Electricity Market Reform

An International Perspective

Edited by

  • Fereidoon Sioshansi, President, Menlo Energy Economics, San Francisco, CA, USA
  • Wolfgang Pfaffenberger

Since the late 1980s, policy makers and regulators in a number of countries have liberalized, restructured or “deregulated” their electric power sector, typically by introducing competition at the generation and retail level. These experiments have resulted in vastly different outcomes - some highly encouraging, others utterly disastrous. However, many countries continue along the same path for a variety of reasons. This book examines the most important competitive electricity markets around the world and provides definitive answers as to why some markets have performed admirably, while others have utterly failed, often with dire financial and cost consequences. The lessons contained within are direct relevance to regulators, policy makers, the investment community, industry, academics and graduate students of electricity markets worldwide.
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Energy scientists, policy makers, economists, electrical engineers


Book information

  • Published: April 2006
  • Imprint: ELSEVIER
  • ISBN: 978-0-08-045030-8

Table of Contents

Foreword, S. LittlechildIntroduction, P.L. JoskowI. What's Wrong with the Status Quo?1. Why Restructure Electricity Markets?, F.S. Sioshansi2. Sector-specific Market Power Regulation vs. General Competition Law: Criteria for Judging Competitive vs. Regulated Markets, G. KniepsII. Trailblazers 3. Chile: Where It All Started, R. Raineri4. Electricity Liberalization in Britain and the Evolution of Market Design, D. Newbery5. The Nordic Market: Robust by Design?, E. Amundsen, N.H. von der Fehr, & L. BergmanIII. Evolving Markets6. The Electricity Industry in Australia: Problems Along the Way to a National Electricity Market, A. Moran7. Restructuring of the New Zealand Electricity Sector, 1984-2005, G. Bertram8. Energy Policy and Investment in the German Power Market, G. Brunekreeft & D. Bauknecht9. Competition in the Continental European Electricity Market: Despair of Work in Progress?, R. Haas, J.M. Glachant, N. Keseric, & Y. Perez IV. North America, New World, New Challenges10. California Electricity Restructuring, the Crisis, and Its Aftermath, J.L. Sweeney11. Texas: The Most Robust Competitive Market in North America, P. Adib & J. Zarinkau12. Electricity Restructuring in Canada, M. Trebilcock13. The PJM Market, J. Bowring14. Independent System Operators in the United States: History, Lessons Learned, and Prospects, R. O'Neill, U. Helman, B. Hobbs, & R. Baldick15. Competitive Retail Power Markets and Default Service, T. TschamlerV. Other Markets16. The Case of Brasil: Reform by Trial and Error?, J.L. R. Hermes de Arauja17. Understanding the Argentinian and Colombian Electricity Markets, I. Dyner, S. Arango, & E.R. Larsen18. A New Stage of Electricity Liberalization in Japan: Issues and Expectations, M. Goto, M. Yajima