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1 | (6) |
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2 Fundamentals of Energy and Power Systems |
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7 | (36) |
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2.1 Physical and Engineering Basics |
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8 | (10) |
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2.1.1 Energy and Power and Thermodynamic Systems |
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8 | (4) |
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2.1.2 Laws of Thermodynamics |
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12 | (1) |
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2.1.3 Thermodynamic State Variables, Energy Transformation and Carnot Efficiency |
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13 | (5) |
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2.2 Energy, Economy and Society |
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18 | (4) |
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2.3 Challenges of Resource Availability and Environmental Damage |
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22 | (9) |
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2.3.1 Resource Availability |
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22 | (5) |
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2.3.2 Environmental Damage |
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27 | (4) |
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2.4 Energy Transformation Chain and Energy Balances |
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31 | (6) |
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2.4.1 Energy Terms and Energy Transformation Chain |
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31 | (3) |
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34 | (2) |
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36 | (1) |
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2.5 Particularities of Electricity and the Electricity Sector |
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37 | (2) |
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39 | (1) |
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2.7 Self-check of Knowledge and Understanding and Exercises |
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39 | (4) |
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41 | (2) |
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43 | (16) |
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44 | (9) |
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44 | (1) |
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3.1.2 Applications on the Demand Side |
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45 | (1) |
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46 | (2) |
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3.1.4 Demand-Side Management |
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48 | (2) |
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3.1.5 Projecting Electricity Demand |
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50 | (1) |
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3.1.6 Electricity Tariffs |
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51 | (2) |
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53 | (2) |
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55 | (1) |
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3.4 Self-check of Knowledge and Exercises |
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55 | (4) |
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57 | (2) |
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4 Electricity Generation and Operational Planning |
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59 | (74) |
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4.1 Conventional Generation Technologies |
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60 | (22) |
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4.1.1 Fossil-Fired Technologies |
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60 | (10) |
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70 | (7) |
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4.1.3 Combined Heat and Power Generation (CHP) |
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77 | (5) |
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4.2 Renewable Generation Technologies |
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82 | (27) |
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84 | (7) |
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91 | (5) |
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96 | (5) |
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101 | (3) |
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4.2.5 Other Renewable Energy Technologies |
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104 | (5) |
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4.3 Key Characteristics of Electricity Generation Technologies |
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109 | (8) |
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4.3.1 Technical and Environmental Characteristics |
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109 | (4) |
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4.3.2 Economic Characteristics |
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113 | (2) |
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4.3.3 Levelized Cost of Electricity |
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115 | (2) |
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4.4 Scheduling Electricity Generation--The Unit Commitment and Dispatch Problem |
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117 | (10) |
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4.4.1 Day-Ahead Operational Planning |
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117 | (8) |
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4.4.2 From Day-to-Day Planning to Portfolio Management |
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125 | (2) |
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127 | (1) |
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4.6 Self-check of Knowledge and Exercises |
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128 | (5) |
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131 | (2) |
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5 Electricity Transport and Storage |
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133 | (42) |
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5.1 Electricity Transmission and Distribution |
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134 | (27) |
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5.1.1 Basics of Electricity Networks |
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134 | (4) |
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5.1.2 Physical Principles of Power Flow |
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138 | (11) |
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5.1.3 Electricity Network Components |
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149 | (5) |
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154 | (7) |
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161 | (7) |
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161 | (1) |
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162 | (6) |
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168 | (1) |
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5.4 Self-check of Knowledge and Exercises |
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169 | (6) |
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171 | (4) |
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6 Regulation: Grids and Environment |
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175 | (60) |
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176 | (22) |
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6.1.1 Fundamentals of Electricity Market Regulation |
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176 | (2) |
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6.1.2 Non-discriminatory Grid Access, Unbundling and Price Regulation |
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178 | (6) |
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6.1.3 Practical Challenges of Performance-Based Regulation |
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184 | (3) |
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6.1.4 Principles of Network Pricing |
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187 | (11) |
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6.2 Environmental Effects and Environmental Policy |
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198 | (29) |
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198 | (2) |
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6.2.2 Emissions, Environmental Impacts and Emission Reduction Technologies |
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200 | (12) |
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212 | (6) |
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6.2.4 Limiting Climate Change |
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218 | (9) |
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227 | (1) |
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6.4 Self-check of Knowledge and Exercises |
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228 | (7) |
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229 | (6) |
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7 Simple Electricity Market Equilibrium Models |
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235 | (36) |
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7.1 Short-Term Market Equilibrium Without Transmission Constraints |
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236 | (11) |
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7.1.1 Simple, Graphical Approach: Merit-Order Model |
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236 | (4) |
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7.1.2 Assumptions Underlying the Concept of Perfect Competition |
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240 | (2) |
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242 | (1) |
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243 | (4) |
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7.2 Short-Term Market Equilibrium with Two Grid Nodes |
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247 | (3) |
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248 | (1) |
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249 | (1) |
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7.3 Optimal Power Flow Model and Nodal Pricing |
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250 | (5) |
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7.4 Long-Term Market Equilibrium |
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255 | (8) |
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255 | (3) |
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258 | (2) |
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260 | (3) |
