Most commentators agree that the benefits of competitive electricity markets will materialize only if wholesale prices are allowed to fluctuate more or less freely so as to provide adequate pricing signals to generators. Most also agree, however, that small electricity users need to be protected...

Investment in private participation in infrastructure projects in developing countries in 2004 and 2005 increased sharply. Meanwhile, the distribution of investment across sectors and regions, and the allocation of risks between public and private parties, were shifting. Private sponsors started...