• 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, ...
    • 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 ...
    • 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 ...
    • Multi-factor models and the risk premiums: a simulation study 

      Andresen, Arne; Sollie, Johan Magne (Journal article; Peer reviewed, 2013)
      The estimation of commodity spot price models often involves the estimation of risk premiums. We show in a simulation study that the market prices of risk cannot be accurately estimated using two popular estimation techniques; ...
    • Optimal investment timing and capacity choice for pumped hydropower storage 

      Fertig, Emily; Heggedal, Ane Marte; Doorman, Gerard L.; Apt, Jay (Journal article; Peer reviewed, 2014)
      Pumped hydropower storage can smooth output from intermittent renewable electricity generators and facilitate their large-scale use in energy systems. Germany has aggressive plans for wind power expansion, and pumped storage ...
    • Optimizing day-ahead bid curves in hydropower production 

      Aasgård, Ellen Krohn; Naversen, Christian Øyn; Fodstad, Marte; Skjelbred, Hans Ivar (Journal article; Peer reviewed, 2017)
      In deregulated electricity markets, hydropower producers must bid their production into the day-ahead market. For price-taking producers, it is optimal to offer energy according to marginal costs, which for hydropower are ...
    • Portfolio size’s effects on gains from coordinated bidding in electricity markets 

      Kongelf, Håkon; Overrein, Kristoffer; Klæboe, Gro; Fleten, Stein-Erik (Journal article; Peer reviewed, 2018)
      This paper considers gains from coordinated bidding strategies in multiple electricity markets. The gain is quantified by comparing profits from coordinated bidding to profits from a purely sequential bidding strategy. We ...
    • Sample average approximation and stability tests applied to energy system design 

      Seljom, Pernille; Tomasgard, Asgeir (Journal article; Peer reviewed, 2019)
      This paper uses confidence intervals from sample average approximation (SAA) and stability tests to evaluate the quality of the solution of a long-term energy system model with stochastic wind power production. Using poorly ...
    • Upgrading hydropower plants with storage: timing and capacity choice 

      Heggedal, Ane Marte; Elverhøi, Morten; Fleten, Stein-Erik; Fuss, Sabine; Szolgayova, Jana; Troland, Ole Christian (Journal article; Peer reviewed, 2014)
      This paper presents an investment decision support framework for a hydropower producer with storage facilities that is considering upgrading the production capacity in its power plant. A real options framework is proposed ...
    • Value of information analysis of snow measurements for the scheduling of hydropower production 

      ødegaard, heidi; Eidsvik, Jo; Fleten, Stein-Erik (Journal article; Peer reviewed, 2017)
      The scheduling of a hydropower plant is challenging because of inflow uncertainty. During spring there is increased uncertainty when the snow melts. By gathering snow measurements, one learns more about the future inflow, ...