The electric power industry is evolving from its historical
business structure. The vertically integrated utility of the
past has been replaced by multiple players providing unbundled
services using market-oriented decision-making. Challenges for
success in this demanding business environment are being raised
by new market structures and ways of doing business, new technologies,
the demands of customers for customized services, strategic
choices between centralized and decentralized technologies,
institutional changes creating mega-RTOs, a graying industry
that needs well-trained power engineers, and new environmental
priorities. Yet the basic function of the industry – to
produce and to deliver power, safely and reliably – has
not changed. The challenges call for new strategies, technologies,
analytical capabilities and tools, and operating practices,
along with sound public policy guidance.
The Power Systems Engineering Research Center (PSERC)
draws on university capabilities to creatively address these
challenges. Under the banner of PSERC, multiple U.S. universities,
including Iowa State University, are working collaboratively
to investigate these topics. PSERC is an NSF sponsored Industry
University Cooperative Research Center. Faculty members at Iowa
State University are involved in several research projects sponsored
by PSERC.
For more information about PSERC, please visit their web site
at www.pserc.org.
