Search results for: competitive energy market.

Authors: Perumal Nallagownden, Ravindra N. Mukerjee, Syafrudin Masri

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In a competitive energy market, system reliability should be maintained at all times. Power system operation being of online in nature, the energy balance requirements must be satisfied to ensure reliable operation the system. To achieve this, information regarding the expected status of the system, the scheduled transactions and the relevant inputs necessary to make either a transaction contract or a transmission contract operational, have to be made available in real time. The real time procedure proposed, facilitates this. This paper proposes a quadratic curve learning procedure, which enables a generator-s contribution to the retailer demand, power loss of transaction in a line at the retail end and its associated losses for an oncoming operating scenario to be predicted. Matlab program was used to test in on a 24-bus IEE Reliability Test System, and the results are found to be acceptable.

Keywords: Deregulation, learning coefficients, reliability, prediction, competitive energy market.

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Authors: F. Di Pillo, G. Capece, L. Cricelli, N. Levialdi

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The liberalization and privatization processes have forced public utility companies to face new competitive challenges, implementing strategies to gain market share and, at the same time, keep the old customers. To this end, many companies have carried out mergers, acquisitions and conglomerations in order to diversify their business. This paper focuses on companies operating in the free energy market in Italy. In the last decade, this sector has undergone profound changes that have radically changed the competitive scenario and have led companies to implement diversification strategies of the business. Our work aims to evaluate the economic and financial performances obtained by energy companies, following the beginning of the liberalization process, verifying the possible relationship with the implemented diversification strategies.

Keywords: Business diversification strategies, M&A, the Italian energy market liberalization, economic and financial performances.

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Authors: M. Chobotová, Ž. Rylková

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Time full of changes which is associated with globalization, tougher competition, changes in the structures of markets and economic downturn, that all force companies to think about their competitive advantages. These changes can bring the company a competitive advantage and that can help improve competitive position in the market. Policy of the European Union is focused on the fast growing innovative companies which quickly respond to market demands and consequently increase its competitiveness. To meet those objectives companies need the right conditions and support of their state.

Keywords: Innovation, performance, measurements metrics, indices.

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Authors: Nader Gharibnavaz, Naser Gharibnavaz

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This study extends research on the relationship between marketing strategy and market segmentation by investigating on market segments in the cement industry. Competitive strength and rivals distance from the factory were used as business environment. A three segment (positive, neutral or indifferent and zero zones) were identified as strategic segments. For each segment a marketing strategy (aggressive, defensive and decline) were developed. This study employed data from cement industry to fulfill two objectives, the first is to give a framework to the segmentation of cement industry and the second is developing marketing strategy with varying competitive strength. Fifty six questionnaires containing close-and open-ended questions were collected and analyzed. Results supported the theory that segments tend to be more aggressive than defensive when competitive strength increases. It is concluded that high strength segments follow total market coverage, concentric diversification and frontal attack to their competitors. With decreased competitive strength, Business tends to follow multi-market strategy, product modification/improvement and flank attack to direct competitors for this kind of segments. Segments with weak competitive strength followed focus strategy and decline strategy.

Keywords: Marketing strategy, Competitive strength, Market Segmentation

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Authors: Mateusz Rak

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Objective: The paper aims to present various sources of competitive advantage which may occur when an enterprise strategically applies its concept of corporate philanthropy. Methodology: The review of the literature and available reports on the research regarding corporate philanthropy. Results: Strategic philanthropy is a positive phenomenon. Unfortunately, enterprises in Poland do not see all positive sides of such activities yet. Three kinds of corporate philanthropy may be described. They are to fulfil a social duty, improve the company reputation and gain a competitive edge. Practical implications: Showing enterprises the advantages of taking philanthropic actions, in particular, a large role of strategic philanthropy in gaining a competitive edge in the market as well as how to avoid negative consequences of corporate philanthropy. The paper presents corporate philanthropy on a few layers: as a CSR element, actions generating values in products, actions improving a corporate image in the market, altruist actions of employees.

Keywords: Corporate philanthropy, corporate social responsibility, corporate foundations, CSR.

