WorldWideScience

Sample records for stable energy prices

  1. Energies prices

    International Nuclear Information System (INIS)

    2005-08-01

    This document offers a synthesis of the tariffs and the energies prices in august 2005 in Paris, compared with the years 2003 and 2004. This sectoral presentation (transports, houses, industry) provides thus statistics on the prices of fuels, heating, propane, coal, wood fuels, electric power and gas. (A.L.B.)

  2. Energy prices

    International Nuclear Information System (INIS)

    2002-08-01

    This document gives in a series of tables, a synthesis of the main energy tariffs and prices in use in France and their evolution during the 2000-2002 era both in the residential and in the industry sectors: automotive fuels, domestic fuel oil, steam for district heating, propane, coal, wood, electricity, gas, heavy fuel oil. (J.S.)

  3. Energy prices

    International Nuclear Information System (INIS)

    2002-01-01

    This folder gives a synthesis of the main energy tariffs and prices ruling in France in 2000, 2001 and 2002 for automotive fuels, domestic fuel oil, district heating steam, propane, coal, wood, electricity, natural gas and heavy fuel, both for accommodations and for the industry. (J.S.)

  4. 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

  5. Energy consumption and energy prices

    International Nuclear Information System (INIS)

    Bentzen, J.

    1993-01-01

    Data are presented on energy consumption and energy prices related to a number of OECD (Organisation for Economic Co-operation and Development) lands covering the period 1951-1990. The information sources are described and the development of energy consumption and prices in Denmark are illustrated in relation to these other countries. The energy intensity (the relation between energy consumption and the gross national product) is dealt with. Here it is possible to follow development during the whole post-war period. It is generally understood that Denmark saved large amounts of energy after 1973-74 but, taken over the whole post-war period, savings and decline in energy-gross national product relations are less dramatic compared to conditions in other OECD countries. Energy coefficients or elasticities show the relative rise in consumption compared to the relative rise in gross national product (growth rate). This is shown to be typically unstable and an eventual connection with the amount of energy price increase and/or the growth rate of the national economy is considered. Results of Granger causuality tests on energy consumption, national income and energy prices are presented. Effective energy prices were very low in Denmark up to 1970 when they suddenly began to increase. Since the oil crisis Denmark's energy consumption has fallen whereas the other countries have used rather more energy than before. Effective promotion of energy savings must be seen in relation to the fact that the 1970 basis level of energy consumption and intensity was unusually high. The high effective energy prices have also encouraged energy savings in Denmark. (AB)

  6. Energy prices. August 2004

    International Nuclear Information System (INIS)

    2004-08-01

    This document makes a synthesis of the main French energy prices and tariffs in August 2004 and for the years 2002 and 2003 (annual average) per sector (transports, residential, industry) and per type of energy source (automotive fuels, domestic fuel, district heating, propane, coal, wood, electricity, natural gas). Data are presented in tables. (J.S.)

  7. Energy prices. January 2005

    International Nuclear Information System (INIS)

    2005-01-01

    This document makes a synthesis of the main French energy prices and tariffs in January 2005 and for the years 2003 and 2004 (annual average) per sector (transports, residential, industry) and per type of energy source (automotive fuels, domestic fuel, district heating, propane, coal, wood, electricity, natural gas). Data are presented in tables. (J.S.)

  8. Energy prices; Prix des energies

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-01-15

    This folder presents a synthesis of the main energy tariffs and prices in January 2007 and their comparison with the average annual data for 2005 and 2006. Data are presented in tables by sector of activity and by energy source: transports (automotive fuels), residential (fuel oil, district heating, propane, coal, wood-fuel, electricity, natural gas), industry (natural gas, electricity, heavy fuel oil, coal). (J.S.)

  9. Energy pricing policy in Iran

    International Nuclear Information System (INIS)

    Davood Manzoor

    1995-01-01

    Low energy prices in Iran do not reflect economic costs. Further distortions exist in the tariff structures of most energy sources and in their relative prices. Price reform is a key policy element for achieving increased energy conservation and economic substitution. Subsidies should be made transparent and explained by the Government, and, when eliminated, they could be compensated by target measures or direct subsidies for low income households. Price reforms are under way, with some caution though, because of possible political and inflationary consequences. In order to better understand the need for price reforms a brief analysis of the current energy pricing policy is provided there. (author)

  10. Volatility in energy prices

    International Nuclear Information System (INIS)

    Duffie, D.

    1999-01-01

    This chapter with 58 references reviews the modelling and empirical behaviour of volatility in energy prices. Constant volatility and stochastic volatility are discussed. Markovian models of stochastic volatility are described and the different classes of Markovian stochastic volatility model are examined including auto-regressive volatility, option implied and forecasted volatility, Garch volatility, Egarch volatility, multivariate Garch volatility, and stochastic volatility and dynamic hedging policies. Other volatility models and option hedging are considered. The performance of several stochastic volatility models as applied to heating oil, light oil, natural gas, electricity and light crude oil are compared

  11. 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)

  12. Energy prices, equalization and federalism

    International Nuclear Information System (INIS)

    Courchene, T.J.

    2005-01-01

    A rise in oil prices over the last 30 years has shaped the debate on the equalization formula as well as the nature of fiscal federalism. The oil shocks of 1973 and 1979 contributed to the creation of the National Energy Program (NEP) in 1980 and the Energy Pricing and Taxation Agreement (EPTA) between Ottawa and Alberta in 1981. The current surge in oil prices, to recent highs of $70 a barrel has resulted in a new debate on energy pricing, equalization and fiscal frameworks. This article presented a review of the history of oil and federalism, and proposed a remedy to the horizontal fiscal imbalance by allocating the fixed equalization pool in accordance with fiscal capacity disparities relating to non-resource revenues. An interprovincial revenue-sharing pool was suggested for resource revenues, agreed to and operated by the provinces. It was suggested that after the price spike in 1973 in which the price of oil tripled, a key part of the rationale for imposing export taxes on oil equal to the difference between domestic and world prices was that the federal government could subsidize oil imports into eastern Canada and maintain a uniform domestic price across the country. By continuing to subsidize imports and maintaining a domestic price below the world price, the government has been diverting potential energy revenues from energy-rich provinces and transferring them directly to Canadians in terms of subsidized energy prices. It was noted that energy price surges cannot send equalization payments soaring as they did before because of the 2004 Framework Agreement, in which the overall equalization will be increased to $10.9 billion. A 2-tier approach to equalization was presented, in which it was suggested that the $10.9 billion pool should be allocated with fiscal capacity disparities relating to non-resource revenues. The creation of a revenue sharing pool for resource revenues was recommended. It was suggested that the 2 approaches will result in a strategic

  13. 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)

  14. Analysis of energy pricing system and international comparison

    Energy Technology Data Exchange (ETDEWEB)

    Yoo, D.H. [Korea Energy Economics Institute, Euiwang (Korea, Republic of)

    1998-06-01

    Energy is an indispensable element of national life, and the stable and effective supply of energy becomes the most important prerequisite for the continuous development of the economy. Energy pricing policy should be established in the direction to induce the effective use of energy in Korea which has a high degree of reliance on imported energy, but as the result of maintaining a low energy price policy, it became the cause of over-consumption. As a result of analyzing relative prices of domestic energy, natural gas is judged as the most economical or becomes the second best policy in all uses. It is noteworthy that this result is due to price. In the mean time, in comparison, an analysis result of the energy price with major countries in OECD, prices of petroleum products, power, and natural gas for household use that lead to the increase force of domestic energy consumption, are relatively inexpensive, and relatively low tax rates are applied to these energy sources. Therefore, in order for the energy price to escape from remaining unchanged, it will be necessary to prepare proper relative pricing structure that considers the pricing level between energy sources under long-term energy policy and let the level of prices to be decided with the frame. Therefore, this study tries to find out the direction of proper relative pricing structure through structural analysis of energy price between Korea and major countries in OECD in this dimension. 31 refs., 7 figs., 48 tabs.

  15. Energy at what price? Energy markets

    International Nuclear Information System (INIS)

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

    2006-01-01

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

  16. Does oil price uncertainty affect energy use?

    NARCIS (Netherlands)

    Kuper, Gerhard H.; Soest, Daan P. van

    2003-01-01

    Theory predicts that the presence of fixed costs affects the relationship between energy use and energy price changes, as the firm's output and investment decisions respond differently to energy price increases and decreases. The asymmetry in response to energy price changes is exacerbated by

  17. Does oil price uncertainty affect energy use?

    NARCIS (Netherlands)

    Kuper, G.H.; van Soest, D.P.

    2006-01-01

    Theory predicts that the presence of fixed costs implies that the relationship between energy use and energy price changes is asymmetric, as the firm's output and investment decisions respond differently to energy price increases and decreases. The asymmetry is exacerbated if future energy prices

  18. The Price Elasticity of Residential Energy Use,

    Science.gov (United States)

    household energy- consumption behavior : The difference between the own-price elasticity of total consumption and that of saturation is a measure of the responsiveness of ’conservation’ to price....estimates of the own-price elasticities of total consumption but almost surely will produce erroneous estimates of the cross-price elasticities. As regards

  19. 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.

  20. 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

  1. 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.

  2. State energy price and expenditure report 1992

    Energy Technology Data Exchange (ETDEWEB)

    1994-12-01

    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 are provided by energy source and economic sector and are published for the years 1970, 1980, and 1985 through 1992. Data for all years, 1970 through 1992, are available on personal computer diskettes.

  3. The relationship among energy prices and energy consumption in China

    International Nuclear Information System (INIS)

    Yuan, Chaoqing; Liu, Sifeng; Wu, Junlong

    2010-01-01

    The pricing mechanism for energy is not in line with the international standards, because the energy prices are controlled by the government partly or completely in China. Chinese government made a lot of efforts to improve the pricing mechanism for energy. The relations between Chinese energy prices and energy consumption are the foundations to reform the mechanism. In this paper, the relations between Chinese energy consumption and energy prices are researched by cointegration equations, impulse response functions, granger causality and variance decomposition. The cointegration relations among energy prices, energy consumption and economic outputs show that higher energy price will decrease energy consumption in Chinese industrial sectors but will not reduce the economic output in the long run. The cointegration relation between energy price and household energy consumption shows that higher energy price will decrease household energy consumption in the long run and increase it in the short run. So Chinese government should deepen the reform of pricing mechanism for energy, and increase the energy prices reasonably to save energy. (author)

  4. 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

  5. Energy efficieny policy and carbon pricing

    Energy Technology Data Exchange (ETDEWEB)

    Ryan, Lisa; Moarif, Sara; Levina, Ellina; Baron, Richard

    2011-08-15

    The main message of this paper is that while carbon pricing is a prerequisite for least-cost carbon mitigation strategies, carbon pricing is not enough to overcome all the barriers to cost-effective energy efficiency actions. Energy efficiency policy should be designed carefully for each sector to ensure optimal outcomes for a combination of economic, social and climate change goals. This paper aims to examine the justification for specific energy efficiency policies in economies with carbon pricing in place. The paper begins with an inventory of existing market failures that attempt to explain the limited uptake of energy efficiency. These market failures are investigated to see which can be overcome by carbon pricing in two subsectors -- electricity use in residential appliances and heating energy use in buildings. This analysis finds that carbon pricing addresses energy efficiency market failures such as externalities and imperfect energy markets. However, several market and behavioural failures in the two subsectors are identified that appear not to be addressed by carbon pricing. These include: imperfect information; principal-agent problems; and behavioural failures. In this analysis, the policies that address these market failures are identified as complementary to carbon pricing and their level of interaction with carbon pricing policies is relatively positive. These policies should be implemented when they can improve energy efficiency effectively and efficiently (and achieve other national goals such as improving socio-economic efficiency).

