Power Markets and Economics (PDF)

It is now almost twenty years since liberalisation and the
introduction of competition was proposed for electricity utilities.
Some form of restructuring has been widely adopted around the world
to suit local objectives. The industry now faces new challenges
associated with global warming, rising prices and escalating energy
demand from developing countries like China and India. The industry
will have to cope with; managing emissions; managing variable
energy sources like wind, dev eloping clean coal technology;
accommodating distributed generation and new nuclear stations and
managing the impact of these developments on the distribution and
transmission networks. It is now necessary to consider how the
various market structures that were adopted have performed and how
they will address some of these new issues and what further changes
might be necessary.

This volume presents an all-inclusive analysis of the
electricity market structures that have been adopted around the
world and how they are performing. It provides an up-to-date
analysis of the cost of competing technologies, the operation of
energy and ancillary service markets and the impact of renewable
sources and emission restrictions. It takes a forward look at
likely future developments necessary to cope with the new emerging
issues.

* Part One introduces industry infrastructure, analysing state
utilities, the motives behind liberalisation and the resulting
structures.

* Part Two considers generation costs, including renewable
generation costs, and investigates the cost of restricting
emissions as well as transmission and distribution costs.

* Part Three discusses market operation, describing how costs
affect the organisation of power generation. It covers trading
arrangements, ancillary services, international trading and
investment.

* Part Four looks to future markets and technological
developments that will shape the industry through the next twenty
years. This includes the appraisal of investment opportunities for
global power companies and implications for market
performance.

Written by an internationally renowned consultant engineer, this
book is full of expert insight and balances fundamental methodology
and academic theory with practical information and diverse worked
examples.

This is an excellent reference on the topic for power system
engineers, regulators, banks, investors, and government energy
agencies. With its many worked examples, it is also a brilliant
tutorial accessible for postgraduates and senior undergraduates in
electrical and power engineering.