Economic Analysis of Power Systems

Code 3.6.3074.6
Semester 6th
Flow E - Electric Power Systems
Category Obligatory (half flow)
Credits 6
Class Hours - Lab Hours 4 - 0
Lecturers Pavlos Georgilakis, Anthony Papavasiliou


Analysis of electric loads. Load forecasting models. Computation of system marginal price in electricity market environment. Economic load dispatch without and with the consideration of transmission network losses. Unit commitment. Investment, operation, and average cost for the production of electrical energy. Pricing of electrical energy. Basic principles for the reliable operation of electric power systems. Markov methodology. Operational reliability indicators. Method of analysis of possible outages. Method of minimum paths and minimum cuts. Criterion of total loss of continuity. Temporary outages. Reliable operation of power generation systems (basic probabilistic methods, frequency and duration method). Cost of reliable operation. Maintenance strategies with reliability criteria.