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Spinning reserve opportunity cost in hydroelectric plants

Sousa, T.; Jardini, J. A.; Masuda, M.; De Lima, R. A.
Fonte: Universidade Estadual Paulista Publicador: Universidade Estadual Paulista
Tipo: Conferência ou Objeto de Conferência Formato: 2064-2069
Português
Relevância na Pesquisa
66.27%
Starting from the deregulated process of the Electric Sector, there was the need to attribute responsibilities to several agents and to elaborate appropriate forms of remuneration of the services rendered by the same. One of the services of great importance within this new electric sector is the Ancillary Services. Among the various types of Ancillary Services, Spinning Reserve is a service necessary for maintaining the integrity of the transmission system from either generation interruptions or load variations. This paper uses the application of the Economic Dispatch theory with the objective of quantifies the availability of Spinning Reserve supply in hydroelectric plants. The proposed methodology utilizes the generating units as well as their efficiencies so as to attend the total demand with the minimum water discharge. The proposed methodology was tested through the data provided by the Água Vermelha Hydroelectric Power Plant. These tests permitted the opportunity cost valuation to the Spinning Reserve supply in hydroelectric plants. © 2005 IEEE.

The hidden opportunity cost of time effect on intertemporal choice

Zhao, Cui-Xia; Jiang, Cheng-Ming; Zhou, Lei; Li, Shu; Rao, Li-Lin; Zheng, Rui
Fonte: Frontiers Media S.A. Publicador: Frontiers Media S.A.
Tipo: Artigo de Revista Científica
Publicado em 27/03/2015 Português
Relevância na Pesquisa
46.3%
An interesting phenomenon called “hidden opportunity cost of time effect” was detected in intertemporal choices. The majority of our participants preferred the smaller but sooner (SS) option to the larger but later (LL) option if opportunity cost was explicit. However, a higher proportion of participants preferred the LL to SS option if opportunity cost was hidden. This shift violates the invariance principle and opens a new way to encourage future-oriented behavior. By simply mentioning the “obvious” opportunity cost of alternatives, decision makers can be more informed in prioritizing their long-term goals rather than short-term goals.

Custo social de oportunidade na trajetória de acesso ao ensino superior: o caso dos ingressantes na UFRN nos vestibulares de 2006 a 2010

Oliveira, Ridalvo Medeiros Alves de
Fonte: Universidade Federal do Rio Grande do Norte; BR; UFRN; Programa de Pós-Graduação em Educação; Educação Publicador: Universidade Federal do Rio Grande do Norte; BR; UFRN; Programa de Pós-Graduação em Educação; Educação
Tipo: Tese de Doutorado Formato: application/pdf
Português
Relevância na Pesquisa
46.32%
Access is a problem of higher education in Brazil that has existed since the formalization of this has occurred since the installation of the Portuguese court in Brazil in 1808. Only 10% of young people between 18 and 24 years of age attending this level of education in 2000, arriving in 2010 just 15%, far from that determined the National Education Plan in 2001, triple that percentage by the year 2010. In addition, a majority of seats of public HEIs is populated by students from the private network, especially in high-demand courses. In this context, this study aims to identify the costs related to the trajectories of students who were successful in the vestibular UFRN editions from 2006 to 2010. Presents an overview of higher education in Brazil, a brief history of vestibular, as well as new forms of access, and some of the policies to expand such access, highlighting the argument Inclusion UFRN. Focusing on the theme of the paper presents the concepts of opportunity costs and social. After collecting data through a questionnaire and consultation of databases COMPERVE was developed to search for a descriptive and analytical, with the participation of 3,995 students, of whom 1642 (41.1%) had completed secondary education in schools public...

Broadening the Offering Choice of Corporate Bonds in Emerging Markets : Cost-Effective Access to Debt Capital

Endo, Tadashi
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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46.24%
The development of corporate bond markets has been constrained in many emerging economies, partly because the regulatory model is implicitly designed for stand-alone public offerings. Corporate bonds are intrinsically more suitable for non-retail investors than for retail investors. Nonetheless, the prevailing regulatory model puts an excessive emphasis on disclosure and investor protection as well as government oversight, regardless of targeted investors. Such a non-differentiating regulatory approach disconnects issuers from investors by considerably raising opportunity costs to issuers. Broadening the choice of offering methods would lower corporate bond issuance costs, thereby allowing more issuers to finance their investments with bond issues. Additional forms of offerings are traditional private placements, institutional offerings, and shelf registration facilitated by integrated disclosure.

