This study addresses a new generation of adaptable intelligent control systems for energy management. The proposed approach consists of a high-level predictive control system based on advanced simulation and optimization algorithms which interact with conventional machine-level controllers of...

When the volatility process is driven by fractional noise one obtains a model which is consistent with the empirical market data. Depending on whether the stochasticity generators of log-price and volatility are independent or are the same, two versions of the model are obtained with different...