The role of policy in energy transitions: Lessons from the energy liberalisation era

Energy Policy

Volumn 50, Issue , 2012, Pages 128-137

  Pollitt, Michael G ^a  

^a UNIVERSITY OF CAMBRIDGE   (United Kingdom)

Author keywords

Energy liberalisation; Energy privatisation; Energy transition

Indexed keywords

EFFICIENCY GAIN; ENERGY TRANSITIONS; ENVIRONMENTAL EMISSIONS; LIBERALISATION; LOW CARBON; LOW-CARBON ENERGY SYSTEMS; POLICY INSTRUMENTS; TRADING MECHANISM;

ENERGY POLICY;

PRIVATIZATION;

EMISSION CONTROL; ENERGY MARKET; ENERGY POLICY; GOVERNANCE APPROACH; LIBERALIZATION; MARKET TRANSITION; MONOPOLY; PRIVATIZATION; REGULATORY FRAMEWORK; WILLINGNESS TO PAY;

EID: 84866921887     PISSN: 03014215     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.enpol.2012.03.004     Document Type: Article

References (86)

1. Anaya K. The restructuring and privatisation of the Peruvian electricity distribution market. Electricity Policy Research Group Working Paper No 2010, 1010.
2. Arocena P., Blazquez L., Grifell-Tatje E. Assessing the consequences of restructuring reforms on firms' performance. Journal of Economic Policy Reform 2011, 14(2):21-39.
3. Barmack M., Kahn E., Tierney S. A cost-benefit assessment of wholesale electricity restructuring and competition in New England. Journal of Regulatory Economics 2007, 31(2):151-184.
4. Besant-Jones, J., 2006. Reforming power markets in developing countries: what have we learned? Mining and Energy Board Discussion Paper, No.19, World Bank.
5. Boardman A.E., Laurin C., Moore M.M., Vining A.R. A cost-benefit analysis of the privatization of Canadian national railway. Canadian Public Policy 2009, 35(1):59-83.
6. Boubakri N., Cosset J.-C., Guedhami O. From state to private ownership: issues from strategic industries. Journal of Banking and Finance 2009, 33:367-379.
7. BP, 2011. BP Statistical Review of Energy 2011. London, BP.
8. Brau R., Doronzo R., Fiorio C.V., Florio M. EU gas reforms and consumers' prices. The Energy Journal 2010, 31(4):167-182.
9. Bridgman B., Gomes V., Teixeria A. Threatening to increase productivity: evidence from Brazil's oil industry. World Development 2011, 39(8):1372-1385.
10. Checchi D., Florio M., Carrera J. Privatisation discontent and utility reform in Latin America. Journal of Development Studies 2009, 45(3):333-350.
11. Chick M. Electricity and Energy Policy in Britain, France and the United States Since 1945 2007, Edward Elgar, Cheltenham.
12. Chick M. The 3Rs: regulation, risk and responsibility in British utilities since 1945. Business History 2011, 53(5):747-760.
13. Chisari O., Estache A., Romero C. Winners and losers from the privatization and regulation of utilities: lessons from a general equilibrium model of Argentina. World Bank Economic Review 1999, 13(2):357-378.
14. Convery, F., Ellerman, D., de Perthuis, C., 2008. The European Carbon Market in Action: Lessons from the first Trading Period-Interim Report, March, MIT/CEEPR.
15. Copenhagen Economics, 2005. Market Opening in Network Industries: Part I.: Final Report, Brussels: European Commission.
16. DECC, 2011. Planning our electric future: a White Paper for secure, affordable and low-carbon electricity, CM 8099, London, UK Stationery Office.
17. Domah P.D., Pollitt M.G. The restructuring and privatisation of the regional electricity companies in England and Wales: a social cost benefit analysis. Fiscal Studies 2001, 22(1):107-146.
18. D'Souza J., Megginson W.L. The financial and operating performance of privatized firms during the 1990s. Journal of Finance 1999, 54(4):1397-1438.
19. Ellerman D., Joskow P.L., Harrison D. Emissions Trading in the U.S.: Experience, Lessons and Considerations for Greenhouse Gases 2003, Pew Center on Global Climate Change, Arlington VA.
20. Ellerman, A., 2003. Ex Post Evaluation of Tradable Permits: The U.S. SO2 Cap-and-Trade Program. MIT CEEPR Working Paper, 003-003.
21. European Commission Energy in Europe: The Internal Energy Market 1988, European Commission, Brussels.
22. Fabrizio K., Rose N., Wolfram C. Do markets reduce costs? assessing the impact of regulatory restructuring on U.S. electric generation efficiency. American Economic Review 2007, 97(4):1250-1277.
23. Fiorio, C.V., Florio, M., Doronzo, R., 2007. The Electricity Industry Reform Paradigm in the European Union: Testing the Impact on Consumers, Paper delivered at Consumers and Utility Reforms in the European Union Conference, Milan, June 8-9, 2007.
24. Fiorio C.V., Florio M. Would you say that the price you pay for electricity is fair? Consumers' satisfaction and utility reforms in the EU15. Energy Economics 2011, 33(2):178-187.
25. Florio M. The Great Divestiture-Evaluating the Welfare Impact of the British Privatizations, 1979-1997 2004, MIT Press, Cambridge, MA.
