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dc.contributor.author
Blanco, Gerardo
dc.contributor.author
Garces, Francisco Felipe
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dc.contributor.author
Olsina, Fernando Gabriel
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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
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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
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dc.subject.classification
Ingeniería Eléctrica, Ingeniería Electrónica e Ingeniería de la Información
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dc.subject.classification
INGENIERÍAS Y TECNOLOGÍAS
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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
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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
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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/
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