What happened to power trading in the UK?

The British Power Pool, successful pioneer of electricity industry privatization though it may be, is under fire from many directions. It is alleged that it has failed to deliver competitive prices, particularly at the generating end. It is also seen as the main factor inhibiting the development of electricity trading, in particular on the futures and derivatives front. An independent review of the pool has now been declared by Minister of State John Battle. There is no shortage of advice and constructive suggestions from all quarters – from the sublime to the ridiculous. Here we look at two of the more credible critiques.