Optimization Methods For Gas And Power Markets

Optimization Methods For Gas And Power Markets Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Optimization Methods For Gas And Power Markets book. This book definitely worth reading, it is an incredibly well-written.

Optimization Methods for Gas and Power Markets

Enrico Edoli,Stefano Fiorenzani,Tiziano Vargiolu
Optimization Methods for Gas and Power Markets Book PDF

Author : Enrico Edoli,Stefano Fiorenzani,Tiziano Vargiolu
Publisher : Springer
Page : 192 pages
File Size : 42,9 Mb
Release : 2016-04-30
Category : Business & Economics
ISBN : 9781137412973

Get Book

Optimization Methods for Gas and Power Markets by Enrico Edoli,Stefano Fiorenzani,Tiziano Vargiolu Pdf

As power and gas markets are becoming more and more mature and globally competitive, the importance of reaching maximum potential economic efficiency is fundamental in all the sectors of the value chain, from investments selection to asset optimization, trading and sales. Optimization techniques can be used in many different fields of the energy industry, in order to reduce production and financial costs, increase sales revenues and mitigate all kinds of risks potentially affecting the economic margin. For this reason the industry has now focused its attention on the general concept of optimization and to the different techniques (mainly mathematical techniques) to reach it. Optimization Methods for Gas and Power Markets presents both theoretical elements and practical examples for solving energy optimization issues in gas and power markets. Starting with the theoretical framework and the basic business and economics of power and gas optimization, it quickly moves on to review the mathematical optimization problems inherent to the industry, and their solutions – all supported with examples from the energy sector. Coverage ranges from very long-term (and capital intensive) optimization problems such as investment valuation/diversification to asset (gas and power) optimization/hedging problems, and pure trading decisions. This book first presents the readers with various examples of optimization problems arising in power and gas markets, then deals with general optimization problems and describes the mathematical tools useful for their solution. The remainder of the book is dedicated to presenting a number of key business cases which apply the proposed techniques to concrete market problems. Topics include static asset optimization, real option evaluation, dynamic optimization of structured products like swing, virtual storage or virtual power plant contracts and optimal trading in intra-day power markets. As the book progresses, so too does the level of mathematical complexity, providing readers with an appreciation of the growing sophistication of even common problems in current market practice. Optimization Methods for Gas and Power Markets provides a valuable quantitative guide to the technicalities of optimization methodologies in gas and power markets; it is essential reading for practitioners in the energy industry and financial sector who work in trading, quantitative analysis and energy risk modeling.

Optimization in the Energy Industry

Josef Kallrath,Panos M. Pardalos,Steffen Rebennack,Max Scheidt
Optimization in the Energy Industry Book PDF

Author : Josef Kallrath,Panos M. Pardalos,Steffen Rebennack,Max Scheidt
Publisher : Springer Science & Business Media
Page : 537 pages
File Size : 40,5 Mb
Release : 2008-12-25
Category : Mathematics
ISBN : 9783540889656

Get Book

Optimization in the Energy Industry by Josef Kallrath,Panos M. Pardalos,Steffen Rebennack,Max Scheidt Pdf

This book offers a broad, in-depth overview that reflects the requirements, possibilities and limits of mathematical optimization and, especially, stochastic optimization in the energy industry.

Electricity Markets

Sayyad Nojavan,Kazem Zare
Electricity Markets Book PDF

Author : Sayyad Nojavan,Kazem Zare
Publisher : Springer Nature
Page : 274 pages
File Size : 46,8 Mb
Release : 2020-03-10
Category : Business & Economics
ISBN : 9783030369798

Get Book

Electricity Markets by Sayyad Nojavan,Kazem Zare Pdf

This book analyzes new electricity pricing models that consider uncertainties in the power market due to the changing behavior of market players and the implementation of renewable distributed generation and responsive loads. In-depth chapters examine the different types of market players including the generation, transmission, and distribution companies, virtual power plants, demand response aggregators, and energy hubs and microgrids. Expert authors propose optimal operational models for short-term performance and scheduling and present readers with solutions for pricing challenges in uncertain environments. This book is useful for engineers, researchers and students involved in integrating demand response programs into smart grids and for electricity market operation and planning. Proposes optimal operation models; Discusses the various players in today's electricity markets; Describes the effects of demand response programs in smart grids.

