Optimal Decision Making in Electrical Systems Using an Asset Risk Management Framework

Asset Management Decision-making

Optimal Decision Making Framework of an Electric Vehicle Aggregator in Future and Pool markets

Electric vehicle (EV) aggregator, as an agent between the electricity market and EV owners, participates in the future and pool market to supply EVs’ requirement. Because of the uncertain nature of pool prices and EVs’ behaviour, this paper proposed a two-stage scenario-based model to obtain optimal decision making of an EV aggregator. To deal with mentioned uncertainties, the aggregator’s risk...

Risk management in urban tunnels using methods of game theory and multi-criteria decision-making

In general, underground spaces are associated with high risks because of their high uncertainty in geotechnical environments. Since most accidents and incidents in these structures are often associated with uncertainty, the development of risk analysis and management methods and prevention of accidents are essential. A deeper recognition of the factors affecting the implementation process can p...

An optimal control framework for action-based decision making

A soccer player moves the ball down the field, looking for an open teammate or a chance at the goal. To be effective, the attacker should maintain a set of possible actions, waiting to see which will become the best option. The soccer player faces a common control problem, where we must initiate an action plan, even when the final goal is partially unknown or changes unpredictably. To handle bo...

Stochastic Multiperiod Decision Making Framework of an Electricity Retailer Considering Aggregated Optimal Charging and Discharging of Electric Vehicles

This paper proposes a novel decision making framework for an electricity retailer to procure its electric demand in a bilateral-pool market in presence of charging and discharging of electric vehicles (EVs). The operational framework is a two-stage programming model in which at the first stage, the retailer and EV aggregator do their medium-term planning. Determination of retailer's optimum sel...