Evolution of Global Electricity Markets: New paradigms, new challenges, new approaches

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 structuresAnalyzes how the implementation of existing and developing market designs impacts real-world issues such as pricing and reliabilityExplains 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

Part I: The Evolution of European Electricity Markets

Chapter 1 Evolution of British electricity market and the role of policy for the low carbon future

Chapter 2 Electricity market reform in Britain: Central planning vs. free markets

Chapter 3 The French paradox: Competition, nuclear rent and price regulation

Chapter 4 Turnaround in rough sea: The German electricity market

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 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 The integration of Latin American energy markets: An outstanding dilemma

Part III: The evolution of BRICs electricity markets 

Chapter 15 Evolution of electricity market in Brazil

Chapter 16 The Russian electricity market reform: Towards the re-regulation of the liberalized

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

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 variable generation