The document discusses effective regulation of infrastructure and utility services. It states that effective regulation is needed to support economic growth, encourage development for the poor, and promote sustainable infrastructure through the efficient delivery of quality services and lower tariff rates. The regulatory framework should include both regulatory governance, such as the design and decision making process, and regulatory substance like decisions on tariffs, quality, and social obligations. While some countries saw success through regulatory reforms like establishing independent regulators and lowering tariffs, others faced challenges of slow implementation, regulators not being fully independent, and higher tariffs. There is a need to evaluate regulatory reforms to improve infrastructure services in developing countries.