@article {17765,
	title = {Liberalisation lowers primary energy efficiency: Evidence from twin power systems},
	journal = {Energy},
	volume = {173},
	number = {Apr},
	year = {2019},
	pages = {423-435},
	abstract = {The question {\textquotedblleft}What has been achieved by a reform of the power sector{\textquotedblright} remains important for governments since the beginning of\&nbsp;liberalisation\&nbsp;20 years ago. Usually it is difficult to say if liberalisation brings efficiency advantages due to the absence of a perfect counterfactual. This study uses a unique setting {\textendash} two regions in Russia that have similar load, generation and transmission characteristics {\textendash} to identify a causal relation between liberalisation and subsequent performance. Given that the only difference between these two regions is that one was liberalised and the other one remained a\&nbsp;natural monopoly, we can attribute any differences to changes in policy only. Moreover, our focus on the impacts in\&nbsp;infrastructureidentifies changes that have not previously been explored. We find that\&nbsp;primary energy\&nbsp;efficiency increased in the monopoly region and decreased in the market region. There are three possible explanations for this effect. The first explanation is change in\&nbsp;unit commitment\&nbsp;in both regions resulting in different overall efficiency. The second one is deterioration of heat sector caused by decoupling of power and heat in the liberalised region. The third one is\&nbsp;investment\&nbsp;in more expensive and more efficient equipment in the monopoly region.},
	url = {https://www.sciencedirect.com/science/article/abs/pii/S0360544219301938?via\%3Dihub},
	author = {Eve Tsybina and Juan Moreno-Cruz and Alexey Tereshin}
}
