Deregulation is causing dramatic change in the power industry but little
is known about how power systems will function under competition. What
are suitable performance objectives? What control designs are required
and what economic techniques should be used? This detailed analysis
attempts to answer these questions. The authors provide a modelling,
analysis and systems control framework that makes it possible to relate
distinctive features of the electric power industry to more conventional
supply/demand processes in other industries. Some parts of the system
can be distributed while other parts must remain co-ordinated. This
authoritative and detailed study is highly topical and will be of
interest to those working in the systems control area, especially in
electrical power. It is also most relevant for industrial economists as
well as academics in electrical power engineering.