Highly volatile electricity prices are becoming a more frequent and unwanted characteristic of modern electricity wholesale markets. But low demand elasticity, mainly the result of a lack of incentives and consumers’ inability to control demand, means that consumer behaviour is not reflected...

This book analyses the impact of electricity market reform on investment in the power industry. It considers the implications of more open and competitive markets for the security of electricity supply. Some of electricity’s uses are essential components of modern life. Security of electricity...

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...