The increase in distributed generation and the increasingly pro-active role of mass consumers demand “smart” distribution networks. To this aim, regulation too must innovate, in order to promote innovative and additional infrastructural investments.This paper develops, first, a...

Analysis of market power in electricity markets is relevant for understanding the competitive development of the industry's restructuring and liberalization process. Because the existing literature lacks adequate consideration of line transmission congestion, this paper sets forth a new approach...

There is a trend in regulatory practice towards exceptional incentives for exceptional investments. Italy and the US have the longest experience with a regulatory framework for strategically important investments that deviates from the default framework. In these countries, the incentives...

It is generally accepted that institutions are important for economic development. However, whether the performance of regulated utilities within a country is affected by the quality of institutions is yet to be investigated thoroughly. We analyse how the quality of regional institutions impact...

This paper analyzes the efficiency of Italy's local electricity distributors according to two different measurement techniques. Distribution zones belonging to the national monopolist (ENEL) are compared with municipally-owned utilities (MUNIs) which serve individual towns and are usually owned...

In the last decade a new regulatory framework for electric utilities, aiming at a gradual liberalization of the sector, has been set in Europe. The promotion of competition among generators implies the need to separate power generation from downstream transmission and distribution activities....