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Decision Flexibility vs. Information Accuracy in Energy-intensive Businesses

Title data

Fridgen, Gilbert ; Saumweber, Andrea ; Seyfried, Johannes ; Wederhake, Lars:
Decision Flexibility vs. Information Accuracy in Energy-intensive Businesses.
In: Proceedings of the 26th European Conference on Information Systems (ECIS). - Portsmouth, UK , 2018
ISBN 978-1-86137-667-1

Official URL: Volltext

Project information

Project title:
Project's official title
Project's id
Projektgruppe WI Nachhaltiges Energiemanagement & Mobilität
No information

Abstract in another language

Demand-side management and demand response are integral building blocks for environmental sus-tainability. Exchange-based power pricing serves as an economic mechanism to set incentives to shift demand to periods where prices are low. Low power prices also serve as an indicator for green(er) power, since high feed-ins from variable renewable sources push the electricity price downward. For businesses, minimizing electricity costs thus not only contributes to economic but also environmental sustainability. Hence, especially energy-intensive businesses can become greener and more competitive by integrating volatile electricity prices into their production planning activities. In this paper, we demonstrate that the length of the planning horizons is key to achieve more sustainable outcomes due to the trade-off between decision flexibility and information accuracy. Decision flexibility – i.e. the ca-pability to shift processes – increases with longer planning horizons. Information accuracy – i.e. price accuracy – increases with shorter planning horizons. Information Systems (IS) can help to balance this trade-off. We follow a data-driven approach and derive both actual and predicted electricity spot prices from historic electricity intraday market data in Germany. We find that decision flexibility and infor-mation accuracy affect the planning horizon as conceived. First results indicate that more sustainable outcomes are achieved with longer planning horizons.

Further data

Item Type: Article in a book
Refereed: Yes
Keywords: Decision support systems; demand response; energy-aware scheduling; sustainability
Institutions of the University: Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Professor Information Systems and Digital Energy Management
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Former Professors > Professor Information Systems and Sustainable IT Management - Univ.-Prof. Dr. Gilbert Fridgen
Research Institutions
Research Institutions > Central research institutes > Bayreuth Research Center for Modeling and Simulation - MODUS
Research Institutions > Affiliated Institutes
Research Institutions > Affiliated Institutes > Branch Business and Information Systems Engineering of Fraunhofer FIT
Research Institutions > Affiliated Institutes > FIM Research Center for Information Management
Research Institutions > Central research institutes
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Former Professors
Result of work at the UBT: Yes
DDC Subjects: 000 Computer Science, information, general works > 004 Computer science
300 Social sciences > 330 Economics
Date Deposited: 30 Jul 2018 08:16
Last Modified: 10 Oct 2023 12:05
URI: https://eref.uni-bayreuth.de/id/eprint/45256