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Privatisation and the Efficiency of Decentralised Electricity Generation: Some Evidence from Inter-war Britain

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  • Hammond, Christopher J

Abstract

The privatization of the electricity supply industry in England and Wales has established a decentralized system of supply. This paper considers the efficiency of the decentralized interwar electricity supply industry. A generalized stochastic frontier cost function is specificed, enabling the estimation of returns to scale and inefficiency at plant level. These estimates are used in turn to examine the efficiency of stations selected by the Central Electricity Board to supply the national grid. The results imply that a decentralized system was not only feasible but that the selection procedure was sensitive to efficiency differences at plant level. Copyright 1992 by Royal Economic Society.

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  • Hammond, Christopher J, 1992. "Privatisation and the Efficiency of Decentralised Electricity Generation: Some Evidence from Inter-war Britain," Economic Journal, Royal Economic Society, vol. 102(412), pages 538-553, May.
    • Handle: RePEc:ecj:econjl:v:102:y:1992:i:412:p:538-53
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    Cited by:

    1. Nadeem Burney, 1998. "Economies of scale and utilization in electricity generation in Kuwait," Applied Economics, Taylor & Francis Journals, vol. 30(6), pages 815-819.
    2. Chang, Dong-Shang & Chen, Yi-Tui & Chen, Wen-Den, 2009. "The exogenous factors affecting the cost efficiency of power generation," Energy Policy, Elsevier, vol. 37(12), pages 5540-5545, December.
    3. Al-Mutairi, Naief & Burney, Nadeem A., 2002. "Factor substitution, and economies of scale and utilisation in Kuwait's crude oil industry," Energy Economics, Elsevier, vol. 24(4), pages 337-354, July.
    4. L. Dean Hiebert, 2002. "The Determinants of the Cost Efficiency of Electric Generating Plants: A Stochastic Frontier Approach," Southern Economic Journal, John Wiley & Sons, vol. 68(4), pages 935-946, April.
    5. Athanassopoulos, Antreas D. & Lambroukos, Nikos & Seiford, Lawrence, 1999. "Data envelopment scenario analysis for setting targets to electricity generating plants," European Journal of Operational Research, Elsevier, vol. 115(3), pages 413-428, June.

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