Abstract :
While the pace of deregulation varies from region to region around the globe, emerging patterns show similar consequences everywhere. The disaggregation process and the impact of new technologies further differentiate the specifics of each area. It is argued that the successful transition in each region will depend on relevant regulatory rules and special attention to keeping the basics of this industry right, for example by maintaining adequate regional balance of supply and demand. Early preparation to market competition and best use of technology will drive success in this new and challenging environment. Deregulation and liberalization of the utilities sector occur under different models and at various speeds in each of the global markets. The utility companies of the past ran the entire process, from generation to retail settlement. The new unbundled value chain breaks out the functions into four basic entity types: generators; energy network owners and operators; energy traders, brokers, and exchanges; and energy service providers and retailers. [This article is part ofa series that summarizes presentations given at the 2002 IEEE PES Summer Meeting plenary session on The Future Grid: Megawatt and Beyond.]
