Redundant regulation? : competition and consumer choice in the residential energy markets
Giulietti, Monica, Waddams, Catherine and Waterson, Michael, 1950- (2000) Redundant regulation? : competition and consumer choice in the residential energy markets. Coventry: Warwick Business School, Centre for Management under Regulation. (Research paper series (Warwick Business School Centre for Management under Regulation)).
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Official URL: http://www2.warwick.ac.uk/fac/soc/wbs/research/cmu...
The UK energy regulator has recently removed price controls from about 40% of residential energy users, and plans total deregulation of the gas and electricity markets by 2002, relying instead on general competition policy to protect consumers. We examine responses to a specially commissioned survey of over one thousand consumers, to identify determinants of consumer choice between suppliers. We conclude that there are substantial switching costs which seem higher for more vulnerable groups. By assessing the savings which consumers require to switch supplier, we deduce that the incumbent retains considerable market power, suggesting that some continued regulation may be necessary.
|Subjects:||H Social Sciences > HC Economic History and Conditions|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Gas industry -- Deregulation -- Great Britain, Competition -- Great Britain, Public utilities -- Deregulation -- Great Britain, Consumer behavior|
|Series Name:||Research paper series (Warwick Business School Centre for Management under Regulation)|
|Publisher:||Warwick Business School, Centre for Management under Regulation|
|Place of Publication:||Coventry|
|Number of Pages:||26|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
|Funder:||Leverhulme Trust (LT)|
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