Optimal investment portfolio strategies for power enterprises under multi-policy scenarios of renewable energy

2022 ◽  
Vol 154 ◽  
pp. 111879
Author(s):  
Mingming Zhang ◽  
Yamei Tang ◽  
Liyun Liu ◽  
Dequn Zhou
Energy Policy ◽  
2010 ◽  
Vol 38 (5) ◽  
pp. 2608 ◽  
Author(s):  
José Ignacio Muñoz ◽  
Agustín A. Sánchez de la Nieta ◽  
Javier Contreras ◽  
José Luis Bernal-Agustín

Energy Policy ◽  
2009 ◽  
Vol 37 (12) ◽  
pp. 5273-5284 ◽  
Author(s):  
José Ignacio Muñoz ◽  
Agustín A. Sánchez de la Nieta ◽  
Javier Contreras ◽  
José L. Bernal-Agustín

2021 ◽  
pp. 0958305X2199229
Author(s):  
Jingyu Qu ◽  
Wooyoung Jeon

Renewable generation sources still have not achieved economic validity in many countries including Korea, and require subsidies to support the transition to a low-carbon economy. An initial Feed-In Tariff (FIT) was adopted to support the deployment of renewable energy in Korea until 2011 and then was switched to the Renewable Portfolio Standard (RPS) to implement more market-oriented mechanisms. However, high volatilities in electricity prices and subsidies under the RPS scheme have weakened investment incentives. In this study we estimate how the multiple price volatilities under the RPS scheme affect the optimal investment decisions of energy storage projects, whose importance is increasing rapidly because they can mitigate the variability and uncertainty of solar and wind generation in the power system. We applied mathematical analysis based on real-option methods to estimate the optimal trigger price for investment in energy-storage projects with and without multiple price volatilities. We found that the optimal trigger price of subsidy called the Renewable Energy Certificate (REC) under multiple price volatilities is 10.5% higher than that under no price volatilities. If the volatility of the REC price gets doubled, the project requires a 26.6% higher optimal investment price to justify the investment against the increased risk. In the end, we propose an auction scheme that has the advantage of both RPS and FIT in order to minimize the financial burden of the subsidy program by eliminating subsidy volatility and find the minimum willingness-to-accept price for investors.


foresight ◽  
2018 ◽  
Vol 20 (5) ◽  
pp. 527-553
Author(s):  
Ferdy Novianto ◽  
Sumartono Sumartono ◽  
Irwan Noor ◽  
Lely Indah Mindarti

Purpose This paper aims to examine the effect of communication, resources, disposition and bureaucratic structure to the success of energy subsidy policy, to examine the effect of moderation of variable scenario of renewable energy policy on the influence of communication, resources, disposition and bureaucracy structure on the success of energy subsidy policy. Design/methodology/approach This study was purposively (based on specific objectives) conducted in Jakarta, which is associated with the implementation and subsidy policy scenario, the study focused on the center of government, namely, the capital city, Jakarta. Collection of data in this research survey was conducted in June-August 2017. The sampling technique was proportional stratified random sampling that took up most of the 770 members of Masyarakat Peduli Energi dan Lingkungan and Masyarakat Energi Terbarukan Indonesia using a representative sample of results that have the ability to be generalized. Based on the formula Slovin (Solimun and Fernandes, 2017), a sample of 145 respondents was obtained. The research approach used was a quantitative with the analysis tool called the generalized structure component analysis. Findings This paper exhibited that all relationships between variables have a p-value of 0.05 except the third moderation and fourth moderation relationship. So it can be said that all relationships between variables are significant except the relationship between the variables of moderation to the relationship between the disposition variable (X3) on the successful implementation of subsidy policy (Y) and the relationship between the moderation variable to the relationship between bureaucracy structure variable (X4) to the successful implementation of subsidy policy. Originality/value The originality of the research refers to the following: The Policy Theory described by Edwards III (1980), and reinforced by the findings of Ratminto and Winarsih (2005), and Bloom et al. (2009), that communication, resources, dispositions and bureaucratic structures affect the success of the energy subsidy policy. This becomes the formulation of a hypothesized research problem whether communication, resources, disposition and bureaucratic structure affect the success of the energy subsidy policy. In fact, the conditions in Indonesia are quite different from the Western world, and the system in Indonesia has embraced subsidies. Therefore, this study also examines the moderating effects of renewable energy policy scenarios in the relationship between communication, resources, dispositions and bureaucratic structures on the success of the subsidy policy energy. Given that there is no strong theory that examines the effects of moderation of these four factors on the success of the energy subsidy policy. Therefore, as the development of Edward III Theory, this study examines the proposition of whether renewable energy policy scenarios reinforce or weaken (moderation effects) on the effects of communication, resources, dispositions and bureaucratic structures on the success of energy subsidy policies.


2020 ◽  
Vol 1 (11) ◽  
pp. 33-47
Author(s):  
Leonid S. Zvyagin ◽  

Recently, the methods of gametheoretic modeling are increasingly used in the financial sphere. In particular, the formation of an optimal investment portfolio is considered and analyzed from the point of view of game theory as a type of cooperative game. In business, game theory is widely used to model the behavior between competitors. Economists often use game theory to understand the behavior of oligopolies, trying to calculate when firms collude. The relevance of game theory methods for the financial and economic sphere is due to their universality, as well as mathematical validity. This article examines how using the concepts contained in game theory, it is possible not only to build real scenarios for such situations as price competition, production and output, the relationship between buyer and seller, but also to predict their results. The purpose of this article is to study the basic concepts of game theory, as well as to consider practical approaches to solving specific situations that are reflected in the financial and economic sphere


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