Journal Article

Markets for Electricity in Europe

Richard Green

in Oxford Review of Economic Policy

Published on behalf of The Oxford Review of Economic Policy Ltd

Volume 17, issue 3, pages 329-345
Published in print September 2001 | ISSN: 0266-903X
Published online September 2001 | e-ISSN: 1460-2121 | DOI: http://dx.doi.org/10.1093/oxrep/17.3.329
Markets for Electricity in Europe

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Competition in the electricity industry requires properly functioning wholesale markets. This paper discusses the better‐established electricity markets of Europe, in the Nordic countries, England and Wales, and Spain. The different market designs can all produce efficient outcomes, if not hindered by market power. Long‐term contracts provide some defence against market power, and give price stability to promote investment. Competition in electricity retailing may discourage retailers from signing long‐term contracts in future.

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Subjects: Economic Development and Growth ; Public Economics ; Political Economy ; Public Policy

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