WorldWideScience

Sample records for rapid fuel price

  1. Rapid fuel switching from coal to natural gas through effective carbon pricing

    Science.gov (United States)

    Wilson, I. A. Grant; Staffell, Iain

    2018-05-01

    Great Britain's overall carbon emissions fell by 6% in 2016, due to cleaner electricity production. This was not due to a surge in low-carbon nuclear or renewable sources; instead it was the much-overlooked impact of fuel switching from coal to natural gas generation. This Perspective considers the enabling conditions in Great Britain and the potential for rapid fuel switching in other coal-reliant countries. We find that spare generation and fuel supply-chain capacity must already exist for fuel switching to deliver rapid carbon savings, and to avoid further high-carbon infrastructure lock-in. More important is the political will to alter the marketplace and incentivize this switch, for example, through a stable and strong carbon price. With the right incentives, fuel switching in the power sector could rapidly achieve on the order of 1 GtCO2 saving per year worldwide (3% of global emissions), buying precious time to slow the growth in cumulative carbon emissions.

  2. Why fuel prices differ

    International Nuclear Information System (INIS)

    Rietveld, P.; Woudenberg, S. van

    2005-01-01

    Fuel taxes differ largely between countries. This paper reviews a number of considerations from the theory of public finance that may explain these differences. Based on a multiple regression model, we find for tax competition in Europe that small countries tend to be more aggressive than large countries by charging lower fuel taxes to attract customers from neighbouring countries. There is strong evidence that fuel is just considered as one of the many sources for government expenditure: as the share of government expenditure in GDP is higher, the fuel tax tends to be higher. No support is found for the hypothesis that fuel taxes are higher in countries where externality problems are more severe (proxied by car density of the country). In this respect, the normative literature on pricing externalities has found little support in the realities of transport policy. (author)

  3. Motor fuel prices in Turkey

    International Nuclear Information System (INIS)

    Erdogdu, Erkan

    2014-01-01

    The world's most expensive motor fuel (gasoline, diesel and LPG) is sold most likely in the Republic of Turkey. This paper investigates the key issues related to the motor fuel prices in Turkey. First of all, the paper analyses the main reason behind high prices, namely motor fuel taxes in Turkey. Then, it estimates the elasticity of motor fuel demand in Turkey using an econometric analysis. The findings indicate that motor fuel demand in Turkey is quite inelastic and, therefore, not responsive to price increases caused by an increase in either pre-tax prices or taxes. Therefore, fuel market in Turkey is open to opportunistic behavior by firms (through excessive profits) and the government (through excessive taxes). Besides, the paper focuses on the impact of high motor fuel prices on road transport associated activities, including the pattern of passenger transportation, motorization rate, fuel use, total kilometers traveled and CO 2 emissions from road transportation. The impact of motor fuel prices on income distribution in Turkey and Turkish public opinion about high motor fuel prices are also among the subjects investigated in the course of the study. - Highlights: • The key issues (e.g. taxes) related to motor fuel prices in Turkey are explored. • Their impact on transport activities and income distribution is also investigated. • An econometric analysis is performed to estimate motor fuel demand in Turkey. • Motor fuel demand in Turkey is found to be quite inelastic. • Turkish fuel market is open to opportunistic behavior by firms and the government

  4. Higher fuel and food prices

    DEFF Research Database (Denmark)

    Arndt, Channing; Benfica, Rui; Maximiano, Nelson

    2008-01-01

    of Mozambique indicates that the fuel price shock dominates rising food prices from both macroeconomic and poverty perspectives. Again, negative impacts are larger in urban areas. The importance of agricultural production response in general and export response in particular is highlighted. Policy analysis...... analysis indicates that urban households and households in the southern region are more vulnerable to food price increases. Rural households, particularly in the North and Center, often benefit from being in a net seller position. Longer-term analysis using a computable general equilibrium (CGE) model...

  5. FUEL PRICES AND CAR SALES

    OpenAIRE

    Vlad Cârstea

    2008-01-01

    Automotive industry is a very important economic sector that is highly responsive to changes in the world economy. The fuel price is the biggest enemy of car manufacturers. This is a compared analysis between Europe and Romania regarding new car registrations.

  6. Fuel price and supply projections, 1980 to 2000

    International Nuclear Information System (INIS)

    1980-06-01

    In 1978, over 95% of California's energy was derived from conventional fuels - oil, natural gas, coal, and uranium. Approximately one-third of these conventional fuels was produced within the state, the remaining two-thirds coming from other states and foreign countries. Dependence on these fuels is not likely to diminish rapidly in the near future, therefore the factors that contribute to the future supplies and prices of these fuels will have a major influence on the state's energy future. This report serves as a basis for Commission analysis and is also intended as a tool to be used by others who must make decisions involving the future cost and availability of fuels. This report documents the staff's projections on future supply, price, and availability of these fuels and presents information on historical fuel use and price for background and perspective. Analyses of commercially developable derived fuels and of recent Federal statutory restrictions on the use of oil and gas are also presented. These analyses include economic, logistic, environmental, geologic, and social and institutional considerations. This report does not focus on the costs included in fuel production and preparation; nor does the report go into detail on the transportation, disposal, and downstream costs of the various fuels

  7. 10 CFR Appendix II to Part 504 - Fuel Price Computation

    Science.gov (United States)

    2010-01-01

    ... DEPARTMENT OF ENERGY (CONTINUED) ALTERNATE FUELS EXISTING POWERPLANTS Pt. 504, App. II Appendix II to Part... effects of future real price increases for each fuel. The delivered price of an alternate fuel used to calculate delivered fuel expenses must reflect the petitioner's delivered price of the alternate fuel and...

  8. Fuel Price Effects on Readiness

    Science.gov (United States)

    2014-05-01

    have also excluded liquefied propane gas ( LPG ), from this study. 10 through four IDIQ...Wide Fuel Management 1. DLA’s Role DLA-E has the mission of acquiring, storing, selling, and distributing energy including petroleum, natural gas ...energy, and installations also use energy in the form of electricity (11 percent), natural gas (8 percent), and coal (2 percent). See Schwartz, Blakely

  9. Predicting Argentine Jet Fuel Prices

    Science.gov (United States)

    2007-03-01

    economics, engineering, and the social and biological sciences (Kutner, 2005:2), but successful application of this method requires not only a deep...situations that affected the country. This crisis had politic, economic and social implications. Five presidents governed in a two month period. The...Scheimberg Sebastian. “Comentario al trabajo de German Coloma: Analisys of the behavior of the Argentine fuel market”. Political Economy Asociation

  10. Ethanol, Corn, and Soybean Price Relations in a Volatile Vehicle-Fuels Market

    Directory of Open Access Journals (Sweden)

    Cesar Escalante

    2009-06-01

    Full Text Available The rapid upward shift in ethanol demand has raised concerns about ethanol’s impact on the price level and volatility of agricultural commodities. The popular press attributes much of this volatility in commodity prices to a price bubble in ethanol fuel and recent deflation. Market economics predicts not only a softening of demand to high commodity prices but also a positive supply response. This volatility in ethanol and commodity prices are investigated using cointegration, vector error corrections (VECM, and multivariate generalized autoregressive conditional heteroskedascity (MGARCH models. In terms of derived demand theory, results support ethanol and oil demands as derived demands from vehicle-fuel production. Gasoline prices directly influence the prices of ethanol and oil. However, of greater significance for the fuel versus food security issue, results support the effect of agricultural commodity prices as market signals which restore commodity markets to their equilibriums after a demand or supply event (shock. Such shocks may in the short-run increase agricultural commodity prices, but decentralized freely operating markets will mitigate the persistence of these shocks. Results indicate in recent years there are no long-run relations among fuel (ethanol, oil and gasoline prices and agricultural commodity (corn and soybean prices.

  11. A long-term view of worldwide fossil fuel prices

    International Nuclear Information System (INIS)

    Shafiee, Shahriar; Topal, Erkan

    2010-01-01

    This paper reviews a long-term trend of worldwide fossil fuel prices in the future by introducing a new method to forecast oil, natural gas and coal prices. The first section of this study analyses the global fossil fuel market and the historical trend of real and nominal fossil fuel prices from 1950 to 2008. Historical fossil fuel price analysis shows that coal prices are decreasing, while natural gas prices are increasing. The second section reviews previously available price modelling techniques and proposes a new comprehensive version of the long-term trend reverting jump and dip diffusion model. The third section uses the new model to forecast fossil fuel prices in nominal and real terms from 2009 to 2018. The new model follows the extrapolation of the historical sinusoidal trend of nominal and real fossil fuel prices. The historical trends show an increase in nominal/real oil and natural gas prices plus nominal coal prices, as well as a decrease in real coal prices. Furthermore, the new model forecasts that oil, natural gas and coal will stay in jump for the next couple of years and after that they will revert back to the long-term trend until 2018. (author)

  12. Food versus fuel: What do prices tell us?

    International Nuclear Information System (INIS)

    Zhang Zibin; Lohr, Luanne; Escalante, Cesar; Wetzstein, Michael

    2010-01-01

    Sorting out the impacts of biofuels on global agricultural commodity prices is impossible without turning to data and distinguishing between the short-run versus the long-run impacts. Using time-series prices on fuels and agricultural commodities, the aim is to investigate the long-run cointegration of these prices simultaneously with their multivariate short-run interactions. Results indicate no direct long-run price relations between fuel and agricultural commodity prices, and limited if any direct short-run relationships. In terms of short-run price movements, sugar prices are influencing all the other agricultural commodity prices except rice. With sugar the number one world input for ethanol, results indicate increased ethanol production is potentially influencing short-run agricultural commodity prices. Overall, results support the effect of agricultural commodity prices as market signals which restore commodity markets to their equilibria after a demand or supply event (shock).

  13. Retail fuel price adjustment in Germany: A threshold cointegration approach

    International Nuclear Information System (INIS)

    Asane-Otoo, Emmanuel; Schneider, Jan

    2015-01-01

    Consumers in Germany often complain that retail fuel prices usually adjust quickly to crude oil price increases than decreases and characterize this pricing pattern as market power exploitation. In this paper, we use both weekly national and daily city-specific (Berlin, Hamburg, Munich and Cologne) data to investigate the extent to which retail fuel prices in Germany adjust to changes in the international crude oil price. At the national level with weekly prices, we find positive asymmetries for both gasoline and diesel within the period 2003–2007, reflecting that retail prices react more swiftly to crude oil price increases than decreases. In contrast, for 2009–2013, we observe symmetric adjustment and negative asymmetry for retail diesel and gasoline prices, respectively. The city level analysis supports our findings in the latter time period. Thus, regulatory measures aimed at the retail fuel market over recent years seem to have been effective, and, contrary to consumers' perception, we find no evidence for excessive market power or collusion. - Highlights: • The paper examines the adjustment of German retail fuel (gasoline and diesel) prices to international crude oil price changes. • An error correction model with threshold cointegration is used to investigate the price dynamics. • The findings generally point to a competitive retail fuel pricing, notwithstanding the oligopolistic market structure

  14. Biodiesel as a motor fuel price stabilization mechanism

    International Nuclear Information System (INIS)

    Serra, Teresa; Gil, José M.

    2012-01-01

    This article studies the capacity of biofuels to reduce motor fuel price fluctuations. For this purpose, we study dependence between crude oil and biodiesel blend prices in Spain. Copula models are used for this purpose. Results suggest that the practice of blending biodiesel with diesel can protect consumers against extreme crude oil price increases. - Highlights: ► We study the capacity of biofuels to reduce fuel price fluctuations. ► We focus on Spanish biodiesel market. ► Biodiesel and crude oil price dependence is studied using copula functions. ► Biodiesel can protect consumers against extreme crude oil price increases.

  15. Fuel switching? Demand destruction? Gas market responses to price spikes

    International Nuclear Information System (INIS)

    Lippe, D.

    2004-01-01

    This presentation defined fuel switching and addressed the issue regarding which consumers have the capability to switch fuels. In response to short term price aberrations, consumers with fuel switching capabilities reduce their use of one fuel and increase consumption of an alternative fuel. For example, natural gas consumption by some consumers declines in response to price spikes relative to prices of alternative fuels. This presentation also addressed the issue of differentiating between fuel switching and demand destruction. It also demonstrated how to compare gas prices versus alternative fuel prices and how to determine when consumers will likely switch fuels. Price spikes have implications for long term trends in natural gas demand, supply/demand balances and prices. The power generating sector represents a particular class of gas consumers that reduce operating rates of gas fired plants and increase operating rates of other plants. Some gas consumers even shut down plants until gas prices declines and relative economies improve. Some practical considerations for fuel switching include storage tank capacity, domestic refinery production, winter heating season, and decline in working gas storage. tabs., figs

  16. The economic cost of fuel price subsidies in Ghana

    Science.gov (United States)

    Ofori, Roland Oduro

    I adapt the Harberger formula for deadweight loss to develop approximations for the deadweight loss created by multiple fuel price subsidies. I also estimate the own-price, cross-price, and income elasticities of demand for gasoline and diesel in Africa. I use data on fuel prices and sales in combination with my formulas and elasticity estimates to calculate the deadweight loss of fuel price subsidies in Ghana from 2009 to 2014. I show that the average efficiency cost of the gasoline and diesel price subsidies in Ghana is 0.8% of fuel price subsidy transfers. This result stresses the futility of basing subsidy reforms on economic efficiency losses, which are relatively small due to very inelastic energy demand, and the need for such reforms to be motivated by the poor-targeting of subsidies to low-income households and the impact of subsidies on government debt-financing.

  17. Implicit CO_2 prices of fossil fuel use in Switzerland

    International Nuclear Information System (INIS)

    Schleiniger, Reto

    2016-01-01

    This study aims to assess the efficiency of the fossil fuel taxation scheme currently in effect in Switzerland. To this end, the concept of implicit CO_2 prices is introduced, based on which prices for different fossil fuel uses are derived. Implicit CO_2 prices are defined as the difference between actual prices paid by consumers and efficient domestic fuel prices. Efficient domestic fuel prices, in turn, consist of private production costs, a uniform value added tax and only local external costs, not including external costs due to CO_2 emissions and global climate change. The resulting prices differ substantially, which suggests that there is considerable cost-saving potential in reducing CO_2 emissions in Switzerland. For passenger cars and air traffic, the implicit prices are negative. For these uses, higher fuel charges would therefore be beneficial from a purely domestic perspective, i.e., without considering the negative repercussions of global warming. - Highlights: •Efficient fossil fuel policy must take into account local and global externalities. •Implicit CO_2 prices are applied as efficiency indicator of fossil energy policy. •Implicit CO_2 prices vary strongly for different fossil fuel uses in Switzerland. •There is a large cost-saving potential in terms of reducing CO_2 emissions.

  18. Regional prices in the Swedish wood-fuel market

    International Nuclear Information System (INIS)

    Hillring, Bengt

    1999-01-01

    This paper analyses, through a statistical survey, the regional distribution of prices on the commercial wood-fuel market for district heating plants and the pellets market for single family houses. The existing market watch of the national Swedish wood-fuel market has been developed for both refined and unrefined wood-fuels. The last five years the trend for wood-fuel prices on the district heating market has been stable, with a slight increase in the price of refined wood-fuels. However, on the young and fast-growing household market for pellets, prices have increased 12% during the last three years. The distribution of prices for northern, middle and southern Sweden indicates differences within 5% between the regions. The limited price difference between Swedish regions are a product of a large domestic supply and an increasing trade among regions in Europe, putting pressure on prices. Regional differences, mirrored as transportation distances and local production costs are key factors that could explain this regional price variation. However, the development of a commercial market with less regulation tends to level out prices. Consumers on the household market purchase small quantities and do not have the same possibility as district heating companies to take advantage of the oversupply opportunity and thus face a faster price development. The weaker market position of the consumers also tends to give homogeneous prices between regions of the residential sector. (Author)

  19. Wood fuel price survey for 2008 and 2009. Synthesis

    International Nuclear Information System (INIS)

    2010-01-01

    Based on interviews on telephone with wood fuel vendors and wholesalers, pellet producers, local community boiler managers, and individuals, this study, while giving several data figures and tables, proposes a price analysis for the housing sector (price evolution for individuals for different kinds and sizes of fuel woods), a comparison with other fuels and energies (electricity, gas) whether wood is used as the primary or secondary heating mean. It also comments the price scattering. It proposes the same kind of analysis for local communities

  20. Fuel prices around the world: From prosperity to turmoil

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This issue examines price changes of petroleum products in some 40 countries around the world. Both political turmoil and economic prosperity shape government policy in managing consumer prices of petroleum products. Brazil has experienced extreme political and economic instability that sent prices skyrocketing and the national currency plummeting. Meanwhile, economic growth in South Korea has given the population the wealth for automobiles and stretched the country's ability to supply its unquenchable demand. Fuel prices around the world were higher in July 1992 than in January 1992, mainly due to higher crude prices. This issue also presents the following: (1) the ED Refining Netback Data Series for the US Gulf and West Coasts, Rotterdam, and Singapore as of October 23, 1992; and (2) the ED Fuel Price/Tax Series for countries of the Eastern Hemisphere, October 1992 edition

  1. Price transparency on the market for automotive fuels. Final report

    International Nuclear Information System (INIS)

    Meindert, L.; Van Schijndel, M.; Volkerink, B.

    2011-05-01

    The objective of this study is to answer the main question: which bottlenecks may obstruct the road to up-to-date, reliable and fully market covering price comparison services for the Dutch market for automotive fuels. [nl

  2. Transportation fuel prices around the world, first half 1993

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    This survey of 41 countries reveals that while most countries experienced higher prices in national currencies, a stronger dollar resulted in lower U.S. dollar adjusted fuel prices during the first half of the year. Currency exchange rate depreciation against the dollar was the predominant fact around the world

  3. Economics of National Waste Terminal Storage Spent Fuel Pricing Study

    International Nuclear Information System (INIS)

    1978-05-01

    The methodology for equitably pricing commercial nuclear spent fuel management is developed, and the results of four sample calculations are presented. The spent fuel management program analyzed places encapsulated spent fuel in bedded salt while maintaining long-term retrievability. System design was reasonable but not optimum. When required, privately-owned Away From Reactor (AFR) storage is provided and the spent fuel placed in AFR storage is eventually transported to final storage. Applicable Research and Development and Government Overhead are included. The cost of each component by year was estimated from the most recent applicable data source available. These costs were input to the pricing methodology to establish a one-time charge whose present value exactly recovered the present value of the expenditure flow. The four cases exercised were combinations of a high and a low quantity of spent fuel managed, with a single repository (venture) or a multiple repository (campaign) approach to system financial structure. The price for spent fuel management calculated ranged from 116 to 152 dollars (1978) per kilogram charged initially to the reactor. The effect of spent fuel receiving rate on price is illustrated by the fact that the extremes of price did not coincide with the cases having the extremes of undiscounted cost. These prices for spent fuel management are comparable in magnitude to other fuel cycle costs. The range of variation is small because of compensating effects, i.e., additional costs for high early deliveries (AFR and transportation) versus lower present value of future revenue for later delivery cases. The methodology contains numerous conservative assumptions, provisions for contingencies, and covers the complete set of spent fuel management expenses

  4. Prices, taxes and automotive fuel cross-border shopping

    International Nuclear Information System (INIS)

    Leal, Andres; Lopez-Laborda, Julio; Rodrigo, Fernando

    2009-01-01

    The aim of the present paper is to determine whether differences in automotive fuel prices among neighboring Autonomous Communities (i.e. Spanish political-administrative regions) affect the decisions taken by individuals regarding the region in which to purchase fuel. In particular, the intention is to discover if price increases in certain Autonomous Communities, as a result of the application of the regional tranche of the Hydrocarbon Retail Sales Tax (HRST) has affected fuel purchases in neighboring Communities. In order to achieve the above-mentioned objectives, the monthly purchases of automotive diesel in Aragon between January 2001 and March 2007 is estimated from the fuel price in Aragon, the relation between prices in each of the bordering Communities and Aragon, weighted by density of traffic, the number of vehicles registered in that Community, and three dummy variables representative of the implementation of the regional tranche of the HRST in Madrid, Catalonia, and Valencia. The paper finds empirical evidence to demonstrate a positive effect of the relative prices in the neighboring Communities and vehicle registrations, and also a negative effect of prices in Aragon, upon the acquisition of diesel in this region. In the case of Catalonia, some evidence suggests that the price effect may have been strengthened following the introduction of the regional tranche of the HRST in August 2004. (author)

  5. The price of fuel oil for power generation

    International Nuclear Information System (INIS)

    Hsu, G.J.Y.; Liaw, Y.Y.C.

    1987-01-01

    This study establishes a break-even analysis model for fuel oil generation. The authors calculate the break-even points of the international fuel oil prices for the existing coal-fired power plants, the nuclear power plants and the newly-built coal/oil-fired power plants

  6. Ambiguities of fighting inflation: structure of alcohol fuel prices

    International Nuclear Information System (INIS)

    Nastari, Plinio Mario

    1993-01-01

    The control of consumer prices of alcohol fuel and gasoline has been used by the Brazilian government as a tool for fighting inflation. The production of alcohol fuel from biomass and the use of its by-products is one of the few strategies that will permit economic development and environmental preservation at the same time. While the pricing policy continues to determine the energy policy, it will be almost impossible to promote the production and the use of alcohol fuel in the country

  7. Higher fuel prices are associated with lower air pollution levels.

    Science.gov (United States)

    Barnett, Adrian G; Knibbs, Luke D

    2014-05-01

    Air pollution is a persistent problem in urban areas, and traffic emissions are a major cause of poor air quality. Policies to curb pollution levels often involve raising the price of using private vehicles, for example, congestion charges. We were interested in whether higher fuel prices were associated with decreased air pollution levels. We examined an association between diesel and petrol prices and four traffic-related pollutants in Brisbane from 2010 to 2013. We used a regression model and examined pollution levels up to 16 days after the price change. Higher diesel prices were associated with statistically significant short-term reductions in carbon monoxide and nitrogen oxides. Changes in petrol prices had no impact on air pollution. Raising diesel taxes in Australia could be justified as a public health measure. As raising taxes is politically unpopular, an alternative political approach would be to remove schemes that put a downward pressure on fuel prices, such as industry subsidies and shopping vouchers that give fuel discounts. Copyright © 2014 Elsevier Ltd. All rights reserved.

  8. Rapid scanning system for fuel drawers

    International Nuclear Information System (INIS)

    Caldwell, J.T.; Fehlau, P.E.; France, S.W.

    1981-01-01

    A nondestructive method for uniqely distinguishing among and quantifying the mass of individual fuel plates in situ in fuel drawers utilized in nuclear reactors is described. The method is both rapid and passive, eliminating the personnel hazard of the commonly used irradiation techniques which require that the analysis be performed in proximity to an intense neutron source such as a reactor. In the present technique, only normally decaying nuclei are observed. This allows the analysis to be performed anywhere. This feature, combined with rapid scanning of a given fuel drawer (in approximately 30 s), and the computer data analysis allows the processing of large numbers of fuel drawers efficiently in the event of a loss alert

  9. Light-duty vehicle fuel economy improvements, 1979--1998: A consumer purchase model of corporate average fuel economy, fuel price, and income effects

    Science.gov (United States)

    Chien, David Michael

    2000-10-01

    The Energy Policy and Conservation Act of 1975, which created fuel economy standards for automobiles and light trucks, was passed by Congress in response to the rapid rise in world oil prices as a result of the 1973 oil crisis. The standards were first implemented in 1978 for automobiles and 1979 for light trucks, and began with initial standards of 18 MPG for automobiles and 17.2 MPG for light trucks. The current fuel economy standards for 1998 have been held constant at 27.5 MPG for automobiles and 20.5 MPG for light trucks since 1990--1991. While actual new automobile fuel economy has almost doubled from 14 MPG in 1974 to 27.2 MPG in 1994, it is reasonable to ask if the CAFE standards are still needed. Each year Congress attempts to pass another increase in the Corporate Average Fuel Economy (CAFE) standard and fails. Many have called for the abolition of CAFE standards citing the ineffectiveness of the standards in the past. In order to determine whether CAFE standards should be increased, held constant, or repealed, an evaluation of the effectiveness of the CAFE standards to date must be established. Because fuel prices were rising concurrently with the CAFE standards, many authors have attributed the rapid rise in new car fuel economy solely to fuel prices. The purpose of this dissertation is to re-examine the determinants of new car fuel economy via three effects: CAFE regulations, fuel price, and income effects. By measuring the marginal effects of the three fuel economy determinants upon consumers and manufacturers choices, for fuel economy, an estimate was made of the influence of each upon new fuel economy. The conclusions of this dissertation present some clear signals to policymakers: CAFE standards have been very effective in increasing fuel economy from 1979 to 1998. Furthermore, they have been the main cause of fuel economy improvement, with income being a much smaller component. Furthermore, this dissertation has suggested that fuel prices have

  10. Domestic fuel price and economic sectors in Malaysia: a future of renewable energy?

    OpenAIRE

    Jee, Hui-Siang Brenda; Lau, Evan; Puah, Chin-Hong; Abu Mansor, Shazali

    2010-01-01

    This study empirically examines the relation between the domestic fuel prices with the ten disaggregated economic sectors in Malaysia with the spanning of data from 1990:Q1 to 2007:Q4. We found that only three sectors (agriculture, trade and other services sectors) are cointegrated with the fuel price and fuel price does Granger cause these sectors. Despite the evidence of non-cointegrated in most of the economic sectors, fuel price able to influence these sectors over a longer period. Policy...

  11. An Empirical Analysis of the Price Discovery Function of Shanghai Fuel Oil Futures Market

    Institute of Scientific and Technical Information of China (English)

    Wang Zhen; Liu Zhenhai; Chen Chao

    2007-01-01

    This paper analyzes the role of price discovery of Shanghai fuel oil futures market by using methods, such as unit root test, co-integration test, error correction model, Granger causality test, impulse-response function and variance decomposition. The results showed that there exists a strong relationship between the spot price of Huangpu fuel oil spot market and the futures price of Shanghai fuel oil futures market. In addition, the Shanghai fuel oil futures market exhibits a highly effective price discovery function.

  12. No pressure on Slovnaft to lower fuel prices

    International Nuclear Information System (INIS)

    Beer, G.; Schoenwiesner, R.; Debnar, M.

    2004-01-01

    The Bratislava based refinery, Slovnaft has a dominant position on the Slovak fuel market. But this dominant market position is not specific to Slovakia - other national markets also have domestic producers with dominant positions. Fuel prices have increased substantially and the consumers are looking for a c ulprit' and have found it in the major player on the market. All those who are talking of 'record-breaking' fuel prices seem to have forgotten about inflation rates in recent years. But the situation on the Slovak market is not entirely standard. Slovak customers are right in objecting to the fact that fuel prices are often higher in Slovakia (pre-tax) than in neighbouring countries. But there is nothing to indicate this situation is likely to change. The consumption of petrol and diesel in Slovakia is growing. Many well-established companies have left the Slovak market and 50 competition is decreasing. And those that have stayed buy their fuel from Slovnaft and do not exercise any pressure on retail margins. Small independent distributors are not in a position to offer lower prices and they themselves are forced to decrease their margins. Slovnaft, controlled by the Hungarian company MOL, dictates the rules not only because its refineries produce 76% of all fuel sold on the Slovak market but also due to the fact that the company controls 39% of the retail network. It does not make a difference whether drivers stop at non--brand petrol stations, or use the petrol stations of international companies, nearly all companies operating in Slovakia buy their fuel from the Bratislava refinery with the exception of high octane petrol and winter diesel. Despite refinery over-capacity in Central Europe and the high number of producers operating within a small area, competition is not noticeable on the Slovak market. In theory, competition could be provided by the Polish refineries, the Czech refinery which imports under the JET brand, the Austrian owned OMV, the

  13. Price formation and market mechanisms in world nuclear fuel markets

    International Nuclear Information System (INIS)

    Neff, T.L.

    1991-01-01

    The structure of world markets for uranium, UF6 and enriched uranium product (EUP) have changed greatly since the 1970s. In the old model, firms specializing in mining, conversion, enrichment and fabrication played independent and sequential steps in the making of nuclear fuel. The great majority of users dealt directly with primary suppliers. Competition took place among suppliers at each stage of the fuel cycle and price formation occurred independently for each stage. Long-term contracts directly between primary supplier and end user dominated, whether for U3O8, conversion, enrichment or fabrication. The old model is effectively gone. uranium producers compete with traders, some of whom can offer a much larger menu of products and terms than primary suppliers. Where once there was a straight engineering-like sequence of processing from uranium to EUP for end use, today things are often reversed and far more complicated, with de-enrichment, de-conversion, loans, swaps, and other transactions. Those able to bring financial and entrepreneurial skills to bear on this complexity have an advantage. Long-term contracts between primary producers and end users no longer dominate new transactions, especially in the critical role of price formation - the process of determining or discovery of the market price. These changes have raised the question of whether participants in the nuclear fuel market need, or could benefit from, new institutional mechanisms, specifically some sort of formal exchange or commodity market

  14. Fuel price impacts and compliance costs associated with the Renewable Fuel Standard (RFS)

    International Nuclear Information System (INIS)

    Christensen, Adam; Siddiqui, Sauleh

    2015-01-01

    US policy instruments concerning vehicle biofuels are currently being revisited. For example, as part of an on-going annual Renewable Fuel Standard (RFS) implementation, the Environmental Protection Agency (EPA) requests stakeholder feedback/analysis of programmatic effects, including impacts on gasoline/diesel prices and compliance costs. Motivated by the need for regulatory-specific feedback, a novel regional market model is developed that quantifies price impacts across different regional markets for a number of market variables, including several types of compliance certificates known as Renewable Identification Numbers (RINs). An analysis of the most recent EPA proposal suggests that the D4 (biodiesel) RIN price could rise to >$1.00/RIN. Sensitivity results show that the D4 RIN price is highly sensitive to soybean oil prices, while D5/D6 RIN prices are most sensitive to the volume of E85 consumed. It was found that the projected costs associated with the RFS in 2017 could be reduced by approximately 50% if an additional 600 million gallons of E85 were consumed. The analysis also suggests that the RFS does not dramatically affect the retail price of either gasoline and diesel fuels paid by consumers. - Highlights: • The most recent EPA could cause the biodiesel RIN price to rise to >$1.00/RIN. • D5/D6 RIN prices are most sensitive to the volume of E85 consumed. • Retail prices for fuel do not change dramatically. • 2017 compliance costs could fall by 50% if more E85 were consumed.

  15. The importance of vehicle costs, fuel prices, and fuel efficiency to HEV market success.

    Energy Technology Data Exchange (ETDEWEB)

    Santini, D. J.; Patterson, P. D.; Vyas, A. D.

    1999-12-08

    Toyota's introduction of a hybrid electric vehicle (HEV) named ''Prius'' in Japan and Honda's proposed introduction of an HEV in the United States have generated considerable interest in the long-term viability of such fuel-efficient vehicles. A performance and cost projection model developed entirely at Argonne National Laboratory (ANL) is used here to estimate costs. ANL staff developed fuel economy estimates by extending conventional vehicle (CV) modeling done primarily under the National Cooperative Highway Research Program. Together, these estimates are employed to analyze dollar costs vs. benefits of two of many possible HEV technologies. We project incremental costs and fuel savings for a Prius-type low-performance hybrid (14.3 seconds zero to 60 mph acceleration, 260 time) and a higher-performance ''mild'' hybrid vehicle, or MHV (11 seconds 260 time). Each HEV is compared to a U.S. Toyota Corolla with automatic transmission (11 seconds 260 time). The base incremental retail price range, projected a decade hence, is $3,200-$3,750, before considering battery replacement cost. Historical data are analyzed to evaluate the effect of fuel price on consumer preferences for vehicle fuel economy, performance, and size. The relationship between fuel price, the level of change in fuel price, and consumer attitude toward higher fuel efficiency is also evaluated. A recent survey on the value of higher fuel efficiency is presented and U.S. commercial viability of the hybrids is evaluated using discount rates of 2090 and 870. Our analysis, with our current HEV cost estimates and current fuel savings estimates, implies that the U.S. market for such HEVS would be quite limited.

  16. Fuel cladding behavior under rapid loading conditions

    Science.gov (United States)

    Yueh, K.; Karlsson, J.; Stjärnsäter, J.; Schrire, D.; Ledergerber, G.; Munoz-Reja, C.; Hallstadius, L.

    2016-02-01

    A modified burst test (MBT) was used in an extensive test program to characterize fuel cladding failure behavior under rapid loading conditions. The MBT differs from a normal burst test with the use of a driver tube to simulate the expansion of a fuel pellet, thereby producing a partial strain driven deformation condition similar to that of a fuel pellet expansion in a reactivity insertion accident (RIA). A piston/cylinder assembly was used to pressurize the driver tube. By controlling the speed and distance the piston travels the loading rate and degree of sample deformation could be controlled. The use of a driver tube with a machined gauge section localizes deformation and allows for continuous monitoring of the test sample diameter change at the location of maximum hoop strain, during each test. Cladding samples from five irradiated fuel rods were tested between 296 and 553 K and loading rates from 1.5 to 3.5/s. The test rods included variations of Zircaloy-2 with different liners and ZIRLO, ranging in burn-up from 41 to 74 GWd/MTU. The test results show cladding ductility is strongly temperature and loading rate dependent. Zircaloy-2 cladding ductility degradation due to operational hydrogen pickup started to recover at approximately 358 K for test condition used in the study. This recovery temperature is strongly loading rate dependent. At 373 K, ductility recovery was small for loading rates less than 8 ms equivalent RIA pulse width, but longer than 8 ms the ductility recovery increased exponentially with increasing pulse width, consistent with literature observations of loading rate dependent brittle-to-ductile (BTD) transition temperature. The cladding ductility was also observed to be strongly loading rate/pulse width dependent for BWR cladding below the BTD temperature and Pressurized Water Reactor (PWR) cladding at both 296 and 553 K.

  17. Transport fuel demand responses to fuel price and income projections : Comparison of integrated assessment models

    NARCIS (Netherlands)

    Edelenbosch, O. Y.; van Vuuren, Detlef; Bertram, C.; Carrara, S.; Emmerling, J.; Daly, H.; Kitous, A.; McCollum, D. L.; Saadi Failali, N.

    Income and fuel price pathways are key determinants in projections of the energy system in integrated assessment models. In recent years, more details have been added to the transport sector representation in these models. To better understand the model dynamics, this manuscript analyses transport

  18. Carpooling and Driver Responses to Fuel Price Changes: Evidence from Traffic Flows in Los Angeles

    OpenAIRE

    Antonio M. Bento; Jonathan E. Hughes; Daniel T. Kaffine

    2012-01-01

    Understanding how drivers respond to fuel price changes has important implications for highway congestion, accidents, carbon policy, local air pollution and taxation. We examine the underexplored relationship between fuel prices and carpooling. Using a simple theoretical model we show that traffic flows in mainline lanes decrease when fuel prices increase. However in carpool (HOV) lanes, flow can either increase or decrease. Traffic flows in mainline lanes are shown to be more responsive to p...

  19. The pass through of oil prices into euro area consumer liquid fuel prices in an environment of high and volatile oil prices

    Energy Technology Data Exchange (ETDEWEB)

    Meyler, Aidan [European Central Bank, Frankfurt am Main (Germany)

    2009-11-15

    Crude and refined oil prices have been relatively high and volatile on a sustained basis since 1999. This paper considers the pass through of oil prices into consumer liquid (i.e. petrol, diesel and heating) fuel prices in such an environment. The pass through of oil prices into consumer liquid fuel prices has already been addressed extensively in the literature. Nonetheless much of this literature has either focused on the United States or on a time period when oil prices were relatively stable, or has used monthly data. The main contribution of this paper is a comprehensive combination of many features that have been considered before but rarely jointly. These features include: (1) the analysis of the euro area as an aggregate and a large number of countries (the initial 12 member states); (2) the consideration of different time periods; (3) the modelling of the data in raw levels rather than in log levels. This turns out to have important implications for our findings; (4) the use of high frequency (weekly) data, which, as results will suggest, are the lowest frequency one should consider; (5) the investigation of the different stages of the production chain from crude oil prices to retail distribution - refining costs and margins, distribution and retailing costs and margins; (6) the examination of prices including and excluding taxes - excise and value-added; (7) the modelling of prices for three fuel types - passenger car petrol and diesel separately and home heating fuel oil; (8) lastly we also address the issue of possible asymmetries, allowing for the pass through to vary according to (a) whether price are increasing or decreasing and (b) whether price levels are above or below their equilibrium level. The main findings are as follows: First, as distribution and retailing costs and margins have been broadly stable on average, the modelling of the relationship between consumer prices excluding taxes and upstream prices in raw levels rather than in

  20. The pass through of oil prices into euro area consumer liquid fuel prices in an environment of high and volatile oil prices

    International Nuclear Information System (INIS)

    Meyler, Aidan

    2009-01-01

    Crude and refined oil prices have been relatively high and volatile on a sustained basis since 1999. This paper considers the pass through of oil prices into consumer liquid (i.e. petrol, diesel and heating) fuel prices in such an environment. The pass through of oil prices into consumer liquid fuel prices has already been addressed extensively in the literature. Nonetheless much of this literature has either focused on the United States or on a time period when oil prices were relatively stable, or has used monthly data. The main contribution of this paper is a comprehensive combination of many features that have been considered before but rarely jointly. These features include: (1) the analysis of the euro area as an aggregate and a large number of countries (the initial 12 member states); (2) the consideration of different time periods; (3) the modelling of the data in raw levels rather than in log levels. This turns out to have important implications for our findings; (4) the use of high frequency (weekly) data, which, as results will suggest, are the lowest frequency one should consider; (5) the investigation of the different stages of the production chain from crude oil prices to retail distribution - refining costs and margins, distribution and retailing costs and margins; (6) the examination of prices including and excluding taxes - excise and value-added; (7) the modelling of prices for three fuel types - passenger car petrol and diesel separately and home heating fuel oil; (8) lastly we also address the issue of possible asymmetries, allowing for the pass through to vary according to (a) whether price are increasing or decreasing and (b) whether price levels are above or below their equilibrium level. The main findings are as follows: First, as distribution and retailing costs and margins have been broadly stable on average, the modelling of the relationship between consumer prices excluding taxes and upstream prices in raw levels rather than in

  1. Reduction of CO2 emissions by influencing fuel prices

    International Nuclear Information System (INIS)

    Keller, M.; Zbinden, R.; Haan, P.; Gruetter, J.; Ott, W.

    2002-01-01

    The CO 2 law stipulates quantitative targets for CO 2 emissions (reductions of 10% by 2010 compared with 1990, 15% for heating fuels, 8% for motor fuels). For motor fuels, it is currently estimated that the target will be missed by about 15%, or 2 to 2.5 million tonnes of CO 2 . In order to reach the targets, therefore, all measures that can be taken to reduce emissions are to be checked out and, where sensible and possible, implemented too. The subject of this study is the preferential treatment of diesel, natural gas, liquefied gas and bio-fuels as far as taxation is concerned, with compensation of tax losses on the petrol side. Also, the possibilities for promoting energy-efficient cars are looked at. The reduction of the price for diesel (at least 25 Swiss cents when compensated for via the petrol price) is considered to be unsuitable for reaching the targets because, in the final analysis, fuel sales - the determining factor for the CO 2 emissions that are charged to Switzerland - will increase instead of decreasing. Also, reservations are expressed from the environmental point of view (increased NO x emissions and, in particular, emissions of particulate matter). The modified measure proposed (fixed difference between the prices for petrol and diesel of 25 Swiss cents, for example) is looked at less critically, because it does actually lead to a reduction of CO 2 , even if only a modest one (approx. 10% of the gap to be bridged). On the environmental side, the same reservations apply. Bonus-malus systems, on the other hand, permit a selective choice of the objects of promotion (efficient and, possibly, low-emission vehicles), avoid the unjust preferential treatment of goods traffic and can be implemented without disturbing international price structures (fuel tourism). A bonus-malus system applied at purchase (e.g. different levels of car taxation) is considered to be more efficient than a differentiation in vehicle (road) tax. The promotion of gas is a

  2. Nuclear-fuel-cycle facility deployment and price generation

    International Nuclear Information System (INIS)

    Andress, D.A.

    1981-04-01

    The enrichment process and how it is to be modeled in the International Nuclear Model (INM) is described. The details of enrichment production, planning, unit price generation, demand estimation and ordering are examined. The enrichment process from both the producer's and the utility's point of view is analyzed. The enrichment separative-work-unit (SWU) contracts are also discussed. The relationship of the enrichment process with other sectors of the nuclear fuel cycle, expecially uranium mining and milling is considered. There are portions of the enrichment process that are not completely understood at the present time. These areas, which require further study, will be pinpointed in the following discussion. In many cases, e.g., the advent of SMU brokerage activities, the answers will emerge only in time. In other cases, e.g., political trends, uncertainties will always remain. It is possible to cast the uncertainties in a probabilistic framework, but this is beyond the scope of this report. INM, a comprehensive model of the international nuclear industry, simulates the market decision process based on current and future price expectations under a broad range of scenario specifications. INM determines the proper reactor mix as well as the planning, operation, and unit price generation of the attendant nuclear fuel cycle facilities. The level of detail of many of the enrichment activities presented in this report, e.g., the enrichment contracts, is too fine to be incorporated into INM. Nevertheless, they are presented in a form that is ammendable to modeling. The reasons for this are two-fold. First, it shows the level of complexity that would be required to model the entire system. Second, it presents the structural framework for a detailed, stand-alone enrichment model

  3. Six months after the Gulf war - Fuel prices and taxes around the world

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    During the first half of 1991, national average gasoline and diesel No. 2 fuel prices declined in many countries in terms of US dollars, due to the stronger US currency and weaker crude oil prices. However, in countries' own currencies, consumer prices were unchanged or higher than they were at the end of 1990. This issue of Energy Detente features findings from their ongoing Fuel Price/Tax Series and closely compares fuel price and tax levels around the world. This issue also presents the following: (1) the ED Refining Netback Data Series for the US Gulf and West Coasts, Rotterdam, and Singapore as of August 23, 1991; and (2) the ED Fuel Price/Tax Series for countries of the Eastern Hemisphere, August 1991 Edition. 6 figs., 11 tabs

  4. Driving for fun? Comparing the effect of fuel prices on weekday and weekend fuel consumption

    Energy Technology Data Exchange (ETDEWEB)

    Frondel, Manuel; Vance, Colin [Rheinisch-Westfaelisches Institut fuer Wirtschaftsforschung (RWI), Hohenzollernstr. 1-3, D-45128 Essen (Germany)

    2010-01-15

    Focusing on individual motorists in car-owning households in Germany, this paper investigates the determinants of automobile travel, with the specific aim of quantifying the effects of fuel prices and person-level attributes on travel conducted over a five-day week and weekend. Our analysis is predicated on the notion that car use is an individual decision, albeit one that is dependent on intra-household allocation processes, thereby building on a growing body of literature that has identified the importance of socioeconomic factors such as employment status, gender, and the presence of children in determining both access to and use of the car. To capture this two-stage decision process, we employ the two-part model, which consists of probit and OLS estimators, and derive elasticity estimates that incorporate both the discrete and continuous choices pertaining to car use. With fuel price elasticity estimates ranging between - 0.45 and - 0.50, our results suggest raising prices via fuel taxes to be a promising energy conservation and climate protection measure. (author)

  5. Driving for fun? Comparing the effect of fuel prices on weekday and weekend fuel consumption

    International Nuclear Information System (INIS)

    Frondel, Manuel; Vance, Colin

    2010-01-01

    Focusing on individual motorists in car-owning households in Germany, this paper investigates the determinants of automobile travel, with the specific aim of quantifying the effects of fuel prices and person-level attributes on travel conducted over a five-day week and weekend. Our analysis is predicated on the notion that car use is an individual decision, albeit one that is dependent on intra-household allocation processes, thereby building on a growing body of literature that has identified the importance of socioeconomic factors such as employment status, gender, and the presence of children in determining both access to and use of the car. To capture this two-stage decision process, we employ the two-part model, which consists of probit and OLS estimators, and derive elasticity estimates that incorporate both the discrete and continuous choices pertaining to car use. With fuel price elasticity estimates ranging between - 0.45 and - 0.50, our results suggest raising prices via fuel taxes to be a promising energy conservation and climate protection measure. (author)

  6. Bulk Fuel Pricing: DOD Needs to Take Additional Actions to Establish a More Reliable Methodology

    Science.gov (United States)

    2015-11-19

    Page 1 GAO-16-78R Bulk Fuel Pricing 441 G St. N.W. Washington, DC 20548 November 19, 2015 The Honorable Ashton Carter The Secretary of...Defense Bulk Fuel Pricing : DOD Needs to Take Additional Actions to Establish a More Reliable Methodology Dear Secretary Carter: Each fiscal...year, the Office of the Under Secretary of Defense (Comptroller), in coordination with the Defense Logistics Agency, sets a standard price per barrel

  7. Trade of Solid Biofuels, and Fuel Prices in Europe

    International Nuclear Information System (INIS)

    Alakangas, E.; Hillring, B.; Nikolaisen, L.S.

    2002-01-01

    Traditionally, biomass fuels are used in the same geographical region, in which they are produced. In more recent years, this pattern has been changed in Northern Europe by large-scale use of biomass for district heating and a vast supply of recycled wood and forest residues. The trade situation has come about as a result of means of control on waste and energy. Sea shipments allow bulk transports of biomass over long distances at low cost. In most countries, the customs statistics do not record trade in such a detail that the international trade of different biomass types could be identified. Today, solid biofuels like wood residues, pellets and wood chips are already traded in Europe and have reached a level of almost 50 PJ/a. In some countries, there is a growing interest in the international biomass trade, because the trade can provide biofuels at lower prices. The largest volumes of biomass are traded from the Baltic countries (Estonia, Latvia, Lithuania) to the Nordic countries (especially Sweden and Denmark, but also Finland). Some volumes are also traded from Finland to other Nordic countries, and between neighbouring countries in Central Europe, especially the Netherlands, Germany, Austria, Slovenia and Italy. The traded biofuel is most often of refined wood fuels (pellets and briquettes) and industrial by-products (sawdust, chips), in Central Europe also wood waste

  8. Trade of Solid Biofuels, and Fuel Prices in Europe

    Energy Technology Data Exchange (ETDEWEB)

    Alakangas, E. [VTT Processes, Jyvaeskylae (Finland); Hillring, B. [Swedish Univ. of Agricultural Sciences, Uppsala (Sweden); Nikolaisen, L.S. [Danish Technological Inst. (DTI), Aarhus (Denmark). Centre for Biomass Technology

    2002-07-01

    Traditionally, biomass fuels are used in the same geographical region, in which they are produced. In more recent years, this pattern has been changed in Northern Europe by large-scale use of biomass for district heating and a vast supply of recycled wood and forest residues. The trade situation has come about as a result of means of control on waste and energy. Sea shipments allow bulk transports of biomass over long distances at low cost. In most countries, the customs statistics do not record trade in such a detail that the international trade of different biomass types could be identified. Today, solid biofuels like wood residues, pellets and wood chips are already traded in Europe and have reached a level of almost 50 PJ/a. In some countries, there is a growing interest in the international biomass trade, because the trade can provide biofuels at lower prices. The largest volumes of biomass are traded from the Baltic countries (Estonia, Latvia, Lithuania) to the Nordic countries (especially Sweden and Denmark, but also Finland). Some volumes are also traded from Finland to other Nordic countries, and between neighbouring countries in Central Europe, especially the Netherlands, Germany, Austria, Slovenia and Italy. The traded biofuel is most often of refined wood fuels (pellets and briquettes) and industrial by-products (sawdust, chips), in Central Europe also wood waste.

  9. Electricity prices and fuel costs. Long-run relations and short-run dynamics

    International Nuclear Information System (INIS)

    Mohammadi, Hassan

    2009-01-01

    The paper examines the long-run relation and short-run dynamics between electricity prices and three fossil fuel prices - coal, natural gas and crude oil - using annual data for the U.S. for 1960-2007. The results suggest (1) a stable long-run relation between real prices for electricity and coal (2) Bi-directional long-run causality between coal and electricity prices. (3) Insignificant long-run relations between electricity and crude oil and/or natural gas prices. And (4) no evidence of asymmetries in the adjustment of electricity prices to deviations from equilibrium. A number of implications are addressed. (author)

  10. Vehicle type choice under the influence of a tax reform and rising fuel prices

    DEFF Research Database (Denmark)

    Mabit, Stefan Lindhard

    2014-01-01

    change in new vehicle purchases toward more diesel vehicles and more fuel-efficient vehicles. The paper analyses to what extent a vehicle tax reform similar to the Danish 2007 reform may explain changes in purchasing behaviour. The paper investigates the effects of a tax reform, fuel price changes......, and technological development on vehicle type choice using a mixed logit model. The model allows a simulation of the effect of car price changes that resemble those induced by the tax reform. This effect is compared to the effects of fuel price changes and technology improvements. The simulations show...... that the effect of the tax reform on fuel efficiency is similar to the effect of rising fuel prices while the effect of technological development is much larger. The conclusion is that while the tax reform appeared in the same year as a large increase in fuel efficiency, it seems likely that it only explains...

  11. Accounting for fuel price risk when comparing renewable togas-fired generation: the role of forward natural gas prices

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark; Wiser, Ryan; Golove, William

    2004-07-17

    Unlike natural gas-fired generation, renewable generation (e.g., from wind, solar, and geothermal power) is largely immune to fuel price risk. If ratepayers are rational and value long-term price stability, then--contrary to common practice--any comparison of the levelized cost of renewable to gas-fired generation should be based on a hedged gas price input, rather than an uncertain gas price forecast. This paper compares natural gas prices that can be locked in through futures, swaps, and physical supply contracts to contemporaneous long-term forecasts of spot gas prices. We find that from 2000-2003, forward gas prices for terms of 2-10 years have been considerably higher than most contemporaneous long-term gas price forecasts. This difference is striking, and implies that comparisons between renewable and gas-fired generation based on these forecasts over this period have arguably yielded results that are biased in favor of gas-fired generation.

  12. Accounting for fuel price risk when comparing renewable to gas-fired generation: the role of forward natural gas prices

    International Nuclear Information System (INIS)

    Bolinger, Mark; Wiser, Ryan; Golove, William

    2006-01-01

    Unlike natural gas-fired generation, renewable generation (e.g., from wind, solar, and geothermal power) is largely immune to fuel price risk. If ratepayers are rational and value long-term price stability, then-contrary to common practice-any comparison of the levelized cost of renewable to gas-fired generation should be based on a hedged gas price input, rather than an uncertain gas price forecast. This paper compares natural gas prices that can be locked in through futures, swaps, and physical supply contracts to contemporaneous long-term forecasts of spot gas prices. We find that from 2000 to 2003, forward gas prices for terms of 2-10 years have been considerably higher than most contemporaneous long-term gas price forecasts. This difference is striking, and implies that comparisons between renewable and gas-fired generation based on these forecasts over this period have arguably yielded results that are biased in favor of gas-fired generation

  13. Determination of the fuel component in the cost price of the energy production in NPP

    International Nuclear Information System (INIS)

    Lakov, M.; Velev, V.

    1997-01-01

    An approach is proposed for the determination of the fuel component in the cost price of the nuclear units production with regards of the difference between the time of the fuel consumption and the energy production. This method gives the opportunity for fuel consumption prognostication, as well as an optimization of both short and long term fueling regimes. This approach permits current update of the economic conditions and the pre-history of the investments. It can be used both for the determination of the fuel component and the full cost price of the energy production in NPPs.(author)

  14. Fuel consumption: short term and long term price impacts per population type

    International Nuclear Information System (INIS)

    2011-01-01

    This report presents assessments of the price sensitivity of household fuel consumption. After a literature review on price-elasticity assessments and the use of pseudo-panels, the investigation analyses the deciding factors of the household fuel expense and its evolution between 1985 and 2006. It proposes a short term price-elasticity assessment based on the most recent survey, and also proposes price-elasticity assessments for sub-populations, notably in terms of income level or location (rural or urban areas)

  15. Fuel pricing policies in South America and Mexico. Economic and environmental implications

    International Nuclear Information System (INIS)

    Altomonte, H.; Rogat, J.

