General Resources on
Electric Power Systems

Last Updated: 25 April 2022

Site Maintained By:
Leigh Tesfatsion
Research Professor & Professor Emerita of Economics
Courtesy Research Professor of Electrical & Computer Engineering
Heady Hall 260
Iowa State University
Ames, Iowa 50011-1054
ORCID ID: 0000-0002-7783-2708
http://www2.econ.iastate.edu/tesfatsi/
tesfatsi AT iastate.edu

Power Economics Course (Designed for Distance Ed)
Electric Power Market Open-Source Software
Agent-Based Electric Power System Research
Electric Power System Schematic

Table of Contents

Introduction

Starting in the mid-nineteen nineties, the U.S. electric power industry has undergone substantial changes in both its structure (ownership and technology aspects) and its architecture (operational and oversight aspects).

During the early years of this restructuring, these changes largely consisted of efforts to move the industry away from highly regulated markets with administered cost-based pricing and towards competitive markets in which prices more fully reflected supply and demand forces. The goal of these changes was to provide industry participants with better incentives to control costs and introduce innovations.

These early restructuring efforts were controversial and difficult. The meltdown in the restructured California wholesale power market in the summer of 2000 -- due in part to market manipulation by Enron traders -- demonstrated what could happen when newly proposed market designs were implemented without sufficient pre-testing. Following this California crisis, many electric power system researchers stressed the need to combine sound understanding of physical electric power system operations with careful economic analyses of incentives in order to develop electric power systems with good real-world performance characteristics.

The primary goal of this resource site is to encourage the study of electric power systems from a perspective that adequately addresses both economic and engineering concerns. Special attention is paid to electric power system research making use of agent-based modeling (ABM). The ABM approach is specifically designed for the study of complex dynamical systems of interacting entities. Agent-based computational platforms, particularly in co-simulated form, permit electric power systems to be studied as evolving networks of system operators, producers, traders, and customers learning to operate through time over realistically rendered transmission and distribution grids.

Online Resource Sites

Basic Background Materials

The Electricity Industry

Authored Readings:

On-Line Sites Focusing on the Electric Power Industry:

Agent-Based Computational Economics (ACE)

Authored Readings:

ACE-Related Websites:

Auction Mechanisms (Pricing Protocols)

Authored Readings:

Game Theory (Pricing and Trading Strategies)

Authored Readings:

Websites on Game Theory:

Learning and the Evolution of Behavioral Rules

Authored Readings:

Websites:

Network Economics

Websites:

Software Resources

Case Study Resources


U.S. RESTRUCTURED WHOLESALE ELECTRIC POWER MARKETS:


GENERAL REGULATORY POLICY:


CASE STUDIES: GENERAL INFORMATION SOURCES


AUSTRALIA:


CALIFORNIA, U.S.A.:

Authored Readings:

Websites on the California Electric Power Industry:


MIDWEST, U.S.A.


NEW ENGLAND, U.S.A.:


NEW YORK, U.S.A.:


NEW ZEALAND:

Authored Readings:


PENNSYLVANIA-NEW JERSEY-MARYLAND, U.S.A.:


Southwest, U.S.A. (SPP):


SPAIN:

Authored Readings:


TEXAS, U.S.A.:


UNITED KINGDOM:

Authored Readings:

Websites on the United Kingdom Electricity Industry:


OTHER CASE STUDY RESOURCES

Online Resources:

Introductory Materials on the Smart Grid

Acknowledgments:

The initial development of this website in 1999 was funded in part by the National Science Foundation under a contract titled "Decision Models for Bulk Energy Transportation Networks." Subsequent development has been funded in part by Electric Power Research Center (EPRC) research grants, by the Los Alamos National Laboratory under a consultancy agreement, and by the Electric Power Research Institute and the Department of Defense through a contract titled "Innovative Technologies for Defense Against Catastrophic Failures of Complex Interactive Power Networks," a cooperative effort by Iowa State University, the University of Washington, Arizona State University, and Virginia Polytechnic and State University under a Joint Initiative on the Analysis of Complex Dynamical Systems.

Copyright © 2013 Leigh Tesfatsion. All Rights Reserved.