Internationally, the electric power industry is currently undergoing unprecedented reform. The deregulation of the electricity supply industry has introduced new opportunities for competition and has made the maintenance of economic and reliable supplies of electricity a tremendous challenge. Faced by an increasingly complicated existence, power utilities need efficient tools to ensure that electrical energy of the quality desired can be provided at the lowest possible cost. Operation of Market-oriented Power Systems provides effective computational tools for the efficient operation of restructured power systems covering all the major operational issues such as:

. congestion management;

. available transfer capability calculations;

. price forecasting and optimal bidding strategies;

. a review of international research and world-wide industrial practice covered in each chapter gives the reader a broader understanding of the state of the art in this exciting field.

Operation of Market-oriented Power Systems will be a useful reference for professional engineers and researchers in the operation and control of modern power systems as all within the power industry face up to the changes required to provide safe, reliable and profitable electricity in an increasingly competitive market.

Autorentext

Yong-Hua Song is Professor of Electrical Energy Systems at Brunel and he also holds the Royal Academy of Engineering/Nuclear Electric/Siemens Chair of Power Systems Analysis. He is the author of over 250 journal and conference papers.

Klappentext

This useful reference allows readers to compare and learn from best-practice and up-to-date information in this exciting field from Europe, the US and Australia. It shows how to overcome day-to-day and strategic engineering problems, rather than concentrating on policy and market-structural issues.

Inhalt

Operation of Restructured Power Systems.- Modeling and Analysis of Electricity Markets.- Location-based Marginal Pricing of Electricity and Its Decomposition.- Co-ordinated Real-time Dispatch of Unbundled Electricity Markets.- Available Transfer Capability Evaluation.- Transmission Congestion Management.- Dynamic Congestion Management.- Financial Instruments and Their Role in Market Dispatch and Congestion Management.- Ancillary Services I: Pricing and Procurement of Reserves.- Ancillary Services II: Voltage Security and Reactive Power Management.- Load and Price Forecasting via Wavelet Transform and Neural Networks.- Analysis of Generating Companies' Strategic Behaviour.- Bidding Problems in Electricity Generation Market.- Transmission Services Improvement by FACTS Control.