Electricity liberalisation in Britain : the quest for a satisfactory wholesale market design

@inproceedings{Newbery2004ElectricityLI,
  title={Electricity liberalisation in Britain : the quest for a satisfactory wholesale market design},
  author={David Newbery},
  year={2004}
}
Britain was the exemplar of electricity market reform, demonstrating the importance of ownership unbundling and workable competition in generation and supply. Privatisation created de facto duopolies that supported increasing price-cost margins and induced excessive (English) entry. Concentration was ended by trading horizontal for vertical integration in subsequent mergers. Competition arrived just as the Pool was replaced by New Electricity Trading Arrangements (NETA) intended to address its… CONTINUE READING
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