Fundamentals of Power System Economics / Edition 1

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Economics in a Competitive Environment DANIEL S KIRSCHEN and GORAN STRBAC, both of UMIST, UK 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
* A solutions manual will be available to accompany the problems provided at the end of each chapter
* No significant competition currently available, the majority are contributed books contain collections of opinions rather than a coherent approach and do not address recent changes to the industry
* Written by recognised experts in the field
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Editorial Reviews

From the Publisher
"…this is an interesting book that can help practicing electrical engineers and understand the basic economics behind the competitive electricity markets." (IEEE Power & Energy Magazine, July/August 2006)

"Kirschen and Strbac have written an excellent textbook on this important area … rightly emphasizes the broad principles underlying all the main electricity markets around the world." (International Journal of Electrical Engineering Education, 42:3, 2006)

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Product Details

  • ISBN-13: 9780470845721
  • Publisher: Wiley
  • Publication date: 5/14/2004
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 296
  • Sales rank: 1,326,894
  • Product dimensions: 6.97 (w) x 9.92 (h) x 0.87 (d)

Table of Contents

1 Introduction 1
2 Basic concepts from economics 11
3 Markets for electrical energy 49
4 Participating in markets for electrical energy 73
5 System security and ancillary services 105
6 Transmission networks and electricity markets 141
7 Investing in generation 205
8 Investing in transmission 227
App. : Answers to selected problems 265
Abbreviations and acronyms 275
Index 277
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