Power Generation Investment in Electricity Markets, Page 887
International Energy Agency/Organisation for Economic Co-operation and Development, Jan 1, 2003 - Business & Economics - 99 pages
Most IEA countries are liberalising their electricity markets, shifting the responsibility for financing new power generation investment to private investors. No longer able to automatically pass on costs to consumers, and with future prices of electricity uncertain, investors face a much riskier environment for investment in electricity infrastructure. While capital and total cost parameters still influence investment choices, technologies which can be installed quickly and operated flexibly, are increasingly appreciated. Investors are also managing risk by greater use of contracting, by acquiring retail businesses, and through mergers with natural gas suppliers. Liberalisation was supposed to limit government intervention in the electricity market, but volatile electricity prices have put pressure on governments to intervene and limit prices. Case studies of volatile prices in IEA countries' electricity markets are included in this report.
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