Journal article
Electricity markets: an overview and comparative study
International journal of energy sector management, Vol.5(2), pp.169-200
06/28/2011
Handle:
https://hdl.handle.net/2376/112999
Abstract
Purpose - The electric power industry has been moving from a regulated monopoly structure to a deregulated market structure in many countries. The purpose of this study is to comprehensively review the existing markets to study advantages, issues involved and lessons learnt to benefit emerging electricity markets.Design methodology approach - The paper employs a comprehensive review of existing competitive electricity market models in USA (California), UK, Australia, Nordic Countries (Norway), and developing country (Chile) to analyze the similarities, differences, weaknesses, and strengths among these markets based on publically available data, literature review and information.Findings - Ongoing or forthcoming electricity sector restructuring activities in some countries can be better designed based on lessons learnt from existing markets and incorporating their own political, technical and economical contexts. A template for design of successful electricity market has also been presented.Research limitations implications - This study is limited to a comparative analysis of five markets and can be extended in the future for other existing and emerging electricity markets.Practical implications - The discussed weaknesses and strengths of existing electricity markets in this study can be practically utilized to improve the electricity industry market structures leading to several social benefits including lower electricity cost.Originality value - The comprehensive review and analysis of five existing markets, physically located in different continents, may be used as an assistance or reference guide to benefit the emerging electricity markets in other countries.
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Details
- Title
- Electricity markets: an overview and comparative study
- Creators
- Anurag K Srivastava - School of Electrical Engineering and Computer Science, Washington State University, Pullman, Washington, USASukumar Kamalasadan - Department of Engineering and Computer Engineering, University of North Carolina, Charlotte, North Carolina, USADaxa Patel - Mississippi State University, Mississippi State, Mississippi, USA and Power Engineers Inc., Anaheim, California, USASandhya Sankar - Mississippi State University, Mississippi State, Mississippi, USAKhalid S Al-Olimat - Electrical and Computer Engineering and Computer Science Department, Ohio Northern University, Ada, Ohio, USA
- Publication Details
- International journal of energy sector management, Vol.5(2), pp.169-200
- Academic Unit
- Electrical Engineering and Computer Science, School of
- Publisher
- Emerald Group Publishing Limited
- Identifiers
- 99900547869101842
- Language
- English
- Resource Type
- Journal article