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Market design

David M Newbery ()

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

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.

Keywords: Competition; liberalisation; restructuring; electricity; market power (search for similar items in EconPapers)
JEL-codes: G34 K23 L51 L94 (search for similar items in EconPapers)
Pages: 26
Date: 2006-02
New Economics Papers: this item is included in nep-bec, nep-com, nep-eec, nep-ene, nep-fin, nep-ind, nep-law and nep-mic
Note: IO
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