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Review of Electricity Deregulation with Market Model and Renewable Energy
Subject area: Science,Engineering and Technology · Area of research: Electrical Engineering
Abstract
Countries worldwide, both developed and the developing ones have adopted electricity privatization, deregulation, and competition as the preferred model for the present and future grid interconnection transactions. This decision has changed the traditional operating, market and transaction models in power system and have also accommodated newer concepts such as competitive market model, and renewable energy integration into the grid. The worldwide review of the electricity deregulation across most countries were presented with the various electricity models and market models adopted by different countries. The renewable energy in deregulated environment with it associated impact on wholesale market clearing price and its contribution to negative wholesale power price were discussed. The way forward discussed lessons that can be learnt by the developing countries from the developed countries with long history of electricity deregulation. Also, the anticipated future post deregulation challenges for developing countries were discussed and suggestions proffered.
Keywords
Deregulation; Electric Power Sector Reform Act (EPSRA); Market; Nigeria
How to cite this paper
@article{1705603,
author = {Olurotimi Olakunle Awodiji, Tochukwu John Oroakazie},
title = {Review of Electricity Deregulation with Market Model and Renewable Energy},
journal = {Iconic Research And Engineering Journals},
year = {2024},
volume = {7},
number = {9},
pages = {152-162},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1705603.pdf},
abstract = {Countries worldwide, both developed and the developing ones have adopted electricity privatization, deregulation, and competition as the preferred model for the present and future grid interconnection transactions. This decision has changed the traditional operating, market and transaction models in power system and have also accommodated newer concepts such as competitive market model, and renewable energy integration into the grid. The worldwide review of the electricity deregulation across most countries were presented with the various electricity models and market models adopted by different countries. The renewable energy in deregulated environment with it associated impact on wholesale market clearing price and its contribution to negative wholesale power price were discussed. The way forward discussed lessons that can be learnt by the developing countries from the developed countries with long history of electricity deregulation. Also, the anticipated future post deregulation challenges for developing countries were discussed and suggestions proffered.},
keywords = {Deregulation; Electric Power Sector Reform Act (EPSRA); Market; Nigeria},
month = {March},
}