Open Electricity Economics
This Open Electricity Economics Handbook is an online resource meant for use by policy-makers, regulators and their advisers, as well as students of electricity economics and public policy. It provides a comprehensive introduction to the field of electricity economics for self-study and can be used as an encyclopedia by more experienced experts. This pilot of the handbook covers five topics on basics of electricity markets and economics. To know more about this initiative, refer to the OEE Project page or mail us at info@open-electricity-economics.org.
1. Overview of electric power systems
- 1.1 Electricity: basic terminology
- 1.2 Physical setup of electric power systems
- 1.3 Market structure of electricity industry
- 1.4 Renewables in the electric power systems
3. The cost of electricity
- 3.1 Cost of generating electricity
- 3.2 Cost metric I: Levelized Cost
- 3.3 Cost metric II: Screening Curves
- 3.4 Short-term vs. long-term profitability
4. The price and value of electricity
- 4.1 Electricity price variability
- 4.2 A short-run model: merit-order dispatch
- 4.3 A quick detour: models in electricity economics
- 4.4 Another short run model: Unit Commitment
- 4.5 Market value
- 4.6 Different price discovery mechanisms
5. Optimal capacity mix and scarcity pricing
- 5.1 The load duration curve
- 5.2 The optimal thermal generation mix
- 5.3 The impact of cost changes
- 5.4 The impact of renewable energy
- 5.5 Scarcity or peak-load pricing model
6. Cost of Renewable Electricity
- 6.1 The boom in wind and solar power
- 6.2 Declining costs of wind and solar power
7. Value of Renewable Electricity
- 7.1 Market value of wind and solar energy
- 7.2. Optimal deployment
8. Renewable Energy Support Schemes
- 8.1 Policies for deployment of renewables
- 8.2 Investment incentives
- 8.3 Quantity based schemes
- 8.4 Price based schemes
- 8.5 Other production based incentives
- 8.6 Risk exposure under support schemes
- 8.7 Duality of quantities and prices
- 8.8 Technology differentiation
9. Renewable Energy Auction Design
- 9.1 Introduction
- 9.2 Principles and elements of auction design
- 9.3 General design elements
- 9.4 Auction procedure
- 9.5 Eligibility requirements
- 9.6 Obligations, deadlines and penalties
- 9.7 Institutional set-up