Over the past 50 years the US economy has experienced economic dynamism and technological change at a dizzying pace, driven substantially by innovation in digital communication technology. This dynamism has had limited effects in the electricity industry, and institutional change within the industry to adapt to these changes has been variable. Many states in the U.S. do not participate in open wholesale markets, and even more states have either no retail markets or have implemented such a restricted and politicized version of retail markets that potential retail market entrants still face substantial entry barriers. This book explores institutional design and regulatory policies in the US electricity industry that can adapt to unknown and changing conditions produced by economic, social, and technological change. Whereas the dominant regulatory paradigm has traditionally been centralized economic and physical control based on natural monopoly theory and power systems engineering, the ideas presented and synthesized by Kiesling compose a different paradigm - decentralized economic and physical coordination through contracts, transactions, price signals, and integrated intertemporal wholesale and retail markets. Digital communication technology, and its increasing pervasiveness and affordability, make this decentralized coordination possible. Kiesling argues that with decentralized coordination, distributed agents themselves control part of the system, and in aggregate their actions produce order. Technology makes this order feasible, but the institutions, the rules governing the interaction of agents in the system, contribute substantially to whether or not order can emerge from this decentralized coordination process.

The Smart Grid has the potential to revolutionize electricity delivery systems, and the security of its infrastructure is a vital concern not only for cyber-security practitioners, engineers, policy makers, and utility executives, but also for the media and consumers. Smart Grid Security: An End-to-End View of Security in the New Electrical Grid explores the important techniques, challenges, and forces that will shape how we achieve a secure twenty-first century electric grid. Includes a Foreword by Michael Assante, President and CEO, National Board of Information Security ExaminersFollowing an overview of the components of the Smart Grid, the book delves into the evolution of security standards and regulations and examines ways in which the Smart Grid might be regulated. The authors discuss the technical details about how metering technology is being implemented and the likely threats and vulnerabilities that utilities will face. They address the home area network (HAN) and examine distribution and transmission-the foundation for the delivery of electricity, along with distributed generation, micro-grids, and operations. The book explores future concepts-such as energy storage and the use of plug-in electric vehicles (PEVs)-in addition to the concomitant risk for fraud and manipulation with stored energy. Consumer-related issues are discussed as they pertain to emerging ways of receiving and generating energy. The book examines dysfunctions ranging from inadvertent outages to cyber-attack and presents recommendations on how to respond to these incidents. It concludes with speculation of future cyber-security challenges and discusses new ways that the grid can be defended, such as better key management and protection. Written in a style rigorous enough for the practitioner yet accessible to a broad audience, this comprehensive volume covers a topic that is becoming more critical to industry and consumers everywhere.

Stability of the electricity industry is crucial for economic growth of all nations. Sustainable economic growth cannot be accomplished without secured energy supply. The book underlines how management of the electricity industry should be conducted and the efficient form of electricity market structure. The book also studies the electricity industry in Korea which has been a strongly supportive and vital factor in the economic development of Korea for the last few decades. The book focuses on the three market players of the electricity market and they are the suppliers, consumers and the government-related organizations. It includes detailed information on generation and finances at the generator level and analyzes the efficiency differences among generators, plants and business units by using different performance measurement methods. It identifies and analyzes different production factors' effectiveness and relationships in generation. The comprehensive analysis helps to provide explanations in the differences in the performance of the studied units. The book also discusses the implications of the findings for future resource allocation and how we can further enhance the efficiency of the industry. The book will appeal to those interested in energy and energy policies, as well as researchers and practitioners in the economic development and electricity and utilities industry.

