Competition in Retail Electricity Supply
AbstractThis paper presents an analysis and defence of competition in retail electricity supply. It includes some account of its development in the UK over the last dozen years, to the point where all retail price controls have now been removed. The development of this competition illustrates a number of the themes in Israel Kirzner’s writing - for example, the nature of competition as a process over time, the entrepreneurial and learning nature of this process, the role of marketing in alerting customers, the role of competition in establishing price and in discovering the services and suppliers that customers prefer, and the advantages of competition over regulation.
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Bibliographic InfoPaper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 0227.
Date of creation: Oct 2002
Date of revision:
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competition; electricity; regulation; Austrian economics;
Other versions of this item:
- L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
- B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-11-04 (All new papers)
- NEP-COM-2002-11-18 (Industrial Competition)
- NEP-ENE-2002-11-04 (Energy Economics)
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