G. Karakatsanis, D. Roussis, Y. Moustakis, N. Gournari, I. Parara, P. Dimitriadis, and D. Koutsoyiannis, Energy, variability and weather finance engineering, Energy Procedia, 125, 389–397, doi:10.1016/j.egypro.2017.08.073, 2017.
Weather derivatives comprise efficient financial tools for managing hydrometeorological uncertainties in various markets. With ~46% utilization by the energy industry, weather derivatives are projected to constitute a critical element for dealing with risks of low and medium impacts –contrary to standard insurance contracts that deal with extreme events. In this context, we design and engineer -via Monte Carlo pricing- a weather derivative for a remote island in Greece -powered by an autonomous diesel-fuelled generator- resembling to a standard call option contract to test the benefits for both the island’s public administration and a bank -as the transaction’s counterparty.
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Our works referenced by this work:
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Our works that reference this work:
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