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Wholesale Spot Price Pass-Through

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  • Littlechild, Stephen C

Abstract

It has been proposed that, when electricity markets open to retail competition, incumbent distribution utilities should be required to sell to residential customers at wholesale spot market prices. It is argued here that this overestimates the value of spot-price sales to customers, and underestimates the costs and disadvantages of the proposed policy. Experience in San Diego illustrates the problems. But other policies such as "shopping credits" have deficiencies too. An alternative approach, based on transitional maximum price caps, has facilitated the development of a competitive and fully deregulated residential retail market in the United Kingdom. Copyright 2003 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Journal of Regulatory Economics.

Volume (Year): 23 (2003)
Issue (Month): 1 (January)
Pages: 61-91

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Handle: RePEc:kap:regeco:v:23:y:2003:i:1:p:61-91

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Web page: http://www.springerlink.com/link.asp?id=100298

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Cited by:
  1. Littlechild, S., 2005. "Competition and contracts in the Nordic Residential Electricity Markets," Cambridge Working Papers in Economics 0550, Faculty of Economics, University of Cambridge.
  2. Nils-Henrik M. Von Der Fehr & Petter Vegard Hansen, 2009. "Electricity Retailing in Norway," RSCAS Working Papers 2009/04, European University Institute.
  3. Galetovic, Alexander & Muñoz, Cristián M., 2011. "Regulated electricity retailing in Chile," Energy Policy, Elsevier, vol. 39(10), pages 6453-6465, October.
  4. Paul L. Joskow & Jean Tirole, 2004. "Reliability and Competitive Electricity Markets," NBER Working Papers 10472, National Bureau of Economic Research, Inc.
  5. Neuhoff, Karsten & De Vries, Laurens, 2004. "Insufficient incentives for investment in electricity generations," Utilities Policy, Elsevier, vol. 12(4), pages 253-267, December.
  6. Stephen C. Littlechild, 2002. "Competition in Retail Electricity Supply," Cambridge Working Papers in Economics 0227, Faculty of Economics, University of Cambridge.
  7. Defeuilley, Christophe, 2009. "Retail competition in electricity markets," Energy Policy, Elsevier, vol. 37(2), pages 377-386, February.
  8. Stephen Littlechild, 2008. "Municipal aggregation and retail competition in the Ohio energy sector," Journal of Regulatory Economics, Springer, vol. 34(2), pages 164-194, October.
  9. Chien-Ping Chen, 2005. "Residential Consumer Switching and Electricity Restructuring Policy: The Pennsylvania Power Market," Atlantic Economic Journal, International Atlantic Economic Society, vol. 33(3), pages 311-323, September.
  10. Johnsen, Tor Arnt & Olsen, Ole Jess, 2011. "Regulated and unregulated Nordic retail prices," Energy Policy, Elsevier, vol. 39(6), pages 3337-3345, June.

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