The electric power trading. The stakes and forecasts of the electric power trading at the time of Enron's failure

International Nuclear Information System (INIS)

2002-10-01

This study on the electric power trading analyzes the Change and trading mechanisms, the trading part in the european market, identifies the risk and the opportunities of the trading and analyzes the enterprises mastership. (A.L.B.)

The development of electric power/energy trading in Norway

International Nuclear Information System (INIS)

Engebretsen, J.D.

1992-01-01

One of the main aims of the Norwegian government is to make the electric power market more effective. A new energy law has been passed and other initiatives have been taken which have altered the framework of the conditions for electricity production and sales in Norway. The proposition for trading electric power and the development of new policies for calculating transmission tariffs has been dealt with in addition to plans for the extent of the development of hydroelectric power. Norway is the world's sixth largest producer of hydroelectricity. The domestic supply of electricity is described as well as the nature of the reorganization of the transmission of electricity and Norwegian foreign trade proposals within this area. The government is interested in taxing with regard to production instead of on the power itself in order to stimulate better energy economy. It is important that this will have a neutral effect between export and domestic consumption when contract sales to abroad are initiated. A more efficient electric power market will profit Norwegian society. Statistical data are included. (AB)

Inter-utility trade in electricity

International Nuclear Information System (INIS)

Penman, A.

1992-01-01

Enhanced inter-utility cooperation could have a profound effect on the future of the electricity supply industry. Coordinated planning, development, and operations of electric power systems have the potential to reduce the cost of electricity to consumers and to lessen the impact of electricity supply on the environment. These effects could be achieved by being able to supply electricity from lower cost and more environmentally benign sources located over wider geographic areas, and having to install less new generating capacity. Access to transmission and wheeling services would be an important factor in allowing increased inter-utility cooperation to occur. Canada's National Energy Board conducted a review to identify measures that can be taken to enhance interprovincial trade in electricity, to encourage greater cooperation between electric utilities in the areas of systems planning and development, and to enable buyers and sellers of electricity to obtain access to available transmission capacity through intervening provinces for wheeling purposes. The work undertaken by the Board during that review is described. A total estimated economic benefit of $23-32.5 billion was identified, mainly from long-term firm sales and from seasonal diversity exchanges. Four options were developed that appear to be available to encourage and achieve enhanced inter-utility cooperation. These are continuation of voluntary cooperation, voluntary cooperation with federal monitoring, establishing voluntary regional planning entities, and establishing regional planning entities with mandated federal power

Electricity trade under financial market supervision; Der Stromhandel unter Finanzmarktaufsicht

Energy Technology Data Exchange (ETDEWEB)

Hagena, Martin

2011-07-01

With the competitive opening of the electricity market at European and national level, the goods electricity became a freely traded commodity. The author of the contribution under consideration describes the legal consequences related to financial market for trading electricity in the context of the current Directive 2004/39/EC now under consideration of the commodity futures trading in its representational scope. The statements clearly indicate that the power market is a goods market with its own laws and not a classical financial market. It considers what characteristics exist in electricity trading and whether and how they are considered for regulatory purposes.

International trade with electric power

OpenAIRE

Årdal, Frode

2009-01-01

In 2003 the European Commission introduced the Directive 2003/54/EC and Regulation 1228/2003/EC which increased the focus on the liberalization of the European electricity market. The international electricity trade has increased and created new challenges related to cross-border transmission and compensation mechanisms. The focus of the report has been to discuss the development of the electricity market in Europe, and the status of international exchange. The report also discusses the con...

The effect of counter-trading on competition in electricity markets

NARCIS (Netherlands)

Dijk, J.J.; Willems, B.

2011-01-01

In a competitive electricity market, nodal pricing is the most efficient way to manage congestion. Counter-trading is inefficient as it gives the wrong long term signals for entry and exit of power plants. However, in a non-competitive market, additional entry will improve the competitiveness of the

The market effectiveness of electricity reform: A case of carbon emissions trading market of Shenzhen city

Science.gov (United States)

Wang, Yongli; Wang, Gang; Zuo, Yi; Fan, Lisha; Xiao, Yao

2017-03-01

In the 13th Five-Year Plan, the Chinese government proposed to achieve the national carbon emission trading market established by 2017. The establishment of carbon emission trading market is the most important one in power reform, which helps to promote the power reform and achieve the goal of energy saving and emission reduction. As the bond of connecting environment energy issues and the economic development, carbon emissions trading market has become a hot research topic in the related fields, by market means, it incentive the lower cost subject emissions to undertake more reductions and therefore to benefit, the body of the high cost finished the task by buying quota reduction, to achieve the effect of having the least social total cost. Shenzhen has become the first city in China to start carbon trading pilot formally on June 16, 2013, online trading on June 18. The paper analyzes the market effectiveness of electricity reform in China, which takes carbon emissions trading market of Shenzhen city for example, and gives some suggestions for future development.

Studies in market-based electric power trade and regulation

International Nuclear Information System (INIS)

Hope, Einar

2000-01-01

This is a compilation of articles written by the author during the last fifteen years. Most of the articles are related to the reform of the Norwegian electric power market. This reform led to the Energy Act of 1990 and to the subsequent development of the power markets. Some of the sections are in Norwegian, some in English. The sections discuss (1) Markets for electricity trade in Norway, (2) Economic incentives and public firm behaviour, (3) Market alternatives to the present forms of occasional power trade, (4) Socio-economic considerations about electricity pricing, (5) Scenarios for market based power trade in Norway, (6) Markets for electricity: economic reform of the Norwegian electricity industry, (7) The Norwegian power market, (8) A common Nordic energy market?, (9) Organization of supply markets for natural gas in Europe, (10) The extent of the central grid, (11) Optimum regulation of grid monopolies in the power trade, (12) Power markets and competition policy, (13) Deregulation of the Norwegian power sector, (14) designing a market based system for the Icelandic electricity industry and (15) regulation regimes for the power sector

Review of inter-utility trade in electricity

International Nuclear Information System (INIS)

1994-01-01

In 1992, Canada's National Energy Board released two discussion papers on inter-utility trade. Responses to the papers were received from utilities, government agencies, and other interested parties with regard to questions concerning measures that could be taken to enhance interprovincial trade in electricity and to enable buyers and sellers of electricity to obtain commercial access to available transmission capacity through intermediate provinces for wheeling purposes. The Board's review had estimated long-term net benefits from enhanced inter-utility cooperation at $23-32.5 billion by the year 2000 from such types of transactions as seasonal diversity exchanges and long-term firm sales. Seven types of options to achieve enhanced inter-utility trade were identified. Most of the respondent utilities and provinces that have direct access to external markets tended to prefer the status quo, opposing mandated solutions but supporting (or at least not opposing) federal monitoring of progress on enhanced inter-utility cooperation. Provinces and utilities without direct access to external markets tended to support (as a last resort) mandated solutions to disputes concerning electricity trade. Since the Board review, important events in the North American electricity supply industry have occurred; these are described, focusing on the US Energy Policy Act that gives powers to order transmission access. The formation by US utilities of regional transmission groups (RTGs) with federal encouragement is discussed, along with the implications for Canadian utilities that may want to become members of particular RTGs. The advantages and drawbacks of selecting the various options for enhancing inter-utility trade are then summarized. 1 tab

Trading with electric power in the Nordic countries

International Nuclear Information System (INIS)

1992-01-01

During recent years Nordic cooperation has contributed to a greater integration of the Nordic electric power markets. This has been based on trade on a short-term basis. As a part of increased integration in Europe and the demand for more effective administration of Nordic energy resources, trade with electric power has become more significant. At the same time environmental challenges have lead to an increase in Nordic and European cooperation, also within the energy sector. The aim of the seminar held in Hankoe, Norway, on June 9-11, 1992 was to discuss the problems within this field. Both theoretical and practical aspects were dealt with and developments in Europe and environmental issues were in focus. The lectures given at the seminar are included in this publication. (AB)

Section I: Basic Electricity. Syllabus in Trade Electricity-Electronics.

Science.gov (United States)

New York State Education Dept., Albany. Bureau of Occupational and Career Curriculum Development.

This section describes the first of a three part curriculum in trade electricity-electronics (each part is described in a separate volume). It presents a unit of 6 to 10 weeks duration which develops only those competencies necessary to all electricity or electronics employment. A flow chart indicates how an individual student's program can be…

Virtual CO2 Emission Flows in the Global Electricity Trade Network.

Science.gov (United States)

Qu, Shen; Li, Yun; Liang, Sai; Yuan, Jiahai; Xu, Ming

2018-05-14

Quantifying greenhouse gas emissions due to electricity consumption is crucial for climate mitigation in the electric power sector. Current practices primarily use production-based emission factors to quantify emissions for electricity consumption, assuming production and consumption of electricity take place within the same region. The increasingly intensified cross-border electricity trade complicates the accounting for emissions of electricity consumption. This study employs a network approach to account for the flows in the whole electricity trade network to estimate CO 2 emissions of electricity consumption for 137 major countries/regions in 2014. Results show that in some countries, especially those in Europe and Southern Africa, the impacts of electricity trade on the estimation of emission factors and embodied emissions are significant. The changes made to emission factors by considering intergrid electricity trade can have significant implications for emission accounting and climate mitigation when multiplied by total electricity consumption of the corresponding countries/regions.

Topics on electricity trade

International Nuclear Information System (INIS)

Skytte, K.

2001-01-01

The first chapter in this thesis is a survey of studies on electricity trade, which has been included in order to show how subjects in this thesis fit into this aspect of energy research. Transitions from centralised monopolies to liberalised electricity markets have been inaugurated in the northern European countries during the last decade. The backgrounds and speed of transitions differ within the countries. Where Norway liberalised its electricity market in order to stabilise the prices, EU urged a liberalisation in order to make the electricity supply industry more effective. Together with national liberalisation, the opening of the cross border trade between the countries is also urged. The first paper in this thesis describes those different liberalisation processes within northern Europe and discusses problems that may arise in a transition period for integrating the countries into a common electricity market with efficient cross-border competition. Before the liberalisation process started, the electricity generation was determined by a central load dispatch at known prices. The introduction of competition has necessitated the creation of new competitive markets, power exchanges and financial markets where generation and prices are determined by demand and supply on the markets. One implication of this is that investments in new plants shall be made under levels of uncertainty about future prices. The second paper in this thesis analyses the importance of introducing uncertainty in energy-economic modelling of the electricity supply sector. Another implication, which arises on introducing a new market structure and power exchanges, is that the design of the power exchanges influences the price setting on the markets. The third paper of this thesis analyses the price setting on the regulating power market on the Nordic power exchange Nord Pool. More precisely, the paper reveals the pattern of the prices on the regulating power market by analysing the cost of

Topics on electricity trade

Energy Technology Data Exchange (ETDEWEB)

Skytte, K.

2001-07-01

The first chapter in this thesis is a survey of studies on electricity trade, which has been included in order to show how subjects in this thesis fit into this aspect of energy research. Transitions from centralised monopolies to liberalised electricity markets have been inaugurated in the northern European countries during the last decade. The backgrounds and speed of transitions differ within the countries. Where Norway liberalised its electricity market in order to stabilise the prices, EU urged a liberalisation in order to make the electricity supply industry more effective. Together with national liberalisation, the opening of the cross border trade between the countries is also urged. The first paper in this thesis describes those different liberalisation processes within northern Europe and discusses problems that may arise in a transition period for integrating the countries into a common electricity market with efficient cross-border competition. Before the liberalisation process started, the electricity generation was determined by a central load dispatch at known prices. The introduction of competition has necessitated the creation of new competitive markets, power exchanges and financial markets where generation and prices are determined by demand and supply on the markets. One implication of this is that investments in new plants shall be made under levels of uncertainty about future prices. The second paper in this thesis analyses the importance of introducing uncertainty in energy-economic modelling of the electricity supply sector. Another implication, which arises on introducing a new market structure and power exchanges, is that the design of the power exchanges influences the price setting on the markets. The third paper of this thesis analyses the price setting on the regulating power market on the Nordic power exchange Nord Pool. More precisely, the paper reveals the pattern of the prices on the regulating power market by analysing the cost of

The new electricity trading arrangements: prospects for market development

International Nuclear Information System (INIS)

Anon

1999-09-01

This Briefing Paper from OXERA argues that the OFGEM proposals will not solve the fundamental market problems and might even make things worse. They focus too narrowly on the technical design of one small part of the market (the Balancing Mechanism and associated imbalance settlement process), without considering the market context and dynamics. OXERA argues that the central emphasis of the White Paper was misplaced: reform of the electricity trading arrangements, the basis of the government's strategy, will not solve the upstream and downstream market problems. The Briefing Paper includes analysis of: the structure and operation of the proposed new electricity trading arrangements; risk in the electricity wholesale market, and the responses of market participants; the interaction between the new trading arrangements and other energy market developments - in particular, vertical integration between generators and suppliers; energy supply competition, and wider government policy; the prospects for market development under the new electricity trading arrangements. (author)

Assessment of emission trading impacts on competitive electricity market price

DEFF Research Database (Denmark)

Singh, S.N.; Saxena, D.; Østergaard, Jacob

2011-01-01

analyzes the impact of electricity prices in the competitive electricity markets having a uniform market clearing price mechanism. Findings - It is found that the electricity prices depend on the system loading, generation mix, etc. at a particular hour. Various emission trading instruments are discussed...... side emission trading impact on electricity prices in the competitive power market. Design/methodology/approach - Various schemes are suggested and are being implemented to achieve this objective. It is expected that electricity price will increase due to imposition of emission taxes. This paper...... with a special emphasis on the European market. Research limitations/implications - Block bidding of the suppliers is considered whereas the demand is assumed to be inelastic. Originality/value - The emission trading impacts are analyzed on a simple example....

Trading electricity outside the Nordic countries

International Nuclear Information System (INIS)

1994-01-01

The subject of transborder trade of electricity between the Nordic countries and other North-European countries is dealt with. A detailed comparison of generating capacity, generating costs as well as electricity prices, market structure and national and international regulations is given. This shows that generating costs in the Nordic countries in general are lower than those in other North-European countries. This indicates a potential for transborder trade. Norway has a potential for exporting power while Denmark and Sweden have a potential for energy exports due to current excess capacity. Transmission capacity from the Nordic countries to Germany is limited. As access to the German transmission network is restricted, conditions for trade depend on differences between marginal cost. After transmission cost, those differences do not finance larger investments in further capacity. A change in the market structure in Germany with third party access to the transmission network will allow major consumers to buy directly from producers in the Nordic countries. An opening up of the market should reduce the price load in Germany. This could cause price increases in the Nordic countries. (AB)

The impacts of EU CO2 emissions trading on electricity markets and electricity consumers in Finland

International Nuclear Information System (INIS)

Kara, M.; Syri, S.; Lehtilae, A.; Helynen, S.; Kekkonen, V.; Ruska, M.; Forsstroem, J.

2008-01-01

In this paper, the likely impacts of the EU emission trading system on the Nordic electricity market and on the position of various market actors are assessed. In its first phase, the EU CO 2 emission trading system includes power plants with thermal capacity greater than 20 MW, metals industry, pulp and paper industry, mineral industry and oil refineries. This paper describes the assessment done for the Finnish Minister of Trade and Industry, analysing the likely impacts on power plant operators, on energy-intensive industries, on other industries and on other consumer groups. The impacts of emissions trading were studied with the VTT electricity market model and with the TIMES energy system model. The annual average electricity price was found to rise 0.74 EUR MW h -1 for every 1 Euro tonne CO 2 -1 in the Nordic area. Large windfall profits were estimated to incur to electricity producers in the Nordic electricity market. In Finland, metals industry and private consumers were estimated to be most affected by the electricity market price increases. Expanded nuclear power generation could limit the increases in the prices of electricity to one-third compared to those in the base case

Status of electricity trading in the United States

International Nuclear Information System (INIS)

McMillan, P.H.

1999-01-01

The evolution of the energy marketplace in the United States is presented in a series of overhead viewgraphs. The influencing factors of energy trading are described as being supply concentration, rate cross subsidization, price volatility, physics, stranded investment, market structure and value drivers. A map depicting trading hubs and market structures is included, along with an outline of the key characteristics of a successful market hub. Gas-electric interface issues are also discussed. It was stated that contrary to conventional wisdom that as gas and electricity markets converge, traders will routinely cross-hedge gas and power, the practical reality is that volatility of the gas to electricity basis spread actually limits hedging opportunities. A winning strategy should include thorough fundamental and technical analysis; every trade or position should have a well thought-out exit strategy; get closer to physical assets; and be careful across regional hubs and commodities. 2 tabs., 7 figs

The Impact of Emissions Trading on the Price of Electricity in Nord Pool : Market Power and Price Determination in the Nordic Electricity Market

OpenAIRE

Oranen, Anna

2006-01-01

The objective of this thesis is to find out how dominant firms in a liberalised electricity market will react when they face an increase in the level of costs due to emissions trading, and how this will effect the price of electricity. The Nordic electricity market is chosen as the setting in which to examine the question, since recent studies on the subject suggest that interaction between electricity markets and emissions trading is very much dependent on conditions specific to each market ...

Multi-period emissions trading in the electricity sector-winners and losers

International Nuclear Information System (INIS)

Bode, Sven

2006-01-01

In the context of controlling greenhouse gas emissions, the directive on a Europe-wide trading scheme may be perceived as one of the most important milestones in recent years. Prior to its start, however, a number of very specific design features have to be agreed upon. Regarding the allocation of allowances, a distribution (almost) free of charge seems to be the most likely choice. An aspect that has interestingly attracted little attention in the past is the question of how to allocate emission rights over time. The following paper analyses different allocation options in multi-period emissions trading that are currently discussed in the European context. The options are applied for the electricity sector which is simulated over two periods. The paper distinguishes between a market effect of emissions trading and compliance costs for meeting the emission reduction obligation. The market effect results from a price increase which is due to the fact that opportunity costs for using allowances must be considered. It turns out that the electricity sector as a whole gains from the introduction of the instrument due to the increase of the electricity price. With regard to the different allocation options, it is found that utilities have different preferences depending on the fuel used

Review of inter-utility trade in electricity: Analyses of submissions

International Nuclear Information System (INIS)

1994-04-01

In November 1992, Canada's National Energy Board released two discussion papers describing its review of inter-utility trade in electricity. The review was undertaken to report on measures that could be taken to enhance interprovincial trade in electricity by encouraging greater cooperation among utilities in systems planning and development, and by enabling buyers and sellers of electricity to obtain commercial access to available transmission capacity through intermediate provinces for wheeling purposes. Interested parties were invited to comment on the papers and 42 responses were received from Canadian utilities, provincial governments, regulatory agencies, and others. These responses are summarized and analyzed, providing an indication of how future policy initiatives on electricity trade might be received. Most submitters agreed that there is a need to enable commercial access to available transmission capacity through intermediate provinces for wheeling purposes. Of the seven options described in the discussion papers that would enable buyers and sellers of electricity to gain commercial access to transmission grids, the status quo was preferred by those utilities and provinces that have direct access to export markets by virtue of their geographic location. Those utilities and provinces that do not have such direct access tend to support, as a last resort, mandated solutions to disputes concerning electricity trade. 78 figs

Legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading

International Nuclear Information System (INIS)

Retsch, Alexander T.

2014-01-01

The thesis on legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading include the discussion of the following issues: market abuse, its forms of appearance (market manipulation, insider trade, insider information), electricity spot trading, relevant legislative frame, market abuse regulations (WpHG), interdiction of market manipulation and related regulations.

Seamless electricity trade between Canada and the U.S. northeast

International Nuclear Information System (INIS)

Bernard, J.T.; Clavet, F.; Ondo, J.C.

2003-01-01

In January 1997, the wholesale electricity market in the United States (U.S.) opened to competition following FERC Order 888 which allowed producers and local distribution companies to sell electricity at market prices. The deregulation of the wholesale electricity market in the U.S. is regarded as an opportunity for the Canadian electric power industry to increase profit. This paper examined the price and trade effects for Ontario, Quebec, New Brunswick, New York and New England resulting from the seamless border created by deregulation. Pre-1997 exchanges made possible fuel cost savings of $397.2 million per year. Deregulation added annual savings of $358.7 million. The main beneficiaries are Canadian regions because exports are priced at the marginal costs of the importing regions. Imports from the Canadian regions are not large enough to lower the marginal costs of the U.S. regions. Therefore, electricity deregulation across the border is not likely to greatly decrease prices in the U.S. regions. It was also noted that the U.S. is becoming more dependant upon Canadian electricity imports. Since wholesale markets were opened, greenhouse gas (GHG) emissions increased by 4.3 Mt of carbon dioxide equivalent because of the low cost of coal, mostly in Ontario. Trade patterns may change with growing electricity demand and environmental concerns. 17 refs., 12 tabs., 1 fig

Study on Electricity Purchase Optimization in Coordination of Electricity and Carbon Trading

Science.gov (United States)

Liu, Dunnan; Meng, Yaru; Zhang, Shuo

2017-07-01

With the establishment of carbon emissions trading market in China, the power industry has become an important part of the market participants. The power grid enterprises need to optimize their own strategies in the new environment of electricity market and carbon market coordination. First, the influence of electricity and carbon trading coordination on electricity purchase strategy for grid enterprises was analysed in the paper. Then a power purchase optimization model was presented, which used the minimum cost of low carbon, energy saving and environment protection as the goal, the power generation capacity, installed capacity and pollutant emission as the constraints. Finally, a provincial power grid was taken as an example to analyse the model, and the optimization order of power purchase was obtained, which provided a new idea for the low carbon development of power grid enterprises.

Peer to peer energy trading with electric vehicles

OpenAIRE

Alvaro-Hermana, R.; Fraile-Ardanuy, J.; Zufiria, P.; Knapen, Luk; Janssens, Davy

2016-01-01

This paper presents a novel peer-to-peer energy trading system between two sets of electric vehicles, which significantly reduces the impact of the charging process on the power system during business hours. This trading system is also economically beneficial for all the users involved in the trading process. An activity-based model is used to predict the daily agenda and trips of a synthetic population for Flanders (Belgium). These drivers can be initially classified into three sets; after d...

The surveillance of the electricity wholesale market and emission trading market

International Nuclear Information System (INIS)

Luedemann, Volker

2015-01-01

The Regulation on Wholesale Market Integrity and Transparency (REMIT) and the German Law on the Establishment of a Market Transparency Office for Wholesale Trade in Electricity and Gas (MTS-G) have fundamentally changed the surveillance of electricity wholesale trade in Germany. From now on the Federal Network Agency and the Federal Cartel Office will be jointly responsible for monitoring the electricity wholesale trade for suspicious market phenomena and abusive behaviour. The REMIT specifies that the electricity trade must be surveilled ''with due consideration to interactions'' with the emission trade system. However, occurrences observed in recent years have shown that the emission trading system is in need of reform. This has also been recognised and has prompted extensive corrective action by the regulatory authorities of the European Union. These changes have yet to be transposed into the national surveillance regimes. The present article explains why the new role accorded to the Federal Network Agency under the REMIT fails to eliminate the structural shortcomings of the old surveillance system. At least the decision to put the collection and evaluation of data exclusively in the hands of the market transparency office and the cooperation this will prompt between the supervisory authorities responsible will make the task of surveilling the energy wholesale trading market a lot easier for the authorities. The energy transition and its exigencies will yet lead to further changes in the market and its surveillance regime.

Cross-border electricity market effects due to price caps in an emission trading system : An agent-based approach

NARCIS (Netherlands)

Richstein, J.C.; Chappin, E.J.L.; De Vries, L.J.

2014-01-01

The recent low CO2 prices in the European Union Emission Trading Scheme (EU ETS) have triggered a discussion whether the EU ETS needs to be adjusted. We study the effects of CO2 price floors and a price ceiling on the dynamic investment pathway of two interlinked electricity markets (loosely based

Economically optimized electricity trade modeling. Iran-Turkey case

International Nuclear Information System (INIS)

Shakouri G, H.; Eghlimi, M.; Manzoor, D.

2009-01-01

The advantages of power trade between countries, which are attainable for various facts, are distinguished now. Daily differences in the peak-load times of neighboring countries commonly occur for differences in the longitudes of their location. Seasonal differences are also caused by differences in the latitudes leading to different climates. Consequently, different load curves help to have such a production schedule that reduces blackouts and investments for power generation by planning for a proper trade between countries in a region. This paper firstly describes the methodology and framework for the power trade and then the results of an optimal power trade model between Iran and Turkey, which shows a potential benefit for both countries by peak shaving, are presented. The results, in the worst case design, represent optimality of about 1500 MW electricity export from Iran to Turkey at the Turkish peak times, as well as 447 MW electricity import from Turkey at the Iranian peak times. In addition, results derived from running a Long-Run model show that there will be greater potential for power export from Iran to Turkey, which is a guideline of an energy conservation strategy for both countries in the future. (author)

Cap-and-Trade Modeling and Analysis: Congested Electricity Market Equilibrium

Science.gov (United States)

Limpaitoon, Tanachai

This dissertation presents an equilibrium framework for analyzing the impact of cap-and-trade regulation on transmission-constrained electricity market. The cap-and-trade regulation of greenhouse gas emissions has gained momentum in the past decade. The impact of the regulation and its efficacy in the electric power industry depend on interactions of demand elasticity, transmission network, market structure, and strategic behavior of firms. I develop an equilibrium model of an oligopoly electricity market in conjunction with a market for tradable emissions permits to study the implications of such interactions. My goal is to identify inefficiencies that may arise from policy design elements and to avoid any unintended adverse consequences on the electric power sector. I demonstrate this modeling framework with three case studies examining the impact of carbon cap-and-trade regulation. In the first case study, I study equilibrium results under various scenarios of resource ownership and emission targets using a 24-bus IEEE electric transmission system. The second and third case studies apply the equilibrium model to a realistic electricity market, Western Electricity Coordinating Council (WECC) 225-bus system with a detailed representation of the California market. In the first and second case studies, I examine oligopoly in electricity with perfect competition in the permit market. I find that under a stringent emission cap and a high degree of concentration of non-polluting firms, the electricity market is subject to potential abuses of market power. Also, market power can occur in the procurement of non-polluting energy through the permit market when non-polluting resources are geographically concentrated in a transmission-constrained market. In the third case study, I relax the competitive market structure assumption of the permit market by allowing oligopolistic competition in the market through a conjectural variation approach. A short-term equilibrium

The electricity exchange. On the organisation and latent functions of electricity exchange trading as seen from the viewpoint of market sociology

International Nuclear Information System (INIS)

Giacovelli, Sebastian

2014-01-01

Electricity exchange trading in Germany has existed since the year 2000. Since this time, the Leipzig electricity exchange, a reference market for off-exchange electricity trading, has operated in an environment marked by both criticism and acceptance. Taking this field of controversy as a point of departure the present empirical study in market sociology undertakes to investigate the organisation and latent functions of electricity exchange trading. The ensuing analysis provides answers to questions as to how prices are formed on the electricity exchange and what officially incommunicable functions are served by price formation on exchanges.

The significance of interconnector counter-trading in a security constrained electricity market

International Nuclear Information System (INIS)

Higgins, P.; Li, K.; Devlin, J.; Foley, A.M.

2015-01-01

Throughout the European Union there is an increasing amount of wind generation being dispatched-down due to the binding of power system operating constraints from high levels of wind generation. This paper examines the impact a system non-synchronous penetration limit has on the dispatch-down of wind and quantifies the significance of interconnector counter-trading to the priority dispatching of wind power. A fully coupled economic dispatch and security constrained unit commitment model of the Single Electricity Market of the Republic of Ireland and Northern Ireland and the British Electricity Trading and Transmission Arrangement was used in this study. The key finding was interconnector counter-trading reduces the impact the system non-synchronous penetration limit has on the dispatch-down of wind. The capability to counter-trade on the interconnectors and an increase in system non-synchronous penetration limit from 50% to 55% reduces the dispatch-down of wind by 311 GW h and decreases total electricity payments to the consumer by €1.72/MW h. In terms of the European Union electricity market integration, the results show the importance of developing individual electricity markets that allow system operators to counter-trade on interconnectors to ensure the priority dispatch of the increasing levels of wind generation. - Highlights: • Interconnector counter-trading reduces the system marginal price in the SEM. • Dispatch-down of wind power is reduced due to interconnector counter-trading. • A 5% increase in the SNSP limit can reduce wind power dispatched-down by 50%. • An increase in the SNSP limit and installed wind capacity reduces the SMP.

Assessing the advantages and drawbacks of government trading of guarantees of origin for renewable electricity in Europe

International Nuclear Information System (INIS)

Ragwitz, Mario; Del Rio Gonzalez, Pablo; Resch, Gustav

2009-01-01

The European Commission has proposed a new Renewable Energy Directive, which includes flexibility provisions allowing the cost-effective attainment of the ambitious target for renewable energy of 20% of energy consumption, which has been set for the year 2020. One of the flexibility provisions currently being considered is to allow countries to reach their individual targets by buying their renewable electricity deployment deficit from other countries with a surplus (i.e., with a renewable electricity deployment above their targets). This trade is likely to take the form of an exchange in guarantees of origin (GOs). GOs are currently implemented in Member States to fulfil the Renewable Electricity Directive requirement that each country has a system that allows the tracing of the source of each kWh of renewable electricity and informs on this source. Although the recent and tiny literature on the analysis of GO trading has focused on trade between firms, the exchange of GOs between governments has not received a comparable attention. This paper analyses the advantages and drawbacks of a system of government trading of GOs with respect to company trading. (author)

Assessing the advantages and drawbacks of government trading of guarantees of origin for renewable electricity in Europe

Energy Technology Data Exchange (ETDEWEB)

Ragwitz, Mario [Fraunhofer Institute Systems and Innovation Research, Breslauer Street 48, D-76139 Karlsruhe (Germany); Del Rio Gonzalez, Pablo [Institute for Public Goods and Policies (IPP), Centro de Ciencias Humanas y Sociales, Consejo Superior de Investigaciones Cientificas (CSIC), C/Albasanz 26-28, 28037 Madrid (Spain); Resch, Gustav [Energy Economics Group, Vienna University of Technology, Gusshausstrasse 25-29/373-2, A-1040 Vienna (Austria)

2009-01-15

The European Commission has proposed a new Renewable Energy Directive, which includes flexibility provisions allowing the cost-effective attainment of the ambitious target for renewable energy of 20% of energy consumption, which has been set for the year 2020. One of the flexibility provisions currently being considered is to allow countries to reach their individual targets by buying their renewable electricity deployment deficit from other countries with a surplus (i.e., with a renewable electricity deployment above their targets). This trade is likely to take the form of an exchange in guarantees of origin (GOs). GOs are currently implemented in Member States to fulfil the Renewable Electricity Directive requirement that each country has a system that allows the tracing of the source of each kWh of renewable electricity and informs on this source. Although the recent and tiny literature on the analysis of GO trading has focused on trade between firms, the exchange of GOs between governments has not received a comparable attention. This paper analyses the advantages and drawbacks of a system of government trading of GOs with respect to company trading. (author)

Will free trade in electricity between Ontario/Canada and the U.S. improve air quality?

International Nuclear Information System (INIS)

Plagiannakos, T.

2000-10-01

The impact of the North American Free Trade Agreement (NAFTA) on electricity trade between Canada and the United States is assessed. Results of this study indicate that free trade in electricity between Ontario and the U.S. will not affect air quality since both Canada and the United States have made significant reductions in emissions and are committed to further reductions and tighter NOx emission standards in the future. In the short-term, however, if open access takes place before tighter NOx emission standards take effect, emissions could increase and adversely affect air quality both in Canada and the U.S. To reduce the extent of air quality deterioration it is proposed that (1) environmental regulations take into consideration regional differences, (2) emission standards for electricity generators in Canada and the U.S. continue to converge to ensure competition on a level playing field, (3) electricity trading programs be harmonized to enable generation companies to take advantage of opportunities for reducing emissions at the lowest cost, (4) Canada and the U.S. establish a process for harmonizing future environmental regulations for mercury emissions, long-term targets for sulphur dioxide and NOx emissions as well as for particulates emissions. 4 refs., 21 figs

Cross-Country Electricity Trade, Renewable Energy and European Transmission Infrastructure Policy

OpenAIRE

Abrell, Jan; Rausch, Sebastian

2016-01-01

This paper develops a multi-country multi-sector general equilibrium model, integrating high-frequency electricity dispatch and trade decisions, to study the e ects of electricity transmission infrastructure (TI) expansion and re- newable energy (RE) penetration in Europe for gains from trade and carbon dioxide emissions in the power sector. TI can bene t or degrade environ- mental outcomes, depending on RE penetration: it complements emissions abatement by mitigating dispatch problems associ...

Electricity trade and GHG emissions: Assessment of Quebec's hydropower in the Northeastern American market (2006-2008)

International Nuclear Information System (INIS)

Ben Amor, Mourad; Pineau, Pierre-Olivier; Gaudreault, Caroline; Samson, Rejean

2011-01-01

Worldwide electricity sector reforms open up electricity markets and increase trades. This has environmental consequences as exports and imports either increase or decrease local production and consequently greenhouse gas (GHG) emissions. This paper's objective is to illustrate the importance of electricity trade's impact on GHG emissions by providing an estimate of the net GHG emissions resulting from these trades. To achieve this objective, Quebec hourly electricity exchanges with adjacent jurisdictions were examined over the 2006-2008 period. In order to associate a specific GHG emission quantity to electricity trades, hourly marginal electricity production technologies were identified and validated using the Ontario hourly output per power plant and information released in the Quebec adjacent system operator reports. It is estimated that over three years, imports into Quebec were responsible for 7.7 Mt of GHG, while Quebec hydropower exports avoided 28.3 Mt of GHG emissions. Hence, the net result is 20.6 Mt of avoided emissions over 2006-2008, or about 7 Mt per year, which corresponds to more than 8% of the Quebec yearly GHG emissions. When GHG emissions from all life cycle stages (resource extraction to end-of-life) are accounted for, the net avoided GHG emissions increase by 35%, to 27.9 Mt. - Research highlights: → Environmental benefits of hydropower exports are considerable. → Detailed GHG assessment of such electricity trade is missing from the literature. → Net GHG emissions estimate resulting from such trade is provided. → GHG gains are significant in the Northeast American electricity market due to such electricity trade.

Electric power trading. The first study on stakes and consequences of power trading

International Nuclear Information System (INIS)

2000-06-01

Power trading (purchase/sale of electricity on a stock exchange) is an emerging activity in continental Europe while it already came to maturity in the US, in the UK and in Scandinavia. Several stock exchanges have opened since 1988, in particular in Germany, Spain and in The Netherlands. New projects of creation are under study, except in France where public authorities remain reticent with respect to this evolution. Power trade is deeply overturning the organization of power markets with offering an alternative to the direct supply from producers and distributors. This study presents the functioning modes of the main stock exchanges in operation today. It analyzes the stakes of power trade for all intervening parties of the market (historical actors, newcomers and consumers). The situation and the strategic behaviour of 12 key-actors of the power sector are also examined. (J.S.)

Is trade openness good for environment in South Korea? The role of non-fossil electricity consumption.

Science.gov (United States)

Zhang, Shun

2018-04-01

The paper investigates the linkage of carbon dioxide (CO 2 ) emissions, per capita real output, share of non-fossil electricity consumption, and trade openness in South Korea from 1971 to 2013. The empirical results indicate that the environmental Kuznets curve (EKC) is supported by autoregressive distributed lag (ARDL) test. Both short- and long-run estimates indicate that increasing non-fossil electricity consumption can mitigate environmental degradation, and increasing trade aggravates carbon dioxide emissions. By Granger causality, long-run causalities are found in both equations of CO 2 emissions and trade openness, as well as exports and imports. In the short-run, evidence indicates feedback linkage between output and trade, unidirectional linkages from trade to emissions, from emissions to output, and from output to non-fossil electricity use. Therefore, South Korea should strengthen the sustainable economy, consume clean energy, and develop green trade.

CO2 trade and market power in the EU electricity sector

International Nuclear Information System (INIS)

Tinggaard Svendsen, G.; Vesterdal, M.

2002-01-01

The EU commission is planning to launch an emission trading market for greenhouse gases within near future. This to meet its obligations under the United Nations Framework Convention on Climate Change and the Kyoto Protocol. After a theoretical discussion on market power in such a market, wc turn to the empirical evidence which suggests that a reasonable number of sources of C02 emissions in the power sector exists for bollers larger than 25MW. Overall, together with the contestable single market for electricity, the risk of significant strategies behaviour seems negligible. Thus, the electric utility sector seems a suitable testing ground for an EU-scheme of emissions trading. In the longer run, it will be important to broaden the scope of the trading scheme as the inclusion of other sectors will further limit the risk of market power. (au)

CO2 trade and market power in the EU electricity sector

Energy Technology Data Exchange (ETDEWEB)

Tinggaard Svendsen, G; Vesterdal, M

2002-07-01

The EU commission is planning to launch an emission trading market for greenhouse gases within near future. This to meet its obligations under the United Nations Framework Convention on Climate Change and the Kyoto Protocol. After a theoretical discussion on market power in such a market, wc turn to the empirical evidence which suggests that a reasonable number of sources of C02 emissions in the power sector exists for bollers larger than 25MW. Overall, together with the contestable single market for electricity, the risk of significant strategis behaviour seems negligible. Thus, the electric utility sector seems a suitable testing ground for an EU-scheme of emissions trading. In the longer run, it will be important to broaden the scope of the trading scheme as the inclusion of other sectors will further limit the risk of market power. (au)

75 FR 22578 - Application To Export Electric Energy; Centre Lane Trading Limited

Science.gov (United States)

2010-04-29

... DEPARTMENT OF ENERGY [OE Docket No. EA-365] Application To Export Electric Energy; Centre Lane... application. SUMMARY: Centre Lane Trading Limited (CLT) has applied for authority to transmit electric energy...)). On April 20, 2010, DOE received an application from CLT for authority to transmit electric energy...

75 FR 75994 - Application To Export Electric Energy; Sempra Energy Trading LLC

Science.gov (United States)

2010-12-07

... DEPARTMENT OF ENERGY [OE Docket No. EA-191-D] Application To Export Electric Energy; Sempra Energy... application. SUMMARY: Sempra Energy Trading LLC (SET) has applied to renew its authority to transmit electric... transmit electric energy from the United States to Canada for a two- year term as a power marketer using...

Are the British electricity trading and transmission arrangements future-proof?

International Nuclear Information System (INIS)

Green, Richard

2010-01-01

In Great Britain, electricity is traded in an energy-only market that relies upon bilateral trading until shortly before real time. The GB System Operator also uses bilateral trading to respond to changes in demand and generation and resolve transmission constraints. Prices are not explicitly spatial, although well-placed generators can charge the system operator more for their output. This paper argues that these arrangements are not well-suited for the challenges of accommodating nearly thirty percent of intermittent wind generation, often located far from demand. The market design already implemented in the north-eastern United States is likely to be more efficient. (author)

Emissions trading and innovation in the German electricity industry

Energy Technology Data Exchange (ETDEWEB)

Cames, Martin

2010-07-01

One major objective of the introduction of emissions trading in the European Union was to promote innovation towards mitigating climate change. Focusing on the German electricity industry, the extent to which this objective has been achieved up to now and how the design of the trading scheme could be improved towards achieving the intended objective shall be analyzed in this thesis. These questions are tackled in the thesis from a theoretical and an empirical perspective. The theoretical analysis was largely based on neoclassical environmental economics by using an algebraic model which allowed for comparison of the relevant companies' profits under various configurations of the analyzed design options. The empirical analysis was grounded on two surveys of the electricity industry - one before the start of emissions trading, the other after two and a half years of experience - which enabled identification of the concrete changes in the companies' perceptions and attitudes towards innovation due to the introduction of emissions trading. The analysis reveals some indications that the instrument has basically functioned as originally intended although it has certainly not yet developed its full potential in terms of promoting innovation towards a more climate friendly electricity system. From an environmental innovation perspective the following improvements are essential: (1) Closure provisions should be abolished as soon as possible because they basically extend the lifetime of old installations and thus rather delay innovation. (2) Fuel-specific allocation to new entrants should also be abandoned since it eliminates - at least partly - the incentives to shift investments towards technologies which use more carbon friendly fuels such as natural gas or biomass. (3) Introducing full auctioning for the electricity industry would remedy both of the above-mentioned weaknesses and at the same time eliminate the windfall profit generated by free allocation of allowances

Emissions trading and innovation in the German electricity industry

Energy Technology Data Exchange (ETDEWEB)

Cames, Martin

2010-07-01

One major objective of the introduction of emissions trading in the European Union was to promote innovation towards mitigating climate change. Focusing on the German electricity industry, the extent to which this objective has been achieved up to now and how the design of the trading scheme could be improved towards achieving the intended objective shall be analyzed in this thesis. These questions are tackled in the thesis from a theoretical and an empirical perspective. The theoretical analysis was largely based on neoclassical environmental economics by using an algebraic model which allowed for comparison of the relevant companies' profits under various configurations of the analyzed design options. The empirical analysis was grounded on two surveys of the electricity industry - one before the start of emissions trading, the other after two and a half years of experience - which enabled identification of the concrete changes in the companies' perceptions and attitudes towards innovation due to the introduction of emissions trading. The analysis reveals some indications that the instrument has basically functioned as originally intended although it has certainly not yet developed its full potential in terms of promoting innovation towards a more climate friendly electricity system. From an environmental innovation perspective the following improvements are essential: (1) Closure provisions should be abolished as soon as possible because they basically extend the lifetime of old installations and thus rather delay innovation. (2) Fuel-specific allocation to new entrants should also be abandoned since it eliminates - at least partly - the incentives to shift investments towards technologies which use more carbon friendly fuels such as natural gas or biomass. (3) Introducing full auctioning for the electricity industry would remedy both of the above-mentioned weaknesses and at the same time eliminate the windfall profit generated by free allocation of

For the Benefit of California Electricity Ratepayers: Electricity Sector Options for the Use of Allowance Value Created under California’s Cap-and-Trade Program

OpenAIRE

Burtraw, Dallas; McLaughlin, David; Szambelan, Sarah Joh

2012-01-01

California will implement a cap-and-trade program to limit emissions of carbon dioxide covering industry and electricity sector emissions in 2013, expanding to cover transportation and natural gas in 2015. Although cap-and-trade would increase annual electricity costs for the average customer by $30 to nearly $100, the allowance value created under the program can offset all of these costs and even reduce electricity bills. California’s Air Resources Board has directed electricity regulators ...

