Search results for: optimal weighting
995 Optimization of a Hybrid Wind-Pv-Diesel Standalone System: Case Chlef, Algeria
Authors: T. Tahri, A. Bettahar, M. Douani
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In this work, an attempt is made to design an optimal wind/pv/diesel hybrid power system for a village of Ain Merane, Chlef, Algeria, where the wind speed and solar radiation measurements were made. The aim of this paper is the optimization of a hybrid wind/solar/diesel system applied in term of technical and economic feasibility by simulation using HOMER. A comparison was made between the performance of wind/pv/diesel system and the classic connecting system.Keywords: Chlef-Algeria, Homer, Renewable energy, Wind-pvdiesel hybrid system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3051994 Automation of Packing Cell in Fresh Fish Facilities
Authors: Omid Mirmotahari, Yngvar Berg, Mats Hovin
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The problem discussed in this paper involves packing fresh fish fileet of the northern Cod into a standard square container. The fish is first cleaned and split and then collected on a belt ready to be stacked in a container. The aim of our work is to pack the fish into the container with constraints on the amount of overlap allowed for the fileets. The current focus is to design a packing cell that can be real-time and of practical use, while finding the optimal solution to the degree of overlap and minimise the unused space of the container.
Keywords: Facilities Planning and Management, Intelligent Systems, Manufacturing Systems, Operations Research, Production Planning and Control.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1637993 An Adequate Choice of Initial Sample Size for Selection Approach
Authors: Mohammad H. Almomani, Rosmanjawati Abdul Rahman
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In this paper, we consider the effect of the initial sample size on the performance of a sequential approach that used in selecting a good enough simulated system, when the number of alternatives is very large. We implement a sequential approach on M=M=1 queuing system under some parameter settings, with a different choice of the initial sample sizes to explore the impacts on the performance of this approach. The results show that the choice of the initial sample size does affect the performance of our selection approach.Keywords: Ranking and Selection, Ordinal Optimization, Optimal Computing Budget Allocation, Subset Selection, Indifference-Zone, Initial Sample Size.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1307992 On Bounds For The Zeros of Univariate Polynomial
Authors: Matthias Dehmer1 Jürgen Kilian
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Problems on algebraical polynomials appear in many fields of mathematics and computer science. Especially the task of determining the roots of polynomials has been frequently investigated.Nonetheless, the task of locating the zeros of complex polynomials is still challenging. In this paper we deal with the location of zeros of univariate complex polynomials. We prove some novel upper bounds for the moduli of the zeros of complex polynomials. That means, we provide disks in the complex plane where all zeros of a complex polynomial are situated. Such bounds are extremely useful for obtaining a priori assertations regarding the location of zeros of polynomials. Based on the proven bounds and a test set of polynomials, we present an experimental study to examine which bound is optimal.
Keywords: complex polynomials, zeros, inequalities
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1872991 Modeling of Crude Oil Blending via Discrete-Time Neural Networks
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Crude oil blending is an important unit operation in petroleum refining industry. A good model for the blending system is beneficial for supervision operation, prediction of the export petroleum quality and realizing model-based optimal control. Since the blending cannot follow the ideal mixing rule in practice, we propose a static neural network to approximate the blending properties. By the dead-zone approach, we propose a new robust learning algorithm and give theoretical analysis. Real data of crude oil blending is applied to illustrate the neuro modeling approach.Keywords: Neural networks, modeling, stability, crude oil.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2263990 A Study of the Change of Damping Coefficient Regarding Minimum Displacement
Authors: Tawiwat V., Narongkorn D., Auttapoom L.
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This research proposes the change of damping coefficient regarding minimum displacement. From the mass with external forced and damper problem, when is the constant external forced transmitted to the understructure in the difference angle between 30 and 60 degrees. This force generates the vibration as general known; however, the objective of this problem is to have minimum displacement. As the angle is changed and the goal is the same; therefore, the damper of the system must be varied while keeping constant spring stiffness. The problem is solved by using nonlinear programming and the suitable changing of the damping coefficient is provided.
