Transmission System Security in Competitive Electricity Markets By International Energy Agency
Modern economies are becoming increasingly dependent on reliable and secure electricity services. The substantial supply disruptions that struck North America and Europe during 2003 clearly demonstrated the fundamental importance of transmission networks for the efficient and secure operation of electricity markets and highlighted their vulnerability to transmission network failures. While large blackouts are by no means a new phenomenon and have happened in the past before electricity reform, these disruptions created considerable public concern, with some claims that electricity reform had reduced electricity system reliability. Growing public sensitivity to supply disruptions reflects the increasing dependence of modern economies on reliable and efficient electricity supplies, and adds to the pressure on governments to effectively address reliability issues.
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