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Competition in Retail Electricity Supply

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  • Stephen C. Littlechild

Abstract

This 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 Info

Paper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 0227.

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Length: 20
Date of creation: Oct 2002
Date of revision:
Handle: RePEc:cam:camdae:0227

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Keywords: competition; electricity; regulation; Austrian economics;

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References

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  1. Watts, Price C., 2001. "Heresy? The Case Against Deregulation of Electricity Generation," The Electricity Journal, Elsevier, vol. 14(4), pages 19-24, May.
  2. Goulding, A. J. & Rufin, Carlos & Swinand, Gregory, 1999. "The Role of Vibrant Retail Electricity Markets in Assuring that Wholesale Power Markets Operate Effectively," The Electricity Journal, Elsevier, vol. 12(10), pages 61-73, December.
  3. Littlechild, Stephen C, 2003. "Wholesale Spot Price Pass-Through," Journal of Regulatory Economics, Springer, vol. 23(1), pages 61-91, January.
  4. Stephen C. Littlechild, 2001. "Competition And Regulation In The U.K. Electricity Industry (With A Brief Look At California)," Journal of Applied Corporate Finance, Morgan Stanley, vol. 13(4), pages 21-38.
  5. Littlechild, S.C., 2000. "Why We Need Electricity Retailers: A Reply to Joskow on Wholesale Spot Price pass-through," Cambridge Working Papers in Economics 0008, Faculty of Economics, University of Cambridge.
  6. SC Littlechild, 2001. "Ludwig Lachmann Memorial Lecture," South African Journal of Economics, Economic Society of South Africa, vol. 69(4), pages 583-613, December.
  7. Paul L. Joskow, 2001. "California's Electricity Crisis," NBER Working Papers 8442, National Bureau of Economic Research, Inc.
  8. Fortin, Pierre & Keil, Manfred & Symons, James, 2001. "The Sources of Unemployment in Canada, 1967-91: Evidence from a Panel of Regions and Demographic Groups," Oxford Economic Papers, Oxford University Press, vol. 53(1), pages 67-93, January.
  9. Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
  10. Richard Green & Tanga McDaniel, 1998. "Competition in electricity supply: will ‘1998’ Be worth it?," Fiscal Studies, Institute for Fiscal Studies, vol. 19(3), pages 273-293, August.
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Citations

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Cited by:
  1. Yuanjing Li, 2014. "Vertical Structure and Forward Contract in Electricity Market," Working Papers 2014-117, Department of Research, Ipag Business School.
  2. von der Fehr, Nils-Henrik M. & Hansen, Petter Vegard, 2008. "Electricity Retailing in Norway," Memorandum 02/2009, Oslo University, Department of Economics.
  3. Littlechild, Stephen, 2006. "Competition and contracts in the Nordic residential electricity markets," Utilities Policy, Elsevier, vol. 14(3), pages 135-147, September.
  4. Defeuilley, Christophe, 2009. "Retail competition in electricity markets," Energy Policy, Elsevier, vol. 37(2), pages 377-386, February.
  5. Danias, Nikolaos & Kim Swales, John & McGregor, Peter, 2013. "The Greek Electricity Market Reforms: Political and Regulatory Considerations," Energy Policy, Elsevier, vol. 62(C), pages 1040-1047.
  6. 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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