Risk and Flexibility in Electricity

Introduction to the Fundamentals and Techniques

Illustrates the many options and tools available to assist you with the decision-making process at each stage of the supply chain whilst alerting you to the various new risks formed by increased market uncertainty
Provides you with all the necessary tools to easily apply the featured methodologies in your own work
The title's emphasis on the application of theory to practical situations makes it highly relevant to both practitioners, who apply the theory to practice, and academics who study the effectiveness of the applications
Features comprehensive and accessible coverage of: fuel trading, renewables and intermittent energy sources, forecasting and other analytical tools, transmission, retail power contracts, exotic options and flexibility, and regulation and deregulation risks

Uncertainty, Risk and Flexibility: Introduction and Overview
- Anne Ku
Physical processes redefined by risk and flexibility
- Decision makers redefined
- Contracts
- Impact of deregulation
1. Fuel: Trading and Procurement
- Pushkar Wagle
- Cross-commodity trading
  - Oil
  - Natural gas
  - Coal
  - Nuclear
2. Renewables and intermittent Generation
- Andrew Miller
- Hydro
  - Renewables
3. Analysing Risk and Return in the Physical Energy Portfolio: A Non-Technical Overview
- Jim Christian
- Overview
  - Asset valuation (real options)
  - Asset optimisation
  - Portfolio optimisation
4. What's Driving the Demand for Forecasting?
- Fereidoon P. Sioshansi
- Prices: forecasting vs forward curves
  - Supply forecasting
  - Demand forecasting
  - Simulation, scenario analysis
5. Transmission, Transmission Services and Non-Energy Markets
- Andrew Miller
- Transmission pricing
  - Basis hedge
  - Delivery risk
6. Fundamentals of Retail Transactions
- Lance Hinrichs
- Deal structuring
  - Risks
  - Decision making
7. Exotic Options
- Alexander Eydeland and Krzysztof Wolyniec
- Options defined
  - Determinants or attributes of exoticity
8. Simulation for Organisational Learning in Competitive Electricity Markets
- Isaac Dyner , Erik Larsen, Alessandro Lomi
- System dynamics as a modelling tool
  - Timing risk