Optimization Principles: Practical Applications to the Operation and Markets of the Electric Power Industry

Today's need-to-know optimization techniques, at yourfingertips

The use of optimization methods is familiar territory toacademicians and researchers. Yet, in today's world of deregulatedelectricity markets, it's just as important for electric powerprofessionals to have a solid grasp of these increasingly reliedupon techniques.

Making those techniques readily accessible is the hallmark ofOptimization Principles: Practical Applications to the Operationand Markets of the Electric Power Industry.

With deregulation, market rules and economic principles dictatethat commodities be priced at the marginal value of theirproduction. As a result, it's necessary to work withever-more-sophisticated algorithms using optimizationtechniques-either for the optimal dispatch of the system itself, orfor pricing commodities and the settlement of markets. Succeedingin this new environment takes a good understanding of methods thatinvolve linear and nonlinear optimization, including optimal powerflow, locational marginal prices for energy, and the auction ofhedging instruments.

In its comprehensive, skill-building overview of optimizationtechniques, Optimization Principles puts you on the same footingwith algorithm-savvy software developers. Starting with a helpfullook at matrix algebra fundamentals, this just-in-time referencecovers:
* Deregulated electricity markets: terminology and acronyms
* Solution of equations, inequalities, and linear programs
* Unconstrained and constrained nonlinear optimization
* Applications to practical problems addressing system dispatch, market design, and material procurement
* And related topics


As an aid to the uninitiated, appendices provide a briefdescription of basic principles of electricity, and the developmentof network equations.

Optimization Principles allows you to learn optimization methods atyour own pace using Microsoft Excel or MATLAB software, and itincludes an FTP web site with downloadable Excel spreadsheets andproblems. After mastering these practical applications, you canthen refer to chapters that highlight the theoretical background ofthe algorithms and resulting solutions. The book also includes aWeb site with downloadable files of all example problems and solvedproblems.

Ideal for engineers, other electric power professionals, andadvanced engineering students, Optimization Principles demystifiesthe electric power industry under deregulation-and delivers acomplete, learn-as-you-go tutorial of optimization techniques thatno other resource can match.