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The Economics of Electricity Markets
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The Economics of Electricity Markets

Theory and Policy

9780857933959 Edward Elgar Publishing
Edited by Pippo Ranci, Università Cattolica, Italy and Guido Cervigni, Università Bocconi, Italy
Publication Date: 2013 ISBN: 978 0 85793 395 9 Extent: 240 pp
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.

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Critical Acclaim
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Contents
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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.
Critical Acclaim
‘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
Contributors
Contributors: G. Cervigni, A. Commisso, A. Creti, D. Perekhodtsev, C. Poletti, P. Ranci
Contents
Contents:

1. Introduction
Pippo Ranci and Guido Cervigni

2. Wholesale Electricity Markets
Guido Cervigni and Dmitri Perekhodtsev

3. Generation Capacity Adequacy
Guido Cervigni, Andrea Commisso and Dmitri Perekhodtsev

4. Congestion Management and Transmission Rights
Dmitri Perekhodtsev and Guido Cervigni

5. Competition Policy in the Electricity Industry
Guido Cervigni and Dmitri Perekhodtsev

6. Retail Competition
Anna Creti and Clara Poletti

7. Climate Change and the Future of the Liberalised Electricity Markets
Guido Cervigni

Index

This title is available for institutional purchase via Elgaronline.

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eISBN: 978 0 85793 396 6
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