Evaluating regulatory and governance reforms in European network industries: an automatic language processing approach

European market reforms have changed the operation and structure of vertically integrated utilities and transmission companies. As part of the programme to build the single market, European directives and regulations began to impose significant changes on the network industries in the early 1990s. Countries allowed competition into their network industries as much as possible, regulated reasonable access to the network and gave regulatory power to bureaucratic agencies to increase service coverage, investment in highly specialised assets and consumer rents. The implementation of reform differs widely between countries and sectors.