Continuity of energy supplies is a central aspect of concerns about energy security. Although the continuity of supplies can be influenced by a large number of risks, most models only analyse a small subset of risk sources and often neglect interdependencies between them. In this paper we...

New entrants in liberalised electricity markets which are not vertically integrated and do not operate a large and diversified portfolio of generation technologies are likely to favour technologies which offer the best prospects to manage fuel and electricity price risks through contractual...

This paper reviews the limits of the traditional ‘levelised cost’ approach to properly take into account risks and uncertainties when valuing different power generation technologies. We introduce a probabilistic valuation model of investment in three base-load technologies (combined cycle...