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Electricity market

Index Electricity market

In economic terms, electricity (both power and energy) is a commodity capable of being bought, sold, and traded. [1]

168 relations: AC power, Alberta, Ancillary services (electric power), APX Group, Argentina, Australia, Austria, Availability-based tariff, Belgium, Brazil, California, California electricity crisis, Call centre, Call option, Canada, Central Electricity Generating Board, Chicago Boys, Chile, Colombia, Commodity, Commonwealth of Nations, Competition law, Congestion pricing, Contract for difference, Cost of electricity by source, Cost of goods sold, Czech Republic, Delaware, Demand response, Department for Business, Energy and Industrial Strategy, Deregulation, Derivative (finance), Derivatives market, Distributed generation, Economic dispatch, Economic equilibrium, Electric power, Electric power distribution, Electric power quality, Electric power transmission, Electric Reliability Council of Texas, Electric utility, Electrical energy, Electrical grid, Electricity, Electricity generation, Electricity pricing, Electricity retailing, Electricity sector in Argentina, Electricity sector in Brazil, ..., Electricity sector in Canada, Electricity sector in Chile, Electricity sector in Colombia, Electricity sector in France, Electricity sector in Germany, Electricity sector in Japan, Electricity sector in New Zealand, Electricity sector of the United States, Energy, Energy demand management, Energy development, Energy liberalisation, Energy market, Enron scandal, EPEX SPOT, Event-driven SOA, Federal Energy Regulatory Commission, Forward contract, Forward price, France, Frequency, Futures contract, Germany, Hedge (finance), Hertz, Hungary, Illinois, India, Indian Energy Exchange, Indiana, Intermittent energy source, Invoice, Ireland, Italy, Japan, Kentucky, Kilowatt hour, Korea, Load profile, Low-carbon power, Margaret Thatcher, Market analysis, Maryland, Mexico, Michigan, Midwestern United States, Nameplate capacity, National Electricity Market, National Grid (Great Britain), Natural gas, Natural monopoly, Negawatt power, NERC Tag, Netherlands, New England, New Jersey, New York (state), New Zealand, New Zealand electricity market, Nord Pool AS, North American Electric Reliability Corporation, North Carolina, Ohio, Open Energy Modelling Initiative, Operating reserve, Option (finance), Pennsylvania, Philippines, PJM Interconnection, Portugal, Power (physics), Power pool, Power purchase agreement, Power station, Price signal, Privatization, Public electricity supplier, Put option, Rate of return, Regional transmission organization (North America), Regulation, Risk management, Russia, Scandinavia, Scarcity value, Shadow price, Short-term trading, Singapore, Slovakia, Southwestern United States, Spain, Spot contract, Spot market, Strike price, Supply (economics), Supply and demand, Swap (finance), Tennessee, Transmission system operator, Turkey, Unit commitment problem in electrical power production, United Kingdom, United States, Vehicle-to-grid, Vertex (graph theory), Vertical integration, Virginia, Virtual bidding, Volatility (finance), Voltage drop, Volume risk, Washington, D.C., Watt, West Virginia, Western Australia, Wide area synchronous grid, Wind power, World Bank. Expand index (118 more) »

AC power

Power in an electric circuit is the rate of flow of energy past a given point of the circuit.

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Alberta

Alberta is a western province of Canada.

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Ancillary services (electric power)

The United States Federal Energy Regulatory Commission (FERC) defines the ancillary services as: "those services necessary to support the transmission of electric power from seller to purchaser given the obligations of control areas and transmitting utilities within those control areas to maintain reliable operations of the interconnected transmission system." Ancillary services are the specialty services and functions provided by the electric grid that facilitate and support the continuous flow of electricity so that supply will continually meet demand.

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APX Group

APX Group (APX) is an energy exchange operating the spot markets for electricity in the Netherlands, the United Kingdom, and Belgium.

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Argentina

Argentina, officially the Argentine Republic (República Argentina), is a federal republic located mostly in the southern half of South America.

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Australia

Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands.

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Austria

Austria (Österreich), officially the Republic of Austria (Republik Österreich), is a federal republic and a landlocked country of over 8.8 million people in Central Europe.

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Availability-based tariff

Availability Based Tariff (ABT) is a frequency based pricing mechanism applicable in India for unscheduled electric power transactions.