Effective policy is vital for creating greener economies, new jobs and industries, for securing energy supplies and for protecting the climate and environment. As renewable energy is fundamental to achieving all of these objectives, it too needs the best possible policy to drive it. Feed-in tariffs have proven to deliver the fastest, most cost-effective and inclusive deployment, by allowing anyone to sell renewable energy into the grid and get a long term, guaranteed return for it. This book, from authors who have spent years working on feed-in tariff design and advocacy, provides a broad and detailed resource on feed-in tariffs and other renewable energy support schemes. It shares many lessons on good and bad design and implementation, as well as discussing the challenges faced by policy, and renewable energy in general. Powering the Green Economy: - Situates renewable energy and feed-in tariffs within the context of the global moves towards a green economy - Provides an introduction to feed-in tariffs and brings developments in key countries around the world up to date - Investigates effective design for developed and emerging economies - Explores technical, social and political issues - Analyses other support schemes - Describes the barriers to renewable energy - Presents a blueprint for campaigning successfully for feed-in tariffs Written in a clear, practical style, this is a must-read for policymakers, businesses, investors, campaigners, academics, community groups and anyone concerned with creating successful and sustainable energy policy.

Effective policy is vital for creating greener economies, new jobs and industries, for securing energy supplies and for protecting the climate and environment. As renewable energy is fundamental to achieving all of these objectives, it too needs the best possible policy to drive it. Feed-in tariffs have proven to deliver the fastest, most cost-effective and inclusive deployment, by allowing anyone to sell renewable energy into the grid and get a long term, guaranteed return for it. This book, from authors who have spent years working on feed-in tariff design and advocacy, provides a broad and detailed resource on feed-in tariffs and other renewable energy support schemes. It shares many lessons on good and bad design and implementation, as well as discussing the challenges faced by policy, and renewable energy in general. Powering the Green Economy: - Situates renewable energy and feed-in tariffs within the context of the global moves towards a green economy - Provides an introduction to feed-in tariffs and brings developments in key countries around the world up to date - Investigates effective design for developed and emerging economies - Explores technical, social and political issues - Analyses other support schemes - Describes the barriers to renewable energy - Presents a blueprint for campaigning successfully for feed-in tariffs Written in a clear, practical style, this is a must-read for policymakers, businesses, investors, campaigners, academics, community groups and anyone concerned with creating successful and sustainable energy policy.

Over the past 50 years the US economy has experienced economic dynamism and technological change at a dizzying pace, driven substantially by innovation in digital communication technology. This dynamism has had limited effects in the electricity industry, and institutional change within the industry to adapt to these changes has been variable. Many states in the U.S. do not participate in open wholesale markets, and even more states have either no retail markets or have implemented such a restricted and politicized version of retail markets that potential retail market entrants still face substantial entry barriers. This book explores institutional design and regulatory policies in the US electricity industry that can adapt to unknown and changing conditions produced by economic, social, and technological change. Whereas the dominant regulatory paradigm has traditionally been centralized economic and physical control based on natural monopoly theory and power systems engineering, the ideas presented and synthesized by Kiesling compose a different paradigm - decentralized economic and physical coordination through contracts, transactions, price signals, and integrated intertemporal wholesale and retail markets. Digital communication technology, and its increasing pervasiveness and affordability, make this decentralized coordination possible. Kiesling argues that with decentralized coordination, distributed agents themselves control part of the system, and in aggregate their actions produce order. Technology makes this order feasible, but the institutions, the rules governing the interaction of agents in the system, contribute substantially to whether or not order can emerge from this decentralized coordination process.

The markets for electricity, gas and temperature have distinctive features, which provide the focus for countless studies. For instance, electricity and gas prices may soar several magnitudes above their normal levels within a short time due to imbalances in supply and demand, yielding what is known as spikes in the spot prices. The markets are also largely influenced by seasons, since power demand for heating and cooling varies over the year. The incompleteness of the markets, due to nonstorability of electricity and temperature as well as limited storage capacity of gas, makes spot-forward hedging impossible. Moreover, futures contracts are typically settled over a time period rather than at a fixed date. All these aspects of the markets create new challenges when analyzing price dynamics of spot, futures and other derivatives.This book provides a concise and rigorous treatment on the stochastic modeling of energy markets. Ornstein-Uhlenbeck processes are described as the basic modeling tool for spot price dynamics, where innovations are driven by time-inhomogeneous jump processes. Temperature futures are studied based on a continuous higher-order autoregressive model for the temperature dynamics. The theory presented here pays special attention to the seasonality of volatility and the Samuelson effect. Empirical studies using data from electricity, temperature and gas markets are given to link theory to practice.

