In this paper, we investigate the representation of wind power forecasting (WPF) uncertainty in the unit commitment (UC) problem. While deterministic approaches use a point forecast of wind power output, WPF uncertainty in the stochastic UC alternative is captured by a number of scenarios that...

In recent years, coal price has risen rapidly, which has also brought a sharp increase in the expenditures of thermal power plants in China. Meantime, the power production price and power retail price have not been adjusted accordingly and a large number of thermal power plants have incurred...

We develop a numerical scheme for determining the optimal asset allocation strategy for time-consistent, continuous time, mean variance optimization. Any type of constraint can be applied to the investment policy. The optimal policies for time-consistent and pre-commitment strategies are...

Advanced first-order second-moment (AFOSM) is commonly used to obtain an upper-bound estimate for a probabilistic analysis. This study presents a new AFOSM application to engineering seismology, estimating major earthquake probabilities based on fault length and slip rate, along with an...

Japan׳s Fukushima nuclear disaster, triggered by the March 11, 2011 earthquake, has led to calls for shutting down existing nuclear plants. To maintain resource adequacy for a grid׳s reliable operation, one option is to expand conventional generation, whose marginal unit is typically fueled by...

This review is motivated by our recognition that an adequate and reliable electricity supply is a critical element in economic growth. From a customer’s perspective, electricity has several distinct attributes: quality, reliability, time of use, consumption (kWh) volume, maximum demand (kW),...

Several recent studies have examined whether the main Chinese stock markets in Shanghai and Shenzhen are weak-form efficient. A consistent feature of the findings is that the pricing of foreign-owned B shares is more predictable than domestically-owned A shares. However, none of the earlier...