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Belgium

Belgium, officially the Kingdom of Belgium, is a country in Western Europe bordered by France, the Netherlands, Germany and Luxembourg.

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Brazil

Brazil (Brasil), officially the Federative Republic of Brazil (República Federativa do Brasil), is the largest country in both South America and Latin America.

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California

California is a state in the Pacific Region of the United States.

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California electricity crisis

The California electricity crisis, also known as the Western U.S. Energy Crisis of 2000 and 2001, was a situation in which the United States state of California had a shortage of electricity supply caused by market manipulations, and capped retail electricity prices.

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Call centre

A call centre or call center is a centralised office used for receiving or transmitting a large volume of requests by telephone.

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Call option

A call option, often simply labeled a "call", is a financial contract between two parties, the buyer and the seller of this type of option.

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Canada

Canada is a country located in the northern part of North America.

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Central Electricity Generating Board

The Central Electricity Generating Board (CEGB) was the cornerstone of the British electricity industry for almost forty years, from 1957 to privatisation in the 1990s.

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Chicago Boys

The Chicago Boys were a group of Chilean economists prominent around the 1970s and 1980s, the majority of whom trained at the Department of Economics of the University of Chicago under Milton Friedman and Arnold Harberger, or at its affiliate in the economics department at the Pontifical Catholic University of Chile.

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Chile

Chile, officially the Republic of Chile, is a South American country occupying a long, narrow strip of land between the Andes to the east and the Pacific Ocean to the west.

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Colombia

Colombia, officially the Republic of Colombia, is a sovereign state largely situated in the northwest of South America, with territories in Central America.

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Commodity

In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.

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Commonwealth of Nations

The Commonwealth of Nations, often known as simply the Commonwealth, is an intergovernmental organisation of 53 member states that are mostly former territories of the British Empire.

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Competition law

Competition law is a law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies.

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Congestion pricing

Congestion pricing or congestion charges is a system of surcharging users of public goods that are subject to congestion through excess demand such as higher peak charges for use of bus services, electricity, metros, railways, telephones, and road pricing to reduce traffic congestion; airlines and shipping companies may be charged higher fees for slots at airports and through canals at busy times.

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Contract for difference

In finance, a contract for difference (CFD) is a contract between two parties, typically described as "buyer" and "seller", stipulating that the seller will pay to the buyer the difference between the current value of an asset and its value at contract time (if the difference is negative, then the buyer pays instead to the seller).

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Cost of electricity by source

In electrical power generation, the distinct ways of generating electricity incur significantly different costs.

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Cost of goods sold

Cost of goods sold (COGS) refers to the carrying value of goods sold during a particular period.

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Czech Republic

The Czech Republic (Česká republika), also known by its short-form name Czechia (Česko), is a landlocked country in Central Europe bordered by Germany to the west, Austria to the south, Slovakia to the east and Poland to the northeast.

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Delaware

Delaware is one of the 50 states of the United States, in the Mid-Atlantic or Northeastern region.

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Demand response

Demand response is a change in the power consumption of an electric utility customer to better match the demand for power with the supply.

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Department for Business, Energy and Industrial Strategy

The Department for Business, Energy and Industrial Strategy (BEIS) is a government department, which was created by Theresa May on 14 July 2016 following her appointment as Prime Minister, created as a result of a merger between the Department of Energy and Climate Change and Department for Business, Innovation and Skills.

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Deregulation

Deregulation is the process of removing or reducing state regulations, typically in the economic sphere.

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Derivative (finance)

In finance, a derivative is a contract that derives its value from the performance of an underlying entity.

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Derivatives market

The derivatives market is the financial market for derivatives, financial instruments like futures contracts or options, which are derived from other forms of assets.

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Distributed generation

Distributed generation, also distributed energy, on-site generation (OSG) or district/decentralized energy is electrical generation and storage performed by a variety of small, grid-connected devices referred to as distributed energy resources (DER).

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Economic dispatch

Economic dispatch is the short-term determination of the optimal output of a number of electricity generation facilities, to meet the system load, at the lowest possible cost, subject to transmission and operational constraints.

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Economic equilibrium

In economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.

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Electric power

Electric power is the rate, per unit time, at which electrical energy is transferred by an electric circuit.

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Electric power distribution

Electric power distribution is the final stage in the delivery of electric power; it carries electricity from the transmission system to individual consumers.

