Fundamental concepts of mathematical modeling Modeling is one of the most effective, commonly used tools in engineering and the applied sciences. In this book, the authors deal with mathematical programming models both linear and nonlinear and across a wide range of practical applications. Whereas other books concentrate on standard methods of analysis, the authors focus on the power of modeling methods for solving practical problems-clearly showing the connection between physical and mathematical realities-while also describing and exploring the main concepts and tools at work. This highly computational coverage includes: * Discussion and implementation of the GAMS programming system * Unique coverage of compatibility * Illustrative examples that showcase the connection between model and reality * Practical problems covering a wide range of scientific disciplines, as well as hundreds of examples and end-of-chapter exercises * Real-world applications to probability and statistics, electrical engineering, transportation systems, and more Building and Solving Mathematical Programming Models in Engineering and Science is practically suited for use as a professional reference for mathematicians, engineers, and applied or industrial scientists, while also tutorial and illustrative enough for advanced students in mathematics or engineering.

Building and Solving Mathematical Programming Models in Engineering and Science

Science & Math

Conejo, Antonio J.

Castillo, Enrique

Pedregal, Pablo

García, Ricardo

Alguacil, Natalia

Mathematics

Wiley-Interscience

This addition to the ISOR series introduces complementarity models in a straightforward and approachable manner and uses them to carry out an in-depth analysis of energy markets, including formulation issues and solution techniques. In a nutshell, complementarity models generalize: a. optimization problems via their Karush-Kuhn-Tucker conditions b. on-cooperative games in which each player may be solving a separate but related optimization problem with potentially overall system constraints (e.g., market-clearing conditions) c. conomic and engineering problems that aren’t specifically derived from optimization problems (e.g., spatial price equilibria) d. roblems in which both primal and dual variables (prices) appear in the original formulation (e.g., The National Energy Modeling System (NEMS) or its precursor, PIES). As such, complementarity models are a very general and flexible modeling format. A natural question is why concentrate on energy markets for this complementarity approach? s it turns out, energy or other markets that have game theoretic aspects are best modeled by complementarity problems. The reason is that the traditional perfect competition approach no longer applies due to deregulation and restructuring of these markets and thus the corresponding optimization problems may no longer hold. Also, in some instances it is important in the original model formulation to involve both primal variables (e.g., production) as well as dual variables (e.g., market prices) for public and private sector energy planning. Traditional optimization problems can not directly handle this mixing of primal and dual variables but complementarity models can and this makes them all that more effective for decision-makers.

Complementarity Modeling in Energy Markets (International Series in Operations Research & Management Science, 180)

Business & Money

Ruiz, Carlos

Gabriel, Steven A.

Fuller, J. David

Hobbs, Benjamin F.

Economics

Springer

Decision Making Under Uncertainty in Electricity Markets (International Series in Operations Research & Management Science, 153)

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.

Morales, Juan M.

Carrión, Miguel

This addition to the ISOR series addresses the analytics of the operations of electric energy systems with increasing penetration of stochastic renewable production facilities, such as wind- and solar-based generation units.
As stochastic renewable production units become ubiquitous throughout electric energy systems, an increasing level of flexible backup provided by non-stochastic units and other system agents is needed if supply security and quality are to be maintained.
Within the context above, this book provides up-to-date analytical tools to address challenging operational problems such as:
• The modeling and forecasting of stochastic renewable power production. • The characterization of the impact of renewable production on market outcomes. • The clearing of electricity markets with high penetration of stochastic renewable units. • The development of mechanisms to counteract the variability and unpredictability of stochastic renewable units so that supply security is not at risk. • The trading of the electric energy produced by stochastic renewable producers. • The association of a number of electricity production facilities, stochastic and others, to increase their competitive edge in the electricity market. • The development of procedures to enable demand response and to facilitate the integration of stochastic renewable units.
This book is written in a modular and tutorial manner and includes many illustrative examples to facilitate its comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, applied mathematics and economics. Practitioners in the electric energy sector will benefit as well from the concepts and techniques explained in this book.

