We present a novel hybrid method, swarm intelligence based sample average approximation (SIBSAA), for solving the capacitated reliable facility location problem (CRFLP). The CRFLP extends the well-known capacitated fixed-cost facility problem by accounting for the unreliability of facilities....

In this paper, parallel processing techniques are employed to improve the performance of the stochastic dynamic programming applied to the long term operation planning of electrical power system. The hydroelectric plants are grouped into energy equivalent reservoirs and the expected cost...

A virtual power plant aggregates various local production/consumption units that act in the market as a single entity. This paper considers a virtual power plant consisting of an intermittent source, a storage facility, and a dispatchable power plant. The virtual power plant sells and purchases...

The present paper proposes a mathematical model and a solution approach to the Stochastic Capacity Planning and Dynamic Network Design Problem. Here, strategic decisions usually comprise developing the necessary capacity — through either incrementing capacity on existing assets (facilities or...