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Lecture Notes in Energy

Financial Transmission Rights

Analysis, Experiences and Prospects

Editors: Rosellón, Juan, Kristiansen, Tarjei (Eds.)

  • Forms a comprehensive source of information on financial transmission rights
  • Includes chapters written by experts in financial transmission rights
  • Discusses the introduction of financial transmission rights from the perspectives of various countries
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eBook $159.00
price for USA (gross)
valid through October 16, 2017
  • ISBN 978-1-4471-4787-9
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $209.00
price for USA
valid through October 16, 2017
  • ISBN 978-1-4471-4786-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $209.00
price for USA
  • ISBN 978-1-4471-6197-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

Whilst financial rights have appeared as a successful ingredient in North-American power markets, they have their shortcomings both theoretically and in practice. Financial Transmission Rights: Analysis, Experiences and Prospects present a systematic and comprehensive overview of financial transmission rights (FTRS).

Following a general introduction to FTRs, including chapters to explain transmission pricing and the general properties of FTRS, experts in the field provide discussions on wide scope of topics. These include:

Varying perspectives on FTRS: from electrical engineers to economists,

Different mathematical formulations of FTRS

Financial Hedging using FTRS, and

Alternative solutions to FTRs

The detail, expertise and range of content makes Financial Transmission Rights: Analysis, Experiences and Prospect  an essential resource for electricity market specialists both at academic and professional levels.

“This is THE BOOK we were all expecting to address all key ‘Financial Transmission Rights’ issues. It is comprehensive and reader friendly. You can pick at will in its menu: more or less theory, a bit of maths or none, empirical review of real cases or numerical simulations of many feasible options. Big names rally there to delight you like: Hogan , Oren, Perez-Arriaga, Smeers, Hobbs and… Rosellón. More than a must read: a light house, a map and a survival kit.”

 Jean – Michel Glachant, Director Florence School, Holder Loyola de Palacio Chair, Chief-editor Economics of Energy & Environmental Policy.

"In the last two decades, economists have developed a better understanding of the impact of financial rights on risk management, market power and network expansion in electricity markets, while power systems have experimented with such rights. Striking a good balance between academics and practitioners, always at the frontier of the field, written by the best experts, this volume is essential reading for all those- power systems’ managers and users, regulators, students and researchers- who want to understand the new electricity environment and predict its evolution."

Jean Tirole, Toulouse School of Economics and Institute for Industrial Economics (IDEI)

Further comments inside.

About the authors

Dr. Tarjei Kristiansen is Head of Power Market Analysis at SN Power Brazil. Prior to joining SN Power he was a Vice President with JP Morgan in London and responsible for German and Nordic power market analysis. Dr. Kristiansen has also worked for the trading company RBS Sempra Commodities, the utility Statkraft and KEMA Consulting in its markets and regulation team. Dr. Kristiansen holds an MSc in Physics from the University of Oslo and a PhD in Electrical Power Engineering from the Norwegian University of Science and Technology. He completed the Fellows Program at the Mossavar-Rahmani Center for Business and Government at the John F. Kennedy School of Government, Harvard University. His PhD focused on risk management associated with transmission congestion including financial transmission rights. He frequently publishes papers on European electricity markets, modeling and financial transmission rights in the US. When he is not analysing and modelling electricity markets, he spends time jogging or reading finance. He can be reached at Tarjei_Kristiansen_2003@alumni.ksg.harvard.edu.

Juan Rosellón is tenured Professor at the Department of Economics of the Centro de Investigación y Docencia Económicas (CIDE) in Mexico City, and Senior Researcher at the German Institute for Economic Research (DIW-Berlin). He has been Visiting Professor at the Technische Universität Berlin (2010-2011), the Technische Universität Dresden (2007-2010), and the Kennedy School of Government of Harvard University (2002-2005). Professor Rosellón has published extensively on incentive mechanisms to regulate restructured electricity and natural gas markets, including price-cap methodologies to promote infrastructure investment and addressing strategic behavior by participants with market power. He is member of the Editorial Board of Economics of Energy & Environmental Policy, and is the Editor of Economía Mexicana, Nueva Época. Professor Rosellón has been awarded with a Marie-Curie Fellowship from the European Union (2012), the 4th Reimut Jochimsen Prize by the Deutsche Bundesbank (2009), a Georg Forster Fellowship by the Humboldt Foundation (2008), and a Repsol-YPF-Harvard-Kennedy-School Fellowship (2003). He holds a Ph.D in Economics from Rice University (1993). Email address: juan.rosellon@cide.edu; jrosellon@diw.de

Table of contents (15 chapters)

  • Financial Transmission Rights: Point-to Point Formulations

    Hogan, William W.

    Pages 1-48

  • Transmission Pricing

    Pérez-Arriaga, Ignacio J. (et al.)

    Pages 49-76

  • Point to Point and Flow-Based Financial Transmission Rights: Revenue Adequacy and Performance Incentives

    Oren, Shmuel S.

    Pages 77-94

  • A Joint Energy and Transmission Rights Auction on a Network with Nonlinear Constraints: Design, Pricing and Revenue Adequacy

    O’Neill, Richard P. (et al.)

    Pages 95-127

  • Generator Ownership of Financial Transmission Rights and Market Power

    Joung, Manho (et al.)

    Pages 129-155

Buy this book

eBook $159.00
price for USA (gross)
valid through October 16, 2017
  • ISBN 978-1-4471-4787-9
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $209.00
price for USA
valid through October 16, 2017
  • ISBN 978-1-4471-4786-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $209.00
price for USA
  • ISBN 978-1-4471-6197-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Financial Transmission Rights
Book Subtitle
Analysis, Experiences and Prospects
Editors
  • Juan Rosellón
  • Tarjei Kristiansen
Series Title
Lecture Notes in Energy
Series Volume
7
Copyright
2013
Publisher
Springer-Verlag London
Copyright Holder
Springer-Verlag London
eBook ISBN
978-1-4471-4787-9
DOI
10.1007/978-1-4471-4787-9
Hardcover ISBN
978-1-4471-4786-2
Softcover ISBN
978-1-4471-6197-4
Series ISSN
2195-1284
Edition Number
1
Number of Pages
XXX, 418
Topics