Answer:
Electricity is so basic to the world economy that certain electricity indices are used to
express a country's economic standing (consumption or production of electricity per capita)
and the standard of living enjoyed by a people (per capita electricity consumption in the
domestic sector). Moreover, electricity supply has special characteristics which make the
service unique as compared to other types of industry. The end product has to be delivered
instantaneously and automatically upon the consumer's demand; except for pumped
storage plants and electric batteries, technologies do not exist that can produce it
economically at uniform rates, hold it in storage in large quantities, and deliver it under
convenient schedules; insufficient capacity (shortage) or excessive capacity (idle capacity)
have negative effects on the economy; the close inter-relation with economic and social
factors imposes labour, environmental, financial and other constraints on the problem.
Careful planning of the electric sector is therefore of great importance since the decisions
to be taken involve the commitment of large resources, with potentially serious economic
risks for the electrical utility and the economy as a whole
Explanation:
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