By World Bank
Hungary and Kazakhstan have privatized a wide component of their electrical strength and typical fuel industries, yet have diverse innovations. against this, the opposite former socialist nations in significant and japanese Europe have privatized nearly none. Has the privatization in those international locations been a hit? What classes can different international locations study from their event? those nations all started their reforms from varied beginning issues. The Hungarian energy and fuel sectors had an extended heritage of being particularly good controlled. against this, Kazakhstan inherited items of the previous platforms that have been designed to serve the wishes of the Soviet Union and needed to improve new enterprises to control the method. 'Privatization of the facility and typical fuel Industries in Hungary and Kazakhstan' analyzes how each one state handled the main concerns all for the restructuring and privatization of the facility and fuel sectors. those concerns contain: constitution, wholesale industry, exertions and administration kin, regulatory framework, privatization objecties, and privatization tools.
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Extra resources for Privatization of the power and natural gas industries in Hungary and Kazakhstan, Volumes 23-451
Because the utilities were monopolies and to protect consumers, the retail prices for power were set by various regulatory bodies, ministries, or the government. Vertical Separation Beginning in about 1990, the power sectors in many countries have been dramatically restructured to permit more competition and then privatized. This typically involves splitting up the vertically integrated utilities into separate generation, transmission, and distribution companies. This increased emphasis on competition results from the recognition that privatization alone will not bring about the maximum efficiency gains in the sector.
This is not a problem that typically arises in markets for other goods and services. Unlike other markets, power is not delivered directly from the supplier to the buyer but is instead supplied to a transmission grid that serves all buyers. What assurance is there that a buyer does not take more power from the grid than he has a contract to buy? If this happens, there will be a general system shortage resulting in black outs or brown outs. This would deny power to other buyers even though they have contracts to purchase power adequate to meet their needs.
Thus conclusions about the Kazakhstan experience will be more tentative and speculative. The following analyzes how each country dealt with the key issues involved in the restructuring and privatization of the power and gas sectors. These issues include: · Industry structure, · Wholesale market, · Labor and management relations, · Regulatory framework, · Privatization objectives, and Page 5 · Privatization methods. Status of Reforms in Hungary Before describing the history of reforms in each country, what is the current status of the reforms?