Power System Economic And Market Operations
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Power System Economic and Market Operations
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 Operations
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.
Electricity Markets and Power System Economics
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