Price-Based Commitment Decisions in the Electricity Market
By: by Eric Allen, Marija Ilić
Contributors: Ilić, Marija
Series: Advances in Industrial Control; Advances in industrial control
Publisher: Springer London
Published: 1999
Place of publication: London
Language: eng
Format: [electronic resource] /
Number of pages: 242
ISBN-13: 9781447111627; 9781447105718
Subjects: Engineering; Engineering economy
Description: With major structural changes will need to be thoroughly reexamined. This book discusses decision making for problems where a particular decision affects the options available at the next decision time. The deregulation of the electric utility industry will shift the emphasis from a cost-based to a price-based approach; the resulting occuring in the electric power industry, many long-standing ways of operation increase in uncertainty requires that a stochastic approach be adopted for optimal decision-making. This monograph covers a wide range of topics including dynamic programming, ordinal optimization, price modelling and forecasting, future market decisions, reserve market decisions and decisions in a congested market place.
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Table of contents: title: Introduction; title: The Unit Commitment Problem; title: Unit Commitment in a Deregulated Environment; title: Survey of the Dynamic Programming Formulation; title: Unit Commitment for an Individual Power Producer; title: Price Process of Electricity; title: Computational Complexity of Unit Commitment; title: Forward Contracts and Futures; title: Reserve Markets for Power System Reliability; title: Unit Commitment in Congested Transmission Systems.