Electricity markets are platforms where electricity is bought and sold. They facilitate the trading of electrical power among various participants, including utilities, independent power producers, and consumers. These markets help balance supply and demand, ensuring that electricity is available when needed. In many regions, electricity markets operate in two main ways: wholesale and retail. In the wholesale market, large quantities of electricity are traded, often through auctions. The retail market allows consumers to purchase electricity directly from suppliers, often at competitive prices, promoting efficiency and innovation in the energy sector.