A Comparative Study of the Electricity Markets in UK, Spain and Nord Pool
27 June 2002
By Graham Shuttleworth and former Special Consultant Isabelle McKenzie
In this report, NERA Director Graham Shuttleworth and former Special Consultant Isabelle McKenzie examine the experience of electricity markets in England, Wales, Norway and Spain, drawing on examples from other countries to illustrate key points. Although different markets take their own approach when proceeding with daily practice, the authors outline common principles and lessons, including (1) the relationship between contracts and pools, (2) pricing rules, (3) payments for capacity and (4) congestion management. The report identifies general choices to aid discussion of regulation and design of electricity markets. The explanations will also assist governments making important decisions that are contingent on local conditions. Graham Shuttleworth presented the report at a conference in Rome on 27 June 2002 organized by Confindustria.
