This paper examines a three-period model of an investment decision in a network industry characterized by demand uncertainty, economies of scale and sunk costs. In the absence of regulation we identify the market conditions under which a monopolist decides to invest early as well as the...

This paper develops an empirical strategy to identify maverick-like behavior. This strategy includes measuring two behavioral dimensions: (i) the extent to which particular suppliers underprice rivals; and (ii) the timing of the suppliers' responses to systemic cost changes. This strategy is...

It is well-understood that the success of liberalizing the electricity supply industry depends crucially on the quality and design of the regulatory and institutional framework. This paper analyses the regulatory arrangements that underpin the work of the Australian Energy Regulator (AER). These...

It is well-understood that the success of liberalizing the electricity supply industry depends crucially on the quality and design of the regulatory and institutional framework. This paper analyses the regulatory arrangements that underpin the work of the Australian Energy Regulator (AER). These...

The winners of auctions for pubic-private partnership contracts, especially for major infrastructure projects such as highways, often enter financial distress, requiring the concession to be reallocated or renegotiated. We build a simple model to identify the causes and consequences of such...

Incentive regulation needs to adapt to the emerging changes in the operating environment of the electricity networks and take into account the security of these. This paper assesses the current issues and options in economic regulation of network security across the European electricity systems....

Energy efficiency improvement is considered to be a desirable response to growing climate change and security of energy supply concerns. This paper studies the impacts of a varied set of macro-level market-oriented reforms on economy wide measure of energy efficiency across a group of transition...

It has been more than two decades since the widespread initiation of global energy sector reforms and restructuring. However, the empirical evidence on the microeconomic, macroeconomic and quality related performance of reforms across developing countries needs to be examined considering the...

Economic theory suggests that market-based policies and reforms should promote energy efficiency in developing and transition countries. This paper, therefore, analyses the impacts of a varied set of market-oriented macro-level reforms on macro level energy efficiency across the transition...

The incentive regulation of costs related to physical and cyber security in electricity networks is an important but relatively unexplored and ambiguous issue. These costs can be part of a cost efficiency benchmarking or alternatively dealt separately. This paper discusses the issues and...