Power System Operation and Control

1

Economic Aspects

OBJECTIVES

After reading this chapter, you should be able to

• know the economic aspects of power systems

• analyze the various load curves of economic power generation

• define the various terms of economic power generation

• understand the importance of load forecasting

1.1 INTRODUCTION

A power system consists of several generating stations, where electrical energy is generated, and several consumers for whose use the electrical energy is generated. The objective of any power system is to generate electrical energy in sufficient quantities at the best-suited locations and to transmit it to the various load centers and then distribute it to the various consumers maintaining the quality and reliability at an economic price. ...