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Authors: Tugce Ercan

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This research study aims to identify the impact of two factors –growth and competitive strategies- on a set of building production innovation strategies. It was conducted a questionery survey to collect data from construction professionals and it was asked them the importance level of predicted innovation strategies for corporate strategies. Multiple analysis of variance (MANOVA) was employed to see the main and interaction effects of corporate strategies on building innovation strategies. The results indicate that growth strategies such as entering in a new a market or new project types has a greater effect on innovation strategies rather than competitive strategies such as cost leadership or differentiation strategies. However the interaction effect of competitive strategies and growth strategies on innovation strategies is much bigger than the only effect of competitive strategies. It was also analyzed the descriptive statistics of innovation strategies for different competitive and growth strategy types.

Keywords: competitive strategy, growth strategy, innovation, construction company, MANOVA

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Authors: P. Kanakasabapathy, Radhika. S,

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In the competitive electricity market environment, the profit of the pumped-storage plant in the energy market can be maximized by operating it as a generator, when market clearing price is high and as a pump, to pump water from lower reservoir to upper reservoir, when the price is low. An optimal self-scheduling plan has been developed for a pumped-storage plant, carried out on weekly basis in order to maximize the profit of the plant, keeping into account of all the major uncertainties such as the sudden ancillary service delivery request and the price forecasting errors. For a pumped storage power plant to operate in a real time market successive self scheduling has to be done by considering the forecast of the day-ahead market and the modified reservoir storage due to the ancillary service request of the previous day. Sliding Window Technique has been used for successive self scheduling to ensure profit for the plant.

Keywords: Ancillary services, BPSO, Power System Economics (Electricity markets), Self-Scheduling, Sliding Window Technique.

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Authors: S. C. Căescu, I. Dumitru

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The main objective of the paper has been represented by the identification of the changes that occurred in the competitive environment and their impact on the strategic marketing management of companies in B2B market. At Romania-s level there has not yet been done a similar research that studies change management in crises on business to business field. In order to answer to the paper-s objectives, a qualitative marketing research (in-depth structured interview) was conducted, within the top management of 27 companies in Romanian business to business field. The main results of the research highlight the necessity of a management of change, as a result of the crises, as follows: changes in the corporate objectives (from development objectives to maintaining objectives), changes market segmentation and in competitive advantages, changes at the level of market strategies and of the marketing mix.

Keywords: change management, competitive environment, marketing management strategies, strategic marketing.

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Authors: S. Doyle, G. A. Aggidis

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Wave energy converter technologies continue to show good progress in worldwide research. One of the most researched technologies, the Oscillating Water Column (OWC), is arguably one of the most popular categories within the converter technologies due to its robustness, simplicity and versatility. However, the versatility of the OWC is still largely untapped with most deployments following similar trends with respect to applications and operating systems. As the competitiveness of the energy market continues to increase, the demand for wave energy technologies to be innovative also increases. For existing wave energy technologies, this requires identifying areas to diversify for lower costs of energy with respect to applications and synergies or integrated systems. This paper provides a review of all OWCs systems integrated into alternative applications in the past and present. The aspects and variation in their design, deployment and system operation are discussed. Particular focus is given to the Multi-OWCs (M-OWCs) and their great potential to increase capture on a larger scale, especially in synergy applications. It is made clear that these steps need to be taken in order to make wave energy a competitive and viable option in the renewable energy mix as progression to date shows that stand alone single function devices are not economical. Findings reveal that the trend of development is moving toward these integrated applications in order to reduce the Levelised Cost of Energy (LCOE) and will ultimately continue in this direction in efforts to make wave energy a competitive option in the renewable energy mix.

Keywords: Ocean energy, wave energy, oscillating water column, renewable energy, review.

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Authors: E. Kharaishvili, M. Chavleishvili, M. Natsvaladze

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The article presents the trends in Georgian wine market development and evaluates the competitive advantages of Georgia to enter the wine market based on its customs, traditions and historical practices combined with modern technologies. In order to analyze the supply of wine, dynamics of vineyard land area and grape varieties are discussed, trends in wine production are presented, trends in export and import are evaluated, local wine market, its micro and macro environments are studied and analyzed based on the interviews with experts and analysis of initial recording materials. For strengthening its position on the international market, the level of competitiveness of Georgian wine is defined, which is evaluated by “ex-ante” and “ex-post” methods, as well as by four basic and two additional factors of the Porter’s diamond method; potential advantages and disadvantages of Georgian wine are revealed. Conclusions are made by identifying the factors that hinder the development of Georgian wine market. Based on the conclusions, relevant recommendations are developed.

Keywords: Georgian wine market, competitive advantage, bio wine, export-import, Porter's diamond model.