Djibouti - Telecommunications and ICT Diagnosis and Advocacy Policy Note : Mitigating the Opportunity Cost of Status Quo

Bezzina, Jérôme
Fonte: Washington, DC Publicador: Washington, DC
Português
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56.24%
This diagnosis and advocacy policy note highlights key issues in the Djiboutian telecommunications sector and suggests possible recommendations for policy and regulatory reform. In Djibouti the sector is fully vertically integrated and the monopolistic position of Djibouti Telecom on the whole market drives the telecommunication sector to global inefficiencies, impacting the whole social welfare. The note identifies the key operational, regulatory and policy challenges and argues that, in persisting with those identified bottlenecks the country would simply trigger a fiscal and economic opportunity cost expected to dramatically impede the development of the sector, and jeopardize the expected developmental impacts of major infrastructure projects currently initiated. Strategic and Policy recommendations to mitigate the opportunity cost of status quo are eventually proposed. Among the reforms proposed were proposing choices the reform could take, reinforcing the regulatory body of the Ministry of Communication...

Addressing Additionality in REDD Contracts When Formal Enforcement Is Absent

Cordero Salas, Paula; Roe, Brian; Sohngen, Brent
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
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46.24%
The success of reducing carbon emissions from deforestation and forest degradation depends on the design of an effective financial mechanism that provides landholders sufficient incentives to participate and provide additional and permanent carbon offsets. This paper proposes self-enforcing contracts as a potential solution for the constraints in formal contract enforcement derived from the stylized facts of reducing emissions from deforestation and forest degradation implementation in developing countries. It characterizes the optimal self-enforcing contract and provides the parameters under which private enforcement is sustainable when the seller type that is, the opportunity cost of the land, is private information. The optimal contract suggests that the seller with low opportunity cost receives a positive enforceable payment equivalent to the information rents required for self-selection, in contrast to when the buyer knows the seller type in which case all payments should be made contingent on additional forest conservation. When the buyer does not know the seller type...

Custo de oportunidade da Reserva Legal do Código Florestal entre 1995/1996 e 2006 e seus determinantes; The Forest Code opportunity cost between 1995/1996 and 2006, its evolution and its determinants

Campos, Samuel Alex Coelho
Fonte: Biblioteca Digitais de Teses e Dissertações da USP Publicador: Biblioteca Digitais de Teses e Dissertações da USP
Tipo: Tese de Doutorado Formato: application/pdf
Publicado em 07/07/2015 Português
Relevância na Pesquisa
66.46%
A produção agropecuária está sujeita a diversas restrições, como as restrições legais impostas pelo Código Florestal, o qual restringe a área utilizada para a produção agropecuária dentro do imóvel rural, o que implica em custo para os produtores agropecuários e que é representado pela renda renunciada e aumento dos custos pela alocação dos insumos de forma a reduzir a necessidade da área que deve ser mantida com florestas nativas. Esse custo pode variar entre os produtores em razão das características da propriedade e do produtor. Neste contexto, o objetivo desse estudo é mensurar o custo de oportunidade da área ocupada com Reserva Legal e seus determinantes, confrontando os produtores representativos do estado de São Paulo e do Mato Grosso nos anos de 1995 e 2006. O produtor representativo foi obtido dividindo o valor total das variáveis em nível municipal pelo número de estabelecimentos. O custo de oportunidade foi estimado utilizando a metodologia proposta por Zhou, Ang e Poh (2006) e os seus determinantes foram estimados por meio de um modelo de econometria espacial. Os resultados indicaram que a eficiência técnica e a eficiência técnica ambiental dos produtores foram pequenas nos anos analisados em ambos os estados considerados. Um produtor é eficiente tecnicamente se ele obtém o máximo de produção possível dado os insumos utilizados. A eficiência ambiental também objetiva minimizar o desmatamento. O estado do Mato Grosso destacou-se pela baixa eficiência produtiva em 1995/96...

