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ECE 556 - Power Market Economics and Security

Course Title: 

Power Market Economics and Security

Course Description: 

This course covers simulation and scheduling tools used in restructured power system for studying the economics and security of power systems. Topics include modeling of generating units (thermal units, combined-cycle units, fuel-switching/blending units, hydro units, pumped-storage units, photovoltaic, wind), Lagrangian Relaxation-based scheduling, mixed integer programming-based scheduling, and Benders decomposition-based transmission security analyses. The simulation and scheduling tools consider different time scales including on-line security, day-ahead, operational planning, and long-term. The simulation and scheduling tools consider interdependency of supply (such as gas, water, renewable sources of energy) and electricity systems.

Credit: 

(3-0-3)

Prerequisite: 

[(ECE 420)]

Corequisite: 

None