Electricity Capacity Markets
Electricity Capacity Markets by Todd S. Aagaard, published by Cambridge University Press on March 3, 2022, is a comprehensive examination of the evolution and function of capacity markets within the electricity sector. Spanning 300 pages, this book delves into the rationales behind the establishment of capacity markets, their operational mechanisms, and their effectiveness in enhancing system reliability. It addresses the complexities and controversies surrounding these billion-dollar institutions, making it relevant for both energy experts and those new to the subject.
Readers will find a thorough analysis of the challenges capacity markets face, including the need to balance market forces with social good and the pursuit of sustainability. The book also serves as a case study on how energy systems are adapting to the demands of a complex society. Covering topics such as environmental economics, public policy, and law, Electricity Capacity Markets provides insights into the critical role these markets play in shaping our energy landscape and addressing contemporary societal needs.
Official synopsis Publisher
Initially created as afterthoughts to competitive electricity markets, capacity markets were intended to enhance system reliability. They have evolved into massive, highly controversial, and poorly understood billion-dollar institutions. Electricity Capacity Markets examines the rationales for creating capacity markets, how capacity markets work, and how well these markets are meeting their objectives. This book will appeal to energy experts and non-experts alike, across a range of disciplines, including economics, business, engineering, public policy, and law. Capacity markets are an important and provocative topic on their own, but they also offer an interesting case study of how well our energy systems are meeting the needs of our increasingly complex society. The challenges facing capacity markets – harnessing market forces for social good, creating networks that manage complexity, and achieving sustainability – are very much core challenges for our twenty-first century advanced industrial society.
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