Handbook on Electricity Markets

With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published. It covers all dimensions of electricity markets: wholesale and retail; renewable electricity sources; the electrification of mobility, heating and cooling; and recent innovations such as distributed generation, electrical energy storage, demand response and digital platforms that are disrupting the industry. The benefits, as well as the limits, of open markets and competition are assessed at the level of underlying principles and with reference to specific cases, including the UK, PJM Interconnection, Texas, Australia, Scandinavia, continental Europe and China. The details of electricity market designs are analysed and discussed. The book also considers new emerging business models, as well as the impact of electricity sector policy priorities such as universal access and deep decarbonization. This Handbook is intended to be used and useful. Students and young professionals will find the information they need to enter the field. Researchers, experienced professionals and public decision-makers will get a comprehensive update on the topical issues in electricity markets that will guide them through the important developments the sector is witnessing.