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商品編號： 9-200-051 出版日期： 2000/05/09 作者姓名： Esty, Benjamin C.;Tufano, Peter 商品類別： Finance 商品規格： 24p 再版日期： 2003/04/04 地域： United Kingdom 產業： Electric power generation;Apparel accessories;Electricity, gas, water & wastewater;Nuclear power generation 個案年度： 1996 - 1996
商品敘述：
In December 1996, Enron Europe and The Eastern Group were on the verge of signing an innovative transaction in the utility industry. Eastern was going to buy a long-term option to convert natural gas into electricity from Enron, thereby giving it the economic right to operate a ""virtual"" power station. This structure was vastly different from the traditional independent power plant (IPP) structure, and the executives involved had to convince their superiors of its wisdom before they could proceed. This case was jointly written for Large-Scale Investment and Corporate Financial Engineering, and it covers topics related to both project finance and financial engineering. It illustrates a new paradigm in the electric power industry: the creation of virtual power stations backed by physical power stations with merchant exposure. It also illustrates how physical operations (constructing and operating a power plant) can be used to offset contractual obligations and trading exposures.
涵蓋領域：
Project finance;Real options;IT infrastructure;Contracts;Risk management;Financial engineering;Options;Finance
相關資料：
Case Teaching Note, (5-203-085), 22p, by Benjamin C. Esty, Aldo Sesia
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