market structure, competition, and regulation in electricity market ...
market structure, competition, and regulation in electricity market ...
market structure, competition, and regulation in electricity market ...
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EXPERIENCE WITH REFORMS<br />
• Most developed countries have encountered difficulties <strong>in</strong> restructur<strong>in</strong>g<br />
• UK was early, but problems with <strong>market</strong> power, pric<strong>in</strong>g, <strong>in</strong>vestment<br />
coord<strong>in</strong>ation<br />
• now <strong>in</strong> 3 rd generation of reforms<br />
• US has patchwork of different <strong>and</strong> chang<strong>in</strong>g federal <strong>and</strong> state reforms<br />
• record <strong>in</strong>cludes some significant successes, but also major failures<br />
• reforms now stalled<br />
• EU has had several successive <strong>electricity</strong> directives<br />
• attempted to open up national <strong>market</strong>s, create <strong>in</strong>dependent system operators,<br />
<strong>and</strong> develop retail <strong>competition</strong><br />
• uneven progress among EU countries<br />
• Develop<strong>in</strong>g countries face additional issues:<br />
• Public ownership, th<strong>in</strong> <strong>market</strong>s, barriers to entry, <strong>in</strong>stitutional weaknesses,<br />
development objectives<br />
• Experience even more varied
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