Evolution of Global Electricity Markets

Chapter 2

Electricity Market Reform in Britain

Central Planning Versus Free Markets

Malcolm Keay, John Rhys and David Robinson,    Oxford Institute for Energy Studies

1 Introduction

In Chapter 1 of this book, Newbery looks at the evolution of the UK electricity market.¹ Market reforms are currently under way there in response to the challenge of meeting ambitious targets for renewable energy and decarbonization. Newbery concludes that the UK approach is largely sound, though concerns remain about whether it represents a step back from market liberalization; indeed, he suggests that there could be a fundamental concern about whether liberalized ...