Keywords: Damping coefficient, Optimal control, Minimum Displacement and Vibration
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1342989 Utilization of Industrial Byproducts in Concrete Applications by Adopting Grey Taguchi Method for Optimization
Authors: V. K. Bansal, M. Kumar, P. P. Bansal, A. Batish
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This paper presents the results of an experimental investigation carried out to evaluate the effects of partial replacement of cement and fine aggregate with industrial waste by-products on concrete strength properties. The Grey Taguchi approach has been used to optimize the mix proportions for desired properties. In this research work, a ternary combination of industrial waste by-products has been used. The experiments have been designed using Taguchi's L9 orthogonal array with four factors having three levels each. The cement was partially replaced by ladle furnace slag (LFS), fly ash (FA) and copper slag (CS) at 10%, 25% and 40% level and fine aggregate (sand) was partially replaced with electric arc furnace slag (EAFS), iron slag (IS) and glass powder (GP) at 20%, 30% and 40% level. Three water to binder ratios, fixed at 0.40, 0.44 and 0.48, were used, and the curing age was fixed at 7, 28 and 90 days. Thus, a series of nine experiments was conducted on the specimens for water to binder ratios of 0.40, 0.44 and 0.48 at 7, 28 and 90 days of the water curing regime. It is evident from the investigations that Grey Taguchi approach for optimization helps in identifying the factors affecting the final outcomes, i.e. compressive strength and split tensile strength of concrete. For the materials and a range of parameters used in this research, the present study has established optimum mixes in terms of strength properties. The best possible levels of mix proportions were determined for maximization through compressive and splitting tensile strength. To verify the results, the optimal mix was produced and tested. The mixture results in higher compressive strength and split tensile strength than other mixes. The compressive strength and split tensile strength of optimal mixtures are also compared with the control concrete mixtures. The results show that compressive strength and split tensile strength of concrete made with partial replacement of cement and fine aggregate is more than control concrete at all ages and w/c ratios. Based on the overall observations, it can be recommended that industrial waste by-products in ternary combinations can effectively be utilized as partial replacements of cement and fine aggregates in all concrete applications.
Keywords: Analysis of variance, ANOVA, compressive strength, concrete, grey Taguchi method, industrial by-products, split tensile strength.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 821988 Transformation of Course Timetablinng Problem to RCPSP
Authors: M. Ahmad, M. Gourgand, C. Caux
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The Resource-Constrained Project Scheduling Problem (RCPSP) is concerned with single-item or small batch production where limited resources have to be allocated to dependent activities over time. Over the past few decades, a lot of work has been made with the use of optimal solution procedures for this basic problem type and its extensions. Brucker and Knust[1] discuss, how timetabling problems can be modeled as a RCPSP. Authors discuss high school timetabling and university course timetabling problem as an example. We have formulated two mathematical formulations of course timetabling problem in a new way which are the prototype of single-mode RCPSP. Our focus is to show, how course timetabling problem can be transformed into RCPSP. We solve this transformation model with genetic algorithm.Keywords: Course Timetabling, Integer programming, Combinatorial optimizations
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2016987 Conflicts and Compromise at the Management of Transboundry Water Resources (The Case of the Central Asia)
Authors: Sobir T. Navruzov
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The problem of complex use of water resources in Central Asia by taking into consideration the sovereignty of the states and increasing demand on use of water for economic aspects are considered. Complex program with appropriate mathematical software intended for calculation of possible variants of using the Amudarya up-stream water resources according to satisfaction of incompatible requirements of the national economics in irrigation and energy generation is proposed.Keywords: water resources, national economics, irrigation, transboundry, energy generation, optimal solution, program complex, up-stream, down-stream, compensating services.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1356986 The Synthetic T2 Quality Control Chart and its Multi-Objective Optimization
Authors: Francisco Aparisi, Marco A. de Luna
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In some real applications of Statistical Process Control it is necessary to design a control chart to not detect small process shifts, but keeping a good performance to detect moderate and large shifts in the quality. In this work we develop a new quality control chart, the synthetic T2 control chart, that can be designed to cope with this objective. A multi-objective optimization is carried out employing Genetic Algorithms, finding the Pareto-optimal front of non-dominated solutions for this optimization problem.Keywords: Multi-objective optimization, Quality Control, SPC, Synthetic T2 control chart.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1559985 A Contribution to 3D Modeling of Manufacturing Tolerance Optimization
