Price-Based Commitment Decisions in the Electricity Market
General Material Designation
[Book]
First Statement of Responsibility
by Eric Allen, Marija Ilić.
.PUBLICATION, DISTRIBUTION, ETC
Place of Publication, Distribution, etc.
London :
Name of Publisher, Distributor, etc.
Imprint: Springer,
Date of Publication, Distribution, etc.
1999.
SERIES
Series Title
Advances in Industrial Control,
ISSN of Series
1430-9491
CONTENTS NOTE
Text of Note
Introduction -- The Unit Commitment Problem -- Unit Commitment in a Deregulated Environment -- Survey of the Dynamic Programming Formulation -- Unit Commitment for an Individual Power Producer -- Price Process of Electricity -- Computational Complexity of Unit Commitment -- Forward Contracts and Futures -- Reserve Markets for Power System Reliability -- Unit Commitment in Congested Transmission Systems.
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SUMMARY OR ABSTRACT
Text of Note
With major structural changes will need to be thoroughly reexamined. This book discusses decision making for problems where a particular decision affects the options available at the next decision time. The deregulation of the electric utility industry will shift the emphasis from a cost-based to a price-based approach; the resulting occuring in the electric power industry, many long-standing ways of operation increase in uncertainty requires that a stochastic approach be adopted for optimal decision-making. This monograph covers a wide range of topics including dynamic programming, ordinal optimization, price modelling and forecasting, future market decisions, reserve market decisions and decisions in a congested market place.