The Restructuring and Privatisation of Britain's CEGB—Was It Worth It?
对英格兰和威尔士电力行业1990年私有化改组进行社会成本效益分析，发现每年永久性成本降低5%，但消费者和政府受损，生产者获益更多。
We report a social cost‐benefit analysis of the privatisation and restructuring of the Central Electricity Generating Board which generated and transmitted all public electricity in England and Wales until 1990. The main benefits came from generator efficiency gains, switching from nuclear power, and lower emissions. The main costs came from higher prices for imported French electricity, the cost of restructuring and premature investment in the gas‐fired generating plant. Our central estimate is a permanent cost reduction of 5% per year, equivalent to an extra 40% return on assets. Consumers and government lose, and producers gain more than the cost reduction.