Authors: F. Sebaa, A. Cheikh, M. Rahou
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The study of the generated defects on manufactured parts shows the difficulty to maintain parts in their positions during the machining process and to estimate them during the pre-process plan. This work presents a contribution to the development of 3D models for the optimization of the manufacturing tolerances. An experimental study allows the measurement of the defects of part positioning for the determination of ε and the choice of an optimal setup of the part. An approach of 3D tolerance based on the small displacements method permits the determination of the manufacturing errors upstream. A developed tool, allows an automatic generation of the tolerance intervals along the three axes.Keywords: Manufacturing tolerances, 3D modeling, optimization, errors.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1573984 An Efficient Iterative Updating Method for Damped Structural Systems
Authors: Jiashang Jiang
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Model updating is an inverse eigenvalue problem which concerns the modification of an existing but inaccurate model with measured modal data. In this paper, an efficient gradient based iterative method for updating the mass, damping and stiffness matrices simultaneously using a few of complex measured modal data is developed. Convergence analysis indicates that the iterative solutions always converge to the unique minimum Frobenius norm symmetric solution of the model updating problem by choosing a special kind of initial matrices.
Keywords: Model updating, iterative algorithm, damped structural system, optimal approximation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2084983 Optimal Synthesis of Multipass Heat Exchanger without Resorting to Correction Factor
Authors: Bharat B. Gulyani, Anuj Jain, Shalendra Kumar
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Customarily, the LMTD correction factor, FT, is used to screen alternative designs for a heat exchanger. Designs with unacceptably low FT values are discarded. In this paper, authors have proposed a more fundamental criterion, based on feasibility of a multipass exchanger as the only criteria, followed by economic optimization. This criterion, coupled with asymptotic energy targets, provide the complete optimization space in a heat exchanger network (HEN), where cost-optimization of HEN can be performed with only Heat Recovery Approach temperature (HRAT) and number-of-shells as variables.Keywords: heat exchanger, heat exchanger networks, LMTD correction factor, shell targeting.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4324982 Feature Subset Selection Using Ant Colony Optimization
Authors: Ahmed Al-Ani
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Feature selection is an important step in many pattern classification problems. It is applied to select a subset of features, from a much larger set, such that the selected subset is sufficient to perform the classification task. Due to its importance, the problem of feature selection has been investigated by many researchers. In this paper, a novel feature subset search procedure that utilizes the Ant Colony Optimization (ACO) is presented. The ACO is a metaheuristic inspired by the behavior of real ants in their search for the shortest paths to food sources. It looks for optimal solutions by considering both local heuristics and previous knowledge. When applied to two different classification problems, the proposed algorithm achieved very promising results.Keywords: Ant Colony Optimization, ant systems, feature selection, pattern recognition.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1602981 Improving the Quantification Model of Internal Control Impact on Banking Risks
Authors: M. Ndaw, G. Mendy, S. Ouya
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Risk management in banking sector is a key issue linked to financial system stability and its importance has been elevated by technological developments and emergence of new financial instruments. In this paper, we improve the model previously defined for quantifying internal control impact on banking risks by automatizing the residual criticality estimation step of FMECA. For this, we defined three equations and a maturity coefficient to obtain a mathematical model which is tested on all banking processes and type of risks. The new model allows an optimal assessment of residual criticality and improves the correlation rate that has become 98%.Keywords: Risk, Control, Banking, FMECA.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1524980 Optimization of the Aerodynamic Performances of an Unmanned Aerial Vehicle
Authors: Fares Senouci, Bachir Imine
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This document provides numerical and experimental optimization of the aerodynamic performance of a drone equipped with three types of horizontal stabilizer. To build this optimal configuration, an experimental and numerical study was conducted on three parameters: the geometry of the stabilizer (horizontal form or reverse V form), the position of the horizontal stabilizer (up or down), and the landing gear position (closed or open). The results show that up-stabilizer position with respect to the horizontal plane of the fuselage provides better aerodynamic performance, and that the landing gear increases the lift in the zone of stability, that is to say where the flow is not separated.
