WorldWideScience

Sample records for energy market model

  1. Model of Nordic energy market

    International Nuclear Information System (INIS)

    Gjelsvik, E.; Johnsen, T.; Mysen, H.T.

    1992-01-01

    Simulation results are given of the consumption of electricity and oil in Denmark, Norway and Sweden based on the demand section of a Nordic energy market model which is in the process of being developed in Oslo under the auspices of the Nordic Council of Ministers. The model incorporates supply, and trade between countries so that it can be analyzed how trading can contribute to goals within energy and environmental policies and to cost effective activities aimed at reducing pollution. The article deals in some detail with the subject of how taxation on carbon dioxide emission can influence pollution abatement and with energy consumption development within individual sectors in individual Northern countries. The model of energy demand is described with emphasis on the individual sectors of industry, transport, service and private households. Simulation results giving the effects of energy consumption and increased taxation on fossil fuels are given. On this background the consequences of the adaption of power plants is discussed and a sketch is given of a Nordic electric power market incorporating trading. (AB) (15 refs.)

  2. Solar energy market penetration models - Science or number mysticism

    Science.gov (United States)

    Warren, E. H., Jr.

    1980-01-01

    The forecast market potential of a solar technology is an important factor determining its R&D funding. Since solar energy market penetration models are the method used to forecast market potential, they have a pivotal role in a solar technology's development. This paper critiques the applicability of the most common solar energy market penetration models. It is argued that the assumptions underlying the foundations of rigorously developed models, or the absence of a reasonable foundation for the remaining models, restrict their applicability.

  3. Impact of Germany's energy transition on the Nordic power market – A market-based multi-region energy system model

    International Nuclear Information System (INIS)

    Zakeri, Behnam; Virasjoki, Vilma; Syri, Sanna; Connolly, David; Mathiesen, Brian V.; Welsch, Manuel

    2016-01-01

    The EU energy policy aims at creating a single European electricity market through market couplings and grid expansions. To analyse the implications of such power market couplings, we propose a market-based multi-region energy system model. The model simulates a multi-region power market (by applying market optimization and network theory), with detailed representation of each region as an energy system (by simulation of both heat and power sectors). We examine the impact of further integration of variable renewable energy (VRE) in Germany on the Nordic power market. The results indicate that the average electricity price slightly grows in the Nordic power market after Germany's Energy Transition (Energiewende). Hence, the economic surplus of Nordic consumers diminishes while Nordic producers improve their gain under new market conditions. Considering the gird congestion income, the overall system-level benefits (social welfare) will improve in the Nordic region after Germany's Energiewende. However, this gain is not equally distributed among different Nordic countries and across different stakeholders. Furthermore, the Energiewende slightly increases carbon emissions from power and district heating (DH) sectors, and reduces the flexibility in integration of VRE in some Nordic countries like Denmark. The direct interconnection of Norway and Germany through NordLink will contribute to the flexibility in wind integration in other Nordic countries, such as Denmark and Finland. - Highlights: • By an integrated hourly analysis, we model the energy systems of several networked countries and their common electricity market. • The proposed model can inform energy policy on implications of renewable energy integration in an international power market. • Among Nordic countries, Norway gains the highest economic benefits from Germany's energy transition. • Germany's energy transition constrains the flexibility of the Nordic countries in wind integration. • Nord

  4. International energy market dynamics: a modelling approach. Tome 1

    International Nuclear Information System (INIS)

    Nachet, S.

    1996-01-01

    This work is an attempt to model international energy market and reproduce the behaviour of both energy demand and supply. Energy demand was represented using sector versus source approach. For developing countries, existing link between economic and energy sectors were analysed. Energy supply is exogenous for energy sources other than oil and natural gas. For hydrocarbons, exploration-production process was modelled and produced figures as production yield, exploration effort index, etc. The model built is econometric and is solved using a software that was constructed for this purpose. We explore the energy market future using three scenarios and obtain projections by 2010 for energy demand per source and oil natural gas supply per region. Economic variables are used to produce different indicators as energy intensity, energy per capita, etc. (author). 378 refs., 26 figs., 35 tabs., 11 appends

  5. International energy market dynamics: a modelling approach. Tome 2

    International Nuclear Information System (INIS)

    Nachet, S.

    1996-01-01

    This work is an attempt to model international energy market and reproduce the behaviour of both energy demand and supply. Energy demand was represented using sector versus source approach. For developing countries, existing link between economic and energy sectors were analysed. Energy supply is exogenous for energy sources other than oil and natural gas. For hydrocarbons, exploration-production process was modelled and produced figures as production yield, exploration effort index, ect. The model build is econometric and is solved using a software that was constructed for this purpose. We explore the energy market future using three scenarios and obtain projections by 2010 for energy demand per source and oil and natural gas supply per region. Economic variables are used to produce different indicators as energy intensity, energy per capita, etc. (author). 378 refs., 26 figs., 35 tabs., 11 appends

  6. Marketing of renewable energies. Foundations, business models, case studies

    International Nuclear Information System (INIS)

    Herbes, Carsten; Friege, Christian

    2015-01-01

    How to market green electricity or biomethane? What is the right price for renewable energy and how do you design the optimal use of social media? What impact have the EEG or electromobility to the Green Power Marketing? Does direct marketing works or is online marketing the guarantee of success? Answers to these and many other basic questions provides the band with contributions from leading scientists and renowned practitioners. For the first time they describe in a structured form the basics of marketing of renewable energies, provide an introduction to the legal and market-based features and present new business models. The book is based on the latest research results, treats all questions of marketing issues important for practitioners, provides case studies and specific recommendations. [de

  7. Power market model with energy- and power dimension

    International Nuclear Information System (INIS)

    Johnsen, T.A.; Larsen, B.M.

    1995-01-01

    This report discusses a mathematical model of the Norwegian power market. The year is divided into three seasons. Each season is subdivided into a high-load period and a low-load period according to the demand. High-load occurs in daytime on workdays while low-load occurs at night and on holidays. The model is intended to be a tool for studying variations in prices, production, demand and trade throughout the year in a market of free competition. The model establishes equilibrium prices of electricity in Norway in high-load and low-load periods. Equilibrium prices with added transport tariffs and charges give customer an indication of the cost of using electricity. And the equilibrium prices indicate to the power producers the value of further energy or power capacity. Examples of calculations using the model show that extended export and import between Norway and other countries affect power prices and production in Norway. In the examples, power intensive industry and wood processing are subjected to market prices on energy. World market prices which give unilateral power export in the high-load periods cause the Norwegian power prices to rise strongly. If to the export from Norway in periods of high-load there corresponds import in periods of low-load, then the pressure on the prices in the power market is significantly reduced. A more extensive power exchange implies that foreign power producers may use the Norwegian power system to avoid large variations in their thermal power production. 23 refs., 21 figs., 1 tab

  8. Modeling energy market dynamics using discrete event system simulation

    International Nuclear Information System (INIS)

    Gutierrez-Alcaraz, G.; Sheble, G.B.

    2009-01-01

    This paper proposes the use of Discrete Event System Simulation to study the interactions among fuel and electricity markets and consumers, and the decision-making processes of fuel companies (FUELCOs), generation companies (GENCOs), and consumers in a simple artificial energy market. In reality, since markets can reach a stable equilibrium or fail, it is important to observe how they behave in a dynamic framework. We consider a Nash-Cournot model in which marketers are depicted as Nash-Cournot players that determine supply to meet end-use consumption. Detailed engineering considerations such as transportation network flows are omitted, because the focus is upon the selection and use of appropriate market models to provide answers to policy questions. (author)

  9. An improved market penetration model for wind energy technology forecasting

    International Nuclear Information System (INIS)

    Lund, P.D.

    1995-01-01

    An improved market penetration model with application to wind energy forecasting is presented. In the model, a technology diffusion model and manufacturing learning curve are combined. Based on a 85% progress ratio that was found for European wind manufactures and on wind market statistics, an additional wind power capacity of ca 4 GW is needed in Europe to reach a 30 % price reduction. A full breakthrough to low-cost utility bulk power markets could be achieved at a 24 GW level. (author)

  10. An improved market penetration model for wind energy technology forecasting

    Energy Technology Data Exchange (ETDEWEB)

    Lund, P D [Helsinki Univ. of Technology, Espoo (Finland). Advanced Energy Systems

    1996-12-31

    An improved market penetration model with application to wind energy forecasting is presented. In the model, a technology diffusion model and manufacturing learning curve are combined. Based on a 85% progress ratio that was found for European wind manufactures and on wind market statistics, an additional wind power capacity of ca 4 GW is needed in Europe to reach a 30 % price reduction. A full breakthrough to low-cost utility bulk power markets could be achieved at a 24 GW level. (author)

  11. An improved market penetration model for wind energy technology forecasting

    Energy Technology Data Exchange (ETDEWEB)

    Lund, P.D. [Helsinki Univ. of Technology, Espoo (Finland). Advanced Energy Systems

    1995-12-31

    An improved market penetration model with application to wind energy forecasting is presented. In the model, a technology diffusion model and manufacturing learning curve are combined. Based on a 85% progress ratio that was found for European wind manufactures and on wind market statistics, an additional wind power capacity of ca 4 GW is needed in Europe to reach a 30 % price reduction. A full breakthrough to low-cost utility bulk power markets could be achieved at a 24 GW level. (author)

  12. A spatial mean-variance MIP model for energy market risk analysis

    International Nuclear Information System (INIS)

    Yu, Zuwei

    2003-01-01

    The paper presents a short-term market risk model based on the Markowitz mean-variance method for spatial electricity markets. The spatial nature is captured using the correlation of geographically separated markets and the consideration of wheeling administration. The model also includes transaction costs and other practical constraints, resulting in a mixed integer programming (MIP) model. The incorporation of those practical constraints makes the model more attractive than the traditional Markowitz portfolio model with continuity. A case study is used to illustrate the practical application of the model. The results show that the MIP portfolio efficient frontier is neither smooth nor concave. The paper also considers the possible extension of the model to other energy markets, including natural gas and oil markets

  13. A spatial mean-variance MIP model for energy market risk analysis

    International Nuclear Information System (INIS)

    Zuwei Yu

    2003-01-01

    The paper presents a short-term market risk model based on the Markowitz mean-variance method for spatial electricity markets. The spatial nature is captured using the correlation of geographically separated markets and the consideration of wheeling administration. The model also includes transaction costs and other practical constraints, resulting in a mixed integer programming (MIP) model. The incorporation of those practical constraints makes the model more attractive than the traditional Markowitz portfolio model with continuity. A case study is used to illustrate the practical application of the model. The results show that the MIP portfolio efficient frontier is neither smooth nor concave. The paper also considers the possible extension of the model to other energy markets, including natural gas and oil markets. (author)

  14. A spatial mean-variance MIP model for energy market risk analysis

    Energy Technology Data Exchange (ETDEWEB)

    Zuwei Yu [Purdue University, West Lafayette, IN (United States). Indiana State Utility Forecasting Group and School of Industrial Engineering

    2003-05-01

    The paper presents a short-term market risk model based on the Markowitz mean-variance method for spatial electricity markets. The spatial nature is captured using the correlation of geographically separated markets and the consideration of wheeling administration. The model also includes transaction costs and other practical constraints, resulting in a mixed integer programming (MIP) model. The incorporation of those practical constraints makes the model more attractive than the traditional Markowitz portfolio model with continuity. A case study is used to illustrate the practical application of the model. The results show that the MIP portfolio efficient frontier is neither smooth nor concave. The paper also considers the possible extension of the model to other energy markets, including natural gas and oil markets. (author)

  15. A spatial mean-variance MIP model for energy market risk analysis

    Energy Technology Data Exchange (ETDEWEB)

    Yu, Zuwei [Indiana State Utility Forecasting Group and School of Industrial Engineering, Purdue University, Room 334, 1293 A.A. Potter, West Lafayette, IN 47907 (United States)

    2003-05-01

    The paper presents a short-term market risk model based on the Markowitz mean-variance method for spatial electricity markets. The spatial nature is captured using the correlation of geographically separated markets and the consideration of wheeling administration. The model also includes transaction costs and other practical constraints, resulting in a mixed integer programming (MIP) model. The incorporation of those practical constraints makes the model more attractive than the traditional Markowitz portfolio model with continuity. A case study is used to illustrate the practical application of the model. The results show that the MIP portfolio efficient frontier is neither smooth nor concave. The paper also considers the possible extension of the model to other energy markets, including natural gas and oil markets.

  16. Advanced Modeling of Renewable Energy Market Dynamics: May 2006

    Energy Technology Data Exchange (ETDEWEB)

    Evans, M.; Little, R.; Lloyd, K.; Malikov, G.; Passolt, G.; Arent, D.; Swezey, B.; Mosey, G.

    2007-08-01

    This report documents a year-long academic project, presenting selected techniques for analysis of market growth, penetration, and forecasting applicable to renewable energy technologies. Existing mathematical models were modified to incorporate the effects of fiscal policies and were evaluated using available data. The modifications were made based on research and classification of current mathematical models used for predicting market penetration. An analysis of the results was carried out, based on available data. MATLAB versions of existing and new models were developed for research and policy analysis.

  17. Model of the electric energy market in Poland. Assumptions, structure and operation principles

    International Nuclear Information System (INIS)

    Kulagowski, W.

    1994-01-01

    Present state of works on model of electric energy market in Poland with special consideration of bulk energy market is presented. The designed model based on progressive, evolutionary changes is so elastic, that when keeping general structure and fundamentals the particular solutions can be verified or corrected. The changes in the electric energy market are considered as an integral part of existing restructuring process of Polish electric energy sector. The rate of those changes and the mode of their introduction influence on introduction speed of the new solutions. (author). 14 refs, 4 figs

  18. An Aggregation Model for Energy Resources Management and Market Negotiations

    Directory of Open Access Journals (Sweden)

    Omid Abrishambaf

    2018-03-01

    Full Text Available Currently the use of distributed energy resources, especially renewable generation, and demand response programs are widely discussed in scientific contexts, since they are a reality in nowadays electricity markets and distribution networks. In order to benefit from these concepts, an efficient energy management system is needed to prevent energy wasting and increase profits. In this paper, an optimization based aggregation model is presented for distributed energy resources and demand response program management. This aggregation model allows different types of customers to participate in electricity market through several tariffs based demand response programs. The optimization algorithm is a mixed-integer linear problem, which focuses on minimizing operational costs of the aggregator. Moreover, the aggregation process has been done via K-Means clustering algorithm, which obtains the aggregated costs and energy of resources for remuneration. By this way, the aggregator is aware of energy available and minimum selling price in order to participate in the market with profit. A realistic low voltage distribution network has been proposed as a case study in order to test and validate the proposed methodology. This distribution network consists of 25 distributed generation units, including photovoltaic, wind and biomass generation, and 20 consumers, including residential, commercial, and industrial buildings.

  19. A stochastic MILP energy planning model incorporating power market dynamics

    International Nuclear Information System (INIS)

    Koltsaklis, Nikolaos E.; Nazos, Konstantinos

    2017-01-01

    Highlights: •Stochastic MILP model for the optimal energy planning of a power system. •Power market dynamics (offers/bids) are incorporated in the proposed model. •Monte Carlo method for capturing the uncertainty of some key parameters. •Analytical supply cost composition per power producer and activity. •Clean dark and spark spreads are calculated for each power unit. -- Abstract: This paper presents an optimization-based methodological approach to address the problem of the optimal planning of a power system at an annual level in competitive and uncertain power markets. More specifically, a stochastic mixed integer linear programming model (MILP) has been developed, combining advanced optimization techniques with Monte Carlo method in order to deal with uncertainty issues. The main focus of the proposed framework is the dynamic formulation of the strategy followed by all market participants in volatile market conditions, as well as detailed economic assessment of the power system’s operation. The applicability of the proposed approach has been tested on a real case study of the interconnected Greek power system, quantifying in detail all the relevant technical and economic aspects of the system’s operation. The proposed work identifies in the form of probability distributions the optimal power generation mix, electricity trade at a regional level, carbon footprint, as well as detailed total supply cost composition, according to the assumed market structure. The paper demonstrates that the proposed optimization approach is able to provide important insights into the appropriate energy strategies designed by market participants, as well as on the strategic long-term decisions to be made by investors and/or policy makers at a national and/or regional level, underscoring potential risks and providing appropriate price signals on critical energy projects under real market operating conditions.

  20. Mathematical modelling of electricity market with renewable energy sources

    International Nuclear Information System (INIS)

    Marchenko, O.V.

    2007-01-01

    The paper addresses the electricity market with conventional energy sources on fossil fuel and non-conventional renewable energy sources (RESs) with stochastic operating conditions. A mathematical model of long-run (accounting for development of generation capacities) equilibrium in the market is constructed. The problem of determining optimal parameters providing the maximum social criterion of efficiency is also formulated. The calculations performed have shown that the adequate choice of price cap, environmental tax, subsidies to RESs and consumption tax make it possible to take into account external effects (environmental damage) and to create incentives for investors to construct conventional and renewable energy sources in an optimal (from the society view point) mix. (author)

  1. Model documentation Coal Market Module of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-04-30

    This report documents objectives and conceptual and methodological approach used in the development of the National Energy Modeling System (NEMS) Coal Market Module (CMM) used to develop the Annual Energy Outlook 1996 (AEO96). This report catalogues and describes the assumptions, methodology, estimation techniques, and source code of CMM`s three submodules: Coal Production Submodule, Coal Export Submodule, and Coal Distribution Submodule.

  2. Polish model of electric energy market-bulk energy tariff

    International Nuclear Information System (INIS)

    Malysa, H.

    1994-01-01

    The key problem of electric energy supply industry reform is gradually launching a competitive wholesale generation market since 1994. In process of this transformation the important role plays bulk energy supply tariff in electricity transactions between Polish Power Grid Company and distribution and retail supply companies (distributors). Premises, factors and constrains having influence on shaping of the bulk energy supply tariff are presented. A brief outline of economic foundation for calculation of demand charges and energy rate is given. Particular attention has been paid to description of bulk energy supply tariff structure. The scope and manner of adjustment of this tariff to circumstances and constrains in the initial stage of the wholesale electric energy market have been described as well. (author). 8 refs

  3. Heat Energy Markets: Trends of Spatial Organization

    Directory of Open Access Journals (Sweden)

    Olga Valeryevna Dyomina

    2016-12-01

    Full Text Available The author reviews competing forms of heat supply. It is shown that in Finland, Denmark, China and Russia the dominant form of heat supply is district heating system; in the United States and Canada the dominant form of heat supply is individual one. Using the countries’ data the author allocates 4 models of heat energy markets. The analysis is based on combinations of the following characteristics: the type of market, the orientation of market, the stage of market development, forms of state support of district heating systems and the approach to pricing. The results identified the failure of the current model of heat energy market in Russia (noncompetitive, manufacturer-oriented and evolved market with massive state support of its district heating system. The ‘target’ model of heat energy market in Russia is a model of noncompetitive, customer-oriented and evolved market with no state support of its district heating system. However, the ‘target’ model takes into account spatial heterogeneity of local heat energy markets in Russia only technically

  4. A Bilevel Model for Participation of a Storage System in Energy and Reserve Markets

    DEFF Research Database (Denmark)

    Nasrolahpour, Ehsan; Kazempour, Jalal; Zareipour, Hamidreza

    2017-01-01

    We develop a decision-making tool based on a bilevel complementarity model for a merchant price-maker energy storage system to determine the most beneficial trading actions in pool-based markets, including day-ahead (as joint energy and reserve markets) and balancing settlements. The uncertainty...... of net load deviation in real-time is incorporated into the model using a set of scenarios generated from the available forecast in the day-ahead. The objective of this energy storage system is to maximize its expected profit. The day-ahead products of energy storage system include energy as well...... system into clearing process of multiple markets and enables such a facility to possibly affect the outcomes of those markets to its own benefit through strategic price and quantity offers. The validity of the proposed approach is evaluated using a numerical study....

  5. End user prices in liberalised energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Lijesen, M.G. [Afdeling Energie en Grondstoffen, Centraal Planbureau CPB, Den Haag (Netherlands)

    2002-12-01

    As European energy markets move towards deregulation, energy prices shift from classic 'cost plus' prices towards market prices. We develop a model for the retail and wholesale energy markets in Europe, based on Bertrand competition in a two part pricing structure with switching costs. We use the model to forecast end user electricity and natural gas prices and find that the introduction of competition in energy retail and wholesale markets will decrease standing charges, lowering total costs for energy users. A larger number of entrants, a cost advantage for one of the suppliers, or lower switching costs reduces standing charges further.

  6. Assessing the Plurality of Actors and Policy Interactions: Agent-Based Modelling of Renewable Energy Market Integration

    Directory of Open Access Journals (Sweden)

    Marc Deissenroth

    2017-01-01

    Full Text Available The ongoing deployment of renewable energy sources (RES calls for an enhanced integration of RES into energy markets, accompanied by a new set of regulations. In Germany, for instance, the feed-in tariff legislation for renewables has been successively replaced by first optional and then obligatory marketing of RES on competitive wholesale markets. This paper introduces an agent-based model that allows studying the impact of changing energy policy instruments on the economic performance of RES operators and marketers. The model structure, its components, and linkages are presented in detail; an additional case study demonstrates the capability of our sociotechnical model. We find that changes in the political framework cannot be mapped directly to RES operators as behaviour of intermediary market actors has to be considered as well. Characteristics and strategies of intermediaries are thus an important factor for successful RES marketing and further deployment. It is shown that the model is able to assess the emergence and stability of market niches.

  7. Strategic energy planning: Modelling and simulating energy market behaviours using system thinking and systems dynamics principles

    International Nuclear Information System (INIS)

    Papageorgiou, George Nathaniel

    2005-01-01

    In the face of limited energy reserves and the global warming phenomenon, Europe is undergoing a transition from rapidly depleting fossil fuels to renewable unconventional energy sources. During this transition period, energy shortfalls will occur and energy prices will be increasing in an oscillating manner. As a result of the turbulence and dynamicity that will accompany the transition period, energy analysts need new appropriate methods, techniques and tools in order to develop forecasts for the behaviour of energy markets, which would assist in the long term strategic energy planning and policy analysis. This paper reviews energy market behaviour as related to policy formation, and from a dynamic point of view through the use of ''systems thinking'' and ''system dynamics'' principles, provides a framework for modelling the energy production and consumption process in relation to their environment. Thereby, effective energy planning can be developed via computerised simulation using policy experimentation. In a demonstration model depicted in this paper, it is shown that disasters due to attractive policies can be avoided by using simple computer simulation. (Author)

  8. A multi-scale energy demand model suggests sharing market risks with intelligent energy cooperatives

    NARCIS (Netherlands)

    G. Methenitis (Georgios); M. Kaisers (Michael); J.A. La Poutré (Han)

    2015-01-01

    textabstractIn this paper, we propose a multi-scale model of energy demand that is consistent with observations at a macro scale, in our use-case standard load profiles for (residential) electric loads. We employ the model to study incentives to assume the risk of volatile market prices for

  9. Smart market. From smart grid to the intelligent energy market

    International Nuclear Information System (INIS)

    Aichele, Christian; Doleski, Oliver D.

    2014-01-01

    Dare more market. - The design of this postulate provides an important contribution to the success of the German energy transition. The Bundesnetzagentur has shown with its highly regarded benchmark paper on smart grids and markets leads the way towards more market in the energy sector. The therein required differentiation in a network and market sphere contributes to greater transparency on the consumer side and enables a gid releaving shift in energy consumption. The book focuses on actors and roles in the modified market circumstances as well as components and products of a future Smart Markets. Finally, to the reader concrete business models are offered. Authors from science and practice give in this book answers on how the interaction of Smart Grid and Smart Market works. [de

  10. Marketing of renewable energies. Foundations, business models, case studies; Marketing Erneuerbarer Energien. Grundlagen, Geschaeftsmodelle, Fallbeispiele

    Energy Technology Data Exchange (ETDEWEB)

    Herbes, Carsten [HfWU Nuertingen-Geislingen, Nuertingen (Germany); Friege, Christian (ed.)

    2015-07-01

    How to market green electricity or biomethane? What is the right price for renewable energy and how do you design the optimal use of social media? What impact have the EEG or electromobility to the Green Power Marketing? Does direct marketing works or is online marketing the guarantee of success? Answers to these and many other basic questions provides the band with contributions from leading scientists and renowned practitioners. For the first time they describe in a structured form the basics of marketing of renewable energies, provide an introduction to the legal and market-based features and present new business models. The book is based on the latest research results, treats all questions of marketing issues important for practitioners, provides case studies and specific recommendations. [German] Wie vermarktet man Oekostrom oder Biomethan? Was ist der richtige Preis fuer Erneuerbare Energien und wie gestaltet man den optimalen Einsatz von Social Media? Welche Auswirkungen haben das EEG oder die Elektromobilitaet auf das Gruenstrom-Marketing? Funktioniert Direktvertrieb oder ist Online-Marketing der Erfolgsgarant? Antworten auf diese und viele weitere grundlegende Fragen liefert dieser Band mit Beitraegen fuehrender Wissenschaftler und renommierter Praktiker. Erstmals beschreiben sie hier in strukturierter Form die Grundlagen der Vermarktung von Erneuerbaren Energien, fuehren in die gesetzlichen und marktlichen Besonderheiten ein und stellen neue Geschaeftsmodelle vor. Das Buch fusst auf aktuellen Forschungsergebnissen, behandelt saemtliche fuer Praktiker wichtige Fragen der Vermarktung, liefert Fallbeispiele und konkrete Empfehlungen.

  11. Stochastic Modeling of Wind Derivatives in Energy Markets

    Directory of Open Access Journals (Sweden)

    Fred Espen Benth

    2018-05-01

    Full Text Available We model the logarithm of the spot price of electricity with a normal inverse Gaussian (NIG process and the wind speed and wind power production with two Ornstein–Uhlenbeck processes. In order to reproduce the correlation between the spot price and the wind power production, namely between a pure jump process and a continuous path process, respectively, we replace the small jumps of the NIG process by a Brownian term. We then apply our models to two different problems: first, to study from the stochastic point of view the income from a wind power plant, as the expected value of the product between the electricity spot price and the amount of energy produced; then, to construct and price a European put-type quanto option in the wind energy markets that allows the buyer to hedge against low prices and low wind power production in the plant. Calibration of the proposed models and related price formulas is also provided, according to specific datasets.

  12. Energy at what price? Energy markets

    International Nuclear Information System (INIS)

    Favennec, J.P.; Amic, E.; Darmois, G.

    2006-01-01

    In 2005, the whole world had to stand a real energy shock due to the rise of oil, gas and electricity prices. The perspective of a possible shortage, even at the prospect of several decades, has led to a deep change of the world energy market. In this context, this book supplies a clear and didactical presentation of the mechanisms of petroleum, gas and electricity markets, with their advantages and limitations. At the time of a globalization of economy, the book analyzes the consequences of markets deregulation on the energy prices and tries to answer several main questions: why such a price volatility? Who will take the risk of investing now? Will the energy actors of the present day concentration be in a dominating position? Content: 1 - energy, markets and energy markets; 2 - crude oil and petroleum product markets; 3 - gas markets; 4 - electric power markets; 5 - perspectives. Glossary. Index. (J.S.)

  13. Energy price forecast by market analysis

    International Nuclear Information System (INIS)

    Jongepier, A.G.

    2000-01-01

    A power trader benefits from accurate price predictions. Based on market analyses, KEMA Connect has developed - in cooperation with Essent Energy Trading - a market model, enhancing the insight into market operation and one's own actions and thus resulting in accurate price predictions

  14. Evaluation of Franchising Business Model to Solar Energy Market in Vietnam

    OpenAIRE

    Nguyen, Thanh

    2009-01-01

    The shortage of energy, the running out of natural resources, the concern for environment pollution and the advantage of potential solar resource has become an opportunity for foreign investors who have intention to enter Vietnam‟s solar energy market. There are so many entry modes for the investors to choose rom but the application of franchising business model to solar energy industry is still a new concept not only in Vietnam but also all over the world. Therefore, this study works on the...

  15. Stochastic–multiobjective market equilibrium analysis of a demand response program in energy market under uncertainty

    International Nuclear Information System (INIS)

    Hu, Ming-Che; Lu, Su-Ying; Chen, Yen-Haw

    2016-01-01

    Highlights: • Analyze the impact of a demand response program under uncertainty. • Stochastic Nash–Cournot competition model is formulated. • Case study of the Taiwanese electric power market is conducted. • Demand response decreases power price, generation, and emissions. • Demand uncertainty increases energy price and supply risk in the results. - Abstract: In the electricity market, demand response programs are designed to shift peak demand and enhance system reliability. A demand response program can reduce peak energy demand, power transmission congestion, or high energy-price conditions by changing consumption patterns. The purpose of this research is to analyze the impact of a demand response program in the energy market, under demand uncertainty. A stochastic–multiobjective Nash–Cournot competition model is formulated to simulate demand response in an uncertain energy market. Then, Karush–Kuhn–Tucker optimality conditions and a linear complementarity problem are derived for the stochastic Nash–Cournot model. Accordingly, the linear complementarity problem is solved and its stochastic market equilibrium solution is determined by using a general algebraic modeling system. Additionally, the case of the Taiwanese electric power market is taken up here, and the results show that a demand response program is capable of reducing peak energy consumption, energy price, and carbon dioxide emissions. The results show that demand response program decreases electricity price by 2–10%, total electricity generation by 0.5–2%, and carbon dioxide emissions by 0.5–2.5% in the Taiwanese power market. In the simulation, demand uncertainty leads to an 2–7% increase in energy price and supply risk in the market. Additionally, tradeoffs between cost and carbon dioxide emissions are presented.

  16. International energy market dynamics: a modelling approach. Tome 2; La dynamique du marche mondial de l`energie: une approche modelisee. Tome 2

    Energy Technology Data Exchange (ETDEWEB)

    Nachet, S

    1996-02-14

    This work is an attempt to model international energy market and reproduce the behaviour of both energy demand and supply. Energy demand was represented using sector versus source approach. For developing countries, existing link between economic and energy sectors were analysed. Energy supply is exogenous for energy sources other than oil and natural gas. For hydrocarbons, exploration-production process was modelled and produced figures as production yield, exploration effort index, ect. The model build is econometric and is solved using a software that was constructed for this purpose. We explore the energy market future using three scenarios and obtain projections by 2010 for energy demand per source and oil and natural gas supply per region. Economic variables are used to produce different indicators as energy intensity, energy per capita, etc. (author). 378 refs., 26 figs., 35 tabs., 11 appends.

  17. International energy market dynamics: a modelling approach. Tome 1; La dynamique du marche mondial de l`energie: une approche modelisee. Tome 1

    Energy Technology Data Exchange (ETDEWEB)

    Nachet, S

    1996-02-14

    This work is an attempt to model international energy market and reproduce the behaviour of both energy demand and supply. Energy demand was represented using sector versus source approach. For developing countries, existing link between economic and energy sectors were analysed. Energy supply is exogenous for energy sources other than oil and natural gas. For hydrocarbons, exploration-production process was modelled and produced figures as production yield, exploration effort index, etc. The model built is econometric and is solved using a software that was constructed for this purpose. We explore the energy market future using three scenarios and obtain projections by 2010 for energy demand per source and oil natural gas supply per region. Economic variables are used to produce different indicators as energy intensity, energy per capita, etc. (author). 378 refs., 26 figs., 35 tabs., 11 appends.

  18. Market penetration of new energy technologies

    Energy Technology Data Exchange (ETDEWEB)

    Packey, D.J.

    1993-02-01

    This report examines the characteristics, advantages, disadvantages, and, for some, the mathematical formulas of forecasting methods that can be used to forecast the market penetration of renewable energy technologies. Among the methods studied are subjective estimation, market surveys, historical analogy models, cost models, diffusion models, time-series models, and econometric models. Some of these forecasting methods are more effective than others at different developmental stages of new technologies.

  19. Agent-based model of intermittent renewables : Simulating emerging changes in energy markets in transition

    NARCIS (Netherlands)

    Chappin, E.J.L.; Viebahn, P.; Richstein, J.C.; Lechtenböhmer, S.; Nebel, A.

    2012-01-01

    The energy transition is taking shape in the German and, to a lesser extent also its neighbouring electricity markets. We have proposed adaptations to an existing model to represent the increasing shares of intermittent renewables, that may alter the structure of the market and the viability of

  20. Energy Choices. Energy markets; Vaegval Energi. Energimarknader

    Energy Technology Data Exchange (ETDEWEB)

    Damsgaard, Niclas (Econ Poeyry AB, Stockholm (Sweden))

    2008-12-15

    Each of the major energy markets for oil, coal, natural gas, biofuels and electricity has its own character. But markets are dependent on each other in an often complicated way. This interconnection has become even more complex since the market for emissions trading began in Europe in 2005. This report describes the current situation of the different energy markets but also the relationships between them, and some possible future scenarios. The oil market is global, but is dominated by a few producing countries. Coal is traded on the international market with good competition and over time probably a stable price. Other markets are more regional or even local. One example is the natural gas market. In the current situation of natural gas is not particularly important for Sweden's energy supply, but very much so in a European perspective. There may be repercussions also in Sweden. The gas price ups and downs are important for the price of emission rights and electricity. Biofuel markets ranging from global markets, such as ethanol, to regional or local markets, depending on processing. Only with the creation of a single trading venue, Nordpool was a common pricing of electricity possible in the Nordic region. In the near future we will have a common electricity market covering at least the Nordic region and northwestern Europe. This does not mean that prices will become equalized, for that further expansion of the transmission capacity is needed. It is possible to imagine several scenarios for future energy markets, but the interaction between the different markets will persist. To develop appropriate instruments is of great importance to achieve the political objectives in the energy field the next decade

  1. Demand response in energy markets

    International Nuclear Information System (INIS)

    Skytte, K.; Birk Mortensen, J.

    2004-11-01

    Improving the ability of energy demand to respond to wholesale prices during critical periods of the spot market can reduce the total costs of reliably meeting demand, and the level and volatility of the prices. This fact has lead to a growing interest in the short-run demand response. There has especially been a growing interest in the electricity market where peak-load periods with high spot prices and occasional local blackouts have recently been seen. Market concentration at the supply side can result in even higher peak-load prices. Demand response by shifting demand from peak to base-load periods can counteract the market power in the peak-load. However, demand response has so far been modest since the current short-term price elasticity seems to be small. This is also the case for related markets, for example, green certificates where the demand is determined as a percentage of the power demand, or for heat and natural gas markets. This raises a number of interesting research issues: 1) Demand response in different energy markets, 2) Estimation of price elasticity and flexibility, 3) Stimulation of demand response, 4) Regulation, policy and modelling aspects, 5) Demand response and market power at the supply side, 6) Energy security of supply, 7) Demand response in forward, spot, ancillary service, balance and capacity markets, 8) Demand response in deviated markets, e.g., emission, futures, and green certificate markets, 9) Value of increased demand response, 10) Flexible households. (BA)

  2. New business models of green energy supply on the energy market with the effects of reduction of CO2

    International Nuclear Information System (INIS)

    Grozdanic, I.; Pokrovac, M.

    2015-01-01

    In this paper, new business models for renewables, which found their way to market competitiveness and which become more present on energy markets in EU will be shown. This transition, beside transition to ecological and, in the long-term, more sustainable production of energy , brought another change which has far more importance for society. New business models for investments in renewables which bring energy industry closer to citizens are being developed. Entrepreneurs, energy cooperatives and public grouped in various forms of associations in Germany own over 50 percent of renewables. Such investment models are important for society because of the development of more sustainable and just society in which citizens are included in production of electricity. Also, through these models, price of electricity is lower for end users. Besides direct collective fund investments from citizens, these types of projects are financially supported through financial instruments of the EU, but also through special bank types, such as environmental and ethical banks. These business models are long-term acceptable because of increasing involvement of renewables which results in reduction of CO2. In this paper, european models and possible models which could be used in Croatia are shown. (author).

  3. A computationally efficient electricity price forecasting model for real time energy markets

    International Nuclear Information System (INIS)

    Feijoo, Felipe; Silva, Walter; Das, Tapas K.

    2016-01-01

    Highlights: • A fast hybrid forecast model for electricity prices. • Accurate forecast model that combines K-means and machine learning techniques. • Low computational effort by elimination of feature selection techniques. • New benchmark results by using market data for year 2012 and 2015. - Abstract: Increased significance of demand response and proliferation of distributed energy resources will continue to demand faster and more accurate models for forecasting locational marginal prices. This paper presents such a model (named K-SVR). While yielding prediction accuracy comparable with the best known models in the literature, K-SVR requires a significantly reduced computational time. The computational reduction is attained by eliminating the use of a feature selection process, which is commonly used by the existing models in the literature. K-SVR is a hybrid model that combines clustering algorithms, support vector machine, and support vector regression. K-SVR is tested using Pennsylvania–New Jersey–Maryland market data from the periods 2005–6, 2011–12, and 2014–15. Market data from 2006 has been used to measure performance of many of the existing models. Authors chose these models to compare performance and demonstrate strengths of K-SVR. Results obtained from K-SVR using the market data from 2012 and 2015 are new, and will serve as benchmark for future models.

  4. Energy markets and European Integration: The World Energy Council role

    International Nuclear Information System (INIS)

    Murray, J.

    2002-01-01

    Energy market reform brings many benefits. Central and East Europe's challenge is to establish such markets when, at list in the case of electricity, the established market economies are still wrestling with how to apply competitive principles to this market. Design challenges include the natural monopoly elements within the electricity supply chain and the fact that it is, in practical terms, as essential social service. There is no one single model suitable to all markets at all stages of development. At the same time, there is a need for sustainable energy pricing, which means prices should cover all costs, with transparent and time-limited subsidies bringing the afford ability gap. Cross-border integration extends the benefits available from market reform by overcoming constraints at the national level and by broadening the geographical limits of a market. The World Energy Council works with its Central and East European members to analyse, understand and meet these challenges. (author)

  5. Integration of distributed energy resources into low voltage grid: A market-based multiperiod optimization model

    Energy Technology Data Exchange (ETDEWEB)

    Mashhour, Elahe; Moghaddas-Tafreshi, S.M. [Faculty of Electrical Engineering, K.N. Toosi University of Technology, Seyd Khandan, P.O. Box 16315-1355, Shariati, Tehran (Iran)

    2010-04-15

    This paper develops a multiperiod optimization model for an interconnected micro grid with hierarchical control that participates in wholesale energy market to maximize its benefit (i.e. revenues-costs). In addition to the operational constraints of distributed energy resources (DER) including both inter-temporal and non-inter-temporal types, the adequacy and steady-state security constraints of micro grid and its power losses are incorporated in the optimization model. In the presented model, DER are integrated into low voltage grid considering both technical and economical aspects. This integration as a micro grid can participate in wholesale energy market as an entity with dual role including producer and consumer based on the direction of exchanged power. The developed model is evaluated by testing on a micro grid considering different cases and the results are analyzed. (author)

  6. Impact of energy prices: a housing-market analysis

    Energy Technology Data Exchange (ETDEWEB)

    Zaki, A.S.; Isakson, H.R.

    1983-04-01

    This paper investigates the effect of energy costs on the housing-market response. As the effect of energy costs has not been specifically investigated before in the literature, both a linear and nonlinear model were investigated. The choice of the appropriate model was determined using the Box-Cox transformation technique. The chosen model was then validated. The results reveal that in the Spokane, Washington, area, where energy costs are relatively low, energy prices do not have a significant effect on market response. However, applying the same methodology to areas where energy costs are higher might produce different results. 29 references, 3 tables.

  7. Stochastic volatility and multi-dimensional modeling in the European energy market

    Energy Technology Data Exchange (ETDEWEB)

    Vos, Linda

    2012-07-01

    In energy prices there is evidence for stochastic volatility. Stochastic volatility has effect on the price of path-dependent options and therefore has to be modeled properly. We introduced a multi-dimensional non-Gaussian stochastic volatility model with leverage which can be used in energy pricing. It captures special features of energy prices like price spikes, mean-reversion, stochastic volatility and inverse leverage. Moreover it allows modeling dependencies between different commodities.The derived forward price dynamics based on this multi-variate spot price model, provides a very flexible structure. It includes cotango, backwardation and hump shape forward curves.Alternatively energy prices could be modeled by a 2-factor model consisting of a non-Gaussian stable CARMA process and a non-stationary trend models by a Levy process. Also this model is able to capture special features like price spikes, mean reversion and the low frequency dynamics in the market. An robust L1-filter is introduced to filter out the states of the CARMA process. When applying to German electricity EEX exchange data an overall negative risk-premium is found. However close to delivery a positive risk-premium is observed.(Author)

  8. Model documentation, Coal Market Module of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-01-01

    This report documents the objectives and the conceptual and methodological approach used in the development of the National Energy Modeling System`s (NEMS) Coal Market Module (CMM) used to develop the Annual Energy Outlook 1998 (AEO98). This report catalogues and describes the assumptions, methodology, estimation techniques, and source code of CMM`s two submodules. These are the Coal Production Submodule (CPS) and the Coal Distribution Submodule (CDS). CMM provides annual forecasts of prices, production, and consumption of coal for NEMS. In general, the CDS integrates the supply inputs from the CPS to satisfy demands for coal from exogenous demand models. The international area of the CDS forecasts annual world coal trade flows from major supply to major demand regions and provides annual forecasts of US coal exports for input to NEMS. Specifically, the CDS receives minemouth prices produced by the CPS, demand and other exogenous inputs from other NEMS components, and provides delivered coal prices and quantities to the NEMS economic sectors and regions.

  9. Does wind energy mitigate market power in deregulated electricity markets?

    International Nuclear Information System (INIS)

    Ben-Moshe, Ori; Rubin, Ofir D.

    2015-01-01

    A rich body of literature suggests that there is an inverse relationship between wind power penetration rate into the electricity market and electricity prices, but it is unclear whether these observations can be generalized. Therefore, in this paper we seek to analytically characterize market conditions that give rise to this inverse relationship. For this purpose, we expand a recently developed theoretical framework to facilitate flexibility in modeling the structure of the electric industry with respect to the degree of market concentration and diversification in the ownership of wind power capacity. The analytical results and their attendant numerical illustrations indicate that the introduction of wind energy into the market does not always depress electricity prices. Such a drop in electricity prices is likely to occur when the number of firms is large enough or the ownership of wind energy is sufficiently diversified, or most often a combination of the two. Importantly, our study defines the circumstances in which the question of which type of firm invests in wind power capacity is crucial for market prices. - Highlights: • Studies show that electricity prices decrease with increased wind power capacity. • We investigate market conditions that give rise to this inverse relationship. • Average prices for wind energy are systematically lower than average market prices. • Conventional generation firms may increase market power by investing in wind farms. • Energy policy should seek to diversify the ownership of wind power capacity

  10. Electricity Market Manipulation: How Behavioral Modeling Can Help Market Design

    Energy Technology Data Exchange (ETDEWEB)

    Gallo, Giulia [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2015-12-18

    The question of how to best design electricity markets to integrate variable and uncertain renewable energy resources is becoming increasingly important as more renewable energy is added to electric power systems. Current markets were designed based on a set of assumptions that are not always valid in scenarios of high penetrations of renewables. In a future where renewables might have a larger impact on market mechanisms as well as financial outcomes, there is a need for modeling tools and power system modeling software that can provide policy makers and industry actors with more realistic representations of wholesale markets. One option includes using agent-based modeling frameworks. This paper discusses how key elements of current and future wholesale power markets can be modeled using an agent-based approach and how this approach may become a useful paradigm that researchers can employ when studying and planning for power systems of the future.

  11. The Energy Market 2004

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2004-08-01

    This publication describes the markets for network based energy in a Nordic perspective, with an extension to the EU. The ongoing harmonization of the energy market policy is described in more detail in the sections dealing with energy policy and regulations. The network based energy markets differ in size, ownership structure and competition. The electricity and district heating markets in Sweden were deregulated in 1996. However, the natural gas market is being deregulated in stages, and will be completely open to competition by 2007 at the latest. The rules for promoting competition in trading and production on the network based energy markets have therefore been continually changed. The chapters dealing with the markets describe the effects of deregulation and how the market structures have changed. If a market is to perform well, the consumers must be active. A study performed by 'Elkonkurrensutredningen' (Electricity competition committee) shows that switching to a different supplier involves costs that restrict consumer mobility, and that the consumers are not sufficiently well informed. This publication also describes the development of prices and how the trading prices have developed on the competitive market. The markets for network based energy are in the course of continual development. This report gives a coherents view of the way the markets work and their development from a national monopoly to an open, competitive market. On such a deregulated market, consumers enjoy increased diversity and freedom of choice. This, in turn, has created the conditions for better utilization of resources at the production stage.

  12. The Energy Market 2004

    International Nuclear Information System (INIS)

    2004-01-01

    This publication describes the markets for network based energy in a Nordic perspective, with an extension to the EU. The ongoing harmonization of the energy market policy is described in more detail in the sections dealing with energy policy and regulations. The network based energy markets differ in size, ownership structure and competition. The electricity and district heating markets in Sweden were deregulated in 1996. However, the natural gas market is being deregulated in stages, and will be completely open to competition by 2007 at the latest. The rules for promoting competition in trading and production on the network based energy markets have therefore been continually changed. The chapters dealing with the markets describe the effects of deregulation and how the market structures have changed. If a market is to perform well, the consumers must be active. A study performed by 'Elkonkurrensutredningen' (Electricity competition committee) shows that switching to a different supplier involves costs that restrict consumer mobility, and that the consumers are not sufficiently well informed. This publication also describes the development of prices and how the trading prices have developed on the competitive market. The markets for network based energy are in the course of continual development. This report gives a coherents view of the way the markets work and their development from a national monopoly to an open, competitive market. On such a deregulated market, consumers enjoy increased diversity and freedom of choice. This, in turn, has created the conditions for better utilization of resources at the production stage.

  13. A risk-averse optimization model for trading wind energy in a market environment under uncertainty

    International Nuclear Information System (INIS)

    Pousinho, H.M.I.; Mendes, V.M.F.; Catalao, J.P.S.

    2011-01-01

    In this paper, a stochastic programming approach is proposed for trading wind energy in a market environment under uncertainty. Uncertainty in the energy market prices is the main cause of high volatility of profits achieved by power producers. The volatile and intermittent nature of wind energy represents another source of uncertainty. Hence, each uncertain parameter is modeled by scenarios, where each scenario represents a plausible realization of the uncertain parameters with an associated occurrence probability. Also, an appropriate risk measurement is considered. The proposed approach is applied on a realistic case study, based on a wind farm in Portugal. Finally, conclusions are duly drawn. -- Highlights: → We model uncertainties on energy market prices and wind power production. → A hybrid intelligent approach generates price-wind power scenarios. → Risk aversion is also incorporated in the proposed stochastic programming approach. → A realistic case study, based on a wind farm in Portugal, is provided. → Our approach allows selecting the best solution according to the desired risk exposure level.

  14. Risk premia in energy markets

    DEFF Research Database (Denmark)

    Veraart, Almut E.D.; Veraart, Luitgard A.M.

    Risk premia between spot and forward prices play a key role in energy markets. This paper derives analytic expressions for such risk premia when spot prices are modelled by Lévy semistationary processes. While the relation between spot and forward prices can be derived using classical no......-arbitrage arguments as long as the underlying commodities are storable, the situation changes in the case of electricity. Hence, in an empirical study based on electricity spot prices and futures from the European Energy Exchange market, we investigate the empirical behaviour of electricity risk premia from...

  15. Nonlinearity and intraday efficiency tests on energy futures markets

    International Nuclear Information System (INIS)

    Wang, Tao; Yang, Jian

    2010-01-01

    Using high frequency data, this paper first time comprehensively examines the intraday efficiency of four major energy (crude oil, heating oil, gasoline, natural gas) futures markets. In contrast to earlier studies which focus on in-sample evidence and assume linearity, the paper employs various nonlinear models and several model evaluation criteria to examine market efficiency in an out-of-sample forecasting context. Overall, there is evidence for intraday market inefficiency of two of the four energy future markets (heating oil and natural gas), which exists particularly during the bull market condition but not during the bear market condition. The evidence is also robust against the data-snooping bias and the model overfitting problem, and its economic significance can be very substantial. (author)

  16. Nonlinearity and intraday efficiency tests on energy futures markets

    Energy Technology Data Exchange (ETDEWEB)

    Wang, Tao [Department of Economics, Queens College and the Graduate Center, The City University of New York, Flushing, NY 11367 (United States); Yang, Jian [The Business School, PO Box 173364, University of Colorado Denver, Denver, CO 80217-3364 (United States)

    2010-03-15

    Using high frequency data, this paper first time comprehensively examines the intraday efficiency of four major energy (crude oil, heating oil, gasoline, natural gas) futures markets. In contrast to earlier studies which focus on in-sample evidence and assume linearity, the paper employs various nonlinear models and several model evaluation criteria to examine market efficiency in an out-of-sample forecasting context. Overall, there is evidence for intraday market inefficiency of two of the four energy future markets (heating oil and natural gas), which exists particularly during the bull market condition but not during the bear market condition. The evidence is also robust against the data-snooping bias and the model overfitting problem, and its economic significance can be very substantial. (author)

  17. Regulation of Danish energy markets with imperfect competition

    International Nuclear Information System (INIS)

    Goertz, M.; Hansen, J.V.

    1999-01-01

    In this paper we use a new CGE model of the Danish economy with the acronym ECOSMEC (Economic COuncil Simulation Model with Energy markets and Carbon taxation). The model is a hybrid of two existing static models developed by respectively the Secretariat of the Danish Economic Council and by the MobiDK project in the Ministry of Business and Industry. Distinct features of the ECOSMEC model are a rather disaggregated modelling of energy demand and supply, introduction of various market structures in the energy sector, and a consistent specification of different household types. The simulations presented in the paper have the following implications: First, a uniform CO 2 tax of approximately 300 DKK per ton CO 2 could reduce emissions by 20 per cent in a scenario with perfect competition in the energy sector. However, assuming different market structures in the energy sector influences the uniform CO 2 tax needed to reach a given emission target. In the paper we assume that the Danish energy sector is a natural monopoly regulated to comply with average cost pricing, but we also discuss alternative descriptions of imperfect competition. Second, the empirical arguments for differentiated CO 2 taxes motivated by imperfect energy markets are weak. This is in line with earlier international studies on environmental taxes and imperfect competition. Third, the Danish economy could benefit from a deregulation of the electricity and district heating sector with respect to welfare and economic activity. This result holds also if CO 2 emissions are kept constant. (au)

  18. Essays on liberalized energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Nese, Gjermund

    2003-07-01

    This thesis consists of four essays that aim at contributing to the understanding of some of the new challenges associated by the liberalized energy markets. More specifically the essays consider investments in energy generation projects; international trade of Green Certificates, market power in a Green Certificate system, and finally the behaviour of public firms in liberalized markets. Essay 1 considers energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price uncertainty on the choice of technology and the timing of the investment. It is shown that when the choice of technology is irreversible, it may be optimal to postpone the investment even if it would otherwise be optimal to invest in one or both of the plant types. We provide a numerical example based on cost estimates of two different power plant types. Essay 2 presents an analytical equilibrium model for simultaneously functioning international markets for electricity and Green Certificates is formulated. The percentage requirement is perceived as the policy instrument affecting the level of green electricity in end-use consumption. In none of the cases considered does an increase in the country's percentage requirement necessarily result in an increase in the generation of green electricity in that country, but it may have a positive effect on the trading partner's generation of green electricity. Further, under quite realistic assumptions, a country maximizes its generation of green electricity by setting the percentage requirement to zero. In essay 3 an analytic equilibrium model for a simultaneously functioning electricity market and a market for Green Certificates is formulated. The major focus of the paper is the effect of market power in a Green Certificate system. One of the main results is that the certificate system faced with market power

  19. Essays on liberalized energy markets

    International Nuclear Information System (INIS)

    Nese, Gjermund

    2003-01-01

    This thesis consists of four essays that aim at contributing to the understanding of some of the new challenges associated by the liberalized energy markets. More specifically the essays consider investments in energy generation projects; international trade of Green Certificates, market power in a Green Certificate system, and finally the behaviour of public firms in liberalized markets. Essay 1 considers energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price uncertainty on the choice of technology and the timing of the investment. It is shown that when the choice of technology is irreversible, it may be optimal to postpone the investment even if it would otherwise be optimal to invest in one or both of the plant types. We provide a numerical example based on cost estimates of two different power plant types. Essay 2 presents an analytical equilibrium model for simultaneously functioning international markets for electricity and Green Certificates is formulated. The percentage requirement is perceived as the policy instrument affecting the level of green electricity in end-use consumption. In none of the cases considered does an increase in the country's percentage requirement necessarily result in an increase in the generation of green electricity in that country, but it may have a positive effect on the trading partner's generation of green electricity. Further, under quite realistic assumptions, a country maximizes its generation of green electricity by setting the percentage requirement to zero. In essay 3 an analytic equilibrium model for a simultaneously functioning electricity market and a market for Green Certificates is formulated. The major focus of the paper is the effect of market power in a Green Certificate system. One of the main results is that the certificate system faced with market power may

  20. German energy market 2016

    International Nuclear Information System (INIS)

    Schiffer, Hans-Wilhelm; Weltenergierat, Berlin

    2017-01-01

    The basic orientation of the German energy supply to the increased use of renewable energies, while increasing energy efficiency, is prediscribed by the German government's energy concept and determines the market development. A current overview of the German energy market is given, which provides also this year a concentrated Compilation of the key data of the energy industry. As in the years before, the article not only summarizes general facts about the energy mix, but also goes into detail on the development of the individual energy sources, petroleum, natural gas, brown coal and hard coal, electricity as well as renewable energies. Furthermore, the price trends of international markets and in the domestic market are explained. A current overview of the development of greenhouse gas emissions concludes the contribution. [de

  1. Energy in transition. Between regulation and market

    International Nuclear Information System (INIS)

    Horzetzky, Guenther

    2016-01-01

    Actually, the energy industry is affected in a changing market environment. The expansion of the renewables led to a share of about 30 % of the German electricity production and is always rising. The renewables energy levy has reached a level of 6.35 Euro Cents per kWh, which is actually a high level. Investments in new power plants are stopped due to low market electricity prices. The market pressure on the utilities is high and their business models have to be scrutinised. The NRW state government supports the magic political triangle of a secure, affordable and environmentally friendly energy supply. Instead of further interventions we have to develop our existing energy system cautiously. Anything else would not meet the requirements for invests in the energy supply and the magic triangle of energy politics.

  2. Modelling of capital requirements in the energy sector: capital market access. Final memorandum

    Energy Technology Data Exchange (ETDEWEB)

    1978-04-01

    Formal modelling techniques for analyzing the capital requirements of energy industries have been performed at DOE. A survey has been undertaken of a number of models which forecast energy-sector capital requirements or which detail the interactions of the energy sector and the economy. Models are identified which can be useful as prototypes for some portion of DOE's modelling needs. The models are examined to determine any useful data bases which could serve as inputs to an original DOE model. A selected group of models are examined which can comply with the stated capabilities. The data sources being used by these models are covered and a catalog of the relevant data bases is provided. The models covered are: capital markets and capital availability models (Fossil 1, Bankers Trust Co., DRI Macro Model); models of physical capital requirements (Bechtel Supply Planning Model, ICF Oil and Gas Model and Coal Model, Stanford Research Institute National Energy Model); macroeconomic forecasting models with input-output analysis capabilities (Wharton Annual Long-Term Forecasting Model, Brookhaven/University of Illinois Model, Hudson-Jorgenson/Brookhaven Model); utility models (MIT Regional Electricity Model-Baughman Joskow, Teknekron Electric Utility Simulation Model); and others (DRI Energy Model, DRI/Zimmerman Coal Model, and Oak Ridge Residential Energy Use Model).

  3. The Energy Markets of the APEC Countries: Opportunities for Russia

    Directory of Open Access Journals (Sweden)

    Olga Valeryevna Dyomina

    2012-09-01

    Full Text Available The article evaluates the export possibilities of Russian energy resources to the markets of the APEC countries. The analysis is made with the help of the IEA Model of short-term energy security (MOSES Primary Energy Sources and Secondary Fuels. This model addresses four dimensions of energy security. These include external and domestic factors, reflecting both risk exposure and resilience, the ability of energy systems to adapt to or withstand disruptions. In MOSES countries with similar characteristics are grouped in the energy profiles (from A to E by each energy resource. Countries with profiles from B to E present potential markets for Russian energy resources, while countries with the profile A are our competitors. The most promising market of energy resources is China, but for Russia it is likely to become a monopsony market. The authors assume that Russia will retain its position with respect to the concluded long-term contracts for energy resources supply, but expectations about the formation of a large market niche are overestimated. The study concludes that Russia can strengthen its competitive positions due to the launch of complete products on the markets of the APEC countries, especially, due to the creation of new market niches on the basis of technological leadership

  4. Strategies for OPEC's pricing decisions. [Using model of world energy market

    Energy Technology Data Exchange (ETDEWEB)

    Gately, D; Kyle, J F; Fischer, D

    1977-11-01

    A model of the world energy market that incorporates price expectations and lagged adjustments of demand and supply is used to examine implications of various price-paths that could be selected by OPEC. After demonstrating the sensitivity of the results to changes in functional specifications and certain parameter values, the authors discuss a variety of rule-of-thumb pricing strategies under which OPEC sets prices in response to available market signals. A strategy that is relatively cautious about further major price increases serves OPEC relatively well in comparison with other stategies, but there exists a real possibility of major, abrupt price increases within the next ten years.

