What are the recent trends and prospects for investment in power generation? What are the main drivers and barriers? This book assesses these issues and gives special emphasis to the question of how uncertainties may affect investment decisions. Uncertainties on CO 2 constraints, on power plant licensing, on acceptability of nuclear power, on local opposition to any new energy infrastructure, on government support for specific generation technologies and on government policies on energy efficiency are particularly disturbing. Market liberalisation can also be a key uncertainty, but this may be greatly reduced and deliver considerable benefits if liberalisation is implemented whole-heartedly and backed by on-going government commitment. Table of Content : Executive Summary and Policy Recommendations Introduction Chapter 1. Status and Trends in Power Generation -OECD Europe at Multiple Crossroads -OECD North America Shifts Focus away from Natural Gas -OECD Pacific Tests Roles of Governments and Markets Chapter 2. Diversification for Efficiency, Reliability, and the Environment -Costs and Merits are Balanced Best in a Level Playing Field -Divesification Needed to Secure Efficiency and Reliability -What About Wind Power and Intermittency? Chapter 3. Risk Management in a New Investment Paradigm -Competition Works for Efficient Investments -Risk Management in Competitive Markets -Capacity Measures are the Last Resort Chapter 4. Enabling Investment through Policy Clarity and Regulatory Efficiency -Establishing an Effective Regulatory Framework -Addressing Public Concerns in Power Plant Licensing -Facilitating the Nuclear Option References
