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Reforming Competitive Electricity Markets to Meet Environmental Targets

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  • Newbery, D.

Abstract

The UK and other EU countries are concerned to deliver secure, sustainable and affordable electricity, to meet challenging targets for decarbonisation and renewable energy. The UK Government has consulted and concluded that the present electricity market arrangements will not deliver all three goals, and has proposed a major Electricity Market Reform (EMR). This article describes the reasons for, and the nature of, the EMR, pointing to the need for further market and institutional reforms.

Suggested Citation

  • Newbery, D., 2011. "Reforming Competitive Electricity Markets to Meet Environmental Targets," Cambridge Working Papers in Economics 1154, Faculty of Economics, University of Cambridge.
    • Handle: RePEc:cam:camdae:1154
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    References listed on IDEAS

    as
    1. Joanne Evans & Richard Green, 2003. "Why did British electricity prices fall after 1998?," Working Papers EP26, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    2. David M. Newbery, 2005. "Electricity liberalization in Britain: The quest for a satisfactory wholesale market design," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 43-70.
    3. Green, Richard & Vasilakos, Nicholas, 2010. "Market behaviour with large amounts of intermittent generation," Energy Policy, Elsevier, vol. 38(7), pages 3211-3220, July.
    4. David M. Newbery, 2012. "Contracting for Wind Generation," Economics of Energy & Environmental Policy, International Association for Energy Economics, vol. 0(Number 2).
    5. Newbery, David M., 1998. "The regulator's review of the English Electricity Pool," Utilities Policy, Elsevier, vol. 7(3), pages 129-141, November.
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    More about this item

    Keywords

    Electricity market reform; environment; low-carbon generation;
    All these keywords.

    JEL classification:

    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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