Captured Energy Market Operation and Liberalization Efforts
Captured Energy Market Operation and Liberalization Efforts

Summary/Abstract: The article examines several developments in the energy sector in Bulgaria through the prism of the “capture” theory (“interest groups” theory), and regulatory capture in particular. It argues that captured state interventions or the lack thereof lead to inefficiencies in the utilities and to socially inferior results, especially in a highly concentrated market, intensive public ownership and questionable NRA independence context. They are liable to hinder effective market liberalisation and green transition efforts.

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