Эволюция естественной монополии как рыночной структуры

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Annotation. The article deals with the evolution of theoretical approaches to the investigation of models of
public utility enterprises functioning by the example of electricity. In particular, it is shown that competition which
existed at the initial stage of the electricity branch development led to the formation of vertically integrated
companies due to the technological specifics. In the early 20th century these companies became the subject of
state regulation, which led to the emergence of the model of «natural monopoly». The current stage of
technological development of the electricity branch and the introduction of competition principles in the
generation and distribution of electricity determined the transition from a «natural monopoly» to the model of
«competitive market». But in order to state the criteria for optimal functioning and regulation of the electricity
branch one needs some other approach due to the technological specifics of the given branch.
Keywords: electricity; natural monopoly; vertical integration; contestable markets; public utilities;
government regulation
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