Keywords: Aerodynamics, wind tunnel, turbulence model, lift, drag.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1273979 Design of a Reduced Order Robust Convex Controller for Flight Control System
Authors: S. Swain, P. S. Khuntia
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In this paper an optimal convex controller is designed to control the angle of attack of a FOXTROT aircraft. Then the order of the system model is reduced to a low-dimensional state space by using Balanced Truncation Model Reduction Technique and finally the robust stability of the reduced model of the system is tested graphically by using Kharitonov rectangle and Zero Exclusion Principle for a particular range of perturbation value. The same robust stability is tested theoretically by using Frequency Sweeping Function for robust stability.
Keywords: Convex Optimization, Kharitonov Stability Criterion, Model Reduction, Robust Stability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1720978 Optimal Assessment of Faulted Area around an Industrial Customer for Critical Sag Magnitudes
Authors: Marios N. Moschakis
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This paper deals with the assessment of faulted area around an industrial customer connected to a particular electric grid that will cause a certain sag magnitude on this customer. The faulted (critical or exposed) area’s length is calculated by adding all line lengths in the neighborhood of the critical node (customer). The applied method is the so-called Method of Critical Distances. By using advanced short-circuit analysis, the Critical Area can be accurately calculated for radial and meshed power networks due to all symmetrical and asymmetrical faults. For the demonstration of the effectiveness of the proposed methodology, a study case is used.
Keywords: Critical area, fault-induced voltage sags, industrial customers, power quality.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1646977 Singularity Loci of Actuation Schemes for 3RRR Planar Parallel Manipulator
Authors: S. Ramana Babu, V. Ramachandra Raju, K. Ramji
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This paper presents the effect of actuation schemes on the performance of parallel manipulators and also how the singularity loci have been changed in the reachable workspace of the manipulator with the choice of actuation scheme to drive the manipulator. The performance of the eight possible actuation schemes of 3RRR planar parallel manipulator is compared with each other. The optimal design problem is formulated to find the manipulator geometry that maximizes the singularity free conditioned workspace for all the eight actuation cases, the optimization problem is solved by using genetic algorithms.Keywords: Actuation schemes, GCI, genetic algorithms.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1626976 Stability of Electrical Drives Supplied by a Three Level Inverter
Authors: M. S. Kelaiaia, H. Labar, S. Kelaiaia, T. Mesbah
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The development of the power electronics has allowed increasing the precision and reliability of the electrical devices, thanks to the adjustable inverters, as the Pulse Wide Modulation (PWM) applied to the three level inverters, which is the object of this study. The authors treat the relation between the law order adopted for a given system and the oscillations of the electrical and mechanical parameters of which the tolerance depends on the process with which they are integrated (paper factory, lifting of the heavy loads, etc.).Thus, the best choice of the regulation indexes allows us to achieve stability and safety training without investment (management of existing equipment). The optimal behavior of any electric device can be achieved by the minimization of the stored electrical and mechanical energy.Keywords: Multi level inverter, PWM, Harmonics, oscillation, control.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1373975 Performance Management of Tangible Assets within the Balanced Scorecard and Interactive Business Decision Tools
Authors: Raymond K. Jonkers
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The present study investigated approaches and techniques to enhance strategic management governance and decision making within the framework of a performance-based balanced scorecard. The review of best practices from strategic, program, process, and systems engineering management provided for a holistic approach toward effective outcome-based capability management. One technique, based on factorial experimental design methods, was used to develop an empirical model. This model predicted the degree of capability effectiveness and is dependent on controlled system input variables and their weightings. These variables represent business performance measures, captured within a strategic balanced scorecard. The weighting of these measures enhances the ability to quantify causal relationships within balanced scorecard strategy maps. The focus in this study was on the