Please use this identifier to cite or link to this item: https://doi.org/10.1109/PMAPS.2010.5528265
Title: Optimizing natural gas supply and energy portfolios of a generation company
Authors: Kittithreerapronchai, O. 
Jirutitijaroen, P. 
Kim, S. 
Prina, J.
Keywords: Energy portfolio
Natural gas supply portfolio
Stochastic programming
Value of the stochastic solution
Issue Date: 2010
Source: Kittithreerapronchai, O.,Jirutitijaroen, P.,Kim, S.,Prina, J. (2010). Optimizing natural gas supply and energy portfolios of a generation company. 2010 IEEE 11th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2010 : 231-237. ScholarBank@NUS Repository. https://doi.org/10.1109/PMAPS.2010.5528265
Abstract: In a deregulated electricity market environment, a natural gas-fired generation company must manage its natural gas supply and construct energy portfolios by engaging in contracts to buy natural gas and generate electricity. The contracts protect the company from fluctuations in prices and demands, but provide minimal profits. The company may gain larger profits - and possible loses- by accessing natural gas spot and electricity pool markets. To capture such hedging decisions and the interactions between the natural gas and electricity markets, we formulate a Stochastic Programming model and study its benefits over an expected value problem. The stochastic model enables the company to optimize the electricity generation schedule and the natural gas consumption as well as to develop managerial insights. © 2010 IEEE.
Source Title: 2010 IEEE 11th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2010
URI: http://scholarbank.nus.edu.sg/handle/10635/71326
ISBN: 9781424457236
DOI: 10.1109/PMAPS.2010.5528265
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