Risk and Flexibility in Electricity

Anne Ku works as a writer, covering energy topics as an independent critic. Previously, she has been the editor of Platt's Global Energy Business and Energy IT (bi-monthly magazines covering the areas of energy trading, risk management and technology) and has worked for the Union Bank of Switzerland and several management consulting firms in London and Singapore. Anne wrote her doctoral thesis on modelling uncertainty in the electricity industry and tested her hypothesis of 'flexibility as a means to cope with uncertainty' by working for Enron in Houston and London in electricity and natural gas research and modelling. Anne holds a PhD in decision sciences from London Business School (1995), a Bachelor's degree in electrical engineering from Duke University and a Master's in operational research from London School of Economics.

1. The Supply or Value Chain: Fuel, Generation, Transmission, Distribution and Supply, Anne Ku;Physical Processes Redefined by Risk and Flexibility;Decision Makers Redefined;Contracts; Impact of Deregulation. 2. Fuel: Trading and Procurement, Pushkar Wagle; Cross-commodity trading; Oil; Natural gas; Coal;Nuclear. 3. Renewables and Intermittent Energy Sources and Environment, Andrew Miller:Hydro; Renewables. 4. Generation - Assets, Jim Christian: Asset Valuation; Asset optimisation; Portfolio optimisation. 5. Generation - Forecasting and Other Analytical Tools, Fereidoon Sioshansi, Prices: Forecasting vs. Forward Curves;Supply Forecasting; Demand Forecasting; Simulation, Scenario Analysis. 6. Transmission and Ancillary Services and Transmission Markets, Andrew Miller;Transmission Pricing;Basis hedge; delivery risk. 7. Retail Power Contracts, Lance Hinrichs: Deal Structuring; Risks; Decision Making. 8. Exotic Options and Flexibility, Alexander Eydeland, and Krzysztof Wolyniec; Options Defined; Determinants or Attributes of Exoticity Examples; 9. Regulation and Deregulation Risks, Isaac Dyner , Erik LarseN System Dynamics as a Modelling Tool; Timing Risk