The power system is one of the most complex systems designed, built, and operated by engineers. In modern society, the power system plays an indispensable role, and a comparable quality of life without a constant and reliable supply of electricity is almost unthinkable. Because electricity cannot be stored in large quantities, the operation of the power system has the constraint of balancing the production of electricity in the connected power stations and the consumption by the connected loads and of maintaining constant frequency and constant voltage with the clients. During normal operation, loads are connected and disconnected. Control actions are therefore continuously necessary – the power system is never in a steady state. On a timescale of years, planning of new power plants, the erection of new transmission lines, or the upgrading from existing lines to higher voltage levels are important items to consider. When we look ahead into the future, the main topic is the economical operation – what is the expected load and what is the most economical fuel to be used to heat the boilers in the power stations.