A real options based method for power system planning

A deregulated electricity market is characterized with uncertainties, with both long and short terms. As one of the major long term planning issues, the transmission expansion planning (TEP) is aiming at implementing reliable and secure network support to the market participants. The TEP covers two major issues: technical assessment and financial evaluations. Traditionally, the net present value (NPV) method is the most accepted for financial evaluations, it is simple to conduct and easy to understand. Nevertheless, TEP in a deregulated market needs a more dynamic approach to incorporate a project's management flexibility, or the managerial ability to adapt in response to unpredictable market developments. The real options approach (ROA) is introduced here, which has clear advantage on counting the future course of actions that investors may take, with understandable results in monetary terms. In the case study, a Nordic test system has been testified and several scenarios are given for network expansion planning. Both the technical assessment and financial evaluation have been conducted in the case study.

Towards a refinement calculus for concurrent real-time programs

We define a language and a predicative semantics to model concurrent real-time programs. We consider different communication paradigms between the concurrent components of a program: communication via shared variables and asynchronous message passing (for different models of channels). The semantics is the basis for a refinement calculus to derive machine-independent concurrent real-time programs from specifications. We give some examples of refinement laws that deal with concurrency.

Abstract specification in Object-Z and CSP

A number of integrations of the state-based specification language Object-Z and the process algebra CSP have been proposed in recent years. In developing such integrations, a number of semantic decisions have to be made. In particular, what happens when an operation's precondition is not satisfied? Is the operation blocked, i.e., prevented from occurring, or can it occur with an undefined result? Also, are outputs from operations angelic, satisfying the environment's constraints on them, or are they demonic and not influenced by the environment at all? In this paper we discuss the differences between the models, and show that by adopting a blocking model of preconditions together with an angelic model of outputs one can specify systems at higher levels of abstraction.

Introducing reference semantics via refinement

Two types of semantics have been given to object-oriented formal specification languages. Value semantics denote a class by a set of values representing its objects. Reference semantics denote a class by a set of references, or pointers, to values representing its objects. While adopting the former facilitates formal reasoning, adopting the latter facilitates transformation to object-oriented code. In this paper, we propose a combined approach using value semantics for abstract specification and reasoning, and then refining to a reference semantics before transforming specification to code.

A formal metamodeling approach to a transformation between the UML state machine and object-z

A significant problem with currently suggested approaches for transforming between models in different languages is that the transformation is often described imprecisely, with the result that the overall transformation task may be imprecise, incomplete and inconsistent. This paper presents a formal metamodeling approach for transforming between UML and Object-Z. In the paper, the two languages are defined in terms of their formal metamodels, and a systematic transformation between the models is provided at the meta-level in terms of formal mapping functions. As a consequence, we can provide a precise, consistent and complete transformation between them.