Flexibility Value of Czech Power-Generation
The power-generation industry offers numerous opportunities to apply real options. This paper uses current empirical market data to estimate the value of flexibility in the Czech energy sector, which can serve to compare available technologies, and support various investment decisions. The model also helps to explain particular investment trends.
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Volume (Year): 2008 (2008)
Issue (Month): 2 ()
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0507, Birkbeck, Department of Economics, Mathematics & Statistics.
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- Alvaro Cartea & Marcelo_Gustavo Figueroa, 2005. "Pricing in Electricity Markets: a Mean Reverting Jump Diffusion Model with Seasonality," Finance 0501011, EconWPA, revised 10 Sep 2005.
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- Schwartz, Eduardo S, 1997. " The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging," Journal of Finance, American Finance Association, vol. 52(3), pages 923-73, July.
- Laurikka, Harri, 2006. "Option value of gasification technology within an emissions trading scheme," Energy Policy, Elsevier, vol. 34(18), pages 3916-3928, December.
- Cox, John C. & Ross, Stephen A. & Rubinstein, Mark, 1979. "Option pricing: A simplified approach," Journal of Financial Economics, Elsevier, vol. 7(3), pages 229-263, September.
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