This book is a major study of the new market approach to energy policy in Britain since 1979. It describes the miners' strike, the privatizations of the gas, electricity, nuclear generation, and coal industries, and looks at events such as the dash for gas, regulatory failures in setting monopoly prices, and the takeovers and consolidations of the late 1990s. The author sets out the achievements of the new market philosophy, but also analyses why it has ultimately failed to turn energy industries into normal commodity businesses. The revised paperback edition includes a new chapter on the Whit ... More

This book is a major study of the new market approach to energy policy in Britain since 1979. It describes the miners' strike, the privatizations of the gas, electricity, nuclear generation, and coal industries, and looks at events such as the dash for gas, regulatory failures in setting monopoly prices, and the takeovers and consolidations of the late 1990s. The author sets out the achievements of the new market philosophy, but also analyses why it has ultimately failed to turn energy industries into normal commodity businesses. The revised paperback edition includes a new chapter on the White Paper on a low-carbon economy and updated discussions on nuclear power, to incorporate the 2003 Nuclear White Paper, price reviews, and emissions trading.