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Evaluating the British Model of Electricity Deregulation

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  • Stephen Thomas
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    Abstract

    A key aspect of the 1990 reforms to the British electricity supply industry was the introduction of a formal system of regulation by an autonomous regulatory body. It was expected that replacement of monopolies in some areas by markets and price-setting in monopoly areas using a simple incentive formula would mean that regulation of the industry would be 'light'. This article examines how regulation has turned out in practice. It concludes that the promise of 'light' regulation has not been fulfilled. Regulation of competitive markets is a major regulatory activity, incentive regulation has evolved into a complex and intrusive form of rate-of-return, while regulation of industry structure has allowed the industry to descend into a concentrated, vertically integrated structure, at odds with the aims of the reforms. Copyright CIRIEC, 2004.

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    Bibliographic Info

    Article provided by Wiley Blackwell in its journal Annals of Public & Cooperative Economics.

    Volume (Year): 75 (2004)
    Issue (Month): 3 (09)
    Pages: 367-398

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    Handle: RePEc:bla:annpce:v:75:y:2004:i:3:p:367-398

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    Cited by:
    1. Ugur, Mehmet, 2009. "Liberalisation in a world of second best: evidence on European network industries," MPRA Paper 17873, University Library of Munich, Germany, revised 13 Oct 2009.
    2. Jamasb, T. & Pollitt, M., 2007. "Incentive Regulation of Electricity Distribution Networks: Lessons of Experience from Britain," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge 0709, Faculty of Economics, University of Cambridge.
    3. Erdogdu, Erkan, 2013. "Essays on Electricity Market Reforms: A Cross-Country Applied Approach," MPRA Paper 47139, University Library of Munich, Germany.
    4. Erdogdu, Erkan, 2010. "Electricity Market Reform: Lessons for developing countries," MPRA Paper 27317, University Library of Munich, Germany.
    5. Pittman, Russell, 2007. "Restructuring the Russian electricity sector: Re-creating California?," Energy Policy, Elsevier, Elsevier, vol. 35(3), pages 1872-1883, March.
    6. Lehtonen, Markku & Nye, Sheridan, 2009. "History of electricity network control and distributed generation in the UK and Western Denmark," Energy Policy, Elsevier, Elsevier, vol. 37(6), pages 2338-2345, June.
    7. Jamasb, Tooraj, 2006. "Between the state and market: Electricity sector reform in developing countries," Utilities Policy, Elsevier, Elsevier, vol. 14(1), pages 14-30, March.

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