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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
301

Organisationskultur – från ideell till kommersiell : En kvalitativ studie om organisationskultur i en organisation med ideell, professionell och kommersiell idrott

Holm, Elin, Kevesäter, Mårten January 2020 (has links)
Historiskt sett har idrotten i Sverige utövats dels efter ett amatörideal i syfte att bekämpa ohälsa, dels efter eget idrottsintresse. Idrotten har sedan den etablerade sig, följt samhällsutvecklingen och anpassat sig därefter. När amatörregeln togs bort på 60-talet genomgick idrotten en förändring mot professionalisering vilket bland annat innebär att anställda inom professionella idrottsorganisationer erhåller ekonomisk ersättning för deras arbete och utövarna kunde tjäna pengar på sin idrott. Idrotten utvecklades i samhället och kommersialisering blev ett fenomen som har gett bestående inslag inom idrottsvärlden, där det nu återfinns flera kulturella värdegrunder som består av ideell, professionell och kommersiell idrott. Syftet med studien är att undersöka om de olika kulturella värdegrunderna kan förenas inom en idrottsorganisation och om det då uppstår några problematiska situationer, spänningar, när de förenas. Studien är en kvalitativ fallstudie där tre semistrukturerade intervjuer har genomförts. Resultatet utgick ifrån Schein’s organisationskultursmodell samt de kulturella värdegrundernas identiteter och visade på att organisationskulturen formas och integreras av ideell, professionell och kommersiell idrott samt att det uppstår spänningar när dem förenas i en organisation. I detta fall blir den professionella och kommersiella verksamheten mer dominerande i organisationskulturen. / Historically, sports in Sweden have been practiced either according to an amateur ideal for the purpose of combating ill-health or and in accordance with the athletes own sports interest. Since its establishment, sport has followed social development and adapted accordingly. When the amateur rule was removed in 1967, the sport underwent a change towards professionalization. It is primarily sports organizations that compete at the highest level and with a focus on team sports that have embraced this professionalization. The professionalization meant that employees in sports organizations were paid a salary and that the athletes could make money from their sports. Development in sport has since continued in line with society and commercialization has become a phenomenon as well as a lasting element that has taken over parts of the power in the sports world. This has created different cultural values ​​in sports.  We now talk about non-profit -, professional - and commercial sports. This study investigates whether these values ​​can work together within an elite organization and what tensions may arise between them. The study is a qualitative case study in which three semi-structured interviews have been conducted. The analysis was based on Schein's organizational culture model, which focuses on the levels of artifacts, espoused beliefs and values ​​and basic underlying assumptions. The result showed that organizational culture is shaped and integrated by the different cultural values.
302

Success factors, challenges & problemsduring external technology exploitation of an R&D Company

