Errata for
Power System Economics

Designing Markets for Electricity
 
 
Page 9.5 means half way down page 9.
Page Chapter
 As presently written
 As it should read
Thanks to ...   
39.8 1-3.4
Table 1-3.1 computes fixed and variable costs ...
Table 1-3.2 computes fixed and variable costs ...
Mike Rothkopf 
45.9 1-4.3
... considered part of demand even though it serves no end used.
... considered part of demand even though it serves no end user.
Mike Rothkopf 
52.9 1-5.2
In the same year Smith's book was published, George Washington observed, in his first inaugural address that the "Invisible Hand" (of God) had guided the United States to victory.
In his inaugural address of 1789, George Washington observed that the "Invisible Hand" (of God) had guided the United States to victory in 1776 (the same year Smith's book was published).
Ed Mills 
53.6 1-5.2
In this way free entry ensures that profits will not be above normal.
In this way free entry ensures that profits will not stay above normal.
Mike Rothkopf 
60.4 1-6
The definition of marginal cost does not apply only to the points of discontinuity. The standard definition of marginal cost does not apply to the points of discontinuity.
Mike Rothkopf 
65.3 1-6.2
Having analyzed the example, the preceding list of incorrect conclusions can be restated in their. 
Having analyzed the example, the preceding list of incorrect conclusions can be restated correctly as follows:
Richard Benjamin 
103.7 1-9.5
If a generator injects 100 MW and there are two loads on the system, 
If a generator injects 50 MW and there are two loads on the system,
Marcos Pourteau 
130.8 2-2.3
plant would serve a load slice with an average duration of 43.75% 
plant would serve a load slice with an average duration of 37.5% 

1000 MW× ($12/MWh + 0.4375 × $18/MWh) 
1000 MW× ($12/MWh + 0.375 × $18/MWh) 

which comes to $19,875/h. 
which comes to $18,750/h

1000 MW× ($6/MWh + 0.4375 × $30/MWh) 
1000 MW× ($6/MWh + 0.375 × $30/MWh) 

This comes to $19,125/h. The extra cost of $750/h is less than 0.4% of the total
This comes to $16,250/h. The extra cost of $2500/h is about 1.25% of the total
Isaac Castillo 
131.6 2-2.3
The average loss from the lumpiness of peakers is about $150/MWh 
The average loss from the lumpiness of peakers is about $150/h
Marcos Pourteau 
245.9 3-5.1
 ... 100 MW of power was sold for two hours at a price of $35/MWh.
 ... 100 MW of power was sold for two hours at a price of $50/MWh.
Marcos Pourteau 
301.5 3-9.2
This has been computed, and the results are shown in Figure 3-9.4. 
This has been computed, and the results are shown in Figure 3-9.3.
Marcos Pourteau 
329.1 4-2
 ... seldom meet together, even for a merriment or diversion, 
 ... seldom meet together, even for merriment and diversion,
Ed Mills