Abstract The long-term Generation Expansion Planning (GEP) problem determines the
optimal type of energy technologies, size, location, and time construction of new power …

The electric power industry is undergoing dramatic change driven by rapid technological
transformation, concern over climate change, and evolving market structures. As a result …

Liberalized power markets are characterized by a missing market problem: a limited
availability of long-term contracts leaves risk-averse investors exposed to uninsured risk. We …

We present a computationally-efficient optimization model that finds the least-cost
generation unit expansion, commitment, and dispatch plan to serve hourly electricity …

Ever since the beginning of the liberalization process of the energy sector and the arrival of
electricity markets, decision making has gone away from centralized planners and has …

The renewable power consumption guarantee mechanism aims to promote local
consumption of renewable power through power trading in the inter-provincial market and …

Policy makers are tasked with selecting, designing, and implementing policies to support the
transition to a sustainable power system. As part of the task, they often turn to models to …

In this paper, we develop a long-term capacity expansion analysis model that considers
strategic bidding behavior by dominant generation companies together with new entry …

This paper offers novel analytical solutions for evaluating perpetual caps and floors on
continuous flows under the constant elasticity of variance (CEV) model. We demonstrate that …

The interplay between risk aversion and financial derivatives has received increasing
attention since the advent of electricity market liberalization. One important challenge in this …