Strategic Responses to Regulatory Policies: What Lessons Can Be Learned from the U.K. Contract Gas Market? |
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Authors: | Dixon Huw Easaw Joshy |
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Affiliation: | (1) Department of Economics, University of York, York, YO1 5DD;(2) Centre for Economic Policy Research (CEPR), London, U.K;(3) Economics Department, Middlesex University Business School, The Burroughs, London, NW4 4BT, U.K |
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Abstract: | The gas industry was first privatisedin 1986, and the regulator, Ofgas, identified thecontract gas market as a possibility for introducinginitial competition into the industry. Nevertheless,competing shippers were slow in entering the market.Subsequently, Ofgas introduced a series ofpro-competitive policies. It, however, invoked aseries of strategic behaviour by the incumbentshipper, British Gas. The effectiveness of thesemeasures are analysed here with respect to theevolving competitive process. The issues it raised,especially when formulating future regulatory policiesand theories, are also considered. |
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Keywords: | Gas supply network access regulation and competition policy strategic behaviour |
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