Economics of Power Systems

This book provides an overview of the latest microeconomic concepts and operations research techniques needed to understand the design and operation of power markets, including the actions of producers, consumers, operators, and regulators. It features illustrative examples and exercises to help readers grasp these concepts and procedures.

Format: Paperback / softback
Length: 317 pages
Publication date: 30 March 2023
Publisher: Springer Nature Switzerland AG

This comprehensive book delves into the latest microeconomic concepts and operations research (OR) techniques essential for understanding the design and operation of power markets, as well as the actions of their agents: producers, consumers, operators, and regulators. In today's rapidly evolving power system environment, characterized by the integration of an increasing number of no-marginal-cost renewable sources, the emergence of highly competitive storage facilities, the surge in demand responsiveness, and the widespread adoption of communication channels enabling distributed decision-making, it is crucial to reassess the microeconomic concepts and OR techniques required by graduate students and practitioners in the electric energy field.

To meet these challenges, this accessible tutorial-style book offers a wealth of illustrative examples to facilitate a deep understanding of the economic concepts and OR procedures employed by power market professionals. The authors elucidate these concepts and procedures, providing a clear vision of a future dominated by renewable energy sources. Each chapter is accompanied by exercises to reinforce learning and application of the material.

By exploring the interplay between market participants, pricing mechanisms, and regulatory frameworks, this book equips readers with the tools they need to navigate the complexities of the power industry. It serves as a valuable resource for students, researchers, and professionals seeking to advance their knowledge and expertise in the field of electric energy economics.

Weight: 510g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030928735
Edition number: 1st ed. 2022