| Preface |
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xv | |
| Acknowledgments |
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xvii | |
| 1 Introduction |
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1 | (4) |
| 2 Economic operation in power systems |
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5 | (8) |
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2.1 Introduction of power system operation |
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5 | (3) |
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2.2 Development of economic operation |
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8 | (4) |
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2.3 Incentives of economic operation |
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12 | (1) |
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12 | (1) |
| 3 Power generation costs |
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13 | (24) |
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13 | (3) |
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3.2 Costs for power generations |
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16 | (10) |
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3.2.1 Coal-fired steam power plants |
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16 | (6) |
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3.2.2 Gas-fired power plants |
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22 | (2) |
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3.2.3 Hydro power stations |
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24 | (1) |
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3.2.4 Nuclear power stations |
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25 | (1) |
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3.2.5 Wind power and solar energy |
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25 | (1) |
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26 | (9) |
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3.3.1 Conventional generation planning |
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26 | (2) |
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28 | (3) |
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3.3.3 Load duration curve |
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31 | (4) |
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3.3.4 Generation planning and generation scheduling |
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35 | (1) |
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35 | (2) |
| 4 Economic dispatch |
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37 | (20) |
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37 | (1) |
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4.2 The problem of economic dispatch |
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38 | (11) |
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4.3 Economic dispatch problem considering losses |
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49 | (3) |
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4.4 Economic dispatch with piecewise linear cost functions |
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52 | (3) |
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55 | (2) |
| 5 Optimal power flow |
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57 | (26) |
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57 | (2) |
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5.2 Power flow formulations |
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59 | (4) |
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5.2.1 Bus admittance matrix |
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59 | (1) |
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5.2.2 Power flow equations |
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60 | (3) |
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5.3 Optimal power flow modeling |
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63 | (4) |
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5.3.1 Mathematical model of optimal power flow |
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63 | (2) |
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5.3.2 Solution algorithms for optimal power flow |
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65 | (2) |
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5.4 DC optimal power flow |
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67 | (1) |
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5.5 Security-constrained optimal power flow |
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68 | (4) |
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72 | (5) |
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72 | (1) |
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5.6.2 Example for AC optimal power flow |
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73 | (1) |
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5.6.3 Example for DC optimal power flow |
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74 | (1) |
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5.6.4 Example for security-constrained optimal power flow |
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75 | (2) |
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5.7 Modified optimal power flow models for power system operations |
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77 | (4) |
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5.7.1 Minimize generation cost |
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78 | (1) |
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5.7.2 Minimize losses/total generation |
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78 | (1) |
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5.7.3 Minimize generation adjustment |
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78 | (1) |
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5.7.4 Minimize load shedding |
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79 | (1) |
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5.7.5 Optimization of reactive power |
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79 | (2) |
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5.8 Optimal power flow and unit commitment |
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81 | (1) |
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81 | (2) |
| 6 Unit commitment |
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83 | (18) |
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83 | (1) |
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6.2 Illustrative example of unit commitment |
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84 | (7) |
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6.3 Mathematical model of unit commitment problem |
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91 | (8) |
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6.3.1 Variables of unit commitment problem |
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92 | (1) |
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6.3.1.1 Control variables |
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92 | (1) |
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92 | (1) |
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92 | (1) |
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93 | (3) |
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6.3.3.1 Generator output limits |
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93 | (1) |
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6.3.3.2 Generation unit ramping constraints |
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94 | (1) |
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6.3.3.3 Generation unit operation time constraints |
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95 | (1) |
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6.3.3.4 Other unit constraints |
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95 | (1) |
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96 | (7) |
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6.3.4.1 Power balance constraints |
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96 | (1) |
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6.3.4.2 Network constraints |
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97 | (1) |
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6.3.4.3 System reserve constraints |
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98 | (1) |
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6.4 Solution algorithms for unit commitment problem |
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99 | (1) |
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100 | (1) |
| 7 Electricity market overview |
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101 | (26) |
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7.1 Traditional power industry |
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101 | (2) |
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7.2 Deregulation of power industry |
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103 | (4) |
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7.2.1 Unbundling of integrated power systems |
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103 | (3) |
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7.2.2 Restructured power system for market operation |
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106 | (1) |
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7.3 Power deregulation in different countries |
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107 | (7) |
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108 | (1) |
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7.3.2 Australia and New Zealand |
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109 | (1) |
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110 | (1) |
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111 | (2) |
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113 | (1) |
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113 | (1) |
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7.4 Electricity retail markets |
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114 | (2) |
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7.5 Overview of electricity market operation |
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116 | (9) |
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116 | (2) |
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116 | (1) |
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7.5.1.2 Ancillary service market |
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117 | (1) |
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7.5.1.3 Electricity financial market |
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117 | (1) |
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7.5.2 Market participants |
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118 | (1) |
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7.5.3 Market operations and its timeline |
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119 | (2) |
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7.5.4 Spot market pricing mechanisms |
