Power Systems Operation and Economics

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• Elements of control of power systems
• Advanced concepts of operation of electrical power systems
• Economic and management aspect

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Appreciation of the complexity of power systems
• Ability to analyse the performance of power systems

Subject Specific Practical Skills

Having successfully completed this module you will be able to:

• Ability to use commercial software for simulation
• A range of analytical and numerical methods of analysis of power systems

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Application of modern modelling techniques
• Ability to tackle problems of interdisciplinary nature

Introduction

• The evolution of electricity generation technologies
• The evolution of environmental awareness
• The size of the industry
• The politics of electricity
• Hierarchy of energy within the national economy

The utilisation of electric power

• Types of loads
• Classification of grid users
• Measurement of load
• Load loss factor
• Load control
• Load forecasting
• Tariffs
• Smart meters
• Impact of electric vehicles on the power grid

Power System Economics

• Basic pricing principles
• Supply-side and demand-side options
• Load management and spot pricing
• Electricity pricing
• Charging for transmission and distribution services
• Cost of generating electrical energy
• Methods of determining depreciation
• Importance of high load factor

Electricity markets

• Markets and monopolies
• Electricity market structure
• Market clearing
• Social welfare
• Market coupling
• Government control versus free market approach
• Decentralisation of the electricity market

Power factor improvement

• Causes and disadvantages of low power factor
• Calculation of power factor correction
• The most economical power factor
• Power factor improvement equipment

Economics of power transmission

• Economic choice of conductor size
• Economic choice of transmission voltage
• Most economical conductor size in a cable

Energy management system

• Load-flow or power-flow computation
• DC load-flow
• Optimal power flow
• State estimator

Control of transported and distributed power

• Evolution of smart grids
• Control of real power flows
• Control of reactive power flows
• Unified Power-Flow Controller
• State of the art of distribution systems
• Comparison of HVAC and HVDC systems in smart grids

Future power systems

• Renewable Energy
• Decentralised or Distributed Generation
• Power-Electronic Interfaces
• Energy Storage
• Blackouts and Chaotic Phenomena

Case studies

• UCTE split of 2006
• Western energy crisis of 2001
• EU market liberalisation

Resources & Reading list

Textbooks

D.S. Kirschen, G. Strbac (2018). Fundamentals of Power System Economics. Wiley-Blackwell.

B. Murray (2009). Power Markets and Economics. Wiley.

Weedy B.M., B.J. Cory (2012). Electric Power Systems. Wiley.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Repeat Information

Repeat type: Internal & External