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Some Emerging Challenges in Electricity Markets

Bose, Subhonmesh and Low, Steven H. (2018) Some Emerging Challenges in Electricity Markets. In: Smart Grid Control: Overview and Research Opportunities. Springer , Cham, Switzerland, pp. 29-45. ISBN 978-3-319-98309-7. http://resolver.caltech.edu/CaltechAUTHORS:20180925-152901176

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Abstract

Energy deregulation in the 90s led to the development of power markets in the United States. The Public Utilities Regulatory Policies Act (PURPA) in 1978 laid down the early foundations of deregulation. Subsequent legislations included the Energy Policy Act of 1992 (EPAct92) and FERC Order No. 888 in 1996. They established the rules to “remove impediments to competition in the wholesale bulk power marketplace” by promoting “non-discriminatory transmission services” [1]. These legislations led to the development of two different market architectures in different parts of the US. In one, utility companies established a bilateral market to transact with independent power producers and/or other utilities. In others, a third-party nonprofit facilitator—an Independent System Operator (ISO) or a Regional Transmission Organization (RTO)—was established to mediate between the buyers and the sellers of power at the wholesale level. Our discussion in this article will primarily revolve around the latter.


Item Type:Book Section
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https://doi.org/10.1007/978-3-319-98310-3_2DOIArticle
Additional Information:© 2019 Springer Nature Switzerland AG. First Online: 26 September 2018. We thank Prof. Alejandro D. Domínguez-García, Khaled Alshehri, and Mariola Ndrio at UIUC and Prof. Eilyan Bitar at Cornell for helpful discussions.
Record Number:CaltechAUTHORS:20180925-152901176
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20180925-152901176
Official Citation:Bose S., Low S.H. (2019) Some Emerging Challenges in Electricity Markets. In: Stoustrup J., Annaswamy A., Chakrabortty A., Qu Z. (eds) Smart Grid Control. Power Electronics and Power Systems. Springer, Cham
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:89935
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:25 Sep 2018 23:01
Last Modified:25 Sep 2018 23:01

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