|Title||Review of the Structure of Bulk Power Markets|
|Year of Publication||1999|
|Authors||Kirby, Brendan J., and John D. Kueck|
|Publisher||Oak Ridge National Laboratory|
|Keywords||consortium for electric reliability technology solutions (certs), energy analysis and environmental impacts department|
Historically, the bulk power market structure was dominated by vertically integrated utilities granted monopoly franchise service territories. Performance, both economic and reliability, was judged in a holistic fashion by regulators who approved tariffs that customers were obligated to pay. Restructuring seeks to introduce competition into electric power markets in order to improve economic efficiency. The impact of these changes on reliability is the subject of this report.