Competition in the water industry

The paper discusses competition in the water industry in theUK, with the focus on product-market competition. Water hastraditionally been seen as an industry characterized by regionalor local natural monopoly, with franchising and contractingout, yardstick competition, and capital market competition beingfeasible, but not direct competition. Policy proposals for (I)inset appointments, (ii) common carriage, and (iii) cross-bordercompetition are assessed. The effect of potential competitionfrom inset appointments has been the introduction of quantitydiscounts for large users. In practice, the threat of competitionis likely to make tariffs more cost-reflective, and there willprobably be little effect on average tariff levels.     

Competition in the rail industry

The privatization of the railways in Britain is almost complete.The article describes the method of privatization, where a verticallyintegrated state-owned monopoly has been broken up into a monopolytrack company, three monopolistic owners of passenger rolling-stock,25 franchised passenger train operating companies, a freightoperating company, and large numbers of suppliers of services.The author explains the potential for competition within thiscomplex structure, in an industry which has been steadily losingits share of the transport market for some 70 years. Attentionis drawn to the absence of any clear criteria for continuedpublic subsidy and to the tensions which exist between the Regulatorand other players in the industry.     

Competition and regulation in the UK gas industry

The decade since privatization has seen gas change from an integratedmonopoly with no competition and without the structure necessaryto encourage it, to an industry moving rapidly towards fullcompetition. British Gas was privatized as an integrated monopoly;it had no regulation in the bulk market, and light regulationin the tariff market. Within 10 years it has lost more thanhalf its bulk market, has voluntarily 'demerged' into a transportationand supply arm, and is leading the way in liberalization ofthe residential market. Some of these changes have been assistedby the particular circumstances of the gas market, especiallythe contracts which the incumbent has inherited. The Regulatoris relying increasingly on prevention of undue discriminationfor control of the dominant supplier, and this principle hasbeen discussed and applied in a number of cases within the industry.Liberalization also raises important distributional issues,especially in the residential market.     

Regulatory change and competition in the South African electricity supply industry

The electricity industry is a concentrated, regulated and largely publicly owned sector which is dominated by Eskom, a vertically integrated public utility. Recently, new structures and regulation have been proposed to separate the different levels of operation, from generation through to distribution, and to open up the potential for competition. This study undertakes a preliminary analysis of competition and regulation issues in electricity for South Africa. First, the structure of the electricity supply industry (ESI) is analysed, with a brief review of the differing characteristics of operations at each level and the implications for ownership and control within the sector. The performance of Eskom is then assessed against both financial and non-financial criteria. Next, the electrification progress and the regulatory framework are evaluated before differing options for the restructuring of the ESI, both in the long and the short term, are appraised.     

Restructuring the electricity distribution industry: An analysis of the proposed ownership and governance structures of regional electricity distributors

The electricity distribution industry is currently fragmented and in a financial crisis. The government proposes restructuring the industry into a number of regional electricity distributors (REDs) that will take over the electricity distribution function from municipalities and Eskom, who will be given shares in the REDs in exchange for their distribution assets. It is also proposed that REDs be controlled by boards consisting of customers, trade unions, national and provincial governments, municipalities and Eskom. This article critically examines these and other restructuring options relating to the ownership and governance of REDs. It is argued that these proposals would perpetuate the inequalities that exist between historically advantaged and disadvantaged local governments; that they would extend Eskom's monopoly of the electricity industry, and that they would obstruct good governance and private investment in the sector. To conclude, the article makes a number of recommendations that would mitigate these negative consequences.     

The production and consumption of bar iron in early modern England and Wales

Errata . The Economic History Review 59: 1, 64
The production and consumption of bar iron in early modern England and Wales. An estimate made of the bar iron production in England shows two periods when production grew rapidly, 1540-1620 and 1785-1810. Both of these were related to the adoption of new technology-the finery forge in the first case, and potting and stamping and then puddling in the second. Imports of iron from Spain declined sharply after 1540, but those from Sweden became significant from the mid-seventeenth century, and those from Russia after 1730. Consumption grew rapidly in the late sixteenth century, and again during the eighteenth. Hence, the industrial revolution was the culmination of a long period of growth.     

An introduction: the challenges of the Chinese electricity industry and its reform

This introduction is to highlight comprehensively the Chinese electricity industry for issues related to the institutional reform, capacity growth, pricing regime, technology development, supply structure and new investment in upgrading electric power grids. Through reviews of statistics and documentaries, we provide a generally updated understanding of the current development and reform of China’s electric power industry, which is one strategic focus of the Chinese Government for its further reform in the energy sector.     

Participation in further education in England and Wales: an analysis of post-war trends

The paper examines the time-series evidence relating to participationrates in further education in England and Wales and, using cointegrationanalysis, identifies a long-run statistical relationship inthe data consistent with an augmented human-capital model. Therecent rapid growth of participation is largely attributableto the improvements in GCSE attainment, coupled with the expansionof higher education, of the last decade. Fluctuations in labourdemand play a significant role in determining the movementsof participation rates over time, and the substantial rise inyouth unemployment of the early 1990s contributed to the growthin participation at this time.