System reliability is a key aspect of electricity supply, and the ability to maintain system reliability thus is an important aspect of a liberalised electricity market. But system reliability can be ensured only if there is sufficient operating reserve capacity at all times. In a liberalised...

The European market directive from 1996 was only reluctantly implemented in Denmark in 1999. This is not different from a number of other member countries. However, the approach to liberalisation was more radical than in other reluctant countries. We address three tenets in standard market...