75 FR 57911 - Application to Export Electric Energy; EDF Trading North America, LLC

Science.gov (United States)

2010-09-23

... DEPARTMENT OF ENERGY [OE Docket No. EA-373] Application to Export Electric Energy; EDF Trading...)). On August 30, 2010, DOE received an application from EDF for authority to transmit electric energy... service area. The electric energy that EDF proposes to export to Mexico would be surplus energy purchased...

75 FR 26202 - Application To Export Electric Energy; EDF Trading North America, LLC

Science.gov (United States)

2010-05-11

... DEPARTMENT OF ENERGY [OE Docket No. EA-367] Application To Export Electric Energy; EDF Trading...)). On April 27, 2010, DOE received an application from EDF for authority to transmit electric energy... franchised service area. The electric energy that EDF proposes to export to Canada would be surplus energy...

The impact of the EU emissions trading scheme on the price of electricity in the Netherlands

International Nuclear Information System (INIS)

Sijm, J.P.M.

2004-02-01

In this paper a specific aspect of the proposed EU Emissions Trading System (EU ETS) is discussed, namely the potential impact of the EU ETS on the price of electricity in the Netherlands and, hence, the potential implications for Dutch power producers and consumers. It shows that the EU ETS may lead to a significant increase in the price of electricity in the Netherlands (and other EU Member States), depending on the marginal costs of emissions trading (i.e. the price of an emission allowance), the emission factor of the marginal production technology to generate electricity, and the extent to which the costs of emissions trading will be passed on to the end-users of electricity. If, for one reason or another, these costs will not be passed on to power consumers, it will have an adverse impact on overall efficiency from both an energy and economic point of view. On the other hand, if - as expected - these costs are indeed passed on to end-users of electricity, it will benefit power producers (mainly owing to the economic rent of allocating emission allowances for free), while it will harm those energy-intensive industries that, in turn, are not able to pass the higher electricity costs to their customers (resulting in a loss of economic production and income). To some degree, these effects can be best avoided by auctioning emission allowances mandatory throughout the EU ETS and using the auction revenues to reduce the overall level of taxation and social premiums in order to improve the overall competitiveness of domestic industries and to (partly) compensate power consumers for the ET-induced increase in the price of electricity

The integrated North American electricity market : assuring an adequate supply of electricity through cross-border cooperation and trade

International Nuclear Information System (INIS)

Egan, T.

2005-03-01

The purpose of this paper is to support cooperation and discussion of the long-term sufficiency of the electricity trading system between Canada and the United States. It discusses the integrated electricity market including details on exports and imports of electricity, major transmission interconnections, the economic and environmental benefits of an integrated market and electricity generation statistics by fuel source. The paper also discusses several areas of cooperation and presents several recommendations including: greater dialogue on regional supply requirements; mandatory reliability standards; coordinated regulatory approaches to new cross-border transmission; the role of emerging generation and transmission technologies; opportunities to exchange experience and learning on demand-side measures; coordinated strategies to manage greenhouse gas and other air pollutants; and, critical infrastructure protection. The paper concludes that the integration between Canada and the United States will only increase as energy demand and trade continue to grow, making close cooperation between the two countries a necessity. 6 figs

Upstream vs. downstream CO2 trading: A comparison for the electricity context

International Nuclear Information System (INIS)

Hobbs, Benjamin F.; Bushnell, James; Wolak, Frank A.

2010-01-01

In electricity, 'downstream' CO 2 regulation requires retail suppliers to buy energy from a mix of sources so that their weighted emissions satisfy a standard. It has been argued that such 'load-based' regulation would solve emissions leakage, cost consumers less, and provide more incentive for energy efficiency than traditional source-based cap-and-trade programs. Because pure load-based trading complicates spot power markets, variants (GEAC and CO 2 RC) that separate emissions attributes from energy have been proposed. When all generators and consumers come under such a system, these load-based programs are equivalent to source-based trading in which emissions allowances are allocated by various rules, and have no necessary cost advantage. The GEAC and CO 2 RC systems are equivalent to giving allowances free to generators, and requiring consumers either to subsidize generation or buy back excess allowances, respectively. As avoided energy costs under source-based and pure load-based trading are equal, the latter provides no additional incentive for energy efficiency. The speculative benefits of load-based systems are unjustified in light of their additional administrative complexity and cost, the threat that they pose to the competitiveness and efficiency of electricity spot markets, and the complications that would arise when transition to a federal cap-and-trade system occurs.

Water Resource Impacts Embedded in the Western US Electrical Energy Trade; Current Patterns and Adaptation to Future Drought

Science.gov (United States)

Adams, E. A.; Herron, S.; Qiu, Y.; Tidwell, V. C.; Ruddell, B. L.

2013-12-01

Water resources are a key element in the global coupled natural-human (CNH) system, because they are tightly coupled with the world's social, environmental, and economic subsystems, and because water resources are under increasing pressure worldwide. A fundamental adaptive tool used especially by cities to overcome local water resource scarcity is the outsourcing of water resource impacts through substitutionary economic trade. This is generally understood as the indirect component of a water footprint, and as ';virtual water' trade. This work employs generalized CNH methods to reveal the trade in water resource impacts embedded in electrical energy within the Western US power grid, and utilizes a general equilibrium economic trade model combined with drought and demand growth constraints to estimate the future status of this trade. Trade in embedded water resource impacts currently increases total water used for electricity production in the Western US and shifts water use to more water-limited States. Extreme drought and large increases in electrical energy demand increase the need for embedded water resource impact trade, while motivating a shift to more water-efficient generation technologies and more water-abundant generating locations. Cities are the largest users of electrical energy, and in the 21st Century will outsource a larger fraction of their water resource impacts through trade. This trade exposes cities to risks associated with disruption of long-distance transmission and distant hydrological droughts.

Trading with energy derivatives in the U.S. electricity market : a NYMEX update

International Nuclear Information System (INIS)

Burke, L.

1998-01-01

This presentation provided a primer on futures and options trading, trading in energy derivatives and the role that NYMEX, the New York Mercantile Exchange plays in this area. Among many other concepts put and call options, the benefits of options, hedging, the characteristics of a hedge are defined, with an explanation of the significance and the application of these concepts in risk management. The nature of futures contracts for oil, natural gas and electricity, and the current status of the eastern and western electricity markets in the United States are also outlined. tabs., figs

Legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading; Marktmissbrauchsrechtliche Regelungen des WpHG und der REMIT-VO im Stromspothandel

Energy Technology Data Exchange (ETDEWEB)

Retsch, Alexander T.

2014-07-01

The thesis on legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading include the discussion of the following issues: market abuse, its forms of appearance (market manipulation, insider trade, insider information), electricity spot trading, relevant legislative frame, market abuse regulations (WpHG), interdiction of market manipulation and related regulations.

Short Term Electric Production Technology Switching Under Carbon Cap and Trade

Directory of Open Access Journals (Sweden)

Donald F. Larson

2012-10-01

Full Text Available This study examines fuel switching in electricity production following the introduction of the European Union’s Emissions Trading System (EU ETS for greenhouse gas emissions. A short-run restricted cost equation is estimated with carbon permits, high-carbon fuels, and low carbon fuels as variable inputs. Shadow values and substitution elasticities for carbon-free energy resources from nuclear, hydroelectric and renewable sources are imputed from the cost equation. The empirical analysis examines 12 European countries using monthly data on fuel use, prices, and electricity generation during the first phase of the European Emissions Trading System. Despite low emission permit prices, this study finds statistically significant substitution between fossil fuels and carbon free sources of energy for electric power production. Significant substitution between fossil fuels and nuclear energy also was found. Still, while 18 of the 20 substitution elasticities are statistically significant, they are all less than unity, consistent with limited substitution. Overall, these results suggest that prices for carbon emission permits relative to prices for carbon and carbon free sources of energy do matter but that electric power producers have limited operational flexibility in the short-run to satisfy greenhouse gas emission limits.

The Impact of the EU Emissions Trading System on CO{sub 2} Intensity in Electricity Generation

Energy Technology Data Exchange (ETDEWEB)

Widerberg, Anna (Dept. of Economics, Goeteborgs Univ., Goeteborg (Sweden)); Wraake, Markus (Swedish Environmental Research Institute Ltd., Stockholm (Sweden)). e-mail: markus.wrake@ivl.se

2009-07-15

Prior to the launch of the EU Emissions Trading System (EU ETS) in 2005, the electricity sector was widely proclaimed to have more low-cost emission abatement opportunities than other sectors. If this were true, effects of the EU ETS on carbon dioxide (CO{sub 2}) emissions would likely be visible in the electricity sector. Our study looks at the effect of the price of emission allowances (EUA) on CO{sub 2} emissions from Swedish electricity generation, using an econometric time series analysis for the period 2004-2008. We control for effects of other input prices and hydropower reservoir levels. Our results do not indicate any link between the price of EUA and the CO{sub 2} emissions of Swedish electricity production. A number of reasons may explain this result and we conclude that other determinants of fossil fuel use in Swedish electricity generation probably diminished the effects of the EU ETS

Ontario's intertie capacity and electricity trade in the interconnected system

International Nuclear Information System (INIS)

Dorey, S.

2002-01-01

Hydro One's capacity of existing interconnections were described. The Ontario utility is within reach of about 320 GW electricity markets in neighbouring Quebec, New York, Michigan, Minnesota, and Manitoba. It is also within reach of 50 million customers, and 30 per cent of total U.S. energy consumption. The author emphasized the need for expanded interties and new interconnections. The status of new interconnections was described along with the rules regarding electric power import, export and wheeling. It was noted that compared to the United States, Canada has a higher proportion of clean hydro and nuclear power plants in its mix of power generation. Markets across North America are adopting electricity restructuring and open competition. However, the transmission grids were not designed to support market-driven electricity trading. Most transmission grids were built when utilities were tightly regulated and provided service only within their assigned regions. The current energy infrastructure is not equipped for large-scale swapping of power in competitive markets. It was also noted that growth in US power flows is outpacing transmission investment. This paper addressed the issue of license requirements, transmitter proposals for regulated investments, and non-rate base transmitter investments. It was concluded that while market rules are flexible enough to encourage inter-jurisdictional trade, the rules have to facilitate and encourage transmission investment. 8 figs

Africa's intra-regional, inter-regional and intercontinental electricity trade - Techno-politico-economic considerations and future prospects

Energy Technology Data Exchange (ETDEWEB)

Ram, Babu

2007-07-01

The majority of Africa's population does not have access to electricity. The Sub-Saharan African is largely hit save South Africa. Among the many reasons for this situation, the major one is: the insufficient growth of the investment against the demand of electricity. This is to say that the investment has not been able to keep pace with the demand which has been rising with the growing population and with the economic activities. As a result, there is a backlog of investment. To circumvent this situation, 4 billion dollar annual investment is needed in the electricity sector. But the risks and high transaction costs of African economies deter investors and are relatively unable to attract them. Furthermore, a number of African economies are small due to which the benefits of the economy of scale are not realizable. Moreover, isolated and individualistic planning makes countries incur huge investment and makes the supply of electricity to disadvantaged areas even costlier. The supply costs can be reduced by invoking meticulously to coordinated combined planning and regional integration. New Partnership for Africa's Development (NEPAD) advocates a development paradigm based on the principles of interdependence, cooperation, and regional integration. However, the absence of infrastructure and institutions and harmonized policies obstruct the integration of electricity supply systems. Creating regional electricity markets is a way to reduce risks and transaction costs and to lure investors to develop much needed electricity generation and transmission facilities for increasing electricity access in rural areas. This paper extends the themes of regional integration to establishing the regional electricity markets/power pools. It considers the intra-regional and inter-regional electricity trade in Africa. It also considers Africa's inter-continental trade that is its trade with Europe and Asia. This paper examines technical constraints, proposes solutions

The surveillance of the electricity wholesale market and emission trading market; Die Ueberwachung von Stromgrosshandelsmarkt und Emissionshandelsmarkt

Energy Technology Data Exchange (ETDEWEB)

Luedemann, Volker [Hochschule Osnabrueck (Germany). Forschungszentrum Energiewirtschaft/Energierecht (fee); Hochschule Osnabrueck (Germany). Wirtschafts- und Wettbewerbsrecht; Konar, Selma [Sozietaet Becker Buettner Held, Muenchen (Germany)

2015-05-15

The Regulation on Wholesale Market Integrity and Transparency (REMIT) and the German Law on the Establishment of a Market Transparency Office for Wholesale Trade in Electricity and Gas (MTS-G) have fundamentally changed the surveillance of electricity wholesale trade in Germany. From now on the Federal Network Agency and the Federal Cartel Office will be jointly responsible for monitoring the electricity wholesale trade for suspicious market phenomena and abusive behaviour. The REMIT specifies that the electricity trade must be surveilled ''with due consideration to interactions'' with the emission trade system. However, occurrences observed in recent years have shown that the emission trading system is in need of reform. This has also been recognised and has prompted extensive corrective action by the regulatory authorities of the European Union. These changes have yet to be transposed into the national surveillance regimes. The present article explains why the new role accorded to the Federal Network Agency under the REMIT fails to eliminate the structural shortcomings of the old surveillance system. At least the decision to put the collection and evaluation of data exclusively in the hands of the market transparency office and the cooperation this will prompt between the supervisory authorities responsible will make the task of surveilling the energy wholesale trading market a lot easier for the authorities. The energy transition and its exigencies will yet lead to further changes in the market and its surveillance regime.

75 FR 12737 - Applications To Export Electric Energy; Noble Energy Marketing and Trade Corp.

Science.gov (United States)

2010-03-17

... impact on the reliability of the U.S. electric power supply system. Copies of this application will be... DEPARTMENT OF ENERGY [OE Docket Nos. EA-363 and EA-364] Applications To Export Electric Energy; Noble Energy Marketing and Trade Corp. AGENCY: Office of Electricity Delivery and Energy Reliability...

47 CFR 2.924 - Marketing of electrically identical equipment having multiple trade names and models or type...

Science.gov (United States)

2010-10-01

... Authorizations § 2.924 Marketing of electrically identical equipment having multiple trade names and models or... 47 Telecommunication 1 2010-10-01 2010-10-01 false Marketing of electrically identical equipment having multiple trade names and models or type numbers under the same FCC Identifier. 2.924 Section 2.924...

Green certificate trading in the Netherlands in the prospect of the European electricity market

International Nuclear Information System (INIS)

Dinica, Valentina; Arentsen, Maarten J.

2003-01-01

The support system for green electricity in the Netherlands has been one of the most complex and complicated systems across Europe. A voluntary trade of green certificates--or green labels--was one of the schemes used in the policy models of the 1990s. The liberalization of the electricity market has attracted substantial changes in the degree and nature of commitment by energy companies and political authorities for renewable electricity. In 2001, a new mechanism for the voluntary trade of green certificates has become operational, replacing the green label trade system one terminated in the end of 2000. This paper presents the two systems of green certificates' trade developed in the Netherlands and discusses their market stimulation potential in the very different economic and industrial circumstances that has surrounded each of them. The paper argues for a need to enable a support system that reduces investment risks as much as possible, and removes the residual, but still strong, institutional, administrative and social barriers for renewables' deployment. But before this, a clear governmental vision on the role of renewables in current energy supply systems is first needed, backed by a coherent policy and sufficient support along the economic dimension of renewables' market diffusion

Dynamic Interaction between Cap & Trade and Electricity Markets

Science.gov (United States)

Jeev, Kumar

Greenhouse Gases (GHG), such as Carbon-Dioxide (CO2), which is released in the atmosphere due to anthropogenic activities like power production, are now accepted as the main culprits for global warming. The Regional Greenhouse Gas Initiative (RGGI), an initiative of the North East and Mid-Atlantic States of the United States (US) for limiting the emission of GHG, has developed a regional cap-and-trade program for CO2 emissions for power plants. Existing cap-and-trade programs in US and Europe for Greenhouse Gases have recently been plagued by over-allocation. Carbon prices recently collapsed in all these markets during the global recession. Since then, there have been significant policy changes, which have resulted in the adoption of aggressive emission cap targets by most major carbon emission markets. This is expected to make carbon emissions availability more restrictive, raising the prices of these credits. These emissions markets are expected to have a major impact on the wholesale electricity markets. Two models to study the interaction of these two markets are presented. These models assess the impact of the emissions market on wholesale electricity prices. The first model characterizes the competition between two types of power plants (coal and gas) in both the electricity and emissions markets as a dynamic game using the Cournot approximation. Under this approximation, we find that in the Nash equilibrium the plants increase their permit allocation to high-demand periods and the marginal value of each credit for a plant is identical in all periods under their optimal equilibrium strategy. The second numerical model allows us to explicitly evaluate the closed loop equilibrium of the dynamic interaction of two competitors in these markets. We find that plants often try to corner the market and push prices all the way to the price cap. Power plants derive most of their profits from these extreme price regimes. In the experiments where trading is allowed

Renewable energy burden sharing. REBUS. Effects of burden sharing and certificate trade on the renewable electricity market in Europe

International Nuclear Information System (INIS)

Voogt, M.H.; Uyterlinde, M.A.; De Noord, M.; Skytte, K.; Nielsen, L.H.; Leonardi, M.; Whiteley, M.H.; Chapman, M.

2001-05-01

Creation of an internal market for renewable electricity will involve a political negotiation process, similar to previous European Union (EU) greenhouse gas negotiations. The Energy Ministers in the EU have agreed upon an overall target of 22% of electricity supply from Renewable Energy Sources (RES-E) and a distribution of targets over the individual Member States. The REBUS project provides insights in the effects of implementing targets for renewable electricity generation at EU Member State level and the impact of introducing burden sharing systems within the EU, such as a Tradable Green Certificate (TGC) system. Member States can participate in such burden sharing systems to reduce the costs of achieving RES-E targets. The project concentrated on the development of the REBUS model, which quantifies the impact of trade (in green certificates, quotas or targets), the specification of cost potential curves for renewable electricity options in each of the 15 EU Member States and the implementation of different rules to setting targets at individual Member State level. In addition, utilities and consumer organisations were interviewed on their requirements and expectations for an international burden sharing scheme. 49 refs

Internalizing carbon costs in electricity markets: Using certificates in a load-based emissions trading scheme

International Nuclear Information System (INIS)

Gillenwater, Michael; Breidenich, Clare

2009-01-01

Several western states have considered developing a regulatory approach to reduce greenhouse gas (GHG) emissions from the electric power industry, referred to as a load-based (LB) cap-and-trade scheme. A LB approach differs from the traditional source-based (SB) cap-and-trade approach in that the emission reduction obligation is placed upon Load Serving Entities (LSEs), rather than electric generators. The LB approach can potentially reduce the problem of emissions leakage, relative to a SB system. For any of these proposed LB schemes to be effective, they must be compatible with modern, and increasingly competitive, wholesale electricity markets. LSE's are unlikely to know the emissions associated with their power purchases. Therefore, a key challenge for a LB scheme is how to assign emissions to each LSE. This paper discusses the problems with one model for assigning emissions under a LB scheme and proposes an alternative, using unbundled Generation Emission Attribute Certificates. By providing a mechanism to internalize an emissions price signal at the generator dispatch level, the tradable certificate model addresses both these problems and provides incentives identical to a SB scheme

Large-scale wind power integration and wholesale electricity trading benefits: Estimation via an ex post approach

International Nuclear Information System (INIS)

Gil, Hugo A.; Gomez-Quiles, Catalina; Riquelme, Jesus

2012-01-01

The integration of large-scale wind power has brought about a series of challenges to the power industry, but at the same time a number of benefits are being realized. Among those, the ability of wind power to cause a decline in the electricity market prices has been recognized. In quantifying this effect, some models used in recent years are based on simulations of the market supply-side and the price clearing process. The accuracy of the estimates depend on the quality of the input data, the veracity of the adopted scenarios and the rigorousness of the solution technique. In this work, a series of econometric techniques based on actual ex post wind power and electricity price data are implemented for the estimation of the impact of region-wide wind power integration on the local electricity market clearing prices and the trading savings that stem from this effect. The model is applied to the case of Spain, where the estimated savings are compared against actual credit and bonus expenses to ratepayers. The implications and extent of these results for current and future renewable energy policy-making are discussed. - Highlights: ► Wholesale electricity market trading benefits by wind power are quantified. ► Actual wind power forecast-based bids and electricity price data from Spain are used. ► Different econometric tools are used and compared for improved estimation accuracy. ► Estimated benefits outweigh current credit overhead paid to wind farms in Spain. ► An economically efficient benefit surplus allocation framework is proposed.

Seamless electricity trade between Canada and US Northeast

International Nuclear Information System (INIS)

Bernard, J.-T.; Clavet, Frederic; Ondo, J.-C.

2005-01-01

We analyze how the wholesale electricity market deregulation could modify exchanges between three Canadian regions (Ontario, Quebec and New Brunswick) and two US regions (New York and New England), on the base of their loads and available resources when the regulatory change took place in 1997. We find that the pre-1997 exchanges already made possible fuel cost savings of $397.2 million per year while deregulation adds annual savings of $358.7 million. Canadian regions are the main beneficiaries under the assumption that exports are priced at the marginal costs of the importing regions. Imports from the Canadian regions, although significant, are not large enough to lower the marginal costs of the US regions. Hence electricity deregulation across the border should not significantly decrease prices in the US regions although the latter are becoming more dependent upon imports from Canada. Greenhouse gas emissions increase by 4.3 Mt CO 2 eq. in the wake of the open wholesale electricity market because of the low cost of coal, particularly in Ontario. Environmental concerns and the limited availability of additional hydroelectric power in Canada could change the trade patterns as electricity demand continue to grow

CO2 trading and its influence on electricity markets. Final report for DTe

International Nuclear Information System (INIS)

Franke, M.

2006-02-01

The Dutch Ministry of Economics has asked the Dutch energy regulator (DTe) to gather factual information about the impact of the introduction of the European CO2 emission trading scheme (EU ETS) on the functioning of the Dutch wholesale electricity market and, in particular, to estimate the extent of windfall profits that generators may have realised as a consequence of the EU ETS. DTe has in turn appointed Frontier Economics to assist in the preparation of its advice to the Ministry. Separately, but as a parallel task, DTe has also asked us to provide guidance on the way in which DTe should monitor the performance of the wholesale electricity market in an era of CO2 trading. Section 2 describes the EU ETS, as background to the study. The section describes the institutional context, the way that the emission trading system has generally been implemented at a national level, and the way that the price of European Union Allowances (EUAs or allowances) has developed historically. Section 3 describes the way in which the EU ETS has had an impact on the Dutch electricity market including: the allocation of EUAs to the power sector in the Netherlands; the (theoretical) impact of the EU ETS on electricity generators' incentives; evidence on generators' behaviour; and the empirical evidence of the relationship between EUA prices and electricity prices (or spark and dark spreads). Section 4 provides a conceptual framework for the estimation of windfall profits. Section 5 deals with detailed assumptions that we have made and data issues we have encountered in our attempts to estimate windfall profits; and Section 6 presents and discusses our estimates of windfall profits

Emissions trading in the context of electricity deregulation : a case study on Ontario

International Nuclear Information System (INIS)

Johns, G.

2003-01-01

This presentation discussed the deregulation of the electric power industry in Ontario and Alberta with particular reference to emissions trading, emissions profiles for the two provinces, and current market rules. It was noted that deregulation in Ontario is the major impetus for developing an emission trading system. Alberta is also in the process of developing an emission trading system for all industry sectors. The author discussed Ontario's Bill 210 which places a 6 year cap on prices and which offers tax incentives for renewable energy sources. It was argued that Bill 210 negates new generation and inhibits participants and competition in emissions trading market. Ontario generators face competitiveness concerns with neighbouring jurisdictions. Current market rules were outlined for emission caps, allocation for nitrogen oxide and sulfur dioxide allowances, credit creation, emission trading, and credit use. 6 figs

Energy trading

International Nuclear Information System (INIS)

Glachant, J.M.; Kimman, R.; Schweickardt, H.E.

2001-05-01

This document brings together 18 testimonies of experts about energy trading: 1 - the energy trading experience on European deregulated markets: structure of deregulated energy markets in Europe, case study: a two years experience of a power exchange in western Europe, case study: European energy exchanges (experience of spot and future trading), case study: risk management on energy deregulated markets; 2 - the trading activity environment and realities in France: the French electrical law and the purchase for resale, experience feedback: status after 3 months of trading in France (the first experience of a French producer), the access to the power transportation network, which legal constraints for trading in France, the access of eligible clients to the French power market, conditions of implementation of a power exchange market in France, which real trading possibilities in France for producers and self-producers in the legal frame, case study: the role of trading in the company (main part or link to process), convergence of gas and electricity markets, gas-electricity trading: which pricing models; 3 - risk management and use of new technologies potentiality, the results outside the French borders: case study: what differences between the European and US markets, prices volatility and commodity risk management: towards the on-line trading, role and developments of E-business in energy trading, how to simplify trade in a liberalized market. (J.S.)

78 FR 28190 - Authorization of Production Activity; Foreign-Trade Subzone 29C; GE Appliances (Electric Water...

Science.gov (United States)

2013-05-14

... DEPARTMENT OF COMMERCE Foreign-Trade Zones Board [B-7-2013] Authorization of Production Activity; Foreign-Trade Subzone 29C; GE Appliances (Electric Water Heaters); Louisville, Kentucky On January 7, 2013, GE Appliances, operator of Subzone 29C in Louisville, Kentucky, submitted a notification of proposed...

The electricity exchange. On the organisation and latent functions of electricity exchange trading as seen from the viewpoint of market sociology; Die Stromboerse. Ueber Form und latente Funktionen des boerslichen Stromhandels aus marktsoziologischer Sicht

Energy Technology Data Exchange (ETDEWEB)

Giacovelli, Sebastian

2014-07-01

Electricity exchange trading in Germany has existed since the year 2000. Since this time, the Leipzig electricity exchange, a reference market for off-exchange electricity trading, has operated in an environment marked by both criticism and acceptance. Taking this field of controversy as a point of departure the present empirical study in market sociology undertakes to investigate the organisation and latent functions of electricity exchange trading. The ensuing analysis provides answers to questions as to how prices are formed on the electricity exchange and what officially incommunicable functions are served by price formation on exchanges.

Australian Apprentice & Trainee Statistics: Electrical and Electronics Trades, 1995 to 1999. Australian Vocational Education & Training.

Science.gov (United States)

National Centre for Vocational Education Research, Leabrook (Australia).

Statistics regarding Australians participating in apprenticeships and traineeships in the electrical and electronics trades in 1995-1999 were reviewed to provide an indication of where skill shortages may be occurring or will likely occur in relation to the following occupations: electrical engineering associate professional; electronics…

Assessing the impact of forward trading, retail liberalization, and white certificates on the Italian wholesale electricity prices

International Nuclear Information System (INIS)

Petrella, Andrea; Sapio, Alessandro

2012-01-01

How do policy actions affect the dynamics of deregulated electricity prices? We investigate this issue in the context of the Italian Power Exchange (IPEX), using data on the daily average day-ahead price (PUN) between April 2004 and December 2008. Estimates of baseline time series models (SARMAX and SARMAX-EGARCH) and their forecasting performances suggest that the trend in natural gas prices, market power indicators, deterministic weekly patterns, perceived temperatures, persistence in conditional volatility, and the inverse leverage effect are essential features of the PUN dynamics. We then augment the best-performing models with dummies that account for changes in the market architecture, such as the introduction of contracts for differences (CfDs) to support renewables, trading of white certificates for energy efficiency, and the demand-side liberalization. The findings show that changes in the market architecture affected both the PUN level and its volatility. Specifically, wholesale electricity prices and volatility appear to have decreased upon the introduction of CfDs, only to be pushed upwards following the start of white certificates' trading and retail liberalization. Moreover, after controlling for reforms the inverse leverage effect vanishes, and the persistence in volatility is lower than in the baseline estimates. - Highlights: ► We model Italian wholesale power prices using SARMAX and EGARCH models. ► We assess the price impact of contracts for differences, retail liberalization, white certificates. ► The electricity price level and its volatility have increased after the adoption of contracts for differences. ► Following retail liberalization and the start of white certificates trading, the price level and its volatility have increased.

Working group on unbundling of electricity trade operations 2. A group report

International Nuclear Information System (INIS)

2000-09-01

The current unbundling of operations in accounts has proved inadequate. No formula or model that could be made binding by provisions have been defined for unbundled accounts. In addition, unbundling can draw a distinct line between commercial activities and network operations, which have assumed various authoritative functions. Against this background, the need for clearer unbundling has become more marked. The working group suggests that the current provisions on unbundling of trade operations should be tightened and that the unbundling should be made clearer especially in terms of allocation of joint costs. For this, the necessary preparations by the authorities should be initiated urgently. At the same time, the working group proposes that network operations should be unbundled from other operations by incorporation or by unbundling them into a separate public utility. The smallest electric utilities should be exempted from the obligation of incorporating network operations. According to the working group, the lower limit could be fixed e.g. at 70 GWh a year. The working group also suggests that the licensees must own the electricity networks they operate. The licensees could not rent their networks from the mother company nor lease them from a financing company. The model proposed by the working group would redress the major problems connected with the supervision of the electricity market. The monopoly, i.e. the electricity network operations, under the supervision of the Electricity Market Authority could thus be unbundled. This would improve the functioning of the market and facilitate the supervision. However, the model would not abolish the tax concession of municipal public utilities in competitive trade operations, production and sale of electricity. The tax concession may affect the competitive situation on the electricity market. (orig.)

Evaluation of CO2 free electricity trading market in Japan by multi-agent simulations

International Nuclear Information System (INIS)

Sichao, Kan; Yamamoto, Hiromi; Yamaji, Kenji

2010-01-01

As of November 2008, a new market, the CO 2 free electricity market, started pilot trading within the Japan Electric Power Exchange (JEPX). The electricity in this market comes from renewable resources, nuclear or fossil thermal power with CDM credits. The demanders of the CO 2 free electricity are supposed to be the power companies with high emission rates. In this paper, we analyzed the effects of the new market by using a multi-agent based model to simulate the markets. From our simulation results, we found that the demander, under strict CO 2 emission regulations, tends to buy more electricity from the new CO 2 free market even though the price of this market is higher than that of the normal power exchange market. Suppliers with hydro or nuclear power plants only sell their electricity to the CO 2 free market, and suppliers with coal power plants also enter this market (with CDM credits). The media and peak demands in the normal market are met mainly by electricity from LNG power plants. We also compared the results from the multi-agent approach with those from the least-cost planning approach and found that the results of the two methods were similar. (author)

Trade-offs and synergies between universal electricity access and climate change mitigation in Sub-Saharan Africa

NARCIS (Netherlands)

Dagnachew, Anteneh G.; Lucas, Paul L.; Hof, Andries F.; van Vuuren, Detlef P.

2018-01-01

Access to electricity services is fundamental to development, as it enables improvements to the quality of human life. At the same time, increasing electricity access can have notable consequences for global climate change. This paper analyses trade-offs and synergies between achieving universal

CO2 price dynamics. The implications of EU emissions trading for electricity prices and operations

International Nuclear Information System (INIS)

Sijm, J.P.M.; Bakker, S.J.A.; Harmsen, H.W.; Lise, W.; Chen, Y.

2006-07-01

The experience with CO 2 trading and allowances prices in the last year is reviewed, with a focus on the factors influencing the price of electricity in EU countries. A statistical analysis investigates the relationship between the large increases in electricity prices experienced in 2005 and their relationship to CO 2 prices. In addition, a market simulation analysis using the COMPETES model is performed to assess the extent to which profit-maximizing generators, some of which possess market power, might pass on the opportunity cost of allowances to consumers. The paper concludes by reviewing possible options for policy makers to address the possible adverse implications of price increases caused by CO/sub 2/ trading.

Gas fair and electricity : Speaker presentations of the 6. annual North American natural gas and electricity conference and trade fair

International Nuclear Information System (INIS)

Anon.

1997-01-01

Future prospects of North American natural gas and electric utilities following deregulation, competition and restructuring have been the principal topics of the 22 papers presented at the 6. North American Natural Gas and Electricity Conference and Trade Fair. Progress in some of the major pipeline projects that will bring Canadian gas to US markets, other pipeline issues, energy financing and the impact of technology in this new era of competition also received attention. figs

An emissions trading scheme design for power industries facing price regulation

International Nuclear Information System (INIS)

Kim, Yong-Gun; Lim, Jong-Soo

2014-01-01

The electricity market, monopolistic in nature, with government price regulation, poses a serious challenge for policy makers with respect to the cost-effectiveness of emissions trading, particularly in Asian countries. This paper argues that a cap-and-trade regulatory system for indirect emissions combined with a rate-based allocation system for direct emissions can achieve market efficiency even in the presence of price and quantity controls in the electricity market. This particular policy mix could provide appropriate incentives for industries to reduce their electricity consumption while inducing power producers to reduce their direct carbon emissions cost-effectively in conditions where there is strict government control of electricity prices. Another advantage of the suggested policy mix is that it allows carbon leakage in cross-border power trades to be effectively eliminated. - Highlights: • A rate-based allocation induces power producers to minimize direct emissions. • A cap-and-trade on indirect emission induces firms to reduce electricity consumption. • These two can jointly achieve market efficiency even in the regulated power market

The effects of competing trade regimes on bilateral trade flows: case of Serbia

Directory of Open Access Journals (Sweden)

Predrag Bjelić

2012-12-01

Full Text Available The aim of this paper is to investigate the effects of competing trade regimes on Serbian trade with its most significant (traditional partners, like European Union and CEFTA 2006 signatories, and other untraditional trade partners with favourable trade regime, like the USA. To this end, gravity model with bilateral and time effects is estimated by Hausman-Taylor AR(1 instrumental variable estimator, using panel data on bilateral trade between Serbia and its main trade partners during the period 2001-2010. The results indicate that overall level of development and difference in factor endowments stimulate Serbia’s exports, which is in accordance with theoretical foundation that inter-industry trade is predominant in exports of less developed countries. Moreover, competing trade regimes appear as important determinant of Serbia’s trade relations, whereas additional liberalization of trade regime with the USA as untraditional trade partner, even asymmetrical to Serbia’s favour, cannot divert trade flows from traditional partners in the long-run. This could mean that distance plays more prominent role in bilateral trade than the degree of liberalization of trade regimes in case of Serbia. The result could be due to the contemporaneous effects of trade preferences granted to Serbia by the EU and other CEFTA 2006 signatories, main trading partners of Serbia.

Description of the electric power and energy trade in Finland

International Nuclear Information System (INIS)

Komulainen, K.

1992-01-01

The Finnish State has traditionally controlled the import of electricity, larger related investments and pricing. Lately, a market orientated economic policy has influenced energy policy and the amount of state control has gradually decreased. Decisions have yet to be made with regard to the fifth nuclear power reactor. The paper deals briefly with the subjects of the electric power, natural gas and oil markets. Finland's transmission network has connections to the former Russia and the Baltic countries. According to agreements within the European Community, Finland must now make changes in its electric power supply structure. Competition will be encouraged and monopolies discouraged. Pricing shall be transparent, and power plants must present written documentation for their management system, price regulations etc. A law must be passed to legitimate trade across the country's borders. Emphasis will be laid on energy conservation and energy research and consultant services. It is claimed that Finland's level of technology in this area lives up to international standards. (AB)

Trade Integration Effects in ASEAN Countries

Directory of Open Access Journals (Sweden)

Yana Valeryevna Dyomina

2015-09-01

Full Text Available The paper examines evolution of trade integration process in ASEAN. The author employs three methods in order to evaluate the degree of ASEAN‘s trade integration that has been achieved over two decades since the signing of the Association of South-East Asian Nations Free Trade Area Agreement (AFTA in 1992. The high degree of trade integration among member states allows moving to the next stage of international economic integration (ASEAN countries are going to form ASEAN Community (the Common Market by the 1st of January 2016. So the study assesses the ASEAN’s preparedness to the Common Market by determining the share of mutual (intraregional trade, regional trade intensity index (RTII and trade integration effects (trade creation and trade diversion effects for each member state, 2 groups of ASEAN countries (ASEAN-6 and ASEAN-4 and the Association as a whole. The paper shows that despite the increase in the share of intraregional trade during the years of the AFTA functioning, the member states of ASEAN still demonstrate low levels of trade integration: a 75% of the Association’s external trade focuses on extra regional partners; b ASEAN as a whole has the low volume of RTII and among its member states only Singapore has the high one; c trade diversion effect prevails over trade creation one

CO2-emission trading and green markets for renewable electricity. Wilmar - deliverable 4.1

DEFF Research Database (Denmark)

Azuma-Dicke, N.; Morthorst, Poul Erik; Ravn, H.F.

2004-01-01

This report is Deliverable 4.1 of the EU project “Wind Power Integration in Liberalised Electricity Markets” (WILMAR) and describes the application of two policy instruments, Tradable Emissions Permits (TEP’s) and Tradable Green Certificates (TGC’s) forelectricity produced from renewable energy...... sources in the European Union and the implications for implementation in the Wilmar model. The introduction of a common emission-trading system in the EU is expected to have an upward effect on the spot pricesat the electricity market. The variations of the spot price imply that some types of power...... generation may change the situation from earning money to losing money despite the increasing spot price. Heavy restrictions on emissions penalise thefossil-fuelled technologies significantly, and the associated increase in the spot price need not compensate for this. Therefore, a market of TEP’s is expected...

Does trade liberalization effect energy consumption?

International Nuclear Information System (INIS)

Ghani, Gairuzazmi M.

2012-01-01

The effect of trade liberalization on the environment can be directly linked to energy consumption, because energy consumption and production are the underlying cause of most pollutants that harm the environment. The descriptive statistics show that average annual growth of energy consumption per capita after trade liberalization varies among countries; hence it is a possibility that the effect of trade liberalization is conditional on factors other than liberalization per se. The regression results show that trade liberalization per se does not affect the growth of energy consumption of the developing countries analyzed, but its interaction with capital per labor reduces the growth of energy consumption as capital per labor increases. However, the effect is only significant after a certain minimum threshold level capital per labor is reached. On the other hand, economic growth increases energy consumption and its effect is not conditioned on trade liberalization. These two different effects mean that, with regards to energy consumption, countries at a higher level of economic development are more likely to reap the benefit of liberalization relative to less developed countries. - Research highlights: ► This paper examines the effect of trade liberalization on energy consumption. ► Developed countries are more likely to reap the benefit of trade liberalization. ► Growth of energy consumption after trade liberalization varies among countries. ► Interaction of capital per labor with liberalization reduces energy consumption.

Development of renewable energy resources in Afghanistan for economically optimized cross-border electricity trading

Directory of Open Access Journals (Sweden)

Mohammad Masih Sediqi

2017-07-01

Full Text Available Afghanistan is a key country between energy surplus areas (Central Asian Republics andIran and energy deficit regions (Pakistan and India. It is in a position that can facilitate and launchregional electricity trade for the benefit of the region also derive significant gains for its own economyfrom energy imports and exports. On the other hand, Afghanistan is endowed with large renewableenergy resources (RERs, which it could exploit not only to satisfy its domestic power demand butalso to earn significant export revenue. This paper firstly explains the methodology and framework forthe power trade and then presents an optimization framework for profit maximization in the short-runtrading and cost minimization in the long-run trading. The proposed methodology is applied to a realcase between Afghanistan and Pakistan. The objective functions, parameters, variables and constraintsare described for both optimization models. System sizing, simulation and optimization are carriedout using genetic algorithm (GA technique. The results in the short-run model represent optimalityof about 2654 MW electricity export from Afghanistan to Pakistan during summer. Moreover, resultsderived from running long-run model depict that by utilizing its RERs such as solar, wind and hydro,Afghanistan can not only meet its power demand but also can export to Pakistan during its deficitperiods and gain remarkable energy profits.

Sulfur dioxide allowances. Trading and technological progress

International Nuclear Information System (INIS)

Kumar, Surender; Managi, Shunsuke

2010-01-01

The US Clean Air Act Amendments introduce an emissions trading system to regulate SO 2 emissions. This study finds that changes in SO 2 emissions prices are related to innovations induced by these amendments. We find that electricity-generating plants are able to increase electricity output and reduce emissions of SO 2 and NO x from 1995 to 2007 due to the introduction of the allowance trading system. However, compared to the approximate 8% per year of exogenous technological progress, the induced effect is relatively small, and the contribution of the induced effect to overall technological progress is about 1-2%. (author)

Congestion management rules and trading strategies in the Spanish electricity market

Energy Technology Data Exchange (ETDEWEB)

Furio, Dolores; Lucia, Julio J. [Departamento de Economia Financiera y Actuarial, Universidad de Valencia, Avda. Los Naranjos, s/n, 46022 - Valencia (Spain)

2009-01-15

This paper analyses the economic incentives embodied in the rules governing the resolution of transmission constraints in the Spanish wholesale electricity market and the way these incentives may have influenced on the trading behaviour of both the generators and the demand side. The evidence obtained is consistent with them responding to these incentives. In particular, buyers would respond to the way congestion costs are billed to them by abandoning the daily market in favour of the intraday market as far as possible. Additionally, some strategic generators may have been prompted the system operator to require them to inject electricity into the system to solve network congestions. Finally, these results may contribute to shed light on what should be expected of the reform in the aforementioned rules. (author)

Congestion management rules and trading strategies in the Spanish electricity market

International Nuclear Information System (INIS)

Furio, Dolores; Lucia, Julio J.

