Document Type : Original Article
PhD candidate, Faculty of Economics and Administrative Sciences, Ferdowsi University, Mashhad, Iran
professor, Department of Economics, Faculty of Economics and Administrative sciences, Ferdowsi University, Mashhad, Iran
The electricity industry is in constant transition. From the former wave of market deregulation and liberalization to the current transformation into a decarbonized industry, regulatory bodies have been at the core of the efforts for organizing the energy markets and devising policies for achieving the targeted energy goals for the next few decades. The capability of electricity sector regulators in dealing with the challenges of transition largely depends on the underlying regulatory governance mechanisms and this study aims to assess this crucial aspect of electricity sector regulators. Using a regulatory framework index, the governance mechanism of 20 regulatory bodies across the world is evaluated against the determined criteria. These criteria include the legal scope the regulatory body, separation of operational activities from regulatory activities and four distinct characteristics including autonomy and independence, accountability, clarity of role and objectives, and transparency and participation. The results can help governments and agencies in selection of regulatory frameworks for benchmarking.