Transmission Network Investment In Liberalized Power Markets

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Transmission Network Investment in Liberalized Power Markets

Author : Mohammad Reza Hesamzadeh
Publisher : Springer Nature
ISBN 13 : 3030479293
Total Pages : 590 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Transmission Network Investment in Liberalized Power Markets by : Mohammad Reza Hesamzadeh

Download or read book Transmission Network Investment in Liberalized Power Markets written by Mohammad Reza Hesamzadeh and published by Springer Nature. This book was released on 2020-09-10 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a systematic overview of transmission network investment in liberalized power markets. Recent government policies to increase the share of intermittent renewable power generation and other technological innovations present new theoretical as well as practical challenges for transmission investments. Written by experts with a background in both economics and engineering, the book examines the economic and technical fundamentals of regulated and merchant transmission investment, and includes case studies of transmission investment in a number of countries. The book is divided into four parts: Part 1 introduces the basic economics and engineering of transmission network investment, while Part 2 discusses merchant investment in the transmission network. Part 3 then examines transmission investment coordination and smart grids, and lastly, Part 4 describes practical experiences of transmission network investment in power market in various countries.

Financial Transmission Rights

Author : Juan Rosellón
Publisher : Springer Science & Business Media
ISBN 13 : 1447147871
Total Pages : 442 pages
Book Rating : 4.4/5 (471 download)

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Book Synopsis Financial Transmission Rights by : Juan Rosellón

Download or read book Financial Transmission Rights written by Juan Rosellón and published by Springer Science & Business Media. This book was released on 2013-03-15 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whilst financial rights have appeared as a successful ingredient in North-American power markets, they have their shortcomings both theoretically and in practice. Financial Transmission Rights: Analysis, Experiences and Prospects present a systematic and comprehensive overview of financial transmission rights (FTRS). Following a general introduction to FTRs, including chapters to explain transmission pricing and the general properties of FTRS, experts in the field provide discussions on wide scope of topics. These include: Varying perspectives on FTRS: from electrical engineers to economists, Different mathematical formulations of FTRS Financial Hedging using FTRS, and Alternative solutions to FTRs The detail, expertise and range of content makes Financial Transmission Rights: Analysis, Experiences and Prospect an essential resource for electricity market specialists both at academic and professional levels. “This is THE BOOK we were all expecting to address all key ‘Financial Transmission Rights’ issues. It is comprehensive and reader friendly. You can pick at will in its menu: more or less theory, a bit of maths or none, empirical review of real cases or numerical simulations of many feasible options. Big names rally there to delight you like: Hogan , Oren, Perez-Arriaga, Smeers, Hobbs and... Rosellón. More than a must read: a light house, a map and a survival kit.” Jean – Michel Glachant, Director Florence School, Holder Loyola de Palacio Chair, Chief-editor Economics of Energy & Environmental Policy. "In the last two decades, economists have developed a better understanding of the impact of financial rights on risk management, market power and network expansion in electricity markets, while power systems have experimented with such rights. Striking a good balance between academics and practitioners, always at the frontier of the field, written by the best experts, this volume is essential reading for all those- power systems’ managers and users, regulators, students and researchers- who want to understand the new electricity environment and predict its evolution." Jean Tirole, Toulouse School of Economics and Institute for Industrial Economics (IDEI) Further comments inside.

The Impact of Market Design on Transmission and Generation Investment in Electricity Markets

Author : Veronika Grimm
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Impact of Market Design on Transmission and Generation Investment in Electricity Markets by : Veronika Grimm

Download or read book The Impact of Market Design on Transmission and Generation Investment in Electricity Markets written by Veronika Grimm and published by . This book was released on 2018 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we propose an equilibrium model in order to analyze the impact of electricity market design on generation and transmission expansion in liberalized electricity markets. In a multi-level structure, our framework takes into account that generation investment and operation is decided by private investors, while network expansion and redispatch is decided by a regulated transmission system operator - as well as the different objectives of firms (profit maximization) and the regulator (welfare maximization). In order to illustrate the possibilities to quantify long term economic effects with our framework, we calibrate our model for the German electricity market. We consider various moderate adjustments of the market design: (i) the division of the market area into two price zones, (ii) the efficient curtailment of renewable production and (iii) a cost-benefit-driven balance between network expansion and network management measures. We then analyze the impact of these market designs on generation and transmission investment in case those design elements are anticipated upon network development planning. The resulting investment and production decisions are compared to a benchmark that reflects the current German electricity market design and to an overall optimal first-best benchmark. Our results reveal that price zones do have a significant impact on locational choice of generators and result in a reduced need for network expansion, but lead to only moderate annual welfare gains of approximately 0.9% of annual total system costs. Anticipation of optimal curtailment of renewables and a cost-benefit-driven use of redispatch operations upon network expansion planning, however, implies a welfare gain of over 4.9% of annual total system costs per year as compared to the existing market design, which equals 85% of the maximal possible welfare gain of the first-best benchmark.

