The Swedish energy market consists of several different energy companies that possess different ownership structures. The strategical directions of the different energy companies are highly dependent on these ownership structures, due to the fact that the different owners decides the overall aim of the ownership which then is considered when creating a strategy. There are three dominant ownership structures for the energy companies within the Swedish energy market today which are; privately owned, governmentally owned and lastly energy companies owned by a municipality, often called regional energy companies. The strategical direction for the privately and governmentally owned energy companies are somewhat similar, where highprofitability often is prioritized combined with a sufficient sustainability. However, the strategical direction of the different regional energy companies differs greatly, depending on several different factors. The aim of this study is therefore to identify the strategical direction for 6 investigated regional energy companies, by examining different internal and external factors affecting this strategical direction.The study was based on 6 interviews with company representatives from each of the studied companies, where 5 of these representatives possessed the role as CEO and one possessed the role as senior advisor. These interviews was conducted in order to get a good understanding of the strategical direction of each company, and to identify the different internal and external factors affecting these.The results of this study identified several different external factors affecting the regional energy companies, which was then divided into 6 different categories; Political, Economic, Social, Technological, Environmental and lastly Legal. Different internal factors were also identified and categorized into five different areas, which were Politicians as owners, Aim of ownership, State of municipality, Risk management and Interpretation of municipal law. These factors was then used in order to identify the strategical directions of the studied regional energy companies, which differed substantially. However, there were areas within the different strategical directions that was similar to all investigatedcompanies. For example, all 6 investigated companies expressed the importance of aligning the energy companies and their offering with the changing customer demand that is highly connected to the increasing digitalization of the Swedish energy market.

The rapid development of the lithium-ion battery industry is currently driving down sys-tem costs as a result of maturing processes. Decreasing system costs enables additional revenue streams and applications, provided through li-ion battery storage, to be ex-plored. EAM Solar, a Norwegian solar utility company with operational solar power plants across the globe, seeks to build and operate a solar power plant (SPP) in the Dutch region of Leeuwarden. This thesis investigates whether an SPP with an installed capacity of 16.1MW, can be economically profitable when utilizing li-ion battery energy storage systems (BESS) for arbitrage and time-shift of subsidized solar power in order to avoid large(r) grid-connection costs while accepting grid transmission limits. Literature, environment parameters and estimates from the industry was combined with financial data from the client and collaborators, such as a battery manufacturer, to create viable and realistic economic evaluations.The literature study provided information for relevant parameters such as the life cycle of a battery, which enabled a realistic modeling procedure regarding cyclic and calendric degradation, charge/discharge behavior, end of life terms and overall efficiencies. It was modelled quantitatively in Stella Architect and Microsoft Excel to obtain economical and financial indicators, such as Net Present Value (NPV) & Internal Rate of Return (IRR), to subsequently provide recommendations on whether to make the investment.Results show worse economic outcomes for li-ion BESS investments compared to the original investment of a stand-alone SPP, even when arbitrage was implemented as a cost recovery mechanism and with a smaller grid-connection cost. Furthermore, it is shown that a stand-alone BESS only used for arbitrage is unlikely to become profitable in the foreseeable future at this location or in a similar market mainly due to large in-vestment costs combined with substantial fees associated with access to the day-ahead electricity auction in the Netherlands, EPEX Spot NL. It is also shown that in spite of the lower grid connection for a SPP combined with a li-ion BESS, a 20-25% decrease in battery investment cost is required for the investment to yield similar rate of returns as a stand-alone SPP investment. The model developed in this thesis can be considered to be a tool for evaluating similar systems in the future with minor modifications, espe-cially as the market- and technology environment evolves. / Den snabba utvecklingen utav litium-jonindustrin för batteritillverkning har kraftigt dri-vit ner systemkostnader som ett resultat av mer mogna processer. Sjunkande systemkost-nader möjliggör upptäckande av både nya intäktskällor och användningsområden för li-tium-jonbatteri. EAM Solar, ett norskt solkraftföretag som äger ett flertal solkraftverk världen över, är just i planeringsstadiet för att bygga och underhålla ett nytt kraftverk i den nederländska staden Leeuwarden. Denna uppsats undersöker om ett solkraftverk med en kapacitet på 16.1 MW kan vara