Description

Most OECD countries, and many countries outside the OECD, are now deeply engaged in a reform of their electricity markets to stimulate competition and improve efficiency. This book considers the key elements of effective reform based on a review of experiences to date. A converging trend emerges, that emphasizes competition in the generation, supply, and trade of electricity, aimed at maximizing consumer choice. It also highlights the development of new approaches to regulation of the transmission system, which remains monopolistic. This book is an invaluable guide and reference for energy policy makers. It examines the many issues and functions that define a modern, liberalized electricity supply industry, and the challenges posed by regulatory reform. It is the latest in a series of IEA publications on energy market reforms.