In this paper, the authors develop a stochastic optimization model, named Optimization Modelling for Gas Seller (OMoGas), to assist companies dealing with gas retail commercialization. Stochasticity is due to the dependence of consumption on temperature uncertainty. Nonlinearities are present in both the objective function and the constraints. The model can be classified as a non-linear programming (NLP) mixed integer model, with the profit function depending on the number of contracts with the final consumers, the characteristics of such consumers and the cost supported to meet the final demand. Constraints related to a maximum daily gas consumption, yearly maximum and minimum consumption in order to avoid penalties and consumption profiles are included. The model is implemented in the General Algebraic Modeling System (GAMS) environment and the results obtained by the stochastic version, based on consumption scenarios, are compared with the deterministic solution.

(2008). A stochastic optimization model for a gas sale company [journal article - articolo]. In IMA JOURNAL OF MANAGEMENT MATHEMATICS. Retrieved from http://hdl.handle.net/10446/20883

A stochastic optimization model for a gas sale company

Bertocchi, Maria;Allevi, Elisabetta;Vespucci, Maria Teresa;
2008-01-01

Abstract

In this paper, the authors develop a stochastic optimization model, named Optimization Modelling for Gas Seller (OMoGas), to assist companies dealing with gas retail commercialization. Stochasticity is due to the dependence of consumption on temperature uncertainty. Nonlinearities are present in both the objective function and the constraints. The model can be classified as a non-linear programming (NLP) mixed integer model, with the profit function depending on the number of contracts with the final consumers, the characteristics of such consumers and the cost supported to meet the final demand. Constraints related to a maximum daily gas consumption, yearly maximum and minimum consumption in order to avoid penalties and consumption profiles are included. The model is implemented in the General Algebraic Modeling System (GAMS) environment and the results obtained by the stochastic version, based on consumption scenarios, are compared with the deterministic solution.
articolo
2008
Bertocchi, Maria; Allevi, Elisabetta; Vespucci, Maria Teresa; Innorta, Maria
(2008). A stochastic optimization model for a gas sale company [journal article - articolo]. In IMA JOURNAL OF MANAGEMENT MATHEMATICS. Retrieved from http://hdl.handle.net/10446/20883
File allegato/i alla scheda:
File Dimensione del file Formato  
A_stochastic_optimization_model_for_a_gas_sale_company.pdf

Solo gestori di archivio

Versione: publisher's version - versione editoriale
Licenza: Licenza default Aisberg
Dimensione del file 78.19 kB
Formato Adobe PDF
78.19 kB Adobe PDF   Visualizza/Apri
Pubblicazioni consigliate

Aisberg ©2008 Servizi bibliotecari, Università degli studi di Bergamo | Terms of use/Condizioni di utilizzo

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10446/20883
Citazioni
  • Scopus 8
  • ???jsp.display-item.citation.isi??? 8
social impact