In this paper dynamic models of electricity pricing in a representative sample of large and small economies and groups of developed and developing countries in the regions of South America, North America and Asia are studied. The motivation is to further explain the extent of regulation in electricity markets and the role of political factors, along with the roles of indicators of global fossil fuel prices and indicators of a country’s economic and financial strength. Markets in Argentina, Brazil, Chile, the US, the UK, Canada, New Zealand, China, Malaysia, Thailand, the Philippines and Hong Kong are examined. When both long-term and short-term relationships are considered together only China and New Zealand emerge as countries where the electricity markets appear less regulated and less influenced by political factors. In these countries there is evidence of long-term rational expectations together with less informational inefficiency in the short-term, induced by government interference Political factors are not significant exogenous forces. There is no discernible difference of the behaviour of each of the country models in the sample according to region, size and country economic grouping.