Electricity+Markets+Theories

Why did an electricity market emerge? How does it really work? What are the perfor- mance measures that we can use to tell that the electricity market under consideration is well functioning? These are the questions that will be explored in this book. The main purpose of this book is to introduce the fundamental theories and concepts that underpintheelectricitymarketswhicharebasedonthreemajordisciplines:electrical power engineering, economics, and optimization methods.