Operation and Management of Power System in Electricity Market

This monograph provides an in-depth knowledge and understanding of power systems' operation and management under the competitive electricity market. Electricity sector restructuring is taking place world-wide in most of the countries for various technical and non-technical reasons. Starting with the fundamentals of power systems deregulation, the text overviews the status of the restructuring of electricity sectors in different countries of the world, discusses the models adopted to create the competitive electricity markets and addresses several technical challenges faced in the operation and management of the power system.