A two-stage stochastic optimization model for a gas sale retailer

Title:

A two-stage stochastic optimization model for a gas sale retailer

Creator:

Maggioni, Francesca, Vespucci, Maria Teresa, Allevi, Elisabetta , Bertocchi, Marida, and Innorta, Mario

Identifier:

https://cdk.lib.cas.cz/client/handle/uuid:a754f12e-9b7b-413f-a32b-2f5ccf1306cb
uuid:a754f12e-9b7b-413f-a32b-2f5ccf1306cb

Subject:

gas sale company, mean reverting process, and stochastic programming

Type:

model:article and TEXT

Format:

bez média and svazek

Description:

The paper deals with a new stochastic optimization model, named OMoGaS-SV (Optimization Modelling for Gas Seller-Stochastic Version), to assist companies dealing with gas retail commercialization. Stochasticity is due to the dependence of consumptions on temperature uncertainty. Due to nonlinearities present in the objective function, the model can be classified as an NLP mixed integer model, with the profit function depending on the number of contracts with the final consumers, the typology of such consumers and the cost supported to meet the final demand. Constraints related to a maximum daily gas consumption, to yearly maximum and minimum consumption in order to avoid penalties and to consumption profiles are included. The results obtained by the stochastic version give clear indication of the amount of losses that may appear in the gas seller's budget and are compared with the results obtained by the deterministic version (see Allevi et al. \cite{ABIV}).

Language:

English

Rights:

http://creativecommons.org/publicdomain/mark/1.0/
policy:public

Coverage:

[277]-296

Source:

Kybernetika | 2008 Volume:44 | Number:2

Harvested from:

CDK

Metadata only:

false