This paper compares electricity market reforms in the European Union with reforms in Chile and Brazil. The paradigm of competitive market structures for the electricity sector, as developed in the economics literature, is outlined: competitive markets in generation and retailing and an...

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...