David NewberyUnbundling creates new price risks that require a variety of hedging contracts. The consequences of the risks and resulting contracts are often not well understood by regulators. The conditions for effective competition, at least in electricity, are considerably more demanding than in normal product markets, so that competition law must be adapted if it is to be effective.The electricity supply industry provides the richest body of evidence of the consequences of unbundling, and provides the sharpest test of the new conventional wisdom. This paper will therefore concentrate on the regulatory lessons from electricity unbundling.
Remarks by Martín Guzmán at 12th Edition of the Paris Forum: Key findings and conclusions of the Jubilee Report
Dear members of the Paris Club Secretariat, Thank you for the invitation to present some of the key findings and conclusions of the Jubilee Report, commissioned by Pope Francis and prepared by a Commission of
Martín Guzmán
Joseph Stiglitz