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" Ud@ lF `A@`<`  n?" dd@   @@``PR    @ ` `p>> "{(    c BCDEF@   @``) "  c BCDEF@   @`"  c BCDDEF@ ?D ? @`k"  c B CDEFd@ N   @`""   BC5DE,F2@  f*^&55 @   `ju%j"" @  ^BC5DE,F2@  f*^&55 @   `* ""    BC5DE,F2@  f*^&55 @   `:S:""    hBC5DE,F2@  f*^&55 @   `B ""    BC5DE,F2@  f*^&55 @   `3=a ""  @  |BBC5DE,F2@  f*^&55 @   `jCj "*    BACDE4F2@  ay#A5B=%% @    `"  <: R~  m7Haga clic para modificar el estilo de ttulo del patrn8 8 "?  04;   kHaga clic para modificar el estilo de texto del patrn Segundo nivel Tercer nivel Cuarto nivel Quinto nivel7    l "   6t4 q  a* "  " ! 6T6    e*  "   " " 65 1  e*  "   "H  0޽h ? fDW&cC3___PPT92p22 Red  p%2(    c BCDEF@   @``) "  c BCDEF@   @`"  c BCDDEF@ ?D ? @`k"  c B CDEFd@ N   @`""   BC5DE,F2@  f*^&55 @   `au%a"" @  ^BC5DE,F2@  f*^&55 @   `* ""    BC5DE,F2@  f*^&55 @   `1S1""    hBC5DE,F2@  f*^&55 @   `9 ""    BC5DE,F2@  f*^&55 @   `3=X ""  @  |BBC5DE,F2@  f*^&55 @   `aCa "*    BACDE4F2@  ay#A5B=%% @    `" ! 6  `   m7Haga clic para modificar el estilo de ttulo del patrn8 8 " " 6 @ b  p:Haga clic para modificar el estilo de subttulo del patrn; ; " # 6D `  a* "  " $ 6D    e*  "   " % 6    e*  "   "H  0޽h ? fDW&cC3 0 @M(     Npd8pd8 {   u* ???^^}}   Npd8pd8  6  w* ???^^}}d  c $ ?XK  M  Npd8pd8  ?'  kHaga clic para modificar el estilo de texto del patrn Segundo nivel Tercer nivel Cuarto nivel Quinto nivel7    l  Tdpd8pd8 {   u* ???^^}}  Tpd8pd8  6  w* ???^^}}H  0j ? ̙33 0$(    N?5kk t$   [* J$$JJnn  Nt>5kk  5$  ]* J$$JJnn  T>5kk t   [* J$$JJnn  T?5kk  5  ]* J$$JJnnH  0j ? ̙33    ,L(  , ,  \B C DEFd@+8c))? P<<EE  ZD mAqq!y 4 k}H l f_h @  % +lvK,Qp5U( ^K^j}Yw @ ,$D 0  , 0>>@:,$D 0 yClaude Bess Arze.(-   J , 0>?,$D 0 2General Superintendency Sectoral Regulatory System@3$     , 0T9>@ @: ,$D 0 sAlgeria, April 10, 2001.(-   , B@5 ?4  ^ Regulation&  "  $  "H , 0޽h ? ̙33  PH(  x  c $4>Pp     S 45 P@  *H  0޽h ? 3333 ~`(    s 0e0e !   H  0޽h ? ̙33{ +#(    Txaxa1?$$D 0/bZ___PPT9<4 hRules and regulations were not enforced Decisions couldn't be appealed Private companies abused their position to get more benefits Consumer/voters pressure lead to populism: Inadequate tariffs Poor quality of services Inadequate investment Lack of continuity and availability of services Market distortion Crossed subsidies Inefficient management Political pressures and influences Lack of adequate information~ UBlFC UilFBCi   Xbjj  6$  The State Prior to the Reform$ " (  H  0޽h ? ̙33N (  l  ZL  Z \ ,$D 0h  c $A ?? h  c $A ?? j   h  c $A ??  J     `1? Zz o New Structure  hh88    `$1?  [Private Sector Producer  hh88    `1?   VState Policy Maker  hh88    `1? L  }Independent Regulatory Agency  hh88Dl  zP j  0 ` ,$D 0    OBCDEFԔ?px<@   zP    -BCDEFԔ?px<@   J P j B  TDԔ? 6l Z0 J @,$D 0K   `d1?Z`,$D0 The State Prior to the Reform  hh88K   `41?PZ  F ,$D0 Producer Policy Maker Regulator    hh88  c $A ??Z 8 $D0B  TD1?@*,$D0B  TD1?*Z ,$D0B  TD1?Z 0 ,$D0B B TD1? 0 ,$D0B  TD1?  ,$D0B B TD1? J,$D 0  6  Redefinition of Roles$ " (  B  s *޽h ? ̙33  4((  4 4 Tt1?TP|$D 0/H@___PPT9" [ The Bolivian Government went through the following reforms involving private participation: Capitalization in the following sectors: Telecommunications (long distance), Electricity (generation), Railways, Airline and Hydrocarbons (exploration and production, and transport of gas and crude oil). Privatization in the following sectors: Electricity (distribution and transmission), Hydrocarbons (refining, transport and storage, commercialization), Tin Smelting, Cement Plant, Milk Processors, Hotels and others. Concessions in the following sectors: Water and Waste Water, and the three main airports.4^@ U(^ \ hh88" 4 68c$ ,$D 0" 4 68c,$D 0" 4 68c  ,$D 05  4 < ,$D 0 'Reforms Involving Private Participation$( " (( ( H 4 0޽h ? ̙33 ~(    s t0e0e !   H  0޽h ? ̙33N (    6T   Reasons for Regulation$ " (  Q  NTgֳgֳ? P,$D 0 7Most services are provided in imperfect markets due to:88 8 hh88  T1?P $D 0/VN___PPT90( CNatural monopolies and oligopolies Possibility of dominant position Long term contracts (not possible to foresee every situation) Possibility of unilateral actions by Producer State (politicians) Users Need to control and improve the quality of services Need to increase the coverage of services Need to increase efficiencyj0UF(#0lFF(z0UF(#z D jXf88B  s *޽h ? ̙33  C(       H? ?0* Regulation Principles$ " (  "   B4? ?` p$D 0/<4___PPT9 vRegulation is the application of instruments that pretend to fix market distortions (dominant position, asymmetric information and externalities) Regulation is the simulation of competitive markets were they are not Regulation is the promotion of competition Regulation is the protection of society from abuse of dominant or market position Regulation is the protection of investment by protecting investors from possible arbitrary actions Regulation is the maximization of societies well being by reaching economic efficiency Regulation is the protection of the interests of the consumers, enterprises and the State (SIRESE Law)(w8 nUn2w"k   Zjdlt"H   0޽h ? ̙33 zH(  H  H H? ? P ,Basic Characteristics of a Regulatory Entity$- " -( - " H B? ?App$D 0/<4___PPT9 JManagerial autonomy Political autonomy Economic autonomy Accountability$K( nUK K Zjdlt"H H 0޽h ? ̙33Q ((  (9 ( 00|$D 0/H@___PPT9" UAdvantages Economies of scale Similar treatment to common regulatory activities Cross industry learning More consistent decisions Less probability of capture Generally have policy making attributesH nUZ    0`` ( HT? ?  Multisectoral Regulators$ " (    "H ( 0޽h ? ̙33 [S,(  , , B? ? |$D 0/H@___PPT9" Advantages Less concentration of the regulation Possible to compare/benchmark regulators Concentration of sectoral knowledge Generally have some policy making attributes tnUZnU-nUZ t- m  9  0``" , H? ?