2009-01-01

This paper analyses the economic incentives embodied in the rules governing the resolution of transmission constraints in the Spanish wholesale electricity market and the way these incentives may have influenced on the trading behaviour of both the generators and the demand side. The evidence obtained is consistent with them responding to these incentives. In particular, buyers would respond to the way congestion costs are billed to them by abandoning the daily market in favour of the intraday market as far as possible. Additionally, some strategic generators may have been prompted the system operator to require them to inject electricity into the system to solve network congestions. Finally, these results may contribute to shed light on what should be expected of the reform in the aforementioned rules. (author)

Cross-border electricity market effects due to price caps in an emission trading system: An agent-based approach

International Nuclear Information System (INIS)

Richstein, Jörn C.; Chappin, Emile J.L.; Vries, Laurens J. de

2014-01-01

The recent low CO 2 prices in the European Union Emission Trading Scheme (EU ETS) have triggered a discussion whether the EU ETS needs to be adjusted. We study the effects of CO 2 price floors and a price ceiling on the dynamic investment pathway of two interlinked electricity markets (loosely based on Great Britain, which already has introduced a price floor, and on Central Western Europe). Using an agent-based electricity market simulation with endogenous investment and a CO 2 market (including banking), we analyse the cross-border effects of national policies as well as system-wide policy options. A common, moderate CO 2 auction reserve price results in a more continuous decarbonisation pathway. This reduces CO 2 price volatility and the occurrence of carbon shortage price periods, as well as the average cost to consumers. A price ceiling can shield consumers from extreme price shocks. These price restrictions do not cause a large risk of an overall emissions overshoot in the long run. A national price floor lowers the cost to consumers in the other zone; the larger the zone with the price floor, the stronger the effect. Price floors that are too high lead to inefficiencies in investment choices and to higher consumer costs. - Highlights: • Cross-border effects of CO 2 policies were investigated with an agent-based model. • The current EU ETS might cause CO 2 price shocks and CO 2 price volatility. • A CO 2 auction reserve price does not lower welfare, but lowers CO 2 price volatility. • A national CO 2 price floor lowers consumer cost in the other countries. • A CO 2 price ceiling does not lead to an overshoot of emissions

Teachers' and Students' Perception of Instructional Supervision on Capacity Building in Electrical Installation Trade

Science.gov (United States)

Eze, Ogwa Christopher

2015-01-01

This research was conducted to ascertain teachers' and students perception of instructional supervision in relation to capacity building in electrical installation trade in technical colleges. Three research questions and a null hypothesis were employed to guide the study. Descriptive survey was adopted. A 23-item questionnaire was used to elicit…

The Effects of International Trade on Water Use.

Science.gov (United States)

Kagohashi, Kazuki; Tsurumi, Tetsuya; Managi, Shunsuke

2015-01-01

The growing scarcity of water resources worldwide is conditioned not only by precipitation changes but also by changes to water use patterns; the latter is driven by social contexts such as capital intensity, trade openness, and income. This study explores the determinants of water use by focusing on the effect of trade openness on the degree to which water is withdrawn and consumed. Previous studies have conducted analyses on the determinants of water use but have ignored the endogeneity of trade openness. To deal with this endogeneity problem, we adopt instrumental variable estimation and clarify the determinants of water use. The determinants of water use are divided into scale, technique, and composition effects. Calculating each trade-induced effect, we examine how trade openness affects the degree of water use. Our results show that while trade has a positive effect on water withdrawal/consumption through trade-induced scale effects and direct composition effects, the trade-induced technique and the indirect composition effect, both of which exhibit a negative sign, counteract the scale effect and the direct composition effect, resulting in reduced water withdrawal/consumption. The overall effect induced by trade is calculated as being in the range of -1.00 to -1.52; this means that the overall effect of a 1% increase in the intensity of trade openness reduces the degree of water withdrawal/consumption by roughly 1.0-1.5%, on average. This result indicates that international bilateral trade would promote efficient water use through the diffusion of water-saving technologies and the reformation of industry composition.

Guaranteeing the implementation of guarantees of origin: Creating a fair mechanism for renewable electricity generation and trade in europe

International Nuclear Information System (INIS)

Houwing; Michiel; Vries, Laurens J. de

2005-01-01

With the Renewables Directive (2001/77/EC) the EU has obliged its Member States to implement the Guarantees of Origin (GO) policy instrument into their national renewable electricity support schemes. Compared to formerly existing policy instruments as tradable green certificates, GOs can in a Union broad quota obligation scheme, for example, prove to be of major value in arriving at a more transparent and efficient way of trading renewable electricity. This paper gives an overview of the most important hurdles still to be addressed, mainly being double counting issues and policy interactions. When more clarity is given from the Commission in the future and when more EU Member States implement GOs beyond the minimum requirements, international trading of renewable electricity can become truly feasible. (Author)

Understanding the effect of an emissions trading scheme on electricity generator investment and retirement behaviour: the proposed carbon pollution reduction scheme

Energy Technology Data Exchange (ETDEWEB)

Lambie, N.R. [Australian National University, Canberra, ACT (Australia). Crawford School of Economics & Government

2010-04-15

The objective of a greenhouse gas (GHG) emissions trading scheme (ETS) is to reduce emissions by transitioning the economy away from the production and consumption of goods and services that are GHG intensive. A GHG ETS has been a public policy issue in Australia for over a decade. The latest policy initiative on an ETS is the proposed Carbon Pollution Reduction Scheme (CPRS). A substantial share of Australia's total GHG reduction under the CPRS is expected to come from the electricity generation sector. This paper surveys the literature on investment behaviour under an ETS. It specifically focuses on the relationship between the design of an ETS and a generator's decisions to invest in low emissions plant and retire high emissions plant. The proposed CPRS provides the context for presenting key findings along with the implications for the electricity generation sector's transition to lower emissions plant. The literature shows that design features such as the method of allocating permits, the stringency of the emissions cap along with permit price uncertainty, provisions for banking, borrowing and internationally trading permits, and the credibility of emissions caps and policy uncertainty may all significantly impact on the investment and retirement behaviour of generators.

The cross-border opportunity on how to enhance Canada-US energy trade : Panel 1 : the prospects for increased trade

International Nuclear Information System (INIS)

LeCroy, J.; Power, R.; Pumphrey, D.; Flack, G.; McFadden, D.

2006-01-01

The electricity trade between Canada and the United States was discussed with reference to the integrated electricity networks and strong interdependence between the 2 countries on the uninterrupted flow of electricity. As Canada supplies electricity to more than 30 U.S. states, there is good reason to foster cooperation in energy efficiency, natural gas supplies, technology advancements and critical infrastructure protection. The first panel discussion on cross-border opportunities identified prospects for increased trade between Canada and the United States. It was noted that despite the proximity of the 2 countries, the regulatory environment and infrastructure are not well integrated. In addition to being difficult to achieve, a coherent energy policy would likely be driven by the United States rather than Canada. Although both countries rank high in energy production and consumption, United States ranks eleventh in oil reserves and sixth in natural gas, compared to Canada ranking second in oil reserves. Energy trade is essential to the economies of both countries and the infrastructure binds the 2 economies together. The partnership in developing the Electric Reliability Organization has resulted in regulatory transparency. Special working groups have been formed to help Mexico deal with natural gas challenges and investment needs. All 3 countries are looking at liquefied natural gas. The United States is also working with Canada in developing an infrastructure for the oil sands. The progress in developing the Mackenzie Delta gas fields was also discussed along with the division of opinion regarding nuclear power generation. It was noted that an increase in electricity demand will drive both new generation and transmission. It was also noted that effective reliability standards are essential to cross-border trade in a market-based trade approach. 5 figs

Carbon mitigation in the electric power sector under cap-and-trade and renewables policies

International Nuclear Information System (INIS)

Delarue, Erik; Van den Bergh, Kenneth

2016-01-01

In Europe, CO_2 emissions from the electric power sector and energy intensive industries are capped under a cap-and-trade system (i.e., the EU ETS). When other indirect measures are taken to impact emissions in a specific sector under the cap (such as a push for renewables in the electric power sector), this has implications on the overall allowance price, and on CO_2 emissions both from this specific sector and the other sectors under the cap. The central contribution of this paper is the derivation of impact curves, which describe these interactions, i.e., the impact on allowance price and the shift of emissions across sectors. From a set of detailed simulations of the electric power system operation, a so-called “emission plane” is obtained, from which impact curves can be derived. Focus is on interactions between CO_2 abatement through fuel switching and measures affecting the residual electricity demand (such as deployment of renewables) in the electric power sector, as well as on interactions with other sectors, both in a short-term framework. A case study for Central-Western Europe is presented. The analysis reveals a substantial impact of renewables on CO_2 emissions, and hence on emissions shifts across sectors and/or on the CO_2 price. - Highlights: •CO_2 cap-and-trade interacts with policies targeting one specific sector under cap. •Interaction creates emission displacement and/or impacts CO_2 price. •The central contribution is the derivation of impact curves from the emission plane. •The method is applied to a case study of Central-Western Europe. •The analysis reveals a large impact of renewables on CO_2 displacement and/or price.

Proceedings of the 11. annual North American natural gas and electricity market conference and trade show : GasFair power 2002. CD-Rom ed.

International Nuclear Information System (INIS)

2002-01-01

The electricity market is undergoing changes, from deregulation to competition and convergence. This conference provided an opportunity for North American natural gas and electricity industries representatives and stake holders to share their views concerning the many challenges, issues and opportunities in this field. Emerging market developments, issues and strategies are some of the topics discussed during this conference and trade show. The organizers placed emphasis on energy purchasers and managers, and the opportunities facing them for the improvement of their company's financial health by means of savings on natural gas costs and electricity purchases. In addition, there are several opportunities for improved energy efficiency and technologies and integrated energy and risk management programs which were all discussed. The economic challenges and opportunities arising from the supply, demand, marketing and pricing for gas and power products and services facing energy marketers, traders, producers, utilities and transporters were addressed. A detailed and practical examination of ways by which energy consumers can address issues of volatile gas and power prices was provided. Effective, cost saving purchasing options and risk management strategies and tools, contracting, outsourcing, aggregating and cost-effective energy management programs were also explored. In all, approximately 900 delegates attended the conference and trade show from all across Canada and the United States. refs., tabs., figs

The Logistics Performance Effect in International Trade

Directory of Open Access Journals (Sweden)

Azmat Gani

2017-12-01

Full Text Available The continuous growth in world trade depends on the efficiency of trade support structures such as the logistics services. Despite logistics integral role in supporting commercial activities, there has generally been a low level of analysis and trade policy research focus from trade practitioners. This paper explores the effect of logistics performance in international trade. The analysis draws on overall logistics performance as well as disaggregated measures of logistics specificities data for a large sample of countries. The empirical analysis involved the estimation of standard export and import equations incorporating measures of logistics performance. The findings show that the overall logistics performance is positively and statistically significantly correlated with exports and imports. The analysis is also extended by investigating if logistics specificities mattered for international trade. The findings reveal that several dimensions capturing logistics performance have statistically significant and positive effect, mostly on exports. The main policy implication is that continuous investment in logistics infrastructure and services can positively impact international trade.

The distribution of the electric energy consumed in the World Trade Center building; La distribucion de la energia electrica consumida en el edificio World Trade Center

Energy Technology Data Exchange (ETDEWEB)

Gaona de la Fuente, Alvaro; Carrillo Borja, Angel [Luz y Fuerza del Centro, Mexico, D. F. (Mexico)

1997-12-31

This document describes the distribution of the electric energy in the World Trade Center building. Also called the Business International Capital, it is a modern international concept that integrates under the same roof services and supports required by the foreign commerce, with a great 50 stories high building, information network, a business center, a commercial center, an international center for exhibits and conventions and a luxury hotel. It is a modern building equipped with a numberless technological advancements an a total installed electrical load of 35000 kVA. The distribution structures utilized for high buildings are described, the structure that was decided to adopt in the World Trade Center, the requirement for the execution of the distribution electric work, the Luz y Fuerza installations in the buildings conglomerate, the operation and maintenance of the distribution network of this building and the basic needs for new installations of this type of buildings [Espanol] En el presente documento se describe la distribucion de la energia electrica del edificio World Trade Center de la ciudad de Mexico. Llamado tambien la capital internacional de los negocios es un moderno concepto internacional que integra bajo un mismo techo servicios y apoyos que se requieren para el comercio exterior contando con una gran torre de 50 pisos, red de informacion, un centro de negocios, un centro comercial, un centro internacional de exposiciones y convenciones y un hotel de lujo. Es un edificio moderno equipado con un sinnumero de adelantos tecnologicos y con una carga total instalada de 35000 kVA. Se describen las estructuras de distribucion utilizadas en edificios altos, la estructura que se decidio implantar en el World Trade Center, los requerimientos para la ejecucion de la obra electrica de distribucion, las instalaciones de Luz y Fuerza en el conjunto de dicho edificio, la operacion y mantenimiento de la red de distribucion de este edificio, y las necesidades

Implications of CO2 Emissions Trading for Short-run Electricity Outcomes in Northwest Europe

International Nuclear Information System (INIS)

Chen, Y.; Sijm, J.P.M.; Hobbs, B.F.; Lise, W.

2008-02-01

We examine the short-run implications of CO2 trading for power production, prices, emissions, and generator profits in northwest Europe in 2005. Simulation results from a transmission-constrained oligopoly model are compared with theoretical analyses to quantify price increases and windfall profits earned by generators. The analyses indicate that the rates at which CO2 costs are passed through to wholesale prices are affected by market competitiveness, merit order changes, and elasticities of demand and supply. Emissions trading results in large windfall profits, much but not all of which is due to free allocation of allowances. Profits also increase for some generators because their generation mix has low emissions, and so they benefit from electricity price increases. Most emission reductions appear to be due to demand response, not generation redispatch

Implications of CO2 Emissions Trading for Short-run Electricity Outcomes in Northwest Europe

Energy Technology Data Exchange (ETDEWEB)

Chen, Y. [School of Social Sciences, Humanities, and Arts and School of Engineering, Sierra Nevada Research Institute, University of California, Merced, 5200 N. Lake Rd., Merced, CA 95343 (United States); Sijm, J.P.M. [Policy Studies Unit, Energy Research Centre of the Netherlands ECN, P.O. Box 37154, 1020 Amsterdam (Netherlands); Hobbs, B.F. [Department of Geography and Environmental Engineering, The Johns Hopkins University, 3400 N. Charles St, Ames Hall, Baltimore, MD 21218 (United States); Lise, W. [IBS Research and Consultancy, Aga Hamami Caddesi, Aga Han 17/6, Cihangir, 34433 Beyoglu, Istanbul (Turkey)

2008-02-15

We examine the short-run implications of CO2 trading for power production, prices, emissions, and generator profits in northwest Europe in 2005. Simulation results from a transmission-constrained oligopoly model are compared with theoretical analyses to quantify price increases and windfall profits earned by generators. The analyses indicate that the rates at which CO2 costs are passed through to wholesale prices are affected by market competitiveness, merit order changes, and elasticities of demand and supply. Emissions trading results in large windfall profits, much but not all of which is due to free allocation of allowances. Profits also increase for some generators because their generation mix has low emissions, and so they benefit from electricity price increases. Most emission reductions appear to be due to demand response, not generation redispatch.

Revenue, welfare and trade effects of European Union Free Trade Agreement on South Africa

Directory of Open Access Journals (Sweden)

Kore M.A. Guei

2017-10-01

Full Text Available Background: Using the partial equilibrium WITS-SMART Simulation model to assess the impact of liberalisation under the Trade Development and Cooperation Agreement (TDCA of a free trade area between the European Union and South Africa. The identification of the impact of such agreement allows for trade policy negotiation adjustment that can be beneficial for South Africa. Aim: The aim of the study is to estimate and discuss the impact of a Free Trade Agreement (FTA with the European Union and South Africa. More specifically, the study intends to estimate the impact of revenue, welfare, imports, exports, trade creation and to come up with policies options for South Africa that can be used in negotiations and policy formulations. Setting: The study used international trade data (2012 available in the WITS-SMART model to assess bilateral trade agreement between the European Union and South Africa. Methods: To identify the impact on revenue, welfare, imports, exports and trade creation, the study simulated an FTA (0% tariff rate for all goods exchanged between the European Union and South Africa. Also, the elasticity of substitution used for the simulation model was 99%. Results: The findings of the study reveal that total trade effects in South Africa are likely to surge by US$ 1.036 billion with a total welfare valued at US$ 134 million. Dismantling tariffs on all European Union (EU goods would be beneficial to consumers through net trade creation. Total trade creation would be US$ 782 million. However, South African producers are likely to contribute a trade diversion of US$ 254 million which has a negative impact on consumer welfare. The country might also experience a revenue loss amounting to US$ 562 million because of the removal of tariffs. In trade, the country’s exports and imports to the EU are expected to increase by US$ 12.419 million and US$ 1.266 million, respectively. Conclusion: The European Union–South Africa FTA would

Embedded resource accounting for coupled natural-human systems: An application to water resource impacts of the western U.S. electrical energy trade

Science.gov (United States)

Ruddell, Benjamin L.; Adams, Elizabeth A.; Rushforth, Richard; Tidwell, Vincent C.

2014-10-01

In complex coupled natural-human systems (CNH), multitype networks link social, environmental, and economic systems with flows of matter, energy, information, and value. Embedded Resource Accounting (ERA) is a systems analysis framework that includes the indirect connections of a multitype CNH network. ERA is conditioned on perceived system boundaries, which may vary according to the accountant's point of view. Both direct and indirect impacts are implicit whenever two subnetworks interact in such a system; the ratio of two subnetworks' impacts is the embedded intensity. For trade in the services of water, this is understood as the indirect component of a water footprint, and as "virtual water" trade. ERA is a generalization of input-output, footprint, and substance flow methods, and is a type of life cycle analysis. This paper presents results for the water and electrical energy system in the western U.S. This system is dominated by California, which outsources the majority of its water footprint of electrical energy. Electricity trade increases total water consumption for electricity production in the western U.S. by 15% and shifts water use to water-stressed Colorado River Basin States. A systemic underaccounting for water footprints occurs because state-level processes discount a portion of the water footprint occurring outside of the state boundary.

Working group on unbundling of electricity trade operations 2. A group report; Saehkoeliiketoimintojen eriyttaemistyoeryhmae 2. Tyoeryhmaen mietintoe

Energy Technology Data Exchange (ETDEWEB)

NONE

2000-09-01

The current unbundling of operations in accounts has proved inadequate. No formula or model that could be made binding by provisions have been defined for unbundled accounts. In addition, unbundling can draw a distinct line between commercial activities and network operations, which have assumed various authoritative functions. Against this background, the need for clearer unbundling has become more marked. The working group suggests that the current provisions on unbundling of trade operations should be tightened and that the unbundling should be made clearer especially in terms of allocation of joint costs. For this, the necessary preparations by the authorities should be initiated urgently. At the same time, the working group proposes that network operations should be unbundled from other operations by incorporation or by unbundling them into a separate public utility. The smallest electric utilities should be exempted from the obligation of incorporating network operations. According to the working group, the lower limit could be fixed e.g. at 70 GWh a year. The working group also suggests that the licensees must own the electricity networks they operate. The licensees could not rent their networks from the mother company nor lease them from a financing company. The model proposed by the working group would redress the major problems connected with the supervision of the electricity market. The monopoly, i.e. the electricity network operations, under the supervision of the Electricity Market Authority could thus be unbundled. This would improve the functioning of the market and facilitate the supervision. However, the model would not abolish the tax concession of municipal public utilities in competitive trade operations, production and sale of electricity. The tax concession may affect the competitive situation on the electricity market. (orig.)

New Solutions for Renewable Energy Trading

Directory of Open Access Journals (Sweden)

Władysław Mielczarski

2014-09-01

Full Text Available The paper presents one of the key problems in renewable energy trading. The support system for RES is operating on financial levels leaving to the RES producers decisions on the energy trade. However, the flawed legal regulations impose the obligations on Default Electricity Supplier (SzU1 to buy all RES production from the installations located in the areas of the SzU operation. Such legal provisions result in the additional burden on the SzU, which main duty is to provide electric energy to customers who do not want to enter competitive electricity markets. Additionally, over interpretation of the Energy Law provisions by the Energy Regulatory Authority (URE2, allowing the RES producers to trade a part of their production on electricity markets leaving the obligation on SzUs, has led to the speculative trade of renewable energy. Some RES producers sell the electricity produced in competitive markets during peak demand hours – usually working days from 7 a.m. to 8 p.m. – when the Power Exchange prices are significantly higher than the obligatory purchase price. When during off peak demand hours electricity prices in the Power Exchange are lower than the obligatory level, RES producers sell the electric energy to SzUs at the obligatory price, determined by the URE. Such an abuse of fair trade results in the additional income for the RES producers being burden on SzUs, which have to transfer such costs to energy endusers. The simulations, carried out for Poland indicate that the additional costs can count for about 200 mln zł per year.

The Effect of International Trade on Rule of Law

Directory of Open Access Journals (Sweden)

Junsok Yang

2013-03-01

Full Text Available In this paper, we look at the relationship between international trade and the rule of law, using the World Justice Project Rule of Law Index, which include index figures on human rights, limits on government powers, transparency and regulatory efficiency. Based on regression analyses using the rule of law index figures and international trade figures (merchandise trade, service trade, exports and importsIn this paper, we look at the relationship between international trade and the rule of law, using the World Justice Project Rule of Law Index, which include index figures on human rights, limits on government powers, transparency and regulatory efficiency. Based on regression analyses using the rule of law index figures and international trade figures (merchandise trade, service trade, exports and imports as percentage of GDP, international trade and basic human rights seem to have little relationship; but trade has a close positive relationship with strong order and security. Somewhat surprisingly, regulatory transparency and effective implementation seems to have little or no effect on international trade and vice versa. International trade shows a clear positive relationship with the country’s criminal justice system, but the relationship with the civil justice system is not as clear as such. For regulatory implementation and civil justice, services trade positively affect these institutions, but these institutions in turn affect exports more strongly than services trade. Finally, the effect of trade on rule of law is stronger on a medium to long term (10-20 year time horizon.

Introducing the emissions trading system to China’s electricity sector: Challenges and opportunities

International Nuclear Information System (INIS)

Teng, Fei; Wang, Xin; Zhiqiang, LV

2014-01-01

We examine the challenges and opportunities to introduce emissions trading (ETS) in China’s electricity sector, in which the interaction between ETS and electricity market reform plays a major role. China’s electricity sector is currently in a slow progress towards a more competitive and market-based system. Both equal share dispatching policy and regulated wholesale and retail pricing policies pose significant challenges for implementation of ETS in China’s electricity sector. One of the important points of ETS is to give a price for carbon emissions and establish a cost pass-through mechanism (reminded that the essential of carbon pricing is to put a price on carbon emissions that is equal to discounted value of the external damages). It should be regarded as a part of broader policy package for energy and resources price reform. This will require that any low-carbon power policy should be considered as a part of whole policy package aiming at further liberalizing the electricity sector in China. Three policy options are identified to incorporate ETS with electricity reform under different circumstances. A combination of those three options is also proposed to break the lock and reinforce the positive interaction between ETS and the transition towards a competitive electricity system, in link with current pilot ETS designs. A roadmap to introduce ETS in a stepwise manner is suggested. - Highlights: • We assess the institutional barriers of electricity market to ETS in China. • Major challenges to ETS come from equal share dispatching an regulated pricing policies. • Several options are examined to reconcile the ETS and electricity market in China

An electricity generation planning model incorporating demand response

International Nuclear Information System (INIS)

Choi, Dong Gu; Thomas, Valerie M.

2012-01-01

Energy policies that aim to reduce carbon emissions and change the mix of electricity generation sources, such as carbon cap-and-trade systems and renewable electricity standards, can affect not only the source of electricity generation, but also the price of electricity and, consequently, demand. We develop an optimization model to determine the lowest cost investment and operation plan for the generating capacity of an electric power system. The model incorporates demand response to price change. In a case study for a U.S. state, we show the price, demand, and generation mix implications of a renewable electricity standard, and of a carbon cap-and-trade policy with and without initial free allocation of carbon allowances. This study shows that both the demand moderating effects and the generation mix changing effects of the policies can be the sources of carbon emissions reductions, and also shows that the share of the sources could differ with different policy designs. The case study provides different results when demand elasticity is excluded, underscoring the importance of incorporating demand response in the evaluation of electricity generation policies. - Highlights: ► We develop an electric power system optimization model including demand elasticity. ► Both renewable electricity and carbon cap-and-trade policies can moderate demand. ► Both policies affect the generation mix, price, and demand for electricity. ► Moderated demand can be a significant source of carbon emission reduction. ► For cap-and-trade policies, initial free allowances change outcomes significantly.

Trade-offs Between Electricity Production from Small Hydropower Plants and Ecosystem Services in Alpine River Basins

Science.gov (United States)

Meier, Philipp; Schwemmle, Robin; Viviroli, Daniel

2015-04-01

The need for a reduction in greenhouse gas emissions and the decision to phase out nuclear power plants in Switzerland and Germany increases pressure to develop the remaining hydropower potential in Alpine catchments. Since most of the potential for large reservoirs is already exploited, future development focusses on small run-of-the-river hydropower plants (SHP). Being considered a relatively environment-friendly electricity source, investment in SHP is promoted through subsidies. However, SHP can have a significant impact on riverine ecosystems, especially in the Alpine region where residual flow reaches tend to be long. An increase in hydropower exploitation will therefore increase pressure on ecosystems. While a number of studies assessed the potential for hydropower development in the Alps, two main factors were so far not assessed in detail: (i) ecological impacts within a whole river network, and (ii) economic conditions under which electricity is sold. We present a framework that establishes trade-offs between multiple objectives regarding environmental impacts, electricity production and economic evaluation. While it is inevitable that some ecosystems are compromised by hydropower plants, the context of these impacts within a river network should be considered when selecting suitable sites for SHP. From an ecological point of view, the diversity of habitats, and therefore the diversity of species, should be maintained within a river basin. This asks for objectives that go beyond lumped parameters of hydrological alteration, but also consider habitat diversity and the spatial configuration. Energy production in run-of-the-river power plants depends on available discharge, which can have large fluctuations. In a deregulated electricity market with strong price variations, an economic valuation should therefore be based on the expected market value of energy produced. Trade-off curves between different objectives can help decision makers to define policies

Conference Proceedings: Effectively utilizing energy derivatives in a deregulated electricity market

International Nuclear Information System (INIS)

1998-01-01

This conference was devoted to a discussion about the likely impacts of deregulation on electricity markets in North America. Many of the presentations emphasized price risk in a competitive open access energy market. It was noted that deregulation is frequently associated with the creation of larger companies, higher risks and lower costs. Some of the individual topics addressed by the speakers included discussion of : (1) how underlying physical markets will work in Ontario, (2) experiences in derivative trading in the natural gas industry, (3) how to create value through multiple commodity risk management products, (4) trading with energy derivatives in the U.S. (5) how derivatives can add value for municipal electrical utilities, and (6) risk management mechanisms for energy derivative trading. refs., tabs., figs

Effects of intraday trade on NorNed

Energy Technology Data Exchange (ETDEWEB)

2011-06-15

In this report we study the effects of introducing intraday trade on the NorNed cable between Norway and the Netherlands, effectively increasing the geographical scope of the existing intraday markets in both countries, by analysing the effects on the incentives of existing and potential new market participants. The analysis of the effects on incentives is mainly based on a fundamental analysis of resource prices in the two countries, using the day-ahead supply curves in both countries. It also includes an analysis of the dynamics of trade, interdependencies between the different market time frames (day-ahead, intraday and balancing stage) and price behaviour. In addition we describe the day-ahead, intraday and balancing markets of the two countries and identify factors in the market designs which may affect the incentives for intraday trade. (Author)

Effects of Free Trade Agreements on Foreign Trade: Predictions for Puerto Rico in the face of CAFTA-DR

Directory of Open Access Journals (Sweden)

José E. Signoret

2006-10-01

Full Text Available This paper examines the effects of regional free trade agreements on international trade activity. The analysis estimates gravity models of trade that serve to assess the likely impact of CAFTA-DR on Puerto Rico and United States’ foreign trade. The estimated effects of CAFTA-DR on the US are invariably modest. For the case of Puerto Rico, the effects are of considerably larger importance, albeit still somewhat small. The inclusion of the Dominican Republic into the Agreement, however, is critical for these latter results.

Environmental challenges and opportunities of the evolving North American electricity market : Design and legal considerations for North American emissions trading

International Nuclear Information System (INIS)

Russell, D.

2002-06-01

When considering a multi-pollutant emissions trading system covering Mexico, the United States and Canada, several issues must be looked at. Such a system would result from the changing environment in the electricity sector. An understanding of the architectural elements involved in the design of an emissions trading regime was the stated goal for the preparation of this working paper. In the event of the implementation of a North American emissions trading system, some potential interface issues resulting from the North American Free Trade Agreement (NAFTA) were identified. An overview of the emissions trading systems currently in place in North America and their results was included in a background paper, as well as a description of architectural elements comprised in the design of an emissions trading system, the implications of cross-border harmonization taking into account environmental integrity and economic efficiency, and potential trade issues. This paper was circulated among a broad section of policy experts in environmental matters, and was then discussed at an informal workshop in December 2001, attended by 25 cross-sectoral experts. The author also identified several areas where further work is required. refs., 2 tabs

Border effects without borders: What divides Japan's internal trade?

OpenAIRE

Wrona, Jens

2015-01-01

Over the last 20 years the trade literature repeatedly documented the trade-reducing effects of inter- and intra-national borders. Thereby, the puzzling size and persistence of observed border effects from the beginning raised doubts on the role of underlying political borders. However, when observed border effects are not caused by political trade barriers, why should their spatial dimension then inevitably coincide with the geography of present or past political borders? This paper identifi...

Greenhouse gas trading

Energy Technology Data Exchange (ETDEWEB)

Drazilov, P. [Natsource-Tullett Emissions Brokerage, Toronto, ON (Canada)

2001-07-01

Natsource-Tullett Emissions Brokerage is a market leader in natural gas, electricity, coal, and weather, emissions with a total of more than $2 billion by volume in emissions transactions in the United States, Canada, Australia, Japan, and Europe. This power point presentation addressed issues dealing with global warming, the Kyoto Protocol, and explained where we are in terms of reaching commitments for the first compliance period between 2008-2012. The paper focused on international emissions trading (IET), joint implementation (JI) and the clean development mechanism (CDM) and explained how greenhouse gases are traded. Emissions trading refers to the trade of carbon dioxide, methane, nitrous oxides, perfluoro-carbons, hydrofluorocarbons, and sulphur hexafluorides. The motivational drivers for trading were outlined in terms of liability for buyers and assets for sellers. To date, trading activity is nearly 120 transactions with nearly 70 million tons of carbon dioxide equivalent. tabs., figs.

Federal policies for renewable electricity: Impacts and interactions

International Nuclear Information System (INIS)

Palmer, Karen; Paul, Anthony; Woerman, Matt; Steinberg, Daniel C.

2011-01-01

Three types of policies that are prominent in the federal debate over addressing greenhouse gas emissions in the United States are a cap-and-trade program (CTP) on emissions, a renewable portfolio standard (RPS) for electricity production, and tax credits for renewable electricity producers. Each of these policies would have different consequences, and combinations of these policies could induce interactions yielding a whole that is not the sum of its parts. This paper utilizes the Haiku electricity market model to evaluate the economic and technology outcomes, climate benefits, and cost-effectiveness of three such policies and all possible combinations of the policies. A central finding is that the carbon dioxide (CO 2 ) emissions reductions from CTP can be significantly greater than those from the other policies, even for similar levels of renewable electricity production, since of the three policies, CTP is the only one that distinguishes electricity generated by coal and natural gas. It follows that CTP is the most cost-effective among these approaches at reducing CO 2 emissions. An alternative compliance payment mechanism in an RPS program could substantially affect renewables penetration, and the electricity price effects of the policies hinge partly on the regulatory structure of electricity markets, which varies across the country. - Research highlights: → Climate benefits of cap-and-trade are greater than of tax credits or RPS. → Cap-and-trade is more cost-effective at reducing emissions than tax credits or RPS. → Tax credits are a subsidy to production that raises electricity consumption. → Alternative compliance payment can substantially affect the outcome of RPS.

Interjurisdictional trading rules and issues

International Nuclear Information System (INIS)

Keizer, C.

2001-01-01

Rules and issues regarding financial transmission rights were presented in this power point presentation which focused on access to the Ontario electricity grid. Power generators submit offers to the independent market operator (IMO) to participate in the IMO dispatch. This presentation covered uniform pricing issues in Ontario, the congestion pricing theory, congestion management, and how congestion pricing can apply to inter-regional trades. Inter-regional trading examples of buying and selling electricity in Ontario were also presented. IMOs have the power to auction transmission rights, which are the financial instrument that protects against exposure to changes in price differences. Initially, this would apply only to price differences between the uniform Ontario price and prices in each zone. The holders of financial transmission rights receive a portion of the congestion surplus collected through the IMO settlements as a result of congestion pricing on the entities. The problem is that this provides no incentive for transmitters. Another problem is that there are different trading regimes in Ontario, but it is preferable to have seamless trading across jurisdictions to promote inter-jurisdictional trading

CO2 price dynamics. The implications of EU emissions trading for the price of electricity

International Nuclear Information System (INIS)

Sijm, J.P.M.; Bakker, S.J.A.; Harmsen, H.W.; Lise, W.; Chen, Y.

2005-09-01

The present study analyses the relationship between EU emissions trading and power prices, notably the implications of free allocation of emissions allowances for the price of electricity in countries of North-western Europe. To study this impact, it uses a variety of analytical approaches, including interviews with stakeholders, empirical and statistical analyses, theoretical explorations, and analyses by means of the COMPETES model. The study shows that a significant part of the costs of freely allocated allowances is passed through to power price and discusses its implications in terms of higher electricity prices for consumers and windfall profits for producers. It concludes that free allocation of emission allowances is a highly questionable policy option for a variety of reasons and suggests that auctioning might offer a better perspective

Optimal utilization of electric power in the Nordic countries

International Nuclear Information System (INIS)

Magnusson, G.; Gjelsvik, E.

1992-01-01

It is attempted to address the questions of which advantages the equilibrium solution would have for the energy market under free trade conditions, how Nordic electric power can be used optimally and what the trading pattern looks like, which kind of competition the transmission of electricity via cables to Iceland and other Nordic countries will meet in the United Kingdom (UK) and the Continent, how high the option values are of trading with electric power via cables from, for example, Iceland to the UK and how great the profit could be from a more effective use of electricity for aluminium production in Norway and Iceland. Data are given on consumer prices for 1990 in Scandinavia, Germany and the UK, and a few graphs and a map illustrate the text. (AB)

Emissions trading and green power : profitability for buyers and sellers

International Nuclear Information System (INIS)

Haites, E.

1998-01-01

Proposed features of the competitive electricity market in Ontario were reviewed. The speaker predicted that demand for renewable energy in Ontario's competitive electricity market will be affected by green power, emissions trading, labelling, and renewables portfolio standard. Under current regulations retailers can charge customers a premium for purchasing electricity generated by 'green' sources. The existing limits on emissions of sulphur dioxide, nitrogen oxides and carbon dioxides will remain in place, but an emissions cap and trading program for all Ontario-based generation is an option to consider. Ontario's Market Design Committee (MDC) has recommended the implementation of emissions trading for electricity-related air pollutants for all generators located in Ontario. The complex mechanics of emission trading are explained. The MDC recommendation of the use of standard labels to disclose the mix of energy sources used by sellers of electricity and their associated pollution emissions are also summarized

Energy forum 92: Efficiency, trade and the environment

Energy Technology Data Exchange (ETDEWEB)

1992-01-01

In 1992 B.C. Hydro's annual Electric Energy Forum was held in conjunction with the National Energy Forum to provide an opportunity for delegates from utilities, government, industry, international development agencies, environmental groups, universities and interested members of the public to discuss major energy issues of today and tomorrow. Three main themes were addressed: Efficiency (the latest developments in energy-efficient technologies and their role in sustainable development), trade (strategies for trade in energy and related technologies), and environment (the effects of energy production, use and trade on the local, regional and global environment). This document presents opening remarks, speeches presented, and panel discussions.

An Empirical Investigation of Trade Flows Between Australia and its Major Trading Partners

Directory of Open Access Journals (Sweden)

Samuel Belicka

2014-12-01

Full Text Available This study introduces Net Export (NX models to examine the determinants of the trade flows between Australia and eight selected trading partner (TP countries (China, France, Germany, Malaysia, Singapore, Thailand, United Kingdom, United States of America in four selected Trade Deficit (TD categories (Pharmaceutical Products; Nuclear Reactors, Boilers, Machinery and Mechanical Appliances; Electrical Machinery and Equipment; Sound Recorders and Producers, and Vehicles Other Than Railway or Tramway Rolling-Stock. A total of 29 NX models are estimated, which are based on both the monetary and Quantity (QTY values. Findings in this study suggest that macroeconomic variables such as money supply, interest rates and savings rates have no-significant effect in the determination of the NX levels in the selected categories. This highlights that monetary policy cannot influence the NX levels in the selected TD categories in Australia. This study also identifies some policy implications which arise from this paper.

Communication and Industrial Electronics. Trade and Industrial Education Trade Preparatory Training Guide.

Science.gov (United States)

Nebraska State Dept. of Education, Lincoln. Div. of Vocational Education.

One of a series of curriculum guides prepared for the electricity/electronics occupations cluster, this guide identifies the essentials of the communication and industrial electronics trade as recommended by the successful electrical servicemen. An instructional program based upon the implementation of the guide is expected to prepare a student to…

40 CFR 60.4140 - State trading budgets.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 6 2010-07-01 2010-07-01 false State trading budgets. 60.4140 Section 60.4140 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY (CONTINUED) AIR PROGRAMS (CONTINUED... Electric Steam Generating Units Hg Allowance Allocations § 60.4140 State trading budgets. The State trading...

Pricing and Application of Electric Storage

Science.gov (United States)

Zhao, Jialin

Electric storage provides a vehicle to store power for future use. It contributes to the grids in multiple aspects. For instance, electric storage is a more effective approach to provide electricity ancillary services than conventional methods. Additionally, electric storage, especially fast-responding units, allows owners to implement high-frequency power transactions in settings such as the 5-min real-time trading market. Such high-frequency power trades were limited in the past. However, as technology advances, the power markets have evolved. For instance, the California Independent System Operator now supports the 5-min real-time trading and the hourly day-ahead ancillary services bidding. Existing valuation models of electric storage were not designed to accommodate these recent market developments. To fill this gap, I focus on the fast-responding grid-level electric storage that provides both the real-time trading and the day-ahead ancillary services bidding. To evaluate such an asset, I propose a Monte Carlo Simulation-based valuation model. The foundation of my model is simulations of power prices. This study develops a new simulation model of electric prices. It is worth noting that, unlike existing models, my proposed simulation model captures the dependency of the real-time markets on the day-ahead markets. Upon such simulations, this study investigates the pricing and the application of electric storage at a 5-min granularity. Essentially, my model is a Dynamic Programming system with both endogenous variables (i.e., the State-of-Charge of electric storage) and exogenous variables (i.e., power prices). My first numerical example is the valuation of a fictitious 4MWh battery. Similarly, my second example evaluates the application of two units of 2MWh batteries. By comparing these two experiments, I investigate the issues related to battery configurations, such as the impacts of splitting storage capability on the valuation of electric storage.

Essays on globalization. Policies in trade, development, resources and climate change

Energy Technology Data Exchange (ETDEWEB)

Kerkelae, L.

2009-07-01

This research study on globalization consists of an introduction on the methodology applied, a summary and four independent essays focussing on applied policy research in international trade. The study follows the CGE (Computable General Equilibrium) research tradition. The simulation environment is the publicly available GTAP model. The essays examine the specific topics of trade and aid policies, price liberalization of the Russian energy markets, trade preferences in the sugar sector of the EU and the role of carbon sinks in mitigating climate change. The first essay examines trade and aid policies in Mozambique. The essay analyses the impact of alternative options like trade agreements, aid and trade facilitation. The results suggest that Mozambique has very little to gain from trade agreements or the Doha Round, although some agreements with the EU do yield some benefit. Trade facilitation and aid-for-trade programs on the other hand have the potential for larger benefits. The second essay examines the impact of liberalising RussiaAEs energy sector. The analysis is based on the implicit subsidies in regulated prices of electricity and gas and focuses on the effect of the different taxes and subsidies with respect to welfare and GDP in Russia and abroad. Increases in the price of electricity and gas improve efficiency and shift output from domestic markets to exports. The third essay investigates the impact of liberalising the EUAEs sugar sector by taking into account the complex structure of the EU sugar market and preferences in imports for developing countries. The fourth essay focuses on the effects of including carbon sinks into the analysis of the impacts of the Kyoto agreement. (orig.)

Spatially and Temporally Resolved Analysis of Environmental Trade-Offs in Electricity Generation.

Science.gov (United States)

Peer, Rebecca A M; Garrison, Jared B; Timms, Craig P; Sanders, Kelly T

2016-04-19

The US power sector is a leading contributor of emissions that affect air quality and climate. It also requires a lot of water for cooling thermoelectric power plants. Although these impacts affect ecosystems and human health unevenly in space and time, there has been very little quantification of these environmental trade-offs on decision-relevant scales. This work quantifies hourly water consumption, emissions (i.e., carbon dioxide, nitrogen oxides, and sulfur oxides), and marginal heat rates for 252 electricity generating units (EGUs) in the Electric Reliability Council of Texas (ERCOT) region in 2011 using a unit commitment and dispatch model (UC&D). Annual, seasonal, and daily variations, as well as spatial variability are assessed. When normalized over the grid, hourly average emissions and water consumption intensities (i.e., output per MWh) are found to be highest when electricity demand is the lowest, as baseload EGUs tend to be the most water and emissions intensive. Results suggest that a large fraction of emissions and water consumption are caused by a small number of power plants, mainly baseload coal-fired generators. Replacing 8-10 existing power plants with modern natural gas combined cycle units would result in reductions of 19-29%, 51-55%, 60-62%, and 13-27% in CO2 emissions, NOx emissions, SOx emissions, and water consumption, respectively, across the ERCOT region for two different conversion scenarios.

