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Market design

By David Newbery

Abstract

Europe is liberalising electricity in accordance with the European Commission’s Electricity Directives. Different countries have responded differently, notably in the extent of restructuring, treatment of mergers, market power, and vertical unbundling. While Britain and Norway have achieved effective competition, others like Germany, Spain and France are still struggling to deal with dominant and sometimes vertically integrated companies. The Netherlands offers an interesting intermediate case, where good economic analysis has sometimes been thwarted by legalistic interpretations. Investment under the new Emissions Trading system could further transform the electricity industry but may be hampered by slow progress in liberalising European gas markets

Topics: Classification-JEL: G34, K23, L51, L94, Competition, liberalisation, restructuring, electricity, market power
Publisher: Faculty of Economics
Year: 2006
OAI identifier: oai:www.repository.cam.ac.uk:1810/131665
Provided by: Apollo

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Citations

  1. (2005). Electricity liberalisation in Britain: the quest for a satisfactory wholesale market design,” The Energy Journal Special Issue on European Electricity Liberalisation doi
  2. (2005). Ownership Change, Incentives and Plant Efficiency: The Divestiture of U.S.
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  4. (2005). Regulating the Electricity Supply Industry in Germany,” The Energy Journal Special Issue on European Electricity Liberalisation,

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