Optimisation of electricity energy markets and assessment of CO2 trading on their structure: A stochastic analysis of the Greek Power Sector

Tolis, AI; Rentizelas, AA; Tatsiopoulos, IP

dc.contributor.author	Tolis, AI	en
dc.contributor.author	Rentizelas, AA	en
dc.contributor.author	Tatsiopoulos, IP	en
dc.date.accessioned	2014-03-01T11:45:09Z
dc.date.available	2014-03-01T11:45:09Z
dc.date.issued	2010	en
dc.identifier.issn	1364-0321	en
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/37250
dc.subject	Power sector	en
dc.subject	Optimisation	en
dc.subject	Emissions trading	en
dc.subject	Stochastic forecast	en
dc.subject.classification	Energy & Fuels	en
dc.subject.other	REAL OPTIONS	en
dc.subject.other	UNCERTAINTY	en
dc.subject.other	MODEL	en
dc.title	Optimisation of electricity energy markets and assessment of CO2 trading on their structure: A stochastic analysis of the Greek Power Sector	en
heal.type	other	en
heal.identifier.primary	10.1016/j.rser.2010.07.012	en
heal.identifier.secondary	http://dx.doi.org/10.1016/j.rser.2010.07.012	en
heal.language	English	en
heal.publicationDate	2010	en
heal.abstract	Power production was traditionally dominated by monopolies. After a long period of research and organisational advances in international level, electricity markets have been deregulated allowing customers to choose their provider and new producers to compete the former Public Power Companies. Vast changes have been made in the European legal framework but still, the experience gathered is not sufficient to derive safe conclusions regarding the efficiency and reliability of deregulation. Furthermore, emissions' trading progressively becomes a reality in many respects, compliance with Kyoto protocol's targets is a necessity, and stability of the national grid's operation is a constraint of vital importance. Consequently, the production of electricity should not rely solely in conventional energy sources neither in renewable ones but on a mixed structure. Finding this optimal mix is the primary objective of the study. A computational tool has been created, that simulates and optimises the future electricity generation structure based on existing as well as on emerging technologies. The results focus on the Greek Power Sector and indicate a gradual decreasing of anticipated CO2 emissions while the socioeconomic constraints and reliability requirements of the system are met. Policy interventions are pointed out based on the numerical results of the model. (C) 2010 Elsevier Ltd. All rights reserved.	en
heal.publisher	PERGAMON-ELSEVIER SCIENCE LTD	en
heal.journalName	RENEWABLE & SUSTAINABLE ENERGY REVIEWS	en
dc.identifier.doi	10.1016/j.rser.2010.07.012	en
dc.identifier.isi	ISI:000282853500005	en
dc.identifier.volume	14	en
dc.identifier.issue	9	en
dc.identifier.spage	2529	en
dc.identifier.epage	2546	en