{"product_id":"power-grid-operation-in-a-market-environment-9781118984543","title":"Power Grid Operation in a Market Environment","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003eCovers the latest practices, challenges and theoretical advancements in the domain of balancing economic efficiency and operation risk mitigation\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThis book examines both system operation and market operation perspectives, focusing on the interaction between the two. It incorporates up-to-date field experiences, presents challenges, and summarizes the latest theoretic advancements to address those challenges. The book is divided into four parts. The first part deals with the fundamentals of integrated system and market operations, including market power mitigation, market efficiency evaluation, and the implications of operation practices in energy markets. The second part discusses developing technologies to strengthen the use of the grid in energy markets. System volatility and economic impact introduced by the intermittency of wind and solar generation are also addressed. The third part focuses on stochastic applications, exploring new approaches of handling uncertain\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003eFOREWORD ix \u003c\/p\u003e\u003cp\u003ePREFACE xi\u003c\/p\u003e \u003cp\u003eACKNOWLEDGMENT xiii\u003c\/p\u003e \u003cp\u003eCONTRIBUTORS xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART I INTEGRATED SYSTEM AND MARKET OPERATION\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 BALANCE ECONOMIC EFFICIENCY AND OPERATION RISK MITIGATION 3\u003c\/b\u003e\u003cbr\u003e\u003ci\u003eHong Chen and Jianwei Liu\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e1.1 Power System Operation Risk Mitigation: The Physics 4\u003c\/p\u003e \u003cp\u003e1.2 Integrated System and Market Operation: The Basics 11\u003c\/p\u003e \u003cp\u003e1.3 Economic Efficiency Evaluation and Improvement: The Economics 20\u003c\/p\u003e \u003cp\u003e1.4 Final Remarks 35\u003c\/p\u003e \u003cp\u003eAppendix 1.A Nomenclature 36\u003c\/p\u003e \u003cp\u003eAppendix 1.B Electricity Market Model 37\u003c\/p\u003e \u003cp\u003eReferences 39\u003c\/p\u003e \u003cp\u003eDisclaimer 41\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 MITIGATE MARKET POWER TO IMPROVE MARKET EFFICIENCY 4\u003c\/b\u003e\u003cbr\u003e\u003ci\u003eRoss Baldick\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e2.1 Introduction 43\u003c\/p\u003e \u003cp\u003e2.2 Price Formation in Electricity Markets 50\u003c\/p\u003e \u003cp\u003e2.3 Price and Offer Caps 52\u003c\/p\u003e \u003cp\u003e2.4 Ability and Incentive to Exercise Market Power 53\u003c\/p\u003e \u003cp\u003e2.5 Market Power Mitigation Approaches 57\u003c\/p\u003e \u003cp\u003e2.6 Conclusion 65\u003c\/p\u003e \u003cp\u003eAcknowledgments 65\u003c\/p\u003e \u003cp\u003eReferences 65\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART II UNDER SMART GRID ERA\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 MASS MARKET DEMAND RESPONSE MANAGEMENT FOR THE SMART GRID 69\u003c\/b\u003e\u003cbr\u003e\u003ci\u003eAlex D. Papalexopoulos\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e3.1 Overview 69\u003c\/p\u003e \u003cp\u003e3.2 Introduction 72\u003c\/p\u003e \u003cp\u003e3.3 Distributed Computing-Based Demand Response Management Approach 74\u003c\/p\u003e \u003cp\u003e3.4 The ColorPower Architecture and Control Algorithms 75\u003c\/p\u003e \u003cp\u003e3.5 Integration with the Wholesale Energy Market 80\u003c\/p\u003e \u003cp\u003e3.6 Equalizing Market Power Between Supply and Demand 83\u003c\/p\u003e \u003cp\u003e3.7 Generalization Beyond Demand Response 84\u003c\/p\u003e \u003cp\u003e3.8 A Numerical Example 87\u003c\/p\u003e \u003cp\u003e3.9 Concluding Remarks 88\u003c\/p\u003e \u003cp\u003eAppendix 3.A Nomenclature 89\u003c\/p\u003e \u003cp\u003eReferences 89\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 IMPROVE SYSTEM PERFORMANCE WITH LARGE-SCALE VARIABLE GENERATION ADDITION 91\u003c\/b\u003e\u003cbr\u003e\u003ci\u003eYuri V. Makarov, Pavel V. Etingov, and Pengwei Du\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e4.1 Review of Regulation and Ancillary Services 92\u003c\/p\u003e \u003cp\u003e4.2 Day-Ahead Regulation Forecast at