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At the same year, the European Union issued its Electricity Directive (Directive 96/92/EC) according to which the electricity markets of all EU countries should be open for competition by 2003, with the exceptions of Greece and Ireland which were granted a one year extension .
Deregulating a country's energy sector is a complicated and difficult task. The typical power utility operation is divided into three main functions: electricity generation, its transmission over the power grid and finally the distribution to the end users. Deregulation stipulates that all three functions should be open to competition...
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