Econometric analysis of Australian emissions markets and electricity prices

International Nuclear Information System (INIS)

Cotton, Deborah; De Mello, Lurion

2014-01-01

Emissions trading schemes aim to reduce the emissions in certain pollutants using a market based scheme where participants can buy and sell permits for these emissions. This paper analyses the efficiency of the two largest schemes in Australia, the NSW Greenhouse Gas Abatement Scheme and the Mandatory Renewable Energy Trading Scheme, through their effect on the electricity prices from 2004 to 2010. We use a long run structural modelling technique for the first time on this market. It provides a practical long-run approach to structural relationships which enable the determination of the effectiveness of the theoretical expectations of these schemes. The generalised forecast error variance decomposition analysis finds that both schemes' emissions prices have little effect on electricity prices. Generalised impulse response function analysis support this finding indicating that when shocks are applied to electricity by the two schemes it returns to equilibrium very quickly. This indicates that these schemes are not having the effect anticipated in their legislation. - Highlights: • We analyse two emissions trading schemes in Australia. • We test for their effect on wholesale electricity prices. • The test uses generalised forecast error variance decomposition analysis. • The tests find long run relationship between the variables in both the samples. • The short run-dynamics indicate that they play a minimal role in electricity prices

Trade in electricity certificates: a new means for stimulating electricity from renewable energy sources: final report from the electricity certificate inquiry

International Nuclear Information System (INIS)

2001-01-01

We recommend the introduction of a quota-based Swedish certificate system to promote production of electricity from renewable energy sources commencing on 1 January 2003. We recommend that the certificate system should be based on the following principles: The quota obligation should be set for the years 2003 to 2010 and for all intervening years. The quota is expressed as a share of the total amount of electricity used. It is proposed that as a guideline, a target of an increase in electricity production from renewable energy sources of 10 TWh, in a period from 2003 to 2010 inclusive, is adopted. It is estimated that approximately half of this increase can come from expansion of existing production and half from new plants. The following electricity production plants are to be entitled to certificates provided they comply with the requirement that electricity is to be produced from renewable energy sources and that they meet the environmental criteria set, including fuel requirements, where electricity is produced with the aid of: 1. wind power, 2. solar energy, 3. geothermal energy, 4. certain types of biofuel, 5. wave energy, 6. hydroelectric power at existing plants which, at the time of the Electricity Certificate law coming into effect, have a capacity not exceeding 1 500 kilowatt, 7. hydroelectric power at plants which have not been in operation after 1 July 2001 but which were commissioned after the coming into effect of the Electricity Certificate law, 8. increased installed capacity at existing hydroelectric power plants to the extent that capacity is increased by measures undertaken after 1 July 2002, and 9. hydroelectric power produced at plants, which started operation for the first time after 1 July 2002. The quota period is defined as one calendar year. Certificates may be 'banked' by those subject to quota should they have more certificates at the end of the quota period than need to be submitted. A certificate is valid for an unlimited period of

Intraday Trading of Wind Energy

DEFF Research Database (Denmark)

Skajaa, Anders; Edlund, Kristian; Morales González, Juan Miguel

2015-01-01

In this paper, we tackle the problem of a wind power producer participating in a short-term electricity market that allows for the continuous, but potentially illiquid, intraday trading of energy. Considering the realistic case of a wind farm operating in the western Danish price area of Nord Pool......, we build a simple but effective algorithm for the wind power producer to fully benefit from the Elbas intraday market. We then investigate the sensitivity of the obtained benefits to the maximum volume of energy the wind power producer is willing to trade in the intraday market, the ultimate aim...... of the trade (either to decrease energy imbalances or to increase profits) and to the installed capacity of the wind farm. Our numerical results reveal that the wind power producer can substantially increase his revenues by partaking in the intraday market but with diminishing returns to scale—a result that we...

Liquidity Effects on the Simultaneity of Trading Volume and Order Imbalance

Directory of Open Access Journals (Sweden)

Erman Denny Arfianto

2016-10-01

Full Text Available The purpose of this research is to analyze the simultaneity between trading volume and order imbalance, the influence of past performance, market risk, market capitalization, tick size to the trading volume and the influence of tick size, depth and bid-ask spread to the order imbalance of companies that were listed on LQ 45 index. The samples in this research were selected by using the purposive sampling method with some selected criteria. Fifty-five companies listed on 2014’s LQ 45 index were chosen as the sample. The results showed that the trading volume is simultaneously related to the order imbalance; past performance, market risk, and market capitalization have the positive and significant effect to the trading volume; tick size has the negative and significant effect to the trading volume; the order imbalance has the negative and insignificant effect to the trading volume; tick size, depth, bid-ask spread, and trading volume have no significant effect to the order imbalance.

THE EFFECT OF ILLICIT TRADE IN NARCOTICS ON GLOBAL ECONOMY

Directory of Open Access Journals (Sweden)

ALASMARI Khaled

2013-07-01

Illicit markets especially those dealing with narcotics constitute grievous issues to the world’s economies, putting to test global safety, economic progress as well as security and many other aspects. Seemingly, illicit narcotics trade in the last decade – that is 2000 to 2011 underwent a significant boom, resulting from a wide spectrum of illegal drugs such as cocaine as well as heroin among many other hard drugs. In today’s global society, several concerns are emerging on the rise of illicit narcotics trade accompanied with organized crime, chiefly as major hindrances to consistent global economic progress. Apparently, some of the effects of illicit narcotics trade are that; this trade gradually turns upside down business rules, opening way for new unruly market players besides reconfiguring influence in global economics as well as politics. Surprisingly, the revenue from illegal drugs in 2011 alone was roughly 10% of the global GDP. Hence, exaggerating local economies’ incomes and triggering ceaseless conflicts among market players, while at the same time reducing legal business activities likewise disintegrating socioeconomic conditions. An empirical research method was adopted for this study, analyzing illicit trade in narcotics on the global arena as from 2000 to 2011 and its resultant effects. The research findings indicate that, illegal drugs trade particularly on the world economy besides growing at a high rate, it endangers the overall welfare of humans likewise the business environment. This is ostensibly because this trade has high chances of engrossing regional economies into illegal drugs business activities, causing them to neglect sustainable ethical businesses. Now, to effectively address negative economic issues related to illegal drugs trade, there is apparent need for integrated efforts from local as well as international authorities. Such efforts are chiefly to control not only the harmful effects resulting from the use of illicit

Impact of CO2 trade on electricity producers depending on the use of different energy sources in Estonia. CO2 kaubanduse mõju elektritootjatele erinevate energiaallikate kasutamisel Eesti tingimustes

Directory of Open Access Journals (Sweden)

Jüri Kleesmaa

2013-01-01

Full Text Available The aim of this paper is to identify the main circumstances related to the Estonian energy sector and economy and the facts which are important for development of the research conducted by the author and for clarification of the main viewpoints. The paper provides the principal facts on the first (2005-2007 and second (2008-2012 period of CO2 (carbon dioxide trade in Estonia; describes electricity production in Estonia on the basis of the electricity development plan effective in the reference year 2007 and proceeding from that – calculations of CO2 emissions by kind of fuel used. The paper will touch upon the main legislative provisions concerning renewable energy support, which essentially influence the development of renewable energy generation and indirectly the CO2 trade. Analogously with the reference year 2007 methods of calculation, CO2 emissions have been calculated for 2020. The electricity production prognosis for the year 2020 is based on the interpretation of the electricity sector development plan. Computation according to the CO2 calculation methodology shows that the CO2 emission amount will be ca 5.7 Mt (million tonnes in 2020. In 2020 compared to 2007, the domestic consumption of electricity is estimated to grow: in 2007 the domestic consumption of electricity was ca 8200 GWh, in 2020 it is estimated to be ca 10480 GWh, i.e. the growth is ca 22%. Decrease in the emission amount of CO2 will be gained due to the expected use of different energy sources, compared to those used in 2007, in the designed power plants based on renewable energy sources or gas. The share of oil shale-based energy production will decrease from 83% to 44% resulting in a further reduction of CO2 emissions from 12 Mt to 4 Mt. In view of the fact that, during consumption, the CO2 emissions comprise nearly 60% of the gross consumption of electricity production, the research reveals that raising consumer awareness of the use of various energy saving

Trade structure, trade mode and the urban-rural income gap in China

Directory of Open Access Journals (Sweden)

Hao Wei

2013-05-01

Full Text Available This paper analyses the effect of foreign trade in China on the urban-rural income gap from certain angles including trade scale, trade structure and trade mode at the national and provincial levels. The empirical results indicate that, from the perspective of trade scale, the export and import in the eastern and national regions have an expansion effect on the urban-rural income gap, and, in the central regions, they have a reduction effect. Furthermore, export in the western regions has a reduction effect while import in these regions did not have a significant effect. From the perspective of trade structure, the trade of high-tech products and labour-intensive products in the national and eastern regions has an expansion effect, and the trade of the above-mentioned products in the central regions has a reduction effect. The trade of labour-intensive products in the western regions has a reduction effect, and that of high-tech products an expansion effect. From the perspective of trade mode, processing trade and general trade in the national and eastern regions have an expansion effect, while in the central regions they have a reduction effect. General trade in the western regions would expand the urban-rural income gap, and processing trade does not have a significant effect. Consequently, when the South African Government is working out trade multiplicative and corresponding policy, they should consider the development of foreign trade and should pay attention to the labour market structure.

Electricity market 2001

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-09-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment.

Electricity market 2001

International Nuclear Information System (INIS)

2001-09-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment

Renewable energy and Scottish trading arrangements

International Nuclear Information System (INIS)

2001-01-01

This report summarises the findings of a project involving the participation of the Scottish Renewables Forum (SRF) in the ongoing Ofgem consultation process concerning the future electricity trading arrangements in Scotland. The present administrative arrangements, the activities of the SRF, the prospects for the British Electricity Trading and Transmission Arrangements (BETTA), generator connection policy, and transmission access are discussed, and an overview of consultations relating to Scotland-England interconnection access is presented. The appendices cover the SRF responses to the Ofgem consultation, a discussion paper in advance of the SRF meeting with Ofgem in April 2001, an SRF trading update, the SRF's responses to Ofgem's Environmental Action Plan, the Scottish Embedded Generators Working Group's terms of reference and draft paper on issues, and a briefing on prices in administered arrangements

Trading behaviour on the continuous intraday market ELBAS

International Nuclear Information System (INIS)

Scharff, Richard; Amelin, Mikael

2016-01-01

Intraday markets for electricity allow for trading of energy until shortly before the period of delivery. This offers market participants a possibility to reduce their expected imbalances and to offer own unused flexibility. Because this form of distributed balancing before the period of delivery can be profitable for market participants as well as beneficial for system operations, intraday trading is expected to gain more importance in future, especially with increasing shares of variable renewable energy sources in the generation mix. So far, intraday markets are still a research field with many open questions. This paper contributes by a first analysis of intraday trades on ELBAS, one of the European intraday markets. The analysis gives a detailed picture on trading activity and price development and is intended to improve understanding of continuous intraday trading. Findings include that trading activity differs significantly between price zones, that most trades occur in the last hours before gate closure and that market participants have to handle substantial price variations during the trading period. The paper also investigates the imbalance settlement rules in the Nordic countries and studies which effects one- and two-price imbalance settlement systems have on the market participants' profitability of intraday trading. - Highlights: • Insights into intraday trading: trading activity and price development. • Special focus is on characteristics of continuous trading. • Intrinsic problems in the Nordic imbalance pricing scheme are discussed. • Implications regarding balancing of generation from vRES.

POTENTIAL TRADE EFFECTS OF TARIFF LIBERALIZATION UNDER THE TRANSATLANTIC TRADE AND INVESTMENT PARTNERSHIP (TTIP FOR THE EU AGRI-FOOD SECTOR

Directory of Open Access Journals (Sweden)

Agnieszka Poczta-Wajda

2017-06-01

Full Text Available  The aim of this article is to determine the potential trade effects of Transatlantic Trade and Investment Partnership (TTIP for the EU agri-food sector. The ex post analysis covered the characteristics of agri-food trade between the EU and the US in the years 2004–2014 on the basis of statistical data from the database of the World Bank WITS. The ex ante evaluation was carried out using SMART – a partial equilibrium model. The results of the study indicate that although bilateral agri-food trade relations of the EU–US have relatively little importance, but it is significant at the individual industries level. TTIP agreement, which includes the reduction of tariff barriers to agri-food trade between the EU and the US, will contribute to boosting bilateral agri-food trade to a greater extent for the US. The creation of a free trade produces mostly creation effect, whereby it will be asymmetric – concentrated in a few product groups.

CO2-emission trading and green markets for renewable electricity. WILMAR - deliverable 4.1

International Nuclear Information System (INIS)

Azuma-Dicke, N.; Weber, C.; Morthorst, P.E.; Ravn, H.F.; Schmidt, R.

2004-06-01

This report is Deliverable 4.1 of the EU project 'Wind Power Integration in Liberalised Electricity Markets' (WILMAR) and de-scribes the application of two policy instruments, Tradable Emissions Permits (TEPs) and Tradable Green Certificates (TGCs) for electricity produced from renewable energy sources in the European Union and the implications for implementation in the Wilmar model. The introduction of a common emission-trading system in the EU is expected to have an upward effect on the spot prices at the electric-ity market. The variations of the spot price imply that some types of power generation may change the situation from earning money to losing money despite the increasing spot price. Heavy restrictions on emissions penalise the fossil-fuelled technologies significantly, and the associated increase in the spot price need not compensate for this. Therefore, a market of TEPs is expected to have a significant influence on the electricity spot price. However, the expected price level of TEPs are met with great uncertainty and a study of a number of economical studies shows a price span between zero and 270 USD per ton of CO 2 depending on the participation or non-participation of countries in the scheme. The price-determination at the TGC market is expected to be closely related to the price at the power spot market as the RE-producers of electricity will have expectations to the total price paid for the energy produced, i.e., for the price of electricity at the spot market plus the price per kWh obtained at the green certificate mar-ket. In the Wilmar model, the TGC market can either be handled exogenously, i.e., the increase in renewable capacity and an average annual TGC price are determined outside the model, or a simple TGC module is developed, including the long-term supply functions for the most relevant renewable technologies and an overall TGC quota. Both solutions are rather simple, but to develop a more advanced model for the TGC market seems to be

Emissions trading comes of age as a strategic tool

International Nuclear Information System (INIS)

Pospisil, R.

1996-01-01

Trading of emissions credits has quickly evolved from a curiosity to a viable compliance strategy for electric utilities and power-generating industrial firms. A sure sign that emissions trading has matured is the entry of power marketers onto the scene; in bundling pollution allowances with their electricity offerings, they are making their product more attractive - and stealing a page from the coal companies' strategy book to boot. Although most current activity involves credits for sulfur dioxide (SO 2 ), nitrogen oxide (NO x ) trading is under way in certain areas as well, although NO x markets are local and thus slower to develop. However, utilities see economic development potential in this area; some are providing NO x credits to their industrial customers to help them comply with environmental regulations - and to retain their loyalty when deregulation affords them a choice of electricity suppliers. This paper briefly discusses the issues related to emissions trading

Renewable portfolio standard and certificates trading on the Dutch electricity market

International Nuclear Information System (INIS)

Drillsch, J.

2001-01-01

In 1996, the Dutch distribution companies signed a voluntary agreement to reduce CO 2 emissions. As one element of the agreement a renewable portfolio standard (RPS) for the electricity distribution companies with certificates trading was introduced (green label system). The analysis reveals that the total volume of the obligation (3%) can be considered as modest. In addition, it seems more appropriate to replace the distribution companies' current monopoly for the issuing of the certificates by an independent institution. A flexibility mechanism (e.g., a certificates' banking system), which prevents high volatilities in the certificates' market price, and a clear sanction mechanism is needed. A drawback of the current Dutch system is the discriminatory financing of the RPS, which is only provided by MAP tariff customers. Nevertheless, the Dutch RPS may induce an efficient allocation of financial means to support renewable energies. It provides valuable experiences in the functioning of the new system, from which other countries may gain. (author)

Risk management in a competitive electricity market

International Nuclear Information System (INIS)

Liu, Min; Wu, Felix F.

2007-01-01

In a competitive electricity market, it is necessary and important to develop an appropriate risk management scheme for trade with full utilization of the multi-market environment in order to maximize participants' benefits and minimize the corresponding risks. Based on the analyses to trading environments and risks in the electricity market, a layered framework of risk management for electric energy trading is proposed in this paper. Simulation results confirmed that trading among multiple markets is helpful to reduce the complete risk, and VaR provides a useful approach to judge whether the formed risk-control scheme is acceptable. (author)

The Effect of Stock Return Sequences on Trading Volumes

Directory of Open Access Journals (Sweden)

Andrey Kudryavtsev

2017-10-01

Full Text Available The present study explores the effect of the gambler’s fallacy on stock trading volumes. I hypothesize that if a stock’s price rises (falls during a number of consecutive trading days, then the gambler’s fallacy may cause at least some of the investors to expect that the stock’s price “has” to subsequently fall (rise, and thus, to increase their willingness to sell (buy the stock, resulting in a stronger degree of disagreement between the investors and a higher-than-usual stock trading volume on the first day when the stock’s price indeed falls (rises. Employing a large sample of daily price and trading volume data, I document that following relatively long sequences of the same-sign stock returns, on the days when the sign is reversed, the trading activity in the respective stocks is abnormally high. Moreover, average abnormal trading volumes gradually and significantly increase with the length of the preceding return sequence. The effect is slightly more pronounced following the sequences of negative stock returns, and remains significant after controlling for other potentially influential factors, including contemporaneous and lagged actual and absolute stock returns, historical stock returns and volatilities, and company-specific events, such as earnings announcements and dividend payments.

CO2 price dynamics. A follow-up analysis of the implications of EU emissions trading for the price of electricity

International Nuclear Information System (INIS)

Sijm, J.P.M.; Ten Donkelaar, M.; Hers, J.S.; Scheepers, M.J.J.; Chen, Y.

2006-03-01

The present study discusses the results of some follow-up analyses on the relationship between EU emissions trading and power prices, notably the implications of free allocations of CO2 emissions allowances for the price of electricity in Germany and the Netherlands. These analyses include: An update of the empirical and statistical analyses of the price trends and pass through rates of CO2 costs in the power sector of Germany and the Netherlands; An analysis by means of the model COMPETES of the potential effects of CO2 emissions trading on the wholesale market shares of the major power producers in the Netherlands; An analysis of two policy options to cope with certain adverse effects of passing through the opportunity costs of freely allocated CO2 emission allowances, i.e. less grandfathering to the major power producers - in favour of major electricity users - by either a more stringent allocation to the power generators or auctioning part of the allowances to these generators. A major finding of the present study is that dark/spark spreads of power production in Germany and the Netherlands have improved substantially in 2005, especially during the period August-December. Whereas valid CO2 pass through rates of 40 to 70 percent have been estimated for the first period of 2005 (January- July), estimates for the year 2005 as a whole - and particularly for the latter period August-December - seem to be less or not valid since other factors, such as market power or scarcity, seem also (or even more) responsible for the improvement of dark/spark spreads in the latter period of 2005 (while data are lacking to abstract for these other factors). Regarding the policy options to address adverse effects of CO2 cost pass through, the report concludes that a small degree of less grandfathering to the power producers (i.e. 10-20 percent of the allowances needed) will reduce their windfall profits accordingly, without a major, decisive impact on the operational and investment

What will a Mexican trade agreement mean to the US energy industry?

International Nuclear Information System (INIS)

Rodgers, L.M.

1991-01-01

This article examines the effects that a free trade agreement with Mexico will have on the American energy sector in the fuel supply or electricity generating side of the industry. Topics are oil and gas areas available to US enterprise, the import and export of electricity, schedule for completion of negotiations, and the protection of domestic US oil and gas resources

High Penetrated Wind Farm Impacts on the Electricity Price

DEFF Research Database (Denmark)

Haji Bashi, Mazaher; Yousefi, G. R.; Bak, Claus Leth

2016-01-01

of the high penetrated wind farm integration into electricity markets. Then, stochastic programming approach is employed to compare the volume of trades for a typical wind farm in a high and low wind penetrated market. Although increasing price spikes and volatility was reported in the literature......Energy trading policies, intermittency of wind farm output power, low marginal cost of the production, are the key factors that cause the wind farms to be effective on the electricity price. In this paper, the Danish electricity market is studied as a part of Nord Pool. Considering the completely...... fossil fuel free overview in Danish energy policies, and the currently great share of wind power (more than 100% for some hours) in supplying the load, it is an interesting benchmark for the future electricity markets. Negative prices, price spikes, and price volatility are considered as the main effects...

Trade liberalization and gender effects: a literature review for Colombia

Directory of Open Access Journals (Sweden)

Jairo Guillermo lsaza Castro

2016-04-01

Full Text Available This paper presents a literature review about thegender effects of trade liberalization with emphasisin Colombia. In addition, it reviews sorne theoreticalapproaches about trade and its interrelations withgender, poverty, inequality and labour markets.Based on the existing literature about the socialeffects of trade in Colombia, it concludes with sorneconsiderations for empirical research.

TRADE EFFECTS: REGULATORY, ACCOUNTING PRACTICES AND REPORTING OF INFORMATION RELATED

Directory of Open Access Journals (Sweden)

ARISTIŢA ROTILĂ

2014-05-01

Full Text Available It is known that within trade relations providers often credit customers for the value of goods or services which are the subject of conducted commercial transactions, this aspect being materialized in the issuance and acceptance of a trade effect. From the time of acceptance until maturity / settlement, trade effects should be reflected separately in the accounts and, to the extent that were not settled until the end of exercise, their value must be presented in the financial statements. Based on analysis of the Romanian accounting regulations, also taking into consideration the opinions expressed in specific literature concerning accounting reflection of trade effects, in this article we try to point out some aspects which, in our opinion, require clarification. We also want to point out some contradictions / inconsistencies regarding the reporting of information on the trade effects, specifically between the text of accounting regulations concerning the definition of accounting structures „cash and bank accounts” and “short term investments” and their contents when presented as positions in the balance sheet structure. In relation to the issues raised we try to prove the effects on the indicators concerning financial position and to make some suggestions that would have effects on Romanian accounting regulations, namely the improvement of financial reporting performed by the economic operators.

Regional Trade Agreement and Agricultural Trade in East African ...

African Journals Online (AJOL)

Intra-EAC trade is very low, that is, at 9 per cent of the total regional trade, but it is on upward trend. Agricultural trade accounts for over 40 per cent of the intra-EAC trade. This study investigated the effect of EAC regional trade agreement on the regions agricultural trade by analyzing the degree of trade creation and ...

Spatial equilibrium energy prices: a proposal for trade in electric power under deregulation and privatization of the generation sector

International Nuclear Information System (INIS)

Mukherjee, S.

1992-01-01

The concept of spatial equilibrium prices for electricity is presented based on incremental generating costs and transmission costs between major generating and load centers, which may be individual generators, utilities or countries. The equilibrium price changes in time and space, with the important property that these prices, if used for trading of electricity, results in all loads being served at minimal total cost. A network modeling approach for determining optimal operation of an interconnected system of utilities and independent generators simultaneously calculates these equilibrium prices. The methodology determines optimal generation by each utility, transactions between them, and the flows in the transmission network. 11 refs., 3 figs

Greenhouse gas emission factors of purchased electricity from interconnected grids

International Nuclear Information System (INIS)

Ji, Ling; Liang, Sai; Qu, Shen; Zhang, Yanxia; Xu, Ming; Jia, Xiaoping; Jia, Yingtao; Niu, Dongxiao; Yuan, Jiahai; Hou, Yong; Wang, Haikun; Chiu, Anthony S.F.; Hu, Xiaojun

2016-01-01

Highlights: • A new accounting framework is proposed for GHG emission factors of power grids. • Three cases are used to demonstrate the proposed framework. • Comparisons with previous system boundaries approve the necessity. - Abstract: Electricity trade among power grids leads to difficulties in measuring greenhouse gas (GHG) emission factors of purchased electricity. Traditional methods assume either electricity purchased from a grid is entirely produced locally (Boundary I) or imported electricity is entirely produced by the exporting grid (Boundary II) (in fact a blend of electricity produced by many grids). Both methods ignore the fact that electricity can be indirectly traded between grids. Failing to capture such indirect electricity trade can underestimate or overestimate GHG emissions of purchased electricity in interconnected grid networks, potentially leading to incorrectly accounting for the effects of emission reduction policies involving purchased electricity. We propose a “Boundary III” framework to account for emissions both directly and indirectly caused by purchased electricity in interconnected gird networks. We use three case studies on a national grid network, an Eurasian Continent grid network, and North Europe grid network to demonstrate the proposed Boundary III emission factors. We found that the difference on GHG emissions of purchased electricity estimated using different emission factors can be considerably large. We suggest to standardize the choice of different emission factors based on how interconnected the local grid is with other grids.

Trade Facilitation Provisions in Regional Trade Agreements: Discriminatory or Non-discriminatory?

Directory of Open Access Journals (Sweden)

Innwon Park

2016-12-01

Full Text Available The RTAs with trade facilitation provisions have been expected to generate a larger net trade-creating effect and complement the discriminatory feature of RTAs but have yet to be empirically proven. Recognizing the limitations of existing studies, we conducted a quantitative analysis on the effects of RTAs with and without trade facilitation provisions on both intra- and extra-bloc trade by using a modified gravity equation. We applied the Poisson Pseudo-Maximum Likelihood (PPML estimation with time varying exporter and importer fixed effect method to panel data consisting of 45,770 country pairs covering 170 countries for 2000-2010. We found that the trade facilitation provisions in existing RTAs are non-discriminatory by generating more intra- and extra-bloc trade in general. In particular, we found that the trade effects of RTAs in the APEC region are much stronger than the general case covering all RTAs in the world. In addition, as we control the trade effect of a country's trade facilitation, which is ranked by the World Bank's logistic performance index, RTAs consisting of trade facilitation provisions are discriminatory for trade in final goods and non-discriminatory for trade in intermediate goods. Overall, we endeavor to "explain," instead of "hypothesizing," why most of the recent RTAs contain trade facilitation provisions, especially in light of the deepening regional interdependence through trade in parts and components under global value chains and support the necessity of multilateralizing RTAs by implementing non-discriminatory trade facilitation provisions.

Emission Trading - Effects of the EU directive; Emission Trading - Auswirkungen der EG-Richtlinie

Energy Technology Data Exchange (ETDEWEB)

Meller, E. [Verband der Elektrizitaetswirtschaft -VDEW- e.V., Berlin (Germany)

2004-07-01

The EU-Directive on 'Establishing a Scheme for Greenhouse Gas Emission Allowance Trading within the Community' came into force after it had been published in the Official Journal of the EU. The electricity industry has pursued carefully and constructively the development of this Directive. A number of suggestions were taken into consideration. Currently, the focus - in connection with the adaptation by national legislation - is on the development of a national allocation plan. (orig.) [German] Knapp zwei Jahre nach der Vorlage eines Richtlinien-Entwurfs durch die Europaeische Kommission ist die Richtlinie zur 'Einfuehrung eines EU-weiten Handels mit Treibhausgas-Emissionszertifikaten' in Kraft getreten. Im Mittelpunkt der Umsetzung der Richtlinie in nationales Recht steht die Erstellung eines Nationalen Allokationsplans, dem Kernelement des Zertifikatehandels. Fuer die Stromwirtschaft relevante Aspekte werden eroertert. (orig.)

Electricity and emission allowance markets from Finnish viewpoint. Study

International Nuclear Information System (INIS)

Kara, M.

2006-05-01

During 1995.2005 the Nordic energy system has experienced two major changes, the opening of the electricity market for competition and emissions trading within the EU. The European Union's emissions trading scheme (EU ETS) that began operating at the beginning of 2005 has weakened the competitiveness of Finnish electricity production and raised electricity prices. Most electricity producers have accumulated large profits thanks to higher prices. The payers have been nearly all electricity users. This report studies the effects of emissions trading on the electricity market and the functionality of the power market. Very little investment has been made in power production capacity in the Nordic countries over the past ten years. Considerable increases have mainly been made in Danish wind power capacity. Simultaneously, the total consumption of electricity and maximum system load have increased more than installed capacity has grown. In the next few years the power and energy balances may be threatened. In previous years, Finland has often been separated as its own market price area on the Nordic power exchange. The formation of price areas has been affected by the limited capacity in transmission interconnectors, network reparation work and the operating method of the Swedish national system operator, Svenska Kraftnaet (transferring domestic bottlenecks to the borders). This study reviews the scale of price differences and the effect on market activities. On the common Nordic electricity market, Finnish coal and peat condensing power capacity is mainly used during poor precipitation years. These plants were once built for base load production. Carbon dioxide emissions trading has further weakened the competitiveness of these plants. The biggest problem for the Nordic power exchange, Nord Pool, is regarded to be that market concentration in electricity production is high. Market concentration decreases the investment willingness of existing players as new power

Trading CO2 emission; Verhandelbaarheid van CO2-emissies

Energy Technology Data Exchange (ETDEWEB)

De Waal, J.F.; Looijenga, A.; Moor, R.; Wissema, E.W.J. [Afdeling Energie, Ministerie van VROM, The Hague (Netherlands)

2000-06-01

Systems for CO2-emission trading can take many shapes as developments in Europe show. European developments for emission trading tend to comprehend cap and-trade systems for large emission sources. In the Netherlands a different policy is in preparation. A trading system for sheltered sectors with an option to buy reductions from exposed sectors will be further developed by a Commission, appointed by the minister of environment. Exposed sectors are committed to belong to the top of the world on the area of energy-efficiency. The authors point out that a cap on the distribution of energy carriers natural gas, electricity and fuel seems to be an interesting option to shape the trade scheme. A cap on the distribution of electricity is desirable, but not easy to implement. The possible success of the system depends partly on an experiment with emission reductions. 10 refs.

Slovenian and Spanish electricity markets

International Nuclear Information System (INIS)

Bregar, Z.

2004-01-01

Spanish electricity market has served as a basic model in the construction of the electricity market in Slovenia. However, in the final phase of its development additional solutions were adopted from other European and worldwide electricity markets. The electricity market thus obtained is in some aspects more complex and in others simpler with regard to the original model. This article describes two of the new solutions on the Slovenian electricity market: the introduction of numerous standardized electric energy products (Band, Peak, Off-peak, Hourly power etc.) to be traded on completely separate markets, and the introduction of continuous, real-time type trading on all of them but the hourly market.(author)

Electricity market design and risk management

International Nuclear Information System (INIS)

Boschi, Federico; Cervigni, Guido

2005-01-01

We show that each wholesale electricity market design trades-off between efficiency and liquidity. Efficiency requires that the product traded in the wholesale market closely reflect the physical features of electricity. Liquidity requires standardization of the products that ore traded on the wholesale market. We stress that Iiquidity comes at a cost since an excessive degree of standardization may lead to significant inefficiencies and forge wealth transfers among market participants [it

Trade creation and trade diversion in the Canada - United States Free Trade Agreement

OpenAIRE

Kimberly A. Clausing

2001-01-01

In this paper the changes in trade patterns introduced by the Canada-United States Free Trade Agreement are examined. Variation in the extent of tariff liberalization under the agreement is used to identify the impact of tariff liberalization on the growth of trade both with member countries and non-member countries. Data at the commodity level are used, and the results indicate that the Canada-United States Free Trade Agreement had substantial trade creation effects, with little evidence of ...

The reform of the Swedish electricity market

International Nuclear Information System (INIS)

Petsala, B.

1995-01-01

The objective of the ongoing reform of deregulation of the electricity market in Sweden is to create and improve the prerequisites for more efficient use of the generation and distribution, thus bringing about a more efficient price building. Similar reforms take place in the other Nordic countries. As a result of these changes the possibilities for international trade in electricity increases considerably. Tendencies towards concentration of production and distribution as well as increased vertical integration make it important for the State to monitor the development and if necessary suggest measures to counteract possible undesired effects. The national character of the former electricity market does no longer constitute a restriction to trade and the power companies already operate in each other's market. (author). 2 figs., 4 tabs., 6 refs

The adverse effect of real effective exchange rate change on trade balance in European transition countries

Directory of Open Access Journals (Sweden)

Selena Begović

2017-12-01

Full Text Available Most European transition countries have fixed or highly managed flexible exchange rate regimes. This exchange rate rigidity is sometimes argued to worsen the trade balance by keeping the currency overvalued. However, there is no unambiguous evidence that currency depreciation/devaluation positively affects trade balance and leads towards the adjustment, even in the short-run. Therefore, we examine the effect of real effective exchange rate (hereafter REER on trade balance in European transition economies over the period 2000-2015. By using fixed effect model for static and generalised method of moments for dynamic estimation, we find that there is an adverse effect of the REER on trade balance in European transition countries over the period 2000-2015. Namely, depreciation of REER deteriorates trade balance in European transition countries, which could be explained by high import dependence and low export capacity. This implies that policymakers in European transition countries should not use exchange rate policy to improve trade balance. This is important in the light of their accession towards European economic and monetary integration, implying that these countries should focus more on using fiscal, rather than monetary (and exchange rate, policy to adjust trade balance, which is one of the required real convergence towards the EU standards.

The EU Renewables Directive-What is the fuss about trading?

International Nuclear Information System (INIS)

Toke, David

2008-01-01

Considerable argument about trading in green electricity certificates (GECs) preceded the publication of the proposed EU Renewables Directive in early 2008. The proposed Directive set a binding target of 20 per cent of EU energy to be derived from renewable energy by 2020 broken down into targets for each member state. Those arguing for trade in green certificates, called certificates of guaranteed origin (GO), included major electricity companies. However, the idea of mandatory trading was opposed by the main renewable energy industry lobby groups. The proposed Directive limited trading in accordance with the demands of the renewables industry pressure groups. Analysis suggests that if member states were forced to trade to achieve a mandatory target of 20 per cent target, then GEC prices would rise to high levels because the demand for tradeable certificates would be much higher than their supply. Trading is unlikely to improve the prospects for meeting the targets. A system of nationally based 'feed-in tariff' systems would not face the problems of uncertain certificate prices faced by compulsory trading in GECs

Optimal trading based on ideal coordination

International Nuclear Information System (INIS)

Egeland, H.

1992-01-01

The author places more emphasis on the technical than on the economical aspects of trading with electric power. Calculation models which can be used to study this trade taking place under the influence of unequal preconditions in Denmark, Finland, Norway and Sweden are presented. It is suggested that trade between these countries is currently satisfactory and should be further developed. The advantages of standard contracts are mentioned. Forms of exchange of, for example, technology know-how between these Nordic countries in the process of connecting their distribution systems etc. would be most advantageous. (AB)

Trade Policy Preferences and the Factor Content of Trade

DEFF Research Database (Denmark)

Jäkel, Ina Charlotte; Smolka, Marcel

demonstrate that the factor price changes induced by trade policy are negatively correlated with the factor content of free trade (and therefore factor abundance). Using large-scale international survey data, we test whether these predicted distributional effects are reflected in the trade policy preferences...... of workers with different labor market skills. In order to isolate the effects of factor abundance from other skill-related confounding factors, we employ a within-skill-group estimator that exploits the cross-country variation in the factor content of free trade. In line with theory, the data show......This paper provides a theoretical and empirical analysis of public opinion towards free trade, investigating cleavages both between and within countries. We study the distributional effects of trade policy in a neoclassical economy with not just two, but many input factors in production. We...

What are the opportunities related to the trading of emission reductions in the electricity market?

International Nuclear Information System (INIS)

Lemieux, M.

2003-01-01

Gaz Metropolitain distributes approximately 97 per cent of the natural gas used in Quebec. It operates an 8300 kilometre (km) pipeline network and has 150,000 customers. Revenues in 2002 were 1.6 billion. Since 1990, Gaz Metropolitain has reduced its greenhouse gas (GHG) emissions by 30 per cent. After a brief look at the sources of energy in Quebec and their associated GHG emissions, the author discussed the viability of a closed emission trading system with only a limited number of permits. The system could be opened up through the creation of credits in excluded sectors. Under the Kyoto Protocol, countries are allocated emitting permits in an open system since the credits are included in the Protocol. In Canada, the federal government has announced that a domestic emission trading system will be implemented for large emitters. The thermal production sector will be covered by a system consisting of an exchange of rights. Electricity produced from renewable energy sources would be excluded from the system, and it is yet to be decided whether credits could be generated. The creation of credits under the Canadian plan was reviewed. The projects accepted under the Greenhouse Gas Emission Reduction Trading Pilot (GERT) were examined and the development of the project was described. Some of the projects under GERT include a new dam in Newfoundland, a wind power project in Alberta, and a biomass cogeneration project in British Columbia to name but a few. It was noted that quantifying emissions in the case of indirect reductions is complex but feasible. 3 refs., tabs., figs

Trade Measures for Regulating Transboundary Movement of Electronic Waste

Directory of Open Access Journals (Sweden)

Gideon Emcee Christian

2017-08-01

Full Text Available International trade in used electrical and electronics equipment (UEEE provides an avenue for socio-economic development in the developing world and also serves as a conduit for transboundary dumping of waste electrical and electronic equipment (WEEE also referred to as electronic waste or e-waste. The latter problem arises from the absence of a regulatory framework for differentiating between functional UEEE and junk e-waste. This has resulted in both functional UEEE and junk e-waste being concurrently shipped to developing countries under the guise of international trade in used electronics. Dealing with these problems will require effective regulation of international trade in UEEE from both exporting and importing countries. Although, the export of e-waste from the European Community to developing countries is currently prohibited, significant amount of e-waste from the region continue to flow into developing countries due to lax regulatory measures in the latter. Hence, there is need for a regulatory regime in developing countries to complement the prohibitory regime in the major e-waste source countries. This paper proposes trade measures modelled in line with WTO rules which could be adopted by developing countries in addressing these problems. The proposed measures include the development of a compulsory certification and labelling system for functional UEEE as well as trade ban on commercial importation of UEEE not complying with the said certification and labelling system. The paper then goes further to examine these proposed measures in the light of WTO rules and jurisprudence.

INDONESIAN TRADE UNDER CHINA FREE TRADE AREA

Directory of Open Access Journals (Sweden)

Tavi Supriana

2011-09-01

Full Text Available This paper investigates the implementation of CAFTA (China-Asean Free Trade Area on the international trade flows across Indonesia, China and the rest of ASEAN using a gravitation model. It finds the evidence that the influence of diversion and creation effects on China are significant, while the influence of both effects on Indonesia are not significant. It also finds that the diversion effect, which leads to a decrease in society’s wealth, is greater than that of the creation effect. As a consequence, the gap across countries involved in the trade agreement is wider. Keywords: CAFTA, gravitation model, diversion effect, creation effectJEL classification numbers: F13, F14, F15

Trade Openness and its Effects on Economic Growth in selected Asian Countries

OpenAIRE

Ganbold, Delgermaa

2014-01-01

This bachelor thesis examines the effect of international trade on economic growth in China, Kazakhstan and Mongolia. The determinants of international trade and their impact on economic development are reviewed in the Theoretical background. Subsequently, the countries' major trading factors and trade strategies which contribute to their economic growth are also analysed in this thesis. The main aim - the quantification of relationship between international trade and economic growth is appli...

International trade and employment: trade partner country effects on jobs and wages

NARCIS (Netherlands)

Fortanier, F.N.; Jaarsma, M.; Korvorst, M.

2011-01-01

Recent academic research has consistently identified trading firms - both exporters and importers - to be larger, and to pay higher wages than their non-trading counterparts. However, not all trade is equal: imports from low-wage countries may destroy employment, particularly among low-skilled

Evolving An Effective Trade Policy Against Agricultural Subsidies Of ...

African Journals Online (AJOL)

The response of developing countries to this trend has been a weak and uncoordinated trade policy. They have been unable to effectively curtail the onslaught of dumping. This paper is an analysis of Nigeria's trade policy in tackling the issue of agricultural subsidies. This took the form of an in-depth assessment of the ...

The gravity model specification for modeling international trade flows and free trade agreement effects: a 10-year review of empirical studies

OpenAIRE

Kepaptsoglou, Konstantinos; Karlaftis, Matthew G.; Tsamboulas, Dimitrios

2010-01-01

The gravity model has been extensively used in international trade research for the last 40 years because of its considerable empirical robustness and explanatory power. Since their introduction in the 1960's, gravity models have been used for assessing trade policy implications and, particularly recently, for analyzing the effects of Free Trade Agreements on international trade. The objective of this paper is to review the recent empirical literature on gravity models, highlight best practic...

Border carbon adjustments: Addressing emissions embodied in trade

International Nuclear Information System (INIS)

Sakai, Marco; Barrett, John

2016-01-01

Approximately one fourth of global emissions are embodied in international trade and a significant portion flows from non-carbon-priced to carbon-priced economies. Border carbon adjustments (BCAs) figure prominently as instruments to address concerns arising from unilateral climate policy. Estimating the volume of emissions that could be potentially taxed under a BCA scheme has received little attention until now. This paper examines how a number of issues involved in the implementation of BCAs can affect their ability to cover emissions embodied in trade and thus address carbon leakage. These issues range from ensuring compliance with trade provisions and assumptions on the carbon intensity of imports, to determining which countries are included and whether intermediate and final demand are considered. Here we show that the volume of CO_2 captured by a scheme that involved all Annex B countries could be significantly reduced due to these issues, particularly by trade provisions, such as the principle of ‘best available technology’ (BAT). As a consequence, the tariff burdens faced by non-Annex B parties could dwindle considerably. These findings have important policy implications, as they question the effectiveness and practicalities of BCAs to reduce carbon leakage and alleviate competitiveness concerns, adding further arguments against their implementation. - Highlights: •We estimate the volume of emissions that could be potentially taxed by BCAs. •We study the effects of trade provisions and country and sectoral coverage on BCAs. •Trade provisions can significantly reduce the scope and effectiveness of BCAs. •Best available technology and exclusion of electricity reduce tariffs considerably. •BCAs are not optimal policy tools to address carbon leakage concerns.

