Strategic planning in the electricity supply industry is a complex task due to the multiple and often conflicting objectives of the decision makers, as well as the inherent technical and valuation uncertainties involved. As such, a transparent decision support framework is needed, for guiding...

The variable electricity output of the RES (renewable energy sources) power plants, such as wind and hydropower, is an important challenge for the electricity system managers. This paper addresses the problem of an electricity system supported mainly on hydro, thermal, and wind power plants. A...