Efficient power generating portfolio in Brazil: Conciliating cost, emissions and risk
Author
Abstract
Suggested Citation
DOI: 10.1016/j.enpol.2013.07.049
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- Edmar Luiz Fagundes De Almeida & Luciano Losekann & Gustavo Marreiro & Francisco Javier Ramos-Real, 2014. "Efficient Power Generating Portfolio Inbrazil: Conciliating Cost, Emissions And Risk," Anais do XL Encontro Nacional de Economia [Proceedings of the 40th Brazilian Economics Meeting] 134, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
References listed on IDEAS
- Awerbuch, Shimon, 2000. "Investing in photovoltaics: risk, accounting and the value of new technology," Energy Policy, Elsevier, vol. 28(14), pages 1023-1035, November.
- Ramos-Real, Francisco Javier & Tovar, Beatriz & Iootty, Mariana & de Almeida, Edmar Fagundes & Pinto Jr., Helder Queiroz, 2009.
"The evolution and main determinants of productivity in Brazilian electricity distribution 1998-2005: An empirical analysis,"
Energy Economics, Elsevier, vol. 31(2), pages 298-305, March.
- Francisco J. Ramos-Real & Beatriz Tovar & Mariana Iootty & Edmar Fagundes de Almeida & Helder Jr. Queiroz Pinto, 2008. "The evolution and main determinants of productivity in Brazilian electricity distribution 1998-2005: an empirical analysis," Working Papers 2008-41, FEDEA.
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, March.
- Marrero, Gustavo A. & Ramos-Real, Francisco Javier, 2010.
"Electricity generation cost in isolated system: The complementarities of natural gas and renewables in the Canary Islands,"
Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(9), pages 2808-2818, December.
- Gustavo A. Marrero & Francisco Javier Ramos-Real, 2010. "Electricity generation cost in isolated system: the complementarities of natural gas and renewables in the Canary Islands," Working Papers 2010-17, FEDEA.
- Awerbuch, Shimon & Yang, Spencer, 2007. "Efficient electricity generating portfolios for Europe: maximising energy security and climate change mitigation," EIB Papers 7/2007, European Investment Bank, Economics Department.
- Feretic, Danilo & Tomsic, Zeljko, 2005. "Probabilistic analysis of electrical energy costs comparing: production costs for gas, coal and nuclear power plants," Energy Policy, Elsevier, vol. 33(1), pages 5-13, January.
- Shimon Awerbuch, 2006. "Portfolio-Based Electricity Generation Planning: Policy Implications For Renewables And Energy Security," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 11(3), pages 693-710, May.
- Wiser, Ryan & Bachrach, Devra & Bolinger, Mark & Golove, William, 2004. "Comparing the risk profiles of renewable and natural gas-fired electricity contracts," Renewable and Sustainable Energy Reviews, Elsevier, vol. 8(4), pages 335-363, August.
- de Oliveira, Francisco Alexandre & de Paiva, Anderson Paulo & Lima, José Wanderley Marangon & Balestrassi, Pedro Paulo & Mendes, Ronã Rinston Amaury, 2011. "Portfolio optimization using Mixture Design of Experiments: Scheduling trades within electricity markets," Energy Economics, Elsevier, vol. 33(1), pages 24-32, January.
- Roques, Fabien A. & Newbery, David M. & Nuttall, William J., 2008.
"Fuel mix diversification incentives in liberalized electricity markets: A Mean-Variance Portfolio theory approach,"
Energy Economics, Elsevier, vol. 30(4), pages 1831-1849, July.
- Fabien A. Roques & David M. Newbery & William J. Nuttall, 2006. "Fuel mix diversification incentives in liberalised electricity markets: a Mean-Variance Portfolio Theory Approach," Working Papers EPRG 0626, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
- Joanne Evans & Lester C. Hunt (ed.), 2009. "International Handbook on the Economics of Energy," Books, Edward Elgar Publishing, number 12764.