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Authors: Davinder Singh, Jaimal Singh Khamba, Tarun Nanda

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MSMEs are regarded as the sunrise sector of the Indian economy in view of its large potential for growth and likely socio economic impact specifically on employment and income generation. In today’s competitive business environment, global competition forces companies to continuously seek ways of improving their products and services. The pressure on organizations to adapt to new technologies and external threats requires resourcefulness, creativity and innovation. Market has become more open, competitive and customers more demanding. Without continuous technology innovation, no organization can ever remain competitive. Innovations reflect a critical way in which organizations respond to either technological or market challenges. The need of the market is to deliver high quality products through continuous changing in features in product, improve existing products, reduce their cost, and improve employee skills, training, technology infrastructure and financial policies. Therefore, the key factor of organization’s ability to change is innovation. The study presents a detailed review of literature on the role of technology innovation in improving manufacturing performance of industries.

Keywords: Competitive, Manufacturing performance, MSMEs, Technological Innovation.

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Authors: Mncedisi Trinity Dewa, Andre F. Van Der Merwe, Stephen Matope

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Tool, Die and Mould-making (TDM) firms have been known to play a pivotal role in the growth and development of the manufacturing sectors in most economies. Their output contributes significantly to the quality, cost and delivery speed of final manufactured parts. Unfortunately, the South African Tool, Die and Mould-making manufacturers have not been competing on the local or global market in a significant way. This reality has hampered the productivity and growth of the sector thus attracting intervention. The paper explores the shortcomings South African toolmakers have to overcome to restore their competitive position globally. Results from a global benchmarking survey on the tooling sector are used to establish a roadmap of what South African toolmakers can do to become a productive, World Class force on the global market.

Keywords: Competitive performance objectives, lead time, toolmakers, world-class manufacturing.

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Authors: Smajo Bisanovic, Mensur Hajro, Muris Dlakic

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This paper presents one comprehensive modelling approach for maintenance scheduling problem of thermal power units in competitive market. This problem is formulated as a 0/1 mixedinteger linear programming model. Model incorporates long-term bilateral contracts with defined profiles of power and price, and weekly forecasted market prices for market auction. The effectiveness of the proposed model is demonstrated through case study with detailed discussion.

Keywords: Maintenance scheduling, bilateral contracts, market prices, profit.

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Authors: Oluchukwu P. Obioma, Amarachi R. Dike

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Competition law promotes market competition by regulating anti-competitive conduct by undertakings. There is a need for a third party to regulate the market for efficiency and supervision, since, if the market is left unchecked, it may be skewed against the consumers and the economy. Competition law is geared towards the protection of consumers from economic exploitation. It is the duty of every rational government to optimally manage its economic system by employing the best regulatory practices over the market to ensure it functions effectively and efficiently. The Nigerian government has done this by enacting the Federal Competition and Consumer Protection Act, 2018 (FCCPA). This is a comprehensive legal framework with the objective of governing competition issues in Nigeria. Prior to its enactment, the competition law regime in Nigeria was grossly inadequate despite Nigeria being the biggest economy in Africa. This latest legislation has become a bold step in the right direction. This study will use the doctrinal methodology in analyzing the FCCPA, 2018 in order to discover the extent to which the Act will guard against anti-competitive practices and promote competitive markets for the benefit of the Nigerian economy and consumers. The study finds that although the FCCPA, 2018 provides for the regulation of competition in Nigeria, there is a need to effectively tackle the challenges to the implementation of the Act and the development of anti-trust jurisprudence in Nigeria. This study concludes that incisive implementation of competition law in Nigeria will help protect consumers and create a conducive environment for economic growth, development, and protection of consumers from obnoxious competition practices.

Keywords: Anti-competitive practices, competition law, competition regulation, consumer protection.

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Authors: M. Chavleishvili

Abstract:

The paper presents the trends of Georgian hazelnut market development and analyses the competitive advantages which will help Georgia to enter international hazelnut market using modern technologies. The history of hazelnut crop development and hazelnut varieties in Georgia are discussed. For hazelnut supply analysis trends in hazelnut production are considered, trends in export and import development is evaluated, domestic hazelnut market is studied and analysed based on expert interviews and initial accounting materials. In order to achieve and strengthen its position in international market, potential advantages and disadvantages of Georgian hazelnut are revealed, analysis of export and import possibilities of hazelnut is presented. Recommendations are developed based on the conclusions, which are made through identifying the key factors that hinder development of Georgian hazelnut market. 

