Review of the role of energy pricing policies in electricity retail market

Abstract: 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. Also, recommendation is presented in this paper that can be used to guide the policymakers of developing nations to decentralize their power sector, encourage independent power producers (IPPs), and incorporate renewable energy sources to improve reliability, efficiency, monitoring, and control of the electricity system