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Electric power quality

Electric power quality, or simply power quality, involves voltage, frequency, and waveform.

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Electric power transmission

Electric power transmission is the bulk movement of electrical energy from a generating site, such as a power plant, to an electrical substation.

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Electric Reliability Council of Texas

The Electric Reliability Council of Texas (ERCOT) manages the flow of electric power on the Texas Interconnection that supplies power to 24 million Texas customers – representing 85 percent of the state's electric load.

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Electric utility

An electric utility is a company in the electric power industry (often a public utility) that engages in electricity generation and distribution of electricity for sale generally in a regulated market.

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Electrical energy

Electrical energy is the energy newly derived from electric potential energy or kinetic energy.

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Electrical grid

An electrical grid is an interconnected network for delivering electricity from producers to consumers.

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Electricity

Electricity is the set of physical phenomena associated with the presence and motion of electric charge.

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Electricity generation

Electricity generation is the process of generating electric power from sources of primary energy.

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Electricity pricing

Electricity pricing (sometimes referred to as electricity tariff or the price of electricity) varies widely from country to country and may vary significantly from locality to locality within a particular country.

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Electricity retailing

Electricity retailing is the final sale of electricity from generation to the end-use consumer.

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Electricity sector in Argentina

The electricity sector in Argentina constitutes the third largest power market in Latin America.

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Electricity sector in Brazil

The electricity sector in Brazil is the largest in South America.

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Electricity sector in Canada

The electricity sector in Canada has played a significant role in the economic and political life of the country since the late 19th century.

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Electricity sector in Chile

The electricity sector in Chile relies predominantly on thermal and hydro power generation.

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Electricity sector in Colombia

The electricity sector in Colombia is dominated by large hydropower generation (65%) and thermal generation (35%).

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Electricity sector in France

The electricity sector in France is dominated by nuclear power, which accounted for 72.3% of total production in 2016, while renewables and fossil fuels accounted for 17.8% and 8.6%, respectively.

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Electricity sector in Germany

In 2014, the electricity sector in Germany was composed of 53% fossil, 17% nuclear and 30% renewable energy sources.

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Electricity sector in Japan

The electric power industry in Japan covers the generation, transmission, distribution, and sale of electric energy in Japan.

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Electricity sector in New Zealand

The electricity sector in New Zealand uses mainly renewable energy sources such as hydropower, geothermal power and increasingly wind energy.

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Electricity sector of the United States

The electricity sector of the United States includes a large array of stakeholders that provide services through electricity generation, transmission, distribution and marketing for industrial, commercial, public and residential customers.

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Energy

In physics, energy is the quantitative property that must be transferred to an object in order to perform work on, or to heat, the object.

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Energy demand management

Energy demand management, also known as demand-side management (DSM) or demand-side response (DSR), is the modification of consumer demand for energy through various methods such as financial incentives and behavioral change through education.

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Energy development

Energy development is the field of activities focused on obtaining sources of energy from natural resources.

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Energy liberalisation

Energy liberalisation refers to the liberalisation of energy markets, with specific reference to electricity generation markets, by bringing greater competition into electricity and gas markets in the interest of creating more competitive markets and reductions in price by privatisation.

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Energy market

Energy markets are commodity markets that deal specifically with the trade and supply of energy.

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Enron scandal

The Enron scandal was a financial scandal that eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world.

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EPEX SPOT

EPEX SPOT SE (the European Power Exchange) is an exchange for power spot trading in Germany, France, the United Kingdom, the Netherlands, Belgium, Austria, Switzerland and Luxembourg.

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Event-driven SOA

Event-driven SOA is a form of service-oriented architecture (SOA), combining the intelligence and proactiveness of event-driven architecture with the organizational capabilities found in service offerings.

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Federal Energy Regulatory Commission

The Federal Energy Regulatory Commission (FERC) is the United States federal agency that regulates the transmission and wholesale sale of electricity and natural gas in interstate commerce and regulates the transportation of oil by pipeline in interstate commerce.

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Forward contract

In finance, a forward contract or simply a forward is a non-standardized contract between two parties to buy or to sell an asset at a specified future time at a price agreed upon today, making it a type of derivative instrument.

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Forward price

The forward price (or sometimes forward rate) is the agreed upon price of an asset in a forward contract.

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France

France, officially the French Republic (République française), is a sovereign state whose territory consists of metropolitan France in Western Europe, as well as several overseas regions and territories.

