Fundamentals of Power System Economics

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Publisher : John Wiley & Sons
ISBN 13 : 1119213258
Total Pages : 344 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis Fundamentals of Power System Economics by : Daniel S. Kirschen

Download or read book Fundamentals of Power System Economics written by Daniel S. Kirschen and published by John Wiley & Sons. This book was released on 2018-07-04 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 111921324X
Total Pages : 346 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis Fundamentals of Power System Economics by : Daniel S. Kirschen

Download or read book Fundamentals of Power System Economics written by Daniel S. Kirschen and published by John Wiley & Sons. This book was released on 2018-09-24 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

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Publisher : Wiley-IEEE Press
ISBN 13 : 9780471150404
Total Pages : 498 pages
Book Rating : 4.1/5 (54 download)

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Book Synopsis Power System Economics by : Steven Stoft

Download or read book Power System Economics written by Steven Stoft and published by Wiley-IEEE Press. This book was released on 2002-05-28 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

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Publisher : CRC Press
ISBN 13 : 1351180053
Total Pages : 169 pages
Book Rating : 4.3/5 (511 download)

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Book Synopsis Power System Economic and Market Operations by : Jin Zhong

Download or read book Power System Economic and Market Operations written by Jin Zhong and published by CRC Press. This book was released on 2018-01-12 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

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Publisher : CRC Press
ISBN 13 : 1351371827
Total Pages : 453 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis Power System Fundamentals by : Pedro Ponce

Download or read book Power System Fundamentals written by Pedro Ponce and published by CRC Press. This book was released on 2017-12-04 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

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Publisher : CRC Press
ISBN 13 : 1466501707
Total Pages : 212 pages
Book Rating : 4.4/5 (665 download)

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Book Synopsis Electricity Markets and Power System Economics by : Deqiang Gan

Download or read book Electricity Markets and Power System Economics written by Deqiang Gan and published by CRC Press. This book was released on 2013-11-12 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Economic Market Design and Planning for Electric Power Systems

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Publisher : John Wiley & Sons
ISBN 13 : 0470529156
Total Pages : 311 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis Economic Market Design and Planning for Electric Power Systems by : James A. Momoh

Download or read book Economic Market Design and Planning for Electric Power Systems written by James A. Momoh and published by John Wiley & Sons. This book was released on 2009-11-19 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Electrical Power System Essentials

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Publisher : John Wiley & Sons
ISBN 13 : 1118803450
Total Pages : 424 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis Electrical Power System Essentials by : Pieter Schavemaker

Download or read book Electrical Power System Essentials written by Pieter Schavemaker and published by John Wiley & Sons. This book was released on 2017-05-08 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: The electrical power supply is about to change; future generation will increasingly take place in and near local neighborhoods with diminishing reliance on distant power plants. The existing grid is not adapted for this purpose as it is largely a remnant from the 20th century. Can the grid be transformed into an intelligent and flexible grid that is future proof? This revised edition of Electrical Power System Essentials contains not only an accessible, broad and up-to-date overview of alternating current (AC) power systems, but also end-of-chapter exercises in every chapter, aiding readers in their understanding of the material introduced. With an original approach the book covers the generation of electric energy from thermal power plants as from renewable energy sources and treats the incorporation of power electronic devices and FACTS. Throughout there are examples and case studies that back up the theory or techniques presented. The authors set out information on mathematical modelling and equations in appendices rather than integrated in the main text. This unique approach distinguishes it from other text books on Electrical Power Systems and makes the resource highly accessible for undergraduate students and readers without a technical background directly related to power engineering. After laying out the basics for a steady-state analysis of the three-phase power system, the book examines: generation, transmission, distribution, and utilization of electric energy wind energy, solar energy and hydro power power system protection and circuit breakers power system control and operation the organization of electricity markets and the changes currently taking place system blackouts future developments in power systems, HVDC connections and smart grids The book is supplemented by a companion website from which teaching materials can be downloaded.

Power Systems Restructuring

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Publisher : Springer Science & Business Media
ISBN 13 : 1475728832
Total Pages : 559 pages
Book Rating : 4.4/5 (757 download)

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Book Synopsis Power Systems Restructuring by : Marija Ilic

Download or read book Power Systems Restructuring written by Marija Ilic and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: The writing of this book was largely motivated by the ongoing unprecedented world-wide restructuring of the power industry. This move away from the traditional monopolies and toward greater competition, in the form of increased numbers of independent power producers and an unbundling of the main services that were until now provided by the utilities, has been building up for over a decade. This change was driven by the large disparities in electricity tariffs across regions, by technological developments that make it possible for small producers to compete with large ones, and by a widely held belief that competition will be beneficial in a broad sense. All of this together with the political will to push through the necessary legislative reforms has created a climate conducive to restructuring in the electric power industry. Consequently, since the beginning of this decade dramatic changes have taken place in an ever-increasing list of nations, from the pioneering moves in the United Kingdom, Chile and Scandinavia, to today's highly fluid power industry throughout North and South America, as well as in the European Community. The drive to restructure and take advantage of the potential economic benefits has, in our view, forced the industry to take actions and make choices at a hurried pace, without the usual deliberation and thorough analysis of possible implications. We must admit that to speak of "the industry" at this juncture is perhaps disingenuous, even misleading.