Optimization Methods Applied to Power Systems

Francisco G. Montoya,Raúl Baños Navarro
Optimization Methods Applied to Power Systems Book PDF

Author : Francisco G. Montoya,Raúl Baños Navarro
Publisher : MDPI
Page : 306 pages
File Size : 40,6 Mb
Release : 2019-07-26
Category : Technology & Engineering
ISBN : 9783039211562

Get Book

Optimization Methods Applied to Power Systems by Francisco G. Montoya,Raúl Baños Navarro Pdf

This book presents an interesting sample of the latest advances in optimization techniques applied to electrical power engineering. It covers a variety of topics from various fields, ranging from classical optimization such as Linear and Nonlinear Programming and Integer and Mixed-Integer Programming to the most modern methods based on bio-inspired metaheuristics. The featured papers invite readers to delve further into emerging optimization techniques and their real application to case studies such as conventional and renewable energy generation, distributed generation, transport and distribution of electrical energy, electrical machines and power electronics, network optimization, intelligent systems, advances in electric mobility, etc.

Energy Storage in Energy Markets

Behnam Mohammadi-Ivatloo,Amin Mohammadpour Shotorbani,Amjad Anvari-Moghaddam
Energy Storage in Energy Markets Book PDF

Author : Behnam Mohammadi-Ivatloo,Amin Mohammadpour Shotorbani,Amjad Anvari-Moghaddam
Publisher : Academic Press
Page : 452 pages
File Size : 50,5 Mb
Release : 2021-04-30
Category : Science
ISBN : 9780128203835

Get Book

Energy Storage in Energy Markets by Behnam Mohammadi-Ivatloo,Amin Mohammadpour Shotorbani,Amjad Anvari-Moghaddam Pdf

Energy Storage in Energy Markets reviews the modeling, design, analysis, optimization and impact of energy storage systems in energy markets in a way that is ideal for an audience of researchers and practitioners. The book provides deep insights on potential benefits and revenues, economic evaluation, investment challenges, risk analysis, technical requirements, and the impacts of energy storage integration. Heavily referenced and easily accessible to policymakers, developers, engineer, researchers and students alike, this comprehensive resource aims to fill the gap in the role of energy storage in pool/local energy/ancillary service markets and other multi-market commerce. Chapters elaborate on energy market fundamentals, operations, energy storage fundamentals, components, and the role and impact of storage systems on energy systems from different aspects, such as environmental, technical and economics, the role of storage devices in uncertainty handling in energy systems and their contributions in resiliency and reliability improvement. Provides integrated techno-economic analysis of energy storage systems and the energy markets Reviews impacts of electric vehicles as moving energy storage and loads on the electricity market Analyzes the role and impact of energy storage systems in the energy, ancillary, reserve and regulatory multi-market business Applies advanced methods to the economic integration of large-scale energy storage systems Develops an evaluation framework for energy market storage systems

Modeling and Optimization of Interdependent Energy Infrastructures

Wei Wei,Jianhui Wang
Modeling and Optimization of Interdependent Energy Infrastructures Book PDF

Author : Wei Wei,Jianhui Wang
Publisher : Springer Nature
Page : 709 pages
File Size : 51,5 Mb
Release : 2019-10-22
Category : Technology & Engineering
ISBN : 9783030259587

Get Book

Modeling and Optimization of Interdependent Energy Infrastructures by Wei Wei,Jianhui Wang Pdf