Douglas F. Barnes and his team of development experts provide an essential guide that can help improve the quality of life of the estimated 1.3 billion rural people in the world who are without electricity.

The difficulties in bringing electricity to rural areas are formidable: Low population densities result in high capital and operating costs. Consumers are often poor and their electricity consumption is low. Politicians interfere with the planning and operations of programs, insisting on favored constituents. Yet, as Barnes and his contributors demonstrate, many countries have overcome these obstacles. The Challenge of Rural Electrification provides lessons from successful programs in Bangladesh, Chile, China, Costa Rica, Mexico, the Philippines, Thailand, and Tunisia, as well as Ireland and the United States. These insights are presented in a format that is accessible to a broad range of policy makers, development professionals, and community advocates.

Barnes and his contributors do not provide a single formula for bringing electricity to rural areas. They do not recommend a specific set of institutional arrangements for the participation of public sector companies, cooperatives, and private firms. They argue instead that successful programs follow a flexible but still well-defined set of principles: a financially viable plan that clearly accounts for any subsidies; a cooperative relationship between electricity providers and local communities; and an operational separation from day-to-day government and politics.

Originally published in 1979, this study develops a model that explains the rate of adoption of an innovation in an industry - i.e the impact of technological change upon the utilization of selected materials and energy resources in the steel, alluminium and metal can industries. Each of the three industries is examined and in subsequent chapters the model is developed, applied and evaluated.

Power for the People examines the tension between the social and political interests of states and the market in the case of energy policy. The author has conducted extensive research on California's experience with electricity restructuring, and assesses how the diverging interests of the market vs. the state resulted in that notable failure of energy deregulation. She includes overviews of many other states, and offers analysis on how states can balance their own interests with the market without imposing high costs on their citizens or the environment. This is the first book to look at deregulation from the point of view of the consumer and the states. Exceptionally clear, balanced, and well-written, it is essential reading for anyone interested in public policy, energy studies, and government deregulation of services, and would also be an ideal supplement for any courses in these areas.

Power for the People examines the tension between the social and political interests of states and the market in the case of energy policy. The author has conducted extensive research on California's experience with electricity restructuring, and assesses how the diverging interests of the market vs. the state resulted in that notable failure of energy deregulation. She includes overviews of many other states, and offers analysis on how states can balance their own interests with the market without imposing high costs on their citizens or the environment. This is the first book to look at deregulation from the point of view of the consumer and the states. Exceptionally clear, balanced, and well-written, it is essential reading for anyone interested in public policy, energy studies, and government deregulation of services, and would also be an ideal supplement for any courses in these areas.

This book addresses the fundamental issues underlying the debate over electric power regulation and deregulation. After decades of the presumption that the electric power industry was a natural monopoly, recent times have seen a trend of deregulation followed by panicked re-regulation. This important book critically analyses this controversial area from a legal and economic perspective.

The electric power industry in the U.S. has undergone dramatic changes in recent years. Tight regulations enacted in the 1970's and then de-regulation in the 90's have transformed it from a technology-driven industry into one driven by public policy requirements and the open-access market. Now, just as the utility companies must change to ensure their survival, engineers and other professionals in the industry must acquire new skills, adopt new attitudes, and accommodate other disciplines.

Power System Operations and Electricity Markets provides the information engineers need to understand and meet the challenges of the new competitive environment. Integrating the business and technical aspects of the restructured power industry, it explains, clearly and succinctly, how new methods for power systems operations and energy marketing relate to public policy, regulation, economics, and engineering science. The authors examine the technologies and techniques currently in use and lay the groundwork for the coming era of unbundling, open access, power marketing, self-generation, and regional transmission operations.

