Note: Supplemental materials are not guaranteed with Rental or Used book purchases.
- ISBN: 9780470472088 | 0470472081
- Cover: Hardcover
- Copyright: 12/2/2009
Addressing the economic, social, and security aspects of the operation and planning of restructured electric power systems as envisioned by the NSF-ONR EPNES initiative, Economic Market Design and Planning for Electric Power Systems introduces cutting-edge developments in electric power systems operation and control, risk-based power system planning, and electric market design. The book recognizes the importance of the design of robust power networks to achieve sustainable economic growth on a global scale, making it a suitable resource for engineers, faculty members, and students.
James Momoh was chair of the Electrical Engineering Department at Howard University and director of the Center for Energy Systems and Control. In 1987, Momoh received a National Science Foundation (NSF) Presidential Young Investigator Award. He is a Fellow of the IEEE, a Distinguished Fellow of the Nigerian Society of Engineers (NSE), and a Fellow of the Nigerian Academy of Engineering (NAE). His current research activities for utility firms and government agencies span several areas in systems engineering, optimization, and energy systems' control of terrestrial, space, and naval complex and dynamic networks. He has authored more than 225 technical papers in refereed journals, transactions, or proceedings, as well as several textbooks. Lamine Mili is Professor of Electrical and Computer Engineering at Virginia Tech. An IEEE Senior Member, Dr. Mili is also a member of the Institute of Mathematical Statistics and the American Statistical Association. He is a recipient of a 1990 NSF Research Initiation Award and a 1992 NSF Young Investigator Award. His research interests include risk assessment and management of critical infrastructures, cascading failure modeling, power system planning, power system analysis and control, electric load forecasting, bifurcation theory and chaos, nonlinear optimization, and robust statistics as applied to engineering problems. Dr. Mili is the cofounder and coeditor of the International Journal of Critical Infrastructures.
Preface | p. xi |
Contributors | p. xiii |
A Framework for Interdisciplinary Research and Education | p. 1 |
Introduction | p. 1 |
Power System Challenges | p. 3 |
The Power System Modeling and Computational Challenge | p. 4 |
Modeling and Computational Techniques | p. 5 |
New Curriculum that Incorporates the Disciplines of Systems Theory, Economic and Environmental Science for the Electric Power Network | p. 5 |
Solution of the EPNES Architecture | p. 5 |
Modular Description of the EPNES Architecture | p. 5 |
Some Expectations of Studies Using EPNES Benchmark Test Beds | p. 7 |
Implementation Strategies for EPNES | p. 8 |
Performance Measures | p. 8 |
Definition of Objectives | p. 8 |
Selected Objective Functions and Pictorial Illustrations | p. 9 |
Test Beds for EPNES | p. 13 |
Power System Model for the Navy | p. 13 |
Civil Testbed-179-Bus WSCC Benchmark Power System | p. 15 |
Examples of Funded Research Work in Response to the EPNES Solicitation | p. 16 |
Funded Research by Topical Areas/Groups under the EPNES Award | p. 16 |
EPNES Award Distribution | p. 17 |
Future Directions of EPNES | p. 18 |
Conclusions | p. 18 |
Acknowledgments | p. 19 |
Bibliography | p. 19 |
Modeling Electricity Markets: A Brief Introduction | p. 21 |
Introduction | p. 21 |
The Basic Structure of a Market for Electricity | p. 22 |
Consumer Surplus | p. 23 |
Congestion Rents | p. 24 |
Market Power | p. 24 |
Architecture of Electricity Markets | p. 25 |
Modeling Strategic Behavior | p. 26 |
Brief Literature Review | p. 26 |
Price-Based Models | p. 27 |
Quality-Based Models | p. 30 |
The Locational Marginal Pricing System of PJM | p. 32 |
Introduction | p. 32 |
Congestion Charges and Financial Transmission Rights | p. 33 |
Example of a 3-Bus System | p. 34 |
LMP Calculation Using Adaptive Dynamic Programming | p. 39 |
Overview of the Static LMP Problem | p. 39 |
LMP in Stochastic and Dynamic Market with Uncertainty | p. 40 |
Conclusions | p. 42 |
Bibliography | p. 42 |
Alternative Economic Criteria and Proactive Planning for Transmission Investment in Deregulated Power Systems | p. 45 |
Introduction | p. 46 |
Conflict Optimization Objectives for Network Expansions | p. 49 |
A Radial-Network Example | p. 49 |
Sensitivity Analysis in the Radial-Network Example | p. 56 |
Policy Implications | p. 57 |
Proactive Transmission Planning | p. 57 |
Model Assumptions | p. 58 |
Model Notation | p. 60 |
Model Formulation | p. 61 |
Transmission Investment Models Comparison | p. 62 |
Illustrative Example | p. 64 |
Conclusions and Future Work | p. 67 |
Bibliography | p. 68 |
Appendix | p. 68 |
Payment Cost Minimization with Demand Bids and Partial Capacity Cost Compensations for Day-Ahead Electricity Auctions | p. 71 |
Introduction | p. 72 |
Literature Review | p. 73 |
Problem Formulation | p. 73 |
Solution Methodology | p. 75 |
Augmented Lagrangian | p. 76 |
Formulating and Solving Unit Subproblems | p. 76 |
Formulating and Solving Bid Subproblems | p. 79 |
