Abstract
This paper analyzes past and future values of the Spark Spread in Italy, showing how power generation assets can be evaluated using a Spark Spread option model. Variable costs and the organization of the electricity pool is discussed and, through an option-based simulation model, price volatility and power generation assets values are calculated, comparing the results against the traditional discounted cash flow methodology (DCF).La versione in lingua italiano di questo paper si trova in http://ssrn.com/abstract=2028944
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