No final do século XX, observa-se uma tendência mundial de desestatização dos serviços públicos prestados diretamente pelo Estado, que se mostrava ineficiente em atender adequadamente às necessidades básicas dos cidadãos. Seguindo essa tendência, o setor elétrico brasileiro que acumulava dívidas bilionárias passou por uma completa reformulação a partir dos anos 90, consistente em um amplo processo de desestatização, com a desverticalização das atividades de geração, distribuição, transmissão e comercialização e a criação de mecanismos regulatórios de eficiência e competição. Com a criação do segmento de comercialização, os serviços de energia elétrica que eram prestados sob o regime público passaram a ser prestados também pela iniciativa privada, por meio de contratos de compra e venda de energia elétrica. Em que pese parte da doutrina clássica administrativista negar o regime privado aplicável aos serviços de energia elétrica, o presente estudo demonstra o caráter privado dos contratos de compra e venda de energia elétrica celebrados no Ambiente Livre de Contratação. Após convalidar a tese de constitucionalidade da comercialização de energia elétrica sob o prisma do direito privado, conclui-se que a energia elétrica tem natureza jurídica de bem móvel e pode perfeitamente ser objeto de contratos privados de compra e venda, com forte regulação estatal, considerando o interesse coletivo subjacente a esse bem considerado essencial. Sob a ótica do direito privado, analisamos os elementos essenciais que compõem o contrato de compra e venda e sua adequação à comercialização da energia elétrica para, ao final, corroborar a tese de que a energia elétrica é objeto de contratos privados e como tal devem ser respeitados e resistir às investidas dos Poderes legislativo, regulatório e judiciário na tentativa de desnaturar elementos desse tipo contratual. / At the end of the twentieth century, there was a global trend of privatizing public services that were rendered directly by the State, who was inefficient at addressing properly the citizens\' basic needs. Following such trend, the Brazilian electric sector, that had a billionaire debt, went through a complete restructure in the 90\'s that resulted in the privatization of the electricity generation, transmission, distribution and trading activities, as well as in the creation of regulatory mechanisms that incentivized efficiency and competition. By creating the trading activities, the electricity services that were rendered exclusively under a public regime started being rendered also by private parties, through power purchase agreements. Although part of the classic doctrine denies that the private regime may be applicable to the electricity services, this study shows that power purchase agreements executed in the Free Purchasing Environment are private. After confirming the theory that trading electricity under the private regime is constitutional, I conclude that electricity is a movable good and may perfectly be subject of private power purchase agreements, with a strong state regulation due to the public interest and essential characteristic of such good. Under the private law approach, I analyzed the basic elements of a power purchase agreement so as to, at the end, confirm the theory that electricity may be traded under private agreements and, as such, must prevail to any action of the Legislative, Regulatory and Judiciary Powers, against the elements of this kind of contract.

Den globala utvecklingen som pågått sedan 1950-talet har resulterat i drastiska klimatförändringar vilket orsakat allvarliga miljöproblem. Dessa miljöproblem beror till stor del på en kraftig befolkningstillväxt. Befolkningstillväxten är starkt förknippad med ökade energibehov vilket ställer högre krav på hur energin produceras för att minska avtrycket på miljön. Ett tydligt steg i rätt riktning är tillämpningen av förnyelsebara energikällor. På den svenska marknaden är solkraft den energikälla som vuxit kraftigast de senaste åren. En av anledningarna till den kraftiga tillväxten är de statliga stimulanserna som givits. Sedan 2021 har de statliga stöden samtidigt dragits in vilket i synnerhet drabbar företag, däribland kommersiella fastighetsägare. Samtidigt kan det fortfarande finnas motiv för att investera i solceller, tack vare de positiva kostnadseffekter som en investering kan medföra. Det finns samtidigt oklarheter kring hur denna typ av investering påverkar värdet på fastigheter. Baserat på detta är studiens syfte att undersöka hur investeringar i solceller påverkar det ekonomiska värdet på kommersiella fastigheter samt hur detta värde maximeras med avseende på dimensionering respektive finansiering. Tidigare forskning inom området indikerar att det i huvudsak finns positiva samband mellan investeringar i solceller och värdet på fastigheter. Samtidigt berör dessa studier bostadsfastigheter på den internationella marknaden. Det finns således en begränsad forskning kring