  5. Modeling prices of wholesale market of electric energy and power by the example of the UPS of the Ural

    Directory of Open Access Journals (Sweden)

    Mokhov V.G.

    2017-01-01

    Full Text Available The article oversees forecasting model for deviations of the balancing market index and day-ahead market index according to the maximum similarity sample for different levels of approximation in the context of positive and negative time-series value. The model was being tested on the factual data of the Integrated Power system of the Ural, Wholesale market for electricity and power of Russian Federation. Describes the price formation on the day-ahead market and the balancing market index. The necessity to use accurate forecasting methods consumption and prices of electrical energy and power to reduce penalties when the electric power industry entities on the energy exchange. The testing of mathematical models to predict the balancing market index deviations and day-ahead market based on a sample of maximum similarity with certain approximation equations for positive and negative values gave the prediction error of 3.3%.

  6. Coupled energy economic model framework for analyzing Swiss electricity markets in changing policy environments

    OpenAIRE

    Maire, Sophie

    2016-01-01

    Energy policy needs to rely on the proper understanding of the interactions between policy instruments, consumer preferences, investment behavior, market structure, electricity supply, and the wider policy environment. This asks for appropriate modeling tools, able to represent precisely electricity supply options, model all types of energy and climate policies, as well as the reactions of the rest of the economy. Chapter 2 describes the ELECTRA-CH framework, developed to analyze electrici...

  7. Stochastic programming and market equilibrium analysis of microgrids energy management systems

    International Nuclear Information System (INIS)

    Hu, Ming-Che; Lu, Su-Ying; Chen, Yen-Haw

    2016-01-01

    Microgrids facilitate optimum utilization of distributed renewable energy, provides better local energy supply, and reduces transmission loss and greenhouse gas emission. Because the uncertainty in energy demand affects the energy demand and supply system, the aim of this research is to develop a stochastic optimization and its market equilibrium for microgrids in the electricity market. Therefore, a two-stage stochastic programming model for microgrids and the market competition model are derived in this paper. In the stochastic model, energy demand and supply uncertainties are considered. Furthermore, a case study of the stochastic model is conducted to simulate the uncertainties on the INER microgrids in Taiwanese market. The optimal investment of the generators and batteries installation and operating strategies are determined under energy demand and supply uncertainties for the INER microgrids. The results show optimal investment and operating strategies for the current INER microgrids are also determined by the proposed two-stage stochastic model in the market. In addition, trade-off between the battery capacity and microgrids performance is investigated. Battery usage and power trading between the microgrids and main grid systems are the functions of battery capacity. - Highlights: • A two-stage stochastic programming model is developed for microgrids. • Market equilibrium analysis of microgrids is conducted. • A case study of the stochastic model is conducted for INER microgrids.

  8. How does Germany's green energy policy affect electricity market volatility? An application of conditional autoregressive range models

    International Nuclear Information System (INIS)

    Auer, Benjamin R.

    2016-01-01

    Based on a dynamic model for the high/low range of electricity prices, this article analyses the effects of Germany's green energy policy on the volatility of the electricity market. Using European Energy Exchange data from 2000 to 2015, we find rather high volatility in the years 2000–2009 but also that the weekly price range has significantly declined in the period following the year 2009. This period is characterised by active regulation under the Energy Industry Law (EnWG), the EU Emissions Trading Directive (ETD) and the Renewable Energy Law (EEG). In contrast to the preceding period, price jumps are smaller and less frequent (especially for day-time hours), implying that current policy measures are effective in promoting renewable energies while simultaneously upholding electricity market stability. This is because the regulations strive towards a more and more flexible and market-oriented structure which allows better integration of renewable energies and supports an efficient alignment of renewable electricity supply with demand. - Highlights: • We estimate a CARR model for German electricity price data. • We augment the model by dummies capturing important regulations. • We find a significant decline in the price range after the year 2009. • This implies effective price stabilisation by German energy policy.

  9. Economic effect of fusion in energy market. Economic impact of fusion deployment in energy market

    International Nuclear Information System (INIS)

    Konishi, Satoshi

    2002-01-01

    Energy model analysis estimates the significant contribution of fusion in the latter half of the century under the global environment constraints if it will be successfully developed and introduced into the market. The total possible economical impact of fusion is investigated from the aspect of energy cost savings, sales, and its effects on Gross Domestic Products. Considerable economical possibility will be found in the markets for fusion related devices, of currently developing countries, and for synthesized fuel. The value of fusion development could be evaluated from these possible economic impact in comparison with its necessary investment. (author)

  10. Carbon auctions, energy markets and market power: An experimental analysis

    International Nuclear Information System (INIS)

    Dormady, Noah C.

    2014-01-01

    This paper provides an experimental analysis of a simultaneous energy-emissions market under conditions of market power. The experimental design employs real-world institutional features; including stochastic demand, permit banking, inter-temporal (multi-round) dynamics, a tightening cap, and resale. The results suggest that dominant firms can utilize energy-emissions market linkages to simultaneously inflate the price of energy and suppress the price of emissions allowances. Whereas under prior market designs, regulators were concerned with dominant firms exercising their market power over the emissions market to exclude rivals and manipulate the permit market by hoarding permits; the results of this paper suggest that this strategy is less profitable to dominant firms in contemporary auction-based markets than strategic capacity withholding in the energy market and associated demand reduction in the emissions market. - Highlights: • Laboratory simulation of joint energy-emissions market. • Evaluates market power under collusion and real-world institutional features. • Dominant firms can exercise market power to inflate energy prices. • Dominant firms can exercise market power to suppress emissions prices. • Supply withholding is an implicit demand reduction in the emissions market

  11. Energy sector in conditions of market economy

    International Nuclear Information System (INIS)

    Schervashidze, N.

    1993-01-01

    The main dilemma of energy sector in market conditions is: regulation of the monopole producer and/or competition. There is no simple answer and the arguments for and against should be based on the macro economical determination of what kind of market is available for particular energy goods (perfect, monopolistic, oligopolistic, competition of monopolists) and what is the final purpose (improvement in efficiency, service, energy independence, regional development, etc.). Two polar models of economic management in energy sector are distinguished: 1) Free access to transfer net or competition between producers. 2) State regulation of the local monopolist. The experience of Great Britain and US are described as examples of both models. A special attention is paid to pricing methods at regulated monopole. 7 refs. (author)

  12. Contribution to modeling and dynamic risk hedging in energy markets

    International Nuclear Information System (INIS)

    Noufel, Frikha

    2010-12-01

    This thesis is concerned with probabilistic numerical problems about modeling, risk control and risk hedging motivated by applications to energy markets. The main tool is based on stochastic approximation and simulation methods. This thesis consists of three parts. The first one is devoted to the computation of two risk measures of the portfolio loss distribution L: the Value-at-Risk (VaR) and the Conditional Value-at-Risk (CVaR). This computation uses a stochastic algorithm combined with an adaptive variance reduction technique. The first part of this chapter deals with the finite dimensional case, the second part extends the results of the first part to the case of a path-dependency process and the last one deals low discrepancy sequences. The second chapter is devoted with risk minimizing hedging strategies in an incomplete market operating in discrete time using quantization based stochastic approximation. Theoretical results on CVaR hedging are presented then numerical aspects are addressed in a Markovian framework. The last part deals with joint modeling of Gas and Electricity spot prices. The multi-factor model presented is based on stationary Ornstein process with parameterized diffusion coefficient. (author)

  13. The Demand Side in Economic Models of Energy Markets: The Challenge of Representing Consumer Behavior

    Energy Technology Data Exchange (ETDEWEB)

    Krysiak, Frank C., E-mail: frank.krysiak@unibas.ch; Weigt, Hannes [Department of Business and Economics, University of Basel, Basel (Switzerland)

    2015-05-19

    Energy models play an increasing role in the ongoing energy transition processes either as tools for forecasting potential developments or for assessments of policy and market design options. In recent years, these models have increased in scope and scale and provide a reasonable representation of the energy supply side, technological aspects and general macroeconomic interactions. However, the representation of the demand side and consumer behavior has remained rather simplistic. The objective of this paper is twofold. First, we review existing large-scale energy model approaches, namely bottom-up and top-down models, with respect to their demand-side representation. Second, we identify gaps in existing approaches and draft potential pathways to account for a more detailed demand-side and behavior representation in energy modeling.

  14. The Demand Side in Economic Models of Energy Markets: The Challenge of Representing Consumer Behavior

    Directory of Open Access Journals (Sweden)

    Frank eKrysiak

    2015-05-01

    Full Text Available Energy models play an increasing role in the ongoing energy transition processes either as tools for forecasting potential developments or for assessments of policy and market design options. In recent years these models have increased in scope and scale and provide a reasonable representation of the energy supply side, technological aspects and general macroeconomic interactions. However, the representation of the demand side and consumer behavior has remained rather simplistic. The objective of this paper is twofold. First, we review existing large scale energy model approaches, namely bottom-up and top-down models, with respect to their demand side representation. Second, we identify gaps in existing approaches and draft potential pathways to account for a more detailed demand side and behavior representation in energy modeling.

  15. The Demand Side in Economic Models of Energy Markets: The Challenge of Representing Consumer Behavior

    International Nuclear Information System (INIS)

    Krysiak, Frank C.; Weigt, Hannes

    2015-01-01

    Energy models play an increasing role in the ongoing energy transition processes either as tools for forecasting potential developments or for assessments of policy and market design options. In recent years, these models have increased in scope and scale and provide a reasonable representation of the energy supply side, technological aspects and general macroeconomic interactions. However, the representation of the demand side and consumer behavior has remained rather simplistic. The objective of this paper is twofold. First, we review existing large-scale energy model approaches, namely bottom-up and top-down models, with respect to their demand-side representation. Second, we identify gaps in existing approaches and draft potential pathways to account for a more detailed demand-side and behavior representation in energy modeling.

  16. Modeling future U.S. forest sector market and trade impacts of expansion in wood energy consumption

    Science.gov (United States)

    Peter J. Ince; Andrew D. Kramp; Kenneth E. Skog; Do-il Yoo; V. Alaric Sample

    2011-01-01

    This paper describes an approach to modeling U.S. forest sector market and trade impacts of expansion in domestic wood energy consumption under hypothetical future U.S. wood biomass energy policy scenarios. The U.S. Forest Products Module (USFPM) was created to enhance the modeling of the U.S. forest sector within the Global Forest Products Model (GFPM), providing a...

  17. The Swedish Energy Market 2005

    International Nuclear Information System (INIS)

    2005-10-01

    The Swedish Energy Market, 2005 is an annual publication that presents information and statistics on the network based energy markets in Sweden, i.e. the markets for electricity, natural gas and district heating. It also provides an overview of the issues that have arisen on these markets during the second half of 2004 and the first half of 2005. Considerable work is being carried out in the EU on creating a single market for electricity and natural gas. This publication therefore describes expansion of the Swedish market towards a Nordic and a European market. The publication normally includes a theme chapter, describing some event of particular interest for the Swedish energy market during the year. This year, the theme chapter is devoted to the Storm Gudrun, which struck the south of the country at the beginning of January, and its effects on electricity supply throughout the country. The chapter is based on the report submitted to the Government by the Energy Markets Inspectorate in the spring of 2005, and also includes a summary of the Inspectorate's proposals for measures to improve the security of electricity transmission. Energy in Sweden, which is another of the Swedish Energy Agency's annual publications, provides information and statistics on the development of the entire Swedish energy system

  18. Energy Efficiency Market Report 2013: Market Trends and Medium-Term Prospects

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2013-07-01

    Energy efficiency has been referred to as a ''hidden fuel'', one that extends energy supplies, increases energy security, lowers carbon emissions and generally supports sustainable economic growth. Yet it is hiding in plain sight: in 2011, investments in the energy efficiency market globally were at a similar scale to those in renewable energy or fossil-fuel power generation. The Energy Efficiency Market Report provides a practical basis for understanding energy efficiency market activities, a review of the methodological and practical challenges associated with measuring the market and its components, and statistical analysis of energy efficiency and its impact on energy demand. It also highlights a specific technology sector in which there is significant energy efficiency market activity, in this instance appliances and ICT. The report presents a selection of country case studies that illustrate current energy efficiency markets in specific sectors, and how they may evolve in the medium term. The energy efficiency market is diffuse, varied and involves all energy-consuming sectors of the economy. A comprehensive overview of market activity is complicated by the challenges associated with quantifying the components of the market and the paucity of comparable reported data. This report underscores how vital high-quality and timely energy efficiency data is to understanding this market.

  19. Energy Sector Market Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Arent, D.; Benioff, R.; Mosey, G.; Bird, L.; Brown, J.; Brown, E.; Vimmerstedt, L.; Aabakken, J.; Parks, K.; Lapsa, M.; Davis, S.; Olszewski, M.; Cox, D.; McElhaney, K.; Hadley, S.; Hostick, D.; Nicholls, A.; McDonald, S.; Holloman, B.

    2006-10-01

    This paper presents the results of energy market analysis sponsored by the Department of Energy's (DOE) Weatherization and International Program (WIP) within the Office of Energy Efficiency and Renewable Energy (EERE). The analysis was conducted by a team of DOE laboratory experts from the National Renewable Energy Laboratory (NREL), Oak Ridge National Laboratory (ORNL), and Pacific Northwest National Laboratory (PNNL), with additional input from Lawrence Berkeley National Laboratory (LBNL). The analysis was structured to identify those markets and niches where government can create the biggest impact by informing management decisions in the private and public sectors. The analysis identifies those markets and niches where opportunities exist for increasing energy efficiency and renewable energy use.

  20. Modern Energy Markets Real-Time Pricing, Renewable Resources and Efficient Distribution

    CERN Document Server

    Kopsakangas-Savolainen, Maria

    2012-01-01

    Energy has moved to the forefront in terms of societal and economic development. Modern Energy Markets is a comprehensive, economically oriented, exploration of modern electricity networks from production and distribution to deregulation and liberalization processes. Updating previous work by the authors, different aspects are considered resulting in a complete and detailed picture of  the systems and characteristics of modern electricity markets. Modern Energy Markets provides clear detail whilst encompassing a broad scope of topics and includes: •A method to model energy production systems including the main characteristics of future demand side management, •Different applications of this model in nuclear and renewable energy scenarios, •An analysis of Real-Time Pricing of electricity and its potential effects across the market, and, •A discussion of the need for regulation in an easily monopolized industry. Engineering and Economics students alike will find that Modern Energy Markets is a succinct...

  1. The Swedish Energy Market 2005

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2005-10-01

    The Swedish Energy Market, 2005 is an annual publication that presents information and statistics on the network based energy markets in Sweden, i.e. the markets for electricity, natural gas and district heating. It also provides an overview of the issues that have arisen on these markets during the second half of 2004 and the first half of 2005. Considerable work is being carried out in the EU on creating a single market for electricity and natural gas. This publication therefore describes expansion of the Swedish market towards a Nordic and a European market. The publication normally includes a theme chapter, describing some event of particular interest for the Swedish energy market during the year. This year, the theme chapter is devoted to the Storm Gudrun, which struck the south of the country at the beginning of January, and its effects on electricity supply throughout the country. The chapter is based on the report submitted to the Government by the Energy Markets Inspectorate in the spring of 2005, and also includes a summary of the Inspectorate's proposals for measures to improve the security of electricity transmission. Energy in Sweden, which is another of the Swedish Energy Agency's annual publications, provides information and statistics on the development of the entire Swedish energy system.

  2. Energy market and reserve market modeling in simultaneous and serial implementation methods with the aim of reducing electricity costs

    Directory of Open Access Journals (Sweden)

    Ramin Ghoraba

    2012-01-01

    Full Text Available In competitive electricity markets, power needed for the network’s reserve is purchased from the ancillary service market. In this market, producing units and buyers alike announce their offers. As will be seen, energy market and reserve market implementation is possible with simultaneous method and serial method by choosing each of the methods based on the type of market and other conditions. In this paper, the energy market and the active power reserve market are simulated in two formations as serial and simultaneous for a uniform pricing system. In each method, limitations of transferring power over the lines, based on available transfer capacity (ATC, is considered alongside the other constraints in the energy market and the active power reserve market. Then, during network overload, economic dispatch is accomplished between winner units in the reserve market by using a linear optimization problem, and needed power is provided from these units at a minimal cost. Finally, our proposed methods are implemented on an IEEE 39-bus test system and results are analyzed.

  3. Market conditions affecting energy efficiency investments

    International Nuclear Information System (INIS)

    Seabright, J.

    1996-01-01

    The global energy efficiency market is growing, due in part to energy sector and macroeconomic reforms and increased awareness of the environmental benefits of energy efficiency. Many countries have promoted open, competitive markets, thereby stimulating economic growth. They have reduced or removed subsidies on energy prices, and governments have initiated energy conservation programs that have spurred the wider adoption of energy efficiency technologies. The market outlook for energy efficiency is quite positive. The global market for end-use energy efficiency in the industrial, residential and commercial sectors is now estimated to total more than $34 billion per year. There is still enormous technical potential to implement energy conservation measures and to upgrade to the best available technologies for new investments. For many technologies, energy-efficient designs now represent less than 10--20% of new product sales. Thus, creating favorable market conditions should be a priority. There are a number of actions that can be taken to create favorable market conditions for investing in energy efficiency. Fostering a market-oriented energy sector will lead to energy prices that reflect the true cost of supply. Policy initiatives should address known market failures and should support energy efficiency initiatives. And market transformation for energy efficiency products and services can be facilitated by creating an institutional and legal structure that favors commercially-oriented entities

  4. Energie-Nederland. Financial and economic impact of a changing energy market

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2013-03-15

    A detailed study of the Dutch power market has been carried out, including an assessment of the financial implications for conventional power plants. This study is to provide insight into the potential implications of the 16% RES (renewable energy sources) target without prescribing a particular scenario or outcome, or suggesting possible solutions. The study focuses on the potential financial and economic impact of meeting the RES target under different market scenarios. Also, the potential impact on security of supply and the need for flexible back-up capacity in the period 2013-2020 are assessed. Furthermore, an analysis is performed of potential market prices that are required for the economic feasibility of flexible back-up generation capacity with a very limited load factor. For the assessment of the financial impact of a changing energy market, the Dutch power market is modelled under various scenarios. Use has been made of a detailed model of Northwest Europe, in which all power stations, interconnections, and constraints (i.e. RES potential) are accounted for. In all scenarios, the 16% RES target is a binding constraint in that model. This means the model determines the least-cost option to meet this target, including wind onshore and offshore (up to the limit estimated by ECN), dedicated biomass and co-firing of biomass, and other sources such as solar.

  5. Residential/commercial market for energy technologies

    Energy Technology Data Exchange (ETDEWEB)

    Glesk, M M

    1979-08-01

    The residential/commercial market sector, particularly as it relates to energy technologies, is described. Buildings account for about 25% of the total energy consumed in the US. Market response to energy technologies is influenced by several considerations. Some considerations discussed are: industry characteristics; market sectors; energy-consumption characeristics; industry forecasts; and market influences. Market acceptance may be slow or nonexistent, the technology may have little impact on energy consumption, and redesign or modification may be necessary to overcome belatedly perceived market barriers. 7 figures, 20 tables.

  6. Market penetration rates of new energy technologies

    International Nuclear Information System (INIS)

    Lund, Peter

    2006-01-01

    The market penetration rates of 11 different new energy technologies were studied covering energy production and end-use technologies. The penetration rates were determined by fitting observed market data to an epidemical diffusion model. The analyses show that the exponential penetration rates of new energy technologies may vary from 4 up to over 40%/yr. The corresponding take-over times from a 1% to 50% share of the estimated market potential may vary from less than 10 to 70 years. The lower rate is often associated with larger energy impacts. Short take-over times less than 25 years seem to be mainly associated with end-use technologies. Public policies and subsides have an important effect on the penetration. Some technologies penetrate fast without major support explained by technology maturity and competitive prices, e.g. compact fluorescent lamps show a 24.2%/yr growth rate globally. The penetration rates determined exhibit some uncertainty as penetration has not always proceeded close to saturation. The study indicates a decreasing penetration rate with increasing time or market share. If the market history is short, a temporally decreasing functional form for the penetration rate coefficient could be used to anticipate the probable behavior

  7. Renewable energy investment: Policy and market impacts

    International Nuclear Information System (INIS)

    Reuter, Wolf Heinrich; Szolgayová, Jana; Fuss, Sabine; Obersteiner, Michael

    2012-01-01

    Highlights: ► Feedback of decisions to the market: large companies can have an impact on prices in the market. ► Multiple uncertainties: analysis of uncertainties emanating from both markets and environment. ► Policy analysis: impact of uncertainty about the durability of feed-in tariffs. -- Abstract: The liberalization of electricity markets in recent years has enhanced competition among power-generating firms facing uncertain decisions of competitors and thus uncertain prices. At the same time, promoting renewable energy has been a key ingredient in energy policy seeking to de-carbonize the energy mix. Public incentives for companies to invest in renewable technologies range from feed-in tariffs, to investment subsidies, tax credits, portfolio requirements and certificate systems. We use a real options model in discrete time with lumpy multiple investments to analyze the decisions of an electricity producer to invest into new power generating capacity, to select the type of technology and to optimize its operation under price uncertainty and with market effects. We account for both the specific characteristics of renewables and the market effects of investment decisions. The prices are determined endogenously by the supply of electricity in the market and by exogenous electricity price uncertainty. The framework is used to analyze energy policy, as well as the reaction of producers to uncertainty in the political and regulatory framework. In this way, we are able to compare different policies to foster investment into renewables and analyze their impacts on the market.

  8. Impact of global financial crisis on stylized facts between energy markets and stock markets

    Science.gov (United States)

    Leng, Tan Kim; Cheong, Chin Wen; Hooi, Tan Siow

    2014-06-01

    Understanding the stylized facts is extremely important and has becomes a hot issue nowadays. However, recent global financial crisis that started from United States had spread all over the world and adversely affected the commodities and financial sectors of both developed and developing countries. This paper tends to examine the impact of crisis on stylized facts between energy and stock markets using ARCH-family models based on the experience over 2008 global financial crisis. Empirical results denote that there is long lasting, persists and positively significant the autocorrelation function of absolute returns and their squares in both markets for before and during crisis. Besides that, leverage effects are found in stock markets whereby bad news has a greater impact on volatility than good news for both before and during crisis. However, crisis does not indicate any impact on risk-return tradeoff for both energy and stock markets. For forecasting evaluations, GARCH model and FIAPARCH model indicate superior out of sample forecasts for before and during crisis respectively.

  9. 'Normal' markets, market imperfections and energy efficiency

    International Nuclear Information System (INIS)

    Sanstad, A.H.; Howarth, R.B.

    1994-01-01

    The conventional distinction between 'economic' and 'engineering' approaches to energy analysis obscures key methodological issues concerning the measurement of the costs and benefits of policies to promote the adoption of energy-efficient technologies. The engineering approach is in fact based upon firm economic foundations: the principle of lifecycle cost minimization that arises directly from the theory of rational investment. Thus, evidence that so-called 'market barriers' impede the adoption of cost-effective energy-efficient technologies implies the existence of market failures as defined in the context of microeconomic theory. A widely held view that the engineering view lacks economic justification, is based on the fallacy that markets are 'normally' efficient. (author)

  10. Sustainable design options for the German electricity market. A comparison of the energy-only market with capacity markets

    International Nuclear Information System (INIS)

    Keles, Dogan; Renz, Lea; Bublitz, Andreas; Zimmermann, Florian; Genoese, Massimo; Fichtner, Wolf

    2016-01-01

    This study intensively discusses the further developments of the electricity market design in Germany based on substantial scientific insights. For this purpose, an agent-based simulation model is applied to evaluate the operability of the energy only market extended with a strategic reserve. Furthermore, the effects of the implementation of a centralized or decentralized capacity market are analyzed.

  11. Four essays on market power in energy economics

    Energy Technology Data Exchange (ETDEWEB)

    Hansen, Petter Vegard

    2008-07-01

    Market power in energy markets is discussed intensively in both academic and public arenas. There has been an intense energy debate on market power at least since the Organization of Petroleum Exporting Countries (OPEC) exercised its market power and caused the 'oil crisis' of the 1970s, and again following the deregulation of electricity markets at the beginning of the 1990s. However, this debate is not new. In 1911, for example, the US Supreme Court divided Standard Oil into 34 separate companies using antitrust law. With increasing energy prices and the ongoing process of liberalization of electricity markets throughout the world, the topic is still relevant for future markets. The four essays in this dissertation discuss specific aspects of market power in energy markets. The first essay concerns the crude oil market, and the remaining three essays relate to market power in the Nordic and Norwegian electricity markets. In the first essay, a multi-equation dynamic econometric model tests whether the behaviour of OPEC, as a whole or as different subgroups, is consistent with the behaviour of dominant producers in the world crude oil market. The second essay is a theoretical work that introduces uncertainty in inflow to the discussion of market power in hydropower markets by analysing the effects of uncertainty in inflow on market performance under alternative assumptions about market structure. In the third essay, high-frequency data are used to analyse how price signals from the spot market affect end-user demand in the Norwegian and Swedish electricity markets. Finally, in the fourth essay, retailer and household behaviour in the Norwegian electricity market are analysed using detailed information on prices and other market characteristics. In the following section, I provide highlights from a general discussion of market power in order to set the essays included in this dissertation in context. (Author). refs., figs., tabs

  12. On the environmental impact of energy market liberalisation

    International Nuclear Information System (INIS)

    Van Soest, D.P.; De Groot, H.L.F.

    2000-01-01

    In the literature, attention has been paid to the environmental consequences of lower energy prices caused by market liberalisation: the drop in energy prices reduces the attractiveness of investing in energy-saving technologies. In this paper we develop a simple model of investment decision-making emphasising the importance of not only levels but also volatility of energy prices for actual investment behaviour. The general finding is that lower energy prices and higher uncertainty reduce the propensity to invest. To empirically assess the importance of changes in both levels and volatility, we use US natural gas price data over the market liberalisation period and apply the information to the investment decision with respect to a specific energy-saving technology in the paper industry. We find that energy market liberalisation reduces the propensity to invest in energy-saving technologies substantially, not only because of the lower energy price but also because of its increased volatility. 12 refs

  13. Petroleum Market Model of the National Energy Modeling System. Part 2

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-12-18

    This report contains the following: Bibliography; Petroleum Market Model abstract; Data quality; Estimation methodologies (includes refinery investment recovery thresholds, gas plant models, chemical industry demand for methanol, estimation of refinery fixed costs, estimation of distribution costs, estimation of taxes gasoline specifications, estimation of gasoline market shares, estimation of low-sulfur diesel market shares, low-sulfur diesel specifications, estimation of regional conversion coefficients, estimation of SO{sub 2} allowance equations, unfinished oil imports methodology, product pipeline capacities and tariffs, cogeneration methodology, natural gas plant fuel consumption, and Alaskan crude oil exports); Matrix generator documentation; Historical data processing; and Biofuels supply submodule.

  14. Modelling and analysis of global coal markets

    International Nuclear Information System (INIS)

    Trueby, Johannes

    2013-01-01

    International Steam Coal Trade. In this paper, we analyse steam coal market equilibria in the years 2006 and 2008 by testing for two possible market structure scenarios: perfect competition and an oligopoly setup with major exporters competing in quantities. The assumed oligopoly scenario cannot explain market equilibria for any year. While we find that the competitive model simulates market equilibria well in 2006, the competitive model is not able to reproduce real market outcomes in 2008. The analysis shows that not all available supply capacity was utilised in 2008. We conclude that either unknown capacity bottlenecks or more sophisticated non-competitive strategies were the cause for the high prices in 2008. Chapter 4 builds upon the findings of the analysis in chapter 3 and adds a more detailed representation of domestic markets. The corresponding essay is titled Nations as Strategic Players in Global Commodity Markets: Evidence from World Coal Trade. In this chapter we explore the hypothesis that export policies and trade patterns of national players in the steam coal market are consistent with non-competitive market behaviour. We test this hypothesis by developing a static equilibrium model which is able to model coal producing nations as strategic players. We explicitly account for integrated seaborne trade and domestic markets. The global steam coal market is simulated under several imperfect market structure setups. We find that trade and prices of a China - Indonesia duopoly fits the real market outcome best and that real Chinese export quotas in 2008 were consistent with simulated exports under a Cournot-Nash strategy. Chapter 5 looks at the long-term effect of Chinese energy system planning decisions. The time horizon is 2006 to 2030. The analysis in this chapter combines a dynamic equilibrium model with the scenario analysis technique. The corresponding essay is titled Coal Lumps vs. Electrons: How Do Chinese Bulk Energy Transport Decisions Affect the Global

  15. Modelling and analysis of global coal markets

    Energy Technology Data Exchange (ETDEWEB)

    Trueby, Johannes

    2013-01-17

    International Steam Coal Trade. In this paper, we analyse steam coal market equilibria in the years 2006 and 2008 by testing for two possible market structure scenarios: perfect competition and an oligopoly setup with major exporters competing in quantities. The assumed oligopoly scenario cannot explain market equilibria for any year. While we find that the competitive model simulates market equilibria well in 2006, the competitive model is not able to reproduce real market outcomes in 2008. The analysis shows that not all available supply capacity was utilised in 2008. We conclude that either unknown capacity bottlenecks or more sophisticated non-competitive strategies were the cause for the high prices in 2008. Chapter 4 builds upon the findings of the analysis in chapter 3 and adds a more detailed representation of domestic markets. The corresponding essay is titled Nations as Strategic Players in Global Commodity Markets: Evidence from World Coal Trade. In this chapter we explore the hypothesis that export policies and trade patterns of national players in the steam coal market are consistent with non-competitive market behaviour. We test this hypothesis by developing a static equilibrium model which is able to model coal producing nations as strategic players. We explicitly account for integrated seaborne trade and domestic markets. The global steam coal market is simulated under several imperfect market structure setups. We find that trade and prices of a China - Indonesia duopoly fits the real market outcome best and that real Chinese export quotas in 2008 were consistent with simulated exports under a Cournot-Nash strategy. Chapter 5 looks at the long-term effect of Chinese energy system planning decisions. The time horizon is 2006 to 2030. The analysis in this chapter combines a dynamic equilibrium model with the scenario analysis technique. The corresponding essay is titled Coal Lumps vs. Electrons: How Do Chinese Bulk Energy Transport Decisions Affect the Global

  16. Pricing and Hedging Quanto Options in Energy Markets

    DEFF Research Database (Denmark)

    Benth, Fred Espen; Lange, Nina; Myklebust, Tor Åge

    approach we derive a closed form option pricing formula for energy quanto options, under the assumption that the underlying assets are log-normally distributed. Our approach encompasses several interesting cases, such as geometric Brownian motions and multifactor spot models. We also derive delta and gamma......In energy markets, the use of quanto options have increased significantly in the recent years. The payoff from such options are typically written on an underlying energy index and a measure of temperature and are suited for managing the joint price and volume risk in energy markets. Using an HJM...... expressions for hedging. Furthermore, we illustrate the use of our model by an empirical pricing exercise using NYMEX traded natural gas futures and CME traded Heating Degree Days futures for New York....

  17. New Brunswick Market Design Committee : market design issues paper : choice of market model

    International Nuclear Information System (INIS)

    2001-01-01

    A model for the competitive electricity market in New Brunswick was not specified by the White Paper: New Brunswick Energy Policy, published in March 2001. One of the tasks of the Market Design Committee (MDC) is to select a market model for the province. This report was prepared with this objective in mind. It begins by providing a description of the basic functions that must be performed by any electricity system. Different market models will function differently, and a descriptions of how the functions would be performed under each model is presented. Considering the specific size and geographic location of New Brunswick, a number of actual markets that could be of interest are presented. The various electricity markets normally use one of four market models: vertically integrated monopoly utility, a competitive pool market, a bilateral contract market, and a single-buyer market. The first model was not explained as it represents the existing, non-competitive model whereby the government owns and/or regulates price and investment decision. The case where a market operator receives bids and offers from buyers and sellers and matches them to derive a price and schedule for the spot market is what is called the competitive pool market. When electricity trade takes place through a series of contracts between individual buyers and sellers, it is referred to as a bilateral contract market. Finally, the single-buyer market is defined as a monopoly where the buyer purchases from multiple sellers based on competition amongst them. Different examples are provided of applications of the three markets described in the paper. Both New England and New Zealand were chosen to better illustrate the concepts of a fully competitive pool-based market, as they either have close ties to New Brunswick, or share physical similarities. The single-buyer model is illustrated by the case of Northern Ireland where size is similar. The choices made in Quebec were described in the final

  18. EIA model documentation: Petroleum Market Model of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1994-12-30

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. Documentation of the model is in accordance with EIA`s legal obligation to provide adequate documentation in support of its models (Public Law 94-385, section 57.b.2). The PMM models petroleum refining activities, the marketing of products, the production of natural gas liquids and domestic methanol, projects petroleum provides and sources of supplies for meeting demand. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption.

  19. About the Need of Combining Power Market and Power Grid Model Results for Future Energy System Scenarios

    Science.gov (United States)

    Mende, Denis; Böttger, Diana; Löwer, Lothar; Becker, Holger; Akbulut, Alev; Stock, Sebastian

    2018-02-01

    The European power grid infrastructure faces various challenges due to the expansion of renewable energy sources (RES). To conduct investigations on interactions between power generation and the power grid, models for the power market as well as for the power grid are necessary. This paper describes the basic functionalities and working principles of both types of models as well as steps to couple power market results and the power grid model. The combination of these models is beneficial in terms of gaining realistic power flow scenarios in the grid model and of being able to pass back results of the power flow and restrictions to the market model. Focus is laid on the power grid model and possible application examples like algorithms in grid analysis, operation and dynamic equipment modelling.

  20. The India market for sustainable energy

    International Nuclear Information System (INIS)

    Bakthavatsalam, V.

    2000-01-01

    Sustainable and qualitative growth of developing economics and habitats require increased energy input from renewable sources. To mainstream these innovative options, we need to continue to develop cost-effective renewable energy technologies, to focus our efforts on replicable innovative institutional and financial models which are based on cost recovery principles and fostering private partnerships to enable the developing countries to use these technologies. In response to these challenges the points energy policy, energy conservation, marketing, promoting energy conservation and efficient management are discussed

  1. Arbitrage free pricing of forward and futures in the energy market

    International Nuclear Information System (INIS)

    Kloster, Kristian

    2003-01-01

    This thesis will describe a method for an arbitrage-free evaluation of forward and futures contracts in the Nordic electricity market. This is a market where it is not possible to hedge using the underlying asset which one normally would do. The electricity market is a relatively new market, and is less developed than the financial markets. The pricing of energy and energy derivatives are depending on factors like production, transport, storage etc. There are different approaches when pricing a forward contract in an energy market. With motivation from interest rate theory, one could model the forward prices directly in the risk neutral world. Another approach is to start out with a model for the spot prices in the physical world, and then derive theoretical forward prices, which then are fitted to observed forward prices. These and other approaches are described by Clewlow and Strickland in their book, Energy derivatives. This thesis uses the approach where I start out with a model for the spot price, and then derive theoretical forward prices. I use a generalization of the multifactor Schwartz model with seasonal trends and Ornstein Uhlenbeck processes to model the spot prices for electricity. This continuous-time model also incorporates mean-reversion, which is an important aspect of energy prices. Historical data for the spot prices is used to estimate my variables in the multi-factor Schwartz model. Then one can specify arbitrage-free prices for forward and futures based on the Schwartz model. The result from this procedure is a joint spot and forward price model in both the risk neutral and physical market, together with knowledge of the equivalent martingale measure chosen by the market. This measure can be interpreted as the market price of risk, which is of interest for risk management. In this setup both futures and forward contracts will have the same pricing dynamics, as the only difference between the two types of contracts is how the payment for the

  2. Market performance and distributional effects on renewable energy markets

    International Nuclear Information System (INIS)

    Koutstaal, P.; Bijlsma, M.; Zwart, G.; Van Tilburg, X.; Ozdemir, O.

    2009-08-01

    A renewable obligation (RO) combined with tradable renewable energy certificates is a market-based instrument used to promote the production of electricity from renewable energy sources. A renewable obligation is an alternative for subsidies. A renewable obligation will only be an efficient instrument if certificate markets are efficient. This requires that there is no market power and no anti-competitive behaviour on the certificate market. If the current developments in Dutch renewable energy production continue, market power on a future renewable certificate market in the Netherlands will probably not be an issue, even if the RO should only rest on the retail market instead of on the whole electricity market. A renewable obligation will raise the retail price for consumers, thereby reducing consumer surplus. Simulations show that the retail electricity price increases with 30 euro per MWh to a level of 104 euro per MWh in case of a 30% renewable target. Consumer surplus is reduced with 19% compared to the baseline scenario. In contrast, a subsidy such as the Dutch SDE (Promoting Renewable Energy scheme or 'Stimulering Duurzame Energie') which is financed from the state budget has the effect to (slightly) lower the retail electricity price, thereby increasing consumer surplus. It should however be realised that the costs of the subsidy will indirectly affect electricity consumers through their tax payments.

  3. Green Power Grids: How Energy from Renewable Sources Affects Networks and Markets.

    Science.gov (United States)

    Mureddu, Mario; Caldarelli, Guido; Chessa, Alessandro; Scala, Antonio; Damiano, Alfonso

    2015-01-01

    The increasing attention to environmental issues is forcing the implementation of novel energy models based on renewable sources. This is fundamentally changing the configuration of energy management and is introducing new problems that are only partly understood. In particular, renewable energies introduce fluctuations which cause an increased request for conventional energy sources to balance energy requests at short notice. In order to develop an effective usage of low-carbon sources, such fluctuations must be understood and tamed. In this paper we present a microscopic model for the description and for the forecast of short time fluctuations related to renewable sources in order to estimate their effects on the electricity market. To account for the inter-dependencies in the energy market and the physical power dispatch network, we use a statistical mechanics approach to sample stochastic perturbations in the power system and an agent based approach for the prediction of the market players' behavior. Our model is data-driven; it builds on one-day-ahead real market transactions in order to train agents' behaviour and allows us to deduce the market share of different energy sources. We benchmarked our approach on the Italian market, finding a good accordance with real data.

  4. Green Power Grids: How Energy from Renewable Sources Affects Networks and Markets.

    Directory of Open Access Journals (Sweden)

    Mario Mureddu

    Full Text Available The increasing attention to environmental issues is forcing the implementation of novel energy models based on renewable sources. This is fundamentally changing the configuration of energy management and is introducing new problems that are only partly understood. In particular, renewable energies introduce fluctuations which cause an increased request for conventional energy sources to balance energy requests at short notice. In order to develop an effective usage of low-carbon sources, such fluctuations must be understood and tamed. In this paper we present a microscopic model for the description and for the forecast of short time fluctuations related to renewable sources in order to estimate their effects on the electricity market. To account for the inter-dependencies in the energy market and the physical power dispatch network, we use a statistical mechanics approach to sample stochastic perturbations in the power system and an agent based approach for the prediction of the market players' behavior. Our model is data-driven; it builds on one-day-ahead real market transactions in order to train agents' behaviour and allows us to deduce the market share of different energy sources. We benchmarked our approach on the Italian market, finding a good accordance with real data.

  5. Pollution Under Environmental Regulation in Energy Markets

    CERN Document Server

    Gullì, Francesco

    2013-01-01

    Pollution Under Environmental Regulation in Energy Markets provides a study of environmental regulation when energy markets are imperfectly competitive. This theoretical treatment focuses on three relevant cases of energy markets. First, the residential space heating sector where hybrid regulation such as taxation and emissions trading together are possible. Second, the electricity market where transactions are organized in the form of multi-period auctions. Third, namely natural gas (input) and electricity (output) markets where there is combined imperfect competition in vertical related energy markets.   The development of free or low carbon technologies supported by energy policies, aiming at increasing security of supply, is also explored whilst considering competition policies that reduce market power in energy markets thus improving market efficiency. Pollution Under Environmental Regulation in Energy Markets discusses the key issues of whether imperfect competition can lessen the ability of environmen...

  6. Pricing and Hedging Quanto Options in Energy Markets

    DEFF Research Database (Denmark)

    Benth, Fred Espen; Lange, Nina; Myklebust, Tor Åge

    2015-01-01

    –Jarrow–Morton approach, we derive a closed-form option pricing formula for energy quanto options under the assumption that the underlying assets are lognormally distributed. Our approach encompasses several interesting cases, such as geometric Brownian motions and multifactor spot models. We also derive Delta and Gamma......In energy markets, the use of quanto options has increased significantly in recent years. The payoff from such options are typically written on an underlying energy index and a measure of temperature. They are suited to managing the joint price and volume risk in energy markets. Using a Heath...... expressions for hedging. Further, we illustrate the use of our model by an empirical pricing exercise using NewYork Mercantile Exchange-traded natural gas futures and Chicago Mercantile Exchange-traded heating degree days futures for NewYork....

  7. Market introduction of renewable energy technologies

    International Nuclear Information System (INIS)

    1997-01-01

    On 11 and 12 November 1997 the VDI Society for Energy Technology (VDI-GET) held a congress in Neuss on the ''Market introduction of renewable energy technologies'' The focal topics of the congress were as follows: market analyses for renewable energy technologies, the development of markets at home and abroad, and the framework conditions governing market introduction. Specifically it dealt with the market effects of national and international introduction measures, promotion programmes and their efficiency, the legal framework conditions governing market introduction, advanced and supplementary training, market-oriented research (e.g., for cost reduction), and improved marketing [de

  8. Petroleum Market Model of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-01-01

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. The PMM models petroleum refining activities, the marketing of petroleum products to consumption regions. The production of natural gas liquids in gas processing plants, and domestic methanol production. The PMM projects petroleum product prices and sources of supply for meeting petroleum product demand. The sources of supply include crude oil, both domestic and imported; other inputs including alcohols and ethers; natural gas plant liquids production; petroleum product imports; and refinery processing gain. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption. Product prices are estimated at the Census division level and much of the refining activity information is at the Petroleum Administration for Defense (PAD) District level. This report is organized as follows: Chapter 2, Model Purpose; Chapter 3, Model Overview and Rationale; Chapter 4, Model Structure; Appendix A, Inventory of Input Data, Parameter Estimates, and Model Outputs; Appendix B, Detailed Mathematical Description of the Model; Appendix C, Bibliography; Appendix D, Model Abstract; Appendix E, Data Quality; Appendix F, Estimation methodologies; Appendix G, Matrix Generator documentation; Appendix H, Historical Data Processing; and Appendix I, Biofuels Supply Submodule.

  9. Petroleum Market Model of the National Energy Modeling System

    International Nuclear Information System (INIS)

    1997-01-01

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. The PMM models petroleum refining activities, the marketing of petroleum products to consumption regions. The production of natural gas liquids in gas processing plants, and domestic methanol production. The PMM projects petroleum product prices and sources of supply for meeting petroleum product demand. The sources of supply include crude oil, both domestic and imported; other inputs including alcohols and ethers; natural gas plant liquids production; petroleum product imports; and refinery processing gain. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption. Product prices are estimated at the Census division level and much of the refining activity information is at the Petroleum Administration for Defense (PAD) District level. This report is organized as follows: Chapter 2, Model Purpose; Chapter 3, Model Overview and Rationale; Chapter 4, Model Structure; Appendix A, Inventory of Input Data, Parameter Estimates, and Model Outputs; Appendix B, Detailed Mathematical Description of the Model; Appendix C, Bibliography; Appendix D, Model Abstract; Appendix E, Data Quality; Appendix F, Estimation methodologies; Appendix G, Matrix Generator documentation; Appendix H, Historical Data Processing; and Appendix I, Biofuels Supply Submodule

  10. Decision modelling tools for utilities in the deregulated energy market

    Energy Technology Data Exchange (ETDEWEB)

    Makkonen, S. [Process Vision Oy, Helsinki (Finland)

    2005-07-01

    This thesis examines the impact of the deregulation of the energy market on decision making and optimisation in utilities and demonstrates how decision support applications can solve specific encountered tasks in this context. The themes of the thesis are presented in different frameworks in order to clarify the complex decision making and optimisation environment where new sources of uncertainties arise due to the convergence of energy markets, globalisation of energy business and increasing competition. This thesis reflects the changes in the decision making and planning environment of European energy companies during the period from 1995 to 2004. It also follows the development of computational performance and evolution of energy information systems during the same period. Specifically, this thesis consists of studies at several levels of the decision making hierarchy ranging from top-level strategic decision problems to specific optimisation algorithms. On the other hand, the studies also follow the progress of the liberalised energy market from the monopolistic era to the fully competitive market with new trading instruments and issues like emissions trading. This thesis suggests that there is an increasing need for optimisation and multiple criteria decision making methods, and that new approaches based on the use of operations research are welcome as the deregulation proceeds and uncertainties increase. Technically, the optimisation applications presented are based on Lagrangian relaxation techniques and the dedicated Power Simplex algorithm supplemented with stochastic scenario analysis for decision support, a heuristic method to allocate common benefits and potential losses of coalitions of power companies, and an advanced Branch- and-Bound algorithm to solve efficiently nonconvex optimisation problems. The optimisation problems are part of the operational and tactical decision making process that has become very complex in the recent years. Similarly

  11. Essays on market design and strategic behaviour in energy markets

    International Nuclear Information System (INIS)

    Lorenczik, Stefan

    2017-01-01

    The thesis at hand consists of four essays which are divided into two parts. In the first part, consisting of the first two essays, market design issues in electricity markets are discussed. More precisely, it deals with concerns regarding security of supply: First, the concerns regarding the availability of sufficient flexibility to cope with intermittent renewable energy electricity generation. And second, the consequences of insufficient investments signals in energy only markets in interconnected electricity markets. Part two deals with strategic behaviour in spatial natural resource markets. Strategic behaviour and the exertion of market power have always been a matter of concern in energy markets, especially in natural resource markets. The exertion of market power can result in deadweight losses - regulatory bodies try to address this by market regulations aiming for a welfare maximising market outcome. The first problem is to detect collusive behaviour as available data is frequently limited. The second question is how regulatory decisions may influence the market outcome. Both topics are investigated by using the example of the international metallurgical coal market.

  12. Essays on market design and strategic behaviour in energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Lorenczik, Stefan

    2017-11-13

    The thesis at hand consists of four essays which are divided into two parts. In the first part, consisting of the first two essays, market design issues in electricity markets are discussed. More precisely, it deals with concerns regarding security of supply: First, the concerns regarding the availability of sufficient flexibility to cope with intermittent renewable energy electricity generation. And second, the consequences of insufficient investments signals in energy only markets in interconnected electricity markets. Part two deals with strategic behaviour in spatial natural resource markets. Strategic behaviour and the exertion of market power have always been a matter of concern in energy markets, especially in natural resource markets. The exertion of market power can result in deadweight losses - regulatory bodies try to address this by market regulations aiming for a welfare maximising market outcome. The first problem is to detect collusive behaviour as available data is frequently limited. The second question is how regulatory decisions may influence the market outcome. Both topics are investigated by using the example of the international metallurgical coal market.

  13. Stochastic optimization of energy hub operation with consideration of thermal energy market and demand response

    International Nuclear Information System (INIS)

    Vahid-Pakdel, M.J.; Nojavan, Sayyad; Mohammadi-ivatloo, B.; Zare, Kazem

    2017-01-01

    Highlights: • Studying heating market impact on energy hub operation considering price uncertainty. • Investigating impact of implementation of heat demand response on hub operation. • Presenting stochastic method to consider wind generation and prices uncertainties. - Abstract: Multi carrier energy systems or energy hubs has provided more flexibility for energy management systems. On the other hand, due to mutual impact of different energy carriers in energy hubs, energy management studies become more challengeable. The initial patterns of energy demands from grids point of view can be modified by optimal scheduling of energy hubs. In this work, optimal operation of multi carrier energy system has been studied in the presence of wind farm, electrical and thermal storage systems, electrical and thermal demand response programs, electricity market and thermal energy market. Stochastic programming is implemented for modeling the system uncertainties such as demands, market prices and wind speed. It is shown that adding new source of heat energy for providing demand of consumers with market mechanism changes the optimal operation point of multi carrier energy system. Presented mixed integer linear formulation for the problem has been solved by executing CPLEX solver of GAMS optimization software. Simulation results shows that hub’s operation cost reduces up to 4.8% by enabling the option of using thermal energy market for meeting heat demand.

  14. Liberalisation of the Dutch energy market

    International Nuclear Information System (INIS)

    Cace, J.; Zijlstra, G. J.

    2003-01-01

    The process of liberalisation of the Dutch energy market started in 1998 and will be completed in 2004 by opening the energy market to households and small enterprises. The fundaments of the open market are determined by the Electricity Law from 1998 and the Gas Law from 2000. The green electricity market was opened in July 2001 as a part of the environment protection package. A number of additional legal regulations, codes, procedures and agreements were developed in order to guarantee equal opportunities for all participants, create the market transparency, guarantee the continuity of supply and protect the consumer. These documents were developed by the 'Platform Versnelling Energieliberalisering', PVE (Platform for the acceleration of the liberalisation process). All relevant players from the energy market, including the major consumers, are represented in this advisory body. In the new market situation, the grid operators carry the essential responsibilities within the energy supply system. They are providing the technical security, registering the energy exchange through their grid and are generating the billing and the balance control information for suppliers and transport system operators respectively. The suppliers are the primary contact for the consumers. The complexity of the energy market liberalisation is aggravated by the difference in fundamental choices for the electricity and gas market. Electricity market is based on regulated third party access (TPA) and gas market is based on negotiated TPA. A lack of awareness of the necessity of an adequate information system appeared to be the most the most significant hurdle in establishing the open energy market. (author)

  15. Bundling and mergers in energy markets

    International Nuclear Information System (INIS)

    Granier, Laurent; Podesta, Marion

    2010-01-01

    Does bundling trigger mergers in energy industries? We observe mergers between firms belonging to various energy markets, for instance between gas and electricity providers. These mergers enable firms to bundle. We consider two horizontally differentiated markets. In this framework, we show that bundling strategies in energy markets create incentives to form multi-market firms in order to supply bi-energy packages. Moreover, we find that this type of merger is detrimental to social welfare. (author)

  16. About the development strategies of power plant in energy market

    Science.gov (United States)

    Duinea, Adelaida Mihaela

    2017-12-01

    The paper aims at identifying and assessing the revenues and costs incurred by various modernization and modernization-development strategies for a power plant in order to optimize the electric and thermal energy are produced and to conduct a sensitivity analysis of the main performance indicators. The Romanian energy system and the energy market have gone a long transition way, from the vertically integrated model, the responsibility for the delivery of the electricity comes exclusively to a state monopoly, to a decentralized system, characterized by the decentralization of production and transport, respectively distribution activities. Romania chose the liberal market model where the relations between the actors in the market - producers and suppliers free to make sales and purchase transactions for electrical energy - are mostly governed by contracts, which may be either bilaterally negotiated or are already regulated. Therefore, the importance of understanding the development trend of the Romanian energy market lies in its economic effects upon the solutions which could be adopted for the evolution of the cogeneration power plant in question.

  17. Can the regulated market help foster a free market for wind energy in Brazil?

    International Nuclear Information System (INIS)

    Dalbem, Marta Corrêa; Brandão, Luiz Eduardo Teixeira; Gomes, Leonardo Lima

    2014-01-01

    Wind energy has been negotiated in Brazil's regulated market through auctions organized by the government. Bilateral negotiations in the free market have been scarce. In 2011 wind farms were allowed to bid in ‘A minus 5 (A−5)' auctions, for energy with first delivery date 5 years ahead. This new design was expected to stimulate negotiations in the free market, as the 20-year contract in the regulated market eases financing while the 5-year grace period grants wind farms the option to sell whatever energy is generated beforehand in the free market. We modeled bidders' price decision in A−5 auctions as Real Options and concluded that given the low prices averaging USD 50/MW h, winners are tempted to defer investment, expecting more favorable equipment and energy prices, or a better knowledge of the wind site. Construction is likely to begin in 2–3 years, with little time left for the free market. Bidders that consider the option of eventually abandoning the project are more price competitive, increasing chances that some wind farms will never materialize. Therefore, this attempt to foster the free market may not pay-off and, moreover, it may have the unfavorable effect of turning Brazil's energy expansion planning a more difficult task. - Highlights: • Tight auction prices make winners exercise options to defer construction. • Investors that consider the option to abandon the project tend to win the auction. • High chances of default, when investors take abandonment options into account. • Auctioning wind farms for energy delivery 5 yr later will not foster a free market

  18. Market survey of the state of affairs in the Dutch energy market

    International Nuclear Information System (INIS)

    2010-09-01

    The aim of this market survey: to get insight in the knowledge, perception and behavior of consumers in relation to the energy market; to offer insight in developments in aforementioned aspects; to get insight in the effectiveness of the actions of the Dutch Office of Energy Regulation. Derived purposes/functions of the research include: an own measuring instrument for the Office of Energy Regulation, which makes them less dependent on other parties for obtaining data on the energy market; enabling periodical contact with the consumer and sounding out the mood on the energy market. The target can be translated into the following research questions: To what extent are consumers informed about the energy market, or to what extent do they know how to access relevant information?; To what extent is the energy market transparent in the eyes of the consumer?; How much confidence do consumers have in the energy market?; How do people judge the service provision of the energy companies?. [nl

  19. A Mulit-State Model for Catalyzing the Home Energy Efficiency Market

    Energy Technology Data Exchange (ETDEWEB)

    Blackmon, Glenn

    2014-03-25

    The RePower Kitsap partnership sought to jump-start the market for energy efficiency upgrades in Kitsap County, an underserved market on Puget Sound in Washington State. The Washington State Department of Commerce partnered with Washington State University (WSU) Energy Program to supplement and extend existing utility incentives offered by Puget Sound Energy (PSE) and Cascade Natural Gas and to offer energy efficiency finance options through the Kitsap Credit Union and Puget Sound Cooperative Credit Union (PSCCU). RePower Kitsap established a coordinated approach with a second Better Buildings Neighborhood Program project serving the two largest cities in the county – Bainbridge Island and Bremerton. These two projects shared both the “RePower” brand and implementation team (Conservation Services Group (CSG) and Earth Advantage).

  20. A leader-followers model of transmission augmentation for considering strategic behaviours of generating companies in energy markets

    International Nuclear Information System (INIS)

    Hesamzadeh, M.R.; Hosseinzadeh, N.; Wolfs, P.J.

    2010-01-01

    This paper suggests an integrated mathematical framework developed based on the leader-followers game for augmentation of transmission networks. Transmission Network Service Provider moves first and designs the horizon year transmission system. Generating Companies compete for having the highest share from the energy market and they find their equilibrium point using the Nash equilibrium concept. Finally, Market Management Company receives the planning schedule of transmission system and the energy offer prices and clears the market. In addition to the exact mathematical modelling of the interested players of transmission planning problem, the methodology can design the future transmission system not only for improving the system social welfare but also for encouraging competition among horizon year generating companies. (author)

  1. Niche energy markets in rural areas

    International Nuclear Information System (INIS)

    Walsh, M.; McCarthy, S.

    1996-01-01

    The objective of this project is the development of a standard methodology for integrating non-food crops in rural areas with niche energy markets. This has involved a number of steps including (i) identification of 3 niche markets for energy crops which are of common interest to the partners, (ii) application of the standard costing methodology to investigate these three niche markets and (iii) comparison of the results from this work in three workshops (one for each market). Three tightly defined niche markets were identified; these were chosen following an examination of the national energy marekts in each of the partners countries (Ireland, Germany, Netherlands, UK, Greece and Portugal). This paper gives an overview of the national energy markets which were examined. The three niche markets are introduced and the reasons for their selection given. The application of the methodology to each of the niche markets is presented along with the conclusions of the partners regarding the niche markets. (Author)

  2. The energy market model. What is the space for smart grid service concepts; Het energiemarktmodel. Wat is de ruimte voor smart grid dienstverleningsconcepten?

