We now summarize what we have learnt in this Module
1)
A system operator can schedule several quantities (control variables) which ensure that the system operates with minimum cost of energy, while satisfying constraints of equipment and stability.
2)
Apart from generated real power there are several other control variables, which may be available for scheduling - at a service cost.
3)
In systems where generation is not a regulated monopoly, the price of electricity need not necessarily reflect actual costs, but may be sold at a price determined by load demand and competition.
4)
Real and reactive power scheduling problems can be formulated as constrained optimization problems.
Congratulations, you have finished Module V.
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