Power Sector in India – Classical Operation of Power System, Least Cost Operation, Marginal Cost, Incremental Cost – inter utility interchange. Fundamentals of deregulated power system: Requirements and key issues – restructuring models – independent system operator (ISO).
Electricity Market: Competitive market - supply and demand functions, market equilibrium, types of market. Market power and mitigation, imperfect market. Transmission open access: transmission pricing, pricing scheme, concept of distribution factors – Location based Marginal Pricing LMPs.
Transmission capacity: Available Transfer Capacity (ATC), Open Access Sametime Information Systems (OASIS) – Transmission congestion management – Ancillary services: classification and definition – Indian Electricity Acts and Policies – 2003 acts – Availability Based Tariff (ABT).