This book opens up new ways to develop mathematical models and optimization methods for interdependent energy infrastructures, ranging from the electricity network, natural gas network, district heating network, and electrified transportation network. The authors provide methods to help analyze, design, and operate the integrated energy system more efficiently and reliably, and constitute a foundational basis for decision support tools for the next-generation energy network. Chapters present new operation models of the coupled energy infrastructure and the application of new methodologies including convex optimization, robust optimization, and equilibrium constrained optimization. Four appendices provide students and researchers with helpful tutorials on advanced optimization methods: Basics of Linear and Conic Programs; Formulation Tricks in Integer Programming; Basics of Robust Optimization; Equilibrium Problems. This book provides theoretical foundation and technical applications for energy system integration, and the the interdisciplinary research presented will be useful to readers in many fields including electrical engineering, civil engineering, and industrial engineering.

Modern Optimization Methods for Decision Making Under Risk and Uncertainty

Alexei A. Gaivoronski,Pavlo S. Knopov,Volodymyr A. Zaslavskyi
Modern Optimization Methods for Decision Making Under Risk and Uncertainty Book PDF

Author : Alexei A. Gaivoronski,Pavlo S. Knopov,Volodymyr A. Zaslavskyi
Publisher : CRC Press
Page : 388 pages
File Size : 55,8 Mb
Release : 2023-10-06
Category : Computers
ISBN : 9781000983920

Get Book

Modern Optimization Methods for Decision Making Under Risk and Uncertainty by Alexei A. Gaivoronski,Pavlo S. Knopov,Volodymyr A. Zaslavskyi Pdf

The book comprises original articles on topical issues of risk theory, rational decision making, statistical decisions, and control of stochastic systems. The articles are the outcome of a series international projects involving the leading scholars in the field of modern stochastic optimization and decision making. The structure of stochastic optimization solvers is described. The solvers in general implement stochastic quasi-gradient methods for optimization and identification of complex nonlinear models. These models constitute an important methodology for finding optimal decisions under risk and uncertainty. While a large part of current approaches towards optimization under uncertainty stems from linear programming (LP) and often results in large LPs of special structure, stochastic quasi-gradient methods confront nonlinearities directly without need of linearization. This makes them an appropriate tool for solving complex nonlinear problems, concurrent optimization and simulation models, and equilibrium situations of different types, for instance, Nash or Stackelberg equilibrium situations. The solver finds the equilibrium solution when the optimization model describes the system with several actors. The solver is parallelizable, performing several simulation threads in parallel. It is capable of solving stochastic optimization problems, finding stochastic Nash equilibria, and of composite stochastic bilevel problems where each level may require the solution of stochastic optimization problem or finding Nash equilibrium. Several complex examples with applications to water resources management, energy markets, pricing of services on social networks are provided. In the case of power system, regulator makes decision on the final expansion plan, considering the strategic behavior of regulated companies and coordinating the interests of different economic entities. Such a plan can be an equilibrium − a planned decision where a company cannot increase its expected gain unilaterally.

Stochastic Optimization Methods in Finance and Energy

Marida Bertocchi,Giorgio Consigli,Michael A. H. Dempster
Stochastic Optimization Methods in Finance and Energy Book PDF

Author : Marida Bertocchi,Giorgio Consigli,Michael A. H. Dempster
Publisher : Springer Science & Business Media
Page : 480 pages
File Size : 55,5 Mb
Release : 2011-09-15
Category : Business & Economics
ISBN : 9781441995865

Get Book

Stochastic Optimization Methods in Finance and Energy by Marida Bertocchi,Giorgio Consigli,Michael A. H. Dempster Pdf

