Includes bibliographical references and indexes.

The difficult transition to competitive electricity markets in the United States / Paul L. Joskow -- Restructuring the electricity industry in England and Wales / Richard Green -- Lessons from the California electricity crisis / Frank A. Wolak -- Lessons learned: the Texas experience / Ross Baldick, Hui Niu -- The efficiency of electricity generation in the United States after restructuring / Catherine Wolfram -- Looking for trouble: competition policy in the U.S. electricity industry / James Bushnell -- The oversight of restructured electricity markets / Alvin K. Klevorick -- Time-varying retail electricity prices: theory and practice / Severin Borenstein -- Transmission market design / William W. Hogan -- Ensuring generation adequacy in competitive electricity markets / Shmuel S. Oren -- Perspectives from policymakers / Par Wood III, Thomas R. Kuhn, Joe Barton.

The electricity market has experienced enormous setbacks in delivering on the promise of deregulation. In theory, deregulating the electricity market would increase the efficiency of the industry by producing electricity at lower costs and passing those cost savings on to customers. As Electricity Deregulation shows, successful deregulation is possible, although it is by no means a hands-off process--in fact, it requires a substantial amount of design and regulatory oversight. This collection brings together leading experts from academia, government, and big business to discuss the lessons learn.