The Effect of Depreciation of the Exchange Rate on the Trade Balance of Albania

Directory of Open Access Journals (Sweden)

Kurtović Safet

2017-06-01

Full Text Available Almost all countries face the problems of trade balance, although they are more inherent in developing countries and economies in transition. A majority of economists adheres to a common opinion real depreciation may lead to an improvement of the trade balance. That said, countries encountering trade balance issues use real exchange rate depreciation in order to improve the trade balance situation. Albania belongs to the group of transition countries that has been facing negative trade balance over last two decades. National currency devaluations of the lek (ALL have been used by Albania to improve its trade balance. Therefore, this paper intends to investigate the effect of the real effective exchange rate depreciation of the ALL on the trade balance of Albania using quarterly data from 1994 to 2015. Bounds testing cointegration approach, vector error correction model (VECM and impulse response were used for empirical analysis. The results of the study show that there exists a long-term cointegration between the real effective exchange rate depreciation and the trade balance. Specifically, real effective exchange rate depreciation positively affects the trade balance of Albania in both the long-run and short-run indicating the weak presence of the J-curve effect. Important recommendations were derived from the results.

Electricity market 2000

Energy Technology Data Exchange (ETDEWEB)

Korsfeldt, T.; Petsala, B.

2000-08-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment.

Electricity market 2000

International Nuclear Information System (INIS)

Korsfeldt, T.; Petsala, B.

2000-08-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

Electricity and Sustainability

DEFF Research Database (Denmark)

Nørgaard, Jørgen

1998-01-01

This invited presentation first deals with the potentials and environmantal advantages of reducing electricity demand. The policies for implementing these savings are dicussed and proposal for future strategies are suggested. The mephasis is on the conflicts between a free European trade with ele......This invited presentation first deals with the potentials and environmantal advantages of reducing electricity demand. The policies for implementing these savings are dicussed and proposal for future strategies are suggested. The mephasis is on the conflicts between a free European trade...

Welfare Impact of Virtual Trading on Wholesale Electricity Markets

Science.gov (United States)

Giraldo, Juan S.

Virtual bidding has become a standard feature of multi-settlement wholesale electricity markets in the United States. Virtual bids are financial instruments that allow market participants to take financial positions in the Day-Ahead (DA) market that are automatically reversed/closed in the Real-Time (RT) market. Most U.S. wholesale electricity markets only have two types of virtual bids: a decrement bid (DEC), which is virtual load, and an increment offer (INC), which is virtual generation. In theory, financial participants create benefits by seeking out profitable bidding opportunities through arbitrage or speculation. Benefits have been argued to take the form of increased competition, price convergence, increased market liquidity, and a more efficient dispatch of generation resources. Studies have found that price convergence between the DA and RT markets improved following the introduction of virtual bidding into wholesale electricity markets. The improvement in price convergence was taken as evidence that market efficiency had increased and many of the theoretical benefits realized. Persistent price differences between the DA and RT markets have led to calls to further expand virtual bidding as a means to address remaining market inefficiencies. However, the argument that price convergence is beneficial is extrapolated from the study of commodity and financial markets and the role of futures for increasing market efficiency in that context. This viewpoint largely ignores details that differentiate wholesale electricity markets from other commodity markets. This dissertation advances the understanding of virtual bidding by evaluating the impact of virtual bidding based on the standard definition of economic efficiency which is social welfare. In addition, an examination of the impacts of another type of virtual bid, up-to-congestion (UTC) transactions is presented. This virtual product significantly increased virtual bidding activity in the PJM interconnection

Long-run Effects of the Korea-China Free-Trade Agreement

Directory of Open Access Journals (Sweden)

Sunghyun Kim

2015-06-01

Full Text Available This paper uses a 53-country 15-industry computable general equilibrium model of trade to analyze the effects of the Korea-China free trade agreement on the Korean economy, the manufacturing sector in particular. The model is based on Yaylaci and Shikher (2014 which uses the Eaton-Kortum methodology to explain intra-industry trade. The model predicts that the Korea-China FTA will increase Korea-China manufacturing trade by 56%, manufacturing employment in Korea by 5.7% and China by 0.55%. The model also predicts significant reallocation of employment across industries with the Food industry in Korea losing jobs and other industries there gaining jobs, with the Medical equipment industry gaining the most. There will be some trade diversion from the ASEAN countries, as well as Japan and the United States.

Cultural Effects of Trade Liberalization

OpenAIRE

Steven M. Suranovic; Robert Winthrop

2005-01-01

We incorporate culture into a standard trade model in two distinct ways. In the ¡°cultural affinity from work¡± model, workers receive a non- pecuniary cultural benefit from work in a particular industry. In the ¡°cultural externality¡± model, consumers of a product receive utility from other consumer¡¯s consumption of a domestic good. We show that resistance to change due to cultural concerns can reduce the national benefits from trade liberalization. Complete movements to free trade will ha...

Swiss electricity statistics 1996

International Nuclear Information System (INIS)

1997-01-01

This detailed article discusses the following subjects: Survey of electricity supply in Switzerland in 1996; The Swiss electricity balance; Electric power generation; Electric power consumption; Generation, consumption and loads on selected days; Energy trade with other countries; Expansion capacities until 2003; Financial situation and appendix. (orig./RHM) [de

Electric power in Canada 1992

Energy Technology Data Exchange (ETDEWEB)

NONE

1994-12-31

Electric power in Canada is given a comprehensive review by the Electricity Branch of the Department of Natural Resources Canada. The Electric Power Industry is scrutinized for electricity consumption, generation, trade and pricing across all of Canada. 98 tabs. 26 figs.

Electric power in Canada 1992

International Nuclear Information System (INIS)

1993-01-01

Electric power in Canada is given a comprehensive review by the Electricity Branch of the Department of Natural Resources Canada. The Electric Power Industry is scrutinized for electricity consumption, generation, trade and pricing across all of Canada. 98 tabs. 26 figs

Estimating the elasticity of trade: the trade share approach

OpenAIRE

Mauro Lanati

2013-01-01

Recent theoretical work on international trade emphasizes the importance of trade elasticity as the fundamental statistic needed to conduct welfare analysis. Eaton and Kortum (2002) proposed a two-step method to estimate this parameter, where exporter fixed effects are regressed on proxies for technology and wages. Within the same Ricardian model of trade, the trade share provides an alternative source of identication for the elasticity of trade. Following Santos Silva and Tenreyro (2006) bot...

Policy design and performance of emissions trading markets: an adaptive agent-based analysis.

Science.gov (United States)

Bing, Zhang; Qinqin, Yu; Jun, Bi

2010-08-01

Emissions trading is considered to be a cost-effective environmental economic instrument for pollution control. However, the pilot emissions trading programs in China have failed to bring remarkable success in the campaign for pollution control. The policy design of an emissions trading program is found to have a decisive impact on its performance. In this study, an artificial market for sulfur dioxide (SO2) emissions trading applying the agent-based model was constructed. The performance of the Jiangsu SO2 emissions trading market under different policy design scenario was also examined. Results show that the market efficiency of emissions trading is significantly affected by policy design and existing policies. China's coal-electricity price system is the principal factor influencing the performance of the SO2 emissions trading market. Transaction costs would also reduce market efficiency. In addition, current-level emissions discharge fee/tax and banking mechanisms do not distinctly affect policy performance. Thus, applying emissions trading in emission control in China should consider policy design and interaction with other existing policies.

Exchange rate and trade balance: J-curve effect

Directory of Open Access Journals (Sweden)

Petrović Pavle

2010-01-01

Full Text Available This paper shows that exchange rate depreciation in Serbia improves trade balance in the long run, while giving rise to a J-curve effect in the short run. These results add to the already existent empirical evidence for a diverse set of other economies. Both Johansen's and autoregressive distributed lag approach are respectively used giving similar long-run estimates showing that real depreciation improves trade balance. Corresponding errorcorrection models as well as impulse response functions indicate that, following currency depreciation, trade balance first deteriorates before it later improves, i.e. exhibiting the J-curve pattern. These results are relevant for policy making both in Serbia and in a number of other emerging Europe countries as they face major current account adjustments after BoP crises of 2009.

The ASEAN Free Trade Agreement: impact on trade flows and external trade barriers

OpenAIRE

Hector Calvo-Pardo; Caroline Freund; Emanuel Ornelas

2009-01-01

Using detailed data on trade and tariffs from 1992-2007, the authors examine how the ASEAN Free Trade Agreement has affected trade with nonmembers and external tariffs facing nonmembers. First, the paper examines the effect of preferential and external tariff reduction on import growth from ASEAN insiders and outsiders across HS 6-digit industries. The analysis finds no evidence that prefe...

Additive versus multiplicative trade costs and the gains from trade

DEFF Research Database (Denmark)

Sørensen, Allan

This paper addresses welfare effects from trade liberalization in a heterogeneous-fi…rms trade model including the empirically important per-unit (i.e. additive) trade costs in addition to the conventional iceberg (i.e. multiplicative) and fi…xed trade costs. The novel contribution of the paper...... is the result that the welfare gain for a given increase in trade openness is higher for reductions in per-unit (additive) trade costs than for reductions in iceberg (multiplicative) trade costs. The ranking derives from differences in intra-industry reallocations and in particular from dissimilar impacts...

The impact of Australian ETS news on wholesale spot electricity prices. An exploratory analysis

International Nuclear Information System (INIS)

Chevallier, Julien

2010-01-01

This article investigates the impact of news concerning the development of emissions trading in Australia (such as the Carbon Pollution Reduction Scheme (CPRS)) on wholesale electricity spot prices, by using a database of 117 news announcements from December 1, 1998 to July 1, 2009. As power producers constitute the bulk of the participants of the proposed Australian emissions trading scheme, regulatory changes (about allocation, banking, coverage, targets) are indeed likely to affect the five interconnected electricity markets in New South Wales, Queensland, South Australia, Victoria, and Tasmania. We assess these effects with an ARMA(1,1)-GARCH(1,1) model, where daily electricity spot prices are regressed against exogenous variables in the mean and variance equations. This article constitutes the first empirical analysis of Australian ETS news effects on electricity wholesale spot prices. Our results show two asymmetric types of news effects, depending on their information content. (author)

The impact of Australian ETS news on wholesale spot electricity prices. An exploratory analysis

Energy Technology Data Exchange (ETDEWEB)

Chevallier, Julien [Universite Paris Dauphine, Place du Marechal de Lattre de Tassigny, 75775 Paris Cedex 16 (France)

2010-08-15

This article investigates the impact of news concerning the development of emissions trading in Australia (such as the Carbon Pollution Reduction Scheme (CPRS)) on wholesale electricity spot prices, by using a database of 117 news announcements from December 1, 1998 to July 1, 2009. As power producers constitute the bulk of the participants of the proposed Australian emissions trading scheme, regulatory changes (about allocation, banking, coverage, targets) are indeed likely to affect the five interconnected electricity markets in New South Wales, Queensland, South Australia, Victoria, and Tasmania. We assess these effects with an ARMA(1,1)-GARCH(1,1) model, where daily electricity spot prices are regressed against exogenous variables in the mean and variance equations. This article constitutes the first empirical analysis of Australian ETS news effects on electricity wholesale spot prices. Our results show two asymmetric types of news effects, depending on their information content. (author)

The impact of Australian ETS news on wholesale spot electricity prices: An exploratory analysis

Energy Technology Data Exchange (ETDEWEB)

Chevallier, Julien, E-mail: julien.chevallier@dauphine.f [Universite Paris Dauphine, Place du Marechal de Lattre de Tassigny, 75775 Paris Cedex 16 (France)

2010-08-15

This article investigates the impact of news concerning the development of emissions trading in Australia (such as the Carbon Pollution Reduction Scheme (CPRS)) on wholesale electricity spot prices, by using a database of 117 news announcements from December 1, 1998 to July 1, 2009. As power producers constitute the bulk of the participants of the proposed Australian emissions trading scheme, regulatory changes (about allocation, banking, coverage, targets) are indeed likely to affect the five interconnected electricity markets in New South Wales, Queensland, South Australia, Victoria, and Tasmania. We assess these effects with an ARMA(1,1)-GARCH(1,1) model, where daily electricity spot prices are regressed against exogenous variables in the mean and variance equations. This article constitutes the first empirical analysis of Australian ETS news effects on electricity wholesale spot prices. Our results show two asymmetric types of news effects, depending on their information content.

Carbon savings with transatlantic trade in pellets: accounting for market-driven effects

International Nuclear Information System (INIS)

Wang, Weiwei; Khanna, Madhu; Dwivedi, Puneet; Abt, Robert

2015-01-01

Exports of pellets from the United States (US) are growing significantly to meet the demand for renewable energy in the European Union. This transatlantic trade in pellets has raised questions about the greenhouse gas (GHG) intensity of these pellets and their effects on conventional forest product markets in the US. This paper examines the GHG intensity of pellets exported from the US using either forest biomass only or forest and agricultural biomass combined. We develop an integrated dynamic, price-endogenous, partial equilibrium model of the forestry, agricultural, and transportation sectors in the US to investigate not only the direct life-cycle GHG intensity of pellets but also the accompanying indirect market and land use effects induced by changes in prices of forest and agricultural products over the 2007–2032 period. Across different scenarios of high and low pellet demand that can be met with either forest biomass only or with forest and agricultural biomass, we find that the GHG intensity of pellet based electricity is 74% to 85% lower than that of coal-based electricity. We also find that the GHG intensity of pellets produced using agricultural and forest biomass is 28% to 34% lower than that of pellets produced using forest biomass only. GHG effects due to induced direct and indirect changes in forest carbon stock caused by changes in harvest rotations, changes in land use and in conventional wood production account for 11% to 26% of the overall GHG intensity of pellets produced from forest biomass only; these effects are negative with the use of forest and agricultural biomass. (letter)

Culture impacts the magnitude of the emotion-induced memory trade-off effect.

Science.gov (United States)

Gutchess, Angela; Garner, Lauryn; Ligouri, Laura; Konuk, Ayse Isilay; Boduroglu, Aysecan

2017-10-04

The present study assessed the extent to which culture impacts the emotion-induced memory trade-off effect. This trade-off effect occurs because emotional items are better remembered than neutral ones, but this advantage comes at the expense of memory for backgrounds such that neutral backgrounds are remembered worse when they occurred with an emotional item than with a neutral one. Cultures differ in their prioritisation of focal object versus contextual background information, with Westerners focusing more on objects and Easterners focusing more on backgrounds. Americans, a Western culture, and Turks, an Eastern-influenced culture, incidentally encoded positive, negative, and neutral items placed against neutral backgrounds, and then completed a surprise memory test with the items and backgrounds tested separately. Results revealed a reduced trade-off for Turks compared to Americans. Although both groups exhibited an emotional enhancement in item memory, Turks did not show a decrement in memory for backgrounds that had been paired with emotional items. These findings complement prior ones showing reductions in trade-off effects as a result of task instructions. Here, we suggest that a contextual-focus at the level of culture can mitigate trade-off effects in emotional memory.

Effects Of Trade Liberalization Policy On The Performance Of Small ...

African Journals Online (AJOL)

The Majority of food processors (i.e. 94 %) were established after the introduction of trade liberalization policy in 1983, and about 67 % sourced raw materials locally and 55 % financed businesses from own savings and profits. The trade liberalization policy had a positive effect on the output growth of SMS food processing ...

Interactions between energy efficiency and emission trading under the 1990 Clean Air Act Amendments

International Nuclear Information System (INIS)

Hillsman, E.L.; Alvic, D.R.

1994-08-01

The 1990 Clean Air Act Amendments affect electric utilities in numerous ways. The feature that probably has received the greatest attention is the provision to let utilities trade emissions of sulfur dioxide (SO 2 ), while at the same time requiring them to reduce S0 2 emissions in 2000 by an aggregate 43%. The emission trading system was welcomed by many as a way of reducing the cost of reducing emissions, by providing greater flexibility than past approaches. This report examines some of the potential interactions between trading emissions and increasing end-use energy efficiency. The analysis focuses on emission trading in the second phase of the trading program, which begins in 2000. The aggregate effects, calculated by an emission compliance and trading model, turn out to be rather small. Aggressive improvement of end-use efficiency by all utilities might reduce allowance prices by $22/ton (1990 dollars), which is small compared to the reduction that has occurred in the estimates of future allowance prices and when compared to the roughly $400/ton price we estimate as a base case. However, the changes in the allowance market that result are large enough to affect some compliance decisions. If utilities in only a few states improve end-use efficiency aggressively, their actions may not have a large effect on the price of an allowance, but they could alter the demand for allowances and thereby the compliance decisions of utilities in other states. The analysis shows how improving electricity end-use efficiency in some states can cause smaller emission reductions in other states, relative to what would have happened without the improvements. Such a result, while not surprising given the theory behind the emission trading system, is upsetting to people who view emissions, environmental protection, and energy efficiency in moral rather than strictly economic terms

Restructuring Electricity Markets when Demand is Uncertain

DEFF Research Database (Denmark)

Boom, Anette; Buehler, Stefan

2006-01-01

We examine the effects of reorganizing electricity markets on capacity investments, retail prices and welfare when demand is uncertain. We study the following market configurations: (i) integrated monopoly, (ii) integrated duopoly with wholesale trade, and (iii) separated duopoly with wholesale...... trade. Assuming that wholesale prices can react to changes in retail prices (but not vice versa), we find that generators install sufficient capacity to serve retail demand in each market configuration, thus avoiding blackouts. Furthermore, aggregate capacity levels and retail prices...

On the effectiveness of regulatory vs voluntary vs strategies for increasing the share of renewable in electricity generation

Energy Technology Data Exchange (ETDEWEB)

Haas, Reinhard; Huber, Claus; Resch, Gustav; Faber, Thomas [Vienna Univ. of Technology, Energy Economics Group, Vienna (Austria)

2003-09-01

The promotion of electricity generation from renewable energy sources (RES-E) has a high priority in the energy policy strategies of many countries world-wide. To meeting this objective in recent years a wide variety of deployment strategies and dissemination programmes for RES-E has been launched by quite different organizations and institutions. The core focus of this paper is to extract under which conditions various strategies are effective for substantially boosting RES in the future. Moreover, it is analysed what are the most important regulatory conditions for implementing voluntary (Green Pricing, voluntary green electricity trade) and regulatory (TGC-based quotas, bidding feed-in tariffs) promotion strategies for RES-E. The most important results and conclusions of this analysis are: Regardless which instrument is chosen the careful design of a strategy is of paramount importance; Focus on new capacities: It is of paramount importance that a promotional system does not mix existing (at least fully depreciated) and new capacities. Hence, Green Pricing strategies as well as regulatory approaches should have a strong focus on new capacity; Credibility: To provide confidence among the industry and investors it must be guaranteed by highly credible sources that a strategy survives a certain planning horizon; Feed-in tariffs are an effective instrument if a policy is introduced on a national level and if the rates are optimally designed e.g. using a stepped feed-in tariff; Of high relevance for quotas based on tradable certificates is that the penalty for not purchasing a certificate is higher than the worst case of investment; With respect to voluntary strategies -e.g. Green Power Marketing- the minimum requirement for a label is that it guarantees at least that the proportional increase in total electricity demand is provided by new capacities; With respect to international trading of Green electricity at least one of the following conditions must be fulfilled

Quebec-USA electricity export contracts

International Nuclear Information System (INIS)

Labbe, J.-F.

1993-06-01

Electricity exports from Hydro-Quebec to utilities in the USA significantly affects the economy and environment of Quebec. These exports may be arranged under interconnection agreements to sell excess capacity and production during off-peak periods or under firm sales contracts. Hydro-Quebec exports could also replace power plants that would otherwise be needed in the USA. The economic environment for Hydro-Quebec exports to the USA is reviewed along with the regulatory environment applicable to international trade (General Agreement on Tariffs and Trade, Canada-USA Free Trade Agreement, North American Free Trade Agreement), Quebec (Canadian federal and provincial law), and the USA (federal and state law). A jurisdictional analysis of power export contracts is then presented, citing examples of contracts already signed by Hydro-Quebec with utilities in New York and New England. Contract law and contract provisions are discussed, including common clauses and particular clauses. Suggestions are made for new clauses that would improve the electricity trade. 215 refs., 13 figs., 3 tabs

What is the appropriate counterfactual when estimating effects of multilateral trade policy reform?

DEFF Research Database (Denmark)

Anderson, Kym; Jensen, Hans Grinsted; Nelgen, Signe

2016-01-01

the counterfactual price distortions in 2030 are shown to be much larger in the case where agricultural protection grows endogenously than in the case assuming no policy changes over the projection period. This suggests the traditional way of estimating effects of a multilateral agricultural trade agreement may...... of the DDA’s possible effects thus requires first modelling the world economy to 2030 and, in that process, projecting what trade-related policies might be by then without a DDA. Typically, modelers assume the counterfactual policy regime to be a ‘business-as-usual’ projection assuming the status quo. Yet we...... by projecting the world economy to 2030 using the Global Trade Analysis Project (GTAP) model with those two alternative policy regimes and then simulating a move to global free trade (the maximum benefit from a multilateral trade reform) in each of those two cases. The welfare effects of removing...

The electricity market 2003

International Nuclear Information System (INIS)

2003-01-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. We now have a common Nordic electricity market that includes all of the Nordic countries, with the exception of Iceland. The objective of the electricity market reform is to introduce increased competition, to give consumers greater freedom of choice and also, by open and increased trade in electricity, create the conditions for efficient pricing. The Swedish Energy Agency is the supervisory authority specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and regularly compile and report current market information. The purpose of 'The Electricity Market 2003' publication is to meet the need for generalized and easily accessible information on the conditions on the Nordic market. The publication also includes summaries of the information from recent years concerning power generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

Trade Openness Effect on Income Inequality: Empirical Evidence from Indonesia

Directory of Open Access Journals (Sweden)

Lestari Agusalim

2018-01-01

Full Text Available This research analyzed the effect of international trade openness to income inequality in Indonesia using Vector Error Correction Model (VECM. The data used is the secondary data, which are the export-import value, gross domestic product (GDP, GDP per capita, open unemployment rate, and Gini index. The results of this study indicate that in the short term the trade openness has negative impact significantly on the income inequality. However, in the long-run, it does not show any significant effect in decreasing the income inequality rate. The impulse response function (IRF concluded that income inequality gives a positive response, except on the third year. Based on the forecast error variance decomposition (FEDV, the trade openness does not provide any significant contribution in effecting the income inequality in Indonesia, but economic growth does. Nevertheless, in long-term, the economic growth makes the income inequality getting worse than in the short-term.DOI: 10.15408/sjie.v7i1.5527

Effects of climate change on the production and consumption of electricity in Finland

International Nuclear Information System (INIS)

Kuivalainen, P.; Forsius, J.; Maekinen, P.

1996-01-01

The purpose of this study was to use the latest knowledge about the greenhouse effect and its impact on electricity production and consumption in Finland and so to update the former study of Aittoniemi made at IVO in 1990. This research used the new climate change scenarios which were drawn up in the Nordic research project entitled Climate Change and Energy Production, financed by the Nordic Council of Ministers, and in the Finnish Research Programme on Climate Change, SILMU. These scenarios have been specially made for Finland, and are thus more suitable than the former global models. The base scenario was chosen to be the year 2025 with no climate change, and the climate change-affected years studied were 2025 and 2100. The base scenario of electricity consumption and production took advantage of the scenario of Ministry of Trade and Industry made at the end of the 1980s. Some changes were essential, however, since the present development proves that some of the assumptions concerning power production forms will not be relevant in 2025. Based on the known dependencies between electricity consumption and temperature, impacts were calculated for each affected consumption sector: electric heating, household consumption and industrial consumption, process industry excluded. The total effect on the supply system was estimated with the KAPAS model, developed for capacity planning of Finland. According to the results, the effects of the projected climate change on the total consumption and production of electricity will be limited. The structure of both electricity consumption and production will remain rather similar, the most important changes applying to hydro power. (13 refs.)

The Power Trading Agent Competition

NARCIS (Netherlands)

Ketter, W.; Collins, J.; Reddy, P.; Flath, C.; De Weerdt, M.M.

2011-01-01

This is the specification for the Power Trading Agent Competition for 2012 (Power TAC 2012). Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through tariff contracts,

The Power Trading Agent Competition

NARCIS (Netherlands)

W. Ketter (Wolfgang); J. Collins (John); P. Reddy (Prashant); C. Flath (Christoph); M.M. de Weerdt (Mathijs)

2011-01-01

textabstractThis is the specification for the Power Trading Agent Competition for 2012 (Power TAC 2012). Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through tariff

2004 energy balances and electricity profiles

International Nuclear Information System (INIS)

2007-02-01

The Energy Balances and Electricity Profiles 2004 is the thirteenth issue in an internationally series of comparable energy data for selected developing countries. The data are arranged to show energy production, trade, conversion and consumption for each fuel used in the country. This publication is a source of overall consumption statistics of energy commodities in all sectors. Special electricity profiles for an additional group of countries are published to cover, exclusively, detailed information on production, trade and consumption of electricity, net installed capacity and thermal power plant input for selected developing countries

Distributed energy generation techniques and the competitive fringe effect in electricity markets

NARCIS (Netherlands)

Mulder, Machiel; Petrikaite, Vaiva; Scholtens, Bert

2015-01-01

We analyse the impact of two different generation techniques used by fringe suppliers on the intensity of competition in the electricity wholesale market. For that purpose, we derive a Cournot model of this market taking into account long-term contracts, international trade and fringe suppliers

Impacts of the Japan-Mexico EPA on Bilateral Trade

OpenAIRE

ANDO Mitsuyo; URATA Shujiro

2011-01-01

This paper examines the impacts of the Japan-Mexico EPA on bilateral trade by using two different types of information, trade statistics and the EPA utilization rate. Using trade data, we found that Japan's exports of built-up cars, auto parts, base metals, electrical machinery, precision machinery, and ballpoint pens to Mexico increased sharply. We also found that Japan's imports of live animals and products, leather, and footwear with leather from Mexico increased significantly. These are s...

Exchange Rate Effects on International Commercial Trade Competitiveness

Directory of Open Access Journals (Sweden)

Ionel Bostan

2018-04-01

Full Text Available This study is meant to be an evaluation sustained by theoretical and empirical considerations of the exchange rate impact on international commercial trade competitiveness. In this respect, the study aims to find how the exchange rate influences Romanian competitiveness through assessing the effects generated on exports and imports. The main purpose of the study is to assess the complex action of the exchange rate on international commercial trade competitiveness in contemporaneity and the connections between these variables. The empirical part contains a regression analysis where exports and imports are dependent variables influenced by a series of determinants.

Quota regime for renewable energy sources and Green Labels trading in the electricity market of the Netherlands

International Nuclear Information System (INIS)

Drillisch, J.

1998-01-01

The renewables quota regime combined with a ''green electricity'' labelling and trading system, implemented by the Dutch association of distribution undertakings, is the first of its kind in Europe. The distribution undertakings are bound by a commitment to take and distribute ''green label'' electricity from renewables amounting to approx. 3% of their total sales to contractual customers. This is a modest percentage, but the quota regime already proved to be a promoter of close-to-the-market generation technologies. It would be too early now to make a final statement on the quota regime's influence on enhanced use of renewable energy sources. Practice so far also revealed the need for some modifications in the design of the pricing system for''green electricity''. Current debates consider integration of renewable energy sources abroad. The first accounting date for giving evidence of compliance with the commitment to green label quotas is late in the year 2000. This will be the test for the system and the efficiency of sanctions provided for in case of non-compliance. It will be a task of the future to examine whether it might be appropriate to establish a similar system for the heat market. (RHM/CB) [de

Wholesale electricity markets indicators - September 2013

International Nuclear Information System (INIS)

2013-09-01

The wholesale electricity markets indicators publication aims to provide general monitoring indicators about: wholesale electricity prices, electricity trade between France and neighboring countries, fuel prices, availability and capacity of power generation means, and grid interconnections

Wholesale electricity market indicators - December 2013

International Nuclear Information System (INIS)

2013-12-01

The wholesale electricity markets indicators publication aims to provide general monitoring indicators about: wholesale electricity prices, electricity trade between France and neighboring countries, fuel prices, availability and capacity of power generation means, and grid interconnections

Welfare and competition effects of electricity interconnection between Ireland and Great Britain

International Nuclear Information System (INIS)

Malaguzzi Valeri, Laura

2009-01-01

This study analyzes the effects of additional interconnection on welfare and competition in the Irish electricity market. I simulate the wholesale electricity markets of the island of Ireland and Great Britain for 2005. I find that in order for the two markets to be integrated in 2005, additional interconnection would have to be large. The amount of interconnection decreases for high costs of carbon, since this causes the markets to become more similar. This suggests that in the absence of strategic behavior of firms, most of the gains from trade derive not from differences in size between countries, but from technology differences and are strongly influenced by fuel and carbon costs. Social welfare increases with interconnection, although at a decreasing rate. As the amount of interconnection increases, there are also positive effects on competition in Ireland, the less competitive of the two markets. Finally, it is unlikely that private investors will pay for the optimal amount of interconnection since their returns are significantly smaller than the total social benefit of interconnection. (author)

Danish electricity supply. Statistics 2003

International Nuclear Information System (INIS)

2004-01-01

The Association of Danish Electric Utilities each year issues the statistical yearbook 'Danish electricity supply'. By means of brief text, figures, and tables a description is given of the electric supply sector. The report presents data for the year 2003 for consumption, prices of electric power, power generation and transmission, and trade. (ln)

Danish electricity supply. Statistics 2000

International Nuclear Information System (INIS)

2001-07-01

The Association of Danish Electric Utilities each year issues the statistical yearbook 'Danish electricity supply'. By means of brief text, figures, and tables a description is given of the electric supply sector. The report presents data for the year 2000 for consumption, prices of electric power; power generation and transmission, and trade. (ln)

Danish electricity supply. Statistics 2002

International Nuclear Information System (INIS)

2003-01-01

The Association of Danish Electric Utilities each year issues the statistical yearbook 'Danish electricity supply'. By means of brief text, figures, and tables a description is given of the electric supply sector. The report presents data for the year 2002 for consumption, prices of electric power; power generation and transmission, and trade. (ln)

Swiss electricity statistics 2003

International Nuclear Information System (INIS)

2004-01-01

This publication by the Swiss Federal Office of Energy (SFOE) provides statistical information on electricity supply, production, trading and consumption in Switzerland in 2003. Apart from a general overview of the Swiss electricity supply that includes details on power generation, energy transfer with neighbouring countries and data on prices, average consumption and capital investment, the article also includes graphical representations of electrical energy flows in and out of Switzerland. Tables of data give information on electricity production, import and export for the years 1950 to 2003, the data being supplied for each hydrological year and the summer and winter seasons respectively. The structure of power production in Switzerland is examined in detail and compared with that of foreign countries. Details are given on the development of production capacities and the various means of production together with their respective shares of total production. Further tables and diagrams provide information on power production in various geographical regions and on the management of pumped storage hydro-electricity schemes. A further chapter deals in detail with the consumption of electricity, its growth between 1984 and 2003 and its use in various sectors. A fifth chapter examines electricity consumption, generation, import and export on single, typical days, presenting data in tables and diagrams. The next chapter examines energy transfer with foreign countries and the trading structures involved. The next two chapters cover the future developments in energy exchange and trading with foreign countries and the possibilities of augmenting power generation capacities up to 2010. The final chapter looks at economic considerations involved in the supply of electricity. An annex provides detailed tables of data

Swiss electricity statistics 2003

International Nuclear Information System (INIS)

2004-01-01

This publication by the Swiss Federal Office of Energy (SFOE) for the Swiss Federal Office of Energy (SFOE) provides statistical information on electricity supply, production, trading and consumption in Switzerland in 2003. Apart from a general overview of the Swiss electricity supply that includes details on power generation, energy transfer with neighbouring countries and data on prices, average consumption and capital investment, the publication also includes graphical representations of electrical energy flows in and out of Switzerland. Tables of data give information on electricity production, import and export for the years 1950 to 2003, the data being supplied for each hydrological year and the summer and winter seasons respectively. The structure of power production in Switzerland is examined in detail and compared with that of foreign countries. Details are given on the development of production capacities and the various means of production together with their respective shares of total production. Further tables and diagrams provide information on power production in various geographical regions and on the management of pumped storage hydro-electricity schemes. A further chapter deals in detail with the consumption of electricity, its growth between 1984 and 2003 and its use in various sectors. A fifth chapter examines electricity consumption, generation, import and export on single, typical days, presenting data in tables and diagrams. The next chapter examines energy transfer with foreign countries and the trading structures involved. The next two chapters cover the future developments in energy exchange and trading with foreign countries and the possibilities of augmenting power generation capacities up to 2010. The final chapter looks at economic considerations involved in the supply of electricity. An annex provides detailed tables of data

Swiss electricity statistics 2002

International Nuclear Information System (INIS)

2003-01-01

This publication by the Swiss Federal Office of Energy (SFOE) for the Swiss Federal Office of Energy (SFOE) provides statistical information on electricity supply, production, trading and consumption in Switzerland in 2002. Apart from a general overview of the Swiss electricity supply that includes details on power generation, energy transfer with neighbouring countries and data on prices, average consumption and capital investment, the publication also includes graphical representations of electrical energy flows in and out of Switzerland. Tables of data give information on electricity production, import and export for the years 1950 to 2002, the data being supplied for each hydrological year and the summer and winter seasons respectively. The structure of power production in Switzerland is examined in detail and compared with that of foreign countries. Details are given on the development of production capacities and the various means of production together with their respective shares of total production. Further tables and diagrams provide information on power production in various geographical regions and on the management of pumped storage hydro-electricity schemes. A further chapter deals in detail with the consumption of electricity, its growth between 1984 and 2002 and its use in various sectors. A fifth chapter examines electricity consumption, generation, import and export on single, typical days, presenting data in tables and diagrams. The next chapter examines energy transfer with foreign countries and the trading structures involved. The next two chapters cover the future developments in energy exchange and trading with foreign countries and the possibilities of augmenting power generation capacities up to 2009. The final chapter looks at economic considerations involved in the supply of electricity. An annex provides detailed tables of data

Swiss electricity statistics 2004

International Nuclear Information System (INIS)

2005-01-01

This publication by the Swiss Federal Office of Energy (SFOE) for the Swiss Federal Office of Energy (SFOE) provides statistical information on electricity supply, production, trading and consumption in Switzerland in 2004. Apart from a general overview of the Swiss electricity supply that includes details on power generation, energy transfer with neighbouring countries and data on prices, average consumption and capital investment, the publication also includes graphical representations of electrical energy flows in and out of Switzerland. Tables of data give information on electricity production, import and export for the years 1950 to 2004, the data being supplied for each hydrological year and the summer and winter seasons respectively. The structure of power production in Switzerland is examined in detail and compared with that of foreign countries. Details are given on the development of production capacities and the various means of production together with their respective shares of total production. Further tables and diagrams provide information on power production in various geographical regions and on the management of pumped storage hydro-electricity schemes. A further chapter deals in detail with the consumption of electricity, its growth between 1984 and 2004 and its use in various sectors. A fifth chapter examines electricity consumption, generation, import and export on single, typical days, presenting data in tables and diagrams. The next chapter examines energy transfer with foreign countries and the trading structures involved. The next two chapters cover the future developments in energy exchange and trading with foreign countries and the possibilities of augmenting power generation capacities up to 2010. The final chapter looks at economic considerations involved in the supply of electricity. An annex provides detailed tables of data

Swiss electricity statistics 2002

International Nuclear Information System (INIS)

Swiss Federal Office of Energy, Berne

2003-01-01

This publication by the Swiss Federal Office of Energy (SFOE) provides statistical information on electricity supply, production, trading and consumption in Switzerland in 2002. Apart from a general overview of the Swiss electricity supply that includes details on power generation, energy transfer with neighbouring countries and data on prices, average consumption and capital investment, the article also includes graphical representations of electrical energy flows in and out of Switzerland. Tables of data give information on electricity production, import and export for the years 1950 to 2002, the data being supplied for each hydrological year and the summer and winter seasons respectively. The structure of power production in Switzerland is examined in detail and compared with that of foreign countries. Details are given on the development of production capacities and the various means of production together with their respective shares of total production. Further tables and diagrams provide information on power production in various geographical regions and on the management of pumped storage hydro-electricity schemes. A further chapter deals in detail with the consumption of electricity, its growth between 1984 and 2002 and its use in various sectors. A fifth chapter examines electricity consumption, generation, import and export on single, typical days, presenting data in tables and diagrams. The next chapter examines energy transfer with foreign countries and the trading structures involved. The next two chapters cover the future developments in energy exchange and trading with foreign countries and the possibilities of augmenting power generation capacities up to 2009. The final chapter looks at economic considerations involved in the supply of electricity. An annex provides detailed tables of data

Swiss electricity statistics 2004

International Nuclear Information System (INIS)

2005-01-01

This publication by the Swiss Federal Office of Energy (SFOE) provides statistical information on electricity supply, production, trading and consumption in Switzerland in 2004. Apart from a general overview of the Swiss electricity supply that includes details on power generation, energy transfer with neighbouring countries and data on prices, average consumption and capital investment, the article also includes graphical representations of electrical energy flows in and out of Switzerland. Tables of data give information on electricity production, import and export for the years 1950 to 2004, the data being supplied for each hydrological year and the summer and winter seasons respectively. The structure of power production in Switzerland is examined in detail and compared with that of foreign countries. Details are given on the development of production capacities and the various means of production together with their respective shares of total production. Further tables and diagrams provide information on power production in various geographical regions and on the management of pumped storage hydro-electricity schemes. A further chapter deals in detail with the consumption of electricity, its growth between 1984 and 2004 and its use in various sectors. A fifth chapter examines electricity consumption, generation, import and export on single, typical days, presenting data in tables and diagrams. The next chapter examines energy transfer with foreign countries and the trading structures involved. The next two chapters cover the future developments in energy exchange and trading with foreign countries and the possibilities of augmenting power generation capacities up to 2010. The final chapter looks at economic considerations involved in the supply of electricity. An annex provides detailed tables of data

Electric Power Regulation in Mexico

Energy Technology Data Exchange (ETDEWEB)

Landa, J V [Universidad Nacional Autonoma de Mexico, Mexico City (Mexico)

1994-12-31

The history of the electrical power sector in Mexico, the prominent role that government plays in the generation, transformation, distribution and supply of electrical power, and the implications of the North American Free Trade Agreement (NAFTA) for this sector were summarized. The slow pace of the Mexican electricity sector in achieving cost efficiency through pricing policy was criticized, and the issue of regulation versus deregulation of the electricity sector was examined in the context of NAFTA, emphasizing the contradiction between the idea of international trade and a highly regulated industry. Revisions of the original constitutional article to exclude electrical power generation from governmental control and to allow market mechanisms and competition to lower costs and increase efficiency was recommended.It was considered a pre-condition to a stable balance between competition and energy efficient environmentally friendly practices.

Estimating Trade Effects of the Competitive Devaluation Policy in East Asia’s Countries

Directory of Open Access Journals (Sweden)

Yana Valeryevna Dyomina

2013-03-01

Full Text Available The paper examines the competitive devaluation policy effects on the East Asia’s trade for the period of 2000–2011. The author obtained quantitative estimation of the currency policy trade effects with the help of panel data regression analysis (using export and import data of the following countries: China, Japan, Indonesia, Malaysia, Vietnam, Thailand, the Philippines and the Republic of Korea. The article includes investigation of the following foreign trade flows: total, intra-regional and out- of-regional exports and imports of merchandise. The study reflects the fact that the competitive devaluation policy of ASEAN+3 countries negatively affects the out-of-regional exports and imports, as well as the total imports. Simultaneously such exchange rate policy measures have no effect on intra-regional trade

Swedish industry and Kyoto - An assessment of the effects of the European CO2 emission trading system

International Nuclear Information System (INIS)

Braennlund, Runar; Lundgren, Tommy

2007-01-01

We assess the effects on Swedish industry input demands and output of different climate policy scenarios connected to energy policy induced by the Kyoto protocol. We use a unique dataset containing firm-level data on outputs and inputs between 1991 and 2001 to estimate a factor demand model, which we use to simulate different policy scenarios. Sector-specific estimation suggests that the proposed quadratic profit function specification exhibits properties and robustness that are consistent with economic theory; that is, all own-price elasticities are negative and all output elasticities are positive. Furthermore, the elasticities show that the input demands are, in most cases, relatively inelastic. Simulation of the model for six different policy scenarios reveal that effects on the Swedish base industry of a EU-level permit-trading system depends on (i) the removal or maintenance of the current CO 2 tax, (ii) the price of permits, and (iii) the future price of electricity. Our analysis shows that changes in electricity price may be more important than the price of permits for some sectors. (author)

Electricity information 1994

International Nuclear Information System (INIS)

1995-01-01

Basic statistics on the electricity and heat production in OECD countries are compiled by the International Energy Agency. The statistics cover annual OECD data for prices, production, consumption and trade. Detailed electricity and heat statistics are also presented for each OECD countries. (O.L.). 34 figs., 36 tabs

Emissions Trading - Growing Markets with Impacts on Energy and Biofuel Business

International Nuclear Information System (INIS)

Otterstroem, Tomas

2006-01-01

The markets for environmental derivatives are relatively new, e.g. in June 2006, the EU ETS has been operational for eighteen months and the Swedish electricity-certificate scheme has been operating for about three years. There is a clear trend towards an increasingly CO 2 -constrained economy, in which trading schemes are implemented with the purpose of reducing the overall cost of reaching the targets set. The business impacts of emissions trading are significant for many actors, both in terms of direct financial effects (e.g. need to buy or sell allowances) as indirect ones (e.g. changes in the competitiveness of fuels, the price of electricity and the demand for low-emission technologies). During 2005, almost 800 million tons of CO 2 equivalents have changed owner on the carbon markets. The market and variety of products are increasing and the market volume is expected to exceed 10 billion euros in 2006

Reference-dependent electric vehicle production strategy considering subsidies and consumer trade-offs

International Nuclear Information System (INIS)

Zhang, Xiang

2014-01-01

In this paper, we extend previous reference-dependence newsvendor research by incorporating both consumer trade-offs and government subsidies to evaluate the relevant influences on the optimal electric vehicle (EV) production decisions. We present the properties of the model, derive the closed-form solutions for the model given the relevant constraints, and use numerical experiments to illustrate the results. We find that subsidies, loss aversion, the performance of both EVs and internal combustion engine-powered vehicles (ICEVs), and the coefficient of variation of demand are significant factors influencing the optimal production quantity and the expected utilities of EV production. The high selling price and other high costs of ICEVs help offset the influence of loss aversion, whereas the high costs of EV enhance loss aversion. Our study enriches the literature on subsidies for EVs by establishing a behavioral model to incorporate the decision bias in terms of loss aversion at the firm level. These findings provide guiding principles for both policymakers and EV managers for making better strategies to promote EVs in the early immature market. - Highlights: • The performance of both electric vehicles (EVs) and internal combustion engine-power vehicles (ICEVs) influences the EV production decisions. • A loss averse EV manager produces less and obtains less the expected utility than a risk neutral one. • Subsidies help decrease the EV breakeven quantity, increase the optimal quantity, offset the influence of loss aversion. • Subsidies should be adjusted according to the performance of both EVs and the ICEVs, demand heterogeneity, and local conditions. • The high ICEVs costs help offset the influence of loss aversion, whereas the high EV costs enhance loss aversion

Evaluating the effect of domestic support on international trade

DEFF Research Database (Denmark)

Urban, Kirsten; Brockmeier, Martina; Jensen, Hans Grinsted

We use the Mercantilist Trade Restrictiveness Index (MTRI) to develop an extended index that measures the overall trade effects of domestic support payments in a general equilibrium framework environment. Our index is capable of analyzing the development of the trade restrictiveness of domestic...... support payments over time and across countries and of comparing these payments with other protection instruments. Furthermore, our index helps evaluate agricultural policy reforms that introduce changes into the composition of domestic support payments. We conduct this analysis with an extended version...... of the GTAP model and database using the EU as an example. Thus, we incorporate detailed EU domestic support payments taken from the OECD Producer Support Estimate (PSE) tables in the GTAP framework and reconcile PSE data with the WTO classification scheme. Although our index slightly increases from 2004...

