The design of electricity markets varies around the world. In regulated markets a central governing body, such as a public utility commission, sets the rates for electricity and approves or disapproves capital investments in new facilities. In deregulated systems, market forces set rates and make those decisions more freely. Within those two broad categories exist …
The grid is the world’s largest engineered machine. This incredible invention spans continents while reliably transporting electricity from power plants to consumers. Although today the grid is very advanced, its basic design was determined by a fierce rivalry between George Westinghouse and Thomas Edison in the 1880s. If they were alive today, they would recognize …
At the heart of the electricity system is the collection of power plants that generate electricity. While electricity experiments had occurred with low-voltage spark generators starting in the 1700s, it wasn’t until the late 1800s that large-scale power plants were built to provide high-voltage electricity to entire neighborhoods and towns. Today these power plants take …
Electricity is one of the most important forms of energy. Because it is clean, quiet and easy to control at its end use, electricity is the preferred form of energy among affluent nations. Electricity enables a higher quality of life, as many devices used for water treatment, food preservation, air conditioning, communications, and indoor lighting …