Credit risk measures: a case of renewable energy companies

The Basel III will have a significant impact on the European banking sector. In September 2010, supervisors of various countries adopted the new rules proposed by the prudential Committee on Banking Supervision to be applied to the business of credit institutions (hereinafter called ICs) in a phased manner from 2013, assuming to its full implementation by 2019. The purpose of this new regulation is to limit the excessive risk that these institutions took on the period preceding the global financial crisis of 2008. This new regulation is known in slang by Basel III. Depending on the requirement of Basel II for banks and their supervisors to assess the soundness and adequacy of internal risk measurement and credit management systems, the development of methodologies for the validation of internal and external evaluation systems is clearly an important issue . More specifically, there is a need to develop tools to validate the systems used to generate the parameters (such as PD, LGD, EAD and ratings of perceived risk) that serve as starting points for the IRB approach for credit risk. In this context, the work is composed of a number of approaches and tools used to evaluate the robustness of these elements IRB systems.

Modified particle swarm optimization for day-ahead distributed energy resources scheduling including vehicle-to-grid

Mestrado em Engenharia Electrotécnica – Sistemas Eléctricos de Energia

Determinação do teor de compostos aromáticos policíclicos de óleos minerais isolantes para transformadores

Mestrado em Engenharia Química - Ramo Optimização Energética na Indústria Química

Energy efficiency of quadruped gaits

This paper studies periodic gaits of quadruped locomotion systems. The purpose is to determine the best set of gait and locomotion variables during walking, for different robot velocities, based on two formulated performance measures. A set of experiments reveals the influence of the gait and locomotion variables upon the proposed indices, namely that the gait and the locomotion parameters should be adapted to the robot forward velocity.

Optimising the energy consumption on pultrusion process

This study is based on a previous experimental work in which embedded cylindrical heaters were applied to a pultrusion machine die, and resultant energetic performance compared with that achieved with the former heating system based on planar resistances. The previous work allowed to conclude that the use of embedded resistances enhances significantly the energetic performance of pultrusion process, leading to 57% decrease of energy consumption. However, the aforementioned study was developed with basis on an existing pultrusion die, which only allowed a single relative position for the heaters. In the present work, new relative positions for the heaters were investigated in order to optimise heat distribution process and energy consumption. Finite Elements Analysis was applied as an efficient tool to identify the best relative position of the heaters into the die, taking into account the usual parameters involved in the process and the control system already tested in the previous study. The analysis was firstly developed based on eight cylindrical heaters located in four different location plans. In a second phase, in order to refine the results, a new approach was adopted using sixteen heaters with the same total power. Final results allow to conclude that the correct positioning of the heaters can contribute to about 10% of energy consumption reduction, decreasing the production costs and leading to a better eco-efficiency of pultrusion process.

Estimating Effective Slowdown of Tasks in Energy-Aware Clouds

Consolidation consists in scheduling multiple virtual machines onto fewer servers in order to improve resource utilization and to reduce operational costs due to power consumption. However, virtualization technologies do not offer performance isolation, causing applications’ slowdown. In this work, we propose a performance enforcing mechanism, composed of a slowdown estimator, and a interference- and power-aware scheduling algorithm. The slowdown estimator determines, based on noisy slowdown data samples obtained from state-of-the-art slowdown meters, if tasks will complete within their deadlines, invoking the scheduling algorithm if needed. When invoked, the scheduling algorithm builds performance and power aware virtual clusters to successfully execute the tasks. We conduct simulations injecting synthetic jobs which characteristics follow the last version of the Google Cloud tracelogs. The results indicate that our strategy can be efficiently integrated with state-of-the-art slowdown meters to fulfil contracted SLAs in real-world environments, while reducing operational costs in about 12%.

Towards high-available and energy-efficient virtual computing environments in the cloud

Empowered by virtualisation technology, cloud infrastructures enable the construction of flexi- ble and elastic computing environments, providing an opportunity for energy and resource cost optimisation while enhancing system availability and achieving high performance. A crucial re- quirement for effective consolidation is the ability to efficiently utilise system resources for high- availability computing and energy-efficiency optimisation to reduce operational costs and carbon footprints in the environment. Additionally, failures in highly networked computing systems can negatively impact system performance substantially, prohibiting the system from achieving its initial objectives. In this paper, we propose algorithms to dynamically construct and readjust vir- tual clusters to enable the execution of users’ jobs. Allied with an energy optimising mechanism to detect and mitigate energy inefficiencies, our decision-making algorithms leverage virtuali- sation tools to provide proactive fault-tolerance and energy-efficiency to virtual clusters. We conducted simulations by injecting random synthetic jobs and jobs using the latest version of the Google cloud tracelogs. The results indicate that our strategy improves the work per Joule ratio by approximately 12.9% and the working efficiency by almost 15.9% compared with other state-of-the-art algorithms.

