13min chapter

Public Power Underground cover image

Resource Adequacy, Tail Risk, and Institutional Capability

Public Power Underground

CHAPTER

Understanding Fat Tail Events and Interconnected Energy Markets

The chapter delves into the concept of fat tail events in financial statistics and how extreme events in thermal fuels like gas, coal, and oil lead to market volatility and impact electricity prices. It discusses the interconnected nature of energy markets, highlighting co-dependence and the ripple effects of disruptions in coal, gas, and oil markets. The chapter also explores the impact of renewables on hedging strategies, challenges in transitioning to a future energy system, and the need for innovation in hedging mechanisms to address risks in the energy market.

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