hur investeringar i solceller påverkar värdet på kommersiella fastigheter, inte minst på den svenska marknaden. För att uppfylla studiens syfte tillämpades, i första hand, en kvantitativ flerfallsstudie där 8 fastighetsobjekt undersöktes. Den kvantitativa data som samlades in om dessa objekt låg till grund för värderingen av dessa fastigheter. Värderingen, som baserades på “discounted cash flow method”, tillämpades för att tydliggöra hur värdet på fastigheterna förändrades i relation till ett ursprungsläge före en investering. Det kvantitativa metodvalet kombinerades med kvalitativa intervjuer vars syfte var att få en djupare förståelse om hur värdet på kommersiella fastigheter maximeras med avseende på dimensionering. Intervjuerna hade även för avsikt att verifiera de kvantitativa resultaten som genererades från fallstudien. Studiens resultat påvisar ett starkt samband mellan det ekonomiska värdet på kommersiella fastigheter och investeringar i solceller. Hur mycket fastighetsvärdet påverkas beror i stor utsträckning på hur investeringen finansieras samt hur lång analystid som beaktas. Bortsett från analystid tyder studiens resultat på att fastighetsvärdet i genomsnitt ökar 1,71% vid en direktfinansiering och 1,12% när investeringen görs i form av ett “power purchase agreement”. Samtidigt påvisar de kvalitativa resultaten att dimensioneringen av solcellsanläggningar bör göras utifrån den individuella fastighetens behov i termer av egenanvändning och total elanvändning. För att maximera egenanvändningen och därmed också fastighetsvärdet behöver dimensioneringen, ur et praktiskt perspektiv, ta hänsyn till den tillgängliga takytan, takets lutning samt takets väderstreck. / The global development, which has been going on since the 1950s, has resulted in drastic climate changes, which has caused serious environmental issues. These environmental issues are mainly caused by a strong population growth. The population growth is participially associated with increased energy needs, which sets higher requirements on how energy is produced, in order to reduce the impact on the environment. A step in the right direction is the application of renewable energy sources. In the Swedish market, solar power has been the fastest growing energy source in recent years. One of the reasons for this growth has been the stimulations offered by the government. Since 2021, the stimulations have been withdrawn which particularly affects companies, including commercial property owners. However, there may still be motives for investing in solar cells, thanks to the positive cost effects that an investment may bring. At the same time, there are uncertainties about how much this type of investment can affect the property value. Based on that, the purpose of this study is to investigate how investments in solar cells affect the economic value of commercial properties and how this value can be maximized with respect to dimensioning and financing, respectively. Previous research within this field indicates that there are positive relationships between investments in solar cells and the value of properties. At the same time, these studies concern residential properties on the international market. Based on this, there is limited research on how investments in solar cells affect the value of commercial properties, especially in the Swedish market. To fulfill the purpose of the study, a quantitative multiple-case study was applied, in which 8 real estate objects were examined. The quantitative data collected about these objects was the basis for the valuation of the properties. The valuation, which was based on a discounted cash flow method, was applied to clarify how the value of the properties changed in relation to a scenario before an investment was made. The quantitative method was combined with qualitative interviews whose purpose was to get a deeper understanding of how the value of commercial properties is maximized with respect to dimensioning. The interviews were also intended to verify the quantitative results generated from the case study. The results of the study indicate a strong relationship between the economic value of commercial properties and investments in solar cells. How much the property value is affected depends to a considerable extent on how the investment is financed and how long analysis time is considered. Apart from the analysis time, the results of the study indicate that the property value increases on average by 1.71% in case of direct financing and 1.12% when the investment is financed as a power purchase agreement. At the same time, the qualitative results indicate that the dimensioning of a solar cell system should be done based on the individual property needs, in terms of self-use and total electricity consumption. To maximize the self-usage, and thereby also the property value, the dimensioning needs to consider the available roof surface, the slope of the roof and the latitude of the roof.

