Electric Energy Generation
Economics, Reliability, and Rates
Electric generating systems are so complex that the problems of devising analytical techniques and models that predict their actual behavior are enormous. But since the reliable and economic operation of such systems has become necessary to everyday life, it is imperative that those problems be solved. A host of diverse techniques—ranging from simple graphical devices to sophisticated simulation and mathematical programming models—have been developed. Each of these, however, is applicable only to certain classes of problems, not to the systemwide performance of power generation. The purpose of this book is to present a unified approach applicable to a whole range of systems-analysis needs in the electric energy generation field, an approach based on the recently developed equivalent load-duration curve (ELDC). The first seven chapters review traditional concepts and issues in the field, including reliability analysis and reserve planning, operating cost calculation, and rate structure analysis. The remaining seven chapters, which emphasize the random nature of electric generating systems, develop the ELDC approach and show its applicability to the full range of concepts and issues that have long engaged the attention of system designers and decisionmakers. This comprehensive and sophisticated treatment will interest electric utility managers and researchers, planners, and various federal commissions on utilities, as well as operations researchers, systems analysts, and energy economists.