An integrated design approach to power systems : from power flows to electricity markets

Power system is at the brink of change. Engineering needs, economic forces and environmental factors are the main drivers of this change. The vision is to build a smart electrical grid and a smarter market mechanism around it to fulfill mandates on clean energy. Looking at engineering and economic issues in isolation is no longer an option today; it needs an integrated design approach. In this thesis, I shall revisit some of the classical questions on the engineering operation of power systems that deals with the nonconvexity of power flow equations. Then I shall explore some issues of the interaction of these power flow equations on the electricity markets to address the fundamental issue of market power in a deregulated market environment. Finally, motivated by the emergence of new storage technologies, I present an interesting result on the investment decision problem of placing storage over a power network. The goal of this study is to demonstrate that modern optimization and game theory can provide unique insights into this complex system. Some of the ideas carry over to applications beyond power systems.

Competitive issue of money & abolition of central banks

The aim of this work is to analyze the main characteristics of the current financial system and to investigate the arising of critical voices with respect this system. In particular, we analyze some historical facts that have been important in the creation of this financial order. We analyze the new digital currency, known as Bitcoin, as the basic ingredient in the formation of a new alternative and decentralized international financial system. In 10 years Bitcoin has expanded its influence to many economic activities. We also analyzed briefly the classic liberal theory that criticizes the intervention of governments in the markets. Finally, we consider relevant the arising of a group of countries (BRICS) that may challenge the current system where the position of USA is privileged.

Far-infrared emission and absorption by hot carriers in superlattices

Some of the earliest theoretical speculation, stimulated by the growth of semiconductor superlattices, focused on novel devices based on vertical transport through engineered band structures; Esaki and Tsu promised Bloch oscillators in narrow mini-band systems and Kazarinov and Suris contemplated electrically stimulated intersubband transitions as sources of infrared radiation. Nearly twenty years later these material systems have been perfected, characterized and understood and experiments are emerging that test some of these original concepts for novel submillimetre wave electronics. Here we describe recent experiments on intersubband emission in quantum wells stimulated by resonant tunnelling currents. A critical issue at this time is devising a way to achieve population inversion. Other experiments explore 'saturation' effects in narrow miniband transport. Thermal saturation may be viewed as a precursor to Bloch oscillation if the same effects can be induced with an applied electric field.

In-Situ Boron and Aluminum Doping and Their Memory Effects in 4H-SiC Homoepitaxial Layers Grown by Hot-Wall LPCVD

The in-situ p-type doping of 4H-SiC grown on off-oriented (0001) 4H-SiC substrates was performed with trimethylaluminum (TMA) and/or diborane (B2H6) as the dopants. The incorporations of Al and B atoms and their memory effects and the electrical properties of p-type 4H-SiC epilayers were characterized by secondary ion mass spectroscopy (SIMS) and Hall effect measurements, respectively. Both Al- and B-doped 4H-SiC epilayers were p-type conduction. It was shown that the profiles of the incorporated boron and aluminum concentration were in agreement with the designed TMA and B2H6 flow rate diagrams. The maximum hole concentration for the Al doped 4H-SiC was 3.52x10(20) cm(-3) with Hall mobility of about 1 cm(2)/Vs and resistivity of 1.6 similar to 2.2x10(-2) Omega cm. The heavily boron-doped 4H-SiC samples were also obtained with B2H6 gas flow rate of 5 sccm, yielding values of 0.328 Omega cm for resistivity, 5.3x10(18) cm(-3) for hole carrier concentration, and 7 cm(2)/VS for hole mobility. The doping efficiency of Al in SiC is larger than that of B. The memory effects of Al and B were investigated in undoped 4H-SiC by using SIMS measurement after a few run of doped 4H-SiC growth. It was clearly shown that the memory effect of Al is stronger than that of B. It is suggested that p-type 4H-SiC growth should be carried out in a separate reactor, especially for Al doping, in order to avoid the join contamination on the subsequent n-type growth. 4H-SiC PiN diodes were fabricated by using heavily B doped epilayers. Preliminary results of PiN diodes with blocking voltage of 300 V and forward voltage drop of 3.0 V were obtained.

