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.
Part I: The Evolution of European Electricity Markets
1-Evolution of British electricity market and the role of policy for the low carbon future
2-Electricity market reform in Britain: Central planning vs. free markets
3The French paradox: Competition, nuclear rent and price regulation
4-Turnaround in rough sea: The German electricity market
5-The growing impact of renewable energy in European electricity markets
6-Renewable energy, efficient electricity networks and sector-specific market power regulation
7-From niche to mainstream: The evolution of renewable energy in the German electricity market
8-The challenges of electricity market regulation in the European Union
Part II: The evolution of electricity markets in Americas
9-The evolution of the PJM capacity market: Does it address the revenue sufficiency problem?
10-Texas electricity market: Getting better
11-From the brink of abyss to a green, clean and smart future: The evolution of Californias electricity market
12-Unfinished business: The evolution of US competitive retail electricity markets
13-Fragmented markets: Canadian electricity sectors' underperformance
14-The integration of Latin American energy markets: An outstanding dilemma
Part III: The evolution of BRICs electricity markets
15-Evolution of electricity market in Brazil
16-The Russian electricity market reform: Towards the re-regulation of the liberalized
17-Not seeing the wood for the trees? Electricity market reform in India
18-Reform postponed: The evolution of Chinas electricity markets
Part IV: The evolution of electricity markets in Australasia
19-Evolution of Australias national electricity market
20-Is electricity industry reform the right answer to the wrong question? Lessons from Australian restructuring and climate policy
21-Weak regulation, rising margins, and asset revaluations: New Zealands failing experiment in electricity reform
22-The Korean electricity market: Stuck in transition
23-After Fukushima: The evolution of Japanese electricity market
24-The Singapore electricity market: From partial to full competition
25-Market design for variable generation