ELEC0018-1 Energy markets and regulation

Energy plays a key role in economic activities, making both the availability and cost of energy sources critical factors for economic development and social well-being. Consequently, governments have established policy objectives to improve the availability, affordability, and sustainability of energy.

The term ‘energy markets’ refers to a complex system in which producers, transport and distribution operators, traders, and consumers interact to achieve their respective objectives. These markets include electricity, gas, oil, coal, and other energy-related commodities, such as carbon dioxide (CO2).

The electricity, gas, oil, and carbon markets are interlinked. Oil and gas are key fuels for electricity generation in many regions, meaning their prices directly influence electricity costs. Additionally, rising CO2 prices increase the cost of electricity produced from fossil fuels, which can drive greater demand for cleaner energy alternatives.

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