Where to Sell? Market Facilities and Agricultural Marketing

Shilpi, Forhad; Umali-Deininger, Dina
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.25%
This paper analyzes the effect of facilities and infrastructure available at the market place on a farmer's decision to sell at the market using a comprehensive survey of farmers, markets and villages conducted in Tamil Nadu, India in 2005. The econometric estimation shows that the likelihood of sales at the market increases significantly with an improvement in market facilities and a decrease in travel time from the village to the market. The results suggest that wealth reduces a farmer's cost of accessing market facilities more than it increases her/his opportunity cost of leisure. The wealthy farmers are able to capture a disproportionate share of the benefits of facilities available at congested markets. The policy simulation, however, shows that the marginal benefits from an improvement in market facilities will favor poorer farmers in the context of India.

Estimating the Economic Opportunity Cost of Capital for Public Investment Projects : An Empirical Analysis of the Mexican Case

Coppola, Andrea; Fernholz, Fernando; Glenday, Graham
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
66.45%
This paper offers an assessment of the methodologies employed to estimate the economic opportunity cost of capital for public sector projects, relying on the Mexican case for an applied empirical exercise. The traditional weighted cost of capital (top-down) approach used in the estimation of Mexico's economic opportunity cost of capital is reviewed and compared to the supply price (bottom-up) approach. With respect to previous studies using the top-down approach, this paper explores the contribution of domestic savings and expands the analysis to include a more detailed examination of the available macroeconomic, labor, financial, and tax information. The re-estimated top-down economic opportunity cost of capital for Mexico comes to 10.4 percent. To confirm these results and provide additional insights regarding the alternative bottom-up approach, the economic opportunity cost of capital is estimated using the supply price plus externalities method. For the case of Mexico, this paper recommends using a combination of estimation models (both the top-down and bottom-up approaches) to check the consistency of results and re-estimating the economic opportunity cost of capital every five years to accommodate for macroeconomic and fiscal changes. More broadly...

Cultural Differences in Opportunity Cost Consideration

Zhang, NING
Fonte: Quens University Publicador: Quens University
Tipo: Tese de Doutorado
Português
Relevância na Pesquisa
66.48%
I conducted two studies to explore cultural differences between Chinese and European Canadians in considering opportunity cost while making purchase decisions. In Study 1, participants (121 Euro-Canadians and 119 Chinese) read a scenario in which they would decide whether to buy a single product (e.g., a backpack) or not. Participants were randomly assigned to either a condition in which opportunity cost information was made salient or a control condition in which opportunity cost was not mentioned. I found that participants in the opportunity cost salient condition displayed a higher level of opportunity cost consideration than did participants in the control condition. When individual differences in the habit of considering opportunity cost and spending habits were controlled for, Chinese participants’ purchase decisions revealed a higher degree of opportunity cost consideration than those of European Canadians. Chinese were also more likely to mention opportunity cost thoughts than did European Canadians while making the decision. In Study 2, participants chose one of two laptops to buy (one was cheaper but had less memory than the other). The results demonstrated that Chinese living in Canada displayed a higher degree of opportunity cost consideration by opting more often for the cheaper laptop...

An opportunity cost approach to redundancy compensation: An application to Sri Lanka

Fiszbein, Ariel
Fonte: Universidad de Chile. Facultad de Economía y Negocios Publicador: Universidad de Chile. Facultad de Economía y Negocios
Tipo: Artículo de revista
Português
Relevância na Pesquisa
66.24%
The paper proposes the principles which should guide the design of a compensation package for redundant workers following a program of voluntary retrenchment. It is argued that the compensation should be equal to the opportunity cost of leaving the enterprise. Using a simple specification for the opportunity cost, a payment schedule is derived and simulated for the case of Sri Lanka.

