Efficient Operation of the Power System in the Very Short-Run

In practice, power system operators put a lot of effort into ensuring that the power system will be able to withstand a shock known as a contingency. Chapter 11 starts by observing that the efficient short-run operation of a power system is an extension of the principles set out in the previous chapters. This leads to a discussion of the key role of intertemporal constraints and energy limits in short-term power system operation, which leads to a distinction between preventive and corrective actions. The problem of optimal dispatch in the presence of short-term intertemporal constraints is then introduced and applied to a number of simple network configurations. The chapter concludes with a discussion of whether these efficient short-run dispatch outcomes will be achieved in a decentralised market with primary reliance on price signals.