Electricity Market Reform

Electricity market reform initiatives have been implemented in a number of countries, states and provinces around the world, starting in the late 1980s. These reforms, which vary in complexity and scope, have worked reasonably to remarkably well in some cases, resulting in efficient and transparent competitive wholesale markets delivering lower costs to retail consumers. In other cases, the results have proven problematic to disastrous. In nearly all cases, the original reforms have been followed by 'reform of the reforms' to address problems associated with the original design of the market.