Book excerpt: "Emerging Techniques in Power System Analysis" identifies the new challenges facing the power industry following the deregulation. The book presents emerging techniques including data mining, grid computing, probabilistic methods, phasor measurement unit (PMU) and how to apply those techniques to solving the technical challenges. The book is intended for engineers and managers in the power industry, as well as power engineering researchers and graduate students. Zhaoyang Dong is an associate professor at the Department of Electrical Engineering, The Hong Kong Polytechnic University, China. Pei Zhang is program manager at the Electric Power Research Institute (EPRI), USA.