In order to manage the transition towards a sustainable future
electricity system, an in-depth understanding of the key technological,
economic, environmental and societal drivers for electricity markets is
required. Suitable for advanced undergraduate and graduate students,
this textbook provides an overview of these drivers and introduces
readers to major economic models and empirical evidence for the study of
electricity markets and systems.
Readers will learn about electricity generation, demand, transport, and
storage, as well as the fundamentals of grid and electricity markets in
Europe. By introducing them to state-of-the-art models from operations
research and economics, the book provides a solid basis for analytical
insights and numerical modeling. Furthermore, the book discusses the
policy instruments and design choices for electricity market regulation
and sustainable power system development, as well as the current
challenges for smart energy systems.