Abstract

Get the latest on rapidly evolving global electricity markets direct from the scholars and thought leaders who are shaping reform. In this volume, dozens of world-class experts from diverse regions provide a comprehensive assessment of the relevant issues in today’s electricity markets.

Amid a seething backdrop of rising energy prices, concerns about environmental degradation, and the introduction of distributed sources and smart grids, increasingly stringent demands are being placed on the electric power sector to provide a more reliable, efficient delivery infrastructure, and more rational, cost-reflective prices. This book maps out the electric industry’s new paradigms, challenges and approaches, providing invaluable global perspective on this host of new and pressing issues being investigated by research institutions worldwide. Companies engaged in the power sector’s extensive value chain including utilities, generation, transmission & distribution companies, retailers, suppliers, regulators, market designers, and the investment & financial rating community will benefit from gaining a more nuanced understanding of the impacts of key market design and restructuring choices. How can problems be avoided? Why do some restructured markets appear to function better than others? Which technological implementations represent the best investments? Which regulatory mechanisms will best support these new technologies? What lessons can be learned from experiences in Norway, Australia, Texas, or the U.K.? These questions and many more are undertaken by the brightest minds in the industry in this one 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

"…meant as an update of the 2006 volume…partly to take account of the passage of time and partly to cover new issues and priorities… the best way to view this book is as a collection of self-contained essays, each of which has something to teach us…"--Economics of Energy and Environmental Policy, February 2014 "It has been compiled in order to take stock of the numerous changes in international electricity markets since 2006, notably the considerable decline in enthusiasm for market-oriented reforms stemming from the poor performance of various reform projects and the 2000/2001 electricity crisis in California, as well as emergent issues related to low-carbon energy, renewable energy, energy efficiency, distributed generation, and demand participation."--Reference & Research Book News, October 2013 "What is clear is the new and existing issues impacting how electricity market develop still have some way to play out––and that is before the next set of issues come along. In that context this collection provides valuable insights into the issues policy makers, regulators and market participants are currently grappling with."--Energy Spectrum, September 30, 2013