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Pool prices, contracts and regulation in the British electricity supply industry

Author

Listed:
  • Dieter Helm
  • Andrew Powell

Abstract

The privatisation of utilities was advocated as a policy which would enhance efficiency. Ultimately, these efficiency gains would benefit customers, resulting in lower prices and / or higher-quality outputs. In the electricity supply industry, privatisation was accompanied by a much more explicit attempt to restructure the industry, with the aim of enhancing competitive pressure. The 1980s witnessed a succession of attempts to introduce competition into the electricity industry. The 1983 Energy Act addressed entry conditions, but in practice left the dominant incumbent, the state-owned Central Electricity Generating Board, in a position to manipulate the tariffs to the disadvantage of entrants (Hammond, Helm and Thompson 1986).

Suggested Citation

  • Dieter Helm & Andrew Powell, 1992. "Pool prices, contracts and regulation in the British electricity supply industry," Fiscal Studies, Institute for Fiscal Studies, vol. 13(1), pages 89-105, February.
    • Handle: RePEc:ifs:fistud:v:13:y:1992:i:1:p:89-105
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    Citations

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    Cited by:

    1. Robert H. Patrick & Frank A. Wolak, 2001. "Estimating the Customer-Level Demand for Electricity Under Real-Time Market Prices," NBER Working Papers 8213, National Bureau of Economic Research, Inc.
    2. Andrea Petrella & Sandro Sapio, 2010. "No PUN intended: A time series analysis of the Italian day-ahead electricity prices," RSCAS Working Papers 2010/03, European University Institute.
    3. Andrew Powell, 1996. "On Restructuring, Regulation, and Competition in Utility Industries: Experience in the United Kingdom and Implications for Latin America," Research Department Publications 4038, Inter-American Development Bank, Research Department.
    4. Newbery, David M., 1997. "Privatisation and liberalisation of network utilities," European Economic Review, Elsevier, vol. 41(3-5), pages 357-383, April.
    5. von der Fehr, N.-H. & Harbord,D., 1998. "Competition in Electricity Spot Markets. Economic Theory and International Experience," Memorandum 05/1998, Oslo University, Department of Economics.
    6. C-K Woo & I Horowitz & B Horii & R I Karimov, 2004. "The efficient frontier for spot and forward purchases: an application to electricity," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 55(11), pages 1130-1136, November.
    7. Frank A. Wolak & Robert H. Patrick, 2001. "The Impact of Market Rules and Market Structure on the Price Determination Process in the England and Wales Electricity Market," NBER Working Papers 8248, National Bureau of Economic Research, Inc.
    8. Bower, John & Bunn, Derek, 2001. "Experimental analysis of the efficiency of uniform-price versus discriminatory auctions in the England and Wales electricity market," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 561-592, March.
    9. Andrew Powell, 1996. "Sobre la reestructuración, regulación y competencia en el sector de servicios públicos: experiencia del Reino Unido y sus implicaciones para América Latina," Research Department Publications 4039, Inter-American Development Bank, Research Department.
    10. Frank A. Wolak, 2000. "Market Design and Price Behavior in Restructured Electricity Markets: An International Comparison," NBER Chapters, in: Deregulation and Interdependence in the Asia-Pacific Region, pages 79-137, National Bureau of Economic Research, Inc.
    11. Lowrey, Craig, 1997. "The pool and forward contracts in the UK electricity supply industry," Energy Policy, Elsevier, vol. 25(4), pages 413-423, March.
    12. Green, Richard, 1999. "Draining the Pool: the reform of electricity trading in England and Wales," Energy Policy, Elsevier, vol. 27(9), pages 515-525, September.

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