Browsing by Author "Prina Pacheco, José Pedro"

Now showing 1 - 6 of 6
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    An optimization model for natural gas supply portfolios of a power generation company
    (2013) Jirutitijaroen, Panida; Kim, Sujin; Kittithreerapronchai, Oran; Prina Pacheco, José Pedro
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    Investment decision making in a deregulated electric industry using stochastic dominance
    (IEEE, 2000) Prina Pacheco, José Pedro
    This article focuses on investment on capacity expansion in a deregulated electric industry, under conditions of uncertainty. Particularly, it describes a framework for the application of the concepts of stochastic dominance to the investment decision making process. The Chilean electricity market case is taken as a general framework. After briefly describing its main characteristics, it is discussed how to obtain the probability distribution of the net present value (NPV) of an investment in a new generating plant, using a long term planning model. Having the NPV distribution, and information about investors' risk attitude, stochastic dominance concepts can be applied to complement the investment decision making process. The most interesting aspect regarding the methodology discussed is that it takes into consideration the whole distribution of returns from an investment, not relying just on the expected NPV, or a particular measure of risk. Nevertheless, stochastic dominance produces only a partial ordering of investment alternatives.
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    Medium term power portfolio optimization considering locational electricity prices and risk aversion for a power producer in a deregulated electricity market
    (2011) Lorca Gálvez, Álvaro Hugo; Prina Pacheco, José Pedro; Pontificia Universidad Católica de Chile. Escuela de Ingeniería
    Esta tesis describe el desarrollo e implementación de un modelo de optimización del portafolio energético de un productor de electricidad en el mediano plazo, considerando aspectos de generación y comerciales. La metodología desarrollada consta de tres etapas: 1) la modelación del comportamiento estocástico multivariado de precios locales de electricidad, 2) la generación de un árbol de escenarios que representa al modelo de precios locales de electricidad, y 3) la formulación de un modelo de optimización estocástica que incorpora el árbol de escenarios mencionado. Con esta metodología, un productor de electricidad que dispone de unidades generadoras térmicas en más de una localidad en un mercado eléctrico desregulado puede maximizar su beneficio esperado en el mediano plazo manteniendo una exposición al riesgo limitada.
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    Optimizing natural gas supply and energy portfolios of a generation company
    (IEEE, 2010) Kittithreerapronchai, O.; Jirutitijaroen, P.; Kim, S.; Prina Pacheco, José Pedro
    In a deregulated electricity market environment, a natural gas-fired generation company must manage its natural gas supply and construct energy portfolios by engaging in contracts to buy natural gas and generate electricity. The contracts protect the company from fluctuations in prices and demands, but provide minimal profits. The company may gain larger profits-and possible loses-by accessing natural gas spot and electricity pool markets. To capture such hedging decisions and the interactions between the natural gas and electricity markets, we formulate a Stochastic Programming model and study its benefits over an expected value problem. The stochastic model enables the company to optimize the electricity generation schedule and the natural gas consumption as well as to develop managerial insights.
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    Power Portfolio Optimization Considering Locational Electricity Prices and Risk Management
    (2014) Lorca Gálvez, Álvaro Hugo; Prina Pacheco, José Pedro
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    The value of information in a long-term hydro-thermal electrical planning model
    (2003) Contesse Becker, Luis; Donoso Ibáñez, Patricio; Prina Pacheco, José Pedro