Hagberg, Markus, Khalil, Saif January 2014 (has links)
Flera divisioner inom processindustrin står inför många utmaningar på grund av förändringar i processindustrins landskap. Faktorer relaterade till lågkonjunkturen, klimatförändringar och ökad konkurrens har satt sina spår. Följaktligen finns det flera enheter inom processindustrin som söker andra möjligheter för att bredda sin kompetens och utveckla innovativ teknik i nya landskap inom processindustrin. Eftersom det har blivit allt vanligare för företag att delta i ett partnerskap med externa aktörer för att utveckla och kommersialisera nya innovativa teknologier och lösningar, är det fortfarande en ganska komplicerad process och har inte heller tillräckligt avspeglats på i akademiska studier. Målet med detta examensarbete är att undersöka och analysera vilka utmaningar och problem  som  FoU-företag  inom  processindustrin  står  inför  vid  bildandet  av allians/partnerskap   för   extern   teknologi   exploatering,   och   även   identifiera framgångsfaktorer. Examensarbetet avgränsas till planeringsfasen av ett  projekt eftersom den har identifierats som den mest avgörande fasen. Syftet är att förse FoU- företag med insikt om de potentiella problem och utmaningar som kan uppstå och därmed kunna anpassa sin strategi mer effektivt. Examensarbetet genomfördes med en  kvalitativ  metodgång  där  två  dussin  nyckelpersoner  från  företag  i  process industrin  intervjuades,  och  även  en  fördjupad  undersökning  av   ett  projekt. Trianguleringsmetoder utnyttjades för att kontrollera och stärka insamlad data från intervjuer, och därefter analyserades i samband med en litteraturstudie. Vi har i undersökningen kommit till underfund till 11 utmaningar och problem ett FoU- företag  kan  uppleva,  till  exempel  risker  relaterade  till  kraven  på  samordning, partner-val och planeringsverktyg etc. Vi har även identifierat 15 framgångsfaktorer ett FoU-företag bör överväga att implementera, såsom potentiella synergier mellan mindre   teknologier   och   innovationer   för   att   framhäva   en   mer   betydande kombinerad effekt, och en strategisk parter urvalsprocess. / Several divisions in the process industry are facing numerous challenges due to changes in the process industry landscape. Factors related to the recession, climate change and an increasing competition have left its mark. Consequently, there are several units within the process industry that seeks other opportunities in order to extend their expertise and develop innovative technologies in new landscapes within the process industry. As it has been increasingly prevalent for companies to participate in a partnership with external actors in order to develop and commercialize new innovative products and solutions, it is still a rather complex process and has insufficiently been reflected upon in academic studies. The aim of this master’s thesis is therefore to investigate and analyze what challenges and problems R&D companies within the process industry faces when entering an alliance/partnership for external technology exploitation, and also identify success factors. The master’s thesis is delimited to the planning phase of a project as it was identified as the most crucial phase. The purpose is to allow companies adjust their strategy more efficiently and competently when knowing what the potential problems and challenges are, thus providing results that would be of great practical use for R&D companies overall. The master’s thesis was conducted by a qualitative approach, interviewing two dozen key persons and in-depth investigation of a project. Triangulation methods was employed in order to verify and strengthen the gathered data from the interviews, and analyzed in relation with literature. We have identified 11 challenges and problems an R&D company could experience, such as risks related to coordination requirements, partner selection, planning tools etc. However, there are also 15 of success factors an R&D company should contemplate upon, such as potential synergies between small inventions in order to utilize and attain a larger combined effect, and designing a strategic partner selection process.
303

"Det är ett alltidsjobb" : En fallstudie om hur den ideella verksamheten påverkats av kommersialisering och professionalisering

Hachemaoui, Mehdi, Loberg Bateman, William January 2021 (has links)
This study aims to examine how professionalization and commercializationinfluence the culture of the organization in a non-profit association. The studyobject is the elite preparatory activity in a sports organization. Therespondents in this study consist of head coaches, coaches and leaders inmanagerial positions who together have contributed to empirical material inthe form of qualitative data. The results were then analyzed out of Schein'stheory of organizational culture and the three cultural levels. The conclusionstated that artifacts and espoused values were identifiable in theorganizational culture based on Schein's theory. However, the underlyingassumptions were more difficult to understand. A connection that indicates aprofessionalization and commercialization of the non-profit activity could bepointed out.
304

Value Chain Analysis and Identification of Upgrading Options for Eucalyptus Poles and Fuelwood in Sidama. The Case of Hawassa Zuria District, Southern Ethiopia.

