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International Series in Operations Research & Management Science

Decision Making Under Uncertainty in Electricity Markets

Authors: Conejo, Antonio J., Carrión, Miguel, Morales, Juan M.

  • 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
  • Author is known worldwide as a leader in the field of electricity markets
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eBook $269.00
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  • ISBN 978-1-4419-7421-1
  • Digitally watermarked, DRM-free
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  • Immediate eBook download after purchase
Hardcover $339.00
price for USA
  • ISBN 978-1-4419-7420-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $339.00
price for USA
  • ISBN 978-1-4614-2678-3
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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.

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.

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)

Table of contents (11 chapters)

  • Electricity Markets

    Conejo, Antonio J. (et al.)

    Pages 1-26

  • Stochastic Programming Fundamentals

    Conejo, Antonio J. (et al.)

    Pages 27-62

  • Uncertainty Characterization via Scenarios

    Conejo, Antonio J. (et al.)

    Pages 63-119

  • Risk management

    Conejo, Antonio J. (et al.)

    Pages 121-156

  • Producer Pool Trading

    Conejo, Antonio J. (et al.)

    Pages 157-194

Buy this book

eBook $269.00
price for USA (gross)
  • ISBN 978-1-4419-7421-1
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $339.00
price for USA
  • ISBN 978-1-4419-7420-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $339.00
price for USA
  • ISBN 978-1-4614-2678-3
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Decision Making Under Uncertainty in Electricity Markets
Authors
Series Title
International Series in Operations Research & Management Science
Series Volume
153
Copyright
2010
Publisher
Springer US
Copyright Holder
Springer Science+Business Media, LLC
eBook ISBN
978-1-4419-7421-1
DOI
10.1007/978-1-4419-7421-1
Hardcover ISBN
978-1-4419-7420-4
Softcover ISBN
978-1-4614-2678-3
Series ISSN
0884-8289
Edition Number
1
Number of Pages
XVIII, 542
Topics