L'électricité est-elle un bien public ?
Wholesale electricity markets are increasingly driven by the rules of competition while recent outages in different regions of the world suggest that security of supply is a public good. The objective of this paper is to show that security of supply and more generally, electricity supply has both public and private characteristics. Whilst the public good characteristic explains why some producers may prefer to free ride on others? investments to maintain reliability, the private good aspect of reliability shows that agents may have a variety of preferences for reliability. Then by relying on the concept of Pareto-relevant externality, the paper explores the private aspect of reliability for the prospect of creating and selling reliability as a differentiated product complementary to bulk power markets. Finally, policy recommendations are derived that aim to enhance information content in the network. JEL codes: H41, L94, L98.
References listed on IDEAS
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- Paul L. Joskow, 1997. "Restructuring, Competition and Regulatory Reform in the U.S. Electricity Sector," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 119-138, Summer.
- Chao, Hung-Po & Peck, Stephen C, 1998. "Reliability Management in Competitive Electricity Markets," Journal of Regulatory Economics, Springer, vol. 14(2), pages 189-200, September.
- Abbott, Malcolm, 2001. "Is the Security of Electricity Supply a Public Good?," The Electricity Journal, Elsevier, vol. 14(7), pages 31-33.
- Musgrave, Richard A, 1969. "Cost-Benefit Analysis and the Theory of Public Finance," Journal of Economic Literature, American Economic Association, vol. 7(3), pages 797-806, September.
- Peter C. Reiss & Matthew W. White, 2005. "Household Electricity Demand, Revisited," Review of Economic Studies, Oxford University Press, vol. 72(3), pages 853-883.
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