- Delarue, Erik & De Jonghe, Cedric & Belmans, Ronnie & D'haeseleer, William, 2011. "Applying portfolio theory to the electricity sector: Energy versus power," Energy Economics, Elsevier, vol. 33(1), pages 12-23, January.
- Merton, Robert C., 1972. "An Analytic Derivation of the Efficient Portfolio Frontier," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 7(4), pages 1851-1872, September.
- Tovar, Beatriz & Javier Ramos-Real, Francisco & de Almeida, Edmar Fagundes, 2011. "Firm size and productivity. Evidence from the electricity distribution industry in Brazil," Energy Policy, Elsevier, vol. 39(2), pages 826-833, February.
- Luciano Losekann, 2008. "The second reform of the Brazilian electric sector," International Journal of Global Energy Issues, Inderscience Enterprises Ltd, vol. 29(1/2), pages 75-87.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Pérez Odeh, Rodrigo & Watts, David & Negrete-Pincetic, Matías, 2018. "Portfolio applications in electricity markets review: Private investor and manager perspective trends," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P1), pages 192-204.
- Zhang, Mingming & Song, Wenwen & Liu, Liyun & Zhou, Dequn, 2024. "Optimal investment portfolio strategy for carbon neutrality of power enterprises," Renewable and Sustainable Energy Reviews, Elsevier, vol. 189(PA).
- Sánchez, A.S. & Torres, E.A. & Kalid, R.A., 2015. "Renewable energy generation for the rural electrification of isolated communities in the Amazon Region," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 278-290.
- Costa, Oswaldo L.V. & de Oliveira Ribeiro, Celma & Rego, Erik Eduardo & Stern, Julio Michael & Parente, Virginia & Kileber, Solange, 2017. "Robust portfolio optimization for electricity planning: An application based on the Brazilian electricity mix," Energy Economics, Elsevier, vol. 64(C), pages 158-169.
- Feil, Alex Sandro & Antunes, Carlos Henggeler & da Silva, Patrícia Pereira & de Castro, Nivalde, 2024. "The critical drivers of the Brazilian electricity sector's transition through 2050: A Delphi study," Utilities Policy, Elsevier, vol. 87(C).
- Zhang, Shuang & Zhao, Tao & Xie, Bai-Chen, 2018. "What is the optimal power generation mix of China? An empirical analysis using portfolio theory," Applied Energy, Elsevier, vol. 229(C), pages 522-536.
- Riesz, Jenny & Vithayasrichareon, Peerapat & MacGill, Iain, 2015. "Assessing “gas transition” pathways to low carbon electricity – An Australian case study," Applied Energy, Elsevier, vol. 154(C), pages 794-804.
- David Juárez-Luna, 2021.
"Power generation portfolios: A parametric formulation of the efficient frontier,"
Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 16(1), pages 1-29, Enero - M.
- Juárez-Luna, David, 2019. "Power generation portfolios: A parametric formulation of the efficient frontier," MPRA Paper 94814, University Library of Munich, Germany.
- Vithayasrichareon, Peerapat & Riesz, Jenny & MacGill, Iain F., 2015. "Using renewables to hedge against future electricity industry uncertainties—An Australian case study," Energy Policy, Elsevier, vol. 76(C), pages 43-56.
- David Juárez-Luna, 2021. "Power generation portfolios: A parametric formulation of the efficient frontier," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 16(1), pages 1-29, Enero - M.
- Anuta, Oghenetejiri Harold & Taylor, Phil & Jones, Darren & McEntee, Tony & Wade, Neal, 2014. "An international review of the implications of regulatory and electricity market structures on the emergence of grid scale electricity storage," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 489-508.
- Pinheiro Neto, Daywes & Domingues, Elder Geraldo & Coimbra, António Paulo & de Almeida, Aníbal Traça & Alves, Aylton José & Calixto, Wesley Pacheco, 2017. "Portfolio optimization of renewable energy assets: Hydro, wind, and photovoltaic energy in the regulated market in Brazil," Energy Economics, Elsevier, vol. 64(C), pages 238-250.