Generators bid into the deregulated electricity market in order to get committed & dispatched for meeting demands. In order to maximize their revenues & minimize the cost, systematic planning of the resources and analyzing the results is crucial to the success of any generation utility. UPLAN Network Power Model provides a convenient way to model & simulate the different expected conditions related to transmission, fuel costs & other variables which are of significant importance for generation planning and also allows us to analyze the way the output variables like capacity factors of generators, prices for Energy and Ancillary Services are affected by them. Based on a very simple model, this report describes the typical approach to UPLAN based resources planning & analyzes the significance of the results. Before that it also tried to understand the way UPLAN works for a very simple three bus model by stepwise introduction of complexity & analysis of results of the simulation runs. A few other issues like the Power Purchase Agreements, Congestion & Congestion Revenue Rights & the way Electricity is traded in the Deregulated Market are also presented. / text

With the increasing volatility on electricity markets and a growing emphasis on sustainability, renewable electricity has gained significant attention from corporate entities seeking to secure their green energy supply. Among the various methods available for securing green electricity, one method on the rise is Power Purchase Agreements (PPA). The purpose of entering a PPA from a generator perspective is to secure future revenues and from an offtaker perspective it is to secure future electricity costs. This research aims to assess the feasibility of PPAs as a green electricity sourcing method for a large industrial company with specific requirements. The research comprises a case study focused on a specific company. It involves qualitative interviews with nine company representatives, analysis of internal documents, and a review of relevant literature on PPAs. Additionally, four external experts knowledgeable about the company's electricity sourcing method and the PPA market were interviewed. This approach provides insights into the company's practices and ensures a comprehensive understanding of PPAs. The study demonstrates that PPAs can be structured in various ways. To organize the results and strengthen the arguments and conclusions drawn, Kraljic's sourcing framework has been utilized. Importantly, the findings indicate that implementing a PPA is a highly viable green electricity sourcing method for the company given their current structure andmission for the future. The findings suggest that adopting a PPA to source green electricity can be a viable option for companies if they prioritize renewable electricity,value price predictability highly, and can leverage the agreement for sustainability and marketing efforts. It is important to note that while the risks associated with a PPA can be mitigated to a large extent through a price premium, it is crucial to tailor the PPA setup to align with the specific needs of the company. Furthermore, it would be intriguing for the research community to investigate or propose an optimal PPA structure that maximizes benefits for both sides of the value chain, considering the interdependence highlighted in this study. / Med den ökande volatiliteten på elmarknaderna och det växande fokuset på hållbarhet har förnybar el fått betydande uppmärksamhet från företag som vill säkra sin framtida gröna energiförsörjning. Bland de olika metoderna för att säkra grön elförsörjning har en metod blivit allt vanligare, nämligen Power Purchase Agreement (PPA). Syftet med att ingå en PPA ur en generators perspektiv är att säkra framtida intäkter, och från ett bolags perspektiv är det att säkra framtida elkostnader. Denna forskning syftar till att bedöma genomförbarheten av PPAs som en metod för att säkra grön el för ett stort industrielltföretag med specifika krav. Undersökningen omfattar en fallstudie fokuserad på ett specifikt företag. Den innefattar kvalitativa intervjuer med nio representanter från företaget, analys av interna dokument och en översikt av relevant litteratur om PPAs. Dessutom intervjuades fyra externa experter som har kunskap om företagets nuvarande strategi gällande elförsörjningen och PPA-marknaden. Denna ansats ger insikter i företagets verksamhet och säkerställer en omfattande förståelse för PPAs. Studien visar att PPAs kan struktureras på olika sätt. För att organisera resultaten och stärka argument och slutsatser har Kraljics inköpsramverk använts. Resultaten indikerar att införandet av en PPA är en mycket genomförbar metod för att säkra grön el för företaget med hänsyn till deras nuvarande struktur och framtida målsättningar. Resultaten antyder att användning av en PPA för att förse sig med grön el kan vara genomförbart för ett företag om de prioriterar förnybar el, värderar prisförutsägbarhet högt och kan dra nytta av avtalet för hållbarhets- och marknadsföringsinsatser. Det är viktigt att notera att medan riskerna med en PPA till stor del kan minskas genom att betala ett prispåslag, är det avgörande att skräddarsy PPA-upplägget för att passa företagets specifika behov. Vidare skulle det vara intressant för forskarsamhället att undersöka eller föreslå en optimal PPA-struktur som maximerar fördelarna för båda sidor av värdekedjan med tanke på det beroendeförhållande som lyfts fram i denna studie.

