Mathematical Modelling of Contemporary Electricity Markets

Mathematical Modelling of Contemporary Electricity Markets
Author: Athanasios Dagoumas
Publsiher: Academic Press
Total Pages: 442
Release: 2021-02-12
ISBN 10: 012821838X
ISBN 13: 9780128218389
Language: EN, FR, DE, ES & NL

Mathematical Modelling of Contemporary Electricity Markets Book Review:

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

Mathematical Modelling of Contemporary Electricity Markets

Mathematical Modelling of Contemporary Electricity Markets
Author: Athanasios Dagoumas
Publsiher: Academic Press
Total Pages: 442
Release: 2021-01-30
ISBN 10: 0128218398
ISBN 13: 9780128218396
Language: EN, FR, DE, ES & NL

Mathematical Modelling of Contemporary Electricity Markets Book Review:

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

Optimizing the Economic Efficiency of Wholesale Electricity Markets

Optimizing the Economic Efficiency of Wholesale Electricity Markets
Author: Anonim
Publsiher: Unknown
Total Pages: 210
Release: 2014
ISBN 10: 1928374650XXX
ISBN 13: OCLC:898189615
Language: EN, FR, DE, ES & NL

Optimizing the Economic Efficiency of Wholesale Electricity Markets Book Review:

This dissertation contributes design ideas and solution methodology to several policy and operational issues within the contemporary wholesale electricity markets in the United States. Mathematical programming, hierarchical optimization modeling and parallel computing techniques constitute its methodological basis. Chapter 2 interprets demand response as a trade of consuming rights among customers and provides a bi-level optimization model to simultaneously clear the energy and demand response markets. As an efficient implementation of FERC Order 745, a three-phase solution method involving joint use of nonlinear and mixed integer solvers as well as a bound-tightening technique is proposed for large-scale instances. Chapter 3 analyzes the efficiency and equity issues of the uniform-price payment rule in bulk power markets, and justifies based on linear programming duality a pay-as-bid rule in the context of unit commitment. The effectiveness of this payment rule is validated via a simulation of market participants' bidding behaviors in a realistic setting. Chapter 4 proposes a general bidding structure that clears obstacles for efficient demand-side participation. The structure promotes new bid types that allow deferrable, adjustable and storage-type loads to better express their value. These bid types are shown to be easily incorporated into the existing market and to preserve the efficiency and incentive-compatibility properties of the market. Chapter 5 provides a Derand sampling method to approximate load forecast errors in a stochastic unit commitment model. Using only a few high-quality scenarios, Derand outperforms its deterministic counterpart and other conventional scenario reduction techniques by a significant margin. Chapter 6 models a multi-stage security-constrained economic dispatch (SCED) problem. A series of algorithmic enhancements based on the Benders' decomposition and parallel computing are implemented to ameliorate the computational difficulty. The approach is able to process the N-1 contingency list in ten minutes for all large network cases available for experiments. Chapter 7 proposes a novel solution approach for the SCED problem in a nonlinear AC setting. The approach approximates the nonconvex AC feasibility problem with its semidefinite programming (SDP) relaxation and uses the SDP model as a convex subproblem within a Benders' decomposition framework. Numerical experiments demonstrate the superior solution quality of the approach.

Mathematical Modeling Simulation and Optimization for Power Engineering and Management

Mathematical Modeling  Simulation and Optimization for Power Engineering and Management
Author: Simone Göttlich,Michael Herty,Anja Milde
Publsiher: Springer Nature
Total Pages: 325
Release: 2021
ISBN 10: 3030627322
ISBN 13: 9783030627324
Language: EN, FR, DE, ES & NL

Mathematical Modeling Simulation and Optimization for Power Engineering and Management Book Review:

This edited monograph offers a summary of future mathematical methods supporting the recent energy sector transformation. It collects current contributions on innovative methods and algorithms. Advances in mathematical techniques and scientific computing methods are presented centering around economic aspects, technical realization and large-scale networks. Over twenty authors focus on the mathematical modeling of such future systems with careful analysis of desired properties and arising scales. Numerical investigations include efficient methods for the simulation of possibly large-scale interconnected energy systems and modern techniques for optimization purposes to guarantee stable and reliable future operations. The target audience comprises research scientists, researchers in the R&D field, and practitioners. Since the book highlights possible future research directions, graduate students in the field of mathematical modeling or electrical engineering may also benefit strongly. .