lönsamt tillsammans med ett batterisystem som ska användas för att lagra el när överföringsgränsen är nådd, samt för arbitragehandel. Förhoppningen från klientens sida var att den mindre nätanslutning kunde användas tillsammans med ett batterisystem för undvika vissa investeringskostnader. Litteratur, lokala parametrar och kalkyler från industrin kombinerades med finansiella data från klienten och samarbetspartners som batteritillverkare för att skapa trovärdiga och real-istiska resultat.Litteraturstudien gav information om relevanta parametrar såsom livscykeln för ett bat-teri, vilket möjliggjorde en realistisk modelleringsprocedur gällande cyklisk och tidsan-passad degradering, laddning- och urladdningsbeteende, slutvillkor för användning och generella effektiviteter. Modellen modellerades sedan kvantitativt i Stella Architect och i Microsoft Excel för att få fram finansiella indikatorer vilka gav en rekommendation om en investering skulle göras eller ej.Resultaten visade sämre ekonomiska resultat för litium-jonbatteri kombinerat med ett solkraftverk jämfört med endast ett solkraftverk för sig själv, detta även om både ar-bitrage och lagring av överskottselektricitet används för att öka intäkterna kombinerat med en liten anslutning till det nationella nätet. Utöver detta visar det sig att ett batte-risystem som endast används för arbitragehandel är långt ifrån lönsamt för sig själv, och detta lär inte ändras under den närmaste tiden, i alla fall inte på en marknad som den nederländska. Anledningarna till detta är alltför höga investeringskostnader kombinerat med relativt höga avgifter för att ens få handla på den nederländska elmarknaden, EPEK Spot NL. För att nå lika resultat för ett solkraftverk med eller utan batterisystem krävs det, i det bästa fallet, en minskad investeringskostnad på 20-25%. Det ska dock nämnas att det krävs en mindre nätanslutning om ett batterisystem används, vilket är anled-ningen till att de finansiella resultaten är relativt lika, utan detta skulle alla system med batteripaket ge betydligt sämre värde. När uträkningar gjordes på batterisystem som endast används för arbitragehandel gav dem negativa ekonomiska resultat i samtliga fall, oberoende av batteristorlek. Det är dock viktigt att notera att modellen som skapades för denna uppsats är enkel att använda i framtiden. När parametrar ändras är det simpelt att justera modellen för att undersöka precis samma fall i framtiden.

Digitalization is hitting the energy industry by empowering energy producers and retailers, butmore importantly it’s empowering the end customers and the energy producers and retailers areno longer in possession of all power. Due to digitalization, energy networks are beingmodernized and new emerging technologies called smart grids and smart meters have beenintroduced. Smart grids can automatically monitor energy flows and adjust to changes in energysupply and demand. Smart meters on the other hand empowers the consumers to adapt theirenergy usage in both time and volume to different energy prices throughout the day by costcuttingtheir energy.With empowered and conscious end-customers, electricity retailers will have to compete in newways or risk losing their business. There is a risk that the majority of the over 100 electricityretailers in Sweden will be wiped out with time if data and information is not leveraged to theend-customers. This is potentially also threatening the business of TSU as well as othercompanies providing IT solutions to the energy market.For long Tieto Smart Utility (TSU) has offered IT services for both electricity retailers anddistributors across the Nordics. In relation to recently developed solutions as well as theopportunities and challenges created by digitalization and disruptive technologies such as smartmeters, the Nordic countries are in the forefront. Hence, TSU sees a potential in increasing itspresence in Western Europe to provide services to the retailers and distributors. However, inorder to expand to Western European countries TSU seeks to have a greater marketunderstanding of the different markets, in terms of for example market size, market structure,regulations. The problem is to have a structured and comprehensive way to increase marketunderstanding when assessing new West European energy markets due to the major differencesin each country.This thesis therefore aims to develop a framework which enables IT solution providers toconduct a market opportunity analysis in order to increase market awareness and assess theopportunities and potential in Western European markets, influenced by the smart-meter roll outand thus facilitate strategic decisions.A framework has been developed on the foundation on existing frameworks and applied onTSU by conducting a case study on a market opportunity assessment tool for energy IT solutionproviders. The framework consists of three levels of analysis; European-, Country- andCustomer Level which intends to identify market opportunities and potential.This thesis provides a framework for companies who wants to assess market opportunities andfacilitates strategic decisions regarding the potential of entering the markets. The findings of thisthesis has shown that the market opportunities for TSU are the greatest in Germany especiallydue to the market magnitude as well as the status for the smart meter roll-out. Furthermore,since IT solution providers usually offers many different services and solutions, the findings canbe used in a larger extent in order to asses the potential depending on type service and solution.

