We recall the historical changes that have taken place in the power markets worldwide and that have led to a partial or full opening for competition. Afterwards we discuss power market structure with special emphasis on differences between financial or other commodity markets on one hand and the...

This paper demonstrates that insiders can erect barriers to entry and skim rents by sinking costs in human capital when labour markets are otherwise perfectly contestable. The sunk costs nature of human capital investments may result from the need to satisfy ever increasing specialised skill...