Reserve adequacy requirements: the recent developments in the Italian system

Summary form only given. The Italian power system has gradually carried out its restructuring, as governed in Europe by the Directive 96/92/EC and in Italy by the new "Electric Law", the so called Bersani Decree 79/99 of 31/3/1999. Italy has an independent regulator for electricity and gas, established by the Law of 14 November, 1995, no. 481, well ahead of the market opening. At the end of 1999, 32% of the previous monopolistic vertically integrated utility ENEL Spa, was sold and the company has been progressively unbundled. This paper presents an overview of the recent development in the Italian power system.