The Economics of Electricity Markets

Author : Darryl R. Biggar
Publisher : John Wiley & Sons
ISBN 13 : 1118775724
Total Pages : 493 pages
Book Rating : 4.1/5 (187 download)

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Book Synopsis The Economics of Electricity Markets by : Darryl R. Biggar

Download or read book The Economics of Electricity Markets written by Darryl R. Biggar and published by John Wiley & Sons. This book was released on 2014-07-10 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concerns. The book covers the basic modelling of electricity markets, including the impact of uncertainty (an integral part of generation investment decisions and transmission cost-benefit analysis). It draws out the parallels to the Nordpool market (an important point of reference for Europe). Written from the perspective of the policy-maker, the first part provides the introductory background knowledge required. This includes an understanding of basic economics concepts such as supply and demand, monopoly, market power and marginal cost. The second part of the book asks how a set of generation, load, and transmission resources should be efficiently operated, and the third part focuses on the generation investment decision. Part 4 addresses the question of the management of risk and Part 5 discusses the question of market power. Any power system must be operated at all times in a manner which can accommodate the next potential contingency. This demands responses by generators and loads on a very short timeframe. Part 6 of the book addresses the question of dispatch in the very short run, introducing the distinction between preventive and corrective actions and why preventive actions are sometimes required. The seventh part deals with pricing issues that arise under a regionally-priced market, such as the Australian NEM. This section introduces the notion of regions and interconnectors and how to formulate constraints for the correct pricing outcomes (the issue of "constraint orientation"). Part 8 addresses the fundamental and difficult issue of efficient transmission investment, and finally Part 9 covers issues that arise in the retail market. Bridges the gap between engineering and economics in electricity, covering both the economics and engineering knowledge needed to accurately understand, plan and develop the electricity market Comprehensive coverage of all the key topics in the economics of electricity markets Covers the latest research and policy issues as well as description of the fundamental concepts and principles that can be applied across all markets globally Numerous worked examples and end-of-chapter problems Companion website holding solutions to problems set out in the book, also the relevant simulation (GAMS) codes

Investment in Electricity Generation and Transmission

Author : Antonio J. Conejo
Publisher : Springer
ISBN 13 : 3319295012
Total Pages : 389 pages
Book Rating : 4.3/5 (192 download)

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Book Synopsis Investment in Electricity Generation and Transmission by : Antonio J. Conejo

Download or read book Investment in Electricity Generation and Transmission written by Antonio J. Conejo and published by Springer. This book was released on 2016-06-10 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth analysis of investment problems pertaining to electric energy infrastructure, including both generation and transmission facilities. The analysis encompasses decision-making tools for expansion planning, reinforcement, and the selection and timing of investment options. In this regard, the book provides an up-to-date description of analytical tools to address challenging investment questions such as: How can we expand and/or reinforce our aging electricity transmission infrastructure? How can we expand the transmission network of a given region to integrate significant amounts of renewable generation? How can we expand generation facilities to achieve a low-carbon electricity production system? How can we expand the generation system while ensuring appropriate levels of flexibility to accommodate both demand-related and production-related uncertainties? How can we choose among alternative production facilities? What is the right time to invest in a given production or transmission facility? Written in a tutorial style and modular format, the book includes a wealth of illustrative examples to facilitate comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, operations research, management science, and economics. Practitioners in the electric energy sector will also benefit from the concepts and techniques presented here.

