Modern Portfolio Theory Applied to Electricity Resource Planning

To meet electricity demand, electric utilities develop growth strategies for generation, transmission, and distributions systems. For a long time those strategies have been developed by applying least-cost methodology, in which the cheapest stand-alone resources are simply added, instead of analyzing complete portfolios. As a consequence, least-cost methodology is biased in favor of fossil fuel-based technologies, completely ignoring the benefits of adding non-fossil fuel technologies to generation portfolios, especially renewable energies. For this reason, this thesis introduces modern portfolio theory (MPT) to gain a more profound insight into a generation portfolio’s performance using generation cost and risk metrics. We discuss all necessary assumptions and modifications to this finance technique for its application within power systems planning, and we present a real case of analysis. Finally, the results of this thesis are summarized, pointing out the main benefits and the scope of this new tool in the context of electricity generation planning.

Evaluating Water Temperature, Habitat and Fish Communities in Candidate Coolwater Streams in Illinois Annual Project Report 2010

Work during this reporting period focused on characterizing temperature, habitat, and biological communities at candidate coolwater sites. During the past year we have collected additional temperature data from 57 candidate streams and other locations and now have records from 232 stream reaches. Eighty-two sites in Illinois have been identified as cool- or coldwater based on these records. Physical habitat surveys have been conducted at 79 sites where temperature data were available. Fish and macroinvertebrate data were obtained from the cooperative basin survey program data managers for candidate sites whenever possible and added to collections made during previous project years. This report summarizes progress for the period beginning 1 October 2009 and ending 30 September 2010. Additional analyses are ongoing and will be presented in the final report upon completion of this project.