TY  - JOUR
AU  - Marrero, G.A.
AU  - Puch, L.A.
AU  - Ramos-Real, F.J.
T1  - Mean-variance portfolio methods for energy policy risk management
LA  - eng
PY  - 2015
SP  - 246
EP  - 264
T2  - International Review of Economics and Finance
SN  - 1059-0560
VL  - 40
PB  - Elsevier Inc.
AB  - The risks associated with current and prospective costs of different energy technologies are crucial in assessing the efficiency of the energy mix. However, energy policy typically relies on the evolution of average costs, neglecting the covariances in the costs of the different energy technologies in the mix. The Mean-Variance Portfolio Theory is implemented to evaluate jointly the average costs and the associated volatility of alternative energy combinations. In addition systematic and non-systematic risks associated to the energy technologies are computed based on a Capital Asset Pricing Model and considering time varying betas. It is shown that both electricity generation and fuel use imply risks that are idiosyncratic and with relevant implications for energy and environmental policy.
DO  - 10.1016/J.IREF.2015.02.013
UR  - https://portalciencia.ull.es/documentos/5df8a87e2999525886b70743
DP  - Dialnet - Portal de la Investigación
ER  -