OGEL Special Issue on 'Energy Market Creation: Liberalisations and Transformations'
Article from: OGEL 2 (2023), in Editorial
While the United States and European Union engaged in electricity and natural gas market liberalization in early 1990's, many governments around the world are planning or are already engaged in a somewhat similar process of market liberalization for electricity or natural gas.
In Asia, countries like Japan (deregulation in 2017), China (e.g. unbundling and open access to gas infrastructure in 2019), South Korea (the possibility to import LNG and sell to utilities as from 2025), India (third-party access in 2018 and ongoing unbundling and liberalisation efforts) and Singapore (liberalised market and ambitions to become the regional trading hub for LNG) are in the process of liberalising their national gas markets and introducing competition.
In Latin America, Brazil is going through a market liberalisation. Although the energy market creation in the Eurasian Economic Union differs significant ly from other international models (such as US and EU), market creation and a degree of market liberalisation in electricity and gas markets are taking place in this region.
This OGEL Special Issue provides an overview of market liberalizations and market reforms across the world. After discussing the benefits of competition in regulated energy retail markets, it focuses on ongoing market reform in the Eurasian Economic Union, Georgia and China.
The Special Issue also provides for 'lesson learned from previous liberalisations in the Nordic countries (electricity market liberalisations) and Canada (oil and gas market liberalisations). A more specific question relating to liberalization and its relationship with gas transport capacity contracts in Europe then follows before the comparative analysis of various countries regimes and energy sector governance.
This special issue is intended to provide a picture of some ongoing market reforms and guidance from past experiences. I believe this will provide interesting reading for both academics and practitioners alike.
Editor-in-Chief for OGEL