Matches in SemOpenAlex for { <https://semopenalex.org/work/W4386913029> ?p ?o ?g. }
- W4386913029 endingPage "121938" @default.
- W4386913029 startingPage "121938" @default.
- W4386913029 abstract "Zero‑carbon electricity is a pre-requisite for decarbonisation of the wider economy and many scenarios envisage rapid expansion of renewables. IEA estimates a need to double the annual rate of investment to 2030. A rapid transition to low carbon electricity creates a risk to investors because projects being financed now will generate their revenue in a zero‑carbon electricity system for which there is no track record of price formation. Although the cost of renewable power has fallen greatly, future revenues from renewables are still affected by market price risks that are often outside the control of generators. If risks are difficult to quantify, they may be mis-priced, leading to inefficient premiums being added to the cost of capital, which could increase the overall cost of the transition. In this context many countries around the world provide support for low carbon energy, such as the UK Contracts for Difference. In this paper we investigate exposure to price risk caused by uncertainty over the mix of technologies used to achieve decarbonisation, which we term ‘transition risk’, and how this varies under different technology mixes, and for different policy regimes. We show that exposing investors to transition risk could increase the cost of delivering the renewables needed for a zero‑carbon electricity system by around 25% or £7bn/year compared to policy options that reduce exposure to wholesale market price risk. The paper concludes that as long as transition risks remain high, de-risking policy mechanisms can help to minimise the overall cost of achieving net-zero." @default.
- W4386913029 created "2023-09-22" @default.
- W4386913029 creator A5011775692 @default.
- W4386913029 creator A5032952449 @default.
- W4386913029 creator A5050153115 @default.
- W4386913029 creator A5063609144 @default.
- W4386913029 creator A5076525366 @default.
- W4386913029 date "2023-12-01" @default.
- W4386913029 modified "2023-10-16" @default.
- W4386913029 title "Transition risk: Investment signals in a decarbonising electricity system" @default.
- W4386913029 cites W2011669322 @default.
- W4386913029 cites W2068558806 @default.
- W4386913029 cites W2515518038 @default.
- W4386913029 cites W2912300636 @default.
- W4386913029 cites W3044879886 @default.
- W4386913029 cites W3126783532 @default.
- W4386913029 doi "https://doi.org/10.1016/j.apenergy.2023.121938" @default.
- W4386913029 hasPublicationYear "2023" @default.
- W4386913029 type Work @default.
- W4386913029 citedByCount "0" @default.
- W4386913029 crossrefType "journal-article" @default.
- W4386913029 hasAuthorship W4386913029A5011775692 @default.
- W4386913029 hasAuthorship W4386913029A5032952449 @default.
- W4386913029 hasAuthorship W4386913029A5050153115 @default.
- W4386913029 hasAuthorship W4386913029A5063609144 @default.
- W4386913029 hasAuthorship W4386913029A5076525366 @default.
- W4386913029 hasConcept C10138342 @default.
- W4386913029 hasConcept C119599485 @default.
- W4386913029 hasConcept C121332964 @default.
- W4386913029 hasConcept C127413603 @default.
- W4386913029 hasConcept C132651083 @default.
- W4386913029 hasConcept C134560507 @default.
- W4386913029 hasConcept C142724271 @default.
- W4386913029 hasConcept C144133560 @default.
- W4386913029 hasConcept C146733006 @default.
- W4386913029 hasConcept C151730666 @default.
- W4386913029 hasConcept C162324750 @default.
- W4386913029 hasConcept C163258240 @default.
- W4386913029 hasConcept C175605778 @default.
- W4386913029 hasConcept C17744445 @default.
- W4386913029 hasConcept C188573790 @default.
- W4386913029 hasConcept C18903297 @default.
- W4386913029 hasConcept C195487862 @default.
- W4386913029 hasConcept C199539241 @default.
- W4386913029 hasConcept C204787440 @default.
- W4386913029 hasConcept C206658404 @default.
- W4386913029 hasConcept C26993612 @default.
- W4386913029 hasConcept C27548731 @default.
- W4386913029 hasConcept C2777890234 @default.
- W4386913029 hasConcept C2779200991 @default.
- W4386913029 hasConcept C2779343474 @default.
- W4386913029 hasConcept C423512 @default.
- W4386913029 hasConcept C62520636 @default.
- W4386913029 hasConcept C71924100 @default.
- W4386913029 hasConcept C86803240 @default.
- W4386913029 hasConcept C94625758 @default.
- W4386913029 hasConceptScore W4386913029C10138342 @default.
- W4386913029 hasConceptScore W4386913029C119599485 @default.
- W4386913029 hasConceptScore W4386913029C121332964 @default.
- W4386913029 hasConceptScore W4386913029C127413603 @default.
- W4386913029 hasConceptScore W4386913029C132651083 @default.
- W4386913029 hasConceptScore W4386913029C134560507 @default.
- W4386913029 hasConceptScore W4386913029C142724271 @default.
- W4386913029 hasConceptScore W4386913029C144133560 @default.
- W4386913029 hasConceptScore W4386913029C146733006 @default.
- W4386913029 hasConceptScore W4386913029C151730666 @default.
- W4386913029 hasConceptScore W4386913029C162324750 @default.
- W4386913029 hasConceptScore W4386913029C163258240 @default.
- W4386913029 hasConceptScore W4386913029C175605778 @default.
- W4386913029 hasConceptScore W4386913029C17744445 @default.
- W4386913029 hasConceptScore W4386913029C188573790 @default.
- W4386913029 hasConceptScore W4386913029C18903297 @default.
- W4386913029 hasConceptScore W4386913029C195487862 @default.
- W4386913029 hasConceptScore W4386913029C199539241 @default.
- W4386913029 hasConceptScore W4386913029C204787440 @default.
- W4386913029 hasConceptScore W4386913029C206658404 @default.
- W4386913029 hasConceptScore W4386913029C26993612 @default.
- W4386913029 hasConceptScore W4386913029C27548731 @default.
- W4386913029 hasConceptScore W4386913029C2777890234 @default.
- W4386913029 hasConceptScore W4386913029C2779200991 @default.
- W4386913029 hasConceptScore W4386913029C2779343474 @default.
- W4386913029 hasConceptScore W4386913029C423512 @default.
- W4386913029 hasConceptScore W4386913029C62520636 @default.
- W4386913029 hasConceptScore W4386913029C71924100 @default.
- W4386913029 hasConceptScore W4386913029C86803240 @default.
- W4386913029 hasConceptScore W4386913029C94625758 @default.
- W4386913029 hasLocation W43869130291 @default.
- W4386913029 hasOpenAccess W4386913029 @default.
- W4386913029 hasPrimaryLocation W43869130291 @default.
- W4386913029 hasRelatedWork W1518088800 @default.
- W4386913029 hasRelatedWork W1971975938 @default.
- W4386913029 hasRelatedWork W1988825274 @default.
- W4386913029 hasRelatedWork W2160802929 @default.
- W4386913029 hasRelatedWork W2161269787 @default.
- W4386913029 hasRelatedWork W2169037926 @default.
- W4386913029 hasRelatedWork W2184046939 @default.
- W4386913029 hasRelatedWork W3122446316 @default.
- W4386913029 hasRelatedWork W3124908562 @default.