Handbook on electricity markets With twenty two chapters written by leading international experts this volume represents the most detailed and comprehensive Handbook on electricity markets ever published. It covers all dimensions of electricity markets: wholesale and retail; renewable electricity sources; the electrification of mobility heating and cooling; and recent innovations such as distributed generation electrical energy storage demand response and digital platforms that are disrupting the industry. The benefits as well as the limits of open markets and competition are assessed at the level of underlying principles and with reference to specific cases including the UK PJM Interconnection Texas Australia Scandinavia continental Europe and China. The details of electricity market designs are analysed and discussed. The book also considers new emerging business models as well as the impact of electricity sector policy priorities such as universal access and deep decarbonization. This Handbook is intended to be used and useful. Students and young professionals will find the information they need to enter the field. Researchers experienced professionals and public decision makers will get a comprehensive update on the topical issues in electricity markets that will guide them through the important developments the sector is witnessing Contents: Introduction to the handbook on electricity markets Jean Michel Glachant Paul L. Joskow and Michael G. Pollitt Part I: Taking stock: the legacy 2. Strengths and weaknesses of traditional arrangements for electricity supply Richard Schmalensee 3. Optimal wholesale pricing and investment in generation: The basics Paul L. Joskow and Thomas Olivier L.autier 4. Wholesale electricity market design Frank A. Wolak 5. The evolution of competitive retail electricity markets Stephen Littlechild 6. Strengths and weaknesses of the British market model David Newbery 7. Strengths and weaknesses of the pjm market model William W. Hogan 8. Ercot: Success (so far) and lessons learned Ross Baldick Shmuel S. Oren Eric S. Schubert and Kenneth Anderson 9. Lessons from australias national electricity market 1998 2018: Strengths and weaknesses of the reform experience Paul Simshauser 10. Strengths and weaknesses of the nordic market model Chlo. Le Coq and Sebastian Schwenen 11. The evolution of the European model for electricity markets Fabien Roques Part II: Adapting to new technologies and new policy priorities 12. New technologies on the supply side Nils May and Karsten Neuhoff 13. New technologies on the demand side Fereidoon Sioshansi 14. Tools and policies to promote decarbonization of the electricity sector Kathryne Cleary Carolyn Fischer and Karen Palmer 15. Shifting supply as well as demand: The new economics of electricity with high renewables Richard Green 16. The future design of the electricity market Michael G. Pollitt 17. New business models in the electricity sector Jean Michel Glachant 18. Electrifying transport: Issues and opportunities Bentley C. Clinton Christopher R. Knittel and Konstantinos Metaxoglou 19. Electrification of residential and commercial heating Mathilde Fajardy and David M. Reiner 20. Harnessing the power of integration to achieve universal electricity access: The case for the integrated distribution framework Ignacio J. P.rez Arriaga Divyam Nagpal Gr.goire Jacquot and Robert Stoner 21. Reforming Chinas electricity industry: National aspiration bureaucratic empires local interests Xu Yi chong 22. The evolution of electricity sectors in Africa: Ongoing obstacles and emerging opportunities to reach universal targets Vivien Foster Anton Eberhard and Gabrielle Dyson Index.