The deregulation of Japan's electricity industry |
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| Institution: | 1. China Center for Energy Economics Research, School of Economics, Xiamen University, Xiamen, Fujian, 361005, China;2. MOE Key Laboratory of Econometrics, School of Economics, Xiamen University, Xiamen, 361005, China;3. Balochistan Think Tank Network, Quetta, Balochistan, Pakistan;4. Department of Economics, School of Economics, Xiamen University, Xiamen, Fujian, 361005, China;5. School of Public Administration, Faculty of Economics and Management, East China Normal University, Shanghai, 200062, China;1. Graduate School of Environmental Studies, Tohoku University, Miyagi Prefecture, Japan;2. Department of Geography, Salem State University, Massachusetts, USA;3. Center for Northeast Asian Studies, Tohoku University, Miyagi Prefecture, Japan;4. Graduate School of Arts and Letters, Tohoku University, Miyagi Prefecture, Japan;1. Faculdade de Economia, Universidade do Porto, Portugal;2. Departamento de Gestão e Economia, Universidade da Beira Interior (UBI), and CEFAGE-UBI, Covilhã, Portugal;3. NIPE, Escola de Economia e de Gestão, Universidade do Minho, Porto, Portugal |
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| Abstract: | Japan's electricity industry is now in the process of regulatory reform. This industry consists of three sectors: generation, transmission, and distribution. The reform phases out the entry barrier in the first sector, while keeping the latter two as they were with a rate-of-return (ROR) regulation. To simulate this regulatory reform, we employ a computable general equilibrium model, which distinguishes these three sectors and is equipped with the ROR regulation and substitution among various energy sources. Our numerical simulations show a potential for significant welfare improvements and substitution among energy inputs even if the reform scope is limited. |
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