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Computational Auction Mechanisms for Restructured Power Industry Operation : Power Electronics and Power Systems - Gerald B. Sheble

Computational Auction Mechanisms for Restructured Power Industry Operation

Power Electronics and Power Systems

Hardcover Published: 31st March 1999
ISBN: 9780792384755
Number Of Pages: 340

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`Electric energy must be treated as a commodity which can be bought, sold, and traded, taking into account its time- and space-varying values and costs.` Spot Pricing of Electricity, Schweppe et al, 1988.
Computational Auction Mechanisms for Restructured Power Industry Operation outlines the application of auction methods for all aspects of power system operation, primarily for a competitive environment. A complete description of the industry structure as well as the various markets now being formed is given. A thorough introduction to auction basics is included to explain how auctions have grown in other industries. Auction methods are compared to classical techniques for power system analysis, operations, and planning. The traditional applications of economic dispatch, optimal power flow and unit commitment are compared to auction mechanisms. Algorithms for auctions using linearized power flow equations, DC power flow equations, and AC power flow equations are included. The bundling of supportive services, known as ancillary services within the United States, is discussed. Extensions to the basic auction algorithms for inclusion of supportive services as well as algorithms for scheduling and bidding on generation for GENCOs or independent power producers are presented. Algorithms for scheduling and contracting with customers are also presented for energy service companies. An introduction to the various commodity and financial market products includes the use of futures and options for GENCOs. The material is useful for students performing research on the new business environment based on competition. Regulators will find information on initial methods of designing and evaluating market systems, and power exchange and financial analysts will find information on the interdependence of markets and power system-based techniques for risk management. This information compares the new business environment solutions with old business environment solutions.
Computational Auction Mechanisms for Restructured Power Industry Operation provides a first introduction to how electricity will be traded as a commodity in the future.

Prefacep. ix
Acknowledgmentsp. xiii
Introductionp. 1
History of the Electric Industryp. 1
The Shift Toward Deregulationp. 3
Choosing a Competitive Frameworkp. 6
Preparing for Competitionp. 7
Present Overall Problemp. 8
Economic Evolutionp. 10
Market Structurep. 11
Fully Evolved Marketplacep. 11
Computerized Auction Market Structurep. 15
Role of Markets in Societyp. 17
Commodity Contractsp. 18
Auction Market Mechanismp. 19
The Spot Market-Placep. 19
Commodity Marketsp. 20
Commodity and Futures Trading Commission's Regulationsp. 21
General Exchange Regulationsp. 23
The Energy Marketplacep. 23
Regulation of Pricing of Ancillary Servicesp. 26
Regulatory Questionsp. 27
Engineering Research Problemsp. 28
Industrial Infrastructurep. 33
Review of Deregulationp. 33
Auction Mechanismsp. 38
Evaluation and Comparison of Auction Institutionsp. 51
Risk Aversionp. 54
Auctions in Industrial Marketsp. 59
Overview of Brokerage/auction Systemsp. 70
Schweppe's Theory of Spot Pricingp. 75
Auction as Linear Programp. 77
Linear Programmingp. 77
Basic Discrete Auctionsp. 78
Degeneracy and Auctions as an Assignment Problemp. 82
More General Modelsp. 97
Vertically Integrated Industryp. 100
Decentralization in a Nonlinear Modelp. 103
Economic Dispatch, Unit Commitment, and Optimal Power Flow as Auctionsp. 107
Economic Dispatchp. 107
Unit Commitmentp. 114
Auction Mechanism with Classical Optimizationp. 131
Auction Formulationp. 135
Utilizing Interior-point Linear Programming Algorithm...p. 141
Market Powerp. 152
Supporting Servicesp. 160
Linear Programming or Mixed-integer Programmingp. 164
Transmission Loss Allocationp. 164
General Operations Planningp. 165
General Corporate Modelp. 165
Forecasting Demand, Markets, and Competitorsp. 166
Multiple Product Production Frontierp. 175
Electric Energy Industry Modelingp. 177
Inventory Contract Managementp. 179
Cash Managementp. 181
Transaction Portfolio Managementp. 182
Risk Managementp. 183
Futures Allocationsp. 196
Auction Market Dynamic Simulationp. 199
AGC Simulator in Price-based Operationp. 207
Advanced Conceptsp. 218
Genco Operationp. 219
Introductionp. 219
GENCO Case Studiesp. 221
Building Fuzzy Bidding Strategies for the Competitive Generatorp. 240
Profit-based Unit Commitment for the Competitive Environmentp. 246
Price-based UC Resultsp. 251
Handling Uncertainty in Price and Load Forecastsp. 255
Improving Bidding Strategies Through Intelligent Data Miningp. 256
Bidding Strategies for LR Based Power Auctionp. 259
Esco Operationp. 273
Determining Value in a Deregulated Marketp. 274
Cost-based Load Management Using LPp. 282
Profit-based Load Management Using LPp. 289
Battery Stored Energy Control for Price-based Operationp. 299
Bibliographyp. 311
Glossaryp. 335
Indexp. 339
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780792384755
ISBN-10: 079238475X
Series: Power Electronics and Power Systems
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 340
Published: 31st March 1999
Publisher: Springer
Country of Publication: NL
Dimensions (cm): 23.5 x 15.5  x 2.54
Weight (kg): 1.5