Stochastic Optimization in Energy Systems
With Practical Implementations in GAMS
Published on 7. September 2017
Book
Hardback
300 pages
978-3-8348-1607-8 (ISBN)
Description
This book provides an overview on stochastic optimization and its application in the Energy Industry. Special focus is given on hydro-thermal scheduling and, more generally, storage systems. The book begins by illuminating several approaches to deal with uncertainties (e.g., robust optimization, chance-constraints, stochastic optimization) and discusses their relations, advantages and disadvantages.
Special focus is given on GAMS coded examples and the usage of the GAMS software.
The book is very suitable for courses in business schools, system engineering, applied mathematics, operations research and energy producing industry.
Special focus is given on GAMS coded examples and the usage of the GAMS software.
The book is very suitable for courses in business schools, system engineering, applied mathematics, operations research and energy producing industry.
More details
Persons
Dr. Steffen Rebennack is Assistant Professor for Operations Research at the Colorado School of Mines in the Division of Economics & Business.
Prof. Dr. Josef Kallrath works at a world leading chemical company in Germany. He is professor at the University of Gainesville, Florida, and leader of the Real World Optimization Working Group of the German Operations Research Society.
Prof. Dr. Josef Kallrath works at a world leading chemical company in Germany. He is professor at the University of Gainesville, Florida, and leader of the Real World Optimization Working Group of the German Operations Research Society.
Content
Introduction: Examples in the energy industry - Deterministic vs. stochastic optimization - General Concepts: Structure of Uncertainty - Value of the Stochastic Solution (VSS) - Value of Perfect Information - Robust Optimization - Chance Constrained Programming - Modeling Approaches towards Uncertainty: Scenario Tree - Markov-Chains - Markov-Processes - Monte Carlo Sampling - Electricity Production: Centrally Dispatched Models - Deregulated electricity markets - Expansion Problems - Electricity Network: Operation - Expansion - Financial Markets - Natural Gas: LNG, LCG, LPG Transportation Problems - Pipeline Optimization - Gas Generation