Valuation Hedging And Speculation In Competitive Electricity Markets
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Valuation Hedging And Speculation In Competitive Electricity Markets
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Author : Petter L. Skantze
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Valuation Hedging And Speculation In Competitive Electricity Markets written by Petter L. Skantze and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Technology & Engineering categories.
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.
Pricing In Competitive Electricity Markets
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Author : Ahmad Faruqui
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Pricing In Competitive Electricity Markets written by Ahmad Faruqui and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Electricity markets are being deregulated or face new regulatory frameworks. In such changing markets, new pricing strategies will need to consider such factors as cost, value of service and pricing by objective. Pricing in Competitive Electricity Markets introduces a new family of pricing concepts, methodologies, models, tools and databases focused on market-based pricing. This book reviews important theoretical pricing issues as well as practical pricing applications for changing electricity markets.
Energy And Power Risk Management
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Author : Alexander Eydeland
language : en
Publisher: John Wiley & Sons
Release Date : 2003-02-03
Energy And Power Risk Management written by Alexander Eydeland and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-02-03 with Business & Economics categories.
Praise for Energy and Power Risk Management "Energy and Power Risk Management identifies and addresses the key issues in the development of the turbulent energy industry and the challenges it poses to market players. An insightful and far-reaching book written by two renowned professionals." -Helyette Geman, Professor of Finance University Paris Dauphine and ESSEC "The most up-to-date and comprehensive book on managing energy price risk in the natural gas and power markets. An absolute imperative for energy traders and energy risk management professionals." -Vincent Kaminski, Managing Director Citadel Investment Group LLC "Eydeland and Wolyniec's work does an excellent job of outlining the methods needed to measure and manage risk in the volatile energy market." -Gerald G. Fleming, Vice President, Head of East Power Trading, TXU Energy Trading "This book combines academic rigor with real-world practicality. It is a must-read for anyone in energy risk management or asset valuation." -Ron Erd, Senior Vice President American Electric Power
Modeling And Forecasting Electricity Loads And Prices
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Author : Rafal Weron
language : en
Publisher: John Wiley & Sons
Release Date : 2007-01-30
Modeling And Forecasting Electricity Loads And Prices written by Rafal Weron and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-30 with Business & Economics categories.
This book offers an in-depth and up-to-date review of different statistical tools that can be used to analyze and forecast the dynamics of two crucial for every energy company processes—electricity prices and loads. It provides coverage of seasonal decomposition, mean reversion, heavy-tailed distributions, exponential smoothing, spike preprocessing, autoregressive time series including models with exogenous variables and heteroskedastic (GARCH) components, regime-switching models, interval forecasts, jump-diffusion models, derivatives pricing and the market price of risk. Modeling and Forecasting Electricity Loads and Prices is packaged with a CD containing both the data and detailed examples of implementation of different techniques in Matlab, with additional examples in SAS. A reader can retrace all the intermediate steps of a practical implementation of a model and test his understanding of the method and correctness of the computer code using the same input data. The book will be of particular interest to the quants employed by the utilities, independent power generators and marketers, energy trading desks of the hedge funds and financial institutions, and the executives attending courses designed to help them to brush up on their technical skills. The text will be also of use to graduate students in electrical engineering, econometrics and finance wanting to get a grip on advanced statistical tools applied in this hot area. In fact, there are sixteen Case Studies in the book making it a self-contained tutorial to electricity load and price modeling and forecasting.
Computational Intelligence And Decision Making
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Author : Ana Madureira
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-11-08
Computational Intelligence And Decision Making written by Ana Madureira and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-08 with Technology & Engineering categories.
This book provides a general overview and original analysis of new developments and applications in several areas of Computational Intelligence and Information Systems. Computational Intelligence has become an important tool for engineers to develop and analyze novel techniques to solve problems in basic sciences such as physics, chemistry, biology, engineering, environment and social sciences. The material contained in this book addresses the foundations and applications of Artificial Intelligence and Decision Support Systems, Complex and Biological Inspired Systems, Simulation and Evolution of Real and Artificial Life Forms, Intelligent Models and Control Systems, Knowledge and Learning Technologies, Web Semantics and Ontologies, Intelligent Tutoring Systems, Intelligent Power Systems, Self-Organized and Distributed Systems, Intelligent Manufacturing Systems and Affective Computing. The contributions have all been written by international experts, who provide current views on the topics discussed and present recent, original insights from their own experience in these fields.
