Transcription of The Purpose of Economic Regulation and Role of NERSA in ...
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The Purpose of Economic Regulation and Role of NERSA in ...
1 The Purpose of Economic Regulation and Role of NERSA in the Energy Sector RegulationPresentation to: South Africa Economic Regulators Conference (SAERC)By: Phindile Nzimande, CEO, NERSA21 August of Economic Regulation Public Interest Theory vs Capture of Credible Regulation Policy; Legislation; Regulator Institutional Arrangements in SA Juristic Person; Departmental; Self of NERSA in the Regulation of Energy of Regulation in South In our current South Africa infrastructure investment mode, one challenge is that of establishing credible regulatory regime (commitment) necessary for attracting sufficient funds to make the required infrastructure investments A credible regulatory commitment provides a regulated entity with assurance that, after having made the investments, it will be allowed to provide services at prices that fully recover efficient investment costs and makes a profit commensurate with riskIntroduction4 A second challenge is that of ensuring the regulated services are accessible, available (service reliability)
8 • Capture theory view contends that:-–the real purpose of natural monopoly regulation is to serve economic interests of the monopolies themselves
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