GSTDTAP  > 气候变化
DOI10.1016/j.enpol.2019.06.046
Potential benefits of optimal intra-day electricity hedging for the environment: The perspective of electricity retailers
Boroumand, Raphael-Homayoun1; Goutte, Stephane2,3; Guesmi, Khaled4,5; Porcher, Thomas1
2019-09-01
发表期刊ENERGY POLICY
ISSN0301-4215
EISSN1873-6777
出版年2019
卷号132页码:1120-1129
文章类型Article
语种英语
国家France; Canada
英文摘要

Our article provides a better understanding of risk management strategies for all energy market stakeholders. A good knowledge of optimal risk hedging strategies is not only important for energy companies but also for regulators and policy makers in a context of climate emergency. Indeed, the electricity sector is key to achieve energy and ecological transition. Electricity companies should be on frontline of climate change struggle. Taking the perspective of electricity retailers, we analyze a range of portfolios made of forward contracts and/or power plants for specific hourly clusters based on electricity market data from the integrated German-Austrian spot market. We prove that intra-day hedging with forward contracts is sub-optimal compared to financial options and physical assets. By demonstrating the contribution of infra-day hedging with options and physical assets, we highlight the specificities of electricity markets as hourly markets with strong volatility during peak hours. By simulating optimal hedging strategies, our article proposes a range of new portfolios for electricity retailers to manage their risks and reduce their sourcing costs. A lower hedging cost enables to allocate more resources to digitalization and energy efficiency services to take into account customers' expectations for more climate-friendly retailers. This is a virtuous circle. Retailers provide high value-added energy efficiency services so that consumers consume less. The latter contributes to reach electricity reduction targets to fight climate warming.


英文关键词Diversification Climate Electricity Risk Intra-day Hedging
领域气候变化
收录类别SCI-E ; SSCI
WOS记录号WOS:000483425800105
WOS关键词VERTICAL ARRANGEMENTS ; MARKETS ; RISK
WOS类目Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies
WOS研究方向Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology
引用统计
文献类型期刊论文
条目标识符http://119.78.100.173/C666/handle/2XK7JSWQ/186465
专题气候变化
作者单位1.PSB Paris Sch Business, 59 Rue Natl, F-75013 Paris, France;
2.Univ Paris 8 LED, 2 Rue Liberte, F-93526 St Denis, France;
3.Paris Dauphine Univ, CEEM, Paris, France;
4.IPAG Business Sch, Paris, France;
5.Univ Ottawa, Telfier Sch Management, Ottawa, ON, Canada
推荐引用方式
GB/T 7714
Boroumand, Raphael-Homayoun,Goutte, Stephane,Guesmi, Khaled,et al. Potential benefits of optimal intra-day electricity hedging for the environment: The perspective of electricity retailers[J]. ENERGY POLICY,2019,132:1120-1129.
APA Boroumand, Raphael-Homayoun,Goutte, Stephane,Guesmi, Khaled,&Porcher, Thomas.(2019).Potential benefits of optimal intra-day electricity hedging for the environment: The perspective of electricity retailers.ENERGY POLICY,132,1120-1129.
MLA Boroumand, Raphael-Homayoun,et al."Potential benefits of optimal intra-day electricity hedging for the environment: The perspective of electricity retailers".ENERGY POLICY 132(2019):1120-1129.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
查看访问统计
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Boroumand, Raphael-Homayoun]的文章
[Goutte, Stephane]的文章
[Guesmi, Khaled]的文章
百度学术
百度学术中相似的文章
[Boroumand, Raphael-Homayoun]的文章
[Goutte, Stephane]的文章
[Guesmi, Khaled]的文章
必应学术
必应学术中相似的文章
[Boroumand, Raphael-Homayoun]的文章
[Goutte, Stephane]的文章
[Guesmi, Khaled]的文章
相关权益政策
暂无数据
收藏/分享
所有评论 (0)
暂无评论
 

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。