Transmission congestionElectricity transmission congestion is a condition of the electrical grid that prevents the accepted or forecasted load schedules from being implemented due to the grid configuration and equipment performance limitations. In simple terms, congestion occurs when overloaded transmission lines are unable to carry additional electricity flow due to the risk of overheating and the transmission system operator (TSO) has to direct the providers to adjust their dispatch levels to accommodate the constraint or in an electricity market a power plant can produce electricity at a competitive price but cannot transmit the power to a willing buyer.
Electricity marketIn a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology.
Electric power transmissionElectric power transmission is the bulk movement of electrical energy from a generating site, such as a power plant, to an electrical substation. The interconnected lines that facilitate this movement form a transmission network. This is distinct from the local wiring between high-voltage substations and customers, which is typically referred to as electric power distribution. The combined transmission and distribution network is part of electricity delivery, known as the electrical grid.
Regional transmission organization (North America)A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) that coordinates, controls, and monitors a multi-state electric grid. The transfer of electricity between states is considered interstate commerce, and electric grids spanning multiple states are therefore regulated by the Federal Energy Regulatory Commission (FERC). The voluntary creation of RTOs was initiated by FERC Order No. 2000, issued on December 20, 1999.
Transmission system operatorFile:Electricity grid simple- North America.svg|thumb|380px|right|Simplified diagram of AC electricity grid from generation stations to consumers in North America rect 2 243 235 438 [[Power station]] rect 276 317 412 556 [[Transformer]] rect 412 121 781 400 [[Electric power transmission]] rect 800 0 980 165 [[Transformer]] desc bottom-left A transmission system operator (TSO) is an entity entrusted with transporting energy in the form of natural gas or electrical power on a national or regional level, using fixed infrastructure.
Financial marketA financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets as commodities. The term "market" is sometimes used for what are more strictly exchanges, organizations that facilitate the trade in financial securities, e.g., a stock exchange or commodity exchange.
Financial regulationFinancial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law.
Fossil fuel phase-outFossil fuel phase-out is the gradual reduction of the use and production of fossil fuels to zero, to reduce deaths and illness from air pollution, limit climate change, and strengthen energy independence. It is part of the ongoing renewable energy transition. Although many countries are shutting down coal-fired power stations, electricity generation is not moving off coal fast enough to meet climate goals. Many countries have set dates to stop selling petrol and diesel cars and trucks, but a timetable to stop burning fossil gas has not yet been agreed.
World energy supply and consumptionWorld energy supply and consumption refers to the global production and consumption of primary energy. Energy can be consumed in various different forms, as processed fuels or electricity, or for various different purposes, like for transportation or electricity generation. Energy production and consumption are an important part of the economy. This topic includes heat, but not energy from food. This article provides a brief overview of energy supply and consumption, using statistics summarized in tables, of the countries and regions that produce and consume the most energy.
Energy securityEnergy security is the association between national security and the availability of natural resources for energy consumption (as opposed to household energy insecurity). Access to cheaper energy has become essential to the functioning of modern economies. However, the uneven distribution of energy supplies among countries has led to significant vulnerabilities. International energy relations have contributed to the globalization of the world leading to energy security and energy vulnerability at the same time.
Coal phase-outCoal phase-out is an environmental policy intended to stop using the combustion of coal in coal-burning power plants, and is part of fossil fuel phase-out. Coal is the most carbon-intensive fossil fuel, therefore phasing it out is critical to limiting climate change and keeping global warming to 1.5 °C as laid out in the Paris Climate Agreement. The International Energy Agency (IEA) estimates that coal is responsible for over 30% of the global average temperature increase above pre-industrial levels.
Energy supplyEnergy supply is the delivery of fuels or transformed fuels to point of consumption. It potentially encompasses the extraction, transmission, generation, distribution and storage of fuels. It is also sometimes called energy flow. This supply of energy can be disrupted by several factors, including imposition of higher energy prices due to action by OPEC or other cartel, cum, political disputes, economic disputes, or physical damage to the energy infrastructure due to terrorism.
Energy developmentEnergy development is the field of activities focused on obtaining sources of energy from natural resources. These activities include the production of renewable, nuclear, and fossil fuel derived sources of energy, and for the recovery and reuse of energy that would otherwise be wasted. Energy conservation and efficiency measures reduce the demand for energy development, and can have benefits to society with improvements to environmental issues.
Primary energyPrimary energy (PE) is the energy found in nature that has not been subjected to any human engineered conversion process. It encompasses energy contained in raw fuels and other forms of energy, including waste, received as input to a system. Primary energy can be non-renewable or renewable. Primary energy is used in energy statistics in the compilation of energy balances, as well as in the field of energetics. In energetics, a primary energy source (PES) refers to the energy forms required by the energy sector to generate the supply of energy carriers used by human society.
Electric power industryThe electric power industry covers the generation, transmission, distribution and sale of electric power to the general public and industry. The commodity sold is actually energy, not power, e.g. consumers pay for kilowatt-hours, power multiplied by time, which is energy. The commercial distribution of electricity started in 1882 when electricity was produced for electric lighting. In the 1880s and 1890s, growing economic and safety concerns lead to the regulation of the industry.
Single marketA single market, sometimes called common market or internal market, is a type of trade bloc in which most trade barriers have been removed (for goods) with some common policies on product regulation, and freedom of movement of the factors of production (capital and labour) and of enterprise and services. The goal is that the movement of capital, labour, goods, and services between the members is as easy as within them. The physical (borders), technical (standards) and fiscal (taxes) barriers among the member states are removed to the maximum extent possible.
Power outageA power outage (also called a powercut, a power out, a power failure, a power blackout, a power loss, or a blackout) is the loss of the electrical power network supply to an end user. There are many causes of power failures in an electricity network. Examples of these causes include faults at power stations, damage to electric transmission lines, substations or other parts of the distribution system, a short circuit, cascading failure, fuse or circuit breaker operation.
Bank regulationBank regulation is a form of government regulation which subjects banks to certain requirements, restrictions and guidelines, designed to create market transparency between banking institutions and the individuals and corporations with whom they conduct business, among other things. As regulation focusing on key factors in the financial markets, it forms one of the three components of financial law, the other two being case law and self-regulating market practices.
Stock marketA stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind. The total market capitalization of all publicly traded securities worldwide rose from US$2.
Commodity marketA commodity market is a market that trades in the primary economic sector rather than manufactured products, such as cocoa, fruit and sugar. Hard commodities are mined, such as gold and oil. Futures contracts are the oldest way of investing in commodities. Commodity markets can include physical trading and derivatives trading using spot prices, forwards, futures, and options on futures. Farmers have used a simple form of derivative trading in the commodity market for centuries for price risk management.