Keywords: Hazelnut market, hazelnut export and import, competitiveness of hazelnut

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Authors: A. Badri

Abstract:

Restructured electricity markets may provide opportunities for producers to exercise market power maintaining prices in excess of competitive levels. In this paper an oligopolistic market is presented that all Generation Companies (GenCos) bid in a Cournot model. Genetic algorithm (GA) is applied to obtain generation scheduling of each GenCo as well as hourly market clearing prices (MCP). In order to consider network constraints a multiperiod framework is presented to simulate market clearing mechanism in which the behaviors of market participants are modelled through piecewise block curves. A mixed integer linear programming (MILP) is employed to solve the problem. Impacts of market clearing process on participants- characteristic and final market prices are presented. Consequently, a novel multi-objective model is addressed for security constrained optimal bidding strategy of GenCos. The capability of price-maker GenCos to alter MCP is evaluated through introducing an effective-supply curve. In addition, the impact of exercising market power on the variation of market characteristics as well as GenCos scheduling is studied.

Keywords: Optimal bidding strategy, Cournot equilibrium, market power, network constraints, market auction mechanism

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Authors: H. Rezvani, A. Hekmati

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Nowadays, the use of renewable energy sources has been increasingly great because of the cost increase and public demand for clean energy sources. One of the fastest growing sources is wind energy. In this paper, Wind Diesel Hybrid System (WDHS) comprising a Diesel Generator (DG), a Wind Turbine Generator (WTG), the Consumer Load, a Battery-based Energy Storage System (BESS), and a Dump Load (DL) is used. Voltage is controlled by Diesel Generator; the frequency is controlled by BESS and DL. The BESS elimination is an efficient way to reduce maintenance cost and increase the dynamic response. Simulation results with graphs for the frequency of Power System, active power, and the battery power are presented for load changes. The controlling parameters are optimized by using Imperialist Competitive Algorithm (ICA). The simulation results for the BESS/no BESS cases are compared. Results show that in no BESS case, the frequency control is more optimal than the BESS case by using ICA. 

Keywords: Renewable Energy, Wind Diesel System, Induction Generator, Energy Storage, Imperialist Competitive Algorithm.

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Authors: Durga Gautam, Mithulananthan Nadarajah

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This paper presents the influence of distributed generation (DG) on congestion and locational marginal price (LMP) in an optimal power flow (OPF) based wholesale electricity market. The problem of optimal placement to manage congestion and reduce LMP is formulated for the objective of social welfare maximization. From competitive electricity market standpoint, DGs have great value when they reduce load in particular locations and at particular times when feeders are heavily loaded. The paper lies on the groundwork that solution to optimal mix of generation and transmission resources can be achieved by addressing congestion and corresponding LMP. Obtained as lagrangian multiplier associated with active power flow equation for each node, LMP gives the short run marginal cost (SRMC) of electricity. Specific grid locations are examined to study the influence of DG penetration on congestion and corresponding shadow prices. The influence of DG on congestion and locational marginal prices has been demonstrated in a modified IEEE 14 bus test system.

Keywords: Congestion management, distributed generation, electricity market, locational marginal price, optimal power flow, social welfare.

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Authors: Haiyan Wang

Abstract:

Business interpreting talents are in badly need for local economic development, but currently there are problems of traditional business interpreting training mode in China. In view of the good opportunity for college business interpreters provided by international trading center development in Qingdao China and with the aim of being in line with market demand and enhancing business interpreters' employment competitive advantage, this paper aims to explore how to cultivate interdisciplinary business interpreting talents based on market demand.

Keywords: Interdisciplinary talents, business interpreting, market demand.

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Authors: Ziyad Aljarboua

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In this paper, we present a technical and an economic assessment of several sources of renewable energy in Saudi Arabia; mainly solar, wind, hydro and biomass. We analyze the environmental and climatic conditions in relation to these sources and give an overview of some of the existing clean energy technologies. Using standardized cost and efficiency data, we carry out a cost benefit analysis to understand the economic factors influencing the sustainability of energy production from renewable sources in light of the energy cost and demand in the Saudi market. Finally, we take a look at the Saudi petroleum industry and the existing sources of conventional energy and assess the potential of building a successful market for renewable energy under the constraints imposed by the flow of subsidized cheap oil. We show that while some renewable energy resources are well suited for distributed or grid connected generation in the kingdom, their viability is greatly undercut by the well developed and well capitalized oil industry.

