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Power System Economics

Steven Stoft · ISBN 9780471150404
Power System Economics | Zookal Textbooks | Zookal Textbooks
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$172.95
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Publisher John Wiley & Sons Inc (US)
Author(s) Steven Stoft
Subtitle Designing Markets for Electricity
Edition 1
Published 14th May 2002
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Designing Markets for Electricity

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 right 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, it 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.
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