Abstract
Dissatisfaction with the performance of cost-of-service regulated or government-owned electric utilitieshas led to dramatic changes in the market structure and rules governing the operation of electricity industries in the United States and worldwide. These restructuring efforts seek to introduce competition to provide incentives for efficient pricing, investment, and operation. The predominant view is that competition is feasible for structurally or functionally separated firms generating (wholesale) and/or supplying (retail) electricity, while transmission and distribution services are most efficiently provided by firms facing alternative (to cost-based) forms of regulation (e.g., price caps). An example of this view is the England and Wales (E&W) electricity market which was established in 1990 and has served as a model for restructuring worldwide.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Brough, Martin, and Seumas Lobban. 1995. Guide to the Economic Regulation of the Electricity Industry. Oxford, U.K. OXERA Press.
Electricity Association. 1995. UK Electricity. London: Electricity Association Services Limited.
Energy Information Administration. 1996. The Changing Structure of the Electric Power Industry: An Update. DOE/EIA-0562(96), U.S Department of Energy, Washington, DC.
Government Statistical Service. 1980. Standard Industrial Classification Revised 1980. Central Statistical Office, Her Majesty’s Stationary Office Publications Centre, London, U.K.
Government Statistical Service. 1991-95. Business Monitor: MM22 Producer Price Indices. Central Statistical Office, HMSO Publications Centre, London, U.K.
Patrick, Robert H., and Frank A. Wolak. 1997a. “Estimating the Customer-Level Demand for Electricity Under Real-Time Market Pricing.” Mimeo.
Patrick, Robert H., and Frank A. Wolak. 1997b. Customer Load Response to Spot Prices in England: Implications for Retail Service Design. TR-109143, Electric Power Research Institute, Palo Alto, CA.
Phelps, A.K. 1994. “A Study of Real Time Pricing in the UK: The Midlands Electricity Experience.” Midlands Electricity plc, Halesowen, United Kingdom. Mimeo.
Stewart, Thomas A. 1997. “When Change is Total, Exciting and Scary.” Fortune (March 3): 169–170
Wilson, Robert. 1993. Nonlinear Pricing. Oxford University Press.
Wolak, Frank A., and Robert H. Patrick. 1997. “The Impact of Market Rules and Market Structure on the Price Determination Process in the England and Wales Electricity Market.” Mimeo.
Wolak, Frank A., and Robert H. Patrick. 1996a. “Industry Structure and Regulation in the England and Wales Electricity Market.” In Pricing and Regulatory Innovations Under Increasing Competition, edited by M.A. Crew. Boston, MA: Kluwer Academic Publishers.
Wolak, Frank A., and Robert H. Patrick. 1996b. “The Time Series Behavior of Market Prices and Output in the England and Wales Electricity Market.” Mimeo.
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1999 Springer Science+Business Media New York
About this chapter
Cite this chapter
Patrick, R.H., Wolak, F.A. (1999). Customer Response to Real-Time Prices in the England and Wales Electricity Market: Implications for Demand-Side Bidding and Pricing Options Design Under Competition. In: Crew, M.A. (eds) Regulation Under Increasing Competition. Topics in Regulatory Economics and Policy Series, vol 30. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-5117-1_9
Download citation
DOI: https://doi.org/10.1007/978-1-4615-5117-1_9
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4613-7328-5
Online ISBN: 978-1-4615-5117-1
eBook Packages: Springer Book Archive