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Electricity Economics and Planning by Tom W. Berrie Pdf
Explores fundamental changes that have taken place worldwide in electricity economics and planning since the publication of the author's initial book on the subject, "Power System Economics", in 1983. It introduces the planning options likely to arise in the 1990s and beyond.
Economic Market Design and Planning for Electric Power Systems by James A. Momoh,Lamine Mili Pdf
Discover cutting-edge developments in electric power systems Stemming from cutting-edge research and education activities in the field of electric power systems, this book brings together the knowledge of a panel of experts in economics, the social sciences, and electric power systems. In ten concise and comprehensible chapters, the book provides unprecedented coverage of the operation, control, planning, and design of electric power systems. It also discusses: A framework for interdisciplinary research and education Modeling electricity markets Alternative economic criteria and proactive planning for transmission investment in deregulated power systems Payment cost minimization with demand bids and partial capacity cost compensations for day-ahead electricity auctions Dynamic oligopolistic competition in an electric power network and impacts of infrastructure disruptions Reliability in monopolies and duopolies Building an efficient, reliable, and sustainable power system Risk-based power system planning integrating social and economic direct and indirect costs Models for transmission expansion planning based on reconfiguration capacitor switching Next-generation optimization for electric power systems Most chapters end with a bibliography, closing remarks, conclusions, or future work. Economic Market Design and Planning for Electric Power Systems is an indispensable reference for policy-makers, executives and engineers of electric utilities, university faculty members, and graduate students and researchers in control theory, electric power systems, economics, and the social sciences.
Fundamentals of Power System Economics by Daniel S. Kirschen,Goran Strbac Pdf
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. 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 Includes an expanded chapter on power system operation that addresses the challenges stemming from the integration of renewable energy sources Addresses the need for additional flexibility and its provision by conventional generation, demand response, and energy storage Discusses the effects of the increased uncertainty on system operation Broadens its coverage of transmission investment and generation investment Updates end-of-chapter problems and accompanying solutions manual 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.
Electric Utility Resource Planning by Steven Sim Pdf
In 2012, using easy-to-understand text and examples, the first edition of this book explained how electric utilities “work,” and how they plan (or should plan) for the future, by: "Creating" a hypothetical electric utility. Explaining how (and why) this utility will operate its system of generating units. Guiding readers through a planning analysis for the utility, examining various resource options (solar, new gas-fueled generation, and conservation). Introducing four Fundamental Principles of Resource Planning that should guide utilities as they plan for the future. The first edition material, with significant updates, now appears as Part I of the second edition of this book. Part II of this book then presents six all-new chapters that address the challenges (and opportunities) of moving toward a zero-carbon future. Using the same hypothetical utility, with its new goal to utilize solar and batteries to serve 100% of its customers’ energy with zero carbon emissions by a future “target”year, Part II of this book addresses many subjects, including: The enormous amount of MW of new solar and batteries the utility will need to add Why certain characteristics of new solar and battery additions change as increasing amounts of these resources are added In the years prior to achieving its zero-carbon goal, how the hourly operation of the utility’s existing fossil-fueled generators, plus the new solar, will change (and why the stability of the transmission grid will be challenged) With this second edition, author Dr. Steven Sim again applies the experience and insights he gained from more than 30 years of resource planning for Florida Power & Light (FPL). As one of the largest electric utilities in the United States, FPL has faced a multitude of resource planning challenges, including how to get to zero carbon. During this time period, Dr. Sim performed and directed thousands of analyses designed to address these challenges. He also served as an expert witness in dozens of regulatory hearings, addressing both the economics of resource options and the non-economic impacts (air emissions, system reliability, fuel usage, etc.) associated with these options.
Optimal Pricing and Investment in Electricity Supply by Ralph Turvey Pdf
Originally published in 1968, this book was one of the first full-scale published studies of the principles of investment planning and of the structure of marginal costs in a public enterprise. The concepts involved were more developed and applied in the world's electricity industries than elsewhere, and this book will be of interest to both engineers and administrators who are concerned with electricity supply, by setting out the characteristics of investment planning in this sector and the implications for cost analysis.