- Hellinton H. Takada & Celma O. Ribeiro & Oswaldo L. V. Costa & Julio M. Stern, 2020. "Gini and Entropy-Based Spread Indexes for Primary Energy Consumption Efficiency and CO 2 Emission," Energies, MDPI, vol. 13(18), pages 1-17, September.
- Pérez Odeh, Rodrigo & Watts, David & Flores, Yarela, 2018. "Planning in a changing environment: Applications of portfolio optimisation to deal with risk in the electricity sector," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 3808-3823.
- Romeiro, Diogo Lisbona & Almeida, Edmar Luiz Fagundes de & Losekann, Luciano, 2020. "Systemic value of electricity sources – What we can learn from the Brazilian experience?," Energy Policy, Elsevier, vol. 138(C).
- Forouli, Aikaterini & Gkonis, Nikolaos & Nikas, Alexandros & Siskos, Eleftherios & Doukas, Haris & Tourkolias, Christos, 2019. "Energy efficiency promotion in Greece in light of risk: Evaluating policies as portfolio assets," Energy, Elsevier, vol. 170(C), pages 818-831.
- de Moraes Dutenkefer, Raphael & de Oliveira Ribeiro, Celma & Morgado Mutran, Victoria & Eduardo Rego, Erik, 2018. "The insertion of biogas in the sugarcane mill product portfolio: A study using the robust optimization approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 91(C), pages 729-740.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Marrero, Gustavo A. & Ramos-Real, Francisco Javier, 2010.
"Electricity generation cost in isolated system: The complementarities of natural gas and renewables in the Canary Islands,"
Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(9), pages 2808-2818, December.
- Gustavo A. Marrero & Francisco Javier Ramos-Real, 2010. "Electricity generation cost in isolated system: the complementarities of natural gas and renewables in the Canary Islands," Working Papers 2010-17, FEDEA.
- Guerrero-Lemus, Ricardo & Marrero, Gustavo A. & Puch, Luis A., 2012.
"Costs for conventional and renewable fuels and electricity in the worldwide transport sector: A mean–variance portfolio approach,"
Energy, Elsevier, vol. 44(1), pages 178-188.
- Ricardo Guerrero-Lemus & Gustavo A. Marrero & Luis A. Puch, 2012. "Costs for conventional and renewable fuels and electricity in the worldwide transport sector: a mean-variance portfolio approach," Documentos de Trabajo del ICAE 2012-18, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
- Dornan, Matthew & Jotzo, Frank, 2015. "Renewable technologies and risk mitigation in small island developing states: Fiji’s electricity sector," Renewable and Sustainable Energy Reviews, Elsevier, vol. 48(C), pages 35-48.
- Zhang, Shuang & Zhao, Tao & Xie, Bai-Chen, 2018. "What is the optimal power generation mix of China? An empirical analysis using portfolio theory," Applied Energy, Elsevier, vol. 229(C), pages 522-536.
- Locatelli, Giorgio & Mancini, Mauro, 2011. "Large and small baseload power plants: Drivers to define the optimal portfolios," Energy Policy, Elsevier, vol. 39(12), pages 7762-7775.
- Pérez Odeh, Rodrigo & Watts, David & Flores, Yarela, 2018. "Planning in a changing environment: Applications of portfolio optimisation to deal with risk in the electricity sector," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 3808-3823.
- Tietjen, Oliver & Pahle, Michael & Fuss, Sabine, 2016. "Investment risks in power generation: A comparison of fossil fuel and renewable energy dominated markets," Energy Economics, Elsevier, vol. 58(C), pages 174-185.
- Vithayasrichareon, Peerapat & MacGill, Iain F., 2012. "A Monte Carlo based decision-support tool for assessing generation portfolios in future carbon constrained electricity industries," Energy Policy, Elsevier, vol. 41(C), pages 374-392.
- Vithayasrichareon, Peerapat & MacGill, Iain F., 2013. "Assessing the value of wind generation in future carbon constrained electricity industries," Energy Policy, Elsevier, vol. 53(C), pages 400-412.
