Energy, the State, and the Market: British Energy Policy since 1979 / Edition 1

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A broad and lively survey of British energy policy since 1979. The book blends economic analysis with political and historical narrative. The author traces the way in which political pressures from the proponents of both nationalization and privatization, as well as environmentalists, have affected the development of an industry which forms a significant part of the national economy. There is a particular focus on the role of government and the influence of technological advances.

The revised edition includes a range of new material, including a new chapter on the White Paper on a low-carbon economy and updated discussions on nuclear power (to incorporate the 2003 Nuclear White Paper), price reviews, and emissions trading.

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Product Details

  • ISBN-13: 9780199270743
  • Publisher: Oxford University Press, USA
  • Publication date: 5/6/2004
  • Edition description: REV
  • Edition number: 1
  • Pages: 496
  • Product dimensions: 9.10 (w) x 6.10 (h) x 1.20 (d)

Meet the Author

Dieter Helm is Official Fellow in Economics at New College, Oxford. He has been a member of the Department of Trade and Industry's Energy Advisory Panel since 1993 and is also Chairman of the Academic Panel of the Department for Environment, Food and Rural Affairs. He is a director of Oxford Economic Research Associates Ltd (OXERA) and has advised governments, regulators, and major companies in the UK and internationally.

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Table of Contents

List of Figures
List of Tables
Glossary of Terms
1 Introduction 1
2 The Inheritance - State Ownership, Monopoly, and Planning 14
3 First Steps Towards the Market Philosophy 44
4 Thatcher and Scargill - Getting off the Labour Standard 67
5 The Nuclear Option in the 1980s - Security of Supply and National Energy Independence 89
6 Missed Opportunity - British Gas Privatization 108
7 Electricity Privatization 125
8 The Transition to Competition in the Electricity Industry 152
9 Preparing for the End of British Coal - Privatization and Decline 176
10 Nuclear Privatization and the End of the Nuclear Dream 186
11 Regulatory Failure and Financial Engineering - The RECs' First Review 204
12 Takeover Mania and Capital Market Competition 221
13 The Break-up of British Gas 244
14 Domestic Competition in Gas and Electricity 258
15 Regulatory Reform and New Labour 273
16 Energy Sources, Diversity, and Long-term Security of Supply 294
17 NETA and the Consolidation of Generation 306
18 Price Reviews Again - Asset-sweating or Investment? 327
19 The Environment Moves Centre Stage 345
20 The European Dimension 372
21 The Energy Policy Review 386
22 A Low-carbon Economy - The White Paper 400
23 Reinventing Energy Policy 412
References 426
Index 449
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