Financial Risk Management in the Planning of Energy Recovery in the Total Site

A two-stage stochastic formulation to plan the implementation of heat integration in the total site over a long-term horizon is presented. Uncertainty in the price of heating utility and the operational level of the plants is considered. Financial risk is introduced and its management is discussed a...

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Bibliographic Details
Published in:Industrial & engineering chemistry research 2003-10, Vol.42 (21), p.5239-5248
Main Authors: Bagajewicz, Miguel J, Barbaro, Andrés F
Format: Article
Language:English
Subjects:
Applied sciences
Energy
Energy. Thermal use of fuels
Exact sciences and technology
Rational use of energy: conservation and recovery of energy
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Summary:A two-stage stochastic formulation to plan the implementation of heat integration in the total site over a long-term horizon is presented. Uncertainty in the price of heating utility and the operational level of the plants is considered. Financial risk is introduced and its management is discussed and incorporated into the model. Finally, a multiperiod model for the detailed heat-exchanger location planning is presented.
ISSN:0888-5885
1520-5045
DOI:10.1021/ie020389u