Book excerpt: This book is a collection of chapters describing the advanced and future aspects of smart grid technology. The book emphasizes technical issues, theoretical background and practical applications that drive postgraduates, researchers and practicing engineers with the right advanced skills, vision and knowledge who will further be capable of leading in teams involved in the modelling, control, design, and optimization of the future smart grids. This feature strengthens the benefits of the book for the readers who will gain an insightful understanding of future smart grid challenges including: (i) the formulation of decision-making models, (ii) the familiarization with efficient solution algorithms for such models and (iii) insights into these problems through the detailed analysis of numerous illustrative examples. Further the chapters in this book provide comprehensive coverage of modelling, control and optimization of smart grid which are quite different from most technical publications.