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Network Industries and Social WelfareThe Experiment that Reshuffled European Utilities$
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Massimo Florio

Print publication date: 2013

Print ISBN-13: 9780199674855

Published to Oxford Scholarship Online: September 2013

DOI: 10.1093/acprof:oso/9780199674855.001.0001

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Testing the paradigm: Electricity

Testing the paradigm: Electricity

(p.144) 5 Testing the paradigm: Electricity
Network Industries and Social Welfare

Massimo Florio

Oxford University Press

Chapter 5 describes the effects of reforms on residential electricity prices. Some technical features of electricity supply are reviewed, including the issues of limited storage, system costs, and environmental externalities, which are particularly important for this network industry. Then the rationales for reforms are reviewed and features of the industry in selected EU countries are presented. The core of the chapter is empirical models of consumer prices. Results show that public ownership tends to offer lower prices to consumers, and in general the reforms are not correlated with benefits to consumers in terms of prices. The chapter concludes with a discussion of the new energy policy in the UK that apparently reverses core aspect of the previous market-based approach

Keywords:   electricity, storage, system costs, environment, externalities, UK, residential prices

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