Homoepitaxial growth and characterization of 4H-SiC epilayers by low-pressure hot-wall chemical vapor deposition

Horizontal air-cooled low-pressure hot-wall CVD (LP-HWCVD) system is developed to get high quality 4H-SiC epilayers. Homoepitaxial growth of 4H-SiC on off-oriented Si-face (0001) 4H-SiC substrates purchased from Cree is performed at a typical temperature of 1500 degrees C with a pressure of 40 Torr by using SiH4+C2H4+H-2 gas system. The surface morphologies and structural and optical properties of 4H-SiC epilayers are characterized with Nomarski optical microscope, atomic force microscopy (AFM), x-ray diffraction, Raman scattering, and low temperature photoluminescence (LTPL). The background doping of 32 pm-thick sample has been reduced to 2-5 x 10(15) cm(-3). The FWHM of the rocking curve is 9-16 arcsec. Intentional N-doped and B-doped 4H-SiC epilayers are obtained by in-situ doping of NH3 and B2H6, respectively. Schottky barrier diodes with reverse blocking voltage of over 1000 V are achieved preliminarily.

Growth and characterization of 4H-SiC by horizontal hot-wall CVD

4H-SiC layers have been homoepitaxially grown at 1500 degrees C with the use of a horizontal hot-wall chemical vapor deposition (CVD) system, which was built in the author's group. The typical growth rate was 2 mu m/h at a pressure of 40 Torr. The background donor concentration has been reduced to 2.3 x 10(15) cm(-3) during a prolonged growth run. It confirmed the idea that the high background concentration of thin films was caused by the impurities inside the susceptor and thermal insulator The FWHM of x-ray co-rocking curves show 9 similar to 15 aresecs in five different areas of a 32-mu m-thick 4H-SiC epilayer The free exciton peaks dominated in the near-band-edge low-temperature photoluminescence spectrum (LTPL), indicating high crystal quality.

Uniformity Investigation in 3C-SiC Epitaxial Layers Grown on Si Substrates by Horizontal Hot-Wall CVD

50mm 3C-SiC epilayers are grown on （100） and （111） Si substrates in a newly developed horizontal lowpressure hot-wall CVD reactor under different growth pressures and flow rates of H_2 carrier gas. The structure,electrical properties, and thickness uniformity of the 3C-SiC epilayers are investigated by X-ray diffraction （XRD） ,sheet resistance measurement, and spectroscopic ellipsometry. XRD patterns show that the 3C-SiC films have excellent crystallinity. The narrowest full widths at half maximum of the SIC（200） and （111） peaks are 0.41° and 0.21°, respectively. The best electrical uniformity of the 50mm 3C-SiC films obtained by sheet resistance measurement is 2.15%. A σ/mean value of ± 5.7% in thickness uniformity is obtained.

Structural evaluation of polycrystalline silicon thin films by hot-wire-assisted PECVD

Tungsten wires were introduced into a plasma-enhanced chemical vapor deposition (PECVD) system as a catalyzer: we name this technique 'hot-wire-assisted PECVD' (HW-PECVD). Under constant deposition pressure (p(g)), gas flow ratio and catalyzer position, the effects of the hot wire temperature (T-f) on the structural properties of the poly-Si films have been characterized by X-ray diffraction (XRD), Raman scattering and Fourier-transform infrared (FTIR) spectroscopy. Compared with conventional PECVD, the grain size, crystalline volume fraction (X-e) and deposition rate were all enhanced when a high T-f was used. The best poly-Si film exhibits a preferential (220) orientation, with a full width at half-maximum (FWHM) of 0.2 degrees. The Si-Si TO peak of the Raman scattering spectrum is located at 519.8 cm(-1) with a FWHM of 7.1 cm(-1). The X-c is 0.93. These improvements are mainly the result of promotion of the dissociation of SiH4 and an increase in the atomic H concentration in the gas phase. (C) 2001 Elsevier Science B.V. All rights reserved.

