Evolution of Global Electricity Markets

Preface

Over the past 15 years international electricity markets have been transformed from centralized to more open and competitive arrangements. Typically, the old vertically integrated utilities were broken up into discrete elements of the supply chain, with competing generators and retailers and a regulated network sector. Most of the changes aimed to widen markets, facilitate energy trade across national and state borders, and optimize infrastructure use. As set out in this timely compendium, the reforms in the main have been successful in delivering the generation investment, when and where required. There have also been significant retail reforms, with more consumers enjoying choice in their supply arrangements.

However, energy markets ...