EnergyRN: Other Energy Finance (Sub-Topic)最新文献

Estimating Financial Risks from the Energy Transition: Potential Impacts from Decarbonisation in the European Power Sector 估计能源转型的金融风险:欧洲电力部门脱碳的潜在影响

EnergyRN: Other Energy Finance (Sub-Topic) Pub Date : 2020-04-04 DOI: 10.2139/ssrn.3598183

C. Cormack, Charles Donovan, Alexandre C. Kõberle, Anastasiya Ostrovnaya

引用次数: 7

Analysis of the Global Energy Industry, Climate Change and Financial Matters: The Need for Effective Corporate Governance 全球能源产业、气候变化和金融问题分析:有效公司治理的必要性

EnergyRN: Other Energy Finance (Sub-Topic) Pub Date : 2019-10-21 DOI: 10.1504/ijcg.2019.103223

Todd Broker, D. Durr, Murphy D. Smith

引用次数: 4

Heterogeneities in Energy Technological Learning: Evidence from the U.S. Electricity Industry 能源技术学习的异质性:来自美国电力行业的证据

EnergyRN: Other Energy Finance (Sub-Topic) Pub Date : 2019-09-01 DOI: 10.1016/J.ENPOL.2019.06.052

E. Shittu, Bruno Kamdem, Carmen Weigelt

引用次数: 12

Multi-Asset Pricing Modeling Using Holding-Based Network in Energy Markets 基于持有网络的能源市场多资产定价模型

EnergyRN: Other Energy Finance (Sub-Topic) Pub Date : 2019-03-09 DOI: 10.2139/ssrn.3728499

Wentao Wang, Junhuan Zhang

{"title":"Multi-Asset Pricing Modeling Using Holding-Based Network in Energy Markets","authors":"Wentao Wang, Junhuan Zhang","doi":"10.2139/ssrn.3728499","DOIUrl":"https://doi.org/10.2139/ssrn.3728499","url":null,"abstract":"This paper combines multi-asset pricing model with network theory to study multiasset pricing in the holding-based network. We obtain a new expression of equilibrium price by inducing the network parameter. To testify the practical significance of our model of real asset prices, we fit the quarterly prices of stocks from four energy indices and measure the fitting effect. Firstly, we analyze the evolution of network properties and find: the numbers of shareholders of the CSI 300 Energy stocks and the S&P 500 Energy stocks are more stable than those of whom invest in the SSE Energy Sector stocks and the SZSE Energy Sector stocks; in addition, the networks from the more stable stocks are denser than those from the less stable one; the market crash during the period of June to September 2015 causes a critical drop in the quantity of shareholders and increases in shareholders’ co-holding behavior and stability; the shareholders of American listed energy companies have strengthened co-holding behavior and higher stability than those of China’s listed energy companies. Secondly, by defining the fitting coefficient F evaluating the fitting effect under different risk aversion scenarios, we argue that the investors of the SSE Energy Sector stocks, the SZSE Energy Sector stocks, the CSI 300 Energy stocks and the S&P 500 Energy stocks, are respectively risk-averse, risk-neutral, risk-loving and risk-neutral. Thirdly, by plotting the PDFs and CCDFs of stock returns, compared to the Gaussian distribution, we find that both the fitted returns and the real returns depict the features of high kurtosis and fat tail. Eventually, the comparison shows that, in diverse levels of risk aversion for each energy index, the approach proposed in this research is more accurate in fitting relative to the conventional method.","PeriodicalId":265222,"journal":{"name":"EnergyRN: Other Energy Finance (Sub-Topic)","volume":"119 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123249125","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Evaluating the Public Financing for Florida's Wind Risk 评估佛罗里达州风力风险的公共融资

EnergyRN: Other Energy Finance (Sub-Topic) Pub Date : 2018-03-01 DOI: 10.1111/RMIR.12092

Lorilee A. Medders, Jack E. Nicholson

{"title":"Evaluating the Public Financing for Florida's Wind Risk","authors":"Lorilee A. Medders, Jack E. Nicholson","doi":"10.1111/RMIR.12092","DOIUrl":"https://doi.org/10.1111/RMIR.12092","url":null,"abstract":"To increase residential property insurance options for windâ€ related disaster events, the State of Florida created the Citizens Property Insurance Corporation (Citizens) and the Florida Hurricane Catastrophe Fund. These entities play a major role in financing disaster losses for Florida. In this policy article, the authors assert that the State of Florida has emphasized the political objective of insurance affordability rather than managing and controlling risk for the benefit of the citizens of the state. The burden for financing catastrophic hurricane losses has been transferred to the public as most property and casualty insurance policies in Florida are assessable. Florida plays an inherent leadership role in the disaster risk arena, given its high exposure as well as its deep insurance penetration. The authors assert that while Florida has taken a leadership role in disaster risk control, the state's disaster risk financing strategy has failed to employ a longâ€ term focus that recognizes the interconnectedness of all parts of the system. The opportunity for the state going forward is to change its public policy focus to one that emphasizes availability over affordability. Florida's private markets could operate more competitively, and thus not unnecessarily place Florida's citizens and their economy at risk.","PeriodicalId":265222,"journal":{"name":"EnergyRN: Other Energy Finance (Sub-Topic)","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115480185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 11

Impact of Electricity Pricing Policies on Renewable Energy Investments and Carbon Emissions 电价政策对可再生能源投资和碳排放的影响

EnergyRN: Other Energy Finance (Sub-Topic) Pub Date : 2015-08-27 DOI: 10.2139/ssrn.2525940

Gurhan Kok, Kevin H. Shang, Şafak Yücel

{"title":"Impact of Electricity Pricing Policies on Renewable Energy Investments and Carbon Emissions","authors":"Gurhan Kok, Kevin H. Shang, Şafak Yücel","doi":"10.2139/ssrn.2525940","DOIUrl":"https://doi.org/10.2139/ssrn.2525940","url":null,"abstract":"We investigate the impact of pricing policies (i.e., flat pricing versus peak pricing) on the investment levels of a utility firm in two competing energy sources (renewable and conventional), with a focus on the renewable investment level. We consider generation patterns and intermittency of solar and wind energy in relation to the electricity demand throughout a day. Industry experts generally promote peak pricing policy as it smoothens the demand and reduces inefficiencies in the supply system. We find that the same pricing policy may lead to distinct outcomes for different renewable energy sources due to their generation patterns. Specifically, flat pricing leads to a higher investment level for solar energy and it can still lead to more investments in wind energy if considerable amount of wind energy is generated throughout the day. We validate these results by using electricity generation and demand data of Texas. We also show that flat pricing can lead to substantially lower carbon emissions and a higher consumer surplus. Finally, we explore the effect of direct (e.g., tax credit) and indirect (e.g., carbon tax) subsidies on the investment levels and carbon emissions. We show that both types of subsidies generally lead to a lower emission level but indirect subsidies may result in lower renewable energy investments. Our study suggests that reducing carbon emissions through increasing renewable energy investments requires a careful attention to the pricing policy and the market characteristics of each region.","PeriodicalId":265222,"journal":{"name":"EnergyRN: Other Energy Finance (Sub-Topic)","volume":"154 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128923896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 175