Read e-book online Contemporary Economic Issues: Economic Behaviour and Design PDF

By Murat R. Sertel (eds.)

ISBN-10: 0312177445

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10, no. 2, pp. 1-34. Newbery, D. M. (1995) 'Power Markets and Market Power', Energy Journal, vol. 16, no. 3, pp. 41-66. Newbery, D. M. and Green, R. (1996) 'Regulation, Public Ownership and Privatisation of the English Electricity Industry', ch. 2 in Kahn, E. J. Gilbert (eds ), International Comparisons of Electricity Regulation (New York: Cambridge University Press) pp. 25-81. Newbery, D. M. and M. ' Journal of Industrial Economics, vol. 3, pp. 269-303. Newbery: Network Utilities 29 Noam, E. M.

1989) The Regulation of Monopoly (Cambridge: Cambridge University Press). Shin, R. T. and Ying, J. S. (1992) 'Unnatural Monopolies in Local Telephone', Rand Journal of Economics, vol. 23, no. 2, pp. 171-83. , M. Caramanis, R. Tabors, and R. Bohn (1988) Spot Pricing of Electricity (Lancaster: Kluwer Academic Publishers). Spiller, P. (1993) 'Institutions and Regulatory Commitment in Utilities' Privatization', Industrial and Corporate Change, vol. 2, no. 3, pp. 317-80. Spiller, P. (1994) 'Contracts, Administrative Law or Regulatory Specificity: Workable Regulatory Frameworks for Developing Economies', Washington DC: Institute for Policy Reform, Working Paper IPR 97.

In Britain it was legal for the RECs (distribution companies) to sign long-term contracts and take equity stakes in independent power producers, essentially eliminating the risks and causing a rush of entry (the 'dash for gas') and the consequential collapse of half the British coal industry. It worked because there was a market for long-term contracts, and might not if distributors lacked a franchise market. In April, 1995, the Government's golden (blocking) share in the RECs lapsed, and with it their protection against takeovers and mergers.

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Contemporary Economic Issues: Economic Behaviour and Design by Murat R. Sertel (eds.)

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