Asabeneh Alemayehu, Munuyee 12 December 2019 (has links)
The increasing gap between the demand and supply of wood products is linked to large-scale forest conversions to agricultural land and high population growth. Fast growing tree species like Eucalyptus have been popularised and planted by many farmers in different parts of Ethiopia to reduce the enormous supply gap. The objective of the study was to examine the value chain and identification of upgrading options for Eucalyptus poles and fuelwood in Sidama zone, Hawassa Zuria District, southern Ethiopia. The study applied value chain analysis, the theory of access, value chain governance and upgrading as well as gross margin to explores explicitly Eucalyptus products and their lines, chain actors, their function and interaction, estimate cost and value-added distribution, identify the role of Eucalyptus pole and fuelwood for actor’s livelihood strategy, mechanisms and structure of access to benefit and governance type, explore supporting and enabling environments along the value chain and finally to identify options for upgrading the value chain. For the collection of primary data key informant interviews, in-depth interviews, focus group discussions, market assessment and direct observations were used and complemented by secondary data. A total of 49 actors along the chains including tree growers, middlemen, transporters, wholesalers and retailers of pole and fuelwood, workers, brokers, as well as the customers for instance constructors and carpenters, were interviewed. SPSS and excel solver was used to analyse the data and presented in graphs, tables, and descriptive texts. The results of the study revealed that tree growers, workers, middlemen, transporters, Tulla and Hawassa wholesalers and retailers of the pole, large fuelwood wholesalers and retailers, small fuelwood retailers and consumers are direct actors. Government, brokers and service providers were considered to be indirect actors in the value chain of Eucalyptus poles and fuelwood from Chefasine kebele. Among the different products produced in the kebele, Eucalyptus poles were the most traded (85%) products at Tulla and Hawassa towns followed by fuelwood (5%) traded mostly at Tulla town along the chain. The chain has two major lines for pole (line one: Chefasine to Tulla and Line two: Chefasine to Hawassa) and one major line for fuelwood. Very limited processing takes place at the tree growers’ level for both pole and fuelwood and the major proportion of value addition occurs at the middlemen level for line two of pole and fuelwood, and at Tulla pole wholesalers and retailers’ level for line one of Eucalyptus poles. Production, processing, marketing and consumption were the four main functional activities along the chain. The trade of Eucalyptus products was financially profitable for all actors in the chain. However, the benefit distribution was unequal and commercialization margin was increasingly distributed towards the downstream actors for poles while for fuelwood, middlemen grasped the higher benefit and commercialization margin. Eucalyptus was the second profitable livelihood option next to homestead agroforestry but was the first profitable as compared individually with khat, coffee, enset and other activities. Apart from income provision, Eucalyptus was used for conservation of degraded land, construction, firewood, shading, and a form of saving among other uses in the study area. The income from Eucalyptus was also among others used for education fees, house renting and purchase household consumption goods (food, cloth, equipment) and others. Supporting services were almost non-existent for Eucalyptus production and marketing. Access to finance, market information, relationships building, capital, labour opportunity, license and Eucalyptus products were the means of controlling and maintaining market dynamics. Market types of value chain governance with a low level of horizontal and vertical coordination as well as low level of explicit coordination was observed for the value chain of Eucalyptus poles and fuelwood. Disease, lack of market information, lack of support, lack of road access, lack of storage space and limited technologies as well as inadequate land were the major constraints identified from the focus group discussion and Participatory Innovative Platform (PIP). Organising tree growers for marketing and information sharing, organising traders for storage, provision of market infrastructures, easing credit access, training on silvicultural management, technologies adoption, implementing the existing policies and enforcing rules and regulations were some of the options identified for the upgrading of the product's chain.
305

Study of the Performance and Characteristics of U.S. Academic Research Institution Technology Commercialization (ARITC)