  6. Energy Efficiency Policy and Carbon Pricing

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    The main message of this paper is that while carbon pricing is a prerequisite for least-cost carbon mitigation strategies, carbon pricing is not enough to overcome all the barriers to cost-effective energy efficiency actions. Energy efficiency policy should be designed carefully for each sector to ensure optimal outcomes for a combination of economic, social and climate change goals. This paper aims to examine the justification for specific energy efficiency policies in economies with carbon pricing in place. The paper begins with an inventory of existing market failures that attempt to explain the limited uptake of energy efficiency. These market failures are investigated to see which can be overcome by carbon pricing in two subsectors -- electricity use in residential appliances and heating energy use in buildings. This analysis finds that carbon pricing addresses energy efficiency market failures such as externalities and imperfect energy markets. However, several market and behavioural failures in the two subsectors are identified that appear not to be addressed by carbon pricing. These include: imperfect information; principal-agent problems; and behavioural failures. In this analysis, the policies that address these market failures are identified as complementary to carbon pricing and their level of interaction with carbon pricing policies is relatively positive. These policies should be implemented when they can improve energy efficiency effectively and efficiently (and achieve other national goals such as improving socio-economic efficiency).

  7. Energy trading and pricing in microgrids with uncertain energy supply

    DEFF Research Database (Denmark)

    Ma, Kai; Hu, Shubing; Yang, Jie

    2017-01-01

    This paper studies an energy trading and pricing problem for microgrids with uncertain energy supply. The energy provider with the renewable energy (RE) generation (wind power) determines the energy purchase from the electricity markets and the pricing strategy for consumers to maximize its profit...... to their response to the price, i.e., the price-taking consumers and the price-anticipating consumers. We derive the equilibrium point of the hierarchical game through the backward induction method. Comparing the two types of consumers, we study the influence of the types of consumers on the equilibrium point...

  8. 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.

  9. Energy price forecast by market analysis

    International Nuclear Information System (INIS)

    Jongepier, A.G.

    2000-01-01

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

  10. State Energy Price System: 1982 update

    Energy Technology Data Exchange (ETDEWEB)

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

    1984-10-01

    The State Energy Price System (STEPS) contains estimates of energy prices for ten major fuels (electricity, natural gas, metallurgical coal, steam coal, distillate, motor gasoline, diesel, kerosene/jet fuel, residual fuel, and liquefied petroleum gas), by major end-use sectors (residential, commercial, industrial, transportation, and electric utility), and by state through 1982. Both physical unit prices and prices per million Btu are included in STEPS. Major changes in STEPS data base for 1981 and 1982 are described. The most significant changes in procedures for the updates occur in the residential sector distillate series and the residential sector kerosene series. All physical unit and Btu prices are shown with three significant digits instead of with four significant digits as shown in the original documentation. Details of these and other changes are contained in this report, along with the updated data files. 31 references, 65 tables.

  11. 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

  12. 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.

  13. Nonlinear Pricing in Energy and Environmental Markets

    Science.gov (United States)

    Ito, Koichiro

    This dissertation consists of three empirical studies on nonlinear pricing in energy and environmental markets. The first investigates how consumers respond to multi-tier nonlinear price schedules for residential electricity. Chapter 2 asks a similar research question for residential water pricing. Finally, I examine the effect of nonlinear financial rewards for energy conservation by applying a regression discontinuity design to a large-scale electricity rebate program that was implemented in California. Economic theory generally assumes that consumers respond to marginal prices when making economic decisions, but this assumption may not hold for complex price schedules. The chapter "Do Consumers Respond to Marginal or Average Price? Evidence from Nonlinear Electricity Pricing" provides empirical evidence that consumers respond to average price rather than marginal price when faced with nonlinear electricity price schedules. Nonlinear price schedules, such as progressive income tax rates and multi-tier electricity prices, complicate economic decisions by creating multiple marginal prices for the same good. Evidence from laboratory experiments suggests that consumers facing such price schedules may respond to average price as a heuristic. I empirically test this prediction using field data by exploiting price variation across a spatial discontinuity in electric utility service areas. The territory border of two electric utilities lies within several city boundaries in southern California. As a result, nearly identical households experience substantially different nonlinear electricity price schedules. Using monthly household-level panel data from 1999 to 2008, I find strong evidence that consumers respond to average price rather than marginal or expected marginal price. I show that even though this sub-optimizing behavior has a minimal impact on individual welfare, it can critically alter the policy implications of nonlinear pricing. The second chapter " How Do

  14. The impact of relative energy prices on industrial energy consumption in China: a consideration of inflation costs.

    Science.gov (United States)

    He, Lingyun; Ding, Zhihua; Yin, Fang; Wu, Meng

    2016-01-01

    Significant effort has been exerted on the study of economic variables such as absolute energy prices to understand energy consumption and economic growth. However, this approach ignores general inflation effects, whereby the prices of baskets of goods may rise or fall at different rates from those of energy prices. Thus, it may be the relative energy price, not the absolute energy price, that has most important effects on energy consumption. To test this hypothesis, we introduce a new explanatory variable, the domestic relative energy price, which we define as "the ratio of domestic energy prices to the general price level of an economy," and we test the explanatory power of this new variable. Thus, this paper explores the relationship between relative energy prices and energy consumption in China from the perspective of inflation costs over the period from 1988 to 2012. The direct, regulatory and time-varying effects are captured using methods such as ridge regression and the state-space model. The direct impacts of relative energy prices on total energy consumption and intensity are -0.337 and -0.250, respectively; the effects of comprehensive regulation on energy consumption through the economic structure and the energy structure are -0.144 and -0.148, respectively; and the depressing and upward effects of rising and falling energy prices on energy consumption are 0.3520 and 0.3564, respectively. When economic growth and the energy price level were stable, inflation persisted; thus, rising energy prices benefitted both the economy and the environment. Our analysis is important for policy makers to establish effective energy-pricing policies that ensure both energy conservation and the stability of the pricing system.

  15. Purchase prices for renewable energies in France beyond September 2010

    International Nuclear Information System (INIS)

    Anon.

    2010-01-01

    This table lists the purchase prices concerning the electricity produced by biogas, wind energy, geothermal energy, photovoltaic energy and hydro energy and gives the purchase conditions. These prices are valid in France beyond the first of september 2010

  16. Russian energy prices, taxes and costs 1993

    International Nuclear Information System (INIS)

    1994-01-01

    The Russian energy industry may be the country's most promising exporter, but it is struggling to free itself from the heavy regulation and economic distortions inherited from the Soviet era. This analysis examines Russian price and tax policies as well as production costs in 1993, and their effect on supply and demand in the oil, coal, gas and electricity sectors. The study underscores the broad consensus among both Western and Russian experts that primary energy prices should be lifted to world levels. It offers a framework for addressing the great question about how fast this should be done in a country undergoing a tremendous social and political transformation

  17. Forecasting Energy Commodity Prices Using Neural Networks

    Directory of Open Access Journals (Sweden)

    Massimo Panella

    2012-01-01

    Full Text Available A new machine learning approach for price modeling is proposed. The use of neural networks as an advanced signal processing tool may be successfully used to model and forecast energy commodity prices, such as crude oil, coal, natural gas, and electricity prices. Energy commodities have shown explosive growth in the last decade. They have become a new asset class used also for investment purposes. This creates a huge demand for better modeling as what occurred in the stock markets in the 1970s. Their price behavior presents unique features causing complex dynamics whose prediction is regarded as a challenging task. The use of a Mixture of Gaussian neural network may provide significant improvements with respect to other well-known models. We propose a computationally efficient learning of this neural network using the maximum likelihood estimation approach to calibrate the parameters. The optimal model is identified using a hierarchical constructive procedure that progressively increases the model complexity. Extensive computer simulations validate the proposed approach and provide an accurate description of commodities prices dynamics.

  18. Can environmental sustainability be used to manage energy price risk?

    International Nuclear Information System (INIS)

    Henriques, Irene; Sadorsky, Perry

    2010-01-01

    Energy security issues and climate change are two of the most pressing problems facing society and both of these problems are likely to increase energy price variability in the coming years. This paper develops and estimates a model of a company's energy price exposure and presents evidence showing that increases in a company's environmental sustainability lowers its energy price exposure. This result is robust across two different measures of energy prices. These results should be useful to companies seeking new ways of addressing energy price risk as well as governments concerned about the impact that energy price risk can have on economic growth and prosperity. (author)

  19. Rise of oil prices and energy policy

    International Nuclear Information System (INIS)

    2005-01-01

    This document reprints the talk of the press conference given by D. de Villepin, French prime minister, on August 16, 2005 about the alarming rise of oil prices. In his talk, the prime minister explains the reasons of the crisis (increase of worldwide consumption, political tensions in the Middle East..) and presents the strategy and main trends of the French energy policy: re-launching of energy investments in petroleum refining capacities and in the nuclear domain (new generation of power plants), development of renewable energy sources and in particular biofuels, re-launching of the energy saving policy thanks to financial incentives and to the development of clean vehicles and mass transportation systems. In a second part, the prime minister presents his policy of retro-cession of petroleum tax profits to low income workers, and of charge abatement to professionals having an occupation strongly penalized by the rise of oil prices (truckers, farmers, fishermen, taxi drivers). (J.S.)

  20. Energy pricing and implications for the Nigerian environment

    International Nuclear Information System (INIS)

    Iwayemi, A.

    1999-01-01

    Energy pricing has been shown to have direct impact on energy demand and hence on energy efficiency. Regulated pricing which is below actual production price encourages inefficient use of energy with sometimes associated environmental problems. The important consideration presently being given to development of energy in an environmentally safe and economically prosperous society implies that energy pricing an play an important role in achieving these objectives

  1. Effect of the Energy Price Rate on Insulation Applications

    Directory of Open Access Journals (Sweden)

    Mehmet Sait Söylemez

    2012-07-01

    Full Text Available Energy price rate is a significant economical factor in the optimization searches. The energy price rate seems to be continuously available as the energy reserves of the world decreases. The possible increases in energy price rate will be unavoidable due to the reduction in the energy reserves. This is natural with respect to the main law of economics. Previous studies on the energy price rate are searched and discussed in the present work.

