Electric Market Structures and the Roles of Market Participants

• What an electric market is and why markets exist
• The differences between a monopoly and competitive market structure
• The features of the physical electrical system that impact how markets are structured
• The 5 sectors of market participants and their roles
• The 4 idealized market structures and how they've been applied in the U.S.
• The market structures used in various regions of the U.S.

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• What is an electric market?
• The differences between monopoly and competitive markets
• The unique properties of electricity that affect how markets function
• The 5 sectors of market participants (electric suppliers, transmission owners and system operators, distribution companies, retail suppliers, consumers)
• The electric market transaction chain (how electricity is physically delivered and how ownership of supply changes throughout the chain)
• Market structures
  • Vertically-integrated monopoly utility
  • Single buyer with competitive generation
  • Wholesale/industrial competition
  • Complete retail competition
  • Hybrid (retail competition with default utility supply)
• Markets with ISOs and RTOs
• A look at market models by state

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• Reference materials: a list of acronyms and a glossary that you can view online with your course.
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