"Application of Real Option Analysis on Project Valuation in Energy Sector" . "Application of Real Option Analysis on Project Valuation in Energy Sector" . "1-18" . "Application of Real Option Analysis on Project Valuation in Energy Sector"@en . "2005-06-27+02:00"^^ . "Application of Real Option Analysis on Project Valuation in Energy Sector"@en . "Global Finance Conference 2005" . "0-9768149-5-1" . . . . . . . . "512868" . "18"^^ . "Dublin" . . . . . "Dluho\u0161ov\u00E1, Dana" . . "27510" . "Aplikace anal\u00FDzy re\u00E1ln\u00FDch opc\u00ED p\u0159i ocen\u011Bn\u00ED projektu v odv\u011Btv\u00ED energetiky"@cs . . "Real option; option to temporarily shut down; intrinsic value; corporate investment; binomial model; risk-neutral probability; decision function."@en . "Trinity college" . "Electricity supply has been regarded for many years as a sector which was best run as a monopoly and in most cases as a state-owned monopoly. If private utilities have been allowed, they were tightly regulated. Over the last ten years, this view of electricity markets has changed and in most countries the electricity supply industry has undergone some reform. Electricity market liberalisation process usually leads to the increase in uncertainty. Originally, under the monopoly situation (only one company on the market), the only uncertainty were considered in fuel prices and electricity demand. After the liberalisation process, companies producing electricity face other market risks (electricity prices, competitive companies). Moreover, both under monopoly situation and on liberalised markets, electricity suppliers face legal risks (legal environmental controlling, etc.).The objective of this paper is to solve a problem if complete or abandon the nuclear power plant (NPP) in Temel\u00EDn, Czech Republic in" . "\u010Cul\u00EDk, Miroslav" . "[6D909BB28194]" . . . "P(GA402/04/1357)" . "RIV/61989100:27510/05:00012365" . . "V\u00FDroba elekt\u0159iny a jej\u00ED distribuce byla po mnoho let pova\u017Eov\u00E1na za monopoln\u00ED dominantu st\u00E1tu a byla striktn\u011B regulovan\u00E1. Posledn\u00ED doba je charakteristick\u00E1 procesem postupn\u00E9 liberalizace tohoto segmentu. Tato tendence je tak\u00E9 patrn\u00E1 v p\u0159\u00EDpad\u011B \u010Cesk\u00E9 republiky, stejn\u011B jako proces postupn\u00E9 restrukturalizace a p\u0159echodu k tr\u017En\u00ED ekonomice. Tyto zm\u011Bny zp\u016Fsobily zm\u011Bny v podm\u00EDnk\u00E1ch rozhodovac\u00EDch proces\u016F a mnoh\u00E9 z d\u0159\u00EDv\u011Bj\u0161\u00EDch rozhodnut\u00ED bylo nutno p\u0159ehodnotit. Jedn\u00EDm ze strategick\u00FDch probl\u00E9m\u016F bylo, zda dokon\u010Dit nebo opustit projekt dostavby JE Temel\u00EDn. Anal\u00FDza tohoto probl\u00E9mu byla zalo\u017Eena na pou\u017Eit\u00ED tradi\u010Dn\u00ED metody NPV bez zahrnut\u00ED utopen\u00FDch n\u00E1klad\u016F., nicm\u00E9n\u011B nebyly br\u00E1ny v \u00FAvahu mo\u017En\u00E9 zm\u011Bny v projektu v budoucnosti. V \u010Dl\u00E1nku je tento probl\u00E9m \u0159e\u0161en na b\u00E1zi aplikace metodologie re\u00E1ln\u00FDch opc\u00ED. Rozhodovac\u00ED probl\u00E9m je \u0159e\u0161en jako probl\u00E9m ocen\u011Bn\u00ED slo\u017Een\u00E9 opce. To znamen\u00E1, \u017Ee NPV je vypo\u010Dtena s mo\u017Enost\u00ED dokon\u010Den\u00ED nebo opu\u0161t\u011Bn\u00ED projektu s opc\u00ED na do\u010Dasn\u00E9 p\u0159eru\u0161en\u00ED v\u00FDroby. Je aplikov\u00E1na replika\u010Dn\u00ED p\u0159\u00EDstup na b\u00E1zi binomi"@cs . "Electricity supply has been regarded for many years as a sector which was best run as a monopoly and in most cases as a state-owned monopoly. If private utilities have been allowed, they were tightly regulated. Over the last ten years, this view of electricity markets has changed and in most countries the electricity supply industry has undergone some reform. Electricity market liberalisation process usually leads to the increase in uncertainty. Originally, under the monopoly situation (only one company on the market), the only uncertainty were considered in fuel prices and electricity demand. After the liberalisation process, companies producing electricity face other market risks (electricity prices, competitive companies). Moreover, both under monopoly situation and on liberalised markets, electricity suppliers face legal risks (legal environmental controlling, etc.).The objective of this paper is to solve a problem if complete or abandon the nuclear power plant (NPP) in Temel\u00EDn, Czech Republic in"@en . . "Dublin, Irsko" . "RIV/61989100:27510/05:00012365!RIV06-GA0-27510___" . . "2"^^ . . "Aplikace anal\u00FDzy re\u00E1ln\u00FDch opc\u00ED p\u0159i ocen\u011Bn\u00ED projektu v odv\u011Btv\u00ED energetiky"@cs . "2"^^ . . .