Lecture

Power System Economics Fundamentals

In course

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Description

This lecture covers the fundamentals of power system economics, focusing on the Cournot model of competition and Nash equilibrium points. It explains how generating companies maximize profit by adjusting their output and the calculations involved. The lecture also delves into the optimization problems for generators A and B, emphasizing the importance of system security and ancillary services in power systems.

Instructor

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Official source

https://mediaspace.epfl.ch/media/0_5houa498

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Ontological neighbourhood

Economics

Macroeconomics: Competition

Industrial and production engineering

Industrial processes: Machine tool

Theoretical computer science

Algorithms and data structures: Combinatorial optimization

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