Multi-dimensional Risk and Investment Return in the Energy Sector PDF Download

Author: Peter Rabensteiner
Publisher: Haupt Verlag AG
ISBN: 325807805X
Category : Electric utilities
Languages : en
Pages : 194

View

Book Description
Die vorliegende Dissertation untersucht die kapitalbezogenen Aspekte von Investitionen im regulierten Energiesektor, wobei der Fokus auf dem elektrischen Übertragungsnetz liegt. Eine grundlegende Prämisse ist hierbei die "Endogenität des Risikos," wonach das Risikoprofil einer regulierten Investition von den Spezifikationen des regulatorischen Marktdesigns abhängt, durch welches stochastische Kosten und Einnahmen unter den beteiligten Stakeholdern - den Investoren, Konsumenten und Steuerzahlern - aufgeteilt werden. Das übergreifende Konzept ist ein multidimensionales regulatorisches Risiko-Framework, welches eine systematische Beurteilung des Einflusses von stochastischen Risiken auf den Marktwert und Cashflow von regulierten Unternehmen ermöglicht. Gemäss den Dimensionen des Risiko-Frameworks werden die einzelnen Risiken nach ihren systematischen und symmetrischen Eigenschaften sowie nach deren finanziellen Auswirkungen auf das regulierte Unternehmen charakterisiert. Auf Grundlage der konzeptionellen Aufarbeitung und einer umfassenden bibliografischen Übersicht über die vorhandene wissenschaftliche Literatur werden neue Forschungsansätze entwickelt, welche sich mit den identifizierten analytischen und empirischen Forschungslücken befassen: Erstens erlaubt eine kapitalmarktbasierte Kennzahl für das implizierte systematische Risiko, welches auf Basis fundamentaler Bewertungsmodelle und Marktpreise errechnet werden kann, eine robuste Schätzung der Kapitalkosten von börsennotierten Übertragungsfirmen. Eine auf diesem Ansatz beruhende Anpassung der erlaubten Rendite könnte ein wertvolles selbstkorrigierendes Instrumentarium für Regulatoren darstellen. Zweitens ergibt die Analyse einer hypothetischen grenzüberschreitenden Übertragungsleitung zwischen Polen und Österreich, welche aufgrund stündlicher Spotpreise an den jeweiligen Strombörsen durchgeführt wurde, eine Schätzung des systematischen Risikos nahe Nul.

Author: Dirk Van Hertem
Publisher: John Wiley & Sons
ISBN: 1119115221
Category : Technology & Engineering
Languages : en
Pages : 530

View

Book Description
This book discusses HVDC grids based on multi-terminal voltage-source converters (VSC), which is suitable for the connection of offshore wind farms and a possible solution for a continent wide overlay grid. HVDC Grids: For Offshore and Supergrid of the Future begins by introducing and analyzing the motivations and energy policy drives for developing offshore grids and the European Supergrid. HVDC transmission technology and offshore equipment are described in the second part of the book. The third part of the book discusses how HVDC grids can be developed and integrated in the existing power system. The fourth part of the book focuses on HVDC grid integration, in studies, for different time domains of electric power systems. The book concludes by discussing developments of advanced control methods and control devices for enabling DC grids. Presents the technology of the future offshore and HVDC grid Explains how offshore and HVDC grids can be integrated in the existing power system Provides the required models to analyse the different time domains of power system studies: from steady-state to electromagnetic transients This book is intended for power system engineers and academics with an interest in HVDC or power systems, and policy makers. The book also provides a solid background for researchers working with VSC-HVDC technologies, power electronic devices, offshore wind farm integration, and DC grid protection.

Author: Hasan Dinçer
Publisher: Emerald Group Publishing
ISBN: 180117900X
Category : Business & Economics
Languages : en
Pages : 136

View

Book Description
Multidimensional Strategic Outlook on Global Competitive Energy Economics and Finance analyses current trends in energy production and use, with a focus on technological developments that contribute to the reduction of price in energy production and renewable energy sources that provide continuity in energy production.

