Analysis of Electricity Industry Liberalization in Great Britain: How Did the Bidding Behavior of Electricity Producers Change?
AbstractPromoting competition among electricity producers is crucial for ensuring allocative efficiency and lower electricity prices. In this paper, I empirically examine the electricity market of England and Wales in order to analyze to what extent the regulatory reforms were successful in promoting competition among electricity producers during 1995-2000. This research provides further evidence of the effects of the reforms undertaken by the regulatory authority during the liberalization process and could be also of interest to countries that created their wholesale electricity markets similar to the original model of the England and Wales wholesale electricity market.
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Bibliographic InfoPaper provided by The Center for Economic Research and Graduate Education - Economic Institute, Prague in its series CERGE-EI Working Papers with number wp415.
Date of creation: Sep 2010
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liberalization; electricity markets; uniform price auction; market power;
Find related papers by JEL classification:
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- L90 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - General
- L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-09-25 (All new papers)
- NEP-ENE-2010-09-25 (Energy Economics)
- NEP-EUR-2010-09-25 (Microeconomic European Issues)
- NEP-REG-2010-09-25 (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.:
- von der Fehr, Nils-Henrik Morch & Harbord, David, 1993.
"Spot Market Competition in the UK Electricity Industry,"
Economic Journal, Royal Economic Society,
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- Von der Fehr, N.H.M. & Harbord, D., 1992. "Spot Market Competition in the UK Electricity Industry," Memorandum, Oslo University, Department of Economics 09/1992, Oslo University, Department of Economics.
- Crawford, Gregory S. & Crespo, Joseph & Tauchen, Helen, 2007. "Bidding asymmetries in multi-unit auctions: Implications of bid function equilibria in the British spot market for electricity," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 25(6), pages 1233-1268, December.
- Tashpulatov, Sherzod N., 2013.
"Estimating the volatility of electricity prices: The case of the England and Wales wholesale electricity market,"
Energy Policy, Elsevier,
Elsevier, vol. 60(C), pages 81-90.
- Sherzod N. Tashpulatov, 2011. "Estimating the Volatility of Electricity Prices: The Case of the England and Wales Wholesale Electricity Market," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economic Institute, Prague wp439, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
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