This paper analyses the organisation of coordination between generation and transmission in a liberalized power system. We rely on a modular analysis framework in order to split in distinct modules the coordination mechanisms. In a logic of institutional complementarities, the governance...

In Welfare Economics natural monopoly and price theory have been given as the relevant framework for analyzing network industries. New Institutional Economics and the experiment in reforming these industries suggest that contracting for being served is the critical point. Contractual...