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263 | (1) |
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7.6 Self-check of Knowledge and Exercises |
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264 | (7) |
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269 | (2) |
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8 Markets: Organisation, Trading and Efficiency |
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271 | (22) |
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8.1 Organisation of the Electricity Sector |
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272 | (1) |
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8.2 Basics of Electricity Trading |
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272 | (4) |
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8.3 Key Market Design Choices |
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276 | (2) |
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8.4 Balancing Groups: Coordination Between Electricity Trading and Grid Operation |
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278 | (3) |
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8.5 Information Efficiency: Links Between Spot and Future Markets |
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281 | (4) |
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281 | (1) |
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8.5.2 Link Between Spot and Futures Markets |
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282 | (1) |
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8.5.3 Efficient Market Hypothesis and Link Between Spot and Future Prices |
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283 | (1) |
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8.5.4 Implications of Storability |
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284 | (1) |
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8.5.5 Implications of Limited Storability |
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285 | (1) |
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8.6 Future and Option Payoffs and Hedging of Physical Positions |
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285 | (4) |
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289 | (1) |
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8.8 Self-check of Knowledge and Exercises |
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289 | (4) |
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291 | (2) |
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9 Imperfect Competition and Market Power |
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293 | (22) |
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9.1 Indicators and Analyses of Market Power |
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294 | (2) |
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9.1.1 Indicators and Analyses of Market Structure |
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294 | (1) |
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9.1.2 Indicators and Analyses of Market Conduct |
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295 | (1) |
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9.1.3 Indicators and Analyses of Market Results |
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295 | (1) |
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9.2 Simple Models of Imperfect Competition in Wholesale Markets |
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296 | (3) |
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9.3 Applications of Models of Imperfect Competition to Power Systems |
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299 | (2) |
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9.4 Imperfect Competition in Retail Markets: Modelling Customer Switching Behaviour |
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301 | (5) |
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9.4.1 Basic Model with One Retail Market Segment |
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302 | (3) |
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9.4.2 Extension to Several Retail Segments |
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305 | (1) |
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9.5 Workable Competition and Market Monitoring |
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306 | (2) |
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308 | (1) |
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9.7 Self-check of Knowledge and Exercises |
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309 | (6) |
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312 | (3) |
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10 Electricity Markets in Europe |
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315 | (42) |
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316 | (4) |
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316 | (1) |
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317 | (1) |
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10.1.3 Cross-Border Trading |
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318 | (2) |
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320 | (2) |
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10.3 Management of Reserves |
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322 | (4) |
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10.4 Provision of Other System Services |
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326 | (2) |
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328 | (4) |
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10.6 Congestion Management in Electricity Markets |
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332 | (5) |
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10.6.1 Capacity Allocation Methods |
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333 | (2) |
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10.6.2 Congestion Alleviation and Redispatch |
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335 | (2) |
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337 | (10) |
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10.7.1 Retail Contract Types |
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338 | (1) |
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10.7.2 Competition on Retail Markets and Retail Prices |
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339 | (2) |
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341 | (1) |
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10.7.4 Self-supply, Grid Parity and Level of Autonomy |
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342 | (5) |
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10.8 Markets in Europe Versus North America |
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347 | (3) |
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350 | (1) |
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10.10 Self-check of Knowledge and Exercises |
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350 | (7) |
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352 | (5) |
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11 Valuing Flexibilities in Power Systems as Optionalities |
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357 | (30) |
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11.1 Prices as Stochastic Processes |
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358 | (6) |
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11.2 Hourly Price Forward Curves to Link Future and Spot Prices |
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364 | (3) |
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11.3 Valuing Simple Options on a Stochastic Spot Price |
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367 | (3) |
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11.4 Analytical Approaches for Option Valuation: The Black-Scholes Model |
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370 | (5) |
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11.5 Merits and Limits of the Black-Scholes Model for Electricity Market Analyses |
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375 | (1) |
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11.6 Thermal and Hydropower Plants as Real Options |
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376 | (1) |
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11.7 Application: HPFC and Parsimonious Real Option Valuation for Thermal Power Plants |
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377 | (4) |
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11.8 Challenge: From Asset to System Perspective |
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381 | (1) |
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382 | (1) |
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11.10 Self-check of Knowledge and Exercises |
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382 | (5) |
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385 | (2) |
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12 Moving Towards Sustainable Electricity Systems |
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387 | (30) |
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12.1 Challenges in Decarbonisation |
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389 | (4) |
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12.2 Challenges in Balancing Supply and Demand |
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393 | (7) |
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12.2.1 Balancing Energy Production and Demand |
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394 | (4) |
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12.2.2 Balancing Short-Term Fluctuations |
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398 | (2) |
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12.3 Challenges for Grid Operation and Development |
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400 | (9) |
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12.3.1 Grid Extension and Reinforcement Needs |
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401 | (3) |
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12.3.2 Congestion Management and Market Design |
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404 | (3) |
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12.3.3 Voltage Control and Reactive Power Management |
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407 | (2) |
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12.4 Challenges in Prosumer Integration and Network Tariffication |
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409 | (2) |
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12.5 Prospects for Sustainable Energy Systems |
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411 | (2) |
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413 | (1) |
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12.7 Self-check of Knowledge |
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413 | (4) |
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414 | (3) |
Index |
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417 | |