Power Markets and Economics

Power Markets and Economics examines electricity markets around the world focusing on appropriate market structures and mechanisms, forecasting and investment opportunities. The book is divided into four parts. The first part introduces the industry infrastructure, analysing state utilities and the motives behind liberalisation and the resulting structures. The second part considers generation costs, including renewable generation costs, and then moves on to investigate the costs of restricting emissions as well as transmission and distribution costs. Part Three looks at market operation, describing how costs affect the organisation of power generation and considering trading arrangements, ancillary services, international trading and investment. In Part Four, the author addresses future developments, the opportunity for market development, the possibilities for global power companies and implications for market performance.