MARKETS, IMPER FECTIONS AND THE DANGERS OF OVER-REGULATING ENERGY MARKETS |
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| Authors: | Colin Robinson |
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| Affiliation: | Emeritus Professor of Economics at the University of Surrey and a former Editorial Director of the Institute of Economic Affairs. This paper is a slightly revised version of an opening address at a Smith Institute seminar at 11 Downing Street on 3 December 2003. |
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| Abstract: | Government regulation in general has over-expanded. However, in British energy markets, a new form of regulation, concentrating on promoting competition in gas and electricity, has emerged to the benefit of consumers. If the government pursues its policy of targeting favoured energy activities, these gains will disappear, the costs of achieving environmental targets will be unnecessarily heavy and energy markets will be re-politicised. |
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