performance of tangible assets within the scorecard rather than the traditional approach of assessing performance of intangible assets such as knowledge and technology. Tangible assets are represented in this study as physical systems, which may be thought of as being aboard a ship or within a production facility. The measures assigned to these systems include project funding for upgrades against demand, system certifications achieved against those required, preventive maintenance to corrective maintenance ratios, and material support personnel capacity against that required for supporting respective systems. The resultant scorecard is viewed as complimentary to the traditional balanced scorecard for program and performance management. The benefits from these scorecards are realized through the quantified state of operational capabilities or outcomes. These capabilities are also weighted in terms of priority for each distinct system measure and aggregated and visualized in terms of overall state of capabilities achieved. This study proposes the use of interactive controls within the scorecard as a technique to enhance development of alternative solutions in decision making. These interactive controls include those for assigning capability priorities and for adjusting system performance measures, thus providing for what-if scenarios and options in strategic decision-making. In this holistic approach to capability management, several cross functional processes were highlighted as relevant amongst the different management disciplines. In terms of assessing an organization’s ability to adopt this approach, consideration was given to the P3M3 management maturity model.
Keywords: Outcome based management, performance management, lifecycle costs, balanced scorecard.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1352974 Evaluation of the exIWO Algorithm Based On the Traveling Salesman Problem
Authors: Daniel Kostrzewa, Henryk Josiński
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The expanded Invasive Weed Optimization algorithm (exIWO) is an optimization metaheuristic modelled on the original IWO version created by the researchers from the University of Tehran. The authors of the present paper have extended the exIWO algorithm introducing a set of both deterministic and non-deterministic strategies of individuals’ selection. The goal of the project was to evaluate the exIWO by testing its usefulness for solving some test instances of the traveling salesman problem (TSP) taken from the TSPLIB collection which allows comparing the experimental results with optimal values.
Keywords: Expanded Invasive Weed Optimization algorithm (exIWO), Traveling Salesman Problem (TSP), heuristic approach, inversion operator.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2253973 Blood Glucose Measurement and Analysis: Methodology
Authors: I. M. Abd Rahim, H. Abdul Rahim, R. Ghazali
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There is numerous non-invasive blood glucose measurement technique developed by researchers, and near infrared (NIR) is the potential technique nowadays. However, there are some disagreements on the optimal wavelength range that is suitable to be used as the reference of the glucose substance in the blood. This paper focuses on the experimental data collection technique and also the analysis method used to analyze the data gained from the experiment. The selection of suitable linear and non-linear model structure is essential in prediction system, as the system developed need to be conceivably accurate.Keywords: Invasive, linear, near-infrared (Nir), non-invasive, non-linear, prediction system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 857972 Airliner-UAV Flight Formation in Climb Regime
Authors: Pavel Zikmund, Robert Popela
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Extreme formation is a theoretical concept of selfsustain flight when a big airliner is followed by a small UAV glider flying in the airliner wake vortex. The paper presents results of a climb analysis with the goal to lift the gliding UAV to airliners cruise altitude. Wake vortex models, the UAV drag polar and basic parameters and airliner’s climb profile are introduced at first. Afterwards, flight performance of the UAV in a wake vortex is evaluated by analytical methods. Time history of optimal distance between an airliner and the UAV during a climb is determined. The results are encouraging. Therefore available UAV drag margin for electricity generation is figured out for different vortex models.Keywords: Flight in formation, self-sustained flight, UAV, wake vortex.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1990971 Modeling the Impact of Controls on Information System Risks
Authors: M. Ndaw, G. Mendy, S. Ouya
