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    Abbreviations and Acronyms: Fundamentals of Power System Economics

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    This document contains a list of abbreviations and acronyms used in power system economics. There are over 30 abbreviations defined related to concepts like average costs, rates of return, types of power plants, transmission rights, system operators, and other economic and technical terms used in analyzing power systems. The list provides the shorthand forms and full terms for key concepts discussed in the referenced textbook on fundamentals of power system economics.

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    Abbreviations and Acronyms: Fundamentals of Power System Economics

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    This document contains a list of abbreviations and acronyms used in power system economics. There are over 30 abbreviations defined related to concepts like average costs, rates of return, types of power plants, transmission rights, system operators, and other economic and technical terms used in analyzing power systems. The list provides the shorthand forms and full terms for key concepts discussed in the referenced textbook on fundamentals of power system economics.

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    This document contains a list of abbreviations and acronyms used in power system economics. There are over 30 abbreviations defined related to concepts like average costs, rates of return, types of power plants, transmission rights, system operators, and other economic and technical terms used in analyzing power systems. The list provides the shorthand forms and full terms for key concepts discussed in the referenced textbook on fundamentals of power system economics.

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    14 views1 page

    Abbreviations and Acronyms: Fundamentals of Power System Economics

    Uploaded by

    as dds aaad
    This document contains a list of abbreviations and acronyms used in power system economics. There are over 30 abbreviations defined related to concepts like average costs, rates of return, types of power plants, transmission rights, system operators, and other economic and technical terms used in analyzing power systems. The list provides the shorthand forms and full terms for key concepts discussed in the referenced textbook on fundamentals of power system economics.

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    Abbreviations and acronyms

    AFC Average xed cost


    AVC Average variable cost
    CCGT Combined cycle gas turbine
    Disco (or distco) Distribution company
    FGRs Flowgate rights
    FTRs Financial transmission rights
    Genco Generating company
    IIRR Incremental Internal Rate of Return
    IPP Independent power producer
    IRR Internal Rate of Return
    ISO Independent system operator
    ITC Independent transmission company
    KCL Kirchoffs current law
    KKT Karush-Kuhn-Tucker
    KVL Kirchhoffs voltage law
    LRMC Long run marginal cost
    MARR Minimum Acceptable Rate of Return
    MES Minimum efcient size
    MO Market operator
    OCGT Open cycle gas turbine
    PTDF Power transfer distribution factor
    SMP System marginal price
    SO System operator
    SRMC Short run marginal cost
    Transco Transmission company
    VOLL Value of lost load

    Fundamentals of Power System Economics Daniel Kirschen and Goran Strbac


    2004 John Wiley & Sons, Ltd ISBN: 0-470-84572-4

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