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Risk analysis for CHP decision making within the conditions of an open electricity market

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  • Al-Mansour, Fouad
  • Kožuh, Mitja

Abstract

Decision making under uncertainty is a difficult task in most areas. Investment decisions for combined heat and power production (CHP) are certainly one of the areas where it is difficult to find an optimal solution since the payback period is several years and parameters change due to different perturbing factors of economic and mostly political nature.

Suggested Citation

  • Al-Mansour, Fouad & Kožuh, Mitja, 2007. "Risk analysis for CHP decision making within the conditions of an open electricity market," Energy, Elsevier, vol. 32(10), pages 1905-1916.
    • Handle: RePEc:eee:energy:v:32:y:2007:i:10:p:1905-1916
    DOI: 10.1016/j.energy.2007.03.009
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    References listed on IDEAS

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    1. Tomšič, Miha & Al-Mansour, Fouad, 1989. "Optimal operation of cogeneration plants in industry," Energy, Elsevier, vol. 14(8), pages 483-490.
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    Cited by:

    1. Compernolle, Tine & Witters, Nele & Van Passel, Steven & Thewys, Theo, 2011. "Analyzing a self-managed CHP system for greenhouse cultivation as a profitable way to reduce CO2-emissions," Energy, Elsevier, vol. 36(4), pages 1940-1947.
    2. Lončar, D. & Duić, N. & Bogdan, Ž., 2009. "An analysis of the legal and market framework for the cogeneration sector in Croatia," Energy, Elsevier, vol. 34(2), pages 134-143.
    3. Lai, Sau Man & Hui, Chi Wai, 2009. "Feasibility and flexibility for a trigeneration system," Energy, Elsevier, vol. 34(10), pages 1693-1704.
    4. Streckiene, Giedre & Martinaitis, Vytautas & Andersen, Anders N. & Katz, Jonas, 2009. "Feasibility of CHP-plants with thermal stores in the German spot market," Applied Energy, Elsevier, vol. 86(11), pages 2308-2316, November.
    5. Carpaneto, Enrico & Chicco, Gianfranco & Mancarella, Pierluigi & Russo, Angela, 2011. "Cogeneration planning under uncertainty. Part II: Decision theory-based assessment of planning alternatives," Applied Energy, Elsevier, vol. 88(4), pages 1075-1083, April.
    6. Ceglia, F. & Marrasso, E. & Pallotta, G. & Roselli, C. & Sasso, M., 2023. "Assessing the influence of time-dependent power grid efficiency indicators on primary energy savings and economic incentives for high-efficiency cogeneration," Energy, Elsevier, vol. 278(PB).
    7. Mancarella, Pierluigi, 2014. "MES (multi-energy systems): An overview of concepts and evaluation models," Energy, Elsevier, vol. 65(C), pages 1-17.
    8. Fuentes-Cortés, Luis Fabián & Dowling, Alexander W. & Rubio-Maya, Carlos & Zavala, Víctor M. & Ponce-Ortega, José María, 2016. "Integrated design and control of multigeneration systems for building complexes," Energy, Elsevier, vol. 116(P2), pages 1403-1416.
    9. Carpaneto, Enrico & Chicco, Gianfranco & Mancarella, Pierluigi & Russo, Angela, 2011. "Cogeneration planning under uncertainty: Part I: Multiple time frame approach," Applied Energy, Elsevier, vol. 88(4), pages 1059-1067, April.
    10. Carazas, F.G. & Souza, G.F.M., 2010. "Risk-based decision making method for maintenance policy selection of thermal power plant equipment," Energy, Elsevier, vol. 35(2), pages 964-975.
    11. Ersoz, Ibrahim & Colak, Uner, 2016. "Combined cooling, heat and power planning under uncertainty," Energy, Elsevier, vol. 109(C), pages 1016-1025.
    12. Tataraki, Kalliopi G. & Kavvadias, Konstantinos C. & Maroulis, Zacharias B., 2018. "A systematic approach to evaluate the economic viability of Combined Cooling Heating and Power systems over conventional technologies," Energy, Elsevier, vol. 148(C), pages 283-295.
    13. Cao, Lihua & Wang, Zhanzhou & Pan, Tongyang & Dong, Enfu & Hu, Pengfei & Liu, Miao & Ma, Tingshan, 2021. "Analysis on wind power accommodation ability and coal consumption of heat–power decoupling technologies for CHP units," Energy, Elsevier, vol. 231(C).
    14. Dowling, Alexander W. & Kumar, Ranjeet & Zavala, Victor M., 2017. "A multi-scale optimization framework for electricity market participation," Applied Energy, Elsevier, vol. 190(C), pages 147-164.
    15. Michał Gołębiewski & Marta Galant-Gołębiewska, 2021. "Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources," Energies, MDPI, vol. 14(22), pages 1-14, November.
    16. Chulseung Lee & Jaechan Park & Kangmun Lee & Ji Yeon Yang & Taewoo Roh, 2019. "Energy Efficiency for Supplier and Sustainability for Demand: A Case of Heating Systems in South Korea," Sustainability, MDPI, vol. 11(15), pages 1-21, August.
    17. Badami, M. & Camillieri, F. & Portoraro, A. & Vigliani, E., 2014. "Energetic and economic assessment of cogeneration plants: A comparative design and experimental condition study," Energy, Elsevier, vol. 71(C), pages 255-262.

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