Author: Charles W Donovan
Publisher: World Scientific
ISBN: 178326778X
Category : Business & Economics
Languages : en
Pages : 366

View

Book Description
The future of clean energy is no longer about science and technology; it's all about access to finance. The fossil fuel industry has been subsidized for decades with tax breaks and government backing, while renewables have struggled to compete. But now clean energy is the safe bet for investors, as is argued in Renewable Energy Finance: Powering the Future, edited by Dr Charles Donovan, Principal Teaching Fellow at Imperial College Business School.With a foreword by Lord Brown and contributions from some of the world's leading experts in energy finance, this timely book documents how investors are spending over US$250 billion each year on new renewable energy projects and positioning themselves in a global investment market that will continue to expand at double-digit growth rates until 2020. It documents first-hand experiences of the challenges of balancing risk and return amid volatile market conditions and rapid shifts in government policy.Renewable Energy Finance provides an insider's perspective on renewable energy transactions, and insight into how countries like the US, India and China are responding to the global energy challenge. Drawing together contributions from senior executives and leading academics, Renewable Energy Finance serves an audience of readers craving intelligent, practical perspectives on the future of clean energy investment.

Author: Janelle Knox-Hayes
Publisher: Taylor & Francis
ISBN: 1351119044
Category : Business & Economics
Languages : en
Pages : 648

View

Book Description
This handbook is a comprehensive and up to date work of reference that offers a survey of the state of financial geography. With Brexit, a global recession triggered by the COVID-19 pandemic, as well as new financial technology threatening and promising to revolutionize finance, the map of the financial world is in a state of transformation, with major implications for development. With these developments in the background, this handbook builds on this unprecedented momentum and responds to these epochal challenges, offering a comprehensive guide to financial geography. Financial geography is concerned with the study of money and finance in space and time, and their impacts on economy, society and nature. The book consists of 29 chapters organized in six sections: theoretical perspectives on financial geography, financial assets and markets, investors, intermediation, regulation and governance, and finance, development and the environment. Each chapter provides a balanced overview of current knowledge, identifying issues and discussing relevant debates. Written in an analytical and engaging style by authors based on six continents from a wide range of disciplines, the work also offers reflections on where the research agenda is likely to advance in the future. The book’s key audience will primarily be students and researchers in geography, urban studies, global studies and planning, more or less familiar with financial geography, who seek access to a state-of-the art survey of this area. It will also be useful for students and researchers in other disciplines, such as finance and economics, history, sociology, anthropology, politics, business studies, environmental studies and other social sciences, who seek convenient access to financial geography as a new and relatively unfamiliar area. Finally, it will be a valuable resource for practitioners in the public and private sector, including business consultants and policy-makers, who look for alternative approaches to understanding money and finance.

Author: Hisham M. Akhonbay
Publisher: Routledge
ISBN: 0429786603
Category : Business & Economics
Languages : en
Pages : 246

View

Book Description
The Cooperation Council for the Arab States of the Gulf (GCC) has been at the epicenter of global energy markets because of its substantial endowment of hydrocarbons. Yet countries in the region have also stated their intent to be global leaders in renewable energy. This collection explores the drivers for the widespread adoption of renewable energy around the GCC, the need for renewable energy and the policy-economic factors that can create success. All six countries within the GCC have plans to include renewable energy power generation in their energy mix for various reasons including: a growing demand for electricity because of increasing populations, an increasing government fiscal deficit due to inefficient subsidies, the need to diversify the economy and global pressure to meet climate change requirements. However, the decision of when and by how much to introduce renewable energy is fraught with complications. In this book, a stellar cast of regional policy and academic experts explore the reasons behind these renewable energy plans and the potential impediments to success, whether it be the declining cost of producing energy from hydrocarbons, an infrastructure which needs to be updated, social acceptance, lack of financing and even harsh weather. Weighing up all these factors, the book considers the route forward for renewable energy in the Gulf region. The Economics of Renewable Energy in the Gulf offers an excellent examination of the adoption of renewable energy in the area. It will be of great interest to academic researchers and policy makers alike, particularly those working in the areas of energy economics, public policy and international relations.

