Energy markets are extremely competitive markets. Optimization of business decisions is fundamental for performance maximization. This book represents an excellent synthesis of optimization theory and practice applied to a wide and significant range of cutting-edge business problems characterizing power and natural gas markets.' - Domenico De Luca, CEO, Axpo Trading and Member of Executive Board Axpo Group ... Read more 'Optimization methods play an important role when making decisions and managing risk in today's liberalized energy markets. When planning a power plant or entering a structured gas contract, stochastic control is the key mathematical tool to assess the inherent risk. The authors of this book present an excellent account of the problems and methods for optimization in energy and power markets. The scope ranges from a rigorous theoretical analysis of the control problems, through numerical methods and to in-depth discussions of relevant practical case studies. This book is unique in providing a solid mathematical analysis of various optimization problems, yet never losing the market practice out of sight. It will be an invaluable reference for both academics and practitioners in power and gas markets.' - Fred Espen Benth, Professor of Mathematical Finance at the University of Oslo, Department of Mathematics and Deputy Manager Show Less