IFIP TC 7 / 2013 - Minisymposia
- Alfred Kalliauer, VERBUND PowerTrading, Vienna
Stochastic Models for Optimization of Electric Power Systems
The 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.
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