26. Foreman-Peck J., Waterson M. The comparative efficiency of public and private enterprise in Britain: electricity generation between the world wars. Economic Journal 1985, 95(supplement):83-95.
27. Fouquet R., Pearson P.J.G. Seven centuries of energy services: the price and use of light in the United Kingdom (1300-2000). The Energy Journal 2006, 7(1):139-177.
28. Galal A., Jones L., Tandon P., Vogelsang I. Welfare Consequences of Selling Public Enterprises: An Empirical Analysis 1994, Oxford University Press, Oxford.
29. Garcia L.A.R. The liberalisation of the Spanish gas market. Energy Policy 2006, 34(13):1630-1644.
30. Gao, H., Van Biesebroeck, J., 2011. Effects of Deregulation and Vertical Unbundling on the Performance of China's Electricity Generation Sector, CEPR Discussion Paper Series, No.8695.
31. Grubler A. Historical Lessons for Future Energy Transitions and Policies, Presentation at Past and Prospective Energy Transitions 2011, Cardiff University, April 18-20.
32. Hahn R. Economic prescriptions for environmental problems: how the patient followed doctor's orders. Journal of Economic Perspectives 1989, 3(2):95-114.
33. Hattori T., Tsutsui M. Economic impact of regulatory reforms in the electricity supply industry: a panel data analysis for OECD countries. Energy Policy 2004, 32(6):823-832.
34. Heaslip J., Hilson G. Winners and losers from industry reforms in the developing world: experiences from the electricity and mining sectors. Resources Policy 2005, 30(2):87-100.
35. Jamasb, T., Mota, R., Newbery, D., Pollitt, M., 2004. Electricity sector reform in developing countries: a survey of empirical evidence on determinants and performance, Cambridge Working Papers in Economics, No.0439.
36. Jamasb T., Pollitt M. Electricity market reform in the European Union: review of progress toward liberalization and integration. The Energy Journal. Special Issue on European Electricity Liberalisation 2005, 11-41.
37. Jamasb T., Pollitt M. Liberalisation and R&D in network industries: the case of the electricity industry. Research Policy 2008, 37(6-7):995-1008.
38. Jamasb T., Pollitt M.G. Electricity sector liberalisation and innovation: an analysis of the UK's patenting activities. Research Policy 2011, 40(2):309-324.
39. Johansson, B. (2000), Economic Instruments in Practice 1: Carbon Tax in Sweden, Paris: OECD. Available at: accessed 11 October 2011. http://www.oecd.org/dataoecd/25/0/2108273.pdf.
40. Jones L.P., Tandon P., Vogelsang I. Selling Public Enterprises: A Cost-Benefit Methodology 1990, MIT Press, Cambridge, MA.
41. Jorgenson D.W., Wilcoxen P.J. Environmental regulation and U.S. economic growth. Rand Journal of Economics 1990, 21(2):314-340.
42. Joskow P.L., Schmalensee R. Markets for Power: An Analysis of Electric Utility Deregulation 1983, MIT Press, Cambridge, MA.
43. Joskow P.L. Introduction to electricity sector liberalization: lessons learned from cross-country studies. Electricity Market Reform: An International Perspective 2006, Elsevier, Oxford. F.P. Sioshansi, W. Pfaffenberger (Eds.).
44. Joskow P. Markets for power in the United States: an interim assessment. The Energy Journal 2006, 27(1):1-36.
45. Keay M. The Dynamics of Power: Power Generation Investment in Liberalised Electricity Markets 2006, Oxford Institute for Energy Studies, Oxford.
46. Privatisation Experiences in the European Union 2006, MIT Press, Cambridge, MA. M. Kothenburger, H.-W. Sinn, J. Whalley (Eds.).
47. Kwoka J., Pollitt M. Do mergers improve efficiency? Evidence from restructuring the US electric power sector. International Journal of Industrial Organization 2010, 28(6):645-656.
48. Lorenzoni I., Pidgeon N.F. Public views on climate change: European and USA perspectives. Climate Change 2006, 77:73-95.
49. Marsh D. Privatisation under Mrs Thatcher: review of the literature. Public Administration 1991, 69(Winter):459-480.
50. Millward R., Ward R. The costs of public and private gas enterprises in late 19th Century Britain. Oxford Economic Papers 1987, 39(4):719-737.
51. Millward, R., 2010. Public Enterprise in the Modern Western World: An Historical Analysis, Milan European Economy Workshop, University of Milan, Italy, Working Paper 2010-26.
52. Mota, R., 2003. The Restructuring and Privatisation of Electricity Distribution and Supply Business in Brazil: A Social Cost-Benefit Analysis, DAE Working Paper No. 309 (January), Department of Applied Economics, University of Cambridge, Cambridge.
53. Moore J. Privatisation Everywhere: The World's Adoption of the British Experience 1992, Centre for Policy Studies, London.
54. Nagayama H. Electric power sector reform liberalization models and electric power prices in developing countries-An empirical analysis using international panel data. Energy Economics 2009, 31:463-472.