    2004-01-01

    Increasing industrialisation and income levels in developing countries are leading to increased demand for energy. A vast majority of this energy is based on fossil fuels, where oil represents the largest share. The burning of fossil fuels gives rise to emissions of gases with severe impacts on local and global environment, and most importantly on human health. In spite of this, oil consumption has been steadily increasing during the last decades, and is expected to continue doing so. According to the IPCC's second assessment report, the use of energy and in particular of fossil fuels, is expected to double by 2020. In Latin America, fuel prices have historically been well below world market prices. Prior to energy reforms in the early 1990s, energy prices did not follow conventional marginal cost or opportunity cost pricing rules, but where instead set with particular regard for income distribution goals or with the avowed purpose of promoting industrialization. This situation started to change in a number of countries at the end of the 1980s as a result of energy reforms, which included changes in pricing policies. These reforms allowed for private sector participation in the exploration, production and distribution of these products, thuds leading in most of the countries to the pricing system being decentralised and profitability criteria being incorporated into the state owned companies. In some countries where energy had been heavily subsidised, energy reforms contributed to reducing or dismantling subsidies and thereby to price levels more in line with those of industrialized countries. Nevertheless, in several countries of the region energy subsidies are still in place. These subsidies are creating market distortions, with prices still well below world market prices being one of the results. The objective of this study is twofold. The first objective is to map current fuel pricing in a number of South American countries and Mexico. This information will

  16. Time-varying convergence in European electricity spot markets and their association with carbon and fuel prices

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.; Tamvakis, Michael

    2016-01-01

    Long-run dynamics of electricity prices are expected to reflect fuel price developments, since fuels generally account for a large share in the cost of generation. As an integrated European market for electricity develops, wholesale electricity prices should be converging as a result of market coupling and increased interconnectivity. Electricity mixes are also changing, spurred by a drive to significantly increase the share of renewables. Consequently, the electricity wholesale price dynamics are evolving, and the fuel–electricity price nexus that has been described in the literature is likely to reflect this evolution. This study investigates associations between spot prices from the British, French and Nordpool markets with those in connected electricity markets and fuel input prices, from December 2005 to October 2013. In order to assess the time-varying dynamics of electricity spot price series, localized autocorrelation functions are used. Electricity spot prices in the three markets are found to have stationary and non-stationary periods. When a trend in spot prices is observed, it is likely to reflect the trend in fuel prices. Cointegration analysis is then used to assess co-movement between electricity spot prices and fuel inputs to generation. The results show that British electricity spot prices are associated with fuel prices and not with price developments in connected markets, while the opposite is observed in the French and Nordpool day-ahead markets. - Highlights: • Electricity market integration policies may have altered EU spot electricity prices. • LACF is used to assess the changing nature of electricity spot prices. • EU electricity spot prices show both stationary and non-stationary periods. • Carbon and fuel prices have greater impact on British spot prices. • In continental Europe, electricity prices have decoupled from fuel prices.

  17. FUEL/CARBON PRICE VS. ABATEMENT TECHNOLOGY IN FREIGHT TRANSPORT

    Directory of Open Access Journals (Sweden)

    Eugen Ferdinand Spangenberg

    2017-12-01

    Full Text Available The current situation is the exponential increase in greenhouse gases (GHG, which is mainly caused by industrial and transport activities. The recent Paris agreement in 2015 (Framework Convention on Climate Change COP21, UNFCCC made it clear to everyone that CO2 emissions are to be limited in all areas of life. Alternative fuels with a lower environmental impact than carbon (CO2 emissions are hard to find if the overall footprint is to be taken into account. Nevertheless, there are some fuels that have less impact on climate change. One the other hand, the production of biofuels is a controversial matter, although it is a viable alternative to emissions reduction. CNG or LNG-powered vehicles are also better in terms of environmental pollution, but are hardly better with regard to CO2 impact when a Life Cycle Assessment (LCA is carried out. LNG (liquid natural gas, for example, is the future fuel in the maritime sector because of the stricter environmental regulations (SOx,NOx in the shipping industry. The battery-powered vehicle is another example of an environmentally friendly solution. The afore-mentioned measures can be considered as “abatement“ necessary in order to limit CO2 impact. The study shows that there are significant differences in the environmental impact between transport systems and the corresponding drive-system or associated energy base. The polluter should pay, which is a common basic principle in economic research. The Emission Trading Scheme (ETS has been introduced in order to ensure a reduction in CO2 output – emissions come with a price tag. An overall view is necessary, both en-vironmental and economic impact must be reconciled (cf. Spangenberg - TQI. The future viability of the transport system as we know it may change significantly over time if new environmental requirements or e.g. CO2 taxes or ETS are introduced in the freight sector. The abatement of CO2 should be effected primarily through technological

  18. Theoretical Model of Pricing Behavior on the Polish Wholesale Fuel Market

    Directory of Open Access Journals (Sweden)

    Bejger Sylwester

    2016-12-01

    Full Text Available In this paper, we constructed a theoretical model of strategic pricing behavior of the players in a Polish wholesale fuel market. This model is consistent with the characteristics of the industry, the wholesale market, and the players. The model is based on the standard methodology of repeated games with a built-in adjustment to a focal price, which resembles the Import Parity Pricing (IPP mechanism. From the equilibrium of the game, we conclude that the focal price policy implies a parallel pricing strategic behavior on the market.

  19. Estimation of Gasoline Price Elasticities of Demand for Automobile Fuel Efficiency in Korea: A Hedonic Approach

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Sung Tae [Sungkyunkwan University, Seoul (Korea); Lee, Myunghun [Keimyung University, Taegu (Korea)

    2001-03-01

    This paper estimates the gasoline price elasticities of demand for automobile fuel efficiency in Korea to examine indirectly whether the government policy of raising fuel prices is effective in inducing less consumption of fuel, relying on a hedonic technique developed by Atkinson and Halvorsen (1984). One of the advantages of this technique is that the data for a single year, without involving variation in the price of gasoline, is sufficient in implementing this study. Moreover, this technique enables us to circumvent the multicollinearity problem, which had reduced reliability of the results in previous hedonic studies. The estimated elasticities of demand for fuel efficiency with respect to the price of gasoline, on average, is 0.42. (author). 30 refs., 3 tabs.

  20. Unemployment rate and price of gasoline predict the fuel economy of purchased new vehicles.

    Science.gov (United States)

    2011-03-01

    This study examined the relationship between two economic indicatorsthe : unemployment rate and the price of gasolineand the fuel economy of purchased new : vehicles. A regression analysis was performed on U.S. monthly data from October 2007 : ...

  1. Method of evaluation of solar collector cost under fuel price change

    International Nuclear Information System (INIS)

    Klychev, Sh. I.; Sadykova, N. S.; Saifiev, A. U.; Ismanzhanov, A. I.; Samiev, M.

    2013-01-01

    When we take into account the problems of large-scale use of solar energy, the matters of economic perspectives of solar plants in the future become vital. We present the method on whose basis evaluation of the cost of solar collectors is performed taking into account the change in the fuel prices. The method is based on the approach to evaluation of the cost of energy generated by the solar plants offered previously by the authors. Assuming that the components of expenditures for production are not changed, we obtained that the cost of solar collectors will grow, at approximately the same ratio as the growth of the prices for fuel (energy). Thus, the problem of creation of the economically effective solar collectors should be solved already today, at the existing prices for materials and fuel. At present, it is assumed that competitiveness of the solar plants will increase with the growth of the fuel prices. (authors)

  2. Development of fuel prices and its impact on the future development of nuclear energy, the use of computer code DESAE

    International Nuclear Information System (INIS)

    Panik, M.; Necas, V.

    2007-01-01

    The thesis is an overview of fuel prices, its key components, such as the particular price and price of natural uranium fuel enrichment. The paper outlines the expected impact of higher fuel prices on the future development of nuclear energy. The last section is devoted to computer code DESAE, designed to calculate and compare advantages and disadvantages of different nuclear systems, but also to calculate the parameters of given nuclear system. They suggested the possibility of using code in practice. (author)

  3. Accounting for fuel price risk: Using forward natural gas prices instead of gas price forecasts to compare renewable to natural gas-fired generation

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark; Wiser, Ryan; Golove, William

    2003-08-13

    Against the backdrop of increasingly volatile natural gas prices, renewable energy resources, which by their nature are immune to natural gas fuel price risk, provide a real economic benefit. Unlike many contracts for natural gas-fired generation, renewable generation is typically sold under fixed-price contracts. Assuming that electricity consumers value long-term price stability, a utility or other retail electricity supplier that is looking to expand its resource portfolio (or a policymaker interested in evaluating different resource options) should therefore compare the cost of fixed-price renewable generation to the hedged or guaranteed cost of new natural gas-fired generation, rather than to projected costs based on uncertain gas price forecasts. To do otherwise would be to compare apples to oranges: by their nature, renewable resources carry no natural gas fuel price risk, and if the market values that attribute, then the most appropriate comparison is to the hedged cost of natural gas-fired generation. Nonetheless, utilities and others often compare the costs of renewable to gas-fired generation using as their fuel price input long-term gas price forecasts that are inherently uncertain, rather than long-term natural gas forward prices that can actually be locked in. This practice raises the critical question of how these two price streams compare. If they are similar, then one might conclude that forecast-based modeling and planning exercises are in fact approximating an apples-to-apples comparison, and no further consideration is necessary. If, however, natural gas forward prices systematically differ from price forecasts, then the use of such forecasts in planning and modeling exercises will yield results that are biased in favor of either renewable (if forwards < forecasts) or natural gas-fired generation (if forwards > forecasts). In this report we compare the cost of hedging natural gas price risk through traditional gas-based hedging instruments (e

  4. Estimating household fuel oil/kerosine, natural gas, and LPG prices by census region

    International Nuclear Information System (INIS)

    Poyer, D.A.; Teotia, A.P.S.

    1994-08-01

    The purpose of this research is to estimate individual fuel prices within the residential sector. The data from four US Department of Energy, Energy Information Administration, residential energy consumption surveys were used to estimate the models. For a number of important fuel types - fuel oil, natural gas, and liquefied petroleum gas - the estimation presents a problem because these fuels are not used by all households. Estimates obtained by using only data in which observed fuel prices are present would be biased. A correction for this self-selection bias is needed for estimating prices of these fuels. A literature search identified no past studies on application of the selectivity model for estimating prices of residential fuel oil/kerosine, natural gas, and liquefied petroleum gas. This report describes selectivity models that utilize the Dubin/McFadden correction method for estimating prices of residential fuel oil/kerosine, natural gas, and liquefied petroleum gas in the Northeast, Midwest, South, and West census regions. Statistically significant explanatory variables are identified and discussed in each of the models. This new application of the selectivity model should be of interest to energy policy makers, researchers, and academicians

  5. Flex-fuel vehicle adoption and dynamics of ethanol prices: lessons from Brazil

    International Nuclear Information System (INIS)

    Du, Xiaodong; Carriquiry, Miguel A.

    2013-01-01

    Focusing on dynamics of the relative prices of substitute fuels, namely ethanol and gasoline, this study quantifies the impact of the increase in shares of flex-fuel vehicles (FFVs) in the vehicle fleet on the domestic ethanol prices in Brazil. A modified partial adjustment model is employed. Estimation results provide strong support for our research hypotheses: (i) when consumers can choose between the fuels the relative ethanol and gasoline prices converge to a long-run equilibrium level, which is determined by the fuel economy, and (ii) price dynamics are largely determined by market supply and demand factors including the price of sugar, ethanol exports, and composition of vehicle fleet. Furthermore, the impacts of demand factors such as ethanol exports are strengthened by the increasing proportion of FFVs in the vehicle fleet. - Highlights: • The relative prices of ethanol and gasoline in Brazil exhibit strong mean-reversion. • The fuel price dynamics are mainly influenced by supply and demand factors. • The impacts of demand factors are strengthened by the increasing proportion of FFVs

  6. FUTURE FOSSIL FUEL PRICE IMPACTS ON NDC ACHIEVEMENT; ESTIMATION OF GHG EMISSIONS AND MITIGATION COSTS

    Directory of Open Access Journals (Sweden)

    Yosuke Arino

    2017-12-01

    Full Text Available The Shale Revolution in the US, a supply-side innovation in oil and gas production, has been dramatically changing the world’s fossil fuel energy markets – leading to a decrease in oil, gas and coal prices. Some projections suggest that low fossil fuel prices might continue at least over the next few decades. Uncertainty in fossil fuel prices might affect the levels of emission reductions expected from submitted nationally determined contributions (NDCs and/or influence the difficulty of achieving the NDCs. This paper evaluated the impact of different (high, medium, and low fossil fuel prices, sustained through to 2050, on worldwide GHG emissions reductions and associated costs (mainly marginal abatement costs (MACs. Total global GHG emissions were estimated to be 57.5-61.5 GtCO2eq by 2030, with the range shown reflecting uncertainties about fossil fuel prices and the target levels of several NDCs (i.e., whether their upper or lower targets were adopted. It was found that lower fuel prices not only diminished the environmental effectiveness of global NDCs but also widened regional differences of marginal and total abatement costs, thereby generating more room for carbon leakage. One possible policy direction in terms of abatement efficiency, fairness and environmental effectiveness would be to require countries with low marginal and total abatement costs but having a major influence on global GHG emissions (such as China and India to increase their mitigation efforts, especially in a low-fuelprice world.

  7. Production Costs of Alternative Transportation Fuels. Influence of Crude Oil Price and Technology Maturity

    Energy Technology Data Exchange (ETDEWEB)

    Cazzola, Pierpaolo; Morrison, Geoff; Kaneko, Hiroyuki; Cuenot, Francois; Ghandi, Abbas; Fulton, Lewis

    2013-07-01

    This study examines the production costs of a range of transport fuels and energy carriers under varying crude oil price assumptions and technology market maturation levels. An engineering ''bottom-up'' approach is used to estimate the effect of the input cost of oil and of various technological assumptions on the finished price of these fuels. In total, the production costs of 20 fuels are examined for crude oil prices between USD 60 and USD 150 per barrel. Some fuel pathways can be competitive with oil as their production, transport and storage technology matures, and as oil price increases. Rising oil prices will offer new opportunities to switch to alternative fuels for transport, to diversify the energy mix of the transport sector, and to reduce the exposure of the whole system to price volatility and potential distuption of supply. In a time of uncertainty about the leading vehicle technology to decarbonize the transport sector, looking at the fuel cost brings key information to be considered to keep mobility affordable yet sustainable.

  8. The Cost of SOx Limits to Marine Operators; Results from Exploring Marine Fuel Prices

    Directory of Open Access Journals (Sweden)

    Orestis Schinas

    2013-06-01

    Full Text Available Marine operators are confronted with the new air emissions regulations that determine the limits of sulfur content in marine fuels. The low-sulfur (LS marine fuels have a higher price, and their fluctuation is almost similar to the fluctuation of high-sulfur (HS fuels. The price difference between HS and LS might also determine the decision of operators for alternative technical means, such as scrubbers, in order to comply with the new limits. This paper aims to provide a thorough statistical analysis of the currently available LS and HS marine fuels time series, as well as to present the analysis of the differential of the HS and LS fuel prices. The paper concludes with suggestions for further research.

  9. Wood fuel in Sweden 1800-1990 - consumption and price trends

    International Nuclear Information System (INIS)

    Schoen, L.

    1992-01-01

    The report presents consumption and price trends of wood fuel in Sweden 1800-1990 and discusses the increase in the use of wood fuel in the 1980's in a long-term perspective. Consumption of wood fuel grew at the same rate as population during most of the 19th century with a share of 95-80 per cent of total fuel consumption. Since the modern industrial breakthrough around the 1880's, consumption of wood fuel has decreased while that of fossiles and electricity have expanded. Temporarily, consumption increased during the world wars, particularly during the second one. The increase after the energy crises of the 1970's differs from those of the wars in some respects - thus, the changes in the conditions of energy supply and energy use were conceived as long-lasting, the increase in consumption took place with markets in function, and an important new user appeared, namely the district heating services. During both the 19th and the 20th century, prices of wood fuel have risen strongly in relation to those of most other products. This increase expresses the shifts in demand to wood resources and the comparatively weak productivity growth in forestry. Compared to prices of fossile fuels, the price increase of wood fuel ended in the 1920's and the relation has since then fluctuated. The strong shift in consumption to fossils from the 1920's is explained rather by the high costs of handling wood fuel. Wood fuel consumption has increased during periods of relatively decreasing wages. While the price increase of wood fuel can stimulate extended production also within agriculture, the study emphasizes the need of productivity growth in wood fuel production as well as product development towards the lowering of the handling costs of the user. (23 refs., 8 figs., 4 tabs.)

  10. Evidence of asymmetric behavioral responses to changes in gasoline prices and taxes for different fuel types

    International Nuclear Information System (INIS)

    Bajo-Buenestado, Raúl

    2016-01-01

    Using monthly data from the Spanish gasoline retail market we explore asymmetries in consumers’ behavioral responses to changes in gasoline prices and taxes. In particular, we are interested in investigating whether an increase in gasoline taxes has a more negative impact on the demand than a –similar in magnitude– increase in the “pre-tax” price of gasoline for different fuel types. We estimate fuel consumers’ responses using a rich set of robust panel data models considering potential dynamic effects and endogeneity problems. We find evidence to confirm the existence of asymmetric responses for the demand of unleaded fuels and agricultural diesel fuel. However we cannot support this statement for the regular diesel case: for this fuel both the tax-exclusive price and the tax elasticities are roughly the same. This result agrees with the fact that “diesel drivers” tend to be better informed about changes in both fuel prices and taxes. Some implications in terms of fiscal policy and pollution and climate change policy are also discussed. - Highlights: •Provide evidence of asymmetric responses of gasoline demand due to changes in prices and taxes. •Identify differences in the elasticity of the demand of diesel fuel and unleaded gasoline. •Perform robustness checks considering dynamic effects and IV regression. •Provide some policy recommendations for future gasoline tax changes.

  11. Fuel Prices as a Factor of Shaping Profitability of Road Transport in Poland

    Directory of Open Access Journals (Sweden)

    Marzantowicz Łukasz

    2016-12-01

    Full Text Available The goal of this article is to determine the relation between the price of fuel and the profitability of the company. For this purpose, the article defines the profitability of transport enterprises and points the source of the impact of changes in fuel prices on the profitability of companies in the road transport sector. The case of the ABC transport company shows the relationship between the costs incurred for the purchase of fuel and the cost of transport activities. To test the theoretical assumptions, case study method was used.

  12. Ambiguities of fighting inflation: structure of alcohol fuel prices; Os equivocos do combate a inflacao

    Energy Technology Data Exchange (ETDEWEB)

    Nastari, Plinio Mario [Fundacao Getulio Vargas (FGV), Sao Paulo, SP (Brazil)

    1993-12-31

    The control of consumer prices of alcohol fuel and gasoline has been used by the Brazilian government as a tool for fighting inflation. The production of alcohol fuel from biomass and the use of its by-products is one of the few strategies that will permit economic development and environmental preservation at the same time. While the pricing policy continues to determine the energy policy, it will be almost impossible to promote the production and the use of alcohol fuel in the country 8 figs.

  13. Effects of fuel price fluctuation on individual CO2 traffic emissions : empirical findings from pseudo panel data

    NARCIS (Netherlands)

    Yang, D.; Timmermans, H.J.P.

    2012-01-01

    Globalized concerns about greenhouse gasses and increased energy consumptions have stimulated research in transportation about the relationships between fuel prices and emissions. Many researchers have found that higher fuel price can reduce fuel consumption and CO2 emissions through a number of

  14. Risk hedging against the fuel price fluctuation in energy service business

    International Nuclear Information System (INIS)

    Bannai, Masaaki; Tomita, Yasushi; Ishida, Yasushi; Miyazaki, Takahiko; Akisawa, Atsushi; Kashiwagi, Takao

    2007-01-01

    Energy service business, or energy service company (ESCO), is expanding among industrial users as a means of energy saving. The ESCO business normally tends to become a long-term operation. During the operation, fluctuations of fuel and electricity costs significantly impact on the stability of the profit from ESCO business. Therefore, it is essential to reduce the risk of fuel and electricity cost fluctuations. Generally, a transaction called ''financial derivative'' is used as a measure of hedging against the fuel price fluctuation. In the case of ESCO business, it is necessary to manage the risk of both electricity and fuel price fluctuations because the variation in electricity price strongly affects the profit from ESCO as that in fuel price does. In this paper, the stabilization of the ESCO profit using financial derivatives was discussed by quantitative analyses of the actual data from existing plants. Case studies revealed that the appropriate volume of the fuel derivative implementation was less than a half of the fuel consumption at the ESCO facilities, and it ranged from 5% to 50%. (author)

  15. Estimating Price Elasticity of Demand for Motor Fuel in the Transport Sectors

    Directory of Open Access Journals (Sweden)

    Olga Vasilyevna Mazurova

    2015-03-01

    Full Text Available Modeling of long-term forecasts of prices and demand on regional energy markets requires accounting for the future changes in the interactions between the greater economy and its energy sector, along with the possible emergence of new factors and specific regional features determining those interactions. The proposed approach allows the study of a correlation between demand and prices for motor fuel, taking into account the competition of energy carriers, the dynamics of energy prices, resource constraints, the use of new technologies and the uncertainty of input data. The main feature of the proposed approach is the combined estimation of the price elasticity of demand for motor fuel with optimization of fuel supply in the region. Thus the author determined elasticity of demand based on the comparison of economic efficiency of the use of different fuels. The study includes results of experimental calculations and forecasted price according to demand for motor fuel in freight transportation for the expected development conditions of the Far Eastern federal district

  16. An overview of alternative fossil fuel price and carbon regulation scenarios

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Bolinger, Mark

    2004-10-01

    The benefits of the Department of Energy's research and development (R&D) efforts have historically been estimated under business-as-usual market and policy conditions. In recognition of the insurance value of R&D, however, the Office of Energy Efficiency and Renewable Energy (EERE) and the Office of Fossil Energy (FE) have been exploring options for evaluating the benefits of their R&D programs under an array of alternative futures. More specifically, an FE-EERE Scenarios Working Group (the Working Group) has proposed to EERE and FE staff the application of an initial set of three scenarios for use in the Working Group's upcoming analyses: (1) a Reference Case Scenario, (2) a High Fuel Price Scenario, which includes heightened natural gas and oil prices, and (3) a Carbon Cap-and-Trade Scenario. The immediate goal is to use these scenarios to conduct a pilot analysis of the benefits of EERE and FE R&D efforts. In this report, the two alternative scenarios being considered by EERE and FE staff--carbon cap-and-trade and high fuel prices--are compared to other scenarios used by energy analysts and utility planners. The report also briefly evaluates the past accuracy of fossil fuel price forecasts. We find that the natural gas prices through 2025 proposed in the FE-EERE Scenarios Working Group's High Fuel Price Scenario appear to be reasonable based on current natural gas prices and other externally generated gas price forecasts and scenarios. If anything, an even more extreme gas price scenario might be considered. The price escalation from 2025 to 2050 within the proposed High Fuel Price Scenario is harder to evaluate, primarily because few existing forecasts or scenarios extend beyond 2025, but, at first blush, it also appears reasonable. Similarly, we find that the oil prices originally proposed by the Working Group in the High Fuel Price Scenario appear to be reasonable, if not conservative, based on: (1) the current forward market for oil, (2

  17. A revisit of fossil-fuel subsidies in China: Challenges and opportunities for energy price reform

    International Nuclear Information System (INIS)

    Lin, Boqiang; Ouyang, Xiaoling

    2014-01-01

    Highlights: • We measure fossil-fuel subsidies and effects of subsidy removal in a systematic fashion during 2006–2010. • Fossil-fuel subsidies scale of China was CNY 881.94 billion in 2010, equivalent to 2.59% of GDP. • Impacts of removing subsidies on macroeconomic variables are examined by the CGE model. • Future policy should focus on designing transparent, targeted and efficient energy subsidies. - Abstract: Fossil-fuel subsidies contribute to the extensive growth of energy demand and the related carbon dioxide emissions in China. However, the process of energy price reform is slow, even though China faces increasing problems of energy scarcity and environmental deterioration. This paper focuses on analyzing fossil fuel subsidies in China by estimating subsidies scale and the implications for future reform. We begin by measuring fossil-fuel subsidies and the effects of subsidy removal in a systematic fashion during 2006–2010 using a price-gap approach. Results indicate that the oil price reform in 2009 significantly reduced China’s fossil-fuel subsidies and modified the subsidy structure. Fossil-fuel subsidies scale in China was 881.94 billion CNY in 2010, which was lower than the amount in 2006, equivalent to 2.59% of the GDP. The macro-economic impacts of removing fossil-fuel subsidies are then evaluated by the computable general equilibrium (CGE) model. Results demonstrate that the economic growth and employment will be negatively affected as well as energy demand, carbon dioxide and sulfur dioxide emissions. Finally, policy implications are suggested: first, risks of government pricing of energy are far from negligible; second, an acceptable macroeconomic impact is a criterion for energy price reform in China; third, the future energy policy should focus on designing transparent, targeted and efficient energy subsidies

  18. Social cost pricing of fossil fuels used in the production of electricity: implications to biomass feasibility

    International Nuclear Information System (INIS)

    Dillivan, K.D.; English, B.C.

    1997-01-01

    The primary objective of this study is to investigate full social pricing for fossil fuels and the subsequent effect on biomass quantities in the state of Tennessee. The first step is to estimate the full social costs and then to estimate the effects of their internalization. Other objectives are (1) investigate whether or not market imperfections exist, (2) if they exist, how should full social cost pricing be estimated, (3) what other barriers help fossil fuels stay economically attractive and prevent biomass from competing, (4) estimating the demand for biomass, and (5) given this demand for biomass, what are the implications for farmers and producers in Tennessee. (author)

  19. Price transmission between biofuels, fuels and food commodities

    Czech Academy of Sciences Publication Activity Database

    Krištoufek, Ladislav; Janda, K.; Zilberman, D.

    2014-01-01

    Roč. 8, č. 3 (2014), s. 362-373 ISSN 1932-104X Grant - others:GA ČR(CZ) GAP402/11/0948 Program:GA Institutional support: RVO:67985556 Keywords : biofuels * price transmission * non-linearity * elasticity Subject RIV: AH - Economics Impact factor: 4.214, year: 2014 http://library.utia.cas.cz/separaty/2014/E/kristoufek-0433525.pdf

  20. Prices versus policy: An analysis of the drivers of the primary fossil fuel mix

    International Nuclear Information System (INIS)

    Atalla, Tarek; Blazquez, Jorge; Hunt, Lester C.; Manzano, Baltasar

    2017-01-01

    Energy policymakers often attempt to shape their countries' energy mix, rather than leave it purely to market forces. By calibrating and simulating a Dynamic Stochastic General Equilibrium (DSGE) model, this paper analyzes the primary fossil fuel mix in the USA and compares it to Germany and the UK, given the different evolution of the mixes and the different roles played by relative prices and policy in North America and Europe. It is found that the model explains well the evolution of the primary fossil fuel mix in the USA for the period 1980–2014, suggesting that relative fossil fuel prices generally dominated in determining the mix during this time. However, this is not the case for Germany and the UK. For both countries, the model performs well only for the period after the market-oriented reforms in the 1990s. Additionally, the volatility of private consumption and output for the pre- and post-reform periods is evaluated for Germany and the UK and it is found that the liberalized energy markets brought about a transition from coal to natural gas, but with increased macroeconomic volatility. - Highlights: • Macroeconomic analysis of the importance of prices vs policy in driving the primary fossil fuel mix. • USA primary fossil fuel mix chiefly driven by relative prices since the early 1980s. • Germany and UK primary fossil fuel mix chiefly driven by policy until 1990s. • Germany and UK primary fossil fuel mix chiefly driven by relative prices since early to mid-1990s. • Transition from coal to natural gas in Germany and UK increased macroeconomic volatility.

  1. Effects of SO2 emission regulations and fuel prices on levellized energy costs for industrial steam generation options

    International Nuclear Information System (INIS)

    Ozdogan, Sibel; Arikol, Mahir

    1992-01-01

    We discuss the impacts of SO 2 emission regulations and fuel prices on levellized energy costs of industrial steam generation options. A computer model called INDUSTEAM has been utilized. The steam-supply options comprise conventional grate-firing, bubbling and circulating fluidized beds, fuel-oil, and natural-gas-fired systems. Fuels of different SO 2 pollution potential have been evaluated assuming six environmental scenarios and varying fuel prices. A capacity range of 10-90 MW th is covered. (author)

  2. Development of rapid mixing fuel nozzle for premixed combustion

    International Nuclear Information System (INIS)

    Katsuki, Masashi; Chung, Jin Do; Kim, Jang Woo; Hwang, Seung Min; Kim, Seung Mo; Ahn, Chul Ju

    2009-01-01

    Combustion in high-preheat and low oxygen concentration atmosphere is one of the attractive measures to reduce nitric oxide emission as well as greenhouse gases from combustion devices, and it is expected to be a key technology for the industrial applications in heating devices and furnaces. Before proceeding to the practical applications, we need to elucidate combustion characteristics of non-premixed and premixed flames in high-preheat and low oxygen concentration conditions from scientific point of view. For the purpose, we have developed a special mixing nozzle to create a homogeneous mixture of fuel and air by rapid mixing, and applied this rapidmixing nozzle to a Bunsen-type burner to observe combustion characteristics of the rapid-mixture. As a result, the combustion of rapid-mixture exhibited the same flame structure and combustion characteristics as the perfectly prepared premixed flame, even though the mixing time of the rapid-mixing nozzle was extremely short as a few milliseconds. Therefore, the rapid-mixing nozzle in this paper can be used to create preheated premixed flames as far as the mixing time is shorter than the ignition delay time of the fuel

  3. Demand, supply and fuel prices forecast to the year 2000

    International Nuclear Information System (INIS)

    1984-01-01

    This paper summarizes the Western European energy situation, and deals with specific aspects under the headings: European oil prices fall until 1987; prospects for oil recovery; transport sector holds oil demand up as oil demand loses favour in other sectors; upstream uncertainties; continued slackness of European natural gas market poses threat to oil; problems for European coal industry; dramatic growth in nuclear power; breeder reactors to play minimal role; PWRs will remain dominant. The situation in individual countries - Belgium, the Netherlands, France, Germany, United Kingdom, Italy and Spain - is analysed. (U.K.)

  4. Calculating the price trajectory of adoption of fuel cell vehicles

    Energy Technology Data Exchange (ETDEWEB)

    Adamson, K.-A. [Technical University of Berlin (Germany). Fuel Cell and Hydrogen Research Centre

    2005-03-01

    How do you model consumer behaviour for disruptive technologies? Technologies that potentially have no antecedents and that, by their very definition, change consumer behaviour patterns? This paper outlines a methodology and results employed during a study to model the consumer willingness to pay for fuel cell vehicles, a potential disruptive innovation (DI). The first part of the study provides a short overview on DI highlighting why the fuel cell family of technologies may represent an upcoming DI. From the post ante study of successful historical disruptive innovations a number of initial rules of adoption' can be sketched. Further narrowing of the focus on economic reasons for adoption provides a framework for which the willingness to pay for the new disruptive technology, such as, here, fuel cell vehicles, can be analysed during different phases of the market. This economic framework is then applied to the potential future market of fuel cell vehicles using information from a model that was built from vehicles during the build years 1994-2002 in the subcompact, compact and luxury class. The results presented in this paper concentrate on the subcompact and compact class of vehicle and supersede the initial results previously published. Finally, there is a short discussion on different pathways that this can be taken forward and used to help in policy decisions. (author)

  5. Calculation of fuel, currency, and inland freight price adjustment factors for military marine shipping

    Science.gov (United States)

    2013-11-01

    This report describes the refreshing of the USTRANSCOM Economic Price Adjustment (EPA) factors for use in the USC-7 contract. The three EPA factors developed by Volpe in 2009 are the starting point for this update, and these are the Bunker Fuel Adjus...

  6. Long term fuel price elasticity: effects on mobility tool ownership and residential location choice - Final report

    Energy Technology Data Exchange (ETDEWEB)

    Erath, A.; Axhausen, K. W.

    2010-04-15

    This comprehensive final report for the Swiss Federal Office of Energy (SFOE) examines the long-term effects of fuel price elasticity. The study analyses how mobility tool usage and ownership as well as residence location choice are affected by rising fuel costs. Based on econometric models, long-term fuel price elasticity is derived. The authors quote that the demand reactions to higher fuel prices mainly observed are the reduction of mileage and the consideration of smaller-engined and diesel-driven cars. As cars with natural gas powered engines and electric drives were hardly considered in the survey, the results of the natural gas model can, according to the authors, only serve as a trend. No stable model could be estimated for the demand and usage of electric cars. A literature overview is presented and the design of the survey is discussed, whereby socio-demographical variables and the effects of price and residence changes are discussed. Modelling of mobility tool factors and results obtained are looked at. Finally, residence choice factors are modelled and discussed. Several appendices complete the report.

  7. Fuels planning: science synthesis and integration; economic uses fact sheet 07: markets and log prices

    Science.gov (United States)

    Rocky Mountain Research Station USDA Forest Service

    2004-01-01

    Markets and prices for logs vary widely across the West, fluctuating from place to place in response to regional variables and hauling costs. This fact sheet discusses those variables, locality of log markets, markets for low-value logs, and caveats to consider when using My Fuel Treatment Planner.

  8. Reforming fossil fuel prices in India: Dilemma of a developing economy

    International Nuclear Information System (INIS)

    Anand, Mukesh Kumar

    2016-01-01

    Over the period between 1990–1 and 2012–3, fossil fuel use on farms has risen and its indirect use in farming, particularly for non-energy purposes, is also growing. Consequently, both energy intensity and fossil fuel intensity are rising for Indian agriculture. But, these are declining for the aggregate Indian economy. Thus, revision of fossil fuel prices acquires greater significance for Indian agriculture than for rest of the economy. There are significant differences across crops. The crop-level analysis is supplemented by an alternative approach that utilizes a three-sector input–output (I–O) model for the Indian economy representing farming, fossil fuels, and rest of economy. Fossil fuels sector is assessed to portray, in general, strong forward linkages. The increase in total cost of farming, for a given change in fossil fuel prices, is estimated as a multiple of increase in direct input cost of fossil fuels in farming. From the three-sector aggregated economy this multiple was estimated at 3.99 for 1998–9. But it grew to 6.7 in 2007–8. The findings have stronger ramifications than commonly recognized, for inflation and cost of implementing the policy on food security. - Highlights: •Fossil fuels’ contribution in primary energy supply has risen from 55 to 75 per cent. •Energy intensity halved for aggregate GDP, but doubled for agricultural GDP. •Impact of fossil fuel price increase on farming costs mimics a widening spiral. •Total cost of farming may increase 6.7 times the increase in direct fuel input cost.

  9. How do the stock prices of new energy and fossil fuel companies correlate? Evidence from China

    International Nuclear Information System (INIS)

    Wen, Xiaoqian; Guo, Yanfeng; Wei, Yu; Huang, Dengshi

    2014-01-01

    This study documents the return and volatility spillover effect between the stock prices of Chinese new energy and fossil fuel companies using the asymmetric BEKK model. Based on daily samples taken from August 30, 2006 to September 11, 2012, the dynamics of new energy/fossil fuel stock spillover are found to be significant and asymmetric. Compared with positive news, negative news about new energy and fossil fuel stock returns leads to larger return changes in their counter assets. News about both new energy and fossil fuel stock returns spills over into variances of their counter assets, and the volatility spillovers depend complexly on the respective signs of the return shocks of each asset. The empirical results demonstrate that new energy and fossil fuel stocks are generally viewed as competing assets, that positive news about new energy stocks could affect the attractiveness of fossil fuel stocks and that new energy stock investment is more speculative and riskier than fossil fuel stock investment. These results have potential implications for asset allocation, financial risk management and energy policymaking. - Highlights: • The dynamics of Chinese new energy/fossil fuel stock spillover are significant and asymmetric. • New energy and fossil fuel stocks are generally viewed as competing assets. • Positive news about new energy stocks affects the attractiveness of fossil fuel stocks. • New energy stock investment is more speculative and riskier than fossil fuel stock investment

  10. Survey regarding the prices of wood fuels over the 2014 - 2015 period - Synthesis

    International Nuclear Information System (INIS)

    Fautrad, Alice

    2015-11-01

    The study conducted by CODA Strategies contains, in a first part, the synthesis and the full report of the results of a survey realized in 2015 among distributors of wood fuels for domestic, commercial, industrial and collective housing purposes. A second report presents the 2014-2015 fuel prices for commercial, industrial and collective housing markets only. This report is based on data published by the CEEB and proposes a method to estimate the cost of delivery. A third report presents the 2014-2015 results of a survey realized among distributors of wood fuels for domestic purposes only. This report also presents data regarding wood pellets price, in order to place the French market in its international context. A last report presents a French/English synthesis of the the 2014-2015 survey results

  11. Influence of the pro-ecological tax on the market prices of fuels and electricity

    International Nuclear Information System (INIS)

    Szargut, Jan; Stanek, Wojciech

    2008-01-01

    The proposed pro-ecological tax should be proportional to the cumulative consumption of non-renewable natural exergy burdening the considered product. It should replace the existing value-added tax (VAT). The income of the state after introducing the new tax, should remain without any change. That principle determines the coefficient of proportionality between the cumulative consumption of non-renewable exergy and the value of the tax. The total value of the tax should be paid to the state after extracting the minerals and fuels from nature and importing the fuels and semi-finished products, then transferred to the subsequent products in a form of their elevated price. Hence, the tax is eventually paid by the consumers in the form of an elevated price of goods and services. The total income of the society should remain without any changes. The largest price increase will appear in the case of fuels and electricity. The prices of electricity produced from renewable resources are calculated too, taking into account the accompanying unavoidable consumption of non-renewable exergy for the construction of the power plant. The new VAT should enhance the economy of the most energy-consuming products, stimulate the mitigation of the total consumption level of the society and increase the application of the renewable energy resources. (author)

  12. Gasoline prices, gasoline consumption, and new-vehicle fuel economy: Evidence for a large sample of countries

    International Nuclear Information System (INIS)

    Burke, Paul J.; Nishitateno, Shuhei

    2013-01-01

    Countries differ considerably in terms of the price drivers pay for gasoline. This paper uses data for 132 countries for the period 1995–2008 to investigate the implications of these differences for the consumption of gasoline for road transport. To address the potential for simultaneity bias, we use both a country's oil reserves and the international crude oil price as instruments for a country's average gasoline pump price. We obtain estimates of the long-run price elasticity of gasoline demand of between − 0.2 and − 0.5. Using newly available data for a sub-sample of 43 countries, we also find that higher gasoline prices induce consumers to substitute to vehicles that are more fuel-efficient, with an estimated elasticity of + 0.2. Despite the small size of our elasticity estimates, there is considerable scope for low-price countries to achieve gasoline savings and vehicle fuel economy improvements via reducing gasoline subsidies and/or increasing gasoline taxes. - Highlights: ► We estimate the determinants of gasoline demand and new-vehicle fuel economy. ► Estimates are for a large sample of countries for the period 1995–2008. ► We instrument for gasoline prices using oil reserves and the world crude oil price. ► Gasoline demand and fuel economy are inelastic with respect to the gasoline price. ► Large energy efficiency gains are possible via higher gasoline prices

  13. Hogged wood fuel price analysis in the U.S. Pacific Northwest

    International Nuclear Information System (INIS)

    Biederman, R.T.; Blazek, C.F.; Fox, P.J.

    1991-01-01

    The purpose of this paper is to discuss the results of a comprehensive analysis of wood residues used for meeting energy requirements in the Pacific Northwest region of the United States. These wood residues are generated primarily from cutting, sawing, planning, sanding, and debarking activities in the lumber and plywood industries. While high-quality wood residues are commonly used as raw material in the manufacture of pulp and board commodities, a very large amount of wood residues are ultimately used for plant fuel purposes. The characteristics of this market for hogged wood fuel are examined in depth, with particular emphasis given to the factors which affect the supply, demand and price of hogged wood. Hogged wood has played an enormous role in the Pacific Northwest for over sixty years, a result of the massive regional timber harvest. Utilization of this renewable energy resource continues to be a large component in regional energy supply. Despite having a large number of highly integrated mills that both use and produce wood residues, the Pacific Northwest region experiences a lively trade in hogged wood. The IGT study discussed herein examines the determinants of the regional market price for hogged wood. A number of useful leading indicators are identified, and a statistical forecasting model is prepared to help predict future hogged wood prices. This model provides insight into the factors that are, and are not, important determinants of hogged wood price. The issue of fuel substitution is addressed in relation to the potential of hogged wood to displace some amount of primary energy sources such as natural gas and electricity. Also examined in the study are techniques to estimate the actual quantity of hogged wood available, and the quantity demanded by the marketplace. Conclusions presented in the study have important ramifications for understanding the price behavior and utilization of hogged wood fuel. 4 refs., 12 figs

  14. Fuel price and technological uncertainty in a real options model for electricity planning

    International Nuclear Information System (INIS)

    Fuss, Sabine; Szolgayova, Jana

    2010-01-01

    Electricity generation is an important source of total CO 2 emissions, which in turn have been found to relate to an acceleration of global warming. Given that many OECD countries have to replace substantial portions of their electricity-generating capacity over the next 10-20 years, investment decisions today will determine the CO 2 -intensity of the future energy mix. But by what type of power plants will old (mostly fossil-fuel-fired) capacity be replaced? Given that modern, less carbon-intensive technologies are still expensive but can be expected to undergo improvements due to technical change in the near future, they may become more attractive, especially if fossil fuel price volatility makes traditional technologies more risky. At the same time, technological progress is an inherently uncertain process itself. In this paper, we use a real options model with stochastic technical change and stochastic fossil fuel prices in order to investigate their impact on replacement investment decisions in the electricity sector. We find that the uncertainty associated with the technological progress of renewable energy technologies leads to a postponement of investment. Even the simultaneous inclusion of stochastic fossil fuel prices in the same model does not make renewable energy competitive compared to fossil-fuel-fired technology in the short run based on the data used. This implies that policymakers have to intervene if renewable energy is supposed to get diffused more quickly. Otherwise, old fossil-fuel-fired equipment will be refurbished or replaced by fossil-fuel-fired capacity again, which enforces the lock-in of the current system into unsustainable electricity generation. (author)

  15. Oil price, government policies fuel industry's shift from U.S

    International Nuclear Information System (INIS)

    Silas, C.J.

    1991-01-01

    The world exploration outlook starts with the outlook for the price of oil. This paper reports that oil prices and government policies for fuel industries shift from the U.S. If we've learned anything in the past decade it's that we're not very good at predicting oil prices. We can build economic models of supply and demand but we can't build models for political events in the Middle East or the actions of someone like Saddam Hussein. As we look to 2000 our best estimate is that oil will remain at about $20 for the near term and move upward very gradually during the rest of the decade. Of course, rising demand eventually should cause oil prices to break out and show some strength. But not soon. We don't see oil prices overcoming inflation until the latter part of the decade. And we aren't expecting oil prices much above $25 in inflation adjusted terms until the next century

  16. Volatile behaviour of enrichment uranium in the total nuclear fuel price

    International Nuclear Information System (INIS)

    Arnaiz, J.; Inchausti, J. M.; Tarin, F.

    2004-01-01

    In this article the historical high volatile behaviour of the total nuclear fuel price is evaluated quantitatively and it is concluded that it has been due mainly to the fluctuations of the price of the principal components of enriched uranium (concentrates and enrichment). In order to avoid the negative effects of this volatiles behaviour as far as possible, a basic strategy in the uranium procurement activities is recommended (union of buyers, diversification of supplier, stock management, optimisation of contract portfolio and suitable currency management that guarantees a reliable uranium supply at reasonable prices. These guidelines are those that ENUSA has been following on behalf of the Spanish Utilities in the Commission of Uranium Procurement (CAU in Spanish). (Author) 11 refs

  17. How to Avoid the Usual Price Rule on the Fuel Market in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Pavel Semerád

    2016-01-01

    Full Text Available The paper deals with value added tax evasions on the fuel market in the Czech Republic. This commodity is used in carousel fraud. In the chains of taxpayers there are missing traders who fail to meet their tax obligations. Their business strategy is based on quick sales at unusually low prices which do not allow honest parties to compete. Tax administrators should focus on unusual prices which constitute a higher probability of tax evasions. This paper aims to verify whether or not there are ways to evade the measure, focusing specifically on applying methods which could help achieve lower sales prices while avoiding the possibility to require unpaid tax from the recipients of taxable supply. The weaknesses thus found are described and demonstrated in more detail in the paper. During a research some ways were found which could be used for avoiding this specific measure. Methods of Cash Back and Free Shipping were identified and described.

  18. Statistical model for forecasting uranium prices to estimate the nuclear fuel cycle cost

    Energy Technology Data Exchange (ETDEWEB)

    Kim, Sung Ki; Ko, Won Il; Nam, Hyoon [Nuclear Fuel Cycle Analysis, Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of); Kim, Chul Min; Chung, Yang Hon; Bang, Sung Sig [Korea Advanced Institute of Science and Technology, Daejeon (Korea, Republic of)

    2017-08-15

    This paper presents a method for forecasting future uranium prices that is used as input data to calculate the uranium cost, which is a rational key cost driver of the nuclear fuel cycle cost. In other words, the statistical autoregressive integrated moving average (ARIMA) model and existing engineering cost estimation method, the so-called escalation rate model, were subjected to a comparative analysis. When the uranium price was forecasted in 2015, the margin of error of the ARIMA model forecasting was calculated and found to be 5.4%, whereas the escalation rate model was found to have a margin of error of 7.32%. Thus, it was verified that the ARIMA model is more suitable than the escalation rate model at decreasing uncertainty in nuclear fuel cycle cost calculation.

  19. Statistical model for forecasting uranium prices to estimate the nuclear fuel cycle cost

    International Nuclear Information System (INIS)

    Kim, Sung Ki; Ko, Won Il; Nam, Hyoon; Kim, Chul Min; Chung, Yang Hon; Bang, Sung Sig

    2017-01-01

    This paper presents a method for forecasting future uranium prices that is used as input data to calculate the uranium cost, which is a rational key cost driver of the nuclear fuel cycle cost. In other words, the statistical autoregressive integrated moving average (ARIMA) model and existing engineering cost estimation method, the so-called escalation rate model, were subjected to a comparative analysis. When the uranium price was forecasted in 2015, the margin of error of the ARIMA model forecasting was calculated and found to be 5.4%, whereas the escalation rate model was found to have a margin of error of 7.32%. Thus, it was verified that the ARIMA model is more suitable than the escalation rate model at decreasing uncertainty in nuclear fuel cycle cost calculation

  20. Payback Period for Emissions Abatement Alternatives: Role of Regulation and Fuel Prices

    DEFF Research Database (Denmark)

    Zis, Thalis; Angeloudis, Panagiotis; Bell, Michael G. H.

    2016-01-01

    As of January 2015, the new maximum limit of fuel sulfur content for ships sailing within emission control areas has been reduced to 0.1%. A critical decision for ship owners in advance of the new limits was the selection of an abatement method that complies with the regulations. Two main options...... exist: investing in scrubber systems that remove sulfur dioxide emissions from the exhaust and switching to low-sulfur fuel when sailing in regulated waters. The first option would involve significant capital costs, while the latter would lead to operating cost increases because of the higher price...

  1. Extreme Weather and Civil War in Somalia: Does Drought Fuel Conflict through Livestock Price Shocks?

    OpenAIRE

    Maystadt, Jean-Francois; Ecker, Olivier; Mabiso, Athur

    2013-01-01

    Climate change leads to more frequent and more intense droughts in Somalia. In a global context, weather shocks have been found to perpetuate poverty and fuel civil conflict. By relating regional and temporal variations in violent conflict outbreaks with drought incidence and severity, we show that this causality is valid also for Somalia at the local level. We find that livestock price shocks drive drought-induced conflicts through reducing the opportunity costs of conflict participation. Ou...

  2. Optimal fuel-mix in CHP plants under a stochastic permit price. Risk-neutrality versus risk-aversion

    International Nuclear Information System (INIS)

    Lappi, Pauli; Ollikka, Kimmo; Ollikainen, Markku

    2010-01-01

    This paper studies the optimal fuel-mix of a CHP producer under emission permit price risk. The producer's multi-fuel plant uses two CO 2 -intensive fuels and one clean fuel. Using a mean-variance framework we develop three models. The models are divided into spot-models (risk neutral and risk averse cases) and a forward-model (risk averse case). We derive the effects of price risk on optimal fuel use. An increase in price risk can in fact increase the use of CO 2 -intensive fuel in the spot-model. In the forward-model, the production and financial decisions are separate. We also evaluate the risk-bearing behavior of seven Finnish CHP producers. We found that risk-neutrality describes behavior better than risk-aversion. (author)

  3. Optimal fuel-mix in CHP plants under a stochastic permit price. Risk-neutrality versus risk-aversion

    Energy Technology Data Exchange (ETDEWEB)

    Lappi, Pauli; Ollikka, Kimmo; Ollikainen, Markku [Department of Economics and Management, P.O. Box 27, University of Helsinki, FIN-00014 Helsinki (Finland)

    2010-02-15

    This paper studies the optimal fuel-mix of a CHP producer under emission permit price risk. The producer's multi-fuel plant uses two CO{sub 2}-intensive fuels and one clean fuel. Using a mean-variance framework we develop three models. The models are divided into spot-models (risk neutral and risk averse cases) and a forward-model (risk averse case). We derive the effects of price risk on optimal fuel use. An increase in price risk can in fact increase the use of CO{sub 2}-intensive fuel in the spot-model. In the forward-model, the production and financial decisions are separate. We also evaluate the risk-bearing behavior of seven Finnish CHP producers. We found that risk-neutrality describes behavior better than risk-aversion. (author)

  4. Optimal fuel-mix in CHP plants under a stochastic permit price: Risk-neutrality versus risk-aversion

    Energy Technology Data Exchange (ETDEWEB)

    Lappi, Pauli, E-mail: pauli.lappi@helsinki.f [Department of Economics and Management, P.O. Box 27, University of Helsinki, FIN-00014 Helsinki (Finland); Ollikka, Kimmo, E-mail: kimmo.ollikka@helsinki.f [Department of Economics and Management, P.O. Box 27, University of Helsinki, FIN-00014 Helsinki (Finland); Ollikainen, Markku, E-mail: markku.ollikainen@helsinki.f [Department of Economics and Management, P.O. Box 27, University of Helsinki, FIN-00014 Helsinki (Finland)

    2010-02-15

    This paper studies the optimal fuel-mix of a CHP producer under emission permit price risk. The producer's multi-fuel plant uses two CO{sub 2}-intensive fuels and one clean fuel. Using a mean-variance framework we develop three models. The models are divided into spot-models (risk neutral and risk averse cases) and a forward-model (risk averse case). We derive the effects of price risk on optimal fuel use. An increase in price risk can in fact increase the use of CO{sub 2}-intensive fuel in the spot-model. In the forward-model, the production and financial decisions are separate. We also evaluate the risk-bearing behavior of seven Finnish CHP producers. We found that risk-neutrality describes behavior better than risk-aversion.

  5. Price and income elasticities of demand for passenger transport fuels in Spain. Implications for public policies

    International Nuclear Information System (INIS)

    Romero-Jordan, Desiderio; Del Rio, Pablo; Jorge-Garcia, Marta; Burguillo, Mercedes

    2010-01-01

    The significant increase in passenger transport activity (cars) experienced by Spain and its associated increase in energy consumption have several associated negative aspects, including a greater dependence on foreign energy sources and higher GHG emissions. Therefore, reducing the level of transport activity would bring important socioeconomic and environmental benefits. The aim of this paper, which focuses on energy consumption in the passenger transport, is fourfold: (1) to provide a diagnostic of energy consumption in the Spanish passenger transport system and the related problems; (2) to develop a model to calculate price and income elasticities of demand for transport fuel; (3) to apply this model to the Spanish passenger transport sector; (4) to infer policy recommendations derived from the results of the diagnostic and the model. It is claimed that, in view of those low price elasticities and high income elasticities and if a reduction in the scale of transport activity is deemed socially desirable, a combination of instruments is necessary. Fuel taxes play an important role within this combination. Apart from their long-term effects, the low price elasticity of demand for transport fuel would allow the collection of a significant amount of revenues, which could eventually be earmarked to encourage reductions in private transport demand and modal shifts with other instruments. (author)

  6. Price and income elasticities of demand for passenger transport fuels in Spain. Implications for public policies

    Energy Technology Data Exchange (ETDEWEB)

    Romero-Jordan, Desiderio [Universidad Rey Juan Carlos, Madrid (Spain); Del Rio, Pablo [Institute for Public Goods and Policies (IPP), Consejo Superior de Investigaciones Cientificas (CSIC), C/Albasanz, 26-28, Madrid 28037 (Spain); Jorge-Garcia, Marta [Universidad de Leon (Spain); Burguillo, Mercedes [Universidad de Alcala (Spain)

    2010-08-15

    The significant increase in passenger transport activity (cars) experienced by Spain and its associated increase in energy consumption have several associated negative aspects, including a greater dependence on foreign energy sources and higher GHG emissions. Therefore, reducing the level of transport activity would bring important socioeconomic and environmental benefits. The aim of this paper, which focuses on energy consumption in the passenger transport, is fourfold: (1) to provide a diagnostic of energy consumption in the Spanish passenger transport system and the related problems; (2) to develop a model to calculate price and income elasticities of demand for transport fuel; (3) to apply this model to the Spanish passenger transport sector; (4) to infer policy recommendations derived from the results of the diagnostic and the model. It is claimed that, in view of those low price elasticities and high income elasticities and if a reduction in the scale of transport activity is deemed socially desirable, a combination of instruments is necessary. Fuel taxes play an important role within this combination. Apart from their long-term effects, the low price elasticity of demand for transport fuel would allow the collection of a significant amount of revenues, which could eventually be earmarked to encourage reductions in private transport demand and modal shifts with other instruments. (author)

  7. Prices of agricultural commodities, biofuels and fossil fuels in long-run relationships: a comparative study for the USA and Europe

    DEFF Research Database (Denmark)

    Groth, Tanja; Bentzen, Jan

    2013-01-01

    Time-series data for the USA and Europe representing prices of agricultural commodities, biofuels and fossil fuels are used for a comparative analysis of long-run price relationships. There is some evidence for cointegration between ethanol and gasoline, especially for the USA, and in the case...... of biodiesel, stronger evidence of cointegration between biodiesel, diesel and soya oil for both the USA and Europe. Finally, biofuel prices do not seem to influence agricultural commodity prices or fossil fuel prices....

