Over the past decade, China has been greening its electric power system faster and more thoroughly than any other industrial power. In the course of the years 2007 to 2016, China's dependence on thermal power capacity declined from 77% to 64%, and can be expected to tip below 50% within another decade if the trend continues. In terms of electricity generated, the contribution of thermal power has dipped from 82% to 72% over the last decade. But it is also true that China's growth model continues to pump out greenhouse gases. The issue: is the green transformation happening fast enough?

China's continuing shift to green sources of electric power generation is confirmed in the latest data published by the National Energy Administration (NEA) and the China Electricity Council (CEC). New capacity additions in the first half of 2017 have seen the proportion of capacity added sourced from water, wind and sun (WWS) reaching 70%, with thermal capacity added being reduced to 28% and nuclear to just 2%. Overall, the China electric power system has swung from one that was dependent on WWS sources for just 20% in 2007 to 35% in 2017 (1H) – an astonishing 15% swing in just a decade. Meanwhile actual electric energy generated in 1H 2017 remains heavily dependent on thermal sources to the extent of 75%, with WWS accounting for 21% and nuclear for 4%. The system is greening at the margin (in terms of new additions) but it still remains a large fossil-fuelled system.

Did Latin American privatisation policies fail because of flawed implementation of fundamentally sound policies or because privatisation policies were themselves seriously flawed? Using the Brazilian electric power reforms as a narrative tool, this paper examines the causal chain assumed by large-scale privatisation policies that were implemented as part of structural reform and adjustment programmes. The paper concludes that many privatisation policies and the economic stabilisation programmes within which they were embedded were not mutually reinforcing in the way that policymakers had expected, and that in their application much of what privatisation theories had claimed was lost in translation.