Is NETA the blueprint for wholesale electricity trading arrangements of the future?

Author

Hesmondhalgh, Serena

Author_Institution

Caminus Corp., London, UK

Volume

18

Issue

2

fYear

2003

fDate

5/1/2003 12:00:00 AM

Firstpage

548

Lastpage

554

Abstract

The New Electricity Trading Arrangements (NETA) in England and Wales are just over one year old and are generally acknowledged to have successfully enabled competitive pressures to emerge fully in the generation market for the first time since the electricity industry was liberalised in 1990. With their emphasis on treating electricity as far as possible like any other tradable commodity and their lack of a centralized clearing market, they represent a radical departure from conventional wholesale trading arrangements. This article explains the principles underlying NETA and examines how the arrangements have fared over their first year.

Keywords

commerce; power markets; power system economics; risk management; NETA; New Electricity Trading Arrangements; UK; centralized clearing market; competitive pressures; electricity industry liberalisation; energy trading; generation market; risk management; Buildings; Costs; Economic forecasting; Electricity supply industry; Government; Industrial relations; Power generation; Power markets; Risk management; Supply and demand;

fLanguage

English

Journal_Title

Power Systems, IEEE Transactions on

Publisher

ieee

ISSN

0885-8950

Type

jour

DOI

10.1109/TPWRS.2003.810699

Filename

1198285