The Texas ERCOT market is one of the most open, deregulated electricity markets in the world. This open market brought electricity costs down for Texas residents and businesses, creating a much more competitive economic climate. However, these low prices currently generate insufficient revenue for generators to finance construction of new or replacement generation assets. In the instance of combined cycle advanced natural gas, the Independent Market Monitor 2012 annual report estimated that a plant needed to generate 2.5 times as much as revenue it did in 2012 to incent new generation. This author argues that while the gap is still significant, the continuous changes to the ERCOT market since its inception make an historical examination like that used by the IMM less accurate. New market rules such as price caps or changes in fuel markets through new technologies like hydraulic fracturing create a very different valuation gap than a model based on historical activity alone. This analysis attempts to get a more accurate approximation of the gap through the use of publicly traded futures contracts for natural gas and electricity. Electricity futures reflect market expectations of revenue based on current and future market rules. Gas futures reflect price expectations in light of market changes like fracturing, potential LNG exports, and other changes. Financial positions can be maintained in both markets to give a fixed rate of return. Using this method, one can create a very conservative valuation model that still more accurately reflects market sentiment. This thesis starts with a brief history of ERCOT deregulation from the early 2000s to present in order to clarify for the reader the changes that have taken place in the market. It then demonstrates the futures-valuation model using an advanced combined cycle power plant as an example. / text

The Thesis aims to analyze the possible shale gas development in the EU in context with raising problem of energy security. Based on the experience of shale revolution in the USA and econometric modelling using the method of Ordinary Least Squares with Fixed Effects to test the dependence of price on shale gas production, the transfer of US model to the EU is discussed. The results show that shale production affects the price negatively and that US model is successful due to multiple reasons, primarily presence of experienced companies, geological structure and strong regulation rules. The Thesis shows the unsuitability of the US model for the EU market. After the first enthusiasm for shale plays research in late 2000s the multiple barriers for drilling have risen up; the most significant are the environmental worries; both on governmental and public levels. US companies have lost interest in the EU and moved to other parts of the world. The shale gas development is not able to affect the energy security of the EU on European, international level.

