In a new competitive market environment, power utilities are facing many risks which did not exist in pre-liberalization era. Liberalized electricity market creates new types of risks that need special attention and new methods of risk management. This book is an attempt to summarize and explain the nature of these risks and to provide an insight to risk management in a liberalized electricity market. The book is a result of the research conducted by both authors in their master and doctoral thesis during the past five years. This book is written for economics, engineers, professionals and academic public who are interested in understanding today's electricity market issues.