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Why We Need Electricity Retailers: A Reply to Joskow on Wholesale Spot Price pass-through

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  • Littlechild, S.C.

Abstract

Joskow, P. and others propose that, with the opening of retail electricity markets, distribution utilities should be required to enable residential customers to buy at (averaged) wholesale spot market prices. They argue that retail electricity competitors should concentrate on value-added services rather than price competition. However, they have not acknowledged the importance of retail price competition, neglected the role of contract markets, and underestimated the costs and disadvantages of this proposed obligation. Recent experience in San Diego illustrates some of the problems. An alternative policy of maximum caps has been adopted in the UK that is facilitating a transition to a competitive regulated residential retail market.

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Bibliographic Info

Paper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 0008.

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Date of creation: Oct 2000
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Handle: RePEc:cam:camdae:0008

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Web page: http://www.econ.cam.ac.uk/index.htm

Related research

Keywords: Electricity supply; Utility regulation; Retail competition; Wholesale pass-through;

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Cited by:
  1. Defeuilley, Christophe, 2009. "Retail competition in electricity markets," Energy Policy, Elsevier, vol. 37(2), pages 377-386, February.
  2. Paul L. Joskow & Jean Tirole, 2004. "Reliability and Competitive Electricity Markets," NBER Working Papers 10472, National Bureau of Economic Research, Inc.
  3. Nils-Henrik M. Von Der Fehr & Petter Vegard Hansen, 2009. "Electricity Retailing in Norway," EUI-RSCAS Working Papers 4, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
  4. Brennan, Timothy, 2005. "Consumer Preference Not to Choose: Methodological and Policy Implications," Discussion Papers dp-05-51, Resources For the Future.
  5. Johnsen, Tor Arnt & Olsen, Ole Jess, 2011. "Regulated and unregulated Nordic retail prices," Energy Policy, Elsevier, vol. 39(6), pages 3337-3345, June.
  6. Brennan, Timothy J., 2007. "Consumer preference not to choose: Methodological and policy implications," Energy Policy, Elsevier, vol. 35(3), pages 1616-1627, March.
  7. Stephen C. Littlechild, 2002. "Competition in Retail Electricity Supply," Cambridge Working Papers in Economics 0227, Faculty of Economics, University of Cambridge.
  8. Galetovic, Alexander & Muñoz, Cristián M., 2011. "Regulated electricity retailing in Chile," Energy Policy, Elsevier, vol. 39(10), pages 6453-6465, October.

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