This paper studies how different types of unbundling – accounting, management, legal and ownership unbundling – influence the electricity wholesale market. Starting from the current market situation as observed in many countries, with imperfect competition in generation and...

Most firms in the electricity sector are vertically integrated. Often these integrated firms are accused of using income generated in the regulated sector in order to cross-subsidize their unregulated activities. This cross-subsidization is said to distort the level-playing field and lead to an...

Most firms in the electricity sector are vertically integrated. Often these integrated firms are accused of using income generated in the regulated sector in order to cross-subsidize their unregulated activities. This cross-subsidization is said to distort the level-playing field and lead to an...

This paper studies how different types of unbundling – accounting, management, legal and ownership unbundling – influence the electricity wholesale market. Starting from the current market situation as observed in many countries, with imperfect competition in generation and imperfect...