My answer is emphatically NO.

There is nothing like third party governance structures in electricity delivery

In Ontario (not third world) they used something called a crown corporation until things were deregulated. Ontario Hydro was fairly insulated from political meddling and ran fairly decent profits. It was owned by the government but managed privately. I think you will find that many countries use crown corporations in this manner, but you would need to have some way to evaluate whether the government was trying to run the business or whether it simply owned the business as a sole shareholder and in fact managed to operate the company similar to the way it would operate as a regulated monopolist. I think India has something like this going on, and perhaps someone else more knowledgeable than myself can fill in the gaps, but to the best of my knowledge it is very poorly insulated from political influence and is full of cronies who have no place running an electricity company.

I would also think that you will have to address the question of whether electricity rates are set by the market or whether the government sets prices for specific reasons.

The main issue is whether crown corporations in the given country can act independently as a profit-seeking company or whether they are exposed to significant meddling for social ends. I think almost every country will be in the grey area here.

Thank you very much Prof Nathan. I will most gratefully want some readings if you can, on this Crown Corporations strategy especially on the specific roles of the government in terms of funding, regulation, etc where the management is outsourced. You may overlook the political influence challenge. On another dimension, where ownership is by the private entity (privatization has taken place) but challenges overwhelm the private entity, how the government can help to avoid total collapse.