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MARKETS, IMPER FECTIONS AND THE DANGERS OF OVER‐REGULATING ENERGY MARKETS
Author(s) -
Robinson Colin
Publication year - 2004
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2004.00474.x
Subject(s) - government (linguistics) , competition (biology) , electricity , business , energy (signal processing) , market economy , energy policy , public economics , industrial organization , government regulation , economics , natural resource economics , commerce , renewable energy , engineering , political science , law , ecology , china , philosophy , linguistics , statistics , mathematics , electrical engineering , biology
Government regulation in general has over‐expanded. However, in British energy markets, a new form of regulation, concentrating on promoting competition in gas and electricity, has emerged to the benefit of consumers. If the government pursues its policy of targeting favoured energy activities, these gains will disappear, the costs of achieving environmental targets will be unnecessarily heavy and energy markets will be re‐politicised.