Is electricity deregulation beneficial to Israel
Identifieur interne : 001523 ( Main/Exploration ); précédent : 001522; suivant : 001524Is electricity deregulation beneficial to Israel
Auteurs : Asher Tishler [Israël] ; Chikeung Woo [États-Unis]Source :
- International Journal of Energy Sector Management [ 1750-6220 ] ; 2007-05-22.
Abstract
Purpose The objective of the paper is to analyse the economic justification of introducing deregulation to Israel's regulated electricity market and infer whether such a policy change makes sense for the country. Designmethodologyapproach The paper employs an analytical model of electricity market equilibrium under regulation and deregulation. It considers two technologies coalfired generators and combined cycle gas turbines, and two timeofday prices peak and offpeak. It analyzes pricing, revenues, profits and consumer surplus both for the regulated industry and the deregulated industry where firms compete, during the peak and offpeak periods, according to the Cournot conjecture. The model is then applied to the Israeli case. Findings The analysis shows that a workably competitive electricity market with financially viable firms does not improve net benefits to Israeli society. A deregulated market is likely to yield smaller net benefits than a regulated market, and certainly a smaller consumer surplus. This happens since efficiency improvements in generation costs under deregulation will not be sufficient to compensate for the reduction in consumer surplus due to higher electricity prices under deregulation. Research limitationsimplications The simplifications used in the analytical model for ease of analysis and presentation could have influenced some results. Practical implications The findings of the paper would have significant relevance for electricity sector deregulation in Israel and other regions that currently have a regulated electricity sector e.g. Hong Kong, Africa, and many parts of North America. Originalityvalue The value of the paper lies in its ability to demonstrate the inherent weaknesses of the deregulation policy through an analytical model.
Url:
DOI: 10.1108/17506220710836066
Affiliations:
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Designmethodologyapproach The paper employs an analytical model of electricity market equilibrium under regulation and deregulation. It considers two technologies coalfired generators and combined cycle gas turbines, and two timeofday prices peak and offpeak. It analyzes pricing, revenues, profits and consumer surplus both for the regulated industry and the deregulated industry where firms compete, during the peak and offpeak periods, according to the Cournot conjecture. The model is then applied to the Israeli case. Findings The analysis shows that a workably competitive electricity market with financially viable firms does not improve net benefits to Israeli society. A deregulated market is likely to yield smaller net benefits than a regulated market, and certainly a smaller consumer surplus. This happens since efficiency improvements in generation costs under deregulation will not be sufficient to compensate for the reduction in consumer surplus due to higher electricity prices under deregulation. Research limitationsimplications The simplifications used in the analytical model for ease of analysis and presentation could have influenced some results. Practical implications The findings of the paper would have significant relevance for electricity sector deregulation in Israel and other regions that currently have a regulated electricity sector e.g. Hong Kong, Africa, and many parts of North America. Originalityvalue The value of the paper lies in its ability to demonstrate the inherent weaknesses of the deregulation policy through an analytical model.</div></front></TEI><affiliations><list><country><li>Israël</li><li>États-Unis</li></country><region><li>Californie</li></region></list><tree><country name="Israël"><noRegion><name sortKey="Tishler, Asher" sort="Tishler, Asher" uniqKey="Tishler A" first="Asher" last="Tishler">Asher Tishler</name></noRegion></country><country name="États-Unis"><region name="Californie"><name sortKey="Woo, Chikeung" sort="Woo, Chikeung" uniqKey="Woo C" first="Chikeung" last="Woo">Chikeung Woo</name></region></country></tree></affiliations></record>Pour manipuler ce document sous Unix (Dilib)
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