The introduction of competition into the electricity supply industry has fundamentally changed the way it works. In the light of these changesthis book provides a clear and comprehensive explanation of the basic principles underpinning the design and opeartion of modern competitive electricity markets.
Assuming no prior knowledge of economics, Fundamentals of Power System Economics discusses the organization of markets for electrical energy as well as the operational and investment decisions that companies participating in these markets must make.
This is a book written by the engineers, primarily for engineers, and has been designed in a textbook style with a problem and asnswer section at the end of each chapters to aid learning. The accessible tutorial style makes this book essential reading for both postgraduate and undergraduate students, professors and practicing engineers alike.