L'émergence d'une politique européenne de l'énergie a pu être constatée dès les origines de la construction européenne, notamment par la création des Communautés européennes. Pour autant, les difficultés rencontrées par les deux Communautés sectorielles ont conduit l'Union européenne à tenter de conduire son action dans le cadre du Traité instituant la Communauté européenne qui était exempt de toute disposition concernant le secteur énergétique. Toutefois, de nombreux éléments permettent d'attester du renouvellement de la politique européenne de l'énergie depuis ces dernières années, confirmant l'importance que revêt ce secteur stratégique, à l'instar de la notion qui lui sert de fondement : la sécurité énergétique. La notion de sécurité énergétique est singulière, car chaque Etat tend, au travers de sa politique nationale, à garantir la sécurité des approvisionnements énergétiques, ce à quoi ne déroge pas l'action européenne énergétique qui a aussi cette finalité. Cependant, la sécurité énergétique ne se traduit pas uniquement par cet objectif. Elle revêt différentes significations qui en font une notion bien plus complexe que ne pourrait le laisser penser en apparence son rôle au sein de la politique européenne de l'énergie. En tant que fondement de l'action européenne dans le secteur de l'énergie, la sécurité énergétique a permis de l'inscrire dans un mouvement d'impulsion qui a été à l'origine du déploiement d'initiatives européennes dépassant le simple cadre dessiné par l'article 194 du TFUE, et qui a enfin doté l'Union européenne d'une compétence explicite dans ce domaine. Au-delà de sa fonction qui se traduit par l'objectif de garantie de l'approvisionnement énergétique au sein de l'Union européenne, la sécurité énergétique favorise ainsi le développement d'une action européenne renforcée dont elle est la finalité, tout en étant, en tant que fondement, à l'initiative d'actions subsidiaires dans le domaine de l'énergie. / The emergence of a European energy policy has been observed from the beginning of European integration, particularly by the creation of the European Communities. However, the difficulties encountered by both sectorial Communities have led the European Union to attempt to drive its action under the Treaty establishing the European Community, in which none of its articles was concerning the energy sector. However, many elements can attest of the renewal of the European energy policy in recent years, confirming that energy is a strategic sector, as is its funding principle: the energy security. The concept of energy security is unique because each state is, through its national policy, ensuring the security of its energy supplies. In this domain, local notional policies meet with the European Union energy policy purpose. However, energy security cannot be defined only as an objective. It has different understandings which are much more complex than could suggest its function in the European energy policy concept. As the basis for European Union action in the energy sector, energy security has created the momentum that enabled the development of European initiatives beyond the simple framework outlined by Article 194 TFEU, which finally allowed the primary law to provide an explicit European competence in this area. Beyond its function to ensure energy supply in the European Union, energy security enforces its final goal - the development of a stronger European action – and provides the foundation for European subsidiary actions.

Os recursos energéticos naturais não estão distribuídos uniformemente pelo globo terrestre, e são raros os países que os têm na quantidade e na qualidade que necessitam para atender as suas necessidades. Ante a essa realidade, o comércio de energéticos tem sido a forma principal de acesso dos países que não os dispõem em relação as suas necessidades. Esse comércio, que muitas vezes é regido por tratados ou acordos firmados entre países ou blocos econômicos regionais, diversificou-se, traspassou fronteiras e, atualmente, tornou-se um item significativo nas pautas de exportações de vários países. A evolução desse comércio tem a favor a alternativa de integração por meio de interconexões estratégicas de redes e da constituição de mercados comuns, que viabilizam a exploração do potencial de complementariedade energética de forma mais racional. Diante desse contexto, esta dissertação apresenta um estudo exploratório que avalia o estado da arte da integração energética sul-americana e faz análises dos modelos técnicos, das regulamentações, das regulações regionais e multilaterais estabelecidas pelos blocos econômicos sul-americanos e pela Organização Mundial do Comércio. De forma complementar, o estudo verifica e apresenta os fatores que podem comprometer o avanço e a instituição de um futuro mercado comum de energia no continente, conclui pela viabilidade do prosseguimento de ações em prol da ampliação da integração da indústria de energia elétrica na América do Sul e tece recomendações. Os resultados e as recomendações deste trabalho oferecem um embasamento procedimental para a gestão e a atuação institucional dos envolvidos no processo de integração energética da indústria de energia elétrica da região sul americana. / Natural energy resources are not evenly distributed across the globe and few countries have them in quantity and quality they require to meet their needs. According to this reality, countries that do not have those resources use the energy trade as the main way to have access them in order to fulfill their needs. This trade, which is often governed by treaties or agreements between countries or regional economic blocs, has diversified, surpassed borders and today has become a significant item on the agendas of exports from several countries. This trade evolution is in favor of the alternative of integration through strategic interconnection of networks and the creation of common markets, which enables the exploitation of the energy potential complementarity in a more rational way. In this context, this paper presents an exploratory study that assesses the state of the art of the South American energy integration and analyzes technical models, regulations, regional and multilateral regulations established by the South American economic blocs and the World Trade Organization. In addition, the study verifies and displays the factors that can undermine the progress and the establishment of a future common energy market in the continent and completes the feasibility of further actions towards the expansion of the power industry integration in South America and gives recommendations. The results and recommendations of this study offer a procedural basis for management and institutional performance of the energy involved entities in the integration process of the power industry of the South American region.

