The Theory of Public Utility Pricing

The Theory of Public Utility Pricing PDF

Author: Stephen J. Brown

Publisher: Cambridge University Press

Published: 1986-02-28

Total Pages: 272

ISBN-13: 9780521314008

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Debate about deregulation has focused considerable attention on the pricing policies of public utilities. Much work has been done by economists on this subject, and in this book the results of that research are presented and made accessible to students of economics. The main subject is the policy to be followed by a regulated monopoly, but the analysis is broadened to take account of a fringe of competitive suppliers, making it relevant to electric utilities and local telephone companies in the US, to PTT's in Europe, to the possible privatisatibn of telecommunications in Australia, and to the telecommunications structure in the UK where the dominant supplier has recently been privatised. The book gives a unified and simplified exposition of the modern theory of efficient pricing which is not available elsewhere. The theoretical discussion is supplemented by numerical simulation comparing Fully Distributed Cost Pricing, Ramsey Pricing, and Optimal Non-uniform Pricing.

The Economic and Social Regulation of Public Utilities

The Economic and Social Regulation of Public Utilities PDF

Author: Judith Clifton

Publisher: Routledge

Published: 2014-06-11

Total Pages: 176

ISBN-13: 1317981618

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Utilities have long been essential for societies, supplying basic services for nations, organizations and households alike. The proper functioning and regulation of utilities is therefore critical for the economy, society and security. History provides an invaluable insight into important issues of the economic and social regulation of utilities and offers guidance for future debates. However, the history of utility regulation – which speaks of changing, diverse and complex experiences around the world – was sidelined or marginalised when economists and policy-makers enthusiastically embraced the question of how to reform the utilities from the 1970s. This book examines in depth the complex regulation and deregulation of energy, communications, transportation and water utilities across Western Europe, the United States, Australia, Brazil, China and India. In each case, attention is drawn to the changing roles of the state, the market and firms in the regulation, organization and delivery of utility services. This book was originally published as a special issue of Business History.

The Economics of Public Utility Regulation

The Economics of Public Utility Regulation PDF

Author: Michael A. Crew

Publisher: MIT Press (MA)

Published: 1986

Total Pages: 316

ISBN-13: 9780262031271

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The Economics of Public Utility Regulationsurveys the large literature on the regulation of public utilities and provides industry studies with specific applications of the more general theories. The industries covered Include telecommunications, electricity, gas, and water. The authors explain the economic concepts involved And present a rich framework for understanding the institutional and administrative context of the regulatory process. Michael Crew and Paul Kleindorfer consolidated their reputations as experts in the field of regulated public utilities in 1979, when their book Public Utility Economicswas published. Since then, theoretical concepts for dealing with utilities have been significantly extended, and utilities themselves have been dramatically transformed. This new book presents an indispensible update. The opening section introduces the basic welfare foundations, including a neoclassical treatment of efficiency and equity and a development of the principles of the new institutional economics. These concepts are then employed to examine the problems of natural monopoly and regulation. The material on welfare-optimal pricing puts special emphasis on the peak-load pricing problem, which is shown to be pervasive in public utilities of all varieties. Both deterministic models and stochastic models of peak-load pricing are examined. Alternative governance structures for natural monopoly are evaluated in some detail, with the U.S. system of privately owned regulated monopolies and the predominant governance structure in the U.S. - rate-of-return regulation - receiving the greatest attention. The authors next take a close-up look at four specific public utilities focusing on pricing and efficiency. Michael A. Crew is Professor of Economics at the Graduate School of Management, Rutgers University. Paul R. Kleindorfer is Professor of Decision Sciences and Economics at the Wharton School, University of Pennsylvania, and Director of the Center for the Study of Organizational Innovation. The Economics of Public Utility Regulationis the thirteenth in the MIT Press Series on the Regulation of Economic Activity, edited by Richard Schmalensee.

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