A Comparison of Market Structure and Regulation Between US and European Utility Markets
Despite fundamental similarities, the organization, management and regulation of utilities have evolved along different paths in different parts of the world. With the current interest in liberalizing the industry and introducing competition into electric
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Handbook Utility Management
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Handbook Utility Management
Andreas Bausch • Burkhard Schwenker Editors
Handbook Utility Management
Prof. Dr. Andreas Bausch Professor of Business Administration and International Management School of Economics and Business Administration Friedrich Schiller University Jena Carl-Zeiss-Straße 3 07743 Jena Germany
Prof. Dr. Burkhard Schwenker Chief Executive Officer Roland Berger Strategy Consultants Am Sandtorkai 41 20457 Hamburg Germany [email protected]
and Adjunct Professor of Strategic Management and Controlling Academic Director Executive MBA in European Utility Management School of Humanities and Social Sciences Jacobs University Bremen Campus Ring 1 28759 Bremen Germany [email protected] [email protected]
ISBN 978-3-540-79348-9 e-ISBN 978-3-540-79349-6 DOI 10.1007/978-3-540-79349-6 Springer Dordrecht Heidelberg London New York Library of Congress Control Number: 2009929713 © Springer-Verlag Berlin Heidelberg 2009 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer. Violations are liable to prosecution under the German Copyright Law. The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Cover design: WMXDesign GmbH, Heidelberg, Germany Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
Preface
Traditionally, the supply of electricity and gas has been in the hands of vertically integrated monopolistic businesses, either state owned or under mixed private and state ownership. This began to change in the early 1980s, first in America and later in Europe. With the deregulation and liberalization of the European electricity and gas market this vertically integrated value chain broke down and separate market segments began to form, moving in the direction of greater competition. During the 1990s, many European countries began to restructure their electric power sectors with the aim of introducing competition, achieving greater performance, and thus providing long-term benefits to consumers. The restructuring process was finally triggered by the European Commission’s 1996 directive 'Concerning Common Rules for the Internal Market in Electricity', the intention of which was the creation of a common European electricty market. In June 1998, the first natural gas directive was passed by the European Parliament and the Co
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