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
Table of Contents
- Cover image
- Title page
- Table of Contents
- About the Authors
Part I: The Evolution of European Electricity Markets
- Chapter 1. Evolution of the British Electricity Market and the Role of Policy for the Low-Carbon Future
- Chapter 2. Electricity Market Reform in Britain: Central Planning Versus Free Markets
Chapter 3. The French Paradox: Competition, Nuclear Rent, and Price Regulation
- 1 Introduction
- 2 Abbreviated History of French Electricity Sector
- 3 The Different Stages of the Liberalization of Electricity in Europe
- 4 Nuclear Differential Rent and Scarcity Rent Must Not Be Confused
- 5 Sharing the “Nuclear Scarcity Rent”: The ARENH Mechanism
- 6 ARENH and Current Cost of Nuclear Not to Be Confused
- 7 The French Nuclear Debate
- 8 Conclusions
- Chapter 4. Turnaround in Rough Sea—Electricity Market in Germany
- Chapter 5. The Growing Impact of Renewable Energy in European Electricity Markets
- Chapter 6. Renewable Energy, Efficient Electricity Networks, and Sector-Specific Market Power Regulation
- Chapter 7. From Niche to Mainstream: The Evolution of Renewable Energy in the German Electricity Market
- Chapter 8. The Challenges of Electricity Market Regulation in the European Union
Part II: The Evolution of Electricity Markets in The Americas
- Chapter 9. The Evolution of the PJM Capacity Market: Does It Address the Revenue Sufficiency Problem?
- Chapter 10. Texas Electricity Market: Getting Better
- Chapter 11. From the Brink of Abyss to a Green, Clean, and Smart Future: The Evolution of California’s Electricity Market
- Chapter 12. Unfinished Business: The Evolution of US Competitive Retail Electricity Markets
- Chapter 13. Fragmented Markets: Canadian Electricity Sectors’ Underperformance
- Chapter 14. Latin America Energy Integration: An Outstanding Dilemma
Part III: The Evolution of BRICs Electricity Markets
- Chapter 15. The Evolution of Brazilian Electricity Market
Chapter 16. The Russian Electricity Market Reform: Toward the Reregulation of the Liberalized Market?
- 1 Introduction
- 2 The Unified Power System of the Russian Federation
- 3 Restructuring of Russia’s Electricity Industry
- 4 The Privatization Process: Toward the Reconsolidation of State Ownership?
- 5 The Liberalization Reform: Toward the Reregulation of Liberalized Prices?
- 6 Transition Toward Low Carbon Electricity Production
- 7 Conclusion
- Chapter 17. Not Seeing the Wood for the Trees? Electricity Market Reform in India
- Chapter 18. Reform Postponed: The Evolution of China’s Electricity Markets
Part IV: The Evolution of Electricity Markets in Australasia
- Chapter 19. Evolution of Australia’s National Electricity Market
Chapter 20. Is Electricity Industry Reform the Right Answer to the Wrong Question? Lessons from Australian Restructuring and Climate Policy
- 1 Introduction
- 2 Electricity Industry Objectives and Restructuring
- 3 The Australian Electricity Industry: Microeconomic Reform Versus Ecological Sustainable Development
- 4 The Australian NEM
- 5 Has Australian Electricity Industry Restructuring Directly Assisted Environmental Objectives?
- 6 Has the NEM Effectively Facilitated External Climate Policies?
- 7 Has Australian Electricity Restructuring Inherently Worked Against Improved Environmental Outcomes?
- 8 Possible Ways Forward for Australia
- 9 Conclusion
- Chapter 21. Weak Regulation, Rising Margins, and Asset Revaluations: New Zealand’s Failing Experiment in Electricity Reform
- Chapter 22. The Korean Electricity Market: Stuck in Transition
- Chapter 23. After Fukushima: The Evolution of Japanese Electricity Market
- Chapter 24. The Singapore Electricity Market: From Partial to Full Competition
- Chapter 25. Market Design for the Integration of Variable Generation
- Electricity Reforms 20 Years Later: The Five Big Unforeseen Developments
- First Big Unforeseen: Generation Mix
- Second Big Unforeseen: Network Neutrality
- Third Big Unforeseen: Market Design
- Fourth Big Unforeseen: Market Integrity
- Fifth Big Unforeseen: Dual Fuel Complementarity
- A Sixth in the Big 5?
- Title: Evolution of Global Electricity Markets
- Release date: June 2013
- Publisher(s): Academic Press
- ISBN: 9780123978912