Saving energy in the GFRP pultrusion process

This study addresses to the optimization of pultrusion manufacturing process from the energy-consumption point of view. The die heating system of external platen heaters commonly used in the pultrusion machines is one of the components that contribute the most to the high consumption of energy of pultrusion process. Hence, instead of the conventional multi-planar heaters, a new internal die heating system that leads to minor heat losses is proposed. The effect of the number and relative position of the embedded heaters along the die is also analysed towards the setting up of the optimum arrangement that minimizes both the energy rate and consumption. Simulation and optimization processes were greatly supported by Finite Element Analysis (FEA) and calibrated with basis on the temperature profile computed through thermography imaging techniques. The main outputs of this study allow to conclude that the use of embedded cylindrical resistances instead of external planar heaters leads to drastic reductions of both the power consumption and the warm-up periods of the die heating system. For the analysed die tool and process, savings on energy consumption up to 60% and warm-up period stages less than an half hour were attained with the new internal heating system. The improvements achieved allow reducing the power requirements on pultrusion process, and thus minimize industrial costs and contribute to a more sustainable pultrusion manufacturing industry.

How to reduce energy consumption on pultrusion

The global warming due to high CO2 emission in the last years has made energy saving a global problem nowadays. However, manufacturing processes such as pultrusion necessarily needs heat for curing the resin. Then, the only option available is to apply all efforts to make the process even more efficient. Different heating systems have been used on pultrusion, however, the most widely used are the planar resistances. The main objective of this study is to develop another heating system and compares it with the former one. Thermography was used in spite of define the temperature profile along the die. FEA (finite element analysis) allows to understand how many energy is spend with the initial heating system. After this first approach, changes were done on the die in order to test the new heating system and to check possible quality problems on the product. Thus, this work allows to conclude that with the new heating system a significant reduction in the setup time is now possible and an energy reduction of about 57% was achieved.

Avaliação da eficiência energética e optimização de uma unidade de trigeração

Portugal é um país dependente da energia do exterior, devido à elevada percentagem de consumo de energia a partir de fontes primárias, como por exemplo o gasóleo. Para colmatar este cenário, têm vindo a criar-se incentivos para o uso de energias renováveis e para intensificação de medidas de eficiência energética, como os sistemas de cogeração, de forma a tornar os processos industriais nacionais mais autónomos e mais competitivos. O presente trabalho, centra-se na determinação do potencial térmico disponível na central de trigeração da empresa Monteiro, Ribas-Indústria, SA, com a finalidade de identificar a quantidade de energia não utilizada, com vista ao aproveitamento dessa mesma energia nos processos mais problemáticos da empresa. Verificou-se que a água líquida era a fonte de maior energia não aproveitada, representando cerca de 30%, relativamente à energia disponível na água de refrigeração que é de 1890 kW. Assim, perante este facto, fez-se um estudo em dois setores autónomos da empresa, o setor dos revestimentos e o setor dos componentes técnicos da borracha. Pretendeu-se propor medidas para melhorar os seus processos produtivos, aproveitando essa energia. Para o efeito foi projetado um permutador de calor de placas com necessidade energética de 131,4 MWh, no setor dos revestimentos e um permutador compacto no setor de produção de placas de borracha, necessitando de uma energia de 335,2 MWh. Face à energia disponível na central de trigeração, de 161,9 MWh, verifica-se que esta apenas poderá ser aproveitada no setor dos revestimentos. Para tornar este objetivo real, a empresa Monteiro, Ribas- Indústria, SA necessitaria de efetuar um investimento no total de 49.390€. Além disso, foi contabilizado o rendimento das caldeiras da central térmica e da cogeração, ambas pelo método direto, apresentando estas os valores de 72% e 42%, respectivamente.

Support System for Rational Use of Electric Energy

This paper presents the system developed to promote the rational use of electric energy among consumers and, thus, increase the energy efficiency. The goal is to provide energy consumers with an application that displays the energy consumption/production profiles, sets up consuming ceilings, defines automatic alerts and alarms, compares anonymously consumers with identical energy usage profiles by region and predicts, in the case of non-residential installations, the expected consumption/production values. The resulting distributed system is organized in two main blocks: front-end and back-end. The front-end includes user interface applications for Android mobile devices and Web browsers. The back-end provides data storage and processing functionalities and is installed in a cloud computing platform - the Google App Engine - which provides a standard Web service interface. This option ensures interoperability, scalability and robustness to the system.

