Electric Power Market

An electric power market is a system where electricity is bought and sold between generators and consumers. Power generators produce electricity, which is then transmitted through the grid to homes, businesses, and industries. Market mechanisms set prices based on supply and demand, encouraging efficient production and usage. Participants include utility companies, independent generators, and consumers, sometimes using spot markets for immediate needs or contracts for future supply. The goal is to ensure reliable, affordable electricity while promoting competition and innovation within the industry.