Technological advances in generation, transmission, distribution, and system operation are changing and will continue to change the industry in the coming years. Fully updated to reflect recent changes to regulation, structure, and technology, this second edition of <i>Understanding Electric Power Systems</i> provides a real-world view of electric power systems, how they operate, how the organizations are structured, and how electricity is regulated and priced. Written for individuals in government, business, educational institutions, this updated version of a classic explains concepts and jargon of the electric power industry to the layperson.