Recent Development of Restructuring of the Korean Power Sector
نویسنده
چکیده
The view of line-bound energy industries as "natural monopolies" has changed considerably during recent years upon the perception that each of the industries could be seen as a combination of different functions. The natural monopoly perception for each function has been reassessed, resulting in many cases in transportation functions such as transmission and distribution as well as dispatch remaining as natural monopolies but other functions such as generation, wholesale and retail sales, metering, billing etc. being candidates for competitive opening. This new theoretical paradigm has stirred restructuring and deregulation of linebound energy industries in a number of countries with the most prominent examples of the UK (Electricity Act of 1989) and Norway (Electricity Act of 1990) with other countries like the USA (Energy Policy Act of 1992) and Sweden (Competitive Electricity Market Bill of 1992) following behind.
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