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The liberalization of Europe's electricity market
Title: The liberalization of Europe's electricity market
Category: Social Sciences / Education
Details: Words: 1610 | Pages: 6.9 (approximately 235 words/page)
The liberalization of Europe's electricity market
INTRODUCTION
The importance of electricity in the world economy can hardly be underestimated. It serves as an input in almost every industry and we, as people have grown more and more dependent on electricity.
The electricity sector was, like most other utilities, traditionally a nationalized sector in many countries across Europe. In many cases a state monopoly was installed to dominate the supply in the whole sector in an effort to realise a 'social' optimum without exercising monopoly power. During the second half of the …showed first 85 words of 1610 total…
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…showed last 85 words of 1610 total…usually state-controlled that integrates generation, transmission and distribution of electricity) to a liberalized industry where competition is possible on the levels of generation and distribution. The transmission grid is considered to be a natural monopoly, and is run by a single organization that is responsible for maintenance, access and terms of access. An example is the NGC, the National Grid Company in the UK. Many countries have implemented regulation considering this transmission, with fixed conditions and tariffs for the use of the grid (Pepermans, Proost, 2000).
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