  2. An accurate European option pricing model under Fractional Stable Process based on Feynman Path Integral

    Science.gov (United States)

    Ma, Chao; Ma, Qinghua; Yao, Haixiang; Hou, Tiancheng

    2018-03-01

    In this paper, we propose to use the Fractional Stable Process (FSP) for option pricing. The FSP is one of the few candidates to directly model a number of desired empirical properties of asset price risk neutral dynamics. However, pricing the vanilla European option under FSP is difficult and problematic. In the paper, built upon the developed Feynman Path Integral inspired techniques, we present a novel computational model for option pricing, i.e. the Fractional Stable Process Path Integral (FSPPI) model under a general fractional stable distribution that tackles this problem. Numerical and empirical experiments show that the proposed pricing model provides a correction of the Black-Scholes pricing error - overpricing long term options, underpricing short term options; overpricing out-of-the-money options, underpricing in-the-money options without any additional structures such as stochastic volatility and a jump process.

  3. 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.

  4. 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

  5. Energy price dispute - companies are confident

    International Nuclear Information System (INIS)

    Marcan, P.; Slovak, P.

    2007-01-01

    Energy prices stipulated for 2003 were not compliant with the valid legislation. The Constitutional Court has repeatedly confirmed this fact. The dispute between several Slovak companies and the state will address the damage caused by illegal actions taken by the public authority, including loss of profit. A group of claimants represented by the Club 500 association is claiming up to 2 bil. Sk (57.97 mil. EUR) as compensation for the mistake made by the Office for Regulation of Network Industries (URSO), including the unclear calculation of the lost profit of companies. It will be up to the courts to decide whether the price deregulation really caused damage to the companies or whether they just took advantage of the faulty legislation.The companies base their claims on a decision of the Constitutional Court. Last year the Court twice announced that the 2003 energy prices were not compliant with valid legislation. At that time, Slovakia lacked a generally binding regulation that should have been in place according to the Act on Regulation of Network Industries. Currently, the role of these missing regulations has been taken over by URSO decrees. These stipulate justified costs and adequate profit of energy suppliers. The regulator had such a decree prepared at the end of 2002, but due to material stipulations and time constraints it did not publish it. (authors)

  6. 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.

  7. Contribution of price/expenditure factors of residential energy consumption in China from 1993 to 2011: A decomposition analysis

    International Nuclear Information System (INIS)

    Liu, Zengming; Zhao, Tao

    2015-01-01

    Highlights: • Analysis about energy prices and the residential expenditure on energy in China. • Though the prices of energy declined, the price effect was negative. • The effect of price was the strongest restraining contribution. • Discussion on the proportion of energy expenditure in residential incomes. - Abstract: Since the establishment of the market economy in 1993, the residential consumption of commodities, including energy, has been highly influenced by prices in China. However, the contribution of the factors related to prices in residential energy consumption is relatively unexplored. This paper extends the KAYA identity with price and expenditure factors and then applies the LMDI method to a decomposition of residential energy consumption in China from 1993 to 2011. Our results show the following: (1) Though the prices of a majority of residential energy sources in China declined, the effect of energy prices restrained residential energy consumption because the expenditure structure changed during the period. (2) During the research period, the urban energy expenditure proportion experienced two progresses of rising and falling, and the rural proportion, which was stable before 2002, sharply increased. (3) The energy consumption intensity effect, which is the negative of the average energy price effect, contributed to most of the decrease in energy consumption, whereas residential income played a key role in the growth of consumption. According to the conclusions, we suggest further marketization and deregulation of energy prices, the promotion of advanced energy types and guidance for better energy consumption patterns

  8. Natural gas - energy with continually rising prices

    Energy Technology Data Exchange (ETDEWEB)

    1981-08-01

    The gas industry has its problems. Its estimates for the future have been run over by the energy conservation trend. Contracts considered to be safe did not come off, and the cost of new contracts was much higher than expected. The gas supply contract with Russia - already celebrated as a German contribution to the easing of tension between East and West - remains a price problem. Consumers will have to pay so much for natural gas that utilities begin to fear district heating, the cost of which will be even higher.

  9. The effect of expected energy prices on energy demand: implications for energy conservation and carbon taxes

    International Nuclear Information System (INIS)

    Kaufmann, R.K.

    1994-01-01

    This paper describes an empirical method for estimating the effect of expected prices on energy demand. Data for expected oil prices are compiled from forecasts for real oil prices. The effect of expectations on energy demand is simulated with an expectation variable that proxies the return on investment for energy efficient capital. Econometric results indicate that expected prices have a significant effect on energy demand in the US between 1975 and 1989. A model built from the econometric results indicates that the way in which consumers anticipate changes in energy prices that are generated by a carbon tax affects the quantity of emissions abated by the tax. 14 refs., 4 figs., 1 tab

  10. Carbon pricing. A lever for energy transition

    International Nuclear Information System (INIS)

    2016-01-01

    The international community has set itself the target of limiting the global temperature rise to 2 deg. C. In today's world, the challenge is to invent new ways of manufacturing goods, producing food, travelling and keeping ourselves warm, without emitting more greenhouse gases (GHG) into the atmosphere than what we are technically able to remove from it. Climate action can be considered as an insurance for our societies against unacceptable costs generated by the risk of increasingly frequent climate-triggered natural disasters, irreversible damage to ecosystems and mass population migrations. In addition to avoid climate damage there are many benefits of climate action, including greater energy autonomy, reduced atmospheric pollution, which is harmful for human health, and the economic benefits of new green growth sectors. However, the efforts needed to make the transition to economies that emit fewer greenhouse gases must not be underestimated. This transition requires the mass redirection of investments into clean transport, renewable energy sources, building insulation and the development of agro-ecology, in a highly restricted financial and budgetary context. The economic and financial tools used for explicit or implicit carbon pricing give clear messages about the benefits of emitting less carbon, or alternatively the cost of greenhouse gas emissions for society. Consequently, they make it possible to accelerate the energy transition. 74 countries and over 1,000 businesses formed a coalition for carbon pricing during the United Nations Climate Summit in September 2014, held at the invitation of the UN Secretary-General. The goal of the coalition is to promote productive dialogue between public and private decision-makers concerning opportunities to extend carbon pricing policies. It has been officially launched on November 30, 2015, on the opening day of COP21. It has been officially launched on November 30, 2015, on the opening day of COP21. Members of

  11. A globally and universally stable price adjustment process

    Energy Technology Data Exchange (ETDEWEB)

    Herings, J.J.

    1994-12-31

    Starting with Walras, economists have been interested in adjustment processes that find for a given economy and an arbitrarily specified starting price vector a Walrasian equilibrium. Mathematically, the problem is equivalent to finding a fixed point of a function under the conditions of the Brouwer Fixed Point Theorem when starting with an arbitrary initial point. In the paper it is proved that an adjustment process, originally proposed by Van der Laan and Talman, converges for almost every economy, given any starting price vector, under standard assumptions. It is possible to obtain additional results in case the excess demand function satisfies the condition of gross substitutability. In this special case it can be shown that the qualitative behaviour of the process is similar to the one of the well-known Walrasian tatonnement process. Since there is a close relationship between the existence of always converging adjustment processes and the Brouwer Fixed Point Theorem it is not a surprise that there is a relation between adjustment processes and simplicial pivoting algorithms to compute fixed points. The adjustment process considered in this paper is related to a variable dimension fixed point algorithm of Doup, Van der Laan, and Talman. The path generated by the adjustment process can be followed arbitrarily close by their algorithm. Therefore the paper also yields a contribution to the understanding of the limit behaviour of simplicial pivoting algorithms.

  12. World coal prices and future energy demand

    International Nuclear Information System (INIS)

    Bennett, J.

    1992-01-01

    The Clean Air Act Amendments will create some important changes in the US domestic steam coal market, including price increases for compliance coal by the year 2000 and price decreases for high-sulfur coal. In the international market, there is likely to be a continuing oversupply which will put a damper on price increases. The paper examines several forecasts for domestic and international coal prices and notes a range of predictions for future oil prices

  13. Proceedings of the Fourth Forum: Energy Day of Croatia, Prices and Tariff Policy in Energy Supply

    International Nuclear Information System (INIS)

    1995-01-01

    The principle topic of the four Forums ''Croatian Energy Day'' was ''prices and tariff policy in energy supply''. 23 papers were presented, which were subdivided into four groups: 16th World Energy Council Congress, planning and prices in energetics, oil and natural gas prices and tariffs, and electric energy prices and tariffs

  14. Testing causal relationships between wholesale electricity prices and primary energy prices

    International Nuclear Information System (INIS)

    Nakajima, Tadahiro; Hamori, Shigeyuki

    2013-01-01

    We apply the lag-augmented vector autoregression technique to test the Granger-causal relationships among wholesale electricity prices, natural gas prices, and crude oil prices. In addition, by adopting a cross-correlation function approach, we test not only the causality in mean but also the causality in variance between the variables. The results of tests using both techniques show that gas prices Granger-cause electricity prices in mean. We find no Granger-causality in variance among these variables. -- Highlights: •We test the Granger-causality among wholesale electricity and primary energy prices. •We test not only the causality in mean but also the causality in variance. •The results show that gas prices Granger-cause electricity prices in mean. •We find no Granger-causality in variance among these variables

  15. 2009 energy prices in the European Union

    International Nuclear Information System (INIS)

    2010-01-01

    In 2009, the natural gas price fell down in the European Union (EU). This drop was of about -5% (excluding taxes) as an average for companies, and of about -3% for households (including taxes). On the other hand, the electricity prices raised by 3% for companies and by 5% for households. In France, only the gas price for companies has dropped between 2008 and 2009. The electricity prices remain significantly lower than the EU average: -29% for companies and -30% for households. The gas price in France remains close to the European average but is significantly lower than the average price in the euro area. (J.S.)

  16. The response of the Beijing carbon emissions allowance price (BJC) to macroeconomic and energy price indices

    International Nuclear Information System (INIS)

    Zeng, Shihong; Nan, Xin; Liu, Chao; Chen, Jiuying

    2017-01-01

    In 2013, China opened pilot carbon emission trading markets in seven provinces, where carbon emission allowances have now been traded for more than two years. In this paper, we employ a structural VAR model and the price of the Beijing carbon emission allowance to study the dynamic relationships among the price of the carbon emission allowance, economic development and the price of energy. This paper's data cover the period from April 2, 2014 to November 6, 2015. This paper provides information that will be helpful to both investors and governmental policy makers. The results show that (1) an increase of one standard deviation in the coal price leads to an initial increase of approximately 0.1% in the Beijing carbon price. After 2 days, there is a decrease of less than 0.1%, and the price gradually increases by approximately 0.1% after 30 days; (2) the price of the Beijing carbon emission allowance is mainly affected by its own historical price; (3) the Beijing carbon emission allowance price, crude oil price, natural gas price and economic development have positive – albeit non-significant – correlations. - Highlights: • This paper examines the response of the Beijing carbon emission allowance price. • A rise in coal prices will have different effects in different lag stages. • There are positive correlations between the BJC and economic development.

  17. 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.)

  18. Responding to high energy prices: energy management services

    International Nuclear Information System (INIS)

    Raynolds, M.

