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replacement cost of energy objects is generally well above the income generated by the
objects. The replacement cost, however, is closer to the value suggested, in legal acts that
regulate accounting and valuation, and in European valuation standards, for accounting of
assets of economic infrastructure companies (European Valuation Standards, 2009).
To boost the reliability of the utility analysis and market value revisions for energy objects,
the main quantitative criterion (replacement cost) is accompanied by additional quantitative
criteria—the rated capacity of energy objects (MW), and production cost (cnt/kwh). The
system measures the value of the energy objects in question by assessing the values of
qualitative and quantitative criteria. This research also includes a quantitative criterion: the
income value of the assets of the energy object determined by independent property
valuators. Several integrated values (replacement cost and income) make the measured
utility, priority and market value more reliable. The ESIAPVN-DS system lets to analyse the
object's value using a rather large set of criteria for thorough description of the environment
in question. The set may be supplemented or revised, if needed. The reliability of the
determined value depends on the importance of selected quantitative and qualitative
criteria.
The link “Computer aided development of the feasible alternatives” of the decision support
system leads to automatically assessed weights for selected criteria of the objects, and the
utility degree of the objects. The best result—the highest utility degree—belongs to Kaunas
Hydroelectric Power Plant, followed by the experimental geothermal power plant. The
geothermal power plant benefited from its use of renewable resources, and favourable
assessment of the environment. Among the advantages of Kaunas Hydroelectric Power
Plant are high profitability, positive environmental aspects, favourable public opinion about
its activities, and low production costs. Stakeholders also see these objects in a favourable
rather than hostile light.
The Lithuanian Power Plant came third by its utility. This power plant is marked by high
production costs, negative effect on the environment, high environmental costs, it also
depends on increasing prices of raw materials, and the access to resources. But its technical
indicators (capacity), as well as the ratio between the produced amounts of energy and the
cost of asset generation, make a positive impact. Kruonis Pumped-storage Hydroelectric
Power Plant has the lowest utility among all objects. Economic criteria are responsible:
rather high cost of produced energy, and high replacement cost. Low volumes of production
(electric power) at that time also made impact in the research. Now the power plant is
working at full capacity, thus the results would probably be better.
The utility degrees and values of the companies in question measured by the ESIAPVN-DS
system are rather logical; also the results come fast, the results and conclusions give more
information, the system provides recommendations and prevents errors. The values
obtained using the traditional methods and included in the set of quantitative criteria ensure
a more reliable result; they enable its comparison, and its use as a basis to validate the
measured value. They also help to make a decision on the final value of the object.
4.3.1 Recommendations in the ESIAPVN-DS System
The problem is how to define an efficient energy production technologies life cycle when a
lot of various interested parties are involved, the alternative project versions come to
hundreds thousand and the efficiency changes with the alterations in the micro, meso and
macro environment conditions and the constituent parts of the process in question.
Moreover, the realization of some objectives seems more rational from the economic and
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