The role of policy in energy transitions: lessons from the energy liberalisation era
AbstractThe aim of this paper is to discuss the period of energy privatisation and liberalisation which began in the 1980s within its wider historical context. The key issues are: what has been learned from this recent period, and; how significant is it in the light of an energy transition to low carbon energy system by 2050? Energy liberalisation has led to positive and globally widespread but modest efficiency gains but a lack of clearly visible direct benefits to households in many countries. It has significantly improved the governance of monopoly utilities (via independent regulators), the prospects for competition and innovation, and the quality of policy instruments for environmental emissions control (through the emergence of trading mechanisms). We conclude that it is not liberalisation per se that will determine the movement towards a low carbon energy transition, but the willingness of societies to bear the cost, which will be significant no matter what the extent of liberalisation.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 1216.
Date of creation: 04 Apr 2012
Date of revision:
Contact details of provider:
Web page: http://www.econ.cam.ac.uk/index.htm
energy liberalisation; energy privatisation; energy transition;
Other versions of this item:
- Pollitt, Michael G., 2012. "The role of policy in energy transitions: Lessons from the energy liberalisation era," Energy Policy, Elsevier, vol. 50(C), pages 128-137.
- L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-04-10 (All new papers)
- NEP-ENE-2012-04-10 (Energy Economics)
- NEP-ENV-2012-04-10 (Environmental Economics)
- NEP-REG-2012-04-10 (Regulation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Wolf, C. & Pollitt, M.G., 2009. "The Welfare Implications of Oil Privatisation: A Cost-Benefit Analysis of Norway’s Statoil," Cambridge Working Papers in Economics 0912, Faculty of Economics, University of Cambridge.
- Pollitt, Michael, 2008.
"Electricity reform in Argentina: Lessons for developing countries,"
Elsevier, vol. 30(4), pages 1536-1567, July.
- Pollitt, M.G., 2004. "‘Electricity Reform in Argentina: Lessons for Developing Countries’," Cambridge Working Papers in Economics 0449, Faculty of Economics, University of Cambridge.
- Jamasb, Tooraj & Mota, Raffaella & Newbery, David & Pollitt, Michael, 2005.
"Electricity sector reform in developing countries : a survey of empirical evidence on determinants and performance,"
Policy Research Working Paper Series
3549, The World Bank.
- Jamasb, T. & Mota, R. & Newbery, D. & Pollitt, M., 2004. "‘Electricity Sector Reform in Developing Countries: A Survey of Empirical Evidence on Determinants and Performance’," Cambridge Working Papers in Economics 0439, Faculty of Economics, University of Cambridge.
- Chisari, Omar & Estache, Antonio & Romero, Carlos, 1999.
"Winners and Losers from the Privatization and Regulation of Utilities: Lessons from a General Equilibrium Model of Argentina,"
World Bank Economic Review,
World Bank Group, vol. 13(2), pages 357-78, May.
- Antonio Estache & O. Chisari & C. Romero, 1999. "Winners and Losers from the Privatization and Regulation of Utilities: Lessons from a General Equilibrium Model of Argentina," ULB Institutional Repository 2013/44005, ULB -- Universite Libre de Bruxelles.
- Kwoka, John & Pollitt, Michael, 2010. "Do mergers improve efficiency? Evidence from restructuring the US electric power sector," International Journal of Industrial Organization, Elsevier, vol. 28(6), pages 645-656, November.
- Mary Oâ€™Mahony & Michela Vecchi, 2001. "The Electricity Supply Industry: A Study of an Industry in Transition," National Institute Economic Review, National Institute of Economic and Social Research, vol. 177(1), pages 85-99, July.
- Tooraj Jamasb & Michael Pollitt, 2005.
"Electricity Market Reform in the European Union - Review of Progress toward Liberalization & Integration,"
0503, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
- Tooraj Jamasb and Michael Pollitt, 2005. "Electricity Market Reform in the European Union: Review of Progress toward Liberalization & Integration," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 11-42.
- Nepal, Rabindra & Jamasb, Tooraj, 2013. "Caught Between Theory and Practice: Government, Market and Regulatory Failures in Electricity," Cambridge Working Papers in Economics 1308, Faculty of Economics, University of Cambridge.
- Erdogdu, Erkan, 2013. "Essays on Electricity Market Reforms: A Cross-Country Applied Approach," MPRA Paper 47139, University Library of Munich, Germany.
- Francesco Vona & Francesco Nicolli, 2013. "Energy market liberalisation and renewable energy policies in oecd countries," Documents de Travail de l'OFCE 2013-10, Observatoire Francais des Conjonctures Economiques (OFCE).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Howard Cobb).
If references are entirely missing, you can add them using this form.