    2001-01-01

    Rapid growth in the number and sophistication of energy management companies has been observed in the wake of rising energy prices. These companies offer energy-efficiency consulting services to utilities, government and industry with the promise of improved cost efficiency, marketplace competitiveness and environmental commitments. The environmental benefits result from the reduction in emissions and pollutants associated with power production and natural gas used for space heating. In general, the stock in trade of these energy management companies is the energy audit involving evaluation of existing equipment in buildings and facilities and the resulting recommendations to install energy-efficient equipment such as lighting retrofits, boiler replacement, chiller replacement, variable speed drives, high-efficiency motors, improved insulation and weather proofing, water heaters and piping. The North American market for energy management services was estimated in 1997 at $208 billion (rising to $350 billion by 2004). Current market penetration is less than two per cent

  19. Revisiting Environmental Kuznets Curves through the energy price lens

    International Nuclear Information System (INIS)

    Rodríguez, Miguel; Pena-Boquete, Yolanda; Pardo-Fernández, Juan Carlos

    2016-01-01

    The goal of this paper is to provide new insights to elucidate the inconclusive results from the Environmental Kuznets Curve (EKC) empirical literature. For the first time in empirical literature, an econometric analysis includes the relative prices for several energy sources. The paper provides strong evidence on the relevance of energy prices to CO 2 emissions. Accordingly, one reason for the lack of agreement in the EKC literature may be the absence of energy prices in empirical exercises. The presence of relative energy price changes in the econometric specification confirms a monotonic and positive relationship between CO 2 and gross domestic product (GDP). Therefore, we may conclude that there is a decoupling process but without reaching any turning point on that relationship. The policy implications are straightforward. Direct climate action by policy makers is required to break the positive relationship between CO 2 and GDP. That conclusion has been reinforced by the reduction of energy prices since the middle of 2014. Otherwise, the trend in energy prices may reverse the relative decarbonisation processes accounted for in recent years in major developed countries. - Highlights: •EKC literature usually dismiss the major influence of energy prices. •Relative energy prices invalidate the evidence in favour of the EKC hypothesis. •Results may explain some contradictory observations found in the EKC literature. •Nowadays reduction in energy prices may break decarbonisation trends. •Direct action by policymakers is required to break the positive GDP-CO 2 link.

  20. 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

  1. The impact of energy prices on industrial energy efficiency and productivity

    International Nuclear Information System (INIS)

    Boyd, G.A.

    1993-01-01

    Energy prices moved into the forefront of concern in the mid and late seventies when two oil price shocks drove up energy prices dramatically. The analysis of the subsequent increase in industrial energy efficiency, i.e., decline in energy use per unit of industrial output, has filled volumes of government and private studies. Despite the volumes of analysis, there remains no consensus on the magnitude of the effect of energy prices on industrial energy efficiency or the effect of the change in energy prices on productivity. This paper examines some sources of the controversy to initiate a dialog between policy makers, analysts, and the energy consumers and producers

  2. Stationarity changes in long-run energy commodity prices

    International Nuclear Information System (INIS)

    Zaklan, Aleksandar; Abrell, Jan; Neumann, Anne

    2016-01-01

    Situated at the intersection of the literatures on speculative storage and non-renewable commodity scarcity, this paper considers whether changes in persistence have occurred in long-run U.S. prices of the energy commodities crude oil, natural gas and bituminous coal. We allow for a structural break when testing for a break in persistence to avoid a change in the stochastic properties of prices being confounded by an unaccounted-for deterministic shift in the price series. We find that coal prices are trend stationary throughout their evolution and that oil prices change from stationarity to non-stationarity in the decade between the late 1960s to late 1970s. The result on gas prices is ambiguous. Our results demonstrate the importance of accounting for a possible structural shift when testing for breaks in persistence, while being robust to the exact date of the structural break. Based on our analysis we caution against viewing long-run energy commodity prices as being non-stationary and conclude in favor of modeling commodity market fundamentals as stationary, meaning that speculative storage will tend to have a dampening effect on prices. We also cannot reject that long-run prices of coal and, with some hesitation, gas follow a Hotelling-type rule. In contrast, we reject the Hotelling rule for oil prices since the late 1960s/early 1970s. - Highlights: • This paper contributes to the literatures on speculative storage and scarcity. • We test if long-run U.S. coal, oil and gas prices became non-stationary. • We pre-test for structural breaks when testing for changes in persistence. • Coal prices are found to be trend stationary, oil prices become non-stationary. • We caution against modeling commodity market fundamentals as non-stationary.

  3. Empirical assessment of energy-price policies: the case for cross-price elasticities

    International Nuclear Information System (INIS)

    Frondel, M.

    2004-01-01

    Evaluations of energy-price policies are necessarily based on measures of the substitution of energy and non-energy inputs. Facing a variety of substitution elasticities, the central question arises which measure would be appropriate. Apparently, for a long time, this question has not been at issue: Allen's elasticities of substitution (AES) have been the most-used measures in applied production analysis. This paper's main contribution is an instructive survey of the origin of substitution measures and of the trinity of empirical substitution elasticities-AES, cross-price elasticities, and the Morishima elasticities of substitution (MES)-with particular emphasis on their interpretations and the perspectives that will be captured by these measures. This survey clarifies why classical cross-price elasticities are to be preferred for many practical purposes. Berndt and Wood's (Rev. Econom. Stat. 57(1975) 259) frequently applied data set of US manufacturing is used to illustrate why assessments of energy-price policies would be better based on cross-price elasticities like the energy-price elasticity of capital, rather than on AES or MES. (author)

  4. Energy sector pricing: On the role of neglected nonlinearity

    International Nuclear Information System (INIS)

    Kyrtsou, Catherine; Malliaris, Anastasios G.; Serletis, Apostolos

    2009-01-01

    Modern economies have been subjected to a number of shocks during the past several years such as the burst of the Internet bubble, terrorist attacks, corporate scandals, the war in Iraq, the uncertainty about energy prices, and the recent subprime mortgage crisis. In particular, during the last few years, the energy shock has caused concerns for potential stagflation for both the United States and numerous other countries. We perform numerous univariate tests for non-linearity and chaotic structure using price data from the energy sector to resolve whether the sector's fundamentals or exogenous shocks drive these prices.

  5. Energy sector pricing. On the role of neglected nonlinearity

    Energy Technology Data Exchange (ETDEWEB)

    Kyrtsou, Catherine [University of Macedonia (Greece); Malliaris, Anastasios G. [Loyola University Chicago (United States); Serletis, Apostolos [University of Calgary (Canada)

    2009-05-15

    Modern economies have been subjected to a number of shocks during the past several years such as the burst of the Internet bubble, terrorist attacks, corporate scandals, the war in Iraq, the uncertainty about energy prices, and the recent subprime mortgage crisis. In particular, during the last few years, the energy shock has caused concerns for potential stagflation for both the United States and numerous other countries. We perform numerous univariate tests for non-linearity and chaotic structure using price data from the energy sector to resolve whether the sector's fundamentals or exogenous shocks drive these prices. (author)

  6. Energy sector pricing: On the role of neglected nonlinearity

    Energy Technology Data Exchange (ETDEWEB)

    Kyrtsou, Catherine [University of Macedonia (Greece); Malliaris, Anastasios G. [Loyola University Chicago (United States); Serletis, Apostolos [University of Calgary (Canada)], E-mail: Serletis@ucalgary.ca

    2009-05-15

    Modern economies have been subjected to a number of shocks during the past several years such as the burst of the Internet bubble, terrorist attacks, corporate scandals, the war in Iraq, the uncertainty about energy prices, and the recent subprime mortgage crisis. In particular, during the last few years, the energy shock has caused concerns for potential stagflation for both the United States and numerous other countries. We perform numerous univariate tests for non-linearity and chaotic structure using price data from the energy sector to resolve whether the sector's fundamentals or exogenous shocks drive these prices.

  7. 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)

  8. 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)

  9. Economic impact of the energy price increase in Mexico

    International Nuclear Information System (INIS)

    Uri, N.D.; Boyd, R.

    1997-01-01

    One unknown with regard to the price increases for gasoline and electricity is what will be the expected impact as the Mexican economy struggles to rebound. This is of more than spurious concern since many Mexican industries rely both intensively and extensively on gasoline and electricity to produce their goods and services. For example, the petrochemical and steel manufacturing industries are major consumers in Mexico's industrial sector which accounts for 55% of total energy consumption. Mexico's steel industry is one of the most electricity intensive in the world, with heavy reliance on electric arc furnace technology. Mexico's transportation sector accounts for about 30% of total energy consumption. Higher energy prices are expected to affect significantly the price and quantity of the goods and services produced. The nature and extent of this effect is the subject of this article. Also the modelling approach to be used in assessing the impact of higher energy prices will be discussed. 2 tabs., 20 refs

  10. Innovation and the price of wind energy in the US

    International Nuclear Information System (INIS)

    Berry, David

    2009-01-01

    In the last ten years, the wind energy industry has experienced many innovations resulting in wider deployment of wind energy, larger wind energy projects, larger wind turbines, and greater capacity factors. Using regression analysis, this paper examines the effects of technological improvements and other factors on the price of wind energy charged under long-term contracts in the United States. For wind energy projects completed during the period 1999-2006, higher capacity factors and larger wind farms contributed to reductions in wind energy contract prices paid by regulated investor owned utilities in 2007. However, this effect was offset by rising construction costs. Turbine size (in MW) shows no clear relationship to contract prices, possibly because there may be opposing factors tending to decrease costs as turbine size increases and tending to increase costs as turbine size increases. Wind energy is generally a low-cost resource that is competitive with natural gas-fired power generation.

  11. TRADING ACTIVITY AND PRICES IN ENERGY FUTURES MARKET

    Directory of Open Access Journals (Sweden)

    Aysegul Ates

    2016-04-01

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

  12. Modelling energy spot prices by Lévy semistationary processes

    DEFF Research Database (Denmark)

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

    This paper introduces a new modelling framework for energy spot prices based on Lévy semistationary processes. Lévy semistationary processes are special cases of the general class of ambit processes. We provide a detailed analysis of the probabilistic properties of such models and we show how the...... they are able to capture many of the stylised facts observed in energy markets. Furthermore, we derive forward prices based on our spot price model. As it turns out, many of the classical spot models can be embedded into our novel modelling framework....

  13. The empirical relationship between energy futures prices and exchange rates

    International Nuclear Information System (INIS)

    Sadorsky, P.

