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Abstract
Deregulation, privatisation and the introduction of competitive markets for electricity in Asia has been a common theme in the wake of the Asian crisis. Such reforms necessitate far-reaching measures to create the sort of market certainty and transparency that developers and their financiers will require. In the light of experience drawn from the US, Europe and Australia and current developments in the power industry in Asia, this paper examines the proposed reforms, when they are likely to come into effect, and how the financial markets will respond to such changes.