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| Tekijä: | Newbery, D.M. |
| Otsikko: | Problems of liberalising the electricity industry |
| Lehti: | European Economic Review
2002 : APR, VOL. 46:4-5, p. 919-927 |
| Asiasana: | Electricity industry Competition Regulations Legislation Contracts Markets Europe |
| Kieli: | eng |
| Tiivistelmä: | The European Commission's attempt to update the Electricity and Gas Directives to underwrite unbundling and full liberalization co-incides with the California electricity crisis in USA. This paper argues that compared to the U.S., much of the European Union (EU) lacks the necessary legislative and regulatory power to mitigate generator market power. Unless markets are made more contestable, transmission capacity expanded and adequate generation capacity ensured, liberalisation may lead to higher prices. Ending the domestic franchise could remove the counterparty for the contracts required for adequate investment to sustain competitive pricing. |
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