Made available in DSpace on 2016-04-25T16:45:08Z (GMT). No. of bitstreams: 1 Elias Barquete Albarello.pdf: 1196736 bytes, checksum: ddecfb7e3d553fe21e67003659251643 (MD5) Previous issue date: 2008-10-22 / In the context of the new model of the electric sector, the market projection has became a important tool for the sectorial planning and necessary in reason of the complexity of the national energy system, such in supply side and demand side. The social-economic and politic-institutional changes that will occur in the next decades allow to affirm, with reasonable security, that the future evolution of the energy demand, in particular of the electricity, will hardly follow the standards of the past, having to register differentiated movements duo to of the dynamic of the variable that determine its performance. In fact, the future is uncertain and it cannot be foreseen with exactness and security, being in the truth the result of discontinuities, ruptures and inflections of the standard past, highly influenced for new facts of the future and fruit of the social construction. Objectifying to analyze the importance of the construction of scenarios for the projection of electric energy market, a case study of the biggest electric energy distribution company of the country, AES Eletropaulo, was developed, in which it can verify the necessity of the use of scenario construction models, in reason of the results of the use of traditional methodologies, that might impact in the contract level of energy, conditioned by macroeconomic, social, institutional, ambient and technological factors, that present a relation of interdependence between itself, configuring an extensive net of mutual influences / No contexto do novo modelo do setor elétrico, a projeção de mercado tornou-se uma ferramenta de considerada importância para o planejamento setorial e necessária em razão da complexidade do sistema energético nacional, tanto do lado da oferta quanto do da demanda. As mudanças sócio-econômicas e político-institucionais que ocorrerão nas próximas décadas permitem afirmar, com razoável segurança, que a evolução futura da demanda de energia, em particular da eletricidade, dificilmente seguirá os padrões do passado, devendo registrar movimentos diferenciados decorrentes das dinâmicas das variáveis que determinam o seu desempenho. De fato, o futuro é incerto e não pode ser previsto com exatidão e segurança, sendo na verdade o resultado de descontinuidades, rupturas e inflexões do padrão passado, altamente influenciado por novos fatos portadores de futuro e fruto de uma construção social. Com o objetivo de analisar a importância da construção de cenários para a projeção de mercado de energia elétrica, foi conduzido um estudo de caso da maior distribuidora de energia elétrica do país, a AES Eletropaulo, na qual se pode verificar a necessidade de utilização de modelos de construção de cenários, referenciados no desenvolvimento desta pesquisa, em razão dos resultados decorrentes do uso de metodologias tradicionais, que poderão impactar no nível de contratação de energia, condicionada a fatores macroeconômicos, sociais, institucionais, ambientais, tecnológicos etc, que apresentam uma relação de interdependência entre si, configurando uma extensa rede de influências mútuas

Os recursos energéticos naturais não estão distribuídos uniformemente pelo globo terrestre, e são raros os países que os têm na quantidade e na qualidade que necessitam para atender as suas necessidades. Ante a essa realidade, o comércio de energéticos tem sido a forma principal de acesso dos países que não os dispõem em relação as suas necessidades. Esse comércio, que muitas vezes é regido por tratados ou acordos firmados entre países ou blocos econômicos regionais, diversificou-se, traspassou fronteiras e, atualmente, tornou-se um item significativo nas pautas de exportações de vários países. A evolução desse comércio tem a favor a alternativa de integração por meio de interconexões estratégicas de redes e da constituição de mercados comuns, que viabilizam a exploração do potencial de complementariedade energética de forma mais racional. Diante desse contexto, esta dissertação apresenta um estudo exploratório que avalia o estado da arte da integração energética sul-americana e faz análises dos modelos técnicos, das regulamentações, das regulações regionais e multilaterais estabelecidas pelos blocos econômicos sul-americanos e pela