Comparative Analysis of Government Impact Level in Energy Regulatory Bodies’ Independence in Electricity, Oil and Gas Sectors

Governments have traditionally undertaken regulation. However, while undertaking privatization measures in energy sector take place, energy regulatory authorities have been established. One of the factors that ensure the effectiveness of energy regulatory authorities is their independence from energy sector stakeholders, especially government. Energy regulatory body independence can be studied from structural, decision-making, and financial perspectives. As the most important governance and policy-making body in energy sector, government has a pivotal role in moving towards regulation in the sector. Hence, introducing regulatory bodies in oil, gas, and electricity sub-sectors of energy sector, this article aims to investigate the influence of government measures in structural, decision-making, and financial independence aspects of energy regulatory authorities in the selected countries. Presumption of this study is based on the fact that the independence degree of energy regulatory bodies is substantially affected by government interventions in energy regulation.