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Frequency

Frequency is the number of occurrences of a repeating event per unit of time.

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Futures contract

In finance, a futures contract (more colloquially, futures) is a standardized forward contract, a legal agreement to buy or sell something at a predetermined price at a specified time in the future.

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Germany

Germany (Deutschland), officially the Federal Republic of Germany (Bundesrepublik Deutschland), is a sovereign state in central-western Europe.

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Hedge (finance)

A hedge is an investment position intended to offset potential losses or gains that may be incurred by a companion investment.

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Hertz

The hertz (symbol: Hz) is the derived unit of frequency in the International System of Units (SI) and is defined as one cycle per second.

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Hungary

Hungary (Magyarország) is a country in Central Europe that covers an area of in the Carpathian Basin, bordered by Slovakia to the north, Ukraine to the northeast, Austria to the northwest, Romania to the east, Serbia to the south, Croatia to the southwest, and Slovenia to the west.

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Illinois

Illinois is a state in the Midwestern region of the United States.

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India

India (IAST), also called the Republic of India (IAST), is a country in South Asia.

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Indian Energy Exchange

The Indian Energy Exchange (IEX) is an electronic system based power trading exchange regulated by the Central Electricity Regulatory Commission (CERC).

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Indiana

Indiana is a U.S. state located in the Midwestern and Great Lakes regions of North America.

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Intermittent energy source

An intermittent energy source is any source of energy that is not continuously available for conversion into electricity and outside direct control because the used primary energy cannot be stored.

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Invoice

An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer.

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Ireland

Ireland (Éire; Ulster-Scots: Airlann) is an island in the North Atlantic.

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Italy

Italy (Italia), officially the Italian Republic (Repubblica Italiana), is a sovereign state in Europe.

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Japan

Japan (日本; Nippon or Nihon; formally 日本国 or Nihon-koku, lit. "State of Japan") is a sovereign island country in East Asia.

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Kentucky

Kentucky, officially the Commonwealth of Kentucky, is a state located in the east south-central region of the United States.

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Kilowatt hour

The kilowatt hour (symbol kWh, kW⋅h or kW h) is a unit of energy equal to 3.6 megajoules.

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Korea

Korea is a region in East Asia; since 1945 it has been divided into two distinctive sovereign states: North Korea and South Korea.

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Load profile

In electrical engineering, a load profile is a graph of the variation in the electrical load versus time.

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Low-carbon power

Low-carbon power comes from processes or technologies that produce power with substantially lower amounts of carbon dioxide emissions than is emitted from conventional fossil fuel power generation.

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Margaret Thatcher

Margaret Hilda Thatcher, Baroness Thatcher, (13 October 19258 April 2013) was a British stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party from 1975 to 1990.

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Market analysis

A market analysis studies the attractiveness and the dynamics of a special market within a special industry.

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Maryland

Maryland is a state in the Mid-Atlantic region of the United States, bordering Virginia, West Virginia, and Washington, D.C. to its south and west; Pennsylvania to its north; and Delaware to its east.

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Mexico

Mexico (México; Mēxihco), officially called the United Mexican States (Estados Unidos Mexicanos) is a federal republic in the southern portion of North America.

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Michigan

Michigan is a state in the Great Lakes and Midwestern regions of the United States.

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Midwestern United States

The Midwestern United States, also referred to as the American Midwest, Middle West, or simply the Midwest, is one of four census regions of the United States Census Bureau (also known as "Region 2").

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Nameplate capacity

Nameplate capacity, also known as the rated capacity, nominal capacity, installed capacity, or maximum effect, is the intended full-load sustained output of a facility such as a power plant, Energy Information Administration.

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National Electricity Market

The National Electricity Market (NEM) is an arrangement in Australia's electricity sector for the connection of the synchronous electricity transmission grids of the eastern and southern Australia states and territories to create a cross-state wholesale electricity market.

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National Grid (Great Britain)

The National Grid is the high-voltage electric power transmission network in Great Britain, connecting power stations and major substations and ensuring that electricity generated anywhere in GB (England, Scotland and Wales) can be used to satisfy demand elsewhere.

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Natural gas

Natural gas is a naturally occurring hydrocarbon gas mixture consisting primarily of methane, but commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium.

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Natural monopoly

A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors.

