2011: Midwest ISO Wins the Franz Edelman Award

The Midwest ISO transformed the electric utility industry leveraging advances in computing capabilities and using O.R. to create and implement complex algorithms and computer models to introduce centralized wholesale energy markets to the Midwest. These new markets increased the efficiency of the existing electric infrastructure (power plants and high-voltage transmission lines), improved the reliability of the grid and recued the need for future infrastructure investments in the Midwest. As a result of these advances in the Midwest ISO region realized between $2.1 billion and $3.0 billion in cumulative savings from 2001 through 2010, with an additional estimate value of $6.1 billion to $8.1 billion through 2020.

The purpose of the Franz Edelman competition is to bring forward, recognize and reward outstanding examples of operations research, management science and advanced analytics in practice in the world, with $15,000 in awards. First prize is accompanied by a $10,000 honorarium.

Videos and DVDs of past competitions, suitable for teaching, marketing, or publicizing OR/MS practice successes, are available for purchase from INFORMS.

View the 2011 Edelman Award Presentations, complete with slides: http://www.informs.org/Edelman2011

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