Avaliação de empresas: da mensuração contábil à econômica

Martins, Eliseu
Fonte: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade Publicador: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade
Tipo: info:eu-repo/semantics/article; info:eu-repo/semantics/publishedVersion; ; Formato: application/pdf
Publicado em 01/12/2000 Português
Relevância na Pesquisa
46.29%
São várias as formas de se medir o patrimônio e o lucro de uma empresa; desde o Custo Histórico, com base nas transações ocorridas, passando pelo Custo Corrente, considerando a reposição dos fatores de produção sendo consumidos, avaliando cada ativo e passivo pelo seu Valor Líquido de Realização e chegando ao Valor Presente dos Fluxos de Caixa Futuros.Todas elas consideram, no fundo, um único objeto: o caixa; ora o caixa acontecido, o prestes a acontecer, o que aconteceria se ativos e passivos fossem vendidos, o caixa esperado por transações futuras etc., cada uma das informações válidas para uma finalidade diferente. Logo, não são modelos alternativos, que implicam, obrigatoriamente, a eliminação ou não adoção dos demais; podem simplesmente ser tratados como complementares. Os únicos fatores que, no longo prazo, podem fazer divergir a mensuração do lucro são: inflação e custo de oportunidade. E o não uso desses dois fatores continua sendo falha imperdoável de nós, Contadores. Para o primeiro, dispomos de metodologias simplificadas e complexas (modelo "societário" e correção integral, por exemplo). Já para o segundo, isto é, o custo de oportunidade, não temos sequer aplicado o Juro do Capital Próprio...

Limited Means and What I Can't Buy: Resource Constraints and Resource Use Accessibility Drive Opportunity Cost Consideration

Spiller, Stephen Andrew
Fonte: Universidade Duke Publicador: Universidade Duke
Tipo: Dissertação
Publicado em //2011 Português
Relevância na Pesquisa
56.47%

Every consumer decision incurs a cost. An hour spent researching products is an hour not spent working. Vacation days used in the winter are vacation days not used in the summer. A dollar spent on a car payment is a dollar not spent dining out. What determines the extent to which consumers consider such opportunity costs when making decisions?

Although every purchase requires an outlay cost (i.e., spending dollars in order to obtain a good), outlay costs only have economic significance because some other good or service must be given up as a result. Consumers have unlimited wants but limited resources, so satisfying one want means not satisfying another (the opportunity cost). An opportunity cost is "the evaluation placed on the most highly valued of the rejected alternatives or opportunities" (Buchanan 2008) or "the loss of other alternatives when one alternative is chosen" (Oxford English Dictionary 2010). Opportunity costs are foundational to the science of economics and, normatively, consumers should account for opportunity costs in every decision they make. I define opportunity cost consideration as "considering alternative uses for one's resources when deciding whether to spend resources on a focal option."

Because consumers face opportunity costs...

Estimating the Opportunity Cost of Lithium Extraction in the Salar de Uyuni, Bolivia

Aguilar-Fernandez, Rodrigo
Fonte: Universidade Duke Publicador: Universidade Duke
Tipo: Masters' project Formato: 5965179 bytes; application/pdf
Português
Relevância na Pesquisa
56.07%
If the world plans to be moving away from oil based transport and towards hybrid and electric vehicles, lithium supply is the key factor. The Salar de Uyuni in Bolivia holds the largest source of lithium in the world; however, its extraction will bring a trade off with the environment. Due to the arid nature of the climate, the Salar de Uyuni basin has a sensitive ecosystem heavily dependent on water resources. Consequently, local people’s subsistence and well-being also depend on water resources on a daily basis. Studies conducted in the Salar de Uyuni basin concluded that using the same spring as a production input, water consumption for lithium extraction and crop irrigation cannot simultaneously take place. Thus, the fresh water use from the San Geronimo River creates two mutually exclusive projects, lithium mining and quinoa crop with irrigation, generating different gains to the economy of the region. The incremental cash flows model used in this study provides an estimate of the benefits that each project would provide. The results indicate that even after subtracting the opportunity cost of not conducting the quinoa irrigation project and reducing the uncertainty of the model parameters, the net present value (NPV) of the lithium extraction project is still positive and large relative to the economy of the study area. Nevertheless...