@  Unisectoral Regulators$ " (    "H , 0޽h ? ̙33  0K(  0U 0 B ?0 % ,$D 0 ;Unisectoral United Kingdom Argentina Peru Chile Venezuela:< /   / z 0 T? ?P % ,$D 0 XMultisectoral State Regulators U.S., Australia and Canada Costa Rica Panama Jamaica "Y L I "% 0 T? ? `,$D 0 _Mixed Bolivia"   " 0 H"? ?P Regulatory Entities$ " (  "H 0 0޽h ? ̙33p   (  x  c $$"!p0P   H  0޽h ? ̙33 0_(    <d$j aSeparation of Functions(  B"   ?d1PS)PS? 0,$D 0 4nREGULATOR Sectoral Superintendencies: Exclusively regulators Can propose norms to the Executive powerZ >  e   K  88"z  p  p,$D 0"  c D d1PS)PS? p,$D 0 BPOLICY MAKERS Legislative power Laws Executive power Decrees:5 5 C  88B  3 rDdD[? ,$D 0B  3 rDdD[? ,$D 0B  s *޽h ? ̙33 @c( ;   0!P v/nf___PPT9H@  Sectoral Superintendents Direct Regulators (unisectoral) General Superintendent Regulator of Regulators (multisectoral)1nU0nU10 B  8   A     ffdB  <DԔ dB  <DԔ 0   <D##! T Mixed System (  B  s *޽h ? ̙33+    P D_ (  Da2 D S ~dV))?,$D 0 State sets Policies   hh882 D S ~$%dV))?,$D 0 +Private Sector Provides Goods and Services*, , hh88" D c 'dVPS)PS?g ,$D 0 :Consumer Demands Adequate Provision of Goods and Services,;2 ; hh88dR D s d'dV)?pp ,$D 0 vSIRESE"   hh88z 00  D 0 ,$D 0B D ND?0/ 0 ,$D 0 D C B@C DE F?H@ @ ` ,$D 0B  D ND?/ 0 ,$D 0  D B'? ? 0,$D 0 iReferee for an Imperfect Market  (  "H D 0޽h ? ̙33  `J(  *  BD&? ?0*,$D 0 v,Referee Subject to Control and Limited Power--( - "  B% ?^$D 0/VN___PPT90( Rules and regulations are established by the Legislative and Executive Branches SIRESE enforces rules and regulations Its decisions can be appealed through: First Instance  before the same Sectoral Superintendency Second Instance  before the General Superintendency Judicial Review  before the Supreme Court Supervision of the Sectoral Superintendencies by the General Superintendency Possibility of discretionary or arbitrary power is excluded0 nUZ20lFZ2N0 nUZ2<8 nUZ2N<xP  h  &  ?    < 8Xl"H  0޽h ? fDW&cC3 zrp(    T%gֳgֳ?P$D 0/bZ___PPT9<4 Main Mandate Comply and enforce the law Independence of the System Independence of political power Independence of regulated enterprises Independence of consumer Economic Independence Managerial IndependenceFnUFFnUF   hh88  <$j `Mandate and Independence(  `  H d޽h @ ? ̙33 <4(    0$p$D 0/<4___PPT9 gClear mandate, free of political control. Appointed by the President from a three names list approved by two thirds of the Senate. Appointees require professional qualifications and experience. Appointed for fixed terms (5 years the Sectoral Superintendents and 7 years the General Superintendent). Can only be reelected after elapses a period the same as the one he exercised its functions. Removable only by judgment for misconduct in the exercise of its functions. Funding from levies charged to regulated operators. Exempt from civil-service salary rules. Under tuition of the Ministry of Economic Development."h@ U2h   v Xh   <D.'aJ ]Independence Regime(  H  0޽h ? ̙33 z(    </j _Accountability Regime(    Bd/? ?_p p$D 0/<4___PPT9 Rigorous transparency requirements. Appeals process. Efficiency and efficacy reviewed by the General Superintendency. Removal for misconduct. @ U2 e   Xh "H  0޽h ? ̙33p  (  x  c $/!P0   H  0޽h ? ̙33u  % (    S $0<$D 0   2  3 r0gֳgֳd1?ppx 0 ,$D 0 !General Superintendency of SIRESE$"!,    hh88i2  3 r1gֳgֳd1?@x,$D 0 Electricity Superintendency     hh88p2  3 rd2gֳgֳd1?  ,$D 0 "Telecommunications Superintendency #"   hh88`2  3 r$3gֳgֳd1? 