EYDELAND AND WOLYNIEC PDF

Price spikes will trigger howls of outrage from customers, often with the attendant political fallout. If there is one thing that customers and regulators do not like, it is nasty surprises on the gas or electric bill. To keep those surprises to a minimum, utilities have available a wide range of hedging instruments and strategies — either on established commodity exchanges or through over-the-counter markets — to assist with their management of physical supply. Gas utilities also employ hedging strategies to smooth out their exposure to changing prices. Hedging is a means of price protection.

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In Energy and Power Risk Management, experts Alexander Eydeland and Krzysztof Wolyniec unveil the latest developments in modeling, pricing, and hedging within the energy and power markets, so you can begin to successfully assess and manage the risks of the complex derivative structures that are part of your portfolio. Energy and Power Risk Management opens with a brief introduction to the energy market, describing everything from oil and gas to electricity and emissions. After laying down a solid foundation, Energy and Power Risk Management moves on to explore the pricing and hedging models appropriate for these markets.

Topics include: Reduced-form price models, including mean-reverting and jump-diffusion processes Forward price processes-with an introduction to models describing the forward curve evolution, such as HJM, BGM, and string models The use and misuse of correlations A hybrid model for power prices This unique resource also provides you with a valuable overview of the valuation and hedging of power, natural gas and oil derivatives and assets swing options, storage, transportation, transmission, demand-management deals , as well as cross-commodity products power plants, weather-contingent structures.

It also offers a systematic analysis of general issues of risk-adjustment, risk-measurement, and hedging. Even with all the current information available, it is still difficult to find a detailed analysis of practical issues regarding modeling, pricing, and hedging of energy derivatives.

With Energy and Power Risk Management as your guide, you can manage the inherent risks of these markets while optimizing your performance in them. Back cover copy Praise for Energy and Power Risk Management "Energy and Power Risk Management identifies and addresses the key issues in the development of the turbulent energy industry and the challenges it poses to market players.

An insightful and far-reaching book written by two renowned professionals. An absolute imperative for energy traders and energy risk management professionals. It is a must-read for anyone in energy risk management or asset valuation.

Chapter 1. Chapter 2. Basic Products and Structures. Chapter 3. Chapter 4. Reduced-form Processes. Chapter 5. Forward Price Processes. Chapter 6. Chapter 7. Hybrid Process for Power Prices. Chapter 8. Structured Products: Fuels and Other Commodities. Chapter 9. Power Plants and Other Cross-commodity Derivatives. Chapter Risk Management. He leads research efforts in developing models and strategies to support marketing, trading, and risk management, and in designing systems for evaluation, optimization, and management of energy assets.

He is responsible for modeling power and fuel markets as well as developing hedging and trading strategies around physical power and fuel assets.

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EYDELAND AND WOLYNIEC PDF

About this title Praise for Energy and Power Risk Management "Energy and Power Risk Management identifies and addresses the key issues in the development of the turbulent energy industry and the challenges it poses to market players. An insightful and far-reaching book written by two renowned professionals. An absolute imperative for energy traders and energy risk management professionals. It is a must-read for anyone in energy risk management or asset valuation. In Energy and Power Risk Management, experts Alexander Eydeland and Krzysztof Wolyniec unveil the latest developments in modeling, pricing, and hedging within the energy and power markets, so you can begin to successfully assess and manage the risks of the complex derivative structures that are part of your portfolio. Energy and Power Risk Management opens with a brief introduction to the energy market, describing everything from oil and gas to electricity and emissions.

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ISBN 13: 9780471104001

Visit our Beautiful Books page and find lovely books for kids, photography lovers and more. Read an Eyveland Excerpt 1: He is responsible for modeling power and fuel markets as well as developing hedging and trading strategies around physical power and fuel assets. Hybrid Process for Power Prices. This fully revised and updated Second Edition provides significantly more coverage of the oil and oil product markets as well as commodity-linked fixed-income products, and also reviews the impact eydfland developments in modeling and model estimation have made within this industry over the last few years. Optimization of Operations of Physical Assets. Description Tools and methods for analysis and management of energy risk Energy and Power Risk Management, Second Edition addresses the ejdeland issues and challenges arising in the expanding market for energy derivatives, providing you with insight into modeling, hedging, and risk management techniques utilized in the energy markets.

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Energy and Power Risk Management: New Developments in Modeling, Pricing, and Hedging / Edition 1

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