How sustainability concerns have been taken into account on electricity systems regulation policy? Some insights from four European countries

The aim of this paper is to make an analysis of how sustainability concerns are being taken into account within the regulatory policy regarding the electricity system of four European countries: the UK as a paradigm of the liberalization process in Europe, Sweden integrated in the NordPool, and Portugal and Spain integrated in the more recent Iberian Electricity Market (MIBEL). The preliminary findings indicate that regulatory authorities recognize the importance of the integration of the social and environmental dimensions along with the economic one, but the formal design of such an integrated model is still emerging. Moreover, the findings achieved put in evidence that much of the sustainability concerns are still largely focused on the environmental dimension. However, the need to expand the concept beyond this dimension and to fully recognize and integrate the social dimension of sustainability is also now generally accepted by regulatory authorities.