Modern Power System that we see today and work with has evolved over a course of long period. This evolution started with the innovation and then went through different stages of adaptation, commercialization and modernization. After initial buildup of the system the business models that grew around the system faced regulation and deregulation. All of this and other technological advances transformed the power system that was built around centralized generation. However, with the integration of decentralized variable generation and storage systems the situation has become very complex and needs fast processing of various kind of information coming from different systems in order to maintain the quality and stability of this modern power system.
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