Heuristic optimization of clusters of heat pumps: A simulation and case study of residential frequency reserve

The technological challenges of adapting energy systems to the addition of more renewables are intricately interrelated with the ways in which markets incentivize their development and deployment. Households with own onsite distributed generation augmented by electrical and thermal storage capacities (prosumers), can adjust energy use based on the current needs of the electricity grid. Heat pumps, as an established technology for enhancing energy efficiency, are increasingly seen as having potential for shifting electricity use and contributing to Demand Response (DR). Using a model developed and validated with monitoring data of a household in a plus-energy neighborhood in southern Germany, the technical and financial viability of utilizing household heat pumps to provide power in the market for Frequency Restoration Reserve (FRR) are studied. The research aims to evaluate the flexible electrical load offered by a cluster of buildings whose heat pumps are activated depending on selected rule-based participation strategies. Given the prevailing prices for FRR in Germany, the modelled cluster was unable to reduce overall electricity costs and thus was unable to show that DR participation as a cluster with the heat pumps is financially viable. Five strategies that differed in the respective contractual requirements that would need to be agreed upon between the cluster manager and the aggregator were studied. The relatively high degree of flexibility necessary for the heat pumps to participate in FRR activations could be provided to varying extents in all strategies, but the minimum running time of the heat pumps turned out to be the primary limiting physical (and financial) factor. The frequency, price and duration of the activation calls from the FRR are also vital to compensate the increase of the heat pumps’ energy use. With respect to thermal comfort and self-sufficiency constraints, the buildings were only able to accept up to 34% of the activation calls while remaining within set comfort parameters. This, however, also depends on the characteristics of the buildings. Finally, a sensitivity analysis showed that if the FRR market changed and the energy prices were more advantageous, the proposed approaches could become financially viable. This work suggests the need for further study of the role of heat pumps in flexibility markets and research questions concerning the aggregation of local clusters of such flexible technologies.Comisión Europea 69596

Equity valuation of OSRAM Licht AG

The work at hand presents a valuation of the German lighting company OSRAM Licht AG with the objective of determining the fair value of the company. First, a literature review presents the latest techniques in equity valuation and the appropriate methods for the valuation of OSRAM Licht AG are defined. Subsequently, the company and the industry it operates in are presented in more detail. Based on the assumptions and fore-casts made, the Discounted Cash-Flow methodology as well as the Multiples technique are applied. Finally, a Monte Carlo simulation is used to assess the risk that is associated with an investment in this particular asset. The DCF technique results in a fair value of 55.64 Euro per share. As of 1st of April the share traded below this value at a price of 44.80 Euro and thus a buy recommendation is issued. The multiples valuation leads to different results depending on the multiples applied, which can be explained by the unique position of OSRAM in the lighting market. To conclude, a comparison with an investment banks is conducted and disparities in the esti-mates and assumptions are examined.O presente trabalho apresenta uma avaliação da empresa de iluminação alemã OSRAM Licht AG, com o objetivo de determinar o justo valor da empresa. Em primeiro lugar, uma revisão da literatura apresenta as mais recentes técnicas de avaliação patrimonial e os métodos adequados para a avaliação de OSRAM Licht AG são definidos. Posteriormente, a empresa e a indústria em que opera são apresentadas de forma mais de-talhada. Com base nos pressupostos e previsões feitas, a metodologia Discounted Cash-Flow, bem como a «técnica de múltiplos» são aplicadas. Finalmente, uma simulação de Monte Carlo é utilizada para avaliar o risco que está associado com um investimento neste ativo em concreto. A técnica DCF resulta em um valor justo de 55.64 Euro por acção. A partir de 01 de abril, as ações foram negociadas abaixo desse valor, a um preço de 44.80 Euro e, nessa sequência, é emitida uma recomendação de compra. A valoração múltiplos conduz a resultados diferentes dependendo dos múltiplos aplicados, o que pode ser explicado pela posição única de Osram no mercado de iluminação. Para concluir, é conduzida uma comparação com um banco de investimento e são examina-das as disparidades nas estimativas e premissas feitas

