Energy Markets in Latin America : Emerging Disruptions and the Next Frontier
Efficient energy services are essential for economic growth, competitiveness, and human development. Globally, energy markets are undergoing a transformation: fossil fuel prices are responding to new and unpredictable dynamics, and new energy and i...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/529041529383978286/Flagship-Report http://hdl.handle.net/10986/30211 |
| Summary: | Efficient energy services are essential
for economic growth, competitiveness, and human development.
Globally, energy markets are undergoing a transformation:
fossil fuel prices are responding to new and unpredictable
dynamics, and new energy and information and communication
technologies (ICT) are emerging and disrupting traditional
market architectures. The 2030 development agenda for
sustainable development adopted in September 2015 by the 193
countries of the United Nations General Assembly establishes
sustainable energy as number seven of its 17 sustainable
development goals (SDG7). It seeks to ensure access to
affordable, reliable, sustainable, and modern energy for
all. While much of the finance will have to come from the
private sector, public finance - both national budgets and
concessional transfers - will have a crucial role to play in
helping set economies on the right path. So in this
increasingly complex and rapidly changing context, how are
Latin America and Caribbean (LAC) energy markets
progressing? How will emerging disruptions and game changers
influence the evolution and transformation of energy markets
in LAC? How ready are existing markets and institutions to
actively move toward the next frontiers of efficiency? What
is needed to break through to the modern, efficient, secure,
and sustainable energy systems needed to support the
regional economy in the coming years? What investment will
be needed and how is LAC poised to attract private finance?
This report explores these questions and offers insights
into paths and indicative actions needed to approach the
next efficiency frontier. The report focuses on electricity
and gas markets. The analysis acknowledges the varying
conditions and challenges of different countries in the
region. Intraregional variation is addressed through
analysis of country groupings and selection of appropriate
comparators, benchmarks, and best practice frontiers. |
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