Étiqueté : power generation

Why Wind Is Not Coal: On the Economics of Electricity

The economics of electricity is shaped by its physics. A well know example is the non-storability of electricity that causes its price to fluctuate widely. More generally, physical constraints cause electricity to be a heterogeneous good along three dimensions – time, space, and lead-time. Consequently, different generation technologies, such as coal and wind power, produce different economic goods that have a different marginal economic value…

Risk-return incentives in liberalised electricity markets

We employ Monte Carlo analysis to determine the distribution of returns for various electricity generation technologies. Costs and revenues for each technology are arrived by means of a sophisticated unit commitment and economic dispatch algorithm. The results show that small amounts of coal investment along with high investment in advanced CCGT can reduce the risk of baseload-only portfolios, while flexible generation technologies appear on the efficient frontier when all technology types are considered. Diversification incentives regarding operational considerations dominate over incentives to diversify between fuel types.

Policy options for low-carbon power generation in China

This paper presents the contextual elements of China’s power generation (trends, regulations and challenges); a primer on emissions trading in electricity; how a price on CO2 emissions could affect electricity in the near term, and illustrates the implications for generation cost and prices. It then identifies the key parameters of an ETS fit for implementation in China’s electricity sector, and concludes on the interplay of the ETS and electricity regulation in China.

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