民營化及管制革新已被世界上大多數的政府，視為解決公用事業之不良績效問題的處方，以期改善網絡型事業的傳輸及服務。本文先分析新公共管理的一些概念議題及其弱點，進而探求新公共管理及民營化之間的關係，以及一些國家的治理模式邁向管制型國家的肇因，並釐清公用事業民營化之再管制和管制治理模式等議題。本文研究發現：民營化、管制和競爭之間無庸置疑地環環相扣，且各有其必要意涵，其間所涵蓋的網絡關係，是為管制治理的基礎；研究其間的互動關係，治理途徑及概念更顯其重要性，吾人確立民營化絕非孤立的概念或政策，也非新公共管理革新之唯一的萬靈丹。因此，文末主張以制度途徑來探討管制治理，進而提供一些管制治理上的政策建議給政策研究者和實務者，亦能藉此凸顯重要及具爭議性的未來研究議題。 Governments are calling for privatisation and regulatory reform as the solution to the problem of the poor performance of ‘public’ utilities, and as the means to the improvements of delivery and service of public utilities. This study clarifies the concept of new public management and its weaknesses. Furthermore, it explores the relationship between new public management and privatisation and declares the reasons towards the regulatory state, especially re-regulation for privatisation. It also explores and clarifies the issues between regulatory governance and privatisation in a broader context. In conclusion, drawing from an institutional approach, this paper looks at the different choices of governance mechanisms for regulation in the public utilities. This study highlights the importance of employing an institutional approach to research governance mechanisms for regulation and reveals some question marks and matters as well. Given the variety of statements in the field of public management, it is argued that this differentiated approach to regulatory governance provides a more effective response than the narrow ‘traditional’ notion of new public management.