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International Series in Operations Research & Management Science

Uncertainty in the Electric Power Industry

Methods and Models for Decision Support

Authors: Weber, Christoph

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  • ISBN 978-0-387-23048-1
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Hardcover $219.99
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Softcover $179.99
price for USA in USD
  • ISBN 978-1-4419-2000-3
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About this book

Around the world, liberalization and privatization in the electricity industry have lead to increased competition among utilities. At the same time, utilities are now exposed more than ever to risk and uncertainties, which they cannot pass on to their customers through price increases as in a regulated environment. Especially electricity-generating companies have to face volatile wholesale prices, fuel price uncertainty, limited long-term hedging possibilities and huge, to a large extent, sunk investments.

In this context, Uncertainty in the Electric Power Industry: Methods and Models for Decision Support aims at an integrative view on the decision problems that power companies have to tackle. It systematically examines the uncertainties power companies are facing and develops models to describe them – including an innovative approach combining fundamental and finance models for price modeling. The optimization of generation and trading portfolios under uncertainty is discussed with particular focus on CHP and is linked to risk management. Here the concept of integral earnings at risk is developed to provide a theoretically sound combination of value at risk and profit at risk approaches, adapted to real market structures and market liquidity. Also methods for supporting long-term investment decisions are presented: technology assessment based on experience curves and operation simulation for fuel cells and a real options approach with endogenous electricity prices.

Reviews

From the reviews of the first edition:

"This monograph applies a large amount of mathematics to modelling the uncertainity facing the electric power industry, mostly in Europe and especially in Germany. … With over 400 references, 300 equations, 100 figures, and 40 tables, the overall treatment is nothing less than encyclopedic." (Roy Gardner, Zentralblatt MATH, Vol. 1074, 2005)


Table of contents (10 chapters)

Table of contents (10 chapters)
  • Introduction

    Pages 1-2

  • Deregulation and Markets in the Electricity Industry

    Pages 3-10

  • Decision Making and Uncertainties in the Electricity Industry

    Pages 11-29

  • Modelling Electricity Prices

    Pages 31-78

  • Modeling Competition in the Electricity Industry

    Pages 79-96

Buy this book

eBook $139.00
price for USA in USD
  • ISBN 978-0-387-23048-1
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $219.99
price for USA in USD
  • ISBN 978-0-387-23047-4
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
Softcover $179.99
price for USA in USD
  • ISBN 978-1-4419-2000-3
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
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Bibliographic Information

Bibliographic Information
Book Title
Uncertainty in the Electric Power Industry
Book Subtitle
Methods and Models for Decision Support
Authors
Series Title
International Series in Operations Research & Management Science
Series Volume
77
Copyright
2005
Publisher
Springer-Verlag New York
Copyright Holder
Springer-Verlag New York
eBook ISBN
978-0-387-23048-1
DOI
10.1007/b100484
Hardcover ISBN
978-0-387-23047-4
Softcover ISBN
978-1-4419-2000-3
Series ISSN
0884-8289
Edition Number
1
Number of Pages
XXV, 294
Topics