Impact of a price-maker pumped storage hydro unit on the integration of wind energy in power systems

The increasing integration of larger amounts of wind energy into power systems raises important operational issues, such as the balance between power generation and demand. The pumped storage hydro (PSH) units are one possible solution to mitigate this problem, once they can store the excess of energy in the periods of higher generation and lower demand. However, the behaviour of a PSH unit may differ considerably from the expected in terms of wind power integration when it operates in a liberalized electricity market under a price-maker context. In this regard, this paper models and computes the optimal PSH weekly scheduling in a price-taker and price-maker scenarios, either when the PSH unit operates in standalone and integrated in a portfolio of other generation assets. Results show that the price-maker standalone PSH will integrate less wind power in comparison with the price-taker situation. Moreover, when the PSH unit is integrated in a portfolio with a base load power plant, the role of the price elasticity of demand may completely change the operational profile of the PSH unit. (C) 2014 Elsevier Ltd. All rights reserved.

Strategies for price reduction of HIV medicines under a monopoly situation in Brazil

ABSTRACT OBJECTIVE To analyze Government strategies for reducing prices of antiretroviral medicines for HIV in Brazil. METHODS Analysis of Ministry of Health purchases of antiretroviral medicines, from 2005 to 2013. Expenditures and costs of the treatment per year were analyzed and compared to international prices of atazanavir. Price reductions were estimated based on the terms of a voluntary license of patent rights and technology transfer in the Partnership for Productive Development Agreement for atazanavir. RESULTS Atazanavir, a patented medicine, represented a significant share of the expenditures on antiretrovirals purchased from the private sector. Prices in Brazil were higher than international references, and no evidence was found of a relationship between purchase volume and price paid by the Ministry of Health. Concerning the latest strategy to reduce prices, involving local production of the 200 mg capsule, the price reduction was greater than the estimated reduction. As for the 300 mg capsule, the amounts paid in the first two years after the Partnership for Productive Development Agreement were close to the estimated values. Prices in nominal values for both dosage forms remained virtually constant between 2011 (the signature of the Partnership for Productive Development Agreement), 2012 and 2013 (after the establishment of the Partnership). CONCLUSIONS Price reduction of medicines is complex in limited-competition environments. The use of a Partnership for Productive Development Agreement as a strategy to increase the capacity of local production and to reduce prices raises issues regarding its effectiveness in reducing prices and to overcome patent barriers. Investments in research and development that can stimulate technological accumulation should be considered by the Government to strengthen its bargaining power to negotiate medicines prices under a monopoly situation.

Maximum-revenue tariff with different roles in a price-setting competition

Published also at Lecture Notes in Engineering and Computer Science

Price forecasting in the day-ahead Iberian electricity market using a conjectural variations Arima model

Price forecast is a matter of concern for all participants in electricity markets, from suppliers to consumers through policy makers, which are interested in the accurate forecast of day-ahead electricity prices either for better decisions making or for an improved evaluation of the effectiveness of market rules and structure. This paper describes a methodology to forecast market prices in an electricity market using an ARIMA model applied to the conjectural variations of the firms acting in an electricity market. This methodology is applied to the Iberian electricity market to forecast market prices in the 24 hours of a working day. The methodology was then compared with two other methodologies, one called naive and the other a direct forecast of market prices using also an ARIMA model. Results show that the conjectural variations price forecast performs better than the naive and that it performs slightly better than the direct price forecast.

Scheduling of a hydro producer considering head-dependency, price scenarios and risk-aversion

In this paper, a mixed-integer quadratic programming approach is proposed for the short-term hydro scheduling problem, considering head-dependency, discontinuous operating regions and discharge ramping constraints. As new contributions to earlier studies, market uncertainty is introduced in the model via price scenarios, and risk aversion is also incorporated by limiting the volatility of the expected profit through the conditional value-at-risk. Our approach has been applied successfully to solve a case Study based on one of the main Portuguese cascaded hydro systems, requiring a negligible computational time.