The impact of investor sentiment on stock returns in emerging markets. The case of Central European markets

This is an accepted manuscript of an article published by Taylor & Francis in Eastern European Economics on July 2015, available online: http://dx.doi.org/10.1080/00128775.2015.1079139

Transparency Proposals for European Sovereign Bond Markets

The debate over the possible extension of transparency regulation in Europe to include sovereign bonds has opened up a number of other issues in need of serious consideration. One such issue is the appropriateness of the entire infrastructure supporting the trading of European sovereign bonds. In recent years sovereign issuers have supported the development of an electronic inter-dealer market but have remained unconcerned with the opacity of dealer-to-customer trading. The degree of segmentation in this market is high relative to what exists in nearly all other financial markets. This paper explores why European sovereign bond markets have developed in such a segmented way and considers how this structure could be altered to improve transparency without adversely affecting liquidity, efficiency or the benefits enjoyed by primary dealers and issuers. It is suggested that the structure of the market could be improved greatly if the largest and most active investors were permitted access to the inter-dealer electronic trading platforms. This would solve a number of market imperfections and increase the proportion of market activity that is conducted in a transparent way. The paper argues that sovereign issuers in Europe have the means to provide incentives that would influence dealers to support reduced segmentation. Some practical examples of how this could be achieved are provided and the potential benefits are outlined.

Cool Rationalities and Hot Air: A Rhetorical Approach to Understanding Debates on Renewable Energy.

A key obstacle to the wide-scale development of renewable energy is that public acceptability of wind energy cannot be taken for granted when wind energy moves from abstract support to local implementation. Drawing on a case study of opposition to the siting of a proposed off-shore wind farm in Northern Ireland, we offer a rhetorical analysis of a series of representative documents drawn from government, media, pro- and anti-wind energy sources, which identifies and interprets a number of discourses of objection and support. The analysis indicates that the key issue in terms of the transition to a renewable energy economy has little to do with the technology itself. Understanding the different nuances of pro- and anti-wind energy discourses highlights the importance of thinking about new ways of looking at these conflicts. These include adopting a “conflict resolution” approach and “upstreaming” public involvement in the decision-making process and also the counter-productive strategy of assuming that objection is based on ignorance (which can be solved by information) or NIMBY thinking (which can be solved by moral arguments about overcoming “free riders”).

The notion of space in urban housing markets

O mercado imobiliário tem um papel importante nas economias modernas, tanto a nível macro como a nível micro. Ao nível macro, a construção de habitação representa um sector importante e influente na economia, com efeitos multiplicadores significativos sobre a produção e o emprego. Ao nível micro, uma residência representa o activo mais valioso da maioria dos indivíduos e uma parcela muito relevante da riqueza das famílias. Para estas, o custo e a qualidade das suas habitações influencia directa e indirectamente a sua qualidade de vida. A habitação é por isso mesmo um tema, que avaliado nas suas múltiplas dimensões, se caracteriza por ser bastante complexo, mas também ao mesmo tempo desafiante. De modo a delimitar o objecto de análise do trabalho de investigação, esta tese realça os aspectos de localização e distribuição espacial das habitações urbanas. Será desenvolvido um quadro conceptual e respectiva metodologia para a compreender a estrutura espacial da habitação urbana realçando os três aspectos fundamentais da análise espacial: heterogenidade espacial, dependência espacial e escala espacial. A metodologia, aplicada à área urbana de Aveiro e Ílhavo é baseada numa análise hedónica factorial de preços e na noção não geométrica do espaço. Primeiro, é fixada uma escala territorial e são definidos submercados habitacional. Posteriormente, quer a heterogeneidade quer a dependência espaciais são estudados utilizando métodos econométricos, sem considerar qualquer padrão fixo e conhecido de interações espaciais. Em vez disso, são desenvolvidos novos métodos,tendo como base o modelo hedónico factorial, para inferir sobre os potenciais drivers de difusão espacial no valor de uma habitação. Este modelo, foi aplicado a duas diferentes escalas espaciais, para compreender as preferências dos indivíduos em Aveiro ao escolher os seus locais de residencia, e como estas afectam os preços da habitação. O trabalho empírico, utilizando duas bases de dados de habitação distintas, aplicadas ao mercado de habitação de Aveiro mostram: i) em linha com a literatura, a dificuldade de definir submercados e compreender as inter-relações entre esses mercados; ii) a utilidade de uma abordagem híbrida, combinando análise factorial com regressão; iii) a importância fundamental que o efeito escala espacial desempenha no estudo da heterogeneidade e dos spillovers e, finalmente, iv) uma metodologia inovadora para analisar spillovers sem assumir aprioristicamente uma estrutura espacial específica de difusão espacial. Esta metodologia considera a matriz de pesos espaciais (W) desconhecida e estimatima as interações espaciais dentro e entre submercados habitação.

