Preface 4 N" {6 |9 C: V9 N3 K) k
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Prior to the 1970s, the U.S. electric power industry was technology driven. . q8 A/ |/ v. N, KEngineers were trained to focus on specific technologies and work in spe- : M5 h! L- k: B5 X- Wcialized areas. However, dramatic changes began taking place in the 1970s, # f' W/ N6 M7 @4 \% B
and an “energy crisis” ushered in a new era of tighter regulation. 0 _2 q$ s/ ` L r& D By the early 1990s, two decades of intense regulation were replaced by ) }, G4 c, Y$ Y3 q2 I' I$ b
a new policy of promoting open access and competition. The Energy Policy & N+ v0 n" a; ]/ HAct of 1992, followed by several significant Notices of Proposed Rulemakings + i; c% M, q% R: p2 L) ?4 B
and Orders from the U.S. Federal Energy Commission, required utilities to 9 x' B& H+ `0 ^compete for markets that were previously guaranteed. As a consequence, , Z5 F8 ?+ ~- S1 p
there were many mergers and acquisitions. Marketers with little or no power 4 | [0 v9 o( G/ I7 g. K3 F
industry experience moved into positions of influence. Engineering organi- * ^% ? a4 W! C: yzations were downsized, and the engineers who were left behind had to find 9 Z$ c: O4 K3 x- v" w$ {- P+ L
ways to prevent power systems from becoming less reliable. - R" q! I" M( [) \( F
Today the transition in industry structure is nearly complete. The U.S. 4 u) a: O0 P9 L% xelectric power industry is no longer technology driven. It is public policy 3 j4 q$ s# _- [0 Eand market driven. Just as utility companies have to change to survive in 8 g7 j, A" Q: J$ @the new competitive environment, engineers who choose to work in the % L- F' e* n8 Yindustry must learn a new set of skills and accommodate new disciplines. 8 n. \1 @& x3 g7 h
This book is intended to help educate new engineers for the new business . ]* k" k9 l/ j, f4 p
environment. We explain how new methods for power systems operations : V: I8 b/ l; {2 Z/ \5 M" Zand energy marketing relate to public policy, regulation, economics, and 9 }( r& A5 T- e3 [# Mengineering science. This book can serve as a textbook for an undergraduate ; b8 S2 B6 n% N( O* ^; I' jelective course for engineering students. Alternatively, it can be used for the $ c4 I/ o; T: W s/ P% k; y
continuing education of industrial power engineers and energy industry ( k; h9 O2 J) v1 X$ q- }employees. + j& P' X$ h7 ^: H X9 k# d