After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the international experience suggests that in nearly all cases, initial market reform leads to unintended consequences or introduces new risks, which must be addressed in subsequent “reform of the reforms.” Competitive Electricity Markets describes the evolution of the market reform process including a number of challenging issues such as infrastructure investment, resource adequacy, capacity and demand participation, market power, distributed generation, renewable energy and global climate change.

• Sequel to Electricity Market Reform: An International Perspective in the same series published in 2006
• Contributions from renowned scholars and practitioners on significant electricity market design and implementation issues
• Covers timely topics on the evolution of electricity market liberalization worldwide

• Front Cover 2
• Competitive Electricity Markets: Design, Implementation, Performance 5
• Copyright Page 6
• Table of Contents 7
• Contributors 9
• Foreword: Liberalization and Regulation in Electricity Systems – How can We get the Balance Right? 19
• Preface: Competition and Long-Term Dimensions of Electricity Supply 37
• Introduction: Electricity Market Reform – Progress and Remaining Challenges 45
• PART I: Market Reform Evolution 69
  • Chapter 1. Reevaluation of Vertical Integration and Unbundling in Restructured Electricity Markets 71
    • 1.1. Introduction 71
    • Summary 71
    • 1.2. The Historical Motives for Vertical Integration 73
    • 1.3. The Case Now for Liberalized Markets 79
    • 1.4. The Unsolved Problems of Liberalized Markets 92