This chapter reviews the impact of the transformation taking place across the power industry on the traditional market players. It identifies some of the key adverse consequences and suggests measures that may be necessary to address any market imbalances.

Chapter Contents:

• 19.1 Transformation
• 19.2 Plant mix development
• 19.3 Interaction with transport and heat
• 19.4 Market mechanisms
• 19.5 Flexibility
• 19.6 Trading process
• 19.7 Network development
• 19.8 Governance
• 19.9 Open system models
• 19.10 Market-based models
• 19.11 Functionality required
• 19.12 Development timescales
• 19.13 Conclusions

Inspec keywords: power markets; power generation dispatch; power generation economics

Other keywords: transformation impact; market imbalances; key adverse consequences; power industry; optimum development strategy

Subjects: Power system management, operation and economics