Desirable role in a price-setting international mixed duopoly

In this paper, we study the order of moves in a mixed international duopoly for differentiated goods, where firms choose whether to set prices sequentially or simultaneously. We discuss the desirable role of the public firm by comparing welfare among three games. We find that, in the three possible roles, the domestic public firm put a lower price, and then produces more than the foreign private firm.

Reason Maintenance Systems: Tools for Foundations-based Belief Revision

Dynamic and distributed environments are hard to model since they suffer from unexpected changes, incomplete knowledge, and conflicting perspectives and, thus, call for appropriate knowledge representation and reasoning (KRR) systems. Such KRR systems must handle sets of dynamic beliefs, be sensitive to communicated and perceived changes in the environment and, consequently, may have to drop current beliefs in face of new findings or disregard any new data that conflicts with stronger convictions held by the system. Not only do they need to represent and reason with beliefs, but also they must perform belief revision to maintain the overall consistency of the knowledge base. One way of developing such systems is to use reason maintenance systems (RMS). In this paper we provide an overview of the most representative types of RMS, which are also known as truth maintenance systems (TMS), which are computational instances of the foundations-based theory of belief revision. An RMS module works together with a problem solver. The latter feeds the RMS with assumptions (core beliefs) and conclusions (derived beliefs), which are accompanied by their respective foundations. The role of the RMS module is to store the beliefs, associate with each belief (core or derived belief) the corresponding set of supporting foundations and maintain the consistency of the overall reasoning by keeping, for each represented belief, the current supporting justifications. Two major approaches are used to reason maintenance: single-and multiple-context reasoning systems. Although in the single-context systems, each belief is associated to the beliefs that directly generated it—the justification-based TMS (JTMS) or the logic-based TMS (LTMS), in the multiple context counterparts, each belief is associated with the minimal set of assumptions from which it can be inferred—the assumption-based TMS (ATMS) or the multiple belief reasoner (MBR).

Maintenance of fire sprinkler systems based on the dynamic assessment of its condition

Safety is one of the major concerns of process safety engineers in most industrial facilities all over the world. To this scope, some events play an important role once the effect of their consequences can be assumed as totally undesirable. One of these events refers to the occurrence of a fire. Such event can result in catastrophic consequences for life, equipment, and continuity of activities or even leading to environmental damage. A fire protection equipment with low reliability means that this equipment are often unavailable and thus the risk of a fire increases. Maintenance of fire protection equipment is very important because this kind of systems is mostly in a dormant mode, which gives uncertainty about their operability when demanded in a real situation of fire. This article outlines the importance of tests, inspection, and maintenance operations in the context of a fire sprinkler system and proposes a methodology based on international standards and supported by test/inspection reports to correct the frequency of these actions according to the level of degradation of the components and regarding safety purposes. © 2015 American Institute of Chemical Engineers.

Study of a 9th century silver earrings set from Mikulčice: corrosion, conservation and maintenance

Dissertação apresentada na Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa para obtenção do grau de Mestre em Conservação e Restauro

Gestão de operações de um armazém

i Gestão de Operações de um armazém Patrícia Raquel Freitas Gomes Relatório de estágio apresentado ao Instituto Superior de Contabilidade e Administração do Porto para obtenção de Grau de Mestre em Logística Orientado por: Prof. Doutora Maria Teresa Ribeiro Pereira Coorientado por: Eng.º César Emanuel Marinho Carvalho Teixeira

Effects of hotel characteristics on room rates in Porto: a hedonic price approach

According to the hedonic price method, a price of a good is related with the characteristics or the services it provides. Within this framework, the aim of this study it is to examine the effect on room rates of different characteristics of hotels in and around the city of Porto, such as star category, size, room and service quality, hotel facilities and location. It was estimated a hedonic price function, using data for 51 hotels. The results enable to identify the attributes that are important to consumers and hoteliers and to which extent. This information can be used by hotel managers to define a price strategy and helpful in new investment decisions.

