Ebook: Power Systems Restructuring: Engineering and Economics

The writing of this book was largely motivated by the ongoing unprecedented world-wide restructuring of the power industry. This move away from the traditional monopolies and toward greater competition, in the form of increased numbers of independent power producers and an unbundling of the main services that were until now provided by the utilities, has been building up for over a decade. This change was driven by the large disparities in electricity tariffs across regions, by technological developments that make it possible for small producers to compete with large ones, and by a widely held belief that competition will be beneficial in a broad sense. All of this together with the political will to push through the necessary legislative reforms has created a climate conducive to restructuring in the electric power industry. Consequently, since the beginning of this decade dramatic changes have taken place in an ever-increasing list of nations, from the pioneering moves in the United Kingdom, Chile and Scandinavia, to today's highly fluid power industry throughout North and South America, as well as in the European Community. The drive to restructure and take advantage of the potential economic benefits has, in our view, forced the industry to take actions and make choices at a hurried pace, without the usual deliberation and thorough analysis of possible implications. We must admit that to speak of "the industry" at this juncture is perhaps disingenuous, even misleading.

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The restructuring of the power industry has already begun and will be fully implemented in the United States and many other countries by the beginning of the 21st century. Unlike other sectors of the economy, restructuring of the utility industry requires a careful analysis because of the nature of the real-time operations. This book addresses the problems inherent in such a task in a cohesive manner.
The topics discussed include currently evolving market structures, mechanisms for implementation of the market requests, price incentives and transaction adjustments, and secure and optimal operation of the system under open access. Many technical, economic and regulatory questions related to making services market-based are addressed, and transmission provision-related market power problems are analyzed in considerable detail.
The contributors are drawn from academia and industry and are internationally recognized in their fields.
Power Systems Restructuring: Engineering and Economics will be an invaluable resource for power systems engineers, educators, system operators, managers, planners and researchers working in the field.

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The restructuring of the power industry has already begun and will be fully implemented in the United States and many other countries by the beginning of the 21st century. Unlike other sectors of the economy, restructuring of the utility industry requires a careful analysis because of the nature of the real-time operations. This book addresses the problems inherent in such a task in a cohesive manner.
The topics discussed include currently evolving market structures, mechanisms for implementation of the market requests, price incentives and transaction adjustments, and secure and optimal operation of the system under open access. Many technical, economic and regulatory questions related to making services market-based are addressed, and transmission provision-related market power problems are analyzed in considerable detail.
The contributors are drawn from academia and industry and are internationally recognized in their fields.
Power Systems Restructuring: Engineering and Economics will be an invaluable resource for power systems engineers, educators, system operators, managers, planners and researchers working in the field.
Content:
Front Matter....Pages i-x
Setting the Stage....Pages 1-11
Front Matter....Pages 13-13
Power Systems Operation: Old vs. New....Pages 15-107
Framework and Methods for the Analysis of Bilateral Transactions....Pages 109-128
Front Matter....Pages 129-129
The Political Economy of the Pool....Pages 131-166
Practical Requirements for ISO Systems....Pages 167-184
Front Matter....Pages 185-185
Agent Based Economics....Pages 187-242
One-Part Markets for Electric Power: Ensuring the Benefits of Competition....Pages 243-280
Front Matter....Pages 281-281
System Planning under Competition....Pages 283-333
Transmission Networks and Market Power....Pages 335-384
Competitive Electric Services and Efficiency....Pages 385-401
Front Matter....Pages 403-403
New Control Paradigms for Deregulation....Pages 405-449
The Control and Operation of Distributed Generation in a Competitive Electric Market....Pages 451-516
Application of Dynamic Generation Control for Predatory Competitive Advantage in Electric Power Markets....Pages 517-546
Back Matter....Pages 547-559

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The restructuring of the power industry has already begun and will be fully implemented in the United States and many other countries by the beginning of the 21st century. Unlike other sectors of the economy, restructuring of the utility industry requires a careful analysis because of the nature of the real-time operations. This book addresses the problems inherent in such a task in a cohesive manner.
The topics discussed include currently evolving market structures, mechanisms for implementation of the market requests, price incentives and transaction adjustments, and secure and optimal operation of the system under open access. Many technical, economic and regulatory questions related to making services market-based are addressed, and transmission provision-related market power problems are analyzed in considerable detail.
The contributors are drawn from academia and industry and are internationally recognized in their fields.
Power Systems Restructuring: Engineering and Economics will be an invaluable resource for power systems engineers, educators, system operators, managers, planners and researchers working in the field.
Content:
Front Matter....Pages i-x
Setting the Stage....Pages 1-11
Front Matter....Pages 13-13
Power Systems Operation: Old vs. New....Pages 15-107
Framework and Methods for the Analysis of Bilateral Transactions....Pages 109-128
Front Matter....Pages 129-129
The Political Economy of the Pool....Pages 131-166
Practical Requirements for ISO Systems....Pages 167-184
Front Matter....Pages 185-185
Agent Based Economics....Pages 187-242
One-Part Markets for Electric Power: Ensuring the Benefits of Competition....Pages 243-280
Front Matter....Pages 281-281
System Planning under Competition....Pages 283-333
Transmission Networks and Market Power....Pages 335-384
Competitive Electric Services and Efficiency....Pages 385-401
Front Matter....Pages 403-403
New Control Paradigms for Deregulation....Pages 405-449
The Control and Operation of Distributed Generation in a Competitive Electric Market....Pages 451-516
Application of Dynamic Generation Control for Predatory Competitive Advantage in Electric Power Markets....Pages 517-546
Back Matter....Pages 547-559
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