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  • © 2010

Decision Making Under Uncertainty in Electricity Markets

  • Addresses essentially all operational problems that arise in electricity markets
  • Applications encompass areas in applied mathematics and business, as well as electrical and energy engineering
  • Conejo is known worldwide and a leader in the field electricity markets

Part of the book series: International Series in Operations Research & Management Science (ISOR, volume 153)

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Table of contents (11 chapters)

  1. Front Matter

    Pages i-xvii
  2. Electricity Markets

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 1-26
  3. Stochastic Programming Fundamentals

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 27-62
  4. Uncertainty Characterization via Scenarios

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 63-119
  5. Risk management

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 121-156
  6. Producer Pool Trading

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 157-194
  7. Pool Trading for Wind Power Producers

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 195-251
  8. Futures Market Trading for Producers

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 253-285
  9. Medium-Term Retailer Trading

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 287-321
  10. Energy Procurement by Consumers

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 323-355
  11. Market Clearing Considering Equipment Failures

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 357-403
  12. Market Clearing under Uncertainty: Wind Energy

    • Antonio J. Conejo, Miguel Carrión, Juan M. Morales
    Pages 405-446
  13. Back Matter

    Pages 447-539

About this book

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.

Reviews

From the reviews:

“This book includes a number of stochastic programming models for optimal decision making under uncertainty in electricity markets. … Being adapted for both teaching and learning purposes, this book contains a lot of examples, the list of references includes 143 works.” (Vitali Oscarovich Groppen, Zentralblatt MATH, Vol. 1209, 2011)

Authors and Affiliations

  • ETSI Industriales, Universidad de Castilla - La Mancha, Ciudad Real, Spain

    Antonio J. Conejo, Juan M. Morales

  • , Department of Electrical Engineering, Universidad de Castilla - La Mancha, Toledo, Spain

    Miguel Carrión

About the authors

Antonio J. Conejo full professor at the Universidad de Castilla – La Mancha, Spain, received the M.S. from MIT and the Ph.D. from the Royal Institute of Technology, Sweden. He has published over 100 papers in prestigious journals and is the author or coauthor of books published by Springer, Wiley, McGraw-Hill and CRC. He has been the principal investigator of many research projects financed by public agencies and the power industry. He is an IEEE Fellow and a member of the editorial board of the IEEE Transactions on Power Systems. Miguel Carrión received the Ingeniero Industrial degree and the PhD degree from the Universidad de Castilla-La Mancha, Ciudad Real, Spain, in 2003 and 2008, respectively. He is currently an Assistant Professor at the Universidad de Castilla-La Mancha, Toledo, Spain. Juan M. Morales received the Ingeniero Industrial degree from the Universidad de Málaga, Spain, in 2006. He is currently working toward the Ph.D. degree at the Universidad de Castilla-La Mancha.

Bibliographic Information

Buy it now

Buying options

eBook USD 259.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 329.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 329.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access