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Power System Economics
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 today's 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 a provocative look at the operation of pools and power exchanges. * Part 1 introduces key economic, engineering and market design concepts. * Part 2 links short-run reliability policies with long-run investment problems. * Part 3 exa...
Global Carbon Pricing
Why the traditional “pledge and review” climate agreements have failed, and how carbon pricing, based on trust and reciprocity, could succeed. After twenty-five years of failure, climate negotiations continue to use a “pledge and review” approach: countries pledge (almost anything), subject to (unenforced) review. This approach ignores everything we know about human cooperation. In this book, leading economists describe an alternate model for climate agreements, drawing on the work of the late Nobel laureate Elinor Ostrom and others. They show that a “common commitment” scheme is more effective than an “individual commitment” scheme; the latter depends on altruism while the f...
Transmission Expansion for Renewable Energy Scale-Up
In their efforts to increase the share of renewable in electricity grids to reducing emissions or increasing energy diversity, developed and developing countries are finding that a considerable scale-up of investments in transmission infrastructures will be necessary to achieve their goals. Renewable energy resources such as wind, solar, and hydro power, tend to be sited far from existing electricity grids and consumption centers. Achieving desired supply levels from these sources requires that networks be expanded to reach many sites and to ensuring the different supply variation patterns of renewable are combined with existing sources in the grid to ensure the constantly varying demand for...
Ripped Apart
We’re right to be worried. Trump is favored to in in 2020 after four years of struggle. But... ● Some Democrats are helping Trump fire up his base ● Some insinuate that fellow Democrats are corrupt Who’s doing this? Despite making 117 endorsements in 2018, the three “revolutionary” PACs flipped zero House seats blue. They’re dedicated. But it was those of us focusing on winning, not purity, who flipped 43 seats and took back the House. The same radicals are galvanizing Trump’s base by calling themselves “socialists” and taking extreme positions. This just fuels Trump’s war room. Why don’t we stop them? The answer is disturbing yet empowering. We’ve been deceived by radical mythology. By dispelling those myths, from crime-bill slanders to excessive ‘wokeness,’ this book will leave you saying, “I knew that sounded wrong. Now I know why.” This will keep you from being deceived and show the way back to a unified Party. It’s not easy. But failing that, we will hand Trump the fractured party he can beat in November.
Spot Pricing of Electricity
There is a need for fundamental changes in the ways society views electric energy. Electric energy must be treated as a commodity which can be bought, sold, and traded, taking into account its time-and space-varying values and costs. This book presents a complete framework for the establishment of such an energy marketplace. The framework is based on the use of spot prices. In general terms: o An hourly spot price (in dollars per kilowatt hour) reflects the operating and capital costs of generating, transmitting and distributing electric energy. It varies each hour and from place to place. o The spot price based energy marketplace involves a variety of utility-customer transactions (ranging ...
Power Generation, Operation, and Control
A comprehensive text on the operation and control of power generation and transmission systems In the ten years since Allen J. Wood and Bruce F. Wollenberg presented their comprehensive introduction to the engineering and economic factors involved in operating and controlling power generation systems in electric utilities, the electric power industry has undergone unprecedented change. Deregulation, open access to transmission systems, and the birth of independent power producers have altered the structure of the industry, while technological advances have created a host of new opportunities and challenges. In Power Generation, Operation, and Control, Second Edition, Wood and Wollenberg brin...
The Economics of Electricity Markets
Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concern...
Competitive Electricity Markets and Sustainability
Talks about the opening up of electricity markets to competition, which changed the nature of power generation. This book explores whether or not market forces offer a sustainable future for electricity generation. Focusing on the EU and US liberalised electricity markets, it offers an assessment of the long-term consequences of liberalisation.
The Subprime Solution
A best-selling economist reveals the origins of the subprime mortgage crisis and puts forward bold measures to resolve it by restructuring the institutional foundations of the financial system in a thoughtful study by the author of Irrational Exuberance. First serial, The Atlantic.
