000 04055nam a22004815i 4500
001 978-1-4471-5592-8
003 DE-He213
005 20140220082810.0
007 cr nn 008mamaa
008 131111s2013 xxk| s |||| 0|eng d
020 _a9781447155928
_9978-1-4471-5592-8
024 7 _a10.1007/978-1-4471-5592-8
_2doi
050 4 _aHD9502-9502.5
072 7 _aTH
_2bicssc
072 7 _aKNB
_2bicssc
072 7 _aBUS070040
_2bisacsh
082 0 4 _a333.79
_223
082 0 4 _a338.926
_223
100 1 _aAbadie, L.M.
_eauthor.
245 1 0 _aInvestment in Energy Assets Under Uncertainty
_h[electronic resource] :
_bNumerical methods in theory and practice /
_cby L.M. Abadie, J.M. Chamorro.
264 1 _aLondon :
_bSpringer London :
_bImprint: Springer,
_c2013.
300 _aXV, 187 p. 34 illus.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aLecture Notes in Energy,
_x2195-1284 ;
_v21
505 0 _aValuation made simple: No uncertainties, just time -- Theoretical foundations -- Analytical solutions -- Binomial lattices -- Finite difference methods -- Monte Carlo simulation -- Economic and technical background -- Valuation of energy assets: A single risk factor -- Valuation of energy assets: Two risk factors -- Valuation of energy assets: Three risk factors -- Value maximization and optimal management of energy assets.
520 _aThis book aims to provide a rigorous yet pragmatic approach to the valuation and management of investments in the energy sector. Time and uncertainty pervade most if not all issues relevant to energy assets. They run from the early stage of prototype and demonstration to the ultimate abandonment and decommissioning. Risk in particular appears in several areas; thus, one can distinguish technical risk from financial risk. Furthermore, the extent to which one can react to them is different (just think of price risk and regulation risk). Markets in general, and financial markets in particular, regularly put a price on a number of assets which differ in their return/risk characteristics. And academia has developed sound financial principles for valuation purposes in a number of contexts. Nonetheless, the physical characteristics of the assets involved also play a key role in their valuation if only because of the restrictions that they entail. There are some instances in which the practitioner/researcher is able to come up with an analytical solution to the valuation problem. Typically, however, these instances are limited because of their relying on stylized facts or idealized frameworks. Unfortunately, many relevant instances lack analytical solutions, so one must resort to numerical methods. The book clearly explains how to implement them in a meaningful way. Their usefulness is further enhanced when numerical estimates of relevant parameters are derived from actual market prices (as long as these are available and reliable). The book starts from the basics of valuation in a dynamic, certain context. The second part then considers uncertainty and introduces a number of useful results and tools to grapple effectively with it. The last part applies these tools to the valuation of energy assets in a sequential manner, i.e. by considering one, two and three sources of risk. The last chapter provides examples of joint optimal management and value maximization in conventional power plants.
650 0 _aEngineering economy.
650 1 4 _aEnergy.
650 2 4 _aEnergy Policy, Economics and Management.
650 2 4 _aEnergy Economics.
650 2 4 _aFinance/Investment/Banking.
700 1 _aChamorro, J.M.
_eauthor.
710 2 _aSpringerLink (Online service)
773 0 _tSpringer eBooks
776 0 8 _iPrinted edition:
_z9781447155911
830 0 _aLecture Notes in Energy,
_x2195-1284 ;
_v21
856 4 0 _uhttp://dx.doi.org/10.1007/978-1-4471-5592-8
912 _aZDB-2-ENE
999 _c94860
_d94860