Optimization Principles: Practical Applications to the Operation and Markets of the Electric Power Industry

Description

Today's need-to-know optimization techniques, at your fingertips
The use of optimization methods is familiar territory to academicians and researchers. Yet, in today's world of deregulated electricity markets, it's just as important for electric power professionals to have a solid grasp of these increasingly relied upon techniques.
Making those techniques readily accessible is the hallmark of Optimization Principles: Practical Applications to the Operation and Markets of the Electric Power Industry.
With deregulation, market rules and economic principles dictate that commodities be priced at the marginal value of their production. As a result, it's necessary to work with ever-more-sophisticated algorithms using optimization techniques-either for the optimal dispatch of the system itself, or for pricing commodities and the settlement of markets. Succeeding in this new environment takes a good understanding of methods that involve linear and nonlinear optimization, including optimal power flow, locational marginal prices for energy, and the auction of hedging instruments.




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