Market Operations in Electric Power Systems

Market Operations in Electric Power Systems
Title Market Operations in Electric Power Systems PDF eBook
Author Mohammad Shahidehpour
Publisher John Wiley & Sons
Pages 552
Release 2003-05-28
Genre Technology & Engineering
ISBN 0471463949

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An essential overview of post-deregulation market operations inelectrical power systems Until recently the U.S. electricity industry was dominated byvertically integrated utilities. It is now evolving into adistributive and competitive market driven by market forces andincreased competition. With electricity amounting to a $200 billionper year market in the United States, the implications of thisrestructuring will naturally affect the rest of the world. Why is restructuring necessary? What are the components ofrestructuring? How is the new structure different from the oldmonopoly? How are the participants strategizing their options tomaximize their revenues? What are the market risks and how are theyevaluated? How are interchange transactions analyzed and approved?Starting with a background sketch of the industry, this hands-onreference provides insights into the new trends in power systemsoperation and control, and highlights advanced issues in thefield. Written for both technical and nontechnical professionals involvedin power engineering, finance, and marketing, this must-haveresource discusses: * Market structure and operation of electric power systems * Load and price forecasting and arbitrage * Price-based unit commitment and security constrained unitcommitment * Market power analysis and game theory applications * Ancillary services auction market design * Transmission pricing and congestion Using real-world case studies, this timely survey offers engineers,consultants, researchers, financial managers, university professorsand students, and other professionals in the industry acomprehensive review of electricity restructuring and how itsradical effects will shape the market.

Operation of Market-oriented Power Systems

Operation of Market-oriented Power Systems
Title Operation of Market-oriented Power Systems PDF eBook
Author Yong-Hua Song
Publisher Springer Science & Business Media
Pages 474
Release 2003-07-31
Genre Business & Economics
ISBN 9781852336707

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This useful reference allows readers to compare and learn from best-practice and up-to-date information in this exciting field from Europe, the US and Australia. It shows how to overcome day-to-day and strategic engineering problems, rather than concentrating on policy and market-structural issues.

Power System Economic and Market Operations

Power System Economic and Market Operations
Title Power System Economic and Market Operations PDF eBook
Author Jin Zhong
Publisher CRC Press
Pages 169
Release 2018-01-12
Genre Science
ISBN 1351180053

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Power system operation is one of the important issues in the power industry. The book aims to provide readers with the methods and algorithms to save the total cost in electricity generation and transmission. It begins with traditional power systems and builds into the fundamentals of power system operation, economic dispatch (ED), optimal power flow (OPF), and unit commitment (UC). The book covers electricity pricing mechanisms, such as nodal pricing and zonal pricing, based on Security-Constrained ED (SCED) or SCUC. The operation of energy market and ancillary service market are also explored. "It covers a wide range of interesting topics, which could be very useful for understanding the main phenomena ruling power systems economy (such as Optimal Power Flow analysis and unit Commitments). It addresses topics widely treated in the literature, hence it is important to outline its distinctive features compared to other similar books. The book is well structured and well balanced." —Alfredo Vaccaro, University of Sannio, Italy

Economic Market Design and Planning for Electric Power Systems

Economic Market Design and Planning for Electric Power Systems
Title Economic Market Design and Planning for Electric Power Systems PDF eBook
Author James A. Momoh
Publisher John Wiley & Sons
Pages 311
Release 2009-11-19
Genre Technology & Engineering
ISBN 0470529156

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Discover cutting-edge developments in electric power systems Stemming from cutting-edge research and education activities in the field of electric power systems, this book brings together the knowledge of a panel of experts in economics, the social sciences, and electric power systems. In ten concise and comprehensible chapters, the book provides unprecedented coverage of the operation, control, planning, and design of electric power systems. It also discusses: A framework for interdisciplinary research and education Modeling electricity markets Alternative economic criteria and proactive planning for transmission investment in deregulated power systems Payment cost minimization with demand bids and partial capacity cost compensations for day-ahead electricity auctions Dynamic oligopolistic competition in an electric power network and impacts of infrastructure disruptions Reliability in monopolies and duopolies Building an efficient, reliable, and sustainable power system Risk-based power system planning integrating social and economic direct and indirect costs Models for transmission expansion planning based on reconfiguration capacitor switching Next-generation optimization for electric power systems Most chapters end with a bibliography, closing remarks, conclusions, or future work. Economic Market Design and Planning for Electric Power Systems is an indispensable reference for policy-makers, executives and engineers of electric utilities, university faculty members, and graduate students and researchers in control theory, electric power systems, economics, and the social sciences.

