Interval-Based Operations on Random Variables for Applications in ...

Electric Energy: Market Interaction and Market Power

Faculty: Gerald B Sheblé, Daniel Berleant; Graduate students: Jianzhong Zhang, Mei-Peng Cheong

• Technical background relevant to this work:
  • Six electric energy bidding papers
  • Decision analysis stuff including Stoft's book on Power System Economics
  • Envelopes around a CDF derived from samples - notes on Kolmogorov
  • Real options, decision analysis... (6/13/01)
  • Probability (part 1 and part 2)
  • Interval Mathematics and P-bounds
  • Linear Programming
  • Convolution
  • Decision making
  • Monte Carlo simulation and its limitations
  • Correlation
  • Transportation simplex method
  • Presentations from IEEE PES Winter Meeting 2001
  • Glossary of power terms ; local glossary
  • Web sites related to financial engineering
• Helpful Resources
  • Bayes network and agent based resources (from Mei 9/04)
  • CompEcon Matlab toolbox (from Mei 5/14/04)
• Genetic Programming
  • 11/03: report on genetic programming for decision analysis (M.-P. Cheong)
  • Li and Tsang 1999; http://cswww.essex.ac.uk/CSP/finance/papers/LiTsa-Improve-FLAIRS99.pdf;
  • http://cswww.essex.ac.uk/CSP/finance/papers/LiTsa-C45-Cec99.pdf
• Papers with useful background information
  • RelevantPapers/BAT-IEE.htm, Battery Stored Energy Control for Price-based Operation,  Ng & Sheblé
  • RelevantPapers/DLC-NAP.htm, DIRECT LOAD CONTROL - A COST-BASED LOAD MANAGEMENT USING LINEAR PROGRAMMING , Ng & Sheblé
  • Esco-paper1.htm, Economics of load management programs: Preparing for deregulation, Ng & Sheblé
  • RelevantPapers/Esco-paper2.htm, Serving Customer Energy Services using Contracts and Load Management Programs, Ng & Sheblé
  • RelevantPapers/Esco-paper3.htm, Managing the Uncertainties of Serving Customer Energy Services in a Deregulated Power Industry, Sheblé & Ng
  • RelevantPapers/ExploringRiskManagementTools.htm, Exploring Risk Management Tools, Ng & Sheblé
  • RelevantPapers/IEE_inv.htm, Economic Lessons from the market evolution of present US Power Markets, Ng & Sheblé
• Our current investigations
  • Report for EPRC/PAR 41st Annual Meeting
  • Correlation constraint compatible simplex algorithm
  • Decision analysis given measurements of unknown dependency
  • Decision analysis trees under unknown correlation
  • On completion times of concurrent tasks
  • An economic dispatch model (and part II)
    • Memo on correlation in fuel price
  • Extension of Statool to cascading operations
  • Notes on some cases in which excess width can occur
  • A production cost model
  • Production cost models II
  • Production cost model with correlation
    • Simplified production cost model
  • Generator unit characteristics
  •     Production cost graphs
  • A power price model
• Project descriptions
  • Jianzhong's local research group presentation on Statool
  • pages for poster at IAB meeting 12/01
  • pages for poster at IAB meeting 6/01
  • pages for poster at meeting 12/00
  • Current Status 10/00
  • Project status 6/02