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Power Grid Operation in a Market Environment : Economic Efficiency and Risk Mitigation (Hardcover) (Hong
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Most books cover electricity market and system operations. They either focus on power system modeling and operation only, deal with economics and finance only, present a more theoretical market design at a high level, or cover computation modeling, control and optimization. This book is different because it covers both system operation and market operation perspectives, focusing on the interaction between the two. It incorporates up-to-date practical field experiences with challenges, and summarizes latest theoretic advancements to address those challenges.The book is divided into four parts. The first part deals with integrated systems and market operations, including market power mitigation, market efficiency evaluation, and the implications of operating practices for energy markets. The second part discusses the developing technologies, which have huge potential to strengthen the use of the transmissions system and grid. It also accounts for the unreliable performance consistency of the wind and solar generation, and economical impacts. The third part is based on stochastic applications, uncertainties in emerging power systems, comparative approaches to the new power generations, as well as the reserves needed for power system operation. The fourth part provides us with findings and ongoing evaluations of the improvements of market efficiency via transmission switching, transmission outage, and the basic dispatch model for market clearing.