Ranking power expansion alternatives for multiple objectives under certainty

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dc.contributor.authorHeinrich, G
dc.contributor.authorBasson, L
dc.contributor.authorCohen, B
dc.contributor.authorPetrie, J
dc.contributor.authorHowells, M
dc.date.accessioned2016-02-16T13:43:50Z
dc.date.available2016-02-16T13:43:50Z
dc.date.issued2007
dc.date.updated2016-02-11T08:11:25Z
dc.description.abstractStrategic 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.identifierhttp://dx.doi.org/ 10.1016/j.energy.2007.06.001
dc.identifier.apacitationHeinrich, 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/11427/17054en_ZA
dc.identifier.chicagocitationHeinrich, 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/11427/17054en_ZA
dc.identifier.citationHeinrich, 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.issn1873-6785en_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
dc.identifier.urihttp://hdl.handle.net/11427/17054
dc.identifier.vancouvercitationHeinrich 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.languageengen_ZA
dc.publisherElsevieren_ZA
dc.publisher.departmentEnergy Research Centreen_ZA
dc.publisher.facultyFaculty of Engineering and the Built Environment
dc.publisher.institutionUniversity of Cape Town
dc.sourceEnergyen_ZA
dc.source.urihttp://www.journals.elsevier.com/energy-policy/
dc.titleRanking power expansion alternatives for multiple objectives under certaintyen_ZA
dc.typeJournal Articleen_ZA
uct.subject.keywordsElectricity planningen_ZA
uct.subject.keywordsMultiple criteria decision analysisen_ZA
uct.subject.keywordsValue functionen_ZA
uct.subject.keywordsUncertaintyen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceArticleen_ZA
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