A decision-support system based on particle swarm optimization for multiperiod hedging in electricity markets

This paper proposes a particle swarm optimization (PSO) approach to support electricity producers for multiperiod optimal contract allocation. The producer risk preference is stated by a utility function (U) expressing the tradeoff between the expectation and variance of the return. Variance estimation and expected return are based on a forecasted scenario interval determined by a price range forecasting model developed by the authors. A certain confidence level is associated to each forecasted scenario interval. The proposed model makes use of contracts with physical (spot and forward) and financial (options) settlement. PSO performance was evaluated by comparing it with a genetic algorithm-based approach. This model can be used by producers in deregulated electricity markets but can easily be adapted to load serving entities and retailers. Moreover, it can easily be adapted to the use of other type of contracts.

MASCEM: electricity markets simulation with strategic agents

Electricity markets are complex environments, involving numerous entities trying to obtain the best advantages and profits while limited by power-network characteristics and constraints.1 The restructuring and consequent deregulation of electricity markets introduced a new economic dimension to the power industry. Some observers have criticized the restructuring process, however, because it has failed to improve market efficiency and has complicated the assurance of reliability and fairness of operations. To study and understand this type of market, we developed the Multiagent Simulator of Competitive Electricity Markets (MASCEM) platform based on multiagent simulation. The MASCEM multiagent model includes players with strategies for bid definition, acting in forward, day-ahead, and balancing markets and considering both simple and complex bids. Our goal with MASCEM was to simulate as many market models and player types as possible. This approach makes MASCEM both a short- and mediumterm simulation as well as a tool to support long-term decisions, such as those taken by regulators. This article proposes a new methodology integrated in MASCEM for bid definition in electricity markets. This methodology uses reinforcement learning algorithms to let players perceive changes in the environment, thus helping them react to the dynamic environment and adapt their bids accordingly.

A new approach for multi-agent coalition formation and management in the scope of electricity markets

This paper presents a new methodology for the creation and management of coalitions in Electricity Markets. This approach is tested using the multi-agent market simulator MASCEM, taking advantage of its ability to provide the means to model and simulate VPP (Virtual Power Producers). VPPs are represented as coalitions of agents, with the capability of negotiating both in the market, and internally, with their members, in order to combine and manage their individual specific characteristics and goals, with the strategy and objectives of the VPP itself. The new features include the development of particular individual facilitators to manage the communications amongst the members of each coalition independently from the rest of the simulation, and also the mechanisms for the classification of the agents that are candidates to join the coalition. In addition, a global study on the results of the Iberian Electricity Market is performed, to compare and analyze different approaches for defining consistent and adequate strategies to integrate into the agents of MASCEM. This, combined with the application of learning and prediction techniques provide the agents with the ability to learn and adapt themselves, by adjusting their actions to the continued evolving states of the world they are playing in.