The rapid, massive changes in the electric power industry and in the economy have rendered most books on the subject obsolete. Based on the authors' years of front-line experience in the industry and in regulatory organizations, Power System Operations and Electricity Markets is current, insightful, and complete with Web links that will help readers stay up to date.

Originally published in 1959, the author has observed at first hand the workings of public enterprise in Britain. He has coupled objectivity with an acute sense of economic perception and has produced a clear and ordered study of the workings of nationalization in industry at the time. His book does not contain an argument on whether nationalization is desirable or not. On the assumption that there is nationalization he attempts to discuss certain important problems raised by it in the fields of management, pricing, resource allocation and public control. He hopes that a discussion of this nature will contribute towards ensuring the most satisfactory results from nationalization.

This open access book discusses the eroding economics of nuclear power for electricity generation as well as technical, legal, and political acceptance issues. The use of nuclear power for electricity generation is still a heavily disputed issue. Aside from technical risks, safety issues, and the unsolved problem of nuclear waste disposal, the economic performance is currently a major barrier. In recent years, the costs have skyrocketed especially in the European countries and North America. At the same time, the costs of alternatives such as photovoltaics and wind power have significantly decreased.

On one level, this is an intriguing account of expat life in Shanghai's International settlement in the early 20th century. On another level is charted the introduction and growth of new western technologies and companies in China. And the backdrop to these stories is early 20th century China itself: the hopes, fears, turmoil and grandeur of the age.

The Chinese electricity sector is the largest in the world, covering well over 20% of the world's electricity supply. While many other countries liberalized their electricity systems in the 1990s, thereby creating competitive wholesale and retail electricity markets, China's move towards liberalization has advanced at a slower pace - until now. Following the China State Council's publication of the No. 9 document on 'Deepening Reform of the Power Sector', this book reflects on the ambitious new round of reforms aimed at introducing competitive wholesale electricity markets and incentive regulation for its power grids. Written in collaboration with Hao Chen, Lewis Dale and Chung-Han Yang, this book provides lessons for China's reforms from international experience, combining a detailed review of reforms from around the world with specific application to China and focuses on how the industrial price of electricity is determined in a liberalized power system.

A Shock to the System is a guide to the decisions that will be faced by electricity providers, customers, and policymakers. Produced by a team of analysts at Resources for the Future, this concise and balanced work provides background necessary to understand the increasing role of competition in electricity markets. The authors introduce important concepts and terminology, and offer the history of public policy regarding electricity. They identify the significant proposals for implementing competition, and examine the potential consequences for regulation, industry structure, cost recovery, and the environment.

Originally published in 1968, this book was one of the first full-scale published studies of the principles of investment planning and of the structure of marginal costs in a public enterprise. The concepts involved were more developed and applied in the world's electricity industries than elsewhere, and this book will be of interest to both engineers and administrators who are concerned with electricity supply, by setting out the characteristics of investment planning in this sector and the implications for cost analysis.

Originally published in 1979, this study develops a model that explains the rate of adoption of an innovation in an industry - i.e the impact of technological change upon the utilization of selected materials and energy resources in the steel, alluminium and metal can industries. Each of the three industries is examined and in subsequent chapters the model is developed, applied and evaluated.

Electricity is a quirky commodity: more often than not, it cannot be stored, easily transported, or imported from overseas. Before lighting up our homes, it changes hands through specialized electricity markets that rely on engineering expertise to trade competitively while respecting the physical requirements of the electric grid. The Current Economy is an ethnography of electricity markets in the United States that shows the heterogenous and technologically inflected nature of economic expertise today. Based on ethnographic fieldwork among market data analysts, electric grid engineers, and citizen activists, this book provides a deep dive into the convoluted economy of electricity and its reverberations throughout daily life. Canay OEzden-Schilling argues that many of the economic formations in everyday life come from work cultures rarely suspected of doing economic work: cultures of science, technology, and engineering that often do not have a claim to economic theory or practice, yet nonetheless dictate forms of economic activity. Contributing to economic anthropology, science and technology studies, energy studies, and the anthropology of expertise, this book is a map of the everyday infrastructures of economy and energy into which we are plugged as denizens of a technological world.

