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Climate change and security of supply policies are driving us towards a decarbonization of the electricity system. It is in this context that smart grids are being discussed. Electricity grids, and hence their regulatory frameworks, have a key role to play in facilitating this transformation of...
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In the current context of a decarbonizing electricity system, grid innovation is needed to deal with the main challenges of integrating distributed generation, demand and storage, and large-scale renewable energy sources. Grid companies however have disincentives to innovate under the...
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This paper first reviews some of the main contributions of the new institutional economics to the analysis of the process of competitive transformation of network industries. It shows that neo-institutional analysis is complementary to the microeconomics of rational pricing, since it accounts...
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