Covers the latest practices, challenges and theoretical advancements in the domain of balancing economic efficiency and operation risk mitigation This book examines both system operation and market operation perspectives, focusing on the interaction between the two. It incorporates up-to-date field experiences, presents challenges, and summarizes the latest theoretic advancements to address those challenges. The book is divided into four parts. The first part deals with the fundamentals of integrated system and market operations, including market power mitigation, market efficiency evaluation, and the implications of operation practices in energy markets. The second part discusses developing technologies to strengthen the use of the grid in energy markets. System volatility and economic impact introduced by the intermittency of wind and solar generation are also addressed. The third part focuses on stochastic applications, exploring new approaches of handling uncertainty in Security Constrained Unit Commitment (SCUC) as well as the reserves needed for power system operation. The fourth part provides ongoing efforts of utilizing transmission facilities to improve market efficiency, via transmission topology control, transmission switching, transmission outage scheduling, and advanced transmission technologies. Besides the state-of-the-art review and discussion on the domain of balancing economic efficiency and operation risk mitigation, this book: * Describes a new approach for mass market demand response management, and introduces new criteria to improve system performance with large scale variable generation additions * Reviews mathematic models and solution methods of SCUC to help address challenges posed by increased operational uncertainties with high-penetration of renewable resources * Presents a planning framework to account for the value of operational flexibility in transmission planning and to provide market mechanism for risk sharing Power Grid Operations in a Market Environment: Economic Efficiency and Risk Mitigation is a timely reference for power engineers and researchers, electricity market traders and analysts, and market designers. Hong Chen, PhD, is a Senior Consultant at PJM Interconnection in Pennsylvania, USA, and was a Principal Analyst in electricity market design and development at ISO New England, USA. Dr. Chen received her PhD in electrical and computer engineering, ME in power systems, and BE in power systems. She has more than 20 years of experience within the power industry and has been active author, editor and committee leader in IEEE activities. Dr. Chen is the current chair of Power System Operation, Planning and Economics committee in the Power and Energy Society of IEEE.
This book investigates how a North African solar thermal power plant can be set up under the guidance of European investors (e.g. the Desertec Concept) as a Public Private Partnership (PPP). It outlines the importance of early awareness of contract-related risks, investment risks and dispute settlement, arguing that commercial and investment arbitration are the best tools for settling disputes regarding a large-scale solar thermal project. Furthermore, by comparing institutional and ad hoc arbitration, it shows that the former offers highly suitable support. The latest developments in the area of investment arbitration under EU law and the general acceptance of arbitration in Islamic countries are examined in particular. This book also demonstrates that a solar thermal power plant must meet certain requirements to be considered an investment. These requirements are examined in relation to Art. 25 of the International Centre for Settlement of Investment Disputes Convention (ICSID Convention) and respective case law. Overall, the book offers valuable guidelines for investors and host states on how to successfully implement large-scale solar thermal projects.
Unlike more technical texts stuffed with formulae and theories, this book explains in plain English how power is created and replaces formulae with everyday examples and easy-to-understand illustrations.
Mainstream cosmology regards the universe, the galaxies, and the solar system exclusively organized by gravitational force that is known to be the weakest universal force. The next higher-order force in the universe is the electric force that is 39 orders of magnitude stronger than the gravitational force. However, it is not allowed to be recognized as an organizing force in the universe, because this force is expressed in electrically charged plasma that is deemed not to exist in mainstream cosmology, which thereby imprisons itself with cosmo-mythologies where nothing is actually true. While technology has furnished astronomy with amazing capacities for looking at the universe, ironically, what is observed is being falsely interpreted on the basis of assumptions that are simply not true, that are mythological assumptions. As a consequence, ironically, mainstream astronomy looks at the universe blindfolded. What comes out of it, of course, are tragic misperceptions. The results are often so confusing that mysterious fudge factors need to be invented to make the results appear plausible. No such fudge factors are needed in plasma cosmology. With the next Ice Age on the near horizon, potentially beginning in the 2050s, we cannot afford to play games with fudge factors. The recognition of the true nature of the universe, the galactic system, and the solar system, that together drives the Ice Age dynamics, becomes an existentially critical issue. If humanity remains 'asleep' on this front, we may all die in the easy chair of the consequence when the glaciation conditions resume, which evidence promises, will happen quickly.
The Power of Law in a Transnational World raises