Neue Veröffent­lichung zum Kohleausstieg mit dem Titel „Stranded Asset Risk and Political Uncertainty: The Impact of the Coal Phase-Out on the German Coal Industry”

We are happy to announce that our alumni Carl-Philipp Anke co-authored a paper published in the prestigious Energy Journal (impact factor: 3.494). The paper is based on the student’s thesis by Miriam Breitenstein co-supervised by Thomas Walther and Carl-Philipp Anke. It was transferred into paper format and analyzes the German coal phase out. More specifically, the authors investigate the impact of the phase out onto the asset valuation of coal fired power plants. In a thorough scenario analysis based on Monte Carlo simulation they compare an early phase out in 2030, the planned phase out in 2038 and the late decomposition by end of technical lifetime in 2061 and show the tension between reaching emission reduction goals and valuation losses. The paper contributes to analysis of stranded assets that are shifted from unanticipated write-downs to rather cash-effective valuation impacts and further shows the interconnection between physical assets and financial assets, which adversely affects carbon-in­tensive sectors.

The paper is an open-access publication available at the IAEE Journal’s webpage and you can find it under the following DOI: https://doi.org/10.5547/01956574.43.5.mbre

Enjoy the read!