  8. Price

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    The price terms in wheeling contracts very substantially, reflecting the differing conditions affecting the parties contracting for the service. These terms differ in the manner in which rates are calculated, the formulas used, and the philosophy underlying the accord. For example, and EEI study found that firm wheeling rates ranged from 20 cents to $1.612 per kilowatt per month. Nonfirm rates ranged from .15 mills to 5.25 mills per kilowatt-hour. The focus in this chapter is on cost-based rates, reflecting the fact that the vast majority of existing contracts are based on rate designs reflecting embedded costs. This situation may change in the future, but, for now, this fact can't be ignored

  9. The unstudied barriers to widespread renewable energy deployment: Fossil fuel price responses

    International Nuclear Information System (INIS)

    Foster, Edward; Contestabile, Marcello; Blazquez, Jorge; Manzano, Baltasar; Workman, Mark; Shah, Nilay

    2017-01-01

    Renewable energy policy focuses on supporting the deployment of renewable power generators so as to reduce their costs through scale economies and technological learning. It is expected that, once cost parity with fossil fuel generation is achieved, a transition towards renewable power should continue without the need for further renewable energy subsidies. However, this reasoning implicitly assumes that the cost of fossil fuel power generation does not respond to the large scale penetration of renewable power. In this paper we build a standard economic framework to test the validity of this assumption, particularly in the case of coal and gas fired power generation. We find that it is likely that the cost of fossil fuel power generation will respond to the large scale penetration of renewables, thus making the renewable energy transition slower or more costly than anticipated. More analysis is needed in order to be able to quantify this effect, the occurrence of which should be considered in the renewable energy discourse. - Highlights: • Renewables are increasingly competing with fossil fuel power generation. • This may have various effects on the fossil fuel generation value chain. • One such possible effect is a response of fossil fuel prices to renewables deployment. • We have tested this hypothesis using a supply-demand analytical framework. • We found that the effect is likely to occur and should be further investigated.

  10. Regarding fuel prices and automobility. A brief analysis of price and cost elasticities; Over brandstofprijzen en automobiliteit. Een beknopte analyse van prijs- en kostenelasticiteit

    Energy Technology Data Exchange (ETDEWEB)

    Groot, W.

    2012-01-15

    Car drivers do not drive significantly less when fuel prices at the pump rise. If fuel prices increase by approximately 12.5 percent, the long-term decrease in car kilometres travelled is just 2.5 percent. Higher fuel prices have also not resulted in a more fuel-efficient 'car fleet' (i.e. the range of available car model types). The fuel consumption rate per kilometre remained relatively constant from the late 1980s to 2009, although recent years have seen a marked improvement in the per kilometre fuel consumption rate, as measured in CO2 emissions of new passenger cars. These were the findings of the title study, conducted by the KiM Netherlands Institute for Transport Policy Analysis. This study was based on data covering the period 1980 to 2009. The majority of the definitive effects of higher fuel prices revealed in this study were less pronounced than the effects previously cited in available literature, especially with regard to the long-term effects [Dutch] Uit de titel studie blijkt dat automobilisten in beperkte mate minder gaan rijden als de brandstofprijzen aan de pomp stijgen. Een stijging van de benzineprijs met ongeveer 12,5 procent leidt op langere termijn tot een vermindering van de hoeveelheid afgelegde kilometers met 2,5 procent. De hoge brandstofprijzen hebben ook niet geleid tot een zuiniger wagenpark. Het benzineverbruik per kilometer is tussen het eind van de jaren tachtig en 2009 vrijwel gelijk gebleven. Met als kanttekening dat in de meest recente jaren sprake is van een zichtbare verbetering van het verbruik per kilometer, afgemeten aan de CO2-uitstoot van nieuwe personenauto's. Het KiM heeft zich in de studie gebaseerd op cijfers over de periode 1980-2009. De meeste in het onderzoek vastgestelde effecten van hogere benzineprijzen zijn kleiner dan de effecten die in de beschikbare literatuur zijn aangetroffen. Dit geldt vooral voor de effecten op de lange termijn.

  11. Regarding fuel prices and automobility. A brief analysis of price and cost elasticities; Over brandstofprijzen en automobiliteit. Een beknopte analyse van prijs- en kostenelasticiteit

    Energy Technology Data Exchange (ETDEWEB)

    Groot, W.

    2012-01-15

    Car drivers do not drive significantly less when fuel prices at the pump rise. If fuel prices increase by approximately 12.5 percent, the long-term decrease in car kilometres travelled is just 2.5 percent. Higher fuel prices have also not resulted in a more fuel-efficient 'car fleet' (i.e. the range of available car model types). The fuel consumption rate per kilometre remained relatively constant from the late 1980s to 2009, although recent years have seen a marked improvement in the per kilometre fuel consumption rate, as measured in CO2 emissions of new passenger cars. These were the findings of the title study, conducted by the KiM Netherlands Institute for Transport Policy Analysis. This study was based on data covering the period 1980 to 2009. The majority of the definitive effects of higher fuel prices revealed in this study were less pronounced than the effects previously cited in available literature, especially with regard to the long-term effects [Dutch] Uit de titel studie blijkt dat automobilisten in beperkte mate minder gaan rijden als de brandstofprijzen aan de pomp stijgen. Een stijging van de benzineprijs met ongeveer 12,5 procent leidt op langere termijn tot een vermindering van de hoeveelheid afgelegde kilometers met 2,5 procent. De hoge brandstofprijzen hebben ook niet geleid tot een zuiniger wagenpark. Het benzineverbruik per kilometer is tussen het eind van de jaren tachtig en 2009 vrijwel gelijk gebleven. Met als kanttekening dat in de meest recente jaren sprake is van een zichtbare verbetering van het verbruik per kilometer, afgemeten aan de CO2-uitstoot van nieuwe personenauto's. Het KiM heeft zich in de studie gebaseerd op cijfers over de periode 1980-2009. De meeste in het onderzoek vastgestelde effecten van hogere benzineprijzen zijn kleiner dan de effecten die in de beschikbare literatuur zijn aangetroffen. Dit geldt vooral voor de effecten op de lange termijn.

  12. PRICE TRANSMISSION AND HOUSEHOLDS DEMAND ELASTICITY FOR FROZEN FISH UNDER FUEL SUBSIDY REFORM IN DELTA STATE, NIGERIA

    Directory of Open Access Journals (Sweden)

    Achoja Felix Odemero

    2013-07-01

    Full Text Available Fuel subsidy removal is assumed to translate to general increase in the cost of operating business such as fish marketing.The response of price of fish and corresponding demand elasticity are welfare issues worthy of investigation in Nigeria. The present study evaluates price transmission in fish marketing system by analysing the response of fish market indices to fuel subsidy reform in Nigeria. Primary data collected with structured questionnaire from purposively selected 78 frozen fish marketers, were analysed with descriptive statistics and regression model. A test of hypothesis shows a significant price transmission of about 100% (P < 0.05. Marketing cost increased by 31.8% and profitability dropped by 24.20%, confirming negative effect of new price regime. The result further revealed a 0.05% drop in quantity of frozen fish demanded by households. It was recommended that economic measures should be introduced by the government to cushion the effect of fuel policy removal.

  13. Network-based model for predicting the effect of fuel price on transit ridership and greenhouse gas emissions

    Directory of Open Access Journals (Sweden)

    Michael W. Levin

    2017-12-01

    Full Text Available As fuel prices increase, drivers may make travel choices to minimize not only travel time, but also fuel consumption. Consideration of fuel consumption would affect route choice and influence trip frequency and mode choice. For instance, travelers may elect to live closer to their workplace, or use public transit to avoid fuel consumption and the associated costs. To incorporate network characteristics into predictions of the effects of fuel prices, we develop a multi-class combined elastic demand, mode choice, and user equilibrium model using a generalized cost function of travel time and fuel consumption with a combined solution algorithm. The algorithm is implemented in a custom software package, and a case study application on the Austin, Texas network is presented. We evaluate the fuel-price sensitivity of key variables such as drive-alone and transit class proportions, person-miles traveled, link-level traffic flow and per capita fuel consumption and emissions. These effects are examined across a heterogeneous demand set, with multiple user-classes categorized based on their value of travel time. The highest relative transit elasticities against fuel price are observed among low value of time classes, as expected. Although total personal vehicle travel decreases, congestion increases on some roads due to the generalized cost function. Reductions in system-wide fuel consumption and greenhouse gas emissions are observed as well. The study uncovers the combined interactions among fuel prices, multi-modal choice behavior, travel performance, and resultant environmental impacts, all of which dictate the urban travel market. It also equips agencies with motivation to tailor emissions reduction and transit-ridership stimulus policies around the most responsive user classes.

  14. Sensitivities and Tipping Points of Power System Operations to Fluctuations Caused by Water Availability and Fuel Prices

    Science.gov (United States)

    O'Connell, M.; Macknick, J.; Voisin, N.; Fu, T.

    2017-12-01

    The western US electric grid is highly dependent upon water resources for reliable operation. Hydropower and water-cooled thermoelectric technologies represent 67% of generating capacity in the western region of the US. While water resources provide a significant amount of generation and reliability for the grid, these same resources can represent vulnerabilities during times of drought or low flow conditions. A lack of water affects water-dependent technologies and can result in more expensive generators needing to run in order to meet electric grid demand, resulting in higher electricity prices and a higher cost to operate the grid. A companion study assesses the impact of changes in water availability and air temperatures on power operations by directly derating hydro and thermo-electric generators. In this study we assess the sensitivities and tipping points of water availability compared with higher fuel prices in electricity sector operations. We evaluate the impacts of varying electricity prices by modifying fuel prices for coal and natural gas. We then analyze the difference in simulation results between changes in fuel prices in combination with water availability and air temperature variability. We simulate three fuel price scenarios for a 2010 baseline scenario along with 100 historical and future hydro-climate conditions. We use the PLEXOS electricity production cost model to optimize power system dispatch and cost decisions under each combination of fuel price and water constraint. Some of the metrics evaluated are total production cost, generation type mix, emissions, transmission congestion, and reserve procurement. These metrics give insight to how strained the system is, how much flexibility it still has, and to what extent water resource availability or fuel prices drive changes in the electricity sector operations. This work will provide insights into current electricity operations as well as future cases of increased penetration of variable

  15. Price elasticity of Swiss motor fuel demand; Elasticite-prix de la demande d'essence en Suisse

    Energy Technology Data Exchange (ETDEWEB)

    Baranzini, A. [Haute Ecole de Gestion de Geneve (HEG-Geneve), Centre de Recherche Appliquee en Gestion (CRAG), Carouge (Switzerland); Neto, D.; Weber, S. [Universite de Geneve, Laboratoire d' Economie Appliquee (LEA), Geneve (Switzerland)

    2009-07-15

    This report for the Swiss Federal Office of Energy (SFOE) by the University of Geneva takes a look at the price elasticity of motor fuel demand in Switzerland. Macro-economic data on petrol and diesel consumption is used to calculate short and long-term price elasticity. Various factors that have an influence on prices are discussed. Data for the period 1970 - 2008 is used. A method developed by Engle and Granger is used to examine short and long-term developments in this area. A large number of variables are used in mathematical models to explain price developments. The methods used are described and the results are presented in tabular form. Various external effects such the oil-price shocks and price developments in neighbouring countries are examined.

  16. Price elasticity of Swiss motor fuel demand; Elasticite-prix de la demande d'essence en Suisse

    Energy Technology Data Exchange (ETDEWEB)

    Baranzini, A. [Haute Ecole de Gestion de Geneve (HEG-Geneve), Centre de Recherche Appliquee en Gestion (CRAG), Carouge (Switzerland); Neto, D.; Weber, S. [Universite de Geneve, Laboratoire d' Economie Appliquee (LEA), Geneve (Switzerland)

    2009-07-15

    This report for the Swiss Federal Office of Energy (SFOE) by the University of Geneva takes a look at the price elasticity of motor fuel demand in Switzerland. Macro-economic data on petrol and diesel consumption is used to calculate short and long-term price elasticity. Various factors that have an influence on prices are discussed. Data for the period 1970 - 2008 is used. A method developed by Engle and Granger is used to examine short and long-term developments in this area. A large number of variables are used in mathematical models to explain price developments. The methods used are described and the results are presented in tabular form. Various external effects such the oil-price shocks and price developments in neighbouring countries are examined.

  17. Short‑Term and Long‑Term Relationships Between Prices of Imported Oil and Fuel Products in the U. S.

    Directory of Open Access Journals (Sweden)

    Václav Adamec

    2016-01-01

    Full Text Available In this study, we analyzed a system of five monthly time series integrated I(1: average price of crude oil imported to the U.S. from OPEC countries (Opec, imported oil price from other than OPEC countries (NonOpec in USD per barrel, average price of regular gasoline in the U.S. (Regular, premium quality gasoline price (Premium and kerosene price (Kerosene in U.S. cents per gallon. Cointegration was established by EG test and the series were analyzed by VECM model with lag selected via BIC criterion. Cointegration rank was determined by the Johansen procedure. According to VECM coefficients, prices of oil from OPEC countries and beyond OPEC exert influence upon all commodity prices in the system, but in a contradictory manner. Responses to innovation shocks in Opec and NonOpec stabilized within 8 to 10 months upon a nonzero shift and further became permanent. Innovation shock in both types of gasoline and Kerosene had only short-term significant impact upon the system. Forecast error variance in all variables is explained mainly by variation in oil prices, especially Opec, which persists with increased horizon. For a short horizon h = 1, FEVDs in gasoline and kerosene prices are primarily made of variation in the respective fuel prices.

  18. The substitutive effect of biofuels on fossil fuels in the lower and higher crude oil price periods

    International Nuclear Information System (INIS)

    Chang, Ting-Huan; Su, Hsin-Mei

    2010-01-01

    Various biofuels, including bioethanol and biodiesel are technologically being considered replacements for fossil fuels, such as the conventional gasoline and diesel. This paper aims to measure whether economic substitutability can be generated during periods of higher and/or lower prices of crude oil. The empirical results of the bivariate EGARCH model prove that this substitutive effect was occurred during the higher crude oil price period due to the significant price spillover effects from crude oil futures to corn and soybean futures, indicating that the increase in food prices can be attributed to more consumption of biofuels. We suggest more extensive research in the search for fuel alternatives from inedible feedstock such as pongamia, jojoba, jatropha, especially the 2nd generation biofuel technologies such as algae-based biofuels. (author)

  19. The substitutive effect of biofuels on fossil fuels in the lower and higher crude oil price periods

    Energy Technology Data Exchange (ETDEWEB)

    Chang, Ting-Huan [Energy and Environment Research Laboratories, Industrial Technology Research Institute, Hsinchu County 310 (China); Department of Banking and Finance, Tamkang University, No.151, Ying-Chuan Road, Taipei County 251 (China); Su, Hsin-Mei [Department of Banking and Finance, Tamkang University, No.151, Ying-Chuan Road, Taipei County 251 (China)

    2010-07-15

    Various biofuels, including bioethanol and biodiesel are technologically being considered replacements for fossil fuels, such as the conventional gasoline and diesel. This paper aims to measure whether economic substitutability can be generated during periods of higher and/or lower prices of crude oil. The empirical results of the bivariate EGARCH model prove that this substitutive effect was occurred during the higher crude oil price period due to the significant price spillover effects from crude oil futures to corn and soybean futures, indicating that the increase in food prices can be attributed to more consumption of biofuels. We suggest more extensive research in the search for fuel alternatives from inedible feedstock such as pongamia, jojoba, jatropha, especially the 2nd generation biofuel technologies such as algae-based biofuels. (author)

  20. Lowering Saudi Arabia's fuel consumption and energy system costs without increasing end consumer prices

    International Nuclear Information System (INIS)

    Matar, Walid; Murphy, Frederic; Pierru, Axel; Rioux, Bertrand

    2015-01-01

    Using a multi-sector equilibrium model of the Saudi energy system that handles administered prices in a mixed-complementarity formulation, we present results from a set of policy scenarios that lower oil consumption in the country. Some of these scenarios are the solutions to Mathematical Programs subject to Equilibrium Constraints (MPECs) that maximize the net economic gain for the Saudi economy. The policies examined have the potential to generate economic gains exceeding 23 billion USD in 2011, or about 4% of Saudi Arabia's GDP. This economic gain comes mainly from inter-sectoral fuel pricing policies that incent shifting the mix in technologies that generate electricity and produce water from energy intensive technologies to more efficient ones. We show that when complemented by credits for investments in solar and nuclear power generation capacities, a modest increase in the transfer prices of fuels among sectors is sufficient to produce economic gains close to those achieved by deregulating transfer prices. The approach we develop here is an alternative to the classic recommendation of deregulating inter-sectoral fuel prices in situations where the conditions for successful liberalized markets do not exist. It is a template for introducing the notions of incentivizing behavior using prices into countries that rely more on administrative procedures than markets, leading to a deeper understanding of how markets can lead to economic gain. - Highlights: • The policies examined would have potentially generated economic gains exceeding 23 billion USD in 2011. • We design policies that produce economic benefits close to those achieved by deregulating inter-sectoral fuel prices. • This paper provides a template for building multi-sector models when transfer prices between sectors are administered

  1. Lumped-parameter fuel rod model for rapid thermal transients

    International Nuclear Information System (INIS)

    Perkins, K.R.; Ramshaw, J.D.

    1975-07-01

    The thermal behavior of fuel rods during simulated accident conditions is extremely sensitive to the heat transfer coefficient which is, in turn, very sensitive to the cladding surface temperature and the fluid conditions. The development of a semianalytical, lumped-parameter fuel rod model which is intended to provide accurate calculations, in a minimum amount of computer time, of the thermal response of fuel rods during a simulated loss-of-coolant accident is described. The results show good agreement with calculations from a comprehensive fuel-rod code (FRAP-T) currently in use at Aerojet Nuclear Company

  2. A prospective analysis of Brazilian biofuel economy: Land use, infrastructure development and fuel pricing policies

    Science.gov (United States)

    Nunez Amortegui, Hector Mauricio

    Being the two largest ethanol producers in the world, transportation fuel policies in Brazil and the U.S. affect not only their domestic markets but also the global food and biofuel economy. Hence, the complex biofuel policy climate in these countries leaves the public with unclear conclusions about the prospects for supply and trade of agricultural commodities and biofuels. In this dissertation I develop a price endogenous mathematical programming model to simulate and analyze the impacts of biofuel policies in Brazil and the U.S. on land use in these countries, agricultural commodity and transportation fuel markets, trade, and global environment. The model maximizes the social surplus represented by the sum of producers' and consumers' surpluses, including selected agricultural commodity markets and fuel markets in the U.S., Brazil, Argentina, China, and the Rest-of-the-World (ROW), subject to resource limitations, material balances, technical constraints, and policy restrictions. Consumers' surplus is derived from consumption of agricultural commodities and transportation fuels by vehicles that generate vehicle-kilometers-traveled (VKT). While in the other regional components aggregate supply and demand functions are assumed for the commodities included in the analysis, the agricultural supply component is regionally disaggregated for Brazil and the U.S., and the transportation fuel sector is regionally disaggregated for Brazil. The U.S. agricultural supply component includes production of fourteen major food/feed crops, including soybeans, corn and wheat, and cellulosic biofuel feedstocks. The Brazil component includes eight major annual crops, including soybeans, corn, wheat, and rice, and sugarcane as the energy crop. A particular emphasis is given to the beef-cattle production in Brazil and the potential for livestock semi-intensification in Brazilian pasture grazing systems as a prospective pathway for releasing new croplands. In the fuel sector of both

  3. Pricing for a Durable-Goods Monopolist Under Rapid Sequential Innovation

    OpenAIRE

    Laura J. Kornish

    2001-01-01

    A durable-goods monopolist who will be introducing new and improved versions of his product must decide how to price his products, keeping in mind the relative attractiveness of the current and future products. Dhebar (1994) has shown that if technology is changing too quickly and the producer cannot credibly commit to future prices and quality, then no equilibrium strategy exists. That is, there is no credible strategy for the future product that the producer can commit to in the first perio...

  4. Analysis of consumer response to fuel price fluctuations applying sample selection model to GPS panel data : Dynamics in individuals' car use

    NARCIS (Netherlands)

    Yang, Dujuan; Timmermans, Harry

    2015-01-01

    The effects of fuel price increases on people's car use have been widely discussed during the last few decades in travel behavior research. It is well recognized that fuel price has significant effects on driving distance and driving efficiency. However, most of this research assumed that these

  5. Fossil fuel subsidy reform in the WTO : Options for constraining dual pricing in the multilateral trading system

    NARCIS (Netherlands)

    Marhold, Anna

    2017-01-01

    Fossil fuel subsidies harm the environment, add to health hazards caused by air pollution, and delay the energy transition. Scholars and practitioners have therefore been exploring ways to reform and eliminate them. This paper discusses the practice of energy dual pricing in the broader context of

  6. Rapid prototyping methods for the manufacture of fuel cells

    Directory of Open Access Journals (Sweden)

    Dudek Piotr

    2016-01-01

    The potential for the application of this method for the manufacture of metallic bipolar plates (BPP for use in proton exchange membrane fuel cells (PEMFCs is presented and discussed. Special attention is paid to the fabrication of light elements for the construction of PEMFC stacks designed for mobile applications such as aviation technology and unmanned aerial vehicles (UAVs.

  7. Part-load performance and emissions of a spark ignition engine fueled with RON95 and RON97 gasoline: Technical viewpoint on Malaysia’s fuel price debate

    International Nuclear Information System (INIS)

    Mohamad, Taib Iskandar; How, Heoy Geok

    2014-01-01

    Highlights: • Recent Malaysia’s gasoline price hike affects mass perception and vehicle sales. • Effects of RON95 and RON97 on a representative engine was experimentally studied. • RON95 produced better torque, power, fuel efficiency and lower NO x . • RON97 gasoline resulted in lower BSFC and lower emissions of CO 2 , CO and HC. • Performance-emission-price cross-analysis indicated RON95 as the better option. - Abstract: Due to world crude oil price hike in the recent years, many countries have experienced increase in gasoline price. In Malaysia, where gasoline are sold in two grades; RON95 and RON97, and fuel price are regulated by the government, gasoline price have been gradually increased since 2009. Price rise for RON97 is more significant. By 2014, its per liter price is 38% more than that of RON95. This has resulted in escalated dissatisfaction among the mass. People argued they were denied from using a better fuel (RON97). In order to evaluate the claim, there is a need to investigate engine response to these two gasoline grades. The effect of gasoline RON95 and RON97 on performance and exhaust emissions in spark ignition engine was investigated on a representative engine: 1.6L, 4-cylinder Mitsubishi 4G92 engine with CR 11:1. The engine was run at constant speed between 1500 and 3500 rpm with 500 rpm increment at various part-load conditions. The original engine ECU, a hydraulic dynamometer and control, a combustion analyzer and an exhaust gas analyzer were used to determine engine performance, cylinder pressure and emissions. Results showed that RON95 produced higher engine performance for all part-load conditions within the speed range. RON95 produced on average 4.4% higher brake torque, brake power, brake mean effective pressure as compared to RON97. The difference in engine performance was more significant at higher engine speed and loads. Cylinder pressure and ROHR were evaluated and correlated with engine output. With RON95, the engine

  8. Fuel prices scenario generation based on a multivariate GARCH model for risk analysis in a wholesale electricity market

    International Nuclear Information System (INIS)

    Batlle, C.; Barquin, J.

    2004-01-01

    This paper presents a fuel prices scenario generator in the frame of a simulation tool developed to support risk analysis in a competitive electricity environment. The tool feeds different erogenous risk factors to a wholesale electricity market model to perform a statistical analysis of the results. As the different fuel series that are studied, such as the oil or gas ones, present stochastic volatility and strong correlation among them, a multivariate Generalized Autoregressive Conditional Heteroskedastic (GARCH) model has been designed in order to allow the generation of future fuel prices paths. The model makes use of a decomposition method to simplify the consideration of the multidimensional conditional covariance. An example of its application with real data is also presented. (author)

  9. Effect of heat storage and fuel price on energy management and economics of micro CCHP cogeneration systems

    Energy Technology Data Exchange (ETDEWEB)

    Askari, I. Baniasad [University of Zabol, Zabol (Iran, Islamic Republic of); Sadegh, M. Oukati [University of Sistan and Baluchestan, Zahedan (Iran, Islamic Republic of); Ameri, M. [Shahid Bahonar University, Kerman (Iran, Islamic Republic of)

    2014-05-15

    In the present work, a typical combined cooling, heating and power (CCHP) system comprised of boiler, flat solar collectors, absorption chiller and heat storage tank was investigated. The described system was considered to supply the given electricity, cooling and heating demand of a residential building; with heating and cooling needs of 100 and 50 kW, respectively. To find the optimum hybrid configurations with high reliability, low costs, low fuel consumption and emissions, a computer program was provided by authors in FORTRAN language. Different fuel prices were considered in the present work. The results indicated that the optimal operation strategy changes with Boiler and NGG fuel prices while it also changes with increasing the number of solar collectors, heat storage capacity and consequently decreasing total annual emission.

  10. Is the price effect on fuel consumption symmetric? some evidence from an empirical study

    International Nuclear Information System (INIS)

    Sentenac Chemin, E.

    2009-04-01

    We generally consider that the price elasticity of the energy demand is quite small. But it appears that strong increases in gasoline price lead to modifications in consumer behaviours. The high volatility of petroleum prices and thus gasoline prices and the strong increases since the beginning of 2000 justify an analysis of price effects on gasoline consumption. Thus, in this paper, we estimate the effects of price variations on gasoline consumption, in the short and the long-term, in two countries: the United States and India. We use a co-integration modelling to test for long-run relationship between gasoline consumption, income, price and vehicle ownership in the two countries. We use an error correction model to test for short-run prices effects and more precisely for asymmetric effects on demand of increases and decreases in gasoline prices. The main conclusions are the following. - The United States: (1) The long-term price elasticity is relatively high for an industrialised country because gasoline taxes are low (2) Households are more sensitive to a price increase than a price decrease. - India: (1) Price elasticity in the long-run is quite high but is quite small in the short run. It is not surprising for an emergent country (2) It seems that there is no asymmetric effect of price variations on gasoline consumption. (author)

  11. The True Cost of Coal. How people and the planet are paying the price for the world's dirtiest fuel

    International Nuclear Information System (INIS)

    Bjureby, Erika; Britten, Mareike; Cheng, Irish; Kazmierska, Marta; Mezak, Ernest; Munnik, Victor; Nandi, Jayashree; Pennington, Sara; Rochon, Emily; Schulz, Nina; Shahab, Nabiha; Vincent, Julien; Wei, Meng; Short, Rebecca

    2009-09-01

    Traditionally considered the cheapest fuel around, the market price for coal ignores its most significant impacts. These so-called 'external costs' manifests themselves as damages such as respiratory diseases, mining accidents, acid rain, smog pollution, reduced agricultural yields and climate change. The harm caused by mining and burning coal is not reflected in its price per ton or its costs for a kWh of electricity, but the world at large is nevertheless paying for it. This report seeks to answer the question: just how much are we paying?

  12. Is the price effect on fuel consumption symmetric? Some evidence from an empirical study

    International Nuclear Information System (INIS)

    Sentenac-Chemin, Elodie

    2012-01-01

    We generally consider that the price elasticity of the energy demand is quite small. But it appears that strong increases in gasoline price lead to modifications in consumer behaviors. The high volatility of petroleum prices and the strong increases since the beginning of 2000 justify an analysis of price effects on gasoline consumption. We estimate the effects of price variations on gasoline consumption, in the United States and India. We use a co-integration modelling to test for long-run relationship between gasoline consumption, income, price and vehicle ownership in the two countries. We use an error correction model to test for short-run prices effects and more precisely for asymmetric effects on demand of increases and decreases in gasoline prices. The main conclusions are the following. Concerning the United States, the long-term price elasticity is relatively high for an industrialised country because gasoline taxes are low, but we show that households are more sensitive to a price increase than a price decrease. About India, price elasticity in the long-run is quite high but is quite small in the short-run. It is not surprising for an emergent country. It seems that there is no asymmetric effect of price variations on gasoline consumption.

  13. Bulk Fuel Pricing: DOD Needs to Reevaluate Its Approach to Better Manage the Effect of Market Fluctuations

    Science.gov (United States)

    2014-07-01

    depression in the price of WTI was a result of rapid growth in U.S. and Canadian oil production, which overwhelmed the transportation infrastructure...additional information. Connect with GAO on Facebook, Flickr, Twitter, and YouTube . Subscribe to our RSS Feeds or E-mail Updates. Listen to our

  14. Fuel consumption: short term and long term price impacts per population type; Consommation de carburant: effets des prix a court et a long termes par type de population

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    This report presents assessments of the price sensitivity of household fuel consumption. After a literature review on price-elasticity assessments and the use of pseudo-panels, the investigation analyses the deciding factors of the household fuel expense and its evolution between 1985 and 2006. It proposes a short term price-elasticity assessment based on the most recent survey, and also proposes price-elasticity assessments for sub-populations, notably in terms of income level or location (rural or urban areas)

  15. The Value of Renewable Energy as a Hedge Against Fuel Price Risk: Analytic Contributions from Economic and Finance Theory

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark A; Wiser, Ryan

    2008-09-15

    For better or worse, natural gas has become the fuel of choice for new power plants being built across the United States. According to the Energy Information Administration (EIA), natural gas-fired units account for nearly 90% of the total generating capacity added in the U.S. between 1999 and 2005 (EIA 2006b), bringing the nationwide market share of gas-fired generation to 19%. Looking ahead over the next decade, the EIA expects this trend to continue, increasing the market share of gas-fired generation to 22% by 2015 (EIA 2007a). Though these numbers are specific to the US, natural gas-fired generation is making similar advances in many other countries as well. A large percentage of the total cost of gas-fired generation is attributable to fuel costs--i.e., natural gas prices. For example, at current spot prices of around $7/MMBtu, fuel costs account for more than 75% of the levelized cost of energy from a new combined cycle gas turbine, and more than 90% of its operating costs (EIA 2007a). Furthermore, given that gas-fired plants are often the marginal supply units that set the market-clearing price for all generators in a competitive wholesale market, there is a direct link between natural gas prices and wholesale electricity prices. In this light, the dramatic increase in natural gas prices since the 1990s should be a cause for ratepayer concern. Figure 1 shows the daily price history of the 'first-nearby' (i.e., closest to expiration) NYMEX natural gas futures contract (black line) at Henry Hub, along with the futures strip (i.e., the full series of futures contracts) from August 22, 2007 (red line). First, nearby prices, which closely track spot prices, have recently been trading within a $7-9/MMBtu range in the United States and, as shown by the futures strip, are expected to remain there through 2012. These price levels are $6/MMBtu higher than the $1-3/MMBtu range seen throughout most of the 1990s, demonstrating significant price escalation for

  16. The effects of the evolution of fuel prices and the environmental regulations on the producers of electric power based on fossil fuel

    International Nuclear Information System (INIS)

    Balasoiu, Constantin; Alecu, Sorin

    2006-01-01

    The production of electric power in the context of the concept of human society's lasting development is influenced in the recent years by a series of external factors, both circumstantial and derived from internal and international regulations. This work proposes a theoretical analysis of additional costs induced by the evolution of fuel prices as well as of the short, medium and long term environmental restrictions for the producers of lignite based electric power in Romania. To this purpose, the authors have considered as theoretical elements of analysis, a 330 MW functioning power station, working entirely on lignite GEL (70% expenses on fuel) with a production cost of 40 Euros/MWh at a 70% degree of usage capacity and 36 Euros/MWh at 100%. The paper addresses the following items: 1. The periods of analysis and the influential factors; 2. The evaluation of additional costs for the observance of EU Directive 2001/80/EC; 3. The evaluation of additional costs induced by the stipulations of the Kyoto Protocol; 4. The evaluation of additional costs induced by the evolution of the price of the fuel. In conclusion accumulating all the influences described in the chapters of this material, the impact in the rise of production costs for the described lignite based power plant is summarized by taking into account: the impact of CO 2 emissions; the impact Directive 2001/80/EC; the impact of the fuel price; the total rise. One can notice, that the biggest influence on the additional production costs comes from the impact of CO 2 emissions, in the outlook of the integration in the EU ETS, which depends on: 1) The way in which the National Allocation Plan for the allowances of CO 2 emissions is made in the power sector. The higher D utl.ref is, the stronger will be their place on the market. 2) The evolution of the price of CO 2 emissions on the EU ETS

  17. Price formation on the Swedish woodfuel market

    International Nuclear Information System (INIS)

    Hillring, B.

    1999-01-01

    The Swedish woodfuel market has grown rapidly in the past ten years. Government policy has strongly supported this development and environmental taxes on fossil fuels have been introduced. This has favoured untaxed biofuels, i.e. woodfuels, in the district heating sector where the market has grown very rapidly. This study on price formation is based on the earlier knowledge of the market and shows that the woodfuel market has seen a dramatic increase combined with falling prices. Unrefined wood fuels demonstrate an annual volume increase of 13% while real prices have fallen at an annual rate of 5% during the first half of the 1990s. Total taxes paid by the district heating sector have increased during the period studied and of which taxes for fossil fuels have increased dramatically during the past ten years. However, tax as a share of the total fuelmix supplying the district heating sector has been stabilised over time. The primary reason for this development is the replacement of the highly taxed fossil fuels in the supplied fuels with untaxed biofuels. Companies have reacted very quickly and rationally from an economic point of view to the rising costs of fossil fuels, substituting an increasing share with biofuels. For the future, many utilities have the capacity to adapt to new changes in costs resulting from either changes in fuel prices, changes in fuel taxes or changes in prices on heating or electricity markets. (author)

  18. Preliminary report. Preliminary findings and views concerning the exemption of kerojet fuels from the Mandatory Petroleum Allocation and Price Regulations

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-01-01

    Preliminary findings indicate the following: kerojet fuel is not in short supply; it will not adversely impact on the supply of other petroleum products subject to the Emergency Petroleum Allocation Act; competition and market forces are adequate; and it will not result in inequitable prices for kerojet or other products. Chapter II provides background information on the use, production, and distribution of kerojet. Chapter III analyzes the historical interaction of supply, demand, and price, and explores the market structure for kerojet during 1968 to 1976, prior to and during imposition of allocation and price controls. Chapter IV examines the effect upon kerojet supply, demand, price, and market structure of exempting kerojet from controls and indicates the benefits to be derived from such exemption. In Chapter V, the potential economic impacts of exemption are evaluated. Chapter VI provides a final summary of the DOE's findings and views in support of its preliminary judgment that kerojet should be exempted from allocation and price regulations. (MCW)

  19. Apples with apples: accounting for fuel price risk in comparisons of gas-fired and renewable generation

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark; Wiser, Ryan

    2003-12-18

    For better or worse, natural gas has become the fuel of choice for new power plants being built across the United States. According to the US Energy Information Administration (EIA), natural gas combined-cycle and combustion turbine power plants accounted for 96% of the total generating capacity added in the US between 1999 and 2002--138 GW out of a total of 144 GW. Looking ahead, the EIA expects that gas-fired technology will account for 61% of the 355 GW new generating capacity projected to come on-line in the US up to 2025, increasing the nationwide market share of gas-fired generation from 18% in 2002 to 22% in 2025. While the data are specific to the US, natural gas-fired generation is making similar advances in other countries as well. Regardless of the explanation for (or interpretation of) the empirical findings, however, the basic implications remain the same: one should not blindly rely on gas price forecasts when comparing fixed-price renewable with variable-price gas-fired generation contracts. If there is a cost to hedging, gas price forecasts do not capture and account for it. Alternatively, if the forecasts are at risk of being biased or out of tune with the market, then one certainly would not want to use them as the basis for resource comparisons or investment decisions if a more certain source of data (forwards) existed. Accordingly, assuming that long-term price stability is valued, the most appropriate way to compare the levelized cost of these resources in both cases would be to use forward natural gas price data--i.e. prices that can be locked in to create price certainty--as opposed to uncertain natural gas price forecasts. This article suggests that had utilities and analysts in the US done so over the sample period from November 2000 to November 2003, they would have found gas-fired generation to be at least 0.3-0.6 cents/kWh more expensive (on a levelized cost basis) than otherwise thought. With some renewable resources, in particular wind

  20. Do changing prices portend a shift in fuel consumption, diminished greenhouse gas emissions, and lower fuel tax revenue?

    Science.gov (United States)

    2015-01-01

    The growing uncertainty about oil prices and availability has made long-range transportation planning : more challenging. Rather than relying on trend extrapolation, this study uses market mechanisms to : evaluate key long-range transportation planni...

  1. A novel method for rapid comparative quantitative analysis of nuclear fuel cycles

    International Nuclear Information System (INIS)

    Eastham, Sebastian D.; Coates, David J.; Parks, Geoffrey T.

    2012-01-01

    Highlights: ► Metric framework determined to compare nuclear fuel cycles. ► Fast and thermal reactors simulated using MATLAB models, including thorium. ► Modelling uses deterministic methods instead of Monte–Carlo for speed. ► Method rapidly identifies relative cycle strengths and weaknesses. ► Significant scope for use in project planning and cycle optimisation. - Abstract: One of the greatest obstacles facing the nuclear industry is that of sustainability, both in terms of the finite reserves of uranium ore and the production of highly radiotoxic spent fuel which presents proliferation and environmental hazards. Alternative nuclear technologies have been suggested as a means of delivering enhanced sustainability with proposals including fast reactors, the use of thorium fuel and tiered fuel cycles. The debate as to which is the most appropriate technology continues, with each fuel system and reactor type delivering specific advantages and disadvantages which can be difficult to compare fairly. This paper demonstrates a framework of performance metrics which, coupled with a first-order lumped reactor model to determine nuclide population balances, can be used to quantify the aforementioned pros and cons for a range of different fuel and reactor combinations. The framework includes metrics such as fuel efficiency, spent fuel toxicity and proliferation resistance, and relative cycle performance is analysed through parallel coordinate plots, yielding a quantitative comparison of disparate cycles.

  2. A hydrogen fuel cell for rapid, enzyme-catalysed organic synthesis with continuous monitoring.

    Science.gov (United States)

    Wan, Lei; Megarity, Clare F; Siritanaratkul, Bhavin; Armstrong, Fraser A

    2018-01-23

    A one-pot fuel cell for specific, enzyme-catalysed organic synthesis, with continuous monitoring of rate and reaction progress, combines an electrode catalysing rapid, reversible and diffusion-controlled interconversion of NADP + and NADPH with a Pt electrode catalysing 2H + /H 2 interconversion. This Communication demonstrates its performance and characteristics using the reductive amination of 2-oxoglutarate as a test system.

  3. Perspectives of fuel prices in Brazil: the case of liquefied petroleum gas

    International Nuclear Information System (INIS)

    Reis, Marcos Swensson

    1993-01-01

    A summary of the price evolution of liquefied petroleum gas (LPG) between 1979 and 1983 in Brazil is presented. The pricing policy adopted by the government as a tool for fighting inflation has caused problems to the LPG industry. It is proposed the implementation of a market policy in order to solve these problems

  4. Impact of the flex-fuel vehicle on the prices formation and regulation in Brazil; Analise do impacto dos veiculos flex-fuel na formacao e regulacao de precos de combustiveis veiculares no Brasil

    Energy Technology Data Exchange (ETDEWEB)

    Buscarini, Rodolfo Jose Galvao [Universidade Estadual de Campinas (IE/UNICAMP), SP (Brazil). Inst. de Economia; Cesca, Igor Gimenes [Universidade Estadual de Campinas (DEP/FEM/UNICAMP), SP (Brazil). Fac. de Engenharia Mecanica. Dept. de Engenharia de Petroleo

    2012-07-01

    The main fuels for vehicles in Brazil are the gasoline type C - which is a mixture of gasoline, resulting from the fractional distillation of oil and anhydrous ethanol - and hydrated ethanol. For this importance, has been created an institutional framework to guide and regulate the activities of the fuel sector, initially for gasoline, hydrated ethanol was contemplated by such device in 2011. Since 2003, there has been manufactured in Brazil the flex-fuel vehicles. With this, the possibility of activation of an additional factor for the regulation of vehicle fuel prices, increasing consumer power to define which of the fuels could be used as the disposition of their prices. One of the effects of growth flex-fuel sales has been increased production and investment in ethanol (especially sugar cane) as a suitable alternative to the. The hope was that the formation of fuel prices was less dependent on their cost of production and distribution and more influenced by a pressure of consumer demand. However, the increase in the sales of the flex-fuel vehicle in Brazil in the last years was not the determining factor in the price of fuels, as it was expected. The explanation of this is on external factors to the automotive industry, linked to the structures of the production chain of oil and ethanol, especially the question of the great increase in international prices of oil and hydrated ethanol in the international market in recent years. (author)

  5. Methods of economic analysis applied to fusion research: discount rate determination and the fossil fuel price effect

    Energy Technology Data Exchange (ETDEWEB)

    1978-09-25

    In current and previous efforts, ECON has provided a preliminary economic assessment of a fusion research program. Part of this effort was the demonstration of a methodology for the estimation of reactor system costs and risk and for the treatment of program alternatives as a series of steps (tests) to buy information, thereby controlling program risk and providing a sound economic rationale for properly constructed research programs. The first phase of work also identified two areas which greatly affect the overall economic evaluation of fusion research and which warranted further study in the second phase. This led to the two tasks of the second phase reported herein: (1) discount rate determination and (2) evaluation of the effect of the expectation of the introduction of fusion power on current fossil fuel prices. In the first task, various conceptual measures of the social rate of discount were reviewed and critiqued. In the second task, a benefit area that had been called out by ECON was further examined. Long-range R and D yields short-term benefits in the form of lower nonrenewable energy resource prices because the R and D provides an expectation of future competition for the remaining reserves at the time of technology availability. ECON developed a model of optimal OPEC petroleum pricing as a function of the expectation of future competing technologies. It was shown that the existence of this expectation lowers the optimal OPEC export price and that accelerated technology R and D programs should provide further price decreases. These price reductions translate into benefits to the U.S. of at least a billion dollars.

  6. Trends in prices to commercial energy consumers in the competitive Texas electricity market

    International Nuclear Information System (INIS)

    Zarnikau, Jay; Fox, Marilyn; Smolen, Paul

    2007-01-01

    To date, the price of electricity to commercial or business energy consumers has generally increased at greater rates in the areas of Texas where retail competition has been introduced than in areas that do not enjoy competition. Trends in commercial competitive prices have largely mirrored trends in residential prices. Market restructuring has tended to increase the sensitivity of retail electricity prices to changes in the price of natural gas, the marginal fuel used for generation in Texas. Consequently, the rapid increases in the commodity price of natural gas following restructuring led to increases in competitive electric rates which exceeded the increases in areas not exposed to restructuring, where the fuel component of electric rates tend to reflect a weighted average of the utilities' fuel costs. There is some evidence that pricing behavior by competitive retailers changed when the retailers affiliated with the incumbent utilities were permitted some pricing flexibility, resulting in a reduction in prices. (author)

  7. A rapid colorimetric method for predicting the storage stability of middle distillate fuels

    Energy Technology Data Exchange (ETDEWEB)

    Marshman, S.J. [Defense Research Agency, Surrey (United Kingdom)

    1995-05-01

    Present methods used to predict the storage stability of distillate fuels such as ASTM D2274, ASTM D4625, DEF STAN 05-50 Method 40 and in-house methods are very time consuming, taking a minimum of 16 hours. In addition, some of these methods under- or over-predict the storage stability of the test fuel. A rapid colorimetric test for identifying cracked, straight run or hydrofined fuels was reported at the previous Conference. Further work has shown that while a visual appraisal is acceptable for refinery-fresh fuels, colour development may be masked by other coloured compounds in older fuels. Use of a spectrometric finish to the method has extended the scope of the method to include older fuels. The test can be correlated with total sediment from ASTM D4625 (13 weeks at 43{degrees}C) over a sediment range of 0-60mg/L. A correlation of 0.94 was obtained for 40 fuels.

  8. Economic impact of rapid diagnostic methods in Clinical Microbiology: Price of the test or overall clinical impact.

    Science.gov (United States)

    Cantón, Rafael; Gómez G de la Pedrosa, Elia

    2017-12-01

    The need to reduce the time it takes to establish a microbiological diagnosis and the emergence of new molecular microbiology and proteomic technologies has fuelled the development of rapid and point-of-care techniques, as well as the so-called point-of-care laboratories. These laboratories are responsible for conducting both techniques partially to response to the outsourcing of the conventional hospital laboratories. Their introduction has not always been accompanied with economic studies that address their cost-effectiveness, cost-benefit and cost-utility, but rather tend to be limited to the unit price of the test. The latter, influenced by the purchase procedure, does not usually have a regulated reference value in the same way that medicines do. The cost-effectiveness studies that have recently been conducted on mass spectrometry in the diagnosis of bacteraemia and the use of antimicrobials have had the greatest clinical impact and may act as a model for future economic studies on rapid and point-of-care tests. Copyright © 2017 Elsevier España, S.L.U. and Sociedad Española de Enfermedades Infecciosas y Microbiología Clínica. All rights reserved.

  9. An EKC-pattern in historical perspective. Carbon dioxide emissions, technology, fuel prices and growth in Sweden 1870-1997

    International Nuclear Information System (INIS)

    Lindmark, Magnus

    2002-01-01

    The environmental Kuznets curve (EKC) has been subject to research and debate since the early 1990s. This article examines the inverted-U trajectory of Swedish CO 2 emissions during an extended time period beginning in 1870. The basis for the investigation is a structural time series approach that utilizes a stochastic trend as an indicator of technological and structural change, and GDP growth and changes in the price of fuel and cement price as independent variables. Finally, the development of technological and structural change with respect to CO 2 emissions is interpreted within the context of growth regimes. The result suggests that the period 1920-1960, with high, sustained growth rates was associated with less technological and structural changes relating to CO 2 emissions than periods with lower growth rates, such as the late 1800s and the post-1970 period. Furthermore, it is suggested that time-specific technological clusters may affect EKC patterns

  10. Impact of thermodynamic properties and heat loss on ignition of transportation fuels in rapid compression machines

    KAUST Repository

    Ahmed, Ahfaz

    2018-01-30

    Rapid compression machines (RCM) are extensively used to study autoignition of a wide variety of fuels at engine relevant conditions. Fuels ranging from pure species to full boiling range gasoline and diesel can be studied in an RCM to develop a better understanding of autoignition kinetics in low to intermediate temperature ranges. In an RCM, autoignition is achieved by compressing a fuel/oxidizer mixture to higher pressure and temperature, thereby initiating chemical reactions promoting ignition. During these experiments, the pressure is continuously monitored and is used to deduce significant events such as the end of compression and the onset of ignition. The pressure profile is also used to assess the temperature evolution of the gas mixture with time using the adiabatic core hypothesis and the heat capacity ratio of the gas mixture. In such RCM studies, real transportation fuels containing many components are often represented by simpler surrogate fuels. While simpler surrogates such as primary reference fuels (PRFs) and ternary primary reference fuel (TPRFs) can match research and motor octane number of transportation fuels, they may not accurately replicate thermodynamic properties (including heat capacity ratio). This non-conformity could exhibit significant discrepancies in the end of compression temperature, thereby affecting ignition delay (τign) measurements. Another aspect of RCMs that can affect τign measurement is post compression heat loss, which depends on various RCM parameters including geometry, extent of insulation, pre-heating temperature etc. To, better understand the effects of these non-chemical kinetic parameters on τign, thermodynamic properties of a number of FACE G gasoline surrogates were calculated and simulated in a multi-zone RCM model. The problem was further investigated using a variance based analysis and individual sensitivities were calculated. This study highlights the effects on τign due to thermodynamic properties of

  11. Impact of thermodynamic properties and heat loss on ignition of transportation fuels in rapid compression machines

    KAUST Repository

    Ahmed, Ahfaz; Hantouche, Mireille; Khurshid, Muneeb; Mohamed, Samah; Nasir, Ehson Fawad; Farooq, Aamir; Roberts, William L.; Knio, Omar; Sarathy, Mani

    2018-01-01

    Rapid compression machines (RCM) are extensively used to study autoignition of a wide variety of fuels at engine relevant conditions. Fuels ranging from pure species to full boiling range gasoline and diesel can be studied in an RCM to develop a better understanding of autoignition kinetics in low to intermediate temperature ranges. In an RCM, autoignition is achieved by compressing a fuel/oxidizer mixture to higher pressure and temperature, thereby initiating chemical reactions promoting ignition. During these experiments, the pressure is continuously monitored and is used to deduce significant events such as the end of compression and the onset of ignition. The pressure profile is also used to assess the temperature evolution of the gas mixture with time using the adiabatic core hypothesis and the heat capacity ratio of the gas mixture. In such RCM studies, real transportation fuels containing many components are often represented by simpler surrogate fuels. While simpler surrogates such as primary reference fuels (PRFs) and ternary primary reference fuel (TPRFs) can match research and motor octane number of transportation fuels, they may not accurately replicate thermodynamic properties (including heat capacity ratio). This non-conformity could exhibit significant discrepancies in the end of compression temperature, thereby affecting ignition delay (τign) measurements. Another aspect of RCMs that can affect τign measurement is post compression heat loss, which depends on various RCM parameters including geometry, extent of insulation, pre-heating temperature etc. To, better understand the effects of these non-chemical kinetic parameters on τign, thermodynamic properties of a number of FACE G gasoline surrogates were calculated and simulated in a multi-zone RCM model. The problem was further investigated using a variance based analysis and individual sensitivities were calculated. This study highlights the effects on τign due to thermodynamic properties of

  12. Rapid Evaluation of Power Degradation in Series Connection of Single Feeding Microsized Microbial Fuel Cells

    KAUST Repository

    Rojas, Jhonathan Prieto; Alqarni, Wejdan Mohammed Mofleh; Hussain, Muhammad Mustafa

    2014-01-01

    We have developed a sustainable, single feeding, microsized, air-cathode and membrane-free microbial fuel cells with a volume of 40 mu L each, which we have used for rapid evaluation of power generation and viability of a series array of three cells seeking higher voltage levels. Contrary to expectations, the achieved power density was modest (45 mWm(-3)), limited due to non-uniformities in assembly and the single-channel feeding system.

  13. Rapid Evaluation of Power Degradation in Series Connection of Single Feeding Microsized Microbial Fuel Cells

    KAUST Repository

    Rojas, Jhonathan Prieto

    2014-07-08

    We have developed a sustainable, single feeding, microsized, air-cathode and membrane-free microbial fuel cells with a volume of 40 mu L each, which we have used for rapid evaluation of power generation and viability of a series array of three cells seeking higher voltage levels. Contrary to expectations, the achieved power density was modest (45 mWm(-3)), limited due to non-uniformities in assembly and the single-channel feeding system.

  14. Fuel prices, emission standards, and generation costs for coal vs natural gas power plants.

    Science.gov (United States)

    Pratson, Lincoln F; Haerer, Drew; Patiño-Echeverri, Dalia

    2013-05-07

    Low natural gas prices and stricter, federal emission regulations are promoting a shift away from coal power plants and toward natural gas plants as the lowest-cost means of generating electricity in the United States. By estimating the cost of electricity generation (COE) for 304 coal and 358 natural gas plants, we show that the economic viability of 9% of current coal capacity is challenged by low natural gas prices, while another 56% would be challenged by the stricter emission regulations. Under the current regulations, coal plants would again become the dominant least-cost generation option should the ratio of average natural gas to coal prices (NG2CP) rise to 1.8 (it was 1.42 in February 2012). If the more stringent emission standards are enforced, however, natural gas plants would remain cost competitive with a majority of coal plants for NG2CPs up to 4.3.

