The economics of gasification: A market-based approach

Energies

Volumn 2, Issue 3, 2009, Pages 662-694

  Abadie, Luis M ^a   Chamorro, José M ^b  

^a Bilbao Bizkaia Kutxa   (Spain)

^b UNIVERSITY OF THE BASQUE COUNTRY UPV EHU   (Spain)

Author keywords

Emission allowances; Flexibility; Fossil fuels; Futures markets; Gasification; IGCC; Real options; Stochastic processes

Indexed keywords

CARBON; COMBINED CYCLE POWER PLANTS; COMMERCE; COSTS; ECONOMICS; ENERGY EFFICIENCY; FOSSIL FUELS; GASIFICATION; RANDOM PROCESSES; STOCHASTIC SYSTEMS;

EMISSION ALLOWANCES; ENVIRONMENTAL ISSUES; FLEXIBILITY; IGCC; MARKET-BASED APPROACH; REAL OPTIONS; REAL OPTIONS APPROACH; UTILITY PERFORMANCE;

FINANCIAL MARKETS;

EID: 70349513251     PISSN: None     EISSN: 19961073     Source Type: Journal    
DOI: 10.3390/en20300662     Document Type: Article

References (26)

1. Gasification: Redefining clean energy; Gasification Technologies Council: Arlington, VA, USA, 2008. Available online: http://www.gasification.org (accessed August 21, 2009).
2. Trigeorgis, L. Real Options - Managerial Flexibility and Strategy in Resource Allocation; The MIT Press: Cambridge, MA, USA, 1996.
3. Dixit, A.K.; Pindyck, R.S. Investment under uncertainty. Princeton University Press: Princeton, NJ, USA, 1994.
4. Sick, G. Real Options. In Handbooks in Operations Research and Management Science; Jarrow, R., Ed.; Elsevier Science, 1995, 9, 631-691.
5. Ronn, E.I. Real Options and Energy Management; Risk Books: London, UK, 2002.
6. Abadie,M.; Chamorro, J.M. Valuing flexibility: The case of an integrated gasification combined cycle power plant. Energ. Econ. 2008, 30, 1850-1881.
7. Holt, N. Gasification process selection: Trade-offs and ironies. Proceeding of the Gasification Technologies Conference, Washington, DC, USA, 2004.
8. Franco, A.; Diaz, A.R. The future challenges for "clean coal technologies": Joining efficiency increase and pollutant emission control. Energy 2009, 34, 348-354.
9. British Petroleum. Statiscal review of world energy 2009. Available online: http://www.bp.com (accessed August 21, 2009).
10. World Energy Outlook 2007; International Energy Association: Paris, France
11. International energy outlook; Energy Information Administration, U.S. DoE: Washington, DC, USA, 2009.
12. 2 control technology effects on IGCC plant performance and cost. Energ. Policy 2009, 37, 915-924.
13. Graus,W.;Worrell, E. Trend in efficiency and capacity of fossil power generation in the EU. Energ. Policy 2009, 37, 2147-2160.
14. Guidelines for National Greenhouse Gases Inventory; IPCC: Geneva, Switzerland, 2006
15. EU action against climate change: Leading global action to 2020 and beyond; European Commission: Brussels, Belgium, 2008
16. Insley, M.C. On the option to invest in pollution control under a regime of tradable emissions allowances. Can. J. Econ. 2003, 36, 860-883.
17. Booras, G.; Holt, N. Pulverized coal and IGCC plant cost and performance estimates. Proceedings of Gasification Technology Conference, Washington, DC, USA, October 2004.
18. Herzog, H.; Golomb, D. Carbon Capture and Storage from Fossil Fuel Use. In Encyclopedia of Energy; Elsevier Science Inc.: New York, NY, USA, 2004; pp. 277-287.
19. Winters, T. Should the U.S. coal option be preserved? IAEE Newsletter, 2008, First Quarter, 13-16.
20. Houthakker, H.S. Futures Trading. In The New Palgrave: Finance; Eatwell, J., Milgate, M., Newman, P., Eds.; The Macmillan Press Ltd.: New York, NY, USA, 1989; pp. 153-158.
21. Khadse, A.; Qayyumi, M.; Mahajani, S.; Aghalayam, P. Underground coal gasification: A new clean coal utilization technique for India. Energy 2007, 32, 2061-2071.
22. Rardin, R.; Yu, Z.; Holland, F.; Oberbeck, J. Factors that affect the design and implementation of clean coal technologies in Indiana; Purdue University: West Lafayette, IN, USA, 2005. Available online: http://www.purdue.edu/dp/energy/pdf/Purdue-FinalReport-2005.pdf (accessed August 21, 2009).
23. Rao, A.D. Integrated Gasification Combined Cycle (IGCC): Coal and biomass-based. In Encyclopedia of Energy Engineering and Technology; Capehart, B.L., Ed.; Taylor & FrancisGroup, LLC, Lilburn, GA, USA, 2007; pp. 906-913.
24. Parker, G. Coal-to-Liquid Fuels. In Encyclopedia of Energy Engineering and Technology; Capehart, B.L., Ed.; Taylor & Francis Group, LLC: Lilburn, GA, USA, 2007; pp. 163-171.
25. Cortazar, G.; Milla, C.; Severino, F. A multicommodity model of futures prices: Using futures prices of one commodity to estimate the stochastic process of another. J. Futures Markets 2008, 28, 537-560.
26. 2 prices and carbon capture investments. Energ. Econ. 2008, 30, 2992-3015.