Market Operations in Electric Power Systems

An essential overview of post-deregulation market operations in electrical power systems Until recently the U.S. electricity industry was dominated by vertically integrated utilities. It is now evolving into a distributive and competitive market driven by market forces and increased competition. With electricity amounting to a $200 billion per year market in the United States, the implications of this restructuring will naturally affect the rest of the world. Why is restructuring necessary? What are the components of restructuring? How is the new structure different from the old monopoly? How are the participants strategizing their options to maximize their revenues? What…