This chapter introduces the economic principles that help understand why power systems are structured the way they are: why different electricity generation technologies are needed; why the various components of the power industry (generation, transmission, distribution and retailing) are structured as competitive markets or monopolies; and why they are regulated in different ways in different countries. © Springer-Verlag London Limited 2013.
CITATION STYLE
Ventosa, M., Linares, P., & Pérez-Arriaga, I. J. (2013). Power System Economics. Power Systems, 61, 47–123. https://doi.org/10.1007/978-1-4471-5034-3_2
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