0 P,$D 0 Hydrocarbons Superintendency   hh88g2  3 r3gֳgֳd1? `  ,$D 0 Transport Superintendency     hh88h2  3 r4gֳgֳd1?@,$D 0 $Water and Wastewater Superintendency%%  hh88l @@  @@ ,$D 0B   Np?@,$D 0B   Np? `  ,$D  0B   Np?@ ,$D 0B   Np?P  ,$D  0B  B Np?P @,$D  0H  0޽h ? fDW&cC3 `G( w `2 z   ` ,$D 0B2 ` C xd5gֳgֳd1?  Telecommuni- cations"    hh88"2 ` C x$6gֳgֳd1?`   r Hydrocarbons    hh882 ` C x6gֳgֳd1?   o Transport    hh88*2 ` C x7gֳgֳd1?  zWater and Wastewater  hh88  ` ZA  ??<TX  $00!2  ` C xd8gֳgֳd1?h  q Electricity    hh88  ` ZA  ??<TX  $00 ` ZA  ??  KX  $00 ` ZA ??, OX $00 ` ZA ??LTX $00z   ` `  ,$D 0 ` Z$9gֳgֳ?   tMAIN FUNCTIONS  hh88 ` Z9gֳgֳ1?g p RProtect consumers, regulated enterprises and the State. Approve prices and tariffs in accordance with sectoral norms. Grant concessions, licenses and authorizations. Enforce compliance of antitrust regulation. Promote competition and efficiency among regulated operators. Monitor compliance of norms by the operators, consumers and State. Monitor compliance of the quality of service. Process complaints from consumers and operators. First instance of appeals. lF g  ` }hh88r"  ` BG/*1?x   ` Z9gֳgֳ?   cLAW  hh88 ` TA ??  X $00 ` <{ ,Sectoral Superintendencies Direct Regulators--(  B ` s *޽h ? ̙33 ;3 (  W2  3 r{gֳgֳd1? XH,$D 0 Regulator of the regulators  hh88z \@P   \@P,$D 0<  Z|gֳgֳ?0 ,$D 0 vMAIN FUNCTIONS  hh88+  Z|gֳgֳ1?\ @P$D 0/bZ___PPT9<4 Second Instance of appeals against Sectoral Superintendents Decisions Supervise Sectoral Superintendents Review efficiency and efficacy (accountability) Promote coherence and foster coordination Approve budgets, salary policies, annual operational plans, etc.~inU0lF*nUAlFi0*A 6#  %   XlFF883  <D} ,$D 0 3General Superintendency Regulator of the Regulators44(    H  0޽h ? ̙33r "/Td(  dz ;  Pd I ,$D 0 d 6~жж~  ZAdministrative Process  TB d c $>@  d fB>CDEF>>@;?HB  d C >  z @ P Md N @,$D 0TB  d c $> >  d Z~жж??  TJudicial Process  HB  d C >@PiPz  z Od @ z#,$D 0 d c $3fz VEnd of processP   d H??  p KConfirm  " d c $D pp JRevoke  B d  `D>?0 0 `B d ZD>?  B d ZD>?   d c $ `<2 S RESOLUTION SS  B d ZD>?p  1d <ā`J,$D 0 mSIRESEs Appeal Process(  z  P Rd   ,$D 0 -d c $$p P DAdministrative Contentious Demand before the Supreme Justice Court .DD E B /d ZD>?  pB 0d ZD>?`` .d H@@@@3f k)Party considered affected can interpose a** * z ;H Td H,$D 0 d c $D H mRevocatory Recourse before SS   NB d S >@ @ d  BC DE F5% D" B d ZD>?0 ;0  d H@@@@3f k)Party considered affected can interpose a** *  d S d$ @,$D 0 S RESOLUTION SS  z    Nd   ,$D 0 d c $$ @p  Q RESOLUTION GS    d c $ / p  JRevoke   !d c $D3f   WEnd of process P  B "d ZD>? B #d ZD>? p  0 B $d ZD>? p 0 B %d ZD>?p   d c $ 5 0  KConfirm  z pF;  Sd F ,$D 0 'd s *I0 F  aHierarchic Recourse before GS  B (d 3 %  B *d  `D>? p 0 B +d ZD>?  )d HdI@@@@3f;  k)Party considered affected can interpose a** * H d 0޽h ? ̙33  *(      <$J `  What and How to Regulate$ " <  H   0޽h ? ̙33 N(    <J= bWhat and How to Regulate  @  0DK 4L|$D 0/H@___PPT9" \1. Define the scope of the regulation Grant concession, licenses, authorizations, etc. Take over operators when the service is in danger Caducity and revocatory of concessions, licenses, etc. Approve prices and tariffs Instance of appeals Apply sanctions Elaborate regulations  Propose regulations Supervise the compliance of the Law and contracts@' 7( U'7     2HPXH  0޽h ? ̙33{ +#(    BK? ? u@|$D 0/H@___PPT9"  2. Credibility of the regulation The rules must be stable in time (Law) The rules must not be subject to negotiation The regulator must have the capacity to enforce the compliance of the Law The regulator must have prestige (trained personnel, budget and independence)P!( U( U"  2HPX"  <dL= bWhat and How to Regulate  H  0޽h ? ̙33h  (    BL? ?P,$D 0 3. The characteristics of the regulatory entity must take into account the institutionalization tradition of the country Less institutionalization more independence Less institutionalization more accountability Less institutionalization less discretion Less institutionalization less policy setting attributes More institutionalization more policy setting attributesy( U( Uz-/+:  z 2HPX"  <M= bWhat and How to Regulate  H  0޽h ? ̙33 0N(  @  BM? ?P u ,$D 0 4. Independence of the regulator Procedure for the designation of the regulator Independence of the political power Economic independence  Regulatory fee Managerial independence Public administration independence (Salaries regime, promotions, etc)N!( U( U"  2HPX"  <N= bWhat and How to Regulate  H  0޽h ? ̙33> @ ~(   p   BO? ?x|$D 0/H@___PPT9" l5. Clearly define the roles of the executive branch (minister) and the regulator 6. Establish, with the highest possible precision, the antitrust and defense of competition dispositions 7. Limit the discretional judgment of the regulator  the regulatory framework must be predictable 8. It is convenient for the regulatory framework to have two steps A Law with all the principles, functions and attributes of the regulator; and Secondary legislation with the procedures, formulas, etc.Pa( U( Ua  2MU]"   <O= bWhat and How to Regulate  H   0޽h ? ̙33 P$;(  $- $ B$P? ?p$D 0/TL___PPT9.& W9. Establish an appeals procedure If possible the first two instances must be in the ambit of the regulator (not political) The third instance must be filed in the highest judicial court (Supreme Court) 10. The regulatory framework must not be subject to renegotiations 11. The regulatory framework must be suitable to technological advancesz#( U( U( U# X 2MU]" $ <P= bWhat and How to Regulate  H $ 0޽h ? ̙33J `((  (| ( BDQ? ?0$D 0/rj___PPT9LD  N,12. The regulatory framework must emphasize the following subjects Free access to the services Prices of the services Quality of the services The tariff principles must be established in the Law and the formulas must be established in the secondary legislation 14. The regulatory framework must establish the regulator s faculty to obtain all the information required for the fulfillment of its functionsD( UK( U( Uw( U( UCKw    2mMuU}]" ( <R= bWhat and How to Regulate  H ( 0޽h ? ̙33z   * " p0(  0 0  \B C DEFd@+8c))? 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