Economic analysis of the electricity market in England and Wales

Author

Cheng, Daniel T Y

Author_Institution

Power Grid Ltd., Singapore

Volume

19

Issue

4

fYear

1999

fDate

4/1/1999 12:00:00 AM

Firstpage

57

Lastpage

59

Abstract

The electricity supply industry in England and Wales (E&W) was restructured and privatized on Vesting Day, 31 March 1990. Eight years on, the UK government has reviewed the trading arrangements of the E&W electricity market and accepted the regulator´s proposal of replacing the day-ahead market (the pool) by several forward markets, a short-term bilateral market, and a balancing market. This letter looks at what some economists had examined of the present E&W electricity market under the day-ahead arrangement. Such economic analysis may serve as a reference to power engineers elsewhere participating in the restructuring of their electricity supply industries

Keywords

electricity supply industry; power system economics; England; UK government; Wales; balancing market; day-ahead market; economic analysis; electricity market; electricity supply industry privatisation; forward markets; short-term bilateral market; trading arrangements; Companies; Contracts; Costs; Electricity supply industry; Government; Nuclear power generation; Power generation; Power generation economics; Power grids; Regulators;

fLanguage

English

Journal_Title

Power Engineering Review, IEEE

Publisher

ieee

ISSN

0272-1724

Type

jour

DOI

10.1109/39.755016

Filename

755016