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Price transmission in the UK electricity market : was NETA beneficial?

  • Giulietti, Monica

    (Nottingham University Business School)

  • Grossi, Luigi

    (University of Verona)

  • Waterson, Michael

    (University of Warwick)

This paper explores the relationship between domestic retail electricity prices in Great Britain and their determinants in the particular context of the New Electricity Trading Arrangements (NETA) introduced in 2001. The analysis requires a consistent comparison of wholesale power price series before and after NETA, which we investigate using a range of wholesale future price series. Despite its stated intention of reducing prices, we conclude that the net effect of NETA alongside other developments instead merely rearranged where money was made in the system.

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2009/twerp_913.pdf
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Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 913.

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Date of creation: 2009
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Handle: RePEc:wrk:warwec:913
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Web page: http://www2.warwick.ac.uk/fac/soc/economics/

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  1. Giulio Federico & David Rahman, 2000. "Bidding in an electricity pay-as-bid auction," Economics Papers 2001-W5, Economics Group, Nuffield College, University of Oxford, revised 01 Apr 2001.
  2. Green, Richard & Newbery, David M G, 1991. "Competition in the British Electricity Spot Market," CEPR Discussion Papers 557, C.E.P.R. Discussion Papers.
  3. Evens Salies and Catherine Waddams Price, 2004. "Charges, Costs and Market Power: the Deregulated UK Electricity Retail Market," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 19-36.
  4. 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.
  5. Sweeting, A., 2004. "Market Power in the England and Wales Wholesale Electricity Market 1995-2000," Cambridge Working Papers in Economics 0455, Faculty of Economics, University of Cambridge.
  6. James B. Bushnell & Erin T. Mansur & Celeste Saravia, 2007. "Vertical Arrangements, Market Structure, and Competition An Analysis of Restructured U.S. Electricity Markets," NBER Working Papers 13507, National Bureau of Economic Research, Inc.
  7. Natalia Fabra & Juan Toro, 2003. "The Fall in British Electricity Prices: Market Rules, Market Structure, or Both?," Industrial Organization 0309001, EconWPA.
  8. Joanne Evans and Richard Green, 2005. "Why Did British Electricity Prices Fall after 1998?," Discussion Papers 05-13, Department of Economics, University of Birmingham.
  9. Catherine D. Wolfram, 1999. "Measuring Duopoly Power in the British Electricity Spot Market," American Economic Review, American Economic Association, vol. 89(4), pages 805-826, September.
  10. Stephen G. Donald & Kevin Lang, 2007. "Inference with Difference-in-Differences and Other Panel Data," The Review of Economics and Statistics, MIT Press, vol. 89(2), pages 221-233, May.
  11. Richard Meade & Seini O'Connor, 2009. "Comparison of Long-Term Contracts and Vertical Integration in Decentralised Electricity Markets," RSCAS Working Papers 2009/16, European University Institute.
  12. Meade, Richard & O'Connor, R. Seini, 2009. "Comparison of Long-Term Contracts and Vertical Integration in Decentralised Electricity Markets," Working Paper Series 4022, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
  13. Meade, Richard & O'Connor, R. Seini, 2009. "Comparison of Long-Term Contracts and Vertical Integration in Decentralised Electricity Markets," Working Paper Series 4023, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
  14. Evens SALIES & Catherine WADDAMS, 2004. "Charges, costs and market power in the deregulated UK electricity retail market," Industrial Organization 0406003, EconWPA.
  15. Andrew Sweeting, 2004. "Market Power in the England and Wales Wholesale Electricity," Working Papers 0413, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
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