Quality of supply in liberalized electricity markets

There are many attempts to standardize and regulate quality of supply in electricity markets. We focused on two electricity markets: in Australia and Europe. The market in Australia was created in 1994 by the introduction of the Victorian electricity market. The European electricity market is under construction due to the Directive 96/92 and requires not only development of new quality regulations, but also the synchronization of various standards and approaches which have been historically developed in membership countries. Quality of supply issues become more important every year as in 2004 a group of ten countries are to join the European Union.