closer look at the transfer-rule?s ecological impacts and competitive effects in the field of electricity generation. The …-rule causes windfall profits for incumbent generators and leads to a significant distortion of competition. This cannot be …

areas. In particular, the U.S. telecommunications sector was hit by a deep crisis and electricity reforms suffered under the … experiences in other areas suggesting that competition could provide large benefits to hitherto regulated utilities in local … telephony and the electricity sector. Part of the explanation lies in an underestimate of the coordination problems, resulting …

before they buy electricity in the wholesale market, we show that welfare is highest if competition in generation and …This paper studies how competition and vertical structure jointly determine generating capacities, retail prices, and … welfare in the electricity industry. Analyzing a model in which demand is uncertain and retailers must commit to retail prices …