Download PDF by Peter C. Carstensen, Susan Beth Farmer: Competition Policy and Merger Analysis in Deregulated and

By Peter C. Carstensen, Susan Beth Farmer

ISBN-10: 1845423135

ISBN-13: 9781845423131

This accomplished ebook comprises case experiences at the evolution of festival coverage, with an emphasis on merger coverage, for seven significant US industries that experience skilled immense deregulation long ago 40 years - electrical energy, traditional fuel, telecommunications, railroads, airways, hospitals and banking. additionally integrated is a comparability of the EU's event in trying to lead to festival within the strength, finance, and airline industries.

The participants to the amount, each one a well-known specialist at the tested, discover the optimistic and adverse implications of the substitution of market-oriented tactics for historical styles of command and regulate rules. The chapters demonstrate transparent similarities within the monetary, criminal and public coverage concerns that experience arisen following deregulation of those financial sectors. jointly they supply a great foundation to parent the consistency of the issues and the relative luck of differing responses to those concerns over a number of industries facing related transformation. whereas taking a essentially confident view of the stream clear of direct rules, the individuals determine a couple of carrying on with issues of reaching achievable festival in those industries.

The thorough analyses offered right here could be of significant price to legislations, economics, and political technology researchers drawn to deregulation, monetary experts advising executive corporations or deepest events, legal professionals who specialise in deregulated industries, coverage planners on the businesses overseeing those industries, and scholars in complicated seminars on fiscal legislation.

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Extra info for Competition Policy and Merger Analysis in Deregulated and Newly Competitive Industries

Example text

Similarly, I doubt that FERC’s failure to consider the potential effects of a proposed merger on a retail market that a state might create has done any harm. The proposed merger that most clearly raised this issue – the merger between Baltimore Gas & Electric and Potomac Electric Power Company – was never consummated for reasons independent of FERC’s approval (The District of Columbia Public Service Commission disapproved the merger). More broadly, it has become clear that effectively competitive retail markets are extraordinarily difficult to create for reasons independent of the number of electric utilities that provide service in the area in which a state authorizes creation of such a market.

However, the third recent development illustrates the strength of the remaining obstacles to such mergers. On 14 September 2006, Exelon Corp. and Public Service Enterprise Group announced that they had abandoned the largest proposed merger in the history of the US electric power industry. Even though Pennsylvania, Illinois, the Department of Justice and FERC had approved the proposed merger, Exelon and Public Service concluded that the conditions imposed on the proposed merger by regulators in New Jersey would have rendered the proposed merger uneconomic.

6 Products and Services A second result of changed regulation was the development of new products and services. Prior to access, sales of bundled gas constituted at least half of pipeline services. By the early 1990s, these sales had all but disappeared and were replaced with sales of released capacity on the secondary market created by Order 636, so-called no-notice service and a greater role of firm transportation relative to interruptible service (Mariner-Volpe 2000, 21). Access to information on pipeline capacity also improved through electronic postings, access and trading.

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Competition Policy and Merger Analysis in Deregulated and Newly Competitive Industries by Peter C. Carstensen, Susan Beth Farmer


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