fundamentals of power system economics

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Fundamentals Of Power System Economics

Author : Daniel S. Kirschen
ISBN : 9781119213253
Genre : Technology & Engineering
File Size : 23. 28 MB
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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

Author : Daniel S. Kirschen
ISBN : 9781119309888
Genre : Technology & Engineering
File Size : 88. 46 MB
Format : PDF, ePub, Docs
Download : 406
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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

Author : Daniel S. Kirschen
ISBN : 047002058X
Genre : Technology & Engineering
File Size : 59. 58 MB
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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: http://www.wiley.com/go/powersystemeconomics

Power System Economics

Author : Steven Stoft
ISBN : 0471150401
Genre : Technology & Engineering
File Size : 61. 42 MB
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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

Author : Jin Zhong
ISBN : 9781351180054
Genre : Science
File Size : 21. 10 MB
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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.

Power System Fundamentals

Author : Pedro Ponce
ISBN : 9781351371827
Genre : Technology & Engineering
File Size : 61. 94 MB
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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.

Protective Relaying

Author : J. Lewis Blackburn
ISBN : 9781498760003
Genre : Technology & Engineering
File Size : 69. 92 MB
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For many years, Protective Relaying: Principles and Applications has been the go-to text for gaining proficiency in the technological fundamentals of power system protection. Continuing in the bestselling tradition of the previous editions by the late J. Lewis Blackburn, the Fourth Edition retains the core concepts at the heart of power system analysis. Featuring refinements and additions to accommodate recent technological progress, the text: Explores developments in the creation of smarter, more flexible protective systems based on advances in the computational power of digital devices and the capabilities of communication systems that can be applied within the power grid Examines the regulations related to power system protection and how they impact the way protective relaying systems are designed, applied, set, and monitored Considers the evaluation of protective systems during system disturbances and describes the tools available for analysis Addresses the benefits and problems associated with applying microprocessor-based devices in protection schemes Contains an expanded discussion of intertie protection requirements at dispersed generation facilities Providing information on a mixture of old and new equipment, Protective Relaying: Principles and Applications, Fourth Edition reflects the present state of power systems currently in operation, making it a handy reference for practicing protection engineers. And yet its challenging end-of-chapter problems, coverage of the basic mathematical requirements for fault analysis, and real-world examples ensure engineering students receive a practical, effective education on protective systems. Plus, with the inclusion of a solutions manual and figure slides with qualifying course adoption, the Fourth Edition is ready-made for classroom implementation.

Renewable And Efficient Electric Power Systems

Author : Gilbert M. Masters
ISBN : 9781118633496
Genre : Technology & Engineering
File Size : 27. 93 MB
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A solid, quantitative, practical introduction to a wide range of renewable energy systems—in a completely updated, new edition The second edition of Renewable and Efficient Electric Power Systems provides a solid, quantitative, practical introduction to a wide range of renewable energy systems. For each topic, essential theoretical background is introduced, practical engineering considerations associated with designing systems and predicting their performance are provided, and methods for evaluating the economics of these systems are presented. While the book focuses on the fastest growing, most promising wind and solar technologies, new material on tidal and wave power, small-scale hydroelectric power, geothermal and biomass systems is introduced. Both supply-side and demand-side technologies are blended in the final chapter, which introduces the emerging smart grid. As the fraction of our power generated by renewable resources increases, the role of demand-side management in helping maintain grid balance is explored. Renewable energy systems have become mainstream technologies and are now, literally, big business. Throughout this edition, more depth has been provided on the financial analysis of large-scale conventional and renewable energy projects. While grid-connected systems dominate the market today, off-grid systems are beginning to have a significant impact on emerging economies where electricity is a scarce commodity. Considerable attention is paid to the economics of all of these systems. This edition has been completely rewritten, updated, and reorganized. New material has been presented both in the form of new topics as well as in greater depth in some areas. The section on the fundamentals of electric power has been enhanced, making this edition a much better bridge to the more advanced courses in power that are returning to many electrical engineering programs. This includes an introduction to phasor notation, more emphasis on reactive power as well as real power, more on power converter and inverter electronics, and more material on generator technologies. Realizing that many students, as well as professionals, in this increasingly important field may have modest electrical engineering backgrounds, early chapters develop the skills and knowledge necessary to understand these important topics without the need for supplementary materials. With numerous completely worked examples throughout, the book has been designed to encourage self-instruction. The book includes worked examples for virtually every topic that lends itself to quantitative analysis. Each chapter ends with a problem set that provides additional practice. This is an essential resource for a mixed audience of engineering and other technology-focused individuals.

Regulation Of The Power Sector

Author : Ignacio J. Pérez-Arriaga
ISBN : 9781447150343
Genre : Business & Economics
File Size : 66. 41 MB
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Regulation of the Power Sector is a unified, consistent and comprehensive treatment of the theories and practicalities of regulation in modern power-supply systems. The need for generation to occur at the time of use occasioned by the impracticality of large-scale electricity storage coupled with constant and often unpredictable changes in demand make electricity-supply systems large, dynamic and complex and their regulation a daunting task. Arranged in four parts, this book addresses both traditional regulatory frameworks and also liberalized and re-regulated environments. First, an introduction gives a full characterization of power supply including engineering, economic and regulatory viewpoints. The second part presents the fundamentals of regulation and the third looks at the regulation of particular components of the power sector in detail. Advanced topics and subjects still open or subject to dispute form the content of Part IV. In a sector where regulatory design is the key driver of both the industry efficiency and the returns on investment, Regulation of the Power Sector is directed at regulators, policy decision makers, business managers and researchers. It is a pragmatic text, well-tested by the authors’ quarter-century of experience of power systems from around the world. Power system professionals and students at all levels will derive much benefit from the authors’ wealth of blended theory and real-world-derived know-how.

Power System Operation

Author : Robert Miller
ISBN : 0070419779
Genre : Technology & Engineering
File Size : 68. 73 MB
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The best-selling power system operation manual ever published--NOW IN AN ALL-NEW EDITION! For over 30 years more electrical power professionals have used this guide for safe, economical system operation than any other in print. Why? Because Power System Operation, by Robert Miller and James Malinowski, presents more of the fundamental principles and methods dispatchers and operators need in a clear, easy-to-understand style. Now this third edition has been expanded by 50% to cover even more: VAR flows; Power system control; Telemetering methods; Supervisory control and data acquisition methods; System control, protection and stability; System reliability factors, Power system energy transfer; Energy accounting in interconnected operations; Operating systems most economically; EHV operation; Power system communications; Impedance of parallel circuits; Effects of resistance on impedance.

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