- Alfred Kalliauer, VERBUND PowerTrading, Vienna
Stochastic Models for Optimization of Electric Power Systems
proposed Minisymposium should be dedicated to compare the basically
different methodological approaches for operation optimization of
electric power systems in view of their practical capability of
stochastic parameters such as inflows and especially stochastic market
prices on power and fuel (e.g. gas).
It will provide a platform for
Applied Mathematicians, software developers and experts in the field of
mathematical modeling of power systems consisting of hydro or gas
storages, and power and fuel contracts.
The aim should be to discuss
different models in view of their practicability to represent the main
effects of real world systems in enough detail and on the other hand to
be aggregated and compact enough to be solved in reasonable computer
time. Such tasks usually yield large-scale optimization problems, where
compromises on the model have to be made.
The problems to be
presented may include (but are not limited to) such as fuel stock
management, hydro storage operation planning, network-flow
optimization, as well as pricing of interrelated American options.