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Market design

Author

Listed:
  • Newbery, D.

Abstract

Europe is liberalising electricity in accordance with the European Commission’s Electricity Directives. Different countries have responded differently, notably in the extent of restructuring, treatment of mergers, market power, and vertical unbundling. While Britain and Norway have achieved effective competition, others like Germany, Spain and France are still struggling to deal with dominant and sometimes vertically integrated companies. The Netherlands offers an interesting intermediate case, where good economic analysis has sometimes been thwarted by legalistic interpretations. Investment under the new Emissions Trading system could further transform the electricity industry but may be hampered by slow progress in liberalising European gas markets.

Suggested Citation

  • Newbery, D., 2006. "Market design," Cambridge Working Papers in Economics 0615, Faculty of Economics, University of Cambridge.
    • Handle: RePEc:cam:camdae:0615
    Note: IO
    as

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    File URL: http://www.electricitypolicy.org.uk/pubs/wp/eprg0515.pdf
    Download Restriction: no
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    Other versions of this item:

    • David Newbery, 2006. "Market Design," Working Papers EPRG 0515, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.

    Citations

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    Cited by:

    1. Greve, T. & Pollitt, M., 2016. "A future auction mechanism for distributed generation," Cambridge Working Papers in Economics 1672, Faculty of Economics, University of Cambridge.
    2. Pollitt, Michael, 2009. "Evaluating the evidence on electricity reform: Lessons for the South East Europe (SEE) market," Utilities Policy, Elsevier, vol. 17(1), pages 13-23, March.
    3. Roques, F. & Newbery, D.M. & Nuttall, W.J., 2004. "Generation Adequacy and Investment Incentives in Britain: from the Pool to NETA," Cambridge Working Papers in Economics 0459, Faculty of Economics, University of Cambridge.
    4. Di Cosmo, Valeria & Lynch, Muireann Á., 2016. "Competition and the single electricity market: Which lessons for Ireland?," Utilities Policy, Elsevier, vol. 41(C), pages 40-47.
    5. Jamasb, T. & Pollitt, M., 2005. "Deregulation and R&D in Network Industries: The Case of the Electricity Industry," Cambridge Working Papers in Economics 0533, Faculty of Economics, University of Cambridge.
    6. Green, R. & Lorenzoni, A. & Perez, Y. & Pollitt, M., 2006. "Benchmarking Electricity Liberalisation in Europe’Benchmarking Electricity Liberalisation in Europe," Cambridge Working Papers in Economics 0629, Faculty of Economics, University of Cambridge.
    7. Richard Gilbert & David Newbery, 2008. "Analytical Screens for Electricity Mergers," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 32(3), pages 217-239, May.
    8. Simshauser, Paul, 2010. "Vertical integration, credit ratings and retail price settings in energy-only markets: Navigating the Resource Adequacy problem," Energy Policy, Elsevier, vol. 38(11), pages 7427-7441, November.

    More about this item

    Keywords

    Competition; liberalisation; restructuring; electricity; market power;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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