The overall goal of this book is to introduce algorithms for improving the economic posture of a utility company in a restructured power system by promoting cost-effective maintenance schedules. This book's topic is very timely as the electric utility industry is undergoing a major restructuring, and what used to be vertically integrated is now being unbundled. The restructuring has given rise to a number of separate business entities with their own objectives. In this breakup, the issue of maintenance scheduling has been missed completely since none of these entities currently have explicit accountability for this subject. The authors offer a logical alternative to traditional electric utility maintenance practices and a basis for making maintenance decisions. Maintenance scheduling problems are formulated as decomposed problems. This signifies the nature of restructured power systems with self-interested entities and optimizes potential revenues while meeting constraints such as fuel schedules, emission constraints, hourly load demands, and network limits. Coordination of short- and long-term maintenance scheduling is also presented. The book shows by numerous derivations and examples that careful planning and good coordination among self-interested entities in restructured power systems are essential to achieving an optimal trade-off between the cost of maintenance and service reliability. Maintenance Scheduling in Restructured Power Systems includes a variety of models, solutions and ideas that will be invaluable to engineers, consultants, manufacturers, students, and others working and studying in the utility field.

The overall goal of this book is to introduce algorithms for improving the economic posture of a utility company in a restructured power system by promoting cost-effective maintenance schedules. This book's topic is very timely as the electric utility industry is undergoing a major restructuring, and what used to be vertically integrated is now being unbundled. The restructuring has given rise to a number of separate business entities with their own objectives. In this breakup, the issue of maintenance scheduling has been missed completely since none of these entities currently have explicit accountability for this subject. The authors offer a logical alternative to traditional electric utility maintenance practices and a basis for making maintenance decisions. Maintenance scheduling problems are formulated as decomposed problems. This signifies the nature of restructured power systems with self-interested entities and optimizes potential revenues while meeting constraints such as fuel schedules, emission constraints, hourly load demands, and network limits. Coordination of short- and long-term maintenance scheduling is also presented. The book shows by numerous derivations and examples that careful planning and good coordination among self-interested entities in restructured power systems are essential to achieving an optimal trade-off between the cost of maintenance and service reliability. Maintenance Scheduling in Restructured Power Systems includes a variety of models, solutions and ideas that will be invaluable to engineers, consultants, manufacturers, students, and others working and studying in the utility field.

An essential overview of post-deregulation market operations in electrical power systems

Until recently the U.S. electricity industry was dominated by vertically integrated utilities. It is now evolving into a distributive and competitive market driven by market forces and increased competition. With electricity amounting to a $200 billion per year market in the United States, the implications of this restructuring will naturally affect the rest of the world.

Why is restructuring necessary? What are the components of restructuring? How is the new structure different from the old monopoly? How are the participants strategizing their options to maximize their revenues? What are the market risks and how are they evaluated? How are interchange transactions analyzed and approved? Starting with a background sketch of the industry, this hands-on reference provides insights into the new trends in power systems operation and control, and highlights advanced issues in the field.

Written for both technical and nontechnical professionals involved in power engineering, finance, and marketing, this must-have resource discusses:

• Market structure and operation of electric power systems
• Load and price forecasting and arbitrage
• Price-based unit commitment and security constrained unit commitment
• Market power analysis and game theory applications
• Ancillary services auction market design
• Transmission pricing and congestion

Using real-world case studies, this timely survey offers engineers, consultants, researchers, financial managers, university professors and students, and other professionals in the industry a comprehensive review of electricity restructuring and how its radical effects will shape the market.