Such flexibility means that not all of a plant’s value necessarily becomes stranded if regulatory or economic conditions change. However, in general at least some part of the asset value may nevertheless be at risk. However, the political economy of stranded capital is complex. Whilst all energy companies know that there will be an eventual need to deviate from the business-as-usual path, the timescales for changing the emissions pathway (especially within a given country or regulatory regime) is quite uncertain.