Modelling Prices In Competitive Electricity Markets
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Author : Derek W. Bunn
language : en
Publisher: John Wiley & Sons
Release Date : 2004-04-02
Modelling Prices In Competitive Electricity Markets written by Derek W. Bunn and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-04-02 with Business & Economics categories.
Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices. The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling. Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets.
Market Operations In Electric Power Systems
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Author : Mohammad Shahidehpour
language : en
Publisher: John Wiley & Sons
Release Date : 2003-05-28
Market Operations In Electric Power Systems written by Mohammad Shahidehpour and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-05-28 with Technology & Engineering categories.
An essential overview of post-deregulation market operations inelectrical power systems Until recently the U.S. electricity industry was dominated byvertically integrated utilities. It is now evolving into adistributive and competitive market driven by market forces andincreased competition. With electricity amounting to a $200 billionper year market in the United States, the implications of thisrestructuring will naturally affect the rest of the world. Why is restructuring necessary? What are the components ofrestructuring? How is the new structure different from the oldmonopoly? How are the participants strategizing their options tomaximize their revenues? What are the market risks and how are theyevaluated? How are interchange transactions analyzed and approved?Starting with a background sketch of the industry, this hands-onreference provides insights into the new trends in power systemsoperation and control, and highlights advanced issues in thefield. Written for both technical and nontechnical professionals involvedin power engineering, finance, and marketing, this must-haveresource discusses: * Market structure and operation of electric power systems * Load and price forecasting and arbitrage * Price-based unit commitment and security constrained unitcommitment * Market power analysis and game theory applications * Ancillary services auction market design * Transmission pricing and congestion Using real-world case studies, this timely survey offers engineers,consultants, researchers, financial managers, university professorsand students, and other professionals in the industry acomprehensive review of electricity restructuring and how itsradical effects will shape the market.
Competitive Electricity Markets The Power Of Choice
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Author : Joseph L. Welch, PE
language : en
Publisher: Lulu.com
Release Date : 2009
Competitive Electricity Markets The Power Of Choice written by Joseph L. Welch, PE and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
Critique of the US Electricity Industry. Analysis of derailed industry deregulation initiatives. Sketches a new, competitively structured Energy Policy Template.
Operation Regulation And Planning Of Power And Natural Gas Systems
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Author : Javier Reneses
language : en
Publisher: MDPI
Release Date : 2021-01-12
Operation Regulation And Planning Of Power And Natural Gas Systems written by Javier Reneses and has been published by MDPI this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-12 with Technology & Engineering categories.
Worldwide, electricity systems are evolving to adapt to a low-carbon economy in which increasingly more renewable energy resources are being integrated. These changes, in turn, make the development of new methods, tools, and approaches to deal with the operation and planning of electricity systems necessary. On the other hand, new regulations must be developed in order to deal with a wide integration of renewable and distributed energy resources, both from a generation and a network (transmission and distribution) perspective. Furthermore, the natural gas sector is going through significant transformation related mainly to both technological advances and strategic policy decisions. While there is great uncertainty in the future of natural gas within the global energy matrix, it is clear that it will play a major role during the next years as a bridge fuel towards a decarbonized economy. In this context, natural gas systems are undergoing deep transformations, necessitating the development of new tools to operate and plan gas systems as well as new approaches to regulate them. This book, therefore, seeks to contribute to the energy transformation agenda through original contributions focused on both power and natural gas systems, addressing innovative operation and planning methods as well as regulation of both energy systems.
Energy Allocation With Risk Management In Electricity Markets
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Author : Min Liu
language : en
Publisher: Scientific Research Publishing, Inc. USA
Release Date : 2025-06-24
Energy Allocation With Risk Management In Electricity Markets written by Min Liu and has been published by Scientific Research Publishing, Inc. USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-06-24 with Antiques & Collectibles categories.
In the past thirty years, we have witnessed the deregulation in the electrical power industry in many countries, such as UK, Norway, Chile, USA, New Zealand, Australia and Canada. The aim of deregulation is to enhance the efficiency of electric energy production and distribution, increase quality and security of power systems and reduce electricity prices. The deregulation process introduces the concept of an electricity market. In the electricity market, traditional power industry is reconstructed, and a series issues, such as market trading, power system security & control, electricity price etc., arise. Among these issues, electricity prices attract the most attention.