In a deregulated market, independent system operators meet power balance based on supply and demand bids to maximize social welfare. Since electricity markets are typically oligopolies, players with market power may withhold capacity to maximize profit. Such exercise of market power can lead to...

Demand response (DR) can be very useful for an industrial facility, since it allows noticeable reductions in the electricity bill due to the significant value of energy demand. Although most industrial processes have stringent constraints in terms of hourly active power, DR only becomes...

The power output capacity of a local electrical utility is dictated by its customers’ cumulative peak-demand electrical consumption. Most electrical utilities in the United States maintain peak-power generation capacity by charging for end-use peak electrical demand; thirty to seventy percent...

Increasing concerns about global environmental issues have led to the urgent development of green transportation. The enthusiasm of governments should encourage the prosperity of the plug-in hybrid electric vehicles/electric vehicles (PHEVs/EVs) industry in the near future. PHEVs/EVs are not...

To reduce the influence of wind power output uncertainty on power system stability, demand response (DRPs) and energy storage systems (ESSs) are introduced while solving scheduling optimization problems. To simulate wind power scenarios, this paper uses Latin Hypercube Sampling (LHS) to generate...

The book provides assessments and evaluations of emerging trends in the electricity markets, with a focus on high-renewables electricity systems. Specifically, various issues are examined, such as wind and solar energy, interconnection, smart meters, smart grids of the future (including their...

Towards low-carbon energy systems, there are countries with ongoing plans for expanding their nuclear power capacity, and simultaneously advancing the role of variable renewable energy sources (RES), namely wind and solar energy. This crossroads of capital-intensive, baseload power production...