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Public interest versus regulatory capture in the Swedish electricity market

机译:瑞典电力市场中的公共利益与监管捕获

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摘要

This article tests the public interest and regulatory capture hypotheses, in the context of the Swedish electricity market, by studying the factors influencing the Swedish Energy Agency's decision to replace decision-makers it employs to hear customer complaints against utilities. The study covers the period from the beginning of 1996, when a series of regulatory reforms were introduced to improve consumer protection, until the end of 2008. The study concludes that decision-makers who find in favor of customers have had a statistically lower probability of being removed, consistent with public interest theory. A transitory effect of favoring utilities can be observed for the period from 2 to 6 years following the reforms. In this period, government and public scrutiny of the regulator, which had been high in the immediate aftermath of the reforms, had waned and there were few precedents decided by the courts that the regulator was required to follow. This vacuum created an opportunity for the utilities to increase their influence over the regulator. Once the courts started establishing precedents in relatively large numbers, the supervisory role of the courts ensured that the actions of the regulator were scrutinized. This development has served a similar function to government and public scrutiny in the years immediately following the reforms in promoting the public interest.
机译:本文通过研究影响瑞典能源署替换其决策者的决定的因素,在瑞典电力市场的背景下检验了公共利益和监管捕获假设,以听取客户对公用事业的投诉。这项研究涵盖了从1996年初开始的时期,当时引入了一系列旨在改善消费者保护的监管改革,直至2008年底。研究得出的结论是,发现青睐客户的决策者在统计上有较低的获利机会。被删除,符合公共利益理论。改革后的2到6年间,可以看到有利于公用事业的短暂影响。在此期间,政府和公众对监管机构的审查(在改革刚结束时就受到严格审查)已经减弱,而且很少有法院裁定监管机构必须遵循的先例。这种真空为公用事业增加了对监管机构的影响。一旦法院开始建立相对大量的判例,法院的监督作用将确保对监管机构的行为进行审查。在促进公共利益的改革之后的几年中,这种发展起到了与政府和公众审查类似的作用。

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