The Economics of Electricity Markets

Nonfiction, Science & Nature, Science, Physics, Energy, Technology, Power Resources
Cover of the book The Economics of Electricity Markets by Darryl R. Biggar, Mohammad Reza Hesamzadeh, Wiley
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Darryl R. Biggar, Mohammad Reza Hesamzadeh ISBN: 9781118775721
Publisher: Wiley Publication: July 10, 2014
Imprint: Wiley-IEEE Press Language: English
Author: Darryl R. Biggar, Mohammad Reza Hesamzadeh
ISBN: 9781118775721
Publisher: Wiley
Publication: July 10, 2014
Imprint: Wiley-IEEE Press
Language: English

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
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from Wiley

Cover of the book Global Climate Change and Terrestrial Invertebrates by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Contemporary America by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book The Big Win by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Fundamentals of Cognitive Radio by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book The Field Description of Metamorphic Rocks by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book From Values to Action: The Four Principles of Values-Based Leadership by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Vegetation Description and Data Analysis by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Nerds on Wall Street by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Combining CBT and Medication by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Nikon D3300 Digital Field Guide by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book The Vest Pocket Guide to GAAP by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Designing for Learning by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Green Building and Remodeling For Dummies by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Resolving Erroneous Reports in Toxicology and Therapeutic Drug Monitoring by Darryl R. Biggar, Mohammad Reza Hesamzadeh
Cover of the book Biomimetic Principles and Design of Advanced Engineering Materials by Darryl R. Biggar, Mohammad Reza Hesamzadeh
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy