Modern Power System Restructuring Models with new algoritm

چکیده مقاله

Modern power industry operation is particularly difficult to understand because of the dichotomy between electricity’s business and physical manifestations. From the business perspective, electric power is an exchangeable commodity that can be traded much like any other commodity like oil, wheat, etc and for which futures markets and hedging systems do exist. But, in its physical manifestation, electricity is quite unlike all other traded commodities. The fundamental difference is that it cannot be stored to any significant degree. This greatly affects how it must be managed as a business asset, and greatly constrains its present and future market prices do or don’t interact, as compared to other commodities. In large part due to its ‘storage-less’ nature, electricity can be transported only on a real-time basis, and in a manner heavily constrained by myriad physical laws that are complicated in their interactions but nearly instantaneous in their impact.  

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