The Regulation of the Spanish Electricity Sector: A Long Way to Convergence

Abstract

The regulation of the electricity sector, in general and in the particular case of Spain, has been brilliantly analysed by economists and contemporary jurists placing the emphasis, preferably, on economic efficiency and social justice. This article, based on the writings of economic historians in recent years, has as its objective to shed light on the logic to regulatory changes in Spain. Exactly as has been done for other countries, the explanation of factors and of the characteristics of this regulatory change, without doubt, will contribute to the understanding of its special nature within the overall international panorama, as well as a better understanding of the contributions of other previous and future works from different perspectives of analysis. The conclusions on the historical construction of the regulation of the electricity industry until the twentieth century allow us to define four big stages, deeply conditioned by their political regimes and the economic circumstances of the country, as well as by the unequal importance of economic agents in the taking of decisions: powerful energy companies, weak governments, and a complete lack of consumer input.