DOES ELECTRICITY RESTRUCTURING WORK? EVIDENCE FROM THE U.S. NUCLEAR ENERGY INDUSTRY*

Fan Zhang

Journal of Industrial Economics, 2007, vol. 55, issue 3, 397-418

Abstract: This paper examines whether electricity restructuring improves the efficiency of U.S. nuclear power generation. Using a panel dataset consisting of the full sample of 73 investor‐owned nuclear plants in the United States from 1992 to 1998, I estimate the plant‐level cross‐sectional and longitudinal efficiency changes associated with restructuring. Special attention is given to the potential policy endogeneity bias and different modeling strategies are presented to cope with the issue. Overall, I find a striking positive relationship between restructuring and cost reduction, and increased plant utilization.

Date: 2007
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