Internationally, the electric power industry is currently undergoing unprecedented reform. The deregulation of the electricity supply industry has introduced new opportunities for competition and has made the maintenance of economical and reliable supplies of electricity a tremendous challenge. Faced by an increasingly complicated existence, power utilities need efficient tools to ensure that electrical energy of the quality desired can be provided at the lowest possible cost. Operation of Market-oriented Power Systems provides effective computational tools for the efficient operation of restructured power systems covering all the major operational issues such as: congestion management; available transfer capability calculations; price forecasting and optimal bidding strategies. A review of international research and world-wide industrial practice covered in each chapter gives the reader a broader understanding of the state of the art in this exciting field.
Operation of Market-oriented Power Systems will be a useful reference for professional engineers and researchers in the operation and control of modern power systems as all within the power industry face up to the changes required to provide safe, reliable and profitable electricity in an increasingly competitive market.