Electricity
retailing is the final scale of electricity to end-users for consumption. It is
one of the steps of the electricity delivery process, which includes
generation, transmission, and distribution. When electricity is purchased from
a retail electricity company or utility firm, it is called retail electricity.
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Deregulation
creates competitiveness and cost-effectiveness that power sector needs. China
and Japan are some of the leading countries in this market that have
deregulated their electricity market. The Fukushima nuclear disaster in Japan
led to the restriction in the energy policy in the country and increased focus
toward the deregulation of the electricity market. Hence, the deregulation of
electricity across major countries is expected to fuel the growth of the global
electricity retailing market at a CAGR of 2.74% during the forecast
period.
There
is an increasing demand for electricity across the world due to urbanization
and industrialization. Therefore, it is essential to generate electricity
through innovative ways in an economically, socially, and environmentally
friendly manner. Several countries in Asia, including Japan, South Korea,
Malaysia, Singapore, the Philippines, and Thailand have opted for market
deregulation to create sustainability.
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