Kim, Jisun 01 January 2011 (has links)
This dissertation aims to provide a better understanding of the technology licensing practices of academic research institutions. The study identifies time durations in licensing and incorporates these into a model to evaluate licensing performance. Performance is measured by the efficiency of an institution's technology licensing process and efficiency changes over time, using Association of University Technology Managers annual survey data from 1991 to 2007. Organizational characteristics influencing the licensing performances of 46 U.S. research institutions also are explored. The study resulted in a new approach that integrates the identification of time lags in licensing, analysis of efficiency change, and exploration of the influence of organizational characteristics on efficiency change. A super-efficiency variable returns to scale data envelopment analysis (DEA) model was applied to the time-lag neutralized licensing data, to measure the efficiency of U.S. research institutions' licensing performance over time. The study also includes an innovative approach to resolving issues with the super-efficiency DEA model, including mathematical infeasibility and zero-data issues. The licensing mechanisms included in the study are disclosure, patent applications, patents issued, licenses and options executed, start-ups, and licensing income. The time duration from expenditure to licensing income, including all intermediating licensing processes, ranged from 2 to 27 years. The study identified the organizational characteristics related to licensing practice. Academic prestige and research quality are positively related to disclosure, patents granted, and start-up. The resources of a technology licensing office influences the number of licensing agreements, whereas licensing office experience has a positive relationship with start-ups. Increased licensing resources improve the efficiency of licensing practices, and a research institution with more dedicated licensing staff has improved licensing productivity. Private institutions improved their licensing practice more than public ones during the study period. On the other hand, institutions with a medical school demonstrated low efficiency. This dissertation fills a gap in the understanding of licensing practice and the organizational characteristics related to licensing performance. In addition, the study contributes to research methodology by providing a new approach to identifying time lags and improving the DEA method. The results, grounded in comprehensive observations over multiple time durations, provide an insight into the licensing practices of U.S. research institutions. The dissertation presents recommendations for research institutions based on the relationships identified among academic prestige, research intensity, organizational characteristics of the technology licensing office, and licensing performance.
306

Commercialization of a Niche Sustainable Microwave AI Technology Innovation : A case study in Percy Roc AB

Mirzazada, Aynaz, Faisal, Jerry January 2023 (has links)
Nowadays, increasing energy costs create challenges for societies. In industries such as manufacturing, energy is one of the basic needs for development, automation, and modernization. The increase in energy costs affects economic growth, especially, in the manufacturing industry which depends on the energy consumption to run their facilities. One of the components that contribute considerably to energy consumption in industry is industrial heating technology. A new technology called microwave heating technology has been developed to tackle the issue of energy costs. The new technology is considered niche because, in contrast to widely used induction heating technologies, it is more environmentally friendly and the embedded AI control algorithm minimizes the loss of energy and time. Microwave heating is becoming prominent amongst other heating technologies because of its ability to transfer heat better and faster inside the material and thus, it generates low energy costs. However, for a niche technological innovation, it is considered difficult to commercialize as consumers have less experience and knowledge about the technology. The study is analyzed using a framework of commercialization of technological innovation that has been developed with a review of existing literature. The data has been sourced from an investigation of the case company and seven semi-structured interviews with niche technological innovation companies to get insights on the practical application of the stages of commercialization of new technological innovation. Based on the empirical data and analysis, the study concludes that a firm should go through different stages, namely market recognition, development, and deployment with a focus on building relationships with customers, establishing partnerships to manage through uncertainties, testing, and being flexible in the decision-making of essential aspects such as pricing model to successfully commercialize their technology innovation. This study also contributes to the literature on the commercialization of niche technological innovations and provides recommendations for the improvement of commercialization processes.
307

[pt] COMERCIALIZAÇÃO DE SWAPS DE GERAÇÃO DE ENERGIA SOLAR NO BRASIL: O EFEITO CURVA DO PATO / [en] COMMERCIALIZATION OF SOLAR ENERGY GENERATION SWAPS IN BRAZIL: THE DUCK CURVE EFFECT

