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Macroeconomics --- Operational research. Game theory --- Mathematical statistics --- Planning (firm) --- Business management --- management --- mathematische modellen --- macro-economie --- econometrie --- operationeel onderzoek

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Decision Making Under Uncertainty in Electricity Markets provides models and procedures to be used by electricity market agents to make informed decisions under uncertainty. These procedures rely on well established stochastic programming models, which make them efficient and robust. Particularly, these techniques allow electricity producers to derive offering strategies for the pool and contracting decisions in the futures market. Retailers use these techniques to derive selling prices to clients and energy procurement strategies through the pool, the futures market and bilateral contracting. Using the proposed models, consumers can derive the best energy procurement strategies using the available trading floors. The market operator can use the techniques proposed in this book to clear simultaneously energy and reserve markets promoting efficiency and equity. The techniques described in this book are of interest for professionals working on energy markets, and for graduate students in power engineering, applied mathematics, applied economics, and operations research.

Macroeconomics --- Operational research. Game theory --- Mathematical statistics --- Electricity --- Electronics --- Applied physical engineering --- Planning (firm) --- Business management --- Equipment, services, installations in buildings --- elektrische netwerken --- besluitvorming --- management --- mathematische modellen --- macro-economie --- speltheorie --- econometrie --- operationeel onderzoek --- vermogenselektronica --- elektrische machines --- elektriciteitsdistributie

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Decision Making Under Uncertainty in Electricity Markets provides models and procedures to be used by electricity market agents to make informed decisions under uncertainty. These procedures rely on well established stochastic programming models, which make them efficient and robust. Particularly, these techniques allow electricity producers to derive offering strategies for the pool and contracting decisions in the futures market. Retailers use these techniques to derive selling prices to clients and energy procurement strategies through the pool, the futures market and bilateral contracting. Using the proposed models, consumers can derive the best energy procurement strategies using the available trading floors. The market operator can use the techniques proposed in this book to clear simultaneously energy and reserve markets promoting efficiency and equity. The techniques described in this book are of interest for professionals working on energy markets, and for graduate students in power engineering, applied mathematics, applied economics, and operations research.

Economics/Management Science. --- Operations Research/Decision Theory. --- Power Electronics, Electrical Machines and Networks. --- Financial Economics. --- Operations Research, Mathematical Programming. --- Economics. --- Operations research. --- Production of electric energy or power. --- Finance. --- Economie politique --- Recherche opérationnelle --- Finances --- Economics --- Operations research --- Production of electric energy or power --- Finance --- AA / International- internationaal --- 305.6 --- 338.753.2 --- Risicotheorie, speltheorie. Risicokapitaal. Beslissingsmodellen. --- Elektrische energie. --- Decision making --- Electric utilities --- Energy industries --- Industries --- Power resources --- Electric companies --- Electric light and power industry --- Electric power industry --- Electric industries --- Public utilities --- Mathematical models --- Finance&delete& --- Risk management&delete& --- Risicotheorie, speltheorie. Risicokapitaal. Beslissingsmodellen --- Elektrische energie --- Risk management

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This book provides an in-depth analysis of investment problems pertaining to electric energy infrastructure, including both generation and transmission facilities. The analysis encompasses decision-making tools for expansion planning, reinforcement, and the selection and timing of investment options. In this regard, the book provides an up-to-date description of analytical tools to address challenging investment questions such as: How can we expand and/or reinforce our aging electricity transmission infrastructure? How can we expand the transmission network of a given region to integrate significant amounts of renewable generation? How can we expand generation facilities to achieve a low-carbon electricity production system? How can we expand the generation system while ensuring appropriate levels of flexibility to accommodate both demand-related and production-related uncertainties? How can we choose among alternative production facilities? What is the right time to invest in a given production or transmission facility? Written in a tutorial style and modular format, the book includes a wealth of illustrative examples to facilitate comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, operations research, management science, and economics. Practitioners in the electric energy sector will also benefit from the concepts and techniques presented here.

Energy. --- Energy policy. --- Energy and state. --- Operations research. --- Decision making. --- Computer simulation. --- Mathematical models. --- Energy industries. --- Energy Policy, Economics and Management. --- Operation Research/Decision Theory. --- Energy Economics. --- Mathematical Modeling and Industrial Mathematics. --- Simulation and Modeling. --- Models, Mathematical --- Computer modeling --- Computer models --- Modeling, Computer --- Models, Computer --- Simulation, Computer --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management --- Management decisions --- Operational analysis --- Operational research --- Energy and state --- Power resources --- State and energy --- Decision making --- Government policy --- Operations Research/Decision Theory. --- Electromechanical analogies --- Mathematical models --- Simulation methods --- Model-integrated computing --- Industrial engineering --- Management science --- Research --- System theory --- Electric utilities --- Finance. --- Choice (Psychology) --- Problem solving --- Industrial policy --- Energy conservation

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Microeconomics. --- Electric industries. --- Electric utilities --- Costs. --- Price theory --- Economics --- Electric power --- Industries --- Costs