The European Electricity Market Enters the New Millennium

Abstract

European countries emerged from World War II tattered and politi-
cally isolated. Much of the energy systems and infrastructure established
during this post war period continued to dictate energy policy well into
the early 1990s. The European Union, EU, (previously known as the
European Community) was established after the war and included Bel-
gium, France, Germany, Italy, Luxembourg, and the Netherlands. The EU
has since expanded to 15 members with the admission of the United
Kingdom, Ireland, and Denmark in 1973; Greece in 1981, Spain and
Portugal in 1986, and Austria, Finland, and Sweden in 1995.
Currently, many of the remaining European and former Soviet
block countries are in alliance and/or cooperation with the EU objectives
and policies. Much recent progress has been seen on the cooperation and
unification of European nations as is evident in the widespread accep-
tance and implementation of the common European currency, the Euro,
in 1999.
From an energy perspective the EU is highly dependent on non-
Union countries for much of its energy supplies. Statistically, almost half
of its primary (all energy sources including fuel oils, coal, gasoline, natu-
ral gas, electricity, etc.) energy is imported.