in this paper, we present a new method to determine the optimal location and parameter settings of unifiedpower flow controller (upfc) for removing voltage violations and transmission lines overloading. upfc isconsidered as the most powerful member of the facts devices, that it can control shunt and series power flow.this option gives to upfc the power to control the voltage profile and transmi...

different areas of modern financial tools and processes activities contain the matters like innovations in financial tools engineering and risk management. derivatives and especially stock exchange option is part of this innovation. among all numerical procedures in calculating the value of derivatives and the risk sensitivity parameters of option, binomial models are widely used. in this stud...

Recently, there has been a growing interest in the production of electricity from renewable energy sources (RES). The RES investment is characterized by uncertainty, which is long-term, costly, depend on feed-in-tariff and support schemes. In this paper, we address the real option valuation (ROV) of a solar power plant investment. The real option framework is investigated. This framework consid...

We call markets in which intermediaries sell networks of suppliers to consumers who are uncertain about their needs "option demand markets." In these markets, suppliers may grant the intermediaries discounts in order to be admitted to their networks. We derive a measure of each supplier's market power within the network; the measure is based on the additional ex ante expected utility consumers ...

One of the significant strategies of the power systems is Economic Dispatch (ED) problem, which is defined as the optimal generation of power units to produce energy at the lowest cost by fulfilling the demand within several limits. The undeniable impacts of ramp rate limits, valve loading, prohibited operating zone, spinning reserve and multi-fuel option on the economic dispatch of practical p...

Electricity prices are known to be very volatile and subject to frequent jumps due to system breakdown, demand shocks, and inelastic supply. Appropriate pricing, portfolio, and risk management models should incorporate these spikes. We develop a framework to price European-style options that are consistent with the possibility of market spikes. The pricing framework is based on a regime jump mo...

The viability of a new generation of nuclear power plants, small modular reactors (SMR), has been studied as a possible way of meeting Alaska’s energy needs in the near to intermediate future. However, in order to understand whether SMRs present a viable option for Alaska, a thorough understanding of the technical, permitting, environmental and economic constraints is required. The intent of th...