Titlebook: Making Energy Markets; The Origins of Elect Ronan Bolton Book 2021 The Editor(s) (if applicable) and The Author(s), under exclusive license

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Inventing Competitionheld view that electricity was a ‘natural’ monopoly, requiring overall responsibility for ensuring the continuous operation of the system to be centralised within one body which had control over the major generators and the high-voltage transmission grid.

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Introduction: Making Energy Markets,esulting in the duplication of assets and inefficiencies. Competition had been swept aside by rationalisation and more modern forms of industrial organisation, enabling, in Alfred Chandler’s words, ‘Economies of Scale and Scope’. There seemed to be an inherent centralising logic behind the growth of

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Europe: The Economic Logics of Tradelised cross-border trade as a means of accessing cheaper imports of power and breaking free from their obligations to purchase from local and national monopoly suppliers. Given the extensive interconnection of European grids, the economic drivers outlined above, and the political momentum behind the

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Power Exchange: Norwegian Originsunctions to be ‘managed on a national basis while commercial trading between the market participants is multinational’, an appealing feature of the market for countries in the Nordic region which had a long history of public ownership and state control of their electricity systems.

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Book 2021lectricity sector, in particular coal mining, nuclear power and energy intensive production. The book discusses how an understanding of the origins of electricity markets and their political character can inform contemporary debates about renewables and low carbon energy transitions. .

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