We examine the impact of liberalization, energy efficiency, renewable energy, and security of supply legislations on the risk-return profiles of European energy utilities over the period 1996 to 2013. Results show that, after controlling for equity market and commodity risk factors, the EU...

The Electric Power Industry Reform Act (EPIRA) is one of the landmark pro-market reforms implemented to achieve reliable and competitively priced electricity in the Philippines. Due to its perceived ineffectiveness, however, the law has been subjected to a number of criticisms with some calling...

Pakistan's power sector underwent a substantial, if protracted, reform process. Beginning with an independent power producer program in 1994, the full unbundling of the national vertically integrated power and water utility, the Water and Power Development Authority, and the establishment of a...

Vietnam's power sector has developed rapidly since the 1990s to become a top performer among developing countries. This success has occurred mostly under a state-owned utility, Electricity Vietnam. Select market-oriented reforms to date have also had some positive impact. By the late 1990s, the...