In economic terms, electricity is a consumable energy resource capable of being bought, sold, and traded. An electricity market, also power exchange or PX, is a system enabling purchases, through bids to buy; sales, through offers to sell. Bids and offers use supply and demand principles to set the price. Long-term contracts are similar to power purchase agreements and generally considered private bi-lateral transactions between counterparties.
The electric power industry covers the generation, transmission, distribution and sale of electric power to the general public and industry. The commercial distribution of electric power 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.
A Uniform Resource Name (URN) is a Uniform Resource Identifier (URI) that uses the urn scheme. URNs are globally unique persistent identifiers assigned within defined namespaces so they will be available for a long period of time, even after the resource which they identify ceases to exist or becomes unavailable. URNs cannot be used to directly locate an item and need not be resolvable, as they are simply templates that another parser may use to find an item.
The Ontario Energy Board regulates natural gas and electricity utilities in the province of Ontario, Canada. This includes setting rates, and licensing all participants in the electricity sector including the Independent Electricity System Operator (IESO), generators, transmitters, distributors, wholesalers and electricity retailers, as well as natural gas marketers who sell to low volume customers.
National Grid plc is a British multinational electricity and gas utility company headquartered in London, England. Its principal activities are in the United Kingdom, where it owns and operates electricity and natural gas transmission networks, and in the Northeastern United States, where as well as operating transmission networks, the company produces and supplies electricity and gas, providing both to customers in New York, Massachusetts, and Rhode Island.
A transmission system operator (TSO) is an entity entrusted with transporting energy in the form of natural gas or electrical power on a national or regional level, using fixed infrastructure. The term is defined by the European Commission. The certification procedure for transmission system operators is listed in Article 10 of the Electricity and Gas Directives of 2009.
European Energy Exchange (EEX) AG is a central European electric power and related commodities exchange located in Leipzig, Germany. It develops, operates and connects secure, liquid and transparent markets for energy and related products, including power derivative contracts, emission allowances, agricultural and freight products.
ENTSO-E, the European Network of Transmission System Operators, represents 39 electricity transmission system operators (TSOs) from 35 countries across Europe, thus extending beyond EU borders. ENTSO-E was established and given legal mandates by the EU's Third Package for the Internal energy market in 2009, which aims at further liberalising the gas and electricity markets in the EU.
The electricity sector in New Zealand uses mainly renewable energy, such as hydropower, geothermal power and increasingly wind energy. As of 2019, 82% of electricity is generated from renewable sources, making New Zealand one of the countries with the lowest carbon dioxide emissions from electricity generation. Electricity demand grew by an average of 2.1% per year from 1974 to 2010 but decreased by 1.2% from 2010 to 2013.
Availability Based Tariff (ABT) is a frequency based pricing mechanism applicable in India for unscheduled electric power transactions. The ABT falls under electricity market mechanisms to charge and regulate power to achieve short term and long term network stability as well as incentives and dis-incentives to grid participants against deviations in committed supplies as the case may be.
PJM Interconnection LLC (PJM) is a regional transmission organization (RTO) in the United States. It is part of the Eastern Interconnection grid operating an electric transmission system serving all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia.
The European Union Agency for the Cooperation of Energy Regulators (ACER) is an Agency of the European Union by the Third Energy Package in 2009. It was established in 2010 and has its seat in Ljubljana, Slovenia.
Nord Pool AS is a pan-European power exchange. Nord Pool has a main office in Oslo and further offices in Stockholm, Helsinki, Tallinn, Berlin and London. The company is owned by the European exhange operator Euronext as well as TSO Holding, which represents the continental Nordic and Baltic countries' Transmission system operators. Nord Pool has two subsidiaries, Nord Pool AB and Nord Pool Finland Oy.
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.
KOSTT j.s.c is a transmission system operator company with the headquarters in Pristina, Kosovo. It plays an important role in the energy sector in Kosovo. As a market operator it is responsible for the organization and administration of trades in electricity and the management of the settlement process. It is a member of the Energy Community. KOSTT is control area and It is synchronously connected with Continental Europe and cooperating with RG CE TSOs to abide by the EU packages. It expects to become a member of the European Network of Transmission System Operators for Electricity in the future.
Energy in Ukraine is mainly from gas and coal, followed by nuclear then oil. The coal industry has been disrupted by conflict. Most gas and oil is imported, but since 2015 energy policy has prioritised diversifying energy supply.
The United Kingdom is committed to legally binding greenhouse gas emissions reduction targets of 34% by 2020 and 80% by 2050, compared to 1990 levels, as set out in the Climate Change Act 2008. Decarbonisation of electricity generation will form a major part of this reduction and is essential before other sectors of the economy can be successfully decarbonised.
Independent Power Transmission Operator S.A. is the Transmission System Operator for the Hellenic Electricity Transmission System. The mission of the company is the operation, control, maintenance and development of the national transmission system of Greece to ensure the reliable and efficient electricity supply, as well as the operation of the electricity market following the principles of transparency and equality.
Turkey uses more electricity per person than the global average, but less than the European average, with demand peaking in summer due to air conditioning. Most electricity is generated from coal, gas and hydropower, with hydroelectricity from the east transmitted to big cities in the west. Electricity prices are state-controlled, but wholesale prices are heavily influenced by the cost of imported gas.
The electricity sector in the Philippines provides electricity through power generation, transmission, and distribution to many parts of the Philippines. The Philippines is divided into three electrical grids, one each for Luzon, the Visayas and Mindanao. As of June 2016, the total installed capacity in the Philippines was 20,055 megawatts (MW), of which 14,348 MW was on the Luzon grid. As of June, 2016, the all-time peak demand on Luzon was 9,726 MW at 2:00 P.M. on May 2, 2016; on Visayas was 1,878 MW at 2:00 P.M. on May 11, 2016; and on Mindanao was 1,593 MW at 1:35 P.M. on June 8, 2016. However, about 12% of Filipinos have no access to electricity. The Philippines is also one of the countries in the world that has a fully functioning electricity market since 2006 called the Philippine Wholesale Electricity Spot Market(WESM) and is operated by an independent market operator.
