Abstract
Energy production and use drive the world’s economies and offer hope for growth and prosperity. Yet, the extraction and use of fuels and the development of energy facilities are among the greatest threats to the global environment. The article provides about the legal, economic, and structural issues that both shape our energy practices and provide opportunities to overcome these critical problems. The article focuses primarily on the regulation and design of electricity systems and markets, since so many energy choices – the use of oil, natural gas, coal, nuclear, the green alternatives such as solar, wind, and energy conservation or “demand side management” – relate to the way we generate or deliver electricity, or avoid the need to do so. Next to the use of petroleum for transportation, electric generation is the greatest contributor to air pollution and the greatest source of greenhouse gas emissions. In addition, as urban and suburban development spread across the land, the maintenance and expansion of the electric transmission grid provide increasingly challenging land use problems. The article examines both the traditional monopoly model of regulation and evolving competitive alternatives. The course exposes about the energy resource planning, pollution management, rate design, green markets, energy efficiency, demand side management, renewable energy and climate change.
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