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121 | (2) |
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7.5.5 Congestion management |
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123 | (1) |
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7.5.6 Transmission services |
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124 | (1) |
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125 | (1) |
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125 | (2) |
| 8 Electricity market pricing models |
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127 | (58) |
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127 | (1) |
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8.2 Nodal price-based market model |
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128 | (8) |
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8.2.1 Marginal price introduction |
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128 | (1) |
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8.2.2 Optimal power flow-based market model |
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129 | (3) |
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8.2.2.1 Objective functions |
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129 | (2) |
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131 | (1) |
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8.2.3 Security-constrained optimal power flow-based market model |
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132 | (3) |
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8.2.3.1 Objective functions |
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133 | (1) |
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133 | (2) |
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8.2.4 Bilateral contract formulation in the market model |
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135 | (1) |
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8.3 Locational marginal price |
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136 | (13) |
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8.3.1 Formulation of locational marginal price |
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137 | (10) |
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8.3.2 Derivation of locational marginal price for a security-constrained market model |
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147 | (2) |
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8.4 Examples for locational marginal price calculation and market clearing |
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149 | (18) |
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8.4.1 An example of locational marginal price calculation without loss or congestion |
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149 | (1) |
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149 | (1) |
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8.4.2 Examples of locational marginal price calculation with network effects |
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150 | (9) |
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8.4.2.1 Examples: Without loss or congestion |
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150 | (5) |
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8.4.2.2 Examples: With congestions |
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155 | (4) |
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8.4.3 Locational marginal price calculation for a system |
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159 | (8) |
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161 | (1) |
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161 | (1) |
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162 | (2) |
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164 | (3) |
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167 | (8) |
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8.5.1 Bilateral contracts in a spot market |
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167 | (1) |
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8.5.2 Bilateral contract settlement |
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168 | (1) |
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8.5.3 Examples for bilateral contract settlement |
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169 | (5) |
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8.5.3.1 Example I: Double payment of bilateral contract |
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169 | (2) |
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8.5.3.2 Example II: Internal settlement for double payment offsetting |
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171 | (2) |
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8.5.3.3 Example III: External settlement for double payment offsetting |
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173 | (1) |
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8.5.4 Contract that is not resource specific |
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174 | (1) |
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8.6 Uniform zonal price-based market model |
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175 | (8) |
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8.6.1 Uniform market price |
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176 | (2) |
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8.6.2 Zonal uniform market price |
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178 | (3) |
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8.6.2.1 Potential price zones |
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178 | (1) |
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8.6.2.2 Zonal price clearing |
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179 | (2) |
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8.6.3 Zonal price market operation issues |
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181 | (2) |
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8.7 Nodal pricing versus zonal pricing |
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183 | (1) |
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184 | (1) |
| 9 Congestion management and transmission tariff |
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185 | (10) |
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185 | (1) |
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9.2 Congestion management |
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186 | (1) |
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9.2.1 Transmission congestion |
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186 | (1) |
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9.2.2 Congestion management and congestion charge |
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186 | (1) |
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187 | (2) |
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189 | (2) |
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191 | (2) |
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193 | (2) |
| 10 Ancillary service markets |
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195 | (18) |
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195 | (2) |
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10.2 Classifications of ancillary services |
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197 | (2) |
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10.3 Frequency regulation services |
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199 | (6) |
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10.3.1 Electricity balancing market |
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200 | (2) |
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10.3.2 Regulation service market |
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202 | (1) |
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10.3.3 Performance-based regulation service market |
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203 | (2) |
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10.4 Reserve service market |
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205 | (1) |
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10.5 Reactive power as an ancillary service |
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206 | (6) |
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10.5.1 Costs for providing reactive power |
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207 | (2) |
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10.5.2 Reactive power market model |
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209 | (3) |
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212 | (1) |
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212 | (1) |
| 11 Electricity financial market and its risk management |
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213 | (6) |
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11.1 Risks in the electricity market |
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213 | (1) |
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11.2 Risk management in the electricity market |
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214 | (2) |
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11.3 Electricity derivatives |
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216 | (1) |
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217 | (2) |
| 12 Low carbon power system operation |
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219 | (14) |
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219 | (1) |
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12.2 Emission dispatch model |
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220 | (3) |
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12.3 Emission reduction policies for power sectors |
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223 | (4) |
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12.3.1 Introduction of policies applied in power generations |
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223 | (1) |
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12.3.2 Clean Air Act of the United States |
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223 | (2) |
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12.3.3 European Emission Trading Scheme |
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225 | (1) |
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12.3.4 Renewable energy certificate scheme |
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226 | (1) |
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226 | (1) |
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12.4 Impacts of CO2 prices on power system dispatch |
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227 | (1) |
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12.5 Impacts of emission trading on generation scheduling and electricity prices |
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228 | (1) |
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12.6 Discussions on low carbon market mechanisms |
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229 | (3) |
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232 | (1) |
| Index |
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233 | |