Review of the Role of Energy Pricing Policies in Electricity Retail Market

Changes in the current electrical power system operation significantly impact the electricity market, and has motivated this study on the evaluation of the transition in energy pricing reforms. This paper reviews the market design, operation and retail tariff structures of electricity supply, distributed energy sources, reliability, efficiency, energy supply and demand response, and recommends that energy policymakers of developing nations to prioritize decentralization of their energy sectors, encourage independent power producers (IPPs) to participate in their distribution generation, and incorporate renewable energy sources in their energy mix.