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...

The problem of optimally deploying urban search and rescue (USAR) teams to disaster sites in post-disaster circumstances is formulated as a multistage stochastic program (MSP). A portion of sites requiring assistance arrive dynamically over the decision horizon and key problem characteristics...

The stochastic pooling problem is a type of stochastic mixed-integer bilinear program arising in the integrated design and operation of various important industrial networks, such as gasoline blending, natural gas production and transportation, water treatment, etc. This paper presents a...