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Issues and Options for Restructuring Electricity Supply Industries

  • Newbery, D.

The electricity supply industry is highly capital-intensive, whose success depends critically upon the management of its investment. In most developing countries investment is poorly managed, poorly maintained, and often inadequate. Inadequate regulation or political control lead to low prices that undermine the finance of investment and give poor incentives for management and operation. The paper argues that regulation must be carefully designed to provide efficient incentives and adequate guarantees to sustain investment and operations and only then will privatisation improve performance and benefit consumers. The paper discusses the evidence for these claims, the circumstances required for full unbundling and liberalisation to be successful, and those where the Single Buyer Model or continued, ideally reformed, state ownership, may be preferable, at least until conditions improve.

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File URL: http://www.econ.cam.ac.uk/electricity/publications/wp/ep01.pdf
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Paper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 0210.

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Length: 47
Date of creation: May 2002
Date of revision:
Handle: RePEc:cam:camdae:0210
Note: CMI IO
Contact details of provider: Web page: http://www.econ.cam.ac.uk/index.htm

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  1. Newbery, D., 1996. "Privatisation and Liberalisation of Network Utilities," Cambridge Working Papers in Economics 9620, Faculty of Economics, University of Cambridge.
  2. Jamasb, T. & Pollitt, M., 2000. "Benchmarking and regulation: international electricity experience," Utilities Policy, Elsevier, vol. 9(3), pages 107-130, September.
  3. repec:cup:cbooks:9780521495905 is not listed on IDEAS
  4. Newbery, D.M. & Pollitt, M.G., 1996. "The Restructuring and Privatisation of the CEGB: Was It Worth It?," Cambridge Working Papers in Economics 9607, Faculty of Economics, University of Cambridge.
  5. Bogorad, Cynthia S. & Penn, David W., 2001. "Cost-of-Service Rates to Market-Based Rates to Price Caps to ?!#?#!?," The Electricity Journal, Elsevier, vol. 14(4), pages 61-72, May.
  6. Paul L. Joskow, 2001. "California's Electricity Crisis," NBER Working Papers 8442, National Bureau of Economic Research, Inc.
  7. Newbery, David M., 1997. "Determining the regulatory asset base for utility price regulation," Utilities Policy, Elsevier, vol. 6(1), pages 1-8, March.
  8. Pollitt, M. G., 1997. "The Restructuring and Privatisation of the Electricity Supply Industry in Northern Ireland: Will it be Worth it?," Cambridge Working Papers in Economics 9701, Faculty of Economics, University of Cambridge.
  9. Richard Green & Tanga McDaniel, 1998. "Competition in electricity supply: will ‘1998’ Be worth it?," Fiscal Studies, Institute for Fiscal Studies, vol. 19(3), pages 273-293, August.
  10. Watts, Price C., 2001. "Heresy? The Case Against Deregulation of Electricity Generation," The Electricity Journal, Elsevier, vol. 14(4), pages 19-24, May.
  11. Preetum Domah & Michael G. Pollitt, 2001. "The restructuring and privatisation of the electricity distribution and supply businesses in England," Fiscal Studies, Institute for Fiscal Studies, vol. 22(1), pages 107-146, March.
  12. David M. Newbery, 2002. "Privatization, Restructuring, and Regulation of Network Utilities," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262640481, June.
  13. Ronald Fischer & Pablo Serra, 2000. "Regulating the Electricaly Sector in Latin America," Documentos de Trabajo 86, Centro de Economía Aplicada, Universidad de Chile.
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