New Book: Risk and Flexibility in Electricity:
Introduction to the Fundamentals and Techniques

This webpage presents short comments by the website author, the ToC/list of papers, and selected press-release reviews on the recent important book published by Risk Books:
"Risk and Flexibility in Electricity: Introduction to the Fundamentals and Techniquess", edited by the Anne Ku, Ph.D. and expert in electricity economics, especially in topics like flexibility, risk, real options, and related issues.
As in the editor's thesis, this book has risk and flexibility as the main themes. See details on her Ph.D. thesis and more at the Anne Ku's website.

Electricity markets present many risks and opportunities to investors, mainly after the deregulation that took place in the last ten years in many countries.
Flexibility can reduce risk and increase value by adjusting the optimal action to the changing market conditions.

This new book comprises the editor's introductory article, 8 papers plus a subject index covering all papers.
All papers are practical and very accessible with few equations, so that undergraduate students and professionals can take advantage of this welcome addiction to electricity economics bookshelf. MBA and graduate students also will learn with the diversity of topics covered by the book and they will know valuable details from the electricity markets.
The book covers all electricity industry process: generation, transmission and distribution/retailing. Among the topics analyzed I highlight renewable generation, energy portfolio, exotic options, deregulation, contracts, and even organizational learning.
The subject index is a rare issue in this kind of book (papers collection) but very important for the readers interested in specific topics. Thanks Anne, for the good edition!

Click here to go to webpage on this book.

List of Papers (ToC)

Uncertainty, Risk and Flexibility: Introduction and Overview - By Anne Ku

Section 1. Fuel: Trading and Procurement - By Pushkar Wagle

Section 2. Renewables and intermittent Generation - By Andrew Miller

Section 3. Analysing Risk and Return in the Physical Energy Portfolio: A Non-Technical Overview - By Jim Christian

Section 4. What's Driving the Demand for Forecasting? - By Fereidoon P. Sioshansi

Section 5. Transmission, Transmission Services and Non-Energy Markets - By Andrew Miller

Section 6. Fundamentals of Retail Transactions - By Lance Hinrichs

Section 7. Exotic Options - By Alexander Eydeland and Krzysztof Wolyniec

Section 8. Simulation for Organisational Learning in Competitive Electricity Markets - By Isaac Dyner , Erik Larsen, and Alessandro Lomi


Selected Press-Release Reviews

In this section I selected some reviews from both the back-cover and the press-release placed at the Risk Books website.

"The complex power beast is finally tamed in this comprehensive, well arranged volume. Each chapter is broken down into easily digestible components combining thoughtful insight with objective analysis, suitable for novices and energy veterans alike. This book is a must-read for decision makers involved in any link in the electricity value chain."
Chris Papousek, Managing Director, The New York Mercantile Exchange, Inc.

"Provides a sound foundation in both the basic and complex aspects of finding and capturing opportunities while managing risk in the volatile business of electricity trading and marketing."
Daniel E. White, Executive Vice President, Pace Global Energy Services.

"A must read for all involved in the electricity markets. This book will be useful for both novices and professionals who want a deeper understanding of the pricing techniques involved in minimizing risk in the electricity markets. Well done Anne."
Ron Levi, Managing Director, GFI Group.

"Books dealing with the basic economics used to design power markets are rare. Anne Ku's newest opus is therefore a welcome addition. Readers will find an up to date introduction to this important field, covering a wide range of topics, from engineering through trading to political issues. Renewable energy is certainly ever growing in importance, while power generation is no longer regarded as being "just available" since recent black outs in the USA and Europe. Price volatility developments show that power markets are far from being in from a mature state. Anne Ku's book is very well suited to bring readers up to speed quickly and easily."
Dr. Jörg Spicker, Vorstand/Member of the Board, Atel Energie AG.

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