  15. Modeling of geographical pricing: A game analysis of siberian fuel costs

    Science.gov (United States)

    Sivushina, Anastasiya; Kombu, Anchy; Ryumkin, Valeriy

    2017-11-01

    In the present study, we propose a novel game-theoretic pricing model describing the interaction between producers and retailers of goods in conditions of poor transport infrastructure and sparse geographical distribution of the points of sale. The proposed model generalizes the Stackelberg leadership model for an arbitrary number of leaders and followers. We show that the model always has a Nash and Stackelberg equilibria. We also provide formulas for the equilibrium prices and volume of sales. As an example we model diesel pricing in south Siberia. Our model found no signs of a cartel. The results of this paper can be used by policymakers to inform market regulations aimed at promoting free competition and avoiding monopolies in production and retail of goods.

  16. Integration of CCS, emissions trading and volatilities of fuel prices into sustainable energy planning, and its robust optimization

    International Nuclear Information System (INIS)

    Koo, Jamin; Han, Kyusang; Yoon, En Sup

    2011-01-01

    In this paper, a new approach has been proposed that allows a robust optimization of sustainable energy planning over a period of years. It is based on the modified energy flow optimization model (EFOM) and minimizes total costs in planning capacities of power plants and CCS to be added, stripped or retrofitted. In the process, it reduces risks due to a high volatility in fuel prices; it also provides robustness against infeasibility with respect to meeting the required emission level by adopting a penalty constant that corresponds to the price level of emission allowances. In this manner, the proposed methodology enables decision makers to determine the optimal capacities of power plants and/or CCS, as well as volumes of emissions trading in the future that will meet the required emission level and satisfy energy demand from various user-sections with minimum costs and maximum robustness. They can also gain valuable insights on the effects that the price of emission allowances has on the competitiveness of RES and CCS technologies; it may be used in, for example, setting appropriate subsidies and tax policies for promoting greater use of these technologies. The proposed methodology is applied to a case based on directions and volumes of energy flows in South Korea during the year 2008. (author)

  17. Natural gas pricing policies in Southeast Asia

    International Nuclear Information System (INIS)

    Pacudan, R.B.

    1998-01-01

    The very dynamic economies of Southeast Asia have recently been experiencing a rapid increase in energy demand. Parallel to this development, there has been an increase in the utilization of indigenous natural gas resources. This article reviews gas-pricing policies in the region, which partly explain the rise in gas utilization. Although diverse, energy pricing policies in Southeast Asia address the common objective of enhancing domestic gas production and utilization. The article concludes that a more rational gas-pricing policy framework is emerging in the region. In global terms, gas pricing in the region tends to converge in a market-related framework, despite the many different pricing objectives of individual countries, and the predominance of non-economic pricing objectives in certain countries (especially gas-rich nations). Specifically, governments have been flexible enough to follow global trends and initiate changes in contractual agreements (pricing and profit-sharing), giving oil companies more favourable terms, and encouraging continued private investment in gas development. At the same time, promotional pricing has also been used to increase utilization of gas, through set prices and adjusted taxes achieving a lower price level compared to substitute fuels. For an efficient gas-pricing mechanism, refinements in the pricing framework should be undertaken, as demand for gas approaches existing and/or forecast production capacities. (author)

  18. Predicting short term (1 week to 6 months) fuel prices using EIA data

    International Nuclear Information System (INIS)

    Felts, M.C.

    1992-01-01

    Events in the oil market from August 1990 to February 1991 provide an excellent case study for understanding the relationship of oil inventories, product inventories, refinery utilization rates and the prices of crude oil and products. This paper presents a basic overview of how the system works and demonstrates how anyone can predict what will happen next using EIA weekly data. The system of analysis require only that one think logically about the factors involved. The system never fails because it is based on certain conditions which do not change, such as the limited capacity of refineries, storage and transportation facilities. As one becomes familiar with the general theory behind this type of analysis, it is possible to accurately predict the behavior of gasoline and diesel prices in separate areas of the US. Because the US is the primary user of crude oil, conditions in the US refining market also significantly influence the price of crude oil. These price fluctuations can also be anticipated by watching the EIA data

  19. Fruit bats (Pteropodidae) fuel their metabolism rapidly and directly with exogenous sugars.

    Science.gov (United States)

    Amitai, O; Holtze, S; Barkan, S; Amichai, E; Korine, C; Pinshow, B; Voigt, C C

    2010-08-01

    Previous studies reported that fed bats and birds mostly use recently acquired exogenous nutrients as fuel for flight, rather than endogenous fuels, such as lipids or glycogen. However, this pattern of fuel use may be a simple size-related phenomenon because, to date, only small birds and bats have been studied with respect to the origin of metabolized fuel, and because small animals carry relatively small energy reserves, considering their high mass-specific metabolic rate. We hypothesized that approximately 150 g Egyptian fruit bats (Rousettus aegyptiacus Pteropodidae), which are more than an order of magnitude heavier than previously studied bats, also catabolize dietary sugars directly and exclusively to fuel both rest and flight metabolism. We based our expectation on the observation that these animals rapidly transport ingested dietary sugars, which are absorbed via passive paracellular pathways in the intestine, to organs of high energy demand. We used the stable carbon isotope ratio in exhaled CO(2) (delta(13)C(breath)) to assess the origin of metabolized substrates in 16 Egyptian fruit bats that were maintained on a diet of C3 plants before experiments. First, we predicted that in resting bats delta(13)C(breath) remains constant when bats ingest C3 sucrose, but increases and converges on the dietary isotopic signature when C4 sucrose and C4 glucose are ingested. Second, if flying fruit bats use exogenous nutrients exclusively to fuel flight, we predicted that delta(13)C(breath) of flying bats would converge on the isotopic signature of the C4 sucrose they were fed. Both resting and flying Egyptian fruit bats, indeed, directly fuelled their metabolism with freshly ingested exogenous substrates. The rate at which the fruit bats oxidized dietary sugars was as fast as in 10 g nectar-feeding bats and 5 g hummingbirds. Our results support the notion that flying bats, irrespective of their size, catabolize dietary sugars directly, and possibly exclusively, to

  20. Thermometric Titration for Rapid Determination of Trace Water in Jet Fuel

    Directory of Open Access Journals (Sweden)

    Jian-Qiang Hu

    2017-01-01

    Full Text Available Water content in jet fuels is detected by thermometric titration (TMT, and the optimal detected system is 2,2-dimethoxypropane as titrant, cyclohexane and isopropanol as titration solvents, and methanesulfonic acid as catalyst in this method. The amounts of oil, concentration and delivery rate of titrant, volumes, and the reliability and accuracy of thermometric titration were emphasized. The results show that the accuracy, validity, and reliability of TMT are excellent by different indicated spiked water contents. The obtained results between TMT and Karl Fischer titration have been proven to be in accord. But, the duration of titration merely spends 3–5 min in the whole process, greatly shortening the detected time. Therefore, rapid and accurate determination of trace water in a jet fuel can be realized by TMT.

  1. An EKC-pattern in historical perspective. Carbon dioxide emissions, technology, fuel prices and growth in Sweden 1870-1997

    Energy Technology Data Exchange (ETDEWEB)

    Lindmark, Magnus [Department of Economic History, Umea University, SE-901 87 Umea (Sweden)

    2002-08-01

    The environmental Kuznets curve (EKC) has been subject to research and debate since the early 1990s. This article examines the inverted-U trajectory of Swedish CO{sub 2} emissions during an extended time period beginning in 1870. The basis for the investigation is a structural time series approach that utilizes a stochastic trend as an indicator of technological and structural change, and GDP growth and changes in the price of fuel and cement price as independent variables. Finally, the development of technological and structural change with respect to CO{sub 2} emissions is interpreted within the context of growth regimes. The result suggests that the period 1920-1960, with high, sustained growth rates was associated with less technological and structural changes relating to CO{sub 2} emissions than periods with lower growth rates, such as the late 1800s and the post-1970 period. Furthermore, it is suggested that time-specific technological clusters may affect EKC patterns.

  2. Rapid hydrogen charging on metal hydride negative electrode of Fuel Cell/Battery (FCB) systems

    Energy Technology Data Exchange (ETDEWEB)

    Choi, Bokkyu; Lee, Sunmook; Kawai, Hiroyuki; Fushimi, Chihiro; Tsutsumi, Atsushi [Collaborative Research Center for Energy Engineering, Institute of Industrial Science, The University of Tokyo, 4-6-1 Komaba, Meguro-ku, Tokyo 153-8505 (Japan)

    2009-02-15

    The characteristics of rapid gaseous H{sub 2} charging/electrochemical discharging of the metal hydride negative electrode were investigated for the application in Fuel Cell/Battery (FCB) systems. They were evaluated with the H{sub 2} gas absorption, followed by the subsequent electrochemical discharging in the electrolyte solution (6M KOH). Then, the cyclability of charge-discharge was also examined. It was observed that more than 70% of the theoretical capacity was charged within 10 min with 0.3 MPa and 0.5 MPa of the initial H{sub 2} pressures. The electrochemical discharge curve showed that more than 86% of the absorbed H{sub 2} was discharged. Furthermore, the cycled charge-discharge process indicated that the H{sub 2} gas charge and electrochemical discharge process is an effective way to rapidly charge and activate the metal hydride without degeneration. (author)

  3. Development of high performance liquid chromatography for rapid determination of burn-up of nuclear fuels

    International Nuclear Information System (INIS)

    Joseph, M.; Karunasagar, D.; Saha, B.

    1996-01-01

    Burn-up an important parameter during evaluation of the performance of any nuclear fuel. Among the various techniques available, the preferred one for its determination is based on accurate measurement of a suitable fission product monitor and the residual heavy elements. Since isotopes of rare earth elements are generally used as burn-up monitors, conditions were standardized for rapid separation (within 15 minutes) of light rare earths using high performance liquid chromatography based on either anion exchange (Partisil 10 SAX) in methanol-nitric acid medium or by cation exchange on a reverse phase column (Spherisorb 5-ODS-2 or Supelcosil LC-18) dynamically modified with 1-octane sulfonate or camphor-10-sulfonic acid (β). Both these methods were assessed for separation of individual fission product rare earths from their mixtures. A new approach has been examined in detail for rapid assay of neodymium, which appears promising for faster and accurate measurement of burn-up. (author)

  4. What would be the effects of a carbon tax in Japan: an historic analysis of subsidies and fuel pricing on the iron & steel, chemical, and machinery industries

    Directory of Open Access Journals (Sweden)

    Takako Wakiyama

    2016-06-01

    Full Text Available This study examines how a carbon tax could affect industrial-related carbon dioxide (CO2 emissions in Japan. Rather than forecasting the effects of a tax, the paper employs a time-series autoregressive moving average (ARMA model to determine how past subsidies and fuel price changes affected investments in energy and carbon intensity in Japan’s iron & steel, chemical, and machinery industries from 1993 to 2004. The results suggest the impacts varied greatly across industries. In the iron & steel industry, subsidies and price changes produced negligible effects on investments in energy and carbon intensity. This may be because existing iron & steel technologies have long lifetimes and substantial replacement costs. It may also be because the few large companies dominating the industry were relatively immune to subsidy provisions and pricing changes. In the chemical industry, subsidies and fuel prices gave rise to investments that improved carbon and energy intensity. This may be because the industry has relatively higher operation costs that could be cut easily given financial incentives. In the machinery industry, two of three fuel price changes (oil and gas, but not subsidy provisions, yielded improvements in carbon and energy intensity. This may reflect the heterogeneity of companies and products comprising the industry. Overall, the study underscores that policymakers need to tailor the rates and revenue recycling provisions of a carbon tax to an industry’s unique features to stimulate CO2 reductions.

  5. Gas prices and price process

    International Nuclear Information System (INIS)

    Groenewegen, G.G.

    1992-01-01

    On a conference (Gas for Europe in the 1990's) during the Gasexpo '91 the author held a speech of which the Dutch text is presented here. Attention is paid to the current European pricing methods (prices based on the costs of buying, transporting and distributing the natural gas and prices based on the market value, which is deducted from the prices of alternative fuels), and the transparency of the prices (lack of information on the way the prices are determined). Also attention is paid to the market signal transparency and gas-gas competition, which means a more or less free market of gas distribution. The risks of gas-to-gas competition for a long term price stability, investment policies and security of supply are discussed. Opposition against the Third Party Access (TPA), which is the program to implement gas-to-gas competition, is caused by the fear of natural gas companies for lower gas prices and lower profits. Finally attention is paid to government regulation and the activities of the European Commission (EC) in this matter. 1 fig., 6 ills., 1 tab

  6. [Evolution of salaries and the price of food and domestic fuels in the city of La Paz (1975-1985)].

    Science.gov (United States)

    Laure, J

    1987-03-01

    An analysis was performed on the variations of the food purchasing power of the average industry wage during the period comprised between 1975 and 1984 (increase of 7%), and of the minimum wage between November 1982 and August 1985 (decline of 73%). Development of retail prices in La Paz, for the main food groups, beverages and fuels, was analyzed over the same periods. Variations in work time, paid at average industry wage or at minimum wage, needed to acquire such foodstuffs, beverages or fuels, were also carefully studied. Similarly, development of the cost of calories and proteins was examined. Trends in accessibility of calories and proteins are described. Between 1975 and 1984 these included: a progressive decline in the number of foods that are sources of "cheap" or "very cheap" calories; the same trend was observed with regard to foods which are sources of "cheap" or "very cheap" proteins: A decline in their number and even the disappearance of any source of "very cheap" proteins, and an ever-increasing dependence on agro-industry and foreign imports (notably wheat). Finally, some proposals are made for the purpose of contributing to the establishment of food and nutrition planning. In particular, suggestion is made to automatically reevaluate the minimum wage on the basis of monetary inflation, in order to maintain at least the food purchasing power of the minimum wage. Maintaining this purchasing power greatly determines the nutritional status of the wage-earning population which purchases the most essential foodstuffs.

  7. HPLC method for rapidly following biodiesel fuel transesterification reaction progress using a core-shell column.

    Science.gov (United States)

    Allen, Samuel J; Ott, Lisa S

    2012-07-01

    There are a wide and growing variety of feedstocks for biodiesel fuel. Most commonly, these feedstocks contain triglycerides which are transesterified into the fatty acid alkyl esters (FAAEs) which comprise biodiesel fuel. While the tranesterification reaction itself is simple, monitoring the reaction progress and reaction products is not. Gas chromatography-mass spectrometry is useful for assessing the FAAE products, but does not directly address either the tri-, di-, or monoglycerides present from incomplete transesterification or the free fatty acids which may also be present. Analysis of the biodiesel reaction mixture is complicated by the solubility and physical property differences among the components of the tranesterification reaction mixture. In this contribution, we present a simple, rapid HPLC method which allows for monitoring all of the main components in a biodiesel fuel transesterification reaction, with specific emphasis on the ability to monitor the reaction as a function of time. The utilization of a relatively new, core-shell stationary phase for the HPLC column allows for efficient separation of peaks with short elution times, saving both time and solvent.

  8. PRICE AND PRICING STRATEGIES

    OpenAIRE

    SUCIU Titus

    2013-01-01

    In individual companies, price is one significant factor in achieving marketing success. In many purchase situations, price can be of great importance to customers. Marketers must establish pricing strategies that are compatible with the rest of the marketing mix. Management should decide whether to charge the same price to all similar buyers of identical quantities of a product (a one-price strategy) or to set different prices (a flexible price strategy). Many organizations, especially retai...

  9. Prices and Price Setting

    NARCIS (Netherlands)

    R.P. Faber (Riemer)

    2010-01-01

    textabstractThis thesis studies price data and tries to unravel the underlying economic processes of why firms have chosen these prices. It focuses on three aspects of price setting. First, it studies whether the existence of a suggested price has a coordinating effect on the prices of firms.

  10. Steel: Price and Policy Issues

    National Research Council Canada - National Science Library

    Cooney, Stephen

    2006-01-01

    Steel prices remain at historically elevated levels. The rapid growth of steel production and demand in China is widely considered as a major cause of the increases in both steel prices and the prices of steelmaking inputs...

  11. Thermally induced dispersion mechanisms for aluminum-based plate-type fuels under rapid transient energy deposition

    International Nuclear Information System (INIS)

    Georgevich, V.; Taleyarkham, R.P.; Navarro-Valenti, S.; Kim, S.H.

    1995-01-01

    A thermally induced dispersion model was developed to analyze for dispersive potential and determine onset of fuel plate dispersion for Al-based research and test reactor fuels. Effect of rapid energy deposition in a fuel plate was simulated. Several data types for Al-based fuels tested in the Nuclear Safety Research Reactor in Japan and in the Transient Reactor Test in Idaho were reviewed. Analyses of experiments show that onset of fuel dispersion is linked to a sharp rise in predicted strain rate, which futher coincides with onset of Al vaporization. Analysis also shows that Al oxidation and exothermal chemical reaction between the fuel and Al can significantly affect the energy deposition characteristics, and therefore dispersion onset connected with Al vaporization, and affect onset of vaporization

  12. Fuel supply demand balances for future FBR commercialization: impacts on plutonium pricing and reactor design

    International Nuclear Information System (INIS)

    Braun, C.; Zebroski, E.L.

    1985-01-01

    Plutonium supply and demand balances for fast breeder reactor (FBR) commercialization post-2000 were computed to determine: (a) the maximum supportable number of FBRs that could be installed based on plutonium availability considerations and (b) the feasibility of a reasonable FBR capacity growth case assuming slow introduction post-2010 and rapid capacity growth post-2035. The purpose of the analysis was to determine the outer limitation on the maximum future FBR introduction, or the bounds of a possible plutonium-limited introduction rate, and to estimate the reasonableness of a more limited capacity growth case

  13. Electricity pricing

    International Nuclear Information System (INIS)

    Wijayatunga, P.D.C.

    1994-01-01

    Electricity pricing in most countries, especially in the developing world, has been determined by traditional accounting criteria where it raises revenue requirements to cover the operating costs and a return on past and future capital investments in possible power systems. The use of economic principles to improve the total economic efficiency in the electricity industry is discussed. Basic marginal cost theory, long run marginal costing (LRMC) cost categories and rating periods, marginal capacity costs, marginal energy costs, consumer costs, short run marginal costing (SRMC), marginal cost of fuel, marginal cost of network losses, market clearing price, value of unserved energy and network quality of supply cost are discussed

  14. Ancient low-molecular-weight organic acids in permafrost fuel rapid carbon dioxide production upon thaw.

    Science.gov (United States)

    Drake, Travis W; Wickland, Kimberly P; Spencer, Robert G M; McKnight, Diane M; Striegl, Robert G

    2015-11-10

    Northern permafrost soils store a vast reservoir of carbon, nearly twice that of the present atmosphere. Current and projected climate warming threatens widespread thaw of these frozen, organic carbon (OC)-rich soils. Upon thaw, mobilized permafrost OC in dissolved and particulate forms can enter streams and rivers, which are important processors of OC and conduits for carbon dioxide (CO2) to the atmosphere. Here, we demonstrate that ancient dissolved organic carbon (DOC) leached from 35,800 y B.P. permafrost soils is rapidly mineralized to CO2. During 200-h experiments in a novel high-temporal-resolution bioreactor, DOC concentration decreased by an average of 53%, fueling a more than sevenfold increase in dissolved inorganic carbon (DIC) concentration. Eighty-seven percent of the DOC loss to microbial uptake was derived from the low-molecular-weight (LMW) organic acids acetate and butyrate. To our knowledge, our study is the first to directly quantify high CO2 production rates from permafrost-derived LMW DOC mineralization. The observed DOC loss rates are among the highest reported for permafrost carbon and demonstrate the potential importance of LMW DOC in driving the rapid metabolism of Pleistocene-age permafrost carbon upon thaw and the outgassing of CO2 to the atmosphere by soils and nearby inland waters.

  15. Ancient low–molecular-weight organic acids in permafrost fuel rapid carbon dioxide production upon thaw

    Science.gov (United States)

    Drake, Travis W.; Wickland, Kimberly P.; Spencer, Robert G. M.; McKnight, Diane M.; Striegl, Robert G.

    2015-01-01

    Northern permafrost soils store a vast reservoir of carbon, nearly twice that of the present atmosphere. Current and projected climate warming threatens widespread thaw of these frozen, organic carbon (OC)-rich soils. Upon thaw, mobilized permafrost OC in dissolved and particulate forms can enter streams and rivers, which are important processors of OC and conduits for carbon dioxide (CO2) to the atmosphere. Here, we demonstrate that ancient dissolved organic carbon (DOC) leached from 35,800 y B.P. permafrost soils is rapidly mineralized to CO2. During 200-h experiments in a novel high–temporal-resolution bioreactor, DOC concentration decreased by an average of 53%, fueling a more than sevenfold increase in dissolved inorganic carbon (DIC) concentration. Eighty-seven percent of the DOC loss to microbial uptake was derived from the low–molecular-weight (LMW) organic acids acetate and butyrate. To our knowledge, our study is the first to directly quantify high CO2 production rates from permafrost-derived LMW DOC mineralization. The observed DOC loss rates are among the highest reported for permafrost carbon and demonstrate the potential importance of LMW DOC in driving the rapid metabolism of Pleistocene-age permafrost carbon upon thaw and the outgassing of CO2 to the atmosphere by soils and nearby inland waters.

  16. Distributions of carbon pricing on extraction, combustion and consumption of fossil fuels in the global supply-chain

    Science.gov (United States)

    Karstensen, Jonas; Peters, Glen

    2018-01-01

    Pricing carbon is one of the most important tools to reduce emissions and mitigate climate change. Already, about 40 nations have implemented explicit or implicit carbon prices, and a carbon price was explicitly stated as a mitigation strategy by many nations in their emission pledges submitted to the Paris Agreement. The coverage of carbon prices varies significantly between nations though, often only covering a subset of sectors in the economy. We investigate the propagation of carbon prices along the global supply-chain when the carbon price is applied at the point where carbon is removed from the ground (extraction), is combusted (production), or where goods and services are consumed (consumption). We consider both the regional and sectoral effects, and compare the carbon price income and costs relative to economic output. We find that implementation using different accounting systems makes a significant difference to revenues and increased expenditure, and that domestic and global trade plays a significant role in spreading the carbon price between sectors and countries. A few single sectors experience the largest relative price increases (especially electricity and transport), but most of the carbon price is ultimately paid by households for goods and services due to the large expenditure and indirect supply chain impacts. We finally show that a global carbon price will generate a larger share of revenue relative to GDP in non-OECD nations than OECD nations, independent on the point of implementation.

  17. Rapid fabrication of microfluidic polymer electrolyte membrane fuel cell in PDMS by surface patterning of perfluorinated ion-exchange resin

    Energy Technology Data Exchange (ETDEWEB)

    Song, Yong-Ak; Han, Jongyoon [Department of Electrical Engineering and Computer Science, Massachusetts Institute of Technology, 77 Massachusetts Ave., Cambridge, MA 02139 (United States); Department of Biological Engineering, Massachusetts Institute of Technology, 77 Massachusetts Ave., Cambridge, MA 02139 (United States); Batista, Candy [Roxbury Community College, 1234 Columbus Ave., Roxbury Crossing, MA 02120 (United States); Sarpeshkar, Rahul [Department of Electrical Engineering and Computer Science, Massachusetts Institute of Technology, 77 Massachusetts Ave., Cambridge, MA 02139 (United States)

    2008-09-01

    In this paper we demonstrate a simple and rapid fabrication method for a microfluidic polymer electrolyte membrane (PEM) fuel cell using polydimethylsiloxane (PDMS), which has become the de facto standard material in BioMEMS. Instead of integrating a Nafion sheet film between two layers of a PDMS device in a traditional ''sandwich format,'' we pattern a perfluorinated ion-exchange resin such as a Nafion resin on a glass substrate using a reversibly bonded PDMS microchannel to generate an ion-selective membrane between the fuel-cell electrodes. After this patterning step, the assembly of the microfluidic fuel cell is accomplished by simple oxygen plasma bonding between the PDMS chip and the glass substrate. In an example implementation, the planar PEM microfluidic fuel cell generates an open circuit voltage of 600-800 mV and delivers a maximum current output of nearly 4 {mu}A. To enhance the power output of the fuel cell we utilize self-assembled colloidal arrays as a support matrix for the Nafion resin. Such arrays allow us to increase the thickness of the ion-selective membrane to 20 {mu}m and increase the current output by 166%. Our novel fabrication method enables rapid prototyping of microfluidic fuel cells to study various ion-exchange resins for the polymer electrolyte membrane. Our work will facilitate the development of miniature, implantable, on-chip power sources for biomedical applications. (author)

  18. Autoradiographic technique for rapid inventory of plutonium-containing fast critical assembly fuel

    International Nuclear Information System (INIS)

    Brumbach, S.B.; Perry, R.B.

    1977-10-01

    A nondestructive autoradiographic technique is described which can provide a verification of the piece count and the plutonium content of plutonium-containing fuel elements. This technique uses the spontaneously emitted gamma rays from plutonium to form images of fuel elements on photographic film. Autoradiography has the advantage of providing an inventory verification without the opening of containers or the handling of fuel elements. Missing fuel elements, substitution of nonradioactive material, and substitution of elements of different size are detectable. Results are presented for fuel elements in various storage configurations and for fuel elements contained in a fast critical assembly

  19. A rapid selection strategy for an anodophilic consortium for microbial fuel cells

    KAUST Repository

    Wang, Aijie

    2010-07-01

    A rapid selection method was developed to enrich for a stable and efficient anodophilic consortium (AC) for microbial fuel cells (MFCs). A biofilm sample from a microbial electrolysis cell was serially diluted up to 10-9 in anaerobic phosphate buffer solution and incubated in an Fe(III)-acetate medium, and an Fe(III)-reducing AC was obtained for dilutions up to 10-6. The activity of MFC inoculated with the enrichment AC was compared with those inoculated with original biofilm or activated sludge. The power densities and Coulombic efficiencies of the AC (226 mW/m2, 34%) were higher than those of the original biofilm (209 mW/m2, 23%) and activated sludge (192 mW/m2, 19%). The start-up period of the AC (60 h) was also shorter than those obtained with the other inocula (biofilm, 95 h; activated sludge, 300 h). This indicated that such a strategy is highly efficient for obtaining an anodophilic consortium for improving the performance of an MFC. © 2010 Elsevier Ltd.

  20. Proposed pyrometallurgical process for rapid recycle of discharged fuel materials from the integral fast reactor

    International Nuclear Information System (INIS)

    Burris, L.; Steindler, M.; Miller, W.

    1984-01-01

    The pool-type Integral Fast Reactor (IFR) concept developed by Argonne National Laboratory includes on-site recycle of discharged core and blanket fuel materials. The process and fabrication steps will be demonstrated in the EBR-II Fuel Cycle Facility with IFR fuel irradiated in EBR-II and the Fast Flux Test Facility. The proposed process consists of two major steps: a halide slagging step and an electrorefining step. The fuel is maintained in the metallic form to yield directly a metal product sufficiently decontaminated to allow recycle to the reactor as new fuel. The process is further described and available information to support its feasibility is presented

  1. A proposed pyrometallurgical process for rapid recycle of discharged fuel materials from the Integral Fast Reactor

    International Nuclear Information System (INIS)

    Burris, L.; Steindler, M.; Miller, W.

    1984-01-01

    The Integral Fast Reactor (IFR) concept developed by Argonne National Laboratory includes on-site recycle of discharged core and blanket fuel materials. The process and fabrication steps will be demonstrated in the EBR-II Fuel Cycle Facility with IFR fuel irradiated in EBR-II and the Fast Flux Test Facility. The proposed process consists of two major steps -- a halide slagging step and an electrorefining step. The fuel is maintained in the metallic form to yield directly a metal product sufficiently decontaminated to allow recycle to the reactor as new fuel. The process is further described and available information to support its feasibility is presented

  2. Preliminary enquiry into the availability, price and quality of malaria rapid diagnostic tests in the private health sector of six malaria-endemic countries.

    Science.gov (United States)

    Albertini, A; Djalle, D; Faye, B; Gamboa, D; Luchavez, J; Mationg, M L; Mwangoka, G; Oyibo, W; Bennett, J; Incardona, S; Lee, E

    2012-02-01

    This enquiry aimed to provide a snap-shot of availability, price and quality of malaria rapid diagnostic tests (RDTs) in private health facilities at selected sites in six malaria-endemic countries in Africa, South East Asia and South America. In each study site, data collectors surveyed private healthcare facilities which were selected based on accessibility from their home institution. Using a questionnaire, information was recorded about the facility itself and the malaria RDT(s) available. Where possible, a small number of RDTs were procured and quality control tested using a standardized procedure. Of the 324 private healthcare facilities visited, 35 outlets (mainly private clinics and hospitals) were found to supply 10 different types of RDTs products. RDT prices across the six countries ranged from US$1.00 to $16.81. Five of the 14 malaria RDTs collected failed quality control testing. In the private outlets sampled, the availability of RDTs was limited. Some of the RDTs whose quality we tested demonstrated inadequate sensitivity. This presents a number of risks. Given the more widespread distribution of antimalarials currently planned for private sector facilities, parasite-based diagnosis in this sector will be essential to adhere to the WHO guidelines for effective case management of malaria. Considerable regulation and quality control are also necessary to assure the availability of accurate and reliable RDTs, as well as adequate case management and provider adherence to RDT results. Public sector engagement is likely to be essential in this process. © 2011 Blackwell Publishing Ltd.

  3. Catalase measurement: A new field procedure for rapidly estimating microbial loads in fuels and water-bottoms

    Energy Technology Data Exchange (ETDEWEB)

    Passman, F.J. [Biodeterioration Control Associates, Inc., Chicago, IL (United States); Daniels, D.A. [Basic Fuel Services, Dover, NJ (United States); Chesneau, H.F.

    1995-05-01

    Low-grade microbial infections of fuel and fuel systems generally go undetected until they cause major operational problems. Three interdependent factors contribute to this: mis-diagnosis, incorrect or inadequate sampling procedures and perceived complexity of microbiological testing procedures. After discussing the first two issues, this paper describes a rapid field test for estimating microbial loads in fuels and associated water. The test, adapted from a procedure initially developed to measure microbial loads in metalworking fluids, takes advantage of the nearly universal presence of the enzyme catalase in the microbes that contaminated fuel systems. Samples are reacted with a peroxide-based reagent; liberating oxygen gas. The gas generates a pressure-head in a reaction tube. At fifteen minutes, a patented, electronic pressure-sensing device is used to measure that head-space pressure. The authors present both laboratory and field data from fuels and water-bottoms, demonstrating the excellent correlation between traditional viable test data (acquired after 48-72 hours incubation) and catalase test data (acquired after 15 min.-4 hours). We conclude by recommending procedures for developing a failure analysis data-base to enhance our industry`s understanding of the relationship between uncontrolled microbial contamination and fuel performance problems.

  4. Behavior of households equipped with fuel oil heating facing the petroleum price sudden increase in 2000; Le comportement des menages equipes de chauffage au fioul face a la brutale augmentation du prix du petrole en 2000

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

    This paper analyses the public attitudes facing the sudden increase of the fuel oil increase during the year 2000. This increase has got a great impact on the households equipped with fuel oil heating. The households adapted their strategy to obtain the best prices, to defer the deliveries or to reduce energy consumption by a improve of the heating performances. (A.L.B.)

  5. Rapid evaluation of the electrooxidation of fuel compounds with a multiple-electrode setup for direct polymer electrolyte fuel cells

    Energy Technology Data Exchange (ETDEWEB)

    Fujiwara, Naoko; Siroma, Zyun; Ioroi, Tsutomu; Yasuda, Kazuaki [Research Institute for Ubiquitous Energy Devices, National Institute of Advanced Industrial Science and Technology (AIST), 1-8-31 Midorigaoka, Ikeda, Osaka 563-8577 (Japan)

    2007-02-10

    Electrochemical oxidation of fuel compounds in acidic media was examined on eight electrodes (Pt, Ru, PtRu, Rh, Ir, Pd, Au, and glassy carbon) simultaneously by multiple cyclic voltammetry (CV) with an electrochemical cell equipped with an eight-electrode configuration. Direct-type polymer electrolyte fuel cells (PEFCs), in which aqueous solutions of the fuel compounds are directly supplied to the anode, were also evaluated. The performances of direct PEFCs with various anode catalysts could be roughly estimated from the results obtained with multiple CV. This multiple evaluation may be useful for identifying novel fuels or electrocatalysts. Methanol, ethanol, ethylene glycol, 2-propanol, and D-glucose were oxidized selectively on Pt or PtRu, as reported previously. However, several compounds that are often used as reducing agents show electrochemical oxidation with unique characteristics. Large current was obtained for the oxidation of formic acid, hypophosphorous acid, and phosphorous acid on a Pd electrode. L-Ascorbic acid and sulfurous acid were oxidized on all of the electrodes used in the present study. (author)

  6. New empirical generalizations on the determinants of price elasticity

    NARCIS (Netherlands)

    Bijmolt, THA; Van Heerde, HJ; Pieters, RGM

    The importance of pricing decisions for firms has fueled an extensive stream of research on price elasticities. In an influential meta-analytical study, Tellis (1988) summarized price elasticity research findings until 1986. However, empirical generalizations on price elasticity require

  7. Gasoline Prices and Their Relationship to Rising Motorcycle Fatalities, 1990–2007

    Science.gov (United States)

    Stimpson, Jim P.; Hilsenrath, Peter E.

    2009-01-01

    Motor vehicle accidents are the leading cause of death among young adults. Although automobile fatalities have declined in recent years, motorcycle fatalities are rapidly increasing. The purpose of our research was to quantify the relationship between changing fuel prices and motorcycle fatalities. Our findings suggest that people increasingly rely on motorcycles to reduce their fuel costs in response to rising gasoline prices. We estimate that use of motorcycles and scooters instead of 4-wheeled vehicles results in over 1500 additional motorcycle fatalities annually for each dollar increase in gas prices. Motorcycle safety should receive more attention as a leading public health issue. PMID:19696374

  8. Does a Change in Price of Fuel Affect GDP Growth? An Examination of the U.S. Data from 1950–2013

    Directory of Open Access Journals (Sweden)

    Michael Aucott

    2014-10-01

    Full Text Available We examined data on fuel consumption and costs for the years 1950 through 2013, along with economic and population data, to determine the percent of U.S. gross domestic product (GDP spent each year on fuels, including fossil fuels and nuclear ore, and the growth of the economy. We found that these variables are inversely correlated. This suggests that the availability and cost of energy is a significant determinant of economic performance. We believe this relation is consistent with analyses based on the energy return on investment (EROI concept in that increasingly scarce, and hence expensive, fuels are a drag on economic growth. The best-fitting linear equation relating the percent of GDP (energy cost share and year-over-year (YoY GDP change variables suggests that a threshold exists in the vicinity of 4%; if the percent of GDP spent on fuels is greater than this, poorer economic performance has been likely. Currently, about 5% of GDP is spent on fuels; most of this is for liquids. Continued weak economic performance appears likely unless improvements in energy efficiency, on the order of a factor of 3 for liquid fuels, and/or a more rapid adoption of renewable or nuclear energy sources can be achieved, provided that the EROI of these new sources proves to be sufficiently high.

  9. A new field test kit for the rapid determination of diesel fuel in soil

    International Nuclear Information System (INIS)

    Schabron, J.F.; Niss, N.D.; Hart, B.K.; Hart, J.K.

    1995-01-01

    A new test kit is available for evaluating diesel and other fuel contamination in soils. While the Freon extraction/infrared method estimates fuel concentration by measuring aliphatic C-H stretch, approaches designed to replace this such as the immunoassay method and the method involving a Fridel-Crafts alkylation reaction measure the aromatic component of fuel mixtures. Both of these methods measure aromatic content indirectly with visible color development. The new method measures the aromatic components directly with a 254 nm portable field photometer. The method is very simple since it does not involve complicated color development steps, and does not require the use of highly toxic reagents. It involves a 3-minute extraction of soil with a 10:1 ratio of isopropyl alcohol. Prior to extraction, the soil is treated with an agent to minimize the extraction of humic materials which can interfere. The extract solution is passed through a syringe filter and the absorbance is read at 254 nm. The fuel concentration is calculated based on average relative response factors. Alternatively, the actual contaminant fuel can be used as a standard if it is known. The quantitation limit is about 75 mg/kg diesel in soil. The method has been tested with a variety of soils and fuel types

  10. The influence of the switch from fossil fuels to solar and wind energy on the electricity prices in Germany

    NARCIS (Netherlands)

    A.B. Dorsman (Andre); A. Khoshrou (Abdolrahman); E.J. Pauwels (Eric)

    2016-01-01

    textabstractGermany is actively pursuing a switch from fossil fuel to renewables, the so-called Energiewende (energy transition). Due to the fact that the supply of wind and solar energy is less predictable than the supply of fossil fuel, stabilizing the grid has become more challenging. On sunny

  11. Stochastic modeling of the energy supply system with uncertain fuel price – A case of emerging technologies for distributed power generation

    International Nuclear Information System (INIS)

    Mirkhani, Sh.; Saboohi, Y.

    2012-01-01

    Highlights: ► An existing bottom-up deterministic energy system model (ESM) has limited capability in handling the uncertainties. ► Uncertainty has been modeled based on GBM. Probabilistic scenarios are generated based on Cox–Ross method. ► A multistage stochastic model has been developed where scenarios are integrated in the energy system model. ► A distributed generation system has been introduced as a case study where fuel price is considered as an uncertain parameter. - Abstract: A deterministic energy supply model with bottom-up structure has limited capability in handling the uncertainties. To enhance the applicability of such a model in an uncertain environment two main issues have been investigated in the present paper. First, a binomial lattice is generated based on the stochastic nature of the source of uncertainty. Second, an energy system model (ESM) has been reformulated as a multistage stochastic problem. The result of the application of the modified energy model encompasses all uncertain outcomes together and enables optimal timing of capacity expansion. The performance of the model has been demonstrated with the help of a case study. The case study has been formulated on the assumption that a gas fired engine competes with renewable energy technologies in an uncertain environment where the price of natural gas is volatile. The result of stochastic model has then been compared with those of a deterministic model by studying the expected value of perfect information (EVPI) and the value of stochastic solution (VSS). Finally the results of the sensitivity analysis have been discussed where the characteristics of uncertainty of the price of fuel are varied.

  12. Visual investigation of transient fuel behavior under a rapid heating condition

    International Nuclear Information System (INIS)

    Saito, Shinzo

    1981-10-01

    An in-reactor experimental research on fuel behavior under reactivity initiated accident (RIA) conditions is being conducted in the Nuclear Safety Research Reactor (NSRR). The optical system in which a non-browning lens periscope is directly installed in the test section was successfully developed for photographing transient fuel behavior. Several phenomena which had never been revealed before were observed in the slow motion pictures taken in the NSRR experiments which were performed in the water and air environments. As for incipient failure mechanism for an unirradiated fuel rod under RIA conditions, brittle fracture of the cladding during quenching is dominant. However, a split cracking possibly occurs during even red hot state of the cladding. It is considered that the crack is generated by the local internal pressure increase at the specified region blocked up due to the melting of the cladding inner surface. The film boiling is unexpectablly violent specially in the early stage of the transient, and film thickness becomes 5 -- 6 mm at maximum. The observed thick vapor film can not be explained by the conventional theory, but the effect of hydrogen which is produced by Zircaloy-water reaction is reasonably explained to form thick film in the report. The molten fuel was expelled from the cladding in the experiment which was performed in an air environment. The expelled fuel fragmented due to possibly initial motion effect, not mechanical collision effect, because Weber number is smaller than the critical value. (author)

  13. Projections of the energy prices

    International Nuclear Information System (INIS)

    Jankauskas, V.

    1996-01-01

    This article deals with the trends of the main fuel prices development in the Western European markets. There are two possible price development scenarios presented in the article. Transportation costs of various internationally traded fuels from various sources (Russia, Western Europe) are estimated and their most feasible values are considered. Fuel prices for the final big consumers are calculated adding the domestic distribution costs. Trends of heat and electricity price development in Lithuania during the period of 1991-1995 are analyzed. Forecasts of the electricity generation and supply costs are calculated according to various scenarios. Electricity prices will be lowest in the case of the further operation of the Ignalina NPP and low fuel prices in international markets. (author). 8 refs., 14 figs., 4 tabs

  14. Production of Biodiesel from Thespesiapopulnea seed oil through rapid in situ transesterification - an optimization study and assay of fuel properties

    Science.gov (United States)

    Bhargavi, G.; Nageswara Rao, P.; Renganathan, S.

    2018-03-01

    Biodiesel production was carried out from Thespesia populnea seed oil through rapid insitu transesterification. Influence of reaction parameters such as catalyst type and concentration, methanol to biomass ratio, co-solvent volume, temperature and agitation speed on conversion of oil into methyl esters was investigated. The effect of different co-solvents on conversion was evaluated. Optimum methyl ester conversion of 97.80% was achieved at 1.5wt% of KOH catalyst, 5.5:1 (v/w) methanol to biomass ratio, 25vol%tetrahydrofuranco-solvent, 60°C and 500 rpm within 120min of reaction time. Fuel properties of produced methyl esters were well fitted within the limits of ASTMD 6751 standards. Considering the properties of produced biodiesel, Thespesia populnea seed derived biodiesel can be used as potential alternate to fossil diesel fuel.

  15. Thermometric Titration for Rapid Determination of Trace Water in Jet Fuel

    OpenAIRE

    Hu, Jian-Qiang; Zhang, Jian-Jian; Yang, Shi-Zhao; Xin, Yong-Liang; Guo, Li; Yao, Ting

    2017-01-01

    Water content in jet fuels is detected by thermometric titration (TMT), and the optimal detected system is 2,2-dimethoxypropane as titrant, cyclohexane and isopropanol as titration solvents, and methanesulfonic acid as catalyst in this method. The amounts of oil, concentration and delivery rate of titrant, volumes, and the reliability and accuracy of thermometric titration were emphasized. The results show that the accuracy, validity, and reliability of TMT are excellent by different indicate...

  16. Michigan residential No. 2 fuel oil and propane price survey for the 1990/91 heating season

    International Nuclear Information System (INIS)

    1991-10-01

    This report summarizes the results of a survey of home heating oil and propane prices over the 1990/1991 heating season in Michigan. The survey was conducted under a cooperative agreement between the State of Michigan, Michigan Public Service Commission and the US Department of Energy (DOE), Energy Information Administration (EIA), and was funded by a grant from EIA. From October 1990 through May 1991, participating dealers/distributions were called and asked for their current residential retail prices of No. 2 home heating oil and propane. This information was then transmitted to the EIA, bi-monthly using an electronic reporting system called Petroleum Data Reporting Option (PEDRO). The survey was conducted using a sample provided by EIA of home heating oil and propane retailers which supply Michigan households. These retailers were contacted the first and third Mondays of each month. The sample was designed to account for distributors with different sales volumes, geographic distributions and sources of primary supply. It should be noted that this simple is different from the sample used in prior year surveys

  17. Rapid detection of defects in fuel-cell electrodes using infrared reactive-flow-through technique

    Science.gov (United States)

    Das, Prodip K.; Weber, Adam Z.; Bender, Guido; Manak, Austin; Bittinat, Daniel; Herring, Andrew M.; Ulsh, Michael

    2014-09-01

    As fuel cells become more prominent, new manufacturing and production methods will need to be developed to deal efficiently and effectively with increased demand. One necessary component of this industrial growth is the accurate measurement of the variability in the manufacturing process. In this study, we present a diagnostic system that combines infrared thermography with a reactive-flow-through technique to detect catalyst-loading defects in fuel-cell gas-diffusion electrodes accurately with high spatial and temporal resolutions. Experimental results are compared with model predictions of thermal response with good agreement. Data analysis, operating-condition impacts, and detection limits are explored using both experiments and simulation. Overall, the results demonstrate the potential of this technique to measure defects on the millimeter length scale with temporal resolutions appropriate for use on a web-line. Thus we present the first development stage of a next-generation non-destructive diagnostic tool, which may be amenable to eventual use on roll-to-roll manufacturing lines.

  18. Energy price risk management

    International Nuclear Information System (INIS)

    Evans, J.W.G.

    1998-01-01

    While long term, fixed price contracts for fuel procurement and export of excess power may lock in the economics of a CHP plant, these do not necessarily give the best pricing opportunities that may exist during the life of those contracts. A more prudent approach may be to vary the length of the contracts and markets are now developing in gas and electricity to assist in the management of such a portfolio. (Author)

  19. Development of a system for rapid discharge of spherical fuel elements as a diversitary afterheat removal system for pebble-bed HTR-type reactors

    International Nuclear Information System (INIS)

    Phlippen, P.W.

    1982-07-01

    Owing to its spherical fuel elements the pebble bed high temperature reactor provides the possibility to remove these fuel elements rapidly from the reactor for the purpose of after-heat removal and cooling in situations of danger and to collect them in easily cooled tanks. The paper investigates and represents fields of problems such as critically behaviour of core and fuel element collecting tanks, emission time of the core, thermodynamics in the vessel etc. by example of the PNP-500 reactor concept. A selection for the construction proposal was made from the performance possibilities of the three necessary main components prestressed-concrete vessel closure, fuel element guide and fuel element storage with cooling system. The proposal includes a prestressed concrete vessel closure opening by hydraulics as well as three annular fuel element storage modules cooled with the containment air by natural convection. (orig.) [de

  20. An electricity price model with consideration to load and gas price effects.

    Science.gov (United States)

    Huang, Min-xiang; Tao, Xiao-hu; Han, Zhen-xiang

    2003-01-01

    Some characteristics of the electricity load and prices are studied, and the relationship between electricity prices and gas (fuel) prices is analyzed in this paper. Because electricity prices are strongly dependent on load and gas prices, the authors constructed a model for electricity prices based on the effects of these two factors; and used the Geometric Mean Reversion Brownian Motion (GMRBM) model to describe the electricity load process, and a Geometric Brownian Motion(GBM) model to describe the gas prices; deduced the price stochastic process model based on the above load model and gas price model. This paper also presents methods for parameters estimation, and proposes some methods to solve the model.

  1. The message in North American energy prices

    Energy Technology Data Exchange (ETDEWEB)

    Serletis, A. [Department of Economics, The University of Calgary, Calgary, Alberta (Canada); Herbert, J. [Virginia Polytechnic Institute and State University, Blacksburg, Virginia (United States)

    1999-10-01

    How similar is the price behavior of North American natural gas, fuel oil, and power prices? Using current state-of-the-art econometric methodology, we explore the degree of shared trends across North American energy markets. Across these markets, there appear to be effective arbitraging mechanisms for the price of natural gas and fuel oil, but not for the price of electricity. 11 refs.

  2. Natural gas prices

    International Nuclear Information System (INIS)

    Johnson, W.A.

    1990-01-01

    Since the 1970s, many electric utilities and industrial boiler fuel users have invested in dual fuel use capability which has allowed them to choose between natural gas, residual fuel oil, and in some instances, coal as boiler fuels. The immediate reason for this investment was the need for security of supply. Wellhead regulation of natural gas prices had resulted in shortages during the 1970s. Because many industrial users were given lowest priority in pipeline curtailments, these shortages affected most severely boiler fuel consumption of natural gas. In addition, foreign supply disruptions during the 1970s called into question the ready availability of oil. Many boiler fuel users of oil responded by increasing their ability to diversify to other sources of energy. Even though widespread investment in dual fuel use capability by boiler fuel users was initially motivated by a need for security of supply, perhaps the most important consequence of this investment was greater substitutability between natural gas and resid and a more competitive boiler fuel market. By the early 1980s, most boiler fuel users were able to switch from one fuel to another and often did for savings measured in pennies per MMBtu. Boiler fuel consumption became the marginal use of both natural gas and resid, with coal a looming threat on the horizon to both fuels

  3. Price fairness

    OpenAIRE

    Diller, Hermann

    2013-01-01

    Purpose – The purpose of this article is to integrate the various strands of fair price research into a concise conceptual model. Design/methodology/approach – The proposed price fairness model is based on a review of the fair pricing literature, incorporating research reported in not only English but also German. Findings – The proposed fair price model depicts seven components of a fair price: distributive fairness, consistent behaviour, personal respect and regard for the partner, fair dea...

  4. Impact of electric range and fossil fuel price level on the economics of plug-in hybrid vehicles and greenhouse gas abatement costs

    International Nuclear Information System (INIS)

    Özdemir, Enver Doruk; Hartmann, Niklas

    2012-01-01

    In this paper, the energy consumption shares of plug-in hybrid vehicles (PHEVs) for electricity from the grid and conventional fuel depending on electric driving range are estimated. The resulting mobility costs and greenhouse gas (GHG) abatement costs per vehicle kilometer for the year 2030 are calculated and optimal electric driving range (which indicates the size of the battery) is found for different oil price levels with the help of a MATLAB based model for a typical compact passenger car (e.g. VW Golf). The results show that the optimum electric driving range for minimum mobility costs of a PHEV is between 12 and 32 km. Furthermore, optimum GHG abatement costs are achieved with an electric driving range between 16 and 23 km. These results are considerable lower than most market ready PHEVs (electric driving range of 50 to 100 km), which shows that the automobile industry should concentrate on shorter electric driving range for PHEVs in the near future to offer cost optimum mobility and low GHG abatement costs. However, the oil price level and the consumer driving habits impact heavily on the cost performance as well as the optimum electric driving range of plug-in hybrid vehicles. - Highlights: ► We analyze the energy consumption (and share of grid electricity) of plug-in hybrid vehicles. ► We analyzed the mobility costs and GHG abatement costs depending on electric driving range. ► Mobility costs of plug-in hybrid vehicles can be lower than those of conventional diesel vehicles in 2030. ► The optimum mobility costs are achieved with the electric driving range between 12 and 32 km. ► The optimum GHG abatement costs are achieved with the electric driving range between 16 and 23 km.

  5. Dynamic Pricing

    DEFF Research Database (Denmark)

    Sharifi, Reza; Anvari-Moghaddam, Amjad; Fathi, S. Hamid

    2017-01-01

    Dynamic pricing scheme, also known as real-time pricing (RTP), can be more efficient and technically beneficial than the other price-based schemes (such as flat-rate or time-of-use (TOU) pricing) for enabling demand response (DR) actions. Over the past few years, advantages of RTP-based schemes h...... of dynamic pricing can lead to increased willingness of consumers to participate in DR programs which in turn improve the operation of liberalized electricity markets.......Dynamic pricing scheme, also known as real-time pricing (RTP), can be more efficient and technically beneficial than the other price-based schemes (such as flat-rate or time-of-use (TOU) pricing) for enabling demand response (DR) actions. Over the past few years, advantages of RTP-based schemes...

  6. The thorium fuel cycle

    International Nuclear Information System (INIS)

    Merz, E.R.

    1977-01-01

    The utilization of the thorium fuel cycle has long since been considered attractive owing to the excellent neutronic characteristics of 233 U, and the widespread and cheap thorium resources. Rapidly increasing uranium prices, public reluctance for widespread Pu recycling and expected delays for the market penetration of fast breeders have led to a reconsideration of the thorium fuel cycle merits. In addition, problems associated with reprocessing and waste handling, particularly with re-fabrication by remote handling of 233 U, are certainly not appreciably more difficult than for Pu recycling. To divert from uranium as a nuclear energy source it seems worth while intensifying future efforts for closing the Th/ 233 U fuel cycle. HTGRs are particularly promising for economic application. However, further research and development activities should not concentrate on this reactor type alone. Light- and heavy-water-moderated reactors, and even future fast breeders, may just as well take advantage of a demonstrated thorium fuel cycle. (author)

  7. An essay pertaining to the supply and price of natural gas as fuel for electric utilities and independent power producers; and, the related growth of non-utility generators to meet capacity shortfalls in the next decade

    International Nuclear Information System (INIS)

    Clements, J.R.

    1990-01-01

    This paper addresses the impact natural gas and petroleum prices have on how the electric power industry decides to meet increasing demand for electric power. The topics of the paper include the pricing impact of the Iraq-Kuwait conflict, the BTU parity argument, electric utility capacity shortfalls in 1993, the growth of the non-utility generator and the independent power developer market, natural gas as the desired fuel of the decade, the financial strategy in acquiring natural gas reserves, the cost and availability of natural gas supplies for non-utility generators, and the reluctance of the gas producers to enter long term contracts

  8. Modelling socio-metabolic transitions: The historical take-off, the acceleration of fossil fuel use, and the 1970s oil price shock - the first trigger of a future decline?

    Science.gov (United States)

    Wiedenhofer, Dominik; Rovenskaya, Elena; Krausmann, Fridolin; Haas, Willi; Fischer-Kowalski, Marina

    2013-04-01

    triggered the end of rapid physical growth in high income countries. This could contribute to understanding the potential effect of other such shocks such as the rise in energy prices preceding the recent crisis, or future shocks related to the risks of nuclear energy or unconventional fossil fuels.

