Why is transparency important to the energy sector?

Quote of the day

This is from a project that I’m working on right now.  It is from one of the participants. It really goes to the heart of why the energy sector is so important and why there needs to be transparency and predictability in the sector. Both things that are being eroded in our current economic and political times.

In many countries, the energy sector is a large percent of overall national GDP.  Plus, energy is a fundamental building block of any economy in any society.  Light, heat, cooling and power, and are critical for homes, schools, universities, laboratories, shops, commercial establishments, offices, and industries.  Without safe, secure, reliable, and reasonably priced energy, societies are broken.  Because of the massive importance of a functioning energy sector, the significant amounts of cash that flows through the sector on a daily basis, the important role of agencies, such as regulators, and due to the inherent monopoly nature of core portions of energy networks, transparency is critical.  The public – consumers, ratepayers, taxpayers, business enterprises – need to have confidence that in a regulated environment, publicly appointed regulators are making decisions that are free of corruption, consistent with governing laws and regulations, reasonably predictable, understandable, and done without political interference, all to the maximum extent feasible.