TIEE3007 Syllabus - Restructured Power Market - 2022 Regulation Anna University

TIEE3007 Syllabus - Restructured Power Market - 2022 Regulation Anna University

TIEE3007	RESTRUCTURED POWER MARKET	L T P C

3003

COURSE OBJECTIVES: Students will be able to:

• Describe various types of deregulated markets in power system.
• Describe the technical and non-technical issues in deregulated power industry.
• Classify different market mechanisms and summarize the role of various entities in the market.
• Analyze the energy and ancillary services management in deregulated power industry.
• Understand the restructuring framework US and Indian power sector

UNIT I	INTRODUCTION	(7+2 SKILL) 9

Reasons for restructuring - Understanding the restructuring process - objectives of deregulation of various power systems across the world - Consumer behavior - Supplier behavior - Market equilibrium - Short-run and Long-run COsts - Various COsts of production. The Philosophy of Market Models: Market models based on contractual arrangements - Market architecture .

UNIT II	TRANSMISSION CONGESTION MANAGEMENT	(7+2 SKILL) 9

Importance of congestion management in deregulated environment - Classification of congestion management methods - Calculation of ATC - Non-market methods - Market based methods - Nodal pricing - Inter-zonal Intra-zonal congestion management - Price area congestion management - Capacity alleviation method.

UNIT III	LOCATIONAL MARGINAL PRICES(LMP) AND FINANCIAL TRANSMISSION RIGHTS	(7+2 SKILL) 9

Fundamentals of locational marginal pricing - Lossless DCOPF model for LMP calculation - Loss compensated DCOPF model for LMP calculation - ACOPF model for LMP calculation - Risk Hedging Functionality Of financial Transmission Rights - FTR issuance process - Treatment of revenue shortfall - Secondary trading of FTRs - Flow Gate rights - FTR and market power.

UNIT IV	ANCILLARY SERVICE MANAGEMENT AND PRICING OF TRANSMISSION NETWORK	(7+2 SKILL) 9

Types of ancillary services - Load-generation balancing related services - Voltage control and reactive power support services - Black start capability service - Mandatory provision of ancillary services - Markets for ancillary services - Co-optimization of energy and reserve services - International comparison. Pricing of transmission network: wheeling - principles of transmission pricing - transmission pricing methods - Marginal transmission pricing paradigm - Composite pricing paradigm - loss allocation methods.

UNIT V	MARKET EVOLUTION	(7+2 SKILL) 9

US markets: PJM market - The Nordic power market - Reforms in Indian power sector: Framework of Indian power sector - Reform initiatives - availability based tariff (ABT) - The Electricity Act 2012 - Open Access issues - Power exchange.

TOTAL: 45 PERIODS

COURSE OUTCOMES: Students will be able to:

CO1: describe the requirement for deregulation of the electricity market and the philosophy of various market models
CO2: analyze the various methods of congestion management in deregulated power system
CO3: analyze the locational marginal pricing and financial transmission rights
CO4: analyze the ancillary service management
CO5: analyze transmission pricing paradigm
CO6: understand the evolution of deregulation in Indian power sector

TEXT BOOKS:

1. Mohammad Shahidehpour, Muwaffaq Alomoush, “Restructured electrical power systems: operation, trading and volatility” Marcel Dekker Pub., 2001, 1st Edition.
2. Kankar Bhattacharya, MathH.J.Boolen, and Jaap E.Daadler, "Operation of restructured power systems”, Kluwer Academic Pub.,2001, 1st Edition.

REFERENCES:

1. Sally Hunt, "Making competition work in electricity”, JohnWilley and Sons Inc. 2002.
2. Steven Stoft, Power System Economics: Designing Markets for Electricity”, Wiley-IEEE Press, 2002.
3. Allen. J. Wood and Bruce F. Wollen berg, ‘Power Generation, Operation and Control’, John Wiley & Sons, Inc., 2016, 3rd Edition.