Demand Response Programs Definition Using Demand Price Elasticity to Define Consumers Aggregation for an Improved Remuneration Structure

The positioning of the consumers in the power systems operation has been changed in the recent years, namely due to the implementation of competitive electricity markets. Demand response is an opportunity for the consumers’ participation in electricity markets. Smart grids can give an important support for the integration of demand response. The methodology proposed in the present paper aims to create an improved demand response program definition and remuneration scheme for aggregated resources. The consumers are aggregated in a certain number of clusters, each one corresponding to a distinct demand response program, according to the economic impact of the resulting remuneration tariff. The knowledge about the consumers is obtained from its demand price elasticity values. The illustrative case study included in the paper is based on a 218 consumers’ scenario.

COLONIZATION AND LABORATORY MAINTENANCE OFAnopheles albimanus WIEDEMANN IN VENEZUELA

Anopheles albimanus is one of the main vectors of malaria in Central America and the Caribbean, based on its importance, there are previous reports of the successful colonization of this species in Latin America countries. Mosquitoes were collected in the Aragua State of Venezuela colonized in the laboratory, using a simple and efficient maintenance method. Based on life table calculations under well established laboratory conditions, the Survival Rate Probability was constant and always close to 1 in immature stages, the Reproductive Net Rate (Ro) was 3.83, the generation time (Tc) was 24.5 days and the Intrinsic Growth Rate (rm) was 0.0558. This is the first report of the colonization of A. albimanus in Venezuela.

Probabilistic maintenance and optimization strategies for deteriorating civil infrastructures

In developed countries, civil infrastructures are one of the most significant investments of governments, corporations, and individuals. Among these, transportation infrastructures, including highways, bridges, airports, and ports, are of huge importance, both economical and social. Most developed countries have built a fairly complete network of highways to fit their needs. As a result, the required investment in building new highways has diminished during the last decade, and should be further reduced in the following years. On the other hand, significant structural deteriorations have been detected in transportation networks, and a huge investment is necessary to keep these infrastructures safe and serviceable. Due to the significant importance of bridges in the serviceability of highway networks, maintenance of these structures plays a major role. In this paper, recent progress in probabilistic maintenance and optimization strategies for deteriorating civil infrastructures with emphasis on bridges is summarized. A novel model including interaction between structural safety analysis,through the safety index, and visual inspections and non destructive tests, through the condition index, is presented. Single objective optimization techniques leading to maintenance strategies associated with minimum expected cumulative cost and acceptable levels of condition and safety are presented. Furthermore, multi-objective optimization is used to simultaneously consider several performance indicators such as safety, condition, and cumulative cost. Realistic examples of the application of some of these techniques and strategies are also presented.

European Union emissions trading scheme impact on the Spanish electricity price during phase II and phase III implementation

The European Union Emissions Trading Scheme (EU ETS) is a cornerstone of the European Union's policy to combat climate change and its key tool for reducing industrial greenhouse gas emissions cost-effectively. The purpose of the present work is to evaluate the influence of CO2 opportunity cost on the Spanish wholesale electricity price. Our sample includes all Phase II of the EU ETS and the first year of Phase III implementation, from January 2008 to December 2013. A vector error correction model (VECM) is applied to estimate not only long-run equilibrium relations, but also short-run interactions between the electricity price and the fuel (natural gas and coal) and carbon prices. The four commodities prices are modeled as joint endogenous variables with air temperature and renewable energy as exogenous variables. We found a long-run relationship (cointegration) between electricity price, carbon price, and fuel prices. By estimating the dynamic pass-through of carbon price into electricity price for different periods of our sample, it is possible to observe the weakening of the link between carbon and electricity prices as a result from the collapse on CO2 prices, therefore compromising the efficacy of the system to reach proposed environmental goals. This conclusion is in line with the need to shape new policies within the framework of the EU ETS that prevent excessive low prices for carbon over extended periods of time.