1887

OECD Journal: Competition Law and Policy

  • Discontinued

This journal draws on the best of the recent work done for and by the OECD Committee on Competition Law and Policy. Its articles provide insight into the thinking a competition law enforcers, and focus on the practical application of competition law and policy. Here’s what Robert Pitofsky, Chairman of the US Federal Trade Commission said about this new journal when it was launched: “Global competition is the wave of the future, and comparative analysis of the laws and practices of various members of the worldwide community of nations is a necessary corollary. This new OECD Journal of Competition Law and Policy, compiled from OECD Round Table discussions, summaries of recent developments, and articles on topics of special interest, will introduce regulators, practitioners, and scholars to different regulatory approaches around the world and will allow us to consider in a more informed way the strengths and weaknesses of our own systems.”

Now published as part of the OECD Journal package.

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Competition Issues in the Electricity Sector

Electricity markets are prone to the exercise of market power due to a combination of factors including: inelastic demand, lack of extensive practical storage of electricity, transmission congestion, transmission loop flows and capacity constraints coupled with diversity in the marginal costs of different types of generators. The level of market power can vary rapidly in time according to changes in transmission congestion and fluctuating load levels. Given the propensity of the electricity market to market power, horizontal structural separation (or divestiture) of the generation market is a key policy tool. Some structural separation has been carried out, but on a relatively limited scale. But congestion segments electricity markets and contributes to the exercise of generator market power. This effect can provide the incentive for building new generation capacity. So a balance must be found between providing an...

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