NDLI: Valuing a flexible regulatory framework for transmission expansion investments

Content Provider	IEEE Xplore Digital Library
Author	Blanco, G.A. Pringles, R.M. Olsina, F.G. Garces, F.F.
Copyright Year	2009
Description	Author affiliation: Institute of Electrical Energy (IEE) at National University of San Juan (UNSJ), Argentina (Blanco, G.A.; Pringles, R.M.; Olsina, F.G.; Garces, F.F.)
Abstract	Regulatory frameworks for inducing efficient and well-timed investments in electric transmission systems is currently an issue of considerable interest for researchers, policymakers and transmission investors. The traditional approaches have encountered several problems in managing the huge uncertainties involved in the transmission expansion problem, preventing investors expanding from the system in an optimal manner. For dealing appropriately with uncertainty within the transmission expansion problem it seems necessary to introduce some kind of strategic flexibility in order to make contingent decisions. In this article, a new investment approach that properly assesses a merchant transmission investment with the option of becoming regulated in case of an unfavorable unfolding of the uncertain future conditions (switching option) is proposed. In a numerical example, the economic value of the flexibility provided by the proposed approach is compared against the option value of deferring investments in the traditional merchant approach.
Starting Page	1
Ending Page	8
File Size	1287762
Page Count	8
File Format	PDF
ISBN	9781424422340
DOI	10.1109/PTC.2009.5282096
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2009-06-28
Publisher Place	Romania
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Investments Decision support systems Uncertainty Merchant Transmission Investment Monte Carlo Method Real Options Regulated Transmission Investment Strategic Flexibility Switching Option
Content Type	Text
Resource Type	Article

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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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