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Liberalisation and Regulation in Electricity Systems: How can we get the balance right?

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Abstract

This paper explores the issue of the balance between liberalisation and regulation in electricity systems, which is the essence of much of the detailed policies which are implemented in the sector. By liberalisation I take to mean the use of market or quasi-market mechanisms as part of a reform of the sector, by regulation I take to mean regulatory intervention to restrain the operation of market signals which would otherwise have operated in the absence of regulation. The paper takes an international perspective to look at the case for liberalisation, the case for regulation and the evidence on the effects of liberalisation. It concludes with an assessment on the future for electricity liberalisation. This paper forms the foreward to Sioshansi, F.P. (2008) (ed.), Competitive Electricity Markets: Design, Implementation, Performance, Oxford: Elsevier and makes reference to the papers in that volume.

Suggested Citation

  • Pollitt, M, 2007. "Liberalisation and Regulation in Electricity Systems: How can we get the balance right?," Cambridge Working Papers in Economics 0753, Faculty of Economics, University of Cambridge.
    • Handle: RePEc:cam:camdae:0753
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    File URL: http://www.electricitypolicy.org.uk/pubs/wp/eprg0724.pdf
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    Cited by:

    1. John Foster & Liam Wagner, 2014. "International experience with transformations in electricity markets: A Short Literature Review," Energy Economics and Management Group Working Papers 2-2014, School of Economics, University of Queensland, Australia.
    2. Jean-Michel Glachant, 2012. "Regulating Networks in the New Economy," Review of Economics and Institutions, Università di Perugia, vol. 3(1).
    3. Nepal, Rabindra & Menezes, Flavio & Jamasb, Tooraj, 2014. "Network regulation and regulatory institutional reform: Revisiting the case of Australia," Energy Policy, Elsevier, vol. 73(C), pages 259-268.
    4. Anuta, Oghenetejiri Harold & Taylor, Phil & Jones, Darren & McEntee, Tony & Wade, Neal, 2014. "An international review of the implications of regulatory and electricity market structures on the emergence of grid scale electricity storage," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 489-508.
    5. Roques, Fabien & Finon, Dominique, 2017. "Adapting electricity markets to decarbonisation and security of supply objectives: Toward a hybrid regime?," Energy Policy, Elsevier, vol. 105(C), pages 584-596.
    6. Silvia Concettini & Anna Creti, 2013. "Liberalization of electricity retailing in Europe: coming back or going forth?," Working Papers hal-00915924, HAL.
    7. Simone Pront-van Bommel, 2016. "A Reasonable Price for Electricity," Journal of Consumer Policy, Springer, vol. 39(2), pages 141-158, June.
    8. Erdogdu, Erkan, 2013. "Essays on Electricity Market Reforms: A Cross-Country Applied Approach," MPRA Paper 47139, University Library of Munich, Germany.
    9. Dierk Bauknecht, 2011. "Incentive Regulation and Network Innovations," RSCAS Working Papers 2011/02, European University Institute.

    More about this item

    Keywords

    Electricity liberalisation; electricity regulation.;

    JEL classification:

    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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