    2000-01-01

    This paper investigates the interaction between energy futures prices and exchange rates. Results are presented to show that futures prices for crude oil, heating oil and unleaded gasoline are co-integrated with a trade-weighted index of exchange rates. This is important because it means that there exists a long-run equilibrium relationship between these four variables. Granger causality results for both the long- and short-run are presented. Evidence is also presented that suggests exchange rates transmit exogenous shocks to energy futures prices. 22 refs

  14. The impacts of energy prices on energy intensity: Evidence from China

    International Nuclear Information System (INIS)

    Hang, Leiming; Tu, Meizeng

    2007-01-01

    In this paper, we present a review of the deregulation of energy prices in China between 1985 and 2004 and assess the impacts of changes in energy prices on aggregate energy intensity and coal/oil/electricity intensity. We used time series data to provide estimates of energy price elasticities. Empirical results showed that: (1) The own-price elasticities of coal, oil, and aggregate energy were negative in periods both before and after 1995, implying that higher relative prices of different energy types lead to the decrease in coal, oil, and aggregate energy intensities. However, the positive own-price elasticity of electricity after 1995 probably indicates that the price effect was weaker than other factors such as income effect and population effect. (2) The impacts of energy prices were asymmetric over time. (3) Sectoral adjustment also drove the decrease in aggregate energy intensity. Although raising energy prices to boost efficiency of energy use seems to be an effective policy tool, other policy implications concerned with energy prices, such as energy supply security and fuel poverty, must also be considered

  15. Economic impact on the Florida economy of energy price spikes

    International Nuclear Information System (INIS)

    Mory, J.F.

    1992-01-01

    A substantial disturbance in oil supplies is likely to generate a large price upsurge and a downturn in the level of economic activity. Each of these two effects diminishes demand by a certain amount. The specific price surge required to reduce demand to the lower level of supply can be calculated with an oil demand function and with empirical estimations of the association between price spikes and declines in economic activity. The first section presents an energy demand model for Florida, which provides the price and income elasticities needed. The second section includes theoretical explanations and empirical estimations of the relationship between price spikes and recessions. Based on historical evidence, it seems that Florida's and the nation's economic systems are very sensitive to oil price surges. As price spikes appear damaging to the economy, it could be expected that reductions in the price of oil are beneficial to the system. That is likely to be the case in the long run, but no empirical evidence of favorable short-term effects of oil price decreases was found. Several possible explanations and theoretical reasons are offered to explain this lack of association. The final section presents estimates of the effect of oil disruptions upon specific industries in Florida and the nation

  16. The impact of high energy prices in Central American households

    Energy Technology Data Exchange (ETDEWEB)

    Cuesta, Ana; Manzano, Osmel

    2010-09-15

    Central American countries have one the highest energy costs in Latin America. We look at the potential social impact of higher energy prices using household data. Depending on a portfolio of characteristics, higher energy prices could have significant impact on the poor purchasing power. In countries like Guatemala, the poorest could see a higher impact than the richest. In Mexico and Panama, the impact is higher for the 'lower middle class'. We measure indirect effects of lack of energy sources, we conclude that children that live in households that cook with fossil fuels are subject to attend less to school.

  17. The relation between food price, energy density and diet quality

    Directory of Open Access Journals (Sweden)

    Margareta Bolarić

    2013-01-01

    Full Text Available Low energy density diet, high in fruits and vegetables, is related to lower obesity risk and to better health status, but is more expensive. High energy density diet, high in added sugar and fats, is more affordable, but is related to higher obesity and chronic diseases risk. The aim of this study was to report prices according to energy density (low vs. high of food items and to show how food affordability could affect food choice and consumers’ health. Data was collected for 137 raw and processed foods from three purchase sites in Zagreb (one representative for supermarket, one smaller shop and green market. Results showed that low energy density food is more expensive than high energy density food (for example, the price of 1000 kcal from green zucchini (15 kcal/100 g is 124.20 kn while the price of 1000 kcal from sour cream (138 kcal/100 g is 13.99 kn. Food energy price was significantly different (p<0.05 between food groups with highest price for vegetable products (159.04 ± 36.18 kn/1000 kcal and raw vegetables (97.90 ± 50.13 kn/1000 kcal and lowest for fats (8.49 ± 1.22 kn/1000 kcal and cereals and products (5.66 ± 0.76 kn/1000 kcal. Negative correlation (Spearman r=-0.72, p<0.0001 was observed for energy density (kcal/100 g and price of 1000 kcal. Therefore, it is advisable to develop strategies in order to reduce price of low energy density food and encourage its intake since it would improve diet quality, which could lead to better costumers’ health.

  18. Price and income elasticities of residential energy demand in Germany

    International Nuclear Information System (INIS)

    Schulte, Isabella; Heindl, Peter

    2017-01-01

    We apply a quadratic expenditure system to estimate price and expenditure elasticities of residential energy demand (electricity and heating) in Germany. Using official expenditure data from 1993 to 2008, we estimate an expenditure elasticity for electricity of 0.3988 and of 0.4055 for space heating. The own price elasticity for electricity is −0.4310 and −0.5008 in the case of space heating. Disaggregation of households by expenditure and socio-economic composition reveals that the behavioural response to energy price changes is weaker (stronger) for low-income (top-income) households. There are considerable economies of scale in residential energy use but scale effects are not well approximated by the new OECD equivalence scale. Real increases in energy prices show a regressive pattern of incidence, implying that the welfare consequences of direct energy taxation are larger for low income households. The application of zero-elasticities in assessments of welfare consequences of energy taxation strongly underestimates potential welfare effects. The increase in inequality is 22% smaller when compared to the application of disaggregated price and income elasticities as estimated in this paper. - Highlights: • We estimate price, income, and expenditure elasticities for residential energy demand in Germany. • We differentiate elasticities by income groups and household type. • Electricity and space heating are necessary goods since the expenditure elasticities are smaller than unity. • Low-income households show a weaker reaction to changing prices when compared to high-income households. • Direct energy taxation has regressive effects, meaning that larger burdens fall upon low-income households.

  19. Energy return on (energy) invested (EROI), oil prices, and energy transitions

    International Nuclear Information System (INIS)

    Heun, Matthew Kuperus; de Wit, Martin

    2012-01-01

    Very little work has been done so far to model, test, and understand the relationship between oil prices and EROI over time. This paper investigates whether a declining EROI is associated with an increasing oil price and speculates on the implications of these results on oil policy. A model of the relationship between EROI and oil market prices was developed using basic economic and physical assumptions and non-linear least-squares regression models to correlate oil production price with EROI using available data from 1954–1996. The model accurately reflects historical oil prices (1954–1996), and it correlates well with historical oil prices (1997–2010) if a linear extrapolation of EROI decline is assumed. As EROI declines below 10, highly non-linear oil price movements are observed. Increasing physical oil scarcity is already providing market signals that would stimulate a transition away from oil toward alternative energy sources. But, price signals of physical oil scarcity are not sufficient to guarantee smooth transitions to alternative fuel sources, especially when there is insufficient oil extraction technology development, a declining mark-up ratio, a non-linear EROI–cost of production relationship, and a non-linear EROI–price relationship. - Highlights: ► A model of the relationship between EROI and oil prices has been developed. ► As EROI declines below 10, highly non-linear oil price movements are expected. ► Physical oil scarcity provides market signals for a transition to alternatives. ► Scarcity price signals are insufficient for smooth transitions to alternatives.

  20. First Passage Time for Tempered Stable Process and Its Application to Perpetual American Option and Barrier Option Pricing

    OpenAIRE

    Kim, Young Shin

    2018-01-01

    In this paper, we will discuss an approximation of the characteristic function of the first passage time for a Levy process using the martingale approach. The characteristic function of the first passage time of the tempered stable process is provided explicitly or by an indirect numerical method. This will be applied to the perpetual American option pricing and the barrier option pricing. Numerical illustrations are provided for the calibrated parameters using the market call and put prices.

  1. Effects of stochastic energy prices on long-term energy-economic scenarios

    International Nuclear Information System (INIS)

    Krey, Volker; Martinsen, Dag; Wagner, Hermann-Josef

    2007-01-01

    In view of the currently observed energy prices, recent price scenarios, which have been very moderate until 2004, also tend to favor high future energy prices. Having a large impact on energy-economic scenarios, we incorporate uncertain energy prices into an energy systems model by including a stochastic risk function. Energy systems models are frequently used to aid scenario analysis in energy-related studies. The impact of uncertain energy prices on the supply structures and the interaction with measures in the demand sectors is the focus of the present paper. For the illustration of the methodological approach, scenarios for four EU countries are presented. Including the stochastic risk function, elements of high energy price scenarios can be found in scenarios with a moderate future development of energy prices. In contrast to scenarios with stochastic investment costs for a limited number of technologies, the inclusion of stochastic energy prices directly affects all parts of the energy system. Robust elements of hedging strategies include increasing utilization of domestic energy carriers, the use of CHP and district heat and the application of additional energy-saving measures in the end-use sectors. Region-specific technology portfolios, i.e., different hedging options, can cause growing energy exchange between the regions in comparison with the deterministic case

  2. Actuarial pricing of energy efficiency projects: lessons foul and fair

    International Nuclear Information System (INIS)

    Mathew, Paul; Kromer, J. Stephen; Sezgen, Osman; Meyers, Steven

    2005-01-01

    Recent market convulsions in the energy industry have generated a plethora of post-mortem analyses on a wide range of issues, including accounting rules, corporate governance, commodity markets, and energy policy. While most of these analyses have focused on business practices related to wholesale energy trading, there has been limited analysis of retail energy services, particularly energy efficiency projects. We suggest that there were several business concepts and strategies in the energy efficiency arena whose inherent value may have been masked by the larger failure of companies such as Enron. In this paper, we describe one such concept, namely, actuarial pricing of energy efficiency projects, which leverages a portfolio-based approach to risk management. First, we discuss the business drivers, contrasting this approach with conventional industry practice. We then describe the implementation of this approach, including an actuarial database, pricing curves, and a pricing process compatible with commodity pricing. We conclude with a discussion of the prospects and barriers for the further development of transparent and quantifiable risk management products for energy efficiency, a prerequisite for developing energy efficiency as a tradeable commodity. We address these issues from an experiential standpoint, drawing mostly on our experience in developing and implementing such strategies at Enron

  3. Pricing and Hedging Quanto Options in Energy Markets

    DEFF Research Database (Denmark)

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

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

  4. Pricing and Hedging Quanto Options in Energy Markets

    DEFF Research Database (Denmark)

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

    2015-01-01

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

  5. Natural gas prices force businesses to strategic energy policy

    International Nuclear Information System (INIS)

    Wisse, C.J.

    2006-01-01

    There are many factors which force businesses to think about a strategic energy policy: energy prices, supply security, regulations in the Netherlands and the European Union, technological developments with regard to fuels, etc. By using a decision making model several criteria can be assessed for different scenarios [nl

  6. Rising energy prices and the economics of water in agriculture

    NARCIS (Netherlands)

    Zilberman, D.; Sproul, T.; Rajagopal, D.; Sexton, S.; Hellegers, P.J.G.J.

