Security in Gas and Electricity Markets: Final Report for the Department of Trade and Industry
21 October 2002
By Graham Shuttleworth et al.
This report was commissioned by the UK Department of Trade and Industry (DTI) as part of a broad consultation initiative, the result of which was a white paper published in February 2003, "Our Energy Future: Creating a Low Carbon Economy." The paper outlines a strategic, long-term vision for energy policy incorporating the DTI's environmental, security of supply, competitive, and social goals. It builds on the Performance and Innovation Unit's February 2002 Energy Review, and on reports such as NERA's, which have looked at major areas of energy policy.
This report investigates the security of energy supply in the competitive sections of the gas and electricity markets in Great Britain. The report first defines "adequate security" and then considers the market's ability to provide that security, as well as the potential barriers -- both in the form of market failures and political and regulatory barriers -- to doing so. Additional details on the topics covered are available in the report's executive summary.
