Back From The Dead? The Return of Energy Policy
AbstractAmong all the momentous events in the world in 2002, one more parochial happening which is, nonetheless, of considerable significance for energy economists is the revival of energy policy in Britain. This year has seen a flurry of activity on the energy front. In February the Performance and Innovation Unit produced its detailed ‘Energy Review’, following which in May the government published its ‘Key Issues for Consultation for the White Paper’, in advance of a White Paper on energy policy which is promised around the end of 2002. It will be the first such White Paper for thirty five years. In this lecture, I started with a potted history of British energy policy in the post-war period since the lessons which might be learned from earlier efforts at policy are in danger of being neglected. Then I discuss the theory of intervention by government in the energy sector. Finally, I consider the main issues which are emphasised in the new form of energy policy and whether or not they constitute a genuine basis for government action. My view is that, in energy policy as elsewhere, we should beware of attempts to look into the far distant future and, in vain search for ‘optimal’ solutions, propose interventionist measures to combat supposed market failures, providing another excuse for government encroachment. The intention is entirely well-meaning but the outcome is unlikely to be so benign.
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 Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey in its series Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS) with number 104.
Length: 48 pages
Date of creation: Dec 2002
Date of revision:
energy policy; government failure; PIU Energy Review; energy markets; environmental issues;
Find related papers by JEL classification:
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lester C Hunt).
If references are entirely missing, you can add them using this form.