From market uncertainty to policy uncertainty for investment in power generation: real options for NPP on electricity market
نویسندگان
چکیده
In the electricity sector, market participants must make decisions about capacity choice in a situation of radical uncertainty future conditions. Sector is characterized by non-storability and periodic stochastic demand fluctuations. Capacity determination decision for long term, whereas production adjusted short run. Paper looks on main contributions investment planning under uncertainty, particular capital intensive investments like NPP. The relationship between nonmarket factors (recent UK policy example) determining signals competitive markets was analysed. analyse ability to deliver desired quantity type generation also investigates variety imperfections operating their impact long-term dynamics capacity. analyses how price formation influences signals. Number (including power, wholesale volatility, lack liquidity financial market, regulatory risks etc.) contribute polluting signal generating sub-optimal behaviour.
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ژورنال
عنوان ژورنال: Energija
سال: 2022
ISSN: ['0354-8651', '2812-7528']
DOI: https://doi.org/10.37798/2015641-4151