Publisher:
Risk Books of Risk Waters Group, which organises Risk Conferences, publishes Energy Power Risk Management (EPRM) monthly trade magazine of the energy trading and risk management community.
Buy at Amazon.co.uk
Hardcover, 241 pages
8 chapters with illustrations and index
ISBN: 1 904339 11 5
Further
details
List price: £80 or US$ 126.
Free delivery on Amazon.
Academic discount - students & teachers 30%
Free academic inspection copy for 31 days. Please e-mail books@riskbooks.com to make your request.
Buy at Amazon.com
Click through for table of contents etc.
Previous energy work written and/or edited by Anne Ku
about the book
Risk and flexibility in electricity:
introduction
to the fundamentals and techniques
edited by Anne Ku
published by RiskBooks
RiskBooks information on this book
Comments and reviews about the book
Just published! reflections by Anne Ku
Book review by Marco Antonio Guimarães Dias 27 Jan 2004
Last update: 5 August 2005
Chapter Contents
0. Introduction and overview: the supply or value chain:
fuel, generation, transmission, distribution, supply (descriptive, historical,
philosophical)
" Physical processes redefined by risk and flexibility
"
Decision makers redefined
" Contracts
" Impact of deregulation
(Anne Ku)
1. Fuel: trading and procurement
" Cross-commodity
trading
" Oil
" Natural gas
" Coal
" Nuclear
(Pushkar Wagle)
2. Renewables and intermittent generation
" Hydro
" Renewables
(Andrew Miller)
3. Analysing risk and return in the physical energy portfolio: a non-technical
overview
" Asset valuation (real
options)
" Asset optimisation
" Portfolio optimisation
(Jim Christian)
4. What's driving the demand for forecasting
" Prices: forecasting vs forward curves
" Supply forecasting
"
Demand forecasting
" Simulation, scenario analysis
(Fereidoon Sioshansi)
5. Transmission, transmission services and non-energy markets
" Transmission pricing
" Basis hedge
" Delivery
risk
(Andrew Miller)
6. Fundamentals of retail transactions
" Deal structuring
" Risks
"
Decision making
(Lance Hinrichs)
7. Exotic options
" Options defined
" Determinants
or attributes of exoticity
" Examples
(Alexander Eydeland and Krzysztof Wolyniec)
8. Simulation for organisational learning in competitive electricity
markets
" System dynamics as a modelling tool
"
Timing risk
(Isaac Dyner , Erik Larsen, Alessandro Lomi)
Index
An introductory text which assumes no knowledge of the reader, this book serves newcomers to the industry and those that have moved within the industry via different job functions. It looks at the business of producing and delivery electricity from the beginning to the end, that is, the entire value chain from the primary fuel all the way to the end user.
As an introductory text, it is complementary to existing technical books of RiskBooks which are mainly from a financial point of view - to bridge the engineering view.
Privatisation, liberalisation, and deregulation of the electricity industry all brought about uncertainty, which is the one thing that changed the way decisions are made and attitudes are formed.
In place of vertical disintegration are now legal contracts between different entities.
From one perspective, the contracts have risks and require risk management tools for hedging purposes.
From another perspective, there are now more possibilities - more choices - more flexibility.
We can view risk and flexibility as two sides of the same coin of uncertainty. From these lenses, the supply or value chain of electricity production and delivery can be seen from the point of view of physical and financial realities.
In particular, the book focuses on topics from a decision maker's point of view.