Restructured Electric Power Systems
Analysis of Electricity Markets with Equilibrium Models
IEEE Press Series on Power Engineering
1. Edition July 2010
330 Pages, Hardcover
Wiley & Sons Ltd
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.
CONTRIBUTORS.
1 FUNDAMENTALS OF ELECTRIC POWER SYSTEMS (Xiao-PingZhang).
1.1 Introduction of Electric Power Systems.
1.2 Electric Power Generation.
1.3 Structure of Electric Power Systems.
1.4 Ultra-High Voltage Power Transmission.
1.5 Modeling of Electric Power Systems.
1.6 Power Flow Analysis.
1.7 Optimal Operation of Electric Power Systems.
1.8 Operation and Control of Electric PowerSystems--SCADA/EMS.
1.9 Active Power and Frequency Control.
1.10 Voltage Control and Reactive Power Management.
1.11 Applications of Power Electronics to Power SystemControl.
References.
2 RESTRUCTURED ELECTRIC POWER SYSTEMS AND ELECTRICITY MARKETS(Kwok W. Cheung, Gary W. Rosenwald, Xing Wang, and David I.Sun).
2.1 History of Electric Power Systems Restructuring.
2.2 Structure of Electricity Markets.
2.3 Design of Electricity Markets.
2.4 Operation of Electricity Markets.
2.5 Computation Tools for Electricity Markets.
2.6 Final Remarks.
References.
3 OVERVIEW OF ELECTRICITY MARKET EQUILIBRIUM PROBLEMS AND MARKETPOWER ANALYSIS (Xiao-Ping Zhang).
3.1 Game Theory and Its Applications.
3.2 Electricity Markets and Market Power.
3.3 Market Power Monitoring, Modeling, and Analysis.
3.4 Application of the Equilibrium Models in the ElectricityMarkets.
3.5 Computational Tools for Electricity Market EquilibriumModeling and Market Power Analysis.
3.6 Solution Techniques for MPECs.
3.7 Solution Techniques for EPECs.
3.8 Technical Challenges for Solving MPECs and EPECs.
3.9 Software Resources for Large-Scale NonlinearOptimization.
References.
4 COMPUTING THE ELECTRICITY MARKET EQUILIBRIUM: USES OF MARKETEQUILIBRIUM MODELS (Ross Baldick).
4.1 Introduction.
4.2 Model Formulation.
4.3 Market Operation and Price Formation.
4.4 Equilibrium Defi nition.
4.5 Computation.
4.6 Diffi culties with Equilibrium Models.
4.7 Uses of Equilibrium Models.
4.8 Conclusion.
Acknowledgment.
References.
5 HYBRID BERTRAND-COURNOT MODELS OF ELECTRICITY MARKETS WITHMULTIPLE STRATEGIC SUBNETWORKS AND COMMON KNOWLEDGE CONSTRAINTS(Jian Yao, Shmuel S. Oren, and Benjamin F. Hobbs).
5.1 Introduction.
5.2 Role of the ISO.
5.3 The Hybrid Subnetwork Model.
5.4 Numerical Example for the Subnetworks Model.
5.5 Bertrand Model with Common Knowledge Constraints.
5.6 Numerical Example of Equilibrium with Common KnowledgeConstraints.
5.7 Concluding Remarks.
Acknowledgments.
References.
6 ELECTRICITY MARKET EQUILIBRIUM WITH REACTIVE POWER CONTROL(Xiao-Ping Zhang).
6.1 Introduction.
6.2 AC Power Flow Model in the Rectangular Coordinates.
6.3 Electricity Market Analysis Using AC Optimal Power Flow inthe Rectangular Coordinates.
6.4 Electricity Market Equilibrium Analysis.
6.5 Computing the Electricity Market Equilibrium with AC NetworkModel.
6.6 Implementation Issues of Electricity Market EquilibriumAnalysis with AC Network Model.
6.7 Numerical Examples.
6.8 Conclusions.
6.9 Appendix.
Acknowledgments.
References.
7 USING MARKET SIMULATIONS FOR ECONOMIC ASSESSMENT OFTRANSMISSION UPGRADES: APPLICATION OF THE CALIFORNIA ISO APPROACH(Mohamed Labib Awad, Keith E. Casey, Anna S. Geevarghese,Jeffrey C. Miller, A. Farrokh Rahimi, Anjali Y. Sheffrin, MingxiaZhang, Eric Toolson, Glenn Drayton, Benjamin F. Hobbs, and Frank A.Wolak).
7.1 Introduction.
7.2 Five Principles.
7.3 Palo Verde-Devers NO. 2 Study.
7.4 Recent Applications of Team to Renewables.
7.5 Conclusion.
Acknowledgments.
References.
INDEX.