This volume presents a collection of contributions dedicated to applied problems in the financial and energy sectors that have been formulated and solved in a stochastic optimization framework. The invited authors represent a group of scientists and practitioners, who cooperated in recent years to facilitate the growing penetration of stochastic programming techniques in real-world applications, inducing a significant advance over a large spectrum of complex decision problems. After the recent widespread liberalization of the energy sector in Europe and the unprecedented growth of energy prices in international commodity markets, we have witnessed a significant convergence of strategic decision problems in the energy and financial sectors. This has often resulted in common open issues and has induced a remarkable effort by the industrial and scientific communities to facilitate the adoption of advanced analytical and decision tools. The main concerns of the financial community over the last decade have suddenly penetrated the energy sector inducing a remarkable scientific and practical effort to address previously unforeseeable management problems. Stochastic Optimization Methods in Finance and Energy: New Financial Products and Energy Markets Strategies aims to include in a unified framework for the first time an extensive set of contributions related to real-world applied problems in finance and energy, leading to a common methodological approach and in many cases having similar underlying economic and financial implications. Part 1 of the book presents 6 chapters related to financial applications; Part 2 presents 7 chapters on energy applications; and Part 3 presents 5 chapters devoted to specific theoretical and computational issues.

Modeling and Valuation of Energy Structures

Daniel Mahoney
Modeling and Valuation of Energy Structures Book PDF

Author : Daniel Mahoney
Publisher : Springer
Page : 455 pages
File Size : 50,7 Mb
Release : 2016-01-26
Category : Business & Economics
ISBN : 9781137560155

Get Book

Modeling and Valuation of Energy Structures by Daniel Mahoney Pdf

Commodity markets present several challenges for quantitative modeling. These include high volatilities, small sample data sets, and physical, operational complexity. In addition, the set of traded products in commodity markets is more limited than in financial or equity markets, making value extraction through trading more difficult. These facts make it very easy for modeling efforts to run into serious problems, as many models are very sensitive to noise and hence can easily fail in practice. Modeling and Valuation of Energy Structures is a comprehensive guide to quantitative and statistical approaches that have been successfully employed in support of trading operations, reflecting the author's 17 years of experience as a front-office 'quant'. The major theme of the book is that simpler is usually better, a message that is drawn out through the reality of incomplete markets, small samples, and informational constraints. The necessary mathematical tools for understanding these issues are thoroughly developed, with many techniques (analytical, econometric, and numerical) collected in a single volume for the first time. A particular emphasis is placed on the central role that the underlying market resolution plays in valuation. Examples are provided to illustrate that robust, approximate valuations are to be preferred to overly ambitious attempts at detailed qualitative modeling.

Managing Energy Risk

Markus Burger,Bernhard Graeber,Gero Schindlmayr
Managing Energy Risk Book PDF

Author : Markus Burger,Bernhard Graeber,Gero Schindlmayr
Publisher : John Wiley & Sons
Page : 452 pages
File Size : 51,6 Mb
Release : 2014-06-23
Category : Business & Economics
ISBN : 9781118618585

Get Book

Managing Energy Risk by Markus Burger,Bernhard Graeber,Gero Schindlmayr Pdf

An overview of today's energy markets from a multi-commodity perspective As global warming takes center stage in the public and private sectors, new debates on the future of energy markets and electricity generation have emerged around the world. The Second Edition of Managing Energy Risk has been updated to reflect the latest products, approaches, and energy market evolution. A full 30% of the content accounts for changes that have occurred since the publication of the first edition. Practitioners will appreciate this contemporary approach to energy and the comprehensive information on recent market influences. A new chapter is devoted to the growing importance of renewable energy sources, related subsidy schemes and their impact on energy markets. Carbon emissions certificates, post-Fukushima market shifts, and improvements in renewable energy generation are all included. Further, due to the unprecedented growth in shale gas production in recent years, a significant amount of material on gas markets has been added in this edition. Managing Energy Risk is now a complete guide to both gas and electricity markets, and gas-specific models like gas storage and swing contracts are given their due. The unique, practical approach to energy trading includes a comprehensive explanation of the interactions and relations between all energy commodities. Thoroughly revised to reflect recent changes in renewable energy, impacts of the financial crisis, and market fluctuations in the wake of Fukushima Emphasizes both electricity and gas, with all-new gas valuation models and a thorough description of the gas market Written by a team of authors with theoretical and practical expertise, blending mathematical finance and technical optimization Covers developments in the European Union Emissions Trading Scheme, as well as coal, oil, natural gas, and renewables The latest developments in gas and power markets have demonstrated the growing importance of energy risk management for utility companies and energy intensive industry. By combining energy economics models and financial engineering, Managing Energy Risk delivers a balanced perspective that captures the nuances in the exciting world of energy.

