A Simple Guide to U.S. Energy Markets for the Professional Energy Manager

A fundamentals-first overview of how U.S. power markets work—who runs them, how pricing is formed, why volatility happens, and which practical strategies energy managers can use to reduce cost and capture value.

• Who the key market players are (ISOs/RTOs, utilities, regulators) and what they do
• Core market concepts: Day-Ahead vs Real-Time, Capacity, and Locational Marginal Pricing (LMP)
• How deregulated markets impact procurement, risk, and contract strategy
• Where volatility comes from—and why flexibility (storage, demand response, controls) matters
• Practical playbook strategies: peak/capacity management, price response, DER dispatch, and VPP aggregation