Power System Operations

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Publisher : Springer
ISBN 13 : 3319694073
Total Pages : 296 pages
Book Rating : 4.3/5 (196 download)

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Book Synopsis Power System Operations by : Antonio J. Conejo

Download or read book Power System Operations written by Antonio J. Conejo and published by Springer. This book was released on 2017-12-05 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Power Markets and Economics

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Publisher : John Wiley & Sons
ISBN 13 : 9780470743010
Total Pages : 324 pages
Book Rating : 4.7/5 (43 download)

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Book Synopsis Power Markets and Economics by : Barrie Murray

Download or read book Power Markets and Economics written by Barrie Murray and published by John Wiley & Sons. This book was released on 2009-02-25 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is now almost twenty years since liberalisation and the introduction of competition was proposed for electricity utilities. Some form of restructuring has been widely adopted around the world to suit local objectives. The industry now faces new challenges associated with global warming, rising prices and escalating energy demand from developing countries like China and India. The industry will have to cope with; managing emissions; managing variable energy sources like wind, dev eloping clean coal technology; accommodating distributed generation and new nuclear stations and managing the impact of these developments on the distribution and transmission networks. It is now necessary to consider how the various market structures that were adopted have performed and how they will address some of these new issues and what further changes might be necessary. This volume presents an all-inclusive analysis of the electricity market structures that have been adopted around the world and how they are performing. It provides an up-to-date analysis of the cost of competing technologies, the operation of energy and ancillary service markets and the impact of renewable sources and emission restrictions. It takes a forward look at likely future developments necessary to cope with the new emerging issues. Part One introduces industry infrastructure, analysing state utilities, the motives behind liberalisation and the resulting structures. Part Two considers generation costs, including renewable generation costs, and investigates the cost of restricting emissions as well as transmission and distribution costs. Part Three discusses market operation, describing how costs affect the organisation of power generation. It covers trading arrangements, ancillary services, international trading and investment. Part Four looks to future markets and technological developments that will shape the industry through the next twenty years. This includes the appraisal of investment opportunities for global power companies and implications for market performance. Written by an internationally renowned consultant engineer, this book is full of expert insight and balances fundamental methodology and academic theory with practical information and diverse worked examples. This is an excellent reference on the topic for power system engineers, regulators, banks, investors, and government energy agencies. With its many worked examples, it is also a brilliant tutorial accessible for postgraduates and senior undergraduates in electrical and power engineering.

Electricity Markets

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Publisher : John Wiley & Sons
ISBN 13 : 1119179378
Total Pages : 352 pages
Book Rating : 4.1/5 (191 download)

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Book Synopsis Electricity Markets by : Jeremy Lin

Download or read book Electricity Markets written by Jeremy Lin and published by John Wiley & Sons. This book was released on 2017-08-30 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive resource that provides the basic concepts of electric power systems, microeconomics, and optimization techniques Electricity Markets: Theories and Applications offers students and practitioners a clear understanding of the fundamental concepts of the economic theories, particularly microeconomic theories, as well as information on some advanced optimization methods of electricity markets. The authors—noted experts in the field—cover the basic drivers for the transformation of the electricity industry in both the United States and around the world and discuss the fundamentals of power system operation, electricity market design and structures, and electricity market operations. The text also explores advanced topics of power system operations and electricity market design and structure including zonal versus nodal pricing, market performance and market power issues, transmission pricing, and the emerging problems electricity markets face in smart grid and micro-grid environments. The authors also examine system planning under the context of electricity market regime. They explain the new ways to solve problems with the tremendous amount of economic data related to power systems that is now available. This important resource: Introduces fundamental economic concepts necessary to understand the operations and functions of electricity markets Presents basic characteristics of power systems and physical laws governing operation Includes mathematical optimization methods related to electricity markets and their applications to practical market clearing issues Electricity Markets: Theories and Applications is an authoritative text that explores the basic concepts of the economic theories and key information on advanced optimization methods of electricity markets.

