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Winterizing power plants pays off for risk-neutral investors in Texas

Author

Listed:
  • Katharina Gruber

    (University of Natural Resources and Life Sciences)

  • Tobias Gauster

    (University of Natural Resources and Life Sciences)

  • Gregor Laaha

    (University of Natural Resources and Life Sciences)

  • Peter Regner

    (University of Natural Resources and Life Sciences)

  • Johannes Schmidt

    (University of Natural Resources and Life Sciences)

Abstract

Considering the probability of occurrence of an extreme cold event similar to that in February 2021, winterization of the Texan power system pays off for risk-neutral utilities in the medium term. Risk aversion can cause under-investment, and policymakers should therefore take into account extreme event risks in decision-making and implement measures that increase winterization efforts.

Suggested Citation

  • Katharina Gruber & Tobias Gauster & Gregor Laaha & Peter Regner & Johannes Schmidt, 2022. "Winterizing power plants pays off for risk-neutral investors in Texas," Nature Energy, Nature, vol. 7(5), pages 398-399, May.
    • Handle: RePEc:nat:natene:v:7:y:2022:i:5:d:10.1038_s41560-022-01031-8
    DOI: 10.1038/s41560-022-01031-8
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