Electricity retailing is the final sale of electricity from generation to the end-use consumer. This is the fourth major step in the electricity delivery process, which also includes generation, transmission and distribution.
In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology. A restructuring of electric power industry at the turn of the 21st century involved replacing the vertically integrated and tightly regulated "traditional" electricity market with multiple competitive markets for electricity generation, transmission, distribution, and retailing. The traditional and competitive market approaches loosely correspond to two visions of industry: the deregulation was transforming electricity from a public service into a tradable good. As of 2020s, the traditional markets are still common in some regions, including large parts of the United States and Canada.
The electric power industry covers the generation, transmission, distribution and sale of electric power to the general public and industry. The commodity sold is actually energy, not power, e.g. consumers pay for kilowatt-hours, power multiplied by time, which is energy. The commercial distribution of electricity started in 1882 when electricity was produced for electric lighting. In the 1880s and 1890s, growing economic and safety concerns lead to the regulation of the industry. What was once an expensive novelty limited to the most densely populated areas, reliable and economical electric power has become an essential aspect for normal operation of all elements of developed economies.
Energy demand management, also known as demand-side management (DSM) or demand-side response (DSR), is the modification of consumer demand for energy through various methods such as financial incentives and behavioral change through education.
Demand response is a change in the power consumption of an electric utility customer to better match the demand for power with the supply. Until the 21st century decrease in the cost of pumped storage and batteries electric energy could not be easily stored, so utilities have traditionally matched demand and supply by throttling the production rate of their power plants, taking generating units on or off line, or importing power from other utilities. There are limits to what can be achieved on the supply side, because some generating units can take a long time to come up to full power, some units may be very expensive to operate, and demand can at times be greater than the capacity of all the available power plants put together. Demand response seeks to adjust the demand for power instead of adjusting the supply.
A negawatt market is a proposed idea of implementation of the demand response that uses an energy market where the commodity traded is a negawatt-hour, a unit of energy saved as a direct result of energy conservation measures.
The Texas electricity market is deregulated, meaning that there is competition in the generation and distribution of electricity. Power generators in the Texas Interconnection, managed by the Electric Reliability Council of Texas, participate in an energy-only electricity market and are compensated only for the electricity they produce. The wholesale generation market was deregulated in 1995 and the distribution market in 1999, with Texas Senate Bill 7. This replaced the prior system in which power was generated and consumed locally by the same utility with one in which retail providers contracted with generators across the state.
In electrical engineering, a load profile is a graph of the variation in the electrical load versus time. A load profile will vary according to customer type, temperature and holiday seasons. Power producers use this information to plan how much electricity they will need to make available at any given time. Teletraffic engineering uses a similar load curve.
Nova Scotia Power Inc. is a vertically integrated electric utility in Nova Scotia, Canada. It is privately owned by Emera and regulated by the provincial government via the Nova Scotia Utility and Review Board (NSUARB). Nova Scotia Power Inc provides electricity to 520,000 residential, commercial and industrial customers in Nova Scotia.
Energy planning has a number of different meanings, but the most common meaning of the term is the process of developing long-range policies to help guide the future of a local, national, regional or even the global energy system. Energy planning is often conducted within governmental organizations but may also be carried out by large energy companies such as electric utilities or oil and gas producers. These oil and gas producers release greenhouse gas emissions. Energy planning may be carried out with input from different stakeholders drawn from government agencies, local utilities, academia and other interest groups.
The electricity policy of Ontario refers to plans, legislation, incentives, guidelines, and policy processes put in place by the Government of the Province of Ontario, Canada, to address issues of electricity production, distribution, and consumption. Policymaking in the electricity sector involves economic, social, and environmental considerations. Ontario's electricity supply outlook is projected to deteriorate in the near future due to increasing demand, aging electricity supply infrastructure, and political commitments, particularly the phase-out of coal-fired generation. Policymakers are presented with a range of policy choices in addressing the situation, both in terms of overall system design and structure, and specific electricity generating technologies.
Load management, also known as demand-side management (DSM), is the process of balancing the supply of electricity on the network with the electrical load by adjusting or controlling the load rather than the power station output. This can be achieved by direct intervention of the utility in real time, by the use of frequency sensitive relays triggering the circuit breakers, by time clocks, or by using special tariffs to influence consumer behavior. Load management allows utilities to reduce demand for electricity during peak usage times, which can, in turn, reduce costs by eliminating the need for peaking power plants. In addition, some peaking power plants can take more than an hour to bring on-line which makes load management even more critical should a plant go off-line unexpectedly for example. Load management can also help reduce harmful emissions, since peaking plants or backup generators are often dirtier and less efficient than base load power plants. New load-management technologies are constantly under development — both by private industry and public entities.
A smart grid is an electrical grid which includes a variety of operation and energy measures including:
Differential tariff is an example of demand side management where the price per unit of energy varies with the consumption. If a power utility uses differential tariff, it may change the rate per kWH of energy used during different times, such as raising the price during times of high energy consumption and lowering the price during times of low energy consumption. This helps balance the rate at which power is used and the rate at which power is created.
The Energy Commission, abbreviated ST, was created under the Energy Commission Act 2001 as a new regulator for the energy industry in Peninsular Malaysia and Sabah. The Commission was established to ensure that the energy industry is developed in an efficient manner so that Malaysia is ready to meet the new challenges of globalisation and liberalisation, particularly in the energy supply industry.
The energy efficiency implementation industry pertains to the firms which retrofit or replace inefficient equipment with the goal of reducing energy consumption and GHG emissions. Retrofitting can enhance existing equipment by increasing operational energy efficiency at a lower cost. As a comparison, complete replacement of equipment may be more costly, but can reduce the implementation complexity. The overarching goal of energy efficiency implementation is to save kilowatts (kW) and kilowatt hours (kWh). The difference between these two measurements is that one is a power rating (kW) and the other is a measurement of energy actually consumed (kWh).
The term Smart Grid is most commonly defined as an electric grid that has been digitized to enable two way communication between producers and consumers. The objective of the Smart Grid is to update electricity infrastructure to include more advanced communication, control, and sensory technology with the hope of increasing communication between consumers and energy producers. The potential benefits from a Smart Grid include increased reliability, more efficient electricity use, better economics, and improved sustainability.
A grid-connected photovoltaic system, or grid-connected PV system is an electricity generating solar PV power system that is connected to the utility grid. A grid-connected PV system consists of solar panels, one or several inverters, a power conditioning unit and grid connection equipment. They range from small residential and commercial rooftop systems to large utility-scale solar power stations. When conditions are right, the grid-connected PV system supplies the excess power, beyond consumption by the connected load, to the utility grid.
Resource adequacy in the field of electric power is the ability of the electric grid to satisfy the end-user power demand at any time. RA is a component of the electric system reliability. For example, sufficient unused generation capacity shall be available to the electrical grid at any time to accommodate equipment failures and drops in variable renewable energy sources. The adequacy standard should satisfy the chosen reliability index, typically the loss of load expectation (LOLE) of 1 day in 10 years.
