re : informs abstract ( fwd ) shijie ,
additional changes .
abstract :
the power market developments in the us have created several unique
challenges for energy industry economists . we discuss the major factors
underlying
the exceptionally high volatility of electricity prices . we feel that some of
them may reflect the flaws in power pools design and incomplete transition to
fully deregulated markets in
generation and transmission .
the title is fine .
vince
shijie deng on 10 / 01 / 2000 07 : 47 : 53 pm
to : vkamins @ enron . com
cc :
subject : re : informs abstract ( fwd )
- - - - - - - - - - forwarded message - - - - - - - - - -
date : sun , 1 oct 2000 14 : 29 : 20 - 0400 ( edt )
from : shijie deng
to : vkaminski @ aol . com
cc : shijie deng
subject : re : informs abstract
vince ,
thanks for the abstract ! for the purpose of the conference program
listing , the conference organizers need a title and an abstract which is
longer than 50 words . based on the abstract that you sent me , i took the
liberty to make up a title and the 50 - word abstract ( attached below ) .
please make changes as you feel necessary and send them back to me . i ' ll
send them out to the organizers once i get your confirmation on this .
best ,
shijie
title : current challenges in modeling power price volatility
author : dr . vince kaminski , head of quantitative research , enron capital &
trade resources
abstract :
the power market developments in the us have created several unique
challenges for energy industry economists . we discuss the major factors
underlying
the exceptionally high volatility of electricity prices . we feel that some of
them may be a necessary price to pay for increased market efficiency and
expanded customer choice .
shi - jie deng
assistant professor
school of isye
georgia institute of technology
office phone : ( 404 ) 894 - 6519
e - mail : deng @ isye . gatech . edu
home page : http : / / www . isye . gatech . edu / ~ deng
on sun , 1 oct 2000 vkaminski @ aol . com wrote :
> shijie ,
>
> i am sending you the abstract for my informs presentation .
>
> vince
>
>
> * * * * *
>
>
> the last three years were characterized by exceptionally high volatility of
> the power prices in the us markets . the market developments have created a
> number of unique challenges for energy industry economists . one immediate
> question we have to answer is how to measure volatility of energy prices .
> although we can all agree that the prices in the power markets are
> characterized by high variability , the traditional measures used in
financial
> economics ( annualized standard deviation of log price returns ) may not fit
> well electricity prices . the second challenge is to explain the sources of
> high price volatility and to answer the question to what extent it can be
> attributed to problems that can be addressed in the long run . such problems
> include flaws in market design that allow some market participants to abuse
> market power , limited availability and / or unequal access to transmission ,
> temporary shortages of generation capacity . some factors underlying high
> volatility of electricity prices may be of permanent nature and may be a
> necessary price to pay for increased market efficiency and expanded customer
> choice .
>
re : informs abstract ( fwd )
shijie ,
additional changes .
abstract :
the power market developments in the us have created several unique
challenges for energy industry economists . we discuss the major factors
underlying
the exceptionally high volatility of electricity prices . we feel that some of
them may reflect the flaws in power pools design and incomplete transition to
fully deregulated markets in
generation and transmission .
the title is fine .
vince
shijie deng on 10 / 01 / 2000 07 : 47 : 53 pm
to : vkamins @ enron . com
cc :
subject : re : informs abstract ( fwd )
- - - - - - - - - - forwarded message - - - - - - - - - -
date : sun , 1 oct 2000 14 : 29 : 20 - 0400 ( edt )
from : shijie deng
to : vkaminski @ aol . com
cc : shijie deng
subject : re : informs abstract
vince ,
thanks for the abstract ! for the purpose of the conference program
listing , the conference organizers need a title and an abstract which is
longer than 50 words . based on the abstract that you sent me , i took the
liberty to make up a title and the 50 - word abstract ( attached below ) .
please make changes as you feel necessary and send them back to me . i ' ll
send them out to the organizers once i get your confirmation on this .
best ,
shijie
title : current challenges in modeling power price volatility
author : dr . vince kaminski , head of quantitative research , enron capital &
trade resources
abstract :
the power market developments in the us have created several unique
challenges for energy industry economists . we discuss the major factors
underlying
the exceptionally high volatility of electricity prices . we feel that some of
them may be a necessary price to pay for increased market efficiency and
expanded customer choice .
shi - jie deng
assistant professor
school of isye
georgia institute of technology
office phone : ( 404 ) 894 - 6519
e - mail : deng @ isye . gatech . edu
home page : http : / / www . isye . gatech . edu / ~ deng
on sun , 1 oct 2000 vkaminski @ aol . com wrote :
> shijie ,
>
> i am sending you the abstract for my informs presentation .
>
> vince
>
>
> * * * * *
>
>
> the last three years were characterized by exceptionally high volatility of
> the power prices in the us markets . the market developments have created a
> number of unique challenges for energy industry economists . one immediate
> question we have to answer is how to measure volatility of energy prices .
> although we can all agree that the prices in the power markets are
> characterized by high variability , the traditional measures used in
financial
> economics ( annualized standard deviation of log price returns ) may not fit
> well electricity prices . the second challenge is to explain the sources of
> high price volatility and to answer the question to what extent it can be
> attributed to problems that can be addressed in the long run . such problems
> include flaws in market design that allow some market participants to abuse
> market power , limited availability and / or unequal access to transmission ,
> temporary shortages of generation capacity . some factors underlying high
> volatility of electricity prices may be of permanent nature and may be a
> necessary price to pay for increased market efficiency and expanded customer
> choice .
>