Keywords: Energy strategy, energy policy, renewable energy, Saudi Arabia, oil.

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Authors: Ioannis P. Panapakidis, Marios N. Moschakis

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The Greek Energy Market is structured as a mandatory pool where the producers make their bid offers in day-ahead basis. The System Operator solves an optimization routine aiming at the minimization of the cost of produced electricity. The solution of the optimization problem leads to the calculation of the System Marginal Price (SMP). Accurate forecasts of the SMP can lead to increased profits and more efficient portfolio management from the producer`s perspective. Aim of this study is to provide a comparative analysis of various machine learning models such as artificial neural networks and neuro-fuzzy models for the prediction of the SMP of the Greek market. Machine learning algorithms are favored in predictions problems since they can capture and simulate the volatilities of complex time series.

Keywords: Deregulated energy market, forecasting, machine learning, system marginal price, energy efficiency and quality.

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Authors: Marin Mandić, Elis Sutlović, Tonći Modrić, Luka Stanić

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With the restructuring and deregulation of the power system, storage owners, generation companies or private producers can offer their multiple services on various power markets and earn income in different types of markets, such as the day-ahead, real-time, ancillary services market, etc. During the COVID-19 pandemic, electricity prices, as well as ancillary services prices, increased significantly. The optimization of the energy storage operation was performed using a suitable model for simulating the operation of a pumped storage hydropower plant under market conditions. The objective function maximizes the income earned through energy arbitration, regulation-up, regulation-down and spinning reserve services. The optimization technique used for solving the objective function is mixed integer linear programming (MILP). In numerical examples, the pumped storage hydropower plant operation has been optimized considering the already achieved hourly electricity market prices from Nord Pool for the pre-pandemic (2019) and the pandemic (2020 and 2021) years. The impact of the electricity market prices during the COVID-19 pandemic on energy storage operation is shown through the analysis of income, operating hours, reserved capacity and consumed energy for each service. The results indicate the role of energy storage during a significant fluctuation in electricity and services prices.

Keywords: Electrical market prices, electricity market, energy storage optimization, mixed integer linear programming, MILP, optimization.

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Authors: T. Niracharapa, W. Angkana

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Since information and communication technology (ICT) plays a critical role in enhancing national competitiveness, it is a driving force for social and economic growth and prosperity. The ASEAN Economic Community (AEC) will integrate this into ASEAN countries as a new mechanism and a measure that will improve economic performance as a global economy. Government policies may support or impede such harmonization. This study was to investigate, analyze the status of Thai IT entrepreneurs and define key strategies to enhance their competitive advantage. Data were collected based on in-depth interviews, questionnaires, focus groups, seminars and fieldwork on information technology excluding communication. SWOT was used as a tool to analyze the study. The results of this study can be used to enable the government to guide policy, measures and strategies for creating a competitive advantage for Thailand’s IT entrepreneurs in the global market.

Keywords: AEC, ASEAN, competitive advantage, IT entrepreneurs.

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Authors: Mei-Fang Wu, Shu-Li Wang, Feng-Tsung Cheng

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Highly developed technology and highly competitive global market highlight the important role of competitive advantages and operation performances in sustainable company operation. Activity-Based Costing (ABC) provides accurate operation cost and operation performance information. Rich literatures provide relevant research with cases study on Activity-Based Costing application, but the research on cause relationship between key success factors and its specific outcome, such as profitability or share market are few. These relationships provide the ways to handle the key success factors to achieve the specific outcomes for ensuring to promote the competitive advantages and operation performances. The main purposes of this research are exploring the key success paths by Key Success Paths approach which will lead the ways to apply Activity-Base Costing. The Key Success Paths is the innovative method which is exploring the cause relationships and explaining what are the effects of key success factors to specific outcomes of Activity-Based Costing implementation. The cause relationships between key success factors and successful specific outcomes are Key Success Paths (KSPs). KSPs are the guidelines to lead the cost management strategies to achieve the goals of competitive advantages and operation performances. The research findings indicate that good management system design may affect the well outcomes of Activity-Based Costing application and achieve to outstanding competitive advantage, operating performance and profitability as well by KSPs exploration.

Keywords: Activity-Based Costing, Key success factors, Key success paths approach, Key success paths, Key failure paths.

