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Modeling long-term electricity forward prices
Povh, Martin; Fleten, Stein-Erik - 2009
In contrast to forwards and futures on storable commodities, prices of long-term electricity forwards exhibit a dynamics different to that of short-term and mid-term prices. We model long-term electricity forward prices through demand and supply for electricity, adjusted with a risk premium....
Persistent link: https://www.econbiz.de/10015215493
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Evaluation of hydropower upgrade projects - a real options approach
Elverhøi, Morten; Fleten, Stein-Erik; Fuss, Sabine; … - 2010
aspects to take into consideration. These are the capacity chosen for the production facilities and the timing of the … investment. This paper presents an investment decision support framework for hydropower producers with production facilities due … for restoration. The producer can choose between refurbishing existing power plants and investing in a new production …
Persistent link: https://www.econbiz.de/10015221836
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Investment timing and optimal capacity choice for small hydropower projects
Bøckman, Thor; Fleten, Stein-Erik; Juliussen, Erik; … - 2006
production in a plant, based on all the important choices for such a plant. The main results of the spreadsheet are simulated … production size and the investment costs, which are in turn used for finding the value of the real option and the price limit …
Persistent link: https://www.econbiz.de/10015224389
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Financial Management of Weather Risk with Energy Derivatives
Janda, Karel; Vylezik, Tomas - 2011
In this paper we describe the major issues in the weather risk management. We focus on the management of financial risks connected with weather. We first provide a general discussion of the impact of weather on the economy. Then we follow with the overview of the development of the weather risk...
Persistent link: https://www.econbiz.de/10015229540
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Linepack storage valuation under price uncertainty
Arvesen, Øystein; Medbø, Vegard; Fleten, Stein-Erik; … - 2012
Natural gas flows in pipelines as a consequence of the pressure difference at the inlet and outlet. Adjusting these pressures makes it possible to inject natural gas at one rate and withdraw at a different rate, hence using the pipeline as storage as well as transport. We study the value of...
Persistent link: https://www.econbiz.de/10015235042
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The Negative Pricing of the May 2020 WTI Contract
Adrian, Fernandez-Perez; Ana-Maria, Fuertes; Joelle, Miffre - 2022
This paper sheds light on the negative pricing of the May 2020 WTI futures contract (CLK20) on April 20, 2020. The super contango of early 2020, triggered by COVID-19 lockdowns and geopolitical tensions, incentivized cash and carry (C&C) traders to be long CLK20 and short distant contracts,...
Persistent link: https://www.econbiz.de/10015267520
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Selective Hedging in Hydro-Based Electricity Companies
Olsen, Eirik Tandberg; Sanda, Gaute Egeland; Fleten, … - 2010
electricity production using the power derivatives available at NASDAQ OMX Commodities. In their hedging policy, these companies …We analyze risk management trends in electricity commodity markets using the production and transaction data and … written hedging policies of 12 Norwegian hydropower companies. The scope of our analysis is the hedging of physical …
Persistent link: https://www.econbiz.de/10015237535
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Specifying An Efficient Renewable Energy Feed-in Tariff
Farrell, Niall; Devine, Mel; Lee, William; Gleeson, James; … - 2013
This paper derives efficient pricing formulae for renewable energy Feed-in Tariff (FiT) designs that incorporate exposure to uncertain market prices by using option pricing theory. Such FiT designs are presented as a means to delineate market price risk amongst investors and policymakers when...
Persistent link: https://www.econbiz.de/10015238714
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Trade and FDI in Services: Firm Level Evidence for Germany
Markus Kelle - 2011
Services Trade has become important in modern economies today, but is hardly investigated in the international economics literature. We provide an empirical firm level analysis of German firms trading producer services. Similarly to trade in Goods, we find that trading firms are quite...
Persistent link: https://www.econbiz.de/10009429031
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Export Performance and Growth in China: A Cross-Provincial Analysis
Park, Jong H.; Prime, Penelope B. - 1997
and 1993 in an export-augmented aggregate production function approach. The results of our study support the hypothesis …
Persistent link: https://www.econbiz.de/10009459104