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Negawatt power

Negawatt power is a theoretical unit of power representing an amount of electrical power (measured in watts) saved.

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NERC Tag

A NERC Tag, also commonly referred to as an E-Tag, represents a transaction on the North American bulk electricity market scheduled to flow within, between or across electric utility company territories.

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Netherlands

The Netherlands (Nederland), often referred to as Holland, is a country located mostly in Western Europe with a population of seventeen million.

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New England

New England is a geographical region comprising six states of the northeastern United States: Maine, Vermont, New Hampshire, Massachusetts, Rhode Island and Connecticut.

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New Jersey

New Jersey is a state in the Mid-Atlantic region of the Northeastern United States.

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New York (state)

New York is a state in the northeastern United States.

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New Zealand

New Zealand (Aotearoa) is a sovereign island country in the southwestern Pacific Ocean.

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New Zealand electricity market

New Zealand's electricity market (NZEM) is regulated by the Electricity Industry Participation Code administered by the Electricity Authority (EA).

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Nord Pool AS

Nord Pool AS runs the largest market for electrical energy in Europe, measured in volume traded (TWh) and in market share.

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North American Electric Reliability Corporation

The North American Electric Reliability Corporation (NERC) is a nonprofit corporation based in Atlanta, Georgia, and formed on March 28, 2006, as the successor to the North American Electric Reliability Council (also known as NERC).

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North Carolina

North Carolina is a U.S. state in the southeastern region of the United States.

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Ohio

Ohio is a Midwestern state in the Great Lakes region of the United States.

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Open Energy Modelling Initiative

The Open Energy Modelling Initiative (openmod) is a grass roots community of energy system modellers from universities and research institutes across Europe and elsewhere.

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Operating reserve

In electricity networks, the operating reserve is the generating capacity available to the system operator within a short interval of time to meet demand in case a generator goes down or there is another disruption to the supply.

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Option (finance)

In finance, an option is a contract which gives the buyer (the owner or holder of the option) the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price on a specified date, depending on the form of the option.

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Pennsylvania

Pennsylvania (Pennsylvania German: Pennsylvaani or Pennsilfaani), officially the Commonwealth of Pennsylvania, is a state located in the northeastern and Mid-Atlantic regions of the United States.

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Philippines

The Philippines (Pilipinas or Filipinas), officially the Republic of the Philippines (Republika ng Pilipinas), is a unitary sovereign and archipelagic country in Southeast Asia.

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PJM Interconnection

PJM Interconnection LLC (PJM) is a regional transmission organization (RTO) in the United States.

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Portugal

Portugal, officially the Portuguese Republic (República Portuguesa),In recognized minority languages of Portugal: Portugal is the oldest state in the Iberian Peninsula and one of the oldest in Europe, its territory having been continuously settled, invaded and fought over since prehistoric times.

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Power (physics)

In physics, power is the rate of doing work, the amount of energy transferred per unit time.

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Power pool

Power pooling is used to balance electrical load over a larger network (electrical grid) than a single utility.

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Power purchase agreement

A power purchase agreement (PPA), or electricity power agreement, is a contract between two parties, one which generates electricity (the seller) and one which is looking to purchase electricity (the buyer).

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Power station

A power station, also referred to as a power plant or powerhouse and sometimes generating station or generating plant, is an industrial facility for the generation of electric power.

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Price signal

A price signal is information conveyed to consumers and producers, via the price charged for a product or service, which provides a signal to increase or decrease supply or demand.

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Privatization

Privatization (also spelled privatisation) is the purchase of all outstanding shares of a publicly traded company by private investors, or the sale of a state-owned enterprise to private investors.

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Public electricity supplier

Public electricity suppliers (PES) were the fourteen electricity companies created in Great Britain when the electricity market in the United Kingdom was privatised following the Electricity Act 1989.

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Put option

In finance, a put or put option is a stock market device which gives the owner of a put the right, but not the obligation, to sell an asset (the underlying), at a specified price (the strike), by a predetermined date (the expiry or maturity) to a given party (the seller of the put).

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Rate of return

In finance, return is a profit on an investment.

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Regional transmission organization (North America)

A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) which coordinates, controls and monitors a multi-state electric grid.

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Regulation

Regulation is an abstract concept of management of complex systems according to a set of rules and trends.

