THE ROLE OF INFORMATION SYSTEMS FOR IMPROVING EFFICIENCY OF THE ELECTRICAL ENERGY MARKETS

Long-term significant improvements of efficiency on electrical energy markets are possible only if a whole package of compatible, pro-efficiency changes of market and regulation mechanisms are to be applied. There is a chance to implement these changes not in a one step as shock therapy, but rather throught evolutionary changes of the market mechanisms. However, each step of the evolution would involve costs of information systems adaptation and thus may face strong barriers. In the paper we deliberate on the role of information systems for improving electrical energy market efficiency. Particularly, we consider how and in what areas the information systems must be developed to enable increase of market efficiency. The questions we address concern the barriers of information systems and their readiness for possibilities of improving market efficiency. We draw the conclusions how the information systems should be implemented for staying expressive while the market is continuously evolving. Only open and flexible solutions give us the chance for cheaper and easier market developments. It is possible to achieve such solutions nowadays, and our M(3) (Multicommodity Market Model) is an example of an attractive standard for data modeling.