{"product_id":"power-system-economics-designing-markets-for-electricity-paperback-softback-9780471150404","title":"Power System Economics; Designing Markets for Electricity (Paperback \/ softback) 9780471150404","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003ePower System Economics\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eDesigning Markets for Electricity\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eSteven Stoft (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780471150404, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 24 June 2002\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e496 pages\u003cbr\u003e23.4 x 18.5 x 3 cm, 0.862 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"This book is for anyone seeking to understand how cost\/price relationships involved in electrical energy production and distribution may ideally be determined.\" (\u003ci\u003eElectrical Apparatus\u003c\/i\u003e, August 2002)  \u003cp\u003e\"...the quality of its content deserves a wide readership...\"(\u003ci\u003ePower System Economics The Journal of Energy Literature\u003c\/i\u003e, Vol.V111, No.2, 2002)\u003c\/p\u003e\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThe first systematic presentation of electricity market design-from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues-such as why today's markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and engineering policies cause boom-bust investment swings and provides guidance and tools for fixing broken markets. It also takes a provocative look at the operation of pools and power exchanges.\u003cbr\u003e * Part 1 introduces key economic, engineering and market design concepts.\u003cbr\u003e * Part 2 links short-run reliability policies with long-run investment problems.\u003cbr\u003e * Part 3 examines classic designs for day-ahead and real-time markets.\u003cbr\u003e * Part 4 covers market power, and\u003cbr\u003e * Part 5 covers locational pricing, transmission right and pricing losses.\u003cbr\u003e The non-technical introductions to all chapters allow easy access to the most difficult topics. Steering an independent course between ideological extremes, it provides background material for engineers, economists, regulators and lawyers alike. With nearly 250 figures, tables, side bars, and concisely-stated results and fallacies, the 44 chapters cover such essential topics as auctions, fixed-cost recovery from marginal cost, pricing fallacies, real and reactive power flows, Cournot competition, installed capacity markets, HHIs, the Lerner index and price caps.\u003cbr\u003e \u003cbr\u003e About the Author\u003cbr\u003e Steven Stoft has a Ph.D. in economics (U.C. Berkeley) as well as a background in physics, math, engineering, and astronomy. He spent a year inside FERC and now consults for PJM, California and private generators. Learn more at www.stoft.com.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eList of Results and Fallacies xiv\u003c\/p\u003e \u003cp\u003ePreface xviii\u003c\/p\u003e \u003cp\u003eAcronyms and Abbreviations xx\u003c\/p\u003e \u003cp\u003eSymbols xxii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1. Power Market Fundamentals\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrologue 2\u003c\/p\u003e \u003cp\u003eWhy Deregulate? 6\u003c\/p\u003e \u003cp\u003eWhat to Deregulate 17\u003c\/p\u003e \u003cp\u003ePricing Power, Energy, and Capacity 30\u003c\/p\u003e \u003cp\u003ePower Supply and Demand 40\u003c\/p\u003e \u003cp\u003eWhat Is Competition? 49\u003c\/p\u003e \u003cp\u003eMarginal Cost in a Power Market 60\u003c\/p\u003e \u003cp\u003e\u003ca href=\"file:\/\/172.24.195.5\/Wiley_02\/Wiley_CiP\/ToC%20PDF%20Automation\/Image%20format\/Batch%201\/Final\/9780471150404.docx#_TOC_250000\"\u003eMarket Structure 74\u003c\/a\u003e\u003c\/p\u003e \u003cp\u003eMarket Architecture 82\u003c\/p\u003e \u003cp\u003eDesigning and Testing Market Rules 93\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2. Reliability, Price Spikes and Investment Reliability and Investment Policy    108\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrice Spikes Recover Fixed Costs 120\u003c\/p\u003e \u003cp\u003eReliability and Generation 133\u003c\/p\u003e \u003cp\u003eLimiting the Price Spikes 140\u003c\/p\u003e \u003cp\u003eValue-of-Lost-Load Pricing 154\u003c\/p\u003e \u003cp\u003eOperating-Reserve Pricing 165\u003c\/p\u003e \u003cp\u003eMarket Dynamics and the Profit Function 174\u003c\/p\u003e \u003cp\u003eRequirements for Installed Capacity 180\u003c\/p\u003e \u003cp\u003eInter-System Competition for Reliability 188\u003c\/p\u003e \u003cp\u003eUnsolved Problems 194\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3. Market Architecture\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 202\u003c\/p\u003e \u003cp\u003eThe Two-Settlement System 208\u003c\/p\u003e \u003cp\u003eDay-Ahead Market Designs 217\u003c\/p\u003e \u003cp\u003eAncillary Services 232\u003c\/p\u003e \u003cp\u003eThe Day-Ahead Market in Theory 243\u003c\/p\u003e \u003cp\u003eThe Real-Time Market in Theory 254\u003c\/p\u003e \u003cp\u003eThe Day-Ahead Market in Practice 264\u003c\/p\u003e \u003cp\u003eThe Real-Time Market in Practice 272\u003c\/p\u003e \u003cp\u003eThe New Unit-Commitment Problem 289\u003c\/p\u003e \u003cp\u003eThe Market for Operating Reserves 306\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 4. Market Power\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining Market Power 316\u003c\/p\u003e \u003cp\u003eExercising Market Power 329\u003c\/p\u003e \u003cp\u003eModeling Market Power 337\u003c\/p\u003e \u003cp\u003eDesigning to Reduce Market Power 345\u003c\/p\u003e \u003cp\u003ePredicting Market Power 356\u003c\/p\u003e \u003cp\u003eMonitoring Market Power 365\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 5. Locational Pricing\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePower Transmission and Losses 374\u003c\/p\u003e \u003cp\u003ePhysical Transmission Limits 382\u003c\/p\u003e \u003cp\u003eCongestion Pricing Fundamentals 389\u003c\/p\u003e \u003cp\u003eCongestion Pricing Methods 395\u003c\/p\u003e \u003cp\u003eCongestion Pricing Fallacies 404\u003c\/p\u003e \u003cp\u003eRefunds and Taxes 411\u003c\/p\u003e \u003cp\u003ePricing Losses on Lines 417\u003c\/p\u003e \u003cp\u003ePricing Losses at Nodes 424\u003c\/p\u003e \u003cp\u003eTransmission Rights 431\u003c\/p\u003e \u003cp\u003eGlossary 443\u003c\/p\u003e \u003cp\u003eReferences 455\u003c\/p\u003e \u003cp\u003eIndex 460\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Electronics \u0026amp; communications engineering [\u003ca title=\"See our other books on Electronics \u0026amp; communications engineering\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Electronics%20\u0026amp;%20communications%20engineering%20%5BTJ%5D%22\"\u003eTJ\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley-IEEE Press","offers":[{"title":"Brand New","offer_id":52475165770008,"sku":"9780471150404","price":72.38,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780471150404.jpg?v=1785805856","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/power-system-economics-designing-markets-for-electricity-paperback-softback-9780471150404","provider":"Freshly Printed Books","version":"1.0","type":"link"}