Description
Introduction1.1 GeneralThe electric power industry has undergone rapid and irreversible changes since the 1980s.Traditionally, large utilities have total control in a vertically integrated system. This utility control production, transmission, and distribution in a region. According to the rules of themonopoly market, a single utility can produce, transmit and distribute electricity in an area.Utilities have to operate in accordance with government plans, rules, and regulations. At thesame time, they had to be assured of reasonable returns. In most parts of the world, this has ledto inefficiency and sluggish attitudes in the industry