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Power Market and Power System Economics

World-wide unprecedented reform and restructuring of the electric power industry has imposed tremendous challenges on the operation of power systems under this new environment. The group has a record of international excellence in research and development of advanced computational tools for efficiently operating market-oriented power systems. Recent research covers all the major operational issues, such as scheduling and dispatch, congestion management, transactive energy systems, available transfer capability calculation, price forecasting and optimal bidding strategies. Advanced optimization techniques including genetic algorithms, ant colony search and particle swarm methods have been successfully applied.