Market Operations in Electric Power Systems: Forecasting, Scheduling, and Risk Management by Mohammad ShahidehpourMarket Operations in Electric Power Systems: Forecasting, Scheduling, and Risk Management by Mohammad Shahidehpour

Market Operations in Electric Power Systems: Forecasting, Scheduling, and Risk Management

byMohammad Shahidehpour, Hatim Yamin, Zuyi Li

Hardcover | April 11, 2002

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An essential overview of post-deregulation market operations in electrical power systems

Until recently the U.S. electricity industry was dominated by vertically integrated utilities. It is now evolving into a distributive and competitive market driven by market forces and increased competition. With electricity amounting to a $200 billion per year market in the United States, the implications of this restructuring will naturally affect the rest of the world.

Why is restructuring necessary? What are the components of restructuring? How is the new structure different from the old monopoly? How are the participants strategizing their options to maximize their revenues? What are the market risks and how are they evaluated? How are interchange transactions analyzed and approved? Starting with a background sketch of the industry, this hands-on reference provides insights into the new trends in power systems operation and control, and highlights advanced issues in the field.

Written for both technical and nontechnical professionals involved in power engineering, finance, and marketing, this must-have resource discusses:
* Market structure and operation of electric power systems
* Load and price forecasting and arbitrage
* Price-based unit commitment and security constrained unit commitment
* Market power analysis and game theory applications
* Ancillary services auction market design
* Transmission pricing and congestion


Using real-world case studies, this timely survey offers engineers, consultants, researchers, financial managers, university professors and students, and other professionals in the industry a comprehensive review of electricity restructuring and how its radical effects will shape the market.
MOHAMMAD SHAHIDEHPOUR is Professor of Electrical and Computer Engineering at the Illinois Institute of Technology. He is a Fellow of the IEEE and has served as a consultant for major energy companies during the last twenty years. HATIM YAMIN, PhD, is with ABB Energy Information Systems, a global unit of the energy industry worldwide, ...
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Title:Market Operations in Electric Power Systems: Forecasting, Scheduling, and Risk ManagementFormat:HardcoverDimensions:552 pages, 9.53 × 6.46 × 1.48 inPublished:April 11, 2002Publisher:WileyLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0471443379

ISBN - 13:9780471443377

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Table of Contents

Preface.

Chapter 1: Market Overview in Electric Power Systems.

Chapter 2: Short-Term Load Forecasting.

Chapter 3: Electricity Price Forecasting.

Chapter 4: Price-Based Unit Commitment.

Chapter 5: Arbitrage in Electricity Markets.

Chapter 6: Market Power Analysis Based on Game Theory.

Chapter 7: Generation Asset Valuation and Risk Analysis.

Chapter 8: Security-Constrained Unit Commitment.

Chapter 9: Ancillary Services Auction Market Design.

Chapter 10: Transmission Congestion Management and Pricing.

Appendix A: List of Symbols.

Appendix B: Mathematical Derivation.

Appendix C: RTS Load Data.

Appendix D: Example Systems Data.

Appendix E: Game Theory Concepts.

Appendix F: Congestion Charges Calculation.

References.

Index.

Editorial Reviews

..."an excellent work.... Readers will be impressed with the comprehensive approach and clear, readable presentation of material...highly recommended..." ("Choice," Vol. 40, No. 3, November 2002)