| Description |
1 online resource (xx, 209 pages) : color illustrations |
| Series |
Directions in development. Energy and mining |
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Directions in development (Washington, D.C.). Energy and mining.
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| Contents |
Front Cover; Contents; Foreword; Acknowledgments; About the Authors; Abbreviations; Executive Summary; Introduction; Our Study; Our Findings; Organization of This Report; Note; Reference; Chapter 1 Energy Markets in the Latin America and the Caribbean Region: Setting the Scene; Introduction; Structure of the Energy Market: Hydrocarbons and Electricity; Production Capacity; Government Intervention: An Inescapable Reality; Note; Reference; Chapter 2 Energy Pricing Policies; Introduction; Pricing Policy Toolkit: Hydrocarbons; Pricing Policy Toolkit: Electricity; Tariff Schedules in Practice |
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Notes; Reference; Chapter 3 Fiscal Cost of Energy Pricing Policies; Introduction; Measuring Fiscal Costs: The "Price-Gap" Approach; Price-Gap Results; Notes; References; Chapter 4 Economic Impacts of Energy Pricing and Subsidy Reforms; Introduction; Analysis; Main Findings; Final Considerations; Notes; References; Chapter 5 Distributional Impacts of Energy Pricing; Introduction; Methodology and Implementation; Distributional Impacts of a Price Increase in Gasoline and Diesel; Distributional Impacts of a Price Increase in Liquefied Petroleum Gas |
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Distributional Impacts of a Price Increase in Electricity; Notes; References; Chapter 6 Considerations for Policy Makers; Introduction; Fairness for All: A Guiding Principle for Energy Pricing Reforms; Fresh Thinking: Adopting an Engaging, Targeted, Apolitical Approach; Hydrocarbons; Electricity Market; Conclusions; Note; References; Appendix A Fuels Fiscal Cost Tables; Appendix B Electricity Fiscal Cost Tables; Appendix C Price Shocks; Boxes; Box 2.1 Brazil: Unregulated Consumers in the Electricity Market; Box 2.2 Procuring Long-Term Electricity Contracts by Auction: A FAQ |
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Box 2.3 Increasing Block Tariffs, Volume Differentiated Tariffs, and Flat PricingBox 3.1 Taxing for Negative Externalities; Box 6.1 Action Plans to Reduce Power Losses in the Electricity Sector; Box 6.2 Uruguay Weather and Oil Price Insurance Transaction; Figures; Figure 1.1 Crude Oil and Fuels: Net Exports, Selected LAC Countries; Figure 1.2 Electricity Generation Matrix, Selected LAC Countries; Figure 3.1 Average Yearly Fiscal Support for Fuels: Selected LAC Countries, 2008-13; Figure 3.2 Average Fiscal Support for Fuels as a Percentage of GDP: Selected LAC Countries, 2008-13 |
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Figure 3.3 Fuels Fiscal Expenditures: Selected LAC Countries, 2008-13; Figure 3.4 Average Yearly Fiscal Support for Electricity: Selected LAC Countries, 2008-13; Figure 3.5 Average Yearly Fiscal Support for Electricity as a Percentage of GDP: Selected LAC Countries, 2008-13; Figure 3.6 Electricity Fiscal Expenditures: Selected LAC Countries, 2008-13; Figure 4.1 International Comparison, Retail Prices of Energy, 2012 Products; Figure 4.2 International Comparison, Energy Intensity and GDP per Capita; Figure 4.3 Price Shocks Relative to Energy Prices and Price Gap, Selected LAC Countries |
| Summary |
Government strategies for setting energy prices are not uniform across the Latin America and the Caribbean (LAC) region-- or even across fuels. Instead, they cover a full spectrum, ranging from discretionary price-fixing at one end to pure market-based approaches at the other. In between is a wide variety of other schemes such as price stabilization funds, import or export parity pricing, price smoothing through tax levels, and targeted direct price subsidies or vouchers. Governments in the LAC region, however, tend to be small as measured by government revenues as a percentage of GDP. So their limited government resources have to be used wisely and be better targeted to the poor and vulnerable. Although energy subsidies are an inefficient policy tool for protecting the welfare of the poor, energy price increases can have a big impact on these households. This publiscation finds that energy subsidies are highly regressive in an absolute sense-- that is, the lion's share of every dollar spent on keeping energy prices low benefits wealthier households. However, subsidies for fuels that are widely used for cooking and heating-- liquefied petroleum gas (LPG), natural gas, and kerosene-- as well as for electricity, can be relatively neutral or progressive, implying that lower-income households capture benefits that are proportionate to their expenditures. In other words, although poorer households receive very little from every dollar spent on energy subsidies, that small amount may represent an important share of their expenditures. It is important, then, that governments expand the coverage and depth of their social safety nets to provide relief for poor households if energy prices rise. This report also finds that aggregate price impacts and the competitiveness effects of energy price increases are moderate to small and can be smoothed out through macropolicy responses |
| Bibliography |
Includes bibliographical references |
| Notes |
Resource, viewed October 26, 2017 |
| Subject |
Power resources -- Prices -- Government policy -- Latin America
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Power resources -- Prices -- Government policy -- Caribbean Area
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Power resources -- Subsidies -- Latin America
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Power resources -- Subsidies -- Caribbean Area
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Energy policy -- Latin America
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Energy policy -- Caribbean Area
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BUSINESS & ECONOMICS -- Real Estate -- General.
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Energy policy
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Power resources -- Prices -- Government policy
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Caribbean Area
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Latin America
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| Form |
Electronic book
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| Author |
Cunha, Barbara, author.
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World Bank Group, issuing body.
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| LC no. |
2017277819 |
| ISBN |
9781464811128 |
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1464811121 |
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