Expanding production of the United States'' vast shale gas reserves in recent years has put the country on a path towards greater energy independence, enhanced economic prosperity, and (potentially) reduced emissions of greenhouse gases and other pollutants. The corresponding expansion of gas-fired generation in the power sector driven primarily by lower natural gas prices has also made it easier and cheaper to integrate large amounts of variable renewable generation, such as wind power, into the grid. This book discusses the long-term hedge value of wind power and provides an analysis of wind and natural gas under different market structures.
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