Transcription of Power System Economics - Stoft
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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 33 4. The flow of available capacity is interrupted during generator outages, but the flow of installed capacity is continuous. This chapter ignores the difference and assumes that the flow of capacity from a generator
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