55. Neuhoff K. Learning by doing with constrained growth rates: an application to energy technology policy. The Energy Journal 2008, 29:165-182. (Special I).
56. Newbery D.M.G., Pollitt M.G. Restructuring and Privatisation of the CEGB-Was It Worth It?. Journal of Industrial Economics 1997, 45(3):269-304.
57. O'Mahony M., Vecchi M. The electricity supply industry: a study of an industry in transition. National Institute Economic Review 2001, 177:85-99.
58. Parker M.J. Thatcherism and the Fall of Coal 2000, Oxford University Press, Oxford.
59. Pollitt M. The Survey of the liberalization of public enterprises in the UK since 1979. Privatization, deregulation and institutional framework 1999, 120-169. Institute of Developing Economies, Tokyo. M. Kagami, M. Tsuji (Eds.).
60. Pollitt M. Electricity reform in Argentina: lessons for developing countries. Energy Economics 2008, 30(4):1536-1567.
61. Pollitt M. Evaluating the evidence on electricity reform: lessons for the South East Europe (SEE) market. Utilities Policy 2009, 17(1):13-23.
62. Pollitt, M.G., 2009b. Electricity liberalisation in the European Union: a progress report, Electricity Policy Research Group Working Paper No. 0929.
63. Rodriguez-Boetsch L. Public sector privatisation and crisis in Argentina. Development in Practice 2005, 15(3-4):302-315.
64. Roland G. Privatisation: Successes and Failures 2008, Columbia University Press, New York.
65. Rossi M. Technical change and efficiency measures: the post-privatisation in the gas distribution sector. Energy Economics 2001, 23(3):295-304.
66. Ruffin C. The Political Economy of Institutional Change in the Electricity Supply Industry: Shifting Currents 2003, Edward Elgar, Cheltenham.
67. Rutledge I. UK Energy policy and market fundamentalism: a historical overview. UK Energy Policy and the End of Market Fundamentalism 2010, 1-38. Oxford University Press, Oxford. I. Rutledge, P. Wright (Eds.).
68. Shi X., Grafton R. Efficiency impacts of the Chinese industrial transition: a quantitative evaluation of reforms in the coal industry. Economic Change and Restructuring 2010, 43(1):1-19.
69. 2006, Elsevier, Oxford. F.P. Sioshansi, W. Pfaffenberger (Eds.).
70. Steiner F. Regulation, industry structure and performance in the electricity supply industry. OECD Economic Studies 2001, 32(1):143-182.
71. Stratford D. Measuring gains from regional dispatch: coal-fired power plant utilisation and market reforms. The Energy Journal 2006, 27(1):119-138.
72. Sueyoshi T., Goto M., Ueno T. Performance analysis of US coal-fired power plants by measuring three DEA efficiencies. Energy Policy 2010, 38(4):1675-1688.
73. Sweeney, J.L. 2006. California Electricity Restructuring, The Crisis and Its Aftermath. In: Sioshansi and Pfaffenberger (Eds.), pp.319-382.
74. Toba N. Welfare impacts of electricity generation sector reform in the Philippines. Energy Policy 2007, 35(12):6145-6162.
75. Toba, N., 2002. Welfare Impacts of Electricity Sector Reform in the Philippines. Ph.D. Thesis. University of Cambridge.
76. Triebs, T., Kwoka, J., Pollitt, M., 2010. The Direct Costs and Benefits of US Electric Utility Divestitures, Electricity Policy Research Group Working Paper No.1024.
77. 2003, Edward Elgar, Cheltenham. C. Ugaz, C. Waddams Price (Eds.).
78. Uri, N.D., 1999. The 1999 Staff TFP Study, Washington D.C. FCC. Available at: accessed October 11, 2011. http://transition.fcc.gov/Bureaus/Common_Carrier/Notices/.
79. Viscusi W.K., Vernon J.M., Harrington J.E. Economics of Regulation and Antitrust 2005, MIT Press, Cambridge MA. 4th edition.
80. Waddams Price C., Weyman-Jones T.J. Malmquist indices of productivity change in the UK gas industry before and after privatization. Applied Economics 1996, 28(1):29-39.
81. Weart S. The Discovery of Global Warming 2004, Harvard University Press, Cambridge MA.
82. Williams T.I. A History of the British Gas Industry 1981, Oxford University Press, Oxford.
83. Wolf, C., Pollitt, M.G., 2008. Privatising national oil companies: Assessing the impact on firm performance. Electricity Policy Research Group Working Paper No.0805.
84. Wolf, C., Pollitt, M.G., 2009. The welfare implications of oil privatisation: a cost-benefit analysis of Norway's Statoil, Electricity Policy Research Group Working Paper No.0905.
85. Zelner B.A., Henisz W.J., Holburn G.L.F. Contentious implementation and retrenchment in neoliberal policy reform: the global electricity power industry 1989-2001. Administrative Science Quarterly 2009, 54:379-412.
86. Zientara P. Restructuring the coal mining industry: unionism, conflict and cooperation: evidence from Poland. Eastern European Economics 2009, 47(1):41-59.