Robust Optimal Planning and Operation of Electrical Energy Systems

Behnam Mohammadi-ivatloo,Morteza Nazari-Heris
Robust Optimal Planning and Operation of Electrical Energy Systems Book PDF

Author : Behnam Mohammadi-ivatloo,Morteza Nazari-Heris
Publisher : Springer
Page : 315 pages
File Size : 47,9 Mb
Release : 2019-02-06
Category : Technology & Engineering
ISBN : 9783030042967

Get Book

Robust Optimal Planning and Operation of Electrical Energy Systems by Behnam Mohammadi-ivatloo,Morteza Nazari-Heris Pdf

This book discusses the recent developments in robust optimization (RO) and information gap design theory (IGDT) methods and their application for the optimal planning and operation of electric energy systems. Chapters cover both theoretical background and applications to address common uncertainty factors such as load variation, power market price, and power generation of renewable energy sources. Case studies with real-world applications are included to help undergraduate and graduate students, researchers and engineers solve robust power and energy optimization problems and provide effective and promising solutions for the robust planning and operation of electric energy systems.

Classical and Recent Aspects of Power System Optimization

Ahmed F. F. Zobaa,Shady H.E Abdel Aleem,Almoataz Youssef Abdelaziz
Classical and Recent Aspects of Power System Optimization Book PDF

Author : Ahmed F. F. Zobaa,Shady H.E Abdel Aleem,Almoataz Youssef Abdelaziz
Publisher : Academic Press
Page : 586 pages
File Size : 52,6 Mb
Release : 2018-06-29
Category : Technology & Engineering
ISBN : 9780128124420

Get Book

Classical and Recent Aspects of Power System Optimization by Ahmed F. F. Zobaa,Shady H.E Abdel Aleem,Almoataz Youssef Abdelaziz Pdf

Classical and Recent Aspects of Power System Optimization presents conventional and meta-heuristic optimization methods and algorithms for power system studies. The classic aspects of optimization in power systems, such as optimal power flow, economic dispatch, unit commitment and power quality optimization are covered, as are issues relating to distributed generation sizing, allocation problems, scheduling of renewable resources, energy storage, power reserve based problems, efficient use of smart grid capabilities, and protection studies in modern power systems. The book brings together innovative research outcomes, programs, algorithms and approaches that consolidate the present state and future challenges for power. Analyzes and compares several aspects of optimization for power systems which has never been addressed in one reference Details real-life industry application examples for each chapter (e.g. energy storage and power reserve problems) Provides practical training on theoretical developments and application of advanced methods for optimum electrical energy for realistic engineering problems

Mathematical Modelling of Contemporary Electricity Markets

Athanasios Dagoumas
Mathematical Modelling of Contemporary Electricity Markets Book PDF

Author : Athanasios Dagoumas
Publisher : Academic Press
Page : 444 pages
File Size : 40,8 Mb
Release : 2021-01-30
Category : Business & Economics
ISBN : 9780128218396

Get Book

Mathematical Modelling of Contemporary Electricity Markets by Athanasios Dagoumas Pdf