Trading Agents

CERN Document Server

Wellman, Michael

2011-01-01

Automated trading in electronic markets is one of the most common and consequential applications of autonomous software agents. Design of effective trading strategies requires thorough understanding of how market mechanisms operate, and appreciation of strategic issues that commonly manifest in trading scenarios. Drawing on research in auction theory and artificial intelligence, this book presents core principles of strategic reasoning that apply to market situations. The author illustrates trading strategy choices through examples of concrete market environments, such as eBay, as well as abst

An investigation into the development of consolidation of distributed generation within the wholesale electricity trading arrangements

Energy Technology Data Exchange (ETDEWEB)

NONE

2005-07-01

In this report the problems faced by distributed generators is explored under the New Electricity Trading Arrangements (NETA) in relation to the low price received for generation above contract requirement and the high price charged for under generation, and the lack of an alternative to the bilateral contract. The background to the study is traced, and the economics and history of consolidation, the NETA environment, development of imbalance prices, and the market for consolidation are outlined. An overview of consolidation in practice is presented, covering the generators and suppliers views, and specialist consolidators. The main options for development, and consolidation models are considered as well as net benefits, regulatory and commercial impediments to consolidation, and the potential impact of BETA.

An investigation into the development of consolidation of distributed generation within the wholesale electricity trading arrangements

International Nuclear Information System (INIS)

2005-01-01

In this report the problems faced by distributed generators is explored under the New Electricity Trading Arrangements (NETA) in relation to the low price received for generation above contract requirement and the high price charged for under generation, and the lack of an alternative to the bilateral contract. The background to the study is traced, and the economics and history of consolidation, the NETA environment, development of imbalance prices, and the market for consolidation are outlined. An overview of consolidation in practice is presented, covering the generators and suppliers views, and specialist consolidators. The main options for development, and consolidation models are considered as well as net benefits, regulatory and commercial impediments to consolidation, and the potential impact of BETA

Green certificates: a new currency for trading the environmental benefits of renewable energy

International Nuclear Information System (INIS)

Crookall-Fallon, C.; Crozier-Cole, T.

2000-01-01

This article examines the driving force of the Kyoto Protocol on the EU's proposed Directive to stimulate the use of renewable energy sources for generating electricity, and the forthcoming sixth conference of the Parties to the UN National Framework Convention on Climatic Change where it is hoped that the EU will ratify the 1997 Kyoto Protocol requiring the reduction in emissions of greenhouse gases. Details of the EU's Directive on the liberalisation of the internal market for electricity and targets for increasing renewable energy electricity consumption are given. Trading environmental benefits of renewable generation, the concept of trading green certificates, the challenges to creating a green certificate market, national green certificate systems such as the Dutch and Danish systems, and the progress towards Europe-wide green certificate trading are discussed

Tariffs on power trading

International Nuclear Information System (INIS)

Van de Water, C.J.

1995-01-01

For optimal use of power systems, transmission services must be independent from production. Moreover the costs of electrical energy transmission should be well known and be paid according to a tariff system approximating to the real network costs. These two conditions for power trading will lead to an optimal power system. In a competitive power production market, the transmission and distribution companies will remain monopolistic because they are the only facilitators of power trading. The pricing signals of the transmission and distribution costs determine the playing field for the competitors. These are production offers and bidders. The transmission pricing must for that reason be simple, correct and based on marginal costs to make optimal use of the system

Scenario-based potential effects of carbon trading in China: An integrated approach

International Nuclear Information System (INIS)

Zhang, Cheng; Wang, Qunwei; Shi, Dan; Li, Pengfei; Cai, Wanhuan

2016-01-01

Highlights: • Carbon dioxide shadow price shows a negative asymmetrical correlation with carbon dioxide emissions in China. • The implements of carbon trading can bring Porter Hypothesis effect significantly. • Provincial carbon trading can reduce carbon intensity by 19.79–25.24% in China. - Abstract: Using China’s provincial panel data and national panel data of OECD (Organization for Economic Co-operation and Development) and BRICS (Five major emerging national economies: Brazil, Russia, India, China and South Africa), this paper simulates the scenario-based potential effect of carbon trading in China. Analysis methods included Stochastic Frontier Analysis, Difference-in-differences Model, and Nonlinear Programming Technique. Results indicated that in a theory-based view of carbon trading, the shadow price of carbon dioxide generally rises, with a non-linear negative correlation with carbon dioxide emissions. In different regions, the shadow price of carbon dioxide presents a digressive tendency among eastern, central, and western areas, with divergent gaps between and within areas. When the greatest goal is assumed to reduce national carbon intensity as much as possible at the given national GDP (Gross Domestic Product) (Scenario I), carbon trading has the effect of reducing carbon intensity by 19.79%, with the consideration of Porter Hypothesis effect. If the rigid constraint of national GDP is relaxed, and the dual constraint of both economic growth and environment protection in each region is introduced (Scenario II), the resulting effect is a reduced carbon intensity of 25.24%. China’s general carbon intensity in 2012 was higher than goals set at the Copenhagen Conference, but lagged behind the goal of Twelfth Five-Year Plan for National Economy. This study provides realistic and significant technical support for the government to use in designing and deploying a national carbon trading market.

Currency Policy Coordination оf Asean Countries: Foreign Trade Effects

Directory of Open Access Journals (Sweden)

Yana Valeryevna Dyomina

2015-12-01

Full Text Available The study estimates foreign trade effects of currency policy measures in ASEAN countries. On the base of exchange rate dynamics the author concludes that during the period of 2000-2014 ASEAN countries in general used competitive devaluation policy of national currencies to CNY, JPY, KRW and EUR and revaluation to USD. To eliminate negative effects of competitive devaluation policy the paper proposes currency policy coordination of ASEAN countries that could be done by pegging of national currencies to a common basket. Employing the SAC (Stable Aggregate Currency method the author suggests 4 options for a common currency basket. The researcher estimates foreign trade effects of currency policy coordination in ASEAN countries for every option of a currency basket in three following cases: ASEAN as a whole, ASEAN-6 and ASEAN-4. The author concludes that the optimal form of currency policy coordination in ASEAN is pegging of exchange rates of national currencies to a common basket composed of 13 East Asian currencies. This currency basket option has maximum foreign trade effects for the Association as a whole and by sub-groups of ASEAN-6 and ASEAN-4 when it devaluates to the U.S. dollar

75 FR 24969 - China's Agricultural Trade: Competitive Conditions and Effects on U.S. Exports

Science.gov (United States)

2010-05-06

... support and government programs related to agricultural markets, foreign direct investment policies, and... INTERNATIONAL TRADE COMMISSION [Investigation No. 332-518] China's Agricultural Trade: Competitive... investigation No. 332-518, China's Agricultural Trade: Competitive Conditions and Effects on U.S. Exports. DATES...

On the effectiveness of the anti-gaming policy between the day-ahead and real-time electricity markets in The Netherlands

Energy Technology Data Exchange (ETDEWEB)

Boogert, A. [Essent Energy Trading (Netherlands); Dupont, D. [University of Twente (Netherlands). School of Business, Public Administration and Technology

2005-09-01

In the paper, we study the linkage between two related markets for electricity in The Netherlands: the day-ahead market and the real-time market. The Dutch regulator wants to prevent trading across these two markets and has set up a dual pricing system for this purpose. In this paper, we test the effectiveness of this policy by studying the ex post profitability of trading strategies spanning the two markets over various time segments. Our results show that profits generated by these strategies are rarely positive on average and always characterized by very large potential losses, which dwarf the mean profit when the latter is positive. (author)

On the effectiveness of the anti-gaming policy between the day-ahead and real-time electricity markets in The Netherlands

International Nuclear Information System (INIS)

Boogert, A.; Dupont, D.

2005-01-01

In the paper, we study the linkage between two related markets for electricity in The Netherlands: the day-ahead market and the real-time market. The Dutch regulator wants to prevent trading across these two markets and has set up a dual pricing system for this purpose. In this paper, we test the effectiveness of this policy by studying the ex post profitability of trading strategies spanning the two markets over various time segments. Our results show that profits generated by these strategies are rarely positive on average and always characterized by very large potential losses, which dwarf the mean profit when the latter is positive. (author)

China and India: Openness, Trade and Effects on Economic Growth

Directory of Open Access Journals (Sweden)

Marelli, Enrico

2011-06-01

Full Text Available The purpose of this paper is to analyse the economic growth of China and India in terms of their integration in the global economy. We begin with a discussion of some stylized facts concerning their recent economic growth, the most significant institutional reforms, with particular reference to trade relations, and their impact on their economic development. We then propose a descriptive analysis of economic growth, opening up of the economies and trade specialisation, by comparing the features and trends of the two countries (by considering trade and foreign direct investment data. We have also estimated some econometric relations between economic growth and trade/openness, with the addition of control variables (such as the gross fixed capital formation. We initially used a panel data model for the two countries, to be estimated with fixed effects; to test for reverse causality, we re-estimated the fixed effects model by 2SLS (with the inclusion of specific instrumental variables. The effect on economic growth (in terms of GDP per capita of our variables of interest - Openness and FDI - remains positive and statistically significant in all specifications, which confirms our findings even if we treat these variables as endogenous variables. The results prove the positive growth effects, for the two countries, of opening up and integrating in the world economy. Note that the robust growth of these two "giants" has contained the initial impact of the recent global crisis and is now sustaining the recovery of the entire world economy. Other policy relevant implications are discussed in the concluding section.

The view from the trading floor

International Nuclear Information System (INIS)

Schafer, B.

1998-01-01

Having re-invented the gas business, Enron would now like to do the same with electricity. Plenty of companies that pump gas through pipes or electrons down wires think they are in a commodity business. Enron is following this logic to its conclusion. Commodities can be traded, and a battery of tools do just that. The firm is now devoting as much effort to developing risk management as it does to pipelines and power. Two examples are given of coal producers to illustrate the economics of energy commodity trades

Examining the resilience of national energy systems: Measurements of diversity in production-based and consumption-based electricity in the globalization of trade networks

International Nuclear Information System (INIS)

Kharrazi, Ali; Sato, Masahiro; Yarime, Masaru; Nakayama, Hirofumi; Yu, Yadong; Kraines, Steven

2015-01-01

Energy is a critical component of achieving sustainable development. In addition to the three aspects of promoting access, renewables, and efficiency, the dimension of resilience in energy systems should also considered. The implementation of resilient energy systems requires a quantitative understanding of the socio-economic practices underlying such systems. Specifically, in line with the increasing globalization of trade, there remains a critical knowledge gap on the link between embodied energy in the production and consumption of traded goods. To bridge this knowledge gap, we investigate the resilience of global energy systems through an examination of a diversity measure of global embodied electricity trade based on multi-regional input-output (MRIO) networks. The significance of this research lies in its ability to utilize high resolution MRIO data sets in assessing the resilience of national energy systems. This research indicates that secure and responsible consumption requires the diversification of not only energy generation but also energy imports. This research will lay the ground for further research in the governance of resilience in global energy networks. - Highlights: • We examine the resilience of global embodied energy based on (MRIO) trade networks. • We propose a secure and responsible mode of thinking for national energy consumption. • Secure & responsible consumption requires diversity in energy generation and imports.

Progress with the Scottish Trading Arrangements Group (STAG)

International Nuclear Information System (INIS)

Fellows, A.

1998-01-01

Since November 1996 STAG has operated as a forum to allow traders in the Scottish market to consider trading arrangements which will facilitate competition while coping with foreseeable trading requirements beyond the 1998 franchise break. The author has promoted the interest of renewables generators on behalf of the Scottish Renewables Forum throughout this process. An Interim Report summarising the high level options considered was submitted to OFFER in June 1997. This paper summarises the interim report content and draws on other aspects of the Scottish market to review the future prospects in Scotland for trading electricity form wind energy schemes. (Author)

Contribution of green labels in electricity retail markets to fostering renewable energy

International Nuclear Information System (INIS)

Mulder, Machiel; Zomer, Sigourney P.E.

2016-01-01

In European countries, retailers are obliged to disclose the energy source and the related environmental impacts of their portfolio over the preceding year. The electricity supplied in the Dutch retail market is presented as renewable energy for 34%, but this relatively high share is for 69% based on certificates (Guarantees of Origin) which are imported from in particular Norway. The certificates are used to sell green electricity to consumers. The premium for green electricity which is actually paid by Dutch consumers is no more than a few percentages of the retail price. The low level of this premium is related to the abundant supply of certificates at low marginal costs from Norway. This also means that the premium for green electricity is too low to give an incentive for investments in new capacity. Hence, the current labelling system for renewable electricity is mainly valuable, besides being an instrument for tracking and tracing of renewable energy, as a marketing instrument for electricity retailers. The effectiveness of Guarantees of Origin as a policy instrument to foster renewable electricity sources is weak. This effectiveness can be raised by implementing restrictions on the international trade or the issuance of new certificates. - Highlights: • In Europe, electricity retailers are obliged to disclose the energy source. • In the Netherlands, most renewable energy is based on imported certificates. • The certificates system does not result in more renewable energy. • Restrictions on international trade may improve the effectiveness.

Canadian electricity exports and imports : an energy market assessment

International Nuclear Information System (INIS)

2003-01-01

This energy market assessment (EMA) report focuses on recent trends in exports and imports of Canadian electricity and the associated revenue and pricing. It also outlines major developments in electricity markets in Canada and the United States in the past decade with reference to the implications of electricity trade for both consumers and the power industry. This guide comes at a time of market openings in Alberta and Ontario, and with recent increases in applications to the National Energy Board for electricity exports and international power lines. The first chapter presents an overview of current Canadian federal regulatory regime for electricity exports and restructuring of the electric power industry in Canada and the United States. The second chapter reviews electricity exports and imports from a national perspective. Provincial analyses were presented in the third chapter which also covered international interconnections, export and import trends, export and import pricing, implications for consumer prices, and factors affecting future trade. The final chapter presents some observations on each of these issues. It is noted that exports have fluctuated significantly from year to year due to specific events including the shutdown of nuclear power plants, high gas prices, and the California electricity crisis in 2000-2001. Canadian international electricity trade has continued to yield net revenues of $1 to $2 billion per year due to strong electricity export prices. The relationship between export and import prices varies from province to province. Canadian utilities have emphasized the need for more transmission to the U.S. to foster future trade and improve transmission reliability. refs., tabs., figs

The impact of power market structure on the pass-through of CO2 emissions trading costs to electricity prices. A theoretical approach

International Nuclear Information System (INIS)

Sijm, J.; Chen, Yihsu; Hobbs, B.F.

2009-06-01

This paper analyses the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading costs on electricity prices from a theoretical point of view, including graphical illustrations and mathematical proofs. Market structure refers in particular to the number of firms active in the market as well as to the shape of the power demand and supply curves. In addition, it analyses the impact of other power market related factors on the PTR of carbon costs to electricity prices, notably the impact of ET-induced changes in the merit order of power generation technologies or the impact of pursuing other market strategies besides maximising generators' profits, such as maximising market shares or sales revenues of power companies. It shows that each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices

The impact of power market structure on the pass-through of CO2 emissions trading costs to electricity prices. A theoretical approach

Energy Technology Data Exchange (ETDEWEB)

Sijm, J. [ECN Policy Studies, Petten (Netherlands); Chen, Yihsu [Merced School of Engineering, University of California, Merced, CA (United States); Hobbs, B.F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, Maryland (United States)

2009-06-15

This paper analyses the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading costs on electricity prices from a theoretical point of view, including graphical illustrations and mathematical proofs. Market structure refers in particular to the number of firms active in the market as well as to the shape of the power demand and supply curves. In addition, it analyses the impact of other power market related factors on the PTR of carbon costs to electricity prices, notably the impact of ET-induced changes in the merit order of power generation technologies or the impact of pursuing other market strategies besides maximising generators' profits, such as maximising market shares or sales revenues of power companies. It shows that each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices.

Endogenous Quality Effects of Trade Policy

NARCIS (Netherlands)

J.L. Moraga-Gonzalez (José Luis); J.M.A. Viaene (Jean-Marie)

1999-01-01

textabstractWe study the optimal trade policy against a foreign oligopoly with endogenous quality. We show that, under the Most Favoured Nation (MFN) clause, a uniform tariff policy is always welfare improving over the free trade equilibrium. However, a nonuniform tariff policy is always desirable

Supply Chain Coordination under Trade Credit and Quantity Discount with Sales Effort Effects

Directory of Open Access Journals (Sweden)

Zhihong Wang

2018-01-01

Full Text Available The purpose of this paper is to investigate the role of trade credit and quantity discount in supply chain coordination when the sales effort effect on market demand is considered. In this paper, we consider a two-echelon supply chain consisting of a single retailer ordering a single product from a single manufacturer. Market demand is stochastic and is influenced by retailer sales effort. We formulate an analytical model based on a single trade credit and find that the single trade credit cannot achieve the perfect coordination of the supply chain. Then, we develop a hybrid quantitative analytical model for supply chain coordination by coherently integrating incentives of trade credit and quantity discount with sales effort effects. The results demonstrate that, providing that the discount rate satisfies certain conditions, the proposed hybrid model combining trade credit and quantity discount will be able to effectively coordinate the supply chain by motivating retailers to exert their sales effort and increase product order quantity. Furthermore, the hybrid quantitative analytical model can provide great flexibility in coordinating the supply chain to achieve an optimal situation through the adjustment of relevant parameters to resolve conflict of interests from different supply chain members. Numerical examples are provided to demonstrate the effectiveness of the hybrid model.

Unified electricity market

International Nuclear Information System (INIS)

Anon

2011-01-01

A unified European electricity market means a unification and harmonisation of functioning of the national electricity market into one European Market or into one entity. It gives an opportunity to Slovenske elektrarne to open room for their wider activity within Europe where common rules for cross-boarder trade and markets functioning will apply. (author)

Preparing for the emissions trading game

International Nuclear Information System (INIS)

Anon.

2001-01-01

Although the deadline (1 April 2001) for the introduction of the climate change levy (or UK greenhouse gas emissions trading scheme) is near, it is difficult to assess the likely impact of the legislation since some of the architecture and much of the detail have yet to be revealed. Meanwhile, there is a growing fear that emissions trading may work against the sectoral energy efficiency agreements and the risks and costs for individual companies are not clear. The views of the CBI are discussed in detail; it is apparently concerned that the DETR's proposals are incomplete in a number of respects and these are discussed. The subjects of grandfathering, outsourcing, electricity generation and plant closures receive special attention. Other aspects discussed are legal issues, sanctions and liability, trading and risks. Tim Denne of Oxera doubts that the UK scheme will achieve the hoped for level of trading. The scheme is likely to be a subject of boardroom debate for several years to come

Carbon Trading in the Policy mix

International Nuclear Information System (INIS)

Sijm, J.P.M.; Sorrell, S.

2003-12-01

The Kyoto Protocol is stimulating the development of emissions-trading schemes at the national and international levels. These are being introduced alongside existing policy instruments such as carbon taxes and negotiated agreements, leading to complex problems of policy interaction. But the topic of policy interaction remains under-researched. This paper aims to improve understanding of such interactions by examining the conditions under which a cap-and-trade scheme for carbon-dioxide emissions may usefully coexist with carbon/energy taxes, support mechanisms for renewable electricity, and policies to promote energy efficiency. The paper argues that each of these instrument combinations may be acceptable, provided they contribute to either improving the static or dynamic efficiency of the trading scheme, or delivering other valued policy objectives. But, since the coexisting instruments may raise overall abatement costs while contributing nothing further to emission reductions, the objectives and trade-offs within the policy mix must be explicit

The 2018 Power Trading Agent Competition

NARCIS (Netherlands)

W. Ketter (Wolfgang); J. Collins (John); M.M. de Weerdt (Mathijs)

2017-01-01

markdownabstractThis is the specification for the Power Trading Agent Competition for 2018 (Power TAC 2018). Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through

The 2013 Power Trading Agent Competition

NARCIS (Netherlands)

W. Ketter (Wolfgang); J. Collins (John); P. Reddy (Prashant); M.M. de Weerdt (Mathijs)

2013-01-01

textabstractThis is the specification for the Power Trading Agent Competition for 2013 (Power TAC 2013). Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through tariff

The 2016 Power Trading Agent Competition

NARCIS (Netherlands)

W. Ketter (Wolfgang); J. Collins (John); M.M. de Weerdt (Mathijs)

2016-01-01

markdownabstractThis is the specification for the Power Trading Agent Competition for 2016 (Power TAC 2016). Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through

The 2017 Power Trading Agent Competition

NARCIS (Netherlands)

W. Ketter (Wolfgang); J. Collins (John); M.M. de Weerdt (Mathijs)

2017-01-01

markdownabstractThis is the specification for the Power Trading Agent Competition for 2017 (Power TAC 2017). Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through

The 2012 Power Trading Agent Competition

NARCIS (Netherlands)

W. Ketter (Wolfgang); J. Collins (John); P. Reddy (Prashant); M.M. de Weerdt (Mathijs)

2012-01-01

textabstractThis is the specification for the Power Trading Agent Competition for 2012 (Power TAC 2012). Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through tariff

The 2015 Power Trading Agent Competition

NARCIS (Netherlands)

W. Ketter (Wolfgang); J. Collins (John); P. Reddy (Prashant); M.M. de Weerdt (Mathijs)

2015-01-01

markdownabstractThis is the specification for the Power Trading Agent Competition for 2015 (Power TAC 2015). Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through

The 2014 Power Trading Agent Competition

NARCIS (Netherlands)

W. Ketter (Wolfgang); J. Collins (John); P. Reddy (Prashant); M.M. de Weerdt (Mathijs)

2014-01-01

textabstractThis is the specification for the Power Trading Agent Competition for 2014 (Power TAC 2014). Power TAC is a competitive simulation that models a “liberalized” retail electrical energy market, where competing business entities or “brokers” offer energy services to customers through tariff

Swedish Industry and Kyoto. An Assessment of the Effects of the European CO2 Emission Permit Trading System

International Nuclear Information System (INIS)

Braennlund, Runar; Lundgren, Tommy

2005-01-01

We assess the effects on Swedish industry input and output demands of different climate policy scenarios connected to energy policy induced by the Kyoto protocol. A unique data set containing firm level data on outputs and inputs during the years 1991-2001 is used to estimate a factor demand model, which is then simulated for different policy scenarios. Sector specific estimation suggests that the proposed quadratic profit function specification exhibit properties and robustness that are consistent with economic theory; that is, all own-price elasticities are negative and all output elasticities are positive. Furthermore, the elasticities show that the input demands are, in most cases, relatively inelastic. Simulation of the model for 6 different policy scenarios reveal that the effects on Swedish base industry of a EU level permit trade system is dependent on (i) removal or no removal of current CO 2 tax, (ii) the established price of permits, and (iii) what will happen to the electricity price. Our analysis show that changes in electricity price may be more important than the price of permits for some sectors

Electricity Information 2013 with 2012 data

Energy Technology Data Exchange (ETDEWEB)

NONE

2013-08-01

Electricity Information provides a comprehensive review of historical and current market trends in the OECD electricity sector, including 2012 preliminary data. An Introduction, notes, definitions and auxiliary information are provided in Part I. Part II of the publication provides an overview of the world electricity developments in 2011, covering world electricity and heat production, input fuel mix, supply and consumption, and electricity imports and exports. A greater focus is given to the 34 OECD countries with more detailed information covering production, installed capacity, input energy mix to electricity and heat production, consumption, electricity trades, input fuel prices and end-user electricity prices. Part III of the publication provides a corresponding statistical overview of developments in the world and OECD electricity and heat market for 2011, as well as monthly OECD production and trade electricity data for 2012. Part IV provides, in tabular form, detailed and comprehensive statistical coverage of the power and heat industry developments for each of the OECD member countries and for OECD and IEA regional aggregates. It provides comprehensive statistical details on overall energy consumption, economic indicators, electricity and heat production by energy form and plant type, electricity imports and exports, sectoral energy and electricity consumption as well as prices for electricity and electricity input fuels for each country and regional aggregate.

World Trade Organisation (WTO): Trade rules/agreements and ...

African Journals Online (AJOL)

The GATT (General Agreement on Trade and Tariffs) rules of 1947 were seen as prejudicial to the economic and development concerns of developing countries. With the coming into effect of World Trade Organization (WTO), it was expected that some of the concerns of the developing countries will be addressed.

ASEAN - China Free Trade Area : A quantitative study of Trade diversion and Trade creation effects on ASEAN - China trade flows

OpenAIRE

Duong Xuan, Vinh

2011-01-01

The Association of South-East Asian Nations (ASEAN) and China have a long history of trading with each other. They are economic partners as well as competitors for many years. In order to push their economic relationship to a higher level, in November 2002, ASEAN and China signed the initial framework agreement, determined on establishing the ASEAN - China Free Trade Area (ACFTA) among the eleven countries by 2010 for the ASEAN-6 (Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand)...

Permit trading and credit trading

DEFF Research Database (Denmark)

Boom, Jan-Tjeerd; R. Dijstra, Bouwe

This paper compares emissions trading based on a cap on total emissions (permit trading) and on relative standards per unit of output (credit trading). Two types of market structure are considered: perfect competition and Cournot oligopoly. We find that output, abatement costs and the number...... of firms are higher under credit trading. Allowing trade between permit-trading and credit-trading sectors may increase in welfare. With perfect competition, permit trading always leads to higher welfare than credit trading. With imperfect competition, credit trading may outperform permit trading....... Environmental policy can lead to exit, but also to entry of firms. Entry and exit have a profound impact on the performance of the schemes, especially under imperfect competition. We find that it may be impossible to implement certain levels of total industry emissions. Under credit trading several levels...

Insider trading under trading ban regulation in China’s A-share market

Directory of Open Access Journals (Sweden)

Chafen Zhu

2015-09-01

Full Text Available This study examines the effects of China’s 2008 trading ban regulation on the insider trading of large shareholders in China’s A-share market. It finds no evidence of insider trading during the ban period (one month before the announcement of a financial report, due to high regulation risk. However, the ban only constrains the profitability of insider trades during the ban period, while trades outside it remain highly profitable. Informed insider trading before the ban period is 2.83 times more profitable than uninformed trading. The regulation has changed insider trading patterns, but has been ineffective in preventing insider trading by large shareholders due to rigid administrative supervision and a lack of civil litigation and flexible market monitoring. This study enhances understanding of large shareholders’ trading behavior and has important implications for regulators.

Emissions Trading

NARCIS (Netherlands)

Woerdman, Edwin; Backhaus, Juergen

2014-01-01

Emissions trading is a market-based instrument to achieve environmental targets in a cost-effective way by allowing legal entities to buy and sell emission rights. The current international dissemination and intended linking of emissions trading schemes underlines the growing relevance of this

40 CFR 60.4120 - General Hg budget trading program permit requirements.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 6 2010-07-01 2010-07-01 false General Hg budget trading program... and Compliance Times for Coal-Fired Electric Steam Generating Units Permits § 60.4120 General Hg budget trading program permit requirements. (a) For each Hg Budget source required to have a title V...

GENETICALLY MODIFIED CROPS: INTERNATIONAL TRADE AND TRADE POLICY EFFECTS

Directory of Open Access Journals (Sweden)

George Frisvold

2015-04-01

Full Text Available Where approved, producers have adopted genetically modified (GM crops extensively. Yet, areas not adopting GM crops account for large shares of production and consumption. GM crops differ from previous agricultural innovations because consumers may perceive them as fundamentally different from (and potentially inferior to conventionally grown crops. Many countries maintain restrictions on production and importation of GM crops. GM crop adoption affects producers and consumers, not only through technological change, but also through trade policy responses. This article reviews open economy analyses of impacts of GM crops. To varying degrees, commodities are segmented into GM, conventionally grown, and organic product markets. Recent advances in trade modeling consider the consequences of market segmentation, along with consequences of GM crop import restrictions, product segregation requirements, and coexistence policies.

Effects Of Trade Liberalisation Policy On Nigerian Agricultural Exports

African Journals Online (AJOL)

This paper examines the effects of trade liberalization on Agricultural exports in Nigeria. It was observed that the policy had tremendous effects on the level and value of exports in agricultural sub-sector. A regression analysis relating the total value of agricultural produce and the aggregated domestic prices, and other ...

The Effect of Foreign Trade Policy Transparency on Integration of Ukraine in the World Economy

Directory of Open Access Journals (Sweden)

Yakovchenko Victoria S.

2018-02-01

Full Text Available The article is concerned with the interdependence between dynamics of the international trade and economic relations development and the existing level of foreign trade policy transparency in accordance with the provisions of the WTO Trade Facilitation Agreement. The effect of observance of transparency principle in foreign trade policy on forming the transaction costs in foreign trade is analyzed. A comparative analysis of the influence of import duties and transaction costs on the formation of Ukraine’s foreign trade barriers is carried out. Prospects of the national export-import activity development under increasing transparency of foreign trade policy of Ukraine and other world countries are determined.

Low-CO(2) electricity and hydrogen: a help or hindrance for electric and hydrogen vehicles?

Science.gov (United States)

Wallington, T J; Grahn, M; Anderson, J E; Mueller, S A; Williander, M I; Lindgren, K

2010-04-01

The title question was addressed using an energy model that accounts for projected global energy use in all sectors (transportation, heat, and power) of the global economy. Global CO(2) emissions were constrained to achieve stabilization at 400-550 ppm by 2100 at the lowest total system cost (equivalent to perfect CO(2) cap-and-trade regime). For future scenarios where vehicle technology costs were sufficiently competitive to advantage either hydrogen or electric vehicles, increased availability of low-cost, low-CO(2) electricity/hydrogen delayed (but did not prevent) the use of electric/hydrogen-powered vehicles in the model. This occurs when low-CO(2) electricity/hydrogen provides more cost-effective CO(2) mitigation opportunities in the heat and power energy sectors than in transportation. Connections between the sectors leading to this counterintuitive result need consideration in policy and technology planning.

Competition in the European electricity markets – outcomes of a Delphi study

International Nuclear Information System (INIS)

Makkonen, Mari; Pätäri, Satu; Jantunen, Ari; Viljainen, Satu

2012-01-01

Internal European electricity markets are a target set by the European Union (EU) and under development at present. This article presents the findings of a Delphi study focusing on the prospects of European electricity markets. The main aim is to report the obstacles that participants in the survey felt were the most critical ones affecting competition in the European electricity markets of the future. The respondents were European electricity market specialists, and the themes of the survey ranged from transmission networks and electricity trade to demand flexibility. One of the key findings was shared concern over the adequacy of transmission network capacity in Europe. It was considered that technical issues, such as existing transmission network bottlenecks, are most likely to form obstacles to creating common European electricity markets if new capacity is not built quickly enough. It was seen by the panellists that electricity trading arrangements, whilst important, are unlikely to form a barrier to the development of an internal electricity market. It was noted that electricity trading issues have recently been the subject of development work in the EU. - Highlights: ► The internal electricity market is a priority of the European Union. ► The Delphi method was used to study competition in the European electricity markets. ► The congested grid hampers the development of internal electricity markets in Europe. ► The significance of a transmission network will be emphasised in the future. ► Electricity trading arrangements are likely to be solved.

Relative Pricing of Publicly Traded U.S. Electric Utility Companies

Science.gov (United States)

Jewczyn, Nicholas Stephen

In the financial turmoil of 2008, U.S. firms reported debt-ratios that differed from the debt-ratios calculated from balance sheets. The problem is that investors bought common stock expecting initial investment return and lost money when companies delisted. The purpose of this quantitative study was to determine sample securities pricing with the application of synthetic assets and debt accrued. Addressed in the research questions was whether those securities were (a) underpriced compared with return-on-assets (ROA), (b) overpriced compared with ROA, (c) a debt-ratio higher than 60% and also overpriced, (d) underpriced with a synthetic asset added, or (e) related by relative pricing to variant pricing and market capitalization. The study's base theory was Pan's efficient market hypothesis (EMH) of security price prediction of market prices versus model prices. The data from the financial statements of 16 publicly traded U.S. electric utility companies were analyzed via correlations and multiple regression analyses to determine securities pricing and suitability. The findings from the analyses of the sample's variables of market price, book value, market-to-book, and study constructed variables from those variable data were statistically significant. The alternate hypotheses were accepted for all 5 research questions since the analytical operationalization of the hypothetical constructs led to significant relationships. Results suggest that the use of more pricing determinants in securities evaluation may lead to investors losing less money and earning the expected returns for a more efficient capital market, leading to a stronger economy and macroeconomic stability.

Electricity in Europe

International Nuclear Information System (INIS)

Holmes, A.

1985-01-01

European electricity consumption and demand is summarized in Chapter 1. The relationship between government and electricity producers is touched on. Five further chapters examine aspects of electricity in Europe. Chapter 2 discusses the electricity trade (import and export of electricity). The next looks at the current status of nuclear power in individual European countries. The environmental impact of generating electricity (eg acid rain, radioactive waste disposal) is assessed next and then the price of electricity in Europe is reviewed (with comparisons between the countries). Profiles of the situation in each country are presented in the last chapter. There are 72 tables presenting the facts and figures on which the text is based. (U.K.)

Reconfiguring trade mark law

DEFF Research Database (Denmark)

Elsmore, Matthew James

2013-01-01

-border setting, with a particular focus on small business and consumers. The article's overall message is to call for a rethink of received wisdom suggesting that trade marks are effective trade-enabling devices. The case is made for reassessing how we think about European trade mark law.......First, this article argues that trade mark law should be approached in a supplementary way, called reconfiguration. Second, the article investigates such a reconfiguration of trade mark law by exploring the interplay of trade marks and service transactions in the Single Market, in the cross...

Electrical power system integrated thermal/electrical system simulation

International Nuclear Information System (INIS)

Freeman, W.E.

1992-01-01

This paper adds thermal properties to previously developed electrical Saber templates and incorporates these templates into a functional Electrical Power Subsystem (EPS) simulation. These combined electrical and thermal templates enable the complete and realistic simulation of a vehicle EPS on-orbit. Applications include on-orbit energy balance determinations for system load changes, initial array and battery EPS sizing for new EPS development, and array and battery technology trade studies. This effort proves the versatility of the Saber simulation program in handling varied and complex simulations accurately and in a reasonable amount of computer time. 9 refs

Electric power markets in Europe 1993; Elmarknaderna i Europa 1993

Energy Technology Data Exchange (ETDEWEB)

Hermanson, K; Lublin, Z; Olofsdotter, A; Petsala, B; Wuolikainen, T

1993-12-01

The development of power markets in Europe is described. Special attention is devoted to the development in France, Germany, Denmark, Finland and Norway. The planned deregulation of the Swedish electric power market will promote an increased trade with electricity across the border. The possibilities and consequences of this trade is elucidated. Also given is a compilation of electric power prices for different groups of consumers, and the differences among European countries. 7 figs, 26 tabs

Reintroducing regulation? Consequences of the European directives for electricity trade (1228/2003) and gas trade (1775/2005) for the European internal power market; Verordnete Regulierung? Die Bedeutung der Stromhandelsverordnung / Verordnung (EG) Nr. 1228/2003 - und der Gashandelsverordnung - Verordnung (EG) Nr. 1775/2005 - fuer den europaeischen Energiebinnenmarkt

Energy Technology Data Exchange (ETDEWEB)

Kaiser, J.

2007-07-01

On 23 June 2003, the European Parliament and Council issued the directive on grid access for transfrontier electricity trading (EltHVO). It is part of a bundle of directives comprising also directives on electricity and natural gas trading (EltRL and GasRL). This marks the third and final state of unbundling of the European internal power market. In December 2003, the European Commission also announced the issuing of a directive on access to natural gas pipelines (GasHVO) which was issued on 28 September 2005 and came into force on 1 July 2006. While the European Parliament views the legislation as a key project for standardizing the European internal market, others see a danger of centralisation and standardisation of concrete regulation decisions. The publication investigates the consequences of the EltHVO and GAsHVO for the internal power market, especially with a view to the possible danger of centralisation. (orig.)

75 FR 28059 - Actual Effects of the Free Trade Agreements With Chile, Australia, and Singapore

Science.gov (United States)

2010-05-19

... Agreements With Chile, Australia, and Singapore AGENCY: United States International Trade Commission. ACTION... Trade Agreements with Chile, Australia, and Singapore. DATES: July 15, 2010: Deadline for filing written... effects of the free trade agreements (FTAs) concluded with Chile, Singapore, and Australia. In its report...

Relative intensity of bilateral trade flows, regional integration, and trade performance: the case of Brazil, 1984-1998

Directory of Open Access Journals (Sweden)

Silva Valquiria da

2003-01-01

Full Text Available The objective of this research is to identify the component of trade that results specifically from bilateral relations and evaluate how the creation of trading blocs affects trade relations between countries. The trirapport coefficient of the relative intensity of bilateral agricultural sector trade flows between Brazil and other countries from 1984 and 1998 is used in the evaluation. In general, the results show that relative trade intensity between Brazil and its non-MERCOSUL trade partners fell after their entry into regional trade agreements (extra-bloc effect. The intra-bloc effect (trade expansion is reflected by changes in trade intensity between Brazil and the other MERCOSUL members and changes in trade intensity between NAFTA members Mexico, Canada, and the United States.

Sustainable Trade Credit and Replenishment Policies under the Cap-And-Trade and Carbon Tax Regulations

Directory of Open Access Journals (Sweden)

Juanjuan Qin

2015-12-01

Full Text Available The paper considers the sustainable trade credit and inventory policies with demand related to credit period and the environmental sensitivity of consumers under the carbon cap-and-trade and carbon tax regulations. First, the decision models are constructed under three cases: without regulation, carbon cap-and-trade regulation, and carbon tax regulation. The optimal solutions of the retailer in the three cases are then discussed under the exogenous and endogenous credit periods. Finally, numerical analysis is conducted to obtain conclusions. The retailer shortens the trade credit period as the environmental sensitivity of the consumer is enhanced. The cap has no effects on the credit period decisions under the carbon cap-and-trade regulation. Carbon trade price and carbon tax have negative effects on the credit period. The retailer under carbon cap-and-trade regulation is more motivated to obey regulations than that under carbon tax regulation when carbon trade price equals carbon tax. Carbon regulations have better effects on carbon emission reduction than with exogenous credit term when the retailer has the power to decide with regards credit policies.

When is public enforcement of insider trading regulations effective?

NARCIS (Netherlands)

Wielhouwer, J.L.

2013-01-01

In this paper we investigate when public enforcement of insider trading regulations reduces the amount of insider trading. We model a game between a potentially self-interested regulator enforcing insider trading laws and a trader who may be trading on inside information. We show that equilibrium

Proceedings of the Emissions trading conference : effective strategies for successful emissions trading in a global market

International Nuclear Information System (INIS)

2001-01-01

There is growing interest everywhere in the topic of emissions trading in order to meet the commitments made under the Kyoto Protocol. During this conference, most aspects of emissions trading were discussed, ranging from the need to establish credible emission reduction estimates to the means of achieving those goals, to the trading activities of Ontario Power Generation in the field of emissions trading both at the domestic and the international level. There were presentations that focussed on greenhouse gas policies, markets and strategic plays, and the preparation for the regulation of greenhouse gas. An emissions trading regime for Canada was examined by one of the presenters. This conference provided a useful venue for all stakeholders to discuss various strategies and ideas related to emissions trading. Speakers represented governments, the private sector and utilities, as well as the National Round Table on the Environment and the Economy. tabs., figs

Intraday trade is the answer for cogeneration

International Nuclear Information System (INIS)

Lomme, J.J.

