What is the electric power industry?

The electric power industry covers the generation, transmission, distribution and sale of electric power to the general public and industry. The commercial distribution of electric power started in 1882 when electricity was produced for electric lighting.

How many processes are there in the electric power industry?

The electric power industry is commonly split up into four processes. These are electricity generation such as a power station, electric power transmission, electricity distribution and electricity retailing.

What is electric power distribution?

Electric power distribution is the final stage in the delivery of electric power; it carries electricity from the transmission system to individual consumers. Distribution substations connect to the transmission system and lower the transmission voltage to medium voltage ranging between 2 kV and 35 kV with the use of transformers.

Is the electric power industry preparing for a tripling of US electricity demand?

The electric power industry is preparing for as much as a tripling of US electricity demand within the next couple of decades. 18 Electrification of the transportation, building, and industrial segments continues to pick up speed in many parts of the country.

How can or/MS scholars contribute to the electric power industry?

Although there are large literatures devoted to the electric power industry that focus on technical issues and literatures that focus on policy matters, we believe that OR/MS scholars can play an important role by bridging these focal areas and by recognizing the mutually interacting and dual-causality dynamics between operations and public policy.

Who owns electric power?

In some places, all electric power generation, transmission and distribution is provided by a government controlled organization. Other regions have private or investor-owned utility companies, city or municipally owned companies, cooperative companies owned by their own customers, or combinations.