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Markets vs. Regulation: A Role for Indicative Energy Planning

The energy sector worldwide is facing the enormous challenge of finding a path of economic, environmental, and social sustainability. This paper argues that, although markets are adequate instruments to achieve an efficient allocation of resources and to promote private initiative, the resolution of the sustainability challenge cannot be left only to market forces, but requires other complementary instruments, among which we highlight indicative energy planning. We discuss the role of indicative energy planning in the future of liberalized energy markets, and propose a general methodology for its implementation, as well as the identification of the major issues to be addressed.

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Energy Specializations: Energy Access – Sustainable Development and Distributed Energy; Petroleum – Policy and Regulation; Electricity – Policy and Regulation; Energy and the Environment – Policy and Regulation

JEL Codes:
Q01 - Sustainable Development
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Energy planning, Sustainability, Energy market liberalization, Energy policy

DOI: 10.5547/ISSN0195-6574-EJ-Vol29-NoSI2-8

Published in Volume 29, Special Issue #2 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.