Organização Mundial do Comércio. De forma complementar, o estudo verifica e apresenta os fatores que podem comprometer o avanço e a instituição de um futuro mercado comum de energia no continente, conclui pela viabilidade do prosseguimento de ações em prol da ampliação da integração da indústria de energia elétrica na América do Sul e tece recomendações. Os resultados e as recomendações deste trabalho oferecem um embasamento procedimental para a gestão e a atuação institucional dos envolvidos no processo de integração energética da indústria de energia elétrica da região sul americana. / Natural energy resources are not evenly distributed across the globe and few countries have them in quantity and quality they require to meet their needs. According to this reality, countries that do not have those resources use the energy trade as the main way to have access them in order to fulfill their needs. This trade, which is often governed by treaties or agreements between countries or regional economic blocs, has diversified, surpassed borders and today has become a significant item on the agendas of exports from several countries. This trade evolution is in favor of the alternative of integration through strategic interconnection of networks and the creation of common markets, which enables the exploitation of the energy potential complementarity in a more rational way. In this context, this paper presents an exploratory study that assesses the state of the art of the South American energy integration and analyzes technical models, regulations, regional and multilateral regulations established by the South American economic blocs and the World Trade Organization. In addition, the study verifies and displays the factors that can undermine the progress and the establishment of a future common energy market in the continent and completes the feasibility of further actions towards the expansion of the power industry integration in South America and gives recommendations. The results and recommendations of this study offer a procedural basis for management and institutional performance of the energy involved entities in the integration process of the power industry of the South American region.

Combined heat and power (CHP) is a technology that decreases total fuel consumption and related greenhouse gas emissions by producing both electricity and useful thermal energy from a single energy source. In the industrial and commercial sectors, a typical CHP site relies upon the electricity distribution network for significant periods, i.e., for purchasing power from the grid during periods of high demand or when off-peak electricity tariffs are available. On the other hand, in some cases, a CHP plant is allowed to sell surplus power to the grid during on-peak hours when electricity prices are highest while all operating constraints and local demands are satisfied. Therefore, if the plant is connected with the external grid and allowed to participate in open energy markets in the future, it could yield significant economic benefits by selling/buying power depending on market conditions. This is achieved by solving the power system generation scheduling problem using mathematical programming. In this work, we present the application of mixed-integer nonlinear programming (MINLP) approach for scheduling of a CHP plant in the day-ahead wholesale energy markets. This work employs first principles models to describe the nonlinear dynamics of a CHP plant and its individual components (gas and steam turbines, heat recovery steam generators, and auxiliary boilers). The MINLP framework includes practical constraints such as minimum/maximum power output and steam flow restrictions, minimum up/down times, start-up and shut-down procedures, and fuel limits. We provide case studies involving the Hal C. Weaver power plant complex at the University of Texas at Austin to demonstrate this methodology. The results show that the optimized operating strategies can yield substantial net incomes from electricity sales and purchases. This work also highlights the application of a nonlinear model predictive control scheme to a heavy-duty gas turbine power plant for frequency and temperature control. This scheme is compared to a classical PID/logic based control scheme and is found to provide superior output responses with smaller settling times and less oscillatory behavior in response to disturbances in electric loads. / text