    Energy Technology Data Exchange (ETDEWEB)

    Kieft, A.; Niesten, E.; Alkemade, F. [Universiteit Utrecht, Utrecht (Netherlands); Maandag, M. [DNV Kema, Arnhem (Netherlands); Van Melle, T.; Haaksma, V. [Ecofys, Utrecht (Netherlands); Van Beek, K. [Stedin, Rotterdam (Netherlands)

    2013-02-15

    The report provides starters in the Dutch energy market an overview of how the current model, focusing on centralized power generation, works. The report also shows how the energy market model should work to promote decentralized renewable electricity production and new smart grid services. It also discusses in detail questions about the energy market model various actors might have [Dutch] Het rapport geeft starters op de Nederlandse energiemarkt een overzicht hoe het huidige model, gericht op centrale elektriciteitsproductie, in elkaar steekt. Ook laat het rapport zien hoe het energiemarktmodel zou moeten werken om decentrale duurzame elektriciteitsproductie en nieuwe smart grid diensten te bevorderen. Daarbij wordt uitgebreid ingegaan op vragen over het energiemarktmodel die leven bij verschillende actoren.

  3. Directory of Energy Information Administration models 1996

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-07-01

    This directory revises and updates the Directory of Energy Information Administration Models 1995, DOE/EIA-0293(95), Energy Information Administration (EIA), U.S. Department of Energy, July 1995. Four models have been deleted in this directory as they are no longer being used: (1) Market Penetration Model for Ground-Water Heat Pump Systems (MPGWHP); (2) Market Penetration Model for Residential Rooftop PV Systems (MPRESPV-PC); (3) Market Penetration Model for Active and Passive Solar Technologies (MPSOLARPC); and (4) Revenue Requirements Modeling System (RRMS).

  4. The influence of distributed generation penetration levels on energy markets

    International Nuclear Information System (INIS)

    Vahl, Fabrício Peter; Rüther, Ricardo; Casarotto Filho, Nelson

    2013-01-01

    Planning of national energy policies brings new dilemmas with the introduction of distributed generators (DG). Economic theory suggests that a perfectly competitive market would lead to efficient pricing. In the absence of competition, regulators play a fundamental role in attracting reasonably priced finance in order to maintain, refurbish and increase the infrastructure and provide services at a reasonable cost. Energy market price equilibrium is mainly dependent on suppliers, generators, energy sources and demand, represented by conventional utility grid users. Its behavior is similar to that of other commodities. As generation becomes less centralized with the increasing economic viability of renewable energy sources, new suppliers are being connected to the grid. Such evolution means the transition from a monopolistic market to a broader and more open environment, with an increasing number of competitors. We make use of variational inequalities to model a hypothetical DG market in different scenarios, from monopoly, to oligopoly, to open market. Such an approach enables different equilibrium outcomes due to different DG penetration levels. Based on these findings, we argue that energy policies for such markets must be developed according to each specific stage of the grid's lifecycle. We show how energy policies and market regulations may affect such a transition, which may be catastrophic if not managed properly, and which is dependent on the energy mix. -- Highlights: •DG affects energy markets depending on technologies, penetration and infrastructure. •Energy prices vary when the market moves from centralized to several suppliers. •Variational inequalities are presented to simulate a market under such transitions. •The increase of DG penetration level may present different energy prices variation. •If technical and political issues of smart grids are not improved, markets may crash

  5. Market penetration analysis of fuel cell vehicles in Japan by using the energy system model MARKAL

    International Nuclear Information System (INIS)

    Endo, Eiichi

    2007-01-01

    The objective of the present work is to validate the hydrogen energy roadmap of Japan by analyzing the market penetration of fuel cell vehicles (FCVs) and the effects of a carbon tax using an energy system model of Japan based on MARKAL. The results of the analysis show that a hydrogen FCV would not be cost competitive until 2050 without a more severe carbon tax than the government's planned 2400 JPY/t-C carbon tax. However, as the carbon tax rate increases, instead of conventional vehicles including the gasoline hybrid electric vehicle, hydrogen FCVs gain market penetration earlier and more. By assuming a more severe carbon tax rate, such as 10 000 JPY/t-C, the market share of hydrogen FCVs approaches the governmental goal. This suggests that cheaper vehicle cost and hydrogen cost than those targeted in the roadmap should be attained or subsidies to hydrogen FCV and hydrogen refueling station will be necessary for achieving the goal of earlier market penetration. (author)

  6. Northeast Solar Energy Market Coalition (NESEMC)

    Energy Technology Data Exchange (ETDEWEB)

    Rabago, Karl R. [Pace Energy and Climate Center Pace University School of Law

    2018-03-31

    The Northeast Solar Energy Market Coalition (NESEMC) brought together solar energy business associations and other stakeholders in the Northeast to harmonize regional solar energy policy and advance the solar energy market. The Coalition was managed by the Pace Energy and Climate Center, a project of the Pace University Elisabeth Haub School of Law. The NESEMC was funded by the U.S. Department of Energy SunShot Initiative as a cooperative agreement through 2017 as part of Solar Market Pathways.

  7. The internal energy market

    International Nuclear Information System (INIS)

    1988-01-01

    The briefs compile the results of the studies the Commission worked out on the subject on the basis of experiences gained on its own part, on the part of the government and on the part of the market. The briefs are based on the schematic inventory annexed which for each energy sector points out the different existing or potential obstacles to a common energy market the most comprehensive and transparent way possible. Step by step part one and part two discuss the general problems connected with the integration of energy into the internal market, priorities which according to the Commission should be investigated into, and guidelines for such investigations. (orig./UA) [de

  8. Evaluating Energy Efficiency Policies with Energy-Economy Models

    Energy Technology Data Exchange (ETDEWEB)

    Mundaca, Luis; Neij, Lena; Worrell, Ernst; McNeil, Michael A.

    2010-08-01

    The growing complexities of energy systems, environmental problems and technology markets are driving and testing most energy-economy models to their limits. To further advance bottom-up models from a multidisciplinary energy efficiency policy evaluation perspective, we review and critically analyse bottom-up energy-economy models and corresponding evaluation studies on energy efficiency policies to induce technological change. We use the household sector as a case study. Our analysis focuses on decision frameworks for technology choice, type of evaluation being carried out, treatment of market and behavioural failures, evaluated policy instruments, and key determinants used to mimic policy instruments. Although the review confirms criticism related to energy-economy models (e.g. unrealistic representation of decision-making by consumers when choosing technologies), they provide valuable guidance for policy evaluation related to energy efficiency. Different areas to further advance models remain open, particularly related to modelling issues, techno-economic and environmental aspects, behavioural determinants, and policy considerations.

  9. Smart market. From smart grid to the intelligent energy market; Smart Market. Vom Smart Grid zum intelligenten Energiemarkt

    Energy Technology Data Exchange (ETDEWEB)

    Aichele, Christian [Hochschule Kaiserslautern, Zweibruecken (Germany). Fachbereich Betriebswirtschaft; Doleski, Oliver D. (ed.)

    2014-07-01

    Dare more market. - The design of this postulate provides an important contribution to the success of the German energy transition. The Bundesnetzagentur has shown with its highly regarded benchmark paper on smart grids and markets leads the way towards more market in the energy sector. The therein required differentiation in a network and market sphere contributes to greater transparency on the consumer side and enables a gid releaving shift in energy consumption. The book focuses on actors and roles in the modified market circumstances as well as components and products of a future Smart Markets. Finally, to the reader concrete business models are offered. Authors from science and practice give in this book answers on how the interaction of Smart Grid and Smart Market works. [German] Mehr Markt wagen. - Die Ausgestaltung dieses Postulats liefert einen wichtigen Beitrag zum Gelingen der deutschen Energiewende. Die Bundesnetzagentur hat mit ihrem vielbeachteten Eckpunktepapier zu intelligenten Netzen und Maerkten diesen Weg in Richtung mehr Markt in der Energiewirtschaft gewiesen. Die darin geforderte Differenzierung in eine Netz- und Marktsphaere traegt zu mehr Transparenz auf der Verbraucherseite bei und ermoeglicht eine netzentlastende Verlagerung des Energieverbrauchs. Das Buch beleuchtet Akteure und Rollen im geaenderten Marktumfeld ebenso wie Komponenten und Produkte eines zukuenftigen Smart Markets. Schliesslich werden dem Leser konkrete Geschaeftsmodelle angeboten. Autoren aus Wissenschaft und Praxis geben in diesem Buch Antworten darauf, wie das Zusammenspiel von Smart Grid und Smart Market funktioniert.

  10. The green electricity market model. Proposal for an optional, cost-neutral direct marketing model for supplying electricity customers

    International Nuclear Information System (INIS)

    Heinemann, Ronald

    2014-01-01

    One of the main goals of the Renewable Energy Law (EEG) is the market integration of renewable energy resources. For this purpose it has introduced compulsory direct marketing on the basis of a moving market premium. At the same time the green electricity privilege, a regulation which made it possible for customers to be supplied with electricity from EEG plants, has been abolished without substitution with effect from 1 August 2014. This means that, aside from other direct marketing channels, which will not be economically viable save for in a few exceptional cases, it will no longer be possible in future to sell electricity from EEG plants to electricity customers under the designation ''electricity from renewable energy''. The reason for this is that electricity sold under the market premium model can no longer justifiably be said to originate from renewable energy. As a consequence, almost all green electricity products sold in Germany carry a foreign green electricity certificate.

  11. Energy economics and financial markets

    Energy Technology Data Exchange (ETDEWEB)

    Dorsman, Andre [Vrije Univ. Amsterdam (Netherlands). Dept. of Finance; Simpson, John L. [Curtin Univ., Perth, WA (Australia). School of Economics and Finance; Westerman, Wim (eds.) [Groningen Univ. (Netherlands). Faculty of Economics and Business Economics, Econometrics and Finance

    2013-10-01

    Deals with the upcoming theme of energy issues. Links energy issues with economics and financial markets. Combines global focus with specific regional and local examples. Unites theoretical insights with timely data and practical insights. Specialized author team from all over the world. Energy issues feature frequently in the economic and financial press. Specific examples of topical energy issues come from around the globe and often concern economics and finance. The importance of energy production, consumption and trade raises fundamental economic issues that impact the global economy and financial markets. This volume presents research on energy economics and financial markets related to the themes of supply and demand, environmental impact and renewables, energy derivatives trading, and finance and energy. The contributions by experts in their fields take a global perspective, as well as presenting cases from various countries and continents.

  12. Renewable Energy Policies and Market Developments

    International Nuclear Information System (INIS)

    Van Dijk, A.L.; Beurskens, L.W.M.; Boots, M.G.; Kaal, M.B.T.; De Lange, T.J.; Van Sambeek, E.J.W.; Uyterlinde, M.A.

    2003-03-01

    Reviews and an analysis of the policy support for the stimulation of renewable electricity in the current energy market are presented, and an overview is given of the main new developments influencing the renewable energy market. The report is part of the analysis phase of the project REMAC 2000, which has led to the publication of a roadmap for the acceleration of the RE market. REMAC 2000 aims to promote a sustainable growth of the renewable energy market. For such a sustainable growth, important success factors are not only effectiveness of policy, but also security for investors, which is essential for building up a sector and developing the renewable energy market. Consistency of regulations and policies at different levels and between policy fields form a condition for security, as does the active involvement of market stakeholders. Further, the increasing role of trade within the energy and renewable energy sector leads to a priority for international coherence of policies and markets. To guarantee a sustainable growth of the renewable energy sector, a broad perspective of policy makers and planners is required- to include a long time frame, a comprehensive view of related policy fields and authorities involved, and an orientation that looks beyond national borders

  13. Nuclearelectrica - a player on the Romanian energy market

    International Nuclear Information System (INIS)

    Chirica, T.; Metes, M.; Havris, A.

    2001-01-01

    Nuclearelectrica operates at Cernavoda NPP a CANDU 6 unit. The production performances and some technical indicators are presented. The paper introduces the players of the new-born Romanian energy market, where Nuclearelectrica acts as a significant producer, and. gives a short description of the current market mechanisms. The specific features of a producer operating a single nuclear unit, related to both technical and economical terms, are itemized; they are considered in the market rules issued by the Romanian Electricity Regulatory Authority - ANRE. Following these rules, Nuclearelectrica concluded with Electrica, the main energy supplier to final consumers, a long-term energy wholesale contract for all the generated by Cernavoda 1 electricity, based on the so-called Power Purchase Agreement model, where a large part of the risk related to the power sales is borne by the buyer. On the same time, the existing conditions on the Romanian market proved the competitiveness of Cernavoda unit as an energy producer; hence, the above-mentioned contract provides a futile over-protection to the NPP facing the market risks. The paper presents also the critical issue of the collection of revenues for the sold electricity and the company's approach in allotting this limited revenues. In light of the completion of Unit 2 of the Cernavoda NPP, the company's strategy considers new possible contracts, with eligible customers and energy exports.(author)

  14. Evaluating energy efficiency policies with energy-economy models

    NARCIS (Netherlands)

    Mundaca, L.; Neij, L.; Worrell, E.; McNeil, M.

    2010-01-01

    The growing complexities of energy systems, environmental problems, and technology markets are driving and testing most energy-economy models to their limits. To further advance bottom-up models from a multidisciplinary energy efficiency policy evaluation perspective, we review and critically

  15. Integration of liberalised energy market

    International Nuclear Information System (INIS)

    Klinge Jacobsen, H.; Fristrup, P.; Munksgaard, J.; Pade, L.L.; Henriksen, T.C.

    2004-03-01

    The markets for electricity, natural gas and district heating are inter-linked both with respect to the energy flows and with respect to ownership of supply sources and infrastructure. The extent and the possible consequences of these linkages are examined in this report. The options for public interventions in these markets are analysed to compare instruments with respect to their ability to provide the necessary incentives for an efficient functioning of the liberalised markets. Aspects of retail markets with households facing multi-product distribution companies and aspects of the production of combined heat and power based on natural gas has been covered. This project identifies some important aspects related to final consumers and the interaction of markets with different types of regulation and scope for liberalisation. From a Danish perspective the district heat market and the dependence on market conditions for natural gas is a specific concern. Consumer concerns also relate to the creation of multi-product energy distribution companies that are privately owned and possibly controlled by foreign interests. Such companies might use bundled sales of energy products to extent their dominant position in one market e.g. a regulated heat market to a market with considerable competition (electricity). Bundled sales would not necessarily result in a loss for the consumer due to economies of scope in supplying energy products. However, the regulatory authorities responsible for district heat prices will have a more complicated job in surveying the bundled price setting. Integration of activities within natural gas distribution and CHP production has been analysed with respect to incentives and welfare implications. Results of the project point to critical market conditions and identify areas of concern for regulatory policies. The analysis shows that there is a large welfare loss associated with having monopolies in both natural gas supplies and the CHP production

  16. Market Brief. Status of the Voluntary Renewable Energy Certificate Market (2011 Data)

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Armstrong, Philip [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2012-09-01

    This report documents the status and trends of U.S. 'voluntary' markets -- those in which consumers and institutions purchase renewable energy to match their electricity needs on a voluntary basis. Voluntary REC markets continue to exhibit growth and spur renewable energy development. Voluntary green power markets provide an additional revenue stream for renewable energy projects and raise consumer awareness of the benefits of renewable energy. Although a full estimate of the size of the voluntary market is not available for 2011, this review uses indicative metrics to capture 2011 voluntary market trends.

  17. Market Brief: Status of the Voluntary Renewable Energy Certificate Market (2011 Data)

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, J.; Armstrong, P.; Bird, L.

    2012-09-01

    This report documents the status and trends of U.S. 'voluntary' markets -- those in which consumers and institutions purchase renewable energy to match their electricity needs on a voluntary basis. Voluntary REC markets continue to exhibit growth and spur renewable energy development. Voluntary green power markets provide an additional revenue stream for renewable energy projects and raise consumer awareness of the benefits of renewable energy. Although a full estimate of the size of the voluntary market is not available for 2011, this review uses indicative metrics to capture 2011 voluntary market trends.

  18. International Voluntary Renewable Energy Markets (Presentation)

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, J.

    2012-06-01

    This presentation provides an overview of international voluntary renewable energy markets, with a focus on the United States and Europe. The voluntary renewable energy market is the market in which consumers and institutions purchase renewable energy to match their electricity needs on a voluntary basis. In 2010, the U.S. voluntary market was estimated at 35 terawatt-hours (TWh) compared to 300 TWh in the European market, though key differences exist. On a customer basis, Australia has historically had the largest number of customers, pricing for voluntary certificates remains low, at less than $1 megawatt-hour, though prices depend on technology.

  19. EU Energy Market and Regulation enter a new Framework: Energy Union

    International Nuclear Information System (INIS)

    Sencar, M.

    2015-01-01

    Energy Union provides a new framework for market and regulation. This contribution discusses its main elements (dimensions), in particular energy market functioning. Energy Union adds some new focal points to its development, e.g. research and innovation, in addition to sustainability. Energy Union also aims at improving customers position on the market, and paves the way for efficiency enhancements in regulation and market monitoring at European level. Three aspects of potential future improvements are discussed how the existing Agency for the Cooperation of Energy Regulators may further contribute to the efficient market functioning and implementation of planned infrastructure investment. (author).

  20. Econometric models for distinguishing between market-driven and publicly-funded energy efficiency

    International Nuclear Information System (INIS)

    Horowitz, Marvin J.

    2005-01-01

    Central to the problem of estimating energy program benefits is the necessity to differentiate between changes in energy use that would have occurred in the absence of public programs versus declines in energy use that would not have occurred but for public programs. The former changes are often referred to as naturally-occurring or market-driven effects. They occur due to a combination of one or more independent variables, such as changes in prices, incomes, weather, and technology. For a rigorous, scientifically-valid program evaluation, it is essential to first control for these variables before making statistical inferences related to public program effects. This paper describes the economic and statistical issues surrounding quantitative studies of energy use, energy efficiency, and public programs. To illustrate the strengths and weaknesses of different impact evaluation approaches, this paper describes three new studies related to electricity use in the U. S. commercial buildings sector. Specification and estimation of time series and cross section econometric models are discussed, as are their capabilities for obtaining long-run estimates of the net impacts of energy efficiency programs

  1. Interactions between the German Electricity Spot Market and the Reserve Energy Market

    International Nuclear Information System (INIS)

    Graeber, Bernhardt

    2005-01-01

    Eight years after market opening, Germany has well established spot and future markets for electricity. Besides OTC and Internet broker platforms the main market place is the European Energy Exchange in Leipzig (EEX) with its spot and future market. Less known is the reserve energy market in Germany. The four German transmission system operators (TSOs) EnBW, EON, RWE and Vattenfall purchase network services on the reserve energy market. Products with specific technical requirements are primary, secondary and tertiary reserve. (Details about the technical requirements and typical means for providing the required services will be presented.) Each TSO organises a separate auction for these products - for primary and secondary reserve half-yearly, for tertiary reserve daily. Due to the technical requirements the liquidity on these markets is limited, but especially on the tertiary reserve market it is recently growing significantly due to new participants marketing several smaller municipal and industrial reserve power plants as combined bids which meet the 30 MW min. capacity requirement. Every power plant or interruptible load could not only be offered as capacity on the reserve market but could also be dispatched for the spot market. Therefore the developments of prices on these markets are not independent and opportunity costs against the spot market can be estimated for different type of plants bidding in the reserve market. Another interaction between reserve and spot market is caused by the balancing price system in Germany. Prices for balancing energy meeting deviations between load, trading balance and production of a market participant are based on quarter-hourly reserve energy costs encountered by the TSO. As unbiased load and production forecasts are not strictly enforced by the TSOs so far, part of the planned demand could be met with balancing energy if EEX spot market prices rise above expected balancing energy prices. This interrelationship has a

  2. Modeling of battery energy storage in the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    Swaminathan, S.; Flynn, W.T.; Sen, R.K. [Sentech, Inc., Bethesda, MD (United States)

    1997-12-01

    The National Energy Modeling System (NEMS) developed by the U.S. Department of Energy`s Energy Information Administration is a well-recognized model that is used to project the potential impact of new electric generation technologies. The NEMS model does not presently have the capability to model energy storage on the national grid. The scope of this study was to assess the feasibility of, and make recommendations for, the modeling of battery energy storage systems in the Electricity Market of the NEMS. Incorporating storage within the NEMS will allow the national benefits of storage technologies to be evaluated.

  3. Model documentation coal market module of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-03-01

    This report documents the approaches used in developing the Annual Energy Outlook 1995 (AEO95). This report catalogues and describes the assumptions, methodology, estimation techniques, and source code of the coal market module`s three submodules. These are the Coal Production Submodule (CPS), the Coal Export Submodule (CES), the Coal Expert Submodule (CES), and the Coal Distribution Submodule (CDS).

  4. Model documentation coal market module of the National Energy Modeling System

    International Nuclear Information System (INIS)

    1995-03-01

    This report documents the approaches used in developing the Annual Energy Outlook 1995 (AEO95). This report catalogues and describes the assumptions, methodology, estimation techniques, and source code of the coal market module's three submodules. These are the Coal Production Submodule (CPS), the Coal Export Submodule (CES), the Coal Expert Submodule (CES), and the Coal Distribution Submodule (CDS)

  5. Market and Policy Barriers to Energy Storage Deployment

    Energy Technology Data Exchange (ETDEWEB)

    Bhatnagar, Dhruv [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States); Currier, Aileen [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States); Hernandez, Jacquelynne [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States); Ma, Ookie [Dept. of Energy (DOE), Washington DC (United States) Office of Energy Efficiency and Renewable Energy; Kirby, Brendan [Consultant

    2013-09-01

    Electric energy storage technologies can provide numerous grid services; there are a number of factors that restrict their current deployment. The most significant barrier to deployment is high capital costs, though several recent deployments indicate that capital costs are decreasing and energy storage may be the preferred economic alternative in certain situations. However, a number of other market and regulatory barriers persist, limiting further deployment. These barriers can be categorized into regulatory barriers, market (economic) barriers, utility and developer business model barriers, cross-cutting barriers and technology barriers.

  6. Competition on European energy markets

    International Nuclear Information System (INIS)

    Lijesen, M.; Speck, S; Mulder, M.

    2003-01-01

    The launch of the Directives on Electricity and Gas in the late 1990s was the starting point for creating common and competitive energy markets in the European Union. The main goal of this process was to increase efficiency of allocation of resources and, hence,enhance consumer welfare. More specifically, increasing competition within the energy markets should lead to a reduction of energy prices and to a convergence of prices among EU member states. Within a year from now, end-users in the Netherlands will be free to choose their own supplier, thus finalising the deregulation of Dutch energy markets. What lessons may be learned from the experience thus far? What are the results of the liberalisation process up to now? How have prices developed,and can these developments be explained? How afraid should we be for the lights to go out in a competitive electricity market?

  7. Financing clean energy market creation. Clean energy ventures, venture capitalists and other investors

    Energy Technology Data Exchange (ETDEWEB)

    Teppo, T. [Helsinki Univ. of Technology, Espoo (Finland). Development and Management in Industry

    2006-07-01

    Many factors have emerged for change towards cleaner and more efficient technologies and services: climate change, increasing oil demands, and rising living standards in many parts of the world are putting an ever-increasing strain on the environment. Recently, these drivers have fueled the formation of a clean energy venture capital market where both independent venture capitalists (VCs) and corporate venture capitalists (CVCs) have invested in clean energy start-ups. Financing of clean energy market creation is the focus of this dissertation. The dissertation contributes to several bodies of literature in the area of entrepreneurship, new industry creation, corporate venturing, and venture capital research. The dissertation uses a grounded theory approach. The study is guided by three data collection approaches with an emphasis on the first two. First, interviews with European and North American VC and CVC firms that have invested in the clean energy sector were carried out. Second, a clean energy venture financing survey that consisted of qualitative, essay-format questions and some quantitative questions was carried out. Third, interviews with clean energy stakeholders were carried out in order to gain a better understanding of the emerging sector. The research results consist of three main findings. First, the research results suggest that clean energy ventures face the following three main entrepreneurial challenges: financing, market education, and growth management. A further study of three clean energy industry categories revealed additional challenges that varied according to the industry development stage. Second, the results demonstrate that, from a venture capitalist perspective, clean energy venture risk characteristics can be divided into two groups: generally recognized risk characteristics and cognitive risk characteristics. The identified generally recognized risk characteristics were market demand and adaptation, incompatibility with the VC model

  8. Energy challenges of the Single Market

    International Nuclear Information System (INIS)

    Blakey, S.

    1991-01-01

    The Single Market Initiatives promise to reshape many areas of western Europe's energy markets. They will entail a number of changes for the Continent's oil, gas, electricity, and coal businesses. Some of those changes promise to improve market efficiency, others threaten to restrict it. Current negotiations could have a particularly far-reaching impact on western Europe's gas markets, which according to some reports, do not require any alternations. While western Europe's energy industry makes ready for the single market, eastern Europe's energy sector awaits the European Energy Charger, a multilateral agreement that could completely renovate the rules of this region's energy game. The rule changes could prove to be especially important for businesses from the United States. This paper examines this reshaping of Europe. It considers the ways in which old arrangements might be transformed into a new, but not necessarily improved, European order

  9. BDI position on energy policy and energy market deregulation

    International Nuclear Information System (INIS)

    Kreklau, C.

    2003-01-01

    Secure energy supplies are indispensable for our modern way of life and our economy. Energy policy is a part of economic policy and must be shaped within the magic triangle of objectives, i.e. security, competitiveness, environmental compatibility. As a result of their outstanding role, electricity and natural gas, with respective shares of 70% in industrial energy use and 85% in energy costs, are in the focus of energy policy interest of the Federation of German Industries (BDI). One important development over the past few years has been the deregulation of the markets for electricity and gas. However, the markedly lower electricity rates to be paid by industry, commercial tariff consumers, and private customers are being offset by new burdens arising from government intervention and taxes. Other dirigistic interventions into the energy market by the red-green federal government since 1998, referred to as 'turning point of energy policy', are invalidating what market opening had been achieved. With a view to a sustainable energy policy for the future, BDI pleads in favor of a broad energy mix. In a mix neutral with respect to competition, this includes the classical energy sources, the renewables, and low-cost, environmentally friendly nuclear power. In principle, it is the forces of the market, coupled with responsible action, which are to steer further developments. On a European level, speedy implementation of the opening of the electricity and gas markets, as decided, should be urged. It is important that the leeway won as a result of deregulation not be constrained again by new regulations. More market, less regulation, and more direct responsibility must provide room for a powerful energy supply system under the premises of the triangle of objectives referred to above. (orig.) [de

  10. Promotion of Renewable Energy in a Liberalised Energy Market

    DEFF Research Database (Denmark)

    Meyer, Niels I

    1998-01-01

    government promotion of energy conservation and of systems based on renewable energy sources. This type of policy may in some instanes conflict with the principles of the unregulated commercial market. The official Danish target is that 35% of energy demand should be covered by renewables by year 2030......Liberalisation of energy markets has been progressing among OECD countries since the early nineties. In Europe this trend was accelerated by the decision in December 1996 by the EU Council of Ministers to adopt a new EU directive on liberalisation of the electricity market. This decision would lead...

  11. The daily hour forecasting of the electrical energy production from renewable energy sources – a required condition for the operation of the new energy market model

    International Nuclear Information System (INIS)

    Kalpachka, Gergana; Kalpachki, Georgi

    2011-01-01

    The report presented the new energy market model in Bulgaria and the main attention is directed to a daily hour forecasting of the electrical energy production from renewable energy sources. The need of development of a methodology and the development of the most precise methods for predicting is reviewed and some of the used methods at the moment are presented. An analysis of the problems related to the daily hour forecasting is done using data from the producers of electrical energy from renewable energy sources in the territory of western Bulgaria. Keywords: Renewable energy sources, daily hour forecasting, electrical energy

  12. Wholesale energy market in a smart grid. Dynamic modeling, stability, and robustness

    Energy Technology Data Exchange (ETDEWEB)

    Kiani Bejestani, Arman

    2013-01-24

    The recent paradigm shift in the architecture of the smart grid is driven by the need to integrate Renewable Energy Resources (RER), the availability of information through communication networks, and an emerging policy of demand that is intertwined with pricing. A major component of this architecture is the design of electricity markets, which pertains to the optimal scheduling of power generation and reserve requirements. The challenge is to carry out this scheduling with a high level of integration of renewable generation sources, a formidable task due to intermittency and uncertainty. Introducing huge intermittency and uncertainty in the smart grid will demand a dynamic framework for addressing the operation, scheduling and financial settlements in the uncertain environment. The temporal components in scheduling generation are necessary due to increasing penetration of renewable sources, and increasing potential of adjustable demand via Demand Response (DR). The former brings issues of strong intermittency and uncertainty, and the latter brings a feedback structure, where demand can be modulated over a range of time-scales. Both of these components are dictating a new look at market mechanisms, with a controls viewpoint enabling a novel framework for analysis and synthesis. This dissertation provides static and dynamic models that capture the various aspects of electrical power systems, including the dynamics of market participants, the physical and technical constraints of power systems, and the uncertainty of RER. The proposed models shed new light on wholesale electricity market design, allowing an understanding to be gained of how to create markets, which enhance the stability of price profiles, and efficiency of the power systems, in the presence of uncertain demand and intermittent resources. The notion of market equilibrium in the presence of RER and DR is presented. The effects of uncertainties due to forecast errors in RER and variations due to DR on

  13. EIA model documentation: Petroleum market model of the national energy modeling system

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-12-28

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. Documentation of the model is in accordance with EIA`s legal obligation to provide adequate documentation in support of its models. The PMM models petroleum refining activities, the marketing of petroleum products to consumption regions, the production of natural gas liquids in gas processing plants, and domestic methanol production. The PMM projects petroleum product prices and sources of supply for meeting petroleum product demand. The sources of supply include crude oil, both domestic and imported; other inputs including alcohols and ethers; natural gas plant liquids production; petroleum product imports; and refinery processing gain. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption. Product prices are estimated at the Census division level and much of the refining activity information is at the Petroleum Administration for Defense (PAD) District level.

  14. EIA model documentation: Petroleum market model of the national energy modeling system

    International Nuclear Information System (INIS)

    1995-01-01

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. Documentation of the model is in accordance with EIA's legal obligation to provide adequate documentation in support of its models. The PMM models petroleum refining activities, the marketing of petroleum products to consumption regions, the production of natural gas liquids in gas processing plants, and domestic methanol production. The PMM projects petroleum product prices and sources of supply for meeting petroleum product demand. The sources of supply include crude oil, both domestic and imported; other inputs including alcohols and ethers; natural gas plant liquids production; petroleum product imports; and refinery processing gain. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption. Product prices are estimated at the Census division level and much of the refining activity information is at the Petroleum Administration for Defense (PAD) District level

  15. Essays in energy policy and planning modeling under uncertainty: Value of information, optimistic biases, and simulation of capacity markets

    Science.gov (United States)

    Hu, Ming-Che

    Optimization and simulation are popular operations research and systems analysis tools for energy policy modeling. This dissertation addresses three important questions concerning the use of these tools for energy market (and electricity market) modeling and planning under uncertainty. (1) What is the value of information and cost of disregarding different sources of uncertainty for the U.S. energy economy? (2) Could model-based calculations of the performance (social welfare) of competitive and oligopolistic market equilibria be optimistically biased due to uncertainties in objective function coefficients? (3) How do alternative sloped demand curves perform in the PJM capacity market under economic and weather uncertainty? How does curve adjustment and cost dynamics affect the capacity market outcomes? To address the first question, two-stage stochastic optimization is utilized in the U.S. national MARKAL energy model; then the value of information and cost of ignoring uncertainty are estimated for three uncertainties: carbon cap policy, load growth and natural gas prices. When an uncertainty is important, then explicitly considering those risks when making investments will result in better performance in expectation (positive expected cost of ignoring uncertainty). Furthermore, eliminating the uncertainty would improve strategies even further, meaning that improved forecasts of future conditions are valuable ( i.e., a positive expected value of information). Also, the value of policy coordination shows the difference between a strategy developed under the incorrect assumption of no carbon cap and a strategy correctly anticipating imposition of such a cap. For the second question, game theory models are formulated and the existence of optimistic (positive) biases in market equilibria (both competitive and oligopoly markets) are proved, in that calculated social welfare and producer profits will, in expectation, exceed the values that will actually be received

  16. The Ontario Energy Marketers Association

    International Nuclear Information System (INIS)

    Baker, W.F.C.

    1998-01-01

    An overview of the role of the Ontario Energy Marketers Association (OEMA) and its future orientation was presented. Participants in the OEMA include agents, brokers, marketers, local distribution companies, public interest representatives, associations and government representatives. The role of the OEMA is to encourage open competition for the benefit and protection of all energy consumer and market participants. As well, the OEMA serves as a forum for key industry stakeholders to resolve market issues outside the regulatory arena, set standards and codes of practice, establish customer education programs, and develop industry input into public policy making

  17. Natural gas transmission and distribution model of the National Energy Modeling System

    International Nuclear Information System (INIS)

    1997-02-01

    The Natural Gas Transmission and Distribution Model (NGTDM) is the component of the National Energy Modeling System (NEMS) that is used to represent the domestic natural gas transmission and distribution system. NEMS was developed in the Office of Integrated Analysis and Forecasting of the Energy Information Administration (EIA). NEMS is the third in a series of computer-based, midterm energy modeling systems used since 1974 by the EIA and its predecessor, the Federal Energy Administration, to analyze domestic energy-economy markets and develop projections. From 1982 through 1993, the Intermediate Future Forecasting System (IFFS) was used by the EIA for its analyses, and the Gas Analysis Modeling System (GAMS) was used within IFFS to represent natural gas markets. Prior to 1982, the Midterm Energy Forecasting System (MEFS), also referred to as the Project Independence Evaluation System (PIES), was employed. NEMS was developed to enhance and update EIA's modeling capability by internally incorporating models of energy markets that had previously been analyzed off-line. In addition, greater structural detail in NEMS permits the analysis of a broader range of energy issues. The time horizon of NEMS is the midterm period (i.e., through 2015). In order to represent the regional differences in energy markets, the component models of NEMS function at regional levels appropriate for the markets represented, with subsequent aggregation/disaggregation to the Census Division level for reporting purposes

  18. Natural gas transmission and distribution model of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-02-01

    The Natural Gas Transmission and Distribution Model (NGTDM) is the component of the National Energy Modeling System (NEMS) that is used to represent the domestic natural gas transmission and distribution system. NEMS was developed in the Office of Integrated Analysis and Forecasting of the Energy Information Administration (EIA). NEMS is the third in a series of computer-based, midterm energy modeling systems used since 1974 by the EIA and its predecessor, the Federal Energy Administration, to analyze domestic energy-economy markets and develop projections. From 1982 through 1993, the Intermediate Future Forecasting System (IFFS) was used by the EIA for its analyses, and the Gas Analysis Modeling System (GAMS) was used within IFFS to represent natural gas markets. Prior to 1982, the Midterm Energy Forecasting System (MEFS), also referred to as the Project Independence Evaluation System (PIES), was employed. NEMS was developed to enhance and update EIA`s modeling capability by internally incorporating models of energy markets that had previously been analyzed off-line. In addition, greater structural detail in NEMS permits the analysis of a broader range of energy issues. The time horizon of NEMS is the midterm period (i.e., through 2015). In order to represent the regional differences in energy markets, the component models of NEMS function at regional levels appropriate for the markets represented, with subsequent aggregation/disaggregation to the Census Division level for reporting purposes.

  19. Distributed Generation Market Demand Model (dGen): Documentation

    Energy Technology Data Exchange (ETDEWEB)

    Sigrin, Benjamin [National Renewable Energy Lab. (NREL), Golden, CO (United States); Gleason, Michael [National Renewable Energy Lab. (NREL), Golden, CO (United States); Preus, Robert [National Renewable Energy Lab. (NREL), Golden, CO (United States); Baring-Gould, Ian [National Renewable Energy Lab. (NREL), Golden, CO (United States); Margolis, Robert [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2016-02-01

    The Distributed Generation Market Demand model (dGen) is a geospatially rich, bottom-up, market-penetration model that simulates the potential adoption of distributed energy resources (DERs) for residential, commercial, and industrial entities in the continental United States through 2050. The National Renewable Energy Laboratory (NREL) developed dGen to analyze the key factors that will affect future market demand for distributed solar, wind, storage, and other DER technologies in the United States. The new model builds off, extends, and replaces NREL's SolarDS model (Denholm et al. 2009a), which simulates the market penetration of distributed PV only. Unlike the SolarDS model, dGen can model various DER technologies under one platform--it currently can simulate the adoption of distributed solar (the dSolar module) and distributed wind (the dWind module) and link with the ReEDS capacity expansion model (Appendix C). The underlying algorithms and datasets in dGen, which improve the representation of customer decision making as well as the spatial resolution of analyses (Figure ES-1), also are improvements over SolarDS.

  20. Sustainable design options for the German electricity market. A comparison of the energy-only market with capacity markets; Zukunftsfaehige Designoptionen fuer den deutschen Strommarkt. Ein Vergleich des Energy-only-Marktes mit Kapazitaetsmaerkten

    Energy Technology Data Exchange (ETDEWEB)

    Keles, Dogan; Renz, Lea; Bublitz, Andreas; Zimmermann, Florian; Genoese, Massimo; Fichtner, Wolf [Karlsruher Institut fuer Technologie, Karlsruhe (Germany). Lehrstuhl fuer Energiewirtschaft; Hoefling, Holger; Sensfuss, Frank; Winkler, Jenny [Fraunhofer-Institut fuer System- und Innovationsforschung (ISI), Karlsruhe (Germany)

    2016-04-01

    This study intensively discusses the further developments of the electricity market design in Germany based on substantial scientific insights. For this purpose, an agent-based simulation model is applied to evaluate the operability of the energy only market extended with a strategic reserve. Furthermore, the effects of the implementation of a centralized or decentralized capacity market are analyzed.

  1. Learnings from liberalised energy markets

    DEFF Research Database (Denmark)

    The paper presents a number of overlooked problems in liberalised electricity markets, including supply security, environmental concerns and establishment of a sustainable energy development.......The paper presents a number of overlooked problems in liberalised electricity markets, including supply security, environmental concerns and establishment of a sustainable energy development....

  2. Renewable energy sources. Transformation of the Energy Market; Foernybara Energikaellor. Hela elmarknaden i foeraendring

    Energy Technology Data Exchange (ETDEWEB)

    2009-03-15

    This report describes and analyzes renewable energy seen as emerging markets, focusing on wind, solar and wave power. The conclusions are that: Wind and solar energy has reached critical mass. They are already large markets, and has a high growth rate. There are growth areas that may become among the world's largest industries in the future. This summary report and the underlying studies of wind, solar and wave power show that there is a large potential market for renewable energy sources. Wind power is already a market worth around 36.5 billion Euro. Solar energy is growing strongly and solar cells in 2008 had a market worth around 24 billion Euro. Wave power is at present a very small market and the in the actual development stage the potential of wave power is uncertain. But if the wave would become commercially viable, it could represent a significant part of the world's energy capacity, with associated large investments. In the foreseeable future, all areas have a continuing need for public support to be commercially viable. Despite the already extensive market renewable energy sources represent a relatively small share of energy and electricity in the world. For large-scale electricity generation, there is still a need for public support. Renewable energy means new business opportunities that fundamentally can change structure and competition in the electricity market. A potential of this magnitude involves major business opportunities for involved companies, but also challenges. There are several factors affecting this development, Such as new technology, deregulation, support systems and consumer preferences. The growth of renewable energy sources is not only a question of technical development and relative prices of a homogeneous product, but a question of which actors and business models that will be viable in a rapidly changing market. Swedish industry is well placed to benefit from the growing markets. Many Swedish companies have significant

  3. Directory of Energy Information Administration Models 1994

    International Nuclear Information System (INIS)

    1994-07-01

    This directory revises and updates the 1993 directory and includes 15 models of the National Energy Modeling System (NEMS). Three other new models in use by the Energy Information Administration (EIA) have also been included: the Motor Gasoline Market Model (MGMM), Distillate Market Model (DMM), and the Propane Market Model (PPMM). This directory contains descriptions about each model, including title, acronym, purpose, followed by more detailed information on characteristics, uses and requirements. Sources for additional information are identified. Included in this directory are 37 EIA models active as of February 1, 1994

  4. Directory of Energy Information Administration Models 1994

    Energy Technology Data Exchange (ETDEWEB)

    1994-07-01

    This directory revises and updates the 1993 directory and includes 15 models of the National Energy Modeling System (NEMS). Three other new models in use by the Energy Information Administration (EIA) have also been included: the Motor Gasoline Market Model (MGMM), Distillate Market Model (DMM), and the Propane Market Model (PPMM). This directory contains descriptions about each model, including title, acronym, purpose, followed by more detailed information on characteristics, uses and requirements. Sources for additional information are identified. Included in this directory are 37 EIA models active as of February 1, 1994.

  5. Introduction of natural gas in the Scandinavian energy market

    Energy Technology Data Exchange (ETDEWEB)

    Tandberg, E.

    1992-05-01

    We have given special attention to strategic features of some current decision problems of relevance for the future development of the energy market. The analysis indicates that these features will be of importance. The market solutions in our analysis are, of course, results of the specific parameters that we have stipulated. The types of strategic issues that arise, however, do often seem to be rather independent of the specific market description. Traditionally, government policies towards the energy sector have primarily been based on direct regulations. There is a strong trend towards increased emphasis on structural and strategic issues in regulatory policies. In order to establish an efficient regulatory framework for the Scandinavian gas market, a thorough understanding of the energy market's mode of functioning is indispensable. Energy market analyses have, in many cases, treated aspects of demand and supply more or less separately. We believe that an integrated, equilibrium-based approach could be useful. In order to facilitate an explicit representation of important strategic aspects, such an approach will be essential. Further work on strategic issues in the energy market could be of great value. Among other things, future research should put emphasis on the dynamics of investment decisions and the modeling of games that involve several players. More complicated formulations on non-cooperative games would tend to give results that are more in line with the cooperative solutions. The complicating features serve to put constraints on the players' actions. These constraints are in many ways similar to binding agreements. 5 refs., 5 figs., 5 tabs.

  6. Impact of Energy Transition in Germany on the Nordic Power Market – A Blessing or Curse?

    DEFF Research Database (Denmark)

    Zakeri, Behnam; Syri, Sanna; Connolly, David

    2015-01-01

    integrate and harmonize regional markets towards a pan-European power market with a single pricing algorithm. The impacts of such power market couplings on the interconnected countries are complex, which concerns market participants in different levels, from consumers and producers to grid operators...... in such interconnected countries calls for a market-based multiregion energy system model. In this respect, this contribution analyses the impact of further VRE in Germany on the Nordic countries by proposing a new integrated energy system, power market model of the region. The results reveal the market-economic impact......The European energy policy emphasizes the establishment of EU-wide internal energy markets as a reliable solution in increasing the security of supply, optimal use of internal energy resources, and improved economic competitiveness. With respect to the power sector, the EU’s strategy is to further...

  7. Market penetration of energy supply technologies

    Science.gov (United States)

    Condap, R. J.

    1980-03-01

    Techniques to incorporate the concepts of profit-induced growth and risk aversion into policy-oriented optimization models of the domestic energy sector are examined. After reviewing the pertinent market penetration literature, simple mathematical programs in which the introduction of new energy technologies is constrained primarily by the reinvestment of profits are formulated. The main results involve the convergence behavior of technology production levels under various assumptions about the form of the energy demand function. Next, profitability growth constraints are embedded in a full-scale model of U.S. energy-economy interactions. A rapidly convergent algorithm is developed to utilize optimal shadow prices in the computation of profitability for individual technologies. Allowance is made for additional policy variables such as government funding and taxation. The result is an optimal deployment schedule for current and future energy technologies which is consistent with the sector's ability to finance capacity expansion.

  8. Redefining RECs: Additionality in the voluntary Renewable Energy Certificate market

    Science.gov (United States)

    Gillenwater, Michael Wayne

    In the United States, electricity consumers are told that they can "buy" electricity from renewable energy projects, versus fossil fuel-fired facilities, through participation in a voluntary green power program. The marketing messages communicate to consumers that their participation and premium payments for a green label will cause additional renewable energy generation and thereby allow them to claim they consume electricity that is absent pollution as well as reduce pollutant emissions. Renewable Energy Certificates (RECs) and wind energy are the basis for the majority of the voluntary green power market in the United States. This dissertation addresses the question: Do project developers respond to the voluntary REC market in the United States by altering their decisions to invest in wind turbines? This question is investigated by modeling and probabilistically quantifying the effect of the voluntary REC market on a representative wind power investor in the United States using data from formal expert elicitations of active participants in the industry. It is further explored by comparing the distribution of a sample of wind power projects supplying the voluntary green power market in the United States against an economic viability model that incorporates geographic factors. This dissertation contributes the first quantitative analysis of the effect of the voluntary REC market on project investment. It is found that 1) RECs should be not treated as equivalent to emission offset credits, 2) there is no clearly credible role for voluntary market RECs in emissions trading markets without dramatic restructuring of one or both markets and the environmental commodities they trade, and 3) the use of RECs in entity-level GHG emissions accounting (i.e., "carbon footprinting") leads to double counting of emissions and therefore is not justified. The impotence of the voluntary REC market was, at least in part, due to the small magnitude of the REC price signal and lack of

  9. Energy and commodities market

    International Nuclear Information System (INIS)

    Bokermann, Marcus; Prass, Markus

    2015-01-01

    The electricity markets in Central and Western Europe and in the nordic countries have further shown weak in 2014 with falling prices. The key factors were the declining quotations for coal and natural gas and the warm weather. Another driver was the growth of renewable energy. In the power markets conditions remained mostly an oversupply. The upward trending prices on the CO 2 emissions market were not formative enough to turn the market sentiment. They only caused for volatility during the year. [de

  10. 75 FR 38514 - Application to Export Electric Energy; Brookfield Energy Marketing LP

    Science.gov (United States)

    2010-07-02

    ... Energy Marketing LP AGENCY: Office of Electricity Delivery and Energy Reliability, DOE. ACTION: Notice of application. SUMMARY: Brookfield Energy Marketing LP (BEM LP) has applied for authority to transmit electric... surplus energy purchased from electric utilities, Federal power marketing agencies and other entities...

  11. Energy Choices. The energy markets and the energy policy choices

    International Nuclear Information System (INIS)

    Bergman, Lars; Lindh, Hampus

    2009-03-01

    Well-functioning energy markets are in society's interests whatever the circumstances. Furthermore, supply, demand and the competitive situation in the various energy markets influence the effect of energy and climate change policy measures. There are therefore good reasons to examine and evaluate how the energy markets operate. In this report we specifically focus on the energy markets. The analysis has been carried out against the background of the overall objectives for energy and climate change policy in Sweden and the EU. However, for these goals to be attainable a number of concrete energy and climate change policy decisions will have to be taken in the coming years. Some of these are key issues that will prove decisive for the formulation of energy and climate change policy, and we therefore also discuss these. The first of these concerns which policy instruments should be chosen to influence the energy markets. The second key issue concerns the power companies' prospects for using nuclear power even in the future. We will also focus on the extent to which energy and climate change policy chooses to prioritise measures which mean that climate change policy objectives can be achieved at the lowest possible cost. We can briefly summarize our results in the following conclusions: The cost of achieving the climate change policy objectives set by Sweden and the EU will probably be very high. It is therefore important that the choices made ensure that climate change policy objectives are achieved at the lowest possible cost. Focusing on keeping costs to a minimum may in actual fact be the very thing that makes it at all possible to achieve these goals. The best solution then is as far as possible to base energy and climate change policy on so-called market-based instruments, such as emission charges and tradable emission permits. Emissions of carbon dioxide are easy to measure and the siting of emission sources is irrelevant in terms of the effect of the emissions

  12. Market and policy barriers to energy storage deployment :

    Energy Technology Data Exchange (ETDEWEB)

    Bhatnagar, Dhruv; Currier, Aileen B.; Hernandez, Jacquelynne; Ma, Ookie; Kirby, Brendan

    2013-09-01

    Electric energy storage technologies have recently been in the spotlight, discussed as essential grid assets that can provide services to increase the reliability and resiliency of the grid, including furthering the integration of variable renewable energy resources. Though they can provide numerous grid services, there are a number of factors that restrict their current deployment. The most significant barrier to deployment is high capital costs, though several recent deployments indicate that capital costs are decreasing and energy storage may be the preferred economic alternative in certain situations. However, a number of other market and regulatory barriers persist, limiting further deployment. These barriers can be categorized into regulatory barriers, market (economic) barriers, utility and developer business model barriers, crosscutting barriers and technology barriers. This report, through interviews with stakeholders and review of regulatory filings in four regions roughly representative of the United States, identifies the key barriers restricting further energy storage development in the country. The report also includes a discussion of possible solutions to address these barriers and a review of initiatives around the country at the federal, regional and state levels that are addressing some of these issues. Energy storage could have a key role to play in the future grid, but market and regulatory issues have to be addressed to allow storage resources open market access and compensation for the services they are capable of providing. Progress has been made in this effort, but much remains to be done and will require continued engagement from regulators, policy makers, market operators, utilities, developers and manufacturers.

  13. Energy independence versus world market

    International Nuclear Information System (INIS)

    Noel, P.

    2003-01-01

    The geo-policy is the unity of the rules and political actions coming from taking into account the problem of the national energy demands facing the world energy market. The aim of this paper is to show that these actions are confronted to two paradigms of public policy. One is the research of the energy policy, the other is the effort of building and safety of the world market. (A.L.B.)

  14. Extending market activities for a distribution company in hourly-ahead energy and reserve markets - Part I: Problem formulation

    International Nuclear Information System (INIS)

    Mashhour, M.; Golkar, M.A.; Moghaddas-Tafreshi, S.M.

    2011-01-01

    This work presents a novel hourly-ahead profit model for an active distribution company (DISCO), a DISCO with high capacity level of connected DGs that can make selling proposals for the markets, in a pool-based system. The presented model engages DSICO in both energy producing and reserve providing activities. DISCO's earnings from reserve market include the remuneration both for real-time generation and ready-for-service capacity. To achieve the optimal decisions for an active DISCO in the energy and reserve markets, a two-stage optimization model and associated mathematical formulations have been developed. The first subproblem extracts a single operating profile (a lumped financial model) of the whole distribution system, including DGs and ILs, at the connecting point to the upstream network. The second one determines the optimal values of decision variables (power and reserve commodities) to maximize the DISCO's profit, in case such variables are accepted in the markets. In other words, it aims to optimally allocate the DISCO's generating capability for proposing into the energy and reserve markets, from the DISCO's perspective. It also proposes a profit-based network reconfiguration methodology for a multi-substation multi-feeder DISCO to increase DISCO's ability to gain more benefits from the market activities. It conducts DISCO's generating capabilities towards the proper substations to reap more probable benefits. It also introduces fast, simple, and straightforward algorithms for recognition and removal of configurations having loop and/or islanding parts in. Simulation results are given at the second part of the present work.

  15. 78 FR 65978 - Application to Export Electric Energy; Brookfield Energy Marketing Inc.

    Science.gov (United States)

    2013-11-04

    ... Energy Marketing Inc. AGENCY: Office of Electricity Delivery and Energy Reliability, DOE. ACTION: Notice of application. SUMMARY: Brookfield Energy Marketing Inc. (BEMI) has applied to renew its authority... President of Legal Services and General Counsel, Brookfield Energy Marketing Inc., 480 de la Cite Blvd...

  16. Market Mechanism Design for Renewable Energy based on Risk Theory

    Science.gov (United States)

    Yang, Wu; Bo, Wang; Jichun, Liu; Wenjiao, Zai; Pingliang, Zeng; Haobo, Shi

    2018-02-01

    Generation trading between renewable energy and thermal power is an efficient market means for transforming supply structure of electric power into sustainable development pattern. But the trading is hampered by the output fluctuations of renewable energy and the cost differences between renewable energy and thermal power at present. In this paper, the external environmental cost (EEC) is defined and the EEC is introduced into the generation cost. At same time, the incentive functions of renewable energy and low-emission thermal power are designed, which are decreasing functions of EEC. On these bases, for the market risks caused by the random variability of EEC, the decision-making model of generation trading between renewable energy and thermal power is constructed according to the risk theory. The feasibility and effectiveness of the proposed model are verified by simulation results.

  17. The energy services market in France

    International Nuclear Information System (INIS)

    2004-06-01

    This study aims to answer the following questions: what is the french market value? What are its development perspectives? What services range is necessary? How increase the added value of proposed services? Which choice between the competence internalization and the subcontracting? What threat represent the providers on a market usually dominated by the energy suppliers and services providers? How will the french and european market combine? The following operators are studied (key data, energy services policy) by Eurostaf: Amec Spie, Cegelec, Dalkia, EDF, Elyo, Endesa Energia, Energie Rhone, GDF, RWE Solutions, Vinci Energies. (A.L.B.)

  18. Renewable energy technologies: costs and markets

    International Nuclear Information System (INIS)

    Nitsch, J.; Langniss, O.

    1997-01-01

    A prominent feature of renewable energy utilisation is the magnitude of renewable energy that is physically available worldwide. The present paper attempts an economic valuation of development strategies for renewable energy sources (RES) on the basis of the past development of RES markets. It comes to the conclusion that if current energy prices remain largely unchanged, it will be necessary to promote RES technologies differentially according to the technique and type of energy employed or to provide start-up funding. The more probable a long-term increase in energy prices becomes, the greater will be the proportion of successfully promoted technologies. Energy taxes on exhaustible or environmentally harmful energy carriers and other instruments to this end would contribute greatly to the attractivity of RES investment both in terms of national economy and from the viewpoint of the private investor. Renewable energies will play an important role in the hardware and services sectors of the energy market in the decades to come. Long-term promotion of market introduction programmes and unequivocal energy-political aims on the part of the government are needed if the German industry is to have a share in this growing market and be able to offer internationally competitive products [de

  19. A GLANCE AT THE EUROPEAN ENERGY MARKET LIBERALIZATION

    Directory of Open Access Journals (Sweden)

    Delia Vasilica Rotaru

    2013-03-01

    Full Text Available This paper offers a presentation on the liberalization process on the energy markets that started two decades ago and takes place across Europe in the attempt to create a single European energy market. Several benefits are expected following the deregulation process such as higher competition, market transparency, lower prices, increased efficiency and product development in the clients favour. Three very different energy markets are analyzed before and after the liberalization process – UK, Germany and France – a short insight on the current Romanian energy market is also offered. The aim of this paper is to provide a better understanding on liberalizing European energy markets.

  20. Integrated marketing communications at solar energy equipment market

    OpenAIRE

    I.L. Litovchenko; I.A. Shkurupskaya

    2013-01-01

    The aim of the article. The article is devoted to the development of the concept of «integrated marketing communications», as well as its adaptation to a specific market of solar energy equipment. The theoretical development of foreign and domestic scholars in the field of IMC is considered. The aim of the article is to define the concept of «integrated marketing communications» and use them in the market of solar еnergy equipment in an information economy. The author's definition of the c...

  1. Problems of valuation and organization in energy markets

    International Nuclear Information System (INIS)

    Porchet, A.