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Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinator and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

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Russia

Russia (rɐˈsʲijə), officially the Russian Federation (p), is a country in Eurasia. At, Russia is the largest country in the world by area, covering more than one-eighth of the Earth's inhabited land area, and the ninth most populous, with over 144 million people as of December 2017, excluding Crimea. About 77% of the population live in the western, European part of the country. Russia's capital Moscow is one of the largest cities in the world; other major cities include Saint Petersburg, Novosibirsk, Yekaterinburg and Nizhny Novgorod. Extending across the entirety of Northern Asia and much of Eastern Europe, Russia spans eleven time zones and incorporates a wide range of environments and landforms. From northwest to southeast, Russia shares land borders with Norway, Finland, Estonia, Latvia, Lithuania and Poland (both with Kaliningrad Oblast), Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia and North Korea. It shares maritime borders with Japan by the Sea of Okhotsk and the U.S. state of Alaska across the Bering Strait. The East Slavs emerged as a recognizable group in Europe between the 3rd and 8th centuries AD. Founded and ruled by a Varangian warrior elite and their descendants, the medieval state of Rus arose in the 9th century. In 988 it adopted Orthodox Christianity from the Byzantine Empire, beginning the synthesis of Byzantine and Slavic cultures that defined Russian culture for the next millennium. Rus' ultimately disintegrated into a number of smaller states; most of the Rus' lands were overrun by the Mongol invasion and became tributaries of the nomadic Golden Horde in the 13th century. The Grand Duchy of Moscow gradually reunified the surrounding Russian principalities, achieved independence from the Golden Horde. By the 18th century, the nation had greatly expanded through conquest, annexation, and exploration to become the Russian Empire, which was the third largest empire in history, stretching from Poland on the west to Alaska on the east. Following the Russian Revolution, the Russian Soviet Federative Socialist Republic became the largest and leading constituent of the Union of Soviet Socialist Republics, the world's first constitutionally socialist state. The Soviet Union played a decisive role in the Allied victory in World War II, and emerged as a recognized superpower and rival to the United States during the Cold War. The Soviet era saw some of the most significant technological achievements of the 20th century, including the world's first human-made satellite and the launching of the first humans in space. By the end of 1990, the Soviet Union had the world's second largest economy, largest standing military in the world and the largest stockpile of weapons of mass destruction. Following the dissolution of the Soviet Union in 1991, twelve independent republics emerged from the USSR: Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, Armenia, Azerbaijan, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan and the Baltic states regained independence: Estonia, Latvia, Lithuania; the Russian SFSR reconstituted itself as the Russian Federation and is recognized as the continuing legal personality and a successor of the Soviet Union. It is governed as a federal semi-presidential republic. The Russian economy ranks as the twelfth largest by nominal GDP and sixth largest by purchasing power parity in 2015. Russia's extensive mineral and energy resources are the largest such reserves in the world, making it one of the leading producers of oil and natural gas globally. The country is one of the five recognized nuclear weapons states and possesses the largest stockpile of weapons of mass destruction. Russia is a great power as well as a regional power and has been characterised as a potential superpower. It is a permanent member of the United Nations Security Council and an active global partner of ASEAN, as well as a member of the G20, the Shanghai Cooperation Organisation (SCO), the Council of Europe, the Asia-Pacific Economic Cooperation (APEC), the Organization for Security and Co-operation in Europe (OSCE), and the World Trade Organization (WTO), as well as being the leading member of the Commonwealth of Independent States (CIS), the Collective Security Treaty Organization (CSTO) and one of the five members of the Eurasian Economic Union (EEU), along with Armenia, Belarus, Kazakhstan and Kyrgyzstan.

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Scandinavia

Scandinavia is a region in Northern Europe, with strong historical, cultural and linguistic ties.

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Scarcity value

Scarcity value is the economic factor that increases an item's relative price based more upon its relatively low supply.

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Shadow price

A shadow price is commonly referred to as a monetary value assigned to currently unknowable or difficult-to-calculate costs.

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Short-term trading

Short-term trading refers to those trading strategies in stock market or futures market in which the time duration between entry and exit is within a range of few days to few weeks.

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Singapore

Singapore, officially the Republic of Singapore, is a sovereign city-state and island country in Southeast Asia.

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Slovakia

Slovakia (Slovensko), officially the Slovak Republic (Slovenská republika), is a landlocked country in Central Europe.

