A comprehensive overview of the deregulation process that has been developed till now has been presented in this book. The restructured electricity markets have been established in various degrees and forms in many countries. Unlike other sectors of the economy, restructuring of the electric utility industry requires a careful analysis because of the nature of the real-time operations. This book addresses the problems inherent in such a task in a cohesive manner.The book is aimed at a wide range of audienceâ€"electric utility personnel involved in scheduling, dispatch, grid operations and related activities, personnel involved in energy trading businesses and electricity markets, institutions involved in energy sector financing. Many technical, economic and regulatory questions related to making services market-based are addressed and transmission provision-related market power problems are analyzed to an extent.The topics in 10 chapters discussed include the restructuring process; currently evolving market structures; mechanisms for implementation of the market requests; price incentives and transaction adjustments and secure and optimal operation of the system under open access. To supplement the topics presented, 10 Appendices are included.This book will be an invaluable resource for power systems engineers, educators, system operators, managers, planners and researchers working in the field. The book may be used for a one-semester graduate or under-graduate course, as well.