The reform process of the electric power system is ongoing in Japan. The retail market will be fully liberalized in 2016, and vertical unbundling of generation, transmission/distribution, and retail sectors will be implemented in 2018-2020. There are still a number of issues in designing effective wholesale, retail, and balancing markets to ensure security and efficiency of the power system. This project aims to provide useful policy implications by conducting theoretical, empirical, and simulation analysis of the electricity markets primarily based on economics along with an engineering perspective.
December 1, 2015 - November 30, 2017