Mathematical Modelling of Contemporary Electricity Markets reviews major methodologies and tools to accurately analyze and forecast contemporary electricity markets in a ways that is ideal for practitioner and academic audiences. Approaches include optimization, neural networks, genetic algorithms, co-optimization, econometrics, E3 models and energy system models. The work examines how new challenges affect power market modeling, including discussions of stochastic renewables, price volatility, dynamic participation of demand, integration of storage and electric vehicles, interdependence with other commodity markets and the evolution of policy developments (market coupling processes, security of supply). Coverage addresses all major forms of electricity markets: day-ahead, forward, intraday, balancing, and capacity. Provides a diverse body of established techniques suitable for modeling any major aspect of electricity markets Familiarizes energy experts with the quantitative skills needed in competitive electricity markets Reviews market risk for energy investment decisions by stressing the multi-dimensionality of electricity markets

Applied Operations Research and Financial Modelling in Energy

André B. Dorsman,Kazim Baris Atici,Aydin Ulucan,Mehmet Baha Karan
Applied Operations Research and Financial Modelling in Energy Book PDF

Author : André B. Dorsman,Kazim Baris Atici,Aydin Ulucan,Mehmet Baha Karan
Publisher : Springer Nature
Page : 283 pages
File Size : 48,9 Mb
Release : 2021-10-12
Category : Business & Economics
ISBN : 9783030849818

Get Book

Applied Operations Research and Financial Modelling in Energy by André B. Dorsman,Kazim Baris Atici,Aydin Ulucan,Mehmet Baha Karan Pdf

This book on Applied Operations Research and Financial Modelling in Energy (AORFME) presents several applications of operations research (OR) and financial modelling. The contributions by a group of OR and Finance researchers focus on a variety of energy decisions, presenting a quantitative perspective, and providing policy implications of the proposed or applied methodologies. The content is divided into three main parts: Applied OR I: Optimization Approaches, Applied OR II: Forecasting Approaches and Financial Modelling: Impacts of Energy Policies and Developments in Energy Markets. The book appeals to scholars in economics, finance and operations research, and to practitioners working in the energy sector. This is the eighth volume in a series of books on energy organized by the Centre for Energy and Value Issues (CEVI). For this volume, CEVI collaborated with Hacettepe University’s Energy Markets Research and Application Center. The previous volumes in the series are: Financial Aspects in Energy (2011), Energy Economics and Financial Markets (2012), Perspectives on Energy Risk (2014), Energy Technology and Valuation Issues (2015), Energy and Finance (2016), Energy Economy, Finance and Geostrategy (2018), and Financial Implications of Regulations in the Energy Industry (2020).

Optimal Operation of Integrated Energy Systems Under Uncertainties

Bo Yang,Zhaojian Wang,Xinping Guan
Optimal Operation of Integrated Energy Systems Under Uncertainties Book PDF

Author : Bo Yang,Zhaojian Wang,Xinping Guan
Publisher : Elsevier
Page : 252 pages
File Size : 51,6 Mb
Release : 2023-09-20
Category : Business & Economics
ISBN : 9780443141232

Get Book

Optimal Operation of Integrated Energy Systems Under Uncertainties by Bo Yang,Zhaojian Wang,Xinping Guan Pdf

Optimal Operation of Integrated Energy Systems Under Uncertainties: Distributionally Robust and Stochastic Models discusses new solutions to the rapidly emerging concerns surrounding energy usage and environmental deterioration. Integrated energy systems (IESs) are acknowledged to be a promising approach to increasing the efficiency of energy utilization by exploiting complementary (alternative) energy sources and storages. IESs show favorable performance for improving the penetration of renewable energy sources (RESs) and accelerating low-carbon transition. However, as more renewables penetrate the energy system, their highly uncertain characteristics challenge the system, with significant impacts on safety and economic issues. To this end, this book provides systematic methods to address the aggravating uncertainties in IESs from two aspects: distributionally robust optimization and online operation. Presents energy scheduling, considering power, gas, and carbon markets concurrently based on distributionally robust optimization methods Helps readers design day-ahead scheduling schemes, considering both decision-dependent uncertainties and decision-independent uncertainties for IES Covers online scheduling and energy auctions by stochastic optimization methods Includes analytic results given to measure the performance gap between real performance and ideal performance