Now showing items 21-40 of 87

    • Evaluating a stochastic-programming-based bidding model for a multireservoir system 

      Aasgård, Ellen; Andersen, Gørild; Fleten, Stein-Erik; Haugstvedt, Daniel (Journal article; Peer reviewed, 2014)
      Hydropower producers need to schedule when to release water from reservoirs and participate in wholesale electricity markets where the day-ahead production is physically traded. A mixed-integer linear stochastic model for ...
    • Evaluation of static hedging strategies for hydropower producers in the Nordic market 

      Fleten, Stein-Erik; Bråthen, Espen; Nissen-Meyer, Sigurd-Erik (Journal article; Peer reviewed, 2010)
      In this paper we develop an optimization model to derive static hedge positions for hydropower producers with different risk characteristics. Previous research has primarily considered dynamic hedging; however, static ...
    • Framework for R&D decisions: A real options approach 

      Houge, Jørgen Blystad; Westlie, Magnus (Master thesis, 2011)
      This thesis proposes the use of the hybrid real options framework presented by Neely (1998)to facilitate valuation of, and decision making in, R&D projects. The framework combines thefavorable benefits from Decision Analysis ...
    • Gas-fired power plants: Investment timing, operating flexibility and CO2 capture 

      Fleten, Stein-Erik; Näsäkkälä, Erkka (Journal article; Peer reviewed, 2010)
      We analyze investments in gas-fired power plants based on stochastic electricity and natural gas prices. A simple but realistic two-factor model is used for price processes, enabling analysis of the value of operating ...
    • Green electricity investment timing in practice: Real options or net present value? 

      Fleten, Stein-Erik; Linnerud, Kristin; Molnar, Peter; Nygård, Maria Tandberg (Journal article; Peer reviewed, 2016)
      Using data from 214 hydropower projects in Norway we study whether investors in renewable energy projects exert discretion about the timing of investment decisions. We know from interviews with these investors that they ...
    • How to proceed with competing alternative energy technologies: A real options analysis 

      Siddiqui, Afzal; Fleten, Stein-Erik (Journal article; Peer reviewed, 2010)
      Concerns about CO2 emissions create incentives for the development and deployment of energy technologies that do not use fossil fuels. Indeed, such technologies would provide tangible benefits in terms of avoided fossil-fuel ...
    • Hydroelectric Real Options: A Structural Estimation Approach 

      Foss, Marius Øverland; Høst, Alexander (Master thesis, 2011)
      Structural estimation is an important technique in analyzing economic data. Unfortunately, it is often computationally expensive to implement the most powerful and efficient statistical methods. One such method is the ...
    • Hydropower Bidding in a Multi-Market Setting 

      Aasgård, Ellen Krohn; Fleten, Stein-Erik; Kaut, Michal; Midthun, Kjetil; Perez-Valdes, Gerardo A. (Journal article, 2018)
      We present a literature survey and research gap analysis of mathematical and statistical methods used in the context of optimizing bids in electricity markets. Particularly, we are interested in methods for hydropower ...
    • Hydropower Bidding Using Linear Decision Rules 

      Braathen, Jørgen; Eriksrud, Anders Lund (Master thesis, 2013)
      This thesis investigates the Linear Decision Rule (LDR) approach applied to the bidding problem of a Nordic hydropower producer with reservoir capacity. A stochastic programming model with piecewise LDR in the spot prices ...
    • Hydropower reservoir management using multi-factor price model and correlation between price and local inflow 

      Dimoski, Joakim; Nersten, Sveinung; Fleten, Stein-Erik; Löhndorf, Nils (Journal article, 2018)
      Hydropower producers with reservoir capacity have a special challenge when it comes to weighing the short-term profit from selling power in the day-ahead spot market against waiting for better electricity prices. In this ...
    • Implied Efficiency Curves from Analysis of Operational Patterns 

      brelin, sebastian; Lien, Morten Adrian; Fleten, Stein-Erik; Keppo, Jussi; Pichler, Alois (Chapter, 2018)
      A reservoir manager at a hydropower plant has to decide whether to release water in order to produce electricity, and the level at which to produce. These production levels have different efficiencies as well as other ...
    • Insights from actual day-ahead bidding of hydropower 

