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Beyond Regulation


  • Littlechild, S.


The ‘standard model’ of electricity reform has been refined in many countries but not extended to others. Government is supplanting the role of regulation. Revised calculations suggest that the benefits of UK electricity privatisation were higher than previously estimated and more widely shared with consumers. Other calculations suggest that generation market power in the US is less than previously estimated by Lerner index calculations. Unduly tight price controls explain why there has been less customer switching in some residential electricity markets. There has been significant development of fixed price contracts in Nordic markets, posing questions for regulation in the absence of retail competition. There are alternatives to regulation of network monopolies. In Australia regulated interconnectors have been less economic than merchant interconnectors. In Argentina arrangements for users to determine transmission expansions have worked well. In Florida negotiated settlements have secured a better deal for customers than regulation.

Suggested Citation

  • Littlechild, S., 2006. "Beyond Regulation," Cambridge Working Papers in Economics 0616, Faculty of Economics, University of Cambridge.
  • Handle: RePEc:cam:camdae:0616
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    • Stephen Littlechild, 2007. "Beyond regulation," Chapters,in: Utility Regulation in Competitive Markets, chapter 1 Edward Elgar Publishing.

    References listed on IDEAS

    1. Goldemberg, Jose, 1996. "The evolution of ethanol costs in Brazil," Energy Policy, Elsevier, vol. 24(12), pages 1127-1128, December.
    2. Peter Thompson, 2001. "How Much Did the Liberty Shipbuilders Learn? New Evidence for an Old Case Study," Journal of Political Economy, University of Chicago Press, vol. 109(1), pages 103-137, February.
    3. Junginger, M. & Faaij, A. & Turkenburg, W. C., 2005. "Global experience curves for wind farms," Energy Policy, Elsevier, vol. 33(2), pages 133-150, January.
    4. Isoard, Stephane & Soria, Antonio, 2001. "Technical change dynamics: evidence from the emerging renewable energy technologies," Energy Economics, Elsevier, vol. 23(6), pages 619-636, November.
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    Cited by:

    1. Perez, Yannick & Ramos Real, Francisco Javier, 2008. "How to make a European integrated market in small and isolated electricity systems? The case of the Canary Islands," Energy Policy, Elsevier, vol. 36(11), pages 4159-4167, November.
    2. Christian von Hirschhausen & Hannes Weigt, 2007. "Aktive Wettbewerbspolitik für effiziente Elektrizitätserzeugungsmärkte: Instrumente, internationale Erfahrungen und wirtschaftspolitische Schlussfolgerungen," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 76(1), pages 65-86.
    3. Dierk Bauknecht, 2011. "Incentive Regulation and Network Innovations," RSCAS Working Papers 2011/02, European University Institute.

    More about this item


    : regulation; competition; electricity; transmission;

    JEL classification:

    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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