The Restructuring and Privatization of the U.K. Electricity Supply-Was It Worth It?
The electricity supply industry in England and Wales was under public ownership from 1948 to 1990. For most of this period, the Central Electricity Generating Board (CEGB) operated all generation and transmission as a vertically integrated statutor...
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/1997/09/441280/restructuring-privatization-uk-electricity-supply-worth http://hdl.handle.net/10986/11572 |
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okr-10986-115722021-06-14T11:03:39Z The Restructuring and Privatization of the U.K. Electricity Supply-Was It Worth It? Newbery, David M. Pollitt, Michael G. ACID RAIN BENEFIT ANALYSIS BURNING GAS CALCULATION CARBON CARBON DIOXIDE CARBON DIOXIDE EMISSIONS COAL COAL BURNING COAL MINERS COAL PLANT COAL PRICES COST SAVINGS CYCLE GAS DISCOUNT RATE ECONOMIC ACTIVITY ECONOMIC EFFECTS ELECTRICITY ELECTRICITY GENERATING BOARD ELECTRICITY GENERATION ELECTRICITY PRICES ELECTRICITY SUPPLY EMISSIONS ENVIRONMENTAL BENEFITS EXTERNALITIES EXTERNALITY FOSSIL FUEL FUEL SWITCHING FUEL USE GAS GAS GENERATION GAS TURBINES GDP GLOBAL WARMING INCOME LABOR PRODUCTIVITY MARGINAL COST MARGINAL COSTS MONOPOLIES NATIONAL GRID NATURAL GAS NITROGEN OXIDE EMISSIONS NITROGEN OXIDES NUCLEAR INDUSTRY NUCLEAR POWER NUCLEAR POWER STATIONS OIL OIL PRICES POWER GENERATION POWER STATIONS PRODUCTIVITY GROWTH PROFIT MARGINS SAVINGS SULFUR DIOXIDE SULFUR DIOXIDE EMISSIONS TAX REVENUE VALUE ADDED WHOLESALE PRICES ELECTRICAL INDUSTRIES MONOPOLIES DENATIONALIZATION COST-BENEFIT ANALYSIS COUNTERFACTUAL NET BENEFITS The electricity supply industry in England and Wales was under public ownership from 1948 to 1990. For most of this period, the Central Electricity Generating Board (CEGB) operated all generation and transmission as a vertically integrated statutory monopoly. In 1990, the CEGB was restructured and privatized. This Note describes how a social cost-benefit analysis is conducted to assess the worthiness of the exercise and reports the results. The analysis shows that the effort was worth it. But there are two areas for improvement in the process of the restructuring and privatization. First, about a quarter of the net gains were transferred out of the country. If more attention had been paid to this possibility at the time of restructuring, some arrangement could probably have been found to prevent it. Second, introducing more competition in generation would have reduced excess entry and lowered prices, improving the distribution of the net benefits and increasing social welfare. 2012-08-13T15:25:46Z 2012-08-13T15:25:46Z 1997-09 http://documents.worldbank.org/curated/en/1997/09/441280/restructuring-privatization-uk-electricity-supply-worth http://hdl.handle.net/10986/11572 English Viewpoint: Public Policy for the Private Sector; Note No. 124 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Viewpoint Publications & Research Europe and Central Asia United Kingdom |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACID RAIN BENEFIT ANALYSIS BURNING GAS CALCULATION CARBON CARBON DIOXIDE CARBON DIOXIDE EMISSIONS COAL COAL BURNING COAL MINERS COAL PLANT COAL PRICES COST SAVINGS CYCLE GAS DISCOUNT RATE ECONOMIC ACTIVITY ECONOMIC EFFECTS ELECTRICITY ELECTRICITY GENERATING BOARD ELECTRICITY GENERATION ELECTRICITY PRICES ELECTRICITY SUPPLY EMISSIONS ENVIRONMENTAL BENEFITS EXTERNALITIES EXTERNALITY FOSSIL FUEL FUEL SWITCHING FUEL USE GAS GAS GENERATION GAS TURBINES GDP GLOBAL WARMING INCOME LABOR PRODUCTIVITY MARGINAL COST MARGINAL COSTS MONOPOLIES NATIONAL GRID NATURAL GAS NITROGEN OXIDE EMISSIONS NITROGEN OXIDES NUCLEAR INDUSTRY NUCLEAR POWER NUCLEAR POWER STATIONS OIL OIL PRICES POWER GENERATION POWER STATIONS PRODUCTIVITY GROWTH PROFIT MARGINS SAVINGS SULFUR DIOXIDE SULFUR DIOXIDE EMISSIONS TAX REVENUE VALUE ADDED WHOLESALE PRICES ELECTRICAL INDUSTRIES MONOPOLIES DENATIONALIZATION COST-BENEFIT ANALYSIS COUNTERFACTUAL NET BENEFITS |