The Economics of Electricity Markets

The Economics of Electricity Markets
Author: Darryl R. Biggar,Mohammad Reza Hesamzadeh
Publsiher: John Wiley & Sons
Total Pages: 432
Release: 2014-07-10
ISBN 10: 1118775724
ISBN 13: 9781118775721
Language: EN, FR, DE, ES & NL

The Economics of Electricity Markets Book Review:

Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concerns. The book covers the basic modelling of electricity markets, including the impact of uncertainty (an integral part of generation investment decisions and transmission cost-benefit analysis). It draws out the parallels to the Nordpool market (an important point of reference for Europe). Written from the perspective of the policy-maker, the first part provides the introductory background knowledge required. This includes an understanding of basic economics concepts such as supply and demand, monopoly, market power and marginal cost. The second part of the book asks how a set of generation, load, and transmission resources should be efficiently operated, and the third part focuses on the generation investment decision. Part 4 addresses the question of the management of risk and Part 5 discusses the question of market power. Any power system must be operated at all times in a manner which can accommodate the next potential contingency. This demands responses by generators and loads on a very short timeframe. Part 6 of the book addresses the question of dispatch in the very short run, introducing the distinction between preventive and corrective actions and why preventive actions are sometimes required. The seventh part deals with pricing issues that arise under a regionally-priced market, such as the Australian NEM. This section introduces the notion of regions and interconnectors and how to formulate constraints for the correct pricing outcomes (the issue of "constraint orientation"). Part 8 addresses the fundamental and difficult issue of efficient transmission investment, and finally Part 9 covers issues that arise in the retail market. Bridges the gap between engineering and economics in electricity, covering both the economics and engineering knowledge needed to accurately understand, plan and develop the electricity market Comprehensive coverage of all the key topics in the economics of electricity markets Covers the latest research and policy issues as well as description of the fundamental concepts and principles that can be applied across all markets globally Numerous worked examples and end-of-chapter problems Companion website holding solutions to problems set out in the book, also the relevant simulation (GAMS) codes

Models in Contemporary Sciences

Models in Contemporary Sciences
Author: Massimo Negrotti
Publsiher: Peter Lang
Total Pages: 379
Release: 2004
ISBN 10: 9783039101245
ISBN 13: 3039101242
Language: EN, FR, DE, ES & NL

Models in Contemporary Sciences Book Review:

Models and theories are tools for scientific and technological investigations and projects. The relationship between theories and models is very complex. Models have become increasingly popular in our time, maybe due to the growing number of disciplines that try to understand, simulate or even reproduce very complex phenomena such as life, intelligence, organisms, brain processes, and social or economical systems. The papers in this book deal with methodological and application problems which arise when models are compared to theories, or when theories are used to build models.

Energy Abstracts for Policy Analysis

Energy Abstracts for Policy Analysis
Author: Anonim
Publsiher: Unknown
Total Pages: 135
Release: 1983
ISBN 10: 1928374650XXX
ISBN 13: UOM:39015026720204
Language: EN, FR, DE, ES & NL

Energy Abstracts for Policy Analysis Book Review:

Commodity Option Pricing

Commodity Option Pricing
Author: Iain J. Clark
Publsiher: John Wiley & Sons
Total Pages: 344
Release: 2014-04-21
ISBN 10: 1119944511
ISBN 13: 9781119944515
Language: EN, FR, DE, ES & NL

Commodity Option Pricing Book Review:

Commodity Option Pricing: A Practitioner’s Guide covers commodity option pricing for quantitative analysts, traders or structurers in banks, hedge funds and commodity trading companies. Based on the author’s industry experience with commodity derivatives, this book provides a thorough and mathematical introduction to the various market conventions and models used in commodity option pricing. It introduces the various derivative products typically traded for commodities and describes how these models can be calibrated and used for pricing and risk management. The book has been developed with input from traders and examples using real world data, together with relevant up to date academic research. The book includes practical descriptions of market conventions and quote codes used in commodity markets alongside typical products seen in broker quotes and used in calibration. Also discussed are commodity models and their mathematical derivation and volatility surface modelling for traded commodity derivatives. Gold, silver and other precious metals are addressed, including gold forward and gold lease rates, as well as copper, aluminium and other base metals, crude oil and natural gas, refined energy and electricity. There are also sections on the products encountered in commodities such as crack spread and spark spread options and alternative commodities such as carbon emissions, weather derivatives, bandwidth and telecommunications trading, plastics and freight. Commodity Option Pricing is ideal for anyone working in commodities or aiming to make the transition into the area, as well as academics needing to familiarize themselves with the industry conventions of the commodity markets.

New Visions of Community in Contemporary American Fiction

New Visions of Community in Contemporary American Fiction
Author: Magali Cornier Michael
Publsiher: University of Iowa Press
Total Pages: 256
Release: 2008-04-01
ISBN 10: 1587297396
ISBN 13: 9781587297397
Language: EN, FR, DE, ES & NL

New Visions of Community in Contemporary American Fiction Book Review:

In this engaging, optimistic close reading of five late twentieth-century novels by American women, Magali Cornier Michael illuminates the ways in which their authors engage with ideas of communal activism, common commitment, and social transformation. The fictions she examines imagine coalition building as a means of moving toward new forms of nonhierarchical justice; for ethnic cultures that, as a result of racist attitudes, have not been assimilated, power with each other rather than power over each other is a collective goal.Michael argues that much contemporary American fiction by women offers models of care and nurturing that move away from the private sphere toward the public and political. Specifically, texts by women from such racially marked ethnic groups as African American, Asian American, Native American, and Mexican American draw from the rich systems of thought, histories, and experiences of these hybrid cultures and thus offer feminist and ethical revisions of traditional concepts of community, coalition, subjectivity, and agency.Focusing on Amy Tan’s The Joy Luck Club, Barbara Kingsolver’s The Bean Trees and Pigs in Heaven, Ana Castillo’s So Far from God, and Toni Morrison’s Paradise, Michael shows that each writer emphasizes the positive, liberating effects of kinship and community. These hybrid versions of community, which draw from other-than-dominant culturally specific ideas and histories, have something to offer Americans as the United States moves into an increasingly diverse twenty-first century. Michael provides a rich lens through which to view both contemporary fiction and contemporary life.

Market State and Society in Contemporary Latin America

Market  State  and Society in Contemporary Latin America
Author: William C. Smith
Publsiher: John Wiley & Sons
Total Pages: 367
Release: 2010-02-22
ISBN 10: 1444335251
ISBN 13: 9781444335255
Language: EN, FR, DE, ES & NL

Market State and Society in Contemporary Latin America Book Review:

"Market, State, and Society in Contemporary Latin America" explores fundamental issues in the political economy of the region in the early twenty-first century. The chapters in this volume deploy a variety of theoretical and methodological perspectives to understand the recent transformations in relations among market, state, and society in Latin American countries. Based on careful empirical research, the contributors go beyond popular state-centric explanations of economic policy-making in the region, emphasizing the centrality of state-society bargaining in the design and implementation of market-oriented restructuring. By the same token, the chapters in "Market, State and Society" also challenge simplistic argument about state decline, demonstrating the crucial role of differing configurations of domestic actors, interests and institutions in mediating the effects of globalization on welfare regimes, labor politics, and popular contestation.

On the Political Economy of Market Socialism

On the Political Economy of Market Socialism
Author: James A. Yunker
Publsiher: Routledge
Total Pages: 466
Release: 2018-05-08
ISBN 10: 1351775391
ISBN 13: 9781351775397
Language: EN, FR, DE, ES & NL

On the Political Economy of Market Socialism Book Review:

This title was first published in 2001. Spanning a quarter of a century, this collection makes conveniently accessible 14 of Yunker’s thorough and highly illuminating contributions to the literature on market socialism.

