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dc.contributor.author
Blanco, Gerardo  
dc.contributor.author
Garces, Francisco Felipe  
dc.contributor.author
Olsina, Fernando Gabriel  
dc.contributor.author
Rehtanz, Christian  
dc.date.available
2017-04-10T20:43:44Z  
dc.date.issued
2011-08  
dc.identifier.citation
Blanco, Gerardo; Garces, Francisco Felipe; Olsina, Fernando Gabriel; Rehtanz, Christian; Real option valuation of FACTS investments based on the least square Monte Carlo method; Institute Of Electrical And Electronics Engineers; Ieee Transactions On Power Systems; 26; 3; 8-2011; 1389-1398  
dc.identifier.issn
0885-8950  
dc.identifier.uri
http://hdl.handle.net/11336/15108  
dc.description.abstract
Efficient and well-timed investments in electric transmission networks that cope with the large ongoing power market uncertainties are currently an open issue of significant research interest. Strategic flexibility for seizing opportunities and cutting losses contingent upon an unfavorable unfolding of the long-term uncertainties is an attribute of enormous value when assessing irreversible investments. In this sense, flexible AC transmission systems (FACTS) devices appear as an effective manner of adding flexibility to the transmission expansion planning. This article proposes an investment valuation approach which properly assesses the option value of deferring transmission lines investments whereas gaining flexibility by investing in FACTS devices. The flexibility provided by FACTS investments—option to abandon and to relocate—is assessed through a real option valuation approach based on the novel least square Monte Carlo method. In order to illustrate the practicability of the proposed valuation approach, a traditional expansion strategy (lines) and a flexible investment strategy (lines and FACTS) are compared in a real study case. The article shows that a proper combination of lines and FACTS leads to efficient investments by allowing a progressive adaptation of the transmission grid to the changing scenarios.  
dc.format
application/pdf  
dc.language.iso
eng  
dc.publisher
Institute Of Electrical And Electronics Engineers  
dc.rights
info:eu-repo/semantics/openAccess  
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/  
dc.subject
Dynamic Programming  
dc.subject
Fexibility  
dc.subject
Risk Analysis  
dc.subject
Stochastic Simulation  
dc.subject
Transmission Planning  
dc.subject
Uncertainty  
dc.subject.classification
Ingeniería Eléctrica y Electrónica  
dc.subject.classification
Ingeniería Eléctrica, Ingeniería Electrónica e Ingeniería de la Información  
dc.subject.classification
INGENIERÍAS Y TECNOLOGÍAS  
dc.title
Real option valuation of FACTS investments based on the least square Monte Carlo method  
dc.type
info:eu-repo/semantics/article  
dc.type
info:ar-repo/semantics/artículo  
dc.type
info:eu-repo/semantics/publishedVersion  
dc.date.updated
2017-02-13T20:30:39Z  
dc.journal.volume
26  
dc.journal.number
3  
dc.journal.pagination
1389-1398  
dc.journal.pais
Estados Unidos  
dc.journal.ciudad
Nueva York  
dc.description.fil
Fil: Blanco, Gerardo. Universidad Nacional de Asuncion; Paraguay  
dc.description.fil
Fil: Garces, Francisco Felipe. Consejo Nacional de Investigaciones Cientificas y Tecnicas. Centro Cientifico Tecnologico San Juan. Instituto de Energia Electrica; Argentina  
dc.description.fil
Fil: Olsina, Fernando Gabriel. Consejo Nacional de Investigaciones Cientificas y Tecnicas. Centro Cientifico Tecnologico San Juan. Instituto de Energia Electrica; Argentina  
dc.description.fil
Fil: Rehtanz, Christian. Universitat Dortmund; Alemania  
dc.journal.title
Ieee Transactions On Power Systems  
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/http://dx.doi.org/10.1109/TPWRS.2010.2094211  
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/http://ieeexplore.ieee.org/document/5680996/