impact of market reforms, environmental constraints and access to capital. INFRASTRUCTURE TO 2030: TELECOM, LAND TRANSPORT, WATER AND ELECTRICITY - ISBN 92-64-02398-4 © OECD 2006 3. OUTLOOK FOR GLOBAL INVESTMENT IN ELECTRICITY INFRASTRUCTURE In general, the effects of market reforms and environmental constraints on investment are most uncertain in OECD countries. Policy makers in those countries are seeking to address concerns about the adequacy and timeliness of investment - both in capacity and in systems, to ensure system reliability and an adequate quality of service - by establishing a market framework that sends efficient market signals to investors. Financing has rarely been a major problem in OECD countries up to now, but doubts about whether investment needs can be fully financed in the future have arisen with the greater investment risks brought by liberalisation of electricity markets. The ability to finance new electricity projects varies among countries, mainly according to the regulatory environment, the extent to which investment has to be funded by publicly owned companies or out of state funds, and where the private sector is responsible for investment - the perceived balance of risk and return. In non-OECD countries, access to capital is the main concern. The private sector is being called upon to finance a growing share of electricity investment as governments find it increasingly difficult to meet rising power-sector investment needs out of their own budgets. Whether all the capital needed can be mobilised quickly enough is a major question. Uncertainties surrounding the impact of market reforms and environmental policies, as well as the prospects for obtaining sufficient financing from private investors in developing countries, are assessed in Section 5. 4. Outlook for the electricity supply industry The IEA's World Energy Outlook adopts a scenario approach to analyse the possible evolution of energy markets to 2030. The central projections are derived from a Reference Scenario, based on a se