More efficient technologies, state laws as well as environmental, social, and political pressures have all contributed to placing solar acquisition on the agenda for California’s public entities over the last half decade. But a key question for these frequently cash-strapped jurisdictions is how to utilize public dollars and lands, and how to leverage incentives to obtain solar PVs. As an alternative to outright purchase, a promising financing option made available to jurisdictions in recent years is ownership by a third party, usually the solar company, including various forms of Power Purchase Agreements (PPA’s) and leasing. Due in part to state and federal incentives available between 2007 and 2012, these third-party provider (TPP) options have been used with increasing frequency; TPP arrangements accounted for “virtually all” larger and mid-size non-residential installations in 2008 (Sherwood 2008). A number of California’s early adopters of third-party financing have installations that have now been operational for several years. Consequently, there is a new opportunity to evaluate third-party financing effectiveness. This thesis reviews solar acquisition practices in California over the last six years, comparing financing options through document analysis and feedback from jurisdiction staff. It finds that directly buying installations has provided a slight advantage in direct savings and overall satisfaction for jurisdictions on average, but success generally depends upon the jurisdiction having secured upfront capital, usually from successfully accessing very low-interest loans or large grants. TPP projects have provided a good alternative to direct purchase, resulting in significant savings and positive reviews from jurisdictions, allowing them to invest in larger installation sizes, and to meet local policy goals or mandates. Additionally, this thesis makes observations about the limitations for installation sizing, impacts of siting on savings, tips for selecting a solar installer, the benefits of cooperative procurement arrangements, and the relative importance of existing and expired monetary incentives available for solar from 2006 through 2020.

The design of hydropower projects requires a comprehensive planning process in order to achieve the objective to maximise exploitation of the existing hydropower potential as well as future revenues of the plant. For this purpose and to satisfy approval requirements for a complex hydropower development, it is imperative at planning stage, that the conceptual development contemplates a wide range of influencing design factors and ensures appropriate consideration of all related aspects. Since the majority of technical and economical parameters that are required for detailed and final design cannot be precisely determined at early planning stages, crucial design parameters such as design discharge and hydraulic head have to be examined through an extensive optimisation process. One disadvantage inherent to commonly used deterministic analysis is the lack of objectivity for the selection of input parameters. Moreover, it cannot be ensured that the entire existing parameter ranges and all possible parameter combinations are covered. Probabilistic methods utilise discrete probability distributions or parameter input ranges to cover the entire range of uncertainties resulting from an information deficit during the planning phase and integrate them into the optimisation by means of an alternative calculation method. The investigated method assists with the mathematical assessment and integration of uncertainties into the rational economic appraisal of complex infrastructure projects. The assessment includes an exemplary verification to what extent the Random Set Theory can be utilised for the determination of input parameters that are relevant for the optimisation of hydropower projects and evaluates possible improvements with respect to accuracy and suitability of the calculated results. / Die Auslegung von Wasserkraftanlagen stellt einen komplexen Planungsablauf dar, mit dem Ziel das vorhandene Wasserkraftpotential möglichst vollständig zu nutzen und künftige, wirtschaftliche Erträge der Kraftanlage zu maximieren. Um dies zu erreichen und gleichzeitig die Genehmigungsfähigkeit eines komplexen Wasserkraftprojektes zu gewährleisten, besteht hierbei die zwingende Notwendigkeit eine Vielzahl für die Konzepterstellung relevanter Einflussfaktoren zu erfassen und in der Projektplanungsphase hinreichend zu berücksichtigen. In frühen Planungsstadien kann ein Großteil der für die Detailplanung entscheidenden, technischen und wirtschaftlichen Parameter meist nicht exakt bestimmt werden, wodurch maßgebende Designparameter der Wasserkraftanlage, wie Durchfluss und Fallhöhe, einen umfangreichen Optimierungsprozess durchlaufen müssen. Ein Nachteil gebräuchlicher, deterministischer Berechnungsansätze besteht in der zumeist unzureichenden Objektivität bei der Bestimmung der Eingangsparameter, sowie der Tatsache, dass die Erfassung der Parameter in ihrer gesamten Streubreite und sämtlichen, maßgeblichen Parameterkombinationen nicht sichergestellt werden kann. Probabilistische Verfahren verwenden Eingangsparameter in ihrer statistischen Verteilung bzw. in Form von Bandbreiten, mit dem Ziel, Unsicherheiten, die sich aus dem in der Planungsphase unausweichlichen Informationsdefizit ergeben, durch Anwendung einer alternativen Berechnungsmethode mathematisch zu erfassen und in die Berechnung einzubeziehen. Die untersuchte Vorgehensweise trägt dazu bei, aus einem Informationsdefizit resultierende Unschärfen bei der wirtschaftlichen Beurteilung komplexer Infrastrukturprojekte objektiv bzw. mathematisch zu erfassen und in den Planungsprozess einzubeziehen. Es erfolgt eine Beurteilung und beispielhafte Überprüfung, inwiefern die Random Set Methode bei Bestimmung der für den Optimierungsprozess von Wasserkraftanlagen relevanten Eingangsgrößen Anwendung finden kann und in wieweit sich hieraus Verbesserungen hinsichtlich Genauigkeit und Aussagekraft der Berechnungsergebnisse ergeben.

