Abstract
AbstractThe purpose of this chapter is to compare the process behind the traditional centralised electricity system with a more complex system that decentralises some functions, opens new market opportunities and enables consumers to become more active. In doing so, this chapter begins by exploring and describing how the traditional centralised system works by characterising the main activities of which it is composed. This is followed by discussion about liberalisation in the electricity industry which introduced more specific characteristics into the power system. Once the traditional system has been explained, the second part of this chapter will focus on the characteristics of the emerging technologies and functionalities that empower consumers. Such technologies are distributed generation technologies, smart grids, demand response, smart meters and advanced metering infrastructures that enable consumers to produce their own energy, manage their consumption patterns, sell the energy back to the system and interact with other industry participants Thereby, this chapter will explore the emerging functionalities and technologies and the benefits and challenges to the power system.
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