    2008-01-01

    In the past thirty years, the electricity industry has experienced significant structural changes in its organization all over the world. Traditionally centralized and organized in monopolies, at least locally, and often publicly owned, the activities of electricity production and retail have moved towards a market-based organization. Nowadays, a significant number of countries host electricity wholesale markets where producers and retailers exchange electricity to satisfy the demand of end consumers. These markets are not strictly national and the volume of cross-border exchanges is increasing. The question of the organization of these markets is crucial with regards to the direct consequences in cases of failure (we refer for example to the California crisis or the Enron scandal in 2001). The whole set of energy markets has been transformed in a broader context of demand growth, threat of exhaustion of fossil energies, environmental awareness and political tensions for the access to natural resources. Beside an oil market under pressure, the gas and coal markets have seen their volumes increasing. The ratification of the Kyoto protocol and the enforcement of a greenhouse gases reduction policy have lead to the creation of markets for emissions permits and stimulated the use of renewable and nuclear energies and biofuels. The increasing exposure of the world economy to energy prices incited the financial markets to develop new commodity risk management products (energy, agriculturals, metals). These are price risk and also volume risk management products, in order to hedge the risk of fluctuating demand. These are also derivatives or insurance products against weather risk. This PhD dissertation keeps within this context. It is composed of four chapters that are independent of each other. The first chapter concerns the valuation of physical assets such as thermal power plants. This Real Option valuation method is based on a utility indifference analysis and

  2. Proceedings of the 11th forum: Croatian Energy Day: Regulation problems relating to energy service markets

    International Nuclear Information System (INIS)

    2002-01-01

    The main goals of the majority of processes and developments relating to energy sectors of today present the enhancement of energy sector efficiency, ensuring of stable financial sources and safe return of the means invested through practice of activities at the market of energy and energy services, i.e. public services or monopoly. This is to be achieved by means of energy sector restructuring and liberalisation, pluralism of ownership and transparency of the organisational and management scheme. Thereby, an important role and significance for the realisation of these aims, for the development and energy market functioning on the national level, as well as for the achievement of reciprocity and complementarity of national markets with regional and multi-national energy markets, is held by models and forms of energy activity regulation. In a limited sense, the regulation itself should constitute an adequate stimulating framework for free energy flows, transparent and non- discriminating conditions for the utilisation of transmission and transportation systems and networks, protection of supplier choice rights, pluralism of ownership and ownership rights, protection of energy and energy services' quality, environmental protection, protection of purchasers and consumers and protection of energy subjects. For all these reasons, aspects and problems appertaining to energy sector and energy activities' regulation have been chosen as the theme and contents of the 11th Forum. Various countries have undertaken and implemented or are in the process of implementation of different models and contents referring to energy sector and energy activity regulation. Experience and legislative practice are quoted as the main criteria. The aim of this Forum is to set forth and clarify experiences and solutions connected to the regulation of energy activities in numerous European countries or in the world

  3. Marketing strategy for retailing small-scale wind energy turbines in Indian markets

    OpenAIRE

    Harjula, Nina

    2009-01-01

    The study analyzes the small-scale wind energy markets in Mumbai, focusing on questions: How feasible is the wind energy for SME businesses in Mumbai, and what are the main challenges and opportunities of small-scale wind energy in Mumbai? The study is a qualitative case study, in which, the data has been collected through observing the markets by visiting wind energy sites and companies, interviewing and meeting potential customers and other stakeholders in the market. Theoretical frame...

  4. Electricity market readiness plan : Ontario Energy Board

    International Nuclear Information System (INIS)

    2001-03-01

    This document informs electric power market participants of the Ontario Energy Board's newly developed market readiness plan and target timelines that local distribution companies (LDCs) must meet for retail marketing. The Ontario Energy Board's plan incorporates relevant independent market operator (IMO)-administered market milestones with retail market readiness targeted for September 2001. The market readiness framework involves a self-certification process for LDCs by August 10, 2001, through which the Board will be able to monitor progress and assess the feasibility of meeting the target timelines. For retail market readiness, all LDCs will have to calculate settlement costs, produce unbundled bills, provide standard supply service, change suppliers and accommodate retail transactions. LDCs must be either authorized participants in the IMO-administered market or become retail customers of their host LDC. Unbundled bills will include itemized charges for energy price, transmission, distribution and debt retirement charge. 1 tab., 1 fig

  5. Policies to support renewable energies in the heat market

    International Nuclear Information System (INIS)

    Buerger, Veit; Klinski, Stefan; Lehr, Ulrike; Leprich, Uwe; Nast, Michael; Ragwitz, Mario

    2008-01-01

    Whereas the contribution from renewable energies in the electrical power market is increasing rapidly, similar progress in the heat market is yet to be made. A prerequisite for progress is the development of innovative support instruments that transcend the usual support through public subsidies or tax reductions. We present an overview of the various classes of possible instruments. Some particularly interesting instruments will be selected and evaluated, comparing them qualitatively and quantitatively for the case of Germany. The most favourable model is found to be a new, allocation-financed model known as the Bonus Model. This model will be described in more detail

  6. Energy market for energy. Natural gas and electricity

    International Nuclear Information System (INIS)

    Van Scherpenzeel, H.; De Boer, I.

    2000-10-01

    The aim of the title market study is to provide insight into the energy market in Argentina for the Dutch industry and business sector, focusing on the structure of the natural gas and electricity sector and the market for equipment for the production and processing of natural gas and equipment for electricity generation

  7. Problems of future energy market planning and optimization

    International Nuclear Information System (INIS)

    Vladimir Lelek; David Jaluvka

    2007-01-01

    Problems of future energy supply in the form, which is demanded - heat, liquid fuel, electricity - are described. There are several factors, which probably could be studied separately: technology and its sustain ability with respect to the raw materials resources, long time for capacity construction, for some form of energy even absence of sufficiently deep technology knowledge and model of prices. Prices are specially peculiar problem - they could be very different from the standard approach (investment, operation and maintenance, fuel, profit), if there are market instabilities and you are not able to supply market by the demanded amount form of energy with the consequences on production. Expected effect will be jump in prices or regulated supply to equalize supply and use. Such situation will be until the new capacities are put into operation or new technologies of production are established - it could be time about ten or more years and this can completely change our standard consideration of profit. The main profit will be to avoid losses and unemployment. Also concept of local or domestic raw material resources could be changed - in the free market your resources will be sold to those paying more. Probable development of energy market is described in the article and special attention is devoted to the nuclear energy, which not only consume, but also produce raw material and how to proceed to avoid crises in supply. Contemporary understanding of the problem does not enable to formulate it strictly as mathematical optimization task (Authors)

  8. Restructured electric power systems analysis of electricity markets with equilibrium models

    CERN Document Server

    2010-01-01

    Electricity market deregulation is driving the power energy production from a monopolistic structure into a competitive market environment. The development of electricity markets has necessitated the need to analyze market behavior and power. Restructured Electric Power Systems reviews the latest developments in electricity market equilibrium models and discusses the application of such models in the practical analysis and assessment of electricity markets.

  9. Energy markets and climate change

    NARCIS (Netherlands)

    Krozer, Yoram

    2017-01-01

    Innovations mechanisms on energy markets are discussed, in particular valorization of energy products which invokes decarbonization of energy recourses. The valorization, meaning higher value of energy products, is expressed as electrification and entry of modern renewable energy based on

  10. Energy to the masses : a blueprint for competition in Alberta's retail energy markets

    International Nuclear Information System (INIS)

    Topp, L.

    2004-01-01

    This paper presents a framework for competition in Alberta's retail energy market and its influence on Direct Energy Marketing Limited . The main factors for successful retail energy competition were identified as being a level playing field for all retailers; a stable and committed regulatory framework; customer education; brand trust and visibility; regulated pricing which reflects market conditions; customer service and billing; unrestricted customer choice; and, conformity between electricity and gas markets. Direct Energy is a wholly owned subsidiary of British-based Centrica plc, one of the top 30 companies in the United Kingdom in terms of market capitalization. It was created during Britain's regulatory reform of the energy industry and operates through 4 retail brand units. Centrica entered the North American market in 2000 when it acquired Direct Energy Marketing Limited which supplies energy and services to half of the households in Ontario. Direct Energy is expected to increase its customer base with the pending closure of ATCO Gas and ATCO Electric in Alberta, making it Canada's largest provider of retail energy services. In a competitive energy market, retailers can offer a wider range of products than energy alone. Cost-to services can be reduced by offering services such as heating, ventilation and air conditioning

  11. The Distributed Geothermal Market Demand Model (dGeo): Documentation

    Energy Technology Data Exchange (ETDEWEB)

    McCabe, Kevin [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Mooney, Meghan E [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Sigrin, Benjamin O [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Gleason, Michael [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Liu, Xiaobing [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2017-11-06

    The National Renewable Energy Laboratory (NREL) developed the Distributed Geothermal Market Demand Model (dGeo) as a tool to explore the potential role of geothermal distributed energy resources (DERs) in meeting thermal energy demands in the United States. The dGeo model simulates the potential for deployment of geothermal DERs in the residential and commercial sectors of the continental United States for two specific technologies: ground-source heat pumps (GHP) and geothermal direct use (DU) for district heating. To quantify the opportunity space for these technologies, dGeo leverages a highly resolved geospatial database and robust bottom-up, agent-based modeling framework. This design is consistent with others in the family of Distributed Generation Market Demand models (dGen; Sigrin et al. 2016), including the Distributed Solar Market Demand (dSolar) and Distributed Wind Market Demand (dWind) models. dGeo is intended to serve as a long-term scenario-modeling tool. It has the capability to simulate the technical potential, economic potential, market potential, and technology deployment of GHP and DU through the year 2050 under a variety of user-defined input scenarios. Through these capabilities, dGeo can provide substantial analytical value to various stakeholders interested in exploring the effects of various techno-economic, macroeconomic, financial, and policy factors related to the opportunity for GHP and DU in the United States. This report documents the dGeo modeling design, methodology, assumptions, and capabilities.

  12. Preparing Europe for a single market in energy

    International Nuclear Information System (INIS)

    Anon.

    1990-01-01

    By the end of 1992 a ''single market'' in the European Community should be in place. While the energy sector was not included in the ''White Paper'' which planned the single market, it soon became obvious that it could not be excluded. The single market in energy is intended to integrate energy supply in the member states and remove barriers to trade. It has been calculated that these barriers cost the Community 20-30 billion ecus ($15-20 billion) every year. Removing the barriers will result in much greater competition within the energy market. The Commission published a working document, the internal energy market, in May 1988. This report described the real and potential obstacles to the single energy market for each of the principal energy sources and suggested priorities which should be addressed. The strategy suggested in the report is outlined here, and recent developments briefly reviewed. (author)

  13. Participation of an Energy Hub in Electricity and Heat Distribution Markets: An MPEC Approach

    DEFF Research Database (Denmark)

    Li, Rui; Wu, Qiuwei; Wei, Wei

    2018-01-01

    and thorough mathematical tool for studying the integrated energy system from a deregulated market perspective. A mathematic program with equilibrium constraints (MPEC) model is proposed to study the strategic behaviors of a profit-driven energy hub in the electricity market and heating market under...... the background of energy system integration. In the upper level, the EH submits bids of prices and quantities to a distribution power market and a heating market; in the lower level, the two markets are cleared and energy contracts between the EH and two energy markets are determined. Network constraints...... of physical systems are explicitly represented by an optimal power flow problem and an optimal thermal flow problem. The proposed MPEC formulation is approximated by a mixed-integer linear program via performing integer disjunctions on the complementarity and slackness conditions and binary expansion...

  14. Proceedings of the Ninth forum: Croatian Energy Day: Restructuring, Privatisation and Market Changes of Grid-bound Energy Systems

    International Nuclear Information System (INIS)

    2000-01-01

    Restructuring, privatisation and market changes of grid-bound energy systems present processes that characterise the energy sector of today, and the achieved level of these processes vary considerably from one country to another and there is no ideal model. Therefore, the exchange of experiences and broad co-operation in the field is of vital importance. For the first time the concept of the future Croatian energy legislation, presently in the focus of domestic energy related attention, will be introduced. Restructuring includes the changes in organisation anbd economic relations in order to enhance efficiency and reduce operational costs, in keeping with the market trends. Privatisation is a process that should enable the creation of markets and competition. When defining the concept of privatisation, we should primarily design the market, determine the position of individual functioning during market creation, and then determine the course of privatisation. Experiences of developed countries tell us that it is necessary to find a balance between markets and state interventions, as well as among technological-technical, economic and social aspects of energy use

  15. Petroleum Market Model of the National Energy Modeling System. Part 1

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-12-18

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. The PMM models petroleum refining activities, the marketing of petroleum products to consumption regions, the production of natural gas liquids in gas processing plants, and domestic methanol production. The PMM projects petroleum product prices and sources of supply for meeting petroleum product demand. The sources of supply include crude oil, both domestic and imported; other inputs including alcohols and ethers; natural gas plant liquids production; petroleum product imports; and refinery processing gain. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption. Product prices are estimated at the Census division level and much of the refining activity information is at the Petroleum Administration for Defense (PAD) District level.

  16. Certification and brand identity for energy efficiency in competitive energy services markets

    Energy Technology Data Exchange (ETDEWEB)

    Prindle, W.R.; Wiser, R.

    1998-07-01

    Resource commitments for energy efficiency from electricity companies are disappearing rapidly as the regulated Integrated Resource Planning and Demand-Side Management paradigms that fostered them give way to competitive power markets in a restructuring electricity industry. While free-market advocates claim that energy efficiency needs will be taken care of by competitive energy service providers, there is no assurance that efficiency will compete effectively with the panoply of other energy-related (and non-energy-related) services that are beginning to appear in early market offerings. This paper reports the results of a feasibility study for a certification and brand identity program for energy efficiency geared to competitive power markets. Funded by the Energy Foundation, this study involved a survey and personal interviews with stakeholders, plus a workshop to further the discussion. Stakeholders include independent power marketers and energy service companies, utility affiliate power marketers and energy service companies, government agencies, trade associations, non-profit organizations, equipment manufacturers, and consultants. The paper summarizes the study's findings on such key issues as: Whether a brand identity concept has a critical mass of interest and support; how qualification and certification could work in such a program; how a brand identity could be positioned in the market; how an efficiency brand identity could co-brand with renewable power branding programs and other green marketing efforts; and the resources and components needed to make such a program work on a national scale.

  17. Contributions to the financial mathematics of energy markets

    NARCIS (Netherlands)

    Permana, F.J.

    2008-01-01

    This thesis provides several contributions to quantitative finance for energy markets: electricity price modelling, implying oil price volatilities, pricing and hedging of exotic commodity options. Electricity spot prices are characterized by spikes (jumps) because electricity is non-storable. A

  18. Market power in interactive environmental and energy markets

    DEFF Research Database (Denmark)

    Amundsen, Eirik S; Nese, Gjermund

    2017-01-01

    electricity and TGC markets, and focus on the role of market power (i.e., Stackelberg leadership). One result is that a certificate system faced with market power may collapse into a system of per-unit subsidies. Also, the model shows that TGCs may be an imprecise instrument for regulating the generation......A market for tradable green certificates (TGCs) is strongly interwoven in the electricity market in that the producers of green electricity are also the suppliers of TGCs. Therefore, strategic interaction may result. We formulate an analytic equilibrium model for simultaneously functioning...

  19. Coordination of bidding strategies in day-ahead energy and spinning reserve markets

    International Nuclear Information System (INIS)

    Fushuan Wen; David, A.K.

    2002-01-01

    In this paper, the problem of building optimally coordinated bidding strategies for competitive suppliers in day-ahead energy and spinning reserve markets is addressed. It is assumed that each supplier bids 24 linear energy supply functions and 24 linear spinning reserve supply functions, one for each hour, into the energy and spinning reserve markets, respectively, and each market is cleared separately and simultaneously for all the 24 delivery hours. Each supplier makes decisions on unit commitment and chooses the coefficients in the linear energy and spinning reserve supply functions to maximise total benefits, subject to expectations about how rival suppliers will bid in both markets. Two different bidding schemes have been suggested for each hour, and based on them an overall coordinated bidding strategy in the day-ahead energy and spinning reserve market is then developed. Stochastic optimisation models are first developed to describe these two different bidding schemes and a genetic algorithm (GA) is then used to build the optimally coordinated bidding strategies for each scheme and to develop an overall bidding strategy for the day-ahead energy and spinning reserve markets. A numerical example is utilised to illustrate the essential features of the method. (Author)

  20. Energy policy and the market economy

    International Nuclear Information System (INIS)

    Ruehle, H.; Miegel, M.

    1980-01-01

    The consistent supply of the people with cheap energy is one of the biggest challenges of our time. There is hardly any other sphere where the opinions on the correct means and ways are as different as in energy policy. While some people see only the market as a suitable instrument to solve the energy problems, others are of the opinion that the problems can only be solved by planning by the government, quantitative restrictions, and other directive measures. The answer to this question involves long-term results, not only for our future energy policy. Planned economy in the energy section and marketing in all other sections cannot be continued for ever. The clarification of this question is the goal of these lectures and discussions held on the experts' meeting 'energy policy in marketing'. (orig.) [de

  1. Renewable energy markets in developing countries

    International Nuclear Information System (INIS)

    Martinot, Eric; Chaurey, Akanksha; Lew, Debra; Moreira, Jose Roberto; Wamukonya, Njeri

    2003-01-01

    Roughly 400 million households, or 40% of the population of developing countries, do not have access to electricity. Household and community demand for lighting, TV, radio, and wireless telephony in rural areas without electricity has driven markets for solar home systems, biogas-fueled lighting, small hydro mini-grids, wind or solar hybrid mini-grids, and small wind turbines. These technologies are not strictly comparable with each other, however; the level of service that households receive varies considerably by technology and by the specific equipment size used. Regardless of size, surveys and anecdotal evidence suggest that rural households value both electric lighting and television viewing. Growing numbers of individual equipment purchases, beyond government-driven programs, point to growing market demand. As energy consumption rises with increases in population and living standards, awareness is growing about the environmental costs of energy and the need to expand access to energy in new ways. As recognition grows of the contribution renewable energy can make to development, renewable energy is shifting from the fringe to the mainstream of sustainable development. Support for renewable energy has been building among those in government, multilateral organizations, industry, and non-governmental organizations. Commercial markets for renewable energy are expanding, shifting investment patterns away from traditional government and donor sources to greater reliance on private firms and banks. In this paper we take a market orientation, providing an aggregate review of past market experience, existing applications, and results of policies and programs. (BA)

  2. Outlook for electricity markets 2005-2006 : an energy market assessment

    International Nuclear Information System (INIS)

    2005-06-01

    The National Energy Board monitors the supply of electricity as well as its demand in both domestic and export markets. This document was produced in response to a survey with power generation, transmission and distribution companies, marketers, end-users, environmental groups and government agencies who demonstrated the need for more short-and medium-term energy market assessments to supplement the Board's longer term energy analysis. It on the short-term (2005-2006) issues that can have a long-term effect on the electricity sector. The document presents an analysis of Canadian electricity markets with particular focus on the main drivers affecting current trends in generation, demand, prices, infrastructure additions, and inter-regional and international trade. Current restructuring activities in Canada's electricity industry were also described along with the close relationship between the electricity sectors in Canada and the United States which stems from the integrated nature of the North American power grid. A regional market assessment and a summary was provided for each of Canada's provinces and territories with reference to market structure and current market developments. It was revealed that Canada's electricity markets have developed along provincial or regional boundaries. Utilities have tried to provide adequate and reliable electricity supply, environmental sustainability and acceptable electricity prices. It was concluded that supply is adequate in all regions in the short-term, but tight supply conditions could emerge as early as 2007. Alternative and renewable resource and demand management are becoming more important in addressing air quality issues and supply adequacy. Since uncertainty may delay investment and development of new infrastructure, utilities may be forced to increase electricity prices. It was suggested that interprovincial energy transfers should be further explored. Five recommendations were presented to address the key

  3. Deregulation in an energy market and its impact on R and D for low-carbon energy technology

    International Nuclear Information System (INIS)

    Nakada, Minoru

    2005-01-01

    This paper analyzes the impact of deregulation in an energy market on R and D activities for new energy technology when climate policy is implemented. A model of growth with vertical innovation is modified by including an oligopolistic energy supply sector for demonstrating to what extent deregulation in the energy supply sector will affect R and D activities for low-carbon energy technology, provided that carbon taxation is implemented. The analysis shows that, when the elasticity of substitution between input factors is less than unity, deregulation will drive energy R and D activities and reduce CO 2 accumulation if the energy market is highly concentrated in the beginning. (author)

  4. EU Energy Law. Volume 1. The Internal Energy Market. 2. ed.

    International Nuclear Information System (INIS)

    Jones, C.; Webster, W.

    2006-06-01

    European energy markets are undergoing rapid and fundamental change. In 2005 the European Council and European Parliament adopted the second energy liberalisation package, including the new electricity and Natural Gas Directives and the Electricity Regulation. In addition, the European Commission tabled new Directives on Security of Supply and a draft Natural Gas Regulation. This is affecting markets not only in the European Union, but throughout Europe, the Mediterranean, the Balkans and Russia. These changes have affected not only energy law. Community competition law in the energy sector has been evolving quickly, reacting to the restructuring of the markets, and the new commercial partnerships that result. EU Energy Law is a complete and essential reference work for all those advising on and implementing in practice the enormous changes in today's electricity and gas markets. It is written for both legal specialists and for those working in industry responsible for overseeing the move towards open and competitive markets

  5. Developing markets for renewable energy technologies

    International Nuclear Information System (INIS)

    Charters, W.W.S.

    2001-01-01

    Although renewable energy resources are now being utilised more on a global scale than ever before, there is no doubt their contribution to the energy economy can still be greatly increased. Recently international support for developing these relatively new sources of energy has been driven by their benefits as assessed by reduced environmental impact, particularly reduced greenhouse gas emissions. After several decades of continuous but somewhat erratic funding for research and development of renewables, it is time to take stock of the key issues to be addressed in terms of implementation of major renewable energy programmes on a large scale worldwide. One of the first steps in this process is the identification and encouragement of reliable continuous markets both in developed and developing nations. Future energy policy and planning scenarios should take into account the factors necessary to integrate renewables in all their diverse forms into the normal energy economy of the country. Other critical factors in market development will include the mass production of high quality, reliable and reasonable cost technical products and the provision of adequate finance for demonstrating market ready and near market renewables equipment. Government agencies need to aid in the removal of legislative and institutional barriers hindering the widespread introduction of non-conventional energy sources and to encourage the implementation of government purchasing schemes. Recent moves by companies in Australia to market 'green energy' to customers should also aid in the public awareness of the ultimate potential of renewables leading to greater use in the industrial, commercial and domestic sectors. (author)

  6. Documentation of the petroleum market model (PMM). Appendix: Model developer's report

    International Nuclear Information System (INIS)

    1994-01-01

    The Office of Integrated Analysis and Forecasting (OIAF) is required to provide complete model documentation to meet the EIA Model Acceptance Standards. The EIA Model Documentation: Petroleum Market Model of the National Energy Modeling System provides a complete description of the Petroleum Market Model's (PMM) methodology, and relation to other modules in the National Energy Modeling System (NEMS). This Model Developer's Report (MDR) serves as an appendix to the methodology documentation and provides an assessment of the sensitivity of PMM results to changes in input data. The MDR analysis for PMM is performed by varying several sets of input variables one-at-a-time and examining the effect on a set of selected output variables. The analysis is based on stand-alone, rather than integrated, National Energy Modeling System (NEMS) runs. This means that other NEMS modules are not responding to PMM outputs. The PMM models petroleum refining and marketing. The purpose of the PMM is to project petroleum product prices, refining activities, and movements of petroleum into the United States and among domestic regions. In addition, the PMM estimates capacity expansion and fuel consumption in, the refining industry. The PMM is also used to analyze a wide variety of petroleum-related issues and policies, in order to foster better understanding of the petroleum refining and marketing industry and the effects of certain policies and regulations. The PMM simulates the operation of petroleum refineries in the United States, including the supply and transportation of crude oil to refineries, the regional processing of these raw materials into petroleum products, and the distribution of petroleum products to meet regional demands. The essential outputs of this model are product prices, a petroleum supply/demand balance, demands for refinery fuel use, and capacity expansion

  7. Integration of energy markets with neighbouring countries

    International Nuclear Information System (INIS)

    Mulder, M.; Vermeulen, M.

    2008-01-01

    The Dutch wholesale markets for energy are still hindered by the various bottlenecks, which lead to higher costs for energy consumers than in well operating markets. A more efficient utilization of the import infrastructure could result in savings for energy consumers up to several tens of millions of euros. The managers of the transport infrastructure must take on a more active approach to eliminate these market obstacles. [mk] [nl

  8. Energy efficiency, market failures, and government policy

    International Nuclear Information System (INIS)

    Levine, M.D.; Koomey, J.G.; McMahon, J.E.; Sanstad, A.H.; Hirst, E.

    1994-03-01

    This paper presents a framework for evaluating engineering-economic evidence on the diffusion of energy efficiency improvements. Four examples are evaluated within this framework. The analysis provides evidence of market failures related to energy efficiency. Specific market failures that may impede the adoption of cost-effective energy efficiency are discussed. Two programs that have had a major impact in overcoming these market failures, utility DSM programs and appliance standards, are described

  9. Entry, concentration and market efficiency: A simulation of the PJM energy market

    Science.gov (United States)

    Harvill, Terry

    The rapid and substantial expansion of the PJM energy market during 2004 and 2005 provides a unique opportunity to test the theory of market concentration and its effect on market efficiency. With ten years of operational experience, the PJM energy market is uniquely suited to test the theories of market concentration and efficiency in a natural experiment. This research tests the hypothesis that, for a given number of generating units in the industry, system marginal price will be a decreasing function of the number of owners or generators controlling the units (i.e., the industry concentration ratio). Market simulations are utilized to assess price-cost markups in the PJM energy market during three distinct periods of expansion: (1) pre-Commonwealth Edison integration, (2) pre-American Electric Power (AEP), Dayton Power and Light (DPL), Duquesne Light (Duquesne), and Dominion Virginia Power (Dominion) integration, and (3) post-AFT, DPL. Duquesne, and Dominion Integration. The results of the market simulations for the May 1 to August 31 periods for 2003, 2004, and 2005, indicate that the performance of the market improved with the addition of new market participants in 2004 and 2005. The results of the simulation indicate that the load-weighted Lerner index decreased to -3.70 percent in 2005 from 0.92 percent in 2003. Clearly, the addition of Commonwealth Edison in 2004 significantly increased constraints within the PJM energy market and likely impacted the observed prices in PJM during 2004 due to the lack of a significant link to the other PJM market participants. This deficiency was address in 2005 with the addition of American Electric Power. The market simulations also highlight the prevalence of computed negative markups in the simulation results. Many of the off-peak periods in particular are characterized by negative markups where the expected marginal cost exceeds the observed price. Unit commitment constraints are believed to largely account for these

  10. The energy market in Flanders, Belgium, in 2006

    International Nuclear Information System (INIS)

    2007-05-01

    The Flemish Regulation Entity for the Electricity and Gas market (VREG) aims at becoming the knowledge centre of the liberalised energy market in Flanders, Belgium. Knowledge must be obtained and made available to the public with respect to the market for energy. This does not only involve aspects pertaining to the physical connection of grids across the borders of districts and countries, but also the effects of economic, political and financial decisions and tendencies in Flanders and surrounding area. In the past, data on the energy market were publishes as part of the annual report. As of 2006, reporting is separated. This Energy Market Report is built up based on data that was made available by the market parties. It focuses on the various actors and their market positions as well as on the specific historical and future evolutions. Moreover, market forces are portrayed. The price evolutions of the past years are analysed. Finally, attention is paid to the growing market of certificates.(mk) [nl

  11. Energy subsidies in California's electricity market deregulation

    International Nuclear Information System (INIS)

    Ritschel, Alexander; Smestad, G.P.

    2003-01-01

    Deregulation and re-regulation of California's electricity market not only failed in terms of anticipated cost reductions, improved customer service and higher competition, it also led to the introduction of various additional energy subsidies. This paper analyzes California's electricity market deregulation process from a subsidy viewpoint. Under deregulation in California, investor-owned utilities were not allowed to pass their energy procurement costs fully on to their customers, and therefore subsequently, and inevitably, ran into severe financial problems. Such retail price regulation is an energy subsidy that is both economically and environmentally unfavorable, because it veils true price signals to electricity consumers and, in this way, discourages energy conservation. Other policies implemented in California that represent perverse energy subsidies are the purchase of power by the state of California, the suspension of retail competition, and the potential misuse of money from the recovery of stranded costs. Many interventions implemented by the state to smooth out the impacts of the energy crisis insulated electricity consumers from market realities, supported the existing structure of California's electricity market, which is predominantly based on fossil fuels, and suppressed market incentives to improve energy conservation

  12. Evolution of gas markets and energy security

    Energy Technology Data Exchange (ETDEWEB)

    Mitrova, Tatiana

    2007-07-01

    Questions of energy security and international gas trade became indissolubly connected during the last years. Paradoxically during the evolution of natural gas markets concerns about security issues in gas trade are only growing at the same time as transaction costs. Market participants have developed several mechanisms of adaptation (vertical integration, mutual penetration of capital and long-term contracts) which should be regarded not as a market failure but as an essential part of energy security guarantees at the moment. Further gas market evolution will demand more unified institutional framework to decrease threats to energy security and transaction costs. But this framework should be a result of mutual compromise of all market participants. (auth)

  13. Energy market opening and the national energy programme in Slovenia

    International Nuclear Information System (INIS)

    Tomsic, M. G.; Urbancic, A.

    2000-01-01

    Slovenia is now moving fast toward market opening, at least in the electricity sector, due to the new Energy Law adopted in 1999. The Energy Law defines the main energy policy directions, including the sustainable development criterion. It also calls for the preparation of a National Energy Programme (NEP) to be adopted by the Parliament. According to the Law, local governments are expected to prepare local energy concepts, in line with the NEP and space planning decisions. Two most difficult challenges for national energy policies are: opening of the electricity market and meeting the Kyoto Protocol targets in the reduction of greenhouse gasses. The success of the energy sector reform depends on the fine-tuning of various instruments: market structuring and state interventions. The immediate concern for the sector in the secondary legislation, the fifty regulations that the Energy Law calls for. These regulations have to be prepared well before the date of internal electricity market opening on April 15th, 2001. The institutional structure to be established should be adapted for international competition that will start in electricity and gas no later than January 1st, 2003. It is expected that the NEP, to be prepared by spring of the year 2001, will propose complementary development strategies to cope with partially conflicting targets. Four groups of criteria shall be applied to compare the alternatives: security of supply, competitiveness of the society, preserving the space and environment quality and social cohesion. It is expected that energy market opening, not a final goal by itself, can be instrumental for the improvement of the energy sector performance on all accounts. (author)

  14. Competing in changing energy markets

    International Nuclear Information System (INIS)

    Hannell, M.D.

    1995-01-01

    This paper presents two perspectives: first, that of a successful exporter of energy products into world markets and second, that of a producer and seller of energy to consumers in South Australia and New South Wales - a large proportion of whom are privately and publicly owned trading organisations. It looks at Santos' experience in winning export markets for its liquid products; provides an overview of the changes - occurring and prospective to the Australian energy sector; and finally, discusses the outlook for Santos' South Australian gas business. The Australian energy-supply sectors have entered a period of unprecedented change. With energy being a contributor, and in many cases accounting for a large share of a traded good's cost, the impact of the emerging developments in the energy sector are of considerable significance

  15. The European market of renewable energies

    International Nuclear Information System (INIS)

    Anon.

    2011-09-01

    This market study on renewable energies presents: 1 - the different renewable energy industries for power generation: the field of renewable energies (hydropower, wind power, solar energy, geothermal energy and biomass power plants) and their common points, their characteristics, advantages and constraints; 2 - the political and regulatory context with its ambitious goals: main steps of worldwide negotiations, Europe and the management of CO 2 emissions, stiffening of the environmental regulation, the energy/climate package and the efforts to be borne by the different member states; 3 - Economy of the sector and the necessary public support: investment and production costs by industry, wholesale prices and competitiveness of the different power generation means, government's incentives for projects profitability; 4 - dynamics of the European market of renewable energies: energy-mix and evolution of the renewable energies contribution in the world and in the European Union, key-figures by country and by industry (installed capacity, production, turnover, employment); 5 - medium-term development perspectives: 2020 prospect scenarios, evolution of the energy mix, perspectives of development for each industry; 6 - the strengths in presence in the domain of facilities: main manufacturers, market shares, innovations, vertical integration, external growth; 7 - the strengths in presence in the domain of power facilities operation: main European operators, position and ranking, installed capacities, projects portfolio; 8 - medium-term perspectives of reconfiguration: best-positioned operators in a developing market, future of European manufacturers with respect to Asian ones, inevitable concentration in the operation sector. (J.S.)

  16. Stakes and consequences of the opening of energy markets

    International Nuclear Information System (INIS)

    Anon.

    2002-01-01

    This colloquium on the European energy market was organized by the group of energy studies of the commission of economic affairs of the French Senate. The aim of the colloquium was to debate the industrial organization of France in the context of opened energy markets. This article summarizes the point of view of the different participants concerning: the security of energy supplies, the situation of the opening of energy markets in the different European countries, the role of market regulation authorities, the necessary evolutions, the legal risks linked with open markets, and the examples of the German and US markets. (J.S.)

  17. Forward projections of energy market competitiveness rankings

    International Nuclear Information System (INIS)

    2008-01-01

    By July 2007, the provisions of the second Internal Market Directives for Electricity and Gas had been implemented in the majority of EU Member States. These fundamental changes in market opening, ownership structures and network access conditions, together with the increasing maturity of liberalised trading and retail markets, can be expected to affect the behaviour of existing and potential market participants, consequently affecting the energy market competitiveness of alternative countries. While the UK was the most competitive of the EU and G7 energy markets in 2006, the dynamic effect of the liberalisation programme across Continental Europe may challenge that position in the future. This report assesses how competitiveness rankings may evolve in the future, identifying changes that could take place in the UK and the rest of the EU from 2007 to 201 1. It goes on to explore the potential risk that the competitiveness of the UK's energy markets will decline relative to those of other countries in the EU and G7, to the extent that the PSA target will not be met. A detailed analysis of the potential changes in the UK markets is undertaken, including the development of upside and downside scenarios showing the positive and negative effects of changes in market structure and behaviour on the UK's competitiveness score. Changes in market structures required for energy markets in both the 2006 comparator group and the rest of the EU to become as competitive as the UK are then assessed, along with the plausibility of these changes given the current and future market, legislative and regulatory environments

  18. Modelling electricity forward markets by ambit fields

    DEFF Research Database (Denmark)

    Barndorff-Nielsen, Ole; Fred Espen Benth, Fred Espen; Veraart, Almut

    This paper proposes a new modelling framework for electricity forward markets, which is based on ambit fields. The new model can capture many of the stylised facts observed in energy markets. One of the main differences to the traditional models lies in the fact that we do not model the dynamics......, but the forward price directly, where we focus on models which are stationary in time. We give a detailed account on the probabilistic properties of the new model and we discuss martingale conditions and change of measure within the new model class. Also, we derive a model for the spot price which is obtained...

  19. Energy security: between markets and sovereign politics

    Directory of Open Access Journals (Sweden)

    Dudau Radu

    2016-09-01

    Full Text Available Energy security is a constant presence in the energy-related political discourse all over the world. States strive to secure steady inflows of needed energy supplies, as well as the price affordability of those supplies. However, what are deemed to be the best means to meet such goals depends on one’s theoretical vantage point. On the one hand, economically-minded theorists maintain that energy security is only a matter of market rules and interactions. Thus, they call upon energy markets to deliver both steady supplies and competitive prices. On the other hand, politically-minded scholars emphasize the political and hard-power nature of international energy trades, especially in a global context market by the emergence of state-centered, authoritarian regimes that use large national energy companies as foreign policy instruments. These two positions delineate competing approaches to how energy security risks ought to be managed. The former approaches energy security risks by means similar to portfolio management, requiring diversification of investments in order to insulate them from market shocks. The latter approaches energy security as a matter of foreign policy, by which states envisage interest coordination and favorable alignments within countervailing alliances against the agent of energy security risk. The present paper goes beyond the uncontentious point that these two dimensions are complementary. It argues that, depending on the international context, a more market-driven or a more-politically driven behavior may be adequate.

  20. International energy market

    International Nuclear Information System (INIS)

    De Boer, A.; Westrus, I.

    2001-01-01

    The industry, and later on households as well, are free to choose which company will be their energy supplier. The chances that it is going to be a foreign company are high. Many Dutch production companies were taken over by a foreign company. American companies, e.g. Reliant, Enron and TXU, Electrabel from Belgium and E.On from Germany all want a part of the Dutch industrial market. It is going to be a crowded market place and each company has it's own strategy to survive

  1. Extending market activities for a distribution company in hourly-ahead energy and reserve markets-Part II: Numerical results

    International Nuclear Information System (INIS)

    Mashhour, M.; Golkar, M.A.; Moghaddas-Tafreshi, S.M.

    2011-01-01

    The present work is to show the application and implementation of the algorithms and models proposed in part I. It also represents the simulation results of (a) extracting a lumped financial model (the aggregated model) of the distribution system with distributed generations (DGs) and interruptible loads (ILs), (b) distribution company's (DISCO's) process of decision-making, based on the created financial model, on allocating its generating capability for internal usage and proposing to the hourly-ahead energy and reserve markets, and (c) a profit-based network reconfiguration methodology that increases the DISCO's technical ability and directs its financial affairs towards more profitable transactions in the upcoming markets. The function of the algorithms used for detecting unfeasible configurations, namely loop path and/or isolated part in the network are shown and well exemplified. Influential factors in DISCO's generating capability and in the coefficients of DISCO's internal cost function (ICF) are investigated. The present study substantiates the ICF-based optimization method by comparing the relevant results with the results obtained based on the use of total cost function (TCF). Several scenarios on market prices of energy and reserve and on the contingency probability factor pertaining to the real-time generation in reserve market are considered. Simulation results indicate that getting more economical benefits, DISCO may necessarily play different roles in the market and change the network configuration, at different hours.

  2. Selling power : marketing energy under deregulation

    Energy Technology Data Exchange (ETDEWEB)

    Drummond, J.; Hanna, F.

    2001-07-01

    This book discussed the marketing of energy in a deregulated environment. Experience from long distance telephone service providers has shown that historical dominance is not a guarantee for future success. As new brands are introduced and as consumer choice increases, so does the ability to change from one provider to another. Price is only one of the factors prompting that change. Old rules and practices do not bind new competitors who must face the challenge of open competition and must be aware of the ever-changing face of business. It was recommended that the strategic solution would be to build a brand and to develop significant market shares and create effective customer retention programs. This book focused on the elements that energy marketing professionals must use to maintain and increase share without product differentiation. It also explained how energy providers can effectively attract and retain customers over the long term while keeping marketing and service delivery costs down. It was suggested that small players can compete with the growing strength of regional providers by creating new alliances between larger energy conglomerates. The chapters of the book were entitled: (1) Introduction, (2) The Goals of Deregulation, (3) Strategic Marketing Choices, (4) Relationship Marketing, (5) The Role of Customer Service, (6) The Question of Outsourcing, and (7) Final Thoughts and Observations. 24 refs., 3 figs.

  3. Selling power : marketing energy under deregulation

    International Nuclear Information System (INIS)

    Drummond, J.; Hanna, F.

    2001-01-01

    This book discussed the marketing of energy in a deregulated environment. Experience from long distance telephone service providers has shown that historical dominance is not a guarantee for future success. As new brands are introduced and as consumer choice increases, so does the ability to change from one provider to another. Price is only one of the factors prompting that change. Old rules and practices do not bind new competitors who must face the challenge of open competition and must be aware of the ever-changing face of business. It was recommended that the strategic solution would be to build a brand and to develop significant market shares and create effective customer retention programs. This book focused on the elements that energy marketing professionals must use to maintain and increase share without product differentiation. It also explained how energy providers can effectively attract and retain customers over the long term while keeping marketing and service delivery costs down. It was suggested that small players can compete with the growing strength of regional providers by creating new alliances between larger energy conglomerates. The chapters of the book were entitled: (1) Introduction, (2) The Goals of Deregulation, (3) Strategic Marketing Choices, (4) Relationship Marketing, (5) The Role of Customer Service, (6) The Question of Outsourcing, and (7) Final Thoughts and Observations. 24 refs., 3 figs

  4. Present market for nuclear energy

    International Nuclear Information System (INIS)

    Marzo, M.A.S.

    1987-01-01

    The present market for nuclear energy is present since nuclear production and electric power generation to the utilization of radioisotopes in medicine and biology. Some data about the main world suppliers to this market are shown. (E.G.) [pt

  5. Volatility Spillovers between Energy and Agricultural Markets: A Critical Appraisal of Theory and Practice

    Directory of Open Access Journals (Sweden)

    Chia-Lin Chang

    2018-06-01

    Full Text Available Energy and agricultural commodities and markets have been examined extensively, albeit separately, for a number of years. In the energy literature, the returns, volatility and volatility spillovers (namely, the delayed effect of a returns shock in one asset on the subsequent volatility or covolatility in another asset, among alternative energy commodities, such as oil, gasoline and ethanol across different markets, have been analysed using a variety of univariate and multivariate models, estimation techniques, data sets, and time frequencies. A similar comment applies to the separate theoretical and empirical analysis of a wide range of agricultural commodities and markets. Given the recent interest and emphasis in bio-fuels and green energy, especially bio-ethanol, which is derived from a range of agricultural products, it is not surprising that there is a topical and developing literature on the spillovers between energy and agricultural markets. Modelling and testing spillovers between the energy and agricultural markets has typically been based on estimating multivariate conditional volatility models, specifically the Baba, Engle, Kraft, and Kroner (BEKK and dynamic conditional correlation (DCC models. A serious technical deficiency is that the Quasi-Maximum Likelihood Estimates (QMLE of a Full BEKK matrix, which is typically estimated in examining volatility spillover effects, has no asymptotic properties, except by assumption, so that no valid statistical test of volatility spillovers is possible. Some papers in the literature have used the DCC model to test for volatility spillovers. However, it is well known in the financial econometrics literature that the DCC model has no regularity conditions, and that the QMLE of the parameters of DCC has no asymptotic properties, so that there is no valid statistical testing of volatility spillovers. The purpose of the paper is to evaluate the theory and practice in testing for volatility spillovers

  6. Energy is not Coffee. An assessment of blind spots on energy spot-markets

    International Nuclear Information System (INIS)

    Jepma, C.J.; Spijker, E.; Van der Gaast, W.; De Jong, F.; Overmars, P.

    2006-01-01

    This study was to be the first in a series of studies on the title subject. It specifically focuses on the differences and similarities with a number of other spot-markets and aims to frame the energy spot markets and their potential development into a broader perspective. Main conclusion is that energy spot-markets differ from several other physical and non-physical spot-markets in many ways. This implies that 'perfect' energy spot-markets may inherently be (much) less perfect than other spot-markets that have approximated the stage of theoretical perfection

  7. Nuclear energy in the increasingly deregulated brazilian energy market

    International Nuclear Information System (INIS)

    Mathias, Sergio G

    2003-01-01

    The Brazilian Electric Energy Market is presently undergoing an institutional transition from a strictly regulated to a commercially competitive market, due to be completed by January, 2006. The operation and maintenance costs of the two presently existing Brazilian nuclear power plants allow them to be economically competitive with other types of plants for meeting the load demand in the country. The commercialization of the energy produced by the two existing nuclear power plants must cope with the impact of the new market rules, which establish that power purchase contracts must be freely negotiated between generating and distributing companies. The projected costs for the construction and operation of a third NPP also indicate that it may be economically feasible under the new market rules (author)

  8. 77 FR 20375 - Application to Export Electric Energy; Rainbow Energy Marketing Corporation

    Science.gov (United States)

    2012-04-04

    ... Rainbow to transmit electric energy from the United States to Canada as a power marketer for a two-year... is a power marketer authorized by the Federal Energy Regulatory Commission to sell energy, capacity...

  9. 75 FR 78980 - Application to Export Electric Energy; Direct Energy Marketing, Inc.

    Science.gov (United States)

    2010-12-17

    ... Marketing, Inc. AGENCY: Office of Electricity Delivery and Energy Reliability, DOE. ACTION: Notice of Application. SUMMARY: Direct Energy Marketing, Inc. (DEMI) has applied to renew its authority to transmit..., Federal power marketing agencies, and other entities within the United States. The existing international...

  10. MARKETING MIX IN OLTENIA ENERGY COMPLEX

    Directory of Open Access Journals (Sweden)

    Păunescu Alberto Nicolae

    2012-12-01

    Full Text Available Electricity generation in Romania it’s realized in percentage 30 % in OLTENIA ENERGY COMPLEX. This is the biggest producer of energy, end coal in the country. Therefore Marketing mix is very important to ensure that the company grows. The final objective is that the volume of sales, market share and growth.

  11. The United States and world energy markets

    International Nuclear Information System (INIS)

    Ramsay, W.C.

    1992-01-01

    The United States, dominating the world's energy markets as a producer and consumer, is sensitive to changes in this market and intends to influence the development of global energy policy. Supply will be increased by nations such as Venezuela, Indonesia and perhaps in the future a United Yemen and the Commonwealth of Independent States, moving to freer market economies which will allow investment opportunities previously inaccessible to foreign companies. Although world energy demand will grow, little of this will be in the US where, under the National Energy Strategy, comprehensive measures are being introduced to improve energy efficiency. The US energy security will be further improved by such measures as diversification of supply, larger domestic production and increasing interdependence between suppliers, traders and consumers. (author)

  12. The energy supply of China. Markets and policies

    International Nuclear Information System (INIS)

    Noel, P.; Meidan, M.

    2005-07-01

    China is a great part of the energy world economy. In 2003 and 2004, the chinese economic growth had a direct impact on the world energy markets: it is a main factor of the great world economic demand growth and the energy prices increase. In the other hand this growth generates new investment of energy offer in the world. The author details the China energy policy and its efficiency quest, the insertion in the gas markets and the petroleum market facing the chinese energy security. (A.L.B.)

  13. Energy market reform and greenhouse gas emission reductions

    International Nuclear Information System (INIS)

    Anon.

    1999-01-01

    The report reviews micro-economic reform in the energy market and measures the impact that energy market reform is expected to have on greenhouse gas outcomes. It indicates that reform in the electricity and gas industries is delivering what was promised, an efficient market with lower energy prices and, over the longer term, will deliver a gradually reducing rate of greenhouse gas emissions per unit of energy produced. It also recognises that energy market reform has removed some barriers to the entry of less greenhouse gas intense fuels. These trends will result in reduced greenhouse gas intensity in the supply of energy and significant reductions in the growth in greenhouse gas emissions compared to what may have been expected without the reforms

  14. Electronic market places in the energy

    International Nuclear Information System (INIS)

    Mons, L.

    2001-12-01

    Electronic market places in the energy domain occurred at the end of the 90's in the US and have started to develop in Europe in the year 2000. About 60 platforms are registered today and this development can be explained by the advantages raised by such an infrastructure: simplification of purchase procedures, reduction of delays in the purchase decision, reduction of administrative costs etc.. However, today none of these electronic market places is profitable and several have closed down. On the other hand, this tool will certainly become necessary in the future and all energy actors are developing projects in this way. This study analyzes the electronic market places phenomenon in the energy domain using 10 market places examples with their key-factors of success. It draws out a complete status of the initiatives developed today and presents some scenarios of evolution. (J.S.)

  15. A golden age or a false dawn? Energy efficiency in UK competitive energy markets

    International Nuclear Information System (INIS)

    Eyre, N.

    1998-01-01

    Liberalisation of energy markets may affect the prospects for energy efficiency in a variety of ways. Downward pressure on prices will reduce incentives for efficiency and the end of a supply monopoly makes more difficult mandating demand side management programmes. On the other hand, the removal of price controls could end some regulatory disincentives, and liberalisation enables suppliers to market energy efficiency bundled with energy units. The overall effects of liberalisation for energy efficiency are therefore complex. This paper focuses on the effects of liberalisation on those characteristics of energy markets which underpin long-term energy inefficiency. These barriers to energy efficiency have been shown to arise from fundamental features of traditional utility markets - notably centralisation, commoditization and the complexity of demand side investment. The extent to which these will be altered in liberalised markets in the UK is considered. It is concluded that some important market imperfections are not addressed by competition in the supply of energy commodities. However, more fundamental changes may in the longer term encourage more differentiation in supply markets, in which there could be higher priority for energy efficiency. The policy measures which might encourage the process are discussed. (author)

  16. Gas analysis modeling system forecast for the Energy Modeling Forum North American Natural Gas Market Study

    International Nuclear Information System (INIS)

    Mariner-Volpe, B.; Trapmann, W.

    1989-01-01

    The Gas Analysis Modeling System is a large computer-based model for analyzing the complex US natural gas industry, including production, transportation, and consumption activities. The model was developed and first used in 1982 after the passage of the NGPA, which initiated a phased decontrol of most natural gas prices at the wellhead. The categorization of gas under the NGPA and the contractual nature of the natural gas market, which existed at the time, were primary factors in the development of the basic structure of the model. As laws and regulations concerning the natural gas market have changed, the model has evolved accordingly. Recent increases in competition in the wellhead market have also led to changes in the model. GAMS produces forecasts of natural gas production, consumption, and prices annually through 2010. It is an engineering-economic model that incorporates several different mathematical structures in order to represent the interaction of the key groups involved in the natural gas market. GAMS has separate supply and demand components that are equilibrated for each year of the forecast by means of a detailed transaction network

  17. Including investment risk in large-scale power market models

    DEFF Research Database (Denmark)

    Lemming, Jørgen Kjærgaard; Meibom, P.

    2003-01-01

    Long-term energy market models can be used to examine investments in production technologies, however, with market liberalisation it is crucial that such models include investment risks and investor behaviour. This paper analyses how the effect of investment risk on production technology selection...... can be included in large-scale partial equilibrium models of the power market. The analyses are divided into a part about risk measures appropriate for power market investors and a more technical part about the combination of a risk-adjustment model and a partial-equilibrium model. To illustrate...... the analyses quantitatively, a framework based on an iterative interaction between the equilibrium model and a separate risk-adjustment module was constructed. To illustrate the features of the proposed modelling approach we examined how uncertainty in demand and variable costs affects the optimal choice...

  18. The British Columbia natural gas market overview and assessment : an energy market assessment

    International Nuclear Information System (INIS)

    2004-04-01

    The National Energy Board monitors the supply of all energy commodities in Canada along with the demand for Canadian energy commodities in domestic and export markets. This report provides an assessment of the natural gas market in British Columbia (BC) and discusses several issues facing the market. The main challenges facing the market in recent years have been rising prices, price spikes and increased price volatility. New exploration and development projects have been announced along with new gas pipeline projects that move gas to eastern markets. Industrial consumers are exploring fuel alternatives to reduce natural gas consumption. Despite these challenges, the Board believes the natural gas market in British Columbia is working well. Natural gas prices are integrated with the North American market, consumers have responded to higher prices by reducing demand, and producers have increased exploration and production. Price discovery has improved due to better pricing reporting standards and access to electronic gas trading at pricing points for BC gas. The small market size in British Columbia and the lack of storage in the Lower Mainland limit market liquidity in comparison with other major market centres. 20 figs

  19. Portfolio diversification in energy markets

    International Nuclear Information System (INIS)

    Galvani, Valentina; Plourde, Andre

    2010-01-01

    This paper's results indicate that futures for crude oil, natural gas and unleaded gasoline fail to enhance the performance of representative energy stocks in terms of return to risk, but do decrease the overall level of risk exposure borne by passive equity investors. Our findings suggest that futures contracts on energy commodities are valuable to market participants with an interest in hedging against price fluctuations in energy markets by buy-and-hold strategies. However, this conclusion is reversed when one takes the perspective of traders whose core interests can be better approximated through the return to risk-bearing. In fact, this paper documents that return-to-risk maximizing agents are unlikely to profit from trading energy futures in addition to energy stocks. Moreover, futures for energy commodities fail to offer significant diversification gains with respect to energy stocks once investors adopt simple dynamic trading strategies that rely on readily available pricing information. (author)

  20. Portfolio diversification in energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Galvani, Valentina; Plourde, Andre [Department of Economics at the University of Alberta, Edmonton, AB (Canada)

    2010-03-15

    This paper's results indicate that futures for crude oil, natural gas and unleaded gasoline fail to enhance the performance of representative energy stocks in terms of return to risk, but do decrease the overall level of risk exposure borne by passive equity investors. Our findings suggest that futures contracts on energy commodities are valuable to market participants with an interest in hedging against price fluctuations in energy markets by buy-and-hold strategies. However, this conclusion is reversed when one takes the perspective of traders whose core interests can be better approximated through the return to risk-bearing. In fact, this paper documents that return-to-risk maximizing agents are unlikely to profit from trading energy futures in addition to energy stocks. Moreover, futures for energy commodities fail to offer significant diversification gains with respect to energy stocks once investors adopt simple dynamic trading strategies that rely on readily available pricing information. (author)

  1. Solar energy enters the market

    International Nuclear Information System (INIS)

    Coehoorn, M.; Sinke, W.C.

    1995-11-01

    Everybody agrees that there is a bright future for solar energy. After two decades of research and development, the market introduction of solar hot water systems is now taking off. In several countries, including the Netherlands, preparations are also underway for the large-scale introduction of photovoltaic systems. Although the share of thermal and photovoltaic solar energy in the energy supply sector in the Netherlands is very small (0.1 PJ) there are signs of imminent change. According to the Follow-up Policy Document on Energy Conservation, the share of solar energy should increase to 7 PJ by the year 2010. After years of concentrating on research and development, it is now generally recognised that it is time to introduce these technologies onto the market in order to realize the long-term objectives. In this respect, thermal solar energy is ahead of photovoltaics. 4 ills

  2. The Maritimes natural gas market overview and assessment : an energy market assessment

    International Nuclear Information System (INIS)

    2003-06-01

    The National Energy Board continually monitors the supply of all energy commodities in Canada along with the demand for Canadian energy commodities in domestic and export markets. This report provides an assessment of the functioning of the natural gas market in the Maritimes and discusses several issues facing the market. The focus of the report is on the existing markets served by the Maritimes and Northeast Pipeline (M and NP) in Nova Scotia and New Brunswick. It also includes Prince Edward Island, another Maritime market that may be served by the pipeline before the end of the decade. Since the initiation of the Sable Offshore Energy (SOE) Project more than 3 years ago, pipeline facilities have been built off the mainline M and NP system to serve Halifax and Point Tupper in Nova Scotia, and Saint John, Moncton, and St. George in New Brunswick. Enbridge Gas New Brunswick has built distribution facilities in Fredericton and Oromocto, New Brunswick to serve large industrial, commercial and residential consumers. A distribution system has not been set up for residential or commercial customers in Nova Scotia. Approximately 20 per cent of the Scotian production is being consumed in the Maritimes, while 80 per cent of the gas produced from the SOE Project is being exported to the United States. Despite the high export, the Board is satisfied that the market is working to the benefit of Canadians because energy users in the Maritimes already have access to a variety of fuels at competitive prices. The Maritimes also benefited from the development of the natural gas industry and the export market has provided a large anchor market necessary for the development of offshore reserves. Domestic demand has also grown due to a pipeline system policy that has maintained low transportation rates to domestic users. The challenges facing the Maritimes gas market include the fact than many of the markets in the Maritimes are small, thereby reducing the economics of serving these

  3. Wind energy. Market prospects to 2006

    International Nuclear Information System (INIS)

    Huckle, R.

    2002-01-01

    Renewable energy is becoming an increasingly significant source in the energy portfolio of most countries. Several sources of renewable energy are now being pursued commercially and wind energy is the most advanced in terms of installed electricity generation capacity. Of all types of renewable energy wind energy is the one with which there is the greatest experience - wind wheels and windmills have been used in various forms for hundreds of years. Chapter 1 is an introduction to the market study. Chapter 2 begins with a review of the wind energy industry. Topics included here are the case for wind energy (sustainability, security, non-polluting etc), market structure (the relationship between developers, operators, manufacturers, consortia etc) and environmental issues. This is followed by a discussion of the wind energy market for major countries in terms of installed wind power capacity. Within each country market there is an account of government policy, major wind energy programmes, major projects with information on developers and wind turbine manufacturers. A market analysis is given which includes an economic review, wind energy targets (where they exist) and forecasts to 2006. Chapter 3 is a review of wind turbine applications covering electricity generation for public supply networks, stand alone/community applications, water pumping and water desalination. Chapter 4 provides the basic principles of wind turbine operation and associated technologies. A brief account is given of the development of wind turbines and the main components such as the tower, rotor blades, gearbox, generator and electrical controls. Electricity generation and control are outlined and the challenge of electricity storage is also discussed. Meteorological factors (wind speed etc) and the move towards off-shore wind farms are also covered. Chapter 5 contains profiles of leading wind project developers and wind turbine manufacturers. A selection of existing and proposed wind farms

  4. Transactive-Market-Based Operation of Distributed Electrical Energy Storage with Grid Constraints

    Directory of Open Access Journals (Sweden)

    M. Nazif Faqiry

    2017-11-01

    Full Text Available In a transactive energy market, distributed energy resources (DERs such as dispatchable distributed generators (DGs, electrical energy storages (EESs, distribution-scale load aggregators (LAs, and renewable energy sources (RESs have to earn their share of supply or demand through a bidding process. In such a market, the distribution system operator (DSO may optimally schedule these resources, first in a forward market, i.e., day-ahead, and in a real-time market later on, while maintaining a reliable and economic distribution grid. In this paper, an efficient day-ahead scheduling of these resources, in the presence of interaction with wholesale market at the locational marginal price (LMP, is studied. Due to inclusion of EES units with integer constraints, a detailed mixed integer linear programming (MILP formulation that incorporates simplified DistFlow equations to account for grid constraints is proposed. Convex quadratic line and transformer apparent power flow constraints have been linearized using an outer approximation. The proposed model schedules DERs based on distribution locational marginal price (DLMP, which is obtained as the Lagrange multiplier of the real power balance constraint at each distribution bus while maintaining physical grid constraints such as line limits, transformer limits, and bus voltage magnitudes. Case studies are performed on a modified IEEE 13-bus system with high DER penetration. Simulation results show the validity and efficiency of the proposed model.

