42,923 research outputs found
Modelling of a Gas Cap Gas Lift System
Imperial Users onl
Market and Economic Modelling of the Intelligent Grid: End of Year Report 2009
The overall goal of Project 2 has been to provide a comprehensive understanding of the impacts of distributed energy (DG) on the Australian Electricity System. The research team at the UQ Energy Economics and Management Group (EEMG) has constructed a variety of sophisticated models to analyse the various impacts of significant increases in DG. These models stress that the spatial configuration of the grid really matters - this has tended to be neglected in economic discussions of the costs of DG relative to conventional, centralized power generation. The modelling also makes it clear that efficient storage systems will often be critical in solving transient stability problems on the grid as we move to the greater provision of renewable DG. We show that DG can help to defer of transmission investments in certain conditions. The existing grid structure was constructed with different priorities in mind and we show that its replacement can come at a prohibitive cost unless the capability of the local grid to accommodate DG is assessed very carefully.Distributed Generation. Energy Economics, Electricity Markets, Renewable Energy
A Hedged Monte Carlo Approach to Real Option Pricing
In this work we are concerned with valuing optionalities associated to invest
or to delay investment in a project when the available information provided to
the manager comes from simulated data of cash flows under historical (or
subjective) measure in a possibly incomplete market. Our approach is suitable
also to incorporating subjective views from management or market experts and to
stochastic investment costs. It is based on the Hedged Monte Carlo strategy
proposed by Potters et al (2001) where options are priced simultaneously with
the determination of the corresponding hedging. The approach is particularly
well-suited to the evaluation of commodity related projects whereby the
availability of pricing formulae is very rare, the scenario simulations are
usually available only in the historical measure, and the cash flows can be
highly nonlinear functions of the prices.Comment: 25 pages, 14 figure
History Matching Using Principal Component Analysis
Imperial Users onl
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