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http://hdl.handle.net/11531/7941
Título : | Real options valuation applied to transmission expansion planning |
Autor : | Lumbreras Sancho, Sara Bunn, Derek W. Ramos Galán, Andrés Chronopoulos, Michail |
Fecha de publicación : | 4 |
Editorial : | Association des Economistes de l'Energie (París, Francia) |
Resumen : | Transmission Expansion Planning (TEP) is a complex problem where building a new line involves a long permitting process of around 10 years. Therefore, transmission expansion must anticipate the evolution of uncertainties particularly those derived f by changes in the capacity and location of new generating facilities. As it is not possible to request permits for all possible lines, priorities must be established. We develop a formulation to use Real Options Valuation (ROV) to evaluate the potential benefit of candidate lines and thereby identify priority projects. We present a feasible representation of optionality in TEP projects and propose a tractable evaluation of option value. The proposed technique identifies the candidate transmission lines with the highest potential, as well as their main value drivers. This is implemented on a realistic case study based on the Spanish system. |
Descripción : | Capítulos en libros |
URI : | http://hdl.handle.net/11531/7941 |
Aparece en las colecciones: | Artículos |
Ficheros en este ítem:
Fichero | Descripción | Tamaño | Formato | |
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IIT-15-090A.pdf | 319,9 kB | Adobe PDF | Visualizar/Abrir |
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