  9. HTGR fuel and fuel cycle technology

    International Nuclear Information System (INIS)

    Lotts, A.L.; Homan, F.J.; Balthesen, E.; Turner, R.F.

    1977-01-01

    Significant advances have occurred in the development of HTGR fuel and fuel cycle. These accomplishments permit a wide choice of fuel designs, reactor concepts, and fuel cycles. Fuels capable of providing helium outlet temperatures of 750 0 C are available, and fuels capable of 1000 0 C outlet temperatures may be expected from extension of present technology. Fuels have been developed for two basic HTGR designs, one using a spherical (pebble bed) element and the other a prismatic element. Within each concept a number of variations of geometry, fuel composition, and structural materials are permitted. Potential fuel cycles include both low-enriched and high-enriched Th- 235 U, recycle Th- 233 U, and Th-Pu or U-Pu cycles. This flexibility offered by the HTGR is of great practical benefit considering the rapidly changing economics of power production. The inflation of ore prices has increased optimum conversion ratios, and increased the necessity of fuel recycle at an early date. Fuel element makeup is very similar for prismatic and spherical designs. Both use spherical fissile and fertile particles coated with combinations of pyrolytic carbon and silicon carbide. Both use carbonaceous binder materials, and graphite as the structural material. Weak-acid resin (WAR) UO 2 -UC 2 fissile fuels and sol-gel-derived ThO 2 fertile fuels have been selected for the Th- 233 U cycle in the prismatic design. Sol-gel-derived UO 2 UC 2 is the reference fissile fuel for the low-enriched pebble bed design. Both the United States and Federal Republic of Germany are developing technology for fuel cycle operations including fabrication, reprocessing, refabrication, and waste handling. Feasibility of basic processes has been established and designs developed for full-scale equipment. Fuel and fuel cycle technology provide the basis for a broad range of applications of the HTGR. Extension of the fuels to higher operating temperatures and development and commercial demonstration of fuel

  10. Long-term projections for electricity and gas prices

    International Nuclear Information System (INIS)

    Borggrefe, Frieder; Lochner, Stefan

    2009-01-01

    The article analyses potential developments of wholesale electricity prices in Germany until 2030. The relevant determinants and their effects on prices are shown. Several projections demonstrate the impact of future fuel prices taking the political framework into account. The importance of carbon and gas prices - and the latter's relationship to oil prices - are discussed extensively. Although forecasting electricity prices is associated with great uncertainties, the article illustrates the relative impacts of the various price determinants and their interactions. (orig.)

  11. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

    Against a background of rather mixed evidence about transfer pricing practices in multinational enterprises (MNEs) and varying attitudes on the part of tax authorities, this paper explores how multiple aims in transfer pricing can be pursued across four different transfer pricing regimes. A MNE h...

  12. Gold prices

    OpenAIRE

    Joseph G. Haubrich

    1998-01-01

    The price of gold commands attention because it serves as an indicator of general price stability or inflation. But gold is also a commodity, used in jewelry and by industry, so demand and supply affect its pricing and need to be considered when gold is a factor in monetary policy decisions.

  13. Biofuel and Food-Commodity Prices

    Directory of Open Access Journals (Sweden)

    David Zilberman

    2012-09-01

    Full Text Available The paper summarizes key findings of alternative lines of research on the relationship between food and fuel markets, and identifies gaps between two bodies of literature: one that investigates the relationship between food and fuel prices, and another that investigates the impact of the introduction of biofuels on commodity-food prices. The former body of literature suggests that biofuel prices do not affect food-commodity prices, but the latter suggests it does. We try to explain this gap, and then show that although biofuel was an important contributor to the recent food-price inflation of 2001–2008, its effect on food-commodity prices declined after the recession of 2008/09. We also show that the introduction of cross-price elasticity is important when explaining soybean price, but less so when explaining corn prices.

  14. Future fuel cycles

    International Nuclear Information System (INIS)

    Archinoff, G.H.

    1980-01-01

    A fuel cycle must offer both financial and resource savings if it is to be considered for introduction into Ontario's nuclear system. The most promising alternative CANDU fuel cycles are examined in the context of both of these factors over a wide range of installed capacity growth rates and economic assumptions, in order to determine which fuel cycle, or cycles, should be introduced, and when. It is concluded that the optimum path for the long term begins with the prompt introduction of the low-enriched-uranium fuel cycle. For a wide range of conditions, this cycle remains the optimum throughout the very long term. Conditions of rapid nuclear growth and very high uranium price escalation rates warrant the supersedure of the low-enriched-uranium cycle by either a plutonium-topped thorium cycle or plutonium recycle, beginning between 2010 and 2025. It is also found that the uranium resource position is sound in terms of both known resources and production capability. Moreover, introduction of the low-enriched-uranium fuel cycle and 1250 MWe reactor units will assure the economic viability of nuclear power until at least 2020, even if uranium prices increase at a rate of 3.5% above inflation. The interrelationship between these two conclusions lies in the tremendous incentive for exploration which will occur if the real uranium price escalation rate is high. From a competitive viewpoint, nuclear power can withstand increases in the price of uranium. However, such increases will likely further expand the resource base, making nuclear an even more reliable energy source. (auth)

  15. Report on the inquiry into sale price fluctuations of gasoline and diesel fuel in the regions of Abitibi-Temiscamingue, Saguenay-Lac Saint Jean and the Upper Mauricie, October 1998 to 31 December 1999

    International Nuclear Information System (INIS)

    Lambert, L.; Dumais, M. A.

    2000-01-01

    An inquiry was initiated by the President of the Quebec Energy Board (Regie de l'energie) on October 7, 1999 to review the reasons for the wide fluctuations in the retail sale prices of gasoline and diesel fuel in the regions of Abitibi-Temiscamingue, Saguenay/Lac-Saint-Jean and the Upper Mauricie, although the Board has no jurisdiction over the prices charged for petroleum products or anti-competitive practices. Consequently, the inquiry confined itself to an analysis of the information pertaining to the structure and forces driving the petroleum products market, and an examination of price mechanisms and consumer reactions in these regions. The inquiry reviewed the relevant legislation and regulation, the social, economic and energy situations in the affected regions, and the structure and functioning of the market for gasoline and diesel fuel. The inquiry came to the conclusion that the price fluctuations during the period under review reflected the wholesale prices recorded at Montreal and Quebec, which are determined by national and international market forces over which Quebec has no significant control. Furthermore, the inquiry concluded that although market forces are present and functioning in the regions, there are relatively few outlets affiliated with major oil companies, and a large number of independent retail outlets with relatively small volumes of annual sales. They essentially set their own prices at a level that reflect their cost of operation. Appendices contain the Inquiry's mandate, a list of those who testified before the Inquiry, a map showing the geographic profile of the regions surveyed and a list of figures and tables. 18 tabs., 31 figs

  16. DIREM's prices. Prices and margins of petroleum products in France and in the European Union

    International Nuclear Information System (INIS)

    2002-08-01

    This report presents in a series of graphs and tables the prices and margins of petroleum products in France and in the European Union (EU) according to the data compiled by the Direction of energy and mineral resources (DIREM) of the French general direction of energy and raw materials (DGEMP, Ministry of economy, finances and industry): evolution of crude prices, evolution of Rotterdam's quotation of petroleum products, raw margin of brent refining, French fuel prices (automotive and domestic fuels, evolution, comparison with EU and Rotterdam's prices), comparison with prices in other European countries, evolution of average retail prices in France. (J.S.)

  17. Carbon Pricing: Design, Experiences and Issues

    DEFF Research Database (Denmark)

    Carbon Pricing reflects upon and further develops the ongoing and worthwhile global debate into how to design carbon pricing, and how to utilize the financial proceeds in the best possible way for society. The world has recently witnessed a significant downward adjustment in fossil fuel prices...

  18. Who is exposed to gas prices? How gasoline prices affect automobile manufacturers and dealerships

    OpenAIRE

    Silva-Risso, Jorge; Zettelmeyer, Florian; Busse, Meghan R.; Knittel, Christopher Roland

    2016-01-01

    Many consumers are keenly aware of gasoline prices, and consumer responses to gasoline prices have been well studied. In this paper, by contrast, we investigate how gasoline prices affect the automobile industry: manufacturers and dealerships. We estimate how changes in gasoline prices affect equilibrium prices and sales of both new and used vehicles of different fuel economies. We investigate the implications of these effects for individual auto manufacturers, taking into account differences...

  19. Who is exposed to gas prices? How gasoline prices affect automobile manufacturers and dealerships

    OpenAIRE

    Busse, Meghan R.; Kittel, Christopher R.; Zettelmeyer, Florian

    2012-01-01

    Many consumers are keenly aware of gasoline prices, and consumer responses to gasoline prices have been well studied. In this paper, by contrast, we investigate how gasoline prices affect the automobile industry: manufacturers and dealerships. We estimate how changes in gasoline prices affect equilibrium prices and sales of both new and used vehicles of different fuel economies. We investigate the implications of these effects for individual auto manufacturers, taking into account differences...

  20. Rockets and Feathers: The Asymmetric Effect between China’s Refined Oil Prices and International Crude Oil Prices

    Directory of Open Access Journals (Sweden)

    Yufeng Chen

    2017-03-01

    Full Text Available This paper employs an asymmetric error-correction model (AECM, and uses monthly data on wholesale prices of gasoline and diesel products in China and international crude oil prices from February 2006 to October 2013 to examine whether China’s gasoline and diesel prices adjust asymmetrically to international crude oil price changes. Our empirical results suggest that increases and decreases in international oil prices have asymmetric effects on both wholesale prices of gasoline and diesel fuel in China, and that both increases and decreases in international oil prices have a greater effect on diesel prices than on gasoline prices in China. If there is no change in the maximum retail price, the asymmetry results from the transmission of wholesale prices in China with international oil prices. However, if there is a change in maximum retail prices, both international oil prices and maximum retail prices cause the asymmetry.

  1. Oil price uncertainty in Canada

    Energy Technology Data Exchange (ETDEWEB)

    Elder, John [Department of Finance and Real Estate, 1272 Campus Delivery, Colorado State University, Fort Collins, CO 80523 (United States); Serletis, Apostolos [Department of Economics, University of Calgary, Calgary, Alberta (Canada)

    2009-11-15

    Bernanke [Bernanke, Ben S. Irreversibility, uncertainty, and cyclical investment. Quarterly Journal of Economics 98 (1983), 85-106.] shows how uncertainty about energy prices may induce optimizing firms to postpone investment decisions, thereby leading to a decline in aggregate output. Elder and Serletis [Elder, John and Serletis, Apostolos. Oil price uncertainty.] find empirical evidence that uncertainty about oil prices has tended to depress investment in the United States. In this paper we assess the robustness of these results by investigating the effects of oil price uncertainty in Canada. Our results are remarkably similar to existing results for the United States, providing additional evidence that uncertainty about oil prices may provide another explanation for why the sharp oil price declines of 1985 failed to produce rapid output growth. Impulse-response analysis suggests that uncertainty about oil prices may tend to reinforce the negative response of output to positive oil shocks. (author)

  2. Car buyers and fuel economy?

    International Nuclear Information System (INIS)

    Turrentine, Thomas S.; Kurani, Kenneth S.

    2007-01-01

    This research is designed to help researchers and policy makers ground their work in the reality of how US consumers are thinking and behaving with respect to automotive fuel economy. Our data are from semi-structured interviews with 57 households across nine lifestyle 'sectors.' We found no household that analyzed their fuel costs in a systematic way in their automobile or gasoline purchases. Almost none of these households track gasoline costs over time or consider them explicitly in household budgets. These households may know the cost of their last tank of gasoline and the unit price of gasoline on that day, but this accurate information is rapidly forgotten and replaced by typical information. One effect of this lack of knowledge and information is that when consumers buy a vehicle, they do not have the basic building blocks of knowledge assumed by the model of economically rational decision-making, and they make large errors estimating gasoline costs and savings over time. Moreover, we find that consumer value for fuel economy is not only about private cost savings. Fuel economy can be a symbolic value as well, for example among drivers who view resource conservation or thrift as important values to communicate. Consumers also assign non-monetary meaning to fuel prices, for example seeing rising prices as evidence of conspiracy. This research suggests that consumer responses to fuel economy technology and changes in fuel prices are more complex than economic assumptions suggest. The US Department of Energy and the Energy Foundation supported this research. The authors are solely responsible for the content and conclusions presented

  3. Prices and taxes for gasoline and diesel in industrialized countries

    International Nuclear Information System (INIS)

    Davoust, R.

    2008-01-01

    This report present a comparative study on the prices and taxes of automotive fuels (gasoline and diesel fuel) in various industrialized countries, members of the OECD organization. Statistics are taken from a publication of the IEA (International Energy Agency), and concern the following fuel categories: regular gasoline, unleaded premium gasoline (SP 95 and SP 98), professional diesel fuel and domestic diesel fuel. It is shown that fuel prices are generally equivalent from one country to another, while taxes make all the difference for the retail final price. Somme global comparisons are also made between US and EU prices

  4. The Effects of Changing Input Costs on Food Prices

    OpenAIRE

    R. McFall Lamm; Paul C. Westcott

    1981-01-01

    The relationships between changes in food sector input costs and retail food prices are examined. Results indicate that increases in factor prices pass quickly to consumers, within two quarters for most foods. In addition, rising farm-level prices and substantial increases in nonfarm resource prices appear to explain why food prices rose more rapidly than nonfood prices in the 1970s. The analysis is based on a twenty-equation econometric model of the food-price determination process, specifie...

  5. Nuclear power fuel cycle

    International Nuclear Information System (INIS)

    Havelka, S.; Jakesova, L.

    1982-01-01

    Economic problems are discussed of the fuel cycle (cost of the individual parts of the fuel cycle and the share of the fuel cycle in the price of 1 kWh), the technological problems of the fuel cycle (uranium ore mining and processing, uranium isotope enrichment, the manufacture of fuel elements, the building of long-term storage sites for spent fuel, spent fuel reprocessing, liquid and gaseous waste processing), and the ecologic aspects of the fuel cycle. (H.S.)

  6. Transfer Pricing

    DEFF Research Database (Denmark)

    Rohde, Carsten; Rossing, Christian Plesner

    trade internally as the units have to decide what prices should be paid for such inter-unit transfers. One important challenge is to uncover the consequences that different transfer prices have on the willingness in the organizational units to coordinate activities and trade internally. At the same time...... the determination of transfer price will affect the size of the profit or loss in the organizational units and thus have an impact on the evaluation of managers‟ performance. In some instances the determination of transfer prices may lead to a disagreement between coordination of the organizational units...

  7. The effects of utility DSM programs on electricity costs and prices

    Energy Technology Data Exchange (ETDEWEB)

    Hirst, E.

    1991-11-01

    More and more US utilities are running more and larger demand-side management (DSM) programs. Assessing the cost-effectiveness of these programs raises difficult questions for utilities and their regulators. Should these programs aim to minimize the total cost of providing electric-energy services or should they minimize the price of electricity? This study offers quantitative estimates on the tradeoffs between total costs and electricity prices. This study uses a dynamic model to assess the effects of energy-efficiency programs on utility revenues, total resource costs, electricity prices, and electricity consumption for the period 1990 to 2010. These DSM programs are assessed under alternative scenarios. In these cases, fossil-fuel prices, load growth, the amount of excess capacity the utility has in 1990, planned retirements of power plants, the financial treatment of DSM programs, and the costs of energy- efficient programs vary. These analyses are conducted for three utilities: a ``base`` that is typical of US utilities; a ``surplus`` utility that has excess capacity, few planned retirements, and slow growth in fossil-fuel prices and incomes; and a ``deficit`` utility that has little excess capacity, many planned retirements, and rapid growth in fossil-fuel prices and incomes. 28 refs.

  8. The effects of utility DSM programs on electricity costs and prices

    Energy Technology Data Exchange (ETDEWEB)

    Hirst, E.

    1991-11-01

    More and more US utilities are running more and larger demand-side management (DSM) programs. Assessing the cost-effectiveness of these programs raises difficult questions for utilities and their regulators. Should these programs aim to minimize the total cost of providing electric-energy services or should they minimize the price of electricity This study offers quantitative estimates on the tradeoffs between total costs and electricity prices. This study uses a dynamic model to assess the effects of energy-efficiency programs on utility revenues, total resource costs, electricity prices, and electricity consumption for the period 1990 to 2010. These DSM programs are assessed under alternative scenarios. In these cases, fossil-fuel prices, load growth, the amount of excess capacity the utility has in 1990, planned retirements of power plants, the financial treatment of DSM programs, and the costs of energy- efficient programs vary. These analyses are conducted for three utilities: a base'' that is typical of US utilities; a surplus'' utility that has excess capacity, few planned retirements, and slow growth in fossil-fuel prices and incomes; and a deficit'' utility that has little excess capacity, many planned retirements, and rapid growth in fossil-fuel prices and incomes. 28 refs.

  9. Petroleum price

    International Nuclear Information System (INIS)

    Chevallier, B.

    2009-01-01

    The 'AFTP' conference on 'petroleum prices' organized by Total last March, tries to explain the different aspects of the crisis we undergo for July 2007 and its consequential effects on the petroleum markets (supply, demand evolvements, impacts on reserves, prices, refining...). (O.M.)

  10. Changes of uranium market price and trend in recent years

    International Nuclear Information System (INIS)

    Wang Xingwu; Chen Zuyi

    2008-01-01

    The market price (especially the spot price ) of uranium has experienced significant changes since 2004. Several stages of uranium price are summed up. It is the slow increase period of uranium price from 1991 to 2004, The uranium price rapid rise from 2005 to 2007. The price of uranium jumped sharply from the fourth quarter 2006 to first half of 2007. The price of uranium rapid declined and tended to be stable from second half 2007 to this day. Characteristics, reason and change trend of uranium price in these stages are summarized. (authors)

  11. Record prices [crude oil

    International Nuclear Information System (INIS)

    Anon

    2006-01-01

    Crude oil prices climbed to new record levels on fears of a future loss of supplies from Iran as Washington stepped up its efforts to persuade Tehran to abandon its programme to produce nuclear fuel. IPE's December Brent contract set a new record for the exchange by trading at $75.80/bbl on 21st April. On the same day October WTI reached an all-time high of $77.30/bbl on Nymex. US product prices gained as refiners struggled to produce sufficient middle distillate. Alarmed by the rising retail price of gasoline, the US Senate debated a reduction in the already low US tax rate on motor spirit. The House of Representatives passed a measure to prohibit overcharging for petrol, diesel and heating oil, but Democrats rejected a Republican proposal to speed-up the process for approving new refineries. President George W Bush announced a temporary easing of new gasoline and diesel specifications (see 'Focus', March 2006) to allow more fuel to be produced. He also agreed to delay the repayment of some 2.1 mn bbl of crude oil lent to companies after last year's hurricanes from the Strategic Petroleum Reserve. California announced an inquiry into alleged overcharging for fuel by oil companies operating in the state. (author)

  12. Fuel demand on UK roads and dieselisation of fuel economy

    International Nuclear Information System (INIS)

    Bonilla, David

    2009-01-01

    Because of high oil prices, and climate change policy, governments are now seeking ways to improve new car fuel economy thus contributing to air quality and energy security. One strategy is to increase dieselisation rates of the vehicle fleet. Recent trends in fuel economy show improvement since 1995, however, efforts need to go further if the EU Voluntary Agreement targets on CO 2 (a greenhouse gas emission standard) are to be achieved. Trends show diesel car sales have accelerated rapidly and that the advantage of new car fuel economy of diesel cars over gasoline ones is narrowing posing a new challenge. We estimate the demand for new car fuel economy in the UK. In the long-run consumers buy fuel economy, but not in the short-run. We found that long-term income and price changes were the main drivers to achieve improvements particularly for diesel cars and that there is no break in the trend of fuel economy induced by the agreement adopted in the 1990s. Policy should target more closely both consumer choice of, and use of, diesel cars.

  13. Direm prices, prices and margins of petroleum products in France and in the European Union

    International Nuclear Information System (INIS)

    2005-01-01

    This document presents in a series of graphics and tables, the evolution of petroleum products prices and margins in France and in the European Union: crude oil prices, Rotterdam's petroleum products quotation, raw brent refining margin, automotive and domestic fuel prices. (J.S.)

  14. Price increase

    CERN Multimedia

    2006-01-01

    Please take note that after five years of stable prices at Restaurant No 1 a price increase will come into force on 1st January 2006. This increase has been agreed after discussions between the CSR (Comité de Surveillance des Restaurants) and the catering company Novae and will reflect the inflation rate of the last few years. In addition, a new children's menu will be introduced, as well as 'Max Havelaar' fair-trade coffee at a price of 1.70 CHF.

  15. Price increase

    CERN Multimedia

    2005-01-01

    Please take note that after five years of stable prices at Restaurant No 1 a price increase will come into force on 1st January 2006. This increase has been agreed after discussions between the CSR (Comité de Surveillance des Restaurants) and the catering company Novae and will reflect the inflation rate of the last few years. In addition, a new children's menu will be introduced as well as 'Max Havelaar' fair-trade coffee at a price of 1.70 CHF.

  16. Commercial aviation alternative fuels initiative

    Science.gov (United States)

    2010-04-22

    This presentation looks at alternative fuels to enhance environmental stability, reduction of greenhouse gas emissions, air quality benefits (e.g., SOx and PM), fuel supply stability, and fuel price stability.

  17. Freemium Pricing

    DEFF Research Database (Denmark)

    Runge, Julian; Wagner, Stefan; Claussen, Jörg

    Firms commonly run field experiments to improve their freemium pricing schemes. However, they often lack a framework for analysis that goes beyond directly measurable outcomes and focuses on longer term profit. We aim to fill this gap by structuring existing knowledge on freemium pricing...... into a stylized framework. We apply the proposed framework in the analysis of a field experiment that contrasts three variations of a freemium pricing scheme and comprises about 300,000 users of a software application. Our findings indicate that a reduction of free product features increases conversion as well...... as viral activity, but reduces usage – which is in line with the framework’s predictions. Additional back-of-the-envelope profit estimations suggest that managers were overly optimistic about positive externalities from usage and viral activity in their choice of pricing scheme, leading them to give too...

  18. Petroleum price

    International Nuclear Information System (INIS)

    Maurice, J.

    2001-01-01

    The oil market is the most volatile of all markets, with the exception of the Nasdaq. It is also the biggest commodity market in the world. Therefore one cannot avoid forecasting oil prices, nor can one expect to avoid the forecasting errors that have been made in the past. In his report, Joel Maurice draws a distinction between the short term and the medium-long term in analysing the outlook for oil prices. (author)

  19. A study of Canadian retail gasoline prices

    International Nuclear Information System (INIS)

    Eckert, A.L.

    1999-05-01

    Retail gasoline pricing in Canadian markets was examined to demonstrate why retail prices tend to follow one of two distinct patterns and that neither pattern is observable in the wholesale price. In many cities, retail prices are more rigid than wholesale prices, while in other markets, retail prices follow a cyclic pattern not seen in wholesale prices. This study examined why constant prices are observed in some cities, while other cities have cyclic prices. Theoretical justification was given to the argument that prices will remain constant only in markets in which there are only few gasoline companies with a small number of stations, but a large per-station capacity. It was shown that when one firm operates significantly more stations than its rival, a constant cost equilibrium cannot be maintained. However, a cycle equilibrium can be constructed in this case, and also when the two companies are similarly sized. An initial examination of available price, cost and market structure data shows that there is a positive correlation between price stability and concentration. The response of retail prices to wholesale price movements in the presence of a retail price cycle was also examined through the use of a simple model based on the predictions of the above theory. Data for the city of Windsor, Ontario was used for the modelling approach. A new cycle is created by an increase in price whenever the distance between the previous retail price and the current wholesale prices is very small. Retail prices are more responsive to wholesale prices over the increasing portion of the cycle. It was shown that when the asymmetric error correction model of Borenstein, Cameron and Gilbert is estimated, it indicates a more rapid response to wholesale price increases than to decreases. 72 refs., 22 tabs., 8 figs

  20. Measuring global gasoline and diesel price and income elasticities

    International Nuclear Information System (INIS)

    Dahl, Carol A.

    2012-01-01

    Price and income elasticities of transport fuel demand have numerous applications. They help forecast increases in fuel consumption as countries get richer, they help develop appropriate tax policies to curtail consumption, help determine how the transport fuel mix might evolve, and show the price response to a fuel disruption. Given their usefulness, it is understandable why hundreds of studies have focused on measuring such elasticities for gasoline and diesel fuel consumption. In this paper, I focus my attention on price and income elasticities in the existing studies to see what can be learned from them. I summarize the elasticities from these historical studies. I use statistical analysis to investigate whether income and price elasticities seem to be constant across countries with different incomes and prices. Although income and price elasticities for gasoline and diesel fuel are not found to be the same at high and low incomes and at high and low prices, patterns emerge that allow me to develop suggested price and income elasticities for gasoline and diesel demand for over one hundred countries. I adjust these elasticities for recent fuel mix policies, and suggest an agenda of future research topics. - Research highlights: ► Surveyed econometric studies of transport fuel demand. ► Developed price elasticities of demand for gasoline and diesel fuel for 120 countries. ► Developed income elasticities of demand for gasoline and diesel fuel for 120 countries. ► Suggested a research agenda for future work.

  1. Pricing and tariffs

    International Nuclear Information System (INIS)

    Dyrelund, A.

    1993-01-01

    Danish suppliers of electricity and district heating are with a few exceptions either public utilities or cooperatives owned by consumers. The basic tariff regulations for electricity and heat in Denmark state that the tariff has to cover all costs and that only a reasonable interest of invested capital may be included in the tariff. Consequently, all profit has to be used to lower prices. For municipality-owned utilities the consumer prices would be the same if the consumers were the owners. It is typical for the district heating and electricity sector that the technical system, the organizations involved and the tariff levels show the same structure: Plants - transmission - distribution - consumer. E.g. the price of energy from the transmission system includes costs of plants and transmission, but not costs of distribution. Concerning energy saving measures in buildings it is important to note that energy saving measures should not be evaluated on the basis of saved GJ (Giga Joule) thermal energy and GJ electricity because the fuel energy consumption and the share of variable costs depend on the supply system. To find least-cost solutions to satisfy the basic demand for energy services, it is necessary to be aware of the whole chain of elements from fuel to services: fuel - plant - network - consumer installations - building envelope - services. The consumer tariff is the most important link between the supply systems and the buildings. A reasonably designed incentive tariff may work for least-cost solutions, whereas other tariffs may encourage a waste of resources, either waste of fuel energy or waste of investments. (AB)

  2. Price dynamics in European petroleum markets

    International Nuclear Information System (INIS)

    Wlazlowski, Szymon; Giulietti, Monica; Binner, Jane; Milas, Costas

    2009-01-01

    This paper analyses horizontal and vertical price dynamics in the EU petroleum markets. The results indicate that the cross-country price differentials have significant impact on the local price adjustments. We investigate the cross-national price spill-overs and find that the extent of the welfare transfer due to asymmetric price transmission, when analysed in a cross-country setting, is less pronounced than claimed in previous contributions in this area. We also find empirical evidence, although indirect, for the politically charged concept of 'fuel tourism', using a pan-European cross-product time series dataset. (author)

  3. State energy-price system: 1981 update

    Energy Technology Data Exchange (ETDEWEB)

    Fang, J.M.; Imhoff, K.L.; Hood, L.J.

    1983-08-01

    This report updates the State Energy Price Data System (STEPS) to include state-level energy prices by fuel and by end-use sectors for 1981. Both physical unit prices and Btu prices are presented. Basic documentation of the data base remains generally the same as in the original report: State Energy Price System; Volume 1: Overview and Technical Documentation (DOE/NBB-0029 Volume 1 of 2, November 1982). The present report documents only the changes in procedures necessitated by the update to 1981 and the corrections to the basic documentation.

  4. Imperfect price-reversibility of US gasoline demand: Asymmetric responses to price increases and declines

    International Nuclear Information System (INIS)

    Gately, D.

    1992-01-01

    This paper describes a framework for analyzing the imperfect price-reversibility (hysteresis) of oil demand. The oil demand reductions following the oil price increases of the 1970s will not be completely reversed by the price cuts of the 1980s, nor is it necessarily true that these partial demand reversals themselves will be reversed exactly by future price increases. The author decomposes price into three monotonic series: price increases to maximum historic levels, price cuts, and price recoveries (increases below historic highs). He would expect that the response to price cuts would be no greater than to price recoveries, which in turn would be no greater than for increases in maximum historic price. For evidence of imperfect price-reversibility, he tests econometrically the following US data: vehicle miles per driver, the fuel efficiency of the automobile fleet, and gasoline demand per driver. In each case, the econometric results allow him to reject the hypothesis of perfect price-reversibility. The data show smaller response to price cuts than to price increases. This has dramatic implications for projections of gasoline and oil demand, especially under low-price assumptions. 26 refs., 13 figs., 3 tabs

  5. Marketplace pricing

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    As discussed in this chapter, interest in marketplace pricing has been increasing in recent years, reflecting the societal trend toward substituting competition for regulation where appropriate. Competition is valuable because it encourages utilities to make efficient decisions with a minimum of regulatory intervention. It enhances efficiency through the incentive for innovation by the regulated companies and by increasing the likelihood they will come forward with proposals for better services, lower prices or both. Ultimately, consumers are beneficiaries. Marketplace pricing is emblematic of the view that the degree of regulation should reflect the degree of market power, that workably competitive markets should be allowed to operate with as little regulatory interference as possible. The Edison Electric Institute has made perhaps the most detailed proposal on marketplace pricing. It and others perceive numerous benefits from this method of pricing transmission services. Given the undeniable market power resulting from line ownership, FERC has emphasized the need to find a workably competitive market before approving such proposals. The ability to make this distinction without a full-blown antitrust review for every transaction is questionable, and FERC has yet to provide generic guidance. Finally, FERC's legal ability to depart from cost-based standards is questionable

  6. A simple and rapid method for monitoring dissolved oxygen in water with a submersible microbial fuel cell (SBMFC)

    DEFF Research Database (Denmark)

    Zhang, Yifeng; Angelidaki, Irini

    2012-01-01

    Asubmersiblemicrobial fuel cell (SBMFC) was developed as a biosensor forin situand real time monitoring of dissolvedoxygen (DO) in environmental waters. Domestic wastewater was utilized as sole fuel for powering the sensor. The sensor performance was firstly examined with tap water at varying DO...... the sensing activities. The sensor ability was further explored under different environmental conditions (e.g., pH, temperature, conductivity, alternative electron acceptor), and the results indicated that a calibration would be required before field application. Lastly, the sensor was tested with different...

  7. Hedging electricity price volatility using nuclear power

    International Nuclear Information System (INIS)

    Mari, Carlo

    2014-01-01

    Highlights: • Nuclear power is an important asset to reduce the volatility of electricity prices. • Unpredictability of fossil fuels and carbon prices makes power prices very volatile. • The dynamics of fossil fuels and carbon prices is described by Brownian motions. • LCOE values, volatilities and correlations are obtained via Monte Carlo simulations. • Optimal portfolios of generating technologies are get using a mean–variance approach. - Abstract: The analysis presented in this paper aims to put in some evidence the role of nuclear power as hedging asset against the volatility of electricity prices. The unpredictability of natural gas and coal market prices as well as the uncertainty in environmental policies may affect power generating costs, thus enhancing volatility in electricity market prices. The nuclear option, allowing to generate electricity without carbon emissions, offers the possibility to reduce the volatility of electricity prices through optimal diversification of power generating technologies. This paper provides a methodological scheme to plan well diversified “portfolios” of generating capacity that minimize the electricity price risk induced by random movements of fossil fuels market prices and by unpredictable fluctuations of carbon credits prices. The analysis is developed within a stochastic environment in which the dynamics of fuel prices as well as the dynamics of carbon credits prices is assumed to evolve in time according to well defined Brownian processes. Starting from market data and using Monte Carlo techniques to simulate generating cost values, the hedging argument is developed by selecting optimal portfolio of power generating technologies using a mean–variance approach

  8. Price elasticity of petroleum products in selected African countries

    International Nuclear Information System (INIS)

    Kaul, S.

    1995-01-01

    In this paper, a fundamental understanding of the economic impact which is directly related to the price elasticity of petroleum products in six selected African countries is obtained by using the Jorgorson-Lian model for shares. Each kind of fuel price has a different impact on the share of oil products for the different countries. The price increase of one kind of fuel may increase or decrease the share of another fuel in the total oil products. In the oil importing African countries, the price of one product is relatively inelastic, whereas in the oil producing African countries, the price is elastic. (Author)

  9. Rapid prototyping systems for the development of new fuel-injection concepts for diesel engines; Einspritz-Prototyping-System zur Entwicklung neuer Einspritzkonzepte bei Dieselmotoren

    Energy Technology Data Exchange (ETDEWEB)

    Kasper, M. [ETAS GmbH, Stuttgart (Germany)

    2004-10-01

    The article uses the example of solenoid-based fuel injectors for diesel engines to demonstrate how a combination of reconfigurable logic and microcontrollers may be employed towards the rapid implementation of new control concepts for timely testing either directly on the engine or in the vehicle. Emphasis is given to the development and optimization of electronic engine management components. In contrast to the nonexistent modification options on conventional production ECUs, the new concept allows for the modification and fine-tuning of a number of injection parameters. The rapid prototyping system is a joint development of the Research and Advanced Engineering Department of Robert Bosch GmbH and ETAS GmbH. (orig.)

  10. How Does Pricing of Day-ahead Electricity Market Affect Put Option Pricing?

    Directory of Open Access Journals (Sweden)

    H. Raouf Sheybani

    2016-09-01

    Full Text Available In this paper, impacts of day-ahead market pricing on behavior of producers and consumers in option and day-ahead markets and on option pricing are studied. To this end, two comprehensive equilibrium models for joint put option and day-ahead markets under pay-as-bid and uniform pricing in day-ahead market are presented, respectively. Interaction between put option and day-ahead markets, uncertainty in fuel price, day-ahead market pricing, and elasticity of consumers to strike price, premium price, and day-ahead price are taken into account in these models. By applying the presented models to a test system impact of day-ahead market pricing on equilibrium of joint put option and day-ahead markets are studied.

  11. State energy price and expenditure report 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-06-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The price and expenditure estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1994. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1994, Consumption Estimates (SEDR), published in October 1996. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources. Documentation is included describing the development of price estimates, data sources, and calculation methods. 316 tabs.

  12. State energy price and expenditure report 1994

    International Nuclear Information System (INIS)

    1997-06-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The price and expenditure estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1994. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1994, Consumption Estimates (SEDR), published in October 1996. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources. Documentation is included describing the development of price estimates, data sources, and calculation methods. 316 tabs

  13. Program ELM: A tool for rapid thermal-hydraulic analysis of solid-core nuclear rocket fuel elements

    International Nuclear Information System (INIS)

    Walton, J.T.

    1992-11-01

    This report reviews the state of the art of thermal-hydraulic analysis codes and presents a new code, Program ELM, for analysis of fuel elements. ELM is a concise computational tool for modeling the steady-state thermal-hydraulics of propellant flow through fuel element coolant channels in a nuclear thermal rocket reactor with axial coolant passages. The program was developed as a tool to swiftly evaluate various heat transfer coefficient and friction factor correlations generated for turbulent pipe flow with heat addition which have been used in previous programs. Thus, a consistent comparison of these correlations was performed, as well as a comparison with data from the NRX reactor experiments from the Nuclear Engine for Rocket Vehicle Applications (NERVA) project. This report describes the ELM Program algorithm, input/output, and validation efforts and provides a listing of the code

  14. North American natural gas price outlook

    International Nuclear Information System (INIS)

    Denhardt, R.

    1998-01-01

    Issues regarding future natural gas prices for North America were discussed. Various aspects of the issue including the relationship between storage, weather and prices, received attention. It was noted that strong demand-growth will be needed to support near-term Canadian export increases without price declines. The issue of Gulf Coast production was also discussed. Power generation using natural gas as fuel is expected to support strong growth in the demand for natural gas. tabs., figs

  15. Pricing Carbon Emissions in China

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); T.K. Mai (Te-Ke); M.J. McAleer (Michael)

    2018-01-01

    markdownabstractThe purpose of the paper is to provide a clear mechanism for determining carbon emissions pricing in China as a guide to how carbon emissions might be mitigated to reduce fossil fuel pollution. The Chinese Government has promoted the development of clean energy, including

  16. Nuclear fuel

    International Nuclear Information System (INIS)

    Azevedo, J.B.L. de.

    1980-01-01

    All stages of nuclear fuel cycle are analysed with respect to the present situation and future perspectives of supply and demand of services; the prices and the unitary cost estimation of these stages for the international fuel market are also mentioned. From the world resources and projections of uranium consumption, medium-and long term analyses are made of fuel availability for several strategies of use of different reactor types. Finally, the cost of nuclear fuel in the generation of electric energy is calculated to be used in the energetic planning of the electric sector. (M.A.) [pt

  17. Prices dip on slow demand

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    The Restricted Uranium Spot Market Price Range slipped to $9.90-$10.35, mostly due to lackluster demand. Only three transactions took place during the month. Two of the purchases, accounting for 98% of the month's volume, were by European utilities; the other was made by a US utility. One of the European purchases was made in the unrestricted market, but since it included a host of fuel cycle services, the U3O8 price could not be determined. Hence, NUKEM's Unrestricted Uranium Spot Market Price Range stays the same, at $7.90-$8.00. The other European deal, concluded in the restricted market, represents the low end of the restricted market price range. The US deal was based on bids that were made at the beginning of November and therefore does not reflect market conditions in December. Looking ahead, we see four utilities ready to enter the market for nearly 1 million lbs U3O8 equivalent

  18. Price formation and market mechanisms

    International Nuclear Information System (INIS)

    Neff, T.L.

    1991-01-01

    World markets for nuclear fuel have changed greatly since the 1970s. In earlier days, firms specializing in mining, conversion, enrichment and fabrication negotiated directly with end users, primarily under long term contracts at specified prices. This old model is gone. Market structure has been transformed: traditional suppliers now compete with traders, some of whom can offer a much larger menu of products and terms than primary suppliers. Utilities act as traders, converters as brokers, brokers as traders, producers as buyers, and so on. De-enrichment, de-conversion, loans, swaps, interchanges and other new kinds of transactions have proliferated. These changes in market structure and market mechanisms have been accompanied by substantial changes in price formation, that is the process by which market price is set. Today, the level and direction of price are set in a trading dominated spot market environment, fuelled by inventory liquidation and Soviet and other non-traditional supply. (author)

  19. Electricity prices in the Finnish retail market

    International Nuclear Information System (INIS)

    Lehto, Eero

    2011-01-01

    This study focuses, firstly, on the pricing of electricity in the Finnish retail market. In particular, the impact of the ownership structure on prices is tested empirically. Secondly, the influence of low-cost electricity sources on retail prices is considered. The question about whether the average fuel costs rather than the wholesale price determine the retail prices is thus addressed. The supply side behaviour characterised may explain the passivity of client activity in the seemingly competitive Finnish market. - Research highlights: → Ownership has a strong impact on retail prices in the Finnish electricity market. → Locally owned companies' rates are 5-15 per cent lower than investor owned companies' rates. → Own low cost acquisition of electricity helps local firms to keep prices at low levels.

  20. Canadian natural gas price forecast

    International Nuclear Information System (INIS)

    Jones, D.

    1998-01-01

    The basic factors that influenced NYMEX gas prices during the winter of 1997/1998 - warm temperatures, low fuel prices, new production in the Gulf of Mexico, and the fact that forecasters had predicted a mild spring due to El Nino - were reviewed. However, it was noted that for the last 18 months the basic factors had less of an impact on market direction because of an increase in Fund and technical trader participation. Overall, gas prices were strong through most of the year. For the winter of 1998-1999 the prediction was that NYMEX gas prices will remain below $2.00 through to the end of October 1998 because of high U.S. storage levels and moderate temperatures. NYMEX gas prices are expected to peak in January 1999 at $3.25. AECO natural gas prices were predicted to decrease in the short term because of increasing levels of Canadian storage, and because of delays in Northern Border pipeline expansions. It was also predicted that AECO prices will peak in January 1999 and will remain relatively strong through the summer of 1999. tabs., figs

  1. Objective and subjective measures of fuel poverty

    International Nuclear Information System (INIS)

    Waddams Price, Catherine; Brazier, Karl; Wang, Wenjia

    2012-01-01

    As energy prices continue to rise to reflect the real cost of carbon, the numbers of households in fuel poverty is increasing rapidly. This paper uses a unique data set to explore one alternative measure of fuel poverty based on whether consumers feel able to afford their energy, similar to one introduced by the government a few years ago. We explore the links between an expenditure based and our subjective measure of fuel poverty and compare these differences with those between official measures. Amongst low income households, 28% spent more than a tenth of their income on energy in the home, and so would be likely to qualify as fuel poor under the most usual definition; but only 16% felt unable to afford sufficient energy to keep their homes warm. Amongst this group who felt they had difficulty in affording sufficient energy, less than half were ‘expenditure’ fuel poor. The paper argues that reintroduction of a self-reported measure by the government would be a valuable aid to policy development. - Highlights: ► Defines a subjective measure of fuel poverty (unable to afford heating). ► Fewer households feel fuel poor than meet the official definition of fuel poverty. ► Though they are positively related, different factors affect the two measures. ► Those on standard and prepayment metres more likely to feel fuel poor. ► Large families spend a higher proportion of income on energy but are no more likely to feel fuel poor.

  2. Biofuels versus food production: Does biofuels production increase food prices?

    International Nuclear Information System (INIS)

    Ajanovic, Amela

    2011-01-01

    Rapidly growing fossil energy consumption in the transport sector in the last two centuries caused problems such as increasing greenhouse gas emissions, growing energy dependency and supply insecurity. One approach to solve these problems could be to increase the use of biofuels. Preferred feedstocks for current 1st generation biofuels production are corn, wheat, sugarcane, soybean, rapeseed and sunflowers. The major problem is that these feedstocks are also used for food and feed production. The core objective of this paper is to investigate whether the recent increase of biofuels production had a significant impact on the development of agricultural commodity (feedstock) prices. The most important impact factors like biofuels production, land use, yields, feedstock and crude oil prices are analysed. The major conclusions of this analysis are: In recent years the share of bioenergy-based fuels has increased moderately, but continuously, and so did feedstock production, as well as yields. So far, no significant impact of biofuels production on feedstock prices can be observed. Hence, a co-existence of biofuel and food production seems possible especially for 2nd generation biofuels. However, sustainability criteria should be seriously considered. But even if all crops, forests and grasslands currently not used were used for biofuels production it would be impossible to substitute all fossil fuels used today in transport.

  3. Prices high, tensions ease and a new OPEC is formed

    International Nuclear Information System (INIS)

    Anon

    2006-01-01

    Crude oil prices rose on news that BP was to shut-in its 400,000 bpd Prudhoe Bay field, following the discovery of corrosion in a pipeline serving the field. Dated BFO went to a record high of $78.72/bbl on 8th August. Speculation that refiners on the US West Coast would seek to replace the lost Alaska North Slope crude with supplies from the Asia/Pacific region caused prices to rise there as well. US crude prices were rather less affected than elsewhere by events in Alaska as it rapidly became clear that stock levels were sufficient to deal with any loss of production. It also emerged that BP was able to keep about half of Prudhoe Bay in production. By that time, however, oil markets had latched on to an entirely different source of worry. The announcement in London that police had uncovered a plot to blow-up aeroplanes crossing the Atlantic led to concerns of a sharp fall in passenger travel. Traders were not simply worried about the effect of this on the demand for jet fuel, but expressed concerns of a more general loss of business confidence across the world. Fears over a fall in jet fuel consumption did not appear to have spread to Singapore, where jet kerosine traded at an all-time high of $91.75/bbl early in August. (author)

  4. Oil price prospects

    International Nuclear Information System (INIS)

    Toalster, J.

    1992-01-01

    In this paper, four different, popular approaches to the analysis of oil price movements will be considered and an alternative method will be proposed. Whilst we await the development of a rigorous theoretical framework within which to evaluate the phenomenon of oil price movements some progress may be effected by an amalgam of approaches, with the traditional supply and demand model being supplemented by observations regarding political and social developments in particular countries or regions, together with an assessment of emerging and prospective technological achievements. In this way it should be possible to identify the critical influences at work, from which it should also be possible to select either the single most important variable or combination of variables, affecting the oil price. Moreover, it is my belief that the crucial variables influencing the oil price almost certainly, are more likely to be political and social, rather than economic. In this context and notwithstanding the fact that there is only a minimal level of surplus productive capacity in the world oil industry at present (perhaps 1-2 million b/d albeit rising rapidly), it is reasonable to conclude that oil prices will average around $18-19 a barrel for North Sea Brent in 1992 and 1993, with oscillations of $2-4 a barrel either side, rising slightly in 1994 to $19-20 a barrel and to $20-21 a barrel in 1995. Thereafter, the most likely outcome is for a rise in line with inflation (say $ a barrel/annum) with no prospect of an upward spike, because demand will be weaker than most commentators expect up to the year 2000, whilst OPEC oil supplies will be substantially higher than the consensus forecast. (author)

  5. The Role of Nuclear Power in Reducing Risk of the Fossil Fuel Prices and Diversity of Electricity Generation in Tunisia: A Portfolio Approach

    Science.gov (United States)

    Abdelhamid, Mohamed Ben; Aloui, Chaker; Chaton, Corinne; Souissi, Jomâa

    2010-04-01

    This paper applies real options and mean-variance portfolio theories to analyze the electricity generation planning into presence of nuclear power plant for the Tunisian case. First, we analyze the choice between fossil fuel and nuclear production. A dynamic model is presented to illustrate the impact of fossil fuel cost uncertainty on the optimal timing to switch from gas to nuclear. Next, we use the portfolio theory to manage risk of the electricity generation portfolio and to determine the optimal fuel mix with the nuclear alternative. Based on portfolio theory, the results show that there is other optimal mix than the mix fixed for the Tunisian mix for the horizon 2010-2020, with lower cost for the same risk degree. In the presence of nuclear technology, we found that the optimal generating portfolio must include 13% of nuclear power technology share.

  6. Price of forest chips decreasing

    International Nuclear Information System (INIS)

    Hakkila, P.

    2001-01-01

    Use of forest chips was studied in 1999 in the national Puuenergia (Wood Energy) research program. Wood combusting heating plants were questioned about are the main reasons restricting the increment of the use of forest chips. Heating plants, which did not use forest chips at all or which used less than 250 m 3 (625 bulk- m 3 ) in 1999 were excluded. The main restrictions for additional use of forest chips were: too high price of forest chips; lack of suppliers and/or uncertainty of deliveries; technical problems of reception and processing of forest chips; insufficiency of boiler output especially in winter; and unsatisfactory quality of chips. The price of forest chips becomes relatively high because wood biomass used for production of forest chips has to be collected from wide area. Heavy equipment has to be used even though small fragments of wood are processed, which increases the price of chips. It is essential for forest chips that the costs can be pressed down because competition with fossil fuels, peat and industrial wood residues is hard. Low market price leads to the situation in which forest owner gets no price of the raw material, the entrepreneurs operate at the limit of profitability and renovation of machinery is difficult, and forest chips suppliers have to sell the chips at prime costs. Price of forest chips has decreased significantly during the past decade. Nominal price of forest chips is now lower than two decades ago. The real price of chips has decreased even more than the nominal price, 35% during the past decade and 20% during the last five years. Chips, made of small diameter wood, are expensive because the price includes the felling costs and harvesting is carried out at thinning lots. Price is especially high if chips are made of delimbed small diameter wood due to increased the work and reduced amount of chips. The price of logging residue chips is most profitable because cutting does not cause additional costs. Recovery of chips is

  7. World oil demand's shift toward faster growing and less price-responsive products and regions

    International Nuclear Information System (INIS)

    Dargay, Joyce M.; Gately, Dermot

    2010-01-01

    Using data for 1971-2008, we estimate the effects of changes in price and income on world oil demand, disaggregated by product - transport oil, fuel oil (residual and heating oil), and other oil - for six groups of countries. Most of the demand reductions since 1973-74 were due to fuel-switching away from fuel oil, especially in the OECD; in addition, the collapse of the Former Soviet Union (FSU) reduced their oil consumption substantially. Demand for transport and other oil was much less price-responsive, and has grown almost as rapidly as income, especially outside the OECD and FSU. World oil demand has shifted toward products and regions that are faster growing and less price-responsive. In contrast to projections to 2030 of declining per-capita demand for the world as a whole - by the U.S. Department of Energy (DOE), International Energy Agency (IEA) and OPEC - we project modest growth. Our projections for total world demand in 2030 are at least 20% higher than projections by those three institutions, using similar assumptions about income growth and oil prices, because we project rest-of-world growth that is consistent with historical patterns, in contrast to the dramatic slowdowns which they project. (author)

  8. Full tanks - empty plates. The price for agrian fuels. Hunger, expulsion, environmental destruction; Volle Tanks - leere Teller. Der Preis fuer Agrokraftstoffe. Hunger, Vertreibung, Umweltzerstoerung

    Energy Technology Data Exchange (ETDEWEB)

    Hees, W.; Mueller, O.; Schueth, M. (eds.)

    2007-07-01

    With the cereals, which is needed in order to fill a 100-Liter-tank of a jeep, one person can be nourished one year. Whether it ethically is justified to convert food into fuel, is one of the questions, which is discussed in the book under consideration. The agro fuels forced by the European Community and the U.S.A. have given rise to a gold-digger spirit in the agrarian industry. This also is applied to the Third World, where presently plantations of gigantic extent develop. The consequences are disastrous: loss of biodiversity, heating up of the world climate and hunger.

  9. Flex cars and the alcohol price

    International Nuclear Information System (INIS)

    Ferreira, Alex Luiz; Da Silveira, Jaylson Jair; De Almeida Prado, Fernando Pigeard

    2009-01-01

    We build a model that incorporates the effect of the innovative 'flex' car, an automobile that is able to run with either gasoline or alcohol, on the dynamics of fuel prices in Brazil. Our model shows that differences regarding fuel prices will now depend on the proportions of alcohol, gasoline and flex cars in the total stock. Conversely, the demand for each type of car will also depend on the expected future prices of alcohol and gasoline (in addition to the car prices). The model reflects our findings that energy prices are tied in the long run and that causality runs stronger from gasoline to alcohol. The estimated error correction parameter is stable, implying that the speed of adjustment towards equilibrium remains unchanged. The latter result is probably due to a still small fraction of flex cars in the total stock (approx. 5%), despite the fact that its sales nearly reached 100% in 2006. (author)

  10. Incorporating the value of changes in price volatility into cost-benefit analysis-an application to oil prices in the transport sector

    DEFF Research Database (Denmark)

    Jensen, Thomas Christian; Møller, Flemming

    2010-01-01

    in the policy assessment taking into account the most significant correlations between prices of alternative fuels and between fuel prices and consumption in general. In the present paper, a method of valuing changes in price volatility based on portfolio theory is applied to some very simple transport...

  11. Determination of the exposition rapidity in the level 49.90 of the reactor building for the decrease in the water level of the spent fuel pool

    International Nuclear Information System (INIS)

    Mijangos D, Z. E.; Herrera H, S. F.; Cruz G, M. A.; Amador C, C.

    2014-10-01

    The fuel assemblies storage in the nuclear power plant of Laguna Verde (NPP-L V) represents a crucial aspect, due to the generated dose by the decay heat of the present radio-nuclides in the assemblies retired of the reactor core, after their useful life. These spent assemblies are located inside the spent fuel pool (SFP), in the level 49.90 m in the Reload Floor of the Reactor building of NPP-L V. This leads to the protection at personnel applying the ALARA (As Low As Reasonably Achievable) criteria, fulfilling the established dose criteria by the Regulator Body the Comision Nacional de Seguridad Nuclear y Salvaguardias (CNSNS). Considering the loss scenario of the cooling system of the SFP, in which the SFP water vaporizes, is important to know the water level in which the limit of effective dose equivalent is fulfilled for the personnel. Also, is important for the instrumentation of the SFP, for the useful life of the same instruments. In this work is obtained the exposition rapidity corresponding to different water levels of SFP in the Reload Floor of NPP-L V, to identify the minimum level of water where the limit of effective dose equivalent is fulfilled of 25 rem s to the personnel, established in the Article 48 of the General Regulation of Radiological Safety of CNSNS and the Chapter 50 Section 67 of the 10-Cfr of Nuclear Regulatory Commission in USA. The water level is also identified where the exposition rapidity is of 15 m R/hr, being the value of the set point of the area radiation monitor D21-Re-N003-1, located to 125 cm over the level 49.90 meters of the Reload Floor of NPP-L V. (Author)

  12. Transport fuel

    DEFF Research Database (Denmark)

    Ronsse, Frederik; Jørgensen, Henning; Schüßler, Ingmar

    2014-01-01

    Worldwide, the use of transport fuel derived from biomass increased four-fold between 2003 and 2012. Mainly based on food resources, these conventional biofuels did not achieve the expected emission savings and contributed to higher prices for food commod - ities, especially maize and oilseeds...

