Electricity Markets : Theories and Applications.

Intro -- Electricity Markets -- Contents -- About the Authors -- Preface -- 1 Introduction -- 1.1 Electric Power System -- 1.2 Electricity Industry Restructuring in the United States -- 1.2.1 Key Drivers for Electricity Industry Restructuring -- 1.2.2 Pre-Federal Energy Regulatory Commission Order 2000 -- 1.2.3 Post-Federal Energy Regulatory Commission Order 2000 -- 1.2.4 Regional Transmission Organization -- 1.2.5 Post-Regional Transmission Organization -- 1.3 Electricity Industry Restructuring in Latin America -- 1.3.1 Chile -- 1.3.2 Argentina -- 1.3.3 Brazil -- 1.3.4 Mexico -- 1.4 Electricity Industry Restructuring in Europe -- 1.4.1 The United Kingdom -- 1.4.2 Nordic Countries -- 1.4.3 France -- 1.5 Electricity Industry Restructuring in Asia -- 1.5.1 South Korea -- 1.6 Reliability as a Paramount Goal -- 1.6.1 Reliability via the Electricity Market Mechanism -- 1.7 Further Discussions -- Further Reading -- 2 Electric Power System -- 2.1 Electric Power System Components -- 2.2 Electricity Generation -- 2.3 Power System Load -- 2.4 Transmission Lines -- 2.4.1 Structures and Types of Transmission Lines -- 2.4.2 Electrical Parameters of Transmission Lines -- 2.4.3 Electric Network Models of Transmission Lines -- 2.5 Power Transformers -- 2.6 Synchronous Generators -- 2.7 Network Analysis -- 2.7.1 Impedance Diagram -- 2.7.2 Bus Admittance Matrix -- 2.7.3 Power Flow Analysis -- 2.7.4 Control of Power Flow -- Further Reading -- 3 Microeconomic Theories -- 3.1 Preliminaries -- 3.2 Theory of Consumer Behavior -- 3.2.1 Individual and Market Demand -- 3.2.2 Consumer Surplus -- 3.3 Theory of a Firm -- 3.3.1 Profit Maximization Assumption -- 3.3.2 Cost of Production -- 3.3.3 Demand and Marginal Revenue for a Competitive Firm -- 3.3.4 Choosing Output in the Short Run -- 3.3.5 Producer Surplus -- 3.3.6 Social Welfare -- 3.4 Theory of a Market.

3.4.1 Perfect Competition -- 3.4.2 Pure Monopoly -- 3.4.3 Monopolistic Competition -- 3.4.4 Monopsony -- 3.5 Game Theory -- 3.5.1 Nash Equilibrium -- 3.5.2 Bayesian Nash Equilibrium -- 3.6 Oligopoly -- 3.6.1 Cournot Model -- 3.6.2 Stackelberg Model -- 3.6.3 Bertrand Model -- 3.6.4 Collusion Model -- 3.7 Auction Theory -- 3.8 Further Discussions -- Further Reading -- 4 Power System Unit Commitment -- 4.1 Introduction -- 4.2 Unit Commitment -- 4.3 Mathematical Formulation for Unit Commitment -- 4.4 Numerical Methods for Unit Commitment Problem -- 4.4.1 Heuristic Methods -- 4.4.2 Dynamic Programming -- 4.4.3 Dual Methods: Lagrange Relaxation -- 4.4.4 Mixed Integer Programming Method -- 4.5 New Challenges for UC Problem -- Further Reading -- 5 Power System Economic Dispatch -- 5.1 Introduction -- 5.2 Generation Cost -- 5.2.1 Input-Output Curve -- 5.2.2 Fuel Cost Curve -- 5.2.3 Heat Rate Curve -- 5.2.4 Incremental Cost Curve -- 5.3 Mathematical Formulation for Economic Dispatch -- 5.4 Economic Dispatch Problem -- 5.5 Lossless Economic Dispatch Formulation -- 5.6 Numerical Methods for Economic Dispatch -- 5.6.1 Lambda Iteration Method -- 5.6.2 Newton-Raphson Method -- 5.6.3 Reduced Gradient Methods -- 5.7 Inclusion of Transmission Losses -- 5.7.1 Total and Incremental Loss Calculation -- 5.8 New Advances in Economic Dispatch Calculations -- Further Reading -- 6 Optimal Power Flow -- 6.1 Introduction -- 6.2 Generic Formulation for OPF Problem -- 6.3 Solution Methods for OPF Problem -- 6.3.1 Primal Methods -- 6.3.2 Penalty and Barrier Methods -- 6.3.3 Linear Programming-Based Methods -- 6.3.4 Linear Programming -- 6.4 OPF Applied to Competitive Electricity Markets -- 6.5 Further Discussions about OPF Calculations -- 6.6 Algebraic Modeling Languages and Solvers -- Further Reading -- 7 Design, Structure, and Operation of an Electricity Market.

