Titlebook: Economics of Power Systems; Fundamentals for Sus Christoph Weber,Dominik Möst,Wolf Fichtner Textbook 2022 The Editor(s) (if applicable) and

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Electricity Transport and Storage,ems (FACTS) are characterised. Also, the principles of system operation including N-1 security and ancillary services like frequency control with operating reserves are discussed. The second part of the chapter deals with storage, starting with a brief discussion of the basics of operation. Then the

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Regulation: Grids and Environment,externalities. The link of specific emissions like CO. and nitrogen oxides (NO.) to environmental impacts like climate change and acidification is then established. Emissions may be reduced through pre-, post- and in-combustion technologies. In the context of climate change mitigation, these are rel

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Markets: Organisation, Trading and Efficiency,-)storability for the link between spot and future prices are also highlighted. Finally the basic option types, namely call options and put options, the role of the option premium and the payoff functions are illustrated, considering both long and short positions of traders.

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2192-4333 ces for electricity market regulation and sustainable power system development, as well as the current challenges for smart energy systems..978-3-030-97772-6978-3-030-97770-2Series ISSN 2192-4333 Series E-ISSN 2192-4341

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