The impact of deregulation on the theory and practice of investment appraisal is addressed in this comprehensive treatment of the restructuring of the electricity supply industry. Demonstrating that the classical approach to generation investment appraisal is no longer valid, a new approach is developed using three economic models to represent differing market conditions. Highlighting the impact on the organisation of the utilities and their suppliers, Electricity Markets offers essential advice for survival in the deregulated environment worldwide. Features include:
* Examination of...

Power Markets and Economics examines electricity markets around the world focusing on appropriate market structures and mechanisms, forecasting and investment opportunities. The book starts by introduces the industry infrastructure, analysing state utilities and the motives behind liberalisation and the resulting structures.

With the growth in renewable energy (RE) generation installed capacity, many countries such as the UK are relying on higher levels of RE generation to meet targets for reduced greenhouse gas emissions. In the face of this, the integration issue is now of increasing concern, in particular to system operators.

This updated text describes the individual renewable technologies and their power generation characteristics alongside an expanded introduction to power systems and the challenges posed by high levels of penetrations from such technologies.

Features of this edition:...