Originally published in 1996, this book is an exploration and analysis of the electricity industry in the context of uncertainty following the energy crisis of the 1970s and concern over the greenhouse effect. Few industries demand a similar level of foresight and planning, or such vast amounts of capital. The book examines five well-known Australian, Canadian and New Zealand cases and closely analyses the ways in which various agencies have sought ends to serve the means at their disposal. Electricity has long been regarded as a natural monopoly, but questions of privatisation, regulation and government control are increasingly prevalent. The book explores these issues and also notes the experiences of other countries in its analysis of institutional reform. Aynsley Kellow argues for different approaches to electricity planning, which offer much by way of economic savings and minimisation of environmental problems.
Handbook of Energy Economics and Policy by Alessandro Rubino,Alessandro Sapio,Massimo La Scala Pdf
Handbook of Energy Economics and Policy: Fundamentals and Applications for Engineers and Energy Planners presents energy engineers and managers with analytical skills and concepts that enable them to apply simple economic logic to understand the interrelations between energy technologies, economics, regulation and governance of the industry. Sections cover the origins, types and measurement of energy sources, transportation networks, and regulatory and policy issues on electricity and gas at a global level, new economic and policy issues, including innovation processes in the energy industry and economic and policy implications. Final sections cover state-of-the-art methods for modeling and predicting the dynamics of energy systems. Its unique approach and learning path makes this book an ideal resource for energy engineering practitioners and researchers working to design, develop, plan or deploy energy systems. Energy planners and policymakers will also find this to be a solid foundation on which to base decisions. Presents key-concepts and their interrelation with energy technologies and systems in a clear way for ready application during planning and deployment of energy technologies and systems Includes global case studies covering a wide array of energy sources and regulatory models Explores methodologies for modeling and forecasting the impacts of energy technologies and systems, as well as their costs and possible business models
Smart and Sustainable Power Systems by João P. S. Catalão Pdf
The smart grid initiative, integrating advanced sensing technologies, intelligent control methods, and bi-directional communications into the contemporary electricity grid, offers excellent opportunities for energy efficiency improvements and better integration of distributed generation, coexisting with centralized generation units within an active network. A large share of the installed capacity for recent renewable energy sources already comprises insular electricity grids, since the latter are preferable due to their high potential for renewables. However, the increasing share of renewables in the power generation mix of insular power systems presents a significant challenge to efficient management of the insular distribution networks, mainly due to the variability and uncertainty of renewable generation. More than other electricity grids, insular electricity grids require the incorporation of sustainable resources and the maximization of the integration of local resources, as well as specific solutions to cope with the inherent characteristics of renewable generation. Insular power systems need a new generation of methodologies and tools to face the new paradigm of large-scale renewable integration. Smart and Sustainable Power Systems: Operations, Planning, and Economics of Insular Electricity Grids discusses the modeling, simulation, and optimization of insular power systems to address the effects of large-scale integration of renewables and demand-side management. This practical book: Describes insular power systems, renewable energies, uncertainty, variability, reserves, and demand response Examines state-of-the-art forecasting techniques, power flow calculations, and scheduling models Covers probabilistic and stochastic approaches, scenario generation, and short-term operation Includes comprehensive testing and validation of the mathematical models using real-world data Explores electric price signals, competitive operation of distribution networks, and network expansion planning Smart and Sustainable Power Systems: Operations, Planning, and Economics of Insular Electricity Grids provides a valuable resource for the design of efficient methodologies, tools, and solutions for the development of a truly sustainable and smart grid.
