Ranking power expansion alternatives for multiple objectives under certainty

 

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dc.contributor.author Heinrich, G
dc.contributor.author Basson, L
dc.contributor.author Cohen, B
dc.contributor.author Petrie, J
dc.contributor.author Howells, M
dc.date.accessioned 2016-02-16T13:43:50Z
dc.date.available 2016-02-16T13:43:50Z
dc.date.issued 2007
dc.identifier http://dx.doi.org/ 10.1016/j.energy.2007.06.001
dc.identifier.citation Heinrich, G., Basson, L., Cohen, B., Howells, M., & Petrie, J. (2007). Ranking and selection of power expansion alternatives for multiple objectives under uncertainty. Energy, 32(12), 2350-2369. en_ZA
dc.identifier.issn 1873-6785 en_ZA
dc.identifier.uri http://hdl.handle.net/11427/17054
dc.description.abstract Strategic planning in the electricity supply industry is a complex task due to the multiple and often conflicting objectives of the decision makers, as well as the inherent technical and valuation uncertainties involved. As such, a transparent decision support framework is needed, for guiding information management throughout the decision process, in a way which shapes decision outcomes, and enables confident choices to be made. This paper outlines a methodology for the ranking of power expansion alternatives given multiple objectives and uncertainty, and demonstrates this using the South African electricity supply industry. This methodology uses a value function MCDA approach that is augmented with scenario analysis to yield information relating to both the relative performance and credibility of power expansion alternatives. A portfolio of preferred alternatives is then identified based on performance and confidence criteria. Finally a more detailed analysis of the reduced solution set examines short-term technology investment details alongside attribute performance information, so as to gain insight into the decision problem and relate it back to real life actions. en_ZA
dc.language eng en_ZA
dc.publisher Elsevier en_ZA
dc.source Energy en_ZA
dc.source.uri http://www.journals.elsevier.com/energy-policy/
dc.title Ranking power expansion alternatives for multiple objectives under certainty en_ZA
dc.type Journal Article en_ZA
dc.date.updated 2016-02-11T08:11:25Z
uct.type.publication Research en_ZA
uct.type.resource Article en_ZA
uct.subject.keywords Electricity planning en_ZA
uct.subject.keywords Multiple criteria decision analysis en_ZA
uct.subject.keywords Value function en_ZA
uct.subject.keywords Uncertainty en_ZA
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Engineering and the Built Environment
dc.publisher.department Energy Research Centre en_ZA
uct.type.filetype Text
uct.type.filetype Image
dc.identifier.apacitation Heinrich, G., Basson, L., Cohen, B., Petrie, J., & Howells, M. (2007). Ranking power expansion alternatives for multiple objectives under certainty. <i>Energy</i>, http://hdl.handle.net/11427/17054 en_ZA
dc.identifier.chicagocitation Heinrich, G, L Basson, B Cohen, J Petrie, and M Howells "Ranking power expansion alternatives for multiple objectives under certainty." <i>Energy</i> (2007) http://hdl.handle.net/11427/17054 en_ZA
dc.identifier.vancouvercitation Heinrich G, Basson L, Cohen B, Petrie J, Howells M. Ranking power expansion alternatives for multiple objectives under certainty. Energy. 2007; http://hdl.handle.net/11427/17054. en_ZA
dc.identifier.ris TY - Journal Article AU - Heinrich, G AU - Basson, L AU - Cohen, B AU - Petrie, J AU - Howells, M AB - Strategic planning in the electricity supply industry is a complex task due to the multiple and often conflicting objectives of the decision makers, as well as the inherent technical and valuation uncertainties involved. As such, a transparent decision support framework is needed, for guiding information management throughout the decision process, in a way which shapes decision outcomes, and enables confident choices to be made. This paper outlines a methodology for the ranking of power expansion alternatives given multiple objectives and uncertainty, and demonstrates this using the South African electricity supply industry. This methodology uses a value function MCDA approach that is augmented with scenario analysis to yield information relating to both the relative performance and credibility of power expansion alternatives. A portfolio of preferred alternatives is then identified based on performance and confidence criteria. Finally a more detailed analysis of the reduced solution set examines short-term technology investment details alongside attribute performance information, so as to gain insight into the decision problem and relate it back to real life actions. DA - 2007 DB - OpenUCT DP - University of Cape Town J1 - Energy LK - https://open.uct.ac.za PB - University of Cape Town PY - 2007 SM - 1873-6785 T1 - Ranking power expansion alternatives for multiple objectives under certainty TI - Ranking power expansion alternatives for multiple objectives under certainty UR - http://hdl.handle.net/11427/17054 ER - en_ZA


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