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Southwestern United States

The Southwestern United States (Suroeste de Estados Unidos; also known as the American Southwest) is the informal name for a region of the western United States.

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Spain

Spain (España), officially the Kingdom of Spain (Reino de España), is a sovereign state mostly located on the Iberian Peninsula in Europe.

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Spot contract

In finance, a spot contract, spot transaction, or simply spot, is a contract of buying or selling a commodity, security or currency for immediate settlement (payment and delivery) on the spot date, which is normally two business days after the trade date.

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Spot market

The spot market or cash market is a public financial market in which financial instruments or commodities are traded for immediate delivery.

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Strike price

In finance, the strike price (or exercise price) of an option is the fixed price at which the owner of the option can buy (in the case of a call), or sell (in the case of a put), the underlying security or commodity.

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Supply (economics)

In economics, supply is the amount of something that firms, consumers, labourers, providers of financial assets, or other economic agents are willing to provide to the marketplace.

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Supply and demand

In microeconomics, supply and demand is an economic model of price determination in a market.

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Swap (finance)

A swap is a derivative contract where two parties exchange financial instruments.

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Tennessee

Tennessee (translit) is a state located in the southeastern region of the United States.

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Transmission system operator

A transmission system operator (TSO) is an entity entrusted with transporting energy in the form of natural gas ENTSO-G. Retrieved: 2 October 2010.

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Turkey

Turkey (Türkiye), officially the Republic of Turkey (Türkiye Cumhuriyeti), is a transcontinental country in Eurasia, mainly in Anatolia in Western Asia, with a smaller portion on the Balkan peninsula in Southeast Europe.

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Unit commitment problem in electrical power production

The unit commitment problem (UC) in electrical power production is a large family of mathematical optimization problems where the production of a set of electrical generators is coordinated in order to achieve some common target, usually either match the energy demand at minimum cost or maximize revenues from energy production.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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Vehicle-to-grid

Vehicle-to-grid (V2G) describes a system in which plug-in electric vehicles, such as battery electric vehicles (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicles (FCEV), communicate with the power grid to sell demand response services by either returning electricity to the grid or by throttling their charging rate.

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Vertex (graph theory)

In mathematics, and more specifically in graph theory, a vertex (plural vertices) or node is the fundamental unit of which graphs are formed: an undirected graph consists of a set of vertices and a set of edges (unordered pairs of vertices), while a directed graph consists of a set of vertices and a set of arcs (ordered pairs of vertices).

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Vertical integration

In microeconomics and management, vertical integration is an arrangement in which the supply chain of a company is owned by that company.

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Virginia

Virginia (officially the Commonwealth of Virginia) is a state in the Southeastern and Mid-Atlantic regions of the United States located between the Atlantic Coast and the Appalachian Mountains.

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Virtual bidding

Virtual bidding is a strategy implemented in various Independent System Operator electricity markets of trading Day-Ahead prices against Real-Time (or Hour-Ahead) prices.

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Volatility (finance)

In finance, volatility (symbol σ) is the degree of variation of a trading price series over time as measured by the standard deviation of logarithmic returns.

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Voltage drop

Voltage drop describes how the energy supplied by a voltage source is reduced as electric current moves through the passive elements (elements that do not supply voltage) of an electrical circuit.

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Volume risk

Volume risk is a commodity risk which refers to the fact that a player in the commodity market has uncertain quantities of consumption or sourcing, i.e. production of the respective commodity.

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Washington, D.C.

Washington, D.C., formally the District of Columbia and commonly referred to as Washington or D.C., is the capital of the United States of America.

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Watt

The watt (symbol: W) is a unit of power.

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West Virginia

West Virginia is a state located in the Appalachian region of the Southern United States.

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Western Australia

Western Australia (abbreviated as WA) is a state occupying the entire western third of Australia.

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Wide area synchronous grid

A wide area synchronous grid (also called an "interconnection" in North America) is an electrical grid at a regional scale or greater that operates at a synchronized frequency and is electrically tied together during normal system conditions.

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Wind power

Wind power is the use of air flow through wind turbines to mechanically power generators for electricity.

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World Bank

The World Bank (Banque mondiale) is an international financial institution that provides loans to countries of the world for capital projects.

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Redirects here:

Capacity market, Electric market, Electricity exchange, Energy choice, Energy exchange, Power market, Regulated power market.

References

[1] https://en.wikipedia.org/wiki/Electricity_market

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