  5. Futures hedging effectiveness under the segmentation of bear/bull energy markets

    International Nuclear Information System (INIS)

    Chang, Chiao-Yi; Lai, Jing-Yi; Chuang, I-Yuan

    2010-01-01

    This article undertakes eight hedging models (Regression, MD-GARCH, BEKK-GARCH, CCC-GARCH, ECM-MD, ECM-BEKK, ECM-CCC, and state space models) to investigate hedging effectiveness of different price scenarios in energy futures markets. Different models have systematically evidenced that hedging effectiveness is higher in an increasing pattern (termed 'bull markets') than in a decreasing pattern (termed 'bear markets') for crude oil and gasoline futures. That is, findings show asymmetric hedging performance between upward and downward price trends consistently from the most popular hedging models in literature. Out-of-sample examination also suggests that the ranking of hedging effectiveness of different hedging models is not parallel in different price patterns across futures contracts, implying that investors should adjust their hedging strategies accordingly. (author)

  6. Market in Germany. Renewable energy and energy conservation in the German construction industry

    International Nuclear Information System (INIS)

    2008-02-01

    This market survey for Germany is on the subject of renewable energy and energy efficient constructing and housing improvement. In order to meet sectoral or thematic information needs of Dutch exporting industries and investing companies, the EVD facilitates the realisation of up-to-date market surveys on promising markets in selected countries. The requested study is very relevant for the Dutch exporting industry, as the German building and construction market is of increasing importance to the Dutch building, installation and equipment building sector. Moreover the German market is a European innovator on renewable energy (RE) and energy efficient (EE) homes or even so-called 'passive' houses. The developments in the German market can guide the Dutch industry in the development of their export strategies. The main target groups for the market surveys are small- and medium-sized enterprises (SMEs) in the Netherlands. Interesting groups among these SMEs are those enterprises that start their business on a foreign market [nl

  7. Model documentation coal market module of the National Energy Modeling System

    International Nuclear Information System (INIS)

    1997-02-01

    This report documents the objectives and the conceptual and methodological approach used in the development of the Coal Production Submodule (CPS). It provides a description of the CPS for model analysts and the public. The Coal Market Module provides annual forecasts of prices, production, and consumption of coal

  8. Model documentation coal market module of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-02-01

    This report documents the objectives and the conceptual and methodological approach used in the development of the Coal Production Submodule (CPS). It provides a description of the CPS for model analysts and the public. The Coal Market Module provides annual forecasts of prices, production, and consumption of coal.

  9. Evaluating demand side measures in simulation models for the power market

    International Nuclear Information System (INIS)

    Wolfgang, Ove; Doorman, Gerard

    2011-01-01

    Increased energy efficiency is one of the pillars for reducing CO 2 emissions. However, in models for the electricity market like unit commitment and dispatch models, increased efficiency of demand results in a paradoxical apparent reduction of the total economic surplus. The reason is that these are partial models for the electricity market, which do not take into account the effect of the changes in other markets. This paper shows how the calculation of the consumer surplus in the electricity market should be corrected to take into account the effect in other markets. In different cases we study shifts in the demand curve that are caused by increased energy efficiency, reduced cost for substitutes to electricity and real-time monitoring of demand, and we derive the necessary correction. The correction can easily be included in existing simulation models, and makes it possible to assess the effect of changes in demand on economic surplus. (author)

  10. Managing customer loyalty in liberalized residential energy markets: the impact of energy branding

    International Nuclear Information System (INIS)

    Hartmann, P.; Ibanez, V.A.

    2007-01-01

    In numerous recently deregulated energy markets, utilities previously operating in monopolistic environments are now focusing on customer satisfaction and loyalty. In this study, a conceptual framework is proposed that analyses the effects of brand associations and perceived switching costs on customer satisfaction and loyalty in residential energy markets. Several brand associations relevant to energy branding are identified: perceived technical service quality and service process quality, perception of value-added services, environmental and social commitment of the company, brand trust, price perceptions and brand associations related to the corporate attributes 'innovative and dynamic'. Subsequently, the proposed model is tested in the scope of a representative survey of Spanish residential energy customers. Results indicate that customer satisfaction, brand trust and perceived switching costs are positively related to customer loyalty and that brand trust exerts a stronger influence on customer loyalty than satisfaction and switching costs. Findings also show significant effects of the perception of service process quality and environmental and social commitment on loyalty via customer satisfaction. Implications for energy brand managers and regulators are discussed. [Author

  11. Managing customer loyalty in liberalized residential energy markets: The impact of energy branding

    International Nuclear Information System (INIS)

    Hartmann, Patrick; Apaolaza Ibanez, Vanessa

    2007-01-01

    In numerous recently deregulated energy markets, utilities previously operating in monopolistic environments are now focusing on customer satisfaction and loyalty. In this study, a conceptual framework is proposed that analyses the effects of brand associations and perceived switching costs on customer satisfaction and loyalty in residential energy markets. Several brand associations relevant to energy branding are identified: perceived technical service quality and service process quality, perception of value-added services, environmental and social commitment of the company, brand trust, price perceptions and brand associations related to the corporate attributes 'innovative and dynamic'. Subsequently, the proposed model is tested in the scope of a representative survey of Spanish residential energy customers. Results indicate that customer satisfaction, brand trust and perceived switching costs are positively related to customer loyalty and that brand trust exerts a stronger influence on customer loyalty than satisfaction and switching costs. Findings also show significant effects of the perception of service process quality and environmental and social commitment on loyalty via customer satisfaction. Implications for energy brand managers and regulators are discussed

  12. Managing customer loyalty in liberalized residential energy markets: the impact of energy branding

    Energy Technology Data Exchange (ETDEWEB)

    Hartmann, P.; Ibanez, V.A. [University of the Basque Country, Bilbao (Spain). Facultad de Ciencias Economicas y Empresariales

    2007-04-15

    In numerous recently deregulated energy markets, utilities previously operating in monopolistic environments are now focusing on customer satisfaction and loyalty. In this study, a conceptual framework is proposed that analyses the effects of brand associations and perceived switching costs on customer satisfaction and loyalty in residential energy markets. Several brand associations relevant to energy branding are identified: perceived technical service quality and service process quality, perception of value-added services, environmental and social commitment of the company, brand trust, price perceptions and brand associations related to the corporate attributes 'innovative and dynamic'. Subsequently, the proposed model is tested in the scope of a representative survey of Spanish residential energy customers. Results indicate that customer satisfaction, brand trust and perceived switching costs are positively related to customer loyalty and that brand trust exerts a stronger influence on customer loyalty than satisfaction and switching costs. Findings also show significant effects of the perception of service process quality and environmental and social commitment on loyalty via customer satisfaction. Implications for energy brand managers and regulators are discussed. [Author].

  13. What is the optimum social marketing mix to market energy conservation behaviour: an empirical study.

    Science.gov (United States)

    Sheau-Ting, Low; Mohammed, Abdul Hakim; Weng-Wai, Choong

    2013-12-15

    This study attempts to identify the optimum social marketing mix for marketing energy conservation behaviour to students in Malaysian universities. A total of 2000 students from 5 major Malaysian universities were invited to provide their preferred social marketing mix. A choice-based conjoint analysis identified a mix of five social marketing attributes to promote energy conservation behaviour; the mix is comprised of the attributes of Product, Price, Place, Promotion, and Post-purchase Maintenance. Each attribute of the mix is associated with a list of strategies. The Product and Post-purchase Maintenance attributes were identified by students as the highest priority attributes in the social marketing mix for energy conservation behaviour marketing, with shares of 27.12% and 27.02%, respectively. The least preferred attribute in the mix is Promotion, with a share of 11.59%. This study proposes an optimal social marketing mix to university management when making decisions about marketing energy conservation behaviour to students, who are the primary energy consumers in the campus. Additionally, this study will assist university management to efficiently allocate scarce resources in fulfilling its social responsibility and to overcome marketing shortcomings by selecting the right marketing mix. Copyright © 2013 Elsevier Ltd. All rights reserved.

  14. The single European energy market: the electricity supply sector

    International Nuclear Information System (INIS)

    Halliwell, A.A.

    1991-01-01

    The completion of the Internal Market in the Community by the end of 1992 has become a key objective and the focal point of the revival of the European Community. Within this overall objective, the development of the Single European Energy Market, the Internal Energy market, is a major element. The energy objectives for the Community, adopted in 1986 by the Council of Ministers and relating to targets in the energy sector to be achieved by 1995, contain what are effectively the aims of the Internal Energy Market. This is in a reference to the need for greater integration, free from barriers to trade, of the Internal Energy Market with a view to improving security of supply, reducing costs and improving economic competitiveness. In the light of these aims, the Commission drew up, in 1988, an inventory of potential obstacles to the achievement of the Internal Energy Market. This was accepted by the Council, together with a list of suggested priority areas of work, and has formed the basis of the Commission's efforts to move forward as quickly as possible in the development of the Internal Energy Market, in all branches of the energy sector. The impact on the electricity sector, in particular, is considered here. (author)

  15. Achieving energy efficiency in restructured markets, implications for IRP

    International Nuclear Information System (INIS)

    Giraldo, J.M.M.

    1997-01-01

    The shift of the focus of the vertically integrated model to the new unbundled models of organization to attain a ''new competitive'' Electricity Supply Industry brings new subjects into IRP (Integrated Resource Planning) study. The decision centralization on new capacity additions is being substituted by market mechanisms, changing the implementation of the IRP regarding both the construction of new capacity and the DSM. The implication for DSM is that, without a central planning process, it will not be possible to carry out IRP. In some countries they are implementing policies tending to create a more favourable attitude towards energy efficiency, in products and services. The conventional programmes of Demand-Side Management are being redesigned as added-value services to conserve or create market quota through Market Transformation mechanisms, such as Technology Procurement. (author)

  16. Emerging Markets for Renewable Energy Certificates: Opportunities and Challenges

    Energy Technology Data Exchange (ETDEWEB)

    Holt, E.; Bird, L.

    2005-01-01

    Renewable energy certificates (RECs) represent the attributes of electricity generated from renewable energy sources. These attributes are unbundled from the physical electricity, and the two products-the attributes embodied in the certificates and the commodity electricity-may be sold or traded separately. RECs are quickly becoming the currency of renewable energy markets because of their flexibility and the fact that they are not subject to the geographic and physical limitations of commodity electricity. RECs are currently used by utilities and marketers to supply renewable energy products to end-use customers as well as to demonstrate compliance with regulatory requirements, such as renewable energy mandates. The purpose of this report is to describe and analyze the emerging market for renewable energy certificates. It describes how RECs are marketed, examines RECs markets including scope and prices, and identifies and describes the key challenges facing the growth and success of RECs markets.

  17. 75 FR 35017 - Brookfield Energy Marketing LP; Supplemental Notice That Initial Market-Based Rate Filing...

    Science.gov (United States)

    2010-06-21

    ... Energy Marketing LP; Supplemental Notice That Initial Market-Based Rate Filing Includes Request for... proceeding of Brookfield Energy Marketing LP's application for market-based rate authority, with an... protests and interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov . To...

  18. The economics of energy market transformation programs

    International Nuclear Information System (INIS)

    Duke, R.; Kammen, D.M.

    1999-01-01

    This paper evaluates three energy-sector market transformation programs: the US Environmental Protection Agency's Green Lights program to promote on-grid efficient lighting; the World Bank Group's new Photovoltaic Market Transformation Initiative; and the federal grain ethanol subsidy. The authors develop a benefit-cost model that uses experience curves to estimate unit cost reductions as a function of cumulative production. Accounting for dynamic feedback between the demand response and price reductions from production experience raises the benefit-cost ratio (BCR) of the first two programs substantially. The BCR of the ethanol program, however, is approximately zero, illustrating a technology for which subsidization was not justified. Their results support a broader role for market transformation programs to commercialize new environmentally attractive technologies, but the ethanol experience suggests moderately funding a broad portfolio composed of technologies that meet strict selection criteria

  19. Municipal energy and climate policy in a liberalized energy market

    International Nuclear Information System (INIS)

    Burger, H.

    2001-05-01

    Due to the ongoing process of liberalisation, Dutch municipal energy policy is undergoing significant changes. The probable privatisation of energy companies, the change from what used to be 'their' local energy company to what will become an energy company, results in a need for local administrations to build up energy knowledge, end-use information and financial resources that 'their' energy companies used to share but, because of operating in a competitive market, are now more reluctant to do so. On the other hand offers privatisation and the selling of shares the possibility for some local governments to collect a significant sum of money which can be addressed to energy policy. This process of growing responsibility of local administrations for their own energy policy coincides with the structural change of the nature of the energy supply in the Netherlands. The change towards a more decentralised energy supply results in more energy systems (e.g. PV and wind) coming under the influence of local regulations. Municipal governments will have to act more like actors in a complex policy network, playing different roles at different times in different situations, often stimulating and regulating at the same time. The growing popularity of platforms like energy agencies, bringing together parties like the local government, energy companies and commercial- and housing associations are examples hereof. In this report, another new role for local governments resulting from the liberalisation process is highlighted: the role of energy consumer. It is estimated that the aggregated electricity demand resulting from activities under direct municipal responsibility (e.g. municipal dwellings, traffic lights, public lighting) amounts to a fairly large share of the market. Due to the public interests vested in the local administrations, it is expected that an important part of this demand is demand for green electricity. Also, local governments can use the energy markets to act

  20. Capacity adequacy in power markets facing energy transition: A comparison of scarcity pricing and capacity mechanism

    International Nuclear Information System (INIS)

    Petitet, Marie; Finon, Dominique; Janssen, Tanguy

    2017-01-01

    This article analyses how a capacity mechanism can address security of supply objectives in a power market undergoing an energy transition that combines energy efficiency efforts to stabilise demand and a rapid increase in the proportion of renewables. To analyse this situation, power markets are simulated over the long term with a System Dynamics model integrating new investment and closure decisions. This last trait is relevant to studying investment in power generation in mature markets undergoing policy shocks. The energy-only market design with a price cap, with and without a capacity mechanism, is compared to scarcity pricing in two investment behaviour scenarios with and without risk aversion. The results show that the three market designs lead to different levels of risk for peaking unit investment and results thus differ according to which risk aversion hypothesis is adopted. Assuming a risk-neutral investor, the results indicate that compared to an energy-only market with a price cap at 3 000 €/MWh, an energy-only market with scarcity pricing and the market design with a capacity mechanism are two efficient options to reach similar levels of load loss. But under the hypothesis of risk aversion, the results highlight the advantage of the capacity mechanism over scarcity pricing. - Highlights: • Investment decisions in electricity markets are simulated by a System Dynamics model. • Capacity mechanism enhances capacity adequacy compared to the energy-only market. • With no risk aversion, capacity mechanism or scarcity pricing provide similar results. • With risk aversion, capacity mechanism appears to be the preferable market design.

  1. Multi-objective market clearing of joint energy and reserves auctions ensuring power system security

    International Nuclear Information System (INIS)

    Aghaei, J.; Shayanfar, H.; Amjady, N.

    2009-01-01

    A model and solution approach to day-ahead market clearing of joint energy and reserves auctions is proposed in this paper. The model represents the clearing system used by ISO in charge of both the market operation and system security. A Multiobjective Mathematical Programming (MMP) formulation is implemented for provision of ancillary services (Automatic Generation Control or AGC, Spinning, Non-spinning and operational reserves) as well as energy in simultaneous auctions by pool-based aggregated market scheme. System security is taken into account in the market clearing procedure as the extra objective functions of the optimization problem. So, in the MMP formulation of the market clearing process, the objective functions (generation cost and security indices) are optimized while meeting AC power flow constraints, system reserve requirements and lost opportunity cost (LOC) considerations. The model is applied to the IEEE 24-bus Reliability Test System (IEEE 24-bus RTS), and simulation studies are carried out to examine the effectiveness of the proposed method

  2. Futures hedging effectiveness under the segmentation of bear/bull energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Chang, Chiao-Yi [Department of Money and Banking, National Kaohsiung First University of Science and Technology, No. 2, Jhuoyue Rd., Nanzih, Kaohsiung City, 811 (China); Lai, Jing-Yi; Chuang, I-Yuan [Department of Finance, National Chung-Cheng University, No. 168, University Rd., Ming-Hsiung, Chia-Yi 62102. (China)

    2010-03-15

    This article undertakes eight hedging models (Regression, MD-GARCH, BEKK-GARCH, CCC-GARCH, ECM-MD, ECM-BEKK, ECM-CCC, and state space models) to investigate hedging effectiveness of different price scenarios in energy futures markets. Different models have systematically evidenced that hedging effectiveness is higher in an increasing pattern (termed 'bull markets') than in a decreasing pattern (termed 'bear markets') for crude oil and gasoline futures. That is, findings show asymmetric hedging performance between upward and downward price trends consistently from the most popular hedging models in literature. Out-of-sample examination also suggests that the ranking of hedging effectiveness of different hedging models is not parallel in different price patterns across futures contracts, implying that investors should adjust their hedging strategies accordingly. (author)

  3. Wind offering in energy and reserve markets

    Science.gov (United States)

    Soares, T.; Pinson, P.; Morais, H.

    2016-09-01

    The increasing penetration of wind generation in power systems to fulfil the ambitious European targets will make wind power producers to play an even more important role in the future power system. Wind power producers are being incentivized to participate in reserve markets to increase their revenue, since currently wind turbine/farm technologies allow them to provide ancillary services. Thus, wind power producers are to develop offering strategies for participation in both energy and reserve markets, accounting for market rules, while ensuring optimal revenue. We consider a proportional offering strategy to optimally decide upon participation in both markets by maximizing expected revenue from day-ahead decisions while accounting for estimated regulation costs for failing to provide the services. An evaluation of considering the same proportional splitting of energy and reserve in both day- ahead and balancing market is performed. A set of numerical examples illustrate the behavior of such strategy. An important conclusion is that the optimal split of the available wind power between energy and reserve strongly depends upon prices and penalties on both market trading floors.

  4. Determinants of Renewable Energy Innovation: Environmental Policies vs. Market Regulation

    International Nuclear Information System (INIS)

    Vona, Francesco; Nesta, Lionel; Nicolli, Francesco

    2012-02-01

    This paper carries out a comprehensive analysis of renewable energy innovations considering four mechanisms suggested by innovation models: 1. policy-inducement; 2. market structure; 3. demand and social cohesion- mainly proxied by income inequality; 4. characteristics of country knowledge base. For OECD countries and years 1970-2005, we build a unique dataset containing time-varying information on quality-adjusted patent production in renewable energy, the latter being a function of environmental policies, green R and D, entry barriers, knowledge stock, knowledge diversity and income inequality. We develop count data models using the Generalized Method of Moments (GMM) to account for endogeneity of policy support. Our synthetic policy index positively affects innovations especially in countries with deregulated energy markets and low entry barriers. The effect of entry barriers and inequality is negative and of similar magnitude as that of policy. Product market liberalization positively affects green patent generation, especially so when ambitious policies are adopted, when the initial level of public R and D expenditures and when the initial share of distributed energy generation is high. Our results are robust to alternative specifications, to the inclusion of technology-specific effects and to the use of quality-adjusted patents as dependent variables. In the latter case, the estimated effect of lowering entry barriers and of knowledge diversity almost double on citation count relatively to patent count. (authors)

  5. Promoting nuclear energy: market price or regulated tariffs? - 5042

    International Nuclear Information System (INIS)

    Percebois, J.

    2015-01-01

    Because of its negative effects, the scheme for aiding renewable energies presently in force in Europe is likely to penalise investments in nuclear energy. The F.I.T. system is a costly mechanism and a source of perverse effects as a switching of the merit order curve on the spot electricity market (with sometimes negative prices). Restoring an equity and 'equal opportunity' for nuclear energy in Europe needs to implement a 'Contract for Differences' scheme for nuclear energy, like the model now gaining favour in the U.K. The contract for differences signed between EDF and the UK government means that if the wholesale price that EDF secures for Hinckley's power falls below the index-linked preset value, the difference will be covered by payments from the UK government. It appears that nuclear power has weakened in Europe by the system of guaranteed purchase prices for renewable energies. Moreover this system is costly. New fairer rules must be implemented in the market. Either the market is left on its own to send the signals to all investors (including renewable energies), or a minimum of regulation is introduced in order to limit the costly surges of under and over capacity. But in the latter case it is necessary to treat all the energy sources in an equal way and guarantee the nuclear industry that it will also recover its fixed costs over the long term)

  6. Battery energy storage market feasibility study

    Energy Technology Data Exchange (ETDEWEB)

    Kraft, S. [Frost and Sullivan, Mountain View, CA (United States); Akhil, A. [Sandia National Labs., Albuquerque, NM (United States). Energy Storage Systems Analysis and Development Dept.

    1997-07-01

    Under the sponsorship of the Department of Energy`s Office of Utility Technologies, the Energy Storage Systems Analysis and Development Department at Sandia National Laboratories (SNL) contracted Frost and Sullivan to conduct a market feasibility study of energy storage systems. The study was designed specifically to quantify the energy storage market for utility applications. This study was based on the SNL Opportunities Analysis performed earlier. Many of the groups surveyed, which included electricity providers, battery energy storage vendors, regulators, consultants, and technology advocates, viewed energy storage as an important enabling technology to enable increased use of renewable energy and as a means to solve power quality and asset utilization issues. There are two versions of the document available, an expanded version (approximately 200 pages, SAND97-1275/2) and a short version (approximately 25 pages, SAND97-1275/1).

  7. The BERR gas market model

    International Nuclear Information System (INIS)

    2007-10-01

    Security of supply is one of the key objectives in the UK's department of Business Enterprise and Regulatory Reform (BERR) gas market model. BERR found that a useful way to measure energy security was to estimate future 'expected energy unserved'. This comprises a combination of possible levels of shortfall between supply and demand and other probabilities to give a probability-weighted amount of unserved demand. BERR has also studied the conditions (inputs) that are likely to result in lower expected energy unserved, i.e. it has identified the drivers of security of supply and has developed a framework for categorising these drivers

  8. Renewable energies enter the stock market

    International Nuclear Information System (INIS)

    Boulanger, Vincent

    2016-01-01

    This article describes the new context created by the obligation for renewable energy installations to sell their electricity directly on the market. Thus, new practices and new actors appear like aggregators which belong to three categories: trading departments or subsidiary companies of national operators, trading departments or subsidiary companies of developers and producers of renewable energy, or independent market operators. The author describes the different cases in which renewable electricity producers will need aggregators (the mandatory purchase contract reaches its end, an additional income in the case of bidding or outside this case). The author also describes the role and responsibilities of aggregators, notably with respect to RTE. Such a market operation of course results in the taking of the electricity price on the stock market into account, and in the associated risks for aggregators

  9. German energy market 2014; Deutscher Energiemarkt 2014

    Energy Technology Data Exchange (ETDEWEB)

    Schiffer, Hans-Wilhelm [World Energy Council, London (United Kingdom). World Energy Resources; Weltenergierat - Deutschland, Berlin (Germany). Arbeitsgruppe ' Energie fuer Deutschland'

    2015-03-15

    In 2014 the German government's primary goal of engaging German power suppliers to step up their production of renewable energy while speeding up energy efficiency improvement measures continued to dominate the debate. The present article provides an updated overview of the German energy market. Following on from last year's edition it gives a condensed synopsis of key indicators of the energy economy. Besides summarising general facts about the energy mix it goes into detail about the following individual energy resources: crude oil, natural gas, brown coal, hard coal, nuclear energy and renewable energies. It also explains current price trends in both the international and domestic markets.

  10. The World gas model. A multi-period mixed complementarity model for the global natural gas market

    International Nuclear Information System (INIS)

    Egging, Ruud; Holz, Franziska; Gabriel, Steven A.

    2010-01-01

    We provide the description, mathematical formulation and illustrative results of the World Gas Model, a multi-period complementarity model for the global natural gas market with explicit consideration of market power in the upstream market. Market players include producers, traders, pipeline and storage operators, LNG (liquefied natural gas) liquefiers and regasifiers as well as marketers. The model data set contains more than 80 countries and regions and covers 98% of world wide natural gas production and consumption. We also include a detailed representation of cross-border natural gas pipelines and constraints imposed by long-term contracts in the LNG market. The model is calibrated to match production and consumption projections from the PRIMES [EC. European energy and transport: trends to 2030-update 2007. Brussels: European Commission; 2008] and POLES models [EC. World energy technology outlook - 2050 (WETO-H2). Brussels: European Commission; 2006] up to 2030. The results of our numerical simulations illustrate how the supply shares of pipeline and LNG in various regions in the world develop very differently over time. LNG will continue to play a major role in the Asian market, also for new importers like China and India. Europe will expand its pipeline import capacities benefiting from its relative proximity to major gas suppliers. (author)

  11. Renewable energy market overview 2000

    International Nuclear Information System (INIS)

    Mahoney, Nicholas

    2001-01-01

    The article discusses the findings of a recent survey on the renewable energy market carried out in 164 countries and across a wide range of sectors of industry. The survey found almost unanimous optimism regarding the growth of the renewable energy market over the coming year. Tables show (i) the survey sample (in terms of continents, database population and responses); (ii) subsidiaries and locations of parent companies; (iii) expectations of sales next year (by continent) and (iv) expectations of sales in the coming year by sector. Figures show (a) regional distribution of companies (by continent); (b) companies' activities and (c) index of expectations of sales, by continent. The survey is intended for inclusion in the World Directory of Renewable Energy Suppliers and Services

  12. Renewable energy market overview 2000

    Energy Technology Data Exchange (ETDEWEB)

    Mahoney, Nicholas

    2001-02-01

    The article discusses the findings of a recent survey on the renewable energy market carried out in 164 countries and across a wide range of sectors of industry. The survey found almost unanimous optimism regarding the growth of the renewable energy market over the coming year. Tables show (i) the survey sample (in terms of continents, database population and responses); (ii) subsidiaries and locations of parent companies; (iii) expectations of sales next year (by continent) and (iv) expectations of sales in the coming year by sector. Figures show (a) regional distribution of companies (by continent); (b) companies' activities and (c) index of expectations of sales, by continent. The survey is intended for inclusion in the World Directory of Renewable Energy Suppliers and Services.

  13. On market integration of renewable energies

    Energy Technology Data Exchange (ETDEWEB)

    Schroeer, Sebastian

    2014-12-05

    Since the liberalization of electricity and gas markets in Europe, the energy sector has changed in every respect with one constant: most actors have underestimated renewable energies with regard to their growth, their economies of scale and their impact on existing energy markets. If that trend continues, the urgency for policy measures will increase. Given the security of supply, integration of renewables into energy markets is necessary to replace fossil and nuclear capacities. However, the further development of renewable energies plays a crucial role in the ability to meet the energy and climate policy targets. Thus, it increases the need for regulation to achieve societally desirable outcomes. This thesis has examined the effects of renewable energies on existing energy markets. It has also investigated the various other cost-efficient options that policy makers have in striving to reach energy and climate policy targets. We assumed that cost efficiency is a relevant side condition. In the past, this has not always been the case. Today, cost efficiency is definitely relevant and might also be an essential target in the future (see Bundesregierung 2013, p. 50). We contributed to the analysis of power prices as a result of increasing shares of renewables by showing that shutting down conventional capacities will have a merit order effect. This is necessary if renewable energies are to replace fossil and nuclear capacities. Any discussion of a change of market design should make mention of this effect, since spot market revenues impact a company's behaviour within potential capacity markets. From a consumer perspective, we have shown that there is a substantial need for secured capacity with low marginal costs to keep spot prices stable. This outcome has important implications for policy makers if they are to provide consumers with low-cost renewable market integration. Policy makers have numerous ways to reach policy targets than rapidly expanding

  14. On market integration of renewable energies

    International Nuclear Information System (INIS)

    Schroeer, Sebastian

    2014-01-01

    Since the liberalization of electricity and gas markets in Europe, the energy sector has changed in every respect with one constant: most actors have underestimated renewable energies with regard to their growth, their economies of scale and their impact on existing energy markets. If that trend continues, the urgency for policy measures will increase. Given the security of supply, integration of renewables into energy markets is necessary to replace fossil and nuclear capacities. However, the further development of renewable energies plays a crucial role in the ability to meet the energy and climate policy targets. Thus, it increases the need for regulation to achieve societally desirable outcomes. This thesis has examined the effects of renewable energies on existing energy markets. It has also investigated the various other cost-efficient options that policy makers have in striving to reach energy and climate policy targets. We assumed that cost efficiency is a relevant side condition. In the past, this has not always been the case. Today, cost efficiency is definitely relevant and might also be an essential target in the future (see Bundesregierung 2013, p. 50). We contributed to the analysis of power prices as a result of increasing shares of renewables by showing that shutting down conventional capacities will have a merit order effect. This is necessary if renewable energies are to replace fossil and nuclear capacities. Any discussion of a change of market design should make mention of this effect, since spot market revenues impact a company's behaviour within potential capacity markets. From a consumer perspective, we have shown that there is a substantial need for secured capacity with low marginal costs to keep spot prices stable. This outcome has important implications for policy makers if they are to provide consumers with low-cost renewable market integration. Policy makers have numerous ways to reach policy targets than rapidly expanding

  15. Market chances for innovative natural gas applications. The determination of market potential by means of a phase model

    International Nuclear Information System (INIS)

    Hoelen, Q.E.J.J.M.; Klootwijk, M.

    2000-01-01

    Innovative applications of natural gas can increase the sale of natural gas, support energy companies in the development of commercial activities, and contribute to energy efficiency measures. The Dutch natural gas trading company Gasunie supports those developments by investigating the market potential of innovative gas appliances. Use is made of the so-called Phase Model for Market Introduction, developed by Kea Consult

  16. Financial markets regulation in the energy sector. A few financial aspects of energy transactions

    International Nuclear Information System (INIS)

    Simonetti, S.

    2007-01-01

    In addition to energy legislation, financial markets legislation and regulation (FMR) are becoming increasingly important for the energy sector. Consequently, parties on the energy market not only have to deal with the energy and competition authorities (the Dte and NMa respectively), but may also face supervision by The Netherlands Authority for the Financial Markets (AFM). Energy transactions may trigger certain prohibitions and obligations under financial and securities law, the most relevant of which are discussed in this article. Both the recent changes as a result of the Financial Markets Supervision Act ('Wet op het financieel toezicht', Wft) entering into force as per 1 January 2007 and the anticipated future amendments following the implementation of the Markets in Financial Instruments Directive (MiFID) are examined [nl

  17. Battery energy storage market feasibility study

    International Nuclear Information System (INIS)

    Kraft, S.; Akhil, A.

    1997-07-01

    Under the sponsorship of the Department of Energy's Office of Utility Technologies, the Energy Storage Systems Analysis and Development Department at Sandia National Laboratories (SNL) contracted Frost and Sullivan to conduct a market feasibility study of energy storage systems. The study was designed specifically to quantify the energy storage market for utility applications. This study was based on the SNL Opportunities Analysis performed earlier. Many of the groups surveyed, which included electricity providers, battery energy storage vendors, regulators, consultants, and technology advocates, viewed energy storage as an important enabling technology to enable increased use of renewable energy and as a means to solve power quality and asset utilization issues. There are two versions of the document available, an expanded version (approximately 200 pages, SAND97-1275/2) and a short version (approximately 25 pages, SAND97-1275/1)

  18. Economic Modeling of Compressed Air Energy Storage

    Directory of Open Access Journals (Sweden)

    Rui Bo

    2013-04-01

    Full Text Available Due to the variable nature of wind resources, the increasing penetration level of wind power will have a significant impact on the operation and planning of the electric power system. Energy storage systems are considered an effective way to compensate for the variability of wind generation. This paper presents a detailed production cost simulation model to evaluate the economic value of compressed air energy storage (CAES in systems with large-scale wind power generation. The co-optimization of energy and ancillary services markets is implemented in order to analyze the impacts of CAES, not only on energy supply, but also on system operating reserves. Both hourly and 5-minute simulations are considered to capture the economic performance of CAES in the day-ahead (DA and real-time (RT markets. The generalized network flow formulation is used to model the characteristics of CAES in detail. The proposed model is applied on a modified IEEE 24-bus reliability test system. The numerical example shows that besides the economic benefits gained through energy arbitrage in the DA market, CAES can also generate significant profits by providing reserves, compensating for wind forecast errors and intra-hour fluctuation, and participating in the RT market.

  19. System Dynamics Modeling of the Massachusetts SREC Market

    Directory of Open Access Journals (Sweden)

    Wilson Rickerson

    2010-08-01

    Full Text Available As states across the country struggle to increase local development of renewable energy, policymakers are turning to innovative program designs to meet their renewable electricity targets. Massachusetts recently adopted a unique, auction-based price support mechanism for the solar portion of its renewable portfolio standard. During the program development process, the Massachusetts Department of Energy Resources (DOER used system dynamics to simulate potential solar renewable energy certificate market conditions under the proposed regulations. The modeling exercise resulted in several program design changes that will lead to a more stable certificate market. System dynamics can be a useful tool for developing and improving sustainability programs.

  20. Optimal bidding strategy for microgrids in joint energy and ancillary service markets considering flexible ramping products

    International Nuclear Information System (INIS)

    Wang, Jianxiao; Zhong, Haiwang; Tang, Wenyuan; Rajagopal, Ram; Xia, Qing; Kang, Chongqing; Wang, Yi

    2017-01-01

    Highlights: •Flexible ramping products are modelled in the framework of a microgrid. •Microgrids’ optimal bidding model is proposed in energy and ancillary service markets. •A hybrid stochastic and robust optimization approach is adopted. •The effectiveness of the proposed bidding model is verified based on real-world data. -- Abstract: Due to the volatile nature of wind and photovoltaic power, wind farms and solar stations are generally thought of as the consumers of ramping services. However, a microgrid (MG) is able to strategically integrate various distributed energy resources (DERs) to provide both energy and ancillary services (ASs) for the bulk power system. To evaluate the ramping capabilities of an MG in the joint energy and AS markets, an optimal bidding strategy is developed in this paper considering flexible ramping products (FRPs). By aggregating and coordinating various DERs, including wind turbines (WTs), photovoltaic systems (PVs), micro-turbines (MTs) and energy storage systems (ESSs), the MG is able to optimally allocate the capacities for energy, spinning reserve and ramping. Taking advantage of the synergy among DERs, the MG can maximize its revenues from different markets. Moreover, the flexibility of the MG for the bulk power system can be fully explored. To address the uncertainties introduced by renewable generation and market prices, a hybrid stochastic/robust optimization (RO) approach is adopted. Case studies based on a real-world MG with various DERs demonstrate the market behavior of the MG using the proposed bidding model.

  1. Renewable energy and the need for local energy markets

    DEFF Research Database (Denmark)

    Hvelplund, Frede

    2006-01-01

    green energy policy should be introduced in order to secure both public and political acceptance. Local markets should be established in order to secure the technical integration of a large proportion of wind power and other fluctuating renewable energy sources into the energy system....

  2. Modelling gas markets - a survey

    International Nuclear Information System (INIS)

    1997-01-01

    This report reviews research of relevance to the analysis of present and future developments of the European natural gas market. The research activities considered are confined to (1) numerical models for gas markets, (2) analyses of energy demand, and (3) analyses of behaviour and cost structures in the transmission and distribution sector. Most of the market models are strictly micro economic and assume perfect competition or a game-theoretical equilibrium. They use sophisticated solution concepts, but very simplified specifications of supply and demand functions. Most of the research on demand is econometric analyses. These have more detailed model specification than have the aggregated market models. It is found, however, that the econometric literature based on neo-classical economics has not yielded unambiguous results and the specifications disregard important real world aspects of gas demand. The section on demand concludes that the extent of the gas grid is an important determinant for gas demand, but there has been virtually no research on what determines this variable. Data about transmission and distribution of gas in Europe is scarce and only a few non-econometric and virtually no econometric analyses are available. However, some conclusions can be made from relevant North American literature: (1) there has been significant autonomous technical progress in the transmission industry, (2) distribution costs strongly depend on geographical and other conditions, and (3) ownership, whether private or public, may be important for distribution costs and pricing policies. 56 refs., 3 figs., 1 tab

  3. Modelling gas markets - a survey

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-12-31

    This report reviews research of relevance to the analysis of present and future developments of the European natural gas market. The research activities considered are confined to (1) numerical models for gas markets, (2) analyses of energy demand, and (3) analyses of behaviour and cost structures in the transmission and distribution sector. Most of the market models are strictly micro economic and assume perfect competition or a game-theoretical equilibrium. They use sophisticated solution concepts, but very simplified specifications of supply and demand functions. Most of the research on demand is econometric analyses. These have more detailed model specification than have the aggregated market models. It is found, however, that the econometric literature based on neo-classical economics has not yielded unambiguous results and the specifications disregard important real world aspects of gas demand. The section on demand concludes that the extent of the gas grid is an important determinant for gas demand, but there has been virtually no research on what determines this variable. Data about transmission and distribution of gas in Europe is scarce and only a few non-econometric and virtually no econometric analyses are available. However, some conclusions can be made from relevant North American literature: (1) there has been significant autonomous technical progress in the transmission industry, (2) distribution costs strongly depend on geographical and other conditions, and (3) ownership, whether private or public, may be important for distribution costs and pricing policies. 56 refs., 3 figs., 1 tab.

  4. Benefits for whom? Energy efficiency within the efficient market

    International Nuclear Information System (INIS)

    Chello, Dario

    2015-01-01

    How should the lack of an efficient energy market affect the design of energy efficiency policies and their implementation? What the consequences of an inefficient energy market on end users’ behaviour? This article tries to give an answer to such questions, by considering the decision making of domestic users following a few fundamental concepts of behavioural economics. The mechanism of price formation in the market, with particular reference to the internal energy market in Europe, will be examined and we will show that price remains the inflexible attribute in making an energy choice. Then, some conclusions will be addressed to policy makers on how to overcome the barriers illustrated.

  5. 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.

  6. Electrical energy market management in deregulated power system

    International Nuclear Information System (INIS)

    Abady, A. F.; Niknam, T.

    2003-01-01

    For many decades, vertically integrated electric utilities monopolized the way they control, sell and distribute electricity to customers in their service territories. In this monopoly, each utility managed three main components of the system: generation, transmission and distribution. Analogous to perceived competitions in airline, communication and natural gas industries which demonstrated that vertically integrated monopolies could not provide services as efficiently as competitive firms, the electric power industry plans to improve its efficiency by providing a more reliable energy at least cost to customers. A competition is guaranteed by establishing a restructured environment in which customers could choose to buy from different suppliers and change suppliers as they wish in order to pay market base rates. This paper is dealing with progressive approach of restructuring in power and introduce ISO, its functions and model of electrical energy markets

  7. German energy market 2016; Deutscher Energiemarkt 2016

    Energy Technology Data Exchange (ETDEWEB)

    Schiffer, Hans-Wilhelm [World Energy Council, London (United Kingdom). World Energy Resources; Weltenergierat, Berlin (Germany). Arbeitsgruppe Energie fuer Deutschland

    2017-03-15

    The basic orientation of the German energy supply to the increased use of renewable energies, while increasing energy efficiency, is prediscribed by the German government's energy concept and determines the market development. A current overview of the German energy market is given, which provides also this year a concentrated Compilation of the key data of the energy industry. As in the years before, the article not only summarizes general facts about the energy mix, but also goes into detail on the development of the individual energy sources, petroleum, natural gas, brown coal and hard coal, electricity as well as renewable energies. Furthermore, the price trends of international markets and in the domestic market are explained. A current overview of the development of greenhouse gas emissions concludes the contribution. [German] Die im Energiekonzept der Bundesregierung vorgegebene Grundausrichtung der deutschen Energieversorgung hin zur verstaerkten Nutzung erneuerbarer Energien bei gleichzeitiger Steigerung der Energieeffizienz bestimmt die Marktentwicklung. Vorliegend wird ein aktueller Ueberblick ueber den deutschen Energiemarkt gegeben, der auch in diesem Jahr eine konzentrierte Zusammenstellung der zentralen Eckdaten der Energiewirtschaft leistet. Wie in den Jahren zuvor fasst der Artikel nicht nur allgemeine Fakten zum Energiemix zusammen, sondern geht auch ausfuehrlich auf die Entwicklung der einzelnen Energietraeger Erdoel, Erdgas, Braun- und Steinkohle, Elektrizitaet sowie regenerative Energien ein. Ferner werden die Preistendenzen auf den internationalen Maerkten und im Inland erlaeutert. Eine aktuelle Uebersicht ueber die Entwicklung der Treibhausgas-Emissionen schliesst den Beitrag ab.

  8. Advanced reactors and future energy market needs

    International Nuclear Information System (INIS)

    Paillere, Henri; )

    2017-01-01

    Based on the results of a very well-attended international workshop on 'Advanced Reactor Systems and Future Energy Market Needs' that took place in April 2017, the NEA has embarked on a two-year study with the objective of analysing evolving energy market needs and requirements, as well as examining how well reactor technologies under development today will fit into tomorrow's low-carbon world. The NEA Expert Group on Advanced Reactor Systems and Future Energy Market Needs (ARFEM) held its first meeting on 5-6 July 2017 with experts from Canada, France, Italy, Japan, Korea, Poland, Romania, Russia and the United Kingdom. The outcome of the study will provide much needed insight into how well nuclear can fulfil its role as a key low-carbon technology, and help identify challenges related to new operational, regulatory or market requirements

  9. Stocks and energy shocks : the impact of energy accidents on stock market value

    NARCIS (Netherlands)

    Scholtens, B.; Boersen, A.

    We investigate how financial market participants value energy accidents. We employ an event study to look into the response of stock markets to 209 accidents. These accidents were derived from Sovacool's (2008) database on major energy accidents from 1907 to 2007. It appears that the stock market in

  10. The competitive environment of the North American energy marketing industry

    International Nuclear Information System (INIS)

    Tonkin, S.L.

    1999-01-01

    Various issues regarding U.S. wholesale energy marketing were discussed with particular emphasis on how energy marketing is changing industries in North America. In 1998, the energy industry reported a growth in revenue of 26 per cent despite declining natural gas prices. It was emphasized that several major competitive issues need to be addressed by industry competitors in order to operate in this unpredictable market. These issues include profitability, market volatility and mergers and acquisitions. This paper presented a list of the top 10 North American Energy marketers in 1998. Although the number of marketers in the energy sector continues to grow, it is expected that the numbers will decline significantly within three years. This will be due mostly to the continuation of major mergers and acquisitions. It was concluded that in general, energy marketing may become an even more attractive industry because of increasing operating margins. 5 tabs., 2 figs

  11. Wood energy markets, 2010-2011

    Science.gov (United States)

    Francisco Aguilar; Christopher Gaston; Rens Hartkamp; Warren Mabee; Kenneth Skog

    2011-01-01

    Global wood energy markets continue to grow, driven primarily by demand in the EU and its commitment to meet 20% of energy consumption from renewable sources by 2020. Large investments in industrial pellet-production capacity have been made under expectations of a continuously growing demand, mainly from the EU. Concern about how energy and climate-change policies may...

  12. MARKETING MODELS APPLICATION EXPERIENCE

    Directory of Open Access Journals (Sweden)

    A. Yu. Rymanov

    2011-01-01

    Full Text Available Marketing models are used for the assessment of such marketing elements as sales volume, market share, market attractiveness, advertizing costs, product pushing and selling, profit, profitableness. Classification of buying process decision taking models is presented. SWOT- and GAPbased models are best for selling assessments. Lately, there is a tendency to transfer from the assessment on the ba-sis of financial indices to that on the basis of those non-financial. From the marketing viewpoint, most important are long-term company activities and consumer drawingmodels as well as market attractiveness operative models.

  13. Interaction of Compliance and Voluntary Renewable Energy Markets

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L.; Lokey, E.

    2007-10-01

    In recent years, both compliance and voluntary markets have emerged to help support the development of renewable energy resources. Both of these markets are growing rapidly and today about half of U.S. states have RPS policies in place, with a number of these policies adopted in the last several years. In addition, many states have recently increased the stringency of their RPS policies. This paper examines key market interaction issues between compliance and voluntary renewable energy markets. It provides an overview of both the compliance and voluntary markets, addressing each market's history, purpose, size, scope, and benefits while addressing issues, including double counting.

  14. COMPETITION AND REGULATION IN THE EU ENERGY MARKET

    Directory of Open Access Journals (Sweden)

    Cristina Havriş

    2009-12-01

    Full Text Available When prices are high and public service obligations are not properly fulfilled, consumers wonder if they obtain what they need from the market. In electricity and gas markets of the EU Member States, apart from the persistence of high, non-transparent regulated prices, a number of shortcomings have been identified by the European Commission, such as a less than optimal network use for energy transmission, a lack of coordination and cooperation across borders by transmission system operators and national authorities, and a lack of transparent and simple procedures for dealing with consumers’ complaints. These are the main elements of the infringement proceedings that the European Commission decided to launch on 25 June 2009 against 25 Member States for non–compliance with certain Community provisions in the Second Internal Energy Market Package, which entered into force on 1 July 2007. Quite emblematic is the fact that it occurred the same day as the adoption of the Third Internal Energy Market Package aiming to ensure a proper functioning of the EU energy market. We intend to analyse what has happened in the recent years at the EU level in order to liberalise and remove the significant remaining obstacles to competition in the energy market.

  15. Renewable energy and energy efficiency in liberalized European electricity markets

    International Nuclear Information System (INIS)

    Wohlgemuth, Norbert

    2000-01-01

    Given the projected growth in global energy demand, renewable energy (RE) and energy efficiency (EE) play a crucial role in the attainment of the environmental dimension of sustainable development. Policy mechanisms to promote RE and EE have been justified on the rationale of market failure, which prevents price signals alone from being sufficient to induce consumers to implement the socially optimal level. The paper shows driving forces for increasing competition in the electricity supply industry and discusses the implication of electricity industry liberalisation on RE/EE activities. Policies of the European Commission to promote RE/EE are presented, including a more detailed description of the experience made in the United Kingdom. Conclusions are that the new market structure may be too short sighted to stimulate RE and EE activities and that the design of policies should be compatible with the new market-orientated structure of the electricity industry. If implemented properly, and compatible with the competitive market organisation, electricity supply liberalisation could pave the way for 'sustainable electricity' in the European Union. (Author)

  16. Stimuli, competence and markets. 3. Partial report within the research project 'Renewable energy in the internal energy market'

    International Nuclear Information System (INIS)

    Kjersgaard, A.

    1996-01-01

    The trends behind the developing of wind turbine market are analyzed with regard to the effect of wind energy use regulations. National- specific differences in customer and market habits as well as public and private companies result in different approach to the political and economic marketing factors. (EG)

  17. Contractor/supplier of energy services. Liberalization of the energy market and the need for energy services

    International Nuclear Information System (INIS)

    Maas, J.F.M.

    2002-01-01

    A market for energy services is emerging. Energy suppliers and building services contractors have the same customers but have traditionally operated in different markets. The boundary between the energy and building services markets is blurred. Substantial degrees of freedom are being created for the customer in a free market. After the initial euphoria about this, there will be a realization that there are also risks, for example as a result of price fluctuations, uncertainty about supplier reliability, the effects of the rates system, complex regulation and political decision making. If people want to reduce these risks and through this make costs controllable, attention must be paid to the interdependence between aspects on the supply side, in the energy supply system and on the demand side [nl

  18. Proceedings of the 12. forum: Croatian Energy Day: Energy consumers in open market conditions

    International Nuclear Information System (INIS)

    Granic, G.; Jelavic, B.

    2003-01-01

    The theme of the 12. Forum: Energy Day in Croatia is energy sector liberalisation and the new position of the consumers, changing rapidly and acquiring a completely new perspective. By means of market opening of various energy forms the consumer gains right to choose the energy supplier, quite a radical change in relation to the former, monopolistic relationship. This means that the consumer becomes the centre of attention, as has already been achieved at the mobile phone market. Within new market environment, the consumer becomes product buyer, buyer of the product in principle bearing market characteristics as any other product. However, energy markets reveal numerous peculiarities, distinguishing them from the markets of goods and services, as we have known them for centuries, which function according to well-known market conditions. While part of the energy sector will permanently remain a natural monopoly (transmission / transportation and distribution networks), the opening of the considered market requires information science development, which means it is necessary to apply advanced technology for e.g. measuring devices, etc. In view of such market circumstances it is essential to define the quality of the product including supply stability, voltage quality or agility in responding to customer complaints. On the other hand, these factors cannot be adjusted to each individual consumer-buyer at the moment or at least not ones. The position of the customers-buyers has been solved differently in various countries. The aim of this Forum is to put forward and explain experience and solutions connected to the new customer-buyer role in market circumstances. It is our wish that the participants discuss problems connected to the consumer-buyer position under the following aspects: Present status of market opening for various energy forms in the countries of the EU and in the transition countries; technical preconditions for energy market opening such as information

  19. Fair Division of Costs in Green Energy Markets

    DEFF Research Database (Denmark)

    Hougaard, Jens Leth; Kronborg, Dorte; Smilgins, Aleksandrs

    2017-01-01

    This paper considers cost allocation in networks where agents are characterized by stochastic demand and supply of a non-storable good, e.g. green energy. The grid itself creates possibilities of exchanging energy between agents and we propose to allocate common costs in proportion to the economi...... gain of being part of the grid. Our model includes a set of fundamental requirements for the associated trading platform. In particular, it is argued that a suitable mechanism deviates from a traditional market. The approach is illustrated by simulations....

  20. 77 FR 30274 - Inupiat Energy Marketing, LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes...

    Science.gov (United States)

    2012-05-22

    ... Energy Marketing, LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes Request for... Inupiat Energy Marketing, LLC's application for market-based rate authority, with an accompanying rate... protests and interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov . To...

  1. Energy market integration and regional institutions in east Asia

    International Nuclear Information System (INIS)

    Aalto, Pami

    2014-01-01

    This article assesses the case made for energy market integration in East Asia by comparing the role of institutions in South East Asia and North East Asia. The types and functions of institutions and their overall structure are examined in light of global energy market trends. In South East Asia, the shift attempted by ASEAN towards more competitive markets is hampered by the remaining statist variants of the trade institution and bilateral energy diplomacy, which, as regards transaction cost functions, are sub-optimal. As for institutions with order-creating functions, the unresolved status of sovereignty within ASEAN hampers regulatory harmonisation; the great power management institution has since ASEAN's establishment reduced conflicts without providing decisive leadership conducive to integration. North East Asia's dependence on global energy markets overshadows the regional integration potential of the diverse liberalisation efforts and interconnection projects. Bilateral energy diplomacies, new trilateral institutions combined with ‘Track Two’ institutions and remaining great power competition co-exist. In both regions the institutional structure allows for step-wise, technical infrastructure integration. The environmental stewardship institution co-exists with statist energy security and development objectives while it supports cooperation on green energy. The overall structure of informal institutions constrains deeper energy market integration in several ways. - Highlights: • The structures of institutions explain East Asian energy market integration. • Transaction costs are increased by statist trade institutions and bilateralism. • Order-creating institutions are sub-optimal for energy market integration. • Multi-level great power management offers limited leadership for integration. • The environmental stewardship institution supports cooperation on green energy

  2. Analysis on one type of swing option in the energy market

    International Nuclear Information System (INIS)

    Mistry, Hetal A.

    2005-01-01

    In the Nordic electricity market most of the trading takes place in derivates and options. To describe these products theoretically one needs to have knowledge from stochastic analysis. This thesis will derive a price model for one type of swing option in energy market. The main aim of writing this thesis is to introduce coal power plant and how to approach the problem if such power plant is built in Norway. This thesis uses the approach where I start out with a model for the spot price of electricity and coal, and then derive theoretical option prices. I use a Schwartz process for model and Ornstein Uhlenbeck processes to model the spot prices for electricity and coal. This model also incorporates mean-reversion, which is an important aspect of energy prices. Historical data for the spot prices is used to estimate my variables in the Schwartz model. The main objectives of this thesis were to find the price for a tolling contract in energy market and production volume that is producers control function. The first chapters gives an over view about the agreement and the formula used to derive the price. The second chapter provided me with the material I needed to derive these price and production volume such as dynamics for the spot prices for electricity and coal and their solution. Third chapter gives a statistical look on these stochastic processes. In the last chapter I tested the price model for stochastic control problem and found that the swing option can be bound in two ways: 1. Swing option limited as Margrabes solution. 2. Swing option limited as spread option. The use of the model is discussed. (Author)

  3. Energy in transition. Between regulation and market; Energiewirtschaft im Wandel. Zwischen Regulierung und Markt

    Energy Technology Data Exchange (ETDEWEB)

    Horzetzky, Guenther [Ministerium fuer Wirtschaft, Energie, Industrie, Mittelstand und Handwerk des Landes Nordrhein-Westfalen, Duesseldorf (Germany)

    2016-07-01

    Actually, the energy industry is affected in a changing market environment. The expansion of the renewables led to a share of about 30 % of the German electricity production and is always rising. The renewables energy levy has reached a level of 6.35 Euro Cents per kWh, which is actually a high level. Investments in new power plants are stopped due to low market electricity prices. The market pressure on the utilities is high and their business models have to be scrutinised. The NRW state government supports the magic political triangle of a secure, affordable and environmentally friendly energy supply. Instead of further interventions we have to develop our existing energy system cautiously. Anything else would not meet the requirements for invests in the energy supply and the magic triangle of energy politics.

  4. Determining energy and climate market policy using multiobjective programs with equilibrium constraints

    International Nuclear Information System (INIS)

    Siddiqui, Sauleh; Christensen, Adam

    2016-01-01

    Energy and climate market policy is inherently multiobjective and multilevel, in that desired choices often conflict and are made at a higher level than influenced actors. Analyzing tradeoff between reducing emissions and keeping fuel prices low, while seeking compromise among producers, traders, and consumers is the crux of the policy problem. This paper aims to address this issue by combining multiobjective optimization problems, which allow the study of tradeoff between choices, with equilibrium problems that model the networks and players over which these policies are chosen, to produce a formulation called a Multiobjective Program with Equilibrium Constraints. We apply this formulation to the United States renewable fuel market to help understand why it has been so difficult in releasing the 2014 mandate for the RFS (Renewable Fuel Standard). The RFS ensures that a minimum volume of renewable fuel is included in transportation fuel sold in the United States. Determining the RFS volume requirements involves anticipating market reaction as well as balancing policy objectives. We provide policy alternatives to aid in setting these volume obligations that are applicable to a wide variety of climate and energy market settings and explain why the RFS is not an optimal policy for reducing emissions. - Highlights: • First time a MOPEC has been used to model energy markets and climate policy. • Method to endogenously determine energy policy along with associated tradeoff. • Computationally efficient algorithm for MOPECs and compare to methods. • Explain why the RFS is not an optimal policy for emission reduction.

  5. Energy-only and capacity markets and the economics of the power sector in a simulation of the Northwest European power market

    International Nuclear Information System (INIS)

    Hers, Sebastiaan; Redl, Christian; Wijk, Pieter van der; Slot, Thijs

    2013-01-01

    Rising concern with regard to generation adequacy and the ability of energy-only electricity markets to deliver required investments induced debates, regulatory interventions, and consideration of new market mechanisms in several EU member states. Results based on model simulations concerning guaranteed supply safety are presented. (orig.)

  6. Energy-only and capacity markets and the economics of the power sector in a simulation of the Northwest European power market

    Energy Technology Data Exchange (ETDEWEB)

    Hers, Sebastiaan; Redl, Christian; Wijk, Pieter van der; Slot, Thijs [DNV KEMA Energy and Sustainability, Arnhem (Netherlands)

    2013-11-01

    Rising concern with regard to generation adequacy and the ability of energy-only electricity markets to deliver required investments induced debates, regulatory interventions, and consideration of new market mechanisms in several EU member states. Results based on model simulations concerning guaranteed supply safety are presented. (orig.)

  7. Energy market opportunities post-Maui

    International Nuclear Information System (INIS)

    Saha, G.

