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Electricity prices as signals for the evaluation of reforms: an empirical analysis of four European countries

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  • Massimo Florio

Abstract

The paper considers price trends as signals for the evaluation of reforms leading to ownership or market structure changes in public services. In order to do so, we focus on a specific example: electricity prices in four countries, namely UK, France, Germany and Italy. We consider that these countries offer a natural experiment in different patterns of public/privateownership and liberalisation of electricity industry. We use price changes as a signal and observe that there is no clear dominance of one pattern in terms of welfare change for the representative consumer. This conclusion tends to reject the widely held idea that one specific "orthodox" pattern should bepreferred: privatisation with liberalisation and vertical disintegration. The empirical evidence does not sustain any strong claim of superiority of such a pattern.

Suggested Citation

  • Massimo Florio, 2003. "Electricity prices as signals for the evaluation of reforms: an empirical analysis of four European countries," Departmental Working Papers 2003-014, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    • Handle: RePEc:mil:wpdepa:2003-014
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    More about this item

    Keywords

    Electricity Industry; Tariffs; Public Services; Utilities Reforms;
    All these keywords.

    JEL classification:

    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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