Before revision:  A consequence of this is that the forward price of energy can be seen as  risk-neutral expectation of the spot price at maturity . Moreover, we obtain an explicit formula for the forward volatility and provide a heuristic analysis of the optimal solution for the production / storage / investment problem in a Markovian setting  .
After revision:  A consequence of this is that the forward price of energy can be seen as risk-neutral expectation of the spot price at maturity and we propose an explicit formula for the forward volatility and provide a heuristic analysis of the optimal solution for the production / storage / investment problem in a Markovian setting .