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| Author: | Webb, M. G. Elwan, I. I. Maistre, L. |
| Title: | Some investment aspects of non-oil spot pricing. |
| Journal: | Energy Policy
1988 : AUG, VOL. 16:4, p. 348-352 |
| Index terms: | PRICE POLICY ENERGY INVESTMENT |
| Language: | eng |
| Abstract: | Setting energy prices when demand is known, i.e. spot pricing, has a number of advantages partly by changing the form of investment decisions from the individual electricity utility to the set of all potential suppliers of electricity. In that context investment aspects of spot pricing for non-storable products are concentrated on, taking the case of electricity, and with a major objective of arguing that resource cost savings which may appear to be due to spot pricing are, in fact, due to the removal of institutional and other constraints on the optimal development and least-cost operation of the power subsector. The benefits associated with the removal of constraints can be captured independently of decisions regarding spot pricing. |
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