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Preface 

This book, Fundamentals of Electricity Markets: From Monopoly to Competitive Markets, is prepared by Md Pauzi Abdullah from the Faculty of Electrical Engineering, Universiti Teknologi Malaysia (UTM), Johor Bahru. It is based on lecture materials developed and refined over more than ten years of teaching undergraduate courses on power systems and electricity markets.

The book explains the fundamentals of electricity market reform, beginning with the traditional monopoly utility model and progressing through the Single Buyer structure, Pool markets, Bilateral contracts, and Hybrid systems. It also introduces the role of transmission charges and explains how the cost of using the electricity network can be allocated among market participants.

Core concepts in this book are presented using simple language, analogies, diagrams, and worked examples. The emphasis is not only on understanding how different electricity market structures operate, but also on developing the engineering knowledge needed to analyse electricity trading while maintaining the secure and reliable operation of the power system.

Designed as a student-friendly reference, this book is suitable for undergraduate engineering students, early researchers, and professionals who wish to understand how electricity markets are structured, how electricity is traded, how access to the transmission network is managed, and how ongoing reforms are gradually reshaping the electricity supply industry in Malaysia.

[142 pages] TABLE OF CONTENT