Electricity is an essential commodity traded at power exchanges. Its price is very volatile within a day and over the year. This raises questions about the effi

Electricity-contract auctions have been getting increased attention as they have emerged as a successful mechanism to procure new generation capacity and. This

`Electric energy must be treated as a commodity which can be bought, sold, and traded, taking into account its time- and space-varying values and costs.` Spot P

After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the internatio