  13. What Factors Affect the Prices of Low-Priced U.S. Solar PV Systems?

    Energy Technology Data Exchange (ETDEWEB)

    Nemet, Gregory F. [Univ. of Wisconsin, Madison, WI (United States); Mercator Research Inst. on Global Commons and Climate Change, Berlin (Germany); O' Shaughnessy, Eric [National Renewable Energy Lab. (NREL), Golden, CO (United States); Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Darghouth, Naïm R. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Gillingham, Ken [Yale Univ., New Haven, CT (United States); Rai, Varun [Univ. of Texas, Austin, TX (United States)

    2016-08-01

    The price of solar PV systems has declined rapidly, yet there are some much lower-priced systems than others. This study explores the factors leading some systems to be so much lower priced than others. Using a data set of 42,611 residential-scale PV systems installed in the U.S. in 2013, we use quantile regressions to estimate the importance of factors affecting the installed prices for low-priced (LP) systems (those at the 10th percentile) in comparison to median-priced systems. We find that the value of solar to consumers–a variable that accounts for subsidies, electric rates, and PV generation levels–is associated with lower prices for LP systems but higher prices for median priced systems. Conversely, systems installed in new home construction are associated with lower prices at the median but higher prices for LP. Other variables have larger cost-reducing effects on LP than on median priced systems: systems installed in Arizona and Florida, as well as commercial and thin film systems. In contrast, the following have a smaller effect on prices for LP systems than median priced systems: tracking systems, self-installations, systems installed in Massachusetts, the system size, and installer experience. These results highlight the complex factors at play that lead to LP systems and shed light into how such LP systems can come about.

  14. Fuel gases in Algeria

    International Nuclear Information System (INIS)

    Arachiche, B.; Elandaloussi, H.

    1996-01-01

    For a country like Algeria, fuel gases represent an important economical challenge. To answer the increasing energy demand in the transportation sector, the use of fuel gases allows to preserve the petroleum reserves and to create specific industrial structures devoted to LPG-f (liquefied petroleum gas-fuel) and NGV (natural gas for vehicles). This paper presents the energy policy of Algeria, its reserves, production, and exportations of hydrocarbons and the internal rational use of energy sources according to its economic and environmental policy and to its internal needs. The energy consumption of Algeria in the transportation sector represents 2/3 of the petroleum products consumed in the internal market and follows a rapid increase necessary to the socio-economic development of the country. The Algerian experience in fuel gases is analysed according to the results of two successive experimentation periods for the development of NGV before and after 1994, and the resulting transportation and distribution network is described. The development of LPG-f has followed also an experimental phase for the preparation of regulation texts and a first statement of the vehicles conversion to LPG-f is drawn with its perspectives of development according to future market and prices evolutions. (J.S.)

  15. Recent Global Food Price Shocks: Causes, Consequences and Lessons for African Governments and Donors-super- †

    OpenAIRE

    Philip Abbott; Adeline Borot de Battisti

    2011-01-01

    Dramatic increases in international agricultural commodity prices began in 2006 and peaked in July 2008. An equally remarkable and rapid decline of those prices then ensued, accompanied by extreme volatility in those prices. The trend in food prices lagged the rapid increases in other commodity prices, including oil and metals, but accompanied those other prices in the downward part of the cycle. Not all agricultural commodities increased to the same extent—grains and oilseed prices increased...

  16. Are standards effective in improving automobile fuel economy? An international panel analysis

    International Nuclear Information System (INIS)

    Clerides, Sofronis; Zachariadis, Theodoros

    2007-01-01

    Although the adoption of fuel economy standards has induced fuel savings in new motor vehicles, there are arguments against standards and in favour of fuel tax increases because the latter may have lower welfare costs. We therefore attempted to analyze the impact of standards and fuel prices in the fuel consumption of new cars with the aid of cross-section time series analysis of data from 18 countries. To our knowledge, this study is the first one that attempts to explore econometrically this issue at an international level. We built an unbalanced panel comprising 384 observations from the US, Canada, Australia, Japan, Switzerland and 13 EU countries spanning a period between 1975 and 2003. We specified a dynamic panel model of fuel economy and estimated the model for the whole sample and also for North America and Europe separately. Based on these estimates, we derived three important policy conclusions. Firstly, it seems that if there were no FE standards or voluntary targets in force, transportation energy use would increase more rapidly. Secondly, if CO 2 targets are not to be tightened in Europe, retail fuel prices might have to double in order to attain the currently discussed target of 120 g CO 2 /km in the future. Thirdly, without higher fuel prices and/or tighter FE standards, one should not expect any marked improvements in fuel economy under 'business as usual' conditions. European policy makers might need to consider this issue carefully because some recent European studies tend to be optimistic in this respect

  17. Understanding gasoline pricing in Canada

    International Nuclear Information System (INIS)

    Anon.

    2001-01-01

    Pricing policies for gasoline by Canadian oil companies are discussed. An attempt is made to demonstrate that competition between oil companies is extremely keen, and markups are so small that to stay in business, retail outlets have to sell huge volumes and sell non-fuel products, as a means to increase revenues and margins. An explanation is provided for why gasoline prices move in unison, and why what appears to the public as collusion and gouging is, in fact, the result of retail dealers attempting to stay in business. The high prices are attributed mainly to taxes by municipalities, the provinces and the federal government; taxes are said to account for 40 to 50 per cent of the pump price. The cost of crude makes up another 35 to 45 per cent, refining adds 10 to 15 per cent, with the remaining 5 to 10 per cent representing retail costs. (Taxes in the United States average 20 to 30 per cent). Over the longer term, gasoline prices consistently reflect the cost of crude oil, dominated by the OPEC countries which supply about 41 per cent of daily world production. Another factor is the rise of global and regional commodity markets for refined products such as gasoline. Commodity traders buy wholesale gasoline cheaply whenever it is in oversupply, and sell it for a profit into markets where the demand is greater. While this is claimed to ensure competitive prices in all markets, the practice can also trigger abrupt changes in regional markets

  18. Nuclear fuel cycle

    International Nuclear Information System (INIS)

    1993-01-01

    Status of different nuclear fuel cycle phases in 1992 is discussed including the following issues: uranium exploration, resources, supply and demand, production, market prices, conversion, enrichment; reactor fuel technology; spent fuel management, as well as trends of these phases development up to the year 2010. 10 refs, 11 figs, 15 tabs

  19. Cost and prices of electricity. Fossil fuels, nuclear power and renewable energy sources in comparison; Kosten und Preise fuer Strom. Fossile, Atomstrom und Erneuerbare Energien im Vergleich

    Energy Technology Data Exchange (ETDEWEB)

    Muehlenhoff, Joerg

    2011-09-15

    Consumers of electricity pay for production, transport and distribution as well as for taxes and dues. Electricity rates depend on various influencing factors, e.g. different fuel and capital cost of the power plants and the ratio of supply and demand in the electricity stock markets. End user electricity rats also include taxes and dues as well as the cost of power transmission. The publication presents background information on the formation of electricity rates in Germany. In a second step, the different cost factors of fossil fuels, nuclear power and renewable energy sources are compared. In particular, the external cost is gone into which often tends to be neglected in the electricity markets.

  20. Modeling the relationship between the oil price and global food prices

    International Nuclear Information System (INIS)

    Chen, Sheng-Tung; Kuo, Hsiao-I; Chen, Chi-Chung

    2010-01-01

    The growth of corn-based ethanol production and soybean-based bio-diesel production following the increase in the oil prices have significantly affect the world agricultural grain productions and its prices. The main purpose of this paper is to investigate the relationships between the crude oil price and the global grain prices for corn, soybean, and wheat. The empirical results show that the change in each grain price is significantly influenced by the changes in the crude oil price and other grain prices during the period extending from the 3rd week in 2005 to the 20th week in 2008 which implies that grain commodities are competing with the derived demand for bio-fuels by using soybean or corn to produce ethanol or bio-diesel during the period of higher crude oil prices in these recent years. The subsidy policies in relation to the bio-fuel industries in some nations engaging in bio-fuel production should be considered to avoid the consequences resulting from high oil prices. (author)

  1. Energy prices and taxes

    International Nuclear Information System (INIS)

    2004-01-01

    Energy Prices and Taxes contains a major international compilation of energy prices at all market levels: import prices, industry prices and consumer prices. The statistics cover main petroleum products, gas, coal and electricity, giving for imported products an average price both for importing country and country of origin. Every issue includes full notes on sources and methods and a description of price mechanisms in each country

  2. MARKET ECONOMICS PRICING PARTICULARS

    Directory of Open Access Journals (Sweden)

    V. I. Parshin

    2011-01-01

    Full Text Available The price performs several economic functions: accounting, stimulation, distribution, demand and offer balancing, serving as production site rational choice criterion, information. Most important pricing principles are: price scientific and purpose-aimed substantiation, single pricing and price control process. Pricing process factors are external, internal, basic (independent on money-market, market-determined and controlling. Different pricing methods and models are to be examined, recommendations on practical application of those chosen are to be written.

  3. A propane price spike nails users

    International Nuclear Information System (INIS)

    Milke, M.

    1997-01-01

    The increase in price for propane was discussed. In 1993, propane cost about 5 cents per litre; by December 1996, the price has risen to 27 cents wholesale, while retail prices for auto propane reached 40 cents per litre. As a result, farmers and fleet operators are considering switching to an alternative energy supply. The five factors which may have played a role in the propane price spike were described. These included a cold winter which lowered inventories, a Pemex gas plant in Mexico which had been damaged by fire, forcing Mexico to import natural gas and natural gas liquids from the USA, the failure of propane distributors to restock during the summer months in the hope of lower prices, and increased cost of competing fuels in the face of increased demand. It was noted that these factors are transitory, which could mean better prices this summer

  4. Price Comovement Between Biodiesel and Natural Gas

    OpenAIRE

    Janda, Karel; Kourilek, Jakub

    2016-01-01

    We study relationship between biodiesel, as a most important biofuel in the EU, relevant feedstock commodities and fossil fuels. Our main interest is to capture relationship between biodiesel and natural gas. They are both used either directly as a fuel or indirectly in form of additives in transport. Therefore, our purpose is to �nd price linkage between biofuel and natural gas to support or reject the claim that they compete as alternative fuels and potential substitutes. The estimated p...

  5. Wholesale pricing policies for energy in developing countries

    International Nuclear Information System (INIS)

    de Lucia, R. J.

    1990-01-01

    This chapter focuses on wholesale pricing policies with particular emphasis on domestic fuels. There are several characteristics of the supply system that affect wholesale pricing: Source of the fuel (imported or domestic); Characteristics of the fuel (tradable or non-tradable); Nature of the supply companies (public or private and, if private, local or multinational); and stage of development of the resource. Each of these characteristics has implications for how the components of the efficient wholesale price of fuels are determined. (author). 13 refs., 3 figs., 5 tabs

  6. The Impact of Oil Prices on Irish Inflation

    OpenAIRE

    O'Brien, Derry; Weymes, Laura

    2010-01-01

    Oil prices have been characterised by large fluctuations in recent years. Strong volatility in oil prices has important implications for the Irish economy as Ireland has a relatively poor fuel endowment and relies heavily on imported oil. Energy price increases have been one of the principal drivers behind HICP inflation rates in Ireland in recent years. This article highlights the distinctive features of the Irish energy market which render the impact of oil price changes on Irish inflation ...

  7. Explaining European Emission Allowance Price Dynamics: Evidence from Phase II

    OpenAIRE

    Wilfried Rickels; Dennis Görlich; Gerrit Oberst

    2010-01-01

    In 2005, the European Emission Trading Scheme (EU-ETS) established a new commodity: the right to emit a ton of CO2 (EUA). Since its launch, the corresponding price has shown rather turbulent dynamics, including nervous reactions to policy announcements and a price collapse after a visible over-allocation in Phase I. As a consequence, the question whether fundamental factors (fossil fuel prices, economic activity, weather) affect the EUA price remained partially unresolved. Today, being halfwa...

  8. The price of natural gas

    International Nuclear Information System (INIS)

    Bakhtiari, A.M.S.

    2001-01-01

    Natural gas used to be a relatively cheap primary energy source, always at a discount to crude oil (on a comparative British thermal unit basis). It gradually evolved into a major resource during the 20th century - reaching a 24 per cent share of global primary energy in 1999. In the year 2000, natural gas prices in the USA rose to unheard-of highs of 10/million US dollars Btu, ushering in a new era, with natural gas at a 120 per cent premium to crude oil. This clearly was a watershed for gas, somehow similar to the 1973-74 watershed for oil prices. And similarly, any return to the status quo-ante looks rather improbable, although a number of experts (alongside the International Energy Agency) still believe the 2000 price 'spike' to have been ''only transitory''. The consequences of higher gas prices (at a level equal to crude oil prices on a Btu basis) will be multifaceted and momentous, altering habits and uses in downstream industries and economic sectors, as well as providing added income for major gas-exporters, such as Russia, Canada and Algeria. Another potential consequence of the 2000 watershed might be to propel US standard prices (such as the 'Henry Hub' spot) to international status and gas price-setter, as the 'WTI spot' became an 'international benchmark' for crude oils in the post-1993 era. For the time being, the equality of gas and oil prices has become the new norm; but, in the longer term, a discount of crude oil relative to natural gas might be envisaged, as the latter is a cleaner fuel and emits less carbon dioxide when used. (author)

  9. Economic analysis of coal price-electricity price adjustment in China based on the CGE model

    International Nuclear Information System (INIS)

    He, Y.X.; Zhang, S.L.; Yang, L.Y.; Wang, Y.J.; Wang, J.

    2010-01-01

    In recent years, coal price has risen rapidly, which has also brought a sharp increase in the expenditures of thermal power plants in China. Meantime, the power production price and power retail price have not been adjusted accordingly and a large number of thermal power plants have incurred losses. The power industry is a key industry in the national economy. As such, a thorough analysis and evaluation of the economic influence of the electricity price should be conducted before electricity price adjustment is carried out. This paper analyses the influence of coal price adjustment on the electric power industry, and the influence of electricity price adjustment on the macroeconomy in China based on computable general equilibrium models. The conclusions are as follows: (1) a coal price increase causes a rise in the cost of the electric power industry, but the influence gradually descends with increase in coal price; and (2) an electricity price increase has an adverse influence on the total output, Gross Domestic Product (GDP), and the Consumer Price Index (CPI). Electricity price increases have a contractionary effect on economic development and, consequently, electricity price policy making must consequently consider all factors to minimize their adverse influence.

  10. Does energy-price regulation benefit China's economy and environment? Evidence from energy-price distortions

    International Nuclear Information System (INIS)

    Ju, Keyi; Su, Bin; Zhou, Dequn; Wu, Junmin

    2017-01-01

    China's energy prices have long been regulated due to the critical role energy plays in economic growth and social development, which leads to energy-price distortion to some extent. To figure out whether energy-price regulations will benefit China's economy (measured by GDP growth) and environment (measured by carbon emissions), we conducted an in-depth simulation using path analysis, where five energy products (natural gas, gasoline, fuel oil, steam coal, and coking coal) are selected and three measurements (absolute, relative, and moving) of energy-price distortions are calculated. The results indicate that, with a series of energy pricing policies, the price distortion for a single type of energy has gradually transformed, while the energy pricing system in China is not fully market-oriented yet. Furthermore, China's economy benefits from relative and moving distortions, while the absolute distortions of energy prices have negative impacts on economic growth. Finally, with regard to the environment, carbon emissions call for fewer distortions. - Highlights: • Price distortion for a single type of energy has gradually transformed. • Energy pricing system in China is not yet fully market-oriented. • China's economy benefits from relative and moving distortions. • Absolute distortions of energy prices have negative effects on economic growth. • Carbon emissions call for less pricing distortions.

  11. Energy prices and agricultural commodity prices: Testing correlation using copulas method

    International Nuclear Information System (INIS)

    Koirala, Krishna H.; Mishra, Ashok K.; D'Antoni, Jeremy M.; Mehlhorn, Joey E.

    2015-01-01

    The linear relationships between energy prices and prices for agricultural commodities such as corn and soybeans may have been affected, over the last several years, by policy legislations in the farm sector, the Energy Independence and Security Act of 2007, and the Renewable Fuel Standard Program for 2014. Using high-frequency data and newer methodology, this study investigates dependence between agricultural commodity futures prices and energy futures prices. Results reveal that agricultural commodity and energy future prices are highly correlated and exhibit positive and significant relationship. Findings from this study highlight that an increase in energy price increases the price of agricultural commodities. - Highlights: • Energy policy mandates production of 15 billion gallons of corn ethanol by 2015. • Energy-intensive agriculture has a link between energy sector and crop production costs. • We investigate correlation between energy prices and agricultural commodity prices. • Agricultural commodity and energy future prices are highly correlated. • Increase in energy price increases the price of agricultural commodity

  12. Petroleum’s Price Transmission and Imported Demand for Crude Oil in Thailand

    OpenAIRE

    Papusson Chaiwat; Nantarat Tangvitoontham

    2014-01-01

    The study of the petroleum price structures in Thailand reveals that diesel is the important fuel because it influences inflation and productions’ costs. Government wants to keep diesel’s price stability; meanwhile, it is less control in gasohol and petrol prices. These prices are normally higher than diesel’s price in order to support the renewable energy and reduce the consumption behaviors. Real price elasticity of imported crude oil in short run is insignificant but in long run is about 0...

  13. Dating breaks for global crude oil prices and their volatility : a possible price band for global crude prices

    International Nuclear Information System (INIS)

    Liao, H.C.; Suen, Y.B.

    2006-01-01

    Global oil prices are among the most visible of all historical commodity records. This paper presented and applied the multiple structural change method developed by Baie and Perron (BP) to investigate daily West Texas Intermediate (WTI) spot prices from January 2, 1986 to December 30, 2004 as collected by the United States Department of Energy. In particular, the BP statistical method was used to estimate the number and location of structural breaks in global oil price series and their volatility. The objective was to precisely determine the exact structural break in the global oil market. The breaks for both the price of oil and its volatility were successfully located and dated. It was shown that the break for the structural change in oil prices occurred on November 12, 1999, where the average oil price was U$19.02 per barrel previously, and U$30.90 afterwards. Two breaks for oil price volatility were also found, the first in March 1991 and the other in December 1995. The volatility was measured in 3 regimes by dividing these 2 breaks. It was suggested that since oil prices increased more rapidly during the second half of 2004 and 2005, it is possible that another structural break may be found during this period. However, it wa cautioned that it is difficult to find another significant break until more data becomes available, particularly for periods characterized by a rapid increase in price. 24 refs., 5 tabs., 2 figs

  14. The pricing of natural gas in US markets

    International Nuclear Information System (INIS)

    Brown, S.P.A.; Yucel, M.K.

    1993-01-01

    Our econometric evidence indicates that changes in natural gas prices are unequal in the long run. Nonetheless, all downstream prices change by at least as much as the average well-head price. Statistically, residential and commercial prices change as much as the city gate price. In the face of persistent shocks, however, market institutions and market dynamics can lead to lengthy periods in which the residential and commercial prices of natural gas adjust less than the wellhead or city gate prices. Electrical and industrial users of natural gas rely heavily on spot supplies and can switch fuels easily. Their ability to switch fuels may be related to the development of a spot market to serve them. Reliance on the spot market may explain why these end users have seen a greater reduction in natural gas prices than have the LDCs over the past seven years. The ability to switch fuels may account for electrical and industrial prices being the source of shocks in their relationships with the wellhead price. It also may explain why prices in these end-sue markets are quick to adjust. Commercial and residential customers cannot switch fuels easily and rely heavily on LDCs for their natural gas. The inability of these end users to switch fuels probably contributes to the reluctance of LDCs to purchase spot supplies of gas. Reliance on contract supplies may explain why the city gate price has not declined as much as electrical and industrial prices of natural gas over the past seven years. Furthermore, the LDCs administer prices in the commercial and residential markets under state regulation

  15. The Potential of Turboprops to Reduce Aviation Fuel Consumption

    OpenAIRE

    Smirti, Megan; Hansen, Mark

    2009-01-01

    Aviation system planning, particularly fleet selection and adoption, is challenged by fuel price uncertainty. Fuel price uncertainty is due fuel and energy price fluctuations and a growing awareness of the environmental externalities related to transportation activities, particularly as they relate to climate change. To assist in aviation systems planning under such fuel price uncertainty and environmental regulation, this study takes a total logistic cost approach and evaluates three represe...

  16. The crucial relationship among energy commodity prices: Evidence from the Spanish electricity market

    International Nuclear Information System (INIS)

    Moutinho, Victor; Vieira, Joel; Carrizo Moreira, Antonio

    2011-01-01

    The main purpose of this article is twofold to analyze: (a) the long-term relation among the commodities prices and between spot electricity market price and commodity prices, and (b) the short-term dynamics among commodity prices and between electricity prices and commodity prices. Data between 2002 and 2005 from the Spanish electricity market was used. Econometric methods were used in the analysis of the commodity spot price, namely the vector autoregression model, the vector error correction model and the granger causality test. The co-integration approach was used to analyze the long-term relationship between the common stochastic trends of four fossil fuel prices. One of the findings in the long-term relation is that the prices of fuel and the prices of Brent are intertwined, though the prices of Brent ten to 'move' to reestablish the price equilibrium. Another finding is that the price of electricity is explained by the evolution of the natural gas series. - Highlights: → We model energy commodity prices in the Spanish electricity market. → We examine the short and long-term relationships among commodities prices. → We examine short and long-term relationships using co-integration techniques. → We found that in the long run the prices of fuel and Brent are intertwined. → The evolution of price of electricity is explained by the evolution of price of gas.

  17. Economic populism, partial deregulation of transport fuels and electoral outcomes in India

    International Nuclear Information System (INIS)

    Srinivasan, Sunderasan

    2014-01-01

    The Indian political class is known to employ populist, albeit economically unsustainable, measures to replace intrinsic ‘valence’, especially shortly prior to election windows. Such measures include loan-waivers, interest rate concessions, provision of free electricity for agriculturists, etc. The union government’s leverage to maneuver and to micro-manage retail fuel prices within partially deregulated environments is hypothesized to provide incumbents with an advantage over rival contestants in the electoral process. This paper analyzes the evolution in the retail prices of diesel and petrol (gasoline), and the transfer of such evolution, into the inflation index of the ‘all commodity’ basket. It is observed that when international benchmark prices are relatively low and domestic inflation is moderate, the transfer occurs within about 42 weeks. During periods of high oil prices-frequently above USD 100 a barrel-and high inflation-higher than 5.00–5.50%-prices of petroleum distillates tend to feed into overall inflation more rapidly, within about 34–40 weeks. The study, covering a total of 82 elections for the central and state (provincial) governments during the period 2000 to 2013, concludes that even as patterns of manipulation of prices are apparent, ceteris paribus, such leverage does not necessarily seem to translate into favorable electoral outcomes. This conclusion reiterates observations that economic im/prudence may not necessarily determine electoral outcomes, and that the basis for electoral choices made by the Indian voter–consumer remains subjective. - Highlights: • Incumbent politicians’ influence on fuel pricing. • Fuel prices manipulated and increases delayed until after elections. • Price reductions brought forward. • ex ante Inflation expectations of voter–consumers. • Electoral outcomes. • Price manipulation found irrelevant to electoral performance

  18. Trends in College Pricing, 2016. Trends in Higher Education Series

    Science.gov (United States)

    Ma, Jennifer; Baum, Sandy; Pender, Matea; Welch, Meredith

    2016-01-01

    In 2016-17, published tuition and fee prices rose slightly less than the year before. The rapid price growth observed during the Great Recession has abated, as typically happens when the economy recovers, but the rate of increase in tuition and fees continues to exceed inflation. More notable, however, is the pattern of the net prices students…

  19. From tariffs to prices

    International Nuclear Information System (INIS)

    Baena, D. Eduardo Martin

    1998-01-01

    It looks like that all over the World things are changing. Many countries, Spain among them, where electricity regulations were usual, are changing their regulatory mainframe. Since January 1, 1998, electricity production is a deregulated activity in Spain. There has to be open market competition. Prices that are very important for the time coming, have to cover the production cost plus some profits in order to maintain the company profitability. This cultural change applies to all our production facilities, including nuclear power plants. Taking into account this new situation and the nuclear competitiveness, it is important for all of us to understand this issue. As it is well known, nuclear energy is capital intensive, that means it has to compete as base load units due to their low operating costs and their large capital ones. For that reason it is important to reduce as much as possible the operating and maintenance cost as well as the fuel one, which will allow nuclear plants to compete in marginal costs with others units. Nuclear energy, in Spain, is not going to fix the pool price but it has to recover some depreciation through it, the remaining being recovered by the recognition of an important part of the stranded cost. (author)

  20. ECONOMICAL PLANS EFFECTS ON CHARCOAL PRICES

    Directory of Open Access Journals (Sweden)

    José Luiz Pereira Rezende

    2007-06-01

    Full Text Available Energy is essential for human needs satisfaction. With the evolution of machinery, man becomes more and more dependent on the energy stocked in fossil fuels, comparatively to the primitive economy. Wood charcoal is a thermal-reducer used in Brazilian pig iron and steel industries, and its price is formed in an oligopsonic market. Over time, the charcoal prices have varied in function of endogenous and exogenous factors, needing, therefore, to be deflated so that they can be compared in two or more points in time. This work analyzed the variations of charcoal real prices, in national currency; compared and analyzed the real charcoal price in nominal and in real US Dollar and; analyzed the real prices of charcoal, comparatively to the real oil prices. The analyses were accomplished in the period from January 1975 to December 2002. The time series of charcoal prices, in domestic currency were deflated using IGP-DI, considering august, 1994=100, and charcoal prices were also converted to American dollar and deflated using CPI, considering the period 1982-84=100. It was compared, then, the real and nominal charcoal prices. It concluded that the real charcoal prices in Brazilian domestic currency, or in American dollar, presented a decreasing tendency along time. The inflationary disarray, in the 80´s and the first half of the 90 ´s, provoked a big price variation in the period; from the beginning the XXI century, charcoal prices were more influenced by the exchange rate; in the energy crisis period, charcoal prices suffered big changes that, however, did not persist along time.

  1. State energy price and expenditure report, 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-08-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the US. The estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1995. Data for all years are available on a CD-ROM and via Internet. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1995, Consumption Estimates (SEDR), published in December 1997. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources.

  2. Pricing and Trust

    DEFF Research Database (Denmark)

    Huck, Steffen; Ruchala, Gabriele K.; Tyran, Jean-Robert

    -competitive (monopolistic) markets. We then introduce a regulated intermediate price above the oligopoly price and below the monopoly price. The effect in monopolies is more or less in line with standard intuition. As price falls volume increases and so does quality, such that overall efficiency is raised by 50%. However......We experimentally examine the effects of flexible and fixed prices in markets for experience goods in which demand is driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and high prices coupled with low quality in non...

  3. 7 CFR 1000.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing... advanced pricing factors. Class prices per hundredweight of milk containing 3.5 percent butterfat, component prices, and advanced pricing factors shall be as follows. The prices and pricing factors described...

  4. Competitive Pricing by a Price Leader

    OpenAIRE

    Abhik Roy; Dominique M. Hanssens; Jagmohan S. Raju

    1994-01-01

    We examine the problem of pricing in a market where one brand acts as a price leader. We develop a procedure to estimate a leader's price rule, which is optimal given a sales target objective, and allows for the inclusion of demand forecasts. We illustrate our estimation procedure by calibrating this optimal price rule for both the leader and the follower using data on past sales and prices from the mid-size sedan segment of the U.S. automobile market. Our results suggest that a leader-follow...

  5. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    Directory of Open Access Journals (Sweden)

    TÜNDE VERES

    2011-01-01

    Full Text Available The pricing methods in practice need really complex view of the business situation and depend on the strategy and market position of a company. The structure of a price seems simple: cost plus margin. Both categories are special area in the management accounting. Information about the product costs, the allocation methodologies in cost accounting, the analyzing of revenue and different level of the margin needs information from accounting system. This paper analyzes the pricing methods from management accounting aspects to show out the role of the accounting system in the short term and long term pricing and transfer pricing decisions.

  6. The Effects of High and Volatile Oil Prices

    International Nuclear Information System (INIS)

    Artus, Patrick; Autume, Antoine d'; Chalmin, Philippe; Chevalier, Jean-Marie; Coeure, Benoit; Kalantizs, Yannick; Klein, Caroline; Guesnerie, Roger; Callonnec, Gael; Gaudin, Thomas; Moisan, Francois; Lescaroux, Francois; Clerc, Marie; Marcus, Vincent; Lalanne, Guy; Pouliquen, Erwan; Simon, Olivier; Mignon, Valerie

    2010-01-01

    Forecasting work carried out by a number of institutions shows how difficult it is to accurately predict trends in oil prices. The authors of this report do not carry out this forecasting exercise, but they share the same conclusions about the main features of oil price trends in the near and medium term: a rise in oil prices is inevitable, and will be accompanied by significant volatility. This expectation is based on detailed analysis of oil price determinants, their past variations and forecasts as to their future trends. On the supply side, like with all goods, the price of oil reflects production costs: extraction, transport and refining costs. Alongside this essentially technological component, more specific determinants are at play: the noncompetitive economic rent, which largely stems from OPEC's hold on the market, the scarcity rent on all non-renewable natural resources (this rent increases at a rate equal to the real interest rate according to Hotelling's rule), various taxes (mainly the TIPP domestic tax on oil products in France) and a new component that is set to gain importance in the years ahead, namely the implicit price of carbon emissions (which may take the form of a carbon tax or the cost of emission permits). It is difficult to isolate these different components and even more difficult to quantify them, but the authors' detailed analysis shows that most predictable supply-side developments will concur to bring about a rise in oil prices. On the demand side, too, forecasts and projections converge towards a rise in oil prices. Demand trends depend on crude oil prices, taxes, economic growth and energy and environmental policies. In most developed countries, the trend is towards a slowdown in demand growth and some countries are even seeing a decline in demand. In addition to the economic crisis, two explanations are put forward. The levels reached by crude oil and fuel prices in July 2008 clearly brought the price-elasticity of

  7. Environmental pricing of externalities from different sources of electricity generation in Chile

    International Nuclear Information System (INIS)

    Aravena, Claudia; Hutchinson, W. George; Longo, Alberto

    2012-01-01

    The rapid increase in electricity demand in Chile means a choice must be made between major investments in renewable or non-renewable sources for additional production. Current projects to develop large dams for hydropower in Chilean Patagonia impose an environmental price by damaging the natural environment. On the other hand, the increased use of fossil fuels entails an environmental price in terms of air pollution and greenhouse gas emissions contributing to climate change. This paper studies the debate on future electricity supply in Chile by investigating the preferences of households for a variety of different sources of electricity generation such as fossil fuels, large hydropower in Chilean Patagonia and other renewable energy sources. Using Double Bounded Dichotomous Choice Contingent Valuation, a novel advanced disclosure method and internal consistency test are used to elicit the willingness to pay for less environmentally damaging sources. Policy results suggest a strong preference for renewable energy sources with higher environmental prices imposed by consumers on electricity generated from fossil fuels than from large dams in Chilean Patagonia. Policy results further suggest the possibility of introducing incentives for renewable energy developments that would be supported by consumers through green tariffs or environmental premiums. Methodological findings suggest that advanced disclosure learning overcomes the problem of internal inconsistency in SB-DB estimates.

  8. Stability in Organic Milk Farm Prices: A Comparative Study

    OpenAIRE

    Su, Ye; Brown, Scott; Cook, Michael L.

    2013-01-01

    The organic milk pay price is more stable year round and increases every year. However, the conventional milk price varies within the year and from year to year. As an emerging segment of the milk industry, consumer demand for organic milk is increasing rapidly. The growth in demand relative to supply provides organic milk producers and processors large premiums over the conventional milk price. Many conventional dairy farms have converted to organic operations for the more stable price. The ...

  9. World oil demand's shift toward faster growing and less price-responsive products and regions

    Energy Technology Data Exchange (ETDEWEB)

    Dargay, Joyce M. [Institute for Transport Studies, University of Leeds, Leeds LS2 9JT (United Kingdom); Gately, Dermot [Dept. of Economics, New York University, 19W. 4 St., New York, NY 10012 (United States)

    2010-10-15

    Using data for 1971-2008, we estimate the effects of changes in price and income on world oil demand, disaggregated by product - transport oil, fuel oil (residual and heating oil), and other oil - for six groups of countries. Most of the demand reductions since 1973-74 were due to fuel-switching away from fuel oil, especially in the OECD; in addition, the collapse of the Former Soviet Union (FSU) reduced their oil consumption substantially. Demand for transport and other oil was much less price-responsive, and has grown almost as rapidly as income, especially outside the OECD and FSU. World oil demand has shifted toward products and regions that are faster growing and less price-responsive. In contrast to projections to 2030 of declining per-capita demand for the world as a whole - by the U.S. Department of Energy (DOE), International Energy Agency (IEA) and OPEC - we project modest growth. Our projections for total world demand in 2030 are at least 20% higher than projections by those three institutions, using similar assumptions about income growth and oil prices, because we project rest-of-world growth that is consistent with historical patterns, in contrast to the dramatic slowdowns which they project. (author)

  10. A meta-analysis of the price elasticity of gasoline demand. A SUR approach

    NARCIS (Netherlands)

    Brons, M.R.E.; Nijkamp, P.; Pels, E.; Rietveld, P.

    2008-01-01

    Automobile gasoline demand can be expressed as a multiplicative function of fuel efficiency, mileage per car and car ownership. This implies a linear relationship between the price elasticity of total fuel demand and the price elasticities of fuel efficiency, mileage per car and car ownership. In

  11. A Meta-analysis of the Price Elasticity of Gasoline Demand. A System of Equations Approach

    NARCIS (Netherlands)

    Brons, Martijn; Nijkamp, Peter; Pels, Eric; Rietveld, Piet

    2006-01-01

    Automobile gasoline demand can be expressed as a multiplicative function of fuel efficiency, mileage per car and car ownership. This implies a linear relationship between the price elasticity of total fuel demand and the price elasticities of fuel efficiency, mileage per car and car ownership. In

  12. Heterogeneity and option pricing

    NARCIS (Netherlands)

    Benninga, Simon; Mayshar, Joram

    2000-01-01

    An economy with agents having constant yet heterogeneous degrees of relative risk aversion prices assets as though there were a single decreasing relative risk aversion pricing representative agent. The pricing kernel has fat tails and option prices do not conform to the Black-Scholes formula.

  13. Fuel trading

    International Nuclear Information System (INIS)

    2015-01-01

    A first part of this report proposes an overview of trends and predictions. After a synthesis on the sector changes and trends, it indicates and comments the most recent predictions for the consumption of refined oil products and for the turnover of the fuel wholesale market, reports the main highlights concerning the sector's life, and gives a dashboard of the sector activity. The second part proposes the annual report on trends and competition. It presents the main operator profiles and fuel categories, the main determining factors of the activity, the evolution of the sector context between 2005 and 2015 (consumptions, prices, temperature evolution). It analyses the evolution of the sector activity and indicators (sales, turnovers, prices, imports). Financial performances of enterprises are presented. The economic structure of the sector is described (evolution of the economic fabric, structural characteristics, French foreign trade). Actors are then presented and ranked in terms of turnover, of added value, and of result

  14. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Mendez, Susan J.; Rønde, Thomas

    On April 1, 2005, Denmark changed the way references prices, a main determinant of reimbursements for pharmaceutical purchases, are calculated. The previous reference prices, which were based on average EU prices, were substituted to minimum domestic prices. Novel to the literature, we estimate...... the joint eects of this reform on prices and quantities. Prices decreased more than 26 percent due to the reform, which reduced patient and government expenditures by 3.0 percent and 5.6 percent, respectively, and producer revenues by 5.0 percent. The prices of expensive products decreased more than...

  15. Solutions for wood-based bio-energy price discovery

    Energy Technology Data Exchange (ETDEWEB)

    Teraes, Timo [FOEX Indexes Ltd., Helsinki (Finland)], e-mail: timo@foex.fi

    2012-11-01

    Energy prices are highly volatile. This volatility can have serious ill-effects on the profitability of companies engaged in the energy business. There are, however, a number of price risk management tools which can be used to reduce the problems caused by price volatility. International trade of wood pellets and wood chips is rapidly growing. A good price transparency helps in developing the trade further. In order to meet the renewable energy targets within the EU, further growth of volumes is needed, at least within Europe and from overseas supply sources to the European markets. Reliable price indices are a central element in price risk management and in general price discovery. Exchanges have provided, in the past, the most widely known price discovery systems. Since 1990's, an increasing number of price risk management tools has been based on cash settlement concept. Cash settlement requires high quality benchmark price indices. These have been developed by the exchanges themselves, by trade press and by independent price benchmark provider companies. The best known of these benchmarks in forest industry and now also in wood-based bioenergy products are the PIX indices, provided by FOEX Indexes Ltd. This presentation discusses the key requirements for a good price index and the different ways of using the indices. Price relationships between wood chip prices and pellet prices are also discussed as will be the outlook for the future volume growth and trade flows in woodchips and pellets mainly from the European perspective.

  16. One TV, One Price?

    OpenAIRE

    Jean Imbs; Haroon Mumtaz; Morten O. Ravn; Hélène Rey

    2009-01-01

    We use a unique dataset on television prices across European countries and regions to investigate the sources of differences in price levels. Our findings are as follows: (i) Quality is a crucial determinant of price differences. Even in an integrated economic zone as Europe, rich economies tend to consume higher quality goods. This effect accounts for the lion’s share of international price dispersion. (ii) Sizable international price differentials subsist even for the same television sets. ...

  17. Value-based pricing

    OpenAIRE

    Netseva-Porcheva Tatyana

    2010-01-01

    The main aim of the paper is to present the value-based pricing. Therefore, the comparison between two approaches of pricing is made - cost-based pricing and value-based pricing. The 'Price sensitively meter' is presented. The other topic of the paper is the perceived value - meaning of the perceived value, the components of perceived value, the determination of perceived value and the increasing of perceived value. In addition, the best company strategies in matrix 'value-cost' are outlined. .

  18. Alaska North Slope crude oil price and the behavior of diesel prices in California

    International Nuclear Information System (INIS)

    Adrangi, B.; Chatrath, A.; Raffiee, K.; Ripple, R.

    2001-01-01

    In this paper we analyze the price dynamics of Alaska North Slope crude oil and L.A. diesel fuel prices. We employ VAR methodology and bivariate GARCH model to show that there is a strong evidence of a uni-directional causal relationship between the two prices. The L.A. diesel market is found to bear the majority of the burden of convergence when there is a price spread. This finding may be seen as being consistent with the general consensus that price discovery emanates from the larger, more liquid market where trading volume is concentrated. The contestability of the West Coast crude oil market tends to cause it to react relatively competitively, while the lack of contestability for the West Coast diesel market tends to limit its competitiveness, causing price adjustment to be slow but to follow the price signals of crude oil. Our findings also suggest that the derived demand theory of input pricing may not hold in this case. The Alaska North Slope crude oil price is the driving force in changes of L.A. diesel price

  19. Review of uranium market price

    International Nuclear Information System (INIS)

    Maragatham Kumar; Nik Arlina Nik Ali; Koh You Beng

    2007-01-01

    Uranium is used as an abundant source of concentrated energy and is the principal fuel for the generation of electricity by nuclear reactors. In nuclear reactors, the uranium fuel is assembled in such a way that a controlled fission chain reaction can be achieved. Since uranium is the main source of nuclear energy, demand prospects for uranium has increased dramatically with the renewed global interest in nuclear power generation in recent years. Although the global uranium market is relatively small worldwide, compared to other mineral and energy sources, it is a very important market as nuclear power generation accounts for about 18% of global electricity supply. After reaching historic lows in 1990s, uranium prices have risen substantially in recent years. The outlook for nuclear power has changed since 2000, with concerns over global warming, proven excellent safety record, competitive costs, progress on nuclear waste disposal issues and also continuing new nuclear plant construction around the world. These and various other influencing factors have resulted in the uranium market evolving from one that was driven by excess secondary supplies to that by primary production. This paper reviews the global market prices for the years 1987 until 2006 and the factors, which influence the changes in global uranium market prices. (Author)

  20. Optimal load allocation of multiple fuel boilers.

    Science.gov (United States)

    Dunn, Alex C; Du, Yan Yi

    2009-04-01

    This paper presents a new methodology for optimally allocating a set of multiple industrial boilers that each simultaneously consumes multiple fuel types. Unlike recent similar approaches in the utility industry that use soft computing techniques, this approach is based on a second-order gradient search method that is easy to implement without any specialized optimization software. The algorithm converges rapidly and the application yields significant savings benefits, up to 3% of the overall operating cost of industrial boiler systems in the examples given and potentially higher in other cases, depending on the plant circumstances. Given today's energy prices, this can yield significant savings benefits to manufacturers that raise steam for plant operations.

  1. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    OpenAIRE

    TÜNDE VERES

    2011-01-01

    The pricing methods in practice need really complex view of the business situation and depend on the strategy and market position of a company. The structure of a price seems simple: cost plus margin. Both categories are special area in the management accounting. Information about the product costs, the allocation methodologies in cost accounting, the analyzing of revenue and different level of the margin needs information from accounting system. This paper analyzes the pricing methods from m...

  2. Consumers' perceptions regarding tradeoffs between food and fuel expenditures: A case study of U.S. and Belgian fuel users

    International Nuclear Information System (INIS)

    Skipper, Daniel; Popp, Michael; Vickery, Gina; Van de Velde, Liesbeth; Van Huylenbroeck, Guido; Verbeke, Wim

    2009-01-01

    Biofuels have been suggested as a sustainable alternative to fossil-based fuels, but when produced with inputs traditionally used as food and feed grain, the production of biofuels has contributed to price increases in the food sector. In the fall of 2006, a survey was administered to compare consumer perceptions regarding the tradeoff between renewable fuels and food in the United States (U.S.) (n = 242) and Belgium (n = 363). Results show that respondents in both countries prefer lower food prices to lower fuel prices (67.6% in the U.S. and 78.9% in Belgium). A logit model was estimated to determine which variables impacted whether a consumer favored policies that lower fuel prices at the cost of higher food prices. While the sample of Belgian respondents appeared to realize that lower fuel prices eventually had to come at the cost of higher food prices, the sample of U.S. respondents felt domestic agriculture could provide some low-cost, environmentally friendly alternatives with little impact on food prices. Accessible public transportation in Belgium acted as an important fuel saving strategy in that country and led respondents to emphasize food price decreases over fuel price decreases. Also, respondents with heightened awareness towards the environment recognized that the expansion of renewable fuels may need to come at the cost of higher food prices. These attitudes were similar in both countries. Finally, in both countries older respondents placed more importance on lower food prices than lower fuel prices. (author)

  3. On the nuclear fuel and fossil fuel reserves

    International Nuclear Information System (INIS)

    Fettweis, G.

    1978-01-01

    A short discussion of the nuclear fuel and fossil fuel reserves and the connected problem of prices evolution is presented. The need to regard fuel production under an economic aspect is emphasized. Data about known and assessed fuel reserves, world-wide and with special consideration of Austria, are reviewed. It is concluded that in view of the fuel reserves situation an energy policy which allows for a maximum of options seems adequate. (G.G.)

  4. Bioethanol: fuel or feedstock?

    DEFF Research Database (Denmark)

    Rass-Hansen, Jeppe; Falsig, Hanne; Jørgensen, Betina

    2007-01-01

    Increasing amounts of bioethanol are being produced from fermentation of biomass, mainly to counteract the continuing depletion of fossil resources and the consequential escalation of oil prices. Today, bioethanol is mainly utilized as a fuel or fuel additive in motor vehicles, but it could also...

  5. Exporter Price Premia?

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Sørensen, Allan

    This paper provides new evidence on manufacturing firms' output prices: in Denmark, on average, exported varieties are sold at a lower price (i.e. a negative exporter price premium) relative to only domestically sold varieties. This finding stands in sharp contrast to previous studies, which have...... found positive exporter price premia. We also document that the exporter price premium varies substantially across products (both in terms of sign and magnitude). We show that in a standard heterogeneous firms model with heterogeneity in quality as well as production efficiency there is indeed no clear......-cut prediction on the sign of the exporter price premium. However, the model unambiguously predicts a negative exporter price premium in terms of quality-adjusted prices, i.e. prices per unit of quality. This prediction is broadly borne out in the Danish data: while the magnitude of the premium varies across...

  6. Price strategy and pricing strategy: terms and content identification

    OpenAIRE

    Panasenko Tetyana

    2015-01-01

    The article is devoted to the terminology and content identification of seemingly identical concepts "price strategy" and "pricing strategy". The article contains evidence that the price strategy determines the direction, principles and procedure of implementing the company price policy and pricing strategy creates a set of rules and practical methods of price formation in accordance with the pricing strategy of the company.

  7. Wood fuel supply as a function of forest owner preferences and management styles

    International Nuclear Information System (INIS)

    Bohlin, F.; Roos, A.

    2002-01-01

    The commercial demand for wood fuel is rapidly increasing in Sweden, and the domestic supply comes primarily from private non-industrial forest owners. A model was developed to analyse decision-making among these private forest owners. The model covers five factors: economics, transaction costs, concerns about soil fertility, forestry, and previous experience. It was applied in a survey among forest owners in four communities in central Sweden in 1999. Wood fuels had been sold from 60% of the estates. Analysis suggests that the price paid had little influence on the decision to sell. Transaction costs had been alleviated by the traditional timber buyer organizing the fuel trade, and by minimizing measurement in the forest. The primary reason for selling wood fuel was that the harvesting operation cleared the ground of debris. There is a general concern for loss in soil fertility due to wood fuel harvesting which is why some owners do not sell forest fuels. Two types of fuel-selling forest owners were identified: (1) an active manager seeking different gains from wood fuel harvest, and (2) an owner who primarily relies on the advice of the timber buyer. The findings indicate that large-scale traders of wood fuels have to be active in increasing supply, making direct contact with forest owners, and connecting trade with information on ecological and silvicultural effects. Offering ash recycling may enhance supply more than marginal price increases. (author)

  8. Estimates of Canadian fuel fabrication costs for alternative fuel cycles and systems

    International Nuclear Information System (INIS)

    Blahnik, C.

    1979-04-01

    Unit fuel fabrication costs are estimated for alternate fuel cycles and systems that may be of interest in Ontario Hydro's strategy analyses. A method is proposed for deriving the unit fuel fabrication price to be paid by a Canadian utility as a function of time (i.e. the price that reflects the changing demand/supply situation in the particular scenario considered). (auth)

  9. Electricity pricing model in thermal generating stations under deregulation

    International Nuclear Information System (INIS)

    Reji, P.; Ashok, S.; Moideenkutty, K.M.

    2007-01-01

    In regulated public utilities with competitive power markets, deregulation has replaced the monopoly. Under the deregulated power market, the electricity price primarily depends on market mechanism and power demand. In this market, generators generally follow marginal pricing. Each generator fixes the electricity price based on their pricing strategy and it leads to more price volatility. This paper proposed a model to determine the electricity price considering all operational constraints of the plant and economic variables that influenced the price, for a thermal generating station under deregulation. The purpose of the model was to assist existing stations, investors in the power sector, regulatory authorities, transmission utilities, and new power generators in decision-making. The model could accommodate price volatility in the market and was based on performance incentive/penalty considering plant load factor, availability of the plant and peak/ off peak demand. The model was applied as a case study to a typical thermal utility in India to determine the electricity price. It was concluded that the case study of a thermal generating station in a deregulated environment showed that the electricity price mainly depended on the gross calorific value (GCV) of fuel, mode of operation, price of the fuel, and operating charges. 11 refs., 2 tabs., 1 fig

  10. Valuation Struggles over Pricing

    DEFF Research Database (Denmark)

    Pallesen, Trine

    2016-01-01

    of creating political markets, and political prices, here understood as market distortion. This paper studies the ‘politics’ of pricing by following the adoption of the first feed-in tariff in France. Pricing as a way of achieving non-economic ends, such as climate mitigation, brings the values of several...... public goods into play, all the while prompting a translation of these values into a single price. Following the struggles over the pricing of wind power in the early 2000s, the study illustrates that rather than a pollution of the market sphere by that of politics, a politics of pricing can be observed...

  11. Do gasoline prices exhibit asymmetry? Not usually

    International Nuclear Information System (INIS)

    Douglas, Christopher C.

    2010-01-01

    Previous studies have found evidence of asymmetric price adjustment in U.S. retail gasoline prices in that gasoline prices rise more rapidly in response to a cost increase than fall in response to a cost decrease. By estimating a threshold cointegration model that allows for multiple regimes, I am able to test how sensitive this result is to outlying observations. In contrast to previous studies, I find little evidence of asymmetry for the vast majority of observations and that the asymmetry is being driven by a small number of outlying observations. (author)

  12. An integrated framework for energy pricing in developing countries

    International Nuclear Information System (INIS)

    Munasinghe, M.

    1989-01-01

    In the paper the importance of coordinated energy planning and pricing is emphasized with particular reference to the interrelationships among the pricing polices adopted in various energy subsectors such as electric power, petroleum, natural gas, coal and traditional fuels. Nonconventional sources can also be fitted into this framework. The chief investment issues are also touched to the extent that they strongly influence pricing policy. 15 refs, 7 figs

  13. Can developing countries benefit from innovative pricing in the power sector?

    International Nuclear Information System (INIS)

    Hill, L.J.

    1991-01-01

    This study explores electricity pricing as a demand-side management (DSM) strategy, looking to the developed country experience for insights into the types of approaches currently used, their effects, and the direction in which electricity pricing is headed. The discussion should be especially useful for electric utilities in developing countries that are exploring alternatives to capacity expansion to meet current and future electric power demand. For these electric utilities, demand-side options are especially important under today's conditions in which the capital cost of new generating capacity is increasing rapidly, international funds for expanding power sectors are not expected to be sufficient for meeting projected capacity needs and environmental concerns over fossil fuel emissions have raised new questions about constructing thermal power plants. (author). 21 refs, 2 tabs

  14. Electricity Futures Prices : Time Varying Sensitivity to Fundamentals

    NARCIS (Netherlands)

    S-E. Fleten (Stein-Erik); R. Huisman (Ronald); M. Kilic (Mehtap); H.P.G. Pennings (Enrico); S. Westgaard (Sjur)

    2014-01-01

    textabstractThis paper provides insight in the time-varying relation between electricity futures prices and fundamentals in the form of prices of contracts for fossil fuels. As supply curves are not constant and different producers have different marginal costs of production, we argue that the

  15. China's coal price disturbances: Observations, explanations, and implications for global energy economies

    International Nuclear Information System (INIS)

    Yang, Chi-Jen; Xuan, Xiaowei; Jackson, Robert B.

    2012-01-01

    Since China decontrolled coal prices, its coal price has risen steadily and been unusually volatile. In 2011 in particular, high coal prices and capped electricity prices in China discouraged coal-fired power generation, triggering widespread power shortages. We suggest that these coal-price disturbances could be symptomatic of a major change in pricing dynamics of global fossil-fuel markets, with increasing correspondence between coal and oil prices globally. Historically, global coal prices have been more stable and lower than oil and natural gas prices on a per-heat basis. In recent years, however, coal prices have been increasingly volatile worldwide and have tracked other fossil fuel prices more closely. Meanwhile, the recent development of unconventional gas has substantially decoupled US natural gas and oil prices. Technically, low US natural gas prices, with potential fuel switching, could drive US domestic coal prices lower. However, this effect is unlikely to counteract the overall trend in increasing coal consumption globally. China's market size and unique, partially-controlled energy system make its reform agenda a key force in the global economy. Policymakers in the US, E.U. and elsewhere should monitor China's economic reform agenda to anticipate and respond to changes accompanying China's increasing importance in the global energy economy. - Highlights: ► Since China decontrolled its coal prices, the price of coal has risen steadily in China, accompanied by unusual volatility. ► Relatively high and volatile coal prices have triggered widespread power shortages in China. ► Coal and oil prices have already become, and continue to become, more closely linked globally. ► China's demand will likely drive up global coal prices and make them as volatile as that of other fossil fuels. ► Policymakers should monitor China's economic reform agenda to anticipate and respond to changes in the global energy economy.

