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Power generation mix optimization using mean-lower partial moments (LPM) portfolio theory

Optimization of power generation technology mix using portfolio theory is related to finding the optimal set of technologies under acceptable level of (price) risk which will provide minimal cost of electricity production for the generation company, or provide maximum profit. On the other hand, a generation company can set the cost of production as a fixed parameter, and then look for optimal set of technologies which would minimize price risk.

Lower partial moments ; Monte Carlo ; Portfolio theory ; power generation mix optimization

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