SERGIO CEZAR DE AZEVEDO JUNIOR 26 April 2023 (has links)
[pt] Este trabalho analisa a potencial formação do fenômeno da “curva do pato” sobre os preços horários de energia no Brasil. Tal fenômeno se dá pela introdução massiva de geração solar na matriz energética e produz um afundamento nos preços de energia nos horários diurnos onde a produção de energia é abundante e uma rápida elevação dos preços no início da noite que carece de tal fonte de energia e apresenta picos de demanda. Este efeito tem produzido custos elevados aos operadores sistemas elétricos em diversos mercados internacionais como California, Austrália, Alemanha e, principalmente, reduzido a rentabilidade das usinas de geração solar que produzem energia em horários de preço baixo e precisam comprar energia em horários de preços altos. Este estudo recorreu a mais de cinquenta artigos e literaturas além de analisar minuciosamente o Plano Decenal de Energia (EPE, 2022b) como fonte principal para simulações de preço. Também contou com a contribuição de quatro especialistas do setor elétrico Brasileiro que avaliaram o entorno macro e aspectos da atratividade da indústria. Por fim, o trabalho conclui que a curva do pato no Brasil começará a se formar em 2026 tendendo a chegar a uma formação mais evidente no ano de 2031. Contudo, estima-se que o prêmio de risco de mercado para um agente de geração solar mitigar esse risco através de um contrato de swap seria menor que 10 por cento do preço de face de um contrato de energia de longo prazo. / [en] This thesis analyzes the potential formation of the duck curve phenomena on the hourly energy prices in Brazil. Such occurs by the massive introduction of solar generation into the energy matrix and produces a reduction in energy prices during the daytime hours where energy production is abundant and a steep increase in prices in the evening which lacks solar energy source and peaks on load demand. This effect has produced high costs for electrical system operators in several international markets such as California, Australia, Germany and, mainly, reduced the profitability of solar generation plants that produce energy at low price period and need to buy energy at high price hours. This study used more than fifty articles and literatures in addition to thoroughly analyzing the Ten-year Energy Plan (EPE, 2022b) as the main premise for price simulations. It also had the contribution of four specialists from the Brazilian electricity sector who evaluated the macro environment and the industry attractivity. Finally, the work concludes that the duck curve in Brazil will begin to form in 2026 tending to reach a more evident formation in the year 2031. However, it is estimated that the market risk premium for a solar generation agent to mitigate this risk through a swap contract would be less than 10 per cent of the face price of a long-term energy contract.
308

[pt] MODELO DE OTIMIZAÇÃO ESTOCÁSTICA PARA A TOMADA DE DECISÃO NA COMERCIALIZAÇÃO DE ENERGIA ELÉTRICA NO BRASIL / [en] STOCHASTIC OPTIMIZATION MODEL FOR DECISION MAKING IN THE COMMERCIALIZATION OF ELECTRIC ENERGY IN BRAZIL

VICTOR CAMPOS VIEIRA DA ROSA 13 June 2022 (has links)
[pt] Com o advento do novo modelo do setor elétrico a partir de 2004, foi permitida aos agentes de mercado a comercialização de energia no ambiente de contratação livre. Considerando a natureza destas operações e a influência de variáveis meteorológicas na formação e volatilidade dos preços, as decisões no âmbito da comercialização de energia são tomadas sob condições de incerteza, levando os agentes a buscarem estratégias de contratação para maximização do retorno dos ativos e/ou mitigação dos riscos envolvidos. No setor elétrico brasileiro, a gestão do risco de mercado é realizada principalmente por contratos a termo, de forma a reduzir os impactos adversos da flutuação do PLD. Neste contexto, os objetivos deste estudo são avaliar a aplicabilidade de dois modelos de otimização sob incerteza, estágio único e estocástico de dois estágios, na tomada de decisão de uma comercializadora e comparar as decisões recomendadas pelos modelos. Estes modelos utilizaram uma função de preferência que permite representar a variação do nível de aversão ao risco considerando diferentes bandas de preferência, tendo os seus parâmetros determinados pelo método Analytic Hierarchical Process. Para a construção das curvas forward do modelo estocástico de dois estágios, foi ponderado o preço de mercado observado e as 2.000 séries do PLD da previsão oficial do ONS. Os resultados evidenciaram a efetividade na mitigação do risco para os produtos avaliados. Ademais, devido à redução do custo do arrependimento a partir da modelagem do problema de otimização em dois estágios, este modelo apresentou soluções mais rentáveis quando comparado ao modelo de único estágio. / [en] With the advent of the new model for the electricity sector in 2004, market agents were allowed to sell energy in the free market. Considering the nature of these operations and the influence of meteorological variables on the formation and volatility of prices, energy trading decisions are taken under conditions of uncertainty, leading agents to seek contracting strategies to maximize the return on assets or mitigation of the risks involved. In the Brazilian electricity sector, market risk management is mainly accomplished through forward contracts, in order to reduce the adverse impacts of PLD fluctuation. In this context, the objectives of this study are to evaluate the applicability of two optimization models under uncertainty, single-stage and two-stage stochastic, in the decision making of a trading company and to compare the decisions recommended by the models. These models used a preference function that allows representing the variation of the risk aversion level considering different preference groups, having its parameters determined by the Analytic Hierarchical Process. For the construction of the forward curves of the two-stage stochastic model, the observed market price and the 2,000 PLD series of the ONS official forecast were weighted. The results evidenced the effectiveness in risk mitigation for the evaluated products. Furthermore, due to the reduction in the cost of regret from the two-stage optimization problem modeling, this model presented more cost-effective solutions when compared to the single-stage model.
309

