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EnglishItaly will phase out electricity retail price regulation by July 1st, 2020. Until then, residential customers and small businesses who do not choose their supplier are served under a regulated tariff named “maggior tutela” (greater protection), supplied by the local distributor at a price set by the regulator. We review the literature on electricity retail competition – with particular regard to its expected effects on prices, innovation, and customer engagement – and the conditions under which competition is expected to deliver benefits. We perform a Structure-Conduct-Performance analysis of Italy’s retail electricity market for residential customers, finding two issues potentially problematic: excessive market concentration and low customer engagement. We propose a phase-out mechanism that relies on graduality, asymmetric regulation, and a mandatory, opt-out collective switching exercise. The mechanism aims to rapidly reduce market concentration by leveraging behavioral incentives to customers to switch to the cheapest supplier.
| Data di pubblicazione: | 2020 |
| Titolo: | Managing the liberalization of Italy's retail electricity market: A policy proposal☆ |
| Autori: | |
| Citazione: | Stagnaro, C., Amenta, C., Di Croce, G., & Lavecchia, L. (2020). Managing the liberalization of Italy's retail electricity market: A policy proposal☆. ENERGY POLICY, 137, 1-6. |
| Rivista: | |
| Digital Object Identifier (DOI): | 10.1016/j.enpol.2019.111150 |
| Abstract: | Italy will phase out electricity retail price regulation by July 1st, 2020. Until then, residential customers and small businesses who do not choose their supplier are served under a regulated tariff named “maggior tutela” (greater protection), supplied by the local distributor at a price set by the regulator. We review the literature on electricity retail competition – with particular regard to its expected effects on prices, innovation, and customer engagement – and the conditions under which competition is expected to deliver benefits. We perform a Structure-Conduct-Performance analysis of Italy’s retail electricity market for residential customers, finding two issues potentially problematic: excessive market concentration and low customer engagement. We propose a phase-out mechanism that relies on graduality, asymmetric regulation, and a mandatory, opt-out collective switching exercise. The mechanism aims to rapidly reduce market concentration by leveraging behavioral incentives to customers to switch to the cheapest supplier. |
| Settore Scientifico Disciplinare: | Settore SECS-P/08 - Economia E Gestione Delle Imprese |
| Appare nelle tipologie: | 1.01 Articolo in rivista |
File in questo prodotto:
| File | Descrizione | Tipologia | Licenza | |
|---|---|---|---|---|
| Managing the liberalization of Italy - Paper with affiliations.pdf | Pre-print | Administrator Richiedi una copia | ||
| Amenta_managing the liberalization of Italy.pdf | Versione Editoriale | Administrator Richiedi una copia |
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