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Author: Christoph Weber
Publisher: Springer Science & Business Media
ISBN: 0387230483
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
Around the world, liberalization and privatization in the electricity industry have lead to increased competition among utilities. At the same time, utilities are now exposed more than ever to risk and uncertainties, which they cannot pass on to their customers through price increases as in a regulated environment. Especially electricity-generating companies have to face volatile wholesale prices, fuel price uncertainty, limited long-term hedging possibilities and huge, to a large extent, sunk investments. In this context, Uncertainty in the Electric Power Industry: Methods and Models for Decision Support aims at an integrative view on the decision problems that power companies have to tackle. It systematically examines the uncertainties power companies are facing and develops models to describe them - including an innovative approach combining fundamental and finance models for price modeling. The optimization of generation and trading portfolios under uncertainty is discussed with particular focus on CHP and is linked to risk management. Here the concept of integral earnings at risk is developed to provide a theoretically sound combination of value at risk and profit at risk approaches, adapted to real market structures and market liquidity. Also methods for supporting long-term investment decisions are presented: technology assessment based on experience curves and operation simulation for fuel cells and a real options approach with endogenous electricity prices.
Author: Christoph Weber
Publisher: Springer Science & Business Media
ISBN: 0387230483
Category : Business & Economics
Languages : en
Pages : 312
Get Book Here
Book Description
Around the world, liberalization and privatization in the electricity industry have lead to increased competition among utilities. At the same time, utilities are now exposed more than ever to risk and uncertainties, which they cannot pass on to their customers through price increases as in a regulated environment. Especially electricity-generating companies have to face volatile wholesale prices, fuel price uncertainty, limited long-term hedging possibilities and huge, to a large extent, sunk investments. In this context, Uncertainty in the Electric Power Industry: Methods and Models for Decision Support aims at an integrative view on the decision problems that power companies have to tackle. It systematically examines the uncertainties power companies are facing and develops models to describe them - including an innovative approach combining fundamental and finance models for price modeling. The optimization of generation and trading portfolios under uncertainty is discussed with particular focus on CHP and is linked to risk management. Here the concept of integral earnings at risk is developed to provide a theoretically sound combination of value at risk and profit at risk approaches, adapted to real market structures and market liquidity. Also methods for supporting long-term investment decisions are presented: technology assessment based on experience curves and operation simulation for fuel cells and a real options approach with endogenous electricity prices.
Author: Ahmed F. Zobaa
Publisher: Academic Press
ISBN: 0128208937
Category : Technology & Engineering
Languages : en
Pages : 718
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Book Description
Uncertainties in Modern Power Systems combines several aspects of uncertainty management in power systems at the planning and operation stages within an integrated framework. This book provides the state-of-the-art in electric network planning, including time-scales, reliability, quality, optimal allocation of compensators and distributed generators, mathematical formulation, and search algorithms. The book introduces innovative research outcomes, programs, algorithms, and approaches that consolidate the present status and future opportunities and challenges of power systems. The book also offers a comprehensive description of the overall process in terms of understanding, creating, data gathering, and managing complex electrical engineering applications with uncertainties. This reference is useful for researchers, engineers, and operators in power distribution systems. - Includes innovative research outcomes, programs, algorithms, and approaches that consolidate current status and future of modern power systems - Discusses how uncertainties will impact on the performance of power systems - Offers solutions to significant challenges in power systems planning to achieve the best operational performance of the different electric power sectors
Author: Antonio J. Conejo
Publisher: Springer Science & Business Media
ISBN: 1441974210
Category : Business & Economics
Languages : en
Pages : 549
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Book Description
Decision Making Under Uncertainty in Electricity Markets provides models and procedures to be used by electricity market agents to make informed decisions under uncertainty. These procedures rely on well established stochastic programming models, which make them efficient and robust. Particularly, these techniques allow electricity producers to derive offering strategies for the pool and contracting decisions in the futures market. Retailers use these techniques to derive selling prices to clients and energy procurement strategies through the pool, the futures market and bilateral contracting. Using the proposed models, consumers can derive the best energy procurement strategies using the available trading floors. The market operator can use the techniques proposed in this book to clear simultaneously energy and reserve markets promoting efficiency and equity. The techniques described in this book are of interest for professionals working on energy markets, and for graduate students in power engineering, applied mathematics, applied economics, and operations research.
Author: Alejandro D. Domínguez-García
Publisher: Cambridge University Press
ISBN: 1107192080
Category : Mathematics
Languages : en
Pages : 355
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Book Description
Discover a comprehensive set of tools and techniques for analyzing the impact of uncertainty on large-scale engineered systems. Providing accessible yet rigorous coverage, it showcases the theory through detailed case studies drawn from electric power application problems, including the impact of integration of renewable-based power generation in bulk power systems, the impact of corrupted measurement and communication devices in microgrid closed-loop controls, and the impact of components failures on the reliability of power supply systems. The case studies also serve as a guide on how to tackle similar problems that appear in other engineering application domains, including automotive and aerospace engineering. This is essential reading for academic researchers and graduate students in power systems engineering, and dynamic systems and control engineering.