[en] OPTIMIZATION OF DISTRIBUTION COMPANIES STRATEGY FOR PARTICIPATING IN THE CONTRACT SURPLUS SELLING MECHANISM – MVE: A DECISION UNDER UNCERTAINTY APPROACH / [pt] OTIMIZAÇÃO DA ESTRATÉGIA DE DESCONTRATAÇÃO DAS DISTRIBUIDORAS: UMA ABORDAGEM SOB INCERTEZA

MATEUS ALVES CAVALIERE 03 February 2022 (has links)
[pt] No Brasil, as distribuidoras (DisCos) devem suprir seu crescimento de carga por meio de contratos comercializados em leilões centralizados de Energia Nova, nos quais são leiloados contratos com entrega 4 anos a frente. No entanto, projetar a demanda de energia para vários anos à frente é muito desafiador, pois o consumo de energia é muito dependente da taxa de crescimento da economia, da possibilidade de surgimento de uma nova solução/tecnologia (geração solar distribuída) e da migração de consumidores cativos para o mercado livre. Embora as distribuidoras possam repassar os custos do excedente contratual de até 5 por cento nas tarifas de energia, esse limite tem se mostrado insuficiente desde que a última crise econômica no Brasil (2015) derrubou as expectativas de crescimento do consumo, deixando as distribuidoras com um superavit de contrato enorme. Essa situação tornou-se um problema para as distribuidoras, uma vez que esses contratos são liquidados no mercado spot, expondo-as ao preço spot, variável demasiadamente volátil no Brasil, e comprometendo assim a os seus fluxos de caixa. Neste contexto, criou-se o Mecanismo de Venda de Excedentes - MVE, um importante instrumento regulatório para gerenciamento do portfólio das distribuidoras. Por meio deste mecanismo as distribuidoras são capazes de vender, em um leilão centralizado, seus excedentes contratuais, reduzindo assim sua exposição ao mercado spot. Assim, este trabalho tem como objetivo propor uma metodologia para otimizar a estratégia das distribuidoras nos processamentos de MVE utilizando o conceito de Decisão sob Incerteza. Em outras palavras, o modelo indicará uma estratégia de venda de contratos no MVE, considerando o perfil de aversão ao risco do agente, avaliando os diferentes custos de oportunidade existentes neste processo de tomada de decisão. / [en] In Brazil, distribution companies (DisCos) must supply their expected load growth with contract purchases in centralized New Energy Auctions, in which commercial operation date – COD of generation projects being sold is (at least) 4 years ahead. Projecting energy demand for several years ahead is very challenging as energy consumption is very dependent on economy growth rate, the possibility of a surge of a new solution/technology (solar distributed generation) and the migration of captive consumers to the free market, to name a few. Even though distribution companies are allowed to pass through the costs of contract surplus of up to 5 percent in energy tariffs, this threshold was shown insufficient when the latest economic crisis in Brazil (2015) has knocked over consumption growth expectations, leaving distribution companies with huge contract surplus. This situation became a problem for the distribution companies since these contracts must be settled in the spot market, exposing them to the spot price, which is very volatile, and compromising their cash flow. In this context, the Mecanismo de Venda de Excedentes - MVE was created, an essential regulatory instrument to help distribution companies manage their energy portfolio. Through this mechanism, DisCos can sell in a centralized auction their contracts surplus, reducing their position in the spot market. This work aims to propose a methodology to optimize the distribution companies strategy in the MVE auctions using the theory of the Decision under Uncertainty. In other words, the model will indicate a strategy to sell contracts in the MVE, considering the agent s risk aversion profile, evaluating all the opportunity costs involving in this decision-making.
310

