C5 Electricity Markets and Regulation
The scope of Study Committee C5 is the Analysis of the impacts on the planning and operation of electric power systems of different market approaches and solutions; and of new structures, institutions, actors and stakeholders. The role of competition and regulation in improving end-to-end efficiency of the electric power system. Areas of attention include:
- 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, transmission/distribution coordination and interactions, international harmonization, environmental and regulatory objectives etc.
- Evolution of markets and regulation from wholesale transmission focus to include retail distribution. The increasing interaction between regulation and markets throughout the electric power system value chain and the ability of markets and regulation to cater to rapid evolutions in dynamic / variable generation, demand and storage technologies and behaviours.
- Coordination of regulation, funding and trading arrangements for new assets and technologies expansion in new market structures, including the trend of decentralization of operations with distributed applications; the remaining assets coexisting with the retirement of other in utilities; the consideration of legacy trading arrangements in the new market arena.