In this paper, we define a system of advanced analytical methods and tools for secure and efficient operation of the power system in the emerging energy markets. For this purpose, we first define the concept of the Independent System Operator (ISO) as a &generic& operator of an open-access transmission system. We then identify those functions of the ISO that arc essential for the security and efficiency of power system operation and identify and describe a system of analytical tools that would enable the ISO to perform the bulk of these functions.
- Independent system operator
- Optimal power flow
- Power system dispatch
- Power system modeling
- Power system scheduling
- Security controlled optimization
- Utility industiy restructuring