New Fourier methods for generation system production costing

Two new, robust, and computationally efficient Fourier methods for solving the probabilistic production costing problem are presented. The method first proposed yields closely matching results with those of the standard recursive method, which is an exact method. The second method that is proposed is less accurate, but about three times as fast as the first method. Both methods offer substantial computational savings over the standard recursive method. A model test system is used to illustrate the performance of the proposed methods vis-a-vis that of the standard recursive method