The Economics of Electricity Markets provides a cutting-edge analysis of the critical issues involved in the design and operation of electricity markets, as well as an assessment of alternative institutional arrangements that have either been implemented or are under discussion in Europe and the US.

The book illustrates how a sound market design can render electricity trading and retailing very much like that of other commodities. Social and political concerns, rather than engineering or economics, are what make electricity markets 'special'.

The expert contributors address a wide set of issues that arise when competition is introduced to the electricity industry, ranging from the design of spot and real-time power markets to alternative approaches to congestion management, from competition policy in wholesale electricity markets to the benefits and costs of retail competition, and from regulatory measures to ensure generation capacity adequacy to the politicization of generation investment decisions as a way of pursuing sustainability targets.

This highly informative book will appeal to academics, students and researchers in the field of advanced energy economics, and will prove essential reading for energy regulators, professionals and executives wishing to explore the theoretical foundations underpinning their day-to-day activities.

Contributors: G. Cervigni, A. Commisso, A. Creti, D. Perekhodtsev, C. Poletti, P. Ranci

About the Author
Edited by Pippo Ranci, Universita Cattolica, Italy and Guido Cervigni, Universita Bocconi, Italy

Reviews
'The Economics of Electricity Markets: Theory and Policy provides an analysis of the critical issues involved in electricity markets and assesses alternate electricity arrangements in Europe and the US, and is a strong recommendation for any collection strong in electricity trading, production and, social and political concerns attached to this industry.' -- The Midwest Book Review
This book will appeal to professionals and academics who wish to understand the organization and operation of electricity markets. It is useful both as general background and as a reference guide to particular institutions . . . The debate over alternative market structures, described in this book, has influenced the design of every wholesale electricity market in the world.' -- Shaun McRae, Journal of Economic Literature



Book Information
ISBN 9780857933959
Author Pippo Ranci
Format Hardback
Page Count 240
Imprint Edward Elgar Publishing Ltd
Publisher Edward Elgar Publishing Ltd