Hybrid Electricity Markets: The Problem of Explaining Different Patterns of Restructuring

Publisher Summary This chapter presents a framework for explaining the differences in the approach to electricity market restructuring around the world. A number of policy objectives exist with regard to power market restructuring; the particular institutional context has a strong influence upon which policy objectives are chosen and how they are prioritized. Implementation of these objectives takes place through two main policy areas: the market design process and competition policy (including the policy with respect to horizontal unbundling of dominant incumbent firms). This process is constrained by external factors such as the economic climate and the physical situation in a country.

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