Electricity Trading in Energy Market Integration: A Theoretical Review

This paper surveys theory and practice on how a larger and integrated energy market can propel electricity trading through economies of scale. We make a systematic presentation of theories and methods used by various scholars to generate knowledge on integrated electricity markets. We discuss paradi...

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Bibliographic Details
Published in:Energies (Basel) 2023-01, Vol.16 (1), p.103
Main Authors: Rubanda, Muhumuza Ezra, Senyonga, Livingstone, Ngoma, Mohammed, Adaramola, Muyiwa S.
Format: Article
Language:English
Subjects:
Costs
Debates
Domestic markets
Economies of scale
Electric power production
Electricity
Electricity distribution
Energy
Energy industry
energy market integration (EMI)
energy trade gaming
Energy trading
Energy utilization
price convergence (PC)
Public good
Research methodology
Search strategies
Sustainability
Systematic review
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Summary:This paper surveys theory and practice on how a larger and integrated energy market can propel electricity trading through economies of scale. We make a systematic presentation of theories and methods used by various scholars to generate knowledge on integrated electricity markets. We discuss paradigms, concepts, and practices emanating from the complex topic of a unified electricity market with an intent to identify gaps. We conclude that electricity trading in EMI has a propensity to drive both economic integration and sustainable energy access; that crafting ways and means for integrating cross-border systems without sacrificing the local economy could make the idea of EMI more palatable to partner countries; and that adoption of ex ante studies that are non-data oriented could improve the design of upcoming regional electricity markets.
ISSN:1996-1073
1996-1073
DOI:10.3390/en16010103