European energy market - Essay Example

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European energy market

Power generation, its trade and supply are opened to competition. However network activities such as lower voltage distribution and high voltage transmission are still regulated by national monopoly. The liberalization started as a result of Electricity Market Directive of 1996. By the year 2000 most of the member states implemented the liberalization package. But some members especially France and Germany did not agree with these policies (Prospects for the internal gas and electricity, 2007).
The Directive of 1996 was updated later, in the year 2003. The legislation ensured security of supply, efficient operation of power generation plants, efficient network access, access to storage, and transparency in the dealings of all member countries and thus facilitated a fully open energy market to all member countries. The industrial markets were opened up for competition by July, 2004. By 1st July 2007, all the household users also had access to the open market and both industrial and household customers could select a provider of their own choice in the competitive market. ...Show more

Summary

The European energy market was highly fragmented and was under the monopoly of different member states until about 1990 (Cameron, 2007). European Commission initiated liberalization of energy market for the benefit of consumers and for development of its economy and this procedure is still underway heading towards a single energy market, which is proposed to reduce price and increase the quality of the service…
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European energy market essay example
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