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Author: Christoph Weber
Publisher: Springer Science & Business Media
ISBN: 0387230475
Category : Business & Economics
Languages : en
Pages : 325
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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: 0387230475
Category : Business & Economics
Languages : en
Pages : 325
Get Book
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
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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: 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: Christoph Weber
Publisher: Springer
ISBN: 9780387502328
Category : Business & Economics
Languages : en
Pages : 0
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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: 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: Luis Baringo
Publisher: Springer Nature
ISBN: 3030476022
Category : Technology & Engineering
Languages : en
Pages : 381
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Book Description
This textbook provides a detailed analysis of operation and planning problems faced by virtual power plants participating in different electricity markets. The chapters address in-depth, topics such as: optimization, market power, expansion, and modelling uncertainty in operation and planning problems of virtual power plants. The book provides an up-to-date description of decision-making tools to address challenging questions faced by virtual power plants such as: How can virtual power plants optimize their participation in electricity markets? How can a virtual power plant exercise market power? How can virtual power plants be optimally expanded? How can uncertainty be efficiently modelled in the operation and planning problems of virtual power plants? The book is written in a tutorial style and modular format, and includes many illustrative examples to facilitate comprehension. It is intended for a diverse audience including advanced undergraduate and graduate students in the fields of electric energy systems, operations research, and economics. Practitioners in the energy sector will also benefit from the concepts and techniques presented in this book. In particular, this book: Provides students with the GAMS codes to solve the examples in the book; Provides a basis for the formulation of decision-making problems under uncertainty; Contains a blend of theoretical concepts and practical applications that are developed as working algorithms.
Author: Alejandro D. Domínguez-García
Publisher: Cambridge University Press
ISBN: 1108129293
Category : Mathematics
Languages : en
Pages : 356
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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:
Publisher:
ISBN:
Category : Electric utilities
Languages : en
Pages : 156
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Book Description
Provides an assessment of the changes in other energy industries that could occur as the result of restructuring in the electric power industry.
Author: Sayyad Nojavan
Publisher: Springer Nature
ISBN: 303036979X
Category : Business & Economics
Languages : en
Pages : 274
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Book Description
This book analyzes new electricity pricing models that consider uncertainties in the power market due to the changing behavior of market players and the implementation of renewable distributed generation and responsive loads. In-depth chapters examine the different types of market players including the generation, transmission, and distribution companies, virtual power plants, demand response aggregators, and energy hubs and microgrids. Expert authors propose optimal operational models for short-term performance and scheduling and present readers with solutions for pricing challenges in uncertain environments. This book is useful for engineers, researchers and students involved in integrating demand response programs into smart grids and for electricity market operation and planning. Proposes optimal operation models; Discusses the various players in today's electricity markets; Describes the effects of demand response programs in smart grids.
