Contents

Executive Summary

1. Electricity Reform Abroad: Experiments in Argentina, Australia, and the United Kingdom

• Introduction
  
• The Characteristics of Individual Country Reforms
  
• The Characteristics of Investing Companies
  

2. Electricity Restructuring and Privatization in the United Kingdom

• Introduction
  
• The Structure of UK Electricity Prior to Privatization
  
• The England and Wales Power Pool
  
• RPI-X: Price Caps Versus Rate of Return Regulation
  
• The Sale of UK Electricity
  
• Electricity Investment Activity
  
• Electricity's Relationship to UK Natural Gas Privatization
  
• Privatized Electricity: A Performance Appraisal

3. Electricity Reform and Privatization in Australia

• Introduction
  
• Creation of The National Electricity Market
  
• Implementation - The National Electricity Code
  
• Buying Electricity in the National Market
  
• Electricity Reform at the State and Territory Levels
  
• Reforms in Price Regulation
  
• Privatization and Reform Outcomes

4. The Transformation of Argentina's Electricity Industry

• Introduction
  
• A Historical Perspective for Argentine Privatization Efforts
  
• Changes in Legislation and International Agreements
  
• The Industry Restructuring and Privatization Plan
  
• The Creation of a Competitive Industry
  
• Resulting Foreign Investment

Appendices

• A. U.S. Electric Utility Companies Not investing in Argentina, Australia, and the United Kingdom
• B. Electricity Reform Milestones in Argentina, Australia, and the United Kingdom
• C. Review of Argentine Electricitity Privatization Investment

Tables

1. U.S. Utilities with Foreign Investments
2. Share of UK Electricity Generation for the Fiscal Years 1990-2001
3. Regional Electricity Distribution Companies in the United Kingdom Ranked by Electricity Distributed Fiscal Year 1994/1995
4. The Incremental Deregulation of the End-User Electricity Market
5. Non-Franchise Market Shares in England and Wales
6. Share of Component of Electricity Costs for Different Classes of End Users
7. The UK's Office of Energy Regulation RPI-X Price Controls, and Review Periods
8. Recent Merger and Acquisition Activity in UK Electricity
9. Major UK Regional Natural Gas Pipeline Privatizations
10. Major Foreign Equity Investments in UK Independent Power Projects
11. Employment in the UK Electricity Industry, Selected Years
12. Net Income for UK Electricity Generation Companies, Selected Years
13. The Initial Regulation of Electricity Distribution
14. Australian Electricity Profile: Consumption By Class of Customer and Population in 1995
15. Australian Electricity Consumption, Generation, Imports, and Capacity by State and Territory, 1995
16. Australian Electricity Generation Fuel Usage in 1994
17. Australian Electric Utility Privatization-Related Mergers and Acquisitions
18. The Australian Electricity Supply Industry Infrastructure Operators
19. Net Production of Argentine Electricity by Independent and Public Producers, 1985-1995
20. Argentine Electricity Privatization-Related Acquisitions

Illustrations

1. Regional Distribution of Sales for Foreign Investing Electric Utilities and Other Electric Utilities, 1995
2. Dividend Payout Ratio of Foreign Investing Electric Utilities and Other Electric Utilities, 1987-1996
3. Market-to-Book Ratio for Foreign Investing Electric Utilities and Other Electric Utilities, 1987-1996
4. Return on Equity of Foreign Investing Electric Utilities and Other Electric Utilities, 1987-1996
5. Structure of the UK Electric Power Industry
6. UK Electricity Industry Fuel Use, 1988-1995
7. Index of UK Electricity Prices, 1988-1995
8. Fuel Price Index for UK Electric Utilities, 1988-1995
9. Australian National Electricity Market
10. Victoria's Wholesale Electricity Market
11. New South Wales' Wholesale Electricity Market
12. Total Direct Investment Position in Australia, Selected Years
13. U.S. Direct Investment Position in Australia, 1988-1995
14. Argentine Federal Electricity Restructuring of Conventional Power Generation
15. Argentine Federal Electricity Restructuring of Power Transmission
16. Argentine Electricity Restructuring of Power Distribution
17. Argentine Electricity Restructuring of the Federal Nuclear Agency
18. Total U.S. Direct Foreign Investment in Argentina, Selected Years
19. Ownership of Argentine Electricity Assets, 1995
20. Argentine Electricity Sales Volume Market Shares, 1995

Contact:

Mary E. Northup
mary.northup@eia.doe.gov
Phone: (202) 586-1445
Fax: (202) 586-9753

OR

Jon A. Rasmussen
jon.rasmussen@eia.doe.gov
Phone: (202) 586-1449
Fax: (202) 586-9753

For the authors of the individual chapters in this report, see Contacts

URL: http://www.eia.doe.gov/emeu/pgem/electric/contents.html

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