    2008-01-01

    Rising energy prices will alter water allocation and distribution. Water extraction and conveyance will become more costly and demand for hydroelectric power will grow. The higher cost of energy will substantially increase the cost of groundwater, whereas increasing demand for hydroelectric power

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

    Energy Technology Data Exchange (ETDEWEB)

    Kloster, Kristian

    2003-07-01

    sudden changes. Forward pricing in this market may not be as precise as in other markets, which explains the instability of some results. My main result is that my model works for short-term contracts, but my risk parameter is not stable enough to make good estimates for long-term contracts. In chapter 8 I derived an option price for both European and American options. The problem with incompleteness, which arises when valuing energy-options on the spot price, is not a problem for these options. The forward contract is in itself storable, and therefore the market is complete for these options. Another reason why my model should work is that the cash flow of the forward contract takes place at the contracts maturity date. The result is that the option is always worth more than the forward contract, and the exercised option is worth the same as the forward contract. Note that this is not the case for futures. (Author)

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

    International Nuclear Information System (INIS)

    Kloster, Kristian

    2003-01-01

    sudden changes. Forward pricing in this market may not be as precise as in other markets , which explains the instability of some results. My main result is that my model works for short-term contracts, but my risk parameter is not stable enough to make good estimates for long-term contracts. In chapter 8 I derived an option price for both European and American options. The problem with incompleteness, which arises when valuing energy-options on the spot price, is not a problem for these options. The forward contract is in itself storable, and therefore the market is complete for these options. Another reason why my model should work is that the cash flow of the forward contract takes place at the contracts maturity date. The result is that the option is always worth more than the forward contract, and the exercised option is worth the same as the forward contract. Note that this is not the case for futures. (Author)

  9. Price Forecasting in the Day-Ahead Energy Market by an Iterative Method with Separate Normal Price and Price Spike Frameworks

    Directory of Open Access Journals (Sweden)

    Jarmo Partanen

    2013-11-01

    Full Text Available A forecasting methodology for prediction of both normal prices and price spikes in the day-ahead energy market is proposed. The method is based on an iterative strategy implemented as a combination of two modules separately applied for normal price and price spike predictions. The normal price module is a mixture of wavelet transform, linear AutoRegressive Integrated Moving Average (ARIMA and nonlinear neural network models. The probability of a price spike occurrence is produced by a compound classifier in which three single classification techniques are used jointly to make a decision. Combined with the spike value prediction technique, the output from the price spike module aims to provide a comprehensive price spike forecast. The overall electricity price forecast is formed as combined normal price and price spike forecasts. The forecast accuracy of the proposed method is evaluated with real data from the Finnish Nord Pool Spot day-ahead energy market. The proposed method provides significant improvement in both normal price and price spike prediction accuracy compared with some of the most popular forecast techniques applied for case studies of energy markets.

  10. Saving energy: bringing down Europe's enery prices

    NARCIS (Netherlands)

    Molenbroek, E.; Blok, K.

    2012-01-01

    In June 2011 the European Commission proposed a new Directive on Energy Efficiency. Its purpose is to put forward a framework to deliver the EU’s target of reducing its energy consumption by 20% by 2020. Currently, the EU is only on track to achieve half of those savings. Apart from the

  11. Pricing and Capacity Planning Problems in Energy Transmission Networks

    DEFF Research Database (Denmark)

    Villumsen, Jonas Christoffer

    strategy. In the Nordic electricity system a market with zonal prices is adopted. We consider the problem of designing zones in an optimal way explicitly considering uncertainty. Finally, we formulate the integrated problem of pipeline capacity expansion planning and transmission pricing in natural gas...... necessitates a radical change in the way we plan and operate energy systems. Another paradigm change which began in the 1990’s for electricity systems is that of deregulation. This has led to a variety of different market structures implemented across the world. In this thesis we discuss capacity planning...... and transmission pricing problems in energy transmission networks. Although the modelling framework applies to energy networks in general, most of the applications discussed concern the transmission of electricity. A number of the problems presented involves transmission switching, which allows the operator...

  12. Natural gas prices in the Maritimes : an energy market assessment

    International Nuclear Information System (INIS)

    2004-03-01

    The National Energy Board monitors the supply and price of natural gas in the Maritimes. This report contains the results and analysis of a survey of the wholesale natural gas prices paid by Canadian buyers in the Maritimes from November 2002 to October 2003. The objective of the report is to improve the understanding of the market factors that influence wholesale natural gas prices in the Maritimes. A comparative evaluation of domestic and export prices shows that Canadian buyers have had access to gas at prices similar to the export market at St. Stephen, New Brunswick. Since the number of participants in the domestic market is low, only four large buyers have a major impact on average prices in the region. The challenge for small buyers will be to buy gas from others who can divert some of their own sales of use. However, these sellers may not want to over-commit to new firm sales in case they have to re-purchase the gas during shortages that may occur due to fluctuations in production or shipping. It was noted that a new gas supply into the region would support many buyers and sellers, and could lead to a more transparent Maritime natural gas market. The National Energy Board is satisfied that the Maritime natural gas market is currently performing as well as can be expected, given its young stage of development. 1 tab., 8 figs., 1 appendix

  13. Bases for the Creation of Electric Energy Price Estimate Model

    International Nuclear Information System (INIS)

    Toljan, I.; Klepo, M.

    1995-01-01

    The paper presents the basic principles for the creation and introduction of a new model for the electric energy price estimate and its significant influence on the tariff system functioning. There is also a review of the model used presently for the electric energy price estimate which is based on the model of objectivized values of electric energy plants and production, transmission and distribution facilities, followed by proposed changes which would result in functional and organizational improvements within the electric energy system as the most complex subsystem of the whole power system. The model is based on substantial and functional connection of the optimization and analysis system with the electric energy economic dispatching, including marginal cost estimate and their influence on the tariff system as the main means in achieving better electric energy system's functioning quality. (author). 10 refs., 2 figs

  14. The bio-energies development: the role of biofuels and the CO{sub 2} price

    Energy Technology Data Exchange (ETDEWEB)

    Jouvet, Pierre-Andre [Universite Paris Ouest Nanterre La Defense, Climate Economics Chair (France); Lantz, Frederic [IFP Energies nouvelles, 1-4, avenue de Bois-Preau, 92852 Rueil-Malmaison Cedex (France); Le Cadre, Elodie [IFPEN, INRA, Universite Paris Ouest Nanterre La Defense (France)

    2012-07-01

    Reduction in energy dependency and emissions of CO{sub 2} via renewable energies targeted in the European Union energy mix and taxation system, might trigger the production of bio-energy production and competition for biomass utilization. Torrefied biomass could be used to produce second generation biofuels to replace some of the fuels used in transportation and is also suitable as feedstock to produce electricity in large quantities. This paper examines how the CO{sub 2} price affects demand of torrefied biomass in the power sector and its consequences on the profitability of second generation biofuel units (Biomass to Liquid units). Indeed, the profitability of the BtL units which are supplied only by torrefied biomass is related to the competitive demand of the power sector driven by the CO{sub 2} price and feed-in tariffs. We propose a linear dynamic model of supply and demand. On the supply side, a profit-maximizing torrefied biomass sector is modelled. The model aims to represent the transformation of biomass into torrefied biomass which could be sold to the refinery sector and the power sector. A two-sided (demanders and supplier) bidding process led us to arrive at the equilibrium price for torrefied biomass. The French case is used as an example. Our results suggest that the higher the CO{sub 2} price, the more stable and important the power sector demand. It also makes the torrefied biomass production less vulnerable to uncertainty on demand coming from the refining sector. The torrefied biomass co-firing with coal can offer a near-term market for the torrefied biomass for a CO{sub 2} emission price lower than 20 euros/tCO{sub 2}, which can stimulate development of biomass supply systems. Beyond 2020, the demand for torrefied biomass from the power sector could be substituted by the refining sector if the oil price goes up whatever the CO{sub 2} price. (authors)

  15. The bio-energies development: the role of biofuels and the CO2 price

    International Nuclear Information System (INIS)

    Jouvet, Pierre-Andre; Lantz, Frederic; Le Cadre, Elodie

    2012-01-01

    Reduction in energy dependency and emissions of CO 2 via renewable energies targeted in the European Union energy mix and taxation system, might trigger the production of bio-energy production and competition for biomass utilization. Torrefied biomass could be used to produce second generation biofuels to replace some of the fuels used in transportation and is also suitable as feedstock to produce electricity in large quantities. This paper examines how the CO 2 price affects demand of torrefied biomass in the power sector and its consequences on the profitability of second generation biofuel units (Biomass to Liquid units). Indeed, the profitability of the BtL units which are supplied only by torrefied biomass is related to the competitive demand of the power sector driven by the CO 2 price and feed-in tariffs. We propose a linear dynamic model of supply and demand. On the supply side, a profit-maximizing torrefied biomass sector is modelled. The model aims to represent the transformation of biomass into torrefied biomass which could be sold to the refinery sector and the power sector. A two-sided (demanders and supplier) bidding process led us to arrive at the equilibrium price for torrefied biomass. The French case is used as an example. Our results suggest that the higher the CO 2 price, the more stable and important the power sector demand. It also makes the torrefied biomass production less vulnerable to uncertainty on demand coming from the refining sector. The torrefied biomass co-firing with coal can offer a near-term market for the torrefied biomass for a CO 2 emission price lower than 20 euros/tCO 2 , which can stimulate development of biomass supply systems. Beyond 2020, the demand for torrefied biomass from the power sector could be substituted by the refining sector if the oil price goes up whatever the CO 2 price. (authors)

  16. Pricing foreign equity option under stochastic volatility tempered stable Lévy processes

    Science.gov (United States)

    Gong, Xiaoli; Zhuang, Xintian

    2017-10-01

    Considering that financial assets returns exhibit leptokurtosis, asymmetry properties as well as clustering and heteroskedasticity effect, this paper substitutes the logarithm normal jumps in Heston stochastic volatility model by the classical tempered stable (CTS) distribution and normal tempered stable (NTS) distribution to construct stochastic volatility tempered stable Lévy processes (TSSV) model. The TSSV model framework permits infinite activity jump behaviors of return dynamics and time varying volatility consistently observed in financial markets through subordinating tempered stable process to stochastic volatility process, capturing leptokurtosis, fat tailedness and asymmetry features of returns. By employing the analytical characteristic function and fast Fourier transform (FFT) technique, the formula for probability density function (PDF) of TSSV returns is derived, making the analytical formula for foreign equity option (FEO) pricing available. High frequency financial returns data are employed to verify the effectiveness of proposed models in reflecting the stylized facts of financial markets. Numerical analysis is performed to investigate the relationship between the corresponding parameters and the implied volatility of foreign equity option.

  17. Global energy outlook: an oil price scenario analysis

    International Nuclear Information System (INIS)

    Ghanem, S.; Lounnas, R.; Brennand, G.

