Selection of energy projects: the effect of decision making on the relationship between energy source and sales price
DOI:
https://doi.org/10.5585/iji.v10i3.20308Keywords:
Decision making, Multi-criteria, Energy auctions, Project portfolio management.Abstract
Objective of the study: This study aims to identify the effect of decision making on the relationship between the energy source and the establishment of the sales price in electricity auctions for the selection of auction projects.
Methodology / approach: Statistical tests were performed on an auction base that concentrates the majority of energy auctions held in the Brazilian market. The relationships between the establishment of the sales price and energy sources and the moderating effect of power, hours of operation, and period of use on this main relationship were evaluated.
Originality / Relevance: The formation of a portfolio of electric energy projects through the prior selection of energy auction projects, via a multi-criteria decision-making process, is a valid strategy for companies in the sector.
Main results: It was identified that there is awareness of the sales price based on the energy source and relevant criteria for decision making, such as capacity and implementation period.
Theoretical-methodological contributions: This study contributes to a process of analysis and preparation of the secondary database of electricity auctions made available by the Electric Energy Commercialization Chamber (CCEE). The theoretical contribution is made by enabling the use of multi-criteria processes for decision making.
Contributions to Society / management: Managers can use the methodology applied in this study to create a portfolio of projects with less risk for decision making.
Downloads
References
Archer, N. P., & Ghasemzadeh, F. (1999). An integrated framework for project portfolio selection. International Journal of Project Management, 17(4), 207–216. https://doi.org/10.1016/S0263-7863(98)00032-5
Augusto Cauchick Miguel, P. (2008). Portfolio management and new product development implementation: A case study in a manufacturing firm. International Journal of Quality & Reliability Management, 25(1), 10–23. https://doi.org/10.1108/02656710810843540
Azuela, G. E., Barroso, L., Khanna, A., Wang, X., Wu, Y., & Cunha, G. (2014). Performance of Renewable Energy Auctions: Experience in Brazil, China and India. The World Bank. https://doi.org/10.1596/1813-9450-7062
Beccali, M., Cellura, M., & Ardente, D. (1998). Decision making in energy planning: The ELECTRE multicriteria analysis approach compared to a FUZZY-SETS methodology. Energy Conversion and Management, 39(16–18), 1869–1881. https://doi.org/10.1016/S0196-8904(98)00053-3
Begičević, N., Divjak, B., & Hunjak, T. (2010). Decision-making on prioritization of projects in higher education institutions using the analytic network process approach. Central European Journal of Operations Research, 18(3), 341–364. https://doi.org/10.1007/s10100-009-0113-3
CCEE. (2021, dezembro). CCEE apresentou ao mercado financeiro conquistas do setor elétrico em 2021. CCEE. https://www.ccee.org.br/-/ccee-apresentou-ao-mercado-financeiro-conquistas-do-setor-eletrico-em-2021
CCEE. (2022, janeiro 5). 2021: CCEE realizou 9 leilões em ano marcado pela inédita contratação de reserva de capacidade—CCEE [Org]. CCEE. https://www.ccee.org.br/-/2021-ccee-realizou-9-leiloes-em-ano-marcado-pela-inedita-contratacao-de-reserva-de-capacidade
Creswell, J. W. (2010). Projeto de pesquisa métodos qualitativo, quantitativo e misto. Sage.
Dalfovo, M. S., Lana, R. A., & Silveira, A. (2008). Métodos quantitativos e qualitativos: um resgate teórico. 13.
Danila, N. (1989). Strategic evaluation and selection of R&D projects. 19(1).
del Río, P. (2017). Designing auctions for renewable electricity support. Best practices from around the world. Energy for Sustainable Development, 41, 1–13. https://doi.org/Edwards
Edwards, W. (1954). The theory of decision making. 38.
Evans, A., Strezov, V., & Evans, T. J. (2009). Assessment of sustainability indicators for renewable energy technologies. Renewable and Sustainable Energy Reviews, 13(5), 1082–1088. https://doi.org/10.1016/j.rser.2008.03.008
Ferreira, H. L., & Patah, L. A. (2017). Renewable energy: The role of the auctions of energy in Brazil and the acting of the sources of biomass. Revista Gestão & Tecnologia, 17(2), 51–65. https://doi.org/10.20397/2177-6652/2017.v17i2.1147
Gwo-Hshiung, T., Tzay-an, S., & Chien-Yuan, L. (1992). Application of multicriteria decision making to the evaluation of new energy system development in Taiwan. Energy, 17(10), 983–992. https://doi.org/10.1016/0360-5442(92)90047-4
Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2009). Análise multivariada de dados (6a Ed.). Bookman.
