The liberalization of European natural gas markets forces market participants to base their decisions on market prices. For owners and operators of natural gas storage facilities it is therefore necessary to take market prices into account for their decisions. In this framework this paper...

This paper addresses the problem of managing flexible production capacity in a make-to-order (MTO) manufacturing environment. We present a multi-period capacity management model where we distinguish between process flexibility (the ability to produce multiple products on multiple production...

A deterministic energy supply model with bottom-up structure has limited capability in handling the uncertainties. To enhance the applicability of such a model in an uncertain environment two main issues have been investigated in the present paper. First, a binomial lattice is generated based on...

Over the next decade, large energy investments are required in the UK to meet growing energy service demands and legally binding emission targets under a pioneering policy agenda. These are necessary despite deep mid-term (2025–2030) uncertainties over which national policy makers have little...

The deregulation of electricity markets increases the financial risk faced by retailers who procure electric energy on the spot market to meet their customers’ electricity demand. To hedge against this exposure, retailers often hold a portfolio of electricity derivative contracts. In this...