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Examoogle • User • info@examoogle.com • EE-2024-8821
Chapter 1 of 12 • Page 1 of 248🔒 Protected PDF • Watermarked
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“Deregulation is a restructuring of the rules and economic incentives that governing authority set up to control and drive the electrical power industry” is quoted by
John Grainger
William Stevenson
L. Phillipson and H.L. Willis
None of them
L. Phillipson and H.L. Willis
Quick Summary: The definition provided is a foundational concept in power system economics, explicitly credited to L. Phillipson and H.L. Willis in their comprehensive work 'Understanding Electric Utilities and Deregulation'. It describes the transition from vertically integrated, state-regulated utility monopolies to competitive market-driven models.
The definition provided is a foundational concept in power system economics, explicitly credited to L. Phillipson and H.L. Willis in their comprehensive work 'Understanding Electric Utilities and Deregulation'. It describes the transition from vertically integrated, state-regulated utility monopolies to competitive market-driven models.
MarketPrice=MarginalCost+CongestionCost+Losses
TotalCost=GenerationCost+TransmissionTariff+AncillaryServiceCost
Deregulation works by unbundling the traditional utility services of generation, transmission, and distribution. By separating these, it creates competition in generation and retail sectors, while transmission and distribution remain regulated 'natural monopolies' that provide open-access grids for all participants.
Unbundling of utility services (Generation, Transmission, Distribution).
Transition from cost-of-service regulation to competitive price setting.
Introduction of Independent System Operators (ISO) and Regional Transmission Organizations (RTO).
Focus on enhancing efficiency through market competition.
Increased operational efficiency through market competition.
Lower prices for consumers due to supply-side competition.
Innovation in service delivery and technology adoption.
Complexity in maintaining grid reliability and stability.
Risk of market manipulation and price volatility.
Under-investment in transmission infrastructure if not properly incentivized.
Competitive wholesale electricity markets.
Retail power choice programs.
Grid integration of distributed energy resources (DERs).
John Grainger and William Stevenson are renowned authors of 'Power System Analysis', a standard text on physical power flow and system modeling, not primarily on deregulation policy.
Phillipson and Willis specifically focused their research on the socio-economic and regulatory restructuring of utilities post-1990s.
C is correct — The definition reflects the regulatory and economic transformation of power utilities as defined by L. Phillipson and H.L. Willis.
In competitive exams, remember that Grainger and Stevenson are associated with technical system modeling, whereas Phillipson and Willis are cited for the regulatory and economic framework of restructured power systems.