D. P. Neto, E. G. Domingues, A. Coimbra, A. T. Almeida, W. Calixto
{"title":"Investment risk analysis for photovoltaic power plant in the free contracting environment","authors":"D. P. Neto, E. G. Domingues, A. Coimbra, A. T. Almeida, W. Calixto","doi":"10.1109/EEM.2015.7216764","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216764","url":null,"abstract":"This research work presents a methodology for investment risk analysis in a photovoltaic power plant. Stochastic modeling are developed for the variables solar irradiance, photovoltaic panel temperature and price of electricity in the Brazilian spot market. A case study is presented to validate the applicability of the methodology. The method is developed considering various characteristics of the Brazilian market, specifically for the Free Contracting Environment, but can be adapted to other markets.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125306518","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Scenario-based real-time demand response considering wind power and price uncertainty","authors":"M. Wei, J. Zhong","doi":"10.1109/EEM.2015.7216740","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216740","url":null,"abstract":"Real-time pricing can potentially lead to economic advantages for consumers in the environment of smart grid. Compared with flat rates, dynamic pricing allows consumers more engagement through measures of demand response (DR). This paper investigated the optimal hourly electricity consumption scheduling problem of a given consumer responding real-time price. The objective of the proposed model is to maximize the surplus of a consumer that is equipped with wind power and storage devices. Hourly utility curve is considered as a function of power consumption. Bidirectional communication between the consumer and the supplier allows for interval price updates, so the consumer can flexibly adjust hourly demand. Key sources influencing final performance are price uncertainty and renewable power generation uncertainty. Uncertainties are modelled via scenario-based stochastic optimization, where its feasibility is illustrated in numerical simulations.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125261332","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Distribution network tariffs — The effect of decentralized generation and auto-consumption","authors":"N. Friedrichsen, M. Klobasa, M. Pudlik","doi":"10.1109/EEM.2015.7216648","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216648","url":null,"abstract":"Decentralized generation on the owners premises can be used on-site which we call auto-consumption. In a system with energy based (volumetric) network charges this reduces network income and in turn causes higher network charges on remaining usage with redistributional effects among customers. We estimate the effect from PV auto-consumption in Germany to be small in many network areas but significant in others leading to significant regional unequality. The effect may be self-enforcing and could increase strongly with pronounced shares of PV and auto-consumption. Further analysis should address the causal links to inform modifications to network charging for higher cost causality in power systems with high shares of (renewable) decentralized generation. Meanwhile a higher fixed component in network charges could be a pragmatic way to mitigate effects and serve a more equal participation of auto-consumers in network financing.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121754510","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Elisabete Pereira, Ana Cristina Nunes, J. Sousa, V. Mendes
{"title":"Hydrological risk integration in a hydro power plant real options analysis","authors":"Elisabete Pereira, Ana Cristina Nunes, J. Sousa, V. Mendes","doi":"10.1109/EEM.2015.7216633","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216633","url":null,"abstract":"Traditional valuation methods such as net present value, internal rate of return or payback period perform investment assessment based on the average generation of a hydro plant, ignoring investment irreversibility, uncertainty and management flexibility. Among all the sources of volatility, this study presents the impact on a hydro power plant investment of two different hydrological patterns based on the historical inflows of Douro and Guadiana rivers. For a hydro power plant without a reservoir and pumping facilities, inflows are critical for both generation and for revenues creation. This work aims to apply the Real Options Approach (ROA) based on the binomial tree method developed by Cox, Ross and Rubinstein [1] on the economic evaluation of a hydro power plant investment that the investor can defer for a limited period, taking into account the hydrological risk impact.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115273838","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Bi-level optimization of electricity tariffs and PV distributed generation investments","authors":"Carles Cervilla, J. Villar, F. A. Campos","doi":"10.1109/EEM.2015.7216711","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216711","url":null,"abstract":"Distributed Generation (DG) is providing end consumers the possibility to satisfy part of their electricity consumption by using their own small-scale power generators. To regulate DG, new regulation schemes are needed, being net metering one of the most used. However, regulators appreciate that net metering could jeopardize the incomes to cover the regulated activities' cost. This paper proposes a mathematical bi-level model to obtain the evolution of the access tariffs and their corresponding incomes needed to cover the regulated costs, as well as the optimal DG investment of the consumers under a net metering regulation, in a simplified framework.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129410141","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Thomsen, Arnaud Roulland, Martin Kellermann, N. Hartmann, T. Schlegl
