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Economic Market Design and Planning for Electric Power Systems by James Momoh and Lamine Mili
Book Details :
LanguageEnglish
Pages310
FormatPDF
Size4.42 MB


Economic Market Design and Planning for Electric Power Systems by James Momoh and Lamine Mili



PREFACE to Economic Market Design and Planning for Electric Power Systems:

This is a textbook of a two - book series based on interdisciplinary research activities carried out by researchers in power engineering, economics and systems engineering as envisioned by the NSF - ONR EPNES initiative.

This initiative has funded researchers, university professors, and graduate students engaged in interdisciplinary work in all the aforementioned areas. Both textbooks are written by experts in economics, social sciences, and electric power systems.

They shall appeal to a broad audience made up of policy makers, executives and engineers of electric utilities, university faculty members and graduate students as well as researchers working in cross - cutting areas related to electric power systems, economics, and social sciences.

While the companion textbook of the two series addresses the operation and control of electric energy processing systems, this Economic Market Design and Planning for Electric Power Systems textbook focuses on the economic, social and security aspects of the operation and planning of restructured electric power systems.

Specifically, various metrics are proposed to assess the resiliency of a power system in terms of survivability, security, efficiency, sustainability, and affordability in a competitive environment.


This Economic Market Design and Planning for Electric Power Systems textbook meets the need for power engineering education on market economics and risk - based power systems planning.

It proposes a multidisciplinary research - based curriculum that prepares engineers, economists, and social scientists to plan and operate power systems in a secure and efficient manner in a competitive environment.

It recognizes the importance of the design of robust power networks to achieve sustainable economic growth on a global scale.

To our best knowledge, there is no textbook that combines all these fields. The purpose of this Economic Market Design and Planning for Electric Power Systems textbook is to provide a working knowledge as well as cutting - edge areas in electric power systems theories and applications.

This Economic Market Design and Planning for Electric Power Systems textbook is organized in ten chapters as follows:

• Chapter 1 , which is authored by J. Momoh, introduces the EPNES initiative.

• Chapter 2 , which is authored by A. Garcia, L. Mili, and J. Momoh, provides a comprehensive overview of the economic structure of present and future electricity markets from the combined perspectives of economics and electrical engineering.

• Chapter 3 , which is authored by E. E. Sauma and S. S. Oren, advocates the use of a multistage game model for transmission expansion as a new planning paradigm that incorporates the effects of strategic interaction between generation and transmission investments and the impact of transmission on spot energy prices.

• Chapter 4 , which is authored by P. B. Luh, Y. Chen, J. H. Yan, G. A. Stern, W. E. Blankson, and F. Zhao, deals with payment cost minimization with  demand bids and partial capacity cost compensations for day - ahead electricity auctions.

• Chapter 5 , which is authored by R. Mookherjee, B. F. Hobbs, T. L. Friesz,\ and M. A. Rigdon, puts forward a dynamic game theoretic model of oligopolistic competition in spatially distributed electric power markets having a 24 - hour planning horizon.


• Chapter 6 , which is authored by G. Deltas and C. Hadjicostis, investigates the interaction between system availability/reliability, economic restructuring, and regulating constraints.

• Chapter 7 , which is authored by J. A. Momoh, P. Fanara Jr., H. Kurban, and L. J. Iwarere, introduces economic, technical, modeling and performance indices for reliability measures across boundary disciplines.

• Chapter 8 , which is authored by L. Mili and K. Dooley, investigates the decision making processes associated with the risk assessment and management of bulk power transmission systems under a unifi ed methodological framework of security and survivability objectives.

• Chapter 9 , which is authored by J. McCalley, R. Kumar, V. Ajjarapu, O. Volij, H. Liu, L. Jin, and W. Shang, introduces models for power transmission system enhancement by integrating economic analysis of the transmission cost to accommodate an informed business decision. Finally,

• Chapter 10 , which is authored by J. Momoh, elaborates on next generation optimization for electric power systems. 

We are grateful to Katherine Drew from ONR for providing fi nancial and moral support of this initiative, Ed Zivi from ONR for providing the benchmarks, colleagues from ONR and NSF for providing a fostering environment to this work to grow and fl ourish.

We thank former NSF Division Directors, Dr. Rajinder Khosla and Dr. Vasu Varadan, who provided seed funding for this initiative. We also thank Dr. Paul Werbos and Dr. Kishen Baheti from NSF for facilitating interdisciplinary discussions on power systems reliability and education.

We are thankful to NSF - DUE program directors, Prof. Rogers from the NSF Division of Undergraduate Education and Dr. Bruce Hamilton of NSF BES Division, and.

We acknowledge graduate students from Howard University and Virginia Tech for helping us to put together this Economic Market Design and Planning for Electric Power Systems book.


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