Abstract
The path that the liberalizing power markets have followed in many countries has common milestones that have been explored in the literature regarding power market liberalization pretty widely and thoroughly. One of the most important research topics and an important contribution to the literature on the subject is Making Competition Work in Electricity Markets by Sally Hunt. Although the path towards retail competition has been illustrated as models in this canonical research, four stages were depicted distinctly: vertically integrated model, single buyer model, wholesale competition and finally retail competition or retail choice.
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