A functional legal design for reliable electricity supply

"The liberalisation and international integration of electricity markets have led to a dramatic increase in the complexity of the electricity sector. Rather than hierarchical control, it is the legal framework ('rules of the game') that determines the behaviour of actors such as power generators, traders and network operators. Because of the unusual technical and economic characteristics of electricity markets, their performance is very sensitive to the formulation of the legal framework. Still, a structured approach to formulating the legal framework has not yet been developed. This book meets this demand."--BOOK JACKET.