^4fMARKET OPERATION UNDER NETA, AND FUTURE CHALLENGES IN THE UNITED KINGDOM ELECTRICITY MARKET

摘要

^7fThe United Kingdom Electricity (UK) Industry has undergone fundamental change and sustained development since its divestiture in 1990. These advancements have consequently demanded progressive revisions to the trading market rule base to satisfy nationally prevailing political, social, and economic agendas. In 2002, the most radical single step development within the market was the adoption of the New Energy Trading Arrangements of England and Wales (NETA). These arrangements are unique in character within worldwide markets and have presented multiple diverse challenges to all the market participants. The market has also become increasingly influenced by regulatory pressures derived from global environmental targets, setting further challenges to which the market must adapt. We review these and the central aspects of NETA and discuss their collective implications.