Modeling Competition and Investment in Liberalized Electricity Markets

Author : Hannes Weigt
Publisher : Sudwestdeutscher Verlag Fur Hochschulschriften AG
ISBN 13 : 9783838122601
Total Pages : 180 pages
Book Rating : 4.1/5 (226 download)

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Book Synopsis Modeling Competition and Investment in Liberalized Electricity Markets by : Hannes Weigt

Download or read book Modeling Competition and Investment in Liberalized Electricity Markets written by Hannes Weigt and published by Sudwestdeutscher Verlag Fur Hochschulschriften AG. This book was released on 2010 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thesis current questions regarding the functionality of liberalized electricity markets are studied addressing different topics of interest in two main directions: market power and competition policy on electricity wholesale markets, and network investments and incentive regulation. The former is studied based on the case of the German electricity market with respect to ex-post market power analysis and ex-ante remedy development. First an optimization model is designed to obtain the competitive benchmark which can be compared to the observed market outcomes between 2004 and 2006. In a second step the horizontal breaking up of dominant firms (divestiture) is simulated applying equilibrium techniques (the classical Cournot approach and the Supply Function Equilibrium approach). The later issue of transmission capacity investment is addressed by highlighting the complexity of network investments in electricity markets and by analyzing a regulatory mechanism with a two part tariff approach. The technical characteristics of power flows are combined with economic criteria and tested for different network settings.

Modeling Competition and Investment in Liberalized Electricity Markets

Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (652 download)

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Book Synopsis Modeling Competition and Investment in Liberalized Electricity Markets by :

Download or read book Modeling Competition and Investment in Liberalized Electricity Markets written by and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thesis current questions regarding the functionality of liberalized electricity markets are studied addressing different topics of interest in two main directions: market power and competition policy on electricity wholesale markets, and network investments and incentive regulation. The former is studied based on the case of the German electricity market with respect to ex-post market power analysis and ex-ante remedy development. First an optimization model is designed to obtain the competitive benchmark which can be compared to the observed market outcomes between 2004 and 2006. In a second step the horizontal breaking up of dominant firms (divestiture) is simulated applying equilibrium techniques (the classical Cournot approach and the Supply Function Equilibrium approach). The later issue of transmission capacity investment is addressed by highlighting the complexity of network investments in electricity markets and by analyzing a regulatory mechanism with a two part tariff approach. The technical characteristics of power flows are combined with economic criteria and tested for different network settings.

Market Liberalization

Author : Natascha Ljubic
Publisher : GRIN Verlag
ISBN 13 : 3638702685
Total Pages : 68 pages
Book Rating : 4.6/5 (387 download)

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Book Synopsis Market Liberalization by : Natascha Ljubic

Download or read book Market Liberalization written by Natascha Ljubic and published by GRIN Verlag. This book was released on 2007-08 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2004 in the subject Economics - Case Scenarios, grade: 1 (A), Vienna University of Economics and Business (New Media Lab), course: Baccalaureut Work, language: English, abstract: The liberalization of the European electricity market is supposed to reduce electricity prices by opening up to competition and by promoting integration of the common European market. Deregulation allows energy consumers to choose their electric energy supplier and therefore dissolves electric utility monopolies. The resulting re-regulation and restructuring of the electricity industry has created oppor-tunities and challenges that need to be addressed to ensure long-term capacity sustainability. The promise and benefit expectations of electricity market liberalization may need to be tempered by the reality of the process. Market liberalization of the electricity supply sector depends on many different factors and boundary conditions in the EU. In order to analyze these issues, we will use Austria as an example showing the development in liberalization, deregulation, and even re-regulation processes and the impact on the industry structure and final consumer pricing. Given the industry structure, incentives to invest in the Austrian transmission and distribution networks remain to be established. We will show that high inflexible taxes and monopoly protected transmission costs, both together account for 80% of the price of electricity. Moreover, only 20% of the electricity market is liberalized and thus any price reductions due to the liberalization of the market will be minimal and therefore possibly "non existent" in Austria.

Investment in European Electricity Transmission Networks : how Can We Get it Just Right ? Economically Appropriate Ways of Incorporating Transmission Network Investment in the Regulatory Framework of Competitive EU Electricity Markets

Download Investment in European Electricity Transmission Networks : how Can We Get it Just Right ? Economically Appropriate Ways of Incorporating Transmission Network Investment in the Regulatory Framework of Competitive EU Electricity Markets PDF Online Free

Author :
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (951 download)

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Book Synopsis Investment in European Electricity Transmission Networks : how Can We Get it Just Right ? Economically Appropriate Ways of Incorporating Transmission Network Investment in the Regulatory Framework of Competitive EU Electricity Markets by :