[pt] OTIMIZAÇÃO DE ESTRATÉGIAS DINÂMICAS DE COMERCIALIZAÇÃO DE ENERGIA COM RESTRIÇÕES DE RISCO SOB INCERTEZAS DE CURTO E LONGO PRAZO / [en] RISK-CONSTRAINED OPTIMAL DYNAMIC TRADING STRATEGIES UNDER SHORT- AND LONG-TERM UNCERTAINTIES

ANA SOFIA VIOTTI DAKER ARANHA 23 November 2021 (has links)
[pt] Mudanças recentes em mercados de energia com alta penetração de fontes renováveis destacaram a necessidade de estratégias complexas que, além de maximizar o lucro, proporcionam proteção contra a volatilidade de preços e incerteza na geração. Neste contexto, este trabalho propõe um modelo dinâmico para representar a tomada de decisão sequencial no cenário atual. Ao contrário de trabalhos relatados anteriormente, este método fornece uma estrutura para considerar as incertezas nos níveis estratégico (longo prazo) e operacional (curto prazo) simultaneamente. É utilizado um modelo de programação estocástica multiestágio em que as correlações entre previsões de vazão, geração renovável, preços spot e preços contratuais são consideradas por meio de uma árvore de decisão multi-escala. Além disso, a aversão ao risco do agente comercializador é considerada por meio de restrições intuitivas e consistentes no tempo. É apresentado um estudo de caso do setor elétrico brasileiro, no qual dados reais foram utilizados para definir a estratégia ótima de comercialização de um gerador de energia eólica, condicionada à evolução futura dos preços de mercado. O modelo fornece ao comercializador informações úteis, como o montante contratado ideal, além do momento ótimo de negociação e duração dos contratos. Além disso, o valor desta solução é demonstrado quando comparado a abordagens estáticas, através de uma medida de desempenho baseada no equivalente de certo do problema multiestágio. / [en] Recent market changes in power systems with high renewable energy penetration highlighted the need for complex profit maximization and protection against price volatility and generation uncertainty. This work proposes a dynamic model to represent sequential decision making in this current scenario. Unlike previously reported works, we contemplate uncertainties in both strategic (long-term) and operational (short-term) levels, all considered as pathdependent stochastic processes. The problem is represented as a multistage stochastic programming model in which the correlations between inflow forecasts, renewable generation, spot and contract prices are accounted for by means of interconnected long- and short-term decision trees. Additionally, risk aversion is considered through intuitive time-consistent constraints. A case study of the Brazilian power sector is presented, in which real data was used to define the optimal trading strategy of a wind power generator, conditioned to the future evolution of market prices. The model provides the trader with useful information such as the optimal contractual amount, settlement timing, and term. Furthermore, the value of this solution is demonstrated when compared to state-of-the-art static approaches using a multistage-based certainty equivalent performance measure.

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