Solve the Dual Problem | p. 80 |
Generating Feasible Solutions | p. 80 |
Initialization and Stopping Criteria | p. 81 |
Results and Insights | p. 81 |
Conclusion | p. 84 |
Acknowledgment | p. 84 |
Bibliography | p. 84 |
Dynamic Oligopolistic Competition in an Electric Power Network and Impacts of Infrastructure Disruptions | p. 87 |
Introduction and Motivation | p. 87 |
Summary and Modeling Approach | p. 89 |
Model Description | p. 90 |
Notation | p. 90 |
Generating Firm's Extremal Problem | p. 92 |
ISO's Problem | p. 94 |
Formulation of NCP | p. 95 |
Complementary Conditions for Generating Firms | p. 95 |
Complementary Conditions for the ISO | p. 97 |
The Complete NCP Formulation | p. 98 |
Numerical Example | p. 98 |
Conclusions and Future Work | p. 108 |
Acknowledgment | p. 108 |
Appendix: Glossary of Relevant Terms form Electricity Economics | p. 108 |
Bibliography | p. 110 |
Plant Reliability in Monopolies and Duopolies: A Comparison of Market Outcomes with Socially Optimal Levels | p. 113 |
Introduction | p. 114 |
Modeling Framework | p. 116 |
Profit Maximizing Outcome of a Monopolistic Generator | p. 118 |
Nash Equilibrium in a Duopolistic Market Structure | p. 120 |
Social Optimum | p. 122 |
Comparison of Equilibria and Discussion | p. 123 |
Asymmetric Maintenance Policies | p. 125 |
Conclusion | p. 127 |
Acknowledgment | p. 128 |
Bibliography | p. 128 |
Building an Efficient Reliable and Sustainable Power System: An Interdisciplinary Approach | p. 131 |
Introduction | p. 131 |
Shortcoming in Current Power Systems | p. 132 |
Our Proposed Solutions to the Above Shortcomings | p. 132 |
Overview of Concepts | p. 133 |
Reliability | p. 133 |
Bulk Power System Reliability Requirements | p. 134 |
Public Perception | p. 135 |
Power System / New Technology | p. 135 |
Theoretical Foundations: Theoretical Support for Handling Contingencies | p. 140 |
Contingency Issues | p. 140 |
Foundation of Public Perception | p. 141 |
Available Transmission Capability (ATC) | p. 142 |
Reliability Measures/Indices | p. 143 |
Expected Socially Unserved Energy (ESUE) and Load Loss | p. 145 |
System Performance Index | p. 147 |
Computation of Weighted Probability Index (WPI) | p. 148 |
Design Methodologies | p. 149 |
Implementation Approach | p. 150 |
Load Flow Analysis with FACTS Devices (TCSC) for WSCC System | p. 150 |
Performance Evaluation Studies on IEEE 30-Bus and WSCC Systems | p. 151 |
Implementation Results | p. 151 |
Load Flow Analysis with FACTS Devices (TCSC) for WSCC System | p. 151 |
Performance Evaluation Studies on IEEE 30-Bus System | p. 153 |
Performance Evaluation Studies on the WSCC System | p. 155 |
Conclusion | p. 157 |
Acknowledgments | p. 158 |
Bibliography | p. 158 |
Risk-Based Power System Planning Integrating Social and Economic Direct and Indirect Costs | p. 161 |
Introduction | p. 162 |
The Partitioned Multiobjective Risk Method | p. 164 |
Partitioned Multiobjective Risk Method Applied to Power System Planning | p. 166 |
Integrating the Social and Economic Impacts in Power System Planning | p. 169 |
Energy Crises and Public Crises | p. 170 |
Describing the Methodology for Economic and Social Cost Assessment | p. 170 |
The CRA Method | p. 172 |
Data Analysis of the California Crises and of the 2003 U.S. Blackout | p. 173 |
Conclusions and Future Work | p. 176 |
Bibliography | p. 177 |
Models for Transmission Expansion Planning Based on Reconfigurable Capacitor Switching | p. 181 |
Introduction | p. 181 |
Planning Processes | p. 184 |
Engineering Analyses and Cost Responsibilities | p. 185 |
Cost Recovery for Transmission Owners | p. 187 |
Economically Motivated Expansion | p. 188 |
Further Reading | p. 189 |
Transmission Limits | p. 189 |
Decision Support Models | p. 191 |
Optimization Formulation | p. 192 |
Planning Transmission Circuits | p. 195 |
Planning Transmission Control | p. 199 |
Dynamic Analysis | p. 213 |
Market Efficiency and Transmission Investment | p. 219 |
Summary | p. 232 |
Acknowledgments | p. 232 |
Bibliography | p. 232 |
Next Generation Optimization for Electric Power Systems | p. 237 |
Introduction | p. 237 |
Structure of the Next Generation Optimization | p. 239 |
Overview of Modules | p. 239 |
Organization | p. 241 |
Foundations of the Next Generation Optimization | p. 242 |
Overview | p. 242 |
Decision Analysis Tools | p. 243 |
Selected Methods in Classical Optimization | p. 248 |
Optimal Control | p. 250 |
Dynamic Programming (DP) | p. 252 |
Adaptive Dynamic Programming (ADP) | p. 253 |
Variants of Adaptive Dynamic Programming | p. 255 |
Comparison of ADP Variants | p. 258 |
Application of Next Generation Optimization to Power Systems | p. 260 |
Overview | p. 260 |
Framework for Implementation of DSOPF | p. 261 |
Applications of DSOPF to Power Systems Problems | p. 262 |
Grant Challenges in Next Generation Optimization and Research Needs | p. 272 |
Concluding Remarks and Benchmark Problems | p. 273 |
Acknowledgments | p. 273 |
Bibliography | p. 274 |
Index | p. 277 |
Table of Contents provided by Ingram. All Rights Reserved. |
What is included with this book?
The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.
The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.