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Power System Economics - Stoft

Power System Economics Designing Markets for Electricity Steven Stoft IEEE Press & WILEY-INTERSCIENCE A JOHN WILEY & SONS, INC., PUBLICATION Copyright 2002 by The Institute of Electrical and Electronics Engineers, Inc. ISBN 0-471-15040-1 Contents in BriefList of Results and FallaciesxivPrefacexviiiAcronyms and AbbreviationsxxSymbolsxxiiPart 1. Power Market FundamentalsPrologue2 Why Deregulate?6 What to Deregulate17 Pricing Power , Energy, and Capacity30 Power Supply and Demand40 What Is Competition?49 Marginal Cost in a Power Market60 Market Structure74 Market Architecture82 Designing and Testing Market Rules93 Part 2.

CHAPTER 1-3 Pricing Power, Energy, and Capacity 31 Working Summary Readers wishing to gain only a working knowledge of measurement units for use in later chapters should understand the following.

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