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- Chair: Ross Baldick, University of Texas, Austin
- Vice Chair: Lawrence Jones, Areva T&D
- Secretary: Sandra Ellis, Pacific Gas & Electric
This Committee is a part of the Power Systems Analysis, Computing, and Economics Committee of
the Power and Energy Society. The SCOPE of the Committee is:
Investigate and study all phases of engineering economics as it
affects the planning, design, and operations of power systems, pricing of
services, and design and monitoring of electricity markets.
Develop methods for the economic evaluation of generation, transmission,
and distribution facilities, including the determination of optimum overall
capital and operating costs and strategies for hedging risks.
Determine incremental costs of providing power generation, transmission,
distribution and delivery services and methods of price determination.
Analyze all aspects of electricity markets, including congestion
management and pricing, market power, incentives for operational and planning
decisions, and effects of alternative market structures.
Promote understanding of sound economics amongst engineers and promote
sound engineering principles in the design of electricity markets.
The Committee's intent is to focus on the following topics.
CORE FOCUS:
·
Analysis
of electricity markets,
·
Investments
in power systems,
·
Economics
of generation, transmission, distribution systems, and demand,
·
Economis
of system operations,
·
Financial
risk management,
·
Market
design,
·
Economics
of emerging technologies.
Priorities for the coming year:
- Understanding
and resolving the conflict between the traditional engineering view of
reliability and the economic view of reliability.
Investigate fundamental planning criteria, objectives, and
incentives for electric transmission.
Working groups and task forces:
- Economic
Test Systems Working Group,
- Sustainable
Energy Task Force,
- Power
Systems Economics Terms Wiki Working Group.
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