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
Liberalised electricity markets open up many new opportunities but also present a number of challenges. Understanding this dynamic environment, its complexities, risks and uncertainties, is central to our research agenda.
We investigate issues of market design and competition within the context of wider challenges such as climate change and energy security.
Topics in this area include:
- market design for efficient investment in balancing and wholesale markets, generation and low-carbon technologies
- obstacles to competition and design of strategies to mitigate market power
- the changing role of regulation and competition policy in liberalised markets
- retail competition and its impact on consumers
- restructuring and reforming electricity industries in other countries