A Counterfactual Price Analysis of British Electricity Privatisation

Research output: Contribution to journalArticle

12 Citations (Scopus)

Abstract

The aim of this paper is to challenge the widely held view that electricity privatisation in Great Britain (comprised of the markets of England and Wales, and Scotland) was beneficial simply because the price of electricity has subsequently fallen in real terms. This is carried out by comparing the electricity prices actually observed with those that might have been charged had the industry remained in public ownership. In order to do this the paper develops a counterfactual scenario for the likely decisions and effects of a publicly owned industry. This leads the paper to conclude that observed prices are indeed significantly higher than they would have been had privatisation not occurred.
LanguageEnglish
Pages31-46
Number of pages16
JournalUtilities Policy
Volume9
Issue number1
DOIs
StatusPublished - 2000

Fingerprint

privatization
electricity
industry
ownership
scenario
market
analysis
price
Industry
Privatization
Electricity
Wales
England
Public ownership
Scotland
Scenarios
Electricity price

Keywords

  • Electricity; Privatisation; Counterfactual price analysis

Cite this

A Counterfactual Price Analysis of British Electricity Privatisation. / Branston, J. Robert.

In: Utilities Policy, Vol. 9, No. 1, 2000, p. 31-46.

Research output: Contribution to journalArticle

@article{20027754cbbc44e6af39ea0fcd2e9166,
title = "A Counterfactual Price Analysis of British Electricity Privatisation",
abstract = "The aim of this paper is to challenge the widely held view that electricity privatisation in Great Britain (comprised of the markets of England and Wales, and Scotland) was beneficial simply because the price of electricity has subsequently fallen in real terms. This is carried out by comparing the electricity prices actually observed with those that might have been charged had the industry remained in public ownership. In order to do this the paper develops a counterfactual scenario for the likely decisions and effects of a publicly owned industry. This leads the paper to conclude that observed prices are indeed significantly higher than they would have been had privatisation not occurred.",
keywords = "Electricity; Privatisation; Counterfactual price analysis",
author = "Branston, {J. Robert}",
year = "2000",
doi = "10.1016/S0957-1787(01)00003-0",
language = "English",
volume = "9",
pages = "31--46",
journal = "Utilities Policy",
issn = "0957-1787",
publisher = "Elsevier",
number = "1",

}

TY - JOUR

T1 - A Counterfactual Price Analysis of British Electricity Privatisation

AU - Branston, J. Robert

PY - 2000

Y1 - 2000

N2 - The aim of this paper is to challenge the widely held view that electricity privatisation in Great Britain (comprised of the markets of England and Wales, and Scotland) was beneficial simply because the price of electricity has subsequently fallen in real terms. This is carried out by comparing the electricity prices actually observed with those that might have been charged had the industry remained in public ownership. In order to do this the paper develops a counterfactual scenario for the likely decisions and effects of a publicly owned industry. This leads the paper to conclude that observed prices are indeed significantly higher than they would have been had privatisation not occurred.

AB - The aim of this paper is to challenge the widely held view that electricity privatisation in Great Britain (comprised of the markets of England and Wales, and Scotland) was beneficial simply because the price of electricity has subsequently fallen in real terms. This is carried out by comparing the electricity prices actually observed with those that might have been charged had the industry remained in public ownership. In order to do this the paper develops a counterfactual scenario for the likely decisions and effects of a publicly owned industry. This leads the paper to conclude that observed prices are indeed significantly higher than they would have been had privatisation not occurred.

KW - Electricity; Privatisation; Counterfactual price analysis

UR - http://dx.doi.org/10.1016/S0957-1787(01)00003-0

U2 - 10.1016/S0957-1787(01)00003-0

DO - 10.1016/S0957-1787(01)00003-0

M3 - Article

VL - 9

SP - 31

EP - 46

JO - Utilities Policy

T2 - Utilities Policy

JF - Utilities Policy

SN - 0957-1787

IS - 1

ER -