The financial viability of the power sector is a prerequisite for attracting the investment needed to ensure reliable energy supply, meet universal access targets, and hasten the clean energy transition. Adequate pricing of electricity to allow for cost recovery is also important to minimize the...

Some 25 years have elapsed since international financial institutions espoused a package of power sector reform measures that became known as the Washington Consensus. This package encompassed the establishment of autonomous regulatory entities, the vertical and horizontal unbundling of...