Download or read book Investment in European Electricity Transmission Networks : how Can We Get it Just Right ? Economically Appropriate Ways of Incorporating Transmission Network Investment in the Regulatory Framework of Competitive EU Electricity Markets written by and published by . This book was released on 2005 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Impact of Transmission Network Investments on Market Power in the German Electricity Market

Author : Ingo Ellersdorfer
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (879 download)

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Book Synopsis Impact of Transmission Network Investments on Market Power in the German Electricity Market by : Ingo Ellersdorfer

Download or read book Impact of Transmission Network Investments on Market Power in the German Electricity Market written by Ingo Ellersdorfer and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Patterns of Transmission Investment

Author : Paul L. Joskow
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (611 download)

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Book Synopsis Patterns of Transmission Investment by : Paul L. Joskow

Download or read book Patterns of Transmission Investment written by Paul L. Joskow and published by . This book was released on 2005 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines a number of issues associated with alternative analytical approaches for evaluating investments in electricity transmission infrastructure and alternative institutional arrangements to govern network operation, maintenance and investment. The economic and physical attributes of different types of transmission investments are identified and discussed. Alternative organizational and regulatory structures and their attributes are presented. The relationships between transmission investments driven by opportunities to reduce congestion and loss costs and transmission investment driven by traditional engineering reliability criteria are discussed. Reliability rules play a much more important role in transmission investment decisions today than do economic investment criteria as depicted in standard economic models of transmission networks. These models fail to capture key aspects of transmission operating and investment behavior that are heavily influenced by uncertainty, contingency criteria and associated engineering reliability rules. I illustrate how the wholesale market and transmission investment frameworks have addressed these issues in England and Wales (E & W) since 1990 and in the PJM Regional Transmission Organization (RTO) in the U.S. since 2000. I argue that economic and reliability-based criteria for transmission investment are fundamentally interdependent. Ignoring these interdependencies will have adverse effects on the efficiency of investment in transmission infrastructure and undermine the success of electricity market liberalization.

The Impact of Market Design on Transmission and Generation Investments in Liberalized Electricity Markets with Zonal Pricing

Author : Christian Sölch
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (112 download)

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Book Synopsis The Impact of Market Design on Transmission and Generation Investments in Liberalized Electricity Markets with Zonal Pricing by : Christian Sölch

Download or read book The Impact of Market Design on Transmission and Generation Investments in Liberalized Electricity Markets with Zonal Pricing written by Christian Sölch and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Electric Transmission Infrastructure and Investment Needs

Author : United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Water and Power
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Electric Transmission Infrastructure and Investment Needs by : United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Water and Power

Download or read book Electric Transmission Infrastructure and Investment Needs written by United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Water and Power and published by . This book was released on 2001 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Competitive Electricity Markets and Sustainability

Author : François Lévêque
Publisher : Edward Elgar Publishing
ISBN 13 : 184720435X
Total Pages : 319 pages
Book Rating : 4.8/5 (472 download)

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Book Synopsis Competitive Electricity Markets and Sustainability by : François Lévêque

Download or read book Competitive Electricity Markets and Sustainability written by François Lévêque and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book responds to the opening up of electricity markets to competition, which has completely changed the nature of power generation. The building of new generation and transmission capacity and the setting of the energy mix between nuclear, gas and renewable resources are mainly left to private initiative and investors. The authors and the editor of this book explore whether or not market forces offer a sustainable future for electricity generation. They employ economic theory and method to answer questions such as: Will the market be able to ensure adequacy of generation capacity and secu.

Merchant Transmission Investment

Author : Paul L. Joskow
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Merchant Transmission Investment by : Paul L. Joskow

Download or read book Merchant Transmission Investment written by Paul L. Joskow and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the performance attributes of a merchant transmission investment framework that relies on 'market driven' investment to increase transmission network capacity needed to support competitive wholesale markets for electricity. Under a stringent set of assumptions, the merchant investment model has a remarkable set of attributes that appears to solve the natural monopoly problem and the associated need for regulating electric transmission companies. We expand the merchant model to incorporate several attributes of wholesale power markets and transmission networks that the merchant model ignores. These include market power in wholesale electricity markets, lumpiness in transmission investment opportunities, stochastic attributes of transmission networks and associated property rights definition issues, strategic behavior by potential merchant transmission investors and issues related to the coordination of transmission system operators and merchant transmission owners. Incorporating these more realistic attributes of transmission networks and the behavior of transmission owners and system operators leads to the conclusion that several potentially significant inefficiencies may result from reliance on the merchant transmission investment framework. Accordingly, it is inappropriate for policymakers to assume that they can avoid dealing with the many challenges associated with stimulating efficient levels of investment in electric transmission networks by adopting the merchant model.