    1995-01-01

    As supply from the Maui and other existing producing fields decline, petroleum explorers and developers need to address the question who will be the indigenous oil and gas customers post Maui? This paper discusses major macro- and micro-environmental trends which will influence likely market opportunities. Two sub-markets are examined. First, what trends impact on current oil and gas customers. Second, what other new customers might arise. The macro-environment trends cover important economic, political, legislation, socio-economic and technical parameters. The micro-environment trends cover energy market structures and pricing parameters. (Author)

  8. Renewable Energy: Markets and Prospects by Technology

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    This information paper accompanies the IEA publication Deploying Renewables 2011: Best and Future Policy Practice (IEA, 2011a). It provides more detailed data and analysis, and explores the markets, policies and prospects for a number of renewable energy technologies. This paper provides a discussion of ten technology areas: bioenergy for electricity and heat, biofuels, geothermal energy, hydro energy, ocean energy, solar energy (solar photovoltaics, concentrating solar power, and solar heating), and wind energy (onshore and offshore). Each technology discussion includes: the current technical and market status; the current costs of energy production and cost trends; the policy environment; the potential and projections for the future; and an analysis of the prospects and key hurdles to future expansion.

  9. How does market power affect the impact of large scale wind investment in 'energy only' wholesale electricity markets?

    International Nuclear Information System (INIS)

    Browne, Oliver; Poletti, Stephen; Young, David

    2015-01-01

    In the short run, it is well known that increasing wind penetration is likely to reduce spot market electricity prices due to the merit order effect. The long run effect is less clear because there will be a change in new capacity investment in response to the wind penetration. In this paper we examine the interaction between capacity investment, wind penetration and market power by first using a least-cost generation expansion model to simulate capacity investment with increasing amounts of wind generation, and then using a computer agent-based model to predict electricity prices in the presence of market power. We find the degree to which firms are able to exercise market power depends critically on the ratio of capacity to peak demand. For our preferred long run generation scenario we show market power increases for some periods as wind penetration increases however the merit order counteracts this with the results that prices overall remain flat. Returns to peakers increase significantly as wind penetration increases. The market power in turn leads to inefficient dispatch which is exacerbated with large amounts of wind generation. - Highlights: • Increasing investment in wind generation is analyzed using an agent based model. • In an energy only market, increased total capacity reduces market power. • Increasing wind penetration results in more market power in some periods. • Market power causes dispatch inefficiencies, which grow as wind capacity increases.

  10. Collaborative market approaches to stimulate sustained renewable energy deployment

    International Nuclear Information System (INIS)

    Weissman, J.M.

    1996-01-01

    New market opportunities for renewable energy technologies are emerging in response to lower costs, greater possibilities for distributed products and services, strong customer preference for cleaner electricity, and the anticipation of deregulation of the electric power industry. In response, a series of innovative programs and market-based mechanisms are supporting accelerated, commercialization efforts. This paper reviews two different but complementary national collaborative initiatives. The PV-COMPACT, through its major program components, focuses on a number of market mechanisms and policy tools that support sustainable deployment of photovoltaic (PV) systems for utility markets. The Workshop In A Box Program, a collaborative effort managed by the Interstate Renewable Energy Council, supplies the right information to key state government agencies to assist them in evaluating decisions to purchase renewable energy products. This paper also addresses how distributed applications can open new markets for renewable energy systems including the evolution of customer choice programs like green pricing. The programs discussed in this paper demonstrate that no singular mechanism drives new and sustainable markets: it is the symbiotic relationship among many innovative and enterprising efforts and investments that leads to emerging renewable energy markets

  11. Renewable energy markets in developing countries

    DEFF Research Database (Denmark)

    Martinot, E.; Chaurey, A.; Lew, D.

    2002-01-01

    Renewable energy is shifting from the fringe to the mainstream of sustainable development. Past donor efforts achieved modest results but often were not sustained or replicated, which leads now to greater market orientation. Markets for rural household lighting with solar home systems, biogas...

  12. An Agent-based Application to Enable Deregulated Energy Markets

    NARCIS (Netherlands)

    Capodieci, Nicola; Cabri, Giacomo; Pagani, Giuliano Andrea; Aiello, Marco

    2012-01-01

    Private houses are more and more enabled with devices that can produce renewable energy, and the not so remote chance of selling the surplus energy makes them new players in the energy market. This market is likely to become deregulated since each energy home-producer can negotiate the energy price

  13. German energy market in 2015; Deutscher Energiemarkt 2015

    Energy Technology Data Exchange (ETDEWEB)

    Schiffer, Hans-Wilhelm [World Energy Council, London (United Kingdom). World Energy Resources; Weltenergierat - Deutschland, Berlin (Germany). Arbeitsgruppe ' ' Energie fuer Deutschland' '

    2016-03-15

    The given basic orientation of the energy concept of the federal government for the German energy supply increased towards renewable energy while increasing energy efficiency determines the market trend. In the present case, a current overview of the German energy market will be given of this year providing a concentrated compilation of the central main features of the energy industry. As in previous years, the article summarizes not only general facts about the energy, but also goes in detail on the development of the individual fuels such as oil, natural gas, lignite and hard coal, nuclear energy and renewable energies. Furthermore, the price trends are described in the international markets and in the domestic market. [German] Die im Energiekonzept der Bundesregierung vorgegebene Grundausrichtung der deutschen Energieversorgung hin zur verstaerkten Nutzung erneuerbarer Energien bei gleichzeitiger Steigerung der Energieeffizienz bestimmt die Marktentwicklung. Vorliegend wird ein aktueller Ueberblick ueber den deutschen Energiemarkt gegeben, der auch in diesem Jahr eine konzentrierte Zusammenstellung der zentralen Eckdaten der Energiewirtschaft leistet. Wie in den Jahren zuvor fasst der Artikel nicht nur allgemeine Fakten zum Energiemix zusammen, sondern geht auch ausfuehrlich auf die Entwicklung der einzelnen Energietraeger Erdoel, Erdgas, Braun- und Steinkohle, Kernenergie sowie regenerative Energien ein. Ferner werden die Preistendenzen auf den internationalen Maerkten und im Inland erlaeutert.

  14. Using energy storage for strategic advantage in competitive electricity markets

    International Nuclear Information System (INIS)

    Hurwitch, J.W.; Symons, P.

    1998-01-01

    Energy storage products are emerging for use in power quality, electric transmission and distribution, and renewable energy applications. Despite this emergence into high-value markets, widespread market penetration will only occur when the value of the services that energy storage products can deliver are clearly delineated. The emergence of competitive electricity markets will more clearly define the flexible benefits of energy storage devices. This paper presents a summary of the ESA's position of the status of energy storage technologies, the market barriers, and steps the ESA is undertaking to reduce these barriers. (author)

  15. Electricity market in Croatia according to the new energy laws

    International Nuclear Information System (INIS)

    Prelec, L.; Tomasic-Skevin, S.; Blagajac, S.; Dokmanovic, B.

    2005-01-01

    This paper presents laws and regulations related to the electricity market, with emphasis on changes introduced after the package of energy laws had been adopted in 2001. The paper gives an overview of by-laws, which are about to enter into force or are in final preparation stage, creating conditions for eligible customers to change supplier and freely negotiate electricity price. The paper also presents electricity market model in Croatia as well as procedure of supplier change. (author)

  16. Measuring market performance in restructured electricity markets: An empirical analysis of the PJM energy market

    Science.gov (United States)

    Tucker, Russell Jay

    2002-09-01

    Today the electric industry in the U.S. is transitioning to competitive markets for wholesale electricity. Independent system operators (ISOs) now manage broad regional markets for electrical energy in several areas of the U.S. A recent rulemaking by the Federal Energy Regulatory Commission (FERC) encourages the development of regional transmission organizations (RTOs) and restructured competitive wholesale electricity markets nationwide. To date, the transition to competitive wholesale markets has not been easy. The increased reliance on market forces coupled with unusually high electricity demand for some periods have created conditions amenable to market power abuse in many regions throughout the U.S. In the summer of 1999, hot and humid summer conditions in Pennsylvania, New Jersey, Maryland, Delaware, and the District of Columbia pushed peak demand in the PJM Interconnection to record levels. These demand conditions coincided with the introduction of market-based pricing in the wholesale electricity market. Prices for electricity increased on average by 55 percent, and reached the $1,000/MWh range. This study examines the extent to which generator market power raised prices above competitive levels in the PJM Interconnection during the summer of 1999. It simulates hourly market-clearing prices assuming competitive market behavior and compares these prices with observed market prices in computing price markups over the April 1-August 31, 1999 period. The results of the simulation analysis are supported with an examination of actual generator bid data of incumbent generators. Price markups averaged 14.7 percent above expected marginal cost over the 5-month period for all non-transmission-constrained hours. The evidence presented suggests that the June and July monthly markups were strongly influenced by generator market power as price inelastic peak demand approached the electricity generation capacity constraint of the market. While this analysis of the

  17. 76 FR 3881 - Application To Export Electric Energy; TransAlta Energy Marketing (U.S.) Inc.

    Science.gov (United States)

    2011-01-21

    ... Energy Marketing (U.S.) Inc. AGENCY: Office of Electricity Delivery and Energy Reliability, DOE. ACTION: Notice of application. SUMMARY: TransAlta Energy Marketing (U.S.) Inc. (TEMUS) has applied to renew its..., Federal power marketing agencies, and other entities within the United States. The existing international...

  18. 75 FR 45111 - Electric Quarterly Reports; Strategic Energy Management Corp.; Solaro Energy Marketing...

    Science.gov (United States)

    2010-08-02

    .... ER00-167-000; Docket No. ER03- 752-000] Electric Quarterly Reports; Strategic Energy Management Corp.; Solaro Energy Marketing Corporation; Notice of Revocation of Market- Based Rate Tariff July 23, 2010. On... FERC ] 61,334 (2003). In the June 25 Order, the Commission directed Strategic Energy Management Corp...

  19. Generic Virtual Power Plants: Management of Distributed Energy Resources under Liberalized Electricity Market

    DEFF Research Database (Denmark)

    You, Shi; Træholt, Chresten; Poulsen, Bjarne

    2009-01-01

    The emergence of Virtual Power Plant (VPP) can be attributed to the major boost of distributed energy resources (DER), which satisfies the changing needs of modern society on energy industry. Based on this concept, DER units disregarding the differences in each individualtechnology are loosely...... aggregated with a unique interface to the external grid and energy market. This paper gives a broad overview of state-of-the-art VPP concepts and proposes a detailed generic VPP (GVPP) model running in liberalized electricity market environment. An attempt is made to provide an outline of the main functions...

  20. Active Market Share: measuring competitiveness in retail energy markets

    International Nuclear Information System (INIS)

    Loomis, D.; Malm, E.

    1999-01-01

    As retail electric and gas markets deregulate, market share measurement becomes critical for marketers, regulators, and incumbent utilities. Yet traditional market share measures miss important features of these network industries. In this paper we model provider choice in network industries and develop two alternate market share measures - The Active Market Share (AMS) and the New Mover Market Share (NMMS), that are based on 'active demand'. These measures are shown to provide more accurate real-time measures of market activity. The NMMS is a special case of the AMS which is easy to measure empirically. Numerical simulations are used to provide comparisons between each measure over time. Both the AMS and NMMS will be important tools for anyone interested in measuring the competitiveness of deregulating markets. (author)

  1. Proceedings of the 10. international conference on energy - the new energy infrastructures market

    International Nuclear Information System (INIS)

    1998-01-01

    The main focus of this international conference was on reform and deregulation of the electrical industry and how these will impact on energy markets around the world. Energy source development, power project financing in developing countries, integration of energy market and partnering in the energy projects development in a global context, were some of the individual topics that received considerable attention. tabs., figs

  2. On the economic analysis of problems in energy efficiency: Market barriers, market failures, and policy implications

    International Nuclear Information System (INIS)

    Sanstad, A.H.; Koomey, J.G.; Levine, M.D.

    1993-01-01

    In his recent paper in The Energy Journal, Ronald Sutherland argues that several so-called ''market barriers'' to energy efficiency frequently cited in the literature are not market failures in the conventional sense and are thus irrelevant for energy policy. We argue that Sutherland has inadequately analyzed the idea of market barrier and misrepresented the policy implications of microeconomics. We find that economic theory, correctly interpreted, does not provide for the categorical dismissal of market barriers. We explore important methodological issues underlying the debate over market barriers, and discuss the importance of reconciling the findings of non-economic social sciences with the economic analysis of energy demand and consumer decision-making. We also scrutinize Sutherland's attempt to apply finance theory to rationalize high implicit discount rates observed in energy-related choices, and find this use of finance theory to be inappropriate

  3. On the economic analysis of problems in energy efficiency: Market barriers, market failures, and policy implications

    Energy Technology Data Exchange (ETDEWEB)

    Sanstad, A.H.; Koomey, J.G.; Levine, M.D.

    1993-01-01

    In his recent paper in The Energy Journal, Ronald Sutherland argues that several so-called ``market barriers`` to energy efficiency frequently cited in the literature are not market failures in the conventional sense and are thus irrelevant for energy policy. We argue that Sutherland has inadequately analyzed the idea of market barrier and misrepresented the policy implications of microeconomics. We find that economic theory, correctly interpreted, does not provide for the categorical dismissal of market barriers. We explore important methodological issues underlying the debate over market barriers, and discuss the importance of reconciling the findings of non-economic social sciences with the economic analysis of energy demand and consumer decision-making. We also scrutinize Sutherland`s attempt to apply finance theory to rationalize high implicit discount rates observed in energy-related choices, and find this use of finance theory to be inappropriate.

  4. Introduction : Energy economics and financial markets

    NARCIS (Netherlands)

    Simpson, John L.; Westerman, Wim; Dorsman, André

    2015-01-01

    Energy issues feature frequently in the economic and financial press. It is argued that the importance of energy production, consumption and trade and raises fundamental economic issues that impact the global economy and financial markets. Specific examples of daily energy issues stem from various

  5. Energy and commodities market; Energie- und Rohstoffmaerkte

    Energy Technology Data Exchange (ETDEWEB)

    Bokermann, Marcus; Prass, Markus [Vattenfall Markets, Berlin (Germany)

    2015-07-01

    The electricity markets in Central and Western Europe and in the nordic countries have further shown weak in 2014 with falling prices. The key factors were the declining quotations for coal and natural gas and the warm weather. Another driver was the growth of renewable energy. In the power markets conditions remained mostly an oversupply. The upward trending prices on the CO{sub 2} emissions market were not formative enough to turn the market sentiment. They only caused for volatility during the year. [German] Die Strommaerkte in Mittel- und Westeuropa sowie in den nordischen Laendern haben sich auch im Jahr 2014 weiterhin schwach bei fallenden Preisen gezeigt. Die wesentlichen Einflussfaktoren waren die sinkenden Notierungen fuer Steinkohle und Erdgas sowie das warme Wetter. Ein weiterer Treiber war das Wachstum der erneuerbaren Energien. Auf den Strommaerkten herrschte weiterhin ueberwiegend ein Ueberangebot. Die aufwaerts tendierenden Preise auf dem CO{sub 2}-Emissionsmarkt waren nicht praegend genug, um die Marktstimmung zu drehen. Sie sorgten lediglich fuer Volatilitaet im Jahresverlauf.

  6. The European market of renewable energies; Le marche europeen des energies renouvelables

    Energy Technology Data Exchange (ETDEWEB)

    Anon.

    2011-09-15

    This market study on renewable energies presents: 1 - the different renewable energy industries for power generation: the field of renewable energies (hydropower, wind power, solar energy, geothermal energy and biomass power plants) and their common points, their characteristics, advantages and constraints; 2 - the political and regulatory context with its ambitious goals: main steps of worldwide negotiations, Europe and the management of CO{sub 2} emissions, stiffening of the environmental regulation, the energy/climate package and the efforts to be borne by the different member states; 3 - Economy of the sector and the necessary public support: investment and production costs by industry, wholesale prices and competitiveness of the different power generation means, government's incentives for projects profitability; 4 - dynamics of the European market of renewable energies: energy-mix and evolution of the renewable energies contribution in the world and in the European Union, key-figures by country and by industry (installed capacity, production, turnover, employment); 5 - medium-term development perspectives: 2020 prospect scenarios, evolution of the energy mix, perspectives of development for each industry; 6 - the strengths in presence in the domain of facilities: main manufacturers, market shares, innovations, vertical integration, external growth; 7 - the strengths in presence in the domain of power facilities operation: main European operators, position and ranking, installed capacities, projects portfolio; 8 - medium-term perspectives of reconfiguration: best-positioned operators in a developing market, future of European manufacturers with respect to Asian ones, inevitable concentration in the operation sector. (J.S.)

  7. Photovoltaic subsystem marketing and distribution model: programming manual. Final report

    Energy Technology Data Exchange (ETDEWEB)

    1982-07-01

    Complete documentation of the marketing and distribution (M and D) computer model is provided. The purpose is to estimate the costs of selling and transporting photovoltaic solar energy products from the manufacturer to the final customer. The model adjusts for the inflation and regional differences in marketing and distribution costs. The model consists of three major components: the marketing submodel, the distribution submodel, and the financial submodel. The computer program is explained including the input requirements, output reports, subprograms and operating environment. The program specifications discuss maintaining the validity of the data and potential improvements. An example for a photovoltaic concentrator collector demonstrates the application of the model.

  8. Political and economic heritage of postcommunist Europe and energy market

    International Nuclear Information System (INIS)

    Sander, M.

    1999-01-01

    Transition countries include a group of countries with similar political, economic and social problems that signify the period after the end of the cold war and the fall of Communism. The paper presents the characteristics of the European Communist countries before and after the fall of the iron curtain, which influenced the transition process toward market economy. The centralist (Russian) economy model had enormous advantages at the beginning, particularly in the energy sector, owing to unlimited consumption of blood, sweat and tears during the construction of major power plants. The bureaucratic system executed ruthless expropriation of land and the existing power system, neglecting the environment and human health and even disregarding the feasibility of new power plants. The market creation and particularly the creation of an energy market, under which we understand selling and buying of all forms of energy, fuels, power plants' equipment and capital for energy sector, asks for a series of tasks from the Eastern European countries. They must accept market rules, standards of highly industrialised western countries and achievements in parliamentary democracy as the canon of behaviour in democracy. Setting up a legal infrastructure for the private sector, devising a taxation system, determining ownership rights, stabilising the macro economy in the sense of managing the government budget so as to avoid an excessive fiscal deficit, and stabilising monetary policy are primary tasks of the transition countries. The paper particularly reviews the tasks specifically related to the energy sector and analyses the problems taking into account national strategic interests. (author)

  9. Energy market barometer report 1 - Fall 2013

    International Nuclear Information System (INIS)

    Schleich, Joachim; Cateura, Olivier; Faure, Corinne; Molecke, Greg; Olsthoorn, Mark; Pinkse, Jonatan; Vernay, Anne-Lorene

    2014-01-01

    The Grenoble Ecole de Management (GEM) Energy Market Barometer Report aims to track the key trends and challenges of the energy market, on a regular basis, in collaboration with the 'ZEW', the Center for European Economic Research. This edition analyses the expectations of the energy market experts on the role of shale gas, the future electricity mix in France, and the development of energy prices. Key findings: - Two out of three experts believe that exploring shale gas will be authorized in France in the future; - It will take France approximately 30 years to meet the government's goal of reducing the share of nuclear power in the electricity mix from 76% (current) to 50%; - Most experts believe the prices for electricity, gas, oil, coal and CO_2 certificates will remain relatively stable over the next 6 months, but they will increase over the next 5 years

  10. Canadian wind energy technical and market potential

    International Nuclear Information System (INIS)

    Templin, R.J.; Rangli, R.S.

    1992-01-01

    The current status of wind energy technology in Canada is reviewed, the technical potential of wind energy in Canada is estimated, and the economic market potential is assessed under several scenarios over about the next 25 years. The technical potential is seen to be large, with applications to water pumping on farms, the coupling of wind turbines to diesel-electric systems in remote communities where fuel costs are high, and the supply of electricity to main power grids. The main-grid application has greatest technical potential, but it cannot be economically exploited under the present utility buyback rate structure for intermittent power sources. A change in government policy toward market development of renewable energy sources, such as is already taking place in several European countries, would greatly increase market potential, decrease emissions of CO 2 and SO 2 , and benefit the Canadian wind energy industry. 2 figs., 1 tab

  11. Electricity market pricing, risk hedging and modeling

    Science.gov (United States)

    Cheng, Xu

    In this dissertation, we investigate the pricing, price risk hedging/arbitrage, and simplified system modeling for a centralized LMP-based electricity market. In an LMP-based market model, the full AC power flow model and the DC power flow model are most widely used to represent the transmission system. We investigate the differences of dispatching results, congestion pattern, and LMPs for the two power flow models. An appropriate LMP decomposition scheme to quantify the marginal costs of the congestion and real power losses is critical for the implementation of financial risk hedging markets. However, the traditional LMP decomposition heavily depends on the slack bus selection. In this dissertation we propose a slack-independent scheme to break LMP down into energy, congestion, and marginal loss components by analyzing the actual marginal cost of each bus at the optimal solution point. The physical and economic meanings of the marginal effect at each bus provide accurate price information for both congestion and losses, and thus the slack-dependency of the traditional scheme is eliminated. With electricity priced at the margin instead of the average value, the market operator typically collects more revenue from power sellers than that paid to power buyers. According to the LMP decomposition results, the revenue surplus is then divided into two parts: congestion charge surplus and marginal loss revenue surplus. We apply the LMP decomposition results to the financial tools, such as financial transmission right (FTR) and loss hedging right (LHR), which have been introduced to hedge against price risks associated to congestion and losses, to construct a full price risk hedging portfolio. The two-settlement market structure and the introduction of financial tools inevitably create market manipulation opportunities. We investigate several possible market manipulation behaviors by virtual bidding and propose a market monitor approach to identify and quantify such

  12. Local and regional energy companies offering energy services: Key activities and implications for the business model

    International Nuclear Information System (INIS)

    Kindström, Daniel; Ottosson, Mikael

    2016-01-01

    Highlights: • Many companies providing energy services are experiencing difficulties. • This research identifies key activities for the provision of energy services. • Findings are aggregated to the business-model level providing managerial insights. • This research identifies two different business model innovation paths. • Energy companies may need to renew parts of, or the entire, business model. - Abstract: Energy services play a key role in increasing energy efficiency in the industry. The key actors in these services are the local and regional energy companies that are increasingly implementing energy services as part of their market offering and developing service portfolios. Although expectations for energy services have been high, progress has so far been limited, and many companies offering energy services, including energy companies, are experiencing difficulties in implementing energy services and providing them to the market. Overall, this research examines what is needed for local and regional energy companies to successfully implement energy services (and consequently provide them to the market). In doing this, a two-stage process is used: first, we identify key activities for the successful implementation of energy services, and second, we aggregate the findings to the business model level. This research demonstrates that to succeed in implementing energy services, an energy company may need to renew parts or all of its existing product-based business model, formulate a new business model, or develop coexisting multiple business models. By discussing two distinct business model innovation processes, this research demonstrates that there can be different paths to success.

  13. Market design and supply security in imperfect power markets

    International Nuclear Information System (INIS)

    Schwenen, Sebastian

    2014-01-01

    Supply security in imperfect power markets is modelled under different market designs. In a uniform price auction for electricity with two firms, strategic behaviour may leave firms offering too few capacities and unable to supply all realized demand. Market design that relies on capacity markets increases available generation capacities for sufficiently high capacity prices and consequently decreases energy prices. However, equilibrium capacity prices are non-competitive. Capacity markets can increase security of supply, but cannot mitigate market power, which is exercised in the capacity market instead of the energy market. - Highlights: • I model two power generating firms who compete to serve stochastic demand in a multiunit uniform price auction. • In equilibrium, blackout probabilities can arise through capacity withholding. • Capacity mechanisms decrease capacity withholding and the expected energy price. • With dominant firms, capacity mechanisms are only effective if capacity prices are non-competitive and include a mark-up for leaving the energy-only market optimum

  14. A Dynamic Model of the Combined Electricity and Natural Gas Markets

    DEFF Research Database (Denmark)

    Jenkins, Sandra; Annaswamy, Anuradha M.; Hansen, Jacob

    2015-01-01

    With the shale gas revolution, coal retirements, environmental regulations, and increasing renewable energy resources, the interdependency of natural gas and electricity has grown significantly. Interdependency challenges, such as mismatched market schedules and disparate market operations, require...... quantitative modeling in order to garner insights into the effectiveness of various solutions. In this paper, a quantitative model with a dynamic market mechanism is proposed to evaluate the effects of the fuel uncertainty of natural gas-fired power plants on Social Welfare. The results of the model show...

  15. European energy markets deregulation observatory. Winter 2002/2003 period

    International Nuclear Information System (INIS)

    Anon.

    2004-01-01

    Launched in 2002, the European energy markets deregulation observatory (EEMDO/OELME) aims at actualizing the main energy market indicators and at observing the advance of deregulation within the European countries. While for most of these markets, the deregulation of electricity has preceded the deregulation of gas, the natural gas market is at the evidence a key-market in Europe. For this reason, the 4. edition of the observatory (October 2003) takes into consideration for the first time the specific elements of gas markets, in addition to those of electricity markets. This article presents some excerpts of this last edition, published by Cap Gemini Ernst and Young, and synthesizes the present day situation of gas supplies and the conditions of network access by third parties. The informations reported in the EEMDO come from organizations like UCTE, Nordel, Eurelectric or from energy stock exchanges. (J.S.)

  16. Essays on the economics of energy markets. Security of supply and greenhouse gas abatement

    International Nuclear Information System (INIS)

    Dieckhoener, Caroline

    2013-01-01

    In summary, the presented thesis analyzes two distinct economic subjects: security of supply in natural gas markets and greenhouse gas abatement potentials in the residential heating market. These subjects considered both reflect key points in the triangle of energy policy and are both associated with transnational market failures within energy markets. The security of supply analyses in an intermeshed network are approached from a rather normative, top-down perspective of a social planner. On the contrary, the analyses of greenhouse gases emitted by households are positive analyses of consumer choices. The normative analyses of security of supply in natural gas markets and the positive analyses on greenhouse gas abatement in the residential heating market are organized in two parts of the thesis. 1. Normative analyses - Security of supply in natural gas markets: The two papers of the first part of the dissertation thesis are based on a normative approach with the European natural gas market and infrastructure model TIGER that allows for security of supply analyses. The general idea behind the modeling approach is based on the assumption of a social planner and finds an efficient utilization of the natural gas infrastructure. More precisely, the security of supply analyses conducted in the first part of the thesis refer to scenario simulations of disrupted supply routes in the European natural gas network. The effects of these security of supply scenarios on the usage of other infrastructure components, on marginal supply costs and disruptions to consumers are investigated. 2. Positive analyses of greenhouse gas abatement potentials - Econometric modeling of consumer choices and evaluation of public policies: The second part of the thesis includes two positive analyses which investigate household choices to derive greenhouse gas abatement potentials. In the residential heating market, the energy efficiency level exhibited and the type of energy carrier used are

  17. Essays on the economics of energy markets. Security of supply and greenhouse gas abatement

    Energy Technology Data Exchange (ETDEWEB)

    Dieckhoener, Caroline

    2013-02-01

    In summary, the presented thesis analyzes two distinct economic subjects: security of supply in natural gas markets and greenhouse gas abatement potentials in the residential heating market. These subjects considered both reflect key points in the triangle of energy policy and are both associated with transnational market failures within energy markets. The security of supply analyses in an intermeshed network are approached from a rather normative, top-down perspective of a social planner. On the contrary, the analyses of greenhouse gases emitted by households are positive analyses of consumer choices. The normative analyses of security of supply in natural gas markets and the positive analyses on greenhouse gas abatement in the residential heating market are organized in two parts of the thesis. 1. Normative analyses - Security of supply in natural gas markets: The two papers of the first part of the dissertation thesis are based on a normative approach with the European natural gas market and infrastructure model TIGER that allows for security of supply analyses. The general idea behind the modeling approach is based on the assumption of a social planner and finds an efficient utilization of the natural gas infrastructure. More precisely, the security of supply analyses conducted in the first part of the thesis refer to scenario simulations of disrupted supply routes in the European natural gas network. The effects of these security of supply scenarios on the usage of other infrastructure components, on marginal supply costs and disruptions to consumers are investigated. 2. Positive analyses of greenhouse gas abatement potentials - Econometric modeling of consumer choices and evaluation of public policies: The second part of the thesis includes two positive analyses which investigate household choices to derive greenhouse gas abatement potentials. In the residential heating market, the energy efficiency level exhibited and the type of energy carrier used are

  18. Renewable energy sources offering flexibility through electricity markets

    DEFF Research Database (Denmark)

    Soares, Tiago

    governments. Renewable energy sources are characterized by their uncertain and variable production that limits the current operation and management tools of the power system. Nevertheless, recent developments of renewable energy technologies enable these resources to provide, to some extent, ancillary......All over the world, penetration of renewable energy sources in power systems has been increasing, creating new challenges in electricity markets and for operation and management of power systems, since power production from these resources is by nature uncertain and variable. New methods and tools...... in both energy and reserve markets. In this context, the main contribution of this thesis is the design and development of optimal offering strategies for the joint participation of renewables in the energy and reserve markets. Two distinct control policies for the splitting of available wind power...

  19. Strategic sizing of energy storage facilities in electricity markets

    DEFF Research Database (Denmark)

    Nasrolahpour, Ehsan; Kazempour, Seyyedjalal; Zareipour, Hamidreza

    2016-01-01

    This paper proposes a model to determine the optimasize of an energy storage facility from a strategic investor’s perspective. This investor seeks to maximize its profit through making strategic planning, i.e., storage sizing, and strategic operational, i.e., offering and bidding, decisions. We...... consider the uncertainties associated with rival generators’ offering strategies and future load levels in the proposed model. The strategic investment decisions include the sizes of charging device, discharging device and energy reservoir. The proposed model is a stochastic bi-level optimization problem......; the planning and operation decisions are made in the upper-level, and market clearing is modeled in the lower-level under different operating scenarios. To make the proposed model computationally tractable, an iterative solution technique based on Benders’ decomposition is implemented. This provides a master...

  20. Modeling the water-energy nexus under changing energy market and climate conditions: a case study in the Italian Alps

    Science.gov (United States)

    Denaro, Simona; Anghileri, Daniela; Castelletti, Andrea; Fumagalli, Elena; Giuliani, Matteo

    2015-04-01

    Climate change and growing population are expected to severely affect freshwater availability by the end of 21th century. Many river basins, especially in the Mediterranean region, are likely to become more prone to periods of reduced water supply, risking considerable impacts on the society, the environment, and the economy, thus emphasizing the need to rethink the way water resources are distributed, managed, and used at the regional and river basin scale. This paradigm shift will be essential to cope with the undergoing global change, characterized by growing water demands and by increasingly uncertain hydrologic regimes. Most of the literature traditionally focused on predicting the impacts of climate change on water resources, while our understanding of the human footprint on the hydrological cycle is limited. For example, changes in the operation of the Alpine hydropower reservoirs induced by socio-economic drivers (e.g., development of renewable energy) have been already observed over the last few years and have produced relevant impacts on multiple water uses due to the altered distribution of water volumes in time and space. Modeling human decisions as well as the links between society and environmental systems becomes key to develop reliable projections on the co-evolution of the coupled human-water systems and deliver robust adaptation strategies. This work contributes a preliminary model-based analysis of the behaviour of hydropower operators under changing energy market and climate conditions. The proposed approach is developed for the San Giacomo-Cancano reservoir system located in the Lake Como catchment. The identification of the current operating policy is supported by input variable selection methods to select the most relevant hydrological and market based drivers to explain the observed release time series. The identified model is then simulated under a set of future scenarios, accounting for both climate and socio-economic change (e

  1. Evaluation of NEB energy markets and supply monitoring function

    International Nuclear Information System (INIS)

    2003-09-01

    Canada's National Energy Board regulates the exports of oil, natural gas, natural gas liquids and electricity. It also regulates the construction, operation and tolls of international and interprovincial pipelines and power lines. It also monitors energy supply and market developments in Canada. The Board commissioned an evaluation of the monitoring function to ensure the effectiveness and efficiency of the monitoring activities, to identify gaps in these activities and to propose recommendations. The objectives of the monitoring mandate are to provide Canadians with information regarding Canadian energy markets, energy supply and demand, and to ensure that exports of natural gas, oil, natural gas liquids and electricity do not occur at the detriment of Canadian energy users. The Board ensures that Canadians have access to domestically produced energy on terms that are as favourable as those available to export buyers. The following recommendations were proposed to improve the monitoring of energy markets and supply: (1) increase focus and analysis on the functioning of gas (first priority) and other commodity markets, (2) increase emphasis on forward-looking market analysis and issue identification, (3) demonstrate continued leadership by encouraging public dialogue on a wide range of energy market issues, (4) improve communication and increase visibility of the NEB within the stakeholder community, (5) build on knowledge management and organizational learning capabilities, (6) improve communication and sharing of information between the Applications and Commodities Business Units, and (7) enhance organizational effectiveness of the Commodities Business Unit. figs

  2. On the economic analysis of problems in energy efficiency: Market barriers, market failures, and policy implications

    Energy Technology Data Exchange (ETDEWEB)

    Sanstad, A.H.; Koomey, J.G.; Levine, M.D.

    1993-01-01

    In his recent paper in The Energy Journal, Ronald Sutherland argues that several so-called market barriers'' to energy efficiency frequently cited in the literature are not market failures in the conventional sense and are thus irrelevant for energy policy. We argue that Sutherland has inadequately analyzed the idea of market barrier and misrepresented the policy implications of microeconomics. We find that economic theory, correctly interpreted, does not provide for the categorical dismissal of market barriers. We explore important methodological issues underlying the debate over market barriers, and discuss the importance of reconciling the findings of non-economic social sciences with the economic analysis of energy demand and consumer decision-making. We also scrutinize Sutherland's attempt to apply finance theory to rationalize high implicit discount rates observed in energy-related choices, and find this use of finance theory to be inappropriate.

  3. Market clearing of joint energy and reserves auctions using augmented payment minimization

    International Nuclear Information System (INIS)

    Amjady, N.; Aghaei, J.; Shayanfar, H.A.

    2009-01-01

    This paper presents the market clearing of joint energy and reserves auctions and its mathematical formulation, focusing on a possible implementation of the Payment Cost Minimization (PCM). It also discusses another key point in debate: whether market clearing algorithm should minimize offer costs or payment costs? An aggregated simultaneous market clearing approach is proposed for provision of ancillary services as well as energy, which is in the form of Mixed Integer Nonlinear Programming (MINLP) formulation. In the MINLP formulation of the market clearing process, the objective function (Payment cost or offer cost) are optimized while meeting AC power flow constraints, system reserve requirements and lost opportunity cost (LOC) considerations. The model is applied to the IEEE 24-bus Reliability Test System (IEEE 24-bus RTS), and simulation studies are carried out to examine the effectiveness of each objective function. (author)

  4. Modeling of a green certificate market

    International Nuclear Information System (INIS)

    Marchenko, O.V.

    2008-01-01

    The paper considers one of the economic mechanisms, stimulating the introduction of renewable energy sources (RES) - a green certificate market. A mathematical model was developed to describe a supply and demand balance in the electricity and green certificate markets simultaneously. The sellers of certificates are RES owners, who obtain certificates for each unit of electricity produced, and the buyers are consumers, who are obliged by law to buy a certain share of this electricity. Equilibrium structures of the power system including RES with stochastic operation conditions are calculated. The prices of electricity and certificates, as well as the total economic effect of the system are determined taking into account external costs (environmental damages). The paper shows that a mechanism of green certificates is not an ideal means for minimizing the impact of energy on the environment: the economic effect turns out to be smaller than the maximum possible one. However, this deviation is relatively small, therefore the green certificate market allows the external effects to be partially taken into account. Such a market creates incentives for investors, electricity producers and consumers to make power sources mix, modes of electricity production and consumption closer to the optimum ones in terms of the economy as a whole. (author)

  5. Energy market integration in South America

    International Nuclear Information System (INIS)

    Hammons, T.J.; Franco, N. de; Sbertoli, L.V.; Khelil, C.; Rudnick, H.; Clerici, A.; Longhi, A.

    1997-01-01

    This article is a summary of presentations made during the 1997 Winter Meeting panel session on Power and Natural Gas in Latin America: Towards an Integrated Market. Reregulation and demand for energy resources to support economic growth are driving international natural gas and electricity exchange initiatives. Panelists focused on the gas and electric power industry in Latin America in terms of the: transport of gas or transmission of electricity; energy market integration in the southern cone of South America; and issues on gas use for electricity generation in South America countries. Countries such as Argentina, Bolivia, and Peru will export natural gas to Brazil, Uruguay, Paraguay and Chile, an the energy matrices of these countries will change

  6. Medium-Term Renewable Energy Market Report 2013: Market trends and projections to 2018

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2013-06-01

    Renewable electricity generation increased strongly worldwide in 2012, and deployment is occurring in a greater number of markets. However, the story of renewable energy development is becoming more complex. Short-term indicators in some regions of the globe have pointed to increased challenges. Despite remaining high, global new investment in renewable energy fell in 2012. Policy uncertainties, economic challenges, incentive reductions and competition from other energy sources clouded the investment outlook for some markets. Some countries and regions have faced difficulties in integrating variable renewables in their power grids. The renewable manufacturing industry, particularly solar and wind, entered a deeper period of restructuring and consolidation. Nevertheless, despite economic, policy and industry turbulence, the underlying fundamentals for renewable deployment remain robust. Even with challenges in some countries, more positive developments elsewhere continue to drive global growth. Competitive opportunities for renewables are emerging across traditional and new markets. While OECD countries remain a driver of renewable power development, non-OECD countries are increasingly accounting for overall growth. The roles of biofuels for transport and renewable heat are also increasing, though at somewhat slower rates than renewable electricity. The Medium-Term Renewable Energy Market Report 2013 assesses market trends for the renewable electricity, biofuels for transport and renewable heat sectors, identifying drivers and challenges to deployment, and making projections through 2018. The analysis features in-depth renewable electricity market analysis and forecasts for a slate of countries in the OECD and non-OECD. The report also presents an outlook for renewable electricity technologies, global biofuels supply, final energy use of renewables for heat and prospects for renewable investment.

  7. Market influence on the low carbon energy refurbishment of existing multi-residential buildings

    International Nuclear Information System (INIS)

    Atkinson, Jonathan G.B.; Jackson, Tim; Mullings-Smith, Elizabeth

    2009-01-01

    This paper explores the relationship between the energy market; the political and regulatory context; and energy design decisions for existing multi-residential buildings, to determine what form the energy market landscape would take if tailored to encourage low carbon solutions. The links between market dynamics, Government strategies, and building designs are mapped to understand the steps that achieve carbon reduction from building operation. This is achieved using a model that takes financial and energy components with market and design variables to provide net present cost and annual carbon outputs. The financial component applies discounted cash flow analysis over the building lifespan, with discount rates reflecting contractual characteristics; the carbon component uses Standard Assessment Procedure (SAP) 2005. A scenario approach is adopted to test alternative strategies selected to encourage low carbon solutions in two residential and two office designs. The results show that the forward assumption of energy price escalation is the most influential factor on energy investment, together with the expected differentiation between the escalation of gas and electricity prices. Using this, and other influencing factors, the research reveals trends and strategies that will achieve mainstream application of energy efficiency and microgeneration technologies, and reduce carbon emissions in the existing multi-residential sector.

  8. Model documentation: Natural gas transmission and distribution model of the National Energy Modeling System. Volume 1

    International Nuclear Information System (INIS)

    1995-01-01

    The Natural Gas Transmission and Distribution Model (NGTDM) is the component of the National Energy Modeling System (NEMS) that is used to represent the domestic natural gas transmission and distribution system. NEMS was developed in the Office of integrated Analysis and Forecasting of the Energy information Administration (EIA). NEMS is the third in a series of computer-based, midterm energy modeling systems used since 1974 by the EIA and its predecessor, the Federal Energy Administration, to analyze domestic energy-economy markets and develop projections. The NGTDM is the model within the NEMS that represents the transmission, distribution, and pricing of natural gas. The model also includes representations of the end-use demand for natural gas, the production of domestic natural gas, and the availability of natural gas traded on the international market based on information received from other NEMS models. The NGTDM determines the flow of natural gas in an aggregate, domestic pipeline network, connecting domestic and foreign supply regions with 12 demand regions. The methodology employed allows the analysis of impacts of regional capacity constraints in the interstate natural gas pipeline network and the identification of pipeline capacity expansion requirements. There is an explicit representation of core and noncore markets for natural gas transmission and distribution services, and the key components of pipeline tariffs are represented in a pricing algorithm. Natural gas pricing and flow patterns are derived by obtaining a market equilibrium across the three main elements of the natural gas market: the supply element, the demand element, and the transmission and distribution network that links them. The NGTDM consists of four modules: the Annual Flow Module, the Capacity F-expansion Module, the Pipeline Tariff Module, and the Distributor Tariff Module. A model abstract is provided in Appendix A

  9. Model documentation: Natural gas transmission and distribution model of the National Energy Modeling System. Volume 1

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-02-17

    The Natural Gas Transmission and Distribution Model (NGTDM) is the component of the National Energy Modeling System (NEMS) that is used to represent the domestic natural gas transmission and distribution system. NEMS was developed in the Office of integrated Analysis and Forecasting of the Energy information Administration (EIA). NEMS is the third in a series of computer-based, midterm energy modeling systems used since 1974 by the EIA and its predecessor, the Federal Energy Administration, to analyze domestic energy-economy markets and develop projections. The NGTDM is the model within the NEMS that represents the transmission, distribution, and pricing of natural gas. The model also includes representations of the end-use demand for natural gas, the production of domestic natural gas, and the availability of natural gas traded on the international market based on information received from other NEMS models. The NGTDM determines the flow of natural gas in an aggregate, domestic pipeline network, connecting domestic and foreign supply regions with 12 demand regions. The methodology employed allows the analysis of impacts of regional capacity constraints in the interstate natural gas pipeline network and the identification of pipeline capacity expansion requirements. There is an explicit representation of core and noncore markets for natural gas transmission and distribution services, and the key components of pipeline tariffs are represented in a pricing algorithm. Natural gas pricing and flow patterns are derived by obtaining a market equilibrium across the three main elements of the natural gas market: the supply element, the demand element, and the transmission and distribution network that links them. The NGTDM consists of four modules: the Annual Flow Module, the Capacity F-expansion Module, the Pipeline Tariff Module, and the Distributor Tariff Module. A model abstract is provided in Appendix A.

  10. Engineering approach to model and compute electric power markets settlements

    International Nuclear Information System (INIS)

    Kumar, J.; Petrov, V.

    2006-01-01

    Back-office accounting settlement activities are an important part of market operations in Independent System Operator (ISO) organizations. A potential way to measure ISO market design correctness is to analyze how well market price signals create incentives or penalties for creating an efficient market to achieve market design goals. Market settlement rules are an important tool for implementing price signals which are fed back to participants via the settlement activities of the ISO. ISO's are currently faced with the challenge of high volumes of data resulting from the increasing size of markets and ever-changing market designs, as well as the growing complexity of wholesale energy settlement business rules. This paper analyzed the problem and presented a practical engineering solution using an approach based on mathematical formulation and modeling of large scale calculations. The paper also presented critical comments on various differences in settlement design approaches to electrical power market design, as well as further areas of development. The paper provided a brief introduction to the wholesale energy market settlement systems and discussed problem formulation. An actual settlement implementation framework and discussion of the results and conclusions were also presented. It was concluded that a proper engineering approach to this domain can yield satisfying results by formalizing wholesale energy settlements. Significant improvements were observed in the initial preparation phase, scoping and effort estimation, implementation and testing. 5 refs., 2 figs

  11. Business model innovation in electricity supply markets: The role of complex value in the United Kingdom

    International Nuclear Information System (INIS)

    Hall, Stephen; Roelich, Katy

    2016-01-01

    This research investigates the new opportunities that business model innovations are creating in electricity supply markets at the sub-national scale. These local supply business models can offer significant benefits to the electricity system, but also generate economic, social, and environmental values that are not well accounted for in current policy or regulation. This paper uses the UK electricity supply market to investigate new business models which rely on more complex value propositions than the incumbent utility model. Nine archetypal local supply business models are identified and their value propositions, value capture methods, and barriers to market entry are analysed. This analysis defines 'complex value' as a key concept in understanding business model innovation in the energy sector. The process of complex value identification poses a challenge to energy researchers, commercial firms and policymakers in liberalised markets; to investigate the opportunities for system efficiency and diverse outcomes that new supplier business models can offer to the electricity system. - Highlights: •Business models of energy supply markets shape energy transitions. •The British system misses four opportunities of local electricity supply. •Nine new business model archetypes of local supply are analysed. •New electricity business models have complex value propositions. •A process for policy response to business model innovation is presented.

  12. Price determinants of the European carbon market and interactions with energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Schumacher, Katja; Cludius, Johanna; Matthes, Felix [Oeko Institut e.V., Berlin (Germany); Diekmann, Jochen; Zaklan, Aleksandar [Deutsches Institut fuer Wirtschaftsforschung, Berlin (Germany); Schleich, Joachim [Fraunhofer-Institut fuer Systemtechnik und Innovationsforschung (ISI), Karlsruhe (Germany)

    2012-06-15

    This report explores the determinants of short run price movements in the carbon market and their interaction with energy markets, in particular with the electricity market. Focusing on Phase 2 of the EU ETS we conduct econometric time series analysis based on continental EU and UK market data. Our findings suggest that market fundamentals have a dominant effect on the EUA price, but that non-fundamental factors may also play a role. We further found that the electricity price has a significant positive impact on the carbon price in the short run.

  13. Asia's growing role in the global energy markets

    International Nuclear Information System (INIS)

    Anon.

    1995-01-01

    Three articles are drawn together in this special Petroleum Economist survey on the growing role played by Asian countries in global energy markets, both as world gas suppliers and as important markets for various oil products. The first looks at independent storage in the Asian countries in global energy markets, both as world gas suppliers and as important markets for various oil products. The first looks at independent storage in the Asian Pacific area; the second describes the growth of Asia's natural gas industry and the third item celebrates the product surplus produced due to recent refinery expansion programs. (UK)

  14. European energy market liberalisation and integration. An assesment of the new EU energy package

    International Nuclear Information System (INIS)

    De Joode, J.; Van Oostvoorn, F.

    2008-06-01

    The new energy package presented by the European Commission (EC) in September 2007 contains a number of diverse, and sometimes controversial, measures aimed at bringing current European energy markets closer to the ideal of one competitive and fully integrated market. We discuss the flaws and merits of the package and signal a number of concerns regarding the ultimate effectiveness of the new energy market Directive into which the proposed package will culminate

  15. A snapshot of the European energy service market in 2010 and policy recommendations to foster a further market development

    International Nuclear Information System (INIS)

    Marino, Angelica; Bertoldi, Paolo; Rezessy, Silvia; Boza-Kiss, Benigna

    2011-01-01

    As of 2010, the energy service market in Europe is still far from utilising its full potential. Wide-scale peer-reviewed studies investigating the development and up-to-date status of the European ESCo market are scarce. This article presents a comprehensive insight of the European ESCo industry based on the results from a large-scale survey carried out 2009-2010 in 39 European countries. The observed market development during the period 2007-2010, trends in business practices, and factors influencing the ESCo industry evolution are described. Finally, having considered the remaining barriers and the supporting factors as well as the successful experiences in Europe, policy measures that could further promote ESCo activities are proposed. - Highlights: → ESCo markets in Europe continue to show diverse stages of development. → Between 2007 and 2010 the European ESCo market underwent a slow growth. → European states have introduced favourable legislative framework for energy conservation. → Loan guarantees recognising the ESCo contractual model increase the access to finance. → Establishment of quality standards and certification schemes for ESCos are essential.

  16. Market distortions and aggregate productivity: Evidence from Chinese energy enterprises

    International Nuclear Information System (INIS)

    Dai, Xiaoyong; Cheng, Liwei

    2016-01-01

    Market distortions can generate resource misallocations across heterogeneous firms and reduce aggregate productivity. This paper measures market distortions and aggregate productivity growth in China's energy sector. We use the wedge between output elasticities and factor shares in revenues to recover a measure of firm-level market distortions. Using data on a large sample of Chinese energy enterprises from 1999 to 2007, our estimations provide strong evidence of the existence of both factor and product market distortions within and across China's various energy industries. The productivity aggregation and decomposition results demonstrate that the estimated aggregate productivity growth (APG) is, on average, 2.595% points per year, of which technological change, resource reallocation, and firm entries and exits account for 1.981, 0.068, and 0.546% points, respectively. The weak contributions of resource reallocation and firm turnover to APG are also found in energy sub-industries, except in the coal industry. Our research suggests that China's energy sector has major potential for productivity gains from resource reallocation through the reduction of market distortions. - Highlights: •We estimate market distortions and productivity growth of China's energy sector. •We use a large sample of Chinese energy enterprises. •There are evidences of the existence of factor and product market distortions. •Aggregate productivity growth is largely driven by firm-level technological change. •China's energy sector can realize productivity gains from resource reallocations.

  17. New approach for strategic bidding of Gencos in energy and spinning reserve markets

    International Nuclear Information System (INIS)

    Soleymani, S.; Ranjbar, A.M.; Shirani, A.R.

    2007-01-01

    In restructured and de-regulated power systems, generating companies (Gencos) are responsible for supplying electricity for both energy and reserve markets, which usually operate simultaneously. In this condition, the question is how much and for what price must each Genco generate for each market to maximize its profit, so this paper intends to answer to this question. In this paper, first, the combined energy and reserve markets are considered, and the Nash equilibrium points are determined. Then, the bidding strategies for each Genco at these points will be presented. The bids for the energy and 10 min spinning reserve (TMSR) markets are separated in the second stage, and again, the bidding strategies for each Genco for the two separated markets will be demonstrated. Comparison of the results shows that the separated bidding strategies, while being simplified with the algebraic optimization model and reducing the time consumed, give the same results as the combined ones. The Western System Coordinating Council (WSCC) nine bus test system is employed to illustrate and verify the results of the proposed method

  18. Energy modeling and comparative assessment beyond the market

    International Nuclear Information System (INIS)

    Rogner, H.-H.; Langlois, L.; McDonald, A.; Jalal, I.

    2004-01-01

    Market participants engage in constant comparative assessment of prices, available supplies, consumer options. Such implicit comparative assessment is a sine qua non for decision making in, and the smooth function of, competitive markets, but it is not always sufficient for policy makers who make decisions based on priorities other than or in addition to market prices. Supplementary mechanisms are needed to make explicit, to expose for consideration and to incorporate into their decision making processes, broader factors that are not necessarily reflected directly in the market price of a good or service. These would include, for example, employment, environment, national security or trade considerations. They would include long-term considerations, e.g., global warming or greatly diminished future supplies of oil and gas. This paper explores different applications of comparative assessment beyond the market, reviews different approaches for accomplishing such evaluations, and presents some tools available for conducting various types of extra-market comparative assessment, including those currently in use by Member States of the IAEA.(author)

  19. Distributional impacts of state-level energy efficiency policies in regional electricity markets

    International Nuclear Information System (INIS)

    Sahraei-Ardakani, Mostafa; Blumsack, Seth; Kleit, Andrew

    2012-01-01

    A number of U.S. states have passed legislation targeting energy efficiency and peak demand reduction. We study one such state, Pennsylvania, within the context of PJM, a regional electricity market covering numerous different states. Our focus is on the distributive impacts of this policy—specifically how the policy is likely to impact electricity prices in different areas of Pennsylvania and in the PJM market more generally. Such spatial differences in policy impacts are difficult to model and the transmission system is often ignored in policy studies. Our model estimates supply curves on a “zonal” basis within regional electricity markets and yields information on price and fuel utilization within each zone. We use the zonal supply curves estimated by our model to study regional impacts of energy-efficiency legislation on utilities both inside and outside of Pennsylvania. For most utilities in Pennsylvania, it would reduce the influence of natural gas on electricity price formation and increase the influence of coal. It would also save 2.1 to 2.8 percent of total energy cost in Pennsylvania in a year similar to 2009. The savings are lower than 0.5 percent in other PJM states and the prices may slightly increase in Washington, DC area. - Highlights: ► We model distributional impacts of energy efficiency and conservation policies. ► We use our model to study the impacts of Pennsylvania act 129. ► We estimate $235 million in annual savings for PA and $275 million for PJM. ► The prices decrease in most of the zones but the impacts are not uniform. ► The influence of coal on electricity prices increases relative to natural gas.

  20. Analysis of the Russian Market for Building Energy Efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Lychuk, Taras; Evans, Meredydd; Halverson, Mark A.; Roshchanka, Volha

    2012-12-01

    This report provides analysis of the Russian energy efficiency market for the building sector from the perspective of U.S. businesses interested in exporting relevant technologies, products and experience to Russia. We aim to help U.S. energy efficiency and environmental technologies businesses to better understand the Russian building market to plan their market strategy.

  1. Supporting Renewable energies in Europe - The German Model

    International Nuclear Information System (INIS)

    Kreuzer, Karin

    2013-01-01

    This document presents some key information and figures about Germany's energy transition (Energiewende), the leading up to the Renewable energy Sources Act (EEG) and its amendments, the Current EEG Act: push to direct marketing and the market premium model, and the future challenges and the planned EEG reform in 2014

  2. Real options and asset valuation in competitive energy markets

    Science.gov (United States)

    Oduntan, Adekunle Richard

    The focus of this work is to develop a robust valuation framework for physical power assets operating in competitive markets such as peaking or mid-merit thermal power plants and baseload power plants. The goal is to develop a modeling framework that can be adapted to different energy assets with different types of operating flexibilities and technical constraints and which can be employed for various purposes such as capital budgeting, business planning, risk management and strategic bidding planning among others. The valuation framework must also be able to capture the reality of power market rules and opportunities, as well as technical constraints of different assets. The modeling framework developed conceptualizes operating flexibilities of power assets as "switching options' whereby the asset operator decides at every decision point whether to switch from one operating mode to another mutually exclusive mode, within the limits of the equipment constraints of the asset. As a current decision to switch operating modes may affect future operating flexibilities of the asset and hence cash flows, a dynamic optimization framework is employed. The developed framework accounts for the uncertain nature of key value drivers by representing them with appropriate stochastic processes. Specifically, the framework developed conceptualizes the operation of a power asset as a multi-stage decision making problem where the operator has to make a decision at every stage to alter operating mode given currently available information about key value drivers. The problem is then solved dynamically by decomposing it into a series of two-stage sub-problems according to Bellman's optimality principle. The solution algorithm employed is the Least Squares Monte Carlo (LSM) method. The developed valuation framework was adapted for a gas-fired thermal power plant, a peaking hydroelectric power plant and a baseload power plant. This work built on previously published real options valuation

  3. Green power: A renewable energy resources marketing plan

    International Nuclear Information System (INIS)

    Barr, R.C.

    1997-01-01

    Green power is electricity generated from renewable energy sources such as power generated from the sun, the wind, the heat of the earth, and biomass. Green pricing is the marketing strategy to sell green power to customers who voluntarily pay a premium for it. Green pricing is evolving from the deregulation of the electric industry, the need for clean air, reflected in part as concern over global warming, and technology advances. The goal of the renewable energy marketing plan is to generate enough revenues for a utility to fund power purchase agreements (PPAs) with renewable energy developers or construct its own renewable facilities. Long-term, fixed price PPAs enable developers to obtain financing to construct new facilities, sometimes taking technological risks which a utility might not take otherwise. The marketing plan is built around different rate premiums for different categories of ratepayers, volunteer customer participation, customer participation recognition, and budget allocations between project costs and power marketing costs. Green prices are higher than those for conventional sources, particularly prices from natural gas fired plants. Natural gas is abundant relative to oil in price per British thermal unit (Btu). Green pricing can help bridge the gap between the current oversupply of gas and the time, not far off, when all petroleum prices will exceed those for renewable energy. The rapid implementation of green pricing is important. New marketing programs will bolster the growing demand for renewable energy evidenced in many national surveys thus decreasing the consumption of power now generated by burning hydrocarbons. This paper sets forth a framework to implement a green power marketing plan for renewable energy developers and utilities working together

  4. Wind offering in energy and reserve markets

    DEFF Research Database (Denmark)

    Soares, Tiago; Pinson, Pierre; Morais, Hugo

    2016-01-01

    The increasing penetration of wind generation in power systems to fulfil the ambitious European targets will make wind power producers to play an even more important role in the future power system. Wind power producers are being incentivized to participate in reserve markets to increase...... their revenue, since currently wind turbine/farm technologies allow them to provide ancillary services. Thus, wind power producers are to develop offering strategies for participation in both energy and reserve markets, accounting for market rules, while ensuring optimal revenue. We consider a proportional...... offering strategy to optimally decide upon participation in both markets by maximizing expected revenue from day-ahead decisions while accounting for estimated regulation costs for failing to provide the services. An evaluation of considering the same proportional splitting of energy and reserve in both...

  5. Advertising, marketing and purchase behavior for energy-related products

    Energy Technology Data Exchange (ETDEWEB)

    Tiedemann, K.; Nelson, D.

