Abstract
Energy is a vital part of human life but by excessive energy consumption, there are more concerns on the agendas of many governments so that it is very essential to have competent energy management. Although the Markowitz model (MM) is a suitable tool for optimizing the portfolio in the financial field, it is practical in the field of energy. For this purpose, energy portfolio optimization (EPO) is a quantitative pragmatic tool according to the capacities and constraints of a country, and considering risk management, provides beneficial information for energy policymakers which helps them in decision making. In this paper, in addition to applying the Markowitz model, the issue of uncertainty is also considered for better decision making. Evaluating CO2 emission is necessary for energy management systems, as a result, there is an objective function for calculating the amount of CO2 emission. Also, we use a goal programming approach for optimizing objective functions. We selected Iran as the case study which has enough fossil and renewable energy resources. Finally, this model presents an optimal energy portfolio from different resources. It is very practical in energy policy.
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Karimi, M.H., Mohammadi, E. (2021). A Multinomial Goal Programming Model Using Markowitz Model Based on Energy Portfolio Under Uncertainty. In: Allahviranloo, T., Salahshour, S., Arica, N. (eds) Progress in Intelligent Decision Science. IDS 2020. Advances in Intelligent Systems and Computing, vol 1301. Springer, Cham. https://doi.org/10.1007/978-3-030-66501-2_24
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DOI: https://doi.org/10.1007/978-3-030-66501-2_24
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