Power Systems Restructuring

1. Front Matter

   Pages i-x

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2. Setting the Stage

   1. Setting the Stage

      • Leonard S. Hyman

      Pages 1-11

3. Theoretical Challenges in Real-Time Operation

   1. Front Matter

      Pages 13-13

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   2. Power Systems Operation: Old vs. New

      • Marija Ilić, Francisco Galiana

      Pages 15-107

   3. Framework and Methods for the Analysis of Bilateral Transactions

      • Francisco D. Galiana, Marija Ilić

      Pages 109-128

4. Industry Experiences and Challenges

   1. Front Matter

      Pages 129-129

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   2. The Political Economy of the Pool

      • Richard Green

      Pages 131-166

   3. Practical Requirements for ISO Systems

      • Ralph Masiello

      Pages 167-184

5. Markets of the Future

   1. Front Matter

      Pages 185-185

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   2. Agent Based Economics

      • Gerald B. Sheblé

      Pages 187-242

   3. One-Part Markets for Electric Power: Ensuring the Benefits of Competition

      • Frank C. Graves, E. Grant Read, Philip Q. Hanser, Robert L. Earle

      Pages 243-280

6. Planning in the New Industry

   1. Front Matter

      Pages 281-281

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   2. System Planning under Competition

      • Raymond Coxe, Marija Ilić

      Pages 283-333

   3. Transmission Networks and Market Power

      • Ziad Younes, Marija Ilic

      Pages 335-384

   4. Competitive Electric Services and Efficiency

      • Stephen R. Connors

      Pages 385-401

7. Power Systems Control in the New Industry

   1. Front Matter

      Pages 403-403

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   2. New Control Paradigms for Deregulation

      • Lester H. Fink

      Pages 405-449

   3. The Control and Operation of Distributed Generation in a Competitive Electric Market

      • Judith B. Cardell, Marija Ilić

      Pages 451-516

   4. Application of Dynamic Generation Control for Predatory Competitive Advantage in Electric Power Markets

      • Thomas Gorski, Christopher DeMarco

      Pages 517-546

8. Back Matter

   Pages 547-559

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The writing of this book was largely motivated by the ongoing unprecedented world-wide restructuring of the power industry. This move away from the traditional monopolies and toward greater competition, in the form of increased numbers of independent power producers and an unbundling of the main services that were until now provided by the utilities, has been building up for over a decade. This change was driven by the large disparities in electricity tariffs across regions, by technological developments that make it possible for small producers to compete with large ones, and by a widely held belief that competition will be beneficial in a broad sense. All of this together with the political will to push through the necessary legislative reforms has created a climate conducive to restructuring in the electric power industry. Consequently, since the beginning of this decade dramatic changes have taken place in an ever-increasing list of nations, from the pioneering moves in the United Kingdom, Chile and Scandinavia, to today's highly fluid power industry throughout North and South America, as well as in the European Community. The drive to restructure and take advantage of the potential economic benefits has, in our view, forced the industry to take actions and make choices at a hurried pace, without the usual deliberation and thorough analysis of possible implications. We must admit that to speak of "the industry" at this juncture is perhaps disingenuous, even misleading.

• Electric Power
• control
• network
• power systems
• transmission

• Massachusetts Institute of Technology, Cambridge, USA

  Marija Ilic

• McGill University, Montreal, Canada

  Francisco Galiana

• Kema-ECC, Inc., Fairfax, USA

  Lester Fink

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