Executive summary -- Introduction -- 1. Electricity market liberalisation has delivered long term benefits -- 2. Competition is the fuel for effective markets -- 3. Price signals are the glue -- 4. Risk management and consumer protection -- 5. Investment in generation and transmission -- 6. When do liberalised electricity markets fail? -- Annex 1. British electricity trading and transmission arrangements -- Annex 2. The Nordic electricity market -- Annex 3. Australian national electricity market -- Annex 4. Pennsylvania - New Jersey - Maryland interconnection (PJM) -- References -- List of tables -- List of figures.

After a decade or more of experiences in reforming electricity markets in several pioneer regions, some important lessons can now be drawn. This book gives an assessment of these developments, focusing on the issues that are critical for successful electricity market liberalisation. One lesson is that it is a long process which requires strong on-going government involvement and commitment.