Over the past 10 years, the government has privatised two energy industries — gas and electricity — and is presently selling British Coal. Vickers and Yarrow (1988) point out that the privatisation of utilities has two components, for the sale of assets to the private sector may be...

Starting in 1998, the electricity market in England and Wales will be opened up to full competition,and all consumers will be allowed to choose their electricity supplier. This promises to result in lower prices, but there will be additional transactions costs exceeding £100 million a year for...