CONTENTS -- FOREWORD -- INTRODUCTION -- SECTION 1 - WORLD MARKETS -- Chapter 1: World energy markets: trends & changes -- SECTION 2 - NATIONAL STUDIES OF ENERGY STRUCTURE AND REFORM -- Chapter 2: Britain's regulatory regime in perspective -- Chapter 3: Liberalising the Spanish electricity market: can competition work? -- Chapter 4: The electricity supply industry in Poland: the new legal framework and privatisation -- Chapter 5: Electricity competition regulation and the environment - an assessment of the Australian approach -- Chapter 6: Regulating energy in federal transition economies: the case of China -- SECTION 3 - ELECTRICITY AND GAS: MARKETS AND REGULATION -- Chapter 7: Wholesale trading arrangement: competing options for Europe -- Chapter 8: Regulation policy and competitive process in the UK contract gas market: a theoretical analysis -- Chapter 9: "Regulatory sparks about to fly? " The electricity generation industry -- Chapter 10: How will electricity prices in deregulated markets develop in the long run? Arguments why there won't be any really cheap electricity -- SECTION 4 - OIL: MARKETS AND REGULATION -- Chapter 11: Windows on exploration: the estimation of oil supply functions -- Chapter 12: Auctions vs. discretion in the licensing of oil and gas acreage -- Chapter 13: UK North Sea oil production 1980-1996: the role of new technology and fiscal reform -- Chapter 14: Exploration and development investment and taxable capacity in the UKCS under different oil and gas prices -- SECTION 5 - RENEWABLE ENERGY -- Chapter 15: Renewables in the UK-how are we doing? -- Chapter 16: Fluctuating renewable energy on the power exchange.

Chapter 17: Lessons for the United Kingdom from previous experiences in the demand for renewable electricity -- Chapter 18: Modelling the prospects for renewable and new non-renewable energy technologies in the UK and some of the consequences implied -- SECTION 6 - ENVIRONMENT AND ENERGY EFFICIENCY -- Chapter 19: China's energy sector and its environmental impact -- Chapter 20: Investment appraisal in the transport sector in the United Kingdom - getting the signals wrong on energy and the environment? -- Chapter 21: Electricity liberalisation air pollution and environmental policy in the UK -- Chapter 22: Risk assessment and external cost valuation: how useful is the 'analytical fix' in the environmental appraisal of energy options? -- Chapter 23: Sustainability and nuclear liabilities -- Chapter 24: Retail market liberalisation and energy efficiency: a golden age or a false dawn? -- SECTION 7 - A SUMMING-UP -- Chapter 25: The international energy experience: Markets regulation and environment - a summing up -- Keyword Index -- TABLES -- Table 3.1: Capacity (1996) and generation by fuel type (1987-96) -- Table 3.2: Sector shares of Spanish electricity companies (1996) -- Table 3.3: Concentration in the Spanish and British electricity industry -- Table 3.4: Interconnectors with France in Spain and Britain -- Table 6.1: Selected symptoms of deficient regulation in China's energy industries -- Table 8.1: BG's share in the competitive market 1990-96 -- Table 11.1: Summary: countries with evidence of contractionary or expansionary supply conditions -- Table 12.1: Impact of past UK auctions on oil and gas tax revenue -- Table 12.2: Bids and outcomes of auction licence rounds -- Table 12.3: Significant discoveries on auction blocks -- Appendix Table 12.1: Elapsed time to drilling.

Appendix Table 12.2: Discoveries on auction vs. discretionary blocks -- Appendix Table 12.3: Activity on auction vs. discretionary blocks -- Appendix Table 12.4: Fallow acreage -- Table 13.1: Impact of 1983 and 1993 fiscal changes on IRR of selected fields -- Table 13.2: Fields affected by cost-saving production technology -- Table 14.1: Exploration and appraisal risks in the UKCS from 1984-1994 experience -- Table 14.2: Probability distributions of field sizes in UKCS -- Table 15.1: The fossil fuel levy (Lm) -- Table 15.2: Status of NFFO1-5 -- Table 15.3: Eligible technologies by NFFO order -- Table 15.4: NFFO prices -- Table 15.5: NFFO5 -- Table 15.6: NFFO 1-5 status as at 30 June 1998 -- Table 16.1: Average total revenue per MWh wind power in the year 2005 (NOK/MWh) -- Table 17.1: Premiums/contributions proposed by suppliers for 'green' electricity in the U.S. -- Table 17.2: Participants premiums and marketing strategies for 'green' electricity in the U.S. -- Table 18.1: SAFIRE technology/sector matches -- Table 18.2: Accessible resource (MARKAL) vs. technical potential (SAFIRE) in 1000 GWh p.a. -- Table 19.1: Ambient concentrations of SO2 and TSP -- Table 19.2: Emission reductions and GDP loss in 2050 - percentage change relative to base -- Table 19.3: Fossil fuel consumption (percentages) - China and USA -- Table 20.1: Impacts included in trunk road scheme appraisal CBA -- Table 20.2: External costs of road transport in the UK per year (L bn.) -- Table 21.1: Percentage shares in UK electricity plant capacity 1989-1997 -- Table 21.2: Percentage shares in total electricity generated UK 1989-97 -- Table 21.3: Percentage shares in fuel input for electricity generation UK 1989 to 1997 -- Table 21.4: Fossil fuel emission factors and ratios UK 1996.

