Over the last 15 years, an increasing number of electricity industries has replaced vertical integration with markets as the main method of organizing production. Electrical energy is traded in many European and US markets, while the USA also has markets for generating capacity. US generators...

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...

When the electricity industry was privatized, the government made structural changes to encourage competition in generation and in supply to consumers. The conventional power stations were only divided between two companies, however, and we show that duopolistic competition in an unregulated...