Fuel cost uncertainty, capacity investment and price in a competitive electricity market

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• 作者：Nurit Gal^a ; ^{nuritgal@pua.gov.il} ; Irena Milstein^b ; ^{irenam@hit.ac.il} ; Asher Tishler^c ; ^e ; ^{ashert@tauex.tau.ac.il} ; C.K. Woo^d ; ^{chiwoo@eduhk.hk}
• 关键词：D24 ; D43 ; L11 ; L94 ; L95
• 刊名：Energy Economics
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：61
• 期：Complete
• 页码：233-240
• 全文大小：882 K
• 卷排序：61

文摘

We assess the effect of fuel cost volatility on electricity capacity and price. The price volatility of natural gas price follows a log-normal distribution. Electricity capacity increases in response to rising fuel cost volatility. Expected consumer surplus increases in response to rising fuel cost volatility. Government should not reduce price volatility of the spot market for natural gas.