Talk abstract:

Stochastic Programming Models and Equilibrium Conditions in Deregulated Power Markets

John R. Birge
Professor
Chair, Industrial and Operations Engineering
Chair, Financial Engineering Program
1205 Beal Ave.
University of Michigan
Ann Arbor, MI 48109-2117
jrbirge@umich.edu
http://www-personal.engin.umich.edu/~jrbirge

and

Chenowee Supatgiat
University of Michigan
Ann Arbor, MI 48109-2117

The talk will be presented by Chonawee Supatgiat.

Electric power markets are rapidly becoming deregulated, creating a need for new models of optimal bidding, generation, and financial strategies. We consider stochastic programming models of these decisions. We will discuss conditions for equilibrium solutions, decomposition-based solution techniques, and present some experience with the Colombian power market.

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