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

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.

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
References
Index