An Economic Analysis of REDD Carbon Payments on Agricultural Expansion in Bolivia

Stich, Monica
Fonte: Universidade Duke Publicador: Universidade Duke
Tipo: Masters' project Formato: 2536651 bytes; application/pdf
Português
Relevância na Pesquisa
46.3%
As deforestation accounts for a significant percentage of worldwide carbon emissions, reducing emissions from deforestation and degradation (REDD) has been the focus of intense international debate. REDD programs offer a financial mechanism to compensate areas that would have been deforested for avoided carbon emissions above an established baseline. This study examined the feasibility of such a program in El Chore Forest Reserve in Bolivia, which faces destruction from the illegal seizure of land by poor immigrant farmers. Three main components were used to obtain a spatial distribution of the minimum price of carbon required for conservation (i.e. compensate for the opportunity cost of agriculture): estimation of biomass, prediction of deforestation, and calculation of the opportunity cost. A map of biomass was estimated by regressing spectral enhancements of 2007 satellite imagery on a spatially coarse reference map of the Amazon region. It was concluded that the reserve has an average biomass of 121.1 Mg biomass/ha with a standard deviation of 15.58. The spatial probability of future deforestation was calculated using a logistic analysis on deforestation between 2001 and 2004 based on biophysical variables. By applying a projection of area deforested per year based on historical trends...

Custo de oportunidade: oculto na contabilidade, nebuloso na mente dos contadores

Goulart, André Moura Cintra
Fonte: Universidade de São Paulo. Escola de Economia, Administração e Contabilidade Publicador: Universidade de São Paulo. Escola de Economia, Administração e Contabilidade
Tipo: info:eu-repo/semantics/article; info:eu-repo/semantics/publishedVersion; ; ; ; ; ; Formato: application/pdf
Publicado em 01/12/2002 Português
Relevância na Pesquisa
46.3%
Este trabalho tem como objetivo desenvolver uma reflexão sobre o custo de oportunidade, buscandose constituir uma base adequada para a identificação de possíveis deficiências de conhecimento do referido conceito por parte dos profissionais da área contábil. Considerando-se sua relevância e grande potencial de aplicação nas atividades empresariais, como na avaliação de resultados, entende-se como fundamental a existência de compreensão sobre o custo de oportunidade e suas aplicações. Pesquisa exploratória realizada indica a validade da hipótese estabelecida, de que os profissionais da área contábil detêm conhecimento insatisfatório sobre o conceito objeto deste estudo. Assim, evidencia-se a necessidade de que mais atenção seja dada ao custo de oportunidade no processo de formação dos profissionais da contabilidade. Espera-se que estes profissionais, com segurança conceitual, estejam em condições de colaborar ativamente com o aproveitamento do custo de oportunidade em suas diversas aplicações, seja na contabilidade societária ou na gerencial, com benefícios para os usuários das informações contábeis.; The objective of this article is to develop a reflection about opportunity cost, seeking to establish an adequate basis for the identification of possible knowledge deficiencies in the accounting professionals. Considering its relevance and great potential for application in business activities...

Problemas de estimação de custo de capital de empresas concessionárias no Brasil: uma aplicação à regulamentação de concessões rodoviárias; Problemas de estimación de costo de capital de empresas concesionarias en Brasil: una aplicación a la reglamentación de concesiones de autopistas; Problems in the estimation of the cost of capital for highway operating contracts in Brazil: an application to the regulation of highway operating contracts

Sanvicente, Antonio Zoratto
Fonte: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade Publicador: Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade
Tipo: info:eu-repo/semantics/article; info:eu-repo/semantics/publishedVersion; Artigo Avaliado pelos Pares Formato: application/pdf
Publicado em 01/03/2012 Português
Relevância na Pesquisa
56.07%
This paper discusses the setting of rates of return for highway operation concession contracts in Brazil, as applied to the case of the methodology of ANTT, the country's National Highway Transport Agency. The study demonstrates the inappropriateness of the current regulation, which is based on the internal rate of return concept rather than on the use of the opportunity cost of capital. Using data from the height of the international financial crisis (December of 2008), the study also shows the illogicality that ensues from using historical returns and prices to estimate fair rates of return, a common practice among all the concession contracts for the running of public services in Brazil. An alternative methodology is proposed, whose results are sensitive to the current circumstances of the capital market and which produced results coherent with the situation, such as it was at the time.; Neste trabalho, discute-se a fixação de taxas de retorno de concessões no Brasil, com aplicação específica ao caso da metodologia da Agência Nacional de Transportes Terrestres (ANTT). Mostra-se a inadequação da regulamentação vigente, baseada no conceito de taxa interna de retorno (TIR), e não de custo de oportunidade do capital. A partir de um exemplo com dados referentes ao auge da crise financeira internacional (dezembro de 2008)...

