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Price transmission in the UK electricity market: Was NETA beneficial?

  • Giulietti, Monica
  • Grossi, Luigi
  • Waterson, Michael

This paper explores the relationship between domestic retail electricity prices in Great Britain and their determinants in the context of the New Electricity Trading Arrangements (NETA) introduced in 2001. We employ a consistent comparison of wholesale power price series before and after NETA, alongside a difference-in-differences analysis based on using Scotland as a control. Despite NETA's stated intention of reducing wholesale and thereby retail prices, we conclude that its net effect, alongside other developments, instead merely rearranged where money was made in the system.

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File URL: http://www.sciencedirect.com/science/article/B6V7G-4Y889SN-1/2/44703ce96e38bfa82cf054d0816e7c2c
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Article provided by Elsevier in its journal Energy Economics.

Volume (Year): 32 (2010)
Issue (Month): 5 (September)
Pages: 1165-1174

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Handle: RePEc:eee:eneeco:v:32:y:2010:i:5:p:1165-1174
Contact details of provider: Web page: http://www.elsevier.com/locate/eneco

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  1. Giulio Federico & David Rahman, 2000. "Bidding in an electricity pay-as-bid auction," Economics Papers 2001-W5, Economics Group, Nuffield College, University of Oxford, revised 01 Apr 2001.
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  3. Newbery, David M & Pollitt, Michael G, 1997. "The Restructuring and Privatization of Britain's CEGB--Was It Worth It?," Journal of Industrial Economics, Wiley Blackwell, vol. 45(3), pages 269-303, September.
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  7. Stephen G. Donald & Kevin Lang, 2007. "Inference with Difference-in-Differences and Other Panel Data," The Review of Economics and Statistics, MIT Press, vol. 89(2), pages 221-233, May.
  8. Green, Richard J & Joanne Evans, 2003. "Why did British electricity prices fall after 1998?," Royal Economic Society Annual Conference 2003 92, Royal Economic Society.
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  10. Evens Salies and Catherine Waddams Price, 2004. "Charges, Costs and Market Power: the Deregulated UK Electricity Retail Market," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 19-36.
  11. Meade, Richard & O'Connor, R. Seini, 2009. "Comparison of Long-Term Contracts and Vertical Integration in Decentralised Electricity Markets," Working Paper Series 4023, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
  12. Catherine D. Wolfram, 1999. "Measuring Duopoly Power in the British Electricity Spot Market," American Economic Review, American Economic Association, vol. 89(4), pages 805-826, September.
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  15. Meade, Richard & O'Connor, R. Seini, 2009. "Comparison of Long-Term Contracts and Vertical Integration in Decentralised Electricity Markets," Working Paper Series 4022, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
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