The impact of privatisation on regulated energy markets: a Great Britain's case study in industrial ecology Online publication date: Sat, 13-Jun-2015
by Dumitru-Alexandru Bodislav
Progress in Industrial Ecology, An International Journal (PIE), Vol. 9, No. 1, 2015
Abstract: From the birth of the Marshall plan, it was observed that maximising the profit develops a barrier in growing social welfare, because it includes decreasing costs by redistributing capital that could lead to lowering the given wage (therefore decreasing welfare through income narrowing) and increasing unemployment by the replacement of human capital with higher productivity technology. Public intervention makes it possible for an efficient resource allocation that is not possible on the market, and by accepting losses. This research paper underlines the idea of market efficiency and segmentation between public and private entities with the help of a fine-tuned regulatory system that is perfectly moulded on the energy sector. The authors try to offer a business perspective by using a case study on the privatisation process developed in the 1980s in Great Britain and this way we could forecast what is next for Romania and its continuous privatisation process of state-owned energy companies.
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