  16. PRICES IN COMPETITIVE SYSTEM

    Directory of Open Access Journals (Sweden)

    VADUVA MARIA

    2017-08-01

    Full Text Available Regularities of competitive market determine rules for determining prices and their dynamics. Orientation prices to competition (competitive pricing is the strategy most frequently used in countries with market economies and especially for exports. Moreover, in an economy dominated by market competition it cannot be ignored without certain risks the prices resulting from competition between products bidders. Companies that use this type of strategy seek to maintain a level of prices linked to that charged by other competitors (or exporting producers generally no longer covering production costs or demand, relying on the assumption that the average market price is a reasonable basis of costs. But the way how practical guidance and reporting to the competition in every price strategy, will be determined by the company's market position, by the available power and enjoyed prestige, objectives and prospects of its market share etc. according to these elements, there may be several versions of pricing strategies oriented to competitors.

  17. Retail Price Model

    Science.gov (United States)

    The Retail Price Model is a tool to estimate the average retail electricity prices - under both competitive and regulated market structures - using power sector projections and assumptions from the Energy Information Administration.

  18. Natural gas pricing

    International Nuclear Information System (INIS)

    Freedenthal, C.

    1993-01-01

    Natural gas pricing is the heart and soul of the gas business. Price specifically affects every phase of the industry. Too low a price will result in short supplies as seen in the mid-1970s when natural gas was scarce and in tight supply. To fully understand the pricing of this energy commodity, it is important to understand the total energy picture. In addition, the effect and impact of world and US economies, and economics in general are crucial to understanding natural gas pricing. The purpose of this presentation will be to show the parameters going into US natural gas pricing including the influence of the many outside industry factors like crude oil and coal pricing, market drivers pushing the gas industry, supply/demand parameters, risk management for buyers and sellers, and other elements involved in pricing analysis

  19. Drug Pricing Reforms

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Mendez, Susan J.; Rønde, Thomas

    2015-01-01

    Reference price systems for prescription drugs have found widespread use as cost containment tools. Under such regulatory regimes, patients co-pay a fraction of the difference between pharmacy retail price of the drug and a reference price. Reference prices are either externally (based on drug...... prices in other countries) or internally (based on domestic drug prices) determined. In a recent study, we analysed the effects of a change from external to internal reference pricing in Denmark in 2005, finding that the reform led to substantial reductions in prices, producer revenues, and expenditures...... for patients and the health insurance system. We also estimated an increase in consumer welfare but the size effect depends on whether or not perceived quality differences between branded and other drugs are taken into account....

  20. The market equilibrium of OPEC's pricing mechanism

    International Nuclear Information System (INIS)

    Hammoudeh, S.; Madan, V.

    1990-01-01

    At least twice a year, oil ministers of the Organization of the Petroleum Exporting Countries (OPEC) meet in Vienna or Geneva to adjust the group's output ceiling to eliminate discrepancies between the market price and the target price. If the market imbalances are persistent, then the target price is also adjusted. Often, OPEC's members differ in their assessment of future market demand for their oil and, thus, present different views on the need to adjust the output celing and the target price. During periods of downward pressures on oil prices, the high absorbers of capital (i.e., oil revenues) prefer a speedy downward adjustment to the celing, while the low absorbers are slow to react. However, in the event of tightening markets, the low absorbers usually respond by exceeding their quotas before agreeing on a ceiling adjustment. Therefore, OPEC nations have different desirable speeds of adjustment. This paper specifies and examines the stability of OPEC's pricing mechanism. It presents a strategy which would enable the organization to achieve a target price-based market equilibrium with increased rapidity through the appropriate manipulation of the speed of output ceiling adjustment. This strategy is applied using data on market and target prices, actual output, and output ceilings for the first quarter of 1991. The main finding is that, given the target price, OPEC's equilibrium market demand is significantly lower than the assigned output ceiling. Production should have been reduced by at least 3 million barrels a day for OPEC to realize the $21 per barrel target price in the first quarter of 1991. Seasonal factors can cause slight variations in this output but would not bring out compatibility between the target price and the output ceiling within a reasonable period of time unless OPEC follows an activist policy of output adjustment. 3 figs., 1 tab

  1. The dieselization of America: An integrated strategy for future transportation fuels

    Energy Technology Data Exchange (ETDEWEB)

    Eberhardt, J.J. [Dept. of Energy, Washington, DC (United States)

    1997-12-31

    The Diesel Cycle engine has already established itself as the engine-of-choice for the heavy duty transport industry because of its fuel efficiency, durability, and reliability. In addition, it has also been shown to be capable of using alternative fuels, albeit at efficiencies lower than that achieved with petroleum-derived diesel fuel. Alternative fuel dedicated engines have not made significant penetration of the heavy duty truck market because truck fleet operators need a cost-competitive fuel and reliable supply and fueling infrastructure. In lieu of forcing diverse fuels from many diverse domestic feedstocks onto the end-users, the Office of Heavy Vehicle Technologies envisions that a future fuels strategy for the heavy duty transport sector is one where the diverse feedstocks are utilized to provide a single fuel specification (dispensed from the existing fueling infrastructure) that would run efficiently in a single high efficiency energy conversion device, the Diesel Cycle engine. In so doing, the US Commercial transport industry may gain a measure of security from the rapid fuel price increases by relying less on a single feedstock source to meet its increasing fuel requirements.

  2. NUKEM adjusts price definitions

    International Nuclear Information System (INIS)

    Anon.

    1994-01-01

    This article is the October-November 1994 market report, providing trading volume and prices in the Uranium market. During this period, there were five deals in the spot concentrates market, five deals in the medium and long-term market, one deal in the conversion market, and two deals in the enrichment market. Restricted prices strengthened while unrestricted prices held steady. Price re-definitions were also announced

  3. Delegating Pricing Decisions

    OpenAIRE

    Pradeep Bhardwaj

    2001-01-01

    An outstanding problem in marketing is why some firms in a competitive market delegate pricing decisions to agents and other firms do not. This paper analyzes the impact of competition on the delegation decision and, in turn, the impact of delegation on prices and incentives. The theory builds on the simplest framework of competition in two dimensions: prices and (sales agents') effort. Specifically, we are interested in answering the following questions: (1) Does competition affect the price...

  4. Petroleum product pricing in Asian developing countries: Lessons from the past and future issues

    International Nuclear Information System (INIS)

    Bhattacharyya, S.C.

    1997-01-01

    This paper looks at the pricing of petroleum products in ten Asian developing countries using a data series for 1973--1992. Prices of petroleum products are compared with international prices. Differential prices are measured with respect to diesel prices. It is found that energy prices are used as instruments for revenue earnings. Pricing policies vary widely among countries and neighbors have different fuel prices. Countries try to align the local prices of petroleum products in line with international prices but with a lag of 1--2 years. The wave of liberalization and privatization is sweeping many developing countries. Additionally, environmental issues are gaining importance even in developing countries. The paper also discusses these emerging issues that need to be taken into account in the petroleum product pricing

  5. Price competition on graphs

    NARCIS (Netherlands)

    Soetevent, A.R.

    2010-01-01

    This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. I propose an algorithm to calculate firm-level demand for any given graph, conditional on prices and firm locations. One feature of graph models of price competition is that spatial

  6. Press point on prices

    International Nuclear Information System (INIS)

    Schilansky, J.L.

    2005-06-01

    This document presents information and statistical data on the prices of the crude oils, refining and petroleum products, at the date of the 28 June 2005: evolution of the barrel price, supply and demand, geo-policy, consumption, diesel and gasoline, prices at the service station. (A.L.B.)

  7. Price control and macromarketing

    Directory of Open Access Journals (Sweden)

    Kancir Rade

    2003-01-01

    Full Text Available Price control at macro level is part of integral macro marketing strategic control system, or more precisely, part of social marketing mix control. Price impact is direct, if it is regarded in the context of needs satisfaction, and indirect, within the context of resource allocation. These two patterns of price impact define control mechanism structuring. Price control in sense of its direct impact at process of need satisfaction should comprise qualitative and quantitative level of needs satisfaction at a given price level and its structure, informational dimension of price and different disputable forms of corporate pricing policies. Control of price allocation function is based at objectives of macro marketing system management in the area of resource allocation and the role of price as allocator in contemporary market economies. Control process is founded, on one hand, at theoretical models of correlation between price and demand in different market structures, and on the other hand, at complex limits that price as allocator has, and which make whole control process even more complex because of reduction of the degree of determinism in functioning of contemporary economic systems. Control of price allocation function must be continuous and dynamic process if it is to provide for convergence with environmental changes and if it is to provide for placing control systems at micro marketing levels in the function of socially valid objectives.

  8. Simulating Price-Taking

    Science.gov (United States)

    Engelhardt, Lucas M.

    2015-01-01

    In this article, the author presents a price-takers' market simulation geared toward principles-level students. This simulation demonstrates that price-taking behavior is a natural result of the conditions that create perfect competition. In trials, there is a significant degree of price convergence in just three or four rounds. Students find this…

  9. Dutch house price fundamentals

    NARCIS (Netherlands)

    Haffner, M.E.A.; de Vries, P.

    2009-01-01

    This paper discusses house price developments in the Netherlands, specifically focussing on the question whether current house prices in the Dutch owner-occupied market are likely to decrease. We analyse three aspects of the question based on a literature review: (1) whether there is a house price

  10. Energy prices and the promotion of energy conservation. A background study for energy conservation programme

    International Nuclear Information System (INIS)

    1994-01-01

    The prices of fuels in the international markets affect the development of consumer prices of energy in Finland. In the near future no factors can be foreseen, which would cause major increases in the prices of oil, coal or gas. It can thus not be expected that increased fuel prices would motivate more efficient energy conservation. In international comparison, consumer prices of energy have been relatively low in Finland. This applies especially to electricity. After the removal of price controls, energy prices have been determined by the markets. The influence of the public authorities in energy pricing is put into effect through taxation. The price of energy has a fairly small effect on energy consumption in a short term, but longer term effects are more significant. Energy products are faxed in all western countries. (orig.)

  11. Analyzing the effects of past prices on reference price formation

    OpenAIRE

    van Oest, R.D.; Paap, R.

    2004-01-01

    textabstractWe propose a new reference price framework for brand choice. In this framework, we employ a Markov-switching process with an absorbing state to model unobserved price recall of households. Reference prices result from the prices households are able to remember. Our model can be used to learn how many prices observed in the past are used for reference price formation. Furthermore, we learn to what extent households have sufficient price knowledge to form an internal reference price...

  12. Modelling the effects of transport policy levers on fuel efficiency and national fuel consumption

    International Nuclear Information System (INIS)

    Kirby, H.R.; Hutton, B.; McQuaid, R.W.; Napier Univ., Edinburgh; Raeside, R.; Napier Univ., Edinburgh; Zhang, Xiayoan; Napier Univ., Edinburgh

    2000-01-01

    The paper provides an overview of the main features of a Vehicle Market Model (VMM) which estimates changes to vehicle stock/kilometrage, fuel consumed and CO 2 emitted. It is disaggregated into four basic vehicle types. The model includes: the trends in fuel consumption of new cars, including the role of fuel price: a sub-model to estimate the fuel consumption of vehicles on roads characterised by user-defined driving cycle regimes; procedures that reflect distribution of traffic across different area/road types; and the ability to vary the speed (or driving cycle) from one year to another, or as a result of traffic growth. The most significant variable influencing fuel consumption of vehicles was consumption in the previous year, followed by dummy variables related to engine size. the time trend (a proxy for technological improvements), and then fuel price. Indeed the effect of fuel price on car fuel efficiency was observed to be insignificant (at the 95% level) in two of the three versions of the model, and the size of fuel price term was also the smallest. This suggests that the effectiveness of using fuel prices as a direct policy tool to reduce fuel consumption may he limited. Fuel prices may have significant indirect impacts (such as influencing people to purchase more fuel efficient cars and vehicle manufacturers to invest in developing fuel efficient technology) as may other factors such as the threat of legislation. (Author)

  13. Internet resource pricing models

    CERN Document Server

    Xu, Ke; He, Huan

    2013-01-01

    This brief guides the reader through three basic Internet resource pricing models using an Internet cost analysis. Addressing the evolution of service types, it presents several corresponding mechanisms which can ensure pricing implementation and resource allocation. The authors discuss utility optimization of network pricing methods in economics and underline two classes of pricing methods including system optimization and entities' strategic optimization. The brief closes with two examples of the newly proposed pricing strategy helping to solve the profit distribution problem brought by P2P

  14. Value-based pricing

    Directory of Open Access Journals (Sweden)

    Netseva-Porcheva Tatyana

    2010-01-01

    Full Text Available The main aim of the paper is to present the value-based pricing. Therefore, the comparison between two approaches of pricing is made - cost-based pricing and value-based pricing. The 'Price sensitively meter' is presented. The other topic of the paper is the perceived value - meaning of the perceived value, the components of perceived value, the determination of perceived value and the increasing of perceived value. In addition, the best company strategies in matrix 'value-cost' are outlined. .

  15. Fuel cycle and waste newsletter. Vol. 2, No. 2, August 2006

    International Nuclear Information System (INIS)

    2006-08-01

    Over the last few years there has been a contiguously increasing interest in the issues connected to the nuclear fuel cycle. After more than 10 years of low and stable uranium prices, the prices on the spot market have rapidly increased. The latest published spot market price (∼ 47 US$/lb U3O8) is about 7 times the historic low registered at the beginning of 2001, reflecting the inbalance between primary supply and demand and the expected reduction in stockpiles and other secondary supplies. This has lead to increased activities on exploration and mining developments. In many countries we see signs of rising expectations for the use of nuclear energy. This puts focus on the long term uranium supply and the long term sustainability of nuclear power. The interest for closed fuel cycle activities has therefore increased substantially also in countries that until recently did not consider recycling. Within the Generation IV International Forum four of the six concepts studied are fast or epithermal reactors with a closed fuel cycle. Recent initiatives like the Russian proposal for an International Fuel Cycle Centre and the US proposal for a Global Nuclear Energy Partnership also involves development work on treatment and recycling of fuel. But recycling also raises issues of proliferation and the recent initiatives also have components addressing this. This issue of the Fuel Cycle and Waste Newsletter is entirely devoted to the work performed within the Nuclear Fuel Cycle and Materials Section of our Division. It reviews the International Conference on Management of Spent Fuel from Nuclear Power reactors and it covers a very broad spectrum of activities from uranium and thorium exploration, through the use of nuclear fuel in reactors to the management of the spent fuel and its subsequent recycling. Furthermore it lists coordinated research projects, recent publications, forthcoming meetings, conference announcements and web links

  16. Reflections on the reporting of the uranium spot price

    International Nuclear Information System (INIS)

    Novak, E.D.

    1984-01-01

    Reporting of the Spot Uranium Price does not represent the uranium market, but actually represents the extremities of a market. The Spot Prices tend to cause instabilities in the market if relied upon too heavily and an excessive use will actually support a questionable transition from a fuel supply industry to a commodities industry. Utility fuel buyers and uranium sellers must be careful how they use the Spot Price, or they will continue to create an unstable supply/demand relationship. But, since we all rely upon statistics for the illusion of independence, we may get the commodities market, assisted along by the information people, whether we want it or not

  17. Market integration among electricity markets and their major fuel source markets

    International Nuclear Information System (INIS)

    Mjelde, James W.; Bessler, David A.

    2009-01-01

    Dynamic price information flows among U.S. electricity wholesale spot prices and the prices of the major electricity generation fuel sources, natural gas, uranium, coal, and crude oil, are studied. Multivariate time series methods applied to weekly price data show that in contemporaneous time peak electricity prices move natural gas prices, which in turn influence crude oil. In the long run, price is discovered in the fuel sources market (except uranium), as these prices are weakly exogenous in a reduced rank regression representation of these energy prices.

  18. LPG consumption in the long term: supply, pricing demand with particular reference to the petrochemical sector

    International Nuclear Information System (INIS)

    Shammas, P.

    1996-01-01

    Supply of LPG is forecast to grow over the next decade from the present level of 180 million t/y to about 185-190 million t/y, depending on demand in Asia which is rising rapidly and on new LPG export projects. Most of the increase in supply will come from new gas and crude oil production, from new LPG ventures, and from refineries reducing the n-butane content of motor gasoline. Pricing will remain volatile as a result of crude oil price volatility, variations in the winter weather in the Northern Hemisphere, and as result of competition between ethane, PPG, naphtha and condensate as ethylene cracker feedstocks. Demand for LPG in OECD countries will continue to show steady growth. The increase in demand will be more rapid in the relatively less developed OECD countries, as the trend in Spain has shown in recent years. Provided that the LPG price is competitive, demand in China, South-East Asia and the Indian sub-continent could grow beyond current projections. Consumption in these countries will depend on the installation of distribution facilities and the rate at which LPG can substitute for traditional fuels and kerosene as well as compete for limited disposable incomes. (author)

  19. Stochastic arbitrage return and its implications for option pricing

    OpenAIRE

    Fedotov, Sergei; Panayides, Stephanos

    2004-01-01

    The purpose of this work is to explore the role that arbitrage opportunities play in pricing financial derivatives. We use a non-equilibrium model to set up a stochastic portfolio, and for the random arbitrage return, we choose a stationary ergodic random process rapidly varying in time. We exploit the fact that option price and random arbitrage returns change on different time scales which allows us to develop an asymptotic pricing theory involving the central limit theorem for random proces...

  20. Understanding the determinants of electricity prices and the impact of the German Nuclear Moratorium in 2011

    International Nuclear Information System (INIS)

    Thoenes, Stefan

    2011-01-01

    This paper shows how the effect of fuel prices varies with the level of electricity demand. It analyzes the relationship between daily prices of electricity, natural gas and carbon emission allowances with a vector error correction model and a semiparametric varying smooth coefficient model. The results indicate that the electricity price adapts to fuel price changes in a long-term cointegration relationship. Different electricity generation technologies have distinct fuel price dependencies, which allows estimating the structure of the power plant portfolio by exploiting market prices. The semiparametric model indicates a technology switch from coal to gas at roughly 85% of maximum demand. It is used to analyze the market impact of the nuclear moratorium by the German Government in March 2011. Futures prices show that the market efficiently accounts for the suspended capacity and expects that several nuclear plants will not be switched on after the moratorium.

  1. 7 CFR 1131.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1131.53 Section 1131.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  2. 7 CFR 1005.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1005.53 Section 1005.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  3. 7 CFR 1124.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1124.53 Section 1124.53 Agriculture Regulations of the Department of Agriculture... Announcement of class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  4. 7 CFR 1126.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1126.53 Section 1126.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  5. 7 CFR 1032.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1032.53 Section 1032.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  6. 7 CFR 1030.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1030.53 Section 1030.53 Agriculture Regulations of the Department of Agriculture... of class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  7. 7 CFR 1033.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1033.53 Section 1033.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  8. 7 CFR 1001.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1001.53 Section 1001.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  9. 7 CFR 1007.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1007.53 Section 1007.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  10. 7 CFR 1006.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1006.53 Section 1006.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  11. Arbitrage Pricing, Capital Asset Pricing, and Agricultural Assets

    OpenAIRE

    Louise M. Arthur; Colin A. Carter; Fay Abizadeh

    1988-01-01

    A new asset pricing model, the arbitrage pricing theory, has been developed as an alternative to the capital asset pricing model. The arbitrage pricing theory model is used to analyze the relationship between risk and return for agricultural assets. The major conclusion is that the arbitrage pricing theory results support previous capital asset pricing model findings that the estimated risk associated with agricultural assets is low. This conclusion is more robust for the arbitrage pricing th...

  12. Price strategy and pricing strategy: terms and content identification

    Directory of Open Access Journals (Sweden)

    Panasenko Tetyana

    2015-11-01

    Full Text Available The article is devoted to the terminology and content identification of seemingly identical concepts "price strategy" and "pricing strategy". The article contains evidence that the price strategy determines the direction, principles and procedure of implementing the company price policy and pricing strategy creates a set of rules and practical methods of price formation in accordance with the pricing strategy of the company.

  13. Report of the Select Committee on Petroleum Product Pricing

    International Nuclear Information System (INIS)

    Dooks, B.

    2004-01-01

    An all-party Committee of the House of Legislative Assembly of Nova Scotia was established to investigate the pricing of petroleum products such as gasoline and home heating fuel. The Committee conducted public hearings in Halifax, Yarmouth, Bridgewater, Sydney, and Truro, in order to seek input from consumers, producers, suppliers and operators. The mandate of the Select Committee on Petroleum Product Pricing was to investigate the supply and pricing of fuels, including gasoline and home heating oil and to determine whether current prices are justified and fair. This investigation included an examination of the reasons for the current level of product prices; product supply; reasons for volatility in product prices; the rationale for differences in prices across different regions of the province; factors that affect the viability of low volume outlets in the rural and urban marketplace; factors that affect the viability of independent retail operators in the province; and, any evidence of predatory pricing practices at the wholesale and retail levels of the market. The Select Committee also made recommendations related to fair and reasonable product prices at the consumer level, retail and wholesale margins, as well as other actions that may be required to correct imbalances in the distribution and sales of these products to consumers in the province. 8 appendices

  14. STS pricing policy

    Science.gov (United States)

    Lee, C. M.; Stone, B.

    1982-01-01

    In 1977 NASA published Shuttle Reimbursement Policies for Civil U.S. Government, DOD and Commercial and Foreign Users. These policies were based on the principle of total cost recovery over a period of time with a fixed flat price for initial period to time to enhance transition. This fixed period was to be followed with annual adjustments thereafter, NASA is establishing a new price for 1986 and beyond. In order to recover costs, that price must be higher than the initial fixed price through FY 1985. NASA intends to remain competitive. Competitive posture includes not only price, but other factors such as assured launch, reliability, and unique services. NASA's pricing policy considers all these factors.

  15. Target Price Accuracy

    Directory of Open Access Journals (Sweden)

    Alexander G. Kerl

    2011-04-01

    Full Text Available This study analyzes the accuracy of forecasted target prices within analysts’ reports. We compute a measure for target price forecast accuracy that evaluates the ability of analysts to exactly forecast the ex-ante (unknown 12-month stock price. Furthermore, we determine factors that explain this accuracy. Target price accuracy is negatively related to analyst-specific optimism and stock-specific risk (measured by volatility and price-to-book ratio. However, target price accuracy is positively related to the level of detail of each report, company size and the reputation of the investment bank. The potential conflicts of interests between an analyst and a covered company do not bias forecast accuracy.

  16. Equitable Prices of Single-Source Drugs in Thailand.

    Science.gov (United States)

    Ngorsuraches, Surachat; Chaiyakan, Kanokkan

    2015-08-01

    In Thailand, total drug expenditure has grown rapidly. Recently, the Thai government has addressed the issue of drug pricing, but the prices of single-source drugs remain a major challenge. To examine equitable prices of single-source drugs in Thailand. A total of 98 single-source and high-expenditure drugs were examined. Unit prices from the Drug and Medical Supplies Information Center (DMSIC) and National Average Drug Acquisition Cost (NADAC) were used to represent drug prices at the provider level in Thailand and the U.S., respectively. Data for measuring drug affordability, e.g., dose and poverty line, were obtained from Micromedex online and the National Statistical Office (NSO). The U.S. drug prices were adjusted by the Human Development Index (HDI) to be equitable prices for Thailand. Purchasing Power Parity (PPP) was used to convert US currency into Thai baht. All prices in this study were based on the year 2012. Catastrophic, Impoverishment, and WHO/Health Action International (HAI) approaches were used to determine Thai citizens' ability to afford the study drugs. Finally, uncertainty analyses were conducted. From all study drugs, 55 single-source drugs were priced higher than their equitable prices, ranging from 0.38 to 422.36% higher. Among these, 28 items were antineoplastic drugs. The prices of drugs outside the National List of Essential Medicines (NLEM), as well as the country's newer drugs, tended to be higher than their calculated equitable prices. The majority of drugs in Thailand priced higher than equitable prices were unaffordable for most Thai citizens. The uncertainty analyses revealed that almost all results were relatively robust. Most single-source drug prices in Thailand were higher than their equitable prices, and were likely to be unaffordable to Thai citizens.

  17. State energy price and expenditure report 1989

    International Nuclear Information System (INIS)

    1991-01-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates for the 50 States, the District of Columbia, and the United States. The estimates are provided by energy source (e.g., petroleum, natural gas, coal, and electricity) and by major consuming or economic sector. This report is an update of the State Energy Price and Expenditure Report 1988 published in September 1990. Changes from the last report are summarized in a section of the documentation. Energy price and expenditure estimates are published for the years 1970, 1975, 1980, and 1985 through 1989. Documentation follows the tables and describes how the price estimates are developed, including sources of data, methods of estimation, and conversion factors applied. Consumption estimates used to calculate expenditures, and the documentation for those estimates, are from the State Energy Data Report, Consumption Estimates, 1960--1989 (SEDR), published in May 1991. Expenditures are calculated by multiplying the price estimates by the consumption estimates, adjusted to remove process fuel and intermediate product consumption. All expenditures are consumer expenditures, that is, they represent estimates of money directly spent by consumers to purchase energy, generally including taxes. 11 figs., 43 tabs

  18. State energy price and expenditure report 1989

    Energy Technology Data Exchange (ETDEWEB)

    1991-09-30

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates for the 50 States, the District of Columbia, and the United States. The estimates are provided by energy source (e.g., petroleum, natural gas, coal, and electricity) and by major consuming or economic sector. This report is an update of the State Energy Price and Expenditure Report 1988 published in September 1990. Changes from the last report are summarized in a section of the documentation. Energy price and expenditure estimates are published for the years 1970, 1975, 1980, and 1985 through 1989. Documentation follows the tables and describes how the price estimates are developed, including sources of data, methods of estimation, and conversion factors applied. Consumption estimates used to calculate expenditures, and the documentation for those estimates, are from the State Energy Data Report, Consumption Estimates, 1960--1989 (SEDR), published in May 1991. Expenditures are calculated by multiplying the price estimates by the consumption estimates, adjusted to remove process fuel and intermediate product consumption. All expenditures are consumer expenditures, that is, they represent estimates of money directly spent by consumers to purchase energy, generally including taxes. 11 figs., 43 tabs.

  19. Russian oil prices: courting the world market

    International Nuclear Information System (INIS)

    Khartukov, E.M.

    1995-01-01

    The export and oil pricing of Russian crude was discussed. Russian crude and oil product exports are not yet wholly competitive with world oil markets. It was suggested that to do so, would be neither desirable nor actually possible at present. The reason for this is related to Russia's export duties regime and Russia's trade with its neighbouring countries which include the former Soviet republics. In the first half of 1995, the average border price of crude destined for those countries was US$75.04/tonne as opposed to US$114.77/tonne for crude exported to 'far-abroad', hard-currency markets. A breakdown of Russia's export duties for liquid fuels and a typical breakdown of export and domestic prices for Russian oil was provided. Russian crude is considerably under-priced mainly because of the poor state of the national refining industry which is in need of radical modernization. It was suggested that instead of globalization, it would be more appropriate to redirect the priorities of Russian energy policy towards defining optimal use of Russia's available energy potential, and rationalizing its domestic price structure first, which is the root cause of the national price problem. 5 refs., 5 tabs., 2 figs

  20. Pricing of new vaccines

    OpenAIRE

    Lee, Bruce Y; McGlone, Sarah M

    2010-01-01

    New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following eleven components: (1) Conduct a target population analysis; (2) Map potential competitors and alternatives; (3) Construct a vaccine targe...

  1. Land Prices and Fundamentals

    OpenAIRE

    Koji Nakamura; Yumi Saita

    2007-01-01

    This paper examines the long-term relationship between macro economic fundamentals and the weighted-average land price indicators, which are supposed to be more appropriate than the official land price indicators when analyzing their impacts on the macro economy. In many cases, we find the cointegrating relationships between the weighted-average land price indicators and the discounted present value of land calculated based on the macro economic fundamentals indicators. We also find that the ...

  2. Introduction to pricing issues

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    This chapter provides an overview of pricing issues the proper pricing of transmission services is essential to efficient operation of the grid. Wheeling rights have little meaning if capacity on existing lines is scarce and there is no incentive to build new lines. Depending on the type of transmission pricing policies FERC adopts, the Commission may be able to encourage more voluntary wheeling service, and to influence decisions to build or upgrade the supply of facilities

  3. Cost and Price Collaboration

    Science.gov (United States)

    2016-04-30

    described below which relies on questionnaires administered to subject matter experts in both cost analysis and price analysis to determine the value of...additional reports or data that the price analyst used in determining their final negotiated position. The cost analyst section of the questionnaire...an analysis at the individual element level rather than at a total price level to determine the major changes from the awarded contract to the new

  4. Data feature: Fuel procurement

    International Nuclear Information System (INIS)

    Anon.

    1994-01-01

    This document is a review of the effect of fuel costs on the procurement strategies of a utility and a conjecture that the same strategies may have an effect on the price of fuel. Factors affecting fuel costs are reviewed, and a number of procurement strategies taken to trim fuel costs are reviewed. The major trend is away from long-term enrichment contracts and into such strategies as: (1) Spot market purchases, (2) Inventory reduction, (3) Purchase of CIS material, and (4) Market-related contracts instead of base-escalated contracts

  5. 1988 coal price negotiation

    Energy Technology Data Exchange (ETDEWEB)

    Senmura, Akira

    1988-12-01

    In the negotiation on raw coal price for 1988, which began at the end of 1987, Australia requested price rise of 4 - 5 dollars for the reason of rise of Australian dollars, conditions of mines, price drop in the past five years, and world supply/demand of coal. Japan insisted to maintain the price of preceding year. The talk ended in a dead lock which could last a long time. Negotiation on the Canadian coal price also encountered difficulties but an agreement was obtained in March as Japan accepted the increased price. After which, Japan and Australia agreed to raise the price by 2.90 dollars and an increase over last year. Producing countries also requested a wide price rise as 7.50 dollars for general coal, making in this area very difficult to progress. Finally, they agreed to raise the price by 6.30 dollars and the electric power utility in Japan responded by importing of U.S. coal, which has a lower heat output but is also cheaper. It depends on Australia for 70% of coal supply but started to diversify the source. 3 tabs.

  6. Are internet prices sticky?

    OpenAIRE

    Lünnemann, Patrick; Wintr, Ladislav

    2006-01-01

    This paper studies the behaviour of Internet prices. It compares price rigidities on the Internet and in traditional brick-and-mortar stores and provides a cross-country perspective. The data set covers a broad range of items typically sold over the Internet. It includes more than 5 million daily price quotes downloaded from price comparison web sites in France, Germany, Italy, the UK and the US. The following results emerge from our analysis. First, and contrary to the recent findings for co...

  7. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Méndez, Susan J.; Rønde, Thomas

    2014-01-01

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...... that while our estimated consumer compensating variation is small, the reform led to substantial reductions in list and reference prices as well as co-payments, and to sizeable decreases in overall producer revenues, health care expenditures, and co-payments. These effects differ markedly between branded...

  8. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Méndez, Susan J.; Rønde, Thomas

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...... that while our estimated consumer compensating variation is small, the reform led to substantial reductions in list and reference prices as well as co-payments, and to sizeable decreases in overall producer revenues, health care expenditures, and co-payments. These effects differ markedly between branded...

  9. Alternative pricing methodologies

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    With the increased interest in competitive market forces and growing recognition of the deficiencies in current practices, FERC and others are exploring alternatives to embedded cost pricing. A number of these alternatives are discussed in this chapter. Marketplace pricing, discussed briefly here, is the subject of the next chapter. Obviously, the pricing formula may combine several of these methodologies. One utility of which the authors are aware is seeking a price equal to the sum of embedded costs, opportunity costs, line losses, value of service, FERC's percentage adder formula and a contract service charge

  10. Determinants of contractor pricing strategy

    OpenAIRE

    Moses, O. Douglas

    1988-01-01

    This paper investigates pricing strategies used by major defense contractors. Two pricing strategies are identified and discussed: penetration, which calls for a relatively low initial price followed by little reduction in price over time, and skimming, which calls for a relatively high initial price coupled with greater reduction in price over time. It is argued that contractor pricing strategy will depend on features of the defense program under consideration and featur...

  11. Customizing Prices in Online Markets

    OpenAIRE

    Werner Reinartz

    2002-01-01

    Dynamic pricing is the dynamic adjustment of prices to consumers depending on the value these customers attribute to a good. Underlying the concept of dynamic pricing is what marketers call price customization. Price customization is the charging of different prices to end consumers based on a discriminatory variable. Internet technology will serve as a great enabling tool for making dynamic pricing accessible to many industries.

  12. Biofuel impacts on world food supply: use of fossil fuel, land and water resources

    International Nuclear Information System (INIS)

    Pimentel, D.; Marklein, A.; Toth, M. A.; Karpoff, M.; Paul, G. S.; McCormack, R.; Kyriazis, J.; Krueger, T.

    2008-01-01

    The rapidly growing world population and rising consumption of biofuels are increasing demand for both food and biofuels. This exaggerates both food and fuel shortages. Using food crops such as corn grain to produce ethanol raises major nutritional and ethical concerns. Nearly 60% of humans in the world are currently malnourished, so the need for grains and other basic foods is critical. Growing crops for fuel squanders land, water and energy resources vital for the production of food for human consumption. Using corn for ethanol increases the price of U.S. beef, chicken, pork, eggs, breads, cereals, and milk more than 10% to 30%. (author)

  13. A forward look at power prices in Alberta

    International Nuclear Information System (INIS)

    Reid-Carlson, D.

    1999-01-01

    The various components of the price of electricity, various rate design methodologies, and factors that influence cost-of-service such as types of generation and fuel, age of the physical plant, size of utility, rate of customer and load growth, funding arrangements, tax status, customer mix, and load profile are examined in an effort to predict the future price of electricity in Alberta. The prediction is that delivered prices will increase across all sectors, albeit at levels less than the increase would be without competition. Alberta pool prices in the longer term will continue to reflect the marginal cost of the last generators dispatched to meet the demand. Convergence between electricity spot prices and natural gas prices is predicted to occur over time

  14. Relating price strategies and price-setting practices

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.; Lans, van der I.A.

    2013-01-01

    Purpose - This article addresses the relationship between price strategies and price-setting practices. The first derive from a normative tradition in the pricing literature and the latter from a descriptive tradition. Price strategies are visible in the market, whereas price-setting practices are

  15. Intranational Price Convergence and Price Stickiness

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael; Heebøll, Christian; Hansen, Niels Lynggaard

    2017-01-01

    We show that estimates of the half-life of deviations from LOOP are biased when not taking into account the precision when aggregating over types of goods. Using a comprehensive dataset with monthly price data for 124 homogeneous products across regions in Denmark over the period 1997–2010 we find...... a large positive aggregation bias. On average, we find that the half-life is 8.4 months when taking the bias into account compared to 28.7 months when applying the standard method. The heterogeneity in estimated half-life can be explained by price stickiness, distance between regions and whether the good...

  16. The Swedish wood fuel market

    International Nuclear Information System (INIS)

    Hillring, Bengt

    1999-01-01

    In Sweden, wood fuels are traditionally used in the Swedish forest products industry and for heating of single-family houses. More recently they are also become established as an energy source for district heating and electricity production. Energy policy, especially the energy taxation system, has favoured wood fuels and other biofuels, mainly for environmental reasons. There is now an established commercial market for wood fuels in the district heating sector, which amounts to 45 PJ and is growing 20 per cent annually. Price levels have been stable in current prices for a decade, mainly because of good access to wood fuels. Price levels are dominated by production costs on a market that is largely governed by the buyer. It is expected that the use of wood fuels will increased in Sweden in the future, which will push a further development of this section on the market and bring about technological changes in the area. (Author)

  17. Decrease of energy and emission prices undesired. Unfair attack on CO2-levies

    International Nuclear Information System (INIS)

    Blom, M.; De Keizer, I.; Benner, J.

    2005-01-01

    Recently, in the Netherlands, fuel taxes and prices for CO2 emission are criticised. High energy prices are used to suggest other forms of pricing regulations. However, the higher energy prices and CO2-levies are very useful in realizing a sustainable energy supply. More transparency in the market for emissions trading is required to prevent unfair on-charge expenses of CO2-charges [nl

  18. Do Canadian electricity prices reflect costs?

    International Nuclear Information System (INIS)

    Jaccard, M.

    1993-01-01

    In an article by Cairns and Heyes (1993), it is argued that electricity pricing in Canada diverges from cost due to inter-class rate design that results in cross-subsidies, subsidized cost of capital, intra-class rate design that lacks time-of-use pricing, and failure to collect differential rent. Some problems with the key components of the initial assumption that prices diverge from cost are examined. The premise that inter-class rate design results in cross-subsidies may be correct, but is difficult to test since unregulated crown utilities are not required to make the necessary information public. Cairns and Heyes are on firmer ground in their assertion that provincial government backing of utility debts leads to lower costs of capital than would otherwise occur. Quebec and British Columbia governments have recently undertaken revenue collection initiatives justified under the rationale of addressing this situation. However, there are problems with the assumption that lack of time-of-use pricing indicates cost/price divergence, since such pricing is especially relevant in capacity-critical systems. Most hydroelectric systems are energy-critical and time-of-use differentials are not appropriate. Finally, recent evidence suggests reassessing the differential rent assumptions of the 1980s. The economic rents estimated in that period may be more accurately described as windfall rents existing in the short term while markets adjust to erratic fuel prices and cost changes in nuclear and hydro energy. There may be good economic efficiency arguments against short-term rent collection strategies involving erratic price adjustments. 1 ref

  19. Price learning during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup

    Many attempts have been made to measure consumers' price knowledge for groceries. However, the results have varied considerably and conflict with results of reference price research. This is the first study to examine price knowledge before, during, and after store visit, thus enabling a study...... of what consumers learn about prices during grocery shopping. Three measures of price knowledge corresponding to different levels of price information processing were applied. Results indicate that price learning does take place and that episodic price knowledge after store exit is far more widespread...... than expected. Consequently, a new view of how consumer price knowledge evolves during grocery shopping is presented....

  20. Market power in the market for greenhouse gas emission permits - the interplay with the fossil fuel markets

    International Nuclear Information System (INIS)

    Hagem, Cathrine; Maestad, Ottar

    2002-01-01

    Implementation of the Kyoto Protocol is likely to leave Russia and other Eastern European countries with market power in the market for emission permits. Ceteris paribus, this will raise the permit price above the competitive permit price. However, Russia is also a large exporter of fossil fuels. A high price on emission permits may lower the producer price on fossil fuels. Thus, if Russia co-ordinates its permit market and fossil fuel market policies, market power will not necessarily lead to a higher permit price. Fossil fuel producers may also exert market power in the permit market, provided they conceive the permit price to be influenced by their production volumes. If higher volumes drive up the permit price Russian fuel producers may become more aggressive relative to their competitors in the fuel markets. If the sale of fuels is co-ordinated with the sale of permits. The result is reversed if high fuel production drives the permit price down. (Author)

  1. Market power in the market for greenhouse gas emission permits - the interplay with the fossil fuel markets

    Energy Technology Data Exchange (ETDEWEB)

    Hagem, Cathrine; Maestad, Ottar

    2002-07-01

    Implementation of the Kyoto Protocol is likely to leave Russia and other Eastern European countries with market power in the market for emission permits. Ceteris paribus, this will raise the permit price above the competitive permit price. However, Russia is also a large exporter of fossil fuels. A high price on emission permits may lower the producer price on fossil fuels. Thus, if Russia co-ordinates its permit market and fossil fuel market policies, market power will not necessarily lead to a higher permit price. Fossil fuel producers may also exert market power in the permit market, provided they conceive the permit price to be influenced by their production volumes. If higher volumes drive up the permit price Russian fuel producers may become more aggressive relative to their competitors in the fuel markets. If the sale of fuels is co-ordinated with the sale of permits. The result is reversed if high fuel production drives the permit price down. (Author)

  2. Assessing Asset Pricing Anomalies

    NARCIS (Netherlands)

    W.A. de Groot (Wilma)

    2017-01-01

    markdownabstractOne of the most important challenges in the field of asset pricing is to understand anomalies: empirical patterns in asset returns that cannot be explained by standard asset pricing models. Currently, there is no consensus in the academic literature on the underlying causes of

  3. Poverty and price transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

    A key parameter determining the welfare impact from a world market shock is the transmission elasticity which measures the average domestic response to an international price change. Many studies have estimated price transmission elasticities for a large number of countries but the variation in t...

  4. Essays on asset pricing

    NARCIS (Netherlands)

    Nazliben, Kamil

    2015-01-01

    The dissertation consists of three chapters that represent separate papers in the area of asset pricing. The first chapter studies investors optimal asset allocation problem in which mean reversion in stock prices is captured by explicitly modeling transitory and permanent shocks. The second chapter

  5. Pricing transmission services

    International Nuclear Information System (INIS)

    Haaden, E.

    1995-01-01

    The price structure for transmission of electric power through the main lines in Sweden is analyzed. After deregulation of the electricity market, the main transmission lines are owned by a separate national company, with no interests from the power producers. Comparisons are made to ideal marginal price structures. 6 refs

  6. Selecting Lower Priced Items.

    Science.gov (United States)

    Kleinert, Harold L.; And Others

    1988-01-01

    A program used to teach moderately to severely mentally handicapped students to select the lower priced items in actual shopping activities is described. Through a five-phase process, students are taught to compare prices themselves as well as take into consideration variations in the sizes of containers and varying product weights. (VW)

  7. Petroleum: Price trends

    International Nuclear Information System (INIS)

    Babusiaux, Denis; Pierru, Axel

    2010-01-01

    The Organization of Petroleum-Exporting Countries (OPEC), some political leaders and financiers have mainly attributed the price spike of oil in 2008 - followed by a just as spectacular drop in prices - to the speculative moves made by financial investors on the futures market instead of to market fundamentals

  8. Pricing Mechanism in Information Goods

    OpenAIRE

    Li, Xinming; Wang, Huaqing

    2018-01-01

    We study three pricing mechanisms' performance and their effects on the participants in the data industry from the data supply chain perspective. A win-win pricing strategy for the players in the data supply chain is proposed. We obtain analytical solutions in each pricing mechanism, including the decentralized and centralized pricing, Nash Bargaining pricing, and revenue sharing mechanism.

  9. Price Formation by Bargaining and Posted Prices

    NARCIS (Netherlands)

    Kultti, K.K.

    1997-01-01

    We study markets with two types of agents. Sellers have an indivisible good for sale, and their reservation value is zero. Buyers are randomly matched with sellers, and they value the good at unity. Sellers may be matched with any positive number of buyers, and they may choose to determine the price

  10. How to Find the Price That's Right.

    Science.gov (United States)

    Crompton, John L.

    1981-01-01

    Five primary methods used by recreation and park agencies to establish a price are reviewed: (1) going-rate pricing; (2) demand oriented pricing; (3) variable cost pricing; (4) partial overhead pricing; and (5) average cost pricing. (CJ)

  11. Policy on energy pricing

    Energy Technology Data Exchange (ETDEWEB)

    Webb, M. G.

    1977-10-15

    Some economic principles of energy pricing in a market type economy in which there is consumer sovereignty are discussed. Thus resources will be allocated via the production processes in line with the preferences of consumers as revealed by their purchases of goods and services. Prices play the crucial role of coordinating instruments in this allocative process. It is assumed that all the energy industries are in the public sector. The following topics are discussed: the specification of objectives for the energy sector; marginal cost pricing; problems associated with the measurement of marginal costs; some aspects of the environmental costs associated with energy production and use, and some issues related to time differentiated tariffs; the modification of prices to achieve financial targets; and the use of energy prices to achieve income distribution objectives.

  12. Fuel demand in Brazil in a dynamic panel data approach

    International Nuclear Information System (INIS)

    Santos, Gervásio F.

    2013-01-01

    The purpose of this paper is to evaluate the sensitivity of fuel consumers regarding price and income, taking recent changes in the Brazilian fuel market into account. In this market, new market rules, energy policy towards fuel diversification and introduction of flex-fuel engines have determined fuel competition among gasoline, ethanol and compressed natural gas. Using a dynamic panel data model, demand equations for these three fuels are econometrically estimated to obtain consumer adjustment coefficients, price, cross-price and income elasticities in the short and long-run. In addition, the effect of the introduction of flex-fuel engines in the market and the rationality of consumers towards efficiency constraints of the engines were tested. Apart from considerable competition, results show that the dynamics of the Brazilian fuel market revolves around ethanol instead of gasoline. While demands for gasoline and natural gas are inelastic to price, demand for ethanol is elastic in Brazil. Furthermore, after the introduction of the flex-fuel technology the sensitivity of consumers to fuel prices changed, and ethanol consumers take efficiency constrains into account when ethanol prices reach the threshold of 70% of gasoline prices. - Highlights: ► Fuel demand in Brazil is evaluated, considering the changes in the fuel market. ► A dynamic panel data model is used to fit demand equations for fuels. ► Adjustment coefficients, price, cross-price and income elasticities are estimated. ► The impact of flex-fuel technology on the consumer behavior is tested. ► The results showed that the dynamic of the fuel market revolves around ethanol. ► The flex-fuel technology increased the competition among fuels

  13. Oil prices and the stock prices of alternative energy companies

    International Nuclear Information System (INIS)

    Henriques, Irene; Sadorsky, Perry

    2008-01-01

    Energy security issues coupled with increased concern over the natural environment are driving factors behind oil price movements. While it is widely accepted that rising oil prices are good for the financial performance of alternative energy companies, there has been relatively little statistical work done to measure just how sensitive the financial performance of alternative energy companies are to changes in oil prices. In this paper, a four variable vector autoregression model is developed and estimated in order to investigate the empirical relationship between alternative energy stock prices, technology stock prices, oil prices, and interest rates. Our results show technology stock prices and oil prices each individually Granger cause the stock prices of alternative energy companies. Simulation results show that a shock to technology stock prices has a larger impact on alternative energy stock prices than does a shock to oil prices. These results should be of use to investors, managers and policy makers. (author)

  14. Risk and investment in the fuel cell industry

    International Nuclear Information System (INIS)

    Henriques, I.; Sadorsky, P.

    2004-01-01

    The energy industry is one of the building blocks of the new economy. Currently, the global energy industry is going through a transformation from high carbon content fuels like crude oil to less carbon content fuels like natural gas and hydrogen. Fuel cells are the backbone of the hydrogen economy. Advances in fuel cell technology have the potential to improve the living standards of people in all countries. New sources of financial capital, however, remain a problem. In the fuel cell industry, the future of a firm often depends upon the success or failure of a few key products. This tends to make these firms very risky to invest in and, as a result, makes it difficult for these firms to secure financial investment capital. Oil price movements remain one very important source of risk to fuel cell companies. Conventional wisdom suggests that higher oil prices stimulate interest in alternative energy sources like fuel cells and the stock prices of publicly traded fuel cell companies tend to perform well when oil prices are high. Lower oil prices, however, have the opposite effect. Consequently, oil price movements may affect the rates of return of the companies currently in the fuel cell industry. In this paper, we empirically analyze the stock price sensitivity of a sample of fuel cell companies to oil price risk. In particular, we look at both the impact and magnitude of oil price changes on fuel cell stock prices. Both symmetric and asymmetric oil price changes are considered. Our results indicate that oil price risk is not an important source of risk that impacts the equity returns of fuel cell companies. We find that market risk factors are much more important. We then offer suggestions on how to manage this risk. These results are useful for managers, investors, policy makers, and others who are interested in the strategic management, financing and risk management of firms building the hydrogen economy. (author)

  15. Mind your pricing cues.

    Science.gov (United States)

    Anderson, Eric; Simester, Duncan

    2003-09-01

    For most of the items they buy, consumers don't have an accurate sense of what the price should be. Ask them to guess how much a four-pack of 35-mm film costs, and you'll get a variety of wrong answers: Most people will underestimate; many will only shrug. Research shows that consumers' knowledge of the market is so far from perfect that it hardly deserves to be called knowledge at all. Yet people happily buy film and other products every day. Is this because they don't care what kind of deal they're getting? No. Remarkably, it's because they rely on retailers to tell them whether they're getting a good price. In subtle and not-so-subtle ways, retailers send signals to customers, telling them whether a given price is relatively high or low. In this article, the authors review several common pricing cues retailers use--"sale" signs, prices that end in 9, signpost items, and price-matching guarantees. They also offer some surprising facts about how--and how well--those cues work. For instance, the authors' tests with several mail-order catalogs reveal that including the word "sale" beside a price can increase demand by more than 50%. The practice of using a 9 at the end of a price to denote a bargain is so common, you'd think customers would be numb to it. Yet in a study the authors did involving a women's clothing catalog, they increased demand by a third just by changing the price of a dress from $34 to $39. Pricing cues are powerful tools for guiding customers' purchasing decisions, but they must be applied judiciously. Used inappropriately, the cues may breach customers' trust, reduce brand equity, and give rise to lawsuits.

  16. Value based pricing: the least valued pricing strategy

    OpenAIRE

    Hoenen, Bob

    2017-01-01

    Pricing has been one of the least researched topics in marketing, although within these pricing strategies: cost-plus pricing is considered as the leading pricing strategy worldwide. Why should companies use such an unprofitable strategy, where fighting for a higher market share due to low prices is more a rule than exception? VBP is one of the most underestimated strategies by organizations. The definition of VBP is: 'value pricing applies to products that have the potential of being differe...

  17. Oil Prices and the Renewable Energy Sector

    OpenAIRE

    Kyritsis, Evangelos; Serletis, Apostolos

    2017-01-01

    Energy security, climate change, and growing energy demand issues are moving up on the global political agenda, and contribute to the rapid growth of the renewable energy sector. In this paper we investigate the effects of oil price shocks, and also of uncertainty about oil prices, on the stock returns of clean energy and technology companies. In doing so, we use monthly data that span the period from May 1983 to December 2016, and a bivariate structural VAR model that is modified to accommod...

  18. 7 CFR 1124.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1124.50 Section 1124.50 Agriculture Regulations of the Department of Agriculture (Continued... prices, and advanced pricing factors. See § 1000.50. ...

  19. 7 CFR 1030.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1030.50 Section 1030.50 Agriculture Regulations of the Department of Agriculture (Continued... prices, and advanced pricing factors. See § 1000.50. ...

  20. 7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... advanced pricing factors. 1000.53 Section 1000.53 Agriculture Regulations of the Department of Agriculture..., component prices, and advanced pricing factors. (a) On or before the 5th day of the month, the market... administrator for each Federal milk marketing order shall announce the following prices and pricing factors for...

  1. Pricing American and Asian Options

    OpenAIRE

    Pat Muldowney

    2015-01-01

    An analytic method for pricing American call options is provided; followed by an empirical method for pricing Asian call options. The methodology is the pricing theory presented in "A Modern Theory of Random Variation", by Patrick Muldowney, 2012.

  2. Pricing of new vaccines.

    Science.gov (United States)

    Lee, Bruce Y; McGlone, Sarah M

    2010-08-01

    New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical, and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following ten components: 1. Conduct a target population analysis; 2. Map potential competitors and alternatives; 3. Construct a vaccine target product profile (TPP) and compare it to projected or actual TPPs of competing vaccines; 4. Quantify the incremental value of the new vaccine's characteristics; 5. Determine vaccine positioning in the marketplace; 6. Estimate the vaccine price-demand curve; 7. Calculate vaccine costs (including those of manufacturing, distribution, and research and development); 8. Account for various legal, regulatory, third party payer, and competitor factors; 9. Consider the overall product portfolio; 10. Set pricing objectives; 11. Select pricing and pricing structure. While the biomedical literature contains some studies that have addressed these components, there is still considerable room for more extensive evaluation of this important area.

  3. Prospects for oil prices

    International Nuclear Information System (INIS)

    Stevens, P.

    1992-01-01

    The basic argument presented is that the oil price is set in an administrated market. The administration is undertaken by the controllers of excess capacity to produce crude oil. The extent to which the administrated price matches the market price is a function, first, of the strength and effectiveness of the market controller and, secondly, of the state of supply and demand and expectations in the market. Currently, the market is operating close to capacity, what limited excess capacity exists is located mainly in Saudi Arabia and the Saudi Arabians appear to be following a low price objective. While the Saudi Arabians pursue volume, the short term project, in the balance of a political upheaval, is that oil prices will remain below the $21 per barrel agreed in July 1990. There is a view that Saudi Arabia would take quick action to reverse a price collapse, but attention is drawn to previous miscalculations with respect to price collapse. Should political circumstances allow the return of Iraq to the oil market, then excess capacity within the Gulf members of OPEC will return and control will be much more difficult. (UK)

  4. Pricing of new vaccines

    Science.gov (United States)

    McGlone, Sarah M

    2010-01-01

    New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following eleven components: (1) Conduct a target population analysis; (2) Map potential competitors and alternatives; (3) Construct a vaccine target product profile (TPP) and compare it to projected or actual TPPs of competing vaccines; (4) Quantify the incremental value of the new vaccine's characteristics; (5) Determine vaccine positioning in the marketplace; (6) Estimate the vaccine price-demand curve; (7) Calculate vaccine costs (including those of manufacturing, distribution, and research and development); (8) Account for various legal, regulatory, third party payer and competitor factors; (9) Consider the overall product portfolio; (10) Set pricing objectives; (11) Select pricing and pricing structure. While the biomedical literature contains some studies that have addressed these components, there is still considerable room for more extensive evaluation of this important area. PMID:20861678

  5. Prospects for oil prices

    International Nuclear Information System (INIS)

    Caddy, P.

