Developing market instruments and a strong regulatory framework are essential in order to ensure that energy is delivered reliably and at least cost.
There is considerable UK and international experience in this area; however there are still issues that require more attention particularly in light of climate change and energy security challenges. In our work, we focus not only on the UK but also on international experience and debates.
Our research in this area:
Erkan Erdogdu: A cross-country analysis of electricity market reforms: potential contribution of new institutional economics
David Newbery: The Robustness of Agent-Based Models of Electricity Wholesale Markets
Erkan Erdogdu: The Political Economy of Electricity Market Liberalization: A Cross-country Approach
Luis Orea and Jevgenijs Steinbuks: Estimating Market Power in Homogeneous Product Markets Using a Composed Error Model: Application to the California Electricity Market
Stephen Bordignon and Stephen Littlechild: The Hunter Valley Access Undertaking: elements of a negotiated settlement
David Newbery: Reforming Competitive Electricity Markets to Meet Environmental Targets
Rabindra Nepal and Tooraj Jamasb: Market Integration, Efficiency, and Interconnectors: The Irish Single Electricity Market
David Newbery: Contracting for wind generation
Stephen Littlechild: Regulation, customer protection and customer engagement
Simon Taylor: Can New Nuclear Power Plants be Project Financed?
Rabindra Nepal and Tooraj Jamasb: Reforming Small Power Systems Under Political Volatility: The Case of Nepal