Competition in the Electricity Industry in England and Wales
When the electricity industry was privatized, the government made structural changes to encourage competition in generation and in supply to consumers. The conventional power stations were only divided between two companies, however, and we show that duopolistic competition in an unregulated spot market might imply undesirably high prices. Most sales are hedged in the contract market, which makes the spot market more competitive, and a realistic threat of entry could also force generators to keep their prices down. In the event, a large amount of entry took place, supported by the regional electricity companies' franchise monopoly over smaller consumers. That monopoly ends in 1998, so that further entry might become very difficult, while competition between firms already in the generation market is still limited. Vertical integration between the major generators and regional electricity companies might make entry even harder, and should be blocked until the industry is more competitive. Copyright 1997 by Oxford University Press.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
When requesting a correction, please mention this item's handle: RePEc:oup:oxford:v:13:y:1997:i:1:p:27-46. See general 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: (Oxford University Press)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.