Mathematical Models in Economics Volume I

Mathematical Models in Economics   Volume I
Author: Wei-Bin Zhang
Publsiher: EOLSS Publications
Total Pages: 520
Release: 2009-06-10
ISBN 10: 1848262280
ISBN 13: 9781848262287
Language: EN, FR, DE, ES & NL

Mathematical Models in Economics Volume I Book Review:

Mathematical Models in Economics is a component of Encyclopedia of Mathematical Sciences in which is part of the global Encyclopedia of Life Support Systems (EOLSS), an integrated compendium of twenty one Encyclopedias. This theme is organized into several different topics and introduces the applications of mathematics to economics. Mathematical economics has experienced rapid growth, generating many new academic fields associated with the development of mathematical theory and computer. Mathematics is the backbone of modern economics. It plays a basic role in creating ideas, constructing new theories, and empirically testing ideas and theories. Mathematics is now an integral part of economics. The main advances in modern economics are characterized by applying mathematics to various economic problems. Many of today's profound insights into economic problems could hardly be obtained without the help of mathematics. The concepts of equilibrium versus non-equilibrium, stability versus instability, and steady states versus chaos in the contemporary literature are difficult to explain without mathematics. The theme discusses on modern versions of some classical economic theories, taking account of balancing between significance of economic issues and mathematical techniques. These two volumes are aimed at the following five major target audiences: University and College students Educators, Professional practitioners, Research personnel and Policy analysts, managers, and decision makers and NGOs.

Applied Operations Research and Financial Modelling in Energy

Applied Operations Research and Financial Modelling in Energy
Author: André B. Dorsman
Publsiher: Springer Nature
Total Pages: 135
Release: 2022
ISBN 10: 3030849813
ISBN 13: 9783030849818
Language: EN, FR, DE, ES & NL

Applied Operations Research and Financial Modelling in Energy Book Review:

A Course in Mathematical Modeling

A Course in Mathematical Modeling
Author: Douglas D. Mooney,Randall J. Swift
Publsiher: American Mathematical Soc.
Total Pages: 431
Release: 1999-12-31
ISBN 10: 088385712X
ISBN 13: 9780883857120
Language: EN, FR, DE, ES & NL

A Course in Mathematical Modeling Book Review:

The emphasis of this book lies in the teaching of mathematical modeling rather than simply presenting models. To this end the book starts with the simple discrete exponential growth model as a building block, and successively refines it. This involves adding variable growth rates, multiple variables, fitting growth rates to data, including random elements, testing exactness of fit, using computer simulations and moving to a continuous setting. No advanced knowledge is assumed of the reader, making this book suitable for elementary modeling courses. The book can also be used to supplement courses in linear algebra, differential equations, probability theory and statistics.

Industry and Work in Contemporary Capitalism

Industry and Work in Contemporary Capitalism
Author: Victoria Goddard,Susana Narotzky
Publsiher: Routledge
Total Pages: 210
Release: 2015-01-30
ISBN 10: 1317745221
ISBN 13: 9781317745228
Language: EN, FR, DE, ES & NL

Industry and Work in Contemporary Capitalism Book Review:

Throughout history and in every geographical location, the rise and fall of industry, which impact the fate of large populations, are tied to the development and cultural entanglement of particular models that are articulated with political power. Models are understood as knowledge devices – expert, theoretical, practical and commonsense – that are embedded in cultural and social environments and designed through struggles at various scales. This book results from the collaboration of an interdisciplinary team bringing together specialists in anthropology, geography, sociology, economics, political science, mathematics and engineering around the theme of ‘Models and their Effects on Development Paths’. Based on empirical research conducted on the heavy industries, Industry and Work in Contemporary Capitalism addresses how models that inform the organization of work and production and are created by powerful actors may diverge from, overlap with, or contradict the models articulated by less powerful actors on the ground, and how they are connected across material and cultural spaces. Careful observation of industrial work and production as they unfold in and across specific localities and affects people’s livelihoods is complemented by analysis of how models circulate, through which channels of power, which institutional entities, which political connections. This volume explores an extensive theoretical terrain and a number of empirical cases that show, from different perspectives, how ideas about the economy, about work and industry, materialize in specific practices and interventions that affect people’s livelihoods.

