Meeus, LeonardoGlachant, Jean-MichelBelmans, Ronnie2017-12-022017-12-022006http://hdl.handle.net/20.500.12127/4629The liberalization in the European Union (EU) is a top down process driven by the Directives of the European Parliament and of the Council. The liberalization process, put into force in 1996 by Directive 96/92/EC, lead to the unbundling of activities in the electricity industry. In 2003, Directive 2003/54/EC was put into force, building on Directive 96/92/EC. The 3 major implementation aspects of the Directives are market opening, third party access and the independent system operator.enEnergy MarketsRevue-E407341514601516265505