Competition in Retail Electricity Supply
This paper presents an analysis and defence of competition in retail electricity supply. It includes some account of its development in the UK over the last dozen years, to the point where all retail price controls have now been removed. The development of this competition illustrates a number of the themes in Israel Kirzner’s writing - for example, the nature of competition as a process over time, the entrepreneurial and learning nature of this process, the role of marketing in alerting customers, the role of competition in establishing price and in discovering the services and suppliers that customers prefer, and the advantages of competition over regulation.
|Date of creation:||Oct 2002|
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- Paul L. Joskow, 2001.
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CEPR Discussion Papers
1814, C.E.P.R. Discussion Papers.
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- SC Littlechild, 2001. "Ludwig Lachmann Memorial Lecture," South African Journal of Economics, Economic Society of South Africa, vol. 69(4), pages 583-613, December.
- Stephen C. Littlechild, 2001. "Competition And Regulation In The U.K. Electricity Industry (With A Brief Look At California)," Journal of Applied Corporate Finance, Morgan Stanley, vol. 13(4), pages 21-38.
- Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
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