Artwork

A tartalmat a the Power Department and The Power Department biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a the Power Department and The Power Department vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.
Player FM - Podcast alkalmazás
Lépjen offline állapotba az Player FM alkalmazással!

Resource Adequacy, Tail Risk, and Institutional Capability

1:14:01
 
Megosztás
 

Manage episode 422868365 series 2994028
A tartalmat a the Power Department and The Power Department biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a the Power Department and The Power Department vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.

Conleigh, Farhad, Ahlmahz, and Paul debrief on coverage of FERC Order 1920 then discuss resource adequacy, hedging tail risk, and preview business capability models.

Ahlmahz Negash, Conleigh Byers, and Farhad Billimoria scan news stories after FERC’s release of Order 1920, then Conleigh Byers explains Resource adequacy, and Farhad Billimoria explains Hedging & Tail Risk in Electricity Markets.

You can find the podcast on Apple Podcast, Spotify, or wherever you get your podcasts. Share with friends that are energy enthusiasts, like us!

03:17 - Short-to-Ground (FERC Order 1920 Edition)

41:03 - Hedging and Tail Risk in Electricity Markets By: Farhad Billimoria , Jacob Mays , Rahmat Poudineh

Abstract: A concern persistent in scarcity-based market designs for electricity over many years has been the illiquidity of markets for long-term contracts to hedge away volatile price exposures between generators and consumers. These missing markets have been attributed to a range of factors including retailer creditworthiness, market structure and the lack of demand side interest from consumers. Using a stochastic equilibrium model and insights from insurance theory, we demonstrate the inherent challenges of hedging a legacy thermal portfolio that is dominated by volatile fat-tailed commodities with significant tail dependence. Under such conditions the price required for generators to provide such hedges can be multiples of the expected value of prices. Our key insight is that when the real-world constraints of credit and financing are considered, the volatility of thermal fuels and their co-dependence under extremes may be a key reason as to why electricity markets have been incomplete in terms of long-term hedging contracts. Counterintuitively, in the context of the energy transition, our results show that, ceteris paribus, increasing the penetration of low carbon resources like wind, solar and energy storage, can add tail-diversity and improve contractability.

22:16 - The Future of Resource Adequacy in a Decarbonized Grid w/ Conleigh Byers

Conleigh Byers Resource Adequacy Harvard Energy Policy Seminar 25 4.93MB ∙ PDF file DownloadDownload

1:02:23 - Institutions in the electric sector are evolving like the eras of Taylor Swift, but are their business models evolving with them?

Public Power Underground, for electric utility enthusiasts! Public Power Underground, it’s work to watch!

  continue reading

114 epizódok

Artwork
iconMegosztás
 
Manage episode 422868365 series 2994028
A tartalmat a the Power Department and The Power Department biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a the Power Department and The Power Department vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.

Conleigh, Farhad, Ahlmahz, and Paul debrief on coverage of FERC Order 1920 then discuss resource adequacy, hedging tail risk, and preview business capability models.

Ahlmahz Negash, Conleigh Byers, and Farhad Billimoria scan news stories after FERC’s release of Order 1920, then Conleigh Byers explains Resource adequacy, and Farhad Billimoria explains Hedging & Tail Risk in Electricity Markets.

You can find the podcast on Apple Podcast, Spotify, or wherever you get your podcasts. Share with friends that are energy enthusiasts, like us!

03:17 - Short-to-Ground (FERC Order 1920 Edition)

41:03 - Hedging and Tail Risk in Electricity Markets By: Farhad Billimoria , Jacob Mays , Rahmat Poudineh

Abstract: A concern persistent in scarcity-based market designs for electricity over many years has been the illiquidity of markets for long-term contracts to hedge away volatile price exposures between generators and consumers. These missing markets have been attributed to a range of factors including retailer creditworthiness, market structure and the lack of demand side interest from consumers. Using a stochastic equilibrium model and insights from insurance theory, we demonstrate the inherent challenges of hedging a legacy thermal portfolio that is dominated by volatile fat-tailed commodities with significant tail dependence. Under such conditions the price required for generators to provide such hedges can be multiples of the expected value of prices. Our key insight is that when the real-world constraints of credit and financing are considered, the volatility of thermal fuels and their co-dependence under extremes may be a key reason as to why electricity markets have been incomplete in terms of long-term hedging contracts. Counterintuitively, in the context of the energy transition, our results show that, ceteris paribus, increasing the penetration of low carbon resources like wind, solar and energy storage, can add tail-diversity and improve contractability.

22:16 - The Future of Resource Adequacy in a Decarbonized Grid w/ Conleigh Byers

Conleigh Byers Resource Adequacy Harvard Energy Policy Seminar 25 4.93MB ∙ PDF file DownloadDownload

1:02:23 - Institutions in the electric sector are evolving like the eras of Taylor Swift, but are their business models evolving with them?

Public Power Underground, for electric utility enthusiasts! Public Power Underground, it’s work to watch!

  continue reading

114 epizódok

Minden epizód

×
 
Loading …

Üdvözlünk a Player FM-nél!

A Player FM lejátszó az internetet böngészi a kiváló minőségű podcastok után, hogy ön élvezhesse azokat. Ez a legjobb podcast-alkalmazás, Androidon, iPhone-on és a weben is működik. Jelentkezzen be az feliratkozások szinkronizálásához az eszközök között.

 

Gyors referencia kézikönyv