Integrating Renewables in Electricity Markets: Operational Problems (International Series in Operations Research & Management Science, 205)

Madsen, Henrik

Pinson, Pierre

Zugno, Marco

Management & Leadership

This book provides up-to-date analytical tools to address challenging operational problems in renewable energy production facilities, such as wind- and solar-based generation units. It includes many illustrative examples.

Morales, Juan M. M.

In a straightforward and approachable manner, this book introduces complementarity models, and uses them to carry out an in-depth analysis of energy markets, including formulation issues and solution techniques.

Gabriel, Steven A. A.

The unit commitment problem is a fundamental problem in the electric power industry. It addresses a fundamental decision that is taken when operating a power system, namely to set the schedule of power production for each generating unit in the system so that the demand for electricity is met at minimum cost. The schedule must also ensure that each unit operates within its technical limits; these typically include ramping constraints and minimum uptime/downtime constraints. Units that are scheduled to produce electricity during a given time period are said to be committed for that period.
Unit Commitment in Electric Energy Systems presents the most relevant mathematical optimization models for the unit commitment problem. It is an ideal starting reference for practitioner and researchers interested in this important and challenging problem, as it introduces the key technical details and summarizing their significance.

Unit Commitment in Electric Energy Systems (Foundations and Trends(r) in Electric Energy Systems)

Anjos, Miguel F.

Technology

Now Publishers

This book covers robust optimization theory and applications in the electricity sector. The advantage of robust optimization with respect to other methodologies for decision making under uncertainty are first discussed. Then, the robust optimization theory is covered in a friendly and tutorial manner. Finally, a number of insightful short- and long-term applications pertaining to the electricity sector are considered. Specifically, the book includes: robust set characterization, robust optimization, adaptive robust optimization, hybrid robust-stochastic optimization, applications to short- and medium-term operations problems in the electricity sector, and applications to long-term investment problems in the electricity sector. Each chapter contains end-of-chapter problems, making it suitable for use as a text.&nbsp; The purpose of the book is to provide a self-contained overview of robust optimization techniques for decision making under uncertainty in the electricity sector. The targeted audience includes industrial and power engineering students and practitioners in energy fields. The young field of robust optimization is reaching maturity in many respects. It is also useful for practitioners, as it provides a number of electricity industry applications described up to working algorithms (in JuliaOpt).

Robust Optimization in Electric Energy Systems (International Series in Operations Research & Management Science)

Sun, Xu Andy

This book describes the latest microeconomic concepts and operations research (OR) techniques needed to comprehend the design and operation of power markets, as well as the actions of their agents: producers, consumers, operators, and regulators. This is critical when it comes to addressing a constantly evolving power system environment that incorporates an increasing number of no-marginal-cost renewable sources, increasingly competitive storage facilities, increasingly responsive demands, and widespread communication channels that allow distributed decision-making. Such evolving environments call for a re-examination of the microeconomic concepts and OR techniques required by graduate students and practitioners in the electric energy field. 
This accessible, tutorial-style book features numerous illustrative examples to help readers grasp the economic concepts and OR procedures used by power market professionals. The authors explian these concepts and procedures and present a vision of a renewable-dominated marketplace. Each chapter also includes exercises.\nFrom the Back Cover\nThis book describes the latest microeconomic concepts and operations research (OR) techniques needed to comprehend the design and operation of power markets, as well as the actions of their agents: producers, consumers, operators, and regulators. This is critical when it comes to addressing a constantly evolving power system environment that incorporates an increasing number of no-marginal-cost renewable sources, increasingly competitive storage facilities, increasingly responsive demands, and widespread communication channels that allow distributed decision-making. Such evolving environments call for a re-examination of the microeconomic concepts and OR techniques required by graduate students and practitioners in the electric energy field.\nThis accessible, tutorial-style book features numerous illustrative examples to help readers grasp the economic concepts and OR procedures used by power market professionals. The authors explain these concepts and procedures and present a vision of a renewable-dominated marketplace. Each chapter also includes exercises.

Economics of Power Systems (International Series in Operations Research & Management Science, 327)

Tanaka, Makoto

Siddiqui, Afzal S.

Economics of Power Systems (International Series in Operations Research & Management Science)

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