    2000-01-01

    At stable oil prices in the low 20s (US dollars per barrel), a reference case for oil market development sees annual oil demand growth of 1.5 million barrels per day over the period 2000-10. At these prices, non-OPEC production growth, mainly from developing countries and the former Soviet Union, is expected to meet less than one-third of this increase in demand; this means that an annual rise in output of around 1 mb/d is required from OPEC, increasing to 1.4 mb/d yearly over the period 2010-20. However, high prices, above 30 dollars/b, lead to lower oil demand, and, in particular, a strong response in non-OPEC production for both conventional and unconventional oil. Consequently, there will be a sharp reduction in OPEC market share, with even production levels having to continually fall. Such a scenario suggests that a price of 30 dollars/b and above may be unsustainable. The moot question remains at what price non-linear non-OPEC production responses may be triggered in the future. (author)

  18. A model for energy pricing with stochastic emission costs

    International Nuclear Information System (INIS)

    Elliott, Robert J.; Lyle, Matthew R.; Miao Hong

    2010-01-01

    We use a supply-demand approach to value energy products exposed to emission cost uncertainty. We find closed form solutions for a number of popularly traded energy derivatives such as: forwards, European call options written on spot prices and European Call options written on forward contracts. Our modeling approach is to first construct noisy supply and demand processes and then equate them to find an equilibrium price. This approach is very general while still allowing for sensitivity analysis within a valuation setting. Our assumption is that, in the presence of emission costs, traditional supply growth will slow down causing output prices of energy products to become more costly over time. However, emission costs do not immediately cause output price appreciation, but instead expose individual projects, particularly those with high emission outputs, to much more extreme risks through the cost side of their profit stream. Our results have implications for hedging and pricing for producers operating in areas facing a stochastic emission cost environment.

  19. Estimation of demand response to energy price signals in energy consumption behaviour in Beijing, China

    International Nuclear Information System (INIS)

    He, Y.X.; Liu, Y.Y.; Xia, T.; Zhou, B.

    2014-01-01

    Highlights: • Demand response to energy price signals in energy consumption in Beijing is studied. • The electricity price is of great importance to Beijing’s energy market stability. • Industrial sectors have a large electricity self-elasticity and cross-elasticity. • When consuming electricity, customers pay more attention to natural gas price. • Analysis of demand response to energy price can provide guidance to energy policies. - Abstract: The energy price system in Beijing has not fully exploited customers’ price elasticity, and has a negative impact on achieving the goals of energy saving. This paper analyses the response behaviours of different customers to typical energy prices. As for electricity self-elasticity, the range of the primary, secondary, tertiary industry and residents are −0.026 to −0.033, −0.045 to −0.059, −0.035 to −0.047 and −0.024 to −0.032, respectively. As regards self-elasticity on coal, the range of the primary, secondary, tertiary industry and residents are −0.030 to −0.037, −0.066 to −0.093, −0.055 to −0.072 and −0.034 to −0.051, respectively. The self-elasticities on oil and natural gas are very weak. As for cross-elasticity, when consuming electricity and oil, customers mainly focus on the prices of natural gas, which are 0.185 and 0.112. When consuming coal and natural gas, customers are concerned about the electricity prices, and their cross-elasticities are 0.03 and 0.36, respectively. The estimation of demand response to energy price signals in energy consumption behaviours can provide a decision support for formulating rational energy price policies

  20. Energy symposium 2007 - energy secured?... for what price. Summary of the congress contributions

    International Nuclear Information System (INIS)

    2008-01-01

    With its topical title ''Energy secured?.. for what price'' the 2007 Energy Symposium has added yet another milestone to its success story. Energy is a fundamental aspect of our industrial society. It is of essential importance that the demand for low-cost energy is strategically secured. Energy prices are basic to calculations on products that have to be sold and exported. They are therefore also an essential factor in securing Europe as an industrial region

  1. The turning black tide : energy prices and the Canadian dollar

    International Nuclear Information System (INIS)

    Issa, R.; Lafrance, R.; Murray, J.

    2008-01-01

    This paper examined the relationship between energy prices and the Canadian-United States dollar real exchange rate. The researchers evaluated the standard Amano-van Norden (AvN) equation formulated to demonstrate that higher real energy prices lead to a depreciation of the Canadian dollar. Major developments in the Canadian energy market were discussed, as well as policy initiatives designed to address Canada's trade balance by increasing energy exports. The study examined the AvN equation using Monte Carlo experiments to determine the parameter stability of the equation. Results indicated that the co-integrating relationship in the standard AvN equation were no longer supported. Structural break tests were used to demonstrate that major changes in Canada's energy policies and cross-border trade and investment strategies have led to an increase in the Canadian dollar's value when energy prices are high. The study presented a new equation designed to account for Canadian dollar's appreciation since 2003. It was concluded that net energy exports in the 1990s outweighed the negatives associated with Canada's energy-intensive production processes. 39 refs., 6 tabs., 10 figs

  2. Differential electricity pricing and energy efficiency in South Africa

    International Nuclear Information System (INIS)

    Kohler, Marcel

    2014-01-01

    By international standards the economy of South Africa is extremely energy intensive with only a few countries having higher intensities. SA's primary energy use per unit of GDP is amongst the highest in the world. The high energy and electricity intensity of the economy partly reflects SA's resource endowments (in particular the abundance of coal) but is also a function of the historical under-pricing of coal and electricity by the authorities. South African mining and industrial electricity efficiency is particularly concerning and considerably lower than the global average. This paper sets out to fill a significant gap in the South African energy literature by highlighting the importance of incorporating electricity demand factors as part of the country's energy policy and electricity planning horizon. The paper focuses its attention on modelling the electricity consumption of SA's industrial and mining sectors given these account for the lion's share of electricity demand. A differential electricity pricing policy which targets electricity intensive industrial and mining activities (as practised in China since 2004) is viewed by the author to be a superior policy to blanket electricity price increases administered by authorities in an effort to encourage electricity savings and improve energy efficiency in South Africa. - Highlights: • SA's primary energy use per unit of GDP is amongst the highest in the world. • SA industrial electricity efficiency is considerably lower than the global average. • A differential electricity pricing policy which targets electricity intensive activities. • Differential tariffs raise the cost of energy inefficiency and induces energy saving. • Highlights importance of energy demand modelling in electricity supply planning

  3. The Dynamics of Energy-Grain Prices with Open Interest

    NARCIS (Netherlands)

    S.M. Hammoudeh (Shawkat); S. Sarafrazi (Soodabeh); C-L. Chang (Chia-Lin); M.J. McAleer (Michael)

    2011-01-01

    textabstractThis paper examines the short- and long-run daily relationships for a grain-energy nexus that includes the prices of corn, crude oil, ethanol, gasoline, soybeans, and sugar, and their open interest. The empirical results demonstrate the presence of these relationships in this nexus, and

  4. The price of energy efficiency in the Spanish housing market

    International Nuclear Information System (INIS)

    Ayala, Amaia de; Galarraga, Ibon; Spadaro, Joseph V.

    2016-01-01

    The housing sector is a substantial consumer of energy, and therefore a focus for energy savings efforts. The Energy Performance of Buildings Directive (EPBD), introduced in 2002 and revised in 2010, is a key instrument to increase the energy performance of buildings across the European Union. Following the implementation of the EPBD into Spanish law, all properties offered for sale or rented out in Spain are required to have an Energy Performance Certificate (EPC). Given that the implementation of the EPC scheme for new, existing and advertised properties is still very low in Spain, unlike other European housing markets, the Spanish one lacks market data on energy efficiency (EE) labels and their impact on housing price. To overcome this gap, we determine the EE ratings of a sample of 1507 homes across Spain on the basis of information collected previously through household surveys. This allowed us to answer the question of whether or not, and to what extent, Spanish housing markets capitalise the value of EE. We apply the hedonic-price technique and observe that more energy efficient dwellings have a price-premium between 5.4% and 9.8% compared to those with the same characteristics but lower EE level. - Highlights: •The Spanish housing market lacks data on energy efficiency (EE) labels. •We determine the EE ratings of a sample of 1507 homes across Spain. •Homes labelled A, B and C account for less than 10% of the housing stock. •Energy efficient dwellings have a price-premium between 5.4% and 9.8%, ceteris paribus.

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

    International Nuclear Information System (INIS)

    Percebois, J.

    2015-01-01

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

  6. Energy price increases and economic development in Malaysia.

    OpenAIRE

    Fong CO

    1984-01-01

    ILO pub-WEP pub. Working paper on the impact of higher energy costs (particularly petroleum price increases) on economic development in Malaysia, 1973 to 1983 - outlines trends in gross domestic product, balance of payments, trade and economic growth; considers household income and fuel expenditure of low income rural communitys; deals with choice of technology and employment in certain high power consumption industries; discusses energy policy implications. Graphs, maps, questionnaires, refe...

  7. Distribution System Pricing with Distributed Energy Resources

    Energy Technology Data Exchange (ETDEWEB)

    Hledik, Ryan [The Brattle Group, Cambridge, MA (United States); Lazar, Jim [The Regulatory Assistance Project, Montpelier, VT (United States); Schwartz, Lisa [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2017-08-16

    Technological changes in the electric utility industry bring tremendous opportunities and significant challenges. Customers are installing clean sources of on-site generation such as rooftop solar photovoltaic (PV) systems. At the same time, smart appliances and control systems that can communicate with the grid are entering the retail market. Among the opportunities these changes create are a cleaner and more diverse power system, the ability to improve system reliability and system resilience, and the potential for lower total costs. Challenges include integrating these new resources in a way that maintains system reliability, provides an equitable sharing of system costs, and avoids unbalanced impacts on different groups of customers, including those who install distributed energy resources (DERs) and low-income households who may be the least able to afford the transition.

  8. Energy intensities and the impact of high energy prices on producing and consuming sectors in Malaysia

    OpenAIRE

    Klinge Jacobsen, Henrik

    2007-01-01

    The increase in oil prices has put pressure on the global economy. Even economies that have a high degree of self-sufficiency concerning oil products are experiencing rising production costs and price increases for households energy use. Therefore, changes in energy policies are under consideration for countries highly dependent on imported energy as well as countries with a high degree of self-sufficiency. Examination of dependence on cheap energy sources for economic growth in different...

  9. Energy intensities and the impact of high energy prices on producing and consuming sectors in Malaysia

    OpenAIRE

    Klinge Jacobsen, Henrik

    2007-01-01

    The increase in oil prices has put pressure on the global economy. Even economies that have a high degree of self-sufficiency concerning oil products are experiencing rising production costs and price increases for households energy use. Therefore, changes in energy policies are under consideration for countries highly dependent on imported energy as well as countries with a high degree of self-sufficiency. Examination of dependence on cheap energy sources for economic growth in different eco...

  10. Energy policy and the high price of energy; Politique energetique et energie chere

    Energy Technology Data Exchange (ETDEWEB)

    Maillard, D. [Ministere de l' Economie, des Finances et de l' Industrie, Dir. Generale de l' Energie et des Matieres Premieres, 75 - Paris (France)

    2006-08-15

    Ever rising energy prices can mainly be set down to insufficient investments at various points in the chain of production. In combination with geopolitical or climatic circumstances, this spawns uncertainty about how energy will reach final consumers. France's energy policy act of 13 July 2005 has set four principal orientations: control the demand for energy, diversify the supply (by increasing recourse to replenishable sources and by keeping the nuclear option open), develop research and, in general, improve the security of supply lines. In January 2006, the French government published a memorandum in order to 're-launch a European energy policy in view of sustainable development. (author)

  11. Wind energy and electricity prices. Exploring the 'merit order effect'

    International Nuclear Information System (INIS)

    Morthost, P.E.; Ray, S.; Munksgaard, J.; Sinner, A.F.

