The regulation of the UK retail electricity market
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This thesis is a study of the regulatory regime which governs the retail
electricity market in the United Kingdom. It focuses in particular on the
relationship between retailers, consumers and the regulatory authorities and
the role of simple and transparent information in determining the price
structure in the retail electricity market. This dissertation examines the
development and the problems within the UK retail electricity market during
the critical period between 2003 and 2010 and analyses the role of the
regulatory regime in this. The study critically reviews the argument for using a
system of market prices as the best way to provide choices and lower prices
for consumers along with the argument for strengthening the role of the
regulatory body in response to the interests of consumers. The study shows
that this free market model, as favoured by retailers, has failed to provide
consumers with either valuable choices or lower prices. It shows that
because: 1) consumers are not able to use price information to inform their
choices; there is relatively little ‘shopping around’ for the best price; and 2) the
regulatory body is captured by suppliers. The study suggests improvement in
the regulatory regime relating to information to facilitate greater efficiency in
the retail electricity market and to increase the level of consumer protection.
Authors
Nuntapunt, NunnaraCollections
- Theses [3822]