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Information system risk management helps to reduce or eliminate risk by implementing appropriate controls. In this paper, we propose a quantification model of controls impact on information system risks by automatizing the residual criticality estimation step of FMECA which is based on a inductive reasoning. For this, we defined three equations based on type and maturity of controls. For testing, the values obtained with the model were compared to estimated values given by interlocutors during different working sessions and the result is satisfactory. This model allows an optimal assessment of controls maturity and facilitates risk analysis of information system.Keywords: Information System, Risk, Control, FMECA.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1577970 BTEX (Benzene, Toluene, Ethylbenzene and Xylene) Degradation by Cold Plasma
Authors: Anelise Leal Vieira Cubas, Marina de Medeiros Machado, Marília de Medeiros Machado
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The volatile organic compounds - BTEX (Benzene, Toluene, Ethylbenzene, and Xylene) petroleum derivatives, have high rates of toxicity, which may carry consequences for human health, biota and environment. In this directon, this paper proposes a method of treatment of these compounds by using corona discharge plasma technology. The efficiency of the method was tested by analyzing samples of BTEX after going through a plasma reactor by gas chromatography method. The results show that the optimal residence time of the sample in the reactor was 8 minutes.
Keywords: BTEX, Degradation, Cold plasma.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2733969 Face Recognition using Features Combination and a New Non-linear Kernel
Authors: Essam Al Daoud
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To improve the classification rate of the face recognition, features combination and a novel non-linear kernel are proposed. The feature vector concatenates three different radius of local binary patterns and Gabor wavelet features. Gabor features are the mean, standard deviation and the skew of each scaling and orientation parameter. The aim of the new kernel is to incorporate the power of the kernel methods with the optimal balance between the features. To verify the effectiveness of the proposed method, numerous methods are tested by using four datasets, which are consisting of various emotions, orientations, configuration, expressions and lighting conditions. Empirical results show the superiority of the proposed technique when compared to other methods.Keywords: Face recognition, Gabor wavelet, LBP, Non-linearkerner
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1540968 The Direct Updating of Damping and Gyroscopic Matrices using Incomplete Complex Test Data
Authors: Jiashang Jiang, Yongxin Yuan
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In this paper we develop an efficient numerical method for the finite-element model updating of damped gyroscopic systems based on incomplete complex modal measured data. It is assumed that the analytical mass and stiffness matrices are correct and only the damping and gyroscopic matrices need to be updated. By solving a constrained optimization problem, the optimal corrected symmetric damping matrix and skew-symmetric gyroscopic matrix complied with the required eigenvalue equation are found under a weighted Frobenius norm sense.
Keywords: Model updating, damped gyroscopic system, partially prescribed spectral information.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1787967 Overview of Risk Management in Electricity Markets Using Financial Derivatives
Authors: Aparna Viswanath
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Electricity spot prices are highly volatile under optimal generation capacity scenarios due to factors such as nonstorability of electricity, peak demand at certain periods, generator outages, fuel uncertainty for renewable energy generators, huge investments and time needed for generation capacity expansion etc. As a result market participants are exposed to price and volume risk, which has led to the development of risk management practices. This paper provides an overview of risk management practices by market participants in electricity markets using financial derivatives.
Keywords: Financial Derivatives, Forward, Futures, Options, Risk Management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2900966 Energy Consumption and Carbon Calculations of Microalgae Biodiesel
Authors: Tao Zhao, Zhao Liu, Changxin Zhao, Cui Mao
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At present, the severe oil crisis and greenhouse effect are booming, which is a growing worry for China. Over a long period of study, choosing the development of biological diesel is a feasible way in the desertification region in China. With considering the adaptability of Micro-algae in desertification region and analyzing energy consumption and carbon calculations of Micro-algae biodiesel produced by JJ company , this paper, make the microalgae our optimal choice to develop biological diesel in china's desertification region.
Keywords: Biodiesel, Microalgae, Energy Consumption, CarbonCalculations
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2275