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Authors: M. F. Wu, F. T. Cheng, C. S. Wu, M. C. Tan

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It is a critical time to upgrade technology and increase value added with manufacturing skills developing and management strategies that will highly satisfy the customers need in the precision machinery global market. In recent years, the supply side, each precision machinery manufacturers in each country are facing the pressures of price reducing from the demand side voices that pushes the high-end precision machinery manufacturers adopts low-cost and high-quality strategy to retrieve the market. Because of the trend of the global market, the manufacturers must take price reducing strategies and upgrade technology of low-end machinery for differentiations to consolidate the market.By using six key success factors (KSFs), customer perceived value, customer satisfaction, customer service, product design, product effectiveness and machine structure quality are causal conditions to explore the impact of competitive advantage of the enterprise, such as overall profitability and product pricing power. This research uses key success paths (KSPs) approach and f/s QCA software to explore various combinations of causal relationships, so as to fully understand the performance level of KSFs and business objectives in order to achieve competitive advantage. In this study, the combination of a causal relationships, are called Key Success Paths (KSPs). The key success paths guide the enterprise to achieve the specific outcomes of business. The findings of this study indicate that there are thirteen KSPs to achieve the overall profitability, sixteen KSPs to achieve the product pricing power and seventeen KSPs to achieve both overall profitability and pricing power of the enterprise. The KSPs provide the directions of resources integration and allocation, improve utilization efficiency of limited resources to realize the continuous vision of the enterprise.

Keywords: Precision Machinery Industry, Key Success Factors (KSPs), Key Success Paths (KSPs), Overall Profitability, Product Pricing Power, Competitive Advantages.

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Authors: G.B. Nurlikhina, G.N. Azhimetova, R. M. Ashimova

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Currently, one of the main directions is developing of development based on the clustering of economic operations of Kazakhstan, providing for the organization and concentration of production capacity in one region or the most optimal system. In the modern economic literature clustering is regarded as one of the most effective tools to ensure competitive businesses, and improve their business itself.

Keywords: A cluster, food market, innovation cluster.

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Authors: Rawaa H. El-Bidweihy, Hisham M. Abdelsalam, Ihab A. El-Khodary

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Bayesian networks are now considered to be a promising tool in the field of energy with different applications. In this study, the aim was to indicate the states of a previous constructed Bayesian network related to the solar energy in Egypt and the factors affecting its market share, depending on the followed data distribution type for each factor, and using either the Z-distribution approach or the Chebyshev’s inequality theorem. Later on, the separate and the conditional probabilities of the states of each factor in the Bayesian network were derived, either from the collected and scrapped historical data or from estimations and past studies. Results showed that we could use the constructed model for scenario and decision analysis concerning forecasting the total percentage of the market share of the solar energy in Egypt by 2035 and using it as a stable renewable source for generating any type of energy needed. Also, it proved that whenever the use of the solar energy increases, the total costs decreases. Furthermore, we have identified different scenarios, such as the best, worst, 50/50, and most likely one, in terms of the expected changes in the percentage of the solar energy market share. The best scenario showed an 85% probability that the market share of the solar energy in Egypt will exceed 10% of the total energy market, while the worst scenario showed only a 24% probability that the market share of the solar energy in Egypt will exceed 10% of the total energy market. Furthermore, we applied policy analysis to check the effect of changing the controllable (decision) variable’s states acting as different scenarios, to show how it would affect the target nodes in the model. Additionally, the best environmental and economical scenarios were developed to show how other factors are expected to be, in order to affect the model positively. Additional evidence and derived probabilities were added for the weather dynamic nodes whose states depend on time, during the process of converting the Bayesian network into a dynamic Bayesian network.

Keywords: Bayesian network, Chebyshev, decision variable, dynamic Bayesian network, Z-distribution

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Authors: F. Gökgöz, M. E. Atmaca

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Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management in electricity market, Sharpe ratio.

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Authors: F. Gökgöz, M. E. Atmaca

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Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management, Sharpe ratio, value at risk.

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Authors: Faisal Asad Aburub

Abstract:

Many organizations are investing in web applications and technologies in order to be competitive, some of them could not achieve its goals. The quality of web-based applications could play an important role for organizations to be competitive. So the aim of this study is to investigate the impact of quality of web-based applications to achieve a competitive advantage. A new model has been developed. An empirical investigation was performed on a banking sector in Jordan to test the new model. The results show that impact of web-based applications on competitive advantage is significant. Finally, further work is planned to validate and evaluate the proposed model using several domains.

Keywords: Competitive advantage, web-based applications, empirical investigation.

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