New Technologies for Power System Operation and Analysis

New Technologies for Power System Operation and Analysis
Title New Technologies for Power System Operation and Analysis PDF eBook
Author Huaiguang Jiang
Publisher Academic Press
Pages 388
Release 2020-11-04
Genre Technology & Engineering
ISBN 0128201681

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New Technologies for Power System Operation and Analysis considers the very latest developments in renewable energy integration and system operation, including electricity markets and wide-area monitoring systems and forecasting. Helping readers quickly grasp the essential information needed to address renewable energy integration challenges, this new book looks at basic power system mathematical models, advanced renewable integration and system optimizations from transmission and distribution system sides. Sections cover wind, solar, gas and petroleum, making this a useful reference for all engineers interested in power system operation. Includes codes in MATLAB® and Python Provides a complete analysis of all new and relevant power system technologies Covers the impact on existing power system operations at the advanced level, with detailed technical insights

Restructured Electric Power Systems

Restructured Electric Power Systems
Title Restructured Electric Power Systems PDF eBook
Author Xiao-Ping Zhang
Publisher John Wiley & Sons
Pages 292
Release 2010-10-15
Genre Technology & Engineering
ISBN 1118017072

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The latest practical applications of electricity market equilibrium models in analyzing electricity markets Electricity market deregulation is driving the power energy production from a monopolistic structure into a competitive market environment. The development of electricity markets has necessitated the need to analyze market behavior and power. Restructured Electric Power Systems reviews the latest developments in electricity market equilibrium models and discusses the application of such models in the practical analysis and assessment of electricity markets. Drawing upon the extensive involvement in the research and industrial development of the leading experts in the subject area, the book starts by explaining the current developments of electrical power systems towards smart grids and then relates the operation and control technologies to the aspects in electricity markets. It explores: The problems of electricity market behavior and market power Mathematical programs with equilibrium constraints (MPEC) and equilibrium problems with equilibrium constraints (EPEC) Tools and techniques for solving the electricity market equilibrium problems Various electricity market equilibrium models State-of-the-art techniques for computing the electricity market equilibrium problems The application of electricity market equilibrium models in assessing the economic benefits of transmission expansions for market environments, forward and spot markets, short-term power system security, and analysis of reactive power impact Also featured are computational resources to allow readers to develop algorithms on their own, as well as future research directions in modeling and computational techniques in electricity market analysis. Restructured Electric Power Systems is an invaluable reference for electrical engineers and power system economists from power utilities and for professors, postgraduate students, and undergraduate students in electrical power engineering, as well as those responsible for the design, engineering, research, and development of competitive electricity markets and electricity market policy.

Local Electricity Markets

Local Electricity Markets
Title Local Electricity Markets PDF eBook
Author Tiago Pinto
Publisher Academic Press
Pages 474
Release 2021-07-03
Genre Business & Economics
ISBN 0128226668

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Local Electricity Markets introduces the fundamental characteristics, needs, and constraints shaping the design and implementation of local electricity markets. It addresses current proposed local market models and lessons from their limited practical implementation. The work discusses relevant decision and informatics tools considered important in the implementation of local electricity markets. It also includes a review on management and trading platforms, including commercially available tools. Aspects of local electricity market infrastructure are identified and discussed, including physical and software infrastructure. It discusses the current regulatory frameworks available for local electricity market development internationally. The work concludes with a discussion of barriers and opportunities for local electricity markets in the future. - Delineates key components shaping the design and implementation of local electricity market structure - Provides a coherent view on the enabling infrastructures and technologies that underpin local market expansion - Explores the current regulatory environment for local electricity markets drawn from a global panel of contributors - Exposes future paths toward widespread implementation of local electricity markets using an empirical review of barriers and opportunities - Reviews relevant local electricity market case studies, pilots and demonstrators already deployed and under implementation