Restructured Electric Power Systems / IEEE Series on Power Engineering (ePub)

The latest practical applications of electricity market
equilibrium models in analyzing electricity markets

Electricity market deregulation is driving the power energy
production from a monopolistic structure into a competitive market
environment. The development of electricity markets has
necessitated the need to analyze market behavior and power.
Restructured Electric Power Systems reviews the latest
developments in electricity market equilibrium models and discusses
the application of such models in the practical analysis and
assessment of electricity markets.

Drawing upon the extensive involvement in the research and
industrial development of the leading experts in the subject area,
the book starts by explaining the current developments of
electrical power systems towards smart grids and then relates the
operation and control technologies to the aspects in electricity
markets. It explores:

* The problems of electricity market behavior and market power

* Mathematical programs with equilibrium constraints (MPEC) and
equilibrium problems with equilibrium constraints (EPEC)

* Tools and techniques for solving the electricity market
equilibrium problems

* Various electricity market equilibrium models

* State-of-the-art techniques for computing the electricity market
equilibrium problems

* The application of electricity market equilibrium models in
assessing the economic benefits of transmission expansions for
market environments, forward and spot markets, short-term power
system security, and analysis of reactive power impact

Also featured are computational resources to allow readers to
develop algorithms on their own, as well as future research
directions in modeling and computational techniques in electricity
market analysis. Restructured Electric Power Systems is an
invaluable reference for electrical engineers and power system
economists from power utilities and for professors, postgraduate
students, and undergraduate students in electrical power
engineering, as well as those responsible for the design,
engineering, research, and development of competitive electricity
markets and electricity market policy.