Electricity Markets and Power System Economics

Electricity Markets and Power System Economics

by Deqiang Gan, Donghan Feng, Jun Xie

Hardcover(New Edition)

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Product Details

ISBN-13: 9781466501690
Publisher: Taylor & Francis
Publication date: 11/08/2013
Edition description: New Edition
Pages: 220
Product dimensions: 9.20(w) x 6.40(h) x 0.70(d)

About the Author

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.

Table of Contents

Introduction
Demand and Supply
Market Equilibrium
Price Elasticity and Competitive Market
Economy of Scale and Natural Monopoly
Brief History of Electricity Markets

Fundamentals of Power System Operation
Economic Dispatch
Load Flow Calculation
Load Flow under Outages
Fundamentals of Constrained Optimization
Security-Constrained Economic Dispatch
Load Frequency Control
Spinning Reserve
Generation Scheduling
Calculation of Transfer Capabilities of Transmission Interfaces
Overview of Power System Operation

Market Design: Spot Energy Market
Organization after Deregulation
Uniform Pricing
Nodal Pricing
Multiple Block Bidding
Demand Side Bidding
Day-Ahead Market
Ex-Post Spot Pricing
Transmission Losses
Bilateral Trading in United Kingdom
Electricity Market Reform in California

Market Design: Procurement of Ancillary Services
Reserve Market
AGC Market
Energy, Reserve, and AGC Co-Optimization Market
Compensation without Competition

Market Design: Common Cost Allocations
Background
Transmission Costs
Unit Start-Up Cost
Peaking Cost Compensation
Transmission Rights

Microeconomic Analysis
Background
Fundamentals of Non-Cooperative Game Theory
Game Models for Market Analysis
Market Power Analysis
Electricity Market Experiments

Price Forecast and Risk Management
Forecasting Electricity Prices
Managing Price Risk

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