Reviewed by: Making Energy Markets: The Origins of Electricity Liberalisation in Europe by Ronan Bolton Yves Bouvier (bio) Making Energy Markets: The Origins of Electricity Liberalisation in Europe By Ronan Bolton. Cham: Palgrave Macmillan, 2021. Pp. 367. As happens so often, the reader who hopes to find in this book a historical analysis of the title (Making Energy Markets) will be disappointed. Ronan Bolton's book, on the other hand, will provide much more enlightenment on the subtitle (The Origins of Electricity Liberalisation in Europe). The clarification is not insignificant, because the author does not deal with energy as a whole but only with electricity. Bolton presents a precise analysis of the movement initiated in the United Kingdom by the transformations of the Central Electricity Generating Board, which spread throughout Europe under the term "liberalization" during the 1990s. After a first part devoted to the United Kingdom, the author then describes liberalization in what he calls the "heart of Europe" (Germany, France, the European Commission) before focusing on the case of the Nordic countries, especially Norway, in the third part of the book. This structure may be surprising, but it is convincing in a dynamic systems approach in which technology, politics, and economics are intertwined. In the case of Norway, for instance, the Norwegian School of Economics in Bergen invented the structure-conduct-performance paradigm to justify the export of surplus hydroelectricity. According to the author, the European Commission's strategy was initially to generalize the British market model before integrating, at the beginning of the 1990s, a complexity linked to the diversity of energy sources in each member state. The interest of the book is not in the claimed socio-technical approach. Indeed, in placing himself in the tradition of Thomas P. Hughes, the author leaves not much space for technology and does not avoid the sacralization of the combined-cycle gas turbine. Similarly, he tends to make the technologies disappear behind the energy sources while reinforcing national stereotypes: gas for the United Kingdom, nuclear for France, coal for Germany, and hydroelectricity for Norway. Bolton thus leaves aside most of the concepts of "networks of power," including that of momentum, and does not go further into Richard Hirsh's theses as one might have hoped. For the technical aspects of electrical networks, he quotes the works of Vincent Lagendijk and Arne Kaijser but completely ignores the work on the history of computing, which is surprising for the period covered. Seeing in competition and the market an answer to the blockages of national systems is a repetition of the economic discourse and underestimates the permanence of competition in the electrical field. On this point, we can regret the gaps in the bibliography on the economic and political history of European construction: the complex nature of the notion of the market in Europe since the oil crisis (Warlouzet, Governing Europe in a Globalizing World, 2018) and the existence of a European view [End Page 597] of electricity for nearly one hundred years (Lagendijk, Electrifying Europe, 2008) before the liberalization of the 1990s arrived. The discussion forums of the International Energy Agency and the OECD (Schmelzer, The Hegemony of Growth, 2017) are simply ignored. Nevertheless, it is in the analysis of the inception of the electricity market through the debates on its regulation that Bolton's book effectively informs the history of technology. The pages devoted to the tensions of regulation perfectly translate the limits of the economic conception of markets on the one hand, and the only partial dependence on energy technologies on the other (chs. 4 and 7). In these intellectual, economic, and political margins, a regulated market is emerging in the United Kingdom. All the players, all the institutions, all the technical bodies have been involved at one time or another in this initiation of an electricity market. By combining long-term strategic analyses and micropolitical actions, the author highlights the unstable forms of electricity markets. The impossible quest for a long-term equilibrium in the electricity market is the main outcome of this book, for the United Kingdom in the late 1980s as for the European Union ten years later. Thus, the concluding chapter sets this period of...