Power

Power: A Practical Handbook is aimed at anyone looking for a single source to understand the key issues relevant to the power sector, with an emphasis on the practical application of those issues in the real world. It offers a guide to understanding the commercial, economic and legal principles that underpin the sector.

With world electricity demand expected to double by 2030, the power sector is under increasing pressure to modernise and rise to the challenge of meeting global needs. While some countries are pressing ahead with conventional fossil-fuel based generation as a means of quickly meeting the needs of their rapidly expanding economies, in other countries the push for decarbonisation and diversification of the energy supply mix is beginning to take place at a rapid pace. The pace of expansion, technological challenges and political and social objectives are transforming the power sector.Power: A Practical Handbook is aimed at readers looking for a single source which focuses on the key issues, with an emphasis on the practical approach to those issues in the real world. It is a comprehensive guide to understanding the commercial, economic and legal principles that underpin the power sector.Topics covered include significant energy policies in recent years; an explanation of industry structures and legal frameworks; economic perspectives on market liberalisation and the regulation of monopoly power networks; a look at conventional and renewables generation technologies and the issues arising from those; and smart meters and smart grids.The book also covers subjects connected to the development of power projects including financing issues, construction, operation and maintenance arrangements, fuel supply agreements, approaches to power offtake, electricity trading and environmental issues.Edited by Munir Hassan, Partner and Head of Clean Energy at CMS, and Rajan Phakey, a Partner at Dentons, the book includes contributions by leading experts from energy utilities, project developers, lawyers, economists, academics and financiers.

Foreword 5Dame Fiona Woolf, DBEPart I: Introduction 7Munir HassanCMS LondonPart II: Industry structures and regulationPower industries: structures and legal frameworks 9Marianne AntonMunir HassanCMS LondonDalia Majumder-RussellLinklatersMarket liberalisation and organisation: an economic perspective 27Nick ElmsFrontier EconomicsPart III: Technologies and issues arising from themIntroduction to nuclear power 49Rupert CowenJonathan LeechProspect LawConventional power plants: technical and commercial issues 67Milagros Miranda RojasFormer policy director at the World Coal AssociationRenewable energy: from energy hunter-gatherers to energy farmers 85Thomas LeonardDNV GL EnergyNew renewable technologies 95Nicholas KellyKelly LegalDalia Majumder-RussellLinklatersPart IV: Developing power projectsPower financing 121Hugo CoetzeeCMS LondonConstruction 133Ian DalleyDentonsO&M contracts and long-term service arrangements 147Nicholas HilderAshurst LLPEnvironmental and planning issues 163Angus EversShoosmithsPart V: Fuel supply, offtake and trading arrangementsIndependent power projects and offtake arrangements 179Rajan PhakeyDentonsTrading electricity 199Rajan PhakeyDentonsNeil SchofieldFinancial Markets Training LtdPart VI: Electricity networks: a broader perspectiveRegulating monopoly infrastructure: an economic perspective 217Phil BurnsFrontier EconomicsPower to the people: the Smart Grid and the democratisation of energy 235Thomas LeonardFrits VerheijDNV GL EnergyJohn ScottChiltern PowerAbout the authors 247