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

Abstract

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.

Keywords

Vertical Integration Scale Economy Electric Utility Electric Power Industry Natural Monopoly 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Kluwer Academic Publishers 1996

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