{"title":"Decentralised market agent — Accessing central markets with demand side management technologies","authors":"J. Thomsen, Arnaud Roulland, Martin Kellermann, N. Hartmann, T. Schlegl","doi":"10.1109/EEM.2015.7216631","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216631","url":null,"abstract":"Within the German energy transition, several challenges arise. Shifting electricity supply from a centralistic, unidirectional system towards a decentralized, bi-directional system with a significantly increased number of stakeholders and thus conflicting interests leads to a number of technical, political, social and economic debates. However, there is an overall agreement that the importance of distribution grid operation, decentralised energy generation and flexible generation technologies will be essential elements of future energy systems. This paper presents the concept of a new market role, the “Decentralised Market Agent” (DMA), which optimizes the system operation and expansion on distribution grid level. To do so, one of the potential flexibility technologies is Demand Side Management (DSM), which is analysed in more detail in this paper. With regard to the tasks and objective of the DMA, the requirements and potentials of DSM are discussed and evaluated qualitatively. Based on this, an analysis of applicable DSM measures in households as well as for an industrial consumer is conducted. This serves as a basis for the evaluation of the technical and economic potential DSM might hold for the DMA.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122482436","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Optimal investment planning for power systems under performance-based regulation","authors":"D. Božič, M. Pantoš","doi":"10.1109/EEM.2015.7216616","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216616","url":null,"abstract":"The paper presents a new method for reliability investment decisions when a reward/penalty scheme is applied to the regulation of distribution system operators. The method was developed in order to facilitate the transition from cost-based regulation to performance-based regulation for distribution utilities. New investment planning criteria for distribution utilities subjected to the new regulatory regime is identified and mathematically formulated as a new investment efficiency index IEI, which yields the relation between the improvement of system reliability due to the investment in the electric system and total investment costs. The method was tested on Slovenian distribution system, where two investment candidates were compared in order to determine which project has a greater benefit-cost ratio and therefore represents a better investment alternative.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115977122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Customer interruption costs calculation of finnish electricity customers","authors":"Sinan Kufeoglu, Samuel Prittinen, M. Lehtonen","doi":"10.1109/EEM.2015.7216605","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216605","url":null,"abstract":"Estimation of the economic impacts of the power interruptions is a challenging task. There are several methodologies proposed to assess these costs. Each methodology has certain advantages and disadvantages. This paper summarizes the policy changes done by the Finnish authorities to improve the electric power reliability and it presents the calculation of the customer interruption costs via the model which is utilized by the Finnish Energy Market Authority.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126379536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Robust smooth transition threshold autoregressive models for electricity prices","authors":"L. Grossi, F. Nan","doi":"10.1109/EEM.2015.7216666","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216666","url":null,"abstract":"In this paper we suggest the use of robust STAR (Smooth Transition AutoRegressive) processes to model and forecast electricity prices observed on deregulated markets. The robustness of the model is achieved by extending to time series the M-type estimator based on the polynomial weighting function first introduced for independent multivariate data. The robust M-STAR estimator can be considered as a generalization of the robust SETAR estimator [1], because in STAR processes the change from one regime to another is ruled by a smooth function rather than by a fixed threshold. The main advantage of estimating robust STAR models is the possibility to capture two very well-known stylized facts of electricity prices: nonlinearity produced by changes of regimes and the presence of sudden spikes due to inelasticity of demand. The forecasting performance of the model is assessed through an application to the Italian electricity market (IPEX). By means of prediction performance indexes and tests, robust and non-robust STAR models for electricity prices are compared.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125481576","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A conjectural supply function equilibrium in energy and reserve for a weekly horizon","authors":"Pablo Gonzalez, J. Villar, C. Díaz, F. A. Campos","doi":"10.1109/EEM.2015.7216658","DOIUrl":"https://doi.org/10.1109/EEM.2015.7216658","url":null,"abstract":"Despite the fact that reserves still have a small impact on the final electricity price, the rapid irruption of renewable and interruptible technologies has put in the spotlight the value of these services. It seems therefore important to rely on market models able to output realistic energy and reserve prices under imperfect competition. However, few are the authors that have modeled strategic behavior in both commodities. This paper presents an hourly multi-period oligopolistic model for energy and reserve markets, with units' commitment decisions and hydro-coordination, based on the conjectural supply function equilibrium. Its outputs have been compared with real Spanish data from the first weeks of 2011 with satisfactory results.","PeriodicalId":252103,"journal":{"name":"2015 12th International Conference on the European Energy Market (EEM)","volume":"79 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133914097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}