Power System Economics

Power System EconomicsCondition: BRAND NEW ISBN: 9780471150404 Year: 2002 Publisher: John Wiley & Sons Inc (US) Pages: 496 Description: The first systematic presentation of electricity market design from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues such as why today's markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and

Condition: BRAND NEW
ISBN: 9780471150404
Year: 2002
Publisher: John Wiley & Sons Inc (US)
Pages: 496


Description:
The first systematic presentation of electricity market design-from
the basics to the cutting edge. Unique in its breadth and depth.
Using examples and focusing on fundamentals, it clarifies long
misunderstood issues-such as why today's markets are inherently
unstable. The book reveals for the first time how uncoordinated
regulatory and engineering policies cause boom-bust investment
swings and provides guidance and tools for fixing broken markets.
It also takes a provocative look at the operation of pools and
power exchanges.
* Part 1 introduces key economic, engineering and market design
concepts.
* Part 2 links short-run reliability policies with long-run
investment problems.
* Part 3 examines classic designs for day-ahead and real-time
markets.
* Part 4 covers market power, and
* Part 5 covers locational pricing, transmission right and pricing
losses.
The non-technical introductions to all chapters allow easy access
to the most difficult topics. Steering an independent course
between ideological extremes, it provides background material for
engineers, economists, regulators and lawyers alike. With nearly
250 figures, tables, side bars, and concisely-stated results and
fallacies, the 44 chapters cover such essential topics as auctions,
fixed-cost recovery from marginal cost, pricing fallacies, real and
reactive power flows, Cournot competition, installed capacity
markets, HHIs, the Lerner index and price caps.

About the Author
Steven Stoft has a Ph.D. in economics (U.C. Berkeley) as well as a
background in physics, math, engineering, and astronomy. He spent a
year inside FERC and