Pollutant versus not pollutant generation technologies: A CML-analogous analysis

• Tipo: Artigo em Livro de Atas de Conferência Internacional
• Data: 2017

Autores

Martinez Fernandez, P (Autor) Outra; deLlano Paz, F (Autor) Outra; Calvo Silvosa, A (Autor) Outra; Soares, I (Autor) FEP

Ata de Conferência Internacional

Título: PROCEEDINGS OF THE 3RD INTERNATIONAL CONFERENCE ON ENERGY AND ENVIRONMENT (ICEE 2017)

Páginas: 468-474

3rd Internacional Conference on Energy and Environment (ICEE) - Bringing Together Economics and Engineering

Porto, PORTUGAL, JUN 29-30, 2017

Indexação

ISI Web of Knowledge - 0 Citações

Outras Informações

ID Authenticus: P-00P-QK8

Abstract (EN): In this work we apply the Modern Portfolio Theory (MPT) and the Capital Assets Pricing Model (CAPM) to a CO2 emitting generation technologies portfolio under diverse scenarios. We will build the efficient in the sense of minimum risk for a given level of emissions-portfolios frontier. The Capital Market Line (CML) is the place where all the possible combinations of a specific efficient portfolio and a pollution-free portfolio -made up with nuclear and renewable generation technologies-lie. In Finance, that specific efficient portfolio is called the market portfolio but we will see that in our case it lacks an evident meaning like in Finance. So we will explain which should be the reference portfolio for power generation planning analysis. Anyway, the fact is that those combinations are less pollutant than the portfolios in the efficient frontier. Thus, a policy-maker can analyse which is their effect on emissions reduction. We will start analysing the efficient pollutant generation portfolios. Then we will introduce the CML-analogous line to allow the possibility of reducing emissions by combining an efficient portfolio with a non-pollutant portfolio -emissions-free and risk-free-.

Idioma: Inglês

Tipo (Avaliação Docente): Científica

Nº de páginas: 7