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Political Governance, Technology, and Endogenous Money: The Making of a State-of-the-Art Technology in the England and Wales Electricity Supply Industry

Political Governance, Technology, and Endogenous Money: The Making of a State-of-the-Art... 2 Michele Javary tricity supply industry (ESI) after its privatization in the early 1990s. It argues that the making of gas technology the "state of the art" in electricity generation results from the social and political forces driving, and embedded in, the process of institutional change that supports the conditions for profit growth in the privatized utilities. The rapid introduction of the combined cycle gas turbine (CCGT) as the preferred technology in electricity generation came as a surprise to all concerned in the industry. Its establishment as the state of the art in electricity generation cannot be attributed simply to its exceptional technological performance. At the dawn of the privatization of the England and Wales ESI, this technology's track record was not impressive. Existing CCGT plants had never been tested to sustain large capacity production and, in the period that followed, they encountered a number of serious "teething" problems (Watson 1996; Watson and Mitchell 1996). Nevertheless, the rapid introduction of CCGT induced rapid progress in innovation and incremental improvements that have resulted in the rapid displacement of coal in electricity generation and the introduction of successive generations of CCGT technologies since privatization. In order to analyze the factors contributing http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Issues Taylor & Francis

Political Governance, Technology, and Endogenous Money: The Making of a State-of-the-Art Technology in the England and Wales Electricity Supply Industry

Journal of Economic Issues , Volume 35 (1): 26 – Mar 1, 2001
26 pages

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References (57)

Publisher
Taylor & Francis
Copyright
© 2001 by Journal of Economic Issues–Association for Evolutionary Economics.
ISSN
1946-326X
eISSN
0021-3624
DOI
10.1080/00213624.2001.11506337
Publisher site
See Article on Publisher Site

Abstract

2 Michele Javary tricity supply industry (ESI) after its privatization in the early 1990s. It argues that the making of gas technology the "state of the art" in electricity generation results from the social and political forces driving, and embedded in, the process of institutional change that supports the conditions for profit growth in the privatized utilities. The rapid introduction of the combined cycle gas turbine (CCGT) as the preferred technology in electricity generation came as a surprise to all concerned in the industry. Its establishment as the state of the art in electricity generation cannot be attributed simply to its exceptional technological performance. At the dawn of the privatization of the England and Wales ESI, this technology's track record was not impressive. Existing CCGT plants had never been tested to sustain large capacity production and, in the period that followed, they encountered a number of serious "teething" problems (Watson 1996; Watson and Mitchell 1996). Nevertheless, the rapid introduction of CCGT induced rapid progress in innovation and incremental improvements that have resulted in the rapid displacement of coal in electricity generation and the introduction of successive generations of CCGT technologies since privatization. In order to analyze the factors contributing

Journal

Journal of Economic IssuesTaylor & Francis

Published: Mar 1, 2001

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