Fundamentals of Power System Economics

ISBN-10: 0470845724
ISBN-13: 9780470845721
Edition: 2004
List price: $145.00
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Description: Interest in power systems economics is gaining momentum with the recent power supply shortages in America and the rising cost of fossil fuels. The involvement of independent power generators, brokers and distributors has changed the way in which  More...

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Book details

List price: $145.00
Copyright year: 2004
Publisher: John Wiley & Sons, Incorporated
Publication date: 5/21/2004
Binding: Hardcover
Pages: 296
Size: 6.50" wide x 9.75" long x 1.00" tall
Weight: 1.606
Language: English

Interest in power systems economics is gaining momentum with the recent power supply shortages in America and the rising cost of fossil fuels. The involvement of independent power generators, brokers and distributors has changed the way in which power systems operate. Kirschen and Strbac use a combination of traditional engineering techniques and fundamental economics to address the long-term problems of power system development in a competitive environment. Power system engineers, operators, planners and policy makers working in the deregulated environment will value this practical guide, also of great interest to postgraduate and advanced undergraduate students in electrical and power engineering. Outlines the principles of competitive electricity markets alongside the operation and development of the supporting transmission and distribution networks Applies basic economic principles to power system operating and planning Written by recognised experts in the field For further information and to register for the solutions manual visit: www.wiley.com/go/powersystemeconomics

Preface
Introduction
Why Competition?
Dramatis Personae
Models of Competition
Open Questions
Further Reading
Problems
Basic Concepts from Economics
Introduction
Fundamentals of Markets
Concepts from the Theory of the Firm
Types of Markets
Markets with Imperfect Competition
Further Reading
Problems
Markets for Electrical Energy
Introduction
What is the Difference between a Megawatt���hour and a Barrel of Oil?
The Need for a Managed Spot Market
Open Electrical Energy Markets
The Managed Spot Market
The Settlement Process
Further Reading
Problems
Participating in Markets for Electrical Energy
Introduction
The Consumer���s Perspective
The Producer���s Perspective
Perspective of Plants with Very Low Marginal Costs
The Hybrid Participant���s Perspective
Further Reading
Problems
System Security and Ancillary Services
Introduction
Describing the needs
Obtaining Ancillary Services
Buying Ancillary Services
Selling Ancillary Services
Further Reading
Problems
Transmission Networks and Electricity Markets
Introduction
Decentralized Trading over a Transmission Network
Centralized Trading over a Transmission Network
Further Reading
Problems
Investing in Generation
Introduction
Generation Capacity from an Investor���s Perspective
Generation Capacity from a Customer���s Perspective
Further Reading
Problems
Investing in Transmission
Introduction
The Nature of the Transmission Business
Cost���based Transmission Expansion
Value���based Transmission Expansion
Further Reading
Problems
Appendix: Answers to Selected Problems
Abbreviations and Acronyms
Index

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