Special administration, financing functions and utility regulation

Recent events have sharpened interest in the question of what happens when key businesses get into difficulty. In the banking sector, governments and regulators have had to make it up as they go along. The lack of preparation for failure has been painfully exposed. In the utility sector, it is a different story: essential services need to be protected, and how to cope in the unlikely event of failure has evolved as an integral part of the regulatory framework. The special administration regime is at the core of solutions available in the licensed utilities.

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