9min chapter

Simplifying Complexity cover image

Governing the power grid

Simplifying Complexity

CHAPTER

Complexities in Regional Electricity Market Models

Exploring the challenges and strategies in maintaining power grid reliability within a regional transmission organization without physical assets. Contrasting decentralized decision-making approaches in California with Pennsylvania's successful centralized auction model for power plant operators based on anticipated demand. Analyzing the dynamics of power grid operations, market price fluctuations, and vulnerabilities to manipulation, emphasizing the importance of effective governance and control for system optimization and reliability.

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