International Handbook on the Economics of Energy
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International Handbook on the Economics of Energy

Edited by Joanne Evans and Lester C. Hunt

As an essential component for economic growth, energy has a significant impact on the global economy. The need to meet growing energy demand has prompted cutting-edge innovation in clean technology in an attempt to realise environmental and cost objectives, whilst ensuring the security of energy supply. This Handbook offers a comprehensive review of the economics of energy, including contributions from a distinguished array of international specialists. It provides a thorough discussion of the major research issues in this topical field of economics.
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Chapter 28: Electricity Retail Competition and Pricing: An International Review

Seth Blumsack and Dmitri Perekhodtsev


Historically there has been a strong link between the electricity industry performance and the actions taken by its regulators. Until modern restructuring began in the 1990s in the UK, the US, and elsewhere in the world, most consumers of electric power had never experienced anything other than either their local or regional regulated and vertically integrated or publicly owned national utility company. During the regulated era, prices faced by consumers were set at a level which would allow the utility to recover its capital, operating, and maintenance costs, plus an acceptable level of profit. In the US, rates were generally set through a series of hearings before state regulatory bodies known as public utility commissions....

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