Table 21.5: Power station emissions (million tonnes) electricity generated (GWh) and Fossil Fuel Used (mtoe) UK 1989-96 -- Table 21.6: Index of emissions per unit of electricity generated UK 1988-96 (1990 = 100) -- Table 21.7: Index of emissions per unit of fossil fuel used UK 1988-96 (1990 = 100) -- Table 21.8: Forecasts of ESI fuel use percentage shares in 2005 (EP58 and EP65) -- Table 21.9: UK climate change programme 1994 -- Table 21.10: UK CO2 emissions in 2000 from EP65 (million tonnes of carbon) -- Table 21.11: EC large combustion plant directive: EP65 CL scenario for SO2 (million tonnes) -- Table 23.1: British Energy Segregated Fund - required annual contributions from 1997 onwards -- FIGURES -- Figure 1.1: World energy demand exc. FSU -- Figure 1.2: FSU energy demand -- Figure 1.3: World primary energy consumption: regional shares -- Figure 1.4: Fuel shares of total energy -- Figure 1.5: Energy consumption growth by fuel 1986-96 (Exc. FSU) -- Figure 1.6: Oil supply growth 1986-96 -- Figure 1.7: Gas supply growth 1986-96 -- Figure 1.8: Coal supply growth 1986-96 -- Figure 1.9: Nuclear growth -- Figure 1.10: Hydro supply growth 1986-96 -- Figure 1.11: Real energy price trends 1986-96 -- Figure 1.12: CO2 emissions -- Figure 1.13: Asian economic growth 1998 -- Figure 1.14: Oil price range 1988-1999 (excluding Gulf War) -- Figure 1.15: Energy resources - 1996 reserve to production ratios based upon proved reserves -- Figure 1.16: Oil production costs -- Figure 1.17: Future of FSU energy exports -- Figure 5.1: Daily time weighted average spot prices 1 Jan and 30 Sep 1997.

Figure 6.1: Schematic and simplified summary of the regulatory structure of state enterprises in China before the reforms announced in March 1998 (modified from Lu 1996). This diagram ignores the role of the Communist Party and the Military. Solid lines indicate a stronger relationship and dashed lines a weaker relationship -- Figure 7.1: Daily average primary electricity market prices: 22/9/97 - 23/9/98 -- Figure 8.1: Price of British Gas and non-British Gas -- Figure 8.2: Average prices of 7 main gas suppliers 1990-96 -- Figure 8.3: Incumbent's and entrant's reaction functions -- Figure 8.4: Outputs of British Gas (BG) and non-British Gas (NBG) -- Figure 8.5: Output of 7 main gas suppliers 1990-1996 -- Figure 8.6: BG's market share 1990-1996 -- Figure 9.1: The interaction of economic and environmental regulation -- Figure 10.1: No way to real competition without strong regulation? -- Figure 10.2: Utilities merge and electricity prices increase -- Figure 10.3: Evolution of electricity prices overtime (in principle) -- Figure 10.4: Evolution of electricity prices over time taking stranded investments into account -- Figure 10.5: Evolution of electricity prices under regulation competition and private monopolies -- Figure 10.6: Short term competition versus long term utilities strategic behaviour -- Figure 13.1: UK North Sea oil production since 1980 -- Figure 13.2: The 1985 group and the new fields -- Figure 13.3: Trend in size distribution of annual UK North Sea oil production -- Figure 13.4: Relationship between UK North Sea oil production and the oil price -- Figure 13.5: UK North Sea oil production under different scenarios -- Figure 13.6: Breakdown of increase in new fields production (between 1991 and 1995).

Figure 14.1: Schematic representation of investment situation facing explorationist.