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Electricity Prices
Electricity pricing (also referred to as electricity tariffs or the price of electricity) can vary widely by country or by locality within a country. Electricity prices are dependent on many factors, such as the price of power generation, government taxes or subsidies, taxes, local weather patterns, transmission and distribution infrastructure, and multi-tiered industry regulation. The pricing or tariffs can also differ depending on the customer-base, typically by residential, commercial, and industrial connections. According to the U.S. Energy Information Administration (EIA), "Electricity prices generally reflect the cost to build, finance, maintain, and operate power plants and the electricity grid." Where pricing forecasting is the method by which a generator, a utility company, or a large industrial consumer can predict the wholesale prices of electricity with reasonable accuracy. Due to the complications of electricity generation, the cost to supply electricity varies min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity As A Luxury Good In Germany In 2022 - Image Impression Of A Street Photographer
Electricity is the set of physical phenomena associated with the presence and motion of matter that has a property of electric charge. Electricity is related to magnetism, both being part of the phenomenon of electromagnetism, as described by Maxwell's equations. Various common phenomena are related to electricity, including lightning, static electricity, electric heating, electric discharges and many others. The presence of an electric charge, which can be either positive or negative, produces an electric field. The movement of electric charges is an electric current and produces a magnetic field. When a charge is placed in a location with a non-zero electric field, a force will act on it. The magnitude of this force is given by Coulomb's law. If the charge moves, the electric field would be doing work on the electric charge. Thus we can speak of electric potential at a certain point in space, which is equal to the work done by an external agent in carrying a unit of p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Solar Electricity
Solar power is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV) or indirectly using concentrated solar power. Photovoltaic cells convert light into an electric current using the photovoltaic effect. Concentrated solar power systems use lenses or mirrors and solar tracking systems to focus a large area of sunlight to a hot spot, often to drive a steam turbine. Photovoltaics were initially solely used as a source of electricity for small and medium-sized applications, from the calculator powered by a single solar cell to remote homes powered by an off-grid rooftop PV system. Commercial concentrated solar power plants were first developed in the 1980s. Since then, as the cost of solar electricity has fallen, grid-connected solar PV systems have grown more or less exponentially. Millions of installations and gigawatt-scale photovoltaic power stations continue to be built, with half of new generation capacity being solar in 2021. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Bill
Fixed bill refers to an energy pricing program in which a consumer pays a predetermined amount for their total energy consumption for a given period. The price is independent of the amount of energy the customer uses or the unit price of the energy. Energy companies can offer this type of pricing by hedging the risks of fluctuating demand using weather derivatives. History The ability to provide fixed bill energy contracts in the US grew out of the deregulation of the energy industry in the 1990s. An early pioneer in this field was Equitable Gas Company. They proposed a one-year, fixed-bill natural gas contract to Allegheny County, PA public schools in 1995. The two inventors of the Equitable Gas product, Bernard Bilski and Rand Warsaw, then left Equitable and formed their own company, WeatherWise USA. Rand Warsaw is now CEO of the company. They have further developed the product and now offer a variety of fixed bill plans to energy companies under license. The energy comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Feed-in Tariff
A feed-in tariff (FIT, FiT, standard offer contract,Couture, T., Cory, K., Kreycik, C., Williams, E., (2010)Policymaker's Guide to Feed-in Tariff Policy Design National Renewable Energy Laboratory, U.S. Dept. of Energy advanced renewable tariff, or renewable energy payments) is a policy mechanism designed to accelerate investment in renewable energy technologies by offering long-term contracts to renewable energy producers. This means promising renewable energy producers an above-market price and providing price certainty and long-term contracts that help finance renewable energy investments. Typically, FITs award different prices to different sources of renewable energy in order to encourage development of one technology over another. For example, technologies such as wind power and solar PV are awarded a higher price per kWh than tidal power. FITs often include a "degression": a gradual decrease of the price or tariff in order to follow and encourage technological cost reductions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Economics
Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies. Considering the cost of energy services and associated value gives economic meaning to the efficiency at which energy can be produced. Energy services can be defined as functions that generate and provide energy to the “desired end services or states”. The efficiency of energy services is dependent on the engineered technology used to produce and supply energy. The goal is to minimise energy input required (e.g. kWh, mJ, see Units of Energy) to produce the energy service, such as lighting ( lumens), heating (temperature) and fuel (natural gas). The main sectors considered in energy economics are transportation and building, although it is relevant to a broad scale of human activities, including households and businesses at a microeconomic level and resource management and environmental impacts at a macroeconomic level. Due to diversity of issues a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity Market
