Fundamentals of Power System Economics
Fundamentals of Power System Economics

Author: Daniel S. Kirschen

Publisher: John Wiley & Sons

Published: 2018-07-04

Total Pages: 344

ISBN-13: 1119213258

DOWNLOAD EBOOK

A new edition of the classic text explaining the fundamentals of competitive electricity markets—now updated to reflect the evolution of these markets and the large scale deployment of generation from renewable energy sources The introduction of competition in the generation and retail of electricity has changed the ways in which power systems function. The design and operation of successful competitive electricity markets requires a sound understanding of both power systems engineering and underlying economic principles of a competitive market. This extensively revised and updated edition of the classic text on power system economics explains the basic economic principles underpinning the design, operation, and planning of modern power systems in a competitive environment. It also discusses the economics of renewable energy sources in electricity markets, the provision of incentives, and the cost of integrating renewables in the grid. Fundamentals of Power System Economics, Second Edition looks at the fundamental concepts of microeconomics, organization, and operation of electricity markets, market participants’ strategies, operational reliability and ancillary services, network congestion and related LMP and transmission rights, transmission investment, and generation investment. It also expands the chapter on generation investments—discussing capacity mechanisms in more detail and the need for capacity markets aimed at ensuring that enough generation capacity is available when renewable energy sources are not producing due to lack of wind or sun. Retains the highly praised first edition’s focus and philosophy on the principles of competitive electricity markets and application of basic economics to power system operating and planning Includes an expanded chapter on power system operation that addresses the challenges stemming from the integration of renewable energy sources Addresses the need for additional flexibility and its provision by conventional generation, demand response, and energy storage Discusses the effects of the increased uncertainty on system operation Broadens its coverage of transmission investment and generation investment Updates end-of-chapter problems and accompanying solutions manual Fundamentals of Power System Economics, Second Edition is essential reading for graduate and undergraduate students, professors, practicing engineers, as well as all others who want to understand how economics and power system engineering interact.

Fundamentals of Power System Economics
Fundamentals of Power System Economics

Author: Daniel S. Kirschen

Publisher: John Wiley & Sons

Published: 2018-09-24

Total Pages: 346

ISBN-13: 111921324X

DOWNLOAD EBOOK

A new edition of the classic text explaining the fundamentals of competitive electricity marketsnow updated to reflect the evolution of these markets and the large scale deployment of generation from renewable energy sources The introduction of competition in the generation and retail of electricity has changed the ways in which power systems function. The design and operation of successful competitive electricity markets requires a sound understanding of both power systems engineering and underlying economic principles of a competitive market. This extensively revised and updated edition of the classic text on power system economics explains the basic economic principles underpinning the design, operation, and planning of modern power systems in a competitive environment. It also discusses the economics of renewable energy sources in electricity markets, the provision of incentives, and the cost of integrating renewables in the grid. Fundamentals of Power System Economics, Second Edition looks at the fundamental concepts of microeconomics, organization, and operation of electricity markets, market participants strategies, operational reliability and ancillary services, network congestion and related LMP and transmission rights, transmission investment, and generation investment. It also expands the chapter on generation investmentsdiscussing capacity mechanisms in more detail and the need for capacity markets aimed at ensuring that enough generation capacity is available when renewable energy sources are not producing due to lack of wind or sun. Retains the highly praised first editions focus and philosophy on the principles of competitive electricity markets and application of basic economics to power system operating and planning Includes an expanded chapter on power system operation that addresses the challenges stemming from the integration of renewable energy sources Addresses the need for additional flexibility and its provision by conventional generation, demand response, and energy storage Discusses the effects of the increased uncertainty on system operation Broadens its coverage of transmission investment and generation investment Supports self-study with end-of-chapter problems and instructors with solutions manual via companion website Fundamentals of Power System Economics, Second Edition is essential reading for graduate and undergraduate students, professors, practicing engineers, as well as all others who want to understand how economics and power system engineering interact.

Power System Economics
Power System Economics

Author: Steven Stoft

Publisher: Wiley-IEEE Press

Published: 2002-05-28

Total Pages: 498

ISBN-13: 9780471150404

DOWNLOAD EBOOK

The first systematic presentation of electricity market design-from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues-such as why today's markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and engineering policies cause boom-bust investment swings and provides guidance and tools for fixing broken markets. It also takes a provocative look at the operation of pools and power exchanges. * Part 1 introduces key economic, engineering and market design concepts. * Part 2 links short-run reliability policies with long-run investment problems. * Part 3 examines classic designs for day-ahead and real-time markets. * Part 4 covers market power, and * Part 5 covers locational pricing, transmission right and pricing losses. The non-technical introductions to all chapters allow easy access to the most difficult topics. Steering an independent course between ideological extremes, it provides background material for engineers, economists, regulators and lawyers alike. With nearly 250 figures, tables, side bars, and concisely-stated results and fallacies, the 44 chapters cover such essential topics as auctions, fixed-cost recovery from marginal cost, pricing fallacies, real and reactive power flows, Cournot competition, installed capacity markets, HHIs, the Lerner index and price caps. About the Author Steven Stoft has a Ph.D. in economics (U.C. Berkeley) as well as a background in physics, math, engineering, and astronomy. He spent a year inside FERC and now consults for PJM, California and private generators. Learn more at www.stoft.com.

