A monopoly is a market structure where a single seller controls a large portion of the market, giving them significant market power.

In an oligopoly, high barriers to entry, few large firms, and homogeneous products contribute to the interdependence among firms.

Energy regulation aims to achieve multiple goals, including promoting competition, protecting consumers, and ensuring reliable and affordable energy supply.

Antitrust laws are legal frameworks designed to prevent anti-competitive practices and promote competition in markets, including energy markets.

A renewable portfolio standard (RPS) is a policy mechanism that requires electricity providers to generate a certain percentage of their electricity from renewable energy sources.

In a deregulated energy market, the independent system operator (ISO) is responsible for managing the transmission grid, ensuring reliable and efficient electricity flow.

Demand-side management (DSM) programs aim to reduce peak electricity demand by encouraging consumers to shift their energy usage to off-peak hours or adopt energy-efficient technologies.

Perfect competition is a market structure where there are many buyers and sellers, homogeneous products, and perfect information, leading to a highly competitive market.

Price caps are regulatory mechanisms that limit the maximum price that can be charged for a particular energy product or service, aiming to protect consumers from excessive pricing.

Vertically integrated energy companies engage in multiple stages of the energy supply chain, including exploration, production, refining, generation, transmission, distribution, and retailing.

Energy efficiency policies aim to reduce energy consumption by encouraging the adoption of energy-efficient technologies and practices, leading to lower energy demand.

Price caps are regulatory mechanisms that limit the maximum price that can be charged for a particular energy product or service.

The transmission grid is a network of high-voltage power lines that enables the efficient flow of electricity from generators to consumers.

In a deregulated energy market, the retail electricity provider (REP) is responsible for selling electricity to consumers, offering various plans and pricing options.