A critical review of the opportunity cost concept.

Yip, David S.O
Fonte: London School of Economics and Political Science Thesis Publicador: London School of Economics and Political Science Thesis
Tipo: Thesis; NonPeerReviewed Formato: application/pdf
Publicado em //1999 Português
Relevância na Pesquisa
46.46%
The opportunity cost concept has been advocated as the prime decision cost concept by economists and accountants, notably scholars of the London School since Nineteen Thirties. However, there are certain conditions as discussed by Edwards (1937) and Coase (1938) which have to be met before the opportunity cost concept can be functionally applied in the accounting context. Moreover, there are few research into the decision practices of accountants and business managers relating to the application of the opportunity cost concept in business decisions. Thus, it is uncertain if the concept is adopted in practices by managers and executives. The purposes of this paper are, therefore, to carry out a critical review of the opportunity cost concept, both in terms of its theoretical validity and its applicability to the business context, as well as to investigate whether the concept has actually been adopted in practice for business decisions. Based on the contents of the agency theory, behavioural decision theory (which includes the Resouceful, Evaluative, Maximising Model), expectancy theory, and the theory of choice, a model which is termed the Expectancy Decision Processing Model is proposed to explain the decision behaviour of business managers and how they would adopt or otherwise the opportunity cost concept...

Climate change: The opportunity cost of Medupi and Kusile power stations

Blignaut,James
Fonte: Journal of Energy in Southern Africa Publicador: Journal of Energy in Southern Africa
Tipo: Artigo de Revista Científica Formato: text/html
Publicado em 01/01/2012 Português
Relevância na Pesquisa
66.27%
Eskom has embarked on the construction of two coal-fired power stations (Medupi and Kusile) that use a new dry-cooling process with flue gas desulphurisation (FGD). While the introduction of these new technologies does have meaningful environmental benefits beyond the conventional coal-fired power stations, they still emit greenhouse gasses. The question at stake here is what is the opportunity cost, viewed from a climate change perspective, of these two new power stations? This question is answered by considering the carbon footprint of the two power stations and a range of unit values for CO2. From this analysis, it is evident that the most likely range of the opportunity cost is between R6.3 billion and R10.7 billion per year. This converts to a damage cost of between R0.10 and R0.17/kWh when assuming a net combined generation capacity of 8 677 MW and a load factor of 85%.

Estimating the opportunity cost of water for the Kusile and Medupi coal-fired electricity power plants in South Africa

Inglesi-Lotz,Roula; Blignaut,James
Fonte: Journal of Energy in Southern Africa Publicador: Journal of Energy in Southern Africa
Tipo: Artigo de Revista Científica Formato: text/html
Publicado em 01/01/2012 Português
Relevância na Pesquisa
66.34%
In South Africa, water is considered a limited source, not only because of the country's arid nature, but also because of the relatively skew distribution of the resource and the fact that 98% of the resource is already allocated. Eskom, the South African electricity supplier, commenced with the construction of two new coal-fired power stations namely Kusile and Medupi. The question is: what is the opportunity cost of investing in these power stations from a water perspective? We do not argue here against the need for power plants and additional electricity generation capacity per se, but consider the opportunity cost of using this specific technology. We estimate the shadow price of water for different power generation technologies as an indicator of the opportunity cost of water. We apply a production function approach for a baseline case (coal-fired power generation using the Medupi and Kusile parameters), and four alternative technologies. The only alternative that performs worse than the baseline case is the traditional wet-cooling coal-fired power process. The baseline case, however, does show a high opportunity cost when compared to renewable alternatives (solar, wind and biomass) ranging from R0.66/kWh (biomass) to R0.83/kWh (solar) to R1.31/kWh (wind).