The 2011 Edelman Award winner was announced this week in Chicago. Midwest ISO which manages one of the world’s largest energy markets, won the 2011 Franz Edelman Award for Achievement in Operations Research and the Management Sciences at a banquet sponsored by the Institute for Operations Research and the Management Sciences (INFORMS) in Chicago tonight.
The Franz Edelman competition attests to the contributions of operations research and analytics in the profit and non-profit sectors. Since its inception 40 years ago, cumulative dollar benefits from Edelman finalist projects has reached over $170 billion.
"By leveraging operations research, Midwest ISO and its stakeholders added significant value to the region through improved reliability and increased efficiencies of the region’s power plants and transmission assets," said John Bear, President and CEO of Midwest ISO. "We are honored and pleased that INFORMS recognized the value of this collaborative project."
Driven by the goal of minimizing delivered wholesale energy costs reliably, Midwest ISO, with the support of Alstom Grid, The Glarus Group, Paragon Decision Technology, and Utilicast, used operations research and analytics to design and launch its energy-only market on April 1, 2005, and introduced its energy and ancillary services markets on Jan. 6, 2009.
To read the full article please visit: http://www.analytics-magazine.com/special-articles/301-midwest-iso-earns-edelman-honors.html
So prestigious achievement the brilliant Midwest ISO is! It is felt very proper to deserve the incredible award where as in the midst of the world's energy markets. Across the beloved planet namely The Earth should be on the very right hand. I very personally appreciate the supporting award for the prior aim of the human beings' sustainability. Thanks so much for the very nice information. It is very suitable to get first attention.
ReplyDelete