Industrial & Engineering Chemistry Research, Vol.42, No.21, 5239-5248, 2003
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 and incorporated into the model. Finally, a multiperiod model for the detailed heat-exchanger location planning is presented.