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Investing in Power Generation

In: Handbook Utility Management

Author

Listed:
  • Reinhard Madlener

    (RWTH Aachen University)

  • Rik W. Doncker

    (Faculty of Electrical Engineering and Information Technology at the RWTH Aachen University)

Abstract

In light of considerable political and market risk emanating from energy market liberalization, global warming, and rapid technological change, adequate investment in power generation capacity is of paramount importance for ensuring the security of electricity supply and a smooth transition to a more decentralized, energy-efficient and renewable energy system. Consequently, investors have to use more sophisticated approaches to determine optimal investment levels and technology choices than in regulated markets. In this chapter, we provide a discussion of relevant topics and issues in this context and some of the key literature. We also discuss the expected paradigm shift from centralized to more decentralized electricity generation, and the possible (re-)emergence of direct current grids, in light of the history of electrical engineering. Both phenomena, once manifested, would radically reshape the electricity system, with potentially severe economic consequences for existing real assets and new challenges for investment decision-makers, technical system operators, policy-makers, and regulatory bodies alike.

Suggested Citation

  • Reinhard Madlener & Rik W. Doncker, 2008. "Investing in Power Generation," Springer Books, in: Andreas Bausch & Burkhard Schwenker (ed.), Handbook Utility Management, chapter 17, pages 281-310, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79349-6_17
    DOI: 10.1007/978-3-540-79349-6_17
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