Power System Economics

Name: Power System Economics
Brand: Unknown
SKU: 9780471150404
Price: 197.99 NZD
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Designing Markets for Electricity

By Steven Stoft

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3.96

( 25 ratings, 4 reviews)

Summary

Power System Economics offers the first systematic exploration of electricity market design, spanning from fundamental concepts to advanced topics. It elucidates why current markets experience instability and how uncoordinated policies lead to boom-bust investment cycles. The book covers key economic, engineering, and market design principles, linking short-term reliability with long-term investment challenges. Detailed discussions include day-ahead and real-time markets, market power, locational pricing, transmission rights, and pricing losses. Nearly 250 figures, tables, and concise explanations support understanding of complex issues such as auctions, pricing fallacies, and various market indices.
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Format: Paperback / softback

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Power System Economics

$197⁹⁹

Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?

Ideal for engineers, economists, regulators, and legal professionals engaged in electricity markets and policy. Non-technical introductions make challenging concepts approachable, catering to both academic and professional readers seeking to deepen their knowledge of power system economics.

The first systematic presentation of electricity market design-from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues-such as why today's markets are inherently unstable.

Description

The first systematic presentation of electricity market design from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues such as why today's markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and engineering policies cause boom-bust investment swings and provides guidance and tools for fixing broken markets. It also takes a provocative look at the operation of pools and power exchanges.

Part 1 introduces key economic, engineering and market design concepts. Part 2 links short-run reliability policies with long-run investment problems. Part 3 examines classic designs for day-ahead and real-time markets. Part 4 covers market power, and Part 5 covers locational pricing, transmission rights, and pricing losses. The non-technical introductions to all chapters allow easy access to the most difficult topics. Steering an independent course between ideological extremes, Power System Economics provides background material for engineers, economists, regulators, and lawyers alike.

With nearly 250 figures, tables, side bars, and concisely-stated results and fallacies, the 44 chapters cover such essential topics as auctions, fixed-cost recovery from marginal cost, pricing fallacies, real and reactive power flows, Cournot competition, installed capacity markets, HHIs, the Lerner index, and price caps.

About the Author: Steven Stoft has a Ph.D. in economics (U.C. Berkeley) as well as a background in physics, math, engineering, and astronomy. He spent a year inside FERC and now consults for PJM, California, and private generators. Learn more at www.stoft.com.

Book Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?

Acclaimed for its comprehensive and accessible treatment, this book has been praised as essential reading for those wanting to understand electricity cost and price relationships. Electrical Apparatus highlighted it as invaluable for grasping energy production and distribution economics. The Journal of Energy Literature noted the high quality of content, recommending it for a broad audience.

Book Details

INFORMATION

ISBN: 9780471150404

Publisher: John Wiley & Sons Inc

Format: Paperback / softback

Date Published: 24 June 2002

Country: United States

Imprint: Wiley-IEEE Press

Audience: Tertiary education, Professional and scholarly

DIMENSIONS

Spine width: 31.0mm

Width: 185.0mm

Height: 234.0mm

Weight: 862g

Pages: 496

Collections

Education & Reference Non-Fiction Steven Stoft

About the Author

STEVEN STOFT has a BS in engineering mathematics and a PhD in economics from the University of California at Berkeley, and over ten years of experience in power market analysis and design. He has held positions at FERC, the University of California's Energy Institute, and the Lawrence Berkeley National Laboratory. He is currently a consultant to the Pennsylvania-New Jersey-Maryland ISO (PJM), California's Electricity Oversight Board, the U.S. Department of Energy, and an independent power producer.