Advanced and intelligent technologies for reliable operation of power systems and electricity markets

Deregulation of power industries is still progressing in many countries, aiming at reduction of the electricity price, diversity of customer diverse choices, services and promotion of new business and keeping supply reliability. Many countries are testing this notion in anticipation of lower power prices through open competition. In such a competitive situation, it is necessary for suppliers to take on the responsibility of keeping supply reliability at the load end in order to prevent outages, for instance, independent power producers (IPP) placing distributed generations (DGs) close to the load or conventional utilities utilizing advanced and intelligent system operation/control technologies that are costly. Usually, customers pay one price for power that is good enough for ordinary use, therefore not necessarily highly consistent in quality of voltage, current, frequency or reliability. However, if customers desire better quality power, additional fees are added according to the particular characteristics desired, thus customers are supplied with this type of better power that they choose. Under such a worldwide new trend in power systems and markets, this article is edited for the purpose of introducing the most advanced technologies and the newest issues related to reliable and stable operations of power markets and systems in the competitive environment. © 2008 Institute of Electrical Engineers of Japan. Published by John Wiley & Sons, Inc.