Power System Economic and Market Operations
Power System Economic and Market Operations

Author: Jin Zhong

Publisher: CRC Press

Published: 2018-01-12

Total Pages: 169

ISBN-13: 1351180053

DOWNLOAD EBOOK

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

Power System Fundamentals
Power System Fundamentals

Author: Pedro Ponce

Publisher: CRC Press

Published: 2017-12-04

Total Pages: 396

ISBN-13: 1351371827

DOWNLOAD EBOOK

Smart grids are linked with smart homes and smart meters. These smart grids are the new topology for generating, distributing, and consuming energy. If these smart devices are not connected in a smart grid, then they cannot work properly; hence, the conventional power systems are swiftly changing in order to improve the quality of electrical energy. This book covers the fundamentals of power systems—which are the pillars for smart grids —with a focus on defining the smart grid with theoretical and experimental electrical concepts. Power System Fundamentals begins by discussing electric circuits, the basic systems in smart grids, and finishes with a complete smart grid concept. The book allows the reader to build a foundation of understanding with basic and advanced exercises that run on simulation before moving to experimental results. It is intended for readers who want to comprehensively cover both the basic and advanced concepts of smart grids.

Electricity Markets and Power System Economics
Electricity Markets and Power System Economics

Author: Deqiang Gan

Publisher: CRC Press

Published: 2013-11-12

Total Pages: 212

ISBN-13: 1466501707

DOWNLOAD EBOOK

After the first power plant in history was commissioned for commercial operation by Thomas Edison on Pearl Street in New York in 1882, electricity was sold as a consumer product at market prices. After a period of rapid development, electricity had become such a fundamental product that regulation was believed to be necessary. Since then, the power

Renewable and Efficient Electric Power Systems
Renewable and Efficient Electric Power Systems

Author: Gilbert M. Masters

Publisher: John Wiley & Sons

Published: 2005-01-03

Total Pages: 676

ISBN-13: 0471668834

DOWNLOAD EBOOK

This is a comprehensive textbook for the new trend of distributed power generation systems and renewable energy sources in electric power systems. It covers the complete range of topics from fundamental concepts to major technologies as well as advanced topics for power consumers. An Instructor's Manual presenting detailed solutions to all the problems in the book is available from the Wiley editorial department -- to obtain the manual, send an email to [email protected]

Handbook of Power System Engineering
Handbook of Power System Engineering

Author: Yoshihide Hase

Publisher: John Wiley & Sons

Published: 2007-06-13

Total Pages: 574

ISBN-13: 0470033665

DOWNLOAD EBOOK

Maintaining the reliable and efficient generation, transmission and distribution of electrical power is of the utmost importance in a world where electricity is the inevitable means of energy acquisition, transportation, and utilization, and the principle mode of communicating media. Our modern society is entirely dependent on electricity, so problems involving the continuous delivery of power can lead to the disruption and breakdown of vital economic and social infrastructures. This book brings together comprehensive technical information on power system engineering, covering the fundamental theory of power systems and their components, and the related analytical approaches. Key features: Presents detailed theoretical explanations of simple power systems as an accessible basis for understanding the larger, more complex power systems. Examines widely the theory, practices and implementation of several power sub-systems such as generating plants, over-head transmission lines and power cable lines, sub-stations, including over-voltage protection, insulation coordination as well as power systems control and protection. Discusses steady-state and transient phenomena from basic power-frequency range to lightning- and switching-surge ranges, including system faults, wave-form distortion and lower-order harmonic resonance. Explains the dynamics of generators and power systems through essential mathematical equations, with many numerical examples. Analyses the historical progression of power system engineering, in particular the descriptive methods of electrical circuits for power systems. Written by an author with a wealth of experience in the field, both in industry and academia, the Handbook of Power System Engineering provides a single reference work for practicing engineers, researchers and those working in industry that want to gain knowledge of all aspects of power systems. It is also valuable for advanced students taking courses or modules in power system engineering.

Power System Operations
Power System Operations

Author: Antonio J. Conejo

Publisher: Springer

Published: 2017-12-05

Total Pages: 303

ISBN-13: 3319694073

DOWNLOAD EBOOK

This textbook provides a detailed description of operation problems in power systems, including power system modeling, power system steady-state operations, power system state estimation, and electricity markets. The book provides an appropriate blend of theoretical background and practical applications, which are developed as working algorithms, coded in Octave (or Matlab) and GAMS environments. This feature strengthens the usefulness of the book for both students and practitioners. Students will gain an insightful understanding of current power system operation problems in engineering, including: (i) the formulation of decision-making models, (ii) the familiarization with efficient solution algorithms for such models, and (iii) insights into these problems through the detailed analysis of numerous illustrative examples. The authors use a modern, “building-block” approach to solving complex problems, making the topic accessible to students with limited background in power systems. Solved examples are used to introduce new concepts and each chapter ends with a set of exercises.

Economic Market Design and Planning for Electric Power Systems
Economic Market Design and Planning for Electric Power Systems

Author: James A. Momoh

Publisher: John Wiley & Sons

Published: 2009-11-19

Total Pages: 311

ISBN-13: 0470529156

DOWNLOAD EBOOK

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.