Privatising Network Industries

David M Newbery ()

No CESifo Working Paper No. 1132, CESifo Working Paper Series from CESifo Group Munich

Abstract: Successful network utility privatisation requires incentive-based regulation that allows investment to be adequately rewarded form unsubsidised revenues while maintaining quality, and restructuring that permits effective competition for the network services. The potential for success and the size of the potential gains from privatising and restructuring vary by utility, with a ranking telecoms, gas, electricity, water and last, rail. There are doubts whether privatising rail deliver sustainable improvements. The paper gives evidence primarily from the UK, and surveys some of the international evidence. Real consumer prices for telecoms, gas and electricity fell in the UK, overcoming most opposition to privatisation.

Keywords: privatization; regulation; competition; telecoms; electricity; gas; water; rail (search for similar items in EconPapers)
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Date: 2004
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