7.1 Electricity Market Overview -- 7.2 Electricity Market Models -- 7.2.1 Power Pool Model -- 7.2.2 Power Exchange Model -- 7.3 Energy Markets -- 7.3.1 Day-Ahead Energy Market -- 7.3.2 Real-Time Energy Market -- 7.4 Two-Settlement System -- 7.5 Market Operation Timeline -- 7.6 Tools for Market Operation -- 7.6.1 Security-Constrained Economic Dispatch -- 7.6.2 Reliability Unit Commitment -- 7.6.3 Network Security Analysis -- 7.6.4 Consideration of Transmission Constraints -- 7.7 Financial Transmission Rights Market -- 7.8 Capacity Market -- 7.9 Ancillary Service Markets -- 7.9.1 Regulation Service Market -- 7.9.2 Primary Reserve Markets -- 7.10 Additional Services -- 7.10.1 Reactive Power Service and Voltage Control -- 7.10.2 Black Start Service -- 7.11 Further Discussions -- Further Reading -- 8 Pricing, Modeling, and Simulation of an Electricity Market -- 8.1 Market-Clearing -- 8.1.1 Zonal Pricing -- 8.1.2 Nodal Pricing -- A: Penalty Factor -- B: Delivery Factor -- A: Unconstrained Network Case -- B: Constrained Network Case -- C: Constrained Network Case with Different Reference Bus -- 8.1.3 Uniform-Price Auction -- 8.1.4 Discriminatory Pricing -- 8.2 Modeling and Simulation of an Electricity Market -- 8.2.1 Fundamental Models -- 8.2.2 Market Equilibrium Models -- A: Equivalent Nonlinear Programming Formulation -- B: Penalization -- C: Example -- 8.3 Further Discussions -- Further Reading -- 9 Evaluation of an Electricity Market -- 9.1 Market Competitiveness -- 9.2 Market Power -- 9.3 Structure-Conduct-Performance Model -- 9.3.1 Structure -- 9.3.2 Conduct -- 9.3.3 Performance -- 9.4 Other Market Power Issues -- 9.5 Further Discussions -- Further Reading -- 10 Transmission Planning Under Electricity Market Regime -- 10.1 Overview -- 10.2 Key Drivers for Transmission Planning -- 10.2.1 Load Forecast -- 10.2.2 Demand Resources.

10.2.3 Generation Resources -- 10.2.4 Market Efficiency -- 10.2.5 Interregional Coordination -- 10.2.6 Operational Performance -- 10.2.7 Public Policy -- 10.2.8 Other Drivers -- 10.3 Reliability-Based Transmission Planning -- 10.3.1 Establishing a Reference System -- 10.3.2 Reliability Analysis of a Reference System -- 10.3.3 Near-Term Reliability Review -- 10.3.4 Long-Term Reliability Review -- 10.4 Market-Based Transmission Planning -- 10.4.1 Market Efficiency Model -- 10.4.2 Model Benchmarking -- 10.4.3 Market Efficiency Analysis -- 10.4.4 System Economic Output -- 10.4.5 Various Definitions of Economic Benefits -- 10.4.6 Economic Criteria -- 10.5 Cross-Border Transmission Planning -- 10.5.1 Reliability -- 10.5.2 Economics -- 10.5.3 Methodology for Cross-Border Transmission Planning -- 10.6 Competitive Transmission Planning -- 10.6.1 Regulated Transmission Business -- 10.6.2 FERC Order 1000 -- 10.6.3 Competitive Bidding Process -- 10.7 Transmission Planning in Europe -- 10.8 Further Discussions -- Further Reading -- 11 Electricity Market under a Future Grid -- 11.1 Renewable Energy Technologies -- 11.1.1 Types of Renewable Energy Sources -- 11.1.2 Growth Drivers of Renewable Energy Sources -- 11.1.3 The Impact of Renewable Energy on Electricity Markets -- 11.2 Smart Grid -- 11.2.1 Microgrid -- 11.2.2 Active Demand Response -- 11.2.3 Impact of Active Demand Response -- 11.2.4 Energy Storage Systems -- 11.2.5 Electric Vehicles -- 11.2.6 Smart Meters -- 11.2.7 Electricity Market at Distribution System Level -- 11.2.8 Smart Grid Policies and Programs -- 11.2.9 Market Implementation -- 11.3 Final Thoughts -- Further Reading -- Index -- EULA.

Description based on publisher supplied metadata and other sources.

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.