C5 Electricity Markets and Regulation
To facilitate and promote the progress of engineering and the international exchange of information and knowledge in the field of electricity markets and regulation. To add value to this information and knowledge by means of synthesising state of the art practices and developing recommendations.
In the worldwide process of restructuring the power supply industry, new structures, institutions and actors appear. Efficiency improvements are expected from introducing various combinations of competition and regulation.
The scope of the Study Committee is to analyse the different approaches and solutions and their impact on the electricity supply industry in support of the traditional economists, planners and operators within the industry, as well as new actors such as regulators, traders and independent power producers (IPPs). Close co-operation with Study Committees C1 and C2 is expected.
In particular, areas to be covered are:
- Market structures and products such as physical and financial markets and the interaction between them, contracts, internationally integrated markets.
- Techniques and tools to support market actors such as demand and price forecasting profit estimation, financial risk management, etc.
- Regulation and legislation such as regulation objectives, extension and limits, price regulation of transmission and ancillary services, international harmonisation, environmental and reliability objectives, etc.
Each Study Committee oversees a number of Working Groups.