The Liberalised Electricity Market? A critical analysis as to whether liberalisation was successful in achieving a single, competitive and well-functioning European energy market

The process of liberalising the European electricity market started more than 20 years ago. The primary objective of this plan was to bring about a shift from the steady national markets with monopolistic supply arrangements to an internal energy market filled with robust competition among the suppliers. Despite the fact that most Member States of the European Union (EU) have liberalized their electricity market, the goal of market opening such as guaranteed third party access was not yet attained. Hence, liberalisation was unsuccessful as barriers to competition remained a European internal market for electricity. Hence, liberalisation was unsuccessful as barriers to competition remained. This paper, therefore, argues why the liberalisation of the energy market introduced with the first and second energy directives was not successfully achieved. It shows evidence of the fact that the first two directives were largely inadequate and limited in its reforms towards liberalisation, which led to the sector inquiry and proposals for a third energy directive