In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology. A restructuring of electric power industry at the turn of the 21st century involved replacing the vertically integrated and tightly regulated "traditional" electricity market with multiple competitive markets for electricity generation, transmission, distribution, and retailing. The traditional and competitive market approaches loosely correspond to two visions of industry: the deregulation was transforming electricity from a public service (like sewerage) into a tradable good (like crude oil). As of 2020s, the traditional markets are still common in some regions, including large parts of the United Stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity Liberalization
Energy liberalisation refers to the liberalisation of energy markets, with specific reference to electricity generation markets, by bringing greater competition into electricity and gas markets in the interest of creating more competitive markets and reductions in price by privatisation. As the supply of electricity is a natural monopoly, this entails complex and costly systems of regulation to enforce a system of competition. A strong drive for liberalisation occurred in European Union energy markets at the turn of the millennium, directed by European Commission directives favouring market liberalisation promulgated in 1996, 2003, and 2009. These programmes were supported with the interest of increasing the interconnectedness of European energy markets and building the common market. Similar initiatives, to varying degrees, have been pursued in nations around the world, such as Argentina, Chile, and the United States. British model A standard model for electricity liberalisation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity Meter
North American domestic analog electricity meter. Electricity meter with transparent plastic case (Israel) North American domestic electronic electricity meter An electricity meter, electric meter, electrical meter, energy meter, or kilowatt-hour meter is a device that measures the amount of electric energy consumed by a residence, a business, or an electrically powered device. Electric meter or energy meter measures the total power consumed over a time interval. Electric utilities use electric meters installed at customers' premises for billing and monitoring purposes. They are typically calibrated in billing units, the most common one being the kilowatt hour (''kWh''). They are usually read once each billing period. When energy savings during certain periods are desired, some meters may measure demand, the maximum use of power in some interval. "Time of day" metering allows electric rates to be changed during a day, to record usage during peak high-cost periods and of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity Billing In The UK
In the United Kingdom, an electricity supplier is a retailer of electricity. For each supply point the supplier has to pay the various costs of transmission, distribution, meter operation, data collection, tax etc. The supplier then adds in energy costs and the supplier's own charge. Regulation of the charging of customers is covered by the industry regulator Ofgem. MSP and GSP MSP kWh is the amount of electricity consumed at the 'meter supply point', which is the customer's meter. GSP kWh is obtained by multiplying the MSP kWh by the Line Loss Factor (LLF, a figure > 1) to include the amount of electricity lost when it is conducted through the distribution network, from the 'grid supply point' to the customer's meter. Some kWh elements of the bill are charged at MSP and some at GSP. The LLF for a particular supply depends on the distribution network operator (DNO) and the supply's characteristics and the time and date (day of week, season etc.). The bill The consumer pays ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demand Response
Demand response is a change in the power consumption of an electric utility customer to better match the demand for power with the supply. Until the 21st century decrease in the cost of pumped storage and batteries electric energy could not be easily stored, so utilities have traditionally matched demand and supply by throttling the production rate of their power plants, taking generating units on or off line, or importing power from other utilities. There are limits to what can be achieved on the supply side, because some generating units can take a long time to come up to full power, some units may be very expensive to operate, and demand can at times be greater than the capacity of all the available power plants put together. Demand response seeks to adjust the demand for power instead of adjusting the supply. Utilities may signal demand requests to their customers in a variety of ways, including simple off-peak metering, in which power is cheaper at certain times of the day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Of Electricity By Source
Different methods of electricity generation can incur a variety of different costs, which can be divided into three general categories: 1) wholesale costs, or all costs paid by utilities associated with acquiring and distributing electricity to consumers, 2) retail costs paid by consumers, and 3) external costs, or externalities, imposed on society. Wholesale costs include initial capital, operations & maintenance (O&M), transmission, and costs of decommissioning. Depending on the local regulatory environment, some or all wholesale costs may be passed through to consumers. These are costs per unit of energy, typically represented as dollars/megawatt hour (wholesale). The calculations also assist governments in making decisions regarding energy policy. On average the levelized cost of electricity from utility scale solar power and onshore wind power is less than from coal and gas-fired power stations, but this varies a lot depending on location. Cost metrics Levelized cost o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Return On Investment
Return on investment (ROI) or return on costs (ROC) is a ratio between net income (over a period) and investment (costs resulting from an investment of some resources at a point in time). A high ROI means the investment's gains compare favourably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments.Return On Investment – ROI , Investopedia as accessed 8 January 2013 In economic terms, it is one way of relating profits to capital invested. Purpose In business, the pur ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
