The wave of infrastructure privatizationsweeping the world over the past decade or so has given riseto a new category of professional - the specialist utilityregulator. These regulators, charged with administeringregulatory frameworks that seek to balance the interests ofconsumers and investors in technically complex andpolitically sensitive industries, can have a major impact onthe performance of privatized firms, on the cost ofinvestment capital (and thus on infrastructure tariffs), andon the sustainability of reforms. For this reason thedevelopment of professional, capable utility regulatorsshould be a key part of reform efforts. While new regulatorsin any country can expect to face many difficulties, thechallenges are particularly daunting for regulators indeveloping countries. This Note reviews those challenges andpresents some of the main strategies for supporting newutility regulators in the developing world.
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