Market or State?: Three Decades of Reform in the Latin American Electric Power Industry

Abstract

Market or State? Three Decades of Reform in the Latin American Electric Power Industry provides a rich account of the region¿s experiences with state-run and market-oriented electricity services. The author emphasizes the implicit assumptions in the implementation of each of the models as well as the mistaken assurance of their proponents regarding the correspondence between theory and practice, what should be and what is. Rather than trying to defend or condemn a particular model, the author leads the reader in a conversation about the limitations of each one and the impacts of those limitations on outcomes. Jaime Millán brings to this endeavor his long experience in the sector, a large part of which was from the privileged vantage point of the Inter-American Development Bank. The discussion is enriched by a thorough discussion of the current literature on electricity services. The author illustrates his points by means of in-depth descriptions of the experiences of three countries and a discussion of key issues that the sector is currently facing. Because of the richness of the information provided, the integrity with which the experiences are presented, and the variety of disciplines and topics that the author cites, Market or State? is a mandatory reference for persons interested in the future of the electric power industry in Latin America and the Caribbean.