Product Description
The first systematic presentation of electricity market design—from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues—such as why todays markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and engineering policies cause boom-bust investment swings and provides guidance and tools for fixing broken markets. It also takes … More >>
Power System Economics: Designing Markets for Electricity
Tags: boom, breadth, bust, cutting edge, electricity market design, electricity product, swings, system economics, systematic presentation, todays markets
#1 by Anonymous on June 29, 2010 - 11:54 am
… or those wishing to see what economists really have to offer regarding power systems. Stoft’s technical discussion of power markets, or locational pricing, mechanisms is just fine. But he offers nothing about the economics of electricity transmission, without which spatially diverse power markets are merely a theory. As such, his book is of no particular use to those looking to understand the economic issues that bedevil large power markets, like those in the US, where persistent transmission constraints can impair the functioning of the best “market architecture.”
“Economics” is a loosely-used term in electricity market circles. Those wishing to understand the economic princiles behind power markets, as opposed to the mechanics of power systems, will have to look elsewhere.
Rating: 1 / 5
#2 by Ning Jiang on June 29, 2010 - 2:01 pm
cons: It covers a lot of entry level material regarding power system and economics. If you know both power system engineering and economics, it won’t be a help since it is too elementary. If you don’t know power system or economics, don’t expect you can build up a solid background by reading this book.
pros: it is good review of EE101 and ECO101.
Alert: this book really didn’t tell you anything about designing a electricity market: the fundmental incentive compatibility is not covered at all!
IT IS JUST A REVIEW BOOK, NOT A GUIDE BOOK YOU CAN DEPENDEND ON FOR MARKET DESIGN ADN ANALYSIS.
Rating: 2 / 5
#3 by Haowei Liu on June 29, 2010 - 2:16 pm
This book really disappointed me. It does not provide in-depth explanation s on concepts nor good examples.
Rating: 2 / 5
#4 by Sabine Schnittger on June 29, 2010 - 2:16 pm
This book is about good economics. It is not about the usual collection of market anecdotes, nor is it about engineering power systems. Power System Economics reviews all the key design elements of modern electricity wholesale markets, and puts them in their economic context. You will not find another book on the subject that is as comprehensive and well-researched.
Rating: 5 / 5
#5 by Anonymous on June 29, 2010 - 3:27 pm
Stoft has provided an excellent introduction to the new world of electric power, providing a helpful guide that speaks to the engineering and the economics.
Rating: 4 / 5