Power System Economics Subcommittee
Leadership Team
Chair: Dr. Erik Ela, Electric Power Research Institute, eela@epri.com
Vice Chair: Dr. Tongxin Zheng, ISO-NE, tzheng@iso-ne.com
Secretary: Dr. Rui Bo, Missouri University of Science and Technology, rbo@mst.edu
Past Chairs:
Dr. Ramteen Sioshansi, The Ohio State University, sioshansi.1@osu.edu
Dr. Ning Lu, North Carolina State University, nlu2@ncsu.edu
Dr. Hamidreza Zareipour, University of Calgary, hzareipo@ucalgary.ca
Dr. Andre Luiz Diniz, CEPEL, diniz@cepel.br
Scope
The Power System Economics Subcommittee (PSE SC) disseminates information to industry on the design and operation of electricity markets, as well as underlying issues surrounding power system economics and regulatory frameworks. The PSE SC is involved in the following five thematic areas.
- Investigating and studying 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.
- Developing 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.
- Determining incremental costs of providing power generation, transmission, distribution and delivery services and methods of price determination.
- Analyzing all aspects of electricity markets, including congestion management and pricing, market power, incentives for operational and planning decisions, and effects of alternative market structures.
- Promoting understanding of sound economics amongst engineers and promote sound engineering principles in the design of electricity markets.
Items of particular interest to the PSE SC include:
- electricity market design, operation, and analysis;
- investments in power systems;
- economics of generation, transmission and distribution, and storage of electricity;
- economics of power system operation;
- financial risk management;
- economics of emerging technologies; and
- coordination of natural gas and electricity markets.
Working Groups and Task Forces
The PSE SC carries out much of its work through a mix of Working Groups (WGs) and Task Forces (TFs). Currently active WGs and TFs are:
- WG on Business Models for Energy Storage (Chair: Yury Dvorkin)
- WG on Demand Response (Chair: Gregor Verbic)
- WG on Test Systems for Economic Analysis (Chair: Xiao-Ping Zhang, Vice-chair: Rodrigo Palma)
- WG on Energy Forecasting and Analytics (Chair: Jethro Browell, Vice-chair: Yi Wang)
WG and TF Proposals: The PSE SC is always interested in proposals for new WGs and TFs that are well aligned with its scope. WG and TF proposals must be presented to the PSE SC during its business meeting, which takes place during the IEEE PES General Meeting. Proposals should be discussed with the SC Leadership Team to ensure that discussion of the proposal is on the business meeting agenda. A template is available, which must be used to summarize its scope and goals, proposed members, and activities. Activities are especially important, as the Power System Operation, Planning and Economics Committee and PSE SC do not sponsor inactive WGs or TFs.
Resources
- PSE SC mailing list.
- Template for PSOPE working group and task force proposals.
- Slides from panels at IEEE PES meetings that are hosted by the PSE SC.
- PSE SC meeting reports.