Energy Market Reform Competition In Electricity Markets

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Electricity Market Reform

Author : Fereidoon Sioshansi
Publisher : Elsevier
ISBN 13 : 0080462715
Total Pages : 687 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Electricity Market Reform by : Fereidoon Sioshansi

Download or read book Electricity Market Reform written by Fereidoon Sioshansi and published by Elsevier. This book was released on 2006-04-13 with total page 687 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the late 1980s, policy makers and regulators in a number of countries have liberalized, restructured or "deregulated their electric power sector, typically by introducing competition at the generation and retail level. These experiments have resulted in vastly different outcomes - some highly encouraging, others utterly disastrous. However, many countries continue along the same path for a variety of reasons. Electricity Market Reform examines the most important competitive electricity markets around the world and provides definitive answers as to why some markets have performed admirably, while others have utterly failed, often with dire financial and cost consequences. The lessons contained within are direct relevance to regulators, policy makers, the investment community, industry, academics and graduate students of electricity markets worldwide. - Covers electicity market liberalization and deregulation on a worldwide scale - Features expert contributions from key people within the electricity sector

Competitive Electricity Markets

Author : Fereidoon Sioshansi
Publisher : Elsevier
ISBN 13 : 0080557716
Total Pages : 625 pages
Book Rating : 4.0/5 (85 download)

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Book Synopsis Competitive Electricity Markets by : Fereidoon Sioshansi

Download or read book Competitive Electricity Markets written by Fereidoon Sioshansi and published by Elsevier. This book was released on 2011-10-10 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the international experience suggests that in nearly all cases, initial market reform leads to unintended consequences or introduces new risks, which must be addressed in subsequent “reform of the reforms. Competitive Electricity Markets describes the evolution of the market reform process including a number of challenging issues such as infrastructure investment, resource adequacy, capacity and demand participation, market power, distributed generation, renewable energy and global climate change. Sequel to Electricity Market Reform: An International Perspective in the same series published in 2006 Contributions from renowned scholars and practitioners on significant electricity market design and implementation issues Covers timely topics on the evolution of electricity market liberalization worldwide

Competition in Electricity Markets

Author : Carlos Ocaña
Publisher : OECD
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Competition in Electricity Markets by : Carlos Ocaña

Download or read book Competition in Electricity Markets written by Carlos Ocaña and published by OECD. This book was released on 2001 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the development of choice and competition in the Electricity Supply Industry (ESI). Drawing on a review of the international experience, it describes the main approaches that are being developed, discusses the key issues in the effective reform of electricity markets and provides an assessment of the emerging approach to reform. The book is written from the perspective of regulators and policy makers. It seeks to answer the question: what is an effective regulatory framework for competition in electricity markets?

Making Competition Work in Electricity

Author : Sally Hunt
Publisher : John Wiley & Sons
ISBN 13 : 0471266027
Total Pages : 467 pages
Book Rating : 4.4/5 (712 download)

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Book Synopsis Making Competition Work in Electricity by : Sally Hunt

Download or read book Making Competition Work in Electricity written by Sally Hunt and published by John Wiley & Sons. This book was released on 2002-10-01 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: An expert's perspective on how competition can make this industry work. There has never been a coherent plan to restructure the electricity industry in the USâ??until now. Power expert Sally Hunt gets down to the critical lessons learned from the California power crisis and other deregulated markets, in which competition has been introduced properly and successfully. Hunt presents sensible solutions to power market reform that have been cultivated over her twenty years of professional work in the industry. Sally Hunt (New York, NY) spent twenty years at National Economic Research Associates, where she was head of NERA's U.S. energy practice and a member of the board. Coauthor of Competition and Choice in Electricity with Graham Shuttleworth (0471957828), she has served as Corporate Economist at Con Edison, Deputy Director of the New York City Energy Office, and Assistant Administrator of the New York City Environmental Protection Administration. Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management,asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.

