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2019 | OriginalPaper | Chapter

Electricity Markets in the United States: A Brief History, Current Operations, and Trends

Authors : Thomas R. Nudell, Anuradha M. Annaswamy, Jianming Lian, Karanjit Kalsi, David D’Achiardi

Published in: Smart Grid Control

Publisher: Springer International Publishing

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Abstract

The global energy landscape is witnessing a concerted effort toward grid modernization. Motivated by sustainability, skyrocketing demand for electricity, and the inability of a legacy infrastructure to accommodate distributed and intermittent resources, a cyber-physical infrastructure is emerging to embrace zero-emission energy assets such as wind and solar generation and results in a smart grid that delivers green, reliable, and affordable power. A key ingredient of this infrastructure is electricity markets, the first layer of decision-making in a smart grid. This chapter provides an overview of electricity markets which can be viewed as the backdrop for their emerging role in a modernized, cyber-enabled grid. Starting from a brief history of the electricity markets in the United States, the article proceeds to delineate the current market structure, and closes with a description of current trends and emerging directions.

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next chapter Some Emerging Challenges in Electricity Markets

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Title: Electricity Markets in the United States: A Brief History, Current Operations, and Trends
Authors: Thomas R. Nudell
Anuradha M. Annaswamy
Jianming Lian
Karanjit Kalsi
David D’Achiardi
Publisher: Springer International Publishing
Book: Smart Grid Control
Print ISBN: 978-3-319-98309-7

Electronic ISBN: 978-3-319-98310-3

Copyright Year: 2019
DOI: https://doi.org/10.1007/978-3-319-98310-3_1

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