Description
Book SynopsisA comprehensive resource that provides the basic concepts of electric power systems, microeconomics, and optimization techniques
Electricity Markets: Theories and Applications offers students and practitioners a clear understanding of the fundamental concepts of the economic theories, particularly microeconomic theories, as well as information on some advanced optimization methods of electricity markets. The authorsnoted experts in the fieldcover the basic drivers for the transformation of the electricity industry in both the United States and around the world and discuss the fundamentals of power system operation, electricity market design and structures, and electricity market operations.
The text also explores advanced topics of power system operations and electricity market design and structure including zonal versus nodal pricing, market performance and market power issues, transmission pricing, and the emerging problems electricity markets face in s
Table of Contents
About the Authors ix
Preface xi
1 Introduction 1
2 Electric Power System 29
3 Microeconomic Theories 57
4 Power System Unit Commitment 97
5 Power System Economic Dispatch 119
6 Optimal Power Flow 147
7 Design, Structure, and Operation of an Electricity Market 173
8 Pricing, Modeling, and Simulation of an Electricity Market 211
9 Evaluation of an Electricity Market 239
10 Transmission Planning Under Electricity Market Regime 255
11 Electricity Market under a Future Grid 293
Index 315