The Economics of Electricity Markets by Darryl R. Biggar,Mohammad Reza Hesamzadeh Pdf
Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concerns. The book covers the basic modelling of electricity markets, including the impact of uncertainty (an integral part of generation investment decisions and transmission cost-benefit analysis). It draws out the parallels to the Nordpool market (an important point of reference for Europe). Written from the perspective of the policy-maker, the first part provides the introductory background knowledge required. This includes an understanding of basic economics concepts such as supply and demand, monopoly, market power and marginal cost. The second part of the book asks how a set of generation, load, and transmission resources should be efficiently operated, and the third part focuses on the generation investment decision. Part 4 addresses the question of the management of risk and Part 5 discusses the question of market power. Any power system must be operated at all times in a manner which can accommodate the next potential contingency. This demands responses by generators and loads on a very short timeframe. Part 6 of the book addresses the question of dispatch in the very short run, introducing the distinction between preventive and corrective actions and why preventive actions are sometimes required. The seventh part deals with pricing issues that arise under a regionally-priced market, such as the Australian NEM. This section introduces the notion of regions and interconnectors and how to formulate constraints for the correct pricing outcomes (the issue of "constraint orientation"). Part 8 addresses the fundamental and difficult issue of efficient transmission investment, and finally Part 9 covers issues that arise in the retail market. Bridges the gap between engineering and economics in electricity, covering both the economics and engineering knowledge needed to accurately understand, plan and develop the electricity market Comprehensive coverage of all the key topics in the economics of electricity markets Covers the latest research and policy issues as well as description of the fundamental concepts and principles that can be applied across all markets globally Numerous worked examples and end-of-chapter problems Companion website holding solutions to problems set out in the book, also the relevant simulation (GAMS) codes
Least-Cost Electric Utility Planning by Harry G. Stoll Pdf
Presents all the key elements and tools necessary to plan and operate efficient electric utility power systems. Seven sections address economics, finance, and regulation; industrial power economics; load demand and management; reliability of the generation system; cost of production in the generation system; capacity planning; and transmission planning. Each section addresses power system theory and principles and applies them to realistic utility examples. Results from solved examples are expanded to illustrate the sensitivity and direction of key parameters.
This book provides an updated and expanded overview of basic concepts of energy economics and explains how simple economic tools can be used to analyse contemporary energy issues in the light of recent developments, such as the Paris Agreement, the UN Sustainable Development Goals and new technological developments in the production and use of energy. The new edition is divided into four parts covering concepts, issues, markets, and governance. Although the content has been thoroughly revised and rationalised to reflect the current state of knowledge, it retains the main features of the first edition, namely accessibility, research-informed presentation, and extensive use of charts, tables and worked examples. This easily accessible reference book allows readers to gain the skills required to understand and analyse complex energy issues from an economic perspective. It is a valuable resource for students and researchers in the field of energy economics, as well as interested readers with an interdisciplinary background.
Regulating Power: The Economics of Electrictiy in the Information Age by Carl Pechman Pdf
Modem industrial society functions with the expectation that electricity will be available when required. By law, electric utilities have the obligation to provide electricity to customers in a "safe and adequate" manner. In exchange for this obligation, utilities are granted a monopoly right to provide electricity to customers within well-defmed service territories. However, utilities are not unfettered in their monopoly power; public utility commissions regulate the relationship between a utility and its customers and limit profits to a "fair rate of return on invested capital. " From its inception through the late 1970s, the electric utility industry's opera tional paradigm was to continue marketing electricity to customers and to build power plants to meet customer needs. This growth was facilitated by a U. S. energy policy predicated upon the assumption that sustained electric growth was causally linked to social welfare (Lovins, 1977). The electric utility industry is now in transition from a vertically integrated monopoly to a more competitive market. Of the three primary components (generation, transmission, and distribution) of the traditional vertically integrated monopoly, generation is leading this transformation. The desired outcome is a more efficient market for the provision of electric service, ultimately resulting in lower costs to customers. This book focuses on impediments to this transformation. In partiCUlar, it argues that information control is a form of market power that inhibits the evolution of the market. The analysis is presented within the context of the transformation of the U. S.
This book is an exploration and analysis of the electricity industry in the context of uncertainty following the energy crisis of the 1970s and concern over the greenhouse effect. Electricity has long been regarded as a natural monopoly, but questions of privatization, regulation and government control are increasingly prevalent. The book explores these issues through case studies from Australia, Canada and New Zealand. Aynsley Kellow argues for new approaches to electricity planning, which offer both economic and environmental benefits.