2006-01-01

It is possible for operators of small cogeneration plants to sell electricity on the day-ahead market of the Amsterdam Power Exchange (APX) or through the unbalance market of the Dutch power transmission operator TenneT. However, it is difficult for them to take part in the market. The solution could be a so-called intraday-market, in which electricity trade can be a continuous process, but the question is who will start such a market [nl

Swiss electricity statistics 2000

International Nuclear Information System (INIS)

2001-01-01

This publication by the Association of Swiss Electricity Enterprises for the Swiss Federal Office of Energy (SFOE) provides statistical information on electricity production, trading and consumption in Switzerland in 2000. Apart from a general overview of the Swiss electricity supply that includes details on power generation, energy transfer with neighbouring countries and data on prices, average consumption and capital investment, the publication also includes graphical representations of electrical energy flows in and out of Switzerland. Tables of data give information on electricity production, import and export for the years 1950 to 2000, the data being supplied for each hydrological year and the summer and winter seasons respectively. The production of power in Switzerland is examined in detail. Details are given on the development of production capacities and the various means of production together with their respective shares of total production. Further tables and diagrams provide information on power production in various geographical regions and on the management of pumped storage hydro-electricity schemes. A further chapter deals in detail with the consumption of electricity, its growth between 1984 and 2000 and its use in various sectors. A fifth chapter examines electricity consumption, generation, import and export on single, typical days, presenting data in tables and diagrams. The next chapter examines energy transfer with foreign countries and the trading structures involved. The final two chapters cover new and future power generation capacities and the economic considerations involved in the supply of electricity

Competitive market and sources of its advantages in the electric energy subsector

Directory of Open Access Journals (Sweden)

Kazimierz Pająk

2017-07-01

Full Text Available The electric energy subsector varies considerably in terms of competitiveness depending on the area under analysis. Power generation, transmission and distribution have quite different characteristics of competitiveness than areas such as electricity trading. In the area of power generation, competitive advantage is developed by factors such as: skilful operation in the fuel market and targeted investments affecting the efficiency and effectiveness of equipment. In the area of energy distribution, despite the natural monopoly, some distribution system operators dynamically take over the market share of newly constructed networks. The area of energy trading can be successfully compared to other competitive market segments where mass sales of services and products occur.

The french electric power evaluation 2005

International Nuclear Information System (INIS)

2006-01-01

This document takes stock on the french electric power situation for the year 2005. It provides information on the consumption the trade, the production, the french market and the RTE (Electric power transport network) infrastructure. (A.L.B.)

Decomposing the trade-environment nexus for Malaysia: what do the technique, scale, composition, and comparative advantage effect indicate?

Science.gov (United States)

Ling, Chong Hui; Ahmed, Khalid; Binti Muhamad, Rusnah; Shahbaz, Muhammad

2015-12-01

This paper investigates the impact of trade openness on CO2 emissions using time series data over the period of 1970QI-2011QIV for Malaysia. We disintegrate the trade effect into scale, technique, composition, and comparative advantage effects to check the environmental consequence of trade at four different transition points. To achieve the purpose, we have employed augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests in order to examine the stationary properties of the variables. Later, the long-run association among the variables is examined by applying autoregressive distributed lag (ARDL) bounds testing approach to cointegration. Our results confirm the presence of cointegration. Further, we find that scale effect has positive and technique effect has negative impact on CO2 emissions after threshold income level and form inverted U-shaped relationship-hence validates the environmental Kuznets curve hypothesis. Energy consumption adds in CO2 emissions. Trade openness and composite effect improve environmental quality by lowering CO2 emissions. The comparative advantage effect increases CO2 emissions and impairs environmental quality. The results provide the innovative approach to see the impact of trade openness in four sub-dimensions of trade liberalization. Hence, this study attributes more comprehensive policy tool for trade economists to better design environmentally sustainable trade rules and agreements.

Trade tensions between EU and Russia: Possible effects on trade in agricultural commodities for Visegrad countries

NARCIS (Netherlands)

Erokhin, V.; Heijman, W.J.M.; Ivolga, A.

2014-01-01

The paper includes overview of the current state of the EU-CIS and the EU-Russia trade flows with particular attention to trade in agricultural commodities, as well as contemporary tendencies in agricultural production and foreign trade in agricultural commodities and food in Russia. The paper

Electrifying integration Electricity production and the South East Europe regional energy market

International Nuclear Information System (INIS)

Hooper, Elizabeth; Medvedev, Andrei

2009-01-01

The paper provides an overview of the generation of electricity in 10 countries in South East Europe during 1995-2004. Using the latest available statistics, we explore the potential of the nascent integration of the electricity markets in South East Europe. We conduct a cross-country analysis of electricity production based on different types of fuel used. The region has a low level of gasification combined with few nuclear power generation facilities, while some countries heavily rely on hydro electric generation. Differences in countries' resource endowment and the possibility of intertemporal substitution between electricity generated from various fuels could stimulate a regional trade in electricity. As an alternative to nationally independent energy policy, regional trade could displace a proportion of the substantial investment in generation facilities required to avert serious supply shortages. Finally, we consider the environmental impact of electricity generation, and identify some of the key trade-offs between different policy objectives. (author)

Heterogeneous trade agreements, WTO membership and international trade : an analysis using matching econometrics

NARCIS (Netherlands)

Kohl, Tristan; Trojanowska, Sofia

2015-01-01

This article explores the heterogeneous effects of trade agreements (TAs) and World Trade Organization (WTO) membership on the volume of international trade. We extend Baier and Bergstrand’s (2009a) application of matching econometrics by distinguishing between different types of TAs and WTO

Effective application of improved profit-mining algorithm for the interday trading model.

Science.gov (United States)

Hsieh, Yu-Lung; Yang, Don-Lin; Wu, Jungpin

2014-01-01

Many real world applications of association rule mining from large databases help users make better decisions. However, they do not work well in financial markets at this time. In addition to a high profit, an investor also looks for a low risk trading with a better rate of winning. The traditional approach of using minimum confidence and support thresholds needs to be changed. Based on an interday model of trading, we proposed effective profit-mining algorithms which provide investors with profit rules including information about profit, risk, and winning rate. Since profit-mining in the financial market is still in its infant stage, it is important to detail the inner working of mining algorithms and illustrate the best way to apply them. In this paper we go into details of our improved profit-mining algorithm and showcase effective applications with experiments using real world trading data. The results show that our approach is practical and effective with good performance for various datasets.

Effective Application of Improved Profit-Mining Algorithm for the Interday Trading Model

Directory of Open Access Journals (Sweden)

Yu-Lung Hsieh

2014-01-01

Full Text Available Many real world applications of association rule mining from large databases help users make better decisions. However, they do not work well in financial markets at this time. In addition to a high profit, an investor also looks for a low risk trading with a better rate of winning. The traditional approach of using minimum confidence and support thresholds needs to be changed. Based on an interday model of trading, we proposed effective profit-mining algorithms which provide investors with profit rules including information about profit, risk, and winning rate. Since profit-mining in the financial market is still in its infant stage, it is important to detail the inner working of mining algorithms and illustrate the best way to apply them. In this paper we go into details of our improved profit-mining algorithm and showcase effective applications with experiments using real world trading data. The results show that our approach is practical and effective with good performance for various datasets.

The U.S.-Singapore Free Trade Agreement: Effects After Five Years

Science.gov (United States)

2010-03-26

U.S. service providers in Singapore under the FTA , Citibank has been able to expand its operations there (it has 50% of the credit card market...failing to comply with a collection of information if it does not display a currently valid OMB control number. 1. REPORT DATE 26 MAR 2010 2. REPORT...U.S.-Singapore Free Trade Agreement: Effects After Five Years Congressional Research Service Summary The U.S.-Singapore Free Trade Agreement ( FTA

The electricity prices in the European Union. The role of renewable energies and regulatory electric market reforms

International Nuclear Information System (INIS)

Moreno, Blanca; López, Ana J.; García-Álvarez, María Teresa

2012-01-01

The European Union electricity market has been gradually liberalized since 1990s. Theoretically, competitive markets should lead to efficiency gains in the economy thus reducing electricity prices. However, there is a controversial debate about the real effects of the electricity liberalization on electricity prices. Moreover, the increased generation of electricity from renewable energies RES-E (Electricity from Renewable Energy Sources) is also integrated in wholesale market reducing wholesale prices, but the final effect over household prices is not clear. In order to contribute to this debate, this paper provides an empirical investigation into the electricity prices determinants. In fact we develop econometric panel models to explore the relationship between the household electricity prices and variables related to the renewable energy sources and the competition in generation electricity market. More specifically we use a panel data set provided by Eurostat and covering 27 European Union countries during the period 1998–2009. Our results suggest that electricity prices increase with the deployment of RES-E and with the expansion of greenhouse gas emissions produced by energy industries- as a European Union CO 2 emission trading scheme exists. Results also reveal that country's characteristics can affect household electricity prices. -- Highlights: ► Electricity liberalized markets should lead to reduce electricity prices. ► The use of renewable energies (RES) reduce wholesale electricity prices. ► However, household electricity prices are increasing in European Union. ► Panel data models are developed to investigate the effect of RES and electricity competition on household electricity prices. ► We find that the deployment of RES increases prices paid by consumers in a liberalized market.

Energy trading and pricing in microgrids with uncertain energy supply

DEFF Research Database (Denmark)

Ma, Kai; Hu, Shubing; Yang, Jie

2017-01-01

This paper studies an energy trading and pricing problem for microgrids with uncertain energy supply. The energy provider with the renewable energy (RE) generation (wind power) determines the energy purchase from the electricity markets and the pricing strategy for consumers to maximize its profi....... In particular, the uncertainty of the energy supply from the energy provider is considered. Simulation results show that the energy provider can obtain more profit using the proposed decision-making scheme.......This paper studies an energy trading and pricing problem for microgrids with uncertain energy supply. The energy provider with the renewable energy (RE) generation (wind power) determines the energy purchase from the electricity markets and the pricing strategy for consumers to maximize its profit...

Mashreq Arab interconnected power system potential for economic energy trading

International Nuclear Information System (INIS)

Al-Shehri, A.M.; El-Amin, I.M.; Opoku, G.; Al-Baiyat, S.A.; Zedan, F.M.

1994-01-01

The Mashreq Arab countries covered in this study are Bahrain, Egypt, Jordan, Lebanon, Oman, Qatar, Saudi Arabia, Syria, the United Arab Emirates, and Yemen. A feasibility study for the interconnection of the electrical networks of the Mashreq Arab countries, sponsored by the Arab Fund, was completed in June 1992. Each country is served by one utility except Saudi Arabia, which is served by four major utilities and some smaller utilities serving remote towns and small load centers. The major utilities are the Saudi consolidated electric Company in the Eastern Province (SCECO East), SCECO Center, SCECO West, and SCECO South. These are the ones considered in this study. The Mashreq Arab region has a considerable mix of energy resources. Egypt and Syria have some limited amounts of hydropower resources, and the Arabian Gulf region is abundant in fossil fuel reserves. Owing to the differences in energy production costs, a potential exists for substantial energy trading between electric utilities in the region. The major objective of this project is to study the feasibility of electric energy trading between the Mashreq Arab countries. The basis, assumptions, and methodologies on which this energy trading study is based relate to the results and conclusions arising out of the previous study, power plant characteristics and costs, assumptions on economic parameters, rules for economy energy exchange, etc. This paper presents the basis, methodology, and major findings of the study

Swiss electricity statistics 2001

International Nuclear Information System (INIS)

2002-01-01

This publication by the Association of Swiss Electricity Enterprises for the Swiss Federal Office of Energy (SFOE) provides statistical information on electricity production, trading and consumption in Switzerland in 2001. Apart from a general overview of the Swiss electricity supply that includes details on power generation, energy transfer with neighbouring countries and data on prices, average consumption and capital investment, the publication also includes graphical representations of electrical energy flows in and out of Switzerland. Tables of data give information on electricity production, import and export for the years 1950 to 2001, the data being supplied for each hydrological year and the summer and winter seasons respectively. The production of power in Switzerland is examined in detail. Details are given on the development of production capacities and the various means of production together with their respective shares of total production. Further tables and diagrams provide information on power production in various geographical regions and on the management of pumped storage hydro-electricity schemes. A further chapter deals in detail with the consumption of electricity, its growth between 1984 and 2001 and its use in various sectors. A fifth chapter examines electricity consumption, generation, import and export on single, typical days, presenting data in tables and diagrams. The next chapter examines energy transfer with foreign countries and the trading structures involved. The final two chapters cover new and future power generation capacities and the economic considerations involved in the supply of electricity chapters cover new and future power generation capacities and the economic considerations involved in the supply of electricity

Slovak Electric, plc. (Annual report 1999)

International Nuclear Information System (INIS)

2000-01-01

A brief account of activities carried out by the Slovenske Elektrarne, a.s. in 1999 is presented. These activities are reported under the headings: (1) Address; (2) Significant events; (3) SE, a.s., Board of directors; (4) SE, a.s., Supervisory Board; (5) Business strategy and development programme; (6) SE, a.s., Organisational structure; (7) A layout of SE, a.s., Branch plants and Headquarters; (8) SE, a.s., Capital investment in other trading companies; (9) Basic data; (10) Electricity generation; (11) Supply heat generation; (12) Management and operation of the Slovak Republic's power systems; (13) Slovak transmission system parameters; (14) Transmission system of the Slovak Republic; (15) Electricity trading; (16) Heat trading; (17) Safety and health protection at work and fire protection; (18) Services to electricity consumers; (19) Investment programme; (20) Scientific and development; (22) Environment protection; (23) Nuclear safety; (24) Quality system; (25) International co-operation; (26) Centrel; (27) Human resources; (28) Informatics; (29) Telecommunications; (30) Auditor's report; (31) Balance sheet; (32) Income analysis; (33) Cash-flow summary as of 31 December 1999

The economic effects of a Spanish trade boycott against Catalan products

OpenAIRE

Xavier Cuadras Morató; Modest Guinjoan

2011-01-01

We study the potential consequences of a hypothetical trade boycott against Catalan products organized by some sectors of the Spanish society mainly for political reasons. A symmetric trade boycott would have two effects: a reduction of Catalan exports to Spain and a partial process of import substitution in Catalonia. In order to quantify the economic impact of the boycott, we compare the "actual" Catalan economy, as described in the input-output table for 2005, with a "simulated" Catalan ec...

Electric power in Canada 1993

International Nuclear Information System (INIS)

1994-01-01

The electric power industry in Canada in 1993 is reviewed. Items discussed include: the international context of Canadian electricity; regulatory structures; electricity and the environment; electricity consumption; electricity generation; generating capacity and reserve; electricity trade; transmission; electric utility investment and financing; costing and pricing; electricity outlook; demand-side management; and non-utility generation. Information is appended on installed capacity and electrical energy consumption in Canada, installed generating capacity, conventional thermal capacity by principal fuel type, provincial electricity imports and exports, Canadian electricity exports by exporter and importer, generation capacity by type, installed generating capacity expansion in Canada by station, federal environmental standards and guidelines, and prices paid by major electric utilities for non-utility generation. 26 figs., 90 tabs

Guide to federal regulation of sales of imported electricity in Canada, Mexico and the United States

International Nuclear Information System (INIS)

2005-01-01

This Guide to Federal Regulation of Sales of Imported Electricity in Canada, Mexico, and the United States promotes cross-border electricity trade. It provides information on federal regulation of cross-border electricity trade and is intended to be used together with a companion guide called the North American Regulation of International Electricity Trade which outlines regulations for the construction and operation of cross-border power lines and the permitting requirements for electricity exports and imports between Canada, Mexico and the United States. The guide outlines the basic elements of the general federal regulatory process that applies to a given North American cross-border electricity trade. It offers an improved understanding of the applicable country's federal regulatory regime. Different federal government agencies within each country may regulate different aspects of a particular cross-border electricity trade. This guide does not examine the requirements that may apply at the state or provincial government levels. Rather, it is a collaborative effort of the 3 national energy departments and energy regulators that support the Experts Group on Electricity Regulatory Issues, a specialized unit assembled by the North American Energy Working Group (NAEWG). It was noted that the energy policies and regulations of each nation can change periodically

Disentangling regional trade agreements, trade flows and tobacco affordability in sub-Saharan Africa.

Science.gov (United States)

Appau, Adriana; Drope, Jeffrey; Labonté, Ronald; Stoklosa, Michal; Lencucha, Raphael

2017-11-14

In principle, trade and investment agreements are meant to boost economic growth. However, the removal of trade barriers and the provision of investment incentives to attract foreign direct investments may facilitate increased trade in and/or more efficient production of commodities considered harmful to health such as tobacco. We analyze existing evidence on trade and investment liberalization and its relationship to tobacco trade in Sub-Saharan African countries. We compare tobacco trading patterns to foreign direct investments made by tobacco companies. We estimate and compare changes in the Konjunkturforschungsstelle (KOF) Economic Globalization measure, relative price measure and cigarette prices. Preferential regional trade agreements appear to have encouraged the consolidation of cigarette production, which has shaped trading patterns of tobacco leaf. Since 2002, British American Tobacco has invested in tobacco manufacturing facilities in Nigeria, Kenya and South Africa strategically located to serve different regions in Africa. Following this, British America Tobacco closed factories in Ghana, Rwanda, Uganda, Mauritius and Angola. At the same time, Malawi and Tanzania exported a large percentage of tobacco leaf to European countries. After 2010, there was an increase in tobacco exports from Malawi and Zambia to China, which may be a result of preferential trade agreements the EU and China have with these countries. Economic liberalization has been accompanied by greater cigarette affordability for the countries included in our analysis. However, only excise taxes and income have an effect on cigarette prices within the region. These results suggest that the changing economic structures of international trade and investment are likely heightening the efficiency and effectiveness of the tobacco industry. As tobacco control advocates consider supply-side tobacco control interventions, they must consider carefully the effects of these economic agreements and

Bilateral Trade Elasticity of Serbia: Is There a J-Curve Effect?

Directory of Open Access Journals (Sweden)

Safet Kurtovic

2017-06-01

Full Text Available We assess the bilateral elasticity effect of real exchange rate depreciation on the export and import demand functions of Serbia and its nine leading trade partners. Analysing quarterly data for the 2004-2015 period, we find the presence of a J-curve effect in the cases of Germany, Austria and Croatia. In contrast, we find that the Marshall-Lerner conditions are fulfilled in the case of bilateral trade with Austria. Finally, in our estimates the elasticity to income has a greater impact on the export and import demand functions than the elasticity to the exchange rate. JEL Classification: F14, F31, F32

Individual Attitudes Towards Trade

DEFF Research Database (Denmark)

Jäkel, Ina Charlotte; Smolka, Marcel

2013-01-01

Using the 2007 wave of the Pew Global Attitudes Project, this paper finds statistically significant and economically large Stolper-Samuelson effects in individuals’ preference formation towards trade policy. High-skilled individuals are substantially more pro-trade than low-skilled individuals......-Ohlin model in shaping free trade attitudes, relative to existing literature....

Implications of the New Regional Trade Agreements for the World Trading System

Directory of Open Access Journals (Sweden)

Agnes Ghibuțiu

2017-04-01

Full Text Available The year 2013 witnessed an outstanding rise in the pace and scale of negotiations on regional trade agreements (RTAs. While RTAs are not a new phenomenon, current negotiations involve multiple parties and/or major trading countries that have a significant combined economic weight, i.e. mega-RTAs. This paper looks at the recent surge in trade regionalism and addresses some of the key issues related to the potential impact of mega-RTAs upon the world trading system and global trade patterns. It examines the peculiarities of the new mega-RTAs and the factors underlying their proliferation, and discusses the main concerns raised by their foreseeable impact on excluded countries and the wider trading system. The paper finds that, if successfully concluded, mega-RTAs are likely to have far-reaching implications for the world trading regime, affecting its transparency and coherence. Nevertheless, the adverse effects could be cushioned through a revival of trading nations’ interest in the multilateral Doha Round talks.

Economic, environmental and international trade effects of the EU Directive on energy tax harmonization

International Nuclear Information System (INIS)

Kohlhaas, Michael; Schumacher, Katja; Diekmann, Jochen; Schumacher, Dieter; Carmes, Martin

2005-01-01

In October 2003, the European Union introduced a Directive, which widens the scope of the EU's minimum taxation system from mineral oils to all energy products including coal, natural gas and electricity. It aims at reducing distortions that currently exist between Member States as well as between energy products. In addition, it increases previous minimum tax rates and thus the incentive to use energy more efficiently. The Directive will lead to changes in the energy tax schemes in a number of countries, in particular some southern Member Countries (Greece, Spain, Portugal) and most of the new Member States. In this paper, we analyze the effects of the EU energy tax harmonization with GTAP-E, a computable general equilibrium model. Particular focus is placed on the Eastern European countries, which became new members of the EU in May 2004. We investigate the effects of the tax harmonization on overall economic growth and sectoral development. Special attention is paid to international trade in order to analyze if competitiveness concerns, which have been forwarded in the context of energy taxation are valid. Furthermore, the effect on energy consumption and emissions and thus the contribution to the EU's climate change targets is analyzed

Synaptic Effects of Electric Fields

Science.gov (United States)

Rahman, Asif

Learning and sensory processing in the brain relies on the effective transmission of information across synapses. The strength and efficacy of synaptic transmission is modifiable through training and can be modulated with noninvasive electrical brain stimulation. Transcranial electrical stimulation (TES), specifically, induces weak intensity and spatially diffuse electric fields in the brain. Despite being weak, electric fields modulate spiking probability and the efficacy of synaptic transmission. These effects critically depend on the direction of the electric field relative to the orientation of the neuron and on the level of endogenous synaptic activity. TES has been used to modulate a wide range of neuropsychiatric indications, for various rehabilitation applications, and cognitive performance in diverse tasks. How can a weak and diffuse electric field, which simultaneously polarizes neurons across the brain, have precise changes in brain function? Designing therapies to maximize desired outcomes and minimize undesired effects presents a challenging problem. A series of experiments and computational models are used to define the anatomical and functional factors leading to specificity of TES. Anatomical specificity derives from guiding current to targeted brain structures and taking advantage of the direction-sensitivity of neurons with respect to the electric field. Functional specificity originates from preferential modulation of neuronal networks that are already active. Diffuse electric fields may recruit connected brain networks involved in a training task and promote plasticity along active synaptic pathways. In vitro, electric fields boost endogenous synaptic plasticity and raise the ceiling for synaptic learning with repeated stimulation sessions. Synapses undergoing strong plasticity are preferentially modulated over weak synapses. Therefore, active circuits that are involved in a task could be more susceptible to stimulation than inactive circuits

Effects of NYMEX trading on IPE Brent Crude futures markets: a duration analysis

International Nuclear Information System (INIS)

Lin, S.X.; Tamvakis, M.N.

2004-01-01

Recent developments in the energy markets, and the surge and dip in crude oil prices over the last few years, have renewed the interest in the workings of the two main price setting markets: London's International Petroleum Exchange (IPE) and New York's Mercantile Exchange (NYMEX). The interaction of these two markets, when both of them are open (synchronous trading) and when only London is open (asynchronous trading), is important, in view of the fact that most participants take positions in both markets. This paper looks at how London is affected by New York by analysing the transaction duration of the IPE Brent futures contract, both when the NYMEX WTI futures contract is being traded and when NYMEX is closed. Using tick-by-tick data obtained from IPE, transaction durations are found to form two distinctive and inverted U-shaped patterns. Autoregressive conditional duration (ACD) model, first introduced by Engle and Russell, is applied to the data. Parameters of IPE morning and afternoon are significantly different from each other, underlining the dominant effects of NYMEX on IPE trading. The results from the current analysis reinforce previous results by the authors, which indicate that NYMEX is a leading price setter in crude oil futures prices and has a dominant effect on the IPE-traded contracts

Green certificates and carbon trading in the Netherlands

International Nuclear Information System (INIS)

Boots, M.

2003-01-01

The combination of trading schemes for green certificates and for carbon, as they are implemented and planned in the Netherlands, imply a complete separation of green certificates and CO 2 markets. This means that the costs of CO 2 reduction will be reflected in the spot price of electricity and that the price of green certificates only reflects the additional cost of RE development. However, since the green certificate scheme is already implemented, while the carbon trading scheme is not, it is unclear if currently the green certificate value includes the CO 2 reduction value of RE production. It is important that buyers and sellers in the market for green certificates agree on what they are trading, therefore this issue should be clarified

Potential gains from CO2 trading in the EU

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Vesterdal, Morten

2003-01-01

A new Green Paper from the European Commission on emissions trading foresees the setting-up of a CO2 trading system within the EU for the energy sector. Because any such international environmental agreement is self-enforcing, the participants must have an economic net gain from joining the propo......A new Green Paper from the European Commission on emissions trading foresees the setting-up of a CO2 trading system within the EU for the energy sector. Because any such international environmental agreement is self-enforcing, the participants must have an economic net gain from joining...... the proposed system. Our contribution is therefore to follow the Green Paper proposal and investigate whether member countries and the largest industrial boilers in the electricity sector actually will get significant net gains from CO2 trade in the European Union rather than undertaking domestic actions...... solely. We show, based on PRIMES model, that a full CO2 emission trading system between Annex B countries suggest overall cost savings in the order of 40 % compared to a situation with no trading at all between Member States. A tradable CO2 permit scheme with comprehensive coverage of emissions within...

The development of renewable energies and supply security: A trade-off analysis

International Nuclear Information System (INIS)

Röpke, Luise

2013-01-01

This paper analyzes the effects of the green transformation on the German electricity sector with respect to the energy-political triangle. It focuses on how the development of renewable energies will affect security of electricity supply. In a cost–benefit analysis, the value of supply security is compared with its costs of provision. More specifically, the benefits of maintaining the present quality of electricity supply are the avoided social damages from electricity outages and are compared with the respective investment costs in the low- and medium-voltage distribution grid. It is shown that the transformation process towards a green and decentralized production structure will be costly for society, even though the costs can be reduced by different measures. - Highlights: • The effects of the transformation on the German electricity sector are analyzed. • The paper focuses on the trade-off between green energies and supply security. • The benefits of maintaining supply quality are compared with the investment costs. • The costs of maintaining supply quality by far exceed the induced welfare gains. • A strong focus on renewable energies endangers different energy-political goals

Emissions trading and firms' strategies. The case of power producers

International Nuclear Information System (INIS)

Rousse, O.

2005-11-01

This thesis deals with the impacts of a domestic emissions trading scheme on firms' strategies. As recent experiences of such programs (Acid Rain Program, RECLAIM Program, NOx Budget Program and the European Union Emissions Trading Scheme) concern mainly heat and power producers, we analyze especially strategies of these companies. In context of electricity market deregulation, our study takes two directions: uncertainty and competitive distortions. Concerning uncertainty, we are interested in portfolio management of emission permits, that is choice under uncertainty between buying, selling and banking permits. Concerning competitive distortions, we consider manipulations on the permits and/or products markets. Among others, we investigate interactions between a pollution market and the wholesale electricity market. From a general point of view, we show that a permits market, even competitive, gives to power producers more opportunities to act strategically on wholesale electricity markets. By this way, our study attempts to indicate when these market distortions are more likely to occur and to give some emissions market design instructions. (author)

Trade agreements with side-effects? : European Union and United States to negotiate Transatlantic Trade and Investment Partnership

OpenAIRE

Mildner, Stormy-Annika; Schmucker, Claudia

2013-01-01

"At the G8 summit in Northern Ireland on June 17, the European Union and the United States kicked off the negotiations for a comprehensive Transatlantic Trade and Investment Partnership (TTIP) to reduce tariffs and non-tariff trade barriers. While the expected economic benefits for both sides would be more than welcome in an era of gloomy growth forecasts, a TTIP is not entirely without risks for global trade and the multilateral trading system. The talks could tie up a considerable portion o...

Electricity statistics for Finland 1997; Saehkoetilasto 1997

Energy Technology Data Exchange (ETDEWEB)

Kangas, H; Savolainen, T [Adato Energia Oy, Helsinki (Finland)

1998-12-01

Until 1995 the electrical statistics information has according to the law about electric utilities and facilities been collected and handled by the Electrical Inspectorate. In 1996 the work was done by the Finnish Electricity Association and it was commissioned by the Ministry of Trade and Industry. Since 1996 the collection and handling of the information is based on the Electricity Market Act. The information is mainly submitted by the producers and distributors of electricity and processed since 1997 in Adato Energia Oy owned jointly by Finnish Energy Industries Federation, Finnish District Heating Association and Finnish Electricity Association. This action is based on a mutual contract of the Statistics Finland, Adato Energia Oy, Finnish Energy Industries Federation and Finnish Electricity Association. The Electricity Statistics for Finland 1997 contains several summaries about the consumption and the production. There is also summaries about the networks, the effects of electricity, the capacities of electricity, the fuels used in production and the dwellings heated by electric power. Like before a list of names, addresses, persons and telephone numbers is available. Additionally a list comprising the power consumption in all Finnish communes and a glossary in three languages (Finnish, Swedish and English) are included

Continuous Trading Dynamically Effectively Complete Market with Heterogeneous Beliefs

DEFF Research Database (Denmark)

Qin, Zhenjiang

on the heterogeneous posterior variance of dividend throughout [0; T). The market populated with many time-additive exponential-utility investors is dynamically effectively complete, if investors are allowed to trade in only two long-lived securities continuously. The underlying mechanism is that these assumptions...... imply that the Pareto efficient individual consumption plans are measurable with respect to the aggregate consumption. Hence, I may not need a dynamically complete market to facilitate a Pareto efficient allocation of consumption, the securities only have to facilitate an allocation which is measurable...... a sufficient statistic for computation of the price of redundant dividend derivative and the equilibrium portfolios. The investors form their Pareto optimal trading strategies as if they intend to dynamically endogenously replicate the value of the dividend derivative....

Electric power in Canada 1993

International Nuclear Information System (INIS)

1994-01-01

The electric power industry in Canada in 1993 is reviewed. Items discussed include: the international context of Canadian electricity; regulatory structures; electricity and the environment; electricity consumption; electricity generation; generating capacity and reserve; electricity trade; transmission; electric utility investment and financing; costing and pricing; electricity outlook; demand-side management; and non-utility generation. Appended information is presented on installed capacity and electrical energy consumption in Canada, installed generating capacity, conventional thermal capacity by principal fuel type, provincial electricity imports and exports, Canadian electricity exports by exporter and importer, generation capacity by type, installed generating capacity expansion in Canada by station, federal environmental standards and guidelines, and prices paid by major electric utilities for non-utility generation. 23 figs., 95 tabs

Electric power in Canada 1992

International Nuclear Information System (INIS)

1993-01-01

The electric power industry in Canada in 1991 is reviewed. Items discussed include: the international context of Canadian electricity; regulatory structures; electricity and the environment; electricity consumption; electricity generation; generating capacity and reserve; electricity trade; transmission; electric utility investment and financing; costing and pricing; electricity outlook; demand-side management; and non-utility generation. Appended information is presented on installed capacity and electrical energy consumption in Canada, installed generating capacity, conventional thermal capacity by principal fuel type, provincial electricity imports and exports, Canadian electricity exports by exporter and importer, generation capacity by type, installed generating capacity expansion in Canada by station, federal environmental standards and guidelines, and prices paid by major electric utilities for non-utility generation. 26 figs., 90 tabs

The EU Emissions Trading Scheme. Allowance Prices, Trade Flows, Competitiveness Effects

International Nuclear Information System (INIS)

Klepper, G.; Peterson, S.

2004-03-01

The upcoming European Emissions Trading Scheme (ETS) is one of the more controversial climate policy instruments. Predictions about its likely impact and its performance can at present only be made to a certain degree. As long as the National Allocations Plans are not finally settled the overall supply of allowances is not determined. In this paper we will identify key features and key impacts of the EU ETS by scanning the range of likely allocation plans using the simulation model DART. The analysis of the simulation results highlights a number of interesting details in terms of allowance trade flows between member countries, of allowance prices, and in terms of the role of the accession countries in the ETS

Introducing nonpoint source transferable quotas in nitrogen trading: The effects of transaction costs and uncertainty.

Science.gov (United States)

Zhou, Xiuru; Ye, Weili; Zhang, Bing

2016-03-01

Transaction costs and uncertainty are considered to be significant obstacles in the emissions trading market, especially for including nonpoint source in water quality trading. This study develops a nonlinear programming model to simulate how uncertainty and transaction costs affect the performance of point/nonpoint source (PS/NPS) water quality trading in the Lake Tai watershed, China. The results demonstrate that PS/NPS water quality trading is a highly cost-effective instrument for emissions abatement in the Lake Tai watershed, which can save 89.33% on pollution abatement costs compared to trading only between nonpoint sources. However, uncertainty can significantly reduce the cost-effectiveness by reducing trading volume. In addition, transaction costs from bargaining and decision making raise total pollution abatement costs directly and cause the offset system to deviate from the optimal state. While proper investment in monitoring and measuring of nonpoint emissions can decrease uncertainty and save on the total abatement costs. Finally, we show that the dispersed ownership of China's farmland will bring high uncertainty and transaction costs into the PS/NPS offset system, even if the pollution abatement cost is lower than for point sources. Copyright © 2015 Elsevier Ltd. All rights reserved.

A Curriculum Guide for Electricity/Electronics.

Science.gov (United States)

Rouse, Bill, Comp.

This curriculum guide is designed to upgrade the secondary electrical trades program in Mississippi by broadening its scope to incorporate basic electronic principles. Covered in the individual chapters of the guide are the following courses: basic electricity (occupational information, basic physics, circuit fundamentals, resistance and Ohm's…

Trading of the electric power originated at biomass - regulatory incentives in the new electric sector model; Comercializacao de energia eletrica proveniente de biomassa. Incentivos regulatorios no novo modelo do setor eletrico

Energy Technology Data Exchange (ETDEWEB)

Mariotoni, Carlos Alberto [Universidade Estadual de Campinas (UNICAMP), Campinas, SP (Brazil). Faculdade de Engenharia Civil, Arquitetura e Urbanismo. Grupo de Planejamento Energeticos e Sistemas Eletricos]. E-mail: cam@fec.unicamp.br; Agapito, Cassiano Augusto; Lima, Rodrigo Alves [AES Tiete S.A., Sao Paulo, SP (Brazil)]. E-mails: cassiano.agapito@aes.com; rodrigoa.lima@aes.com

2006-07-01

Brazil offers excellent conditions to produce and use biomass as fuel in large scale. The electric energy generation from biomass presents a huge potential, however it is poorly explored up to this moment. Among the prime reasons by the lack of investments in that sector are the institutional obstacles and the risk aversion of investors who have a different focus in business and have difficulty to understand the complex market rules. The Brazilian government shows interest in increase the share of that source in the national installed capacity, since various social and environmental advantages, besides supplementary between the hydraulic and biomass inventory. The regulation changes since the law 10,848/04 and the decree 5,163/04 modify the structure of the electrical energy market and brought some incentives to the sells of the energy deriving from biomass. The possibility of trade your capacity, the annual Physical Guarantee definition and the reduction on transmission and distribution costs will be the center of our discussion. (author)

Freer markets and the abatement of carbon emissions. The electricity-generating sector in India

International Nuclear Information System (INIS)

Khanna, Madhu; Zilberman, David

1999-01-01

This paper develops a framework to explore the implications of trade and domestic policy distortions for the magnitude of carbon emissions and for the welfare costs of abating these emissions. An application to the electricity-generating sector in India shows that economic policy reforms can also be effective environmental policy instruments and reduce carbon emissions even in the absence of an emissions tax. This reduction in emissions is accompanied by an increase in domestic welfare, an increase in electricity output, and conservation of coal. Coordinating trade and domestic policy reform with an emissions tax policy reduces emissions further, while leading to gains in welfare that are greater than those under an emissions tax policy alone

France Electricity Report for 2014 - Press kit

International Nuclear Information System (INIS)

Cisse, Carole; Marie, Stephen

2015-01-01

In compliance with the remits assigned to it by the legislator, every year RTE publishes the electricity report, which provides an overview of the power system for the past year (trends in electricity consumption and generation, power mix, level of market prices, extent of French electricity exports and imports, etc). French electricity consumption fell by 6% in 2014 according to raw data, given the extremely mild weather, and by 0.4% after adjustment for weather contingencies. Renewable energies continued to be developed and accounted for nearly 20% of French electricity consumption. The decrease in electricity consumption in 2014, combined with the boost of renewable energies, enabled CO 2 emissions in the power sector to be further reduced by 40%. With a positive trade balance of 65 TWh, France remained the leading electricity exporter in Europe. Due to the mildness of the weather (2014 was the hottest year since the beginning of the 20. century), gross electricity consumption fell by 6% against 2013, to 465.3 TWh. Adjusted for weather contingencies, French electricity consumption decreased by 0.4%. For the first time, SME-SMI, professional and private consumption also fell by 0.5% (392.4 TWh), while large-scale industrial consumption remained stable (67.4 TWh). This slight drop in electricity consumption not only reflected the economic slowdown but also the effect of energy saving measures deployed in France over the past few years. In 2014, renewable energies (including hydropower) accounted for nearly 20% of French electricity consumption, mirroring 2013 with albeit one difference: renewable energy generation, excluding hydropower, outperformed the fossil fuel share, with 28 TWh of electricity generated. Clarification of the regulatory framework and more favourable economic provisions in 2014 fostered an increase of nearly 1,900 MW in wind power and photovoltaic power generation capacities, with installed capacity of wind power of more than 9,100 MW and that

78 FR 20137 - Probable Economic Effect of Certain Modifications to the North American Free Trade Agreement...

Science.gov (United States)

2013-04-03

... INTERNATIONAL TRADE COMMISSION [Investigation No. TA-103-027] Probable Economic Effect of Certain... investigation No. TA-103-027, Probable Economic Effect of Certain Modifications to the North American Free Trade... reached agreement in principle with representatives of the governments of Canada and Mexico on proposed...

Stochastic Optimal Wind Power Bidding Strategy in Short-Term Electricity Market

DEFF Research Database (Denmark)

Hu, Weihao; Chen, Zhe; Bak-Jensen, Birgitte

2012-01-01

Due to the fluctuating nature and non-perfect forecast of the wind power, the wind power owners are penalized for the imbalance costs of the regulation, when they trade wind power in the short-term liberalized electricity market. Therefore, in this paper a formulation of an imbalance cost...... minimization problem for trading wind power in the short-term electricity market is described, to help the wind power owners optimize their bidding strategy. Stochastic optimization and a Monte Carlo method are adopted to find the optimal bidding strategy for trading wind power in the short-term electricity...... market in order to deal with the uncertainty of the regulation price, the activated regulation of the power system and the forecasted wind power generation. The Danish short-term electricity market and a wind farm in western Denmark are chosen as study cases due to the high wind power penetration here...

Analysis of electricity price in Danish competitive electricity market

DEFF Research Database (Denmark)

Hu, Weihao; Chen, Zhe; Bak-Jensen, Birgitte

2012-01-01

electricity markets in some ways, is chosen as the studied power system. 10 year actual data from the Danish competitive electricity market are collected and analyzed. The relationship among the electricity price (both the spot price and the regulation price), the consumption and the wind power generation...... in an electricity market is investigated in this paper. The spot price and the regulation price generally decrease when the wind power penetration in the power system increases or the consumption of the power system decreases. The statistical characteristics of the spot price and the regulation price for different...... consumption periods and wind power penetration are analyzed. Simulation results show that the findings of this paper are useful for wind power generation companies to make the optimal bidding strategy so that the imbalance cost of trading wind power on the electricity market could be reduced....

Option Derivatives in Electricity Hedging

Directory of Open Access Journals (Sweden)

P. Pavlátka

2010-01-01

Full Text Available Despite the high volatility of electricity prices, there is still little demand for electricity power options, and the liquidity on the power exchanges of these power derivatives is quite low. One of the reasons is the uncertainty about how to evaluate these electricity options and about finding the right fair value of this product. Hedging of electricity is associated mainly with products such as futures and forwards. However, due to new trends in electricity trading and hedging, it is also useful to think more about options and the principles for working with them in hedging various portfolio positions and counterparties. We can quite often encounter a situation when we need to have a perfect hedge for our customer’s (end user consuming electricity portfolio, or we have to evaluate the volumetric risk (inability of a customer to predict consumption, which is very similar to selling options. Now comes the moment to compare the effects of using options or futures to hedge these open positions. From a practical viewpoint, the Black-Scholes prices appear to be the best available and the simplest method for evaluating option premiums, but there are some limitations that we have to consider.

Tools of the Trade for More Effective Instructional Leaders.

Science.gov (United States)

Pino, Edward C.

1988-01-01

Instructional leaders need a sturdy support system and a sound background in clinical supervision to be effective administrators. This article identifies three vital tools of the trade: a specific set of basic skills for quality teaching; a support system for each teaching skill; and a dependable, flexible, and personalized delivery system. (MLH)

Trade and health: how World Trade Organization (WTO) law affects alcohol and public health.

Science.gov (United States)

Baumberg, Ben; Anderson, Peter

2008-12-01

The alcohol field is becoming more aware of the consequences of world trade law for alcohol policies. However, there is a need for greater clarity about the different effects of trade on alcohol-related harm. A comprehensive review of all literature on alcohol and world trade [including World Trade Organization (WTO) disputes on alcohol], supported by a more selective review of other relevant cases, academic reports and the grey literature on trade and health. The burden of WTO law on alcohol policies depends upon the type of policy in question. Purely protectionist policies are likely to be struck down, which may lead to increases in alcohol-related harm. Partly protectionist and partly health-motivated policies are also at risk of being struck down. However, purely health-motivated policies are likely to be defended by the WTO-and to the extent that policy makers misunderstand this, they are needlessly avoiding effective ways of reducing alcohol-related harm. WTO agreements contain genuine and substantial risks to alcohol policies, and various ways of minimizing future risks are suggested. However, the 'chilling effect' of mistakenly overestimating these constraints should be avoided. Health policy makers should decide on which policies to pursue based primarily on considerations of effectiveness, ethics and politics rather than legality. As long as any effect of these policies on trade is minimized, they are overwhelmingly likely to win any challenges at the WTO.

Industrial Electricity. In-Plant Distribution. Vocational Trade and Industrial Education.

Science.gov (United States)

Teague, Cash; Pewewardy, Garner

This curriculum guide, part of a series of industrial electricity curriculum guides, consists of materials for use in teaching a course on the in-plant distribution of electricity. Discussed in the introductory lessons are the National Electrical Code, power equipment, and blueprint reading. The next section, a series of units on branch-circuit…

Effects of electric discharges on polymers

International Nuclear Information System (INIS)

Bagirov, M.A.