Author: Joachim Gwinner
Publisher: CRC Press
ISBN: 1351857665
Category : Mathematics
Languages : en
Pages : 334
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Book Description
Uncertainty Quantification (UQ) is an emerging and extremely active research discipline which aims to quantitatively treat any uncertainty in applied models. The primary objective of Uncertainty Quantification in Variational Inequalities: Theory, Numerics, and Applications is to present a comprehensive treatment of UQ in variational inequalities and some of its generalizations emerging from various network, economic, and engineering models. Some of the developed techniques also apply to machine learning, neural networks, and related fields. Features First book on UQ in variational inequalities emerging from various network, economic, and engineering models Completely self-contained and lucid in style Aimed for a diverse audience including applied mathematicians, engineers, economists, and professionals from academia Includes the most recent developments on the subject which so far have only been available in the research literature
Author: Antonio J. Conejo
Publisher: Springer
ISBN: 3319295012
Category : Business & Economics
Languages : en
Pages : 389
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Book Description
This book provides an in-depth analysis of investment problems pertaining to electric energy infrastructure, including both generation and transmission facilities. The analysis encompasses decision-making tools for expansion planning, reinforcement, and the selection and timing of investment options. In this regard, the book provides an up-to-date description of analytical tools to address challenging investment questions such as: How can we expand and/or reinforce our aging electricity transmission infrastructure? How can we expand the transmission network of a given region to integrate significant amounts of renewable generation? How can we expand generation facilities to achieve a low-carbon electricity production system? How can we expand the generation system while ensuring appropriate levels of flexibility to accommodate both demand-related and production-related uncertainties? How can we choose among alternative production facilities? What is the right time to invest in a given production or transmission facility? Written in a tutorial style and modular format, the book includes a wealth of illustrative examples to facilitate comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, operations research, management science, and economics. Practitioners in the electric energy sector will also benefit from the concepts and techniques presented here.
Author: Xu Andy Sun
Publisher: Springer Nature
ISBN: 3030851281
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
This book covers robust optimization theory and applications in the electricity sector. The advantage of robust optimization with respect to other methodologies for decision making under uncertainty are first discussed. Then, the robust optimization theory is covered in a friendly and tutorial manner. Finally, a number of insightful short- and long-term applications pertaining to the electricity sector are considered. Specifically, the book includes: robust set characterization, robust optimization, adaptive robust optimization, hybrid robust-stochastic optimization, applications to short- and medium-term operations problems in the electricity sector, and applications to long-term investment problems in the electricity sector. Each chapter contains end-of-chapter problems, making it suitable for use as a text. The purpose of the book is to provide a self-contained overview of robust optimization techniques for decision making under uncertainty in the electricity sector. The targeted audience includes industrial and power engineering students and practitioners in energy fields. The young field of robust optimization is reaching maturity in many respects. It is also useful for practitioners, as it provides a number of electricity industry applications described up to working algorithms (in JuliaOpt).
Author: United States. Congress. Senate. Committee on Governmental Affairs
Publisher:
ISBN:
Category : Legislative hearings
Languages : en
Pages : 1570
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Book Description
Author: Shimon Awerbuch
Publisher: Springer Science & Business Media
ISBN: 1461561671
Category : Business & Economics
Languages : en
Pages : 407
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Book Description
In the winter of 1996, after 4 years of planning and research, the Symposium on the Virtual Utility was held in Saratoga Springs, New York. It was sponsored by Niag ara Mohawk Power Corporation, Co-sponsored by CSC Index and the New York State Energy Research and Development Authority and hosted by Rensselaer Poly technic Institute, Troy, NY. The symposium sought to identify new areas of inquiry by presenting cutting-edge academic and practitioner research intended to further our understanding of the strategic, technologically-driven issues confronting the elec tricity production and distribution process. The program sought to offer new in sights into rapid changes in the utility industry, in part, by examining analogues from manufacturing and telecommunications. In addition to identifying new research areas, the symposium yielded a number of important findings and conclusions. This volume contains the presented papers of the meeting, the discussant reports and two special papers prepared by the meet ing rapporteurs who performed superbly in analyzing, synthesizing, explaining and generally bringing a cohesive perspective to the interesting yet complex set of ideas presented at this unique meeting. We would like to acknowledge the people and organizations that contributed to this effort. We thank Niagara Mohawk Power Corporation and Albert Budney, its President & Chief Operating Officer for sponsoring this project, and Andrew Vesey, Vice President, I whose vision, support and championing made this project possible.
Author: Haris Doukas
Publisher: Springer
ISBN: 3030031527
Category : Business & Economics
Languages : en
Pages : 271
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Book Description
This open access book analyzes and seeks to consolidate the use of robust quantitative tools and qualitative methods for the design and assessment of energy and climate policies. In particular, it examines energy and climate policy performance and associated risks, as well as public acceptance and portfolio analysis in climate policy, and presents methods for evaluating the costs and benefits of flexible policy implementation as well as new framings for business and market actors. In turn, it discusses the development of alternative policy pathways and the identification of optimal switching points, drawing on concrete examples to do so. Lastly, it discusses climate change mitigation policies’ implications for the agricultural, food, building, transportation, service and manufacturing sectors.