Electricity Reform in Europe

Author : Jean-Michel Glachant
Publisher : Edward Elgar Publishing
ISBN 13 : 1848446055
Total Pages : 383 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis Electricity Reform in Europe by : Jean-Michel Glachant

Download or read book Electricity Reform in Europe written by Jean-Michel Glachant and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: . . . this volume comes across as one of the most profound sources on the specifics of European electricity market restructuring. Competition and Regulation in Network Industries The SESSA study on the Internal Energy Market was an important and influential contribution towards the Commission s proposal for a third package of proposals, intending to bring more effective competition and better security of supply to Europe s energy markets. This volume, based on the results of the study is an important and welcome contribution to the ongoing debate on these proposals. Andris Piebalgs, Commissioner for Energy at the European Commission The chapters in this book are written by the leading European scholars who have studied the structure, behavior and performance of liberalised electricity markets in many European countries as well as in other regions of the world. Both the analyses and the policy recommendations contained in this volume are well worth careful consideration by policymakers in Europe, as well as by policymakers in other countries that are seeking to adopt successful electricity sector liberalisation programs. From the foreword by Paul L. Joskow, Massachusetts Institute of Technology, US Dynamism or dissipation? Competition or national champions? Will enlargement promote or delay reform? Energy economists contemplate the challenges posed by the restless and discontent European Commission. Stephen Littlechild, University of Birmingham and Judge Institute for Management Studies, University of Cambridge, UK The challenge of European electricity reform is being met, although gradually, delays notwithstanding. This book provides precious help in spotting where the necessary further efforts should be directed. In the US mistakes and delays have occurred, no less than in Europe, but an aggressive federal regulator (absent in Europe) is working to overcome them. Electricity markets do not happen, they have to be built. Here are suggestions for a workable European market design. No ideology, just competence and wisdom from both theory and experience. Will Europe learn? Pippo Ranci, Università Cattolica del Sacro Cuore, Italy The realisation of a European internal market for energy is still a work in progress. Written by leading European scholars and discussed with major energy stakeholders, this book presents a thorough analysis of the motives and methods needed to achieve a single European energy market. The authors discuss the critical issues surrounding an internal European energy market including: market design, competition and market power, sustainable energy versus the market, regulation and harmonisation, benchmarking and indicators, modelling of competition, market prices and energy forecasts. They provide a multi-disciplinary assessment of the best way to build the market base of a future European energy policy. Electricity Reform in Europe will be of great interest to decision makers and managers in the energy industry or business sector as they will be able to see the whole European energy policy picture beyond their own corporate interests. The book will also appeal to national and European energy administrations, regulatory bodies and policy makers providing a synthesis of all relevant policy issues.

Handbook on Electricity Markets

Author : Glachant, Jean-Michel
Publisher : Edward Elgar Publishing
ISBN 13 : 1788979958
Total Pages : 672 pages
Book Rating : 4.7/5 (889 download)

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Book Synopsis Handbook on Electricity Markets by : Glachant, Jean-Michel

Download or read book Handbook on Electricity Markets written by Glachant, Jean-Michel and published by Edward Elgar Publishing. This book was released on 2021-11-12 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.

Economic Regulation and Its Reform

Author : Nancy L. Rose
Publisher : University of Chicago Press
ISBN 13 : 022613816X
Total Pages : 619 pages
Book Rating : 4.2/5 (261 download)

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Book Synopsis Economic Regulation and Its Reform by : Nancy L. Rose

Download or read book Economic Regulation and Its Reform written by Nancy L. Rose and published by University of Chicago Press. This book was released on 2014-08-29 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.

Electricity Market Reform

Author : Caroline Varley
Publisher : OECD/IEA
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Electricity Market Reform by : Caroline Varley

Download or read book Electricity Market Reform written by Caroline Varley and published by OECD/IEA. This book was released on 1999 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This booklet gives an introduction to the issues raised by regulatory reform of the electricity sector. The sector is undergoing change worldwide.

Rethinking Power Sector Reform in the Developing World

Author : Vivien Foster
Publisher : World Bank Publications
ISBN 13 : 1464814430
Total Pages : 482 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Rethinking Power Sector Reform in the Developing World by : Vivien Foster