Regulation of the Power Sector

Author : Ignacio J. Pérez-Arriaga
Publisher : Springer Science & Business Media
ISBN 13 : 1447150341
Total Pages : 735 pages
Book Rating : 4.4/5 (471 download)

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Book Synopsis Regulation of the Power Sector by : Ignacio J. Pérez-Arriaga

Download or read book Regulation of the Power Sector written by Ignacio J. Pérez-Arriaga and published by Springer Science & Business Media. This book was released on 2014-02-26 with total page 735 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation of the Power Sector is a unified, consistent and comprehensive treatment of the theories and practicalities of regulation in modern power-supply systems. The need for generation to occur at the time of use occasioned by the impracticality of large-scale electricity storage coupled with constant and often unpredictable changes in demand make electricity-supply systems large, dynamic and complex and their regulation a daunting task. Arranged in four parts, this book addresses both traditional regulatory frameworks and also liberalized and re-regulated environments. First, an introduction gives a full characterization of power supply including engineering, economic and regulatory viewpoints. The second part presents the fundamentals of regulation and the third looks at the regulation of particular components of the power sector in detail. Advanced topics and subjects still open or subject to dispute form the content of Part IV. In a sector where regulatory design is the key driver of both the industry efficiency and the returns on investment, Regulation of the Power Sector is directed at regulators, policy decision makers, business managers and researchers. It is a pragmatic text, well-tested by the authors’ quarter-century of experience of power systems from around the world. Power system professionals and students at all levels will derive much benefit from the authors’ wealth of blended theory and real-world-derived know-how.

Multi-dimensional Risk and Investment Return in the Energy Sector

Author : Peter Rabensteiner
Publisher : Haupt Verlag AG
ISBN 13 : 325807805X
Total Pages : 194 pages
Book Rating : 4.2/5 (58 download)

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Book Synopsis Multi-dimensional Risk and Investment Return in the Energy Sector by : Peter Rabensteiner

Download or read book Multi-dimensional Risk and Investment Return in the Energy Sector written by Peter Rabensteiner and published by Haupt Verlag AG. This book was released on 2013 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die vorliegende Dissertation untersucht die kapitalbezogenen Aspekte von Investitionen im regulierten Energiesektor, wobei der Fokus auf dem elektrischen Übertragungsnetz liegt. Eine grundlegende Prämisse ist hierbei die "Endogenität des Risikos," wonach das Risikoprofil einer regulierten Investition von den Spezifikationen des regulatorischen Marktdesigns abhängt, durch welches stochastische Kosten und Einnahmen unter den beteiligten Stakeholdern - den Investoren, Konsumenten und Steuerzahlern - aufgeteilt werden. Das übergreifende Konzept ist ein multidimensionales regulatorisches Risiko-Framework, welches eine systematische Beurteilung des Einflusses von stochastischen Risiken auf den Marktwert und Cashflow von regulierten Unternehmen ermöglicht. Gemäss den Dimensionen des Risiko-Frameworks werden die einzelnen Risiken nach ihren systematischen und symmetrischen Eigenschaften sowie nach deren finanziellen Auswirkungen auf das regulierte Unternehmen charakterisiert. Auf Grundlage der konzeptionellen Aufarbeitung und einer umfassenden bibliografischen Übersicht über die vorhandene wissenschaftliche Literatur werden neue Forschungsansätze entwickelt, welche sich mit den identifizierten analytischen und empirischen Forschungslücken befassen: Erstens erlaubt eine kapitalmarktbasierte Kennzahl für das implizierte systematische Risiko, welches auf Basis fundamentaler Bewertungsmodelle und Marktpreise errechnet werden kann, eine robuste Schätzung der Kapitalkosten von börsennotierten Übertragungsfirmen. Eine auf diesem Ansatz beruhende Anpassung der erlaubten Rendite könnte ein wertvolles selbstkorrigierendes Instrumentarium für Regulatoren darstellen. Zweitens ergibt die Analyse einer hypothetischen grenzüberschreitenden Übertragungsleitung zwischen Polen und Österreich, welche aufgrund stündlicher Spotpreise an den jeweiligen Strombörsen durchgeführt wurde, eine Schätzung des systematischen Risikos nahe Nul.