Electricity Markets and Power System Economics
Auteurs : Gan Deqiang, Feng Donghan, Xie Jun
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 industry had been considered a natural monopoly and undergone periods of tight regulation. Deregulation started in the early 1980s and as a result, most developed countries run their power industries using a market approach.
With the theories and rules of electricity markets developing rapidly, it is often difficult for beginners to start learning and difficult for those in the field to keep up. Bringing together information previously scattered among various journals and scholarly articles, Electricity Markets and Power System Economics provides a comprehensive overview of the current state of development in the electricity market. It introduces the fundamental principles of power system operation so that even those with a basic understanding can benefit from the book.
The book includes a series of consistent mathematical models of market operation of power systems, and original cases with solutions. Systematically describing the basic building blocks of electricity market theory, the book provides a guide to underlying theory and mainstream market rules.
Introduction. Fundamentals of Power System Operation. Market Design: Spot Energy Market. Market Design: Procurement of Ancillary Services. Market Design: Common Cost Allocations. Microeconomic Analysis. Price Forecast and Risk Management.
Deqiang Gan has been with the faculty of Zhejiang University since 2002. He visited the University of Hong Kong in 2004, 2005, and 2006. Deqiang worked for ISO New England, Inc. from 1998 to 2002. He held research positions in Ibaraki University, University of Central Florida, and Cornell University from 1994 to 1998. Deqiang received his Ph.D. in Electrical Engineering from Xian Jiaotong University, China, in 1994. He currently serves as an editor of European Transactions on Electric Power. His research interests are power system stability and market operations. Deqiang is a senior member of the IEEE.
Date de parution : 11-2013
15.2x22.9 cm
Thèmes d’Electricity Markets and Power System Economics :
Mots-clés :
Electricity Markets; Bid Price; Fundamentals of Power System Operation; Nodal Price; Market Design: Spot Energy Market; AGC Regulation; Market Design: Common Cost Allocations; Economic Dispatch; Microeconomic Analysis; Equilibrium Point; Price Forecast and Risk Management; Load Flow; Electricity Sellers; Clearing Price; Hydro Units; Nash Equilibrium; Bidding Price Curve; Peaking Cost; Convex Game; Inequality Constrained Optimization Problem; Common Cost Allocation; Dispatch Problem; Base Load Units; Dc dP; Sequential Optimization Method; Price Forecasting; AGC; Transmission Rights; Bi-level Optimization Problem; Unit G1