Download or read book Rethinking Power Sector Reform in the Developing World written by Vivien Foster and published by World Bank Publications. This book was released on 2019-12-05 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the 1990s, a new paradigm for power sector reform was put forward emphasizing the restructuring of utilities, the creation of regulators, the participation of the private sector, and the establishment of competitive power markets. Twenty-five years later, only a handful of developing countries have fully implemented these Washington Consensus policies. Across the developing world, reforms were adopted rather selectively, resulting in a hybrid model, in which elements of market orientation coexist with continued state dominance of the sector. This book aims to revisit and refresh thinking on power sector reform approaches for developing countries. The approach relies heavily on evidence from the past, drawing both on broad global trends and deep case material from 15 developing countries. It is also forward looking, considering the implications of new social and environmental policy goals, as well as the emerging technological disruptions. A nuanced picture emerges. Although regulation has been widely adopted, practice often falls well short of theory, and cost recovery remains an elusive goal. The private sector has financed a substantial expansion of generation capacity; yet, its contribution to power distribution has been much more limited, with efficiency levels that can sometimes be matched by well-governed public utilities. Restructuring and liberalization have been beneficial in a handful of larger middle-income nations but have proved too complex for most countries to implement. Based on these findings, the report points to three major policy implications. First, reform efforts need to be shaped by the political and economic context of the country. The 1990s reform model was most successful in countries that had reached certain minimum conditions of power sector development and offered a supportive political environment. Second, countries found alternative institutional pathways to achieving good power sector outcomes, making a case for greater pluralism. Among the top performers, some pursued the full set of market-oriented reforms, while others retained a more important role for the state. Third, reform efforts should be driven and tailored to desired policy outcomes and less preoccupied with following a predetermined process, particularly since the twenty-first-century century agenda has added decarbonization and universal access to power sector outcomes. The Washington Consensus reforms, while supportive of the twenty-first-century century agenda, will not be able to deliver on them alone and will require complementary policy measures

Evolution of Global Electricity Markets

Author : Fereidoon Sioshansi
Publisher : Academic Press
ISBN 13 : 0123979064
Total Pages : 867 pages
Book Rating : 4.1/5 (239 download)

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Book Synopsis Evolution of Global Electricity Markets by : Fereidoon Sioshansi

Download or read book Evolution of Global Electricity Markets written by Fereidoon Sioshansi and published by Academic Press. This book was released on 2013-06-10 with total page 867 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get the latest on rapidly evolving global electricity markets direct from the scholars andthought leaders who are shaping reform. In this volume, dozens of world-class expertsfrom diverse regions provide a comprehensive assessment of the relevant issues intoday's electricity markets. Amid a seething backdrop of rising energy prices, concerns about environmentaldegradation, and the introduction of distributed sources and smart grids, increasinglystringent demands are being placed on the electric power sector to provide a morereliable, efficient delivery infrastructure, and more rational, cost-reflective prices. Thisbook maps out the electric industry's new paradigms, challenges and approaches,providing invaluable global perspective on this host of new and pressing issues beinginvestigated by research institutions worldwide. Companies engaged in the powersector's extensive value chain including utilities, generation, transmission & distributioncompanies, retailers, suppliers, regulators, market designers, and the investment &financial rating community will benefit from gaining a more nuanced understanding ofthe impacts of key market design and restructuring choices. How can problems beavoided? Why do some restructured markets appear to function better than others?Which technological implementations represent the best investments? Whichregulatory mechanisms will best support these new technologies? What lessons canbe learned from experiences in Norway, Australia, Texas, or the U.K.? Thesequestions and many more are undertaken by the brightest minds in the industry in thisone comprehensive, cutting-edge resource. - Features a unique global perspective from more than 40 recognized experts and scholars around the world, offering opportunities to compare and contrast a wide range of market structures - Analyzes how the implementation of existing and developing market designs impacts real-world issues such as pricing and reliability - Explains the latest thinking on timely issues such as current market reform proposals, restructuring, liberalization, privatization, capacity and energy markets, distributed and renewable energy integration, competitive generation and retail markets, and disaggregated vs. vertically integrated systems

Markets for Power

Author : Paul L. Joskow
Publisher : MIT Press (MA)
ISBN 13 : 9780262600187
Total Pages : 269 pages
Book Rating : 4.6/5 (1 download)

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Book Synopsis Markets for Power by : Paul L. Joskow

