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Under an Act of 1926, a 'public interest' corporation, the Central Electricity Board, was empowered to build a national transmission grid and rationalize U.K. electricity generation. A constrained cost model estimates the gains from this reregulation of the electricity generating industry. The...
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The privatization of the electricity supply industry in England and Wales has established a decentralized system of supply. This paper considers the efficiency of the decentralized interwar electricity supply industry. A generalized stochastic frontier cost function is specificed, enabling the...
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