Optimization Methods for Gas and Power Markets: Theory and Cases. Stefano Fiorenzani, Tiziano Vargiolu, Enrico Edoli
Optimization-Methods-for-Gas.pdf
ISBN: 9781137412966 | 250 pages | 7 Mb
- Optimization Methods for Gas and Power Markets: Theory and Cases
- Stefano Fiorenzani, Tiziano Vargiolu, Enrico Edoli
- Page: 250
- Format: pdf, ePub, fb2, mobi
- ISBN: 9781137412966
- Publisher: Palgrave Macmillan
Free it pdf books download Optimization Methods for Gas and Power Markets: Theory and Cases by Stefano Fiorenzani, Tiziano Vargiolu, Enrico Edoli 9781137412966
As power and gas markets are becoming more and more mature and globally competitive, the importance of reaching maximum potential economic efficiency is fundamental in all the sectors of the value chain, from investments selection to asset optimization, trading and sales. Optimization techniques can be used in many different fields of the energy industry, in order to reduce production and financial costs, increase sales revenues and mitigate all kinds of risks potentially affecting the economic margin. For this reason the industry has now focused its attention on the general concept of optimization and to the different techniques (mainly mathematical techniques) to reach it. Optimization Methods for Gas and Power Markets presents both theoretical elements and practical examples for solving energy optimization issues in gas and power markets. Starting with the theoretical framework and the basic business and economics of power and gas optimization, it quickly moves on to review the mathematical optimization problems inherent to the industry, and their solutions – all supported with examples from the energy sector. Coverage ranges from very long-term (and capital intensive) optimization problems such as investment valuation/diversification to asset (gas and power) optimization/hedging problems, and pure trading decisions. This book first presents the readers with various examples of optimization problems arising in power and gas markets, then deals with general optimization problems and describes the mathematical tools useful for their solution. The remainder of the book is dedicated to presenting a number of key business cases which apply the proposed techniques to concrete market problems. Topics include static asset optimization, real option evaluation, dynamic optimization of structured products like swing, virtual storage or virtual power plant contracts and optimal trading in intra-day power markets. As the book progresses, so too does the level of mathematical complexity, providing readers with an appreciation of the growing sophistication of even common problems in current market practice. Optimization Methods for Gas and Power Markets provides a valuable quantitative guide to the technicalities of optimization methodologies in gas and power markets; it is essential reading for practitioners in the energy industry and financial sector who work in trading, quantitative analysis and energy risk modeling.
Physical Energy Assets Valuation and Portfolio Optimisation with
In the era of Uncertainty and Complexity in Energy markets, Power and Gas Utilities Co-optimisation of Physical (and financial) Power and Gas Assets with Fundamental methods are based on the most basic economic principles of Recent developments in PLEXOS® allow the exploitation of Modern Portfolio Theory
Congestion Management in Liberalized Electricity Markets
2.2 Spot Markets, Pool Markets and Power Exchanges . . . . . . . . 3. 2.2.1 Spot where the introduction of the Combined Cycle Gas Turbine (CCGT) provided a In this regard especially congestion management and pricing method- General optimization theory states, that the Lagrangean multipliers define, how the.
Stochastic Modeling and Optimization in a Microgrid: A - MDPI.com
microgrids, due to the randomness in renewable power generation, the In this case, the loads on Feeders A and C can still be supplied price on microgrid planning with gas generation integration is presented in [34]. Subject to electricity market fluctuations, a stochastic optimization method can be
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This material is based upon work supported by the Department of Energy, National Energy 4 APPLICATIONS: CASE STUDIES OF CO-OPTIMIZATION BENEFITS AND 4.2.2 Summary of optimization approaches: Generation, transmission, and accounting for market response” or “anticipatory transmission planning.
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many cases, including such fundamental variables leads to new challenges, due to the very price setting mechanism (as described by optimization-based stack models) Electricity is a commodity and as a result, the electricity markets are most these methods have been extended to value gas storage and we refer the
Complementarity Problems in Restructured Natural Gas Markets
While the literature of activity in electricity market models is now abundant, it is still rather It also introduces a prototype optimization model and its interpretation in terms of perfect The second part extends the model to the case where marketers have market power. Sciences · Game Theory/Mathematical Methods.
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