| spellingShingle |
ACID RAIN BENEFIT ANALYSIS BURNING GAS CALCULATION CARBON CARBON DIOXIDE CARBON DIOXIDE EMISSIONS COAL COAL BURNING COAL MINERS COAL PLANT COAL PRICES COST SAVINGS CYCLE GAS DISCOUNT RATE ECONOMIC ACTIVITY ECONOMIC EFFECTS ELECTRICITY ELECTRICITY GENERATING BOARD ELECTRICITY GENERATION ELECTRICITY PRICES ELECTRICITY SUPPLY EMISSIONS ENVIRONMENTAL BENEFITS EXTERNALITIES EXTERNALITY FOSSIL FUEL FUEL SWITCHING FUEL USE GAS GAS GENERATION GAS TURBINES GDP GLOBAL WARMING INCOME LABOR PRODUCTIVITY MARGINAL COST MARGINAL COSTS MONOPOLIES NATIONAL GRID NATURAL GAS NITROGEN OXIDE EMISSIONS NITROGEN OXIDES NUCLEAR INDUSTRY NUCLEAR POWER NUCLEAR POWER STATIONS OIL OIL PRICES POWER GENERATION POWER STATIONS PRODUCTIVITY GROWTH PROFIT MARGINS SAVINGS SULFUR DIOXIDE SULFUR DIOXIDE EMISSIONS TAX REVENUE VALUE ADDED WHOLESALE PRICES ELECTRICAL INDUSTRIES MONOPOLIES DENATIONALIZATION COST-BENEFIT ANALYSIS COUNTERFACTUAL NET BENEFITS Newbery, David M. Pollitt, Michael G. The Restructuring and Privatization of the U.K. Electricity Supply-Was It Worth It? |
| geographic_facet |
Europe and Central Asia United Kingdom |
| relation |
Viewpoint: Public Policy for the Private Sector; Note No. 124 |
| description |
The electricity supply industry in
England and Wales was under public ownership from 1948 to
1990. For most of this period, the Central Electricity
Generating Board (CEGB) operated all generation and
transmission as a vertically integrated statutory monopoly.
In 1990, the CEGB was restructured and privatized. This Note
describes how a social cost-benefit analysis is conducted to
assess the worthiness of the exercise and reports the
results. The analysis shows that the effort was worth it.
But there are two areas for improvement in the process of
the restructuring and privatization. First, about a quarter
of the net gains were transferred out of the country. If
more attention had been paid to this possibility at the time
of restructuring, some arrangement could probably have been
found to prevent it. Second, introducing more competition in
generation would have reduced excess entry and lowered
prices, improving the distribution of the net benefits and
increasing social welfare. |
| format |
Publications & Research :: Viewpoint |
| author |
Newbery, David M. Pollitt, Michael G. |
| author_facet |
Newbery, David M. Pollitt, Michael G. |
| author_sort |
Newbery, David M. |
| title |
The Restructuring and Privatization of the U.K. Electricity Supply-Was It Worth It? |
| title_short |
The Restructuring and Privatization of the U.K. Electricity Supply-Was It Worth It? |
| title_full |
The Restructuring and Privatization of the U.K. Electricity Supply-Was It Worth It? |
| title_fullStr |
The Restructuring and Privatization of the U.K. Electricity Supply-Was It Worth It? |
| title_full_unstemmed |
The Restructuring and Privatization of the U.K. Electricity Supply-Was It Worth It? |
| title_sort |
restructuring and privatization of the u.k. electricity supply-was it worth it? |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/1997/09/441280/restructuring-privatization-uk-electricity-supply-worth http://hdl.handle.net/10986/11572 |
| _version_ |
1764417218803662848 |