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A reliable, economically competitive and environmentally sustainable electricity system is the cornerstone of a modern society. Electrical power systems are one of the most complex large scale systems. Over the past decades, with deregulation and increasing demand in many countries, power systems have been operated in a stressed condition and subject to higher risks of instability and more uncertainties. The electric power industry is experiencing a period of sustained growth to meet the growing energy needs of the planet. Innovations such as deployment of smart grid solutions will facilitate the pending growth of the infrastructure as new facilities are added to the network and embedded with the installed base. Grid intelligence will assist planners and operators deal with the increasing complexity of secure and reliable power supply and delivery.

System operators are responsible for secure system operations in order to supply electricity to consumers efficiently and reliably. Consequently, power system analysis tasks have become increasingly challenging and require more advanced techniques. Perhaps one of the most significant trends in power system transformation is the growing democratization and diversification of supply. Enabled by technological, policy, and business model innovations, power systems are moving from being purely centralized systems to a more complex and interacting set of systems at multiple levels. These innovations are fueling the growth of energy entrepreneurship, disrupting traditional energy business models and enabling new models for achieving secure, affordable, and clean power systems.

Principles of Power Engineering Analysis covers research trends and reviews on some the key emerging techniques for power system analysis. It also sheds lights on the next generation technology innovations given the rapid changes occurring in the power industry, especially with the recent initiatives toward a smart grid. It summarizes key forces driving transformation in the power sector around the world, presents a framework for evaluating decisions regarding extent and pace of change, and defines pathways for transformation. Powerful trends in technology, policy environments, financing, and business models are driving change in power sectors globally.

In this context, the book originates with the goal of providing a grounded view that can enable sound and proactive choices by decision makers. The focus extends from technology to business models to the institutional arrangements that enable orderly investment and reliable system operation, in order to drive transformation that aligns with policy goals.