An electricity market is a system that enables the exchange of electrical energy, through an electrical grid. Historically, electricity has been primarily sold by companies that operate electric generators, and purchased by consumers or electricity retailers.
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.
Transpower New Zealand Limited (TPNZ) is the state-owned enterprise responsible for electric power transmission in New Zealand. It performs two major functions in the New Zealand electricity market. As the owner of the National Grid it provides the infrastructure of electric power transmission that allows consumers to have access to generation from a wide range of sources, and enables competition in the wholesale electricity market; as system operator it manages the real-time operation of the grid and the physical operation of the electricity market.
The Open Access Same-Time Information System (OASIS), is an Internet-based system for obtaining services related to electric power transmission in North America. It is the primary means by which high-voltage transmission lines are reserved for moving wholesale quantities of electricity. The OASIS concept was originally conceived with the Energy Policy Act of 1992, and formalized in 1996 through Federal Energy Regulatory Commission (FERC) Orders 888 and 889.
A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) that coordinates, controls, and monitors a multi-state electric grid. The transfer of electricity between states is considered interstate commerce, and electric grids spanning multiple states are therefore regulated by the Federal Energy Regulatory Commission (FERC). The voluntary creation of RTOs was initiated by FERC in December 1999. The purpose of the RTO is to promote economic efficiency, reliability, and non-discriminatory practices while reducing government oversight.
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 and Massachusetts.
ENTSO-E, the European Network of Transmission System Operators, represents 40 electricity transmission system operators (TSOs) from 36 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. Ukrainian Ukrenergo became the 40th member of the association on 1 January 2024.
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.
The synchronous grid of Continental Europe is the largest synchronous electrical grid in the world. It is interconnected as a single phase-locked 50 Hz mains frequency electricity grid that supplies over 400 million customers in 24 countries, including most of the European Union. In 2009, 667 GW of production capacity was connected to the grid, providing approximately 80 GW of operating reserve margin. The transmission system operators operating this grid formed the Union for the Coordination of Transmission of Electricity (UCTE), now part of the European Network of Transmission System Operators for Electricity (ENTSO-E).
ISO New England Inc. (ISO-NE) is an independent, non-profit regional transmission organization (RTO), headquartered in Holyoke, Massachusetts, serving Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
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.
An electrical grid is an interconnected network for electricity delivery from producers to consumers. Electrical grids consist of power stations, electrical substations to step voltage up or down, electric power transmission to carry power over long distances, and finally electric power distribution to customers. In that last step, voltage is stepped down again to the required service voltage. Power stations are typically built close to energy sources and far from densely populated areas. Electrical grids vary in size and can cover whole countries or continents. From small to large there are microgrids, wide area synchronous grids, and super grids. The combined transmission and distribution network is part of electricity delivery, known as the power grid.
The electricity sectors of the Republic of Ireland and Northern Ireland are integrated and supply 2.5 million customers from a combination of coal, peat, natural gas, wind and hydropower. In 2022, 34 TWh were generated. In 2018 natural gas produced 51.8%, while wind turbines generated 28.1%, coal 7%, and peat 6.8% of Ireland's average electricity demand. In 2020 wind turbines generated 36.3% of Ireland's electrical demand, one of the highest wind power proportions in the world. While the United Kingdom was one of the first countries in the world to deploy commercial nuclear power plants, the island of Ireland has never had a nuclear power plant built on either side of the Irish border. Nuclear power in Ireland was discussed in the 1960s and 1970s but ultimately never phased in, with legislation now in place explicitly forbidding its introduction.
The United States has the second largest electricity sector in the world, with 4,178 Terawatt-hours of generation in 2023. In 2023 the industry earned $491b in revenue at an average price of $0.127/kWh.
Nord Pool AS is a pan-European power exchange. Nord Pool has a main office in Oslo and further offices in Stockholm, Helsinki, Tallinn and London. The company is owned by the European exchange 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 European Network of Transmission System Operators for Gas (ENTSOG) is an association of Europe's transmission system operators (TSOs). ENTSOG was created on 1 December 2009 by 31 TSOs from 21 European countries. Creation of the ENTSOG was initiated by the adoption of the European Union third legislative package on the gas and electricity markets. It aims to promote the completion and cross-border trade for gas on the European internal market, and development of the European natural gas transmission network. According to the third energy package ENTSOG is required to develop an EU-wide ten-year gas network development plan.
KOSTT j.s.c is a transmission system operator company with its headquarters based in Pristina, Kosovo.
The electrical power grid that powers Northern America is not a single grid, but is instead divided into multiple wide area synchronous grids. The Eastern Interconnection and the Western Interconnection are the largest. Three other regions include the Texas Interconnection, the Quebec Interconnection, and the Alaska Interconnection. Each region delivers power at a nominal 60 Hz frequency.
Energy storage as a service (ESaaS) allows a facility to benefit from the advantages of an energy storage system by entering into a service agreement without purchasing the system. Energy storage systems provide a range of services to generate revenue, create savings, and improve electricity resiliency. The operation of the ESaaS system is a unique combination of an advanced battery storage system, an energy management system, and a service contract which can deliver value to a business by providing reliable power more economically.
