Lewis T. Evans and Richard B. Meade place New Zealand's current institutional arrangements for its electricity sector within the context of successive waves of economic reform. They compare these arrangements with developments internationally, drawing together lessons for future policymaking both in New Zealand and overseas. Alternating Currents or Counter-Revolution? is a work of political economy - and the book carefully analyses the interplay between technology, economics and politics that has at different times driven the sector. Controversially, the authors argue that the market reforms of the 1980s and 1990s provided greater supply security than the more centralised arrangements prevailing in the past - and that New Zealand's reversion to more centralised and political control since the late 1990s has resulted in an unsustainable half-way house that hinders private electricity investments and reinforces this trend.
Lewis T. Evans is a professor of economics at Victoria University of Wellington and was the first executive director of the New Zealand Institute for the Study of Competition and Regulation. Richard B. Meade is a research principal of ISCR and a lecturerat Victoria University of Wellington."