Standard Market Design

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Standard Market Design is a set of established guidelines governing the sale of electrical power and the operations of electrical transmission lines in the United States of America established by the Federal Energy Regulatory Commission. [1] [2]

The objective of standard market design for wholesale electric markets is to establish a common market framework that promotes economic efficiency and lower delivered energy costs, maintains power system reliability, mitigates significant market power and increases the choices offered to wholesale market participants. All customers should benefit from an efficient competitive wholesale energy market, whether or not they are in states that have elected to adopt retail access.

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<span class="mw-page-title-main">Federal Energy Regulatory Commission</span> Independent agency of the US federal government

The Federal Energy Regulatory Commission (FERC) is an independent agency of the United States government that regulates the interstate transmission and wholesale sale of electricity and natural gas and regulates the prices of interstate transport of petroleum by pipeline. FERC also reviews proposals to build interstate natural gas pipelines, natural gas storage projects, and liquefied natural gas (LNG) terminals, in addition to licensing non-federal hydropower projects.

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<span class="mw-page-title-main">Electric power industry</span> Industry that provides the production and delivery of electric energy

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.

<span class="mw-page-title-main">ESB Group</span> Irish electric utility

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<span class="mw-page-title-main">Energy Policy Act of 1992</span>

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<span class="mw-page-title-main">Electricity pricing</span>

Electricity pricing can vary widely by country or by locality within a country. Electricity prices are dependent on many factors, such as the price of power generation, government taxes or subsidies, CO
2
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