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Competition and Competition Policy in the Austrian Electricity Market. A Critical Review Four Years after Market Liberalisation

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  • Michael Böheim

    (WIFO)

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    Abstract

    Electricity market liberalisation introduced in Austria four years ago initially brought the expected price reductions for both small and large users of electricity – but not more competition. Due to unresolved homemade structural problems, liberalisation has left incumbent electricity suppliers largely unchallenged in their comfortable position as local monopolists. Mergers of public utilities together with existing cross-shareholdings have contributed to a substantial increase of the market power of incumbents, thereby putting the economic benefits from market liberalisation seriously at risk. A programme to stimulate competition is recommended to accelerate the long-delayed legal "unbundling" and institute a thorough review of the strategic alliances in the Austrian electricity sector.

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    Bibliographic Info

    Article provided by WIFO in its journal Quarterly.

    Volume (Year): 10 (2005)
    Issue (Month): 4 (December)
    Pages: 150-167

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    Handle: RePEc:wfo:wquart:y:2005:i:4:p:150-167

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    1. Robert E. Hall, 1986. "The Relation Between Price and Marginal Cost in U.S. Industry," NBER Working Papers 1785, National Bureau of Economic Research, Inc.
    2. Bolle, Friedel, 1992. "Supply function equilibria and the danger of tacit collusion : The case of spot markets for electricity," Energy Economics, Elsevier, Elsevier, vol. 14(2), pages 94-102, April.
    3. Klemperer, Paul D & Meyer, Margaret A, 1989. "Supply Function Equilibria in Oligopoly under Uncertainty," Econometrica, Econometric Society, Econometric Society, vol. 57(6), pages 1243-77, November.
    4. Green, Richard J & Newbery, David M, 1992. "Competition in the British Electricity Spot Market," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 100(5), pages 929-53, October.
    5. Green, Richard J, 1996. "Increasing Competition in the British Electricity Spot Market," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 44(2), pages 205-16, June.
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