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Markets for Electricity in Europe

Posted: 22 Sep 2003  

Richard J. Green

University of Hull - Department of Economics


Competition in the electricity industry requires properly functioning wholesale markets. This paper discusses the better-established electricity markets of Europe, in the Nordic countries, England and Wales, and Spain. The different market designs can all produce efficient outcomes, if not hindered by market power. Long-term contracts provide some defence against market power, and give price stability to promote investment. Competition in electricity retailing may discourage retailers from signing long-term contracts in future.

JEL Classification: L49, D44

Suggested Citation

Green, Richard J., Markets for Electricity in Europe. Oxford Review of Economic Policy, Vol. 17, No. 3, Autumn 2001. Available at SSRN:

Richard J. Green (Contact Author)

University of Hull - Department of Economics ( email )

Cottingham Road
Hull HU6 7RX, Great Britain
United Kingdom
+44 1482 465 720 (Phone)
+44 1482 466 216 (Fax)

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