Why is optimisation important in the electricity sector?

Perhaps more than any other industry, the energy sector makes extensive use of the mathematical tool of optimisation. Oil refineries use optimisation to determine what combination of products to produce from different fractions of oil. In the gas industry, production facilities are constructed and designed using optimisation models.

Nowhere though is optimisation more pervasive than in the electricity sector. In the operational time frame, real-time operations are governed by linear programs, and day-ahead scheduling and unit commitment decisions are made using mixed integer programs. In the medium term, maintenance is scheduled using optimisation, and larger linear programs are used to schedule the optimal operation of hydro-electric plant. Finally, long-term planning decisions are made using massive time-sequential least cost transmission and generation planning models.

It follows that knowledge of optimisation is essential to model the electricity sector.

What skills and knowledge does Endgame possess in optimisation?

We are highly familiar with the mathematics behind optimisation and operations research. Our team possesses honours level qualifications in pure mathematics and am well-trained in the theory of linear dynamical systems and convex optimisation.

Moreover, we can apply our knowledge to build optimisation models from scratch. We are expert users of AIMMS (the gold-standard tool in optimisation programming) as well as other tools such as Python’s Gurobi API. As a result, we can build bespoke models to solve virtually any conceivable optimisation problem in the energy space.