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This book offers a most comprehensive characterization of the
historical, institutional and economic forces affecting electricity
regulation. Eminent economists organized by the University of
California Energy Institute survey the USA, UK, Scandinavia, Latin
America, France, Germany, Japan, Canada, New Zealand and
Yugoslavia. Recent experiments with privatization, competition and
restructuring in electricity are contrasted with instances where
government ownership and traditional vertical integration still
dominate. The introductory essay by Richard J. Gilbert, Edward P.
Kahn and David Newbery synthesizes individual country studies. In
any regulatory system, the government must bargain with investors
and consumers to satisfy conflicting interests. The opacity of
information about cost constrains this process. Governments also
impose multiple political and economic objectives on the
electricity industry, which further obscures cost conditions.
Privatization and deregulation tend to reverse these effects. Few
countries, however, have managed to sustain private ownership in
the long run.
This book offers the most comprehensive characterization assembled to date of the historical, institutional, and economic forces affecting electricity regulation. Eminent economists organized by the University of California Energy Institute survey the US, UK, Scandinavia, Latin America, France, Germany, Japan, Canada, New Zealand, and Yugoslavia. Recent experiments with privatization, competition, and restructuring in electricity are contrasted with instances where government ownership and traditional vertical integration still dominate. The introductory essay by Richard J. Gilbert, Edward P. Kahn, and David Newbery synthesizes individual country studies.
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