Valuation, Hedging and Speculation in Competitive Electricity Markets: A Fundamental Approach
The challenges currently facing particIpants m competitive electricity markets are unique and staggering: unprecedented price volatility, a crippling lack of historical market data on which to test new modeling approaches, and a continuously changing regulatory structure. Meeting these challenges wi...
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| Main Authors: | , |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Boston, MA
Springer US
2001
|
| Series: | The Springer International Series in Engineering and Computer Science, Power Electronics and Power Systems
|
| Subjects: | |
| Online Access: | FHI01 BTU01 Volltext |
| Summary: | The challenges currently facing particIpants m competitive electricity markets are unique and staggering: unprecedented price volatility, a crippling lack of historical market data on which to test new modeling approaches, and a continuously changing regulatory structure. Meeting these challenges will require the knowledge and experience of both the engineering and finance communities. Yet the two communities continue to largely ignore each other. The finance community believes that engineering models are too detailed and complex to be practically applicable in the fast changing market environment. Engineers counter that the finance models are merely statistical regressions, lacking the necessary structure to capture the true dynamic properties of complex power systems. While both views have merit, neither group has by themselves been able to produce effective tools for meeting industry challenges. The goal of this book is to convey the fundamental differences between electricity and other traded commodities, and the impact these differences have on valuation, hedging and operational decisions made by market participants. The optimization problems associated with these decisions are formulated in the context of the market realities of today's power industry, including a lack of liquidity on forward and options markets, limited availability of historical data, and constantly changing regulatory structures |
| Physical Description: | 1 Online-Ressource (XV, 214 p) |
| ISBN: | 9781461517016 |
| DOI: | 10.1007/978-1-4615-1701-6 |
Staff View
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| isbn | 9781461517016 |
| language | English |
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| spelling | Skantze, Petter L. Verfasser aut Valuation, Hedging and Speculation in Competitive Electricity Markets A Fundamental Approach by Petter L. Skantze, Marija D. Ilic Boston, MA Springer US 2001 1 Online-Ressource (XV, 214 p) txt rdacontent c rdamedia cr rdacarrier The Springer International Series in Engineering and Computer Science, Power Electronics and Power Systems The challenges currently facing particIpants m competitive electricity markets are unique and staggering: unprecedented price volatility, a crippling lack of historical market data on which to test new modeling approaches, and a continuously changing regulatory structure. Meeting these challenges will require the knowledge and experience of both the engineering and finance communities. Yet the two communities continue to largely ignore each other. The finance community believes that engineering models are too detailed and complex to be practically applicable in the fast changing market environment. Engineers counter that the finance models are merely statistical regressions, lacking the necessary structure to capture the true dynamic properties of complex power systems. While both views have merit, neither group has by themselves been able to produce effective tools for meeting industry challenges. The goal of this book is to convey the fundamental differences between electricity and other traded commodities, and the impact these differences have on valuation, hedging and operational decisions made by market participants. The optimization problems associated with these decisions are formulated in the context of the market realities of today's power industry, including a lack of liquidity on forward and options markets, limited availability of historical data, and constantly changing regulatory structures Engineering Electrical Engineering Energy Economics Energy Policy, Economics and Management Energy policy Energy and state Electrical engineering Energy industries Ilic, Marija D. aut Erscheint auch als Druck-Ausgabe 9781461356851 https://doi.org/10.1007/978-1-4615-1701-6 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Skantze, Petter L. Ilic, Marija D. Valuation, Hedging and Speculation in Competitive Electricity Markets A Fundamental Approach Engineering Electrical Engineering Energy Economics Energy Policy, Economics and Management Energy policy Energy and state Electrical engineering Energy industries |
| title | Valuation, Hedging and Speculation in Competitive Electricity Markets A Fundamental Approach |
| title_auth | Valuation, Hedging and Speculation in Competitive Electricity Markets A Fundamental Approach |
| title_exact_search | Valuation, Hedging and Speculation in Competitive Electricity Markets A Fundamental Approach |
| title_full | Valuation, Hedging and Speculation in Competitive Electricity Markets A Fundamental Approach by Petter L. Skantze, Marija D. Ilic |
| title_fullStr | Valuation, Hedging and Speculation in Competitive Electricity Markets A Fundamental Approach by Petter L. Skantze, Marija D. Ilic |
| title_full_unstemmed | Valuation, Hedging and Speculation in Competitive Electricity Markets A Fundamental Approach by Petter L. Skantze, Marija D. Ilic |
| title_short | Valuation, Hedging and Speculation in Competitive Electricity Markets |
| title_sort | valuation hedging and speculation in competitive electricity markets a fundamental approach |
| title_sub | A Fundamental Approach |
| topic | Engineering Electrical Engineering Energy Economics Energy Policy, Economics and Management Energy policy Energy and state Electrical engineering Energy industries |
| topic_facet | Engineering Electrical Engineering Energy Economics Energy Policy, Economics and Management Energy policy Energy and state Electrical engineering Energy industries |
| url | https://doi.org/10.1007/978-1-4615-1701-6 |
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