Valuing and optimizing scheduling of generation assets
First Claim
1. A computerized method for facilitating scheduling of operation of a facility for at least a first time interval of a period of time, the method comprising:
- generating a decision tree based model accounting for a combined effect, on the scheduling of the operation of the facility, of;
at least one specified forward price path, over the period of time, including at least one price of at least one commodity associated with operation of the facility;
at least one specified level of uncertainty with regard to the at least one specified forward price path; and
, at least one specified constraint associated with at least a first state of at least one state of at least one operating parameter associated with the operation of the facility;
applying a dynamic optimization algorithm to the decision tree based model to determine an optimal scheduling option for at least the first interval of time; and
, storing in a memory optimal scheduling option information associated with the optimal scheduling option.
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Accused Products
Abstract
The present invention provides methods and systems for determining anticipated profit from facilities such as electrical power generation facilities, for determining values for assets based on profitability of facilities, and for determining optimal operational scheduling options for facilities. Methods and systems are provided which utilize a dynamic programming algorithm and a decision tree based model in which one or more operating constraints are implicitly modeled, facilitating computational tractability. Additionally, methods and systems are provided that utilize a dynamic programming algorithm and a decision tree based model that accounts for a combined effect of price paths with specified uncertainty as well as operational constraints. Furthermore, methods and systems are provided that address profitability, valuation, and scheduling in relation to a group, or portfolio, of facilities, accounting for liquidity factors as well as group, or global, constraints.
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Citations
48 Claims
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1. A computerized method for facilitating scheduling of operation of a facility for at least a first time interval of a period of time, the method comprising:
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generating a decision tree based model accounting for a combined effect, on the scheduling of the operation of the facility, of;
at least one specified forward price path, over the period of time, including at least one price of at least one commodity associated with operation of the facility;
at least one specified level of uncertainty with regard to the at least one specified forward price path; and
,at least one specified constraint associated with at least a first state of at least one state of at least one operating parameter associated with the operation of the facility;
applying a dynamic optimization algorithm to the decision tree based model to determine an optimal scheduling option for at least the first interval of time; and
,storing in a memory optimal scheduling option information associated with the optimal scheduling option. - View Dependent Claims (2)
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3. A computerized method for determining an anticipated profitability of operation of a facility over a period of time, the method comprising:
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generating a decision tree based model accounting for a combined effect, on scheduling of the operation of the facility over the period of time, of;
at least one specified forward price path, over the period of time, including at least one price of at least one commodity associated with operation of the facility;
at least one specified level of uncertainty with regard to the at least one specified forward price path; and
,at least one specified constraint associated with at least a first state of at least one state of at least one operating parameter associated with the operation of the facility;
applying a dynamic optimization algorithm to the decision tree based model to determine the anticipated profitability over the period of time; and
,storing in a memory anticipated profitability information associated with the anticipated profitability. - View Dependent Claims (4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37)
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38. A computer usable medium storing program code which, when executed by a computer, causes the computer to execute a computerized method for facilitating scheduling of operation of a facility for at least a first time interval of a period of time, the method comprising:
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generating a decision tree based model accounting for a combined effect, on the scheduling of the operation of the facility, of;
at least one specified forward price path, over the period of time, including at least one price of at least one commodity associated with operation of the facility;
at least one specified level of uncertainty with regard to the at least one specified forward price path; and
,at least one specified constraint associated with at least a first state of at least one state of at least one operating parameter associated with the operation of the facility;
applying a dynamic optimization algorithm to the decision tree based model to determine an optimal scheduling option for at least the first interval of time; and
,storing optimal scheduling option information associated with the optimal scheduling option in a memory. - View Dependent Claims (39)
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40. A computer usable medium storing program code which, when executed by a computer, causes the computer to execute a computerized method for determining an anticipated profitability of operation of a facility over a period of time, the method comprising:
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generating a decision tree based model accounting for a combined effect, on scheduling of the operation of the facility over the period of time, of;
at least one specified forward price path, over the period of time, including at least one price of at least one commodity associated with operation of the facility;
at least one specified level of uncertainty with regard to the at least one specified forward price path; and
,at least one specified constraint associated with at least a first state of at least one state of at least one operating parameter associated with the operation of the facility;
applying a dynamic optimization algorithm to the decision tree based model to determine the anticipated profitability over the period of time; and
storing in a memory anticipated profitability information associated with the anticipated profitability. - View Dependent Claims (41)
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42. A computerized system for facilitating scheduling of operation of a facility for at least a first time interval of a period of time, the system comprising:
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means for generating a decision tree based model accounting for a combined effect, on the scheduling of the operation of the facility, of;
at least one specified forward price path, over the period of time, including at least one price of at least one commodity associated with operation of the facility;
at least one specified level of uncertainty with regard to the at least one specified forward price path; and
,at least one specified constraint associated with at least a first state of at least one state of at least one operating parameter associated with the operation of the facility;
means for applying a dynamic optimization algorithm to the decision tree based model to determine an optimal scheduling option for at least the first interval of time; and
means for storing in a memory optimal scheduling option information associated with the optimal scheduling option. - View Dependent Claims (43)
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44. A computerized system for determining an anticipated profitability of operation of a facility over a period of time, the system comprising:
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means for generating a decision tree based model accounting for a combined effect, on scheduling of the operation of the facility, of;
at least one specified forward price path, over the period of time, including at least one price of at least one commodity associated with operation of the facility;
at least one specified level of uncertainty with regard to the at least one specified forward price path; and
,at least one specified constraint associated with at least a first state of at least one state of at least one operating parameter associated with the operation of the facility; and
means for applying a dynamic optimization algorithm to the decision tree based model to determine the anticipated profitability over the period of time. - View Dependent Claims (45)
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46. A computerized system for facilitating scheduling of operation of a facility for at least a first time interval of a period of time, the system comprising:
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a processor; and
memory accessible by the processor;
wherein the processor is programmed for;
generating a decision tree based model accounting for a combined effect, on optimization of the scheduling of the operation of the facility, of;
at least one specified forward price path, over the period of time, including at least one price of at least one commodity associated with operation of the facility, the at least one specified forward price path being determined from information stored in the memory;
at least one specified level of uncertainty with regard to the at least one specified forward price path, the at least one specified level of uncertainty being determined from information stored in the memory; and
,at least one specified constraint associated with at least a first state of at least one state of at least one operating parameter associated with the operation of the facility, the at least one specified constraint being determined from information stored in the memory; and
applying a dynamic optimization algorithm to the decision tree based model to determine an optimal scheduling option for at least the first interval of time. - View Dependent Claims (47)
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48. A computational method for facilitating scheduling of operation of a facility for at least a first time interval of a period of time, the method comprising:
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generating a decision tree based model accounting for a combined effect, on the scheduling of the operation of the facility, of;
at least one specified forward price path, over the period of time, including at least one price of at least one commodity associated with operation of the facility;
at least one specified level of uncertainty with regard to the at least one specified forward price path; and
,at least one specified constraint associated with at least a first state of at least one state of at least one operating parameter associated with the operation of the facility; and
applying a dynamic optimization algorithm to the decision tree based model to determine an optimal scheduling option for at least the first interval of time.
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Specification