Electric Power Industry in the Context of Microeconomics
This chapter analyzes the electric power industry in terms of the theory of microeconomics to show the distinctions of the electricity market from the markets of other industries. It presents basic notions of microeconomics needed for such an analysis (Sect. 3.1) and a general idea about market types that are traditionally treated in microeconomics and their interpretation as applied to the electric power industry (Sect. 3.2).