Power systems generate and distribute electricity, including various sources like coal, natural gas, renewables, and nuclear plants. Electricity markets facilitate the buying and selling of electricity, influencing investment decisions in power generation and allowing consumers to choose suppliers and pricing plans. The integration of renewable energy sources and distributed energy resources is reshaping these systems and markets, requiring advanced grid management and storage solutions for stability and affordability. Collaborative efforts between power systems and electricity markets are essential for meeting growing energy demands and addressing environmental concerns.