Introduction
1.1 General
The electric power industry has undergone rapid and irreversible changes since the 1980s.
Traditionally, large utilities have total control in a vertically integrated system. This utility control production, transmission, and distribution in a region. According to the rules of the
monopoly market, a single utility can produce, transmit and distribute electricity in an area.
Utilities have to operate in accordance with government plans, rules, and regulations. At the
same time, they had to be assured of reasonable returns. In most parts of the world, this has led
to inefficiency and sluggish attitudes in the industry