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Informationen zum Autor Barrie Murray is the author of Electricity Markets: Investment, Performance and Analysis, published by Wiley. Klappentext The impact of deregulation on the theory and practice of investment appraisal is addressed in this comprehensive treatment of the restructuring of the electricity supply industry. Demonstrating that the classical approach to generation investment appraisal is no longer valid, a new approach is developed using three economic models to represent differing market conditions. Highlighting the impact on the organisation of the utilities and their suppliers, Electricity Markets offers essential advice for survival in the deregulated environment worldwide. Features include: Examination of the alternative market structures and their mechanisms Methods for investment appraisal and market simulation to support the assessment of market strategies by generators, distributors and suppliers Use of game theory to predict market behaviour and competitive interaction Coverage of the analytical and technical aspects of grid deregulation plus a look ahead to the long term productivity and structure of the industry Discussion of the regulatory framework and its limitations in improving efficiency and encouraging optimum levels of investment This timely book will enlighten a broad audience ranging from utility managers and suppliers involved in deregulation to consultants and academics concerned with managing change. Zusammenfassung Covering analytical and technical aspects of grid deregulation! this text looks at the impact of deregulation on investment appraisal. Based on the author's direct experience with the National Grid Company! it should interest worldwide utilities planning to follow the UK's initiatives. Inhaltsverzeichnis Preface xv Symbols xvii Part One A Review Of Market Structures And Mechanisms 1 Chapter 1 Introduction 3 Objectives 3 International Perspectives 4 Commercial Arrangements 7 Implications 8 The Analysis 9 Chapter 2 Alternative Market Structures 11 The Gross Pool 11 Bilateral Trading - The Net Pool 13 The Single Buyer 14 Zonal Pools 15 Mixed Generation 16 State Utility 16 Transmission Issues 17 Supply Issues 18 Stranded Assets 18 Market Comparisons 19 Chapter 3 Market Mechanisms 21 Price Setting 21 Securing Availability 22 Accommodating Transmission Constraints 23 Enabling Demand Side Participation 24 Capturing Data for Settlement 25 Calculating Payments 25 Unit Commitment 29 Conclusion 30 Chapter 4 Markets in Operation 33 Reliability 33 Competition 35 Price Trends 38 SMP V Demand 39 Investment 40 Efficiency in Operation 43 Conclusions 44 Chapter 5 Market Modelling 47 Solution Process 47 Production Modelling 51 Conclusions 55 Chapter 6 SMP Theory and Optimal Plant Mix 57 SMP Derivation 57 Derivation of Optimal Plant Mix 58 SMP Estimation 61 Conclusions 62 Chapter 7 LOLP Theory and Optimal Margin 65 Theory 65 Lolp V Margin 66 Comparison of Theory With Model And Actual 68 Lolp and Pooling 68 Optimum Investment Level 70 Conclusion 71 Chapter 8 Idealised Tariffs 73 Basic Principle 73 Ideal Price Derivation 74 Actual SMP Prices 75 Lolp and Capacity Charge 76 BST 78 Comparison of Actual PSP With BST 79 The Open Supply Market 80 Conclusions 81 Chapter 9 Review of Market Shortcomings 83 Marginal Pricing 83 Plant Mix 84 Plant Margins 85 Transmission Management 86 Consumers 86 Security of Supply 87...
