АNALYSIS OF BALANCING OF PORTFOLIO OF ELECTRICITY GENERATION SOURCES TO SOLVE THE PROBLEM OF OPTIMIZATION OF TH ENERGY PORTFOLIO

Володимир Анатолійович Заславський, Володимир Анатолійович Заславський

Abstract


The analysis of balancing of energy portfolio of the companies from the point of view of its three components - the competitiveness, its energy security and impact on the environment was performed. The study analyzes the appropriateness of portfolio management in the energy sector, applies portfolio and multi-criteria optimization theories. This analysis helps to identify priorities in the formation of companies’ energy portfolio, strengths and weaknesses of various sources of electricity generation. The results of the research will contribute to the understanding of the dynamics of the portfolio and the prospects of its change in the future.

Keywords


electricity generation portfolio; multi-criteria optimization; Markowitz portfolio theory; risks of energy supply

References


Toyoda, M. The Best Energy Mix and the Need for Comprehensive Viewpoints. Available at: http://eneken.ieej.or.jp/data/4857.pdf (accessed 15.10.2016).

McDonough, E., Spital, F. Managing Project Portfolios. Research Technology Management, vol. 46, no. 3, 2003, pp. 40−46.

Cooper, R., Edgett, S., Kleinschmidt, E. Portfolio Management for New Product Development: Re-sults of an Industry Practices Study. R&D Man-agement, Industrial Research Institute, Inc, vol. 31, no. 4, 2001, pp. 361-380. DOI: 10.1111/1467-9310.00225.

Awerbuch, S., Spencer, Y. Efficient Electricity Generating Portfolios for Europe: Maximising Energy Security and Climate Change Mitigation. EIB Papers, vol. 12, iss. 2, 2007, pp. 8-37. ISSN 0257-7755.

Bitman, W. R&D Portfolio Management Framework for Sustained Competitive Advantage. IEEE International Engineering Management Conference, Proceeding IEEE, 2005, pp. 775-779. DOI: 10.1109/IEMC.2005.1559254.

Padovani, M., Monteiro De Carvalho, M., Muscat, A. Project Portfolio Adjustment and Balance: the Case of a Company in the Chemical Sector. Produção, vol. 22(4), 2012, pp. 674-695.

Matos, E., Ferreira, P., Cunha, J. Selection of Port-folios of Electricity Generation Projects: an Exploratory Study. Available at: https://repositorium.sdum.uminho.pt/bitstream/1822/26112/1/matos_ferreira_cunha_artigo_IECC_final.pdf (accessed 15.10.2016).

Mikkola, J. Portfolio Management of R&D Projects: Implications for Innovation Management. Technovation, vol. 21(7), 2001, pp. 423-435. DOI: 10.1016/S0166-4972(00)00062-6.

Bhattacharya, A., Kojima, S. Power Sector Investment Risk and Renewable Energy: A Japanese Case Study Using Portfolio Risk Optimization Method. Energy Policy, vol. 40, 2012, pp. 69-80. DOI: 10.1016/j.enpol.2010.09.031.

Cucchiella, F., D’adamo, I., Gastaldi, M. Modeling Optimal Investments With Portfolio Analysis in Electricity Markets. Energy Education Science and Technology, Part A: Energy Science and Research, vol. 30, iss. 1, 2012, pp. 673-692.

The Shift Project Data Portal: Energy and Climate Data. Available at: www.tsp-data-portal.org (accessed 20.11.2016).

Salvatore, J. World Energy Perspective. Cost of Energy Technologies. Available at: https://www.worldenergy.org/wp-content/uploads/2013/09/WEC_J1143_CostofTECHNOLOGIES_021013_WEB_Final.pdf (accessed 27.01.2017).

Bazilian, M., Roques, F. Analytical methods for energy diversity and security: portfolio optimization in the energy sector: a tribute to the work of Dr. Shimon Awerbuch. Elsvier, Business & Eco-nomics Publ., 2009. 364 p.

Ball, B., Savage, S. Notes on Exploration and Production Portfolio Optimization. Available at: http://web.stanford.edu/~savage/faculty/savage/Notes.

PDF (accessed 10.11.2016).

Zaslavskyi, V., Pasichna, M. Type Variety Princi-ple and the Algorithm of Strategic Planning of Diversified Portfolio of Electricity Generation Sources. Advances in Intelligent Systems and Computing, vol. 582, 2017, pp. 474-485.

Frankel, D., Ostrowski, K., Pinner, D. The Disruptive Potential of Solar Power. Available at: http://www.mckinsey.com/business-functions/sustainability-and-resource-productivity/our-insights/the-disruptive-potential-of-solar-power (accessed 10.11.2016).

Checchi, A., Behrens A., Egenhofer C. Long-Term Energy Security Risks for Europe: A Sector-Specific Approach. CEPS working document. Available at: http://ssrn.com/abstract=1334620 (accessed 20.11.2016).

RWE. Transforming RWE and Securing a Sound Financial Base. Available at: https://www.rwe.com/web/cms/mediablob/en/2758922/data/2495606/26/rwe/investor-relations/presentations/RWE-Company-Presentation-2016-06-29.pdf (accessed 20.11.2016).

Commission of the European Communities. Sus-tainable Power Generation from Fossil Fuels: Aiming for Near-Zero Emissions from Coal After 2020. Available at: http://eurlex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2006:0843:FIN:EN:PDF (accessed 30.11.2016).

EUBIA. European Biomass Residues - 269 MTOE of green Energy for a sustainable Biobased Economy. Available at: http://www.eubren.com/

EUROPEAN_BIOMASS_RESIDUES_EUBIA.pdf (accessed 20.11.2016).

Nuclear Power in the European Union. Available at: http://www.world-nuclear.org/information-library/country-profiles/others/european-union.aspx (accessed 30.11.2016).

Efficiency in Electricity Generation. Report drafed by EURELECTRIC “Preservation of Resources” Working Group’s «Upstream» Sub-Group in collaboration with VGB, 2003. 30 p.

Evans, A., Strezov, V., Evans, T. Assessment of sustainability indicators for renewable energy technologies. Renewable and Sustainable Energy Reviews, no. 13, 2009, pp. 1082-1088. DOI: 10.1016/j.rser.2008.03.008.

World Nuclear Association. Comparison of Lifecycle Greenhouse Gas Emissions of Various Electricity Generation Source. Available at: http://www.world-nuclear.org/uploadedFiles/org/WNA/Publications/Working_Group_Reports/comparison_of_lifecycle.pdf (accessed 20.11.2016).

Abellera, C., Short, C. The costs of CCS and other low-carbon technologies. Issues Brief, no. 2, 2011. 12 p.

Chatzimouratidis, A., Pilavachi, P. Multicriteria evaluation of power plants impact on the living standard using the analytic hierarchy process. Energy Policy, vol. 36, iss. 3, 2008, pp. 1074-1089. DOI: 10.1016/j.enpol.2007.11.028.


Refbacks

  • There are currently no refbacks.