Download or read book Markets for Power written by Paul L. Joskow and published by MIT Press (MA). This book was released on 1988-08-01 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely study evaluates four generic proposals for allowing free market forces toreplace government regulation in the electric power industry and concludes that none of thederegulation alternatives considered represents a panacea for the performance failures associatedwith things as they are now. It proposes a balanced program of regulatory reform and deregulationthat promises to improve industry performance in the short run, resolve uncertainties about thecosts and benefits of deregulation, and positions the industry for more extensive deregulation inthe long run should interim experimentation with deregulation, structural, and regulatory reformsmake it desirable.The book integrates modern microeconomic theory with a comprehensive analysis ofthe economic, technical, and institutional characteristics of modern electrical power systems. Itemphasizes that casual analogies to successful deregulation efforts in other sectors of the economyare an inadequate and potentially misleading basis for public policy in the electric power industry,which has economic and technical characteristics that are quite different from those in otherderegulated industries.Paul L. Joskow is Professor of Economics at MIT, author of ControllingHospital Costs (MIT Press 1981) and coauthor with Martin L. Baughman and Dilip P. Kamat of ElectricPower in the United States (MIT Press 1979). Richard Schmalensee, also at MIT, is Professor ofApplied Economics, author of The Economics of Advertising and The Control of Natural Monopolies, andeditor of The MIT Press Series, Regulation of Economic Activity.

Making Energy Markets

Author : Ronan Bolton
Publisher : Springer Nature
ISBN 13 : 3030900754
Total Pages : 367 pages
Book Rating : 4.0/5 (39 download)

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Book Synopsis Making Energy Markets by : Ronan Bolton

Download or read book Making Energy Markets written by Ronan Bolton and published by Springer Nature. This book was released on 2022-02-01 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Making Energy Markets charts the emergence and early evolution of electricity markets in western Europe, covering the decade from the late 1980s to the late 1990s. Liberalising electricity marked a radical deviation from the established paradigm of state-controlled electricity systems which had become established across Europe after the Second World War. By studying early liberalisation processes in Britain and the Nordic region, and analysing the role of the EEC, the book shows that the creation of electricity markets involved political decisions about the feasibility and desirability of introducing competition into electricity supply industries. Competition introduced risks, so in designing the process politicians needed to evaluate who the likely winners and losers might be and the degree to which competition would impact key national industries reliant on cross-subsidies from the electricity sector, in particular coal mining, nuclear power and energy intensive production. The book discusses how an understanding of the origins of electricity markets and their political character can inform contemporary debates about renewables and low carbon energy transitions.

Regulation of the Power Sector

Author : Ignacio J. Pérez-Arriaga
Publisher : Springer Science & Business Media
ISBN 13 : 1447150341
Total Pages : 735 pages
Book Rating : 4.4/5 (471 download)

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Book Synopsis Regulation of the Power Sector by : Ignacio J. Pérez-Arriaga

Download or read book Regulation of the Power Sector written by Ignacio J. Pérez-Arriaga and published by Springer Science & Business Media. This book was released on 2014-02-26 with total page 735 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation of the Power Sector is a unified, consistent and comprehensive treatment of the theories and practicalities of regulation in modern power-supply systems. The need for generation to occur at the time of use occasioned by the impracticality of large-scale electricity storage coupled with constant and often unpredictable changes in demand make electricity-supply systems large, dynamic and complex and their regulation a daunting task. Arranged in four parts, this book addresses both traditional regulatory frameworks and also liberalized and re-regulated environments. First, an introduction gives a full characterization of power supply including engineering, economic and regulatory viewpoints. The second part presents the fundamentals of regulation and the third looks at the regulation of particular components of the power sector in detail. Advanced topics and subjects still open or subject to dispute form the content of Part IV. In a sector where regulatory design is the key driver of both the industry efficiency and the returns on investment, Regulation of the Power Sector is directed at regulators, policy decision makers, business managers and researchers. It is a pragmatic text, well-tested by the authors’ quarter-century of experience of power systems from around the world. Power system professionals and students at all levels will derive much benefit from the authors’ wealth of blended theory and real-world-derived know-how.

The Economics of Electricity Markets

Author : Darryl R. Biggar
Publisher : John Wiley & Sons
ISBN 13 : 1118775724
Total Pages : 493 pages
Book Rating : 4.1/5 (187 download)

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Book Synopsis The Economics of Electricity Markets by : Darryl R. Biggar

