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Evaluation of hydropower upgrade projects - a real options approach
Elverhøi, Morten; Fleten, Stein-Erik; Fuss, Sabine; … - Volkswirtschaftliche Fakultät, … - 2010
aspects to take into consideration. These are the capacity chosen for the production facilities and the timing of the … investment. This paper presents an investment decision support framework for hydropower producers with production facilities due … for restoration. The producer can choose between refurbishing existing power plants and investing in a new production …
Persistent link: https://www.econbiz.de/10008494200
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Specifying An Efficient Renewable Energy Feed-in Tariff
Farrell, Niall; Devine, Mel; Lee, William; Gleeson, James; … - Volkswirtschaftliche Fakultät, … - 2013
This paper derives efficient pricing formulae for renewable energy Feed-in Tariff (FiT) designs that incorporate exposure to uncertain market prices by using option pricing theory. Such FiT designs are presented as a means to delineate market price risk amongst investors and policymakers when...
Persistent link: https://www.econbiz.de/10011261131
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Financial Management of Weather Risk with Energy Derivatives
Janda, Karel; Vylezik, Tomas - Volkswirtschaftliche Fakultät, … - 2011
In this paper we describe the major issues in the weather risk management. We focus on the management of financial risks connected with weather. We first provide a general discussion of the impact of weather on the economy. Then we follow with the overview of the development of the weather risk...
Persistent link: https://www.econbiz.de/10009372535
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Investment timing and optimal capacity choice for small hydropower projects
Bøckman, Thor; Fleten, Stein-Erik; Juliussen, Erik; … - Volkswirtschaftliche Fakultät, … - 2006
production in a plant, based on all the important choices for such a plant. The main results of the spreadsheet are simulated … production size and the investment costs, which are in turn used for finding the value of the real option and the price limit …
Persistent link: https://www.econbiz.de/10005620027
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Modeling long-term electricity forward prices
Povh, Martin; Fleten, Stein-Erik - Volkswirtschaftliche Fakultät, … - 2009
In contrast to forwards and futures on storable commodities, prices of long-term electricity forwards exhibit a dynamics different to that of short-term and mid-term prices. We model long-term electricity forward prices through demand and supply for electricity, adjusted with a risk premium....
Persistent link: https://www.econbiz.de/10005621703
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Linepack storage valuation under price uncertainty
Arvesen, Øystein; Medbø, Vegard; Fleten, Stein-Erik; … - Volkswirtschaftliche Fakultät, … - 2012
Natural gas flows in pipelines as a consequence of the pressure difference at the inlet and outlet. Adjusting these pressures makes it possible to inject natural gas at one rate and withdraw at a different rate, hence using the pipeline as storage as well as transport. We study the value of...
Persistent link: https://www.econbiz.de/10011111228
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Electricity Prices and Generator Behaviour in Gross Pool Electricity Markets
O'Mahoney, Amy; Denny, Eleanor - Volkswirtschaftliche Fakultät, … - 2011
Electricity market liberalisation has become common practice internationally. The justification for this process has been to enhance competition in a market traditionally characterised by statutory monopolies in an attempt to reduce costs to end-users. This paper endeavours to see whether a pool...
Persistent link: https://www.econbiz.de/10009368158
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The Merit Order Effect of Wind Generation on the Irish Electricity Market
O'Mahoney, Amy; Denny, Eleanor - Volkswirtschaftliche Fakultät, … - 2011
This paper considers the cost savings arising from wind generation through the merit order effect in gross pool electricity markets, using the Irish electricity market as a case study. The Irish electricity market makes for a good testing ground due to the fact that it is a single market with...
Persistent link: https://www.econbiz.de/10011110662
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Grid integration and smart grid implementation of emerging technologies in electric power systems through approximate dynamic programming
Xiao, Jingjie - Volkswirtschaftliche Fakultät, … - 2013
A key hurdle for implementing real-time pricing of electricity is a lack of con-sumers’ responses. Solutions to overcome the hurdle include the energy management system that automatically optimizes household appliance usage such as plug-in hybrid electric vehicle charging (and discharging with...
Persistent link: https://www.econbiz.de/10011112909
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Evaluation of Grid Level Impacts of Electric Vehicles
Safiullah, Hameed - Volkswirtschaftliche Fakultät, … - 2011
Currently, most countries are looking to reduce their dependency on imported oil. The added advantage of reducing green house gas emissions and other pollutants has been strong reasons for the growing support for Electric Vehicles. As electric vehicles would be using the power grid to charge...
Persistent link: https://www.econbiz.de/10011113512