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Energy in a Competitive Market

Essays in Honour of Colin Robinson Edited by Lester C. Hunt, Professor and Head of Economics and Finance, University of Portsmouth, UK
This fine collection of original essays is in recognition of Colin Robinson, who has been at the forefront of thinking in energy economics for over 30 years. Energy in a Competitive Market brings together both prominent academics and practitioners to honour his outstanding and unique contribution.

The authors cover a wide and fascinating selection of topics incorporating the whole spectrum of energy economics. In doing so, they examine the belief that markets are the key to the effective allocation of resources, a notion which arguably applies as much to energy as it does to any other commodity.
Extent: 256 pp
Hardback Price: $135.00 Web: $121.50
Publication Date: 2003
ISBN: 978 1 84064 798 3
Availability: In Stock
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  • eISBN: 978 1 78195 036 4

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  • Economics and Finance
  • Competition Policy
  • Energy Economics
  • Public Sector Economics
This fine collection of original essays is in recognition of Colin Robinson, who has been at the forefront of thinking in energy economics for over 30 years. Energy in a Competitive Market brings together both prominent academics and practitioners to honour his outstanding and unique contribution.

The authors cover a wide and fascinating selection of topics incorporating the whole spectrum of energy economics. In doing so, they examine the belief that markets are the key to the effective allocation of resources, a notion which arguably applies as much to energy as it does to any other commodity. In particular, they focus on several pertinent issues including:

• competition and regulation in gas and electricity
• comparative efficiency analysis (yardstick competition) in electricity regulation
• UK coal in competitive markets
• vertical integration in the oil industry
• cluster developments in the UK continental shelf
• modelling underlying energy demand trends
• emissions targets, environmental Kuznets curves and incentive mechanisms.

Colin Robinson’s work on the economics of energy has influenced the thinking of academics, researchers and policymakers alike. This book, in his honour, will undoubtedly do the same.
‘. . . These essays are solidly researched and documented, carefully expounded theoretically and empirically, and offer the reader new insights into energy market issues and problems of both the past and the future. . . This collection of essays is an excellent festschrift in honor of the substantial energy contributions of Colin Robinson over many years. Because of the essays’ primary focus on UK and European matters, they may have more appeal to readers in those locations. Yet the competitive and regulatory themes advanced to improve performance in utilities may resonate well with North American readers interested in efficiencies and effectiveness, particularly after the August 2003 blackout, which affected a wide swath of the US and Canada. The articles on field cluster development, energy demand, and emissions trends and abatement are clearly of interest to readers on energy topics, regardless of their geographic location, for these subjects will be with us for some time to come. The collection constitutes a valuable contribution and advancement to the state of our knowledge in all the subjects addressed.’
– Maureen S. Crandall, The Energy Journal

‘This is a stimulating, informative and remarkably varied collection of papers. It illustrates the great diversity of topics and analytic techniques that characterise the modern competitive energy sector. The papers are a testament to the distinguished and consistent contributions that Colin Robinson has made to the understanding of this market, and to the development of policy therein.’
– Stephen Littlechild, University of Cambridge, UK
Contributors: M. Filippini, R. Fouquet, D. Hawdon, L.C. Hunt, G. Judge, A.G. Kemp, E. Marshall, Y. Ninomiya, M.J. Parker, P.J.G Pearson, B. Rosewell, L. Smith, L. Stephen, P. Stevens, C. Waddams Price, T. Weyman-Jones, J. Wild
Contents: Introduction 1. Electricity and Gas Regulation in Great Britain: The End of an Era 2. Yardstick Competition and Comparative Performance Measures in Practice 3. Yardstick Competition and Efficiency Benchmarking in Electricity Distribution 4. The Swiss Electricity Industry and the Regulation of Distribution Prices 5. Efficiency and Performance in the Gas Industry 6. UK Coal in Competitive Energy Markets 7. Economists and the Oil Industry: Facts versus Analysis, the Case of Vertical Integration 8. The Economics of Field Cluster Developments in the UK Continental Shelf 9. Modelling Underlying Energy Demand Trends 10. Long-run Carbon Dioxide Emissions and Environmental Kuznets Curves: Different Pathways to Development? 11. UK Emissions Targets: Modelling Incentive Mechanisms Index