Download or read book The Economics of Electricity Markets written by Darryl R. Biggar and published by John Wiley & Sons. This book was released on 2014-07-10 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concerns. The book covers the basic modelling of electricity markets, including the impact of uncertainty (an integral part of generation investment decisions and transmission cost-benefit analysis). It draws out the parallels to the Nordpool market (an important point of reference for Europe). Written from the perspective of the policy-maker, the first part provides the introductory background knowledge required. This includes an understanding of basic economics concepts such as supply and demand, monopoly, market power and marginal cost. The second part of the book asks how a set of generation, load, and transmission resources should be efficiently operated, and the third part focuses on the generation investment decision. Part 4 addresses the question of the management of risk and Part 5 discusses the question of market power. Any power system must be operated at all times in a manner which can accommodate the next potential contingency. This demands responses by generators and loads on a very short timeframe. Part 6 of the book addresses the question of dispatch in the very short run, introducing the distinction between preventive and corrective actions and why preventive actions are sometimes required. The seventh part deals with pricing issues that arise under a regionally-priced market, such as the Australian NEM. This section introduces the notion of regions and interconnectors and how to formulate constraints for the correct pricing outcomes (the issue of "constraint orientation"). Part 8 addresses the fundamental and difficult issue of efficient transmission investment, and finally Part 9 covers issues that arise in the retail market. Bridges the gap between engineering and economics in electricity, covering both the economics and engineering knowledge needed to accurately understand, plan and develop the electricity market Comprehensive coverage of all the key topics in the economics of electricity markets Covers the latest research and policy issues as well as description of the fundamental concepts and principles that can be applied across all markets globally Numerous worked examples and end-of-chapter problems Companion website holding solutions to problems set out in the book, also the relevant simulation (GAMS) codes

The Evolution of Electricity Markets in Europe

Author : Leonardo Meeus
Publisher : Edward Elgar Publishing
ISBN 13 : 1789905478
Total Pages : 193 pages
Book Rating : 4.7/5 (899 download)

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Book Synopsis The Evolution of Electricity Markets in Europe by : Leonardo Meeus

Download or read book The Evolution of Electricity Markets in Europe written by Leonardo Meeus and published by Edward Elgar Publishing. This book was released on 2020-11-27 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridging theory and practice, this book offers insights into how Europe has experienced the evolution of modern electricity markets from the end of the 1990s to the present day. It explores defining moments in the process, including the four waves of European legislative packages, landmark court cases, and the impact of climate strikes and marches.

Economics of Electricity

Author : Anna Cretì
Publisher : Cambridge University Press
ISBN 13 : 1107185653
Total Pages : 369 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis Economics of Electricity by : Anna Cretì

Download or read book Economics of Electricity written by Anna Cretì and published by Cambridge University Press. This book was released on 2019-05-30 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the economics of electricity at each step of the supply chain: production, transportation and distribution, and retail.

Power Markets and Economics

Author : Barrie Murray
Publisher : John Wiley & Sons
ISBN 13 : 9780470743010
Total Pages : 324 pages
Book Rating : 4.7/5 (43 download)

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Book Synopsis Power Markets and Economics by : Barrie Murray

Download or read book Power Markets and Economics written by Barrie Murray and published by John Wiley & Sons. This book was released on 2009-02-25 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is now almost twenty years since liberalisation and the introduction of competition was proposed for electricity utilities. Some form of restructuring has been widely adopted around the world to suit local objectives. The industry now faces new challenges associated with global warming, rising prices and escalating energy demand from developing countries like China and India. The industry will have to cope with; managing emissions; managing variable energy sources like wind, dev eloping clean coal technology; accommodating distributed generation and new nuclear stations and managing the impact of these developments on the distribution and transmission networks. It is now necessary to consider how the various market structures that were adopted have performed and how they will address some of these new issues and what further changes might be necessary. This volume presents an all-inclusive analysis of the electricity market structures that have been adopted around the world and how they are performing. It provides an up-to-date analysis of the cost of competing technologies, the operation of energy and ancillary service markets and the impact of renewable sources and emission restrictions. It takes a forward look at likely future developments necessary to cope with the new emerging issues. Part One introduces industry infrastructure, analysing state utilities, the motives behind liberalisation and the resulting structures. Part Two considers generation costs, including renewable generation costs, and investigates the cost of restricting emissions as well as transmission and distribution costs. Part Three discusses market operation, describing how costs affect the organisation of power generation. It covers trading arrangements, ancillary services, international trading and investment. Part Four looks to future markets and technological developments that will shape the industry through the next twenty years. This includes the appraisal of investment opportunities for global power companies and implications for market performance. Written by an internationally renowned consultant engineer, this book is full of expert insight and balances fundamental methodology and academic theory with practical information and diverse worked examples. This is an excellent reference on the topic for power system engineers, regulators, banks, investors, and government energy agencies. With its many worked examples, it is also a brilliant tutorial accessible for postgraduates and senior undergraduates in electrical and power engineering.