    1998-07-01

    Energy conservation programs have relied heavily on incentives and regulatory standards to reduce residential energy consumption. However, in the changing market environment characterized by competitive pressures, alternative mechanisms such as marketing and promotions may increase substantially in importance compared to the demand-side management programs which have been the focus of most research. This paper describes the role of marketing and promotions in encouraging energy efficiency at the household level in British Columbia. The paper examines three related issues: first, the purchase process for energy-related products; second, the criteria used by customers in making purchase decisions; and third, the impact and effectiveness of alternative marketing tools. A key finding is the energy-related purchases do not fall into the impulse purchase category. There are two reasons for this: first, most of these products require installation and this requires a high level of commitment on the part of the purchaser; second, many energy-related products require a significant outlay of funds and this reduces impulse buying.

  6. Optimal planning and operation of aggregated distributed energy resources with market participation

    International Nuclear Information System (INIS)

    Calvillo, C.F.; Sánchez-Miralles, A.; Villar, J.; Martín, F.

    2016-01-01

    Highlights: • Price-maker optimization model for planning and operation of aggregated DER. • 3 Case studies are proposed, considering different electricity pricing scenarios. • Analysis of benefits and effect on electricity prices produced by DER aggregation. • Results showed considerable benefits even for relatively small aggregations. • Results suggest that the impact on prices should not be overlooked. - Abstract: This paper analyzes the optimal planning and operation of aggregated distributed energy resources (DER) with participation in the electricity market. Aggregators manage their portfolio of resources in order to obtain the maximum benefit from the grid, while participating in the day-ahead wholesale electricity market. The goal of this paper is to propose a model for aggregated DER systems planning, considering its participation in the electricity market and its impact on the market price. The results are the optimal planning and management of DER systems, and the appropriate energy transactions for the aggregator in the wholesale day-ahead market according to the size of its aggregated resources. A price-maker approach based on representing the market competitors with residual demand curves is followed, and the impact on the price is assessed to help in the decision of using price-maker or price-taker approaches depending on the size of the aggregated resources. A deterministic programming problem with two case studies (the average scenario and the most likely scenario from the stochastic ones), and a stochastic one with a case study to account for the market uncertainty are described. For both models, market scenarios have been built from historical data of the Spanish system. The results suggest that when the aggregated resources have enough size to follow a price-maker approach and the uncertainty of the markets is considered in the planning process, the DER systems can achieve up to 50% extra economic benefits, depending on the market

  7. Trends in the development of energy markets

    International Nuclear Information System (INIS)

    Penkov, P.; Donchev, A.; Stefanova, E.

    2000-01-01

    The 20th annual energy symposium (7-8 Dec., 1999, Houston) has been organized by 'Arthur Andersen' company. The main subjects presented are: research, monitoring and assessment of the market risk by BUMP system; electro-energy systems development; energy markets transformation including their liberalization and convergence; necessity of investment capital and possibilities for its effective increasing; structural reform in electric energy sector, in accordance with the European requirements. A review on the achievements and problems in the energy field in the Central and Eastern European countries during the years after the democratic changes is presented at the round table discussion. It is outlined the significance of the operating energy laws in this countries and increasing productivity, and efficiency of the former government electricity companies for the development of corporations. The process of transformation and privatization in some countries in Central and Eastern Europe: Hungary, Poland, Romania, Czech Republic, Latvia, Lithuania is analyzed. As a result of the reports delivered at the 20th yearly symposium, conclusions are made that even in the developed countries the production competition gets into trouble. The right field of market competition in electric-energy field isn't a struggle for production but it is a struggle for investments

  8. Use of derivative instruments to integrate renewable energies into the electricity market

    International Nuclear Information System (INIS)

    Hartmann, Kilian; Nelles, Michael; Candra, Dodiek Ika

    2017-01-01

    The implementation of renewable energies to the electricity market is inefficient and expensive with current measures. Further these measures are prejudicial for the existing energy-only-market. The combination of fluctuating and controllable renewable powers in virtual power plants enables the marketing of this power as a derivate on the future market. Thus would relieve the spot market and stabilize pricing on both markets. Subsequently the renewable energy obligation will reduce and renewable energies could be marketed as secured power.

  9. Vision document Energy Market Concentrations

    International Nuclear Information System (INIS)

    De Maa, J.; Van Gemert, M.; Giesbertz, P.; Vermeulen, M.; Beusmans, P.; Te Velthuis, M.; Drahos, M.

    2006-11-01

    June 2006 the second consultation document of the Netherlands Competition Authority (NMa) on the title subject (the first was in 2002) was published. The purpose of the consultation is to involve all the relevant and interested parties in the development of the energy market in the Netherlands and to consult those parties on studies that have been carried out by the NMa so far: (1) defining (possible) relevant markets in the electricity sector, and (2) the vision and opinion of the NMa with respect to mergers and take-overs. Also, the consultation document is a contribution to the response of the letter from the Dutch Minister of Economic Affairs of May 2005 in which the NMa was requested to give an overview of the preconditions with regard to competition and it's legal aspects. In this vision document all the relevant parties and stakeholders are informed about the development of energy markets in the Netherlands and abroad. Also an overview is given of the reactions from many stakeholders, involved and interested parties. [nl

  10. Project-matrix models of marketing organization

    Directory of Open Access Journals (Sweden)

    Gutić Dragutin

    2009-01-01

    Full Text Available Unlike theory and practice of corporation organization, in marketing organization numerous forms and contents at its disposal are not reached until this day. It can be well estimated that marketing organization today in most of our companies and in almost all its parts, noticeably gets behind corporation organization. Marketing managers have always been occupied by basic, narrow marketing activities as: sales growth, market analysis, market growth and market share, marketing research, introduction of new products, modification of products, promotion, distribution etc. They rarely found it necessary to focus a bit more to different aspects of marketing management, for example: marketing planning and marketing control, marketing organization and leading. This paper deals with aspects of project - matrix marketing organization management. Two-dimensional and more-dimensional models are presented. Among two-dimensional, these models are analyzed: Market management/products management model; Products management/management of product lifecycle phases on market model; Customers management/marketing functions management model; Demand management/marketing functions management model; Market positions management/marketing functions management model. .

  11. Market-oriented Energy Revolution in China and Impacts

    Institute of Scientific and Technical Information of China (English)

    Wang Zhen; Xue Qing

    2015-01-01

    China has been undergoing a new round ofambitious reform in its energy sectors after presidentXi's call for“energy revolution”in June 2014. Thistop-down strategy paves a way to market-oriented transition for Chinese energy govern system on both industrial level and corporation level. This paper analyzes the newtrends of China's energy policy and its impacts on crude oil market as well as on Chinese state-owned petroleum enterprises. Thisrevolutionwill reshapethe managementsystemof Chinese energyindustryto cope with rising energy demand, supply restraints, huge environmental costs and backward technologies.With the deepening reform of oil and gas pricing mechanism and the opening-up of petroleum industry, Chinese domestic energy market will be upgraded towards a more rationalized and competitive system. Mixed ownerships will be introduced to stimulate the vitality, creativity and brandinfluence of state-owned petroleum corporations, pushing Chinese national oil majors to collaboratejointly withvarious foreign oil and gas companies and the emerging domestic private companies with great entrepreneurship.

  12. Barriers to retail marketing of renewable energy products in an energy-rich province

    International Nuclear Information System (INIS)

    Haner, S.A.

    1999-01-01

    Personal experiences in attempting to market photovoltaics and other renewable energy products in Alberta, a province rich in energy sources, are recounted as part of an exploration of ways to help industry to develop strategies that will advance the acceptance of renewable energy products, particularly in areas of the world that are not concerned about energy supply. Social acceptability, emphasis on a healthy and convenient lifestyle associated with renewable energy products, practical, user-friendly products, and competitive prices, are some of the key elements in successfully marketing renewable energy products

  13. Marketing strategy - sales system for energy saving technology in the heat market

    Energy Technology Data Exchange (ETDEWEB)

    Dommann, D

    1984-06-04

    Modern industrial society is undergoing a period of upheaval which is sparing no company. Today's greatest challenge to management is to get this transition under control. The process of change inevitably effects marketing policies and company employees. There are doubtlessly many viable marketing strategies available, but they are of little use if they cannot be applied in the market by qualified personnel. In this article the author gives suggestions for selling energy conserving technology in today's heat market using a systematic sales method.

  14. Austria's wind energy potential – A participatory modeling approach to assess socio-political and market acceptance

    International Nuclear Information System (INIS)

    Höltinger, Stefan; Salak, Boris; Schauppenlehner, Thomas; Scherhaufer, Patrick; Schmidt, Johannes

    2016-01-01

    Techno-economic assessments confirm the potential of wind energy to contribute to a low carbon bioeconomy. The increasing diffusion of wind energy, however, has turned wind energy acceptance into a significant barrier with respect to the deployment of wind turbines. This article assesses whether, and at what cost, Austrian renewable energy targets can be met under different expansion scenarios considering the socio-political and market acceptance of wind energy. Land-use scenarios have been defined in a participatory modeling approach with stakeholders from various interest groups. We calculated the levelized cost of electricity (LCOE) for all of the potential wind turbine sites, which we used to generate wind energy supply curves. The results show that wind energy production could be expanded to 20% of the final end energy demand in three out of four scenarios. However, more restrictive criteria increase LCOE by up to 20%. In contrast to common views that see local opposition against wind projects as the main barrier for wind power expansion, our participatory modeling approach indicates that even on the level of key stakeholders, the future possible contribution of wind energy to Austrian renewable energy targets reaches from almost no further expansion to very high shares of wind energy. - Highlights: • Including social barriers could reduce Austria’s wind potential from 92.78 to 3.89 TWh • Costs for attaining a 20% wind energy share vary by 20% between the scenarios • Socially acceptable wind area potential ranges from 0.1 to 3.9% of Austria’s total area • Excluding forest areas lowers the maximum wind energy potential by 45%

  15. Canadian natural gas market: dynamics and pricing -- an energy market assessment

    International Nuclear Information System (INIS)

    2000-11-01

    This publication is part of the Energy Market Assessment Program of the National Energy Board. It focuses on identifying factors that affect natural gas prices and describe the current functioning of domestic regional markets in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and in the Atlantic provinces.The report emphasizes the growth in demand for natural gas throughout North America, and the aggressive response by producers to the current high price environment with increased drilling programs. The report also predicts a supply and demand adjustment over time, and an accompanying relief in natural gas prices, although the Board is not able to predict with certainty any movements in commodity markets. The Board's findings indicate that domestic users of natural gas paid less than export customers until 1998, at which point the two prices have converged. The end result of the convergence was that Canadians have had access to natural gas under terms and conditions which were no less favourable than those in effect for export customers. The influence of electronic trading systems is reviewed, noting that spot markets and futures markets such as the NYMEX and AECO-C/NIT have had a significant impact on the pricing of natural gas, mostly by allowing market participants to manage price volatility by forward contracting. 1 tab., 42 figs., 1 glossary

  16. A closed-loop energy price controlling method for real-time energy balancing in a smart grid energy market

    International Nuclear Information System (INIS)

    Alagoz, B. Baykant; Kaygusuz, Asim; Akcin, Murat; Alagoz, Serkan

    2013-01-01

    Future smart grids will require a flexible, observable, and controllable network for reliable and efficient energy delivery under uncertain generation and demand conditions. One of the mechanisms for efficient and reliable energy generation is dynamic demand-responsive generation management based on energy price adjustments that creates a balance in energy markets. This study presents a closed-loop PID (proportional–integral–derivative) controller-based price control method for autonomous and real-time balancing of energy demand and generation in smart grid electricity markets. The PID control system can regulate energy prices online to respond dynamically and instantaneously to the varying energy demands of grid consumers. Independent energy suppliers in the smart grid decide whether to sell their energy to the grid according to the energy prices declared by the closed-loop PID controller system. Energy market simulations demonstrate that PID-controlled energy price regulation can effectively maintain an energy balance for hourly demand fluctuations of consumers. - Highlights: • This study presents a control theoretic approach for management of energy balance. • A closed-loop PID controller-based price controlling method is used in smart grid. • The simulation results demonstrate advantages of PID-based energy price control. • This method is appropriate for demand responsive management of smart grid markets

  17. German energy market 2017; Deutscher Energiemarkt 2017

    Energy Technology Data Exchange (ETDEWEB)

    Schiffer, Hans-Wilhelm [Weltenergierat - Deutschland, Berlin (Germany). Arbeitsgruppe Energie fuer Deutschland; World Energy Council, London (United Kingdom). World Energy Resources

    2018-03-15

    The basic orientation of the German energy supply as specified in the energy concept of the Federal Government towards the increased use of renewable energies with simultaneous increase of energy efficiency still determines the market development. In the present case, a current overview of the German energy market 2017 is given, which provides a concentrated compilation of the key figures of the energy industry. As in previous years, the article not only summarizes general facts about the energy mix, but also deals in detail with the development of the individual energy sources oil, natural gas, brown and hard coal, nuclear energy and renewable energies. Furthermore, the price trends are explained on the international markets and inland. An overview of the development of greenhouse gas emissions from 1990 to 2017 concludes the contribution. [German] Die im Energiekonzept der Bundesregierung vorgegebene Grundausrichtung der deutschen Energieversorgung hin zur verstaerkten Nutzung erneuerbarer Energien bei gleichzeitiger Steigerung der Energieeffizienz bestimmt nach wie vor die Marktentwicklung. Vorliegend wird ein aktueller Ueberblick ueber den deutschen Energiemarkt 2017 gegeben, der eine konzentrierte Zusammenstellung der zentralen Eckdaten der Energiewirtschaft leistet. Wie in den Jahren zuvor fasst der Artikel nicht nur allgemeine Fakten zum Energiemix zusammen, sondern geht auch ausfuehrlich auf die Entwicklung der einzelnen Energietraeger Erdoel, Erdgas, Braun und Steinkohle, Kernenergie sowie regenerative Energien ein. Ferner werden die Preistendenzen auf den internationalen Maerkten und im Inland erlaeutert. Eine Uebersicht ueber die Entwicklung der Treibhausgas-Emissionen von 1990 bis 2017 schliesst den Beitrag ab.

  18. 75 FR 6378 - Covanta Pylmouth Renewable Energy Limited Partnership Covanta Energy Marketing LLC Covanta Power...

    Science.gov (United States)

    2010-02-09

    ..., ER10-410-000] Covanta Pylmouth Renewable Energy Limited Partnership Covanta Energy Marketing LLC... Pylmouth Renewable Energy Limited Partnership, Covanta Energy Marketing LLC, and Covanta Power, LLC filed... assistance with any FERC Online service, please e-mail [email protected] , or call (866) 208-3676...

  19. Analysis of the Chinese Market for Building Energy Efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Yu, Sha [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Evans, Meredydd [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Shi, Qing [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

    2014-03-20

    China will account for about half of the new construction globally in the coming decade. Its floorspace doubled from 1996 to 2011, and Chinese rural buildings alone have as much floorspace as all of U.S. residential buildings. Building energy consumption has also grown, increasing by over 40% since 1990. To curb building energy demand, the Chinese government has launched a series of policies and programs. Combined, this growth in buildings and renovations, along with the policies to promote green buildings, are creating a large market for energy efficiency products and services. This report assesses the impact of China’s policies on building energy efficiency and on the market for energy efficiency in the future. The first chapter of this report introduces the trends in China, drawing on both historical analysis, and detailed modeling of the drivers behind changes in floorspace and building energy demand such as economic and population growth, urbanization, policy. The analysis describes the trends by region, building type and energy service. The second chapter discusses China’s policies to promote green buildings. China began developing building energy codes in the 1980s. Over time, the central government has increased the stringency of the code requirements and the extent of enforcement. The codes are mandatory in all new buildings and major renovations in China’s cities, and they have been a driving force behind the expansion of China’s markets for insulation, efficient windows, and other green building materials. China also has several other important policies to encourage efficient buildings, including the Three-Star Rating System (somewhat akin to LEED), financial incentives tied to efficiency, appliance standards, a phasing out of incandescent bulbs and promotion of efficient lighting, and several policies to encourage retrofits in existing buildings. In the third chapter, we take “deep dives” into the trends affecting key building components

  20. International Energy Market

    International Nuclear Information System (INIS)

    Doringoni, S.; Pontoni, F.

    2008-01-01

    The paper analyzes recent market trends in the oil and natural gas sector. For the latter, a focus on the European gas market is then presented, whose consumption has grown considerably in these last ten years. As for the oil sector this paper investigates the key elements that have shaped its market in these years. As for oil consumption, we show that in these last 15 years China, India and the Middle East are the main responsible for the increase in World consumption. On the other hand, European OECD Countries have consistently reduced (almost 9%) their oil demand. This is due both to the dematerialization of their economy and their significant improvements in energy efficiency. As for energy intensity, in fact, Europe by far is the most efficient region in the World. On the other hand, OPEC has drastically raised its share of total production: at present the cartel accounts for more than 40% of overall production. OPEC members were the only producers to meet World's needs as oil demand expanded. The difficulties of other producers to keep up with the demand originated in the nineties, when no investment in new production capacity was brought about due to low oil prices. In the end of 2008, anyway, recession has eased the situation: for the first time in fifteen years, demand has not grown, compared to 2007 consumption. Recession has also shrunk prices, which, as soon as the demand started decreasing, have collapsed by almost 70%. As for the gas sector, the paper focuses on the European market where, after ten years from the beginning of the liberalization process, competition is still missing. In particular, the paper discusses whether LNG can bring about the competition so desperately needed. Unlike investments in pipelines, those in the LNG chain present a much lower degree of specificity, since the importer is not physically tied with the producer; moreover, it is getting increasingly common that part of the plant capacity is made available for spot

  1. Changing market for renewable energy in New England

    Energy Technology Data Exchange (ETDEWEB)

    Jacobs, M. [Second Wind Inc., Austin, TX (United States)

    1997-12-31

    The author discusses the rapidly changing power market in New England in the face of deregulation of the electric power industry. Utilities are moving to sell their generation assets, and the new players in the market are striving to present themselves as active in a green market. But there is little knowledge about renewable energy sources on the part of the new marketers, and little capacity available, while there does appear to be customer demand. Legislative action seems to be putting in place policies making renewable energy a more attractive option. The author looks at the disparity between demand and availability at this time.

  2. Models for electricity market efficiency and bidding strategy analysis

    Science.gov (United States)

    Niu, Hui

    This dissertation studies models for the analysis of market efficiency and bidding behaviors of market participants in electricity markets. Simulation models are developed to estimate how transmission and operational constraints affect the competitive benchmark and market prices based on submitted bids. This research contributes to the literature in three aspects. First, transmission and operational constraints, which have been neglected in most empirical literature, are considered in the competitive benchmark estimation model. Second, the effects of operational and transmission constraints on market prices are estimated through two models based on the submitted bids of market participants. Third, these models are applied to analyze the efficiency of the Electric Reliability Council Of Texas (ERCOT) real-time energy market by simulating its operations for the time period from January 2002 to April 2003. The characteristics and available information for the ERCOT market are considered. In electricity markets, electric firms compete through both spot market bidding and bilateral contract trading. A linear asymmetric supply function equilibrium (SFE) model with transmission constraints is proposed in this dissertation to analyze the bidding strategies with forward contracts. The research contributes to the literature in several aspects. First, we combine forward contracts, transmission constraints, and multi-period strategy (an obligation for firms to bid consistently over an extended time horizon such as a day or an hour) into the linear asymmetric supply function equilibrium framework. As an ex-ante model, it can provide qualitative insights into firms' behaviors. Second, the bidding strategies related to Transmission Congestion Rights (TCRs) are discussed by interpreting TCRs as linear combination of forwards. Third, the model is a general one in the sense that there is no limitation on the number of firms and scale of the transmission network, which can have

  3. 78 FR 4842 - Linden VFT, LLC v. Brookfield Energy Marketing, LP, Cargill Power Markets, LLC; Notice of Complaint

    Science.gov (United States)

    2013-01-23

    ... v. Brookfield Energy Marketing, LP, Cargill Power Markets, LLC; Notice of Complaint Take notice that... Brookfield Energy Marketing, LP and Cargill Power Markets, LLC (Respondents) alleging that, Respondents... subscribed docket(s). For assistance with any FERC Online service, please email [email protected

  4. Direct Energy Marketing Ltd. 1998 annual report

    International Nuclear Information System (INIS)

    1999-01-01

    A corporate profile of Direct Energy Marketing Ltd. was presented for the benefit of shareholders. Direct Energy is responsible for marketing and distributing natural gas to residential, commercial and industrial customers. The company owns physical natural gas reserves that serve as a supply hedge to its growing customer base. The highlights for the natural gas distribution income fund (OPTUS) for 1998 were described. OPTUS acquired WestCastle Energy, adding 38 mmcf/d of natural gas supply. It also amalgamated Channel Lake Petroleum and WestCastle Energy into Direct Energy and created the production division, Direct Energy Resources. It also formed Energy America with Sempra Energy, adding over 160,000 retail customers in Michigan and Ohio. Direct Energy's consolidated financial statements were presented for the benefit of shareholders. These included statements of earnings and deficit, balance sheets, and statements of changes in financial position. Notes to the consolidated financial statements included highlights of significant accounting policies, changes in accounting policies, acquisitions, discontinued operations, and capital assets. tabs., figs

  5. Implementation of the Third Energy Package and Renewable Energy Sources on Croatian Liberalised Market

    International Nuclear Information System (INIS)

    Toljan, I.

    2016-01-01

    The Croatian Third Energy Package was adopted in 2012 and its implementation in the previous period until today has accelerated changes in all areas of Croatian energy sector. The content of The EU's Third Energy Package was made in two directives and three regulations. Directives are implemented into national legislation of EU Member States (they choose the methods). Regulations are implemented directly in the entire EU. The main goal is to establish a unique electricity and gas market with market prices (or lower) and high safety and public service standards. Croatia began with incentives for generation from renewable energy sources in 2004 and by the end of this year, the first contract in that system (wind power plant Ravne on Pag island) will end. The question that presents itself is where and how will the owner sell electricity from now on. Current market suppliers as well as the new organisation in Croatian energy sector, Croatian Power Exchange, are both realistic options. Balancing market led by Croatian TSO is becoming bigger and participates in the business because of the higher amount of installed power connected to the power grid (mostly wind power plants). Can Croatian Transmission Operator still guarantee safe operational planning as before (the last blackout happened 10 years ago)? The existing electricity and gas market design doesn't satisfy its participants any more so an adjustment to new facts of a free market is necessary (power exchange, no more stimulations for renewable sources). What changes should be made in legislation so that the free market can develop and be harmonised with the European market? Decarbonization and digitalisation are a base of European energy policy but they are still waiting for a wider and stronger application in Croatia, is the current legislation enough? With these analysis the paper contributes to the learnings about the implementation of The Third Energy Package in Croatia and a unique energy policy in the EU.(author).

  6. Conference on support mechanisms evolution and renewable energies integration in France and in Germany markets

    International Nuclear Information System (INIS)

    Praetorius, Barbara; Cruciani, Michel; Schwarz, Virginie; Nabe, Christian; Mayer, Joerg; Vogel, Wolfram; Abegg, Janosch; Lioret, Sonia; Avedissian, Franck; Cosse, Julien; Woodhouse, Stephen; Bradbury, Simon; Mollard, Matthieu; Solal, Lucie; Nodari, Antonio

    2015-01-01

    The French-German office for Renewable energies (OFAEnR) organised a conference on the support mechanisms evolution and the renewable energies integration in France and in Germany markets. In the framework of this French-German exchange of experience, participants exchanged views on the current support mechanisms in both countries and on their forthcoming legal modifications. The legal framework of direct renewable energy selling in the German market and the impacts and challenges of this model were addressed as well. Technical aspects of auction sales of electricity were approached too and illustrated with experience feedbacks from direct selling operators. This document brings together the available presentations (slides) made during this event: 1 - Tenders for Renewable energy and the German Energiewende - Perspectives, challenges, debates (Barbara Praetorius); 2 - Promotion of energy from renewable sources - A short analysis of the French public policy 2000 -2014 (Michel Cruciani); 3 - Support schemes for renewables in France and their evolution as foreseen in the energy transition law (Virginie Schwarz); 4 - Direct electricity selling on the wholesale market: legal framework and perspective - a French-German comparison (Christian Nabe); 5 - Self-consumption and power purchase Business framework in Germany (Joerg Mayer); 6 - Successful Integration of Renewable energies in the Market: the Role of the Power exchange (Wolfram Vogel); 7 - Earn money and do good by marketing renewables (Janosch Abegg); 8 - Proposals for a new electricity market design (Sonia Lioret)

  7. Economy-Energy-Climate Interaction. The Model Wiagem

    International Nuclear Information System (INIS)

    Kemfert, C.

    2001-09-01

    This paper presents an integrated economy-energy-climate model WIAGEM (World Integrated Assessment General Equilibrium Model) which incorporates economic, energetic and climatic modules in an integrated assessment approach. In order to evaluate market and non-market costs and benefits of climate change WIAGEM combines an economic approach with a special focus on the international energy market and integrates climate interrelations by temperature changes and sea level variations. WIAGEM bases on 25 world regions which are aggregated to 11 trading regions and 14 sectors within each region. The representation of the economic relations is based on an intertemporal general equilibrium approach and contains the international markets for oil, coal and gas. The model incorporates all greenhouse gases (GHG) which influence the potential global temperature, the sea level variation and the assessed probable impacts in terms of costs and benefits of climate change. Market and non market damages are evaluated due to the damage costs approaches of Tol (2001). Additionally, this model includes net changes in GHG emissions from sources and removals by sinks resulting from land use change and forest activities. This paper describes the model structure in detail and outlines some general results, especially the impacts of climate change. As a result, climate change impacts do matter within the next 50 years, developing regions face high economic losses in terms of welfare and GDP losses. The inclusion of sinks and other GHG changes results significantly

  8. Modeling Dynamic Effects of the Marketing Mix on Market Shares

    NARCIS (Netherlands)

    D. Fok (Dennis); R. Paap (Richard); Ph.H.B.F. Franses (Philip Hans)

    2003-01-01

    textabstractTo comprehend the competitive structure of a market, it is important to understand the short-run and long-run effects of the marketing mix on market shares. A useful model to link market shares with marketing-mix variables, like price and promotion, is the market share attraction model.

  9. 2008 Federal Energy Management Program (FEMP) Market Report

    Energy Technology Data Exchange (ETDEWEB)

    Tremper, C.

    2009-07-01

    This report assesses the market for Federal Energy Management Program (FEMP) services as it existed in FY 2008. It discusses Federal energy management goal progress in FY 2008, and examines the environment in which agencies implemented energy management projects over the last three years. The report also discusses some recent events that will increase the market for FEMP services, and outlines FEMP's major strategies to address these changes in FY 2009 and beyond.

  10. Systems solutions for new market situations in the deregulated energy market

    International Nuclear Information System (INIS)

    Vouets, W.

    2001-01-01

    This extensive article presents a comprehensive overview of the various functions that are necessary for the efficient and secure operation of the electricity supply system in Switzerland within the framework of a deregulated electricity market. Both the physical and financial markets involved in the restructuring of the electricity market are examined in detail. The challenges placed on the parties involved in this process and the basic principles involved are discussed, including the generation, distribution and consumption of electricity and the control of production and demand. The mechanisms involved in this complex system are illustrated graphically and the requirements placed on an 'energy exchange' and its 'stockbrokers' are discussed from both the physical and financial points of view. Practical solutions are discussed and questions on topics in this area that are still to be answered are listed, including the availability of industrial solutions, support provided by information technology and grid-protection systems. Finally, the role of utilities that provide services both in the energy area (e.g. the supply of electricity, gas and water) as well as in the financial area (e.g. cost-calculation, wholesale and customer tariff aspects, profit optimisation and customer relations management) is discussed. The article is concluded with a summary of the situation and a look at the future of the energy market in Switzerland

  11. Marketing strategy - sales system for energy saving technology in the heat market

    Energy Technology Data Exchange (ETDEWEB)

    Dommann, D.

    1984-06-04

    Modern industrial society is undergoing a period of upheaval which is sparing no company. Today's greatest challenge to management is to get this transition under control. The process of change inevitably effects marketing policies and company employees. There are doubtlessly many viable marketing strategies available, but they are of little use if they cannot be applied in the market by qualified personnel. In this article the author gives suggestions for selling energy conserving technology in today's heat market using a systematic sales method.

  12. The French wind energy market by 2020. Market evolution and competition context within the sector. Analysis of business model and of financial performance of fleet operators

    International Nuclear Information System (INIS)

    2016-01-01

    As the French wind energy sector has been recovering a good dynamics since 2014, notably for onshore production whereas some uncertainties remain present for offshore production, this report aims at assessing market perspectives by 2020, and at identifying business opportunities for the different involved actors. The first part identifies some determining factors for the sector activity, proposes an analysis of the activity for the 2002-2015 period (installed power, electricity production, turnover, equipment manufacturers, operators) and its perspectives by 2020 (evolution of determining factors, installed power, market share evolution for manufacturers, opportunities and threats on the medium term). The second part discusses the main elements of the operators' business models, and analyses fleet managers' financial data. Structural drivers and brakes are then discussed, as well as the French, European and World context (installed power, installed offshore power, electricity production, energy policy, law for energy transition, commitment of public authorities in favour of wind energy, competitiveness of wind energy). Some highlights and aspects of offer evolution are outlined: development of offshore wind energy, diversification of operators, international development, takeovers and capital increase, new financing modes. The last parts propose an analysis of the economic structure of the sector in France (types of interveners, staff, location, machine power evolution) and an overview of the main actors. Identity sheets of the main operators and equipment manufacturers are provided, as well as economic and financial data of 200 operators which can be compared through 5 key indicators

  13. A mid-term, market-based power systems planning model

    International Nuclear Information System (INIS)

    Koltsaklis, Nikolaos E.; Dagoumas, Athanasios S.; Georgiadis, Michael C.; Papaioannou, George; Dikaiakos, Christos

    2016-01-01

    Highlights: • A mid-term Energy Planning along with a Unit Commitment model is developed. • The model identifies the optimum interconnection capacity. • Electricity interconnections affect the power mix and the day-ahead spot price. • Renewables’ penetration has impacts on the power reserves and the CO_2 emissions. • Energy policy and fuel pricing can have significant impacts on the power mix. - Abstract: This paper presents a generic Mixed Integer Linear Programming (MILP) model that integrates a Mid-term Energy Planning (MEP) model, which implements generation and transmission system planning at a yearly level, with a Unit Commitment (UC) model, which performs the simulation of the Day-Ahead Electricity Market. The applicability of the proposed model is illustrated in a case study of the Greek interconnected power system. The aim is to evaluate a critical project in the Ten Year Network Development Plan (TYNDP) of the Independent Power Transmission System Operator S.A. (ADMIE), namely the electric interconnection of the Crete Island with the mainland electric system. The proposed modeling framework identifies the implementation (or not) of the interconnection of the Crete Island with the mainland electric system, as well as the optimum interconnection capacity. It also quantifies the effects on the Day-Ahead electricity market and on the energy mix. The paper demonstrates that the model can provide useful insights into the strategic and challenging decisions to be determined by investors and/or policy makers at a national and/or regional level, by providing the optimal energy roadmap and management, as well as clear price signals on critical energy projects under real operating and design constraints.

  14. Some models for electric power price clearing in liberalized market area

    International Nuclear Information System (INIS)

    Chogelja, Goran; Pavlov, Risto

    2001-01-01

    This paper presents some of the basic models for electrical energy price clearing in liberalized market area and competition on level of consumption and level of production. As an example the Amsterdam power exchange APX (spot market) is given and some of another types of markets and methodology for pricing are presented. In detal 'clearing pricing mechanism in day athead market' from the Amsterdam power exchange is presented as well as the methodology for market balancing and financial clearing. (Original)

  15. Market Potential for Non-electric Applications of Nuclear Energy

    International Nuclear Information System (INIS)

    Konishi, T.; Kononov, S.; Kupitz, J.; McDonald, A.; Rogner, H.H.; Nisan, S.

    2002-01-01

    The paper presents results of a recent IAEA study to assess the market potential for non-electric applications of nuclear energy in the near (before 2020) and long term (2020-2050). The applications covered are district heating, desalination, industrial heat supply, ship propulsion, energy supply for spacecraft, and, to a lesser extent, 'innovative' applications such as hydrogen production, coal gasification, etc. While technical details are covered only briefly, emphasis is placed on economics and other factors that may promote or hinder the penetration of nuclear options in the markets for non-electric energy services. The study makes a distinction between the market size (demand for a given service) and the market potential for nuclear penetration (which may be smaller because of technical or non-technical constraints). Near-term nuclear prospects are assessed on the basis of on-going projects in the final stages of design or under construction. For the long term, use has been made of a qualitative scale ranging from 0 to 2 for five critical areas: market structure, demand pressure, technical basis, economic competitiveness, and public acceptance. The paper presents the resulting evaluation of long-term prospects for nuclear energy entering into non-electric markets. (authors)

  16. Early experience in centralized real time energy market

    International Nuclear Information System (INIS)

    Alaywan, Z.; Hernandez, L.; Martin, M.

    2005-01-01

    The current structure of the California Independent System Operator (ISO) was described. The study provided an outline of California's transition from a decentralized pool operation to a forward bilateral market through the implementation of a centralized real time market. Details of the institutional, economic and technological history of the power system were provided. Although the California real time market was implemented in order to simplify the power system, a number of operational challenges were observed. Discontinuities in the energy curve resulted in the implementation of a target price process, which aimed to resolve the overlap in energy bids. The design of the ISO's real time market did not provide a mechanism for bidders to execute real time energy trades. Regulation bidders also internalized energy in their regulation capacity bids. The real time market application (RTMA) provided the ISO with a substantial computer program to determine and account for nearly all aspects of generation unit scheduling and physical characteristics with a multiple ramp rate. The program combined optimal power flow (OPF) logic for energy flows in addition to mixed-integer nonlinear optimization of trading schedules, and system and security constraints. The RTMA used a multi-period security constrained economic dispatch (SCED) function to optimize energy dispatch schedules. Other features of the RTMA included security constrained unit commitment, security constrained economic dispatch, and dispatch schedule post processes. It was concluded that implementation of the RTMA has increased the efficiency of the ISO. A case study of the RTMA during an outage in November 2004 was provided. 5 refs., 1 tab., 2 figs

  17. Energy market and investment - political economy of supply security in the market of energy

    International Nuclear Information System (INIS)

    Leban, R.

    2005-01-01

    A market structure that appears to be adapted to achieving a supply security purpose in the sectors of oil power and gas, is an organisation where upstream energy markets include industrial players of adequate sizes involved downstream and where futures exchanges prevail at prices translating anticipations on 'basics' since spot markets are more of adjustment markets. Policy weighs hugely on those markets. The extra competition lately instilled in the electrical and gas markets in developed countries results in no decrease, as complicated exchange rules need to be thought up and the market power needs to be monitored. Political intervention is also carried out in the name of environmental policies, in a strong interaction with the operation of the said markets and therefore with a not insignificant risk of disruption. The oil market is a highly political one, since the key to exchanges, i.e. access to primary resources, is played between producing countries and huge oil and gas companies close to consuming countries. There is a strong temptation in the electrical sector, to add security policies in order to prevail over the market. Gas, which is oil upstream and electrical downstream, requires, in consuming countries, a delicate balance of policies to support operators as buyers and to control the same operators as players of the gas- gas competition. The prognosis on the market's ability to provide safe supply efficiently to citizens if security policies are implemented is rather good in areas where demand is moderately growing and networks are developed. It is however not as good in areas where there are high needs for production and transport investments, i.e. in countries that are developing now, and will be...in Europe soon. (author)

  18. The market for tradable renewable energy credits

    International Nuclear Information System (INIS)

    Berry, David

    2002-01-01

    As states seek to foster the development of renewable energy resources, some have introduced renewable portfolio standards (RPSs) which require retailers of electricity to derive a specified amount of their energy supply from renewable energy resources. RPSs in Texas, Arizona, Wisconsin and Nevada allow for or require the use of tradable renewable energy credits. The price of such credits is expected to reflect the cost premium for generating electricity from renewable resources relative to the market price of conventionally generated electricity. Using the market to trade renewable energy credits exposes buyers and sellers to risks of imperfect information, poor performance, and opportunism. These risks can be managed through contractual arrangements and regulatory requirements pertaining to property rights in credits, pricing, term of the contract, and assurance of performance

  19. Cuba's transition to market-based energy prices

    International Nuclear Information System (INIS)

    Perez-Lopez, J.F.

    1992-01-01

    Since 1960 the Soviet Union has been, for all practical purposes, Cuba's exclusive supplier of energy products. For certain time periods, Soviet sales of oil and oil products to Cuba were made at concessional prices; prior to 1991, they were priced using transferable rubles and were essentially bartered for Cuban goods, especially sugar. Effective January 1, 1991, the Soviet Union shifted to world market prices and convertible currency payments for all traded commodities, including energy products. The shift to market prices and convertible currencies in Cuban-Soviet energy trade has already brought - or is likely to bring - a number of adjustments in four areas: (1) the trade balance; (2) the ability to reexport oil and oil products; (3) energy consumption patterns; (4) and the structure of energy supplies. 33 refs., 8 tabs

  20. Gradual reforms and the emergence of energy market in China: Evidence from tests for convergence of energy prices

    International Nuclear Information System (INIS)

    Ma Hengyun; Oxley, Les; Gibson, John

    2009-01-01

    This study investigates the emergence of energy markets by testing for convergence of energy prices with a new dataset on energy spot prices in 35 major cities in China. Both descriptive statistics and unit root are employed to test the convergence of energy prices for each of four fuel price series. The whole study period is divided into two sub-periods in order to reconcile the gradual energy reforms. The results show the steady improvement in energy market performance in China, especially during the second sub-period, which suggests that the market appears to be playing an increasing role in determining energy prices. While panel unit root tests show energy markets are integrated in China as a whole, city-by-city univariate unit root tests suggest that there are still many regional energy markets, probably because energy reserves (especially coal) vary widely across regions. Since China's energy economy is gradually moving towards market-oriented mechanisms, the existing literature may become obsolete soon.

  1. Towards an E-market Model

    DEFF Research Database (Denmark)

    Ivang, Reimer; Hinson, Robert; Somasundaram, Ramanathan

    2006-01-01

    on the literature survey and ídentification of gaps in the present e-market definitive models, the authors postulate a preliminary e-market reference model. Originality/ Value: Through synthesizing the e-market literature, and by taking into account contemporary e-market developments, key dimensions that define......Purpose: Seeks to argue that there are problems associated with e-market definitive efforts and consequently seeks proposes a new e-market model. Design/methodology/Approach: Paper based largely on literature survey and an assessment of the existing e-market conceptualizations. Findings: Based...

  2. Commercial Building Energy Asset Rating Program -- Market Research

    Energy Technology Data Exchange (ETDEWEB)

    McCabe, Molly J.; Wang, Na

    2012-04-19

    Under contract to Pacific Northwest National Laboratory, HaydenTanner, LLC conducted an in-depth analysis of the potential market value of a commercial building energy asset rating program for the U.S. Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy. The market research objectives were to: (1) Evaluate market interest and need for a program and tool to offer asset rating and rapidly identify potential energy efficiency measures for the commercial building sector. (2) Identify key input variables and asset rating outputs that would facilitate increased investment in energy efficiency. (3) Assess best practices and lessons learned from existing national and international energy rating programs. (4) Identify core messaging to motivate owners, investors, financiers, and others in the real estate sector to adopt a voluntary asset rating program and, as a consequence, deploy high-performance strategies and technologies across new and existing buildings. (5) Identify leverage factors and incentives that facilitate increased investment in these buildings. To meet these objectives, work consisted of a review of the relevant literature, examination of existing and emergent asset and operational rating systems, interviews with industry stakeholders, and an evaluation of the value implication of an asset label on asset valuation. This report documents the analysis methodology and findings, conclusion, and recommendations. Its intent is to support and inform the DOE Office of Energy Efficiency and Renewable Energy on the market need and potential value impacts of an asset labeling and diagnostic tool to encourage high-performance new buildings and building efficiency retrofit projects.

  3. The regulated energy economy versus the free energy market - The West German experience

    International Nuclear Information System (INIS)

    Liesen, K.; Schwarz, H.O.

    1989-09-01

    The overall good performance of the West German energy industry in terms of energy policy objectives such as security of supplies, competitiveness, efficient use of energy and environmental protection, is attributable to an energy policy based on the principles of the market economy and steady application of these same principles. Today, though, a debate, at times controversial, on whether more market influence or more government intervention is required is underway in West Germany; in view of the successes of energy policy and the balance struck between free enterprise and the government in the past, this debate has met with little understanding in some quarters. It is generally agreed, though, that the quality of the challenges energy policy and the energy industry in West Germany will confront in the future will remain essentially unchanged. West German energy policy will have to deal with: reestablishing a consensus on coal and nuclear power policy; achieving a high standard of environmental protection in the European Communities, and strengthening the position of the energy industry as efforts are made to get moves underway to create a single European market for energy underway. No fundamental change in the course of energy policy in the Federal Republic of Germany is needed to solve current energy policy issues or to preserve the underlying goals of this policy. An energy policy which continues to give priority where possible to market mechanisms as a means of adjustment and provides energy suppliers and users with a stable and reliable framework in which to operate, offers the best promise for meeting the challenges of the future. (author). 2 figs

  4. Energy Collectives: a Community and Fairness based Approach to Future Electricity Markets

    DEFF Research Database (Denmark)

    Moret, Fabio; Pinson, Pierre

    2018-01-01

    for the community reflects prosumers' preferences. We show that community members can be influenced by a supervisory third-party in charge of interfacing with the market and system operator and of guaranteeing the collective common agreements. We simulate a number of test cases and we apply typical principles from......While power system organization has evolved from a hierarchical structure to a more decentralized model, electricity markets are still not up to date with the ongoing transformation towards more consumer-centric economies. As Information and Communication Technologies (ICT) are broadly adopted......, they allow prosumers to have a more proactive role in power system operation. This work introduces the concept of energy collectives, as a community-based electricity market structure. We find that when prosumers are allowed to share energy at community level, overall electricity procurement...

  5. A unifying energy-based approach to stability of power grids with market dynamics

    NARCIS (Netherlands)

    Stegink, Tjerk; De Persis, Claudio; van der Schaft, Arjan

    2017-01-01

    In this paper a unifying energy-based approach is provided to the modeling and stability analysis of power systems coupled with market dynamics. We consider a standard model of the power network with a third-order model for the synchronous generators involving voltage dynamics. By applying the

  6. Energy Technology and Market Risk Reduction | Integrated Energy Solutions |

    Science.gov (United States)

    renewable energy projects, including: Debt financing and structures that use cash flows generated by your ; project costs; and evolving regulatory, permitting, and retail markets through activities such as

  7. TRADING ACTIVITY AND PRICES IN ENERGY FUTURES MARKET

    Directory of Open Access Journals (Sweden)

    Aysegul Ates

    2016-04-01

    Full Text Available This paper aims to examine trading activity and the relationship between futures trading activity by trader type and energy price movements in three energy futures markets –natural gas, crude oil and heating oil. We find that the level of net positions of speculators are positively related to future returns and in contrast net positions of hedgers are negatively related to futures price changes in all three markets. The changes in net positions are relatively more informative compare to the level of net positions in predicting price changes in related markets.

  8. UK market for waste-to-energy

    International Nuclear Information System (INIS)

    Arthur, D.

    1993-01-01

    In this paper four key questions relating to the UK market for waste-to-energy have been addressed. (1) What has happened in the market place over the last 20 years? (2) What are the driving forces behind the recent upsurge of interest? (3) What are the problems currently facing us? (4) What is the outlook likely to be for the future? (author)

  9. Characteristics of the Romanian energy market

    Science.gov (United States)

    Stet, M.

    2017-05-01

    This paper highlights the main characteristics of the energy market in Romania. Starting from the mode of organization and operation of the electricity market, there are revealed prices and tariffs for electricity for different categories of customers and their evolution in time. There are pointed also ways of setting electricity prices and tariffs, taking into account the expenditures actually recorded by economic operators.

  10. Modeling primary energy substitution in the Asia Pacific

    International Nuclear Information System (INIS)

    Aguilera, Roberto F.; Ripple, Ronald D.

    2013-01-01

    Highlights: • We model the market shares (i.e. energy mix) of gases, liquids and solids in the Asia Pacific. • The model matches the historical energy mix and projects three scenarios of the future mix to 2030. • We then model the past and future hydrogen to carbon ratio (a proxy for environmental quality). • Importance of natural gas in the region could increase significantly, depending on policy and tech progress. - Abstract: A Global Energy Market model (GEM) is used to analyze the market shares (i.e. the primary energy mix) of gases, liquids and solids in the Asia Pacific. The model is successful in matching the historical energy mix from 1850 to 2009. The model also provides a good match of the hydrogen to carbon ratio, which is a proxy for environmental quality. Given these validations, the GEM is then used to present scenarios of the Asia Pacific energy mix and hydrogen to carbon ratio until the year 2030. Three energy mix scenarios are presented – reference case; alternative case 1; alternative case 2. The reference case assumes limited divergence from current policies and technologies. It indicates that Asia Pacific energy needs will be met by approximately 46% solids, 34% liquids, and 20% gases by 2030. Alternative cases 1 and 2 represent policies and technologies that either encourage or discourage the use of gases. The good matches observed for historical data suggest the GEM can be used cautiously for evaluating outcomes and opportunities in the region. Although the model can be used for projecting far into the future, it is currently calibrated to what we consider a reasonable time horizon – until the year 2030. Given appropriate energy policies and sufficient technological advancement, the importance of natural gas in the region could increase significantly

  11. Sustainable resource planning in energy markets

    International Nuclear Information System (INIS)

    Kamalinia, Saeed; Shahidehpour, Mohammad; Wu, Lei

    2014-01-01

    Highlights: • Sustainable resource planning with the consideration of expected transmission network expansion. • Incomplete information non-cooperative game-theoretic method for GEP. • Maximizing utility value whiling considering merits of having various generation portfolios. • Minimizing risk of investment using renewable generation options. • Application of the stochastic approach for evaluating the unpredictability of opponent payoffs and commodity values. - Abstract: This study investigates the role of sustainable energy volatility in a market participant’s competitive expansion planning problem. The incomplete information non-cooperative game-theoretic method is utilized in which each generation company (GENCO) perceives strategies of other market participants in order to make a decision on its strategic generation capacity expansion. Sustainable generation incentives, carbon emission penalties, and fuel price forecast errors are considered in the strategic decisions. The market clearing process for energy and reserves is simulated by each GENCO for deriving generation expansion decisions. A merit criterion (i.e., the utility value) is proposed for a more realistic calculation of the expected payoff of a GENCO with sustainable energy resources. Finally, the impact of transmission constraints is investigated on the GENCO’s expansion planning decision. The case studies illustrate the effectiveness of the proposed method

  12. An Active Role of Citizens on the Energy Market

    International Nuclear Information System (INIS)

    Skrlec, D.

    2016-01-01

    In order to fulfil climate and energy goals that EU has set for the period until 2030 and also after 2050, an engagement of the entire society is necessary. The energy sector is entering a transition towards a so called 4D model: decarbonization, decentralisation, distribution and democratisation. Citizens' engagement and responsibility in this transition requires active consumption management, energy generation and application of energy efficiency measures. To be competitive on the energy market, various forms of collective citizen collaborations are needed and to encourage people to participate in those, they have to be further educated so that the energy sector transition can succeed. The expected road transportation electrification posts further challenges on the energy sector. Horizontal connection of more EU policies, climate-energy, circular economy, digital agenda shows that a holistic approach is needed for the transition into a new, resource and energy more efficient, society.(author).

  13. Model-based investigation of the electricity market. Unit commitment and power plant investments

    International Nuclear Information System (INIS)

    Sun, Ninghong

    2013-01-01

    The German Federal Government published its energy concept in September 2010 with a description of the road into the era of renewable energies. Therefore, the future renewable energy installed in Germany is expected to consist mostly of wind and solar, which are subject to intermittency of supply and significant fluctuations. The growing portion of energy generation by fluctuating sources is turning to a big challenge for the power plant unit commitment and the investment decisions as well. In this thesis, a fundamental electricity market model with combined modeling of these two aspects is developed. This model is subsequently applied to the German electricity market to investigate what kind of power plant investments are indispensable, considering the steadily increasing portion of energy generation from fluctuating sources, to ensure a reliable energy supply in a cost-effective way in the future. In addition, current energy policy in Germany regarding the use of renewable energy and nuclear energy is analyzed.

  14. Renewable energy promotion in competitive electricity markets

    International Nuclear Information System (INIS)

    Wohlgemuth, Norbert

    1999-01-01

    The opening of electricity markets to competition involves fundamental structural changes in the electricity supply industry. There is, however, doubt that the new industrial organisation will provide the right price signals that will ensure that renewable energy options will be adopted. Therefore, one of the numerous challenges in the energy industry restructuring process is to ensure that renewable energy has a fair opportunity to compete with other supply resources. This paper presents mechanisms to promote the use of renewable energy in competitive electricity markets. These mechanisms include the Non Fossil Fuel Obligation (NFFO), the Renewables Portfolio Standard (RPS) and the Systems Benefit Charge (SBC). The paper discusses merits and disadvantages of these mechanisms, given the experience made in the United States and the United Kingdom. (author)

  15. Breezing ahead: the Spanish wind energy market

    International Nuclear Information System (INIS)

    Avia Aranda, Felix; Cruz, I.C.

    2000-01-01

    This article traces the rapid increase in Spain's wind generating capacity, and examines Spain's wind strategy, the assessment of wind power potential at regional level, and the guaranteeing of the market price for power generators using wind energy with yearly reviews of the price of electricity from wind power. Prices payable for electricity generated from renewable sources are listed, and the regional distribution of wind energy production is illustrated. Recent wind power installations in Spain, target levels for wind energy installations, wind farms larger than 1MW installed in 1999, and the impact of the growth of the wind energy market on the manufacturing industry and the manufacturers are discussed. Details of the wind energy capacity in the provinces of Navarra and Galicia are given, and plans for wind energy projects in the New National Plan for Scientific research, Development and Technological innovation (2000-2003) are considered

  16. Liberalization of electricity markets and energy security

    International Nuclear Information System (INIS)

    Yajima, Masayuki

    2004-01-01

    Liberalization of electricity markets begun in England in 1990 and became the trends of the times. Its effects on the energy security and atomic power generation are discussed. On the effects on energy security, change of construction of fuel of power generation, decrease of fuel feed by high efficiency of power generation, decrease of fuel stock by pressure of cost-cutting, increase of import rate of electricity, increase of power consumption with decrease of power cost, flexibility of supply contract, diversification of service, international cooperation on energy security and mutual dependence relation by international investment are discussed. On the effects of liberalization on the electricity markets, characteristics of nuclear power generation, risk of investment, effects of introduction of competition on development of the existing and new nuclear power generation, relation between development of nuclear power generation and market failure and what the government should do for development of nuclear power generation are discussed. (S.Y.)

  17. Model documentation renewable fuels module of the National Energy Modeling System

    Science.gov (United States)

    1995-06-01

    This report documents the objectives, analytical approach, and design of the National Energy Modeling System (NEMS) Renewable Fuels Module (RFM) as it relates to the production of the 1995 Annual Energy Outlook (AEO95) forecasts. The report catalogs and describes modeling assumptions, computational methodologies, data inputs, and parameter estimation techniques. A number of offline analyses used in lieu of RFM modeling components are also described. The RFM consists of six analytical submodules that represent each of the major renewable energy resources -- wood, municipal solid waste (MSW), solar energy, wind energy, geothermal energy, and alcohol fuels. The RFM also reads in hydroelectric facility capacities and capacity factors from a data file for use by the NEMS Electricity Market Module (EMM). The purpose of the RFM is to define the technological, cost, and resource size characteristics of renewable energy technologies. These characteristics are used to compute a levelized cost to be competed against other similarly derived costs from other energy sources and technologies. The competition of these energy sources over the NEMS time horizon determines the market penetration of these renewable energy technologies. The characteristics include available energy capacity, capital costs, fixed operating costs, variable operating costs, capacity factor, heat rate, construction lead time, and fuel product price.

  18. Model documentation renewable fuels module of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-06-01

    This report documents the objectives, analytical approach, and design of the National Energy Modeling System (NEMS) Renewable Fuels Module (RFM) as it relates to the production of the 1995 Annual Energy Outlook (AEO95) forecasts. The report catalogues and describes modeling assumptions, computational methodologies, data inputs, and parameter estimation techniques. A number of offline analyses used in lieu of RFM modeling components are also described. The RFM consists of six analytical submodules that represent each of the major renewable energy resources--wood, municipal solid waste (MSW), solar energy, wind energy, geothermal energy, and alcohol fuels. The RFM also reads in hydroelectric facility capacities and capacity factors from a data file for use by the NEMS Electricity Market Module (EMM). The purpose of the RFM is to define the technological, cost and resource size characteristics of renewable energy technologies. These characteristics are used to compute a levelized cost to be competed against other similarly derived costs from other energy sources and technologies. The competition of these energy sources over the NEMS time horizon determines the market penetration of these renewable energy technologies. The characteristics include available energy capacity, capital costs, fixed operating costs, variable operating costs, capacity factor, heat rate, construction lead time, and fuel product price.

  19. Exposure and perceptions of marketing for caffeinated energy drinks among young Canadians.

    Science.gov (United States)

    Hammond, David; Reid, Jessica L

    2018-02-01

    To examine exposure to energy drink marketing among youth and young adults, and test perceptions of energy drink advertisements (ads) regarding target audience age and promoting energy drink use during sports. A between-group experiment randomly assigned respondents to view one of four energy drink ads (sport-themed or control) and assessed perceptions of the ad. Regression models examined marketing exposure and perceptions. Online survey (2014). Canadians aged 12-24 years (n 2040) from a commercial panel. Overall, 83 % reported ever seeing energy drink ads through at least one channel, including on television (60 %), posters/signs in stores (49 %) and online (44 %). Across experimental conditions, most respondents (70·1 %) thought the ad they viewed targeted people their age or younger, including 42·2 % of those aged 12-14 years. Two sport-themed ads were more likely to be perceived as targeting a younger audience (adjusted OR (95 % CI): 'X Games' 36·5 %, 4·16 (3·00, 5·77); 'snowboard' 19·2 %, 1·50 (1·06, 2·13)) v. control (13·3 %). Participants were more likely to believe an ad promoted energy drink use during sports if they viewed any sport-themed ad ('X Games' 69·9 %, 8·29 (6·24, 11·02); 'snowboard' 76·7 %, 11·85 (8·82, 15·92); 'gym' 66·8 %, 7·29 (5·52, 9·64)) v. control (22·0 %). Greater reported exposure to energy drink marketing was associated with perceiving study ads as promoting energy drink use during sports. Energy drink marketing has a high reach among young people. Ads for energy drinks were perceived as targeting youth and promoting use during sports. Such ads may be perceived as making physical performance claims, counter to Canadian regulations.

  20. Exposure to digital marketing enhances young adults' interest in energy drinks: An exploratory investigation.

    Science.gov (United States)

    Buchanan, Limin; Kelly, Bridget; Yeatman, Heather

    2017-01-01

    Young adults experience faster weight gain and consume more unhealthy food than any other age groups. The impact of online food marketing on "digital native" young adults is unclear. This study examined the effects of online marketing on young adults' consumption behaviours, using energy drinks as a case example. The elaboration likelihood model of persuasion was used as the theoretical basis. A pre-test post-test experimental research design was adopted using mixed-methods. Participants (aged 18-24) were randomly assigned to control or experimental groups (N = 30 each). Experimental group participants' attitudes towards and intended purchase and consumption of energy drinks were examined via surveys and semi-structured interviews after their exposure to two popular energy drink brands' websites and social media sites (exposure time 8 minutes). Exposure to digital marketing contents of energy drinks improved the experimental group participants' attitudes towards and purchase and consumption intention of energy drinks. This study indicates the influential power of unhealthy online marketing on cognitively mature young adults. This study draws public health attentions to young adults, who to date have been less of a focus of researchers but are influenced by online food advertising.

