Electricity market reform: so what’s new?

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David Toke University of Aberdeen, UK

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Keith Baker Oregon State University, USA

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The British government has restructured Britain’s electricity markets through a programme of electricity market reform (EMR). Energy security and climate change mitigation are public goods that are prioritised. Cultural theory (CT) is used to explain changes in the regulatory regime under EMR. EMR involves an incomplete shift from ‘individualist’ to ‘hierarchical’ frames of regulation. Conflicts between these frames hamper the institutional design of EMR. This has obstructed deployment of nuclear power. Policymakers must fit the cultural framing to suit their preferred public good and not expect a defined public good to emerge from a preferred mix of cultural bias.

David Toke University of Aberdeen, UK

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Keith Baker Oregon State University, USA

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