A time consistent risk averse three-stage stochastic mixed integer optimization model for power generation capacity expansion
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- 作者：P. Pisciella
- 关键词：C61 Optimization Techniques ; Programming Models ; Dynamic Analysis C63 Computational Techniques ; Simulation Modeling D24 Production ; Cost ; Capital ; Total Factor and Multifactor Productivity ; Capacity Q41 Demand and Supply Q42 Alternative Energy Sources L94 ; Electric utilities
- 刊名：Energy Economics
- 出版年：2016
- 出版时间：January 2016
- 年：2016
- 卷：53
- 期：Complete
- 页码：203-211
- 全文大小：774 K
文摘
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- <p id="p0345">We propose a time consistent risk averse multi-stage model for capacity expansion.p>
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- <p id="p0350">We introduce a case study with uncertainty on electricity prices and fuel costs.p>
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- <p id="p0355">Increased budget moves the investment from gas towards renewables and then coal.p>
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- <p id="p0360">Increased risk aversion moves the investment from coal towards renewables.p>
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- <p id="p0365">Time inconsistency leads to a profit gap between planned and implemented policies.p>