Hammond, G. P. (2004). Engineering sustainability: Thermodynamics, energy systems, and the environment. International Journal of Energy Research, 28(7), 613–639. https://doi.org/10.1002/er.988
Hansen, U. E., Nygaard, I., Morris, M., & Robbins, G. (2020). The effects of local content requirements in auction schemes for renewable energy in developing countries: A literature review. Renewable and Sustainable Energy Reviews, 127, 109843. https://doi.org/10.1016/j.rser.2020.109843
Hayes, A. F., Montoya, A. K., & Rockwood, N. J. (2017). The Analysis of Mechanisms and Their Contingencies: PROCESS versus Structural Equation Modeling. Australasian Marketing Journal, 25(1), 76–81. https://doi.org/10.1016/j.ausmj.2017.02.001
Hernández-Torres, D., Urdaneta Urdaneta, A. J., & De Oliveira-De Jesus, P. (2015). A hierarchical methodology for the integral net energy design of small-scale hybrid renewable energy systems. Renewable and Sustainable Energy Reviews, 52, 100–110. https://doi.org/Ioannou
Ioannou, A., Angus, A., & Brennan, F. (2017). Risk-based methods for sustainable energy system planning: A review. Renewable and Sustainable Energy Reviews, 74, 602–615. https://doi.org/10.1016/j.rser.2017.02.082
Jayaraman, R., Colapinto, C., Torre, D. L., & Malik, T. (2015). Multi-criteria model for sustainable development using goal programming applied to the United Arab Emirates. Energy Policy, 87, 447–454. https://doi.org/10.1016/j.enpol.2015.09.027
Kaya, T., & Kahraman, C. (2011). Multicriteria decision making in energy planning using a modified fuzzy TOPSIS methodology. Expert Systems with Applications, 38(6), 6577–6585. https://doi.org/10.1016/j.eswa.2010.11.081
Kuleli Pak, B., Albayrak, Y. E., & Erensal, Y. C. (2017). Evaluation of sources for the sustainability of energy supply in Turkey. Environmental Progress & Sustainable Energy, 36(2), 627–637. https://doi.org/10.1002/ep.12507
Meade, L. M., & Presley, A. (2002). R&D project selection using the analytic network process. IEEE Transactions on Engineering Management, 49(1), 59–66. https://doi.org/10.1109/17.985748
Meskendahl, S. (2010). The influence of business strategy on project portfolio management and its success—A conceptual framework. International Journal of Project Management, 28(8), 807–817. https://doi.org/10.1016/j.ijproman.2010.06.007
Müller, R., Martinsuo, M., & Blomquist, T. (2008). Project Portfolio Control and Portfolio Management Performance in Different Contexts. Project Management Journal, 39(3), 28–42. https://doi.org/10.1002/pmj.20053
Neverauskas, B., & Čiutienė, R. (2011). The theoretical approach to project portfolio maturity management. Economics and management, 16, 8.
Olsson, R. (2008). Risk management in a multi‐project environment: An approach to manage portfolio risks. International Journal of Quality & Reliability Management, 25(1), 60–71. https://doi.org/10.1108/02656710810843586
Padovani, M., Carvalho, M. M. de, & Muscat, A. R. N. (2010). Seleção e alocação de recursos em portfólio de projetos: Estudo de caso no setor químico. Gestão & Produção, 17(1), 157–180. https://doi.org/10.1590/S0104-530X2010000100013
Rabechini Jr., R., Maximiano, A. C. A., & Martins, V. A. (2005). A adoção de gerenciamento de portfolio como uma alternativa gerencial: O caso de uma empresa prestadora de serviço de interconexão eletrônica. Production, 15(3), 416–433. https://doi.org/10.1590/S0103-65132005000300011
Ren21-11. (2011). Renewables in Cities 2021 Global Status Report. 116.
Ren21-17. (2017). Renewables global futures report: Great debates towards 100% renewable energy.
Resende Loureiro, R., Goldman, F. L., & Santos de Oliveira Neto, M. (2018). Gestão de portfólio de projetos com auxílio do Método AHP. Sistemas & Gestão, 13(3), 295–310. https://doi.org/10.20985/1980-5160.2018.v13n3.1309
San Cristóbal, J. R. (2011). Multi-criteria decision-making in the selection of a renewable energy project in spain: The Vikor method. Renewable Energy, 36(2), 498–502. https://doi.org/10.1016/j.renene.2010.07.031
Sanchez, H., Robert, B., & Pellerin, R. (2008). A Project Portfolio Risk-Opportunity Identification Framework. Project Management Journal, 39(3), 97–109. https://doi.org/10.1002/pmj.20072
Sauer, I. L., de Queiroz, M. S., Miragaya, J. C. G., Mascarenhas, R. C., & Júnior, A. R. Q. (2006). 01 Energias renováveis. 16(1), 14.
Streimikiene, D., Balezentis, T., Krisciukaitienė, I., & Balezentis, A. (2012). Prioritizing sustainable electricity production technologies: MCDM approach. Renewable and Sustainable Energy Reviews, 16(5), 3302–3311. https://doi.org/10.1016/j.rser.2012.02.067
Teller, J. (2013). Portfolio Risk Management and Its Contribution to Project Portfolio Success: An Investigation of Organization, Process, and Culture. Project Management Journal, 44(2), 36–51. https://doi.org/10.1002/pmj.21327
Teller, J., & Kock, A. (2013). An empirical investigation on how portfolio risk management influences project portfolio success. International Journal of Project Management, 31(6), 817–829. https://doi.org/10.1016/j.ijproman.2012.11.012
Terciote, R. (2002). A energia eólica e o meio ambiente. 7.
Theodorou, S., Florides, G., & Tassou, S. (2010). The use of multiple criteria decision making methodologies for the promotion of RES through funding schemes in Cyprus, A review. Energy Policy, 38(12), 7783–7792. https://doi.org/10.1016/j.enpol.2010.08.038
Tiepolo, G. M., Castagna, A. G., Canciglieri Junior, O., & Betini, R. C. (2012). Fontes Renováveis de Energia e a Influência no Planejamento Energético Emergente no Brasil.
Tsoutsos, T., Drandaki, M., Frantzeskaki, N., Iosifidis, E., & Kiosses, I. (2009). Sustainable energy planning by using multi-criteria analysis application in the island of Crete. Energy Policy, 37(5), 1587–1600. https://doi.org/10.1016/j.enpol.2008.12.011
Walter, A. (2003). Fomento à geração elétrica com fontes renováveis de energia no meio rural brasileiro: Barreiras, ações e perspectivas. 9.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 International Journal of Innovation
![Creative Commons License](http://i.creativecommons.org/l/by-nc-sa/4.0/88x31.png)
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
- Abstract 233
- PDF 246