  1. Exposure to digital marketing enhances young adults’ interest in energy drinks: An exploratory investigation

    Science.gov (United States)

    Buchanan, Limin; Kelly, Bridget; Yeatman, Heather

    2017-01-01

    Young adults experience faster weight gain and consume more unhealthy food than any other age groups. The impact of online food marketing on “digital native” young adults is unclear. This study examined the effects of online marketing on young adults’ consumption behaviours, using energy drinks as a case example. The elaboration likelihood model of persuasion was used as the theoretical basis. A pre-test post-test experimental research design was adopted using mixed-methods. Participants (aged 18–24) were randomly assigned to control or experimental groups (N = 30 each). Experimental group participants’ attitudes towards and intended purchase and consumption of energy drinks were examined via surveys and semi-structured interviews after their exposure to two popular energy drink brands’ websites and social media sites (exposure time 8 minutes). Exposure to digital marketing contents of energy drinks improved the experimental group participants’ attitudes towards and purchase and consumption intention of energy drinks. This study indicates the influential power of unhealthy online marketing on cognitively mature young adults. This study draws public health attentions to young adults, who to date have been less of a focus of researchers but are influenced by online food advertising. PMID:28152016

  2. Introduction to energy storage with market analysis and outlook

    International Nuclear Information System (INIS)

    Schmid, Robert; Pillot, Christophe

    2014-01-01

    At first, the rechargeable battery market in 2012 will be described by technology - lead acid, NiCd, NiMH, lithium ion - and application - portable electronics, power tools, e-bikes, automotive, energy storage. This will be followed by details of the lithium ion battery market value chain from the raw material to the final application. The lithium ion battery market of 2012 will be analyzed and split by applications, form factors and suppliers. There is also a focus on the cathode, anode, electrolyte and separator market included. This report will also give a forecast for the main trends and the market in 2020, 2025. To conclude, a forecast for the rechargeable battery market by application for 2025 will be presented. Since energy storage plays an important role for the growing Electric Vehicle (EV) market, this EV issue is closely considered throughout this analysis

  3. Introduction to energy storage with market analysis and outlook

    Energy Technology Data Exchange (ETDEWEB)

    Schmid, Robert [Institut für Experimentelle Physik, Technische Universität Bergakademie Freiberg, Leipziger Straße 23, 09596 Freiberg (Germany); Pillot, Christophe [AVICENNE Energy, LITWIN Building, 10 rue Jean-Jaurès, La Défense 11, Puteaux Cedex (France)

    2014-06-16

    At first, the rechargeable battery market in 2012 will be described by technology - lead acid, NiCd, NiMH, lithium ion - and application - portable electronics, power tools, e-bikes, automotive, energy storage. This will be followed by details of the lithium ion battery market value chain from the raw material to the final application. The lithium ion battery market of 2012 will be analyzed and split by applications, form factors and suppliers. There is also a focus on the cathode, anode, electrolyte and separator market included. This report will also give a forecast for the main trends and the market in 2020, 2025. To conclude, a forecast for the rechargeable battery market by application for 2025 will be presented. Since energy storage plays an important role for the growing Electric Vehicle (EV) market, this EV issue is closely considered throughout this analysis.

  4. Introduction to energy storage with market analysis and outlook

    Science.gov (United States)

    Schmid, Robert; Pillot, Christophe

    2014-06-01

    At first, the rechargeable battery market in 2012 will be described by technology - lead acid, NiCd, NiMH, lithium ion - and application - portable electronics, power tools, e-bikes, automotive, energy storage. This will be followed by details of the lithium ion battery market value chain from the raw material to the final application. The lithium ion battery market of 2012 will be analyzed and split by applications, form factors and suppliers. There is also a focus on the cathode, anode, electrolyte and separator market included. This report will also give a forecast for the main trends and the market in 2020, 2025. To conclude, a forecast for the rechargeable battery market by application for 2025 will be presented. Since energy storage plays an important role for the growing Electric Vehicle (EV) market, this EV issue is closely considered throughout this analysis.

  5. Energy technology R&D portfolio management: Modeling uncertain returns and market diffusion

    International Nuclear Information System (INIS)

    Bistline, John E.

    2016-01-01

    Highlights: • Analyzes energy R&D decisions with uncertainty in research outcomes and markets. • R&D is shown to be more valuable in second-best planning and policy environments. • Deterministic R&D approaches likely undervalue the optionality of technologies. - Abstract: The allocation of research and development (R&D) funds across a portfolio of programs must simultaneously consider uncertainty from research outcomes and from market acceptance of the resulting technologies. We introduce a stochastic R&D portfolio management framework for addressing both sources of uncertainty and present numerical results for energy technology R&D strategy under uncertainties in climate policy and natural gas prices. Numerical experiments indicate that R&D may be more valuable in second-best planning environments where decision-makers use expected-value approaches, and recourse investments occur after R&D has reduced costs. We also find that deterministic R&D valuation approaches likely overestimate the expected value of R&D success but undervalue the optionality and hedging potential of technologies relative to sequential decision-making approaches under uncertainty. The results also highlight the role of R&D in second-best policy environments.

  6. THE SPORT MARKETING MANAGEMENT MODEL

    Directory of Open Access Journals (Sweden)

    Alexandru Lucian MIHAI

    2015-06-01

    Full Text Available Sport marketing involves marketing fundamentals applied in one industry, the sport business industry. The development of sport marketing fundamentals is therefore based on basic marketing principles. The practice and activities of sport marketing are also based on basic marketing activities, but are modified and adapted to the sport business industry. Therefore, sport marketing is based on its primary and parent discipline - marketing. Sport marketing is one of the most important functions of a sport business. This is because the sport marketing activities will define the business. The growth of the sport industry is phenomenal and shows no signs of slowing. Also, sport marketing is a process. A process is a continuous cycle. Therefore, marketing is a function that never ends. The sport marketing management model is an illustration of the elements and process of sport marketing. It should serve as a guide for managing the company’s marketing functions. The model illustrates the elements of marketing, the succession of elements and functions, the process of managing, and the interdependence of the elements This paper presents an overview of the model, sport marketing management, each element and the process.

  7. Governance of the emerging bio-energy markets

    International Nuclear Information System (INIS)

    Verdonk, M.; Dieperink, C.; Faaij, A.P.C.

    2007-01-01

    Despite its promising prospects, a growing global bio-energy market may have sustainability risks as well. Governing this market with respect to installing safeguards to ensure sustainable biomass production might reduce these risks. Therefore, proposals for governance systems for bio-energy are discussed in this article. The proposals are based on comparative case study research on the governance of comparable commodities. By assessing the governance system of global coffee trade, fair trade coffee, the global and the EU sugar market and Forest Stewardship Council (FSC) wood, strong and weak points of governance systems for commodities are discerned. FSC is selected as the best performing case study and serves as the proposal's basis. FSC's weaknesses are minimized by, among others, using the lessons learned from the other case studies. This results in a system consisting of two pillars, a bio-energy labelling organization (BLO) and a United Nations Agreement on Bio-energy (UNAB). Although consulted experts in the research process are critical about this system they do suggest several conditions a governance system for bio-energy should meet in order to be effective, such as a facilitative government, professional monitoring and using progressive certification combined with price premiums. These conditions have been taken into account in the final proposal. (author)

  8. Governance of the emerging bio-energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Verdonk, M. [Department of Water and Energy, Grontmij Nederland BV, P.O. Box 203, 3730 AE, De Bilt (Netherlands); Dieperink, C. [Department of Innovation and Environmental Studies, Copernicus Institute for Sustainable Development and Innovation, Utrecht University, P.O. Box 80.115, 3508 TC, Utrecht (Netherlands); Faaij, A.P.C. [Department of Science, Technology and Society, Copernicus Institute for Sustainable Development and Innovation, Utrecht University, P.O. Box 80.115, 3508 TC, Utrecht (Netherlands)

    2007-07-15

    Despite its promising prospects, a growing global bio-energy market may have sustainability risks as well. Governing this market with respect to installing safeguards to ensure sustainable biomass production might reduce these risks. Therefore, proposals for governance systems for bio-energy are discussed in this article. The proposals are based on comparative case study research on the governance of comparable commodities. By assessing the governance system of global coffee trade, fair trade coffee, the global and the EU sugar market and Forest Stewardship Council (FSC) wood, strong and weak points of governance systems for commodities are discerned. FSC is selected as the best performing case study and serves as the proposal's basis. FSC's weaknesses are minimized by, among others, using the lessons learned from the other case studies. This results in a system consisting of two pillars, a bio-energy labelling organization (BLO) and a United Nations Agreement on Bio-energy (UNAB). Although consulted experts in the research process are critical about this system they do suggest several conditions a governance system for bio-energy should meet in order to be effective, such as a facilitative government, professional monitoring and using progressive certification combined with price premiums. These conditions have been taken into account in the final proposal. (author)

  9. Transportation Energy Futures Series. Projected Biomass Utilization for Fuels and Power in a Mature Market

    Energy Technology Data Exchange (ETDEWEB)

    Ruth, M. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mai, T. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Newes, E. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Aden, A. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Warner, E. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Uriarte, C. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Inman, D. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Simpkins, T. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Argo, A. [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2013-03-01

    The viability of biomass as transportation fuel depends upon the allocation of limited resources for fuel, power, and products. By focusing on mature markets, this report identifies how biomass is projected to be most economically used in the long term and the implications for greenhouse gas (GHG) emissions and petroleum use. In order to better understand competition for biomass between these markets and the potential for biofuel as a market-scale alternative to petroleum-based fuels, this report presents results of a micro-economic analysis conducted using the Biomass Allocation and Supply Equilibrium (BASE) modeling tool. The findings indicate that biofuels can outcompete biopower for feedstocks in mature markets if research and development targets are met. The BASE tool was developed for this project to analyze the impact of multiple biomass demand areas on mature energy markets. The model includes domestic supply curves for lignocellulosic biomass resources, corn for ethanol and butanol production, soybeans for biodiesel, and algae for diesel. This is one of a series of reports produced as a result of the Transportation Energy Futures (TEF) project, a Department of Energy-sponsored multi-agency project initiated to pinpoint underexplored strategies for abating GHGs and reducing petroleum dependence related to transportation.

  10. Transportation Energy Futures Series: Projected Biomass Utilization for Fuels and Power in a Mature Market

    Energy Technology Data Exchange (ETDEWEB)

    Ruth, M.; Mai, T.; Newes, E.; Aden, A.; Warner, E.; Uriarte, C.; Inman, D.; Simpkins, T.; Argo, A.

    2013-03-01

    The viability of biomass as transportation fuel depends upon the allocation of limited resources for fuel, power, and products. By focusing on mature markets, this report identifies how biomass is projected to be most economically used in the long term and the implications for greenhouse gas (GHG) emissions and petroleum use. In order to better understand competition for biomass between these markets and the potential for biofuel as a market-scale alternative to petroleum-based fuels, this report presents results of a micro-economic analysis conducted using the Biomass Allocation and Supply Equilibrium (BASE) modeling tool. The findings indicate that biofuels can outcompete biopower for feedstocks in mature markets if research and development targets are met. The BASE tool was developed for this project to analyze the impact of multiple biomass demand areas on mature energy markets. The model includes domestic supply curves for lignocellulosic biomass resources, corn for ethanol and butanol production, soybeans for biodiesel, and algae for diesel. This is one of a series of reports produced as a result of the Transportation Energy Futures (TEF) project, a Department of Energy-sponsored multi-agency project initiated to pinpoint underexplored strategies for abating GHGs and reducing petroleum dependence related to transportation.

  11. An over painted oriental arts: Evaluation of the development of the Chinese renewable energy market using the wind power market as a model

    International Nuclear Information System (INIS)

    Yu, James; Ji, Fuxing; Zhang Ling; Chen Yushou

    2009-01-01

    China is now the largest CO 2 polluter in the world. However, the renewable energy policies in China are controversial and one can easily draw the wrong conclusions that Chinese renewable energy development has taken off from a surface assessment of the policies. By investigating and summarizing the first-hand experiences of participation in the Chinese renewable market (mainly wind farm development) in the past five years, this paper provides another dimension of policy analysis and independent review of the current issues facing the market. An investigation of policy changes and consequences clearly demonstrates the transformation of the Chinese renewable market. The domestic manufacturing quality and unprofessional design of wind farms made most developers' financial returns unrealistic in the wind market. Despite the difficulties and inconsistency in the system, China is tackling environmental issues seriously and heading in the right direction. With centrally controlled management, the Chinese strategies do not have to be justified financially. It is envisioned by the authors that re-organizing over 70 existing Chinese wind turbine manufacturers is unavoidable. Establishment of an internal renewable market, such as Renewable Obligation Certificate (ROC) system in the UK whose effectiveness is another subject of debate, would be an effective means by which the Chinese government in their post-2012 strategy could make the wind market more financially viable.

  12. Spillover effects in energy futures markets

    International Nuclear Information System (INIS)

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

    2001-01-01

    Price discovery in crude oil and refined oil products has been extensively undertaken in organised futures markets for over a decade now. There are two dominant such markets today: the first one in the New York Mercantile Exchange; and the second in London's International Petroleum Exchange. With the demise of OPEC as the leading price setter for crude and products, NYMEX light sweet crude and Brent crude have usurped the role of benchmark grades for price setting. To date considerable work has been done to scrutinise the degree to which these two markets price efficiently, but little with regard to the way the two markets interact. Participants in these markets move with relative ease from one market to the other and usually take positions in both of them. It is of interest, therefore, to investigate the information transmission mechanism by looking at spillover effects and, perhaps, identify which market is the true price leader. This paper is a first attempt to look at such a problem in the energy market, although similar studies have been done on stock market indices. It is found that substantial spillover effects do exist when both markets are trading simultaneously, although IPE morning prices seem to be considerably affected by the close of the previous day on NYMEX

  13. Market potential and market hindrances for thermal solar energy; Marktpotentiale und Markthindernisse fuer die thermische Solarenergie

    Energy Technology Data Exchange (ETDEWEB)

    Gerheuser, F. W.

    2002-10-15

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) discusses the market potential and market hindrances for thermal solar energy systems. The author notes that solar systems for heating domestic hot water have a considerable market potential, especially for single-family homes. Such installations are discussed in detail, whereby not only technicalities but also market image and the latent potential for such systems are discussed. The results of surveys made are presented and discussed. The lower potential for installations on apartment blocks is also mentioned.

  14. Developing a district energy system in a competitive urban market

    Energy Technology Data Exchange (ETDEWEB)

    Mitola, J.P. [Unicom Thermal Technologies, Chicago, IL (United States)

    1995-09-01

    In two year`s time, Unicorn Thermal Technologies has grown into one of the largest district cooling systems of 25,000 tons with a 1996 plan to grow to 40,000 tons. This growth is attributed to the development and implementation of a marketing and sales plan based on thorough market research and innovative marketing and sales strategies, and the consistent implementation of those strategies. The beginning of the sales effort was focused around the company`s first district cooling facility, However, it quickly grew into a much broader vision as market acceptance increased. Although the district energy industry has often based its message on being a low cost energy provider, market research and early sales experience indicated that customers choose district cooling as a value added service. As customers began to reserve capacity in the first plant, the idea that district cooling is a value added service and not a commodity energy product was continually reinforced through marketing communications. Although this analysis is a review of developing a district energy system in a competitive urban market, it purposely avoids a long winded discussion of head to head competition.

  15. Structural Break, Stock Prices of Clean Energy Firms and Carbon Market

    Science.gov (United States)

    Wang, Yubao; Cai, Junyu

    2018-03-01

    This paper uses EU ETS carbon future price and Germany/UK clean energy firms stock indices to study the relationship between carbon market and clean energy market. By structural break test, it is found that the ‘non-stationary’ variables judged by classical unit root test do own unit roots and need taking first difference. After analysis of VAR and Granger causality test, no causal relationships are found between the two markets. However, when Hsiao’s version of causality test is employed, carbon market is found to have power in explaining the movement of stock prices of clean energy firms, and stock prices of clean energy firms also affect the carbon market.

  16. Energy efficiency and energy service companies in restructured markets: international experience

    International Nuclear Information System (INIS)

    Limaye, Dilip R.

    1999-01-01

    There has been considerable recent activity related to restructuring of the energy supply industries. Restructuring usually involves introducing competition into some elements of the ESI (energy supply industries). In some countries the privatization of the government-owned utility businesses is another key element of industry restructuring. The introduction of competition and privatization in the energy market is likely to realign the roles of the industry players (generators, transmission businesses) distribution 'wires' businesses, and retail suppliers) relative to customers. A key challenge faced by policy-makers is to define the appropriate roles and activities of the public and private sector to assure that economically justifiable levels of sustainable energy services are offered in the marketplace. This paper reviews the mechanisms adopted to implement energy efficiency services in a number of countries that have restructured their energy markets, and develops a framework for assessing, comparing and discussing potential new mechanisms. The paper identifies two types of EE mechanisms. (The author)

  17. Economic Dispatch of Hydrogen Systems in Energy Spot Markets

    DEFF Research Database (Denmark)

    You, Shi; Nørgård, Per Bromand

    2015-01-01

    of energy spot markets. The generic hydrogen system is comprised of an electrolysis for hydrogen production, a hydrogen storage tank and a fuel cell system for cogeneration of electricity and heat. A case study is presented with information from practical hydrogen systems and the Nordic energy markets...

  18. On the environmental impact of energy market liberalisation: Environmental policy, economic reform and endogenous technology

    NARCIS (Netherlands)

    D.P. van Soest (Daan); H.L.F. de Groot (Henri)

    2003-01-01

    textabstractIn the literature, attention has been paid to the environmental consequences of lower energy prices caused by market liberalisation: the drop in energy prices reduces the attractiveness of investing in energy-saving technologies. In this paper we develop a simple model of investment

  19. WINS. Market Simulation Tool for Facilitating Wind Energy Integration

    Energy Technology Data Exchange (ETDEWEB)

    Shahidehpour, Mohammad [Illinois Inst. of Technology, Chicago, IL (United States)

    2012-10-30

    Integrating 20% or more wind energy into the system and transmitting large sums of wind energy over long distances will require a decision making capability that can handle very large scale power systems with tens of thousands of buses and lines. There is a need to explore innovative analytical and implementation solutions for continuing reliable operations with the most economical integration of additional wind energy in power systems. A number of wind integration solution paths involve the adoption of new operating policies, dynamic scheduling of wind power across interties, pooling integration services, and adopting new transmission scheduling practices. Such practices can be examined by the decision tool developed by this project. This project developed a very efficient decision tool called Wind INtegration Simulator (WINS) and applied WINS to facilitate wind energy integration studies. WINS focused on augmenting the existing power utility capabilities to support collaborative planning, analysis, and wind integration project implementations. WINS also had the capability of simulating energy storage facilities so that feasibility studies of integrated wind energy system applications can be performed for systems with high wind energy penetrations. The development of WINS represents a major expansion of a very efficient decision tool called POwer Market Simulator (POMS), which was developed by IIT and has been used extensively for power system studies for decades. Specifically, WINS provides the following superiorities; (1) An integrated framework is included in WINS for the comprehensive modeling of DC transmission configurations, including mono-pole, bi-pole, tri-pole, back-to-back, and multi-terminal connection, as well as AC/DC converter models including current source converters (CSC) and voltage source converters (VSC); (2) An existing shortcoming of traditional decision tools for wind integration is the limited availability of user interface, i.e., decision

  20. Forecasting US renewables in the national energy modelling system

    International Nuclear Information System (INIS)

    Diedrich, R.; Petersik, T.W.

    2001-01-01

    The Energy information Administration (EIA) of the US Department of Energy (DOE) forecasts US renewable energy supply and demand in the context of overall energy markets using the National Energy Modelling System (NEMS). Renewables compete with other supply and demand options within the residential, commercial, industrial, transportation, and electricity sectors of the US economy. NEMS forecasts renewable energy for grid-connected electricity production within the Electricity Market Module (EM), and characterizes central station biomass, geothermal, conventional hydroelectric, municipal solid waste, solar thermal, solar photovoltaic, and wind-powered electricity generating technologies. EIA's Annual Energy Outlook 1998, projecting US energy markets, forecasts marketed renewables to remain a minor part of US energy production and consumption through to 2020. The USA is expected to remain primarily a fossil energy producer and consumer throughout the period. An alternative case indicates that biomass, wind, and to some extent geothermal power would likely increase most rapidly if the US were to require greater use of renewables for power supply, though electricity prices would increase somewhat. (author)

  1. Technology diffusion of energy-related products in residential markets

    Energy Technology Data Exchange (ETDEWEB)

    Davis, L.J.; Bruneau, C.L.

    1987-05-01

    Acceptance of energy-related technologies by end residential consumers, manufacturers of energy-related products, and other influential intermediate markets such as builders will influence the potential for market penetration of innovative energy-related technologies developed by the Department of Energy, Office of Building and Community Systems (OBCS). In this report, Pacific Northwest Laboratory reviewed the available information on technology adoption, diffusion, and decision-making processes to provide OBCS with a background and understanding of the type of research that has previously been conducted on this topic. Insight was gained as to the potential decision-making criteria and motivating factors that influence the decision-maker(s) selection of new technologies, and some of the barriers to technology adoption faced by potential markets for OBCS technologies.

  2. Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

    International Nuclear Information System (INIS)

    Santos, Gabriel; Pinto, Tiago; Morais, Hugo; Sousa, Tiago M.; Pereira, Ivo F.; Fernandes, Ricardo; Praça, Isabel; Vale, Zita

    2015-01-01

    Highlights: • Definition of an ontology allowing the communication between multi-agents systems. • Social welfare evaluation in different electricity markets. • Demonstration of the use of the proposed ontology between two multi-agents systems. • Strategic biding in electricity markets. • European electricity markets comparison. - Abstract: The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform provides the means for the exemplification of the usefulness of this ontology. A case study using the proposed multi-agent platform is presented, considering a scenario based on real data that simulates the European Electricity Market environment, and comparing its performance using different market mechanisms. The main goal is to demonstrate the advantages that the integration of various market models and simulation platforms have for the study of the electricity markets’ evolution

  3. A State-Based Approach to Building a Liquid National Market for Renewable Energy Certificates: The REC-EX Model

    International Nuclear Information System (INIS)

    Berendt, Christopher B.

    2006-01-01

    RECs are the currency driving the growth of renewable energy markets and the sale of RECs from renewable energy generation projects could promise a predictable return. But the existing REC markets in the U.S. sorely lack the liquidity needed to make good on that promise. The author proposes a Renewable Energy Certificate Exchange program rooted in the construction of a national trading platform for RECs in tandem with the execution of a new agreement among the states with REC-based renewable portfolio standards. (author)

  4. Sustainable markets for sustainable energy

    Energy Technology Data Exchange (ETDEWEB)

    Millan, J.; Smyser, C.

    1997-12-01

    The author discusses how the Inter-American Development Bank (IDB) is involved in sustainable energy development. It presently has 50 loans and grants for non conventional renewable energy projects and ten grants for efficiency programs for $600 and $17 million respectively, representing 100 MW of power. The IDB is concerned with how to create a sustainable market for sustainable energy projects. The IDB is trying to work with government, private sector, NGOs, trading allies, credit sources, and regulators to find proper roles for such projects. He discusses how the IDB is working to expand its vision and objectives in renewable energy projects in Central and South America.

  5. Handbook of Marketing Decision Models

    NARCIS (Netherlands)

    B. Wierenga (Berend)

    2008-01-01

    textabstractThis book presents the state of the art in marketing decision models, dealing with new modeling areas such as customer relationship management, customer value and online marketing, but also describes recent developments in other areas. In the category of marketing mix models, the latest

  6. Optimisation of fuel stocks under liberalisation of energy market

    International Nuclear Information System (INIS)

    Shipkovs, P.; Sitenko, L.; Kashkarova, G.

    2001-01-01

    The paper discusses the influence of regional fuel stocks on the reliability of the energy sector's activities in a given region. The authors give classification of stocks by their purpose and describe their role in avoiding energy shortage situations. The fuel deficiency at a regional fuel market is shown in connection with the resulting loss for the national economy. The authors employ imitative modelling for investigation of fuel supply schemes acting in Latvia. They estimate possible expenses on the maintenance of fuels - such as gas, residual oil, and coal - for different variants of fuel delivery. (author)

  7. The marketing of solar energy

    International Nuclear Information System (INIS)

    Coehoorn, M.; Sinke, W.C.

    1994-01-01

    After two decades of research and development the market introduction of solar water heaters finally is developing rapidly. In a number of progressive countries, amongst which the Netherlands, preparations are made for the large-scale introduction of photovoltaic (PV) power systems. A brief overview is given of market introduction activities with regard to solar energy applications in several countries. Also attention is paid to new technological developments for the improvement of solar boilers: the Integrated Collector Storage system, the integration of the storage tank in the solar water heater (combi-boiler), and the new principle for a combined system for the production of hot tap water and space heating, the so-called solar-gas-combi. The Dutch-developed boilers, however, must compete with the the foreign thermosyphon boilers, although these boilers probably require more maintenance than the Dutch boilers. The market for PV-systems is still in its infancy. The marketing efforts and research activities in Japan, USA and European countries for PV-systems are briefly discussed. Although financial incentives from the national governments are still necessary contributions from other market parties for the development of PV-systems are expected. 4 ills

  8. Promoting healthy competition across the energy market

    International Nuclear Information System (INIS)

    Anon.

    2001-01-01

    As of August 1 last year, Finland's Electricity Market Authority became the Energy Market Authority. The timing of the change coincided with the introduction of Finland's new Natural Gas Market Act and reflected the extension of the Authority's responsibility to cover promoting healthy and efficient competition on both the electricity and natural gas market and to secure reasonable and equitable service principles in the operations of both networks. The Electricity Market Authority began operations in mid-1995 as an expert body subordinate to the Ministry of Trade and industry when Finland's Electricity Market Act came into force, bringing with it a phased opening-up of the Finnish electricity market. The principle task of the Authority was, and remains, to supervise the pricing of transmission, distribution, and other network services, and to ensure a healthy level of competition

  9. Security of supply in the liberalized energy market

    International Nuclear Information System (INIS)

    Boffa, Federico

    2007-01-01

    The incentive schemes in the liberalized energy markets do not ensure short-term security of supply. The paper analyzes the regulatory measures suitable to tackle the issue, and evaluates their effects on market power [it

  10. 75 FR 5782 - Noble Energy Marketing and Trade Corporation; Supplemental Notice That Initial Market-Based Rate...

    Science.gov (United States)

    2010-02-04

    ... Marketing and Trade Corporation; Supplemental Notice That Initial Market-Based Rate Filing Includes Request...-referenced proceeding of Noble Energy Marketing and Trade Corporation's application for market- based rate... electronic submission of protests and interventions in lieu of paper, using the FERC Online links at http...

  11. MODEL OF MARKETING COMMUNICATIONS EFFECTIVENESS IN THE BUSINESS-TO-BUSINESS MARKETS

    OpenAIRE

    Jerman, Damjana; Završnik, Bruno

    2012-01-01

    Much of the research into marketing communications has focused on the consumer market with little regard to date for the business-to-business market. This paper focuses on a development and testing of a model of marketing communication effectiveness in the business-to-business market. Building on past research from the marketing communications and business-to-business marketing literature, the model (which incorporates facets of the marketing communication objectives, bidirectional communicat...

  12. The green electricity market model. Proposal for an optional, cost-neutral direct marketing model for supplying electricity customers; Das Gruenstrommarktmodell. Vorschlag fuer ein optionales und kostenneutrales Direktvermarktungsmodell zur Versorgung von Stromkunden

    Energy Technology Data Exchange (ETDEWEB)

    Heinemann, Ronald [NATURSTROM AG, Berlin (Germany)

    2014-07-01

    One of the main goals of the Renewable Energy Law (EEG) is the market integration of renewable energy resources. For this purpose it has introduced compulsory direct marketing on the basis of a moving market premium. At the same time the green electricity privilege, a regulation which made it possible for customers to be supplied with electricity from EEG plants, has been abolished without substitution with effect from 1 August 2014. This means that, aside from other direct marketing channels, which will not be economically viable save for in a few exceptional cases, it will no longer be possible in future to sell electricity from EEG plants to electricity customers under the designation ''electricity from renewable energy''. The reason for this is that electricity sold under the market premium model can no longer justifiably be said to originate from renewable energy. As a consequence, almost all green electricity products sold in Germany carry a foreign green electricity certificate.

  13. Proceedings of the Ninth forum: Croatian Energy Day: Restructuring, Privatisation and Market Changes of Grid-bound Energy Systems; Zbornik radova Devetog foruma: Dan energije u Hrvatskoj

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-07-01

    Restructuring, privatisation and market changes of grid-bound energy systems present processes that characterise the energy sector of today, and the achieved level of these processes vary considerably from one country to another and there is no ideal model. Therefore, the exchange of experiences and broad co-operation in the field is of vital importance. For the first time the concept of the future Croatian energy legislation, presently in the focus of domestic energy related attention, will be introduced. Restructuring includes the changes in organisation anbd economic relations in order to enhance efficiency and reduce operational costs, in keeping with the market trends. Privatisation is a process that should enable the creation of markets and competition. When defining the concept of privatisation, we should primarily design the market, determine the position of individual functioning during market creation, and then determine the course of privatisation. Experiences of developed countries tell us that it is necessary to find a balance between markets and state interventions, as well as among technological-technical, economic and social aspects of energy use.

  14. Wind energy: A review of technical and market issues

    Energy Technology Data Exchange (ETDEWEB)

    Garrad, A.D. [Garrad Hassan & Partners Ltd., Bristol (United Kingdom)

    1996-12-31

    Opinions on the world market for wind power are presented in this paper. The paper is divided into three sections: the market, the technology, and general conclusions. The market section compares European and US wind energy growth and contributing factors and barriers to growth. A technology overview discusses wind turbine concepts, mass reduction, blade structural flexibility, and growth in machine size. Political decisions, economic aspects, public acceptance, and technology limitations are assessed for their influence on the growth of wind energy. 11 figs.

  15. Battery energy storage market feasibility study -- Expanded report

    Energy Technology Data Exchange (ETDEWEB)

    Kraft, S. [Frost and Sullivan, Mountain View, CA (United States); Akhil, A. [Sandia National Labs., Albuquerque, NM (United States). Energy Storage Systems Analysis and Development Dept.

    1997-09-01

    Under the sponsorship of the US Department of Energy`s Office of Utility Technologies, the Energy Storage Systems Analysis and Development Department at Sandia National Laboratories (SNL) contracted Frost and Sullivan to conduct a market feasibility study of energy storage systems. The study was designed specifically to quantify the battery energy storage market for utility applications. This study was based on the SNL Opportunities Analysis performed earlier. Many of the groups surveyed, which included electricity providers, battery energy storage vendors, regulators, consultants, and technology advocates, viewed battery storage as an important technology to enable increased use of renewable energy and as a means to solve power quality and asset utilization issues. There are two versions of the document available, an expanded version (approximately 200 pages, SAND97-1275/2) and a short version (approximately 25 pages, SAND97-1275/1).

  16. Analysis of the results of the energy market operation

    International Nuclear Information System (INIS)

    Popovska, V.; Diankov, M.

    2006-01-01

    The paper focuses on the results of the market operation. It includes: analysis of the active market participants and steps to be undertaken in respect of access to the grid and registration on the market, as well as a comparative analysis of the trade at regulated and freely negotiated prices. This report analyses the imbalances of the consumers of energy, generators, including generators operating with one unit. Information about the special role of the public supplier as a main provider of balancing energy, market interruption in case of emergency situation and force major events, circumstances for the parties and contractual relationship is also included. (authors)

  17. Advanced mechanisms for the promotion of renewable energy-Models for the future evolution of the German Renewable Energy Act

    International Nuclear Information System (INIS)

    Langniss, Ole; Diekmann, Jochen; Lehr, Ulrike

    2009-01-01

    The German Renewable Energy Act (EEG) has been very successful in promoting the deployment of renewable electricity technologies in Germany. The increasing share of EEG power in the generation portfolio, increasing amounts of fluctuating power generation, and the growing European integration of power markets governed by competition calls for a re-design of the EEG. In particular, a more efficient system integration and commercial integration of the EEG power is needed to, e.g. better matching feed-in to demand and avoiding stress on electricity grids. This article describes three different options to improve the EEG by providing appropriate incentives and more flexibility to the promotion mechanism and the quantitative compensation scheme without jeopardising the fast deployment of renewable energy technologies. In the 'Retailer Model', it becomes the responsibility of the end-use retailers to adapt the EEG power to the actual demand of their respective customers. The 'Market Mediator Model' establishes an independent market mediator responsible to market the renewable electricity. This model is the primary choice when new market entrants are regarded as crucial for the better integration of renewable energy and enhanced competition. The 'Optional Bonus Model' relies more on functioning markets since power plant operators can alternatively choose to market the generated electricity themselves with a premium on top of the market price instead of a fixed price

  18. Market integration of responsive customers : application to energy and balancing markets

    Energy Technology Data Exchange (ETDEWEB)

    Alvarez, C.; Valencia, I.; Alcazar, M. [Univ. Politecnica de Valencia, Valencia (Spain). Inst. of Energy Engineering; Gabaldon, A.; Escriva, G. [Univ. Politecnica de Cartagena, Cartagena (Spain). Dept. of Electrical Engineering

    2009-07-01

    Demand response management methods are now being adopted by many deregulated electric utilities. This article presented details of a method designed to create offers and bids for large electricity customers. The method was developed to analyze daily and monthly energy consumption rates and participation in energy and ancillary service markets in Spain. A simulation was used to analyze day-ahead, inter-daily, and balancing scenarios. Peak demand in winter and summer months was characterized. Energy consumption was analyzed for different demand packages related to air conditioning, outdoor lighting, indoor lighting, and other domestic loads. Prices for each package were calculated in order to assess demand reduction capabilities. Differences between real consumption levels and energy prices bought at real-time prices were compared. An overview of Spanish electricity market structures was provided. Results of the study showed that electricity customers may benefit from participating in demand response programs. It was concluded that lower prices obtained during periods of low electricity production outweighed the higher costs of peak electricity periods. 13 refs., 3 tabs., 9 figs.

  19. Market integration of responsive customers : application to energy and balancing markets

    International Nuclear Information System (INIS)

    Alvarez, C.; Valencia, I.; Alcazar, M.; Gabaldon, A.; Escriva, G.

    2009-01-01

    Demand response management methods are now being adopted by many deregulated electric utilities. This article presented details of a method designed to create offers and bids for large electricity customers. The method was developed to analyze daily and monthly energy consumption rates and participation in energy and ancillary service markets in Spain. A simulation was used to analyze day-ahead, inter-daily, and balancing scenarios. Peak demand in winter and summer months was characterized. Energy consumption was analyzed for different demand packages related to air conditioning, outdoor lighting, indoor lighting, and other domestic loads. Prices for each package were calculated in order to assess demand reduction capabilities. Differences between real consumption levels and energy prices bought at real-time prices were compared. An overview of Spanish electricity market structures was provided. Results of the study showed that electricity customers may benefit from participating in demand response programs. It was concluded that lower prices obtained during periods of low electricity production outweighed the higher costs of peak electricity periods. 13 refs., 3 tabs., 9 figs

  20. Modelling Market Dynamics with a "Market Game"

    Science.gov (United States)

    Katahira, Kei; Chen, Yu

    In the financial market, traders, especially speculators, typically behave as to yield capital gains by the difference between selling and buying prices. Making use of the structure of Minority Game, we build a novel market toy model which takes account of such the speculative mind involving a round-trip trade to analyze the market dynamics as a system. Even though the micro-level behavioral rules of players in this new model is quite simple, its macroscopic aggregational output has the reproducibility of the well-known stylized facts such as volatility clustering and heavy tails. The proposed model may become a new alternative bottom-up approach in order to study the emerging mechanism of those stylized qualitative properties of asset returns.

  1. Development of a Comprehensive Energy Service Business Model

    Energy Technology Data Exchange (ETDEWEB)

    Lee, S.K. [Korea Energy Economics Institute, Euiwang (Korea)

    2001-11-01

    Traditionally, energy industry has been regarded as supply- oriented and characterized by its vertically integrated structure and monopolized market. In particular, network industries such as electricity, natural gas, and district heating and cooling, because of their large initial capital investments, were inevitably state-owned. As their sizes have ever increased, government-owned corporations are confronted with internal crises such as financial limitations, increasing internal transaction costs, etc. In addition to these internal problems, fundamental changes in the external environment such as advances in communication and modular technologies, globalization, and market liberalization have forced energy industries to undergo a restructuring process. Restructuring in the energy industry is intended to introduce competition in the market by unbundling the energy service into production, transportation, and distribution. The energy service has been vertically as well as horizontally integrated by suppliers. Restructuring, which has been implemented in the United States and the European countries, is now being introduced in Korea. However, energy services have not yet been regulated as a separate industry even in those countries which are well advanced in their restructuring. WTO negotiation is under way to separate the service sector in 'General Agreement on Tariffs and Trade(GATT).' Areas that can be categorized as a service sector are 17 subdivided sub-sectors as dispersed in each sector. Energy service business models expected to be emerged in the restructuring process of energy industry include: transmission/trunk pipeline projects, distribution/local pipeline projects, trading, brokerage, metering service, local distribution of natural gas, to name a few, for electricity and natural gas sectors; rational use of energy such as CES business and ESCOs for district heating and cooling, and energy conservation sector. Rational use of energy, in

  2. Modelling the effects of U.S. ENERGY STARR appliance programs

    International Nuclear Information System (INIS)

    Feldman, Shel; Hoefgen, Lynn; Wilson-Wright, Lisa; Li, Angela

    2005-01-01

    Numerous U.S. utilities and market transformation organizations have invested heavily in the ENERGY STAR program, designed to increase market penetration of energy-efficient products (e.g., home appliances, lighting products, windows). Major activities involve stimulating production and promotion of qualifying models, as well as stocking, sales support and financial incentives to customers-all of which entail considerable investments of public funds. Several studies have shown that customer awareness of ENERGY STAR has increased across the country, particularly where energy-efficiency programs have been most active. Furthermore, studies in regions with aggressive programs have shown that the market penetration of qualifying products has increased rapidly. Until recently, however, policy makers have lacked reliable studies that compare changes in market penetration across regions with and without programs while factoring out effects of demographic and other background factors (e.g., education, income, and climate). Also lacking have been attempts to assess whether heavy promotion of the ENERGY STAR brand with some appliances (e.g., clothes washers) has affected the market penetration of less-promoted qualifying appliances. In this paper, the authors address these issues, using a database of the market penetration of four major home appliances at national retailers in each of the individual states over a multi-year period, based on multivariate statistical models. Results include both analyses of the overall trend of market penetration (1998-2002) for the appliances considered and the incremental effects of the 2003 program. The results lead to recommendations regarding the design of programs supporting ENERGY STAR compliant appliances and the key components of those programs

  3. European energy market in 1980. Volume I

    Energy Technology Data Exchange (ETDEWEB)

    Ray, G; Robinson, C

    1975-01-01

    Three important general influences now affecting energy markets are: (1) exploitation of bargaining power by exporters of raw materials (especially oil); (2) changing attitudes in the developed world towards economic growth; and (3) the unprecedented combination of rapid inflation and serious recession. Fears of energy shortages helped precipitate the world crisis, but there is no energy famine imminent. The rise in energy prices resulted from use of OPEC's quasi-monopoly power rather than from real energy shortages. It is projected that European fuel markets in the next few years will be influenced by: poorer economic growth prospects, the increase in energy prices, oil-saving measures caused by consumers' adjustments over some years to the past huge oil price increases, and attempts by European governments to reduce dependence on OPEC oil. Possible substitutes for OPEC oil are their own various sources of crude oil, European natural gas, and electricity from nuclear fission. EEC's latest energy strategy calls for adequate supplies of cheap energy with minimum damage to the environment. Energy forecasts up to 1980 are given for the nine EEC countries and for Norway and Sweden. Data on energy demand, fuel consumption, and production are summarized. It is felt that, by 1980, Netherlands, United Kingdom, and Norway should be producing more energy than they consume. (MCW)

  4. Proposal of a new architecture for the electricity market. Report for France Energie Eolienne

    International Nuclear Information System (INIS)

    2014-09-01

    In a context of evolution of electricity markets in all European countries, with notably an increasing share of renewable energies (particularly wind and solar energy), and as there are two main objectives for the future electricity market rules (integration of renewable energies within the market, market adaptation to a strong development of these energies), this document reports the development of recommendations for the implementation of a market architecture which would promote these objectives in France. These recommendations concern the access to the grid, the wholesale market, adjustment rules, an additional remuneration for renewable energies, the retail market, and the carbon market

  5. Will there be room left for wind energy in the future energy market?

    International Nuclear Information System (INIS)

    Martinelli, Renato

    2014-03-01

    After having noticed and outlined that the electricity market is now facing an unprecedented crisis, that its rules are not adapted to the new electric paradigm any more, that wind energy has now a positive impact on the French electric system, that the electricity market crisis puts wind energy and more generally renewable energies into question again, and that the whole world, after Europe, has largely chosen wind energy, this brief document outlines the results of a survey on the credit given by French people to renewable energies, and then defines four priorities for the development of wind energy in France: a clearer economic framework, a commitment on the long term, a simpler legal and technical framework, and the proposition of an industrial pact

  6. Energy Efficiency, Building Productivity and the Commercial Buildings Market

    Energy Technology Data Exchange (ETDEWEB)

    Jones, D.W.

    2002-05-16

    The energy-efficiency gap literature suggests that building buyers are often short-sighted in their failure to apply life-cycle costing principles to energy efficient building technologies, with the result that under investment in these advanced technology occurs. This study examines the reasons this behavior may occur, by analyzing the pressures that market forces place on purchasers of buildings. Our basic conclusion is that the fundamental manner in which the buildings sector does business creates pressures to reduce initial capital outlays and to hedge against a variety of risks, including the ability of building owners to capture benefits from energy efficiency. Starting from the position that building buyers' willingness to pay drives choices over building attributes, we examine basic market principles, the structure of the buildings market, including the role of lenders, and policies that promote penetration of energy efficient technologies. We conclude that greater attention to buyers, and to the incentives and constraints they face, would promote a better understanding of building investment choices and contribute to better policies to promote the penetration of these technologies into markets.

  7. Energy Markets in the United States: The Influence of Politics, Regulations, and Markets on Energy Development in the Oil and Gas and Wind Industries

    Science.gov (United States)

    Maguire, Karen Kay

    2011-12-01

    My dissertation focuses on the influence of politics, policies, and markets in determining oil and natural gas and wind energy development. In the first chapter, I examine the role of federal elected political influence and market factors in determining the acres of oil and natural gas leases issued on Bureau of Management (BLM) lands in the western United States between 1978 and 2008. I seek to determine if the political party and ideology of the federal political environment influence the number of acres that are leased and if there is disparate federal political influence in states that have a large amount of federal lands. Using a random effects Tobit model for a 17-state sample of the westernmost states in the contiguous United States, I find that more conservative federal political influence leads to additional leasing. The results are consistent across Senate committee leaders, Senate majority leadership, and the President's office. The further found that the influence of politics on leasing is not stronger in states with more federal lands. In the second chapter, I analyze the influence of state and federal political party changes and market factors on state oil and natural gas permitting. My findings, using a first-differenced empirical model for two samples, a 19-state sample, from 1990--2007, and a 14-state sample, from 1977--2007, indicate that the influence of state political party changes are trumped by economic factors. Oil and gas prices are the main drivers of permitting changes, while the state political party changes for the state legislatures and Governor's office are consistently not significant. In the third chapter I focus on the role of electricity markets and renewable energy regulation in wind development across the United States. My findings, using a random effects Tobit model with a 25-state sample, from 1994--2008, indicate that the implementation of state Renewables Portfolio Standards (RPS), the Federal Production Tax Credit (PTC

  8. Policy options when giving negative externalities market value. Clean energy policymaking and restructuring the Western Australian energy sector

    International Nuclear Information System (INIS)

    McHenry, Mark

    2009-01-01

    Uncertainty surrounds the choice of instruments that internalise fossil-fuel pollution at the local, regional and global level. This work outlines the considerable growth in the Western Australian (WA) energy sector and explores the available options and potential hazards of using specific instruments to internalise externalities. These core options are discussed with respect to liberalising energy markets, providing private investment certainty, and imparting commentary on the developments and consequences of reform in the WA context. As a large energy exporter, providing certainty for the WA energy sector investment and the community is necessary to maintain the current prosperity. Remarkably, in the decades of market reform progress, the absence of one essential element is evident: economic externalities. Policymakers are under increasing pressure to understand economic reform, new energy markets and the multifaceted repercussions they entail. With modern energy reform sitting squarely within the milieu of more efficient governments and climate policy, there are clear economic advantages to internalising negative and positive externalities and other market distortions during energy market developments. Ignoring market failures when commercialising government-owned energy utilities in de-regulated and competitive markets invites continued ad-hoc government interference that generates investment uncertainty in addition to a perplexed electorate. (author)

  9. Integration of liberalised energy market; Samspillet mellem de liberaliserede energimarkeder

    Energy Technology Data Exchange (ETDEWEB)

    Klinge Jacobsen, H.; Fristrup, P.; Munksgaard, J.; Pade, L.L.; Henriksen, T.C.

    2004-03-01

    The markets for electricity, natural gas and district heating are inter-linked both with respect to the energy flows and with respect to ownership of supply sources and infrastructure. The extent and the possible consequences of these linkages are examined in this report. The options for public interventions in these markets are analysed to compare instruments with respect to their ability to provide the necessary incentives for an efficient functioning of the liberalised markets. Aspects of retail markets with households facing multi-product distribution companies and aspects of the production of combined heat and power based on natural gas has been covered. This project identifies some important aspects related to final consumers and the interaction of markets with different types of regulation and scope for liberalisation. From a Danish perspective the district heat market and the dependence on market conditions for natural gas is a specific concern. Consumer concerns also relate to the creation of multi-product energy distribution companies that are privately owned and possibly controlled by foreign interests. Such companies might use bundled sales of energy products to extent their dominant position in one market e.g. a regulated heat market to a market with considerable competition (electricity). Bundled sales would not necessarily result in a loss for the consumer due to economies of scope in supplying energy products. However, the regulatory authorities responsible for district heat prices will have a more complicated job in surveying the bundled price setting. Integration of activities within natural gas distribution and CHP production has been analysed with respect to incentives and welfare implications. Results of the project point to critical market conditions and identify areas of concern for regulatory policies. The analysis shows that there is a large welfare loss associated with having monopolies in both natural gas supplies and the CHP production

  10. The energy in Colombia: A wholesale market

    International Nuclear Information System (INIS)

    1996-01-01

    One year ago, the national government's energy politics, gave beginning to a novel strategy for the restructuring of the sector: The setting in march of the wholesale energy market -WEM - and the opening of the energy bag under the administration of interconnection electric S.A. E. P. S., ISA. After a year of works, the positive balance of the market and their permanent growth, are the best letter in presentation of this sector of the national economy. The wholesale energy market is conformed by generating companies. The generating ones are the companies with capacity of superior generation to the 20 MW that they are connected to the national interconnected system; it doesn't care if the origin of this energy is hydraulic, gas, coal or liquid fuel. The generators participate in the WEM with energy offers for price and with their long-term contracts. In the bag they can also offer or to buy energy the generators with capacity between 1 and 20 MW, registered in the National Center of Office CO of ISA, as WEM participants. These can be associated to a generator, to a distributor, to be conformed by one or several groups of big consumers or for organized companies for this purpose, as Mamonal in Cartagena. These users with more demand to 2 MW assisted in oneself place, receive the name of Not Regulated Clients -NRC - and they can hire their energy in free form. The commission of energy regulation and gas ERG modified the tops for these clients starting from January of 1997, the not regulated clients will be this way those that have a same demand or superior to 1 MW; and in January of 1998, bigger than 0.5 MW

  11. Development of a novel market forecasting tool and its application to hydrogen energy production in Scotland

    International Nuclear Information System (INIS)

    Houghton, T.; Cruden, A.

    2010-01-01

    The authors propose a novel model for forecasting the deployment of hydrogen energy systems based on a company value maximisation algorithm, designed to assist governments and other industry players in decision-making and the development of appropriate policy instruments. Current cost-minimisation approaches, such as MARKAL, have limitations particularly where price arbitrage between energy streams exists. A theoretical relationship between market sector valuations and investment activity is developed and the model is subsequently applied to the Scottish hydrogen energy market. Through the utilisation of net present value, revenue and profitability based valuations, the impact of investing in hydrogen energy infrastructure projects on three key market competitors is considered. It is shown that the three methods for calculating the value impact render different results suggesting that the use of a single method to assess forecast development scenarios, whether cost or value-based methods, may be misleading and that the holistic approach proposed is more realistic. The archivable value of this paper is to demonstrate the impact that investor expectations can have on investment decisions, a facet not captured in traditional methods of forecasting. (author)

  12. Coupled energy and reactive power market clearing considering power system security

    International Nuclear Information System (INIS)

    Rabiee, Abdorreza; Shayanfar, Heidarali; Amjady, Nima

    2009-01-01

    In a deregulated environment, when talking about electricity markets, one usually refers to energy market, paying less attention to the reactive power market. Active and reactive powers are, however, coupled through the AC power flow equations and branch loading limits as well as the synchronous generators capability curves. However, the sequential approach for energy and reactive power markets cannot present the optimal solution due to the interactions between these markets. For instance, clearing of the reactive power market can change active power dispatch (e.g. due to a change of transmission system losses and the capability curve limitation), which can lead to degradation of the energy market clearing point. This paper presents a coupled day ahead energy and reactive power market based on the pay-at-MCP settlement mechanism. Besides, the proposed coupled framework considers voltage stability and security issues and branch loading limits. The coupled market is cleared through optimal power flow (OPF). Its objective function includes total payment of generating units for their active power production along with the total payment function (TPF) of units for their reactive power compensation. Moreover, lost opportunity cost (LOC) of the units is also considered. The effectiveness of the proposed framework is examined on the IEEE 24 bus Reliability Test System

  13. Coupled energy and reactive power market clearing considering power system security

    Energy Technology Data Exchange (ETDEWEB)

    Rabiee, Abdorreza; Shayanfar, Heidarali [Center of Excellence for Power System Automation and Operation, Electrical Engineering Department, Iran University of Science and Technology (IUST), Tehran (Iran); Amjady, Nima [Department of Electrical Engineering, Semnan University, Semnan (Iran)

    2009-04-15

    In a deregulated environment, when talking about electricity markets, one usually refers to energy market, paying less attention to the reactive power market. Active and reactive powers are, however, coupled through the AC power flow equations and branch loading limits as well as the synchronous generators capability curves. However, the sequential approach for energy and reactive power markets cannot present the optimal solution due to the interactions between these markets. For instance, clearing of the reactive power market can change active power dispatch (e.g. due to a change of transmission system losses and the capability curve limitation), which can lead to degradation of the energy market clearing point. This paper presents a coupled day ahead energy and reactive power market based on the pay-at-MCP settlement mechanism. Besides, the proposed coupled framework considers voltage stability and security issues and branch loading limits. The coupled market is cleared through optimal power flow (OPF). Its objective function includes total payment of generating units for their active power production along with the total payment function (TPF) of units for their reactive power compensation. Moreover, lost opportunity cost (LOC) of the units is also considered. The effectiveness of the proposed framework is examined on the IEEE 24 bus Reliability Test System. (author)

  14. Efficient integration of renewable energies in the German electricity market

    International Nuclear Information System (INIS)

    Nabe, C.A.

    2006-01-01

    Liberalisation of the electricity sector aims to carry out coordination tasks within the system by markets and market prices. This study examines how markets need to be designed to carry out coordination tasks caused by integration of renewable energies in an efficient way. This question is applied to the German electricity system and recommendations are derived from identified deficits. The examination uses the structure-conduct-performance approach of industrial organisation economics. Integration of renewable energies does not result in entirely new coordination tasks but complicates those that exist in any electricity supply system. Within the short-term coordination tasks provision and operation of reserve capacity is affected by renewable energies. Long-term coordination means that the relation between fixed and variable costs of generators as well as generator flexibility has to be adjusted to the characteristics of renewable energies. The relevant short-term coordination task with the network is congestion management. In the long run costs of grid expansion and permanent congestion management have to be balanced. For the execution of short-run coordination tasks integrated and centralised market architectures are superior to decentralised architectures. The increase of short-term coordination tasks due to renewable energies caused by inflexibilities of consumers and conventional generators results in more information that has to be considered. By centralising that information in one market, an increase in productive efficiency can be obtained. In Germany the increased coordination tasks are determined by the integration of wind generators into the electricity system. The present German market architecture results in inefficiencies in short-term coordination. This is demonstrated by an analysis of procedural rules and prices of the ancillary service markets. They demonstrate that market performance is low and significant deviations from competitive prices

  15. Battery energy storage market feasibility study - Expanded report

    International Nuclear Information System (INIS)

    Kraft, S.; Akhil, A.

    1997-09-01

    Under the sponsorship of the US Department of Energy's Office of Utility Technologies, the Energy Storage Systems Analysis and Development Department at Sandia National Laboratories (SNL) contracted Frost and Sullivan to conduct a market feasibility study of energy storage systems. The study was designed specifically to quantify the battery energy storage market for utility applications. This study was based on the SNL Opportunities Analysis performed earlier. Many of the groups surveyed, which included electricity providers, battery energy storage vendors, regulators, consultants, and technology advocates, viewed battery storage as an important technology to enable increased use of renewable energy and as a means to solve power quality and asset utilization issues. There are two versions of the document available, an expanded version (approximately 200 pages, SAND97-1275/2) and a short version (approximately 25 pages, SAND97-1275/1)

  16. Contracting of energy services in Switzerland. Development, effects, market potentials

    International Nuclear Information System (INIS)

    Muggli, C.; Baumgartner, W.; Kohn, L.

    1999-06-01

    The authors of this detailed report first define the contracting of energy services, this new reality of the market place, and analyse its current status in Switzerland. Contracting is mainly to be understood as the delegation of certain energy-related services by a company. The total investment for the operated energy systems considered by the study is about 120 millions USD, with an installed power of 160 MW. This market is highly unhomogeneous and is the answer to various goals. Globally, it brings a more efficient use of energy, including a more frequent involvement of renewable energy sources, along with a lower risk and significant advantages for all contractors. That is the reason for the energy policy authority to recommend contracting. The report goes on with the analysis of the factors leading the chief executives to consider contracting of energy services, or on the contrary to exclude it. The authors estimate the realistic potential market for contracting in Switzerland to 650 millions USD for the period 1999-2004. They conclude by giving recommendations which should result in an acceleration of the contracting's development on the market place

  17. Regulating deregulated energy markets

    International Nuclear Information System (INIS)

    Jackson, M.

    2002-01-01

    The North American gas and electricity markets are fast evolving, and regulators are currently faced with a host of issues such as market-based rates, unbundling, stranded costs, open access, and incentive regulation are surfacing as a result of deregulation. The regulatory environment in Ontario was reviewed by the author. Deregulated markets rule, from commodities to gas and electricity. Additionally, there is an evolution of traditional utility regulation. A look at deregulated markets revealed that there are regulations on boundary conditions on the deregulated market. Under the Ontario Energy Board (OEB), all generators, transmitters, distributors, and retailers of electricity must be licensed. The standard supply service (SSS) offered by electricity distributors and system gas which is still being sold by natural gas distributors continues to be regulated by OEB. One issue that was addressed was separation for revenues and costs of the utility's purchase and sale of gas business, at least for accounting purposes. The next issue discussed was cost of system gas and SSS, followed by timely signals and prudent incurred costs. Historical benefits were reviewed, such as historical commitments to low-cost electricity. Pooling transportation costs, transmission pricing continued, market-based rates, unbundling, stranded costs, open access, incentive regulation/ performance based regulation (PBR) were all discussed. Price cap on PBR, both partial and comprehensive were looked at. A requirement to review guidelines on cost of capital and an application to extend blanket approval provisions for gas storage were discussed, as they are amongst some of the challenges of the future. Other challenges include revised rules and practice and procedure; practice directions for cost awards, appeals, and other functions; confidentiality guidelines; and refinements to the role of and approaches to alternative dispute resolution. The future role of regulators was examined in light

  18. Modelling Danish local CHP on market conditions

    DEFF Research Database (Denmark)

    Ravn, Hans V.; Riisom, Jannik; Schaumburg-Müller, Camilla

    2004-01-01

    with the liberalisation process of the energy sectors of the EU countries, it is however anticipated that Danish local CHP are to begin operating on market conditions within the year 2005. This means that the income that the local CHPs previously gained from selling electricity at the feed-in tariff is replaced in part...... the consequences of acting in a liberalised market for a given CHP plant, based on the abovementioned bottom-up model. The key assumption determining the bottom line is the electricity spot price. The formation of the spot price in the Nordic area depends heavily upon the state of the water reservoirs in Norway...

  19. The true and fake advantages of opening energy markets

    International Nuclear Information System (INIS)

    Maillard, D.

    2000-01-01

    The energy market used to be restricted to a small number of operators who often held a monopoly. To clarify the debate, now more than ten years old, about opening up this