A monopoly is a market structure where a single seller has complete control over the supply of a good or service, giving them significant market power.

In an oligopoly, the presence of a small number of large sellers leads to interdependence, as each firm's decisions can significantly impact the market outcome.

Predatory pricing is a strategy where a firm sets prices below its average cost to eliminate competition and gain market dominance.

The Herfindahl-Hirschman Index (HHI) is a measure of market concentration, calculated by summing the squared market shares of all firms in the industry.

Peak demand in energy economics refers to the highest level of electricity demand during a specific period, typically measured in megawatts (MW).

Solar energy is a renewable source that does not emit greenhouse gases during electricity generation, as it utilizes sunlight to produce electricity.

Externalities in energy economics are costs or benefits that indirectly affect third parties, such as environmental impacts or health effects resulting from energy production or consumption.

Energy efficiency standards are policies that set minimum energy performance requirements for appliances, buildings, or industrial equipment, aiming to reduce energy consumption.

Energy independence refers to a country's ability to meet its energy needs through domestic production, reducing reliance on imports and increasing self-sufficiency.

In a bilateral monopoly, a single buyer (monopsony) purchases electricity from multiple generators (monopoly), leading to a unique market structure.

Energy justice encompasses equal access to energy resources and services, fair distribution of energy benefits and burdens, minimizing environmental impacts, and promoting energy efficiency and conservation.

A cap-and-trade system sets a limit on greenhouse gas emissions and allows trading of emission permits, providing incentives for emission reductions.

Energy security refers to a country's ability to meet its energy needs without disruption, ensuring a reliable and affordable supply of energy.

Perfect competition is a market structure where there are many buyers and sellers, with no single buyer or seller having significant market power, leading to a competitive market outcome.

Energy poverty encompasses lack of access to reliable and affordable energy services, high energy prices, energy insecurity, and energy inefficiency.