Imperfection of Electricity Markets
The paper shows the imperfection (in terms of microeconomics) of markets organized in the electric power industry. This imperfection is caused by special properties of the electric power systems (EPSs) that underlie the power industry. An analysis presented in the paper shows that these properties make it impossible to create conditions for perfect competition in the electricity markets. The imperfect markets require Government regulation of trade, including pricing. Deregulation of prices leads to negative consequences, which is the case in the power industry of Russia.
Библиографическая ссылка
Belyaev L.S. Imperfection of Electricity Markets // Energy Systems Research. Vol.2. No.2. 2019. P.51-62. DOI: 10.25729/esr.2019.02.0005
