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Liberalisierungsversprechen und Regulierungsversagen - Das kalifornische Strommarktdebakel

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  • Kumkar Lars

    (Institut für Weltwirtschaft an der Universität Kiel, Düsternbrooker Weg 120, D - 24147, Kiel)

Abstract

This paper discusses the California electricity market debacle and asks which lessons could be drawn from the Californian experience. It analyzes the market developments and depicts the reasons for the market meltdown. It is shown that the present situation in California may be only the calm before the next storm. Essential questions concerning regulatory policy are unsettled, and the Californian policymakers at present do not seem to be able to resolve the problems largely stemming from their own past decisions. The revealed regulatory failure demonstrates that design and analysis of adequate competition and regulation policy must explicitly consider incentive constraints in the political-regulatory area.

Suggested Citation

  • Kumkar Lars, 2002. "Liberalisierungsversprechen und Regulierungsversagen - Das kalifornische Strommarktdebakel," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 51(2), pages 199-230, August.
    • Handle: RePEc:lus:zwipol:v:51:y:2002:i:2:p:199-230:n:5
    DOI: 10.1515/zfwp-2002-0205
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    Cited by:

    1. Christian von Hirschhausen & Hannes Weigt, 2007. "Aktive Wettbewerbspolitik für effiziente Elektrizitätserzeugungsmärkte: Instrumente, internationale Erfahrungen und wirtschaftspolitische Schlussfolgerungen," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 76(1), pages 65-86.
    2. Weiß, Hans-Jörg, 2005. "Die Probleme des ÖPNV aus netzökonomischer Sicht," Discussion Papers 110, University of Freiburg, Institute for Transport Economics and Regional Policy.

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