Investing in Bridging Fuels: The Unit Commitment Problem of Public vs. Private Ventures
研究了希腊电力市场中公共与私人天然气发电机组在机组组合问题上的表现差异，发现公共机组当前效率更高，但私人机组效率增长更快，预计2-3年内将反超。
This paper presents an extensive comparison between public and private natural gas-fired units in managing the unit commitment problem in the context of the Greek electricity market. Using a unique hourly dataset from 2015–2019, our approach utilizes risk-weighted performance metrics—Cash Flows at Risk (CFaR) and Risk Weighted Return (RWR)—to analyze performance across the public and private units. Empirical findings indicate that publicly owned natural gas-fired units outperform privately owned natural gas-fired units in terms of operational efficiency, however the efficiency of privately owned natural gas-fired units is growing at a faster pace and is expected to surpass the efficiency of public units within 2 or 3 years.