Deregulation is causing dramatic change in the power industry but little is known about how power systems will function under competition. What are suitable performance objectives? What control designs are required and what economic techniques should be used? This detailed analysis attempts to answer these questions. The authors provide a modelling, analysis and systems control framework that makes it possible to relate distinctive features of the electric power industry to more conventional supply/demand processes in other industries. Some parts of the system can be distributed while other parts must remain co-ordinated. This authoritative and detailed study is highly topical and will be of interest to those working in the systems control area, especially in electrical power. It is also most relevant for industrial economists as well as academics in electrical power engineering.

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1 Introduction: Basic Assumptions and Concepts.- 1.1 Importance of the envisioned control structures in a changing industry.- 1.2 System regulation issues affected by the vertical separation of the transmission grid from generation.- 1.3 Organization of this text.- 2 The Nested Hierarchy as a System Structure in a Changing Industry.- 2.1 Principles of existing horizontally structured electric power systems.- 2.2 Industry changes leading to the nested hierarchy structure.- 2.3 Examples of new industry arrangements as particular cases of the nested hierarchy structure.- 2.4 The need for new control structures.- 2.5 Can generation-based regulation be made price-competitive?.- 2.6 Relevance of dynamic problem formulation over mid- and long-term horizons.- 3 Performance Criteria Relevant to Operating Interconnected Electric Power Systems.- 3.1 Dynamics of system inputs to which the control responds.- 3.2 Time frames for present performance objectives.- 3.3 Modeling for systems control services in a changing industry.- 3.4 Performance criteria at the subsystem level.- 3.5 Static optimization in an open access system.- 3.6 Static optimization of a horizontally structured system.- 3.7 Present criteria for mid- and long-term dynamic performance.- 3.8 Static performance criteria for reactive power/voltage support.- 3.9 Summary.- 4 Structural Modeling and Control Design Using Interaction Variables.- 4.1 Structural modeling.- 4.2 Hierarchical control design.- 4.3 Tertiary level coordination.- 4.4 New tertiary-level aggregate model.- 4.5 Comparison of the proposed control structures to those used at present.- 4.6 Summary.- 5 Generation-Based Regulation of Real Power/Frequency.- 5.1 State of the art and potential problems of frequency regulation.- 5.2 New modeling.- 5.3 Analysis.- 5.4 Model derivations.- 5.5 Control design.- 5.6 Summary.- 6 Generation-Based Regulation of Reactive Power/Voltage.- 6.1 Modeling.- 6.2 Quasi-static voltage model.- 6.3 Quasi-static interaction variables.- 6.4 Voltage regulation.- 6.5 Regional voltage control.- 6.6 Tertiary coordination.- 6.7 New tertiary level-aggregate models.- 6.8 Summary.- 7 The Value of Generation-Based Regulation: Competition Versus Coordination.- 7.1 Relevant optimality questions for determining the value of control services.- 7.2 Control-dependent values of subsystems in a competitive environment.- 7.3 Systems control structure-related issues.- 7.4 Long-term stability of decentralized systems control services.- 7.5 Achievable optimality as a function of the level of control co-ordination.- 7.6 Limitations of existing systems control in a competitive environment.- 7.7 Proposed approach to real-time systems control and its pricing in a competitive market.- 7.8 Summary.- 8 Network-Based System Regulation.- 8.1 Engineering issues and opportunities in operating power transmission grids of the future.- 8.2 Recent changes affecting the transmission grid and their relation to the basic engineering issues.- 8.3 A brief review of the present principles for regulating a transmission grid and the power system.- 8.4 The basic planning problem on a transmission grid.- 8.5 Operating problems using mechanically switched reactive devices.- 8.6 Opportunities and problems presented by very fast regulation of the transmission grid: FACTS trends.- 8.7 Direct flow control via FACTS devices.- 8.8 Summary.- 9 Conclusions.- 9.1 Summary of our approach to linking technical and economic processes under competition.- 9.2 Relevance of our proposed modeling and control framework.- 9.3 A Final Word.