The design of hydropower projects requires a comprehensive planning process in order to achieve the objective to maximise exploitation of the existing hydropower potential as well as future revenues of the plant. For this purpose and to satisfy approval requirements for a complex hydropower development, it is imperative at planning stage, that the conceptual development contemplates a wide range of influencing design factors and ensures appropriate consideration of all related aspects. Since the majority of technical and economical parameters that are required for detailed and final design cannot be precisely determined at early planning stages, crucial design parameters such as design discharge and hydraulic head have to be examined through an extensive optimisation process. One disadvantage inherent to commonly used deterministic analysis is the lack of objectivity for the selection of input parameters. Moreover, it cannot be ensured that the entire existing parameter ranges and all possible parameter combinations are covered. Probabilistic methods utilise discrete probability distributions or parameter input ranges to cover the entire range of uncertainties resulting from an information deficit during the planning phase and integrate them into the optimisation by means of an alternative calculation method. The investigated method assists with the mathematical assessment and integration of uncertainties into the rational economic appraisal of complex infrastructure projects. The assessment includes an exemplary verification to what extent the Random Set Theory can be utilised for the determination of input parameters that are relevant for the optimisation of hydropower projects and evaluates possible improvements with respect to accuracy and suitability of the calculated results. / Die Auslegung von Wasserkraftanlagen stellt einen komplexen Planungsablauf dar, mit dem Ziel das vorhandene Wasserkraftpotential möglichst vollständig zu nutzen und künftige, wirtschaftliche Erträge der Kraftanlage zu maximieren. Um dies zu erreichen und gleichzeitig die Genehmigungsfähigkeit eines komplexen Wasserkraftprojektes zu gewährleisten, besteht hierbei die zwingende Notwendigkeit eine Vielzahl für die Konzepterstellung relevanter Einflussfaktoren zu erfassen und in der Projektplanungsphase hinreichend zu berücksichtigen. In frühen Planungsstadien kann ein Großteil der für die Detailplanung entscheidenden, technischen und wirtschaftlichen Parameter meist nicht exakt bestimmt werden, wodurch maßgebende Designparameter der Wasserkraftanlage, wie Durchfluss und Fallhöhe, einen umfangreichen Optimierungsprozess durchlaufen müssen. Ein Nachteil gebräuchlicher, deterministischer Berechnungsansätze besteht in der zumeist unzureichenden Objektivität bei der Bestimmung der Eingangsparameter, sowie der Tatsache, dass die Erfassung der Parameter in ihrer gesamten Streubreite und sämtlichen, maßgeblichen Parameterkombinationen nicht sichergestellt werden kann. Probabilistische Verfahren verwenden Eingangsparameter in ihrer statistischen Verteilung bzw. in Form von Bandbreiten, mit dem Ziel, Unsicherheiten, die sich aus dem in der Planungsphase unausweichlichen Informationsdefizit ergeben, durch Anwendung einer alternativen Berechnungsmethode mathematisch zu erfassen und in die Berechnung einzubeziehen. Die untersuchte Vorgehensweise trägt dazu bei, aus einem Informationsdefizit resultierende Unschärfen bei der wirtschaftlichen Beurteilung komplexer Infrastrukturprojekte objektiv bzw. mathematisch zu erfassen und in den Planungsprozess einzubeziehen. Es erfolgt eine Beurteilung und beispielhafte Überprüfung, inwiefern die Random Set Methode bei Bestimmung der für den Optimierungsprozess von Wasserkraftanlagen relevanten Eingangsgrößen Anwendung finden kann und in wieweit sich hieraus Verbesserungen hinsichtlich Genauigkeit und Aussagekraft der Berechnungsergebnisse ergeben.