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Practical nature of the text takes the reader outside the realm of economic theory and into the real-world of energy regulation
Covers all aspects of the regulation of energy-supply with examples from Europe and the US
Deals with advanced topics such as supranational regional power systems and aspects of environmental regulation of vital current interest
Regulation of the Power Sector is a unified, consistent and comprehensive treatment of the theories and practicalities of regulation in modern power-supply systems. The need for generation to occur at the time of use occasioned by the impracticality of large-scale electricity storage coupled with constant and often unpredictable changes in demand make electricity-supply systems large, dynamic and complex and their regulation a daunting task.
Conceptually arranged in four parts, this book addresses both traditional regulatory frameworks and also liberalized and re-regulated environments. First, an introduction gives a full characterization of power supply including engineering, economic and regulatory viewpoints. The second part presents the fundamentals of regulation and the third looks at the regulation of particular components of the power sector in detail. Advanced topics and subjects still open or subject to dispute form the content of the fourth part.
In a sector where regulatory design is the key driver of both the industry efficiency and the returns on investment, Regulation of the Power Sector is directed at regulators, policy decision makers, business managers and researchers. It is a pragmatic text, well-tested by the authors’ quarter-century of experience of power systems from around the world. Power system professionals and students at all levels will derive much benefit from the authors’ wealth of blended theory and real-world-derived know-how.
Part I: Introduction and Background.- Technological Aspects of Power Systems.- Industrial Structure and Organization of the Power Sector.- An Introduction to Power System Economics.- Part II: The Theory of Regulation.- Electricity Regulation: Principles and Institutions.- Regulations of Monopolies.- Regulation of Markets.- Part III: The Practice of Regulation.- Wholesale Electricity Markets.- Transmission.- Distribution.- Tariffs.- Retail Electricity Markets.- Advanced Topics.- Environmental Regulation in the Power Sector.- Electricity and Gas.- Open Issues in the Regulation of the Power Sector.