Author: Pavel Tsvetkov
Publisher: BoD – Books on Demand
ISBN: 9533071109
Category : Technology & Engineering
Languages : en
Pages : 400

View

Book Description
The world of the twenty first century is an energy consuming society. Due to increasing population and living standards, each year the world requires more energy and new efficient systems for delivering it. Furthermore, the new systems must be inherently safe and environmentally benign. These realities of today's world are among the reasons that lead to serious interest in deploying nuclear power as a sustainable energy source. Today's nuclear reactors are safe and highly efficient energy systems that offer electricity and a multitude of co-generation energy products ranging from potable water to heat for industrial applications. The goal of the book is to show the current state-of-the-art in the covered technical areas as well as to demonstrate how general engineering principles and methods can be applied to nuclear power systems.

Author: Joseph Nyangon
Publisher: BoD – Books on Demand
ISBN: 1838801979
Category : Technology & Engineering
Languages : en
Pages : 262

View

Book Description
This book examines the technical, market, and policy innovations for unlocking sustainable investment in the energy sector. While finalizing this book, the COVID-19 pandemic is cutting a devastating swath through the global economy, causing the biggest fall in energy sector investment, exacerbating the global trade finance gap, worsening signs of growing income inequality, and devastating the health and livelihoods of millions. What is the parallel between the COVID-19 pandemic and the climate change crisis? The impacts of the global pandemic are expected to last for a few years, whereas those associated with the climate crisis will play out over several decades with potentially irreversible consequences. However, both show that the cost of inaction or delay in addressing the risks can lead to devastating outcomes or a greater probability of irreversible, catastrophic damages. In the context of sustainable energy investment and the transition to a low-carbon, climate-resilient economy, what ways can financial markets and institutions support net-zero-emission activities and the shift to a sustainable economy, including investment in energy efficiency, low-carbon and renewable energy technologies? This book provides students, policymakers, and energy investment professionals with the knowledge and theoretical tools necessary to address related questions in sustainable energy investment, risk management, and energy innovation agendas.

Author: Rodolfo Dufo-López
Publisher: CRC Press
ISBN: 1000627411
Category : Science
Languages : en
Pages : 1287

View

Book Description
Power and Energy Engineering are important and pressing topics globally, covering issues such as shifting paradigms of energy generation and consumption, intelligent grids, green energy and environmental protection. The 11th Asia-Pacific Power and Energy Engineering Conference (APPEEC 2019) was held in Xiamen, China from April 19 to 21, 2019. APPEEC has been an annual conference since 2009 and has been successfully held in Wuhan (2009 & 2011), Chengdu (2010 & 2017), Shanghai (2012 & 2014), Beijing (2013 & 2015), Suzhou (2016) and Guilin (2018), China. The objective of APPEEC 2019 was to provide scientific and professional interactions for the advancement of the fields of power and energy engineering. APPEEC 2019 facilitated the exchange of insights and innovations between industry and academia. A group of excellent speakers have delivered keynote speeches on emerging technologies in the field of power and energy engineering. Attendees were given the opportunity to give oral and poster presentations and to interface with invited experts.

Author: Alexis Heraclides
Publisher: Routledge
ISBN: 1351401025
Category : Political Science
Languages : en
Pages : 291

View

Book Description
This book offers a sober, contemplative and comprehensive coverage of Greek–Turkish relations, covering in depth the current political climate, with due regard to the historical dimension. The book includes up-to-date accounts of the traditional areas of unresolved discord (Aegean, minorities, Cyprus, the Patriarchate), with emphasis on why they remain contentious, despite the thaw in Greek–Turkish relations from 1999 until recently. It also covers new topics and challenges that have led to cooperation as well as friction, such as unprecedented economic cooperation, energy resources, or the refugee crisis. Furthermore, the volume deals with the ‘Europeanization’ of Greek–Turkish relations and other facilitating factors as they appeared in the first decade of the 21st century (including the role of civil society) as well as the contrary, ‘de-Europeanization’ from the 2010 onwards, which presages a hazardous downward trend in their relations, often not helped by the media in both countries, which is also examined. This volume will be essential reading to scholars and students of Greek–Turkish relations, more generally Greece and Turkey, and more broadly to the study of South European Politics, European Union politics, security studies and International Relations.