2002-01-01

Full text: One of the reasons for the worsening of electrical properties of polymeric isolation in use in the effect of the electric discharges which developing in the gas inclusions and in the interlayer inside the isolation itself. The electrical discharges in the gas gap lead to the electrical growing old and the worsening of its electro physical qualities. We have learned the changes of electrical properties (dielectrical permeability and dielectrical loss, and electrical conductivity, electrical strength) of polymer films under the influence of electrical discharges. This paper shows the ways of increase of stability of polymers to the electrical discharges

Canadian municipal carbon trading primer

International Nuclear Information System (INIS)

Seskus, A.

2002-01-01

The trading of greenhouse gas (GHG) emissions is being suggested as an effective economic way to meet Canada's Kyoto target. Emissions trading is a market-based instrument that can help achieve environmental improvements while using the market to absorb the economical and effective measures to achieve emissions reductions. Placing a value on emissions means that in order to minimize costs, companies will be motivated to apply the lowest-cost emission reductions possible for regulatory approval. The two main types of emissions trading that exist in Canada are the trading of emissions that lead to the formation of smog or acid rain, and the trading of greenhouse gas emissions that lead to climate change. Since carbon dioxide is the most prevalent GHG, making up approximately 75 per cent of Canadian GHG emissions, the trading of units of GHGs is often referred to as carbon trading. The impact that emissions trading will have on municipal operations was the focus of this primer. The trading of GHG involves buying and selling of allowances of GHGs between contracting parties, usually between one party that is short of GHG credits and another that has excess credits. The 3 common approaches to emissions trading include allowance trading (cap and trade), credit trading (baseline and credit), and a hybrid system which combines both credit and allowance trading systems. The issues that impact municipalities include the debate regarding who owns the credits from landfills, particularly if power is generated using landfill gas and the power is sold as green power. Other viable questions were also addressed, including who can claim emission reduction credits if a city implements energy efficiency projects, or fuel substitution programs. Also, will municipalities be allowed to trade internationally, for example, with municipalities in the United States, and how should they spend their money earned from selling credits. This report also presents highlights from 3 emissions

The Effects of International Trade on Resource Misallocation : Trade Partner Matters (Replaced by CentER DP 2012-046)

NARCIS (Netherlands)

Curuk, M.

2011-01-01

This paper suggests that contingent on the productivity level of the trade partner; international trade may create resource misallocation in less productive countries. It theoretically shows how productivity spillovers induced by trade with more productive countries and heterogeneity in pro-

Putting a price on carbon. Econometric essays on the European Union emissions trading scheme and its impacts

Energy Technology Data Exchange (ETDEWEB)

Aatola, P.

2013-06-01

This dissertation examines the main instrument of the European Union climate policy, the emissions trading scheme (EU ETS) during its first years. Emission trading provides a cost-efficient way to reduce emissions. It creates a price on carbon dioxide and thereby incentives for cleaner production. The four empirical studies in this dissertation provide new information on the price determination in the emissions trading market, market efficiency and market interactions with the electricity markets. This information is useful for many purposes. It benefits the market participants who make choice between trading of emission allowances in the market and abatement of emissions. For the authorities and policy planners the price signal and the efficiency of the markets reveal unique real-time information on marginal abatement costs, impacts of policy decisions and impacts of institutional design of this policy instrument. To be a well-functioning policy instrument the EU ETS should create a credible price signal and efficient markets for trading allowances. The objective of this dissertation is to analyze the EU ETS markets and the price of the European Union emissions allowance, EUA, with econometric time series models. A large data set on market fundamentals is used to analyze the price series. The results of this dissertation reveal that EU ETS is functions well. Carbon has a price that reflects to a large extent the market fundamentals in the study period. The markets are maturing even if not fully informational efficient yet. Interactions with electricity markets are close. The impact of price of carbon on the price of electricity is positive but spatially uneven. In the long run, also climate change affects the electricity bill. The first study of this dissertation investigates the price determination in the market. The empirical results based on years 2005-2011 show that the price of the EUA is largely determined by the market fundamentals. Especially the price of

The electricity markets around the Baltic Sea

International Nuclear Information System (INIS)

1995-12-01

A thorough description of the electric power markets in the countries surrounding the Baltic sea is given in this book. Environmental problems and regulations and nuclear power are surveyed. Factors that may affect an expanded trade of electricity between the countries are analyzed

78 FR 36523 - Foreign-Trade Zone 84-Houston, Texas; Authorization of Production Activity; Toshiba International...

Science.gov (United States)

2013-06-18

... DEPARTMENT OF COMMERCE Foreign-Trade Zones Board [B-17-2013] Foreign-Trade Zone 84--Houston, Texas; Authorization of Production Activity; Toshiba International Corporation; (Hybrid Electric Vehicle Motors and Generators Production); Houston, Texas On February 11, 2013, the Port of Houston Authority, grantee of FTZ 84...

Effect of AC electric fields on flame spread over electrical wire

KAUST Repository

Kim, Minkuk

2011-01-01

The effect of electric fields on the characteristics of flame spread over insulated electrical wire has been investigated experimentally by varying AC voltage and frequency applied to the wire in the normal gravity condition. The polyethylene (PE) insulated electrical wire was placed horizontally on electrically non-conducting posts and one end of the wire was connected to the high voltage terminal. Thus, the electrical system is the single electrode configuration. The wire was ignited at one end and the flame spread rate along the wire has been measured from the images using a video camera. Two distinct regimes existed depending on the applied AC frequency. In the low frequency regime, the flame spread rate decreased with the frequency and voltage. While in the high frequency regime, it decreased initially with voltage and then increased. At high frequency, the spread rate was even over that without applying electric fields. This result implies that fire safety codes developed without considering the effect of electric fields may require modifications. © 2010 Published by Elsevier Inc. on behalf of The Combustion Institute. All rights reserved.

Electricity derivatives

CERN Document Server

Aïd, René

2015-01-01

Offering a concise but complete survey of the common features of the microstructure of electricity markets, this book describes the state of the art in the different proposed electricity price models for pricing derivatives and in the numerical methods used to price and hedge the most prominent derivatives in electricity markets, namely power plants and swings. The mathematical content of the book has intentionally been made light in order to concentrate on the main subject matter, avoiding fastidious computations. Wherever possible, the models are illustrated by diagrams. The book should allow prospective researchers in the field of electricity derivatives to focus on the actual difficulties associated with the subject. It should also offer a brief but exhaustive overview of the latest techniques used by financial engineers in energy utilities and energy trading desks.

Trade Integration and Trade Imbalances in the European Union: A Network Perspective

Science.gov (United States)

Krings, Gautier M.; Carpantier, Jean-François; Delvenne, Jean-Charles

2014-01-01

We study the ever more integrated and ever more unbalanced trade relationships between European countries. To better capture the complexity of economic networks, we propose two global measures that assess the trade integration and the trade imbalances of the European countries. These measures are the network (or indirect) counterparts to traditional (or direct) measures such as the trade-to-GDP (Gross Domestic Product) and trade deficit-to-GDP ratios. Our indirect tools account for the European inter-country trade structure and follow (i) a decomposition of the global trade flow into elementary flows that highlight the long-range dependencies between exporting and importing economies and (ii) the commute-time distance for trade integration, which measures the impact of a perturbation in the economy of a country on another country, possibly through intermediate partners by domino effect. Our application addresses the impact of the launch of the Euro. We find that the indirect imbalance measures better identify the countries ultimately bearing deficits and surpluses, by neutralizing the impact of trade transit countries, such as the Netherlands. Among others, we find that ultimate surpluses of Germany are quite concentrated in only three partners. We also show that for some countries, the direct and indirect measures of trade integration diverge, thereby revealing that these countries (e.g. Greece and Portugal) trade to a smaller extent with countries considered as central in the European Union network. PMID:24465381

Trade integration and trade imbalances in the European Union: a network perspective.

Science.gov (United States)

Krings, Gautier M; Carpantier, Jean-François; Delvenne, Jean-Charles

2014-01-01

We study the ever more integrated and ever more unbalanced trade relationships between European countries. To better capture the complexity of economic networks, we propose two global measures that assess the trade integration and the trade imbalances of the European countries. These measures are the network (or indirect) counterparts to traditional (or direct) measures such as the trade-to-GDP (Gross Domestic Product) and trade deficit-to-GDP ratios. Our indirect tools account for the European inter-country trade structure and follow (i) a decomposition of the global trade flow into elementary flows that highlight the long-range dependencies between exporting and importing economies and (ii) the commute-time distance for trade integration, which measures the impact of a perturbation in the economy of a country on another country, possibly through intermediate partners by domino effect. Our application addresses the impact of the launch of the Euro. We find that the indirect imbalance measures better identify the countries ultimately bearing deficits and surpluses, by neutralizing the impact of trade transit countries, such as the Netherlands. Among others, we find that ultimate surpluses of Germany are quite concentrated in only three partners. We also show that for some countries, the direct and indirect measures of trade integration diverge, thereby revealing that these countries (e.g. Greece and Portugal) trade to a smaller extent with countries considered as central in the European Union network.

TRADE, REVENUE AND WELFARE EFFECTS UNDER AN ECONOMIC PARTNERSHIP AGREEMENT BETWEEN BURKINA FASO AND THE EUROPEAN UNION

Directory of Open Access Journals (Sweden)

G.O. Onogwu

2013-02-01

Full Text Available This study estimates the impact on Burkina Faso of eliminating tariffs on imports from the EU under EPAs, considering trade, revenue and welfare effects. At complete elimination of tariffs on all products imports from trade classification sections (TDC 01-13 from the EU. Burkina Faso is likely to experience both welfare gains and losses depending on the values of imports of each trade classification section in question. The overall welfare effect relative to GDP tends to be very small and positive, but potential tariff revenue losses are enormous even when the country has up to fifteen - twenty-five years in which to implement the tariff reductions, unless with scope for tax substitution. EPAs effects are concentrated on those product sections where trade creation outweighs trade diversion such as Animal products, Vegetable products, Animal/Veg. products, Mineral products, and Textiles products. Besides, product sections with the greatest market opportunities for EU suppliers to displace any of the other suppliers, ECOWAS and/or ROW include sections where trade diversion outweighs trade creation effects, such as prepared foodstuffs, product of chemicals, plastics, raw hides & skin, etc. The sensitive products (SPs to be excluded from tariff removal should include sections in which ECOWAS member nations are suppliers to regional importers so that excluding them as SPs would improve the welfare gain compared to estimates where tariff are removed from those products in which ECOWAS have zero potential. The results at this level of aggregation will provide useful information to the on-going negotiations between ECOWAS and the EU in determining Burkinabe's products to be exempted from tariff removal during EPAs based on the severity of the effects on varied trade classification (TDC sections, among other considerations.

A market for green certificates may cause less green electricity to be produced

International Nuclear Information System (INIS)

Haugneland, Petter

2004-01-01

The Norwegian government wants to establish in 2006 a market for trading with green certificates which will be issued to producers of new renewable electricity. These certificates will be sold to the consumers, which will be instructed to by a certain amount of green electricity. In 2005 a market will be established for trading with emission quotas of greenhouse gases; in this market, power producers and other industry that emits greenhouse gases must buy emission permits. Some experts, however, say that a market for trading with green certificates may at worst give less production of green electricity, counter to the intention. But a quota system may indirectly increase the production of green electricity, and at the same time one avoids many of the inconveniences involved in a green certificate market

Highlights from the Electricity Sector Council's powerline technician project

Energy Technology Data Exchange (ETDEWEB)

NONE

2009-05-15

The Electricity Sector Council completed a situational analysis of the powerline technician trade in Canada in April 2008. The purpose of the study was to provide industry partners with the opportunity to provide input into the development of the powerline trade; to assess the current workforce; to examine training and working conditions based on in-depth focus group interviews; and to demonstrate regional and provincial differences in apprenticeship development. This report presented highlights from the Electricity Sector Council's powerline technician project. Specifically, the report discussed the number of powerline apprentices entering the trade; regional differences in the powerline trade; and emerging practices for recruitment, retention, and training. Recommendations were also offered in order to address the challenges faced by the powerline trade. It was concluded that the best ways to recruit candidates in the powerline technician trade are to invest in a word-of mouth campaign, such as a coaching program; encourage early introduction to the trades through job sampling; offer financial incentives; and invest in outreach programs. 4 figs.

Cocoa Farmers' Perception of the Effect of World Trade ...

African Journals Online (AJOL)

The study examined the perception of cocoa farmers of the effect of the standards of the World Trade Organisation on cocoa production in Ondo State, Nigeria. Simple random sampling technique was used to select farmers in the area covered by the project and primary data were collected through the use of a structured ...

The effect of the Fukushima accident on the electricity production and consumption in Japan

International Nuclear Information System (INIS)

Livet, Frederic

2013-01-01

Based on statistics of the Japanese electricity production and consumption, the author analyses their evolution from 2008 to 2013 in order to study the influence of the Fukushima accident. If nuclear production fell down from its 25 per cent share, electricity consumption remained almost steady, in spite of Government calls for its reduction. This loss of nuclear production has been balanced by an increased use of fossil fuels (coal, oil products, and natural gas). The author also comments the evolution of CO 2 emissions which therefore increased after the accident, and the impact of these evolutions on the Japanese trade balance

Pollution added credit trading (PACT). New dimensions in emissions trading

International Nuclear Information System (INIS)

Schaltegger, Stefan; Thomas, Tom

1996-01-01

To date, sources of hazardous, toxic, or otherwise harmful emissions have been regulated on a pollutant by pollutant basis. Environmental policies, even the more advanced 'incentive-based' programs, have focused on individual substances rather than on the overall environmental problem to which the substances contribute. This has produced results that are less economically efficient and ecologically effective than is desirable. A more comprehensive approach combines the principles of emission reduction credit trading with advances made recently in the field of environmental impact assessment, to yield an advanced form of inter-pollutant trading, which we refer to as pollution added credit trading (PACT). PACT incorporates a method for estimating the total environmental harm generated (pollution added) by a facility emitting a variety of pollutants. Weightings that reflect relative harm are used to calculate total pollution added. Each facility covered by PACT would receive annual allowances for total pollution added that they could discharge to the environment. As with existing emissions trading programs, surplus allowances could be sold and shortfalls would be covered by purchasing other facilities' surplus allowances. PACT is more efficient than single-pollutant emissions trading in that it captures differences in marginal reduction costs that exist between pollutants as well as between facilities. It is more ecologically effective because it focuses on the overall environmental problem, rather than on the individual pollutants that contribute to the problem

Electric power: the liberalization effects

International Nuclear Information System (INIS)

Carpentier, J.

1999-01-01

Nine months after the beginning of the deregulation of electric power markets in Europe, the first effects are being felt: fall of prices, amalgamation of electric power companies, development of new technologies and unemployment. (O.M.)

Multivariate Granger causality between electricity generation, exports, prices and GDP in Malaysia

International Nuclear Information System (INIS)

Lean, Hooi Hooi; Smyth, Russell

2010-01-01

This paper employs annual data for Malaysia from 1970 to 2008 to examine the causal relationship between economic growth, electricity generation, exports and prices in a multivariate model. We find that there is unidirectional Granger causality running from economic growth to electricity generation. However, neither the export-led nor handmaiden theories of trade are supported and there is no causal relationship between prices and economic growth. The policy implication of this result is that electricity conservation policies, including efficiency improvement measures and demand management policies, which are designed to reduce the wastage of electricity and curtail generation can be implemented without having an adverse effect on Malaysia's economic growth. (author)

Classic nuclear fuel trading and new ways of doing business

International Nuclear Information System (INIS)

Lohrey, K.; Max, A.

2001-01-01

Nuclear fuel trading is a complex, dynamic, and innovative business segment. After the end of the East-West conflict in the early nineties it began to assume global dimensions. Yet, the volume of the nuclear fuel market is relatively small: In 2000, natural uranium worth approx. euro 1.2 billion was produced, and the value of the fuel freshly loaded in nuclear power plants amounted to approx. euro 8.0 billion. For comparison: The crude oil produced worldwide in that same year had a market value of approx. euro 715 billion. As a consequence of the strategic importance of uranium in the military sector, processing and using it as a nuclear fuel as well as trading it are subject to political influences. This also applies to the recycling of weapon-grade nuclear material into the civilian nuclear fuel cycle, which is already being practiced on an industrial scale. The deregulation of the electricity markets and the resultant cost pressure on electricity producers have initiated major changes in the nuclear fuel market. On the supply side, there is more and more concentration on a few large producers and trading companies. On the demand side, especially in the United States of America, more and more nuclear power plant operators merge into bigger enterprises with a considerable demand potential. Electronic trading over the Internet is going to supplement conventional trading in nuclear fuels, but is not going to replace it. The relatively small volume of the nuclear fuel market, the small number both of transactions and of active market participants, as well as individual wishes of customers, make it likely that electronic trading will remain restricted to a few market segments with standardized products. (orig.)

Environmental challenges and opportunities of the evolving North American electricity market

International Nuclear Information System (INIS)

2002-06-01

On April 22, 2001 a joint statement was issued by the Prime Minister of Canada, the Mexican President and the United States President concerning the opportunities for North American cooperation on environment and energy. Efforts are being made by representatives from the three countries to find innovative approaches for expanding the production, distribution and trade in energy, including electricity. Competition in the electricity sector has either been implemented or is under consideration in several jurisdictions within the three countries. The designs of electricity markets that would deliver affordable and reliable electricity in the region are being explored to protect the health and environment of citizens and their neighbours. Fuel choice, technology, pollution control strategies and subsidies are factors that are directly influenced by policy measures. Achieving the twin goals of clean and abundant electricity is dependent on the degree of coordinated interaction between the three countries. To prepare this report, members of the Commission for Environmental Cooperation (CEC) of North America Electricity and Environment Advisory Board, governments and the general public reviewed and exchanged on key policy issues related to market integration in the electricity sector. Convergence in competitiveness and trade policy is underway in those countries. Secure health and environmental safety nets are called for in the face of uncertainties concerning several characteristics of the electricity sector, such as planned and future generation capacity and location, demand, fuel type and technology. Measures designed to reduce adverse environmental effects might result in efficient and effective regional initiatives generating resources to be used in protection and conservation of the environment. Access to information, environmental impact assessment and integrated resource planning could all be enhanced through cooperation by the three countries on the policy front

Anonymous electronic trading versus floor trading

OpenAIRE

Franke, Günter; Hess, Dieter

1995-01-01

This paper compares the attractiveness of floor trading and anonymous electronic trading systems. It is argued that in times of low information intensity the insight into the order book of the electronic trading system provides more valuable information than floor trading, but in times of high information intensity the reverse is true. Thus, the electronic system's market share in trading activity should decline in times of high information intensity. This hypothesis is tested by data on BUND...

Market Survey Turkey. Electricity Market

International Nuclear Information System (INIS)

2008-12-01

The present market survey presents the Turkish power market and derives business opportunities and prospects for Dutch trade and industry. This market survey has been carried out for the following four, from time to time overlapping, sectors that have been identified by EVD as potential opportunities for Dutch small and medium-sized enterprises (SME): renewable energy, energy efficiency, electricity generation, electricity distribution

French electric power balance sheet 2009

International Nuclear Information System (INIS)

Lartigau, Thierry; Riere, Alexia

2010-01-01

The mission of RTE, the French electricity Transportation grid, a public service assignment, is to balance the electricity supply and demand in real time. This report presents RTE's technical results for the year 2009: key figures of the French electricity consumption, lowering of the French power generation, decrease of trade balance at borders but still positive, continuation of RTE's investments for the improvement of the grid performance. New RTE's infrastructures, electricity quality data, and the evolution of market mechanisms are presented in appendixes

Design limitations in Australian renewable electricity policies

International Nuclear Information System (INIS)

Buckman, Greg; Diesendorf, Mark

2010-01-01

Renewable electricity is pivotal to the medium and long-term reduction of Australia's greenhouse gas (GHG) emissions, if deep cuts in them are eventually implemented. This paper examines the effectiveness of the principal existing policies that could potentially promote the expansion of renewable electricity (RElec) in Australia: the expanded Renewable Energy Target (RET); the proposed emissions trading scheme (ETS); and the state and territory-based feed-in tariffs. We find the effectiveness of RET is severely eroded by the inclusion of solar and heat pump hot water systems; by the inclusion of 'phantom' tradable certificates; and by high electricity consumption growth. We also find that the ETS will not produce a high enough carbon price to assist most RElec technologies before 2020; and that most of the feed-in tariffs exclude large-scale RElec and will give little assistance to small-scale RElec because they are mostly net tariffs. Unless there is a major revision of its RElec policy mechanisms, Australia will fail to reach its renewable electricity target and in particular will fail to build up its solar generation capacity which could be a major source of future deep cuts in the country's electricity generation emissions.

A strategic review of electricity systems models

International Nuclear Information System (INIS)

Foley, A.M.; O Gallachoir, B.P.; McKeogh, E.J.; Hur, J.; Baldick, R.

2010-01-01

Electricity systems models are software tools used to manage electricity demand and the electricity systems, to trade electricity and for generation expansion planning purposes. Various portfolios and scenarios are modelled in order to compare the effects of decision making in policy and on business development plans in electricity systems so as to best advise governments and industry on the least cost economic and environmental approach to electricity supply, while maintaining a secure supply of sufficient quality electricity. The modelling techniques developed to study vertically integrated state monopolies are now applied in liberalised markets where the issues and constraints are more complex. This paper reviews the changing role of electricity systems modelling in a strategic manner, focussing on the modelling response to key developments, the move away from monopoly towards liberalised market regimes and the increasing complexity brought about by policy targets for renewable energy and emissions. The paper provides an overview of electricity systems modelling techniques, discusses a number of key proprietary electricity systems models used in the USA and Europe and provides an information resource to the electricity analyst not currently readily available in the literature on the choice of model to investigate different aspects of the electricity system. (author)

The Effect of Exchange Rate Fluctuations on a Trade Balance, the case of Russia.

OpenAIRE

Masliukova, Tatiana

2014-01-01

This thesis examines the impact of exchange rate fluctuation on trade balance. In order to examine the effect of depreciation of domestic currency on the trade balance, the data for Russian Federation was used. The time series analysis includes quarterly data since 2000 till 2014. With help of cointegration model it was concluded that there is a long-term dependence between exchange rate and trade balance. Regression results suggest that the impact of depreciation of national currency on trad...

Stumbling Forward on Trade: The Doha Round, Free Trade Agreements, and Canada

OpenAIRE

Matthew B. Adler

2008-01-01

Before continuing a headlong rush to form free trade agreements with partners around the globe, Ottawa should pause to consider the effects of a web of FTAs. Matthew B. Adler argues that FTAs tend to interfere with multilateral trade negotiations, which potentially would deliver broader benefits.

Terms of trade effects on PPP and incomes of primary-commodity exporting countries

OpenAIRE

Koya, Sharmistha N.

1994-01-01

This dissertation investigates the commodity currency argument of primary and secondary effects of the terms of trade on exchange rates and real income, respectively. The Johansen procedure of cointegration testing is applied to dynamic models for a set of four developed countries (New Zealand, Australia, Norway and Iceland) and five less developed countries (Colombia, India, Malaysia, Thailand and Venezuela) each against it's major trading partner and the United States. The ...

Electric power balance sheet 2012

International Nuclear Information System (INIS)

2013-01-01

The mission of RTE, the French electricity Transportation grid, a public service assignment, is to balance the electricity supply and demand in real time. This report presents RTE's technical results for the year 2012: strong seasonal contrast of power consumption, rise of the renewable energies contribution in meeting the electricity demand, slight decay of the nuclear and thermal power generation, decrease of the export balance and change in trades structure, adaptation of RTE's network to the evolutions of the energy system

Insight conference proceedings : Ontario energy contracts 2005 : giving your company's energy trading the power it needs

International Nuclear Information System (INIS)

2005-01-01

This conference provided a forum for discussing energy contracts in relation to energy trading. Issues concerning fixed priced electricity contracts and recent changes in the energy market were reviewed. Price procurement and interjurisdictional trading were examined. The role of the Independent Electricity System Operator (IESO) in the monitoring and procurement of energy contracts was evaluated. Various procurement strategies were discussed with reference to large institutions and industrial consumers. New regulatory developments relating to energy contracts in Ontario were reviewed and the emergence of demand side management as a commodity in the Ontario electricity market was discussed. Recent developments in the United States were examined in relation to Ontario's electricity sector. The conference featured 14 presentations, of which 1 has been catalogued separately for inclusion in this database. tabs., figs

Risk management of power supply in open electricity market

International Nuclear Information System (INIS)

Rinta-Runsala, E.; Kiviniemi, J.

1999-12-01

The open electricity market has increased the need of risk management in electric utilities. In this publication the concepts of risk assessment and measures mostly concentrating on market risks for power supply companies are reported. An essential past of the risk management includes the electricity derivates and trade

Trading our health: Ontario Power Generation's plan to violate its air pollution reduction commitment

International Nuclear Information System (INIS)

Gibbons, J.; Bjorkquist, S.

1999-01-01

Amid growing concerns about nitrogen oxide (Nox) emissions, the Ontario Clean Air Alliance is recommending in this report that the Ontario government restrict Nox emissions from Ontario Power Generation (OPG) in the year 2000 and not let the corporation meet its emissions cap by on a net basis by retiring Pilot Emission Reduction Trading (PERT) Nox emission reduction credits. Instead the alliance believes the Ontario government should require OPG to achieve emissions compliance by curtailing coal-fired electricity exports, purchasing renewable and natural-gas electricity and promoting energy efficiency. OPG's inventory of PERT Nox reduction credits are assessed against whether they will cause an increase in the year 2000 as a result of trading. Ontario Power Generation's Nox emissions are a central chemical component of acid rain and smog and are produced from its coal-fired electricity generators. The utility would like to achieve Nox reductions by establishing demand management programs which would reduce the demand for electricity by 5200 megawatts (MW), by purchasing 3100 MW of non-utility generation and by undertaking combustion process modifications at its Lambton and Nanticoke coal-fired generating stations. It has not met its 2000 demand management and non-utility generation targets, and specifically, as of December 31, 1998, Ontario Hydro's successor companies demand management programs have only reduced electricity demand by approximately 1300 MW. Furthermore, the successor companies will have only approximately 1700 MW of non-utility generation capacity under contract by December 31, 1999. The report describes the criteria for ensuring that Nox emissions trading will not lead to a net increase in Ontario's emissions in any given year, and a description is included of why the 'Draft Rules for Emission Trading in Ontario' rules do not meet these criteria. Permitting OPG to use its PERT credits to meet its Nox cap, will allow them to increase coal

77 FR 16537 - Approval for Expansion of Manufacturing Authority, Foreign-Trade Subzone 78A, Nissan North...

Science.gov (United States)

2012-03-21

... DEPARTMENT OF COMMERCE Foreign-Trade Zones Board [Order No. 1820] Approval for Expansion of Manufacturing Authority, Foreign-Trade Subzone 78A, Nissan North America, Inc. (Electric Passenger Vehicles..., Nissan North America, Inc. (NNA), operator of Subzone 78A, at the NNA manufacturing facilities in Smyrna...

Electricity in a Climate-Constrained World

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-07-01

After experiencing a historic drop in 2009, electricity generation reached a record high in 2010, confirming the close linkage between economic growth and electricity usage. Unfortunately, CO2 emissions from electricity have also resumed their growth: Electricity remains the single-largest source of CO2 emissions from energy, with 11.7 billion tonnes of CO2 released in 2010. The imperative to 'decarbonise' electricity and improve end-use efficiency remains essential to the global fight against climate change. The IEA’s Electricity in a Climate-Constrained World provides an authoritative resource on progress to date in this area, including statistics related to CO2 and the electricity sector across ten regions of the world (supply, end-use and capacity additions). It also presents topical analyses on the challenge of rapidly curbing CO2 emissions from electricity. Looking at policy instruments, it focuses on emissions trading in China, using energy efficiency to manage electricity supply crises and combining policy instruments for effective CO2 reductions. On regulatory issues, it asks whether deregulation can deliver decarbonisation and assesses the role of state-owned enterprises in emerging economies. And from technology perspectives, it explores the rise of new end-uses, the role of electricity storage, biomass use in Brazil, and the potential of carbon capture and storage for ‘negative emissions’ electricity supply.

Trade Liberalization between Russia and East Asian Countries

Directory of Open Access Journals (Sweden)

Dmitriy Aleksandrovich Izotov

2015-12-01

Full Text Available Based on the international statistics data the author estimates effects of trade liberalization between Russia and East Asian countries. The prospective niche markets in mutual trade and the impact of trade liberalization on the national economies were identified. Using a partial equilibrium model the author indicates the following positive trade effects for Russia and East Asia: trade creation effect prevails over trade diversion effect; general welfare and mutual trade of the countries tend to increase. The Russian economy has positive trade effects with all the East Asian countries, with the highest scale in the case of Sino-Russian trade. At the same time trade liberalization has following some costs for the Russian economy: a the growing role of imports, mostly from China, compared to Russian exports; b reduction of tariff revenues, which are four times higher for Russia, compared to East Asian countries; c continued negative trade balance with the East Asian countries. The evaluation shows that the increase of Russian exports to East Asian countries is feasible only for certain commodity groups which determine marketable niches of specific East Asian countries; at the same time, Russia can import from East Asia a huge range of commodity groups. The study reveals that reduction in tariff measures and non- tariff restrictions will not lead to a massive increase in Russian exports and changing in its trade and geographical structure. On the basis of prolongation of short-term trends the author identifies long-term challenges and opportunities for the Russian economy from trade liberalization with East Asian countries. According to the estimation results, the author suggests that in the current environment of global trade liberalization the tariff measures become less significant as a tool for redistribution of commodity flows

Social networks and trade of services: modelling interregional flows with spatial and network autocorrelation effects

Science.gov (United States)

de la Mata, Tamara; Llano, Carlos

2013-07-01

Recent literature on border effect has fostered research on informal barriers to trade and the role played by network dependencies. In relation to social networks, it has been shown that intensity of trade in goods is positively correlated with migration flows between pairs of countries/regions. In this article, we investigate whether such a relation also holds for interregional trade of services. We also consider whether interregional trade flows in services linked with tourism exhibit spatial and/or social network dependence. Conventional empirical gravity models assume the magnitude of bilateral flows between regions is independent of flows to/from regions located nearby in space, or flows to/from regions related through social/cultural/ethic network connections. With this aim, we provide estimates from a set of gravity models showing evidence of statistically significant spatial and network (demographic) dependence in the bilateral flows of the trade of services considered. The analysis has been applied to the Spanish intra- and interregional monetary flows of services from the accommodation, restaurants and travel agencies for the period 2000-2009, using alternative datasets for the migration stocks and definitions of network effects.

Prices on electricity and transmission of electricity

International Nuclear Information System (INIS)

2003-01-01

This publication contains data on prices of electric energy and transmission of electricity valid from 1 January 2003. The purpose is to illustrate the price changes on the electricity market in terms of prices for different customer categories. All companies holding network concessions for areas and all companies trading in electricity are included in this report, which is produced on an annual basis.The prices for transmission services 1 January 2003 were on the whole unchanged compared to the preceding year. For households the mean annual cost was SEK 882 for flats, SEK 4 335 for one- or two-family houses with electric heating and SEK 1 925 for those without electric heating. Electricity prices rose considerably on 1 January 2003 compared to the year before. The mean price per kWh for households with standard agreements was SEK 0.519 for deliveries to flats, SEK 0.447 for one- or two-family houses with electric heating and SEK 0.471 without electric heating. As a result, the mean annual cost increased by SEK 326 for flats, SEK 3 012 for one- or two-family houses with electric heating, and by SEK 774 for those houses without electric heating. The high costs of electricity may be explained in part by the development on the Nordic Power Exchange (Nord Pool), where the spot price increased by about 290 per cent during 2002 (1 USD is about 8 SEK)

A multi-lateral trading model for coupled gas-heat-power energy networks

International Nuclear Information System (INIS)

Chen, Yue; Wei, Wei; Liu, Feng; Mei, Shengwei

2017-01-01

Highlights: •Optimal energy flows in the gas, heat, and power systems are modeled in detail. •A multi-lateral trading model for the coupled energy markets is proposed. •A two-phase algorithm for computing the market equilibrium. •Case studies demonstrate that market competition pilots reasonable energy prices. -- Abstract: The proliferation of cogeneration technology and the need for more resilient energy utilization inspire the emerging trend of integration of multi-resource energy systems, in which natural gas, heat, and electricity are produced, delivered, converted, and distributed more efficiently and flexibly. The increasing interactions and interdependencies across heterogenous physical networks impose remarkable challenges on the operation and market organization. This paper envisions the market trading scheme in the network-coupled natural gas system, district heating system, and power system. Based on the physical energy flow models of each system and their interdependency, a multi-lateral trading gas-heat-power (MLT-GHP) model is suggested, and a mixed-integer linear programming based two-phase algorithm is developed to find the market equilibrium. Case studies on two testing systems demonstrate the effectiveness of the proposed model and method, showing that the multi-lateral trading essentially results in market competition that orientates reasonable energy prices. Some prospects for future researches are also summarized.

Developments in international bioenergy trade

International Nuclear Information System (INIS)

Junginger, Martin; Faaij, Andre; Wit, Marc de; Bolkesjoe, Torjus; Bradley, Douglas; Dolzan, Paulo; Piacente, Erik; Walter, Arnaldo da Silva; Heinimoe, Jussi; Hektor, Bo; Leistad, Oeyvind; Ling, Erik; Perry, Miles; Rosillo-Calle, Frank; Ryckmans, Yves; Schouwenberg, Peter-Paul; Solberg, Birger; Troemborg, Erik

2008-01-01

The aim of this paper is to present a synthesis of the main developments and drivers of international bioenergy trade in IEA Bioenergy Task 40 member countries, based on various country reports written by Task 40 members. Special attention is given to pellet and ethanol trade. In many European countries such as Belgium, Finland, the Netherlands, Sweden and the UK, imported biomass contributes already significantly (between 21% and 43%) to total biomass use. Wood pellets are currently exported by Canada, Finland and (to a small extent) Brazil and Norway, and imported by Sweden, Belgium, the Netherlands, and the UK. In the Netherlands and Belgium, pellet imports nowadays contribute to a major share to total renewable electricity production. Trade in bio-ethanol is another example of a rapidly growing international market. With the EU-wide target of 5.75% biofuels for transportation in 2010 (and 10% in 2020), exports from Brazil and other countries to Europe are likely to rise as well. Major drivers for international bioenergy trade in general are the large resource potentials and relatively low production costs in producing countries such as Canada and Brazil, and high fossil fuel prices and various policy incentives to stimulate biomass use in importing countries. However, the logistic infrastructure both in exporting and importing countries needs to be developed to access larger physical biomass volumes and to reach other (i.e. smaller) end-consumers. It is concluded that international bioenergy trade is growing rapidly, far beyond what was deemed possible only a few years ago, and may in the future in some Task 40 countries surpass domestic biomass use, especially for specific applications (e.g. transport fuels). (author)

Restructuring the Electricity Industry

DEFF Research Database (Denmark)

Boom, Anette; Buehler, Stefan

We study the role of vertical structure in determining generating capacities and retail prices in the electricity industry. Allowing for uncertain demand, we compare three market configurations: (i) integrated monopoly, (ii) integrated duopoly with wholesale trade, and (iii) separated duopoly wit...

MEASURING THE INFLUENCE OF THE J-CURVE EFFECT ON TRADE IN ROMANIAN FOREST PRODUCTS

Directory of Open Access Journals (Sweden)

Gabriela TUTUEANU

2015-08-01

Full Text Available This paper examines the dynamic effect of the Romanian exchange rate  indices on bilateral trade of Romanian forest products namely fibreboard, particle   board and pulp for paper. Special attention is given to investigate the J-curve hypothesis: whether the trade  balance  for   Romanian   forest   products benefits   from a decline in the  value  of  Romanian Leu (RON. We adopted the autoregressive distributed lag (ARDL approach   to cointegration to estimate the annual bilateral trade data of Romanian forest products  from  1991 to  2013 with various  countries  in the  world. We found  no evidence  of the J-curve  phenomenon for  the  trade in Romanian forest products. The  long-run   analysis   showed the exchange rate  to  be insignificant  in  influencing   the  trade   balance  of  Romanian forest products. This  implies  that  there  are  no changes  in the  trade   balance  for fibreboard, particle board and pulp for paper trade, regardless of whether the Romanian   exchange rate depreciates or appreciates. However, income variables were found to be important factors in determining Romanian trade, only in pulp for paper products.

Trade linkages and macroeconomic effects of the price of oil

International Nuclear Information System (INIS)

Korhonen, Iikka; Ledyaeva, Svetlana

2010-01-01

In this paper we assess the impact of oil price shocks on oil-producer and oil-consuming economies. VAR models for different countries are linked together via a trade matrix, as in Abeysinghe (2001). As expected, we find that oil producers (here, Russia and Canada) benefit from oil price shocks. For example, a large oil shock leading to a price increase of 50% boosts Russian GDP by about 6%. However, oil producers are hurt by indirect effects of positive oil price shocks, as economic activity in their exporter countries suffers. For oil consumers, the effects are more diverse. In some countries, output falls in response to an oil price shock, while other countries seem to be relatively immune to oil price changes. Finally, indirect effects are also detected for oil-consumer countries. Those countries, which trade more with oil producers, gain indirect benefits via higher demand from oil-producing countries. In general, the largest negative total effects from positive oil price shocks are found for Japan, China, the USA, Finland and Switzerland, while other countries in our sample seem to have fared quite well during recent positive oil price shocks. The indirect effects are negative for Russia, Finland, Germany and Netherlands. (author)

Understanding the side effects of emission trading: implications for waste management.

Science.gov (United States)

Braschel, Nina; Posch, Alfred; Pierer, Magdalena

2014-01-01

The trading of emission allowances is an important market instrument in climate policy. However, the inclusion of certain branches of industry in the trading system not only provides incentives for emission reduction, it also entails unwanted side effects. Thus, the objective of the present study is to identify such side effects-positive and negative-by examining the potential impact of waste management inclusion in the European Union Emissions Trading Scheme (EU ETS). Desk research was supplemented with qualitative and quantitative empirical analysis (based on expert interviews and a questionnaire) in order to analyse the related perceptions and expectations of actors and stakeholders. The impact of waste management inclusion in the EU ETS is analysed in terms of the following three areas: (i) costs and cost pass-through, (ii), competitiveness and market position, and (iii) carbon leakage. Concerning expectations in the area of costs, both the interviewed experts and the practitioners surveyed thought that costs were likely to increase or that they could be passed on to customers. However, experts and practitioners differed with respect to the possibility of carbon leakage. Clearly, increased knowledge of the possible impact arising from inclusion of the waste sector in the EU ETS would enable managers to become more proactive and to manage waste streams and treatment options more economically.

An options model for electric power markets

International Nuclear Information System (INIS)

Ghosh, Kanchan; Ramesh, V.C.

1997-01-01

The international electric utility industry is undergoing a radical transformation from an essentially regulated and monopolistic industry to an industry made uncertain with impending deregulation and the advent of competitive forces. This paper investigates the development of an options market for bulk power trading in a market setup while considering power system planning and operational constraints and/or requirements. In so doing it considers the different market based financial derivative instruments while can be used to trade electrical power in bulk and examines how established tools such as Optimal Power Flow (OPF) may be applied in helping to develop a price for bulk power transactions under a market based setup. (Author)

Question marks concerning CO2 trade after 2012

International Nuclear Information System (INIS)

Wellander, Dag

2006-01-01

Different aspects of the Kyoto protocol are discussed, from the (in)significance of the Kyoto protocol, the inefficiency of the CO 2 trade system, to questions about how electricity prices will be affected in the EU, and what will be the solution in the future when the Kyoto agreement ends in 2012

National Versus International Mergers and Trade Liberalization

OpenAIRE

Yildiz, Halis Murat

2003-01-01

This paper uses an endogenous merger formation approach in a concentrated international oligopoly to examine the effects of trade liberalization on the nature of merger incentives (national vs. international). The effects of unilateral trade liberalization on a country’s industry structure are found to be depending on the other country’s trade policy regime. If the other country practices free trade, unilateral liberalization by a country yields international mergers whereas if it practices a...

THE EFFECT OF EXCHANGE RATE VOLATILITY ON WHEAT TRADE WORLDWIDE

OpenAIRE

Sun, Changyou; Kim, Mina; Koo, Won W.; Cho, Guedae; Jin, Hyun Joung

2002-01-01

A modified gravity-type model was employed to evaluate the effect of exchange rate volatility on wheat exports worldwide. Special attention was given to the econometric properties of the gravity model within panel framework. Short and long-term measures of exchange rate volatility were constructed and compared. Both measures of exchange rate volatility have exhibited a negative effect on world wheat trade and the long-term effect was even larger. This result implies that exchange rate volatil...

BP's emissions trading system

International Nuclear Information System (INIS)

Victor, David G.; House, Joshua C.

2006-01-01

Between 1998 and 2001, BP reduced its emissions of greenhouse gases by more than 10%. BP's success in cutting emissions is often equated with its use of an apparently market-based emissions trading program. However no independent study has ever examined the rules and operation of BP's system and the incentives acting on managers to reduce emissions. We use interviews with key managers and with traders in several critical business units to explore the bound of BP's success with emissions trading. No money actually changed hands when permits were traded, and the main effect of the program was to create awareness of money-saving emission controls rather than strong price incentives. We show that the trading system did not operate like a 'textbook' cap and trade scheme. Rather, the BP system operated much like a 'safety valve' trading system, where managers let the market function until the cost of doing so surpassed what the company was willing to tolerate

Measuring the Information Content of Stock Trades.

OpenAIRE

Hasbrouck, Joel

1991-01-01

This paper suggests that the interactions of security trades and quote revisions be modeled as a vector autoregressive system. Within this framework, a trade's information effect may be meaningfully measured as the ultimate price impact of the trade innovation. Estimates for a sample of NYSE issues suggest a trade's full price impact arrives only with a protracted lag; the impact is a positive and concave function of the trade size; large trades cause the spread to widen; trades occurring in ...