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Electricity prices as signals for the evaluation of reforms: an empirical analysis of four European countries

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  • Massimo Florio

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Abstract

The paper considers price trends as signals for the evaluation of reforms leading to ownership or market structure changes in public services. In order to do so, we focus on a specific example: electricity prices in four countries, namely UK, France, Germany and Italy. We consider that these countries offer a natural experiment in different patterns of public/privateownership and liberalisation of electricity industry. We use price changes as a signal and observe that there is no clear dominance of one pattern in terms of welfare change for the representative consumer. This conclusion tends to reject the widely held idea that one specific "orthodox" pattern should bepreferred: privatisation with liberalisation and vertical disintegration. The empirical evidence does not sustain any strong claim of superiority of such a pattern.

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Bibliographic Info

Paper provided by Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano in its series Departmental Working Papers with number 2003-14.

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Date of creation: 01 Jan 2003
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Handle: RePEc:mil:wpdepa:2003-14

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Keywords: Electricity Industry; Tariffs; Public Services; Utilities Reforms;

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References

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  1. Rafael La Porta & Florencio López-De-Silanes, 1999. "The Benefits Of Privatization: Evidence From Mexico," The Quarterly Journal of Economics, MIT Press, vol. 114(4), pages 1193-1242, November.
  2. Rinaldo BRAU & Massimo FLORIO, 2004. "Privatisations as price reforms: Evaluating consumers' welfare changes in the U.K," Annales d'Economie et de Statistique, ENSAE, issue 75-76, pages 109-133.
  3. Paolo Liberati, 2005. "UK Privatization and Household Welfare," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 61(2), pages 220-, July.
  4. Faye Steiner, 2000. "Regulation, Industry Structure and Performance in the Electricity Supply Industry," OECD Economics Department Working Papers 238, OECD Publishing.
  5. Domah, P. & Pollitt, M.G., 2000. "The Restructuring and Privatisation of Electricity Distribution and Supply Businesses in England and Wales: A Social Cost Benefit Analysis," Cambridge Working Papers in Economics 0007, Faculty of Economics, University of Cambridge.
  6. Jamasb, T. & Pollitt, M., 2004. "Electricity Market Reform in the European Union: Review of progress towards liberalisation and integration," Cambridge Working Papers in Economics 0471, Faculty of Economics, University of Cambridge.
  7. David M. Newbery, 2002. "Privatization, Restructuring, and Regulation of Network Utilities," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262640481, December.
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Cited by:
  1. Poggi, Ambra & Florio, Massimo, 2010. "Energy deprivation dynamics and regulatory reforms in Europe: Evidence from household panel data," Energy Policy, Elsevier, vol. 38(1), pages 253-264, January.
  2. Clifton, Judith & Díaz-Fuentes, Daniel, 2008. "Evaluating EU policies on public services: a citizens´ perspective," MPRA Paper 9420, University Library of Munich, Germany.
  3. Erdogdu, Erkan, 2010. "Electricity Market Reform: Lessons for developing countries," MPRA Paper 27317, University Library of Munich, Germany.
  4. Erdogdu, Erkan, 2013. "Essays on Electricity Market Reforms: A Cross-Country Applied Approach," MPRA Paper 47139, University Library of Munich, Germany.
  5. Gugler, Klaus & Rammerstorfer, Margarethe & Schmitt, Stephan, 2013. "Ownership unbundling and investment in electricity markets — A cross country study," Energy Economics, Elsevier, vol. 40(C), pages 702-713.

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