- deLlano-Paz, Fernando & Calvo-Silvosa, Anxo & Iglesias Antelo, Susana & Soares, Isabel, 2015. "The European low-carbon mix for 2030: The role of renewable energy sources in an environmentally and socially efficient approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 48(C), pages 49-61.
- Costa, Oswaldo L.V. & de Oliveira Ribeiro, Celma & Rego, Erik Eduardo & Stern, Julio Michael & Parente, Virginia & Kileber, Solange, 2017. "Robust portfolio optimization for electricity planning: An application based on the Brazilian electricity mix," Energy Economics, Elsevier, vol. 64(C), pages 158-169.
- Gustavo A. Marrero & Yannick Perez & Marc Petit & Francisco Javier Ramos-Real, 2015.
"Electric vehicle fleet contributions for isolated systems. The case of the Canary Islands,"
International Journal of Automotive Technology and Management, Inderscience Enterprises Ltd, vol. 15(2), pages 171-193.
- Gustavo A Marrero & Yannick Perez & Marc Petit & Francisco Javier Ramos-Real, 2015. "Electric vehicle fleet contributions for isolated systems. The case of the Canary Islands," Post-Print hal-01424629, HAL.
- deLlano-Paz, Fernando & Martínez Fernandez, Paulino & Soares, Isabel, 2016. "Addressing 2030 EU policy framework for energy and climate: Cost, risk and energy security issues," Energy, Elsevier, vol. 115(P2), pages 1347-1360.
- Paulino Martinez-Fernandez & Fernando deLlano-Paz & Anxo Calvo-Silvosa & Isabel Soares, 2018. "Pollutant versus non-pollutant generation technologies: a CML-analogous analysis," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 20(1), pages 199-212, December.
- Marrero, Gustavo A. & Puch, Luis A. & Ramos-Real, Francisco J., 2015.
"Mean-variance portfolio methods for energy policy risk management,"
International Review of Economics & Finance, Elsevier, vol. 40(C), pages 246-264.
- Gustavo A. Marrero & Luis A. Puch & Francisco J. Ramos-Real, 2013. "Mean-variance portfolio methods for energy policy risk management," Documentos de Trabajo del ICAE 2013-41, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
- Inzunza, Andrés & Moreno, Rodrigo & Bernales, Alejandro & Rudnick, Hugh, 2016. "CVaR constrained planning of renewable generation with consideration of system inertial response, reserve services and demand participation," Energy Economics, Elsevier, vol. 59(C), pages 104-117.
- Lynch, Muireann Á. & Shortt, Aonghus & Tol, Richard S.J. & O'Malley, Mark J., 2013.
"Risk–return incentives in liberalised electricity markets,"
Energy Economics, Elsevier, vol. 40(C), pages 598-608.
- Richard S.J. Tol & Muireann Lynch & Aonghus Shortt & Mark O’Malley, 2012. "Risk-Return Incentives in Liberalised Electricity Markets," Working Paper Series 4012, Department of Economics, University of Sussex Business School.
- de Oliveira, Francisco Alexandre & de Paiva, Anderson Paulo & Lima, José Wanderley Marangon & Balestrassi, Pedro Paulo & Mendes, Ronã Rinston Amaury, 2011. "Portfolio optimization using Mixture Design of Experiments: Scheduling trades within electricity markets," Energy Economics, Elsevier, vol. 33(1), pages 24-32, January.
- Zhang, Mingming & Tang, Yamei & Liu, Liyun & Zhou, Dequn, 2022. "Optimal investment portfolio strategies for power enterprises under multi-policy scenarios of renewable energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 154(C).
- Jano-Ito, Marco A. & Crawford-Brown, Douglas, 2017. "Investment decisions considering economic, environmental and social factors: An actors' perspective for the electricity sector of Mexico," Energy, Elsevier, vol. 121(C), pages 92-106.
More about this item
Keywords
Mean–variance portfolio theory; Brazil; Electricity generation mix;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:62:y:2013:i:c:p:301-314. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/enpol .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.