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New Models of Public Ownership in Energy

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  • Brophy Haney, A.
  • Pollitt, M.G.

Abstract

This paper discusses some of the new and continuing ways in which the public sector is involved in the electricity / energy sector around the world. This involvement continues to be significant in spite of the longrunning trend towards privatisation, competition and independent regulation in the energy sector. We discuss why the theoretical case for public ownership might be more attractive now than in the recent past. We then discuss six case studies of modern public ownership drawn from the UK (Great Britain and Northern Ireland), Denmark, New Zealand, Finland and Chile. The investments covered include wind and nuclear power, LNG facilities, electricity and gas distribution investments and energy service companies for combined heat and power. We conclude with some outstanding questions raised by the apparently favourable conditions for increased public involvement in energy.

Suggested Citation

  • Brophy Haney, A. & Pollitt, M.G., 2010. "New Models of Public Ownership in Energy," Cambridge Working Papers in Economics 1055, Faculty of Economics, University of Cambridge.
  • Handle: RePEc:cam:camdae:1055
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    References listed on IDEAS

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    1. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, January.
    2. Newbery, David M & Pollitt, Michael G, 1997. "The Restructuring and Privatization of Britain's CEGB--Was It Worth It?," Journal of Industrial Economics, Wiley Blackwell, vol. 45(3), pages 269-303, September.
    3. Pollitt, M.G., 2009. "Electricity Liberalisation in the European Union: A Progress Report," Cambridge Working Papers in Economics 0953, Faculty of Economics, University of Cambridge.
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    Cited by:

    1. repec:eee:enepol:v:113:y:2018:i:c:p:623-632 is not listed on IDEAS
    2. Elisa Borghi & Chiara Del Bo & Massimo Florio, 2016. "Institutions and Firms' Productivity: Evidence from Electricity Distribution in the EU," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(2), pages 170-196, April.
    3. Hyland, Marie, 2016. "Restructuring European electricity markets – A panel data analysis," Utilities Policy, Elsevier, vol. 38(C), pages 33-42.
    4. Gui, Emi Minghui & Diesendorf, Mark & MacGill, Iain, 2017. "Distributed energy infrastructure paradigm: Community microgrids in a new institutional economics context," Renewable and Sustainable Energy Reviews, Elsevier, vol. 72(C), pages 1355-1365.
    5. repec:eee:rensus:v:82:y:2018:i:p3:p:3400-3419 is not listed on IDEAS
    6. Fiorio, Carlo V. & Florio, Massimo, 2013. "Electricity prices and public ownership: Evidence from the EU15 over thirty years," Energy Economics, Elsevier, vol. 39(C), pages 222-232.
    7. Somosi, Sarolta, 2012. "Winners or losers?: State measures in crisis management and the energy markets," MPRA Paper 40370, University Library of Munich, Germany.
    8. Richard Meade & Magnus Soderberg, 2017. "Welfare-Maximising Investors? – Utility Firm Performance with Heterogeneous Quality Preferences and Endogenous Ownership," Working Papers 2017-09 JEL Classificatio, Auckland University of Technology, Department of Economics.
    9. Roberto CARDINALE, 2017. "The Political-Economy Implications of the Transition from State-Owned to Mixed-Owned Enterprises: Evidence from the European Gas Sector," Departmental Working Papers 2017-10, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    10. Pompei, Fabrizio, 2013. "Heterogeneous effects of regulation on the efficiency of the electricity industry across European Union countries," Energy Economics, Elsevier, vol. 40(C), pages 569-585.

    More about this item

    Keywords

    Public ownership; electricity; gas;

    JEL classification:

    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities

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