INDEPENDENCE OF THE BULGARIAN STATE ENERGY AND WATER REGULATORY COMMISSION

Atanas Georgiev ()

Yearbook of the Faculty of Economics and Business Administration, Sofia University, 2014, vol. 12, issue 1, 93-106

Abstract: Sector regulatory authorities are a relatively new type of government institution. The real rise in regulation of energy and public services is from the 1980s with the rise of liberal ideas in the USA and the United Kingdom. Researchers point out, that independence of regulatory agencies is a source of institutional power. Two major types of regulatory independence have been defined in previous academic works: de jure (formal) and de facto (informal) independence. There are also three main aspects of independence, defined by authors in this field: independence from elected officials; relations with regulated companies; the decision process. In the current report, a review of the formal independence of the State Energy and Water Regulatory Commission in Bulgaria is prepared, based on an index, defined by previous researchers. According to this index, formulated by Gillardi, the independence of the Bulgarian regulatory authority is 0.70 (out of maximum 1.00), which is relatively close to average evaluations for other EU countries.

Keywords: electricity; natural gas; regulator; independence; Bulgaria. (search for similar items in EconPapers)
Date: 2014
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