The role of cultural mega events in the enhancement of city’s image attributes: differences between engaged and attendee participants

In a time of fierce competition between regions, an image serve as a basis to develop a strong sense of community, which fosters trust and cooperation that can be mobilized for regional growth. A positive image and reputation could be used in the promotional activities of the region benefiting all the stakeholders as a whole. Mega cultural events are frequently used to attract tourists and investments to a region, but also to enhance the city’s image. This study adopts a marketing/communication perspective of city’s image, and intends to explain how the image of the city is perceived by their residents. Specifically, we intend to compare the perceptions of residents that effectively participated in the Guimarães European Capital of Culture (ECOC) 2012 (engaged residents), and the residents that only assisted to the event (attendees). Several significant findings are reported and their implications for event managers and public policy administrators presented, along with the limitations of the study

A Hybrid Simulated Annealing approach to handle Energy Resource Management considering an intensive use of Electric Vehicles

The massification of electric vehicles (EVs) can have a significant impact on the power system, requiring a new approach for the energy resource management. The energy resource management has the objective to obtain the optimal scheduling of the available resources considering distributed generators, storage units, demand response and EVs. The large number of resources causes more complexity in the energy resource management, taking several hours to reach the optimal solution which requires a quick solution for the next day. Therefore, it is necessary to use adequate optimization techniques to determine the best solution in a reasonable amount of time. This paper presents a hybrid artificial intelligence technique to solve a complex energy resource management problem with a large number of resources, including EVs, connected to the electric network. The hybrid approach combines simulated annealing (SA) and ant colony optimization (ACO) techniques. The case study concerns different EVs penetration levels. Comparisons with a previous SA approach and a deterministic technique are also presented. For 2000 EVs scenario, the proposed hybrid approach found a solution better than the previous SA version, resulting in a cost reduction of 1.94%. For this scenario, the proposed approach is approximately 94 times faster than the deterministic approach.

Distributed Generation and Demand Response Dispatch for a Virtual Power Player Energy and Reserve Provision

Recent changes in the operation and planning of power systems have been motivated by the introduction of Distributed Generation (DG) and Demand Response (DR) in the competitive electricity markets' environment, with deep concerns at the efficiency level. In this context, grid operators, market operators, utilities and consumers must adopt strategies and methods to take full advantage of demand response and distributed generation. This requires that all the involved players consider all the market opportunities, as the case of energy and reserve components of electricity markets. The present paper proposes a methodology which considers the joint dispatch of demand response and distributed generation in the context of a distribution network operated by a virtual power player. The resources' participation can be performed in both energy and reserve contexts. This methodology contemplates the probability of actually using the reserve and the distribution network constraints. Its application is illustrated in this paper using a 32-bus distribution network with 66 DG units and 218 consumers classified into 6 types of consumers.

Transient Spaces: unsettling boundaries and norms at the cultural event Noc Noc, Guimarães, Portugal

Cities are increasingly expected to be creative, inventive and to exhibit intense expressivity. In the past decades many cities have experienced growing pressure to produce and stage cultural events of different sorts and to develop new strategies that optimize competitive advantages, in order to promote themselves and to boost and sell their image. Often these actions have relied on heavy public investment and major private corporation sponsoring, but it is not always clear or measured how successful and reproductive these investments have been. In the context of strained public finances and profound economic crisis of European peripheral countries, events that emerge from local communities and have low budgets, which manage to create significant fluxes of visitors and visibility, assume an increased interest. In order to reflect and sketch possible answers, we look to an emerging body of literature concerning creative cities, and we focus on the organisation of a particular cultural event and its impact and assimilation into a medium size Portuguese city. This paper looks at the two editions (2011 and 2012) of one of such events – Noc Noc – organized by a local association in the city of Guimarães, Portugal. Inspired by similar events, Noc Noc is based on creating transient spaces of culture which are explored by artists and audiences, by transforming numerous homes into ephemeral convivial and playful social ‘public’ environments. The event is based on a number of cultural venues/homes scattered around the old and newer city, which allows for an informal urban exploration and an autonomous rambling and getting lost along streets. This strategy not only disrupts the cleavages between public and private space permitting for various transgressions, but it also disorders normative urban experiences and unsettles the dominant role of the city council as the culture patron of the large majority of events. Guimarães, an UNESCO World Heritage City was the European Capital of Culture in 2012, with a public investment of roughly 73 million euro. By interviewing a sample of people who have hosted these transitory art performances and exhibitions, sometimes doubling as artists, the events’ organizers and by experience both editions of the event, this paper illustrates how urban citizens’ engagement and motivations in a low budget cultural event can strengthen community ties. Furthermore, it also questions the advantages of large scale high budget events, and how this event may be seen as unconscious counter movement against a commodification of cultural events and everyday urban experience at large, engaging with the concepts of staging and authenticity.