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Market Operations in Electric Power Systems: Forecasting, Scheduling, and Risk Management

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An essential overview of post-deregulation market operations inelectrical power systems

Until recently the U.S. electricity industry was dominated byvertically integrated utilities. It is now evolving into adistributive and competitive market driven by market forces andincreased competition. With electricity amounting to a $200 billionper year market in the United States, the implications of thisrestructuring will naturally affect the rest of the world.

Why is restructuring necessary? Wha...