In this paper we investigate the relationship between the crude oil and the stock market in terms of returns and volatility-spillover for the BRIC countries by using cointegration and the VECM-MGARCH technique. The results reveal that the oil and the market returns are cointegrated in all the...

When evaluating whether to refurbish existing hydropower plants or invest in a new power plant, there are two important 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...

We calibrate Markov regime-switching (MRS) models to spot (log-)prices from two major power markets. We show that while the price-capped (or truncated) spike distributions do not give any advantage over the standard specification in case of moderately spiky markets (such as NEPOOL), they improve...

The document is an analytical report on the initial results of the impact of structural reforms on investment for the period 1980-97 in general and the more recent structural reforms in the infrastructure industries in particular. In the context of these reforms it explores the connection...

The document is an analytical report on the initial results of the impact of structural reforms on investment for the period 1980-97 in general and the more recent structural reforms in the infrastructure industries in particular. In the context of these reforms it explores the connection...

The developing world is looking for effective, creative ideas for upscaling clean, renewable energy. No place will gain more socially, economically, and environmentally from increased access to clean, reliable energy than poor, rural areas. Biomass energy, produced from animal and crop wastes,...

Given the paramount importance of petroleum for the Indian economy and its increasing import dependence on this front, domestic pricing of crude oil and petroleum products assumes enormous significance for the country. The pricing regime not only influences the cost of energy for the economy as...

The present study analyzes the soiling losses of a 1 MW system installed in the South of Spain. Both the Levelized Cost of Energy and the Net Present Value are used to compare the convenience of different mitigation strategies. It is found that also PV installations located in moderate regions,...

This paper presents a method for assessing small hydropower projects that are subject to uncertain electricity prices. We present a real options-based method with continuous scaling, and we find that there is a unique price limit for initiating the project. If the current electricity price is...

In this paper we develop an optimization model to derive static hedge positions for hydropower producers with different risk characteristics. Previous research has primarily considered dynamic hedging; however, static hedging is the common choice among hydropower producers because of its...