With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.

This handbook serves as a guide to deploying battery energy storage technologies, specifically for distributed energy resources and flexibility resources. Battery energy storage technology is the most promising, rapidly developed technology as it provides higher efficiency and ease of control. With energy transition through decarbonization and decentralization, energy storage plays a significant role to enhance grid efficiency by alleviating volatility from demand and supply. Energy storage also contributes to the grid integration of renewable energy and promotion of microgrid.

The first systematic presentation of electricity market design-from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues-such as why today's markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and engineering policies cause boom-bust investment swings and provides guidance and tools for fixing broken markets. It also takes a provocative look at the operation of pools and power exchanges. * Part 1 introduces key economic, engineering and market design concepts. * Part 2 links short-run reliability policies with long-run investment problems. * Part 3 examines classic designs for day-ahead and real-time markets. * Part 4 covers market power, and * Part 5 covers locational pricing, transmission right and pricing losses. The non-technical introductions to all chapters allow easy access to the most difficult topics. Steering an independent course between ideological extremes, it provides background material for engineers, economists, regulators and lawyers alike. With nearly 250 figures, tables, side bars, and concisely-stated results and fallacies, the 44 chapters cover such essential topics as auctions, fixed-cost recovery from marginal cost, pricing fallacies, real and reactive power flows, Cournot competition, installed capacity markets, HHIs, the Lerner index and price caps. About the Author Steven Stoft has a Ph.D. in economics (U.C. Berkeley) as well as a background in physics, math, engineering, and astronomy. He spent a year inside FERC and now consults for PJM, California and private generators. Learn more at www.stoft.com.

Whilst financial rights have appeared as a successful ingredient in North-American power markets, they have their shortcomings both theoretically and in practice. Financial Transmission Rights: Analysis, Experiences and Prospects present a systematic and comprehensive overview of financial transmission rights (FTRS). Following a general introduction to FTRs, including chapters to explain transmission pricing and the general properties of FTRS, experts in the field provide discussions on wide scope of topics. These include: Varying perspectives on FTRS: from electrical engineers to economists, Different mathematical formulations of FTRS Financial Hedging using FTRS, and Alternative solutions to FTRs The detail, expertise and range of content makes Financial Transmission Rights: Analysis, Experiences and Prospect an essential resource for electricity market specialists both at academic and professional levels. “This is THE BOOK we were all expecting to address all key ‘Financial Transmission Rights’ issues. It is comprehensive and reader friendly. You can pick at will in its menu: more or less theory, a bit of maths or none, empirical review of real cases or numerical simulations of many feasible options. Big names rally there to delight you like: Hogan , Oren, Perez-Arriaga, Smeers, Hobbs and... Rosellón. More than a must read: a light house, a map and a survival kit.” Jean – Michel Glachant, Director Florence School, Holder Loyola de Palacio Chair, Chief-editor Economics of Energy & Environmental Policy. "In the last two decades, economists have developed a better understanding of the impact of financial rights on risk management, market power and network expansion in electricity markets, while power systems have experimented with such rights. Striking a good balance between academics and practitioners, always at the frontier of the field, written by the best experts, this volume is essential reading for all those- power systems’ managers and users, regulators, students and researchers- who want to understand the new electricity environment and predict its evolution." Jean Tirole, Toulouse School of Economics and Institute for Industrial Economics (IDEI) Further comments inside.

Legal Pathways to Deep Decarbonization in the United States provides a "legal playbook" for deep decarbonization in the United States, identifying well over 1,000 legal options for enabling the United States to address one of the greatest problems facing this country and the rest of humanity. The book is based on two reports by the Deep Decarbonization Pathways Project (DDPP) that explain technical and policy pathways for reducing U.S. greenhouse gas emissions by at least 80% from 1990 levels by 2050. This 80x50 target and similarly aggressive carbon abatement goals are often referred to as deep decarbonization, distinguished because it requires systemic changes to the energy economy. Legal Pathways explains the DDPP reports and then addresses in detail 35 different topics in as many chapters. These 35 chapters cover energy efficiency, conservation, and fuel switching; electricity decarbonization; fuel decarbonization; carbon capture and negative emissions; non-carbon dioxide climate pollutants; and a variety of cross-cutting issues. The legal options involve federal, state, and local law, as well as private governance. Authors were asked to include all options, even if they do not now seem politically realistic or likely, giving Legal Pathways not just immediate value, but also value over time. While both the scale and complexity of deep decarbonization are enormous, this book has a simple message: deep decarbonization is achievable in the United States using laws that exist or could be enacted. These legal tools can be used with significant economic, social, environmental, and national security benefits. Book Reviews "A growing chorus of Americans understand that climate change is the biggest public health, economic, and national security challenge our families have ever faced and they rightly ask, ''What can anyone do?'' Well, this book makes that answer very clear: we can do a lot as individuals, businesses, communities, cities, states, and the federal government to fight climate change. The legal pathways are many and the barriers are not insurmountable. In short, the time is now to dig deep and decarbonize." --Gina McCarthy, Former U.S. Environmental Protection Agency Administrator "Legal Pathways to Deep Decarbonization in the United States sets forth over 1,000 solutions for federal, state, local, and private actors to tackle climate change. This book also makes the math for Congress clear: with hundreds of policy options and 12 years to stop the worst impacts of climate change, now is the time to find a path forward." --Sheldon Whitehouse, U.S. Senator, Rhode Island "This superb work comes at a critical time in the history of our planet. As we increasingly face the threat and reality of climate change and its inevitable impact on our most vulnerable populations, this book provides the best and most current thinking on viable options for the future to address and ameliorate a vexing, worldwide challenge of extraordinary magnitude. Michael Gerrard and John Dernbach are two of the most distinguished academicians in the country on these issues, and they have assembled leading scholars and practitioners to provide a possible path forward. With 35 chapters and over 1,000 legal options, the book is like a menu of offerings for public consumption, showing that real actions can be taken, now and in the future, to achieve deep decarbonization. I recommend the book highly." --John C. Cruden, Past Assistant Attorney General, Environment and Natural Resources Division, U.S. Department of Justice "This book proves that we already know what to do about climate change, if only we had the will to do it. The path to decarbonization depends as much on removing legal impediments and changing outdated incentive systems as it does on imposing new regulations. There are ideas here for every sector of the economy, for every level of government, and for business and nongovernmental organizations, too, all of which should be on the table for any serious country facing the most serious of challenges. By giving us a sense of the possible, Gerrard and Dernbach and their fine authors seem to be saying two things: (1) do something; and (2) it''s possible. What a timely message, and what a great collection." --Jody Freeman, Archibald Cox Professor of Law and Founding Director of the Harvard Law School Environmental and Energy Law Program

As energy industries produce ever more data, firms are harnessing greater computing power, advances in data science, and increased digital connectivity to exploit that data. These trends have the potential to transform the way energy is produced, transported, and consumed.