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Full Description
A lucid and up-to-date introduction to understanding electrical power utilities in an era of change Electric utilities worldwide are undergoing profound transformations: nationally owned systems are becoming privatized, privately owned systems that were previously regulated are becoming deregulated, and national systems are becoming international.
Professionals in the power sector must now work in a new world in which an understanding of the principles of markets and how to evaluate investment projects under competition are essential.
This text was written as a manual for the Russian Federal Energy Commission to train regional electricity rate regulators in the principles of economics and finance involved in regulating electricity markets and deregulating electricity generation. Requiring no familiarity with economics and using a minimum of mathematics, this book provides professionals in the power sector with the tools to face the new realities of electric utility operation.
Designed both as a reference for practicing professionals and as a textbook for university and continuing education programs, Electricity Economics: Regulation and Deregulation discusses:
The lessons learned from international experiences
Competitive versus noncompetitive markets
Cost and supply, profit, and economic efficiency
The cost of capital, including net present value, discounting, and risk and return
Wholesale power markets, generation expansion, and customer choice
Specific international examples including the Californian, Norwegian, Spanish, and Argentine power sectors
Plus numerous exercises to help clarify and support absorption of the concepts
Contents
Preface. Nomenclature.
Electricity Regulation and Deregulation.
Electricity Economics.
The Cost of Capital.
Electricity Regulation.
Competitive Electricity Markets.
The California Power Sector (Ryan Wiser, et al.).
The Norwegian and Nordic Power Sectors (Helle Grønli).
The Spanish Power Sector.
The Argentine Power Sector.
Glossary.
References.
Author Index.
Subject Index.
About the Authors.