Renewable and Efficient Electric Power Systems

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Publisher : John Wiley & Sons
ISBN 13 : 0471668834
Total Pages : 676 pages
Book Rating : 4.4/5 (716 download)

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Book Synopsis Renewable and Efficient Electric Power Systems by : Gilbert M. Masters

Download or read book Renewable and Efficient Electric Power Systems written by Gilbert M. Masters and published by John Wiley & Sons. This book was released on 2005-01-03 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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]

Power Generation, Operation, and Control

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Publisher : John Wiley & Sons
ISBN 13 : 111858595X
Total Pages : 590 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Power Generation, Operation, and Control by : Allen J. Wood

Download or read book Power Generation, Operation, and Control written by Allen J. Wood and published by John Wiley & Sons. This book was released on 2012-11-07 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive text on the operation and control of power generation and transmission systems In the ten years since Allen J. Wood and Bruce F. Wollenberg presented their comprehensive introduction to the engineering and economic factors involved in operating and controlling power generation systems in electric utilities, the electric power industry has undergone unprecedented change. Deregulation, open access to transmission systems, and the birth of independent power producers have altered the structure of the industry, while technological advances have created a host of new opportunities and challenges. In Power Generation, Operation, and Control, Second Edition, Wood and Wollenberg bring professionals and students alike up to date on the nuts and bolts of the field. Continuing in the tradition of the first edition, they offer a practical, hands-on guide to theoretical developments and to the application of advanced operations research methods to realistic electric power engineering problems. This one-of-a-kind text also addresses the interaction between human and economic factors to prepare readers to make real-world decisions that go beyond the limits of mere technical calculations. The Second Edition features vital new material, including: * A computer disk developed by the authors to help readers solve complicated problems * Examination of Optimal Power Flow (OPF) * Treatment of unit commitment expanded to incorporate the Lagrange relaxation technique * Introduction to the use of bounding techniques and other contingency selection methods * Applications suited to the new, deregulated systems as well as to the traditional, vertically organized utilities company Wood and Wollenberg draw upon nearly 30 years of classroom testing to provide valuable data on operations research, state estimation methods, fuel scheduling techniques, and more. Designed for clarity and ease of use, this invaluable reference prepares industry professionals and students to meet the future challenges of power generation, operation, and control.

Electric Power System Basics for the Nonelectrical Professional

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Publisher : John Wiley & Sons
ISBN 13 : 1119180198
Total Pages : 262 pages
Book Rating : 4.1/5 (191 download)

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Book Synopsis Electric Power System Basics for the Nonelectrical Professional by : Steven W. Blume

Download or read book Electric Power System Basics for the Nonelectrical Professional written by Steven W. Blume and published by John Wiley & Sons. This book was released on 2016-12-05 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of Steven W. Blume’s bestseller provides a comprehensive treatment of power technology for the non-electrical engineer working in the electric power industry This book aims to give non-electrical professionals a fundamental understanding of large interconnected electrical power systems, better known as the “Power Grid”, with regard to terminology, electrical concepts, design considerations, construction practices, industry standards, control room operations for both normal and emergency conditions, maintenance, consumption, telecommunications and safety. The text begins with an overview of the terminology and basic electrical concepts commonly used in the industry then it examines the generation, transmission and distribution of power. Other topics discussed include energy management, conservation of electrical energy, consumption characteristics and regulatory aspects to help readers understand modern electric power systems. This second edition features: New sections on renewable energy, regulatory changes, new measures to improve system reliability, and smart technologies used in the power grid system Updated practical examples, photographs, drawing, and illustrations to help the reader gain a better understanding of the material “Optional supplementary reading” sections within most chapters to elaborate on certain concepts by providing additional detail or background Electric Power System Basics for the Nonelectrical Professional, Second Edition, gives business professionals in the industry and entry-level engineers a strong introduction to power technology in non-technical terms. Steve W. Blume is Founder of Applied Professional Training, Inc., APT Global, LLC, APT College, LLC and APT Corporate Training Services, LLC, USA. Steve is a registered professional engineer and certified NERC Reliability Coordinator with a Master's degree in Electrical Engineering specializing in power and a Bachelor's degree specializing in Telecommunications. He has more than 25 years’ experience teaching electric power system basics to non-electrical professionals. Steve's engineering and operations experience includes generation, transmission, distribution, and electrical safety. He is an active senior member in IEEE and has published two books in power systems through IEEE and Wiley.

Economics of Electricity

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Publisher : Cambridge University Press
ISBN 13 : 1107185653
Total Pages : 369 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis Economics of Electricity by : Anna Cretì

Download or read book Economics of Electricity written by Anna Cretì and published by Cambridge University Press. This book was released on 2019-05-30 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the economics of electricity at each step of the supply chain: production, transportation and distribution, and retail.

Electrical Power Systems

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Publisher : New Age International
ISBN 13 : 8122424686
Total Pages : 23 pages
Book Rating : 4.1/5 (224 download)

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Book Synopsis Electrical Power Systems by : C. L. Wadhwa

Download or read book Electrical Power Systems written by C. L. Wadhwa and published by New Age International. This book was released on 2009 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: About the Book: Electrical power system together with Generation, Distribution and utilization of Electrical Energy by the same author cover almost six to seven courses offered by various universities under Electrical and Electronics Engineering curriculum. Also, this combination has proved highly successful for writing competitive examinations viz. UPSC, NTPC, National Power Grid, NHPC, etc.