Modeling Economic Growth in Contemporary Russia

Modeling Economic Growth in Contemporary Russia
Author: Bruno S. Sergi
Publsiher: Emerald Group Publishing
Total Pages: 328
Release: 2019-05-23
ISBN 10: 1789732670
ISBN 13: 9781789732672
Language: EN, FR, DE, ES & NL

Modeling Economic Growth in Contemporary Russia Book Review:

Russia is one of the world's largest growing economies. With this exciting new growth and development, there is a wealth of knowledge to be discovered from the strategies and models being used and created throughout Russia's economy.

Mathematical Modeling of Food Processing

Mathematical Modeling of Food Processing
Author: Mohammed M. Farid
Publsiher: CRC Press
Total Pages: 999
Release: 2010-05-21
ISBN 10: 142005354X
ISBN 13: 9781420053548
Language: EN, FR, DE, ES & NL

Mathematical Modeling of Food Processing Book Review:

Written by international experts from industry, research centers, and academia, Mathematical Modeling of Food Processing discusses the physical and mathematical analysis of transport phenomena associated with food processing. The models presented describe many of the important physical and biological transformations that occur in food during proces

Asset Intelligence through Integration and Interoperability and Contemporary Vibration Engineering Technologies

Asset Intelligence through Integration and Interoperability and Contemporary Vibration Engineering Technologies
Author: Joseph Mathew,C.W. Lim,Lin Ma,Don Sands,Michael E. Cholette,Pietro Borghesani
Publsiher: Springer
Total Pages: 784
Release: 2018-11-11
ISBN 10: 3319957112
ISBN 13: 9783319957111
Language: EN, FR, DE, ES & NL

Asset Intelligence through Integration and Interoperability and Contemporary Vibration Engineering Technologies Book Review:

These proceedings include a collection of papers on a range of topics presented at the 12th World Congress on Engineering Asset Management (WCEAM) in Brisbane, 2 – 4 August 2017. Effective strategies are required for managing complex engineering assets such as built environments, infrastructure, plants, equipment, hardware systems and components. Following the release of the ISO 5500x set of standards in 2014, the 12th WCEAM addressed important issues covering all aspects of engineering asset management across various sectors including health. The topics discussed by the congress delegates are grouped into a number of tracks, including strategies for investment and divestment of assets, operations and maintenance of assets, assessment of assets’ health conditions, risk and vulnerability, technologies, and systems for management of assets, standards, education, training and certification.

Corruption and Market in Contemporary China

Corruption and Market in Contemporary China
Author: Yan Sun
Publsiher: Cornell University Press
Total Pages: 272
Release: 2018-08-06
ISBN 10: 1501729985
ISBN 13: 9781501729980
Language: EN, FR, DE, ES & NL

Corruption and Market in Contemporary China Book Review:

Is corruption an inevitable part of the transition to a free-market economy? Yan Sun here examines the ways in which market reforms in the People's Republic of China have shaped corruption since 1978 and how corruption has in turn shaped those reforms. She suggests that recent corruption is largely a byproduct of post-Mao reforms, spurred by the economic incentives and structural opportunities in the emerging marketplace. Sun finds that the steady retreat of the state has both increased mechanisms for cadre misconduct and reduced disincentives against it. Chinese disciplinary offices, law enforcement agencies, and legal professionals compile and publish annual casebooks of economic crimes. The cases, processed in the Chinese penal system, represent offenders from party-state agencies at central and local levels as well as state firms of varying sizes and types of ownership. Sun uses these casebooks to illuminate the extent and forms of corruption in the People's Republic of China. Unintended and informal mechanisms arising from corruption may, she finds, take on a life of their own and undermine the central state's ability to implement its developmental policies, discipline its staff, enforce its regulatory infrastructure, and fundamentally transform the economy.

Managing Energy Risk

Managing Energy Risk
Author: Markus Burger,Bernhard Graeber,Gero Schindlmayr
Publsiher: John Wiley & Sons
Total Pages: 448
Release: 2014-09-09
ISBN 10: 1118618637
ISBN 13: 9781118618639
Language: EN, FR, DE, ES & NL

Managing Energy Risk Book Review:

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.