Independent regulatory authorities are a basic prerequisite for a successful liberalization process. However, contrary to what is expected, both graphical analyses and OLS regressions for a small sample of electricity and gas regulators operating in 16 European countries reveal a negative...

The linking of different jurisdictions or markets via electrical interconnection is a long established means of offering enhanced security of supply to the wider electrical system. In recent years, new incentives around exploiting market price differentials and facilitating the growth of...

When prices are high and public service obligations are not properly fulfilled, consumers wonder if they obtain what they need from the market. In electricity and gas markets of the EU Member States, apart from the persistence of high, non-transparent regulated prices, a number of shortcomings...

Energy markets in the United States and the European Union are in the midst of a transition from a monopolistic structure to a competitive one. This paper argues that the outcomes of the reform process should be understood in the context of existing regulatory institutions. Successes and...