Electricity retailingElectricity retailing is the final sale of electricity from generation to the end-use consumer. This is the fourth major step in the electricity delivery process, which also includes generation, transmission and distribution. Electricity retailing began at the end of the 19th century when the bodies which generated electricity for their own use made supply available to third parties. In the beginning, electricity was primarily used for street lighting and trams. The public could buy once large scale electric companies had been started.
European Economic AreaThe European Economic Area (EEA) was established via the Agreement on the European Economic Area, an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association. The EEA links the EU member states and three EFTA states (Iceland, Liechtenstein, and Norway) into an internal market governed by the same basic rules. These rules aim to enable free movement of persons, goods, services, and capital within the European single market, including the freedom to choose residence in any country within this area.
Energy liberalisationEnergy liberalisation refers to the liberalisation of energy markets, with specific reference to electricity generation markets, by bringing greater competition into electricity and gas markets in the interest of creating more competitive markets and reductions in price by privatisation. As the supply of electricity is a natural monopoly, this entails complex and costly systems of regulation to enforce a system of competition.
President of the European UnionThe official title President of the European Union (or President of Europe) does not exist, but there are a number of presidents of European Union institutions, including: the President of the European Council (since 1 December 2019, Charles Michel) the President of the European Commission (since 1 December 2019, Ursula von der Leyen) the President of the European Parliament (since 11 January 2022, Roberta Metsola) Alongside these the Council of the European Union (also known as the Council of Ministers or
Unit commitment problem in electrical power productionThe unit commitment problem (UC) in electrical power production is a large family of mathematical optimization problems where the production of a set of electrical generators is coordinated in order to achieve some common target, usually either matching the energy demand at minimum cost or maximizing revenue from electricity production. This is necessary because it is difficult to store electrical energy on a scale comparable with normal consumption; hence, each (substantial) variation in the consumption must be matched by a corresponding variation of the production.
Electric power distributionElectric power distribution is the final stage in the delivery of electricity. Electricity is carried from the transmission system to individual consumers. Distribution substations connect to the transmission system and lower the transmission voltage to medium voltage ranging between 2kV and 33kV with the use of transformers. Primary distribution lines carry this medium voltage power to distribution transformers located near the customer's premises.
LiberalizationLiberalization or liberalisation (British English) is a broad term that refers to the practice of making laws, systems, or opinions less severe, usually in the sense of eliminating certain government regulations or restrictions. The term is used most often in relation to economics, where it refers to economic liberalization, the removal or reduction of restrictions placed upon (a particular sphere of) economic activity.
Greenhouse effectThe greenhouse effect occurs when greenhouse gases in a planet's atmosphere cause some of the heat radiated from the planet's surface to build up at the planet's surface. This process happens because stars emit shortwave radiation that passes through greenhouse gases, but planets emit longwave radiation that is partly absorbed by greenhouse gases. That difference reduces the rate at which a planet can cool off in response to being warmed by its host star.
Medical prescriptionA prescription, often abbreviated or Rx, is a formal communication from a physician or other registered healthcare professional to a pharmacist, authorizing them to dispense a specific prescription drug for a specific patient. Historically, it was a physician's instruction to an apothecary listing the materials to be compounded into a treatmentthe symbol (a capital letter R, crossed to indicate abbreviation) comes from the first word of a medieval prescription, Latin (), that gave the list of the materials to be compounded.
Market townA market town is a settlement most common in Europe that obtained by custom or royal charter, in the Middle Ages, a market right, which allowed it to host a regular market; this distinguished it from a village or city. In Britain, small rural towns with a hinterland of villages are still commonly called market towns, as sometimes reflected in their names (e.g. Downham Market, Market Rasen, or Market Drayton). Modern markets are often in special halls, but this is a recent development, and the rise of permanent retail establishments has reduced the need for periodic markets.