      Alnæs, Erik Nicholas; Grøndahl, Roger Blikra; Fleten, Stein-Erik; Boomsma, Trine Krogh (Journal article; Peer reviewed, 2015)
    • Inverse Equilibrium Analysis of Oligopolistic Electricity Markets 

      Risanger, Simon; Fleten, Stein-Erik; Gabriel, Steven Adam (Peer reviewed; Journal article, 2020)
      Inverse equilibrium modeling fits parameters of an equilibrium model to observations. This allows investigation of whether market structures fit observed outcomes and it has predictive power. We introduce a methodology ...
    • Investment in electric energy storage under uncertainty: a real options approach 

      Bakke, Ida; Fleten, Stein-Erik; Hagfors, Lars Ivar; Hagspiel, Verena; Norheim, Beate; Wogrin, Sonja (Journal article; Peer reviewed, 2016)
      In this paper we develop a real options approach to evaluate the profitability of investing in a battery bank. The approach determines the optimal investment timing under conditions of uncertain future revenues and investment ...
    • Investment in hydropower plants under uncertainty 

      Nygård, Maria Tandberg (Master thesis, 2013)
      Investment in renewable energy production in Norway is since the 1st of January 2012 granted subsidies through a market for elcertificates common with Sweden. The underlying purpose is to reach the Norwegian and Swedish ...
    • Investment in mutually exclusive transmission projects under policy uncertainty 

      Bakke, Ida; Fleten, Stein-Erik; Hagfors, Lars Ivar; Hagspiel, Verena; Norheim, Beate (Journal article; Peer reviewed, 2016)
      In this paper we evaluate mutually exclusive transmission projects under policy and economic uncertainty. The alternatives being considered are transmission investment projects between Norway and Germany, and Norway and ...
    • Investment Timing under Uncertain Renewable Energy Policy: An Empirical Study of Small Hydropower Projects 

      Linnerud, Kristin; Andersson, Ane Marte; Fleten, Stein-Erik (Journal article; Peer reviewed, 2014-12-15)
      Policy uncertainty can be a powerful deterrent to immediate investments.} Based on panel data of 214 licenses to construct small run-of-the-river hydropower plants, we examine whether the prospect of a common Swedish-Norwegian ...
    • Linear Decision Rules for Seasonal Hydropower Planning: Modelling Considerations 

      Braaten, Simen V.; Gjønnes, Ola; Hjertvik, Knut Jonny; Fleten, Stein-Erik (Journal article; Peer reviewed, 2016)
      The seasonal hydropower planning problem is presented as a robust optimization model using linear decision rules (LDR). Uncertainty is present in multiple inflow series and the price of electricity. The objective is to ...
    • Linepack storage valuation under price uncertainty 

      Arvesen, Øystein; Medbø, Vegard Gjelsvik; Fleten, Stein-Erik; Tomasgard, Asgeir; Westgaard, Sjur (Journal article; Peer reviewed, 2013)
      Natural gas flows in pipelines as a consequence of the pressure difference at the inlet and outlet. Adjusting these pressures makes it possible to inject natural gas at one rate and withdraw at a different rate, hence using ...
    • Long Term Hydropower Scheduling under Price and Inflow Uncertainty: A Linear Decision Rules Approach 

      Hadziomerovic, Ajla; Utheim Grønvik, Ida Alexandra; Ingvoldstad, Nina (Master thesis, 2013)
      This thesis takes the perspective of a hydropower producer facing the task of determining a long term reservoir management strategy that maximizes the expected market value of production. This task is complicated by the ...