    1992-01-01

    It is argued that the wave in oil prices which occurred in 1991, although appearing to suggest price instability, in fact shows the opposite. Steady oscillation between a low price level that leads to new customers and a high price that encourages customers to switch to alternatives is a sign of a stable market. This relative stability was achieved against the background of the political upheaval in the USSR and Eastern Europe and its unpredictable consequences. Such political uncertainties to one side, the difficulties of assessing demand trends in the light of the imponderables of the state of the world economy and the weather are stressed. Despite these problems, the view is expressed that correct reading of signals up the supply chain by producers should ensure continued relative price stability. This is not to say that prices will stay exactly the same, just that they will be bound within a trading range set by anticipated consumer and producer responses to the fluctuating prices. (UK)

  6. The price for biofuels sustainability

    International Nuclear Information System (INIS)

    Pacini, Henrique; Assunção, Lucas; Dam, Jinke van; Toneto, Rudinei

    2013-01-01

    The production and usage of biofuels has increased worldwide, seeking goals of energy security, low-carbon energy and rural development. As biofuels trade increased, the European Union introduced sustainability regulations in an attempt to reduce the risks associated with biofuels. Producers were then confronted with costs of sustainability certification, in order to access the EU market. Hopes were that sustainably-produced biofuels would be rewarded with higher prices in the EU. Based on a review of recent literature, interviews with traders and price data from Platts, this paper explores whether sustainability premiums emerged and if so, did they represent an attracting feature in the market for sustainable biofuels. This article finds that premiums for ethanol and biodiesel evolved differently between 2011 and 2012, but have been in general very small or inexistent, with certified fuels becoming the new norm in the market. For different reasons, there has been an apparent convergence between biofuel policies in the EU and the US. As market operators perceive a long-term trend for full certification in the biofuels market, producers in developing countries are likely to face additional challenges in terms of finance and capacity to cope with the sustainability requirements. - Highlights: • EU biofuel sustainability rules were once thought to reward compliant producers with price-premiums. • Premiums for certified biofuels, however, have been small for biodiesel and almost non-existent for ethanol. • As sustainable biofuels became the new norm, premiums disappeared almost completely in 2012. • Early stages of supply chains concentrate the highest compliance costs, affecting specially developing country producers. • Producers are now in a market where sustainable biofuels have become the new norm

  7. Asset Pricing - A Brief Review

    OpenAIRE

    Li, Minqiang

    2010-01-01

    I first introduce the early-stage and modern classical asset pricing and portfolio theories. These include: the capital asset pricing model (CAPM), the arbitrage pricing theory (APT), the consumption capital asset pricing model (CCAPM), the intertemporal capital asset pricing model (ICAPM), and some other important modern concepts and techniques. Finally, I discuss the most recent development during the last decade and the outlook in the field of asset pricing.

  8. Stochastic arbitrage return and its implication for option pricing

    Science.gov (United States)

    Fedotov, Sergei; Panayides, Stephanos

    2005-01-01

    The purpose of this work is to explore the role that random arbitrage opportunities play in pricing financial derivatives. We use a non-equilibrium model to set up a stochastic portfolio, and for the random arbitrage return, we choose a stationary ergodic random process rapidly varying in time. We exploit the fact that option price and random arbitrage returns change on different time scales which allows us to develop an asymptotic pricing theory involving the central limit theorem for random processes. We restrict ourselves to finding pricing bands for options rather than exact prices. The resulting pricing bands are shown to be independent of the detailed statistical characteristics of the arbitrage return. We find that the volatility “smile” can also be explained in terms of random arbitrage opportunities.

  9. Inflation and the price of oil in Canada

    Energy Technology Data Exchange (ETDEWEB)

    Globerman, S A [York Univ., Toronto; Bruce, H A

    1976-09-01

    A current policy concern in North America is how rapidly (if at all) domestic oil prices should be allowed to rise to world levels. An argument frequently used by those advocating control of domestic prices is that further increases in oil prices would impose undue burdens in the form of greater inflation and unemployment. While long-run costs associated with allocative inefficiencies are recognized, critics of policies calling for decontrolling domestic oil prices argue that the short-run costs associated with greater inflation and higher unemployment outweigh the long-run inefficiencies associated with price controls. Estimates of the impacts of increased oil costs are not easy. Three studies by Ontario on the consumer price index are described, and the authors conclude that the figures from these studies are too high. Some results of U.S. studies are cited. (MCW)

  10. Canadian natural gas market dynamics and pricing : an update

    International Nuclear Information System (INIS)

    2002-10-01

    This energy market assessment (EMA) report discusses natural gas price formation and describes the current functioning of regional gas markets in Canada. This EMA also describes the factors affecting the price of natural gas in Canada and examines natural gas markets on a region-by region basis. It is shown that as part of an integrated North American market, prices of natural gas in Canada reflect supply and demand factors in both Canada and the United States. During the low oil price period of 1997/1998, high demand for natural gas outpaced the supply because of low drilling and production activity by producers. In response to the increased demand and lower levels of supply, the price of natural gas increased significantly in 1999 and 2000. This was followed by a period of market adjustment. The importance of electronic trading systems for enhancing price discovery was also discussed with reference to how spot and futures markets allow market participants to manage price volatility. It was determined that Canadians have had access to natural gas on terms and conditions equal to export customers, and at equal pricing. In early November 2000, natural gas prices in North American began to rise due to low levels of natural gas in storage. The price shocks were felt unevenly across the North American market. In response to the high prices, consumers conserved energy use, and many industrial users switched to cheaper fuels. By the spring 2001, demand continued to decrease at a time when production was high. These factors contributed to the downward pressure on gas prices. This EMA discusses the structure of market transactions and market adjustment mechanisms. It is presented in the context of the approaching 2002/2003 winter season where the tightening between natural gas supply and demand is expected to result in price volatility. 28 figs

  11. Price Competition on Graphs

    OpenAIRE

    Adriaan R. Soetevent

    2010-01-01

    This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. I propose an algorithm to calculate firm-level demand for any given graph, conditional on prices and firm locations. One feature of graph models of price competition is that spatial discontinuities in firm-level demand may occur. I show that the existence result of D'Aspremont et al. (1979) does not extend to simple star graphs. I conjecture that this non-existence result holds...

  12. Price Competition on Graphs

    OpenAIRE

    Pim Heijnen; Adriaan Soetevent

    2014-01-01

    This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. We derive an algorithm to calculate firm-level demand for any given graph, conditional on prices and firm locations. These graph models of price competition may lead to spatial discontinuities in firm-level demand. We show that the existence result of D'Aspremont et al. (1979) does not extend to simple star graphs and conjecture that this non-existence result holds more general...

  13. House Prices and Taxes

    DEFF Research Database (Denmark)

    Gjedsted Nielsen, Mads

    This paper is the first to consider a large scale natural experiment to estimate the effect of taxes on house prices. We find that a 1 percentage-point increase in income tax rates lead to a drop in house prices of at most 2.2%. This corresponds to a tax capitalization for the average household...... capitalization from earlier studies. Furthermore, we find no effect of property taxes on house prices. We attribute this to the low levels of Danish municipal property tax rates compared to income tax rates....

  14. Facile and rapid auto-combustion synthesis of nano-porous γ-Al2O3 by application of hexamethylenetetramine in fuel composition

    Science.gov (United States)

    Salem, Shiva; Salem, Amin; Parni, Mohammad Hosein; Jafarizad, Abbas

    2018-06-01

    In this article, urea, glycine and hexamethylenetetramine were blended in accordance with the mixture design algorithm to prepare γ-Al2O3 by auto-combustion technique. Aluminum nitrate was then mixed with the stoichiometric contents of prepared fuel solutions to obtain gel systems. The gels exhibited a typical self-propagating combustion behavior at low temperature, directly resulting amorphous materials. The precursors were calcined at various temperatures ranging from 700 to 900 °C. The treated powders were evaluated by determining the methylene blue (MB) adsorption efficiency. The production condition to obtain γ-Al2O3 with maximum surface area depends on fuel composition and calcination temperature. The alumina powder fabricated by this procedure was uniformly distributed and contains nano-sized secondary particles with diameter about 10-30 nm in which the average pore size is 3.2 nm induced large surface area, 240 m2g-1. The employment of hexamethylenetetramine provides a potential for synthesis of γ-Al2O3 at lower temperature, 700 °C, with maximum MB removal efficiency.

  15. Vertical integration in the nuclear fuel cycle

    International Nuclear Information System (INIS)

    Mommsen, J.T.

    1977-01-01

    Vertical integration in the nuclear fuel cycle and its contribution to market power of integrated fuel suppliers were studied. The industry subdivision analyzed is the uranium raw materials sector. The hypotheses demonstrated are that (1) this sector of the industry is trending toward vertical integration between production of uranium raw materials and the manufacture of nuclear fuel elements, and (2) this vertical integration confers upon integrated firms a significant market advantage over non-integrated fuel manufacturers. Under microeconomic concepts the rationale for vertical integration is the pursuit of efficiency, and it is beneficial because it increases physical output and decreases price. The Market Advantage Model developed is an arithmetical statement of the relative market power (in terms of price) between non-integrated nuclear fuel manufacturers and integrated raw material/fuel suppliers, based on the concept of the ''squeeze.'' In operation, the model compares net profit and return on sales of nuclear fuel elements between the competitors, under different price and cost circumstances. The model shows that, if integrated and non-integrated competitors sell their final product at identical prices, the non-integrated manufacturer returns a net profit only 17% of the integrated firm. Also, the integrated supplier can price his product 35% below the non-integrated producer's price and still return the same net profit. Vertical integration confers a definite market advantage to the integrated supplier, and the basic source of that advantage is the cost-price differential of the raw material, uranium

  16. Price determination for hydrogen produced from bio-ethanol in Argentina

    International Nuclear Information System (INIS)

    Gregorini, V.A.; Pasquevich, D.; Laborde, M.

    2010-01-01

    A massive penetration for hydrogen as a fuel vector requires a price reduction against fossil fuels (up to lower or at less equal to current prices). That is why it is important to calculate the current prices, so that we can determinate the gap between them and work in reducing them. In order to follow properly prices evolution it is necessary been able to compare data generated by Universities, Laboratories and Industries. So that, DOE creates in 2003 a tool (H2A) to determine prices for hydrogen, with some assumptions and pre defined values, to facilitate transparency and consistency of data. In this work we will use the H2A tool to calculate de price of hydrogen produced in a bio-ethanol semi-industrial Plant in Argentina, and we will compare it with the prices of USA studies. (author)

  17. Winter fuels report

    International Nuclear Information System (INIS)

    1995-01-01

    The Winter Fuels Report is intended to provide concise, timely information to the industry, the press, policymakers, consumers, analysts, and State and local governments on the following topics: distillate fuel oil net production, imports and stocks on a US level and for all Petroleum Administration for Defense Districts (PADD) and product supplied on a US level; propane net production, imports and stocks on a US level and for PADD's I, II, and III; natural gas supply and disposition and underground storage for the US and consumption for all PADD's, as well as selected National average prices; residential and wholesale pricing data for heating oil and propane for those States participating in the joint Energy Information Administration (EIA)/State Heating Oil and Propane Program; crude oil and petroleum price comparisons for the US and selected cities; and a 6-10 day, 30-Day, and 90-Day outlook for temperature and precipitation and US total heating degree-days by city

  18. 77 FR 59458 - Regulation of Fuels and Fuel Additives: 2013 Biomass-Based Diesel Renewable Fuel Volume

    Science.gov (United States)

    2012-09-27

    ... gasoline and diesel fuel or renewable fuels such as ethanol and biodiesel. Potentially regulated categories... of Biodiesel 1. Grease and Rendered Fats 2. Corn Oil 3. Soybean Oil 4. Effects on Food Prices 5.... Deliverability and Transport Costs of Materials, Goods, and Products Other Than Renewable Fuel 6. Wetlands...

  19. The ties between natural gas and oil prices

    International Nuclear Information System (INIS)

    Maisonnier, G.

    2006-01-01

    On the European continent, the price of natural gas is still tied directly and to a great extent to the price of competing energies, especially heavy fuel oil and home heating oil. In other words, the gas market is linked to the oil market. Under the effect of deregulation, this model is likely to change in the future, making a shift like that which took place on the American market in the past. (author)

  20. Edgeworth Price Cycles, Cost-Based Pricing, and Sticky Pricing in Retail Gasoline Markets

    OpenAIRE

    Michael D. Noel

    2007-01-01

    This paper examines dynamic pricing behavior in retail gasoline markets for 19 Canadian cities over 574 weeks. I find three distinct retail pricing patterns: 1. cost-based pricing, 2. sticky pricing, and 3. steep, asymmetric retail price cycles that, while seldom documented empirically, resemble those of Maskin & Tirole[1988]. Using a Markov switching regression, I estimate the prevalence of patterns and the structural characteristics of the cycles. Retail price cycles prevail in over 40% of ...

  1. Uranium price reporting systems

    International Nuclear Information System (INIS)

    1987-09-01

    This report describes the systems for uranium price reporting currently available to the uranium industry. The report restricts itself to prices for U 3 O 8 natural uranium concentrates. Most purchases of natural uranium by utilities, and sales by producers, are conducted in this form. The bulk of uranium in electricity generation is enriched before use, and is converted to uranium hexafluoride, UF 6 , prior to enrichment. Some uranium is traded as UF 6 or as enriched uranium, particularly in the 'secondary' market. Prices for UF 6 and enriched uranium are not considered directly in this report. However, where transactions in UF 6 influence the reported price of U 3 O 8 this influence is taken into account. Unless otherwise indicated, the terms uranium and natural uranium used here refer exclusively to U 3 O 8 . (author)

  2. AKRO: Standard Prices

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Standard prices are generated for cost recovery programs in the Individual Fishing Quota (IFQ) halibut and sablefish, BSAI Rationalized crab, and Central Gulf of...

  3. Price of military uranium

    International Nuclear Information System (INIS)

    Klimenko, A.V.

    1998-01-01

    The theoretical results about optimum strategy of use of military uranium confirmed by systems approach accounts are received. The numerical value of the system approach price of the highly enriched military uranium also is given

  4. Pricing and Fee Management.

    Science.gov (United States)

    Fischer, Richard B.

    1986-01-01

    Defines key terms and discusses things to consider when setting fees for a continuing education program. These include (1) the organization's philosophy and mission, (2) certain key variables, (3) pricing strategy options, and (4) the test of reasonableness. (CH)

  5. The price of pollution

    International Nuclear Information System (INIS)

    Bleijenberg, A.N.; Davidson, M.D.; Wit, R.

    1998-06-01

    The market does not create a price for environmental pollution for the simple reason that there is no market for the environment. What can be done is to calculate shadow prices for environmental pollution, which is achieved by calculating the price that would arise if there would be a market for the environment. In applying this method, it generally proves to be necessary to base calculations on government environmental targets. Using available research data, the method is used to calculate shadow prices for a number of key pollutants. The present report is based on the CE studies 'Schaduwprijzen Prioriterings Methodiek (SPM)' (1997), commissioned by ICI Holland BV, and 'De prijs van Milieuvervuiling' (1997), commissioned by KNP BT Packaging

  6. Variable Pricing Feasibility Assessment

    National Research Council Canada - National Science Library

    2004-01-01

    ...) and Willard Bishop Consulting (Barrington, IL) to evaluate the practicality of using a variable pricing system within DeCA to maintain an average of 30 percent customer savings and lower appropriated fund costs...

  7. Market News Price Dataset

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Real-time price data collected by the Boston Market News Reporter. The NOAA Fisheries' "Fishery Market News" began operations in New York City on February 14, 1938....

  8. Essays on Derivatives Pricing

    DEFF Research Database (Denmark)

    Kokholm, Thomas

    . With the existence of a liquid market for derivatives with variance as underlying, such as VIX options, VIX futures and a well-developed over-the-counter market for options on variance swaps, it is important to consider models that are able to fit these markets while consistently pricing vanilla options...... financial models, and most importantly, to be aware of their limitations. Following that belief, this thesis consists of three independent and self-contained papers, all dealing with topics in derivatives pricing. The first paper considers the pricing of traffic light options, which are appropriate...... the market for multivariate credit instruments, we take a step back and focus on single-name default modeling and introduce two new model classes for modeling of the default time of a company. Finally, in the third paper we propose a consistent pricing model for index and volatility derivatives...

  9. Price-Transparency and Cost Accounting

    Science.gov (United States)

    Eakin, Cynthia; Fischer, Katrina

    2015-01-01

    Health care reform is directed toward improving access and quality while containing costs. An essential part of this is improvement of pricing models to more accurately reflect the costs of providing care. Transparent prices that reflect costs are necessary to signal information to consumers and producers. This information is central in a consumer-driven marketplace. The rapid increase in high deductible insurance and other forms of cost sharing incentivizes the search for price information. The organizational ability to measure costs across a cycle of care is an integral component of creating value, and will play a greater role as reimbursements transition to episode-based care, value-based purchasing, and accountable care organization models. This article discusses use of activity-based costing (ABC) to better measure the cost of health care. It describes examples of ABC in health care organizations and discusses impediments to adoption in the United States including cultural and institutional barriers. PMID:25862425

  10. The ethics and economics of pharmaceutical pricing.

    Science.gov (United States)

    Parker-Lue, Sara; Santoro, Michael; Koski, Greg

    2015-01-01

    The cost of drugs is a major and rapidly rising component of health-care expenditures. We survey recent literature on the ethics and economics of skyrocketing pharmaceutical prices and find that advances in economic research have increased the sharpness and focus of the ethically based calls to increase access by modifying patent protection and reducing prices. In some cases, research supports ethical arguments for broader access. Other research suggests that efforts to broaden access result in unintended consequences for innovation and the medical needs of patients. Both ethicists and economists need to be more cognizant of the real clinical settings in which physicians practice medicine with real patients. Greater cross-disciplinary interaction among economists, ethicists, and physicians can help reduce the disjunction between innovation and access and improve access and patient care. This dialogue will impact private industry and may spur new multistakeholder paradigms for drug discovery, development, and pricing.

  11. China on the move: Oil price explosion?

    International Nuclear Information System (INIS)

    Skeer, Jeffrey; Wang Yanjia

    2007-01-01

    Rapid expansion of highway and jet traffic in China has created a surge of demand for oil products, putting pressure on world energy markets and petroleum product prices. This paper examines trends in freight and passenger traffic to assess how growth in China's transport demand relates to growth in China's economy, as well as the energy intensity of transport. Based on assumptions about demand elasticity and energy intensity, a range of scenarios is developed for China's oil demand through 2020. Incremental oil demand from China's transport sector is then compared with world oil demand projections to assess the likely impact on world oil prices. The finding is that new demand from China's transport sector would likely raise world oil prices in 2020 by 1-3% in reference scenarios or by 3-10% if oil supply investment is constrained

  12. Price-Transparency and Cost Accounting

    Directory of Open Access Journals (Sweden)

    Peter Hilsenrath PhD

    2015-04-01

    Full Text Available Health care reform is directed toward improving access and quality while containing costs. An essential part of this is improvement of pricing models to more accurately reflect the costs of providing care. Transparent prices that reflect costs are necessary to signal information to consumers and producers. This information is central in a consumer-driven marketplace. The rapid increase in high deductible insurance and other forms of cost sharing incentivizes the search for price information. The organizational ability to measure costs across a cycle of care is an integral component of creating value, and will play a greater role as reimbursements transition to episode-based care, value-based purchasing, and accountable care organization models. This article discusses use of activity-based costing (ABC to better measure the cost of health care. It describes examples of ABC in health care organizations and discusses impediments to adoption in the United States including cultural and institutional barriers.

  13. ASPECTS OF REGIONAL COMPETITIVENESS THROUGH DYNAMIC PRICES OF PETROLEUM PRODUCTS

    Directory of Open Access Journals (Sweden)

    Daniela\tENACHESCU

    2015-06-01

    Full Text Available This paper presents aspects regarding the dynamics of prices of petroleum products: gasoline and diesel in Romania in the period 2003(2007-2014. Both focus on relationship-price raw material and finished product by the impact of market prices. Given that the price of fuel is a key factor in economic development but also in the living of population, this paper has proposed to analyze some aspects of the dynamics of prices of petroleum products in correlation with commodity prices in a competitive market in 2003 -2014. In the analized period, price of oil barrel has a dynamics substantially influenced by the global political turbulences but also by lower oil demand due to consumption reduction, especially lately. Increases and decreases were abrupt and unpredictable in the early years of the first decade of the XXI century. Political crises in the Middle East, the economic crisis started in 2007 and especially the crisis in Ukraine and policies adopted by the EU and the US have led to extremely large fluctuations in oil prices from one period to another . This dynamic will only cover the price of petroleum products namely gazoline and diesel for vehicles.

  14. Midsouth Pulpwood Prices, 1991

    Science.gov (United States)

    Patrick E. Miller

    1993-01-01

    The average delivered price for a cord of Midsouth roundwood in 1991 was $56.39, an increase of 6.5 percent since 1990. Softwood roundwood averaged $58.24 and hardwoods, $50.48 per standard cord, up 2.8 and 7.9 percent, respectively. Chipped residue prices were $26.52 for softwood and $21.0l for hardwood per green ton. The expenditure for wood fiber in the Midsouth...

  15. New product pricing

    International Nuclear Information System (INIS)

    Wilkinson, V.K.

    1981-01-01

    One of the most uncertain elements in budget planning is estimating production costs of items that have heretofore only been produced in prototype configurations and quantities. This paper examines the design and development of a mathematical model which computes appropriate prices for new and unique products. The resulting model offers a producer a fair return on his investment and the consumer a fair purchase price

  16. Corporate debt pricing I.

    OpenAIRE

    Ilya, Gikhman

    2007-01-01

    In this article we discuss fundamentals of the debt securities pricing. We begin with a generalization of the present value concept. Though the present value is the base valuation method in the modern finance we will illustrate that this concept does not sufficiently accurate in producing instrument pricing. The incompleteness of the unique present value approach stems from variability of the interest rates. Admitting variability of the interest rates we define two present values one for buye...

  17. Oil price volatility and the asymmetric response of gasoline prices to oil price increases and decreases

    International Nuclear Information System (INIS)

    Radchenko, S.

    2005-01-01

    This paper analyzes the effect of volatility in oil prices on the degree of asymmetry in the response of gasoline prices to oil price increases and decreases. Several time series measures of the asymmetry between the responses of gasoline prices to oil price increases and decreases and several measures of the oil price volatility are constructed. In all models, the degree of asymmetry in gasoline prices declines with an increase in oil price volatility. The results support the oligopolistic coordination theory as a likely explanation of the observed asymmetry and are not consistent with the standard search theory and the search theory with Bayesian updating. (author)

  18. Price Recall, Bertrand Paradox and Price Dispersion With Elastic Demand

    NARCIS (Netherlands)

    Carvalho, M.

    2009-01-01

    This paper studies the consequence of an imprecise recall of the price by the consumers in the Bertrand price competition model for a homogeneous good. It is shown that firms can exploit this weakness and charge prices above the competitive price. This markup increases for rougher recall of the

  19. Why do stumpage prices increase more than lumber prices?

    Science.gov (United States)

    William G. Luppold; John E. Baumgras; John E. Baumgras

    1998-01-01

    Every sawmiller who has been in business more than 5 years realizes that hardwood stumpage prices tend to increase faster than lumber prices, decreasing the margin between these two prices. Although increases in stumpage versus lumber prices are readily apparent, the reason for the decrease in the margin is not. Recent research findings indicate that the stumpage/...

  20. Analyzing the effects of past prices on reference price formation

    NARCIS (Netherlands)

    R.D. van Oest (Rutger); R. Paap (Richard)

    2004-01-01

    textabstractWe propose a new reference price framework for brand choice. In this framework, we employ a Markov-switching process with an absorbing state to model unobserved price recall of households. Reference prices result from the prices households are able to remember. Our model can be used to

  1. Higher Education Prices and Price Indexes. 1976 Supplement.

    Science.gov (United States)

    Halstead, Kent D.

    The 1976 supplement presents higher education price index data for fiscal years 1971 through 1976. The basic study, "Higher Education Prices and Price Indexes" (ED 123 996) presents complete descriptions of the indexes together with index values and price data for fiscal years 1961 through 1974. Indexes are presented for research and development,…

  2. Forecasting Day-Ahead Electricity Prices : Utilizing Hourly Prices

    NARCIS (Netherlands)

    E. Raviv (Eran); K.E. Bouwman (Kees); D.J.C. van Dijk (Dick)

    2013-01-01

    textabstractThe daily average price of electricity represents the price of electricity to be delivered over the full next day and serves as a key reference price in the electricity market. It is an aggregate that equals the average of hourly prices for delivery during each of the 24 individual

  3. 2010 Fuel Cell Technologies Market Report, June 2011

    Energy Technology Data Exchange (ETDEWEB)

    2011-06-01

    This report summarizes 2010 data on fuel cells, including market penetration and industry trends. It also covers cost, price, and performance trends, along with policy and market drivers and the future outlook for fuel cells.

  4. Fuel properties of loofah (Luffa cylindrica L.) biofuel blended with ...

    African Journals Online (AJOL)

    ajl6

    Fuel properties of loofah oil and its ethyl ester blended with diesel were experimentally determined. ... The escalating prices of petroleum fuels, the .... equation developed by Bamgboye and Hansen (2008) was used to ..... Renewable Energy.

  5. Crude oil prices: Speculation versus fundamentals

    Science.gov (United States)

    Kolodziej, Marek Krzysztof

    Beginning in 2004, the price of crude oil fluctuates rapidly over a wide range. Large and rapid price increases have recessionary consequences and dampen long-term infrastructural investment. I investigate whether price changes are driven by market fundamentals or speculation. With regard to market fundamentals, I revisit econometric evidence for the importance of demand shocks, as proxied by dry maritime cargo rates, on oil prices. When I eliminate transportation costs from both sides of the equation, disaggregate OPEC and non-OPEC production, and allow for more than one cointegrating relation, I find that previous specifications are inconsistent with arguments that demand shocks play an important role. Instead, results confirm the importance of OPEC supply shocks. I investigate two channels by which speculation may affect oil prices; the direct effect of trader behavior and changes in oil from a commodity to a financial asset. With regard to trader behavior, I find evidence that trader positions are required to explain the spread between spot and futures prices of crude oil on the New York Mercantile Exchange. The inclusion of trader positions clarifies the process of equilibrium error correction, such that there is bidirectional causality between prices and trader positions. This creates the possibility of speculative bubbles. With regard to oil as a commodity and/or financial asset, I use a Kalman Filter model to estimate the time-varying partial correlation between returns to investments in equity and oil markets. This correlation changes from negative to positive at the onset of the 2008 financial crisis. The low interest rates used to rescue the economy depress convenience yields, which reduces the benefits of holding oil as a commodity. Instead, oil becomes a financial asset (on net) as the oil market changed from contango to backwardation. Contradicting simple political narratives, my research suggests that both market fundamentals and speculation drive

  6. Rapid fluctuations in extracellular brain glucose levels induced by natural arousing stimuli and intravenous cocaine: fueling the brain during neural activation

    Science.gov (United States)

    Lenoir, Magalie

    2012-01-01

    Glucose, a primary energetic substrate for neural activity, is continuously influenced by two opposing forces that tend to either decrease its extracellular levels due to enhanced utilization in neural cells or increase its levels due to entry from peripheral circulation via enhanced cerebral blood flow. How this balance is maintained under physiological conditions and changed during neural activation remains unclear. To clarify this issue, enzyme-based glucose sensors coupled with high-speed amperometry were used in freely moving rats to evaluate fluctuations in extracellular glucose levels induced by brief audio stimulus, tail pinch (TP), social interaction with another rat (SI), and intravenous cocaine (1 mg/kg). Measurements were performed in nucleus accumbens (NAcc) and substantia nigra pars reticulata (SNr), which drastically differ in neuronal activity. In NAcc, where most cells are powerfully excited after salient stimulation, glucose levels rapidly (latency 2–6 s) increased (30–70 μM or 6–14% over baseline) by all stimuli; the increase differed in magnitude and duration for each stimulus. In SNr, where most cells are transiently inhibited by salient stimuli, TP, SI, and cocaine induced a biphasic glucose response, with the initial decrease (−20–40 μM or 5–10% below baseline) followed by a reboundlike increase. The critical role of neuronal activity in mediating the initial glucose response was confirmed by monitoring glucose currents after local microinjections of glutamate (GLU) or procaine (PRO). While intra-NAcc injection of GLU transiently increased glucose levels in this structure, intra-SNr PRO injection resulted in rapid, transient decreases in SNr glucose. Therefore, extracellular glucose levels in the brain change very rapidly after physiological and pharmacological stimulation, the response is structure specific, and the pattern of neuronal activity appears to be a critical factor determining direction and magnitude of physiological

  7. Evaluation of dynamic pass-through of carbon prices into electricity prices – a cointegrated VECM analysis

    OpenAIRE

    Freitas, Carlos J. Pereira; Silva, Patrícia Pereira da

    2013-01-01

    This paper addresses the impact of the CO2 opportunity cost on the wholesale electricity price in the context of the Iberian electricity market (MIBEL), namely on the Portuguese system, for the period corresponding to the Phase II of the European Union Emission Trading Scheme (EU ETS). In the econometric analysis a vector error correction model (VECM) is specified to estimate both long–run equilibrium relations and short–run interactions between the electricity price and the fuel (natural gas...

  8. High Penetrated Wind Farm Impacts on the Electricity Price

    DEFF Research Database (Denmark)

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

    2016-01-01

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

  9. Price regulation in the Spanish energy sectors: who benefits?

    International Nuclear Information System (INIS)

    Arocena, Pablo; Contin, Ignacio; Huerta, Emilio

    2002-01-01

    This paper analyses the distribution of benefits between firms and consumers due to the price regulation of the Spanish energy sectors (electricity, oil fuels and gas) during the decade 1987-1997. To that effect, we compare the actual evolution of energy prices with alternate benchmarks in order to assess the potential existence of a pro-industry or a pro-consumer bias in the pricing policies followed by the regulator. Our results show a pro-industry-biased regulatory context, where consumers benefited very little from price control. The successive price adjustments over time allowed the companies to keep all the productivity gains and cost reductions and to increase their profitability rates relative to those achieved in the manufacturing sector. (Author)

  10. Divisia amount and price index for energy consumption

    International Nuclear Information System (INIS)

    Bentzen, J.

    1993-01-01

    In connection with the calculation of total energy consumption related to aggregation of the individual fuel's combustion values, an alternative to Btu aggregation (combustion value measurement), designated the ''Divisia index'', is presented. This represents an economic measure for energy consumption. The Divisia index is demonstrated in relation to total national energy consumption and total energy consumption within the Danish housing sector and also with regard to the estimation of price and income elasticity within energy demand. It is only possible to utilize the Divisia index in relation to the last 20 years, which is the period where energy consumption has stagnated. The question of possible irreversible effects on energy consumption caused by large variations in energy prices is discussed. It is suggested that the reaction to a fall in prices is different and less significant than is the case with price rises. In the long term, results point at a reasonably high price elasticity within energy demand. (AB) (22 refs.)

  11. Price regulation in the Spanish energy sectors: who benefits?

    Energy Technology Data Exchange (ETDEWEB)

    Arocena, Pablo; Contin, Ignacio; Huerta, Emilio [Departamento de Gestion de Empresas, Universidad Publica de Navarra, Campus de Arrosadia. 31006, Pamplona (Spain); [Canterbury Business School, University of Kent Canterbury (United Kingdom)

    2002-08-01

    This paper analyses the distribution of benefits between firms and consumers due to the price regulation of the Spanish energy sectors (electricity, oil fuels and gas) during the decade 1987-1997. To that effect, we compare the actual evolution of energy prices with alternate benchmarks in order to assess the potential existence of a pro-industry or a pro-consumer bias in the pricing policies followed by the regulator. Our results show a pro-industry-biased regulatory context, where consumers benefited very little from price control. The successive price adjustments over time allowed the companies to keep all the productivity gains and cost reductions and to increase their profitability rates relative to those achieved in the manufacturing sector. (Author)

  12. Estimating the commodity market price of risk for energy prices

    International Nuclear Information System (INIS)

    Kolos, Sergey P.; Ronn, Ehud I.

    2008-01-01

    The purpose of this paper is to estimate the ''market price of risk'' (MPR) for energy commodities, the ratio of expected return to standard deviation. The MPR sign determines whether energy forward prices are upward- or downward-biased predictors of expected spot prices. We estimate MPRs using spot and futures prices, while accounting for the Samuelson effect. We find long-term MPRs generally positive and short-term negative, consistent with positive energy betas and hedging, respectively. In spot electricity markets, MPRs in Day-Ahead Prices agree with short-dated futures. Our results relate risk premia to informed hedging decisions, and futures prices to forecast/expected prices. (author)

  13. Output Price Risk, Material Input Price Risk, and Price Margins: Evidence from the US Catfish Industry.

    Directory of Open Access Journals (Sweden)

    David Bouras

    2017-07-01

    Full Text Available Aim/purpose - To develop a conceptual model for analyzing the impact of output price risk and material input price risk on price margins. Design/methodology/approach - To analyze the combined effect of output price risk and material input risk on price margins, we use a series of comparative static analyses, GARCH models, and data ranging from 1990/01 to 2012/12. Findings - The theoretical results indicate that the impact of output price risk and the impact of material input price risk on price margins are ambiguous and, to a great extent, hinge on the correlation between output price and material input price. The empirical results show that whole frozen catfish price risk and live catfish price risk negatively affect the price margin for frozen catfish. The empirical results, however, indicate that the risk of the price of live catfish affects markedly the price margin for frozen whole catfish in contrast to the impact of the risk of the price of frozen whole catfish. Research implications/limitations - The empirical results have significant implications for managerial decision-making especially when crafting strategies for improving price margins. Accordingly, in order to beef up the price margin for frozen whole catfish, catfish processors may consider engaging in vertical integration. This paper has some limitations: first, it assumes that firms operate in competitive markets; second, it assumes that firms produce and sell a single product. Originality/value/contribution - Unlike earlier studies that focused solely on the effect of output price risk on price margins, this paper analyzes theoretically and empirically the impact of output price risk and material input price risk on price margins.

  14. Economic evaluation of fast reactor fuel cycling

    International Nuclear Information System (INIS)

    Hu Ping; Zhao Fuyu; Yan Zhou; Li Chong

    2012-01-01

    Economic calculation and analysis of two kinds of nuclear fuel cycle are conducted by check off method, based on the nuclear fuel cycling process and model for fast reactor power plant, and comparison is carried out for the economy of fast reactor fuel cycle and PWR once-through fuel cycle. Calculated based on the current price level, the economy of PWR one-through fuel cycle is better than that of the fast reactor fuel cycle. However, in the long term considering the rising of the natural uranium's price and the development of the post treatment technology for nuclear fuels, the cost of the fast reactor fuel cycle is expected to match or lower than that of the PWR once-through fuel cycle. (authors)

  15. Bio-fuels - biohazard

    International Nuclear Information System (INIS)

    Slovak, K.

    2008-01-01

    Politicians have a clear explanation for growing commodity prices. It is all the fault of speculators. It is easy to point the finger at an imaginary enemy. It is more difficult and from the point of view of a political career suicidal to admit one's mistakes. And there are reasons for remorse. According to studies prepared by the OECD and the World Bank bio-fuels are to be blame for high food prices. The bio-fuel boom that increases the demand for agro-commodities has been created by politicians offering generous subsidies. And so farming products do not end up on the table, but in the fuel tanks of cars in the form of additives. And their only efficiency is that they make food more expensive. The first relevant indication that environmentalist tendencies in global politics have resulted in shortages and food price increases can be found in a confidential report prepared by the World Bank. Parts of the report were leaked to the media last month. According to this information growing bio-fuel production has resulted in a food price increase by 75%. The theory that this development was caused by speculators and Chinese and Indian demand received a serious blow. And the OECD report definitely contradicted the excuse used by the politicians. According to the report one of the main reasons for growing food prices are generously subsidized bio-fuels. Their share of the increase of demand for agro-commodities in 2005 -2007 was 60% according to the study. (author)

  16. Winters fuels report

    International Nuclear Information System (INIS)

    1995-01-01

    The outlook for distillate fuel oil this winter is for increased demand and a return to normal inventory patterns, assuming a resumption of normal, cooler weather than last winter. With industrial production expected to grow slightly from last winter's pace, overall consumption is projected to increase 3 percent from last winter, to 3.4 million barrels per day during the heating season (October 1, 1995-March 31, 1996). Much of the supply win come from stock drawdowns and refinery production. Estimates for the winter are from the Energy Information Administration's (EIA) 4th Quarter 1995 Short-Tenn Energy Outlook (STEO) Mid-World Oil Price Case forecast. Inventories in place on September 30, 1995, of 132 million barrels were 9 percent below the unusually high year-earlier level. Inventories of high-sulfur distillate fuel oil, the principal type used for heating, were 13 percent lower than a year earlier. Supply problems are not anticipated because refinery production and the ready availability of imports should be adequate to meet demand. Residential heating off prices are expected to be somewhat higher than last winter's, as the effects of lower crude oil prices are offset by lower distillate inventories. Heating oil is forecast to average $0.92 per gallon, the highest price since the winter of 1992-93. Diesel fuel (including tax) is predicted to be slightly higher than last year at $1.13 per gallon. This article focuses on the winter assessment for distillate fuel oil, how well last year's STEO winter outlook compared to actual events, and expectations for the coming winter. Additional analyses include regional low-sulfur and high-sulfur distillate supply, demand, and prices, and recent trends in distillate fuel oil inventories

  17. Delivered Pricing, FOB Pricing, and Collusion in Spatial Markets

    OpenAIRE

    Maria Paz Espinosa

    1992-01-01

    This article examines price discrimination and collusion in spatial markets. The problem is analyzed in the context of a repeated duopoly game. I conclude that the prevailing pricing systems depend on the structural elements of the market. Delivered pricing systems emerge in equilibrium in highly monopolistic and highly competitive industries, while FOB is used in intermediate market structures. The fact driving this result is that delivered pricing policies allow spatial price discrimination...

  18. Forecasting Day-Ahead Electricity Prices: Utilizing Hourly Prices

    OpenAIRE

    Raviv, Eran; Bouwman, Kees E.; van Dijk, Dick

    2013-01-01

    This discussion paper led to a publication in 'Energy Economics' , 2015, 50, 227-239. The daily average price of electricity represents the price of electricity to be delivered over the full next day and serves as a key reference price in the electricity market. It is an aggregate that equals the average of hourly prices for delivery during each of the 24 individual hours. This paper demonstrates that the disaggregated hourly prices contain useful predictive information for the daily average ...

  19. International Energy Prices(Exchange Rate and PPP)

    Energy Technology Data Exchange (ETDEWEB)

    Jo, Sung Han; Yoo, Dong Heon [Korea Energy Economics Institute, Euiwang (Korea)

    2000-11-01

    Energy is to be specially important to the Korean economy. In the past the major purpose of Korea's energy policies was to ensure that the energy was supplied at the low cost to encourage and sustain economic development and growth. Therefore, energy prices are distorted by government intervention. And this was the cause of inefficiency in usage of energy. In order to improve the energy efficiency and reduce the environmental impact of energy consumption, new energy pricing should be needed to the energy industry and the Korean economy. It is necessary to compare the domestic energy prices with other countries to improve the energy pricing system including tax, the relative structure of energy price, etc. In order to compare the domestic energy prices to those of other countries, the exchange rate, purchasing power parity and Big Mac index are used for calculation of common currency. We select 12 countries, which are Belgium, France, Germany, Greece, Ireland, Italy, Portugal, Spain, Switzerland, Taiwan, Mexico and England. The oil products(gasoline, diesel, heavy fuel oil and light fuel oil), natural gas and electricity are selected to compare the price. (author). 12 refs., 13 tabs.

  20. Aircraft borne combined measurements of the Fukushima radionuclide Xe-133 and fossil fuel combustion generated pollutants in the TIL - implications for cyclone induced rapid lift and TIL physico-chemical processes

    Energy Technology Data Exchange (ETDEWEB)

    Schlager, Hans; Aufmhoff, Heinfried; Baumann, Robert; Schumann, Ulrich [DLR IPA, Oberpfaffenhofen (Germany); Arnold, Frank [MPI Kernphysik, Heidelberg (Germany); DLR IPA, Oberpfaffenhofen (Germany); Simgen, Hardy; Lindemann, Siegfried; Rauch, Ludwig; Kaether, Frank [MPI Kernphysik, Heidelberg (Germany); Pirjola, Liisa [University of Helsinki, Helsinki (Finland)

    2013-07-01

    The radionuclide Xe-133, released by the March 2011 nuclear disaster at Fukushima/Daiichi (hereafter FD), represents an ideal tracer for atmospheric transport. We report the, to our best knowledge, only aircraft borne measurements of FD Xe-133 in the Tropopause Inversion Layer (TIL), indicating rapid lift of polluted planetary boundary layer air to the TIL. On the same research aircraft (FALCON), we have also conducted on-line measurements of fossil fuel combustion generated pollutant gases (SO{sub 2} and other species), which had increased concentrations in the TIL. In addition, we have conducted supporting model simulations of transport, chemical processes, and aerosol processes. Our investigations reveal a potentially important impact of East-Asian cyclone induced pollutants transport to the TIL. This impact includes particularly aerosol formation.

  1. Technology for Price Management in Industrial Differential Product Market

    Directory of Open Access Journals (Sweden)

    E. V. Orlova

    2015-01-01

    Full Text Available The article studies price behavior of oligopolies in industrial market where price competition is replaced by non-price competition. There is a developed technology for pricing management of the products of industrial enterprises, which, unlike the existing ones, takes into account the dynamics of changes in consumer preferences and changes in the pricing policy of the enterprise competitor and is based on usage of system dynamics models to simulate the financial and economic performance of enterprises and the fuzzy model for situational analysis and decisionmaking on changes in prices for the products. A pricing simulation model is offered. It is based on system-dynamic modeling method, which takes into account the complex cause-to-effect concatenation of factors on price such as product quality, cost, price competition, price elasticity of economic demand, competitors’ quantity of output and estimates the impact of changing factors of internal and external enterprise environment on the effectiveness of its activities.The simulation model allows us to conduct diverse experiments and analyze the impact of management decisions on the efficiency of the enterprise. Based on the fuzzy approach a price decision-making model is developed. It operates not only precise (numeric values, but also qualitative assessments of variables and provides an adequate use of logical relationships and the laws of the mutual influence of market and production and economic factors. Qualitative dependences, which establish the influence of external and internal factors on the price change, are identified as a result of the study of economic laws and legal conformity that are in the context of rapid economic change and market turbulence may not be strictly formalized and take the form of linguistic statements, which express the conditional relationship between the qualitative assessments of initial factors and changes in the relative price.

  2. Pass-through of crude oil prices at different stages in Turkey

    Directory of Open Access Journals (Sweden)

    Fatih Akçelik

    2016-03-01

    Full Text Available This paper examines the degree of oil price pass-through to domestic prices at different stages of supply chain in Turkey. Our results, based on vector autoregressive models, point out that the pass-through to domestic motor fuel prices is considerably fast as expected and just one third of a change in crude oil prices is reflected to the motor fuel prices due to the high share of taxes on retail prices. On the other hand, it is shown that impact of oil prices on transport services takes a longer time compared to other domestic prices. Over the 2004–2014 period, estimates suggest that a 10% permanent change in the international crude oil prices is associated with a 0.42 percentage points change in consumer inflation at the end of one year. The final accumulated pass-through to consumer inflation reaches 0.50 percentage points. Moreover, the pass-through to producer prices is nearly twice as much as that to consumer prices. Findings also provide some evidence for a strengthening in oil price pass-through to consumer inflation over time, which might reflect the growing natural gas intensity of the economy.

  3. Energy markets and price relations

    International Nuclear Information System (INIS)

    Bergendahl, P.A.

    1986-10-01

    The aim of the report is to elucidate the way and extent of the dependence of the price of different energy species of one another and particularly of crude oil prices. Oil, coal and natural gas can substitute each other at many applications. The prices are dependent on mining, processing and transporting. Forecasting of prices and future trends are discussed

  4. THE PROBLEMS OF TRANSFER PRICING

    OpenAIRE

    Tursunova Nargiza

    2015-01-01

    Each item has a price, but not every company is able to independently set the price at which it wants to sell its goods. Firms need to have a streamlined method of setting prices for their goods, and their financial condition depends on it. When choosing a method of pricing, there must be considered and internal and external constraints. The paper discusses the stages of formation of prices in a continuous process of pricing, as well as methods of pricing, their advantages and disadvantages. ...

  5. Quantity precommitment and price matching

    DEFF Research Database (Denmark)

    Tumennasan, Norovsambuu

    We revisit the question of whether price matching is anti-competitive in a capacity constrained duopoly setting. We show that the effect of price matching depends on capacity. Specifically, price matching has no effect when capacity is relatively low, but it benefits the firms when capacity...... is relatively high. Interestingly, when capacity is in an intermediate range, price matching benefits only the small firm but does not affect the large firm in any way. Therefore, one has to consider capacity seriously when evaluating if price matching is anti-competitive. If the firms choose their capacities...... simultaneously before pricing decisions, then the effect of price matching is either pro-competitive or ambiguous. We show that if the cost of capacity is high, then price matching can only (weakly) decrease the market price. On the other hand, if the cost of capacity is low, then the effect of price matching...

  6. Rapid in situ synthesis of spherical microflower Pt/C catalyst via spray-drying for high performance fuel cell application

    Energy Technology Data Exchange (ETDEWEB)

    Balgis, R.; Ogi, T.; Okuyama, K. [Department of Chemical Engineering, Graduate School of Engineering, Hiroshima University, Higashi Hiroshima, Hiroshima (Japan); Anilkumar, G.M.; Sago, S. [Research and Development Centre, Noritake Co., Ltd., Higashiyama, Miyoshi, Aichi (Japan)

    2012-08-15

    A facile route for the rapid in situ synthesis of platinum nanoparticles on spherical microflower carbon has been developed. An aqueous precursor slurry containing carbon black, polystyrene latex (PSL), polyvinyl alcohol, and platinum salt was spray-dried, followed by calcination to simultaneously reduce platinum salt and to decompose PSL particles. Prepared Pt/C catalyst showed high-performance electrocatalytic activity with excellent durability. The mass activity and specific activity values were 132.26 mA mg{sup -1} Pt and 207.62 {mu}A cm{sup -2} Pt, respectively. This work presents a future direction for the production of high-performance Pt/C catalyst in an industrial scale. (Copyright copyright 2012 WILEY-VCH Verlag GmbH and Co. KGaA, Weinheim)

  7. Developments in Global Food Prices

    OpenAIRE

    Vanessa Rayner; Emily Laing; Jamie Hall

    2011-01-01

    Global food prices have increased significantly since the early 2000s, reversing the long-run trend decline in relative food prices over previous decades. A range of supply disruptions in key food-producing countries have contributed to higher food prices, along with strong demand from developing countries as per capita incomes rise and consumption patterns change. Rising commodity prices are leading to higher headline consumer price inflation in many countries though, at this stage, core mea...

  8. Rational Asset Pricing Bubbles Revisited

    OpenAIRE

    Jan Werner

    2012-01-01

    Price bubble arises when the price of an asset exceeds the asset's fundamental value, that is, the present value of future dividend payments. The important result of Santos and Woodford (1997) says that price bubbles cannot exist in equilibrium in the standard dynamic asset pricing model with rational agents as long as assets are in strictly positive supply and the present value of total future resources is finite. This paper explores the possibility of asset price bubbles when either one of ...

  9. Effects of pricing policy in traffic and transport. Overview of knowledge

    International Nuclear Information System (INIS)

    Geilenkirchen, G.P.; Geurs, K.; Van Essen, H.P.; Schroten, A.; Boon, B.

    2010-05-01

    Pricing policies play an important role in transport policy making. The results of pricing policy studies, however, are often debated. This report presents a literature overview of the price sensitivities of transport demand and the effects of transport pricing policies in passenger transport, freight transport and aviation. The study concludes that the demand for passenger and freight transport is typically inelastic; the relative price change is greater than the resulting change in transport demand. Fuel demand for cars, public transport demand and air travel demand are, however, relatively sensitive to price changes. Car use is relatively insensitive to price changes. The demand for road freight is, in contrast to what is often assumed, relatively sensitive to changes in total transport costs. Relatively little empirical evidence is available on the impacts of pricing policies on rail freight transport, shipping and aviation. [nl

  10. Pricing Schemes in Cloud Computing: An Overview

    OpenAIRE

    Artan Mazrekaj; Isak Shabani; Besmir Sejdiu

    2016-01-01

    Cloud Computing is one of the technologies with rapid development in recent years where there is increasing interest in industry and academia. This technology enables many services and resources for end users. With the rise of cloud services number of companies that offer various services in cloud infrastructure is increased, thus creating a competition on prices in the global market. Cloud Computing providers offer more services to their clients ranging from infrastructure as a service (IaaS...

  11. Increasing TRIGA fuel lifetime with 12 wt.% U TRIGA fuel

    Energy Technology Data Exchange (ETDEWEB)

    Naughton, W F; Cenko, M J; Levine, S H; Witzig, W F [Pennsylvania State University (United States)

    1974-07-01

    In-core fuel management studies have been performed for the Penn State Breazeale Reactor (PSBR) wherein 12 wt % U fuel elements are used to replace the standard 8.5 wt % U TRIGA fuel. The core configuration used to develop a calculational model was a 90-element hexagonal array, which is representative of the PSBR core, and consists of five hexagonal rings surrounding a central thimble containing water. The technique employed for refueling the core fully loaded with 8.5 wt % U fuel involves replacing 8.5 wt % U fuel with 12 wt % U fuel using an in-out reloading scheme. A batch reload consists of 6 new 12 wt % U fuel elements. Placing the 12 wt % U fuel in the B ring produces fuel temperatures ({approx}450 {sup o}C) that are well below the 800{sup o}C maximum limitation when the PSBR is operating at its maximum allowed power of 1 Megawatt. The advantages of using new 12 wt % U fuel to replace the burned up 8.5 wt % U fuel in the B ring over refueling strictly with 8.5 wt % U-Zr TRIGA fuel are clearly delineated in Table 1 where cost calculations used the General Atomic pre-1972 prices for TRIGA fuel, i.e., $1500 and $1650 for an 8.5 and 12 wt % U fuel element, respectively. Experimental results obtained to date utilizing the 12 wt % U fuel elements agree with the computed results. (author)

  12. The oil price

    International Nuclear Information System (INIS)

    Alba, P.

    2000-01-01

    Statistical analysis cannot, alone, provide an oil price forecast. So, one needs to understand the fundamental phenomena which control the past trends since the end of world war II After a first period during which oil, thanks to its abundance, was able to increase its market share at the expense of other energies, the first oil shock reflects the rarefaction of oil resource with the tilting of the US production curve from growth to decline. Since then, the new situation is that of a ''cohabitation'' between oil and the other energies with the oil price, extremely volatile, reflecting the trial and error adjustment of the market share left to the other energies. Such a context may explain the recent oil price surge but the analogy between the US oil situation at the time of the first shock and that existing today for the world outside Middle East suggest another possibility, that of a structural change with higher future oil prices. The authors examine these two possibilities, think that the oil price will reflect both as long as one or the other will not become proven, and conclude with a series of political recommendations. (authors)

  13. "Photographing money" task pricing

    Science.gov (United States)

    Jia, Zhongxiang

    2018-05-01

    "Photographing money" [1]is a self-service model under the mobile Internet. The task pricing is reasonable, related to the success of the commodity inspection. First of all, we analyzed the position of the mission and the membership, and introduced the factor of membership density, considering the influence of the number of members around the mission on the pricing. Multivariate regression of task location and membership density using MATLAB to establish the mathematical model of task pricing. At the same time, we can see from the life experience that membership reputation and the intensity of the task will also affect the pricing, and the data of the task success point is more reliable. Therefore, the successful point of the task is selected, and its reputation, task density, membership density and Multiple regression of task positions, according to which a nhew task pricing program. Finally, an objective evaluation is given of the advantages and disadvantages of the established model and solution method, and the improved method is pointed out.

  14. 7 CFR 1033.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1033.50 Section 1033.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

  15. 7 CFR 1005.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1005.50 Section 1005.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

  16. 7 CFR 1001.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1001.50 Section 1001.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

  17. 7 CFR 1006.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1006.50 Section 1006.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

  18. 7 CFR 1126.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1126.50 Section 1126.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

  19. 7 CFR 1032.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1032.50 Section 1032.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

  20. 7 CFR 1131.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1131.50 Section 1131.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...