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Abstract:It has been more than 10 years since UK started privatization and liberalization of its power industry. EU, USA, Australia, New Zealand and Asian countries all followed the trend of deregulation, though with a different manner in their market design. Taiwan has also held the policy of power market deregulation in the reform agenda for more than 10 years. However, due to many economic and political considerations the reform process has been postponed and delayed. The draft of Electricity Act amendment has been revised again and again and never reached the real enactment stage. The latest version of the draft was submitted by Energy Bureau on 13 October, 2005. The amendment deregulates the industry by opening the entry of generation, transmission and distribution business. Independent system operator will be the core body of the future market and system operation. Since the reform is not an easy task and usually is coupled with many loopholes and risks the purpose of this study is to present and overview of European Union (EU) power market deregulation and its performance of the reform. This paper is intended to act as a key reference for decision makers being responsible for the reform of deregulating Taiwan electricity supply industry. Hopefully, in the light of EU successful experiences we can learn from the operations of its market design and monitory system. Also through the review and the study we wish we can contribute to the rehabilitation of our people’s confidence in deregulation of our electricity supply industry.