Power System Economic and Market Operations

Power system operation is one of the important issues in the power industry. The book aims to provide readers with the methods and algorithms to save the total cost in electricity generation and transmission. It begins with traditional power systems and builds into the fundamentals of power system operation, economic dispatch (ED), optimal power flow (OPF), and unit commitment (UC). The book covers electricity pricing mechanisms, such as nodal pricing and zonal pricing, based on Security-Constrained ED (SCED) or SCUC. The operation of energy market and ancillary service market are also explored.

Table of Contents

Chapter 1: Introduction
Chapter 2: Economic Operation In Power Systems
Chapter 3: Power Generation Costs
Chapter 4: Economic Dispatch
Chapter 5: Optimal Power Flow
Chapter 6: Unit Commitment
Chapter 7: Electricity Market Overview
Chapter 8: Electricity Market Pricing Models
Chapter 9: Congestion Management And Transmission Tariff
Chapter 10: Ancillary Service Markets
Chapter 11: Electricity Financial Market And Its Risk Management
Chapter 12: Low Carbon Power System Operation