Competition and Regulation in the Spanish Gas and Electricity Markets

Abstract

This report provides an overview of the main competition and regulatory issues in the Spanish gas and electricity markets, setting them in the broader context of the liberalisation of the European energy market. Public policy in energy markets needs to reconcile a number of different objectives, including security of supply, environmental considerations, domestic competition and international competitiveness of the overall economy. There is frequently tension between some or all of these objectives. This tension requires a coherent set of policies to alleviate the trade-offs that are involved.