Ownership Unbundling of Electricity Distribution Networks

Unbundling Ownership and Control∗

Treating control as an asset that can be bought and sold, we introduce a model of the simultaneous and separable trading of ownership and control in a private information setting. The model provides a novel explanation for the prevalence and persistence of the separation of ownership from control in modern corporations: efficiency in the market for corporate control is more easily achieved when...

The Impact of Ownership Unbundling on Cost Efficiency: Empirical Evidence from the New Zealand Electricity Distribution Sector

Ownership Unbundling of Gas Transmis - sion Networks – Theoretical Background and Empirical

In this paper we analyse empirically the effects of ownership unbundling of gas transmission networks on the level of end-user prices. Based on a panel out of 29 OECD countries over 18 years we apply advanced approaches like the fixed effects estimator with robust standard errors and the corrected Least Squares Dummy Variable estimator (LSDVC) by Bruno (2005). Controlling for the oil price, the...

Reevaluation of Vertical Integration and Unbundling in Restructured Electricity Markets

Regulatory Objectives and the Intensity of Unbundling in Electricity Markets∗

Despite the positive effect electricity grids separated from generation and supply by ownership are expected to have on the level of competition in the non-network activities, several EU member states still adhere to a solely legally unbundled transmission grid. This choice might be induced by regulators focusing on objectives other than the promotion of consumer interests: theoretically analyz...