Power Grid Operation in a Market Environment: Economic Efficiency and Risk Mitigation
Hong Chen
Covers the latest practices, challenges and theoretical advancements in the domain of balancing economic efficiency and operation risk mitigation
This book examines both system operation and market operation perspectives, focusing on the interaction between the two. It incorporates up-to-date field experiences, presents challenges, and summarizes the latest theoretic advancements to address those challenges. The book is divided into four parts. The first part deals with the fundamentals of integrated system and market operations, including market power mitigation, market efficiency evaluation, and the implications of operation practices in energy markets. The second part discusses developing technologies to strengthen the use of ... Read more
- Describes a new approach for mass market demand response management, and introduces new criteria to improve system performance with large scale variable generation additions
- Reviews mathematic models and solution methods of SCUC to help address challenges posed by increased operational uncertainties with high-penetration of renewable resources
- Presents a planning framework to account for the value of operational flexibility in transmission planning and to provide market mechanism for risk sharing
Power Grid Operations in a Market Environment: Economic Efficiency and Risk Mitigation is a timely reference for power engineers and researchers, electricity market traders and analysts, and market designers.
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