“The author presents a thorough description of the different market models and a perfect view of the modern competitive electricity sector, living and permanently changing.”
―Vidmantas Jankauskas, Chairman, ERRA (Energy Regulators Regional Association).
“This book is the first of its kind to bring together the structure of electricity markets, the behavior of market participants, environmental factors, regulation and policy, and analyze their combined impact on electricity prices. It also addresses some of the most important issues currently facing marketing and trading practitioners, namely the pricing of wholesale derivatives and power plant economics. Chris Harris has delivered some of the most interesting talks on the conference circuit for years and his enthusiasm for his subject material shines through in this book.”
―Dr Chris Strickland, Director, Lacima Group
From the Back Cover
Over the last three decades, the global expectations for abundant, cheap and reliable energy have driven the growth in demand, and this is challenging the ability to cheaply exploit the accessible energy sources, and to minimise environmental pressure. At the same time, in concert with similar changes in other industries, deregulation and privatisation have continued apace.
To enable them to contend with the daily process of generation, dispatch and supply, the electricity markets have risen to new levels of sophistication and complexity. Continued advances are required to effectively contend with issues such as demand management, environmental efficiency and security of supply. In addition, policy makers and regulators have a commitment to underwrite the performance of the industry model, and to intervene as necessary in structures, instruments and conditions.
The relationship between policy objectives, free markets, and the technicalities of electricity production, network flow, supply and consumption, is not a simple one. In this context the book relates electricity market structures, economics for electricity, and derivative pricing of electricity. It is intended as a companion for all those with an interest in the electricity supply industry, including participants, traders, students, stakeholders, and policy makers and implementers.
About the Author
CHRIS HARRIS is head of industry, networks and agreements in the retail division of RWE npower in the UK and has held senior positions in the generation and trading sectors of the Electricity Supply Industry. Previously he was a quantitative analyst, managing director of global derivative trading, and director of marketing in the capital markets. He has advised utilities in different parts of the world in the organisation and operation of their businesses, to align to, and optimise in, the structure of their respective electricity markets.
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