Download Analytical Methods for Energy Diversity and Security: by Morgan Bazilian, Fabien Roques PDF

By Morgan Bazilian, Fabien Roques

This is often an excellent quantity for execs in academia, and govt attracted to the swiftly evolving quarter on the nexus among strength and weather swap coverage. The state of the art overseas contributions permit for a large assurance of the subject. strength range and protection makes a speciality of the dignity of monetary danger within the power zone. It describes how instruments borrowed from monetary monetary concept, particularly mean-variance portfolio conception, gives you insights at the bills and merits of range, and hence tell funding selection making in stipulations of uncertainty. It offers the reader an in-depth figuring out of the way to control probability at a time whilst the world's concentration is in this sector. The ebook offers insights from top gurus within the quarter of strength safety. It provides readers considerable, rigorous research and tips at a serious time in dealing with the dual demanding situations of strength safety and weather swap. The e-book additionally highlights the position of unpolluted strength know-how in relocating in the direction of destiny varied and clever electrical energy structures. it is going to be a depended on, first aspect of reference for decision-makers within the box of power policy.The publication contains a foreword through the 2007 Nobel Peace Prize winner. All royalties from sale of this booklet might be donated to charities operating within the power region within the constructing global. . Theoretical underpinning and utilized use of Portfolio conception within the strength zone. In-depth attention of hazard. Contributions from best overseas power economists. cutting edge methodologies for brooding about power protection and variety

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Read Online or Download 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) PDF

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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)

Example text

The following subsections introduce successively static (value-at-risk and portfolio theory) and dynamic approaches (real options) to value fuel mix diversity. 11 The value at risk calculates the maximum loss expected (or worst case scenario) on an investment, over a given period and given a specified degree of confidence (Brealey and Myers, 2000). The VaR approach can be applied to any portfolio of assets and liabilities, whose market values are available on a periodic basis. Typically, normal distributions are assumed with values for price volatility, based on past statistics.

This will involve a brief survey of the remarkable variety of broad strategic reasons for an interest in energy diversity. Against this background, discussion will then turn to the definition of energy diversity itself, concentrating on three quite concrete properties and their treatment in various analytical approaches. It is on this basis that the chapter will then propose a new conceptual framework for addressing these attributes, in a way that remains flexible to different interpretations and priorities, but which allows for more systematic and transparent analysis of alternative strategies for securing energy diversity.

G. in the case of equity stocks). 11 VaR is based on the common-sense fact that for investors, risk is about the odds of losing money. By assuming investors care about the odds of a big loss, VaR addresses one of the main issues with the traditional measure of risk, volatility. The main problem with volatility, indeed, is that it does not address the direction of an investment’s movement: a stock can be volatile because it suddenly jumps higher. But investors are not distressed by gains. Introduction xxxv 5% chance of an adverse price movement within the next holding period.

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