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Role of regulators and regulation in a (typical) restructured electricity industry - page 7 / 21

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The Italian Authority for Electricity and Gas – September 20037

Role of regulation in generation competition/1

Generation adequacy

Function decomposition characterising the introduction of liberalised markets resulted in setting more generation companies in competition among themselves.

Not only the competition asset must be taken in to consideration, but also the fair development of the generation capacity (crucial issue in maintaining the adequacy of the resources).

Independently from reached liberalisation degree, it has been proved that, due to the presence of externalities, the optimum development cannot be reached without a sort of regulatory intervention

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