'Not a word of fiction, nor a fancy sketch': Festival as a Reconstruction of the Past in Helena, Texas

Article

Is the growth of the child of a smoking mother influenced by the father's prenatal exposure to tobacco? A hypothesis generating longitudinal study

OBJECTIVES: Transgenerational effects of different environmental exposures are of major interest, with rodent experiments focusing on epigenetic mechanisms. Previously, we have shown that if the study mother is a non-smoker, there is increased mean birth weight, length and body mass index (BMI) in her sons if she herself had been exposed prenatally to her mother's smoking. The aim of this study was to determine whether the prenatal smoke exposure of either parent influenced the growth of the fetus of a smoking woman, and whether any effects were dependent on the fetal sex. DESIGN: Population-based prebirth cohort study. SETTING: Avon Longitudinal Study of Parents and Children. PARTICIPANTS: Participants were residents of a geographic area with expected date of delivery between April 1991 and December 1992. Among pregnancies of mothers who smoked during pregnancy, data were available concerning maternal and paternal prenatal exposures to their own mother smoking for 3502 and 2354, respectively. PRIMARY AND SECONDARY OUTCOME MEASURES: Birth weight, length, BMI and head circumference. RESULTS: After controlling for confounders, there were no associations with birth weight, length or BMI. There was a strong adjusted association of birth head circumference among boys whose fathers had been exposed prenatally (mean difference −0.35 cm; 95% CI −0.57 to −0.14; p=0.001). There was no such association with girls (interaction p=0.006). Similar associations were found when primiparae and multiparae were analysed separately. In order to determine whether this was reflected in child development, we examined the relationships with IQ; we found that the boys born to exposed fathers had lower IQ scores on average, and that this was particularly due to the verbal component (mean difference in verbal IQ −3.65 points; 95% CI −6.60 to −0.70). CONCLUSIONS: Head size differences concerning paternal fetal exposure to smoking were unexpected and, as such, should be regarded as hypothesis generating

What illnesses contraindicate immunization?

The Advisory Council on Immunization Practices (ACIP) reports that the only contraindication for all vaccines is a history of severe allergic reaction to a previous vaccine or vaccine constituent (strength of recommendations: C, based predominantly on case series, case reports, and expert opinion)

The Art of Community: Creativity at the Crossroads of Immigrant Cultures and Social Services

These are case studies that give credance to the belief that respect for one's own artistic traditions is critical to the acculturation process. The essays contained here offer clear and shining examples of how paying attention to culture and creativity can build self-confidence, nurture a productive and valuable citizenry, and even save a life. Through these stories, we begin to see that encouraging the practice of cultural traditions and participation in arts activities will help newcomers spread their wings and fly

Lipid Metabolism and Comparative Genomics

Unilever asked the Study Group to focus on two problems. The first concerned dysregulated lipid metabolism which is a feature of many diseases including metabolic syndrome, obesity and coronary heart disease. The Study Group was asked to develop a model of the kinetics of lipoprotein metabolism between healthy and obese states incorporating the activities of key enzymes. The second concerned the use of comparative genomics in understanding and comparing metabolic networks in bacterium. Comparative genomics is a method to make inferences on the genome of a new organism using information of a previously charaterised organism. The first mathematical question is how one would quantify such a metabolic map in a statistical sense, in particular, where there are different levels of confidence for presense of different parts of the map. The next and most important question is how one can design a measurement strategy to maximise the confidence in the accuracy of the metabolic map

Professional Development in Folklore: A Resource Guide for Graduate Students and New Professionals

Presented in conjunction with The Professional Development Sessions at the American Folklore Society 2003 Annual Meeting, Albuquerque, New Mexico, October 9-10, 2003.Supported by the National Endowment for the Arts

Senior Recital, Marcus Emmanuel, horn

The presentation of this senior recital will fulfill in part the requirements for the Bachelor of Music degree in Performance. Marcus Emmanuel studies horn with Dr. Patrick Smith