By Morgan Bazilian, Fabien Roques
This can be an awesome quantity for execs in academia, and govt drawn to the quickly evolving region on the nexus among power and weather switch coverage. The state-of-the-art foreign contributions enable for a large assurance of the subject. strength variety and safety makes a speciality of the honor of monetary chance within the power quarter. It describes how instruments borrowed from monetary financial idea, particularly mean-variance portfolio idea, promises insights at the expenditures and advantages of range, and hence tell funding selection making in stipulations of uncertainty. It provides the reader an in-depth figuring out of the way to control possibility at a time while the world's concentration is in this zone. The ebook offers insights from best gurus within the zone of strength safeguard. It offers readers considerable, rigorous research and counsel at a serious time in dealing with the dual demanding situations of strength protection and weather swap. The booklet additionally highlights the function of unpolluted strength expertise in relocating in the direction of destiny assorted and clever electrical energy structures. it will likely be a depended on, first element of reference for decision-makers within the box of power policy.The publication encompasses a foreword via the 2007 Nobel Peace Prize winner. All royalties from sale of this e-book may be donated to charities operating within the strength quarter within the constructing international. . Theoretical underpinning and utilized use of Portfolio concept within the power quarter. In-depth attention of threat. Contributions from major overseas strength economists. leading edge methodologies for considering power defense and variety
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Additional info for Analytical Methods for Energy Diversity and Security: Portfolio Optimization in the Energy Sector: A Tribute to the work of Dr. Shimon Awerbuch (Elsevier Global Energy Policy and Economics Series)
In its simplest terms, real options theory says that when the future is uncertain, it pays to have a broad range of options available and to maintain the flexibility to exercise those options. Real options theory has pointed to the shortcomings of the static valuation approaches for inputting a value on the ability of a utility to react dynamically to changing market and other conditions. Specifically, static approaches can understate, if not ignore, managerial flexibility. Real options valuation allows for adjustment of the timing of the investment decision.
Real Options: Managerial Flexibility and Strategy in Resource Allocation. Cambridge, MA: MIT Press. PART I Assessing Risks, Costs and Fuel Mix Diversity for Electric Utilities This page intentionally left blank CHAPTER 1 Diversity and Sustainable Energy Transitions Multicriteria Diversity Analysis of Electricity Portfolios Andy Stirling* Acknowledgements First and foremost, for reasons discussed in the chapter, I would like to acknowledge Shimon Awerbuch for the many stimulating conversations on issues addressed here.
These more fundamental connections persist irrespective of any speciﬁc features of particular options. At root, the real interlinkages stem from the crucial (and often neglected) fact that diversity is an intrinsic and irreducible property of an energy system taken as a whole, rather than an attribute of any individual option in that system (Stirling, 1994). As a consequence, it is meaningless to speak of any single option offering ‘diversity’, without being explicit about the energy mix and other potential substitute option contributions by reference to which this diversity is appraised.