Interest in power systems economics is gaining momentum with the recent power supply shortages in America and the rising cost of fossil fuels. The involvement of independent power generators, brokers and distributors has changed the way in which power systems operate. Kirschen and Strbac use a combination of traditional engineering techniques and fundamental economics to address the long-term problems of power system development in a competitive environment. Power system engineers, operators, planners and policy makers working in the deregulated environment will value this practical guide, also of great interest to postgraduate and advanced undergraduate students in electrical and power engineering. 
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<li>Outlines the principles of competitive electricity markets alongside the operation and development of the supporting transmission and distribution networks</li> <li>Applies basic economic principles to power system operating and planning</li> <li>Written by recognised experts in the field</li> </ul>
For further information and to register for the solutions manual visit: http://www.wiley.com/go/powersystemeconomics

Fundamentals of Power System Economics

Business & Money

Kirschen, Daniel S.

Strbac, Goran

Economics

wiley

A new edition of the classic text explaining the fundamentals of competitive electricity markets―now updated to reflect the evolution of these markets and the large scale deployment of generation from renewable energy sources The introduction of competition in the generation and retail of electricity has changed the ways in which power systems function. The design and operation of successful competitive electricity markets requires a sound understanding of both power systems engineering and underlying economic principles of a competitive market. This extensively revised and updated edition of the classic text on power system economics explains the basic economic principles underpinning the design, operation, and planning of modern power systems in a competitive environment. It also discusses the economics of renewable energy sources in electricity markets, the provision of incentives, and the cost of integrating renewables in the grid. Fundamentals of Power System Economics, Second Edition looks at the fundamental concepts of microeconomics, organization, and operation of electricity markets, market participants' strategies, operational reliability and ancillary services, network congestion and related LMP and transmission rights, transmission investment, and generation investment. It also expands the chapter on generation investments―discussing capacity mechanisms in more detail and the need for capacity markets aimed at ensuring that enough generation capacity is available when renewable energy sources are not producing due to lack of wind or sun. <ul>
<li>Retains the highly praised first edition's focus and philosophy on the principles of competitive electricity markets and application of basic economics to power system operating and planning</li> <li>Includes an expanded chapter on power system operation that addresses the challenges stemming from the integration of renewable energy sources</li> <li>Addresses the need for additional flexibility and its provision by conventional generation, demand response, and energy storage</li> <li>Discusses the effects of the increased uncertainty on system operation</li> <li>Broadens its coverage of transmission investment and generation investment</li> <li>Supports self-study with end-of-chapter problems and instructors with solutions manual via companion website</li> </ul>
Fundamentals of Power System Economics, Second Edition is essential reading for graduate and undergraduate students, professors, practicing engineers, as well as all others who want to understand how economics and power system engineering interact.

Industries

John Wiley&Sons, Inc.

Fresh perspective on power systems, dealing with uncertainty, power electronics, and electricity markets Power Systems is a highly accessible textbook on the subject that helps students understand how power systems work and the fundamental constraints that guide its operation and design. Less relevant material is excluded, fundamentals are reinforced at every turn, and the book studiously avoids getting sidetracked into lengthy discussions of non-essential topics. In such a rapidly developing field, this unique approach of explaining not only the "what" and the "how" but also the "why" equips readers to understand why things might be done in a certain way so they can help develop new solutions to modern problems. To aid in reader comprehension, the text contains examples that reinforce the understanding of the fundamental concepts, informative and attractive illustrations, and problems of increasing levels of difficulty. An accompanying website includes a complete solution manual, teaching slides, and open-source simulation tools and a variety of examples, exercises, and projects of various levels of difficulty. Written by a leading figure in the power system community with a strong track record of writing for the student reader, Power Systems covers some important classical topics, such as the modeling of components, power flow, fault calculations, and stability. In addition, it includes: <ul> <li>A detailed discussion of the demand for electricity and how it affects the operation of power systems.</li> <li>An overview of the various forms of conventional and renewable energy conversion.</li> <li>A primer on modern power electronic power conversion.</li> <li>A careful analysis of the technical and economic issues involved in load generation balancing.</li> <li>An introduction to electricity markets.</li> </ul> With its up-to-date, accessible, and highly comprehensive coverage of the subject, Power Systems is an ideal textbook for various courses on power systems, such as Power Systems Design and Operation, Introduction to Electric Power Systems, Power System Analysis, and Power System Operation and Economics.

Power Systems: Fundamental Concepts and the Transition to Sustainability

Science & Math

Technology

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