The integration of renewable energy resources into the electricity grid presents an important challenge. This book provides a review and analysis of the technical and policy options available for managing variable energy resources such as wind and solar power. As well as being of value to government and industry policy-makers and planners, the volume also provides a single source for scientists and engineers of the technical knowledge gained during the 4-year RenewElec (renewable electricity) project at Carnegie Mellon University, the University of Vermont, Vermont Law School, and the Van Ness Feldman environmental law firm. The first part of the book discusses the options for large scale integration of variable electric power generation, including issues of predictability, variability, and efficiency. The second part presents the scientific findings of the project. In the final part, the authors undertake a critical review of major quantitative regional and national wind integration studies in the United States. Based on comparisons among these studies, they suggest areas where improvements in methods are warranted in future studies, areas where additional research is needed to facilitate future improvements in wind integration studies and how the research can be put into practice.

Stability of the electricity industry is crucial for economic growth of all nations. Sustainable economic growth cannot be accomplished without secured energy supply. The book underlines how management of the electricity industry should be conducted and the efficient form of electricity market structure. The book also studies the electricity industry in Korea which has been a strongly supportive and vital factor in the economic development of Korea for the last few decades. The book focuses on the three market players of the electricity market and they are the suppliers, consumers and the government-related organizations. It includes detailed information on generation and finances at the generator level and analyzes the efficiency differences among generators, plants and business units by using different performance measurement methods. It identifies and analyzes different production factors' effectiveness and relationships in generation. The comprehensive analysis helps to provide explanations in the differences in the performance of the studied units. The book also discusses the implications of the findings for future resource allocation and how we can further enhance the efficiency of the industry. The book will appeal to those interested in energy and energy policies, as well as researchers and practitioners in the economic development and electricity and utilities industry.

In 1896 a young Italian arrived in England with some mysterious scientific apparatus as part of his personal luggage. The Customs officials, who had seen nothing like it before, examined it so thoroughly that the delicate apparatus was completely wrecked. This was the inauspicious beginning of a venture that was destined to remould the pattern of twentieth century living. The book begins with a brief resume of early scientific discoveries up to 1896 and goes on to record the fortunes of the Marconi company. In the course of the book the author covers in detail the story of radio communications from the first wireless signals across the Atlantic to the transmission of colour television programmes via satellite. The narrative includes the development of electronic devices during two world wars and the histories of such specialist fields as sound broadcasting, television, aviation electronics and radar. The technical stories are told against the backcloth of a Company's successes and setbacks and commercial "wars". A lively reading, which can be readily understood by the lay reader. For the technical man, circuit diagrams of early apparatus give added interest. The text is generously illustrated with photographs from the Marconi archives.

If you're lucky enough to be employed today in the United States, there's about a one-in-ten chance that you're in a labor union. And even if you re part of that unionized 10 percent, chances are your union doesn't carry much economic or political clout. But this was not always the case, as historian and activist James Young shows in this vibrant story of the United Electrical Workers Union. The UE, built by hundreds of rank-and-file worker-activists in the quintessentially industrial town of Erie, Pennsylvania, was able to transform the conditions of the working class largely because it went beyond the standard call for living wages to demand quantum leaps in worker control over workplaces, community institutions, and the policies of the federal government itself. James Young's book is a richly empowering history told from below, showing that the collective efforts of the many can challenge the supremacy of the few. Erie's two UE locals confronted a daunting array of obstacles: the corporate superpower General Electric; ferocious red baiting; and later, the debilitating impact of globalization. Yet, by working through and across ethnic, gender, and racial divides, communities of people built a viable working-class base powered by real democracy. While the union's victories could not be sustained completely, the UE is still alive and fighting in Erie. This book is an exuberant and eloquent testament to this fight, and a reminder to every worker employed or unemployed; in a union or out that an injury to one is an injury to all."