Fundamentals of Power System Economics, 2nd Edition

Fundamentals of Power System Economics, Second Edition aims to update and explain the basic economic principles underpinning the design, operation and planning of modern power systems in a competitive environment. The book discusses the basic concepts of microeconomics, organization and operation of electricity markets, market participants’ strategies, system security and ancillary services, network congestion and related LMP and transmission rights, transmission investment and generation investment. In this second edition one major addition will be a discussion of the economics of renewable energy. Chapters on transmission investment and generation investment will also be expanded.