Power Markets and Electricity Derivatives

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Candice A


Date added:

June 15, 2010







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3 / 611


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At the same year, the European Union issued its Electricity Directive (Directive 96/92/EC) according to which the electricity markets of all EU countries should be open for competition by 2003, with the exceptions of Greece and Ireland which were granted a one year extension [13]. Deregulating a country's energy sector is a complicated and difficult task...
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The typical power utility operation is divided into three main functions: electricity generation, its transmission over the power grid and finally the distribution to the end users. Deregulation stipulates that all three functions should be open to competition. In particular, new and existing power generation utilities/companies (GenComs) should be able to compete with each other at a wholesale level...
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