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Consumer Choice and Competition Policy: a Study of UK Energy Markets

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Author Info
Monica Giulietti
Catherine Waddams Price
Michael Waterson

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Abstract

Consumer choice is increasingly recognised as a crucial factor in competition policy. To illustrate the implications of such choice we present an investment model of the switching choice in the UK residential natural gas market and examine responses to a specially commissioned survey of nearly seven hundred consumers, identifying search and switching costs. Through an assessment of the savings which consumers say they require to switch supplier, together with an evaluation of consumer switching behaviour, we deduce that the incumbent retained considerable market power, suggesting that some continued regulation may be necessary. Copyright 2005 Royal Economic Society.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0297.2005.01026.x
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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 115 (2005)
Issue (Month): 506 (October)
Pages: 949-968
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Handle: RePEc:ecj:econjl:v:115:y:2005:i:506:p:949-968

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  1. Littlechild, S., 2005. "Competition and contracts in the Nordic Residential Electricity Markets," Cambridge Working Papers in Economics 0550, Faculty of Economics, University of Cambridge. [Downloadable!]
  2. Giulietti, Monica & Otero, Jesus & Waterson, Michael, 2007. "Pricing behaviour under competition in the UK electricity supply industry," The Warwick Economics Research Paper Series (TWERPS) 790, University of Warwick, Department of Economics. [Downloadable!]
  3. Marc Pomp & Victoria Shestalova, 2007. "Switching Costs in Netherlands Energy Markets: Can Liberalisation Bring Benefits to Small Customers?," De Economist, Springer, vol. 155(3), pages 305-321, September. [Downloadable!] (restricted)
  4. Paul L. Joskow, 2003. "The Difficult Transition to Competitive Electricity Markets in the U.S," Working Papers 0308, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research. [Downloadable!]
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  5. Evens SALIES & Catherine WADDAMS PRICE, 2005. "Charges, Costs and Market Power: the Deregulated UK Electricity Retail Market," Industrial Organization 0508010, EconWPA. [Downloadable!]
  6. von der Fehr, Nils-Henrik M. & Hansen, Petter Vegard, 2008. "Electricity Retailing in Norway," Memorandum 02/2009, Oslo University, Department of Economics. [Downloadable!]
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  7. Yoonhee Tina Chang & Catherine Waddams Price, 2008. "Gain or Pain: Does Consumer Activity Reflect Utility Maximisation?," Working Papers 08-15, Centre for Competition Policy, University of East Anglia. [Downloadable!]
  8. Amin, Mohammad, 2008. "Competition and demographics," Policy Research Working Paper Series 4514, The World Bank. [Downloadable!]
  9. Pollock, R., 2009. "Changing the Numbers: UK Directory Enquiries Deregulation and the Failure of Choice," Cambridge Working Papers in Economics 0916, Faculty of Economics, University of Cambridge. [Downloadable!]
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