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Power Markets and Economics

Energy Costs, Trading, Emissions

Barrie Murray

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Naturwissenschaften, Medizin, Informatik, Technik / Wärme-, Energie- und Kraftwerktechnik


It is now almost twenty years since liberalisation and theintroduction of competition was proposed for electricity utilities.Some form of restructuring has been widely adopted around the worldto suit local objectives. The industry now faces new challengesassociated with global warming, rising prices and escalating energydemand from developing countries like China and India. The industrywill have to cope with; managing emissions; managing variableenergy sources like wind, dev eloping clean coal technology;accommodating distributed generation and new nuclear stations andmanaging the impact of these developments on the distribution andtransmission networks. It is now necessary to consider how thevarious market structures that were adopted have performed and howthey will address some of these new issues and what further changesmight be necessary. This volume presents an all-inclusive analysis of theelectricity market structures that have been adopted around theworld and how they are performing. It provides an up-to-dateanalysis of the cost of competing technologies, the operation ofenergy and ancillary service markets and the impact of renewablesources and emission restrictions. It takes a forward look atlikely future developments necessary to cope with the new emergingissues. * Part One introduces industry infrastructure, analysing stateutilities, the motives behind liberalisation and the resultingstructures. * Part Two considers generation costs, including renewablegeneration costs, and investigates the cost of restrictingemissions as well as transmission and distribution costs. * Part Three discusses market operation, describing how costsaffect the organisation of power generation. It covers tradingarrangements, ancillary services, international trading andinvestment. * Part Four looks to future markets and technologicaldevelopments that will shape the industry through the next twentyyears. This includes the appraisal of investment opportunities forglobal power companies and implications for marketperformance. Written by an internationally renowned consultant engineer, thisbook is full of expert insight and balances fundamental methodologyand academic theory with practical information and diverse workedexamples. This is an excellent reference on the topic for power systemengineers, regulators, banks, investors, and government energyagencies. With its many worked examples, it is also a brillianttutorial accessible for postgraduates and senior undergraduates inelectrical and power engineering.


?This is a remarkable book which provides essential data for anyinformed discussion of this vital problem that is so oftendominated by ill-informed debate.? (Oxford Prospect, August2009)
(Engineering and Technology, May 2009)
"Murray's overview of the link between engineering and economicsin the energy sector provides a timely look at the big challengefor the global power industry.... [It] provides a sound bases foranyone involved in the wider debate on how the market should beshaped."
(Engineering and Technology, May2009)
"Murray's overview of the link between engineering andeconomics in the energy sector provides a timely look at the bigchallenge for the global power industry ? .[It] provides a soundbases for anyone involved in the wider debate on how the marketshould be shaped."
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Energy, Finance & Investments, Financial Engineering, Energy Economics & Policy, Finanz- u. Anlagewesen, Energie, Energiewirtschaft u. -politik, Power Technology & Power Engineering, Energietechnik, Finanztechnik