CAISO 93\u003c\/p\u003e \u003cp\u003e4.3 Ramping and Uncertainties Evaluation at CAISO 99\u003c\/p\u003e \u003cp\u003e4.4 Quantifying the Regulation Service Requirements at ERCOT 103\u003c\/p\u003e \u003cp\u003e4.5 Conclusions 111\u003c\/p\u003e \u003cp\u003eAppendix 4.A Nomenclature 112\u003c\/p\u003e \u003cp\u003eReferences 113\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART III STOCHASTIC APPLICATIONS\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 SECURITY-CONSTRAINED UNIT COMMITMENT WITH UNCERTAINTIES 117\u003c\/b\u003e\u003cbr\u003e\u003ci\u003eLei Wu and Mohammad Shahidehpour\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e5.1 Introduction 118\u003c\/p\u003e \u003cp\u003e5.2 SCUC 119\u003c\/p\u003e \u003cp\u003e5.3 Uncertainties in Emerging Power Systems 125\u003c\/p\u003e \u003cp\u003e5.4 Managing the Resource Uncertainty in SCUC 134\u003c\/p\u003e \u003cp\u003e5.5 Illustrative Results 155\u003c\/p\u003e \u003cp\u003e5.6 Conclusions 163\u003c\/p\u003e \u003cp\u003eAppendix 5.A Nomenclature 164\u003c\/p\u003e \u003cp\u003eAcknowledgments 166\u003c\/p\u003e \u003cp\u003eReferences 166\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 DAY-AHEAD SCHEDULING: RESERVE DETERMINATION AND VALUATION 16\u003c\/b\u003e\u003cbr\u003e\u003ci\u003eRuiwei Jiang, Antonio J. Conejo, and Jianhui Wang\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e6.1 The Need of Reserves for Power System Operation 169\u003c\/p\u003e \u003cp\u003e6.2 Reserve Determination via Stochastic Programming 170\u003c\/p\u003e \u003cp\u003e6.3 Reserve Determination via Adaptive Robust Optimization 179\u003c\/p\u003e \u003cp\u003e6.4 Stochastic Programming vs. Adaptive Robust Optimization 182\u003c\/p\u003e \u003cp\u003e6.5 Reserve Valuation 185\u003c\/p\u003e \u003cp\u003e6.6 Summary, Concluding Remarks, and Research Needs 191\u003c\/p\u003e \u003cp\u003eAppendix 6.A Nomenclature 192\u003c\/p\u003e \u003cp\u003eReferences 193\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART IV HARNESS TRANSMISSION FLEXIBILITY\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 IMPROVED MARKET EFFICIENCY VIA TRANSMISSION SWITCHING AND OUTAGE EVALUATION IN SYSTEM OPERATIONS 197\u003c\/b\u003e\u003cbr\u003e\u003ci\u003eKwok W. Cheung and Jun Wu\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e7.1 Background 197\u003c\/p\u003e \u003cp\u003e7.2 Basic Dispatch Model for Market Clearing 198\u003c\/p\u003e \u003cp\u003e7.3 Economic Evaluation of Transmission Outage 201\u003c\/p\u003e \u003cp\u003e7.4 Optimal Transmission Switching 203\u003c\/p\u003e \u003cp\u003e7.5 Selection of Candidate Transmission Lines for Switching and Implementation of OTS 206\u003c\/p\u003e \u003cp\u003e7.6 Test Cases 210\u003c\/p\u003e \u003cp\u003e7.7 Final Remarks 216\u003c\/p\u003e \u003cp\u003eAppendix 7.A Nomenclature 216\u003c\/p\u003e \u003cp\u003eReferences 217\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 TOWARD VALUING FLEXIBILITY IN TRANSMISSION PLANNING 219\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eChin Yen Tee and Marija D. Ilíc\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e8.1 Introduction 219\u003c\/p\u003e \u003cp\u003e8.2 Scale Economies of Transmission Technologies 221\u003c\/p\u003e \u003cp\u003e8.3 Disconnect of Current Power System Operational, Planning, and Market Mechanisms 225\u003c\/p\u003e \u003cp\u003e8.4 Impact of Operational and Market Practices on Investment Planning 225\u003c\/p\u003e \u003cp\u003e8.5 Information and Risk Sharing in the Face of Uncertainties 230\u003c\/p\u003e \u003cp\u003e8.6 Challenges in Designing Financial Rights for Flexibility 234\u003c\/p\u003e \u003cp\u003e8.7 Conclusions 235\u003c\/p\u003e \u003cp\u003eAppendix 8.A Nomenclature 236\u003c\/p\u003e \u003cp\u003eAppendix 8.B Mathematical Models Used for Case Studies 238\u003c\/p\u003e \u003cp\u003eAppendix 8.C Investment Cost 247\u003c\/p\u003e \u003cp\u003eReferences 248\u003c\/p\u003e \u003cp\u003eINDEX 251\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49406962532695,"sku":"9781118984543","price":97.16,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781118984543.jpg?v=1730497707","url":"https:\/\/bookcurl.com\/products\/power-grid-operation-in-a-market-environment-9781118984543","provider":"Book Curl","version":"1.0","type":"link"}