Browsing NTNU Open by Author "Fleten, Stein-Erik"
Now showing items 1-20 of 123
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A real options approach to generation capacity expansion in imperfectly competitive power markets
Brøndbo, Helene Kvilhaug; Storebø, Axel; Fleten, Stein-Erik; Boomsma, Trine Krogh (Journal article; Peer reviewed, 2019)This paper proposes a real options approach to generation capacity expansion in imperfectly competitive power markets. Our framework incorporates firms with different levels of market power; heterogeneous technologies, ... -
A spot-forward model for electricity prices with regime shifts
Paraschiv, Florentina; Fleten, Stein-Erik; Schürle, Michael (Journal article, 2014)We propose a novel regime-switching approach for electricity prices in which simulated and forecasted prices are consistent with currently observed forward prices. Additionally, the model is able to reproduce spikes and ... -
A Stochastic Dynamic Programming Approach to the Bidding Problem in the Intraday Electricity Market
Næss, Hilde Rollefsen; Bovim, Sunniva Reiten (Master thesis, 2018)The purpose of this thesis is to provide flexible market participants decision support in Elbas, in such a manner that they can take advantage of energy surpluses or deficits in the market after the spot clearing. A ... -
Accelerating electric vehicle charging investments: A real options approach to policy design
Dimanchev, Emil; Fleten, Stein-Erik; MacKenzie, Don; Korpås, Magnus (Peer reviewed; Journal article, 2023)Replacing conventional cars and trucks with battery electric vehicles requires a rapid expansion of fast-charging infrastructure. However, private sector charging infrastructure investments are delayed by unfavorable project ... -
An Analysis of the Swedish-Norwegian Electricity Certificate Market
Frogner, Jens Sveen; Hustveit, Magne (Master thesis, 2015)This thesis explores tradable green certificate markets, a support scheme for investments in renewable electricity production. A case-study on the Swedish-Norwegian Electricity Certificate market is conducted. In this ... -
An application of approximate dynamic programming/reinforcement learning to salmon production scheduling
Trondsen, Trond Håkon; Hansen, Vegard (Master thesis, 2021)Global etterspørsel etter laks som en sunn, ressurs-effektiv og klimavennlig protenkilde er forventet å øke i årene som kommer. Sammensatt årlig vekstrate for slaktevolumer av laks har vært 5% i perioden 2001-2020 (Mowi ... -
Analyzing the Effect of Capacity Payments on Peaking Generator Operation
Røssum, Ola Esten; Ledsaak, Magne Eie; Mehl, Sigurd Bondahl (Master thesis, 2018)This thesis aims to study the effects of capacity payments on the operational decisions of plant managers for peaking units in the Pennsylvania-New Jersey-Maryland Interconnection (PJM). We achieve this through a structural ... -
Backing out Expectations from Hydropower Release Time Series
Boger, Maren; Fleten, Stein-Erik; Pichler, Alois; Keppo, Jussi; Vestbøstad, Einar Midttun (Journal article, 2017)Our goal is to study how price expectations are formed in an electricity market. In the context of a single hydropower producer in the Nordic market, we expect the forward curve to have a strong influence. The alternative ... -
Backtesting a Stochastic Coordinated Bidding Model for Sequential Electricity Markets
Bringedal, Amanda Sæbø; Søvikhagen, Anne-Marthe Liaklev (Master thesis, 2018)Mainly, the balance in the power system is secured in the day-ahead market. Other markets with closing time closer to delivery have emerged to further secure the balance between supply and demand. The question is whether ... -
Backtesting coordinated hydropower bidding using neural network forecasting
Bringedal, Amanda Sæbø; Søvikhagen, Anne-Marthe; Aasgård, Ellen Krohn; Fleten, Stein-Erik (Peer reviewed; Journal article, 2021)A stochastic programming model for a price-taking, profit-maximizing hydropower producer participating in the Nordic day-ahead and balancing market is developed and evaluated by backtesting over 200 historical days. We ... -
Benchmarking time series based forecasting models for electricity balancing market prices
Klæboe, Gro; Eriksrud, Anders Lund; Fleten, Stein-Erik (Journal article; Peer reviewed, 2013)In the trade-off between bidding in the day-ahead electricity market and the real time balancing market, producers need good forecasts for balancing market prices to make informed decisions. A range of earlier published ... -
Beslutningsstøtte med kontinuerlig virkningsgradsmåling i vannkraftverk
Ruud, Einar Johan (Master thesis, 2017)Fremtidens energimiks i Nord-Europa er preget av en stadig større andel uforutsigbare fornybare energikilder som vind og sol, og dette medfører utfordringer for produksjonsplanlegging og regulering av kraftproduksjon. Det ... -
Bidding in sequential electricity markets: The Nordic case
Boomsma, Trine Krogh; Juul, Nina; Fleten, Stein-Erik (Journal article; Peer reviewed, 2014)For electricity market participants trading in sequential markets with differences in price levels and risk exposure, it is relevant to analyze the potential of coordinated bidding. We consider a Nordic power producer who ... -
Bidding Revealed: An Empirical Analysis of Selling Hydropower through Elspot
Grøndahl, Roger Blikra; Alnæs, Erik Nicholas (Master thesis, 2012)In the deregulated Nordic electricity market, power producers bid to sell tomorrow's power in the day-ahead auction Elspot. This thesis presents an empirical analysis of bids submitted by three medium to large sized Norwegian ... -
Bilateral vs. Financial Contracting in the Nordic Electricity Market
Tvedt, Merethe (Master thesis, 2021)I løpet av de siste årene har det vært en betydelig økning i bruk av PPA (Power Purchase Agreement) i det nordiske kraftmarkedet. Samtidig har likviditeten i det finansielle markedet (kraftderivater handlet på Nasdaq ... -
Biorefinery procurement risk hedging under multi-commodity price and exchange rate uncertainty
Aasved, Christian; Harstveit, Magnus (Master thesis, 2022)I løpet av de siste årene har koronapandemien og økende global politisk usikkerhet ført til høyere volatilitet og prisrisiko i råvaremarkedene. Den råvareintensive og voksende bioraffineriindustrien spiller en avgjørende ... -
Capacity Expansion in Power Markets - a Real Options Approach
Brøndbo, Helene Kvilhaug; Storebø, Axel (Master thesis, 2017)This thesis explores generation capacity expansions in power markets using a real options approach. Our framework considers several features of actual power markets, including time-varying demand and generation technologies ... -
Co-movements between forward prices and resource availability in hydro-dominated electricity markets
Kleiven, Andreas; Risanger, Simon; Fleten, Stein-Erik (Peer reviewed; Journal article, 2023)Hydropower producers estimate the opportunity value of their water, known as a water value, by comparing current prices to future opportunities. When hydropower dominates the energy mix, the system’s hydrological state ... -
Coordinated Multimarket Bidding for a Hydropower Producer using Stochastic Programming
Kongelf, Håkon; Overrein, Kristoffer (Master thesis, 2017)With the connection of new regions into the Nordic power markets competition intensifies. The incentive of power producers to exploit their portfolios more effectively is increasing. Expecting a higher share of non-dispatchable ... -
Day-ahead electricity market bidding for a cascaded reservoir system: A stochastic programming approach
Aasgård, Ellen Krohn; Andersen, Gørild Slettjord (Master thesis, 2013)In this thesis a stochastic model for bid optimization and short-term productionscheduling has been implemented and tested trough a simulationprocedure run over a longer period of time for a complex real-life river system.The ...