Economies of Scale, Vertical Integration, and the Role of Competition


The view that the electric power industry is a natural monopoly is based on its underlying production technology. On their face, generation, transmission, and distribution all appear to be subject to significant economies of scale. The integration of these stages into a single utility reflects a belief in efficiencies from coordination among stages.


Vertical Integration Scale Economy Electric Utility Electric Power Industry Natural Monopoly 
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© Kluwer Academic Publishers 1996

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