Robust Multiobjective Decision Making in the Acquisition of Energy Assets
Abstract
:1. Introduction
2. Theoretical Reference
2.1. Private Investments in Energy
2.2. Generalization of the Classical Approach to Dealing with Information Uncertainty
- The minimum level of objective function:
- The maximum level of objective function:
- The average level of objective function:
- The maximum level of regret:
- The first step involves constructing q payoff matrices, corresponding to the number of objective functions. These matrices account for all combinations of solution alternatives and the representative states of nature . To construct payoff matrices, it is necessary to solve q multicriteria problems formalized within the framework of models. By solving them, it is possible to obtain the solution alternatives (). After that, are substituted for . These substitutions generate q payoff matrices;
- The second step is related to the analysis of the obtained payoff matrices. The execution of this phase is based on the approach proposed in [11] discussed above. However, the insufficient resolving capacity of this phase may lead to non-unique or not well-distinguished solutions, and this circumstance demands the application of the third phase;
- The third step is associated with the construction and analysis of models [11,22] for the subsequent contraction of decision uncertainty regions. The use of models allows taking into account indices of quantitative character and qualitative character, based on the knowledge, experience, and intuition of the involved experts
2.3. Decision-Making Models
3. Objectives in Energy Investments
- Prioritize alternatives that have the greatest synergy with the portfolio’s resources;
- Prioritize alternatives with the lowest operational risk.
4. Application Example
- : Maintain the current portfolio;
- : Current portfolio with the addition of the solar plant with a contract sale of 100% of its physical guarantee;
- : Current portfolio with the addition of the wind plant with a contract sale of 100% of its physical guarantee;
- : Current portfolio with the addition of the wind plant with a contract sale of 80% of its physical guarantee;
- : Current portfolio with the addition of the wind plant with a contract sale of 50% of its physical guarantee;
- : Current portfolio with the addition of the wind and solar plants with a contract sale of 100% of their physical guarantees;
- : Current portfolio with the addition of the solar plant with a contract sale of 75% of its physical guarantee;
- : Current portfolio with the addition of the solar plant with a contract sale of 75% of its physical guarantee and the wind plant with a contract sale of 80% of its physical guarantee.
5. Results
6. Conclusions
Author Contributions
Funding
Data Availability Statement
Conflicts of Interest
Abbreviations
CVaR | conditional value at risk |
GSF | generation scaling factor |
InS | insurance index |
MRE | energy reallocation mechanism |
NPV | net present value |
PLD | settlement price for differences |
OTC | over the counter |
RaR | revenue at risk |
VaR | value at risk |
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Type | Total Physical Guarantee [MWm] | Average Cost of Operation and Maintenance [R$/MWh] | Concession Expiration |
---|---|---|---|
Hydraulic power plants—Group 1 | 38.3 | 0.54 | 31 May 2028 |
Hydraulic power plants—Group 2 | 36.0 | 0.54 | 31 July 2032 |
Hydraulic power plants—Group 3 | 128.6 | 0.54 | 31 December 2035 |
Hydraulic power plants—Group 4 | 122.8 | 0.54 | 25 August 2036 |
Wind power plants | 67.5 | 0.21 | 31 December 2033 |
Sales contracts 1 | −325.0 | 225.00 | 31 December 2033 |
Sales contracts 2 | −23.0 | 230.00 | 31 December 2033 |
Alternative Type | Physical Guarantee (MWm) | Operation Cost (R$/MWh) | Portfolio Entry | Concession Expiration |
---|---|---|---|---|
Wind power plant | 28.0 | 0.00 | 1 September 2024 | 31 May 2057 |
Solar power plant | 8.0 | 0.00 | 1 January 2022 | 31 December 2033 |
Wind power plant sales contract | −28.0 | 210.00 | 1 January 2022 | 31 December 2033 |
Solar power plant sales contract | −8.0 | 197.50 | 1 September 2024 | 31 December 2033 |
Name | Installed Capacity (MW) | Capacity Factor | Investment Cost (M R$) |
---|---|---|---|
Wind power plant | 53.7 | 0.52 | 250.00 |
Solar power plant | 47.0 | 0.17 | 172.00 |
Alternative | PDE_2029 | PDE_2030 |
---|---|---|
4791.51 | 4732.74 | |
4769.46 | 4713.26 | |
4900.36 | 4839.31 | |
4892.69 | 4816.45 | |
4880.84 | 4781.12 | |
4878.31 | 4819.83 | |
4762.62 | 4699.49 | |
4863.80 | 4783.20 |
Alternative | PDE_2029 | PDE_2030 |
---|---|---|
4664.09 | 4594.92 | |
4639.48 | 4573.23 | |
4772.78 | 4701.65 | |
4779.64 | 4694.74 | |
4781.34 | 4680.04 | |
4748.16 | 4679.91 | |
4639.42 | 4565.59 | |
4754.29 | 4665.14 |
Alternative | PDE_2029 | PDE_2030 |
---|---|---|
127.42 | 137.82 | |
129.98 | 140.03 | |
127.58 | 137.66 | |
113.05 | 121.71 | |
99.50 | 101.08 | |
130.14 | 139.92 | |
123.20 | 133.90 | |
109.50 | 118.06 |
Alternative | PDE_2029 | PDE_2030 |
---|---|---|
0.00 | 0.00 | |
143.45 | 143.45 | |
119.91 | 119.91 | |
111.46 | 111.46 | |
94.05 | 94.05 | |
125.14 | 125.14 | |
133.94 | 133.94 | |
116.34 | 116.34 |
Alternative | Wald | Laplace | Savage | Hurwicz |
---|---|---|---|---|
0.00 | 0.00 | 0.00 | 0.00 | |
0.00 | 0.00 | 0.00 | 0.00 | |
0.06 | 0.07 | 0.06 | 0.06 | |
0.47 | 0.51 | 0.47 | 0.49 | |
0.58 | 0.66 | 0.58 | 0.65 | |
0.00 | 0.00 | 0.00 | 0.00 | |
0.00 | 0.00 | 0.00 | 0.00 | |
0.56 | 0.61 | 0.56 | 0.59 |
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Share and Cite
Bambirra, R.; Schiavo, L.; Lima, M.; Miranda, G.; Reis, I.; Cassemiro, M.; Andrade, A.; Laender, F.; Silva, R.; Vieira, D.; et al. Robust Multiobjective Decision Making in the Acquisition of Energy Assets. Energies 2023, 16, 6089. https://doi.org/10.3390/en16166089
Bambirra R, Schiavo L, Lima M, Miranda G, Reis I, Cassemiro M, Andrade A, Laender F, Silva R, Vieira D, et al. Robust Multiobjective Decision Making in the Acquisition of Energy Assets. Energies. 2023; 16(16):6089. https://doi.org/10.3390/en16166089
Chicago/Turabian StyleBambirra, Rafael, Lais Schiavo, Marina Lima, Giovanna Miranda, Iolanda Reis, Michael Cassemiro, Antônio Andrade, Fernanda Laender, Rafael Silva, Douglas Vieira, and et al. 2023. "Robust Multiobjective Decision Making in the Acquisition of Energy Assets" Energies 16, no. 16: 6089. https://doi.org/10.3390/en16166089