Practitioners in the electricity industry aim to assess the value of power plants or other real options several months or even years ahead of operation. Such a valuation is notably required for hedging purposes. The revenue streams to be earned in the spot market are thereby already secured on...

This thesis studies two related topics in liner shipping. The first topic is the contract pricing problem for container carriers. The second part studies the interaction of the longer term contracts and the spot markets/exchanges for the same goods/services.Most containerized freight is...

We develop a stochastic optimization model for scheduling a hybrid solar-battery storage system. Solar power in excess of the promise can be used to charge the battery, while power short of the promise is met by discharging the battery. We ensure reliable operations by using a joint chance...

Investments in power generation assets are multi-year projects with high costs and multi-decade lifetimes. Since market circumstances can significantly change over time, investments into such assets are risky and require structured decision-support systems. Investment decisions and dispatch in...

We introduce a novel chance-constrained stochastic unit commitment model to address uncertainty in renewables’ production in operations of power systems. For most thermal generators, underlying technical constraints that are universally treated as “hard” by deterministic unit commitment...

We extend and improve recent results given by Singh and Watson on using classical bounds on the union of sets in a chance-constrained optimization problem. Specifically, we revisit the so-called Dawson and Sankoff bound that provided one of the best approximations of a chance constraint in the...