    2010-04-01

    This report focuses on the effect of wind energy on the electricity price in the power market. As the report will discuss, adding wind into the power mix has a significant influence on the resulting price of electricity, the so called merit order effect (MOE). The merit order effect has been quantified and discussed in many scientific publications. This report ends the first phase of a study on the MOE, evaluating the impact of EWEA's 2020 scenarios on future European electricity prices. The basic principles of the merit order effect are provided in the first part of the document. The literature review itself contains methods and tools not only to quantify the merit order effect but also in order to forecast its future range and volume.

  12. A Study on strengthening demand management of energy price

    Energy Technology Data Exchange (ETDEWEB)

    Seo, Jung Hwan [Korea Energy Economics Institute, Euiwang (Korea)

    1999-02-01

    Until 1980s, energy sector had been operated as a monopoly of public enterprises in most countries. Price regulation of government had an influence on energy supply and demand by not fully giving information on market situation (supply and demand). Recently, as energy related technology and information technology have developed, the developed countries including UK and some developing countries could raise efficiency of industry through competitive market by recognizing the limit of government regulation and opening up many sectors of energy industry to the private sector. Korea is also implementing a measure for introducing competition through the participation of private sector into electricity and natural gas industries step by step. If the private sector is participated and competition is introduced, energy price cannot be a policy instrument setting up by the government, so demand management through price regulation is meaningless. Under such circumstances, a policy function should be converted to the direction of promoting competition and increasing market efficiency. In this study, it examines how the government regulation and industry has been changed through the transition of natural gas and electricity industries in UK, USA, and France and then it tries to derive suggestions to Korea. (author). 49 refs., 58 figs., 32 tabs.

  13. From a bundled energy-capacity pricing model to an energy-capacity-ancillary services pricing model

    International Nuclear Information System (INIS)

    Raineri, Ricardo; Arce, Raul; Rios, Sebastian; Salamanca, Carlos

    2008-01-01

    In this paper, we extend the Chilean power generation pricing mechanism, with capacity and energy payments, to one where ancillary services (AS), as frequency regulation and voltage control, are explicitly recognized. Adequacy and security attributes of the electric system and the public good characteristics of AS are set within the payment structure to distribute the financing of AS among those who benefit from their provision. The contribution to finance the provision of AS is determined assessing the value assigned to the system security by each agent, following what's an efficient pricing mechanism in the presence of public goods

  14. Impacts of high energy prices on long-term energy-economic scenarios for Germany

    International Nuclear Information System (INIS)

    Krey, V.; Markewitz, P.; Horn, M.; Matthes, C.; Graichen, V.; Harthan, R.O.; Repenning, J.

    2007-01-01

    Prices of oil and other fossil fuels on global markets have reached a high level in recent years. These levels were not able to be reproduced on the basis of scenarios and prognoses that were published in the past. New scenarios, based on higher energy price trajectories, have appeared only recently. The future role of various energy carriers and technologies in energy-economic scenarios will greatly depend on the level of energy prices. Therefore, an analysis of the impact of high energy prices on long-term scenarios for Germany was undertaken. Based on a reference scenario with moderate prices, a series of consistent high price scenarios for primary and secondary energy carriers were developed. Two scenarios with (i) continuously rising price trajectories and (ii) a price shock with a price peak during the period 2010-15 and a subsequent decline to the reference level are analysed. Two types of models have been applied in the analysis. The IKARUS energy systems optimisation model covers the whole of the German energy system from primary energy supply down to the end-use sectors. Key results in both high price scenarios include a replacement of natural gas by hard coal and renewable energy sources in electricity and heat generation. Backstop technologies like coal liquefaction begin to play a role under such conditions. Up to 10% of final energy consumption is saved in the end-use sectors, with the residential and transport sector being the greatest contributors. Even without additional restrictions, CO 2 emissions significantly drop in comparison to the reference scenario. The ELIAS electricity investment analysis model focuses on the power sector. In the reference scenario with current allocation rules in the emissions trading scheme, the CO 2 emissions decrease relatively steadily. The development is characterised by the phaseout of nuclear energy which is counterweighted by the increase of renewable. In the high price scenario, the CO 2 emissions temporarily

  15. The Role of Speculation in the Determination of Energy Prices

    Directory of Open Access Journals (Sweden)

    Umar M. Mustapha

    2012-01-01

    Full Text Available This paper seeks to evaluate the role of speculation in the determination of global energy prices. Designed as a case study, five major oil producing countries are the focus of this positivistic study: Nigeria, Mexico, Iran, Saudi Arabia and Russia. Data is collected through secondary sources. One-tailed and two-tailed tests carried out on the relationship between speculation and oil prices for each of the five countries yield critical values lower than the alpha. Thus, the null hypothesis is rejected in favor of the alternate hypothesis that ‘there is a significant and positive correlation between commodity derivatives (oil futures and oil prices’. The study found that while there is a positive relationship between speculation in the commodity derivatives market and oil prices, such a relationship is at best weak and attributes the high prices to several factors, including political instability, high and rising demand from overheating economies such as China, and falling production levels, among others. The paper emphasized the need to enhance the physical and financial transparency of the energy market, as well as the operation of the supply and demand fundamentals, including regulating against insider trading and market manipulation practices, strengthening the reporting requirements of the dealers in the market, and strengthening capital adequacy and margin requirements.

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

    International Nuclear Information System (INIS)

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

    2013-01-01

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

  17. Three essays on price dynamics and causations among energy markets and macroeconomic information

    Science.gov (United States)

    Hong, Sung Wook

    This dissertation examines three important issues in energy markets: price dynamics, information flow, and structural change. We discuss each issue in detail, building empirical time series models, analyzing the results, and interpreting the findings. First, we examine the contemporaneous interdependencies and information flows among crude oil, natural gas, and electricity prices in the United States (US) through the multivariate generalized autoregressive conditional heteroscedasticity (MGARCH) model, Directed Acyclic Graph (DAG) for contemporaneous causal structures and Bernanke factorization for price dynamic processes. Test results show that the DAG from residuals of out-of-sample-forecast is consistent with the DAG from residuals of within-sample-fit. The result supports innovation accounting analysis based on DAGs using residuals of out-of-sample-forecast. Second, we look at the effects of the federal fund rate and/or WTI crude oil price shock on US macroeconomic and financial indicators by using a Factor Augmented Vector Autoregression (FAVAR) model and a graphical model without any deductive assumption. The results show that, in contemporaneous time, the federal fund rate shock is exogenous as the identifying assumption in the Vector Autoregression (VAR) framework of the monetary shock transmission mechanism, whereas the WTI crude oil price return is not exogenous. Third, we examine price dynamics and contemporaneous causality among the price returns of WTI crude oil, gasoline, corn, and the S&P 500. We look for structural break points and then build an econometric model to find the consistent sub-periods having stable parameters in a given VAR framework and to explain recent movements and interdependency among returns. We found strong evidence of two structural breaks and contemporaneous causal relationships among the residuals, but also significant differences between contemporaneous causal structures for each sub-period.

  18. Prices make energy savings more then a slogan

    International Nuclear Information System (INIS)

    Jesny, M.; Hruz, J.

    2003-01-01

    Energy has become a commodity with economic price in Slovakia. For years the energy price has not fulfilled the basic economic criteria - covering of production costs. It was used as one of the instruments of Governments social policy. But the situation is changing. Another phase of bringing the prices to a realistic level brought along a price increase by tens of percents. As the energy prices are increasing and there is a perspective that they will grow further all possible reserves and cheaper energy sources have to be identified. A simplified energetic model of Slovak economy identifies three basic energy-consumer kinds - industry, buildings and transport. Industry uses about one half of the Slovakia's yearly energy-consume. Aim private companies to survive in a competitive environment guarantees of a rational approach towards energy consume. The fact that even in companies that use high volumes of primary raw material the energy consume is the highest cost item (many times higher then the labour costs) is the main incentive for looking for saving possibilities in this area. A decrease of the industries' share in energy consume may indicate some positive trends. The energy consume in industries has dropped by ten percent within ten years and its share on the overall consume is approaching the 45-percent level. This was partially caused by decreasing production volumes or closing down of production in several companies. Energy consume of buildings represents about 35 - 40 percent of the national consume i.e. is on a level similar to other European countries. This is a sector is the most important. It is its structure that is important. Currently there are 1,8 million flat units in Slovakia. Family houses represent 48 percent and the remaining 52 percent go to flats. In close to 800-thousand family houses owned by the people living in them nobody has to stress the importance of energy savings. The user knows exactly how much energy has been used. The ownership is

  19. Oil price volatility, economic growth and the hedging role of renewable energy

    OpenAIRE

    Rentschler, Jun E.

    2013-01-01

    This paper investigates the adverse effects of oil price volatility on economic activity and the extent to which countries can hedge against such effects by using renewable energy. By considering the Realized Volatility of oil prices, rather than following the standard approach of considering oil price shocks in levels, the effects of factor price uncertainty on economic activity are analy...

  20. Energy prices, technological knowledge and green energy innovation. A dynamic panel analysis of patent counts

    International Nuclear Information System (INIS)

    Kruse, Juergen; Wetzel, Heike; Koeln Univ.

    2014-01-01

    We examine the effect of energy prices and technological knowledge on innovation in green energy technologies. In doing so, we consider both demand-pull effects, which induce innovative activity by increasing the expected value of innovations, and technology-push effects, which drive innovative activity by extending the technological capability of an economy. Our analysis is conducted using patent data from the European Patent Office on a panel of 26 OECD countries over the period 1978-2009. Utilizing a dynamic count data model for panel data, we analyze 11 distinct green energy technologies. Our results indicate that the existing knowledge stock is a significant driver of green energy innovation for all technologies. Furthermore, the results suggest that energy prices have a positive impact on innovation for some but not all technologies and that the e.ect of energy prices and technological knowledge on green energy innovation becomes more pronounced after the Kyoto protocol agreement in 1997.

  1. Modeling energy price dynamics: GARCH versus stochastic volatility

    International Nuclear Information System (INIS)

    Chan, Joshua C.C.; Grant, Angelia L.

    2016-01-01

    We compare a number of GARCH and stochastic volatility (SV) models using nine series of oil, petroleum product and natural gas prices in a formal Bayesian model comparison exercise. The competing models include the standard models of GARCH(1,1) and SV with an AR(1) log-volatility process, as well as more flexible models with jumps, volatility in mean, leverage effects, and t distributed and moving average innovations. We find that: (1) SV models generally compare favorably to their GARCH counterparts; (2) the jump component and t distributed innovations substantially improve the performance of the standard GARCH, but are unimportant for the SV model; (3) the volatility feedback channel seems to be superfluous; (4) the moving average component markedly improves the fit of both GARCH and SV models; and (5) the leverage effect is important for modeling crude oil prices—West Texas Intermediate and Brent—but not for other energy prices. Overall, the SV model with moving average innovations is the best model for all nine series. - Highlights: • We compare a variety of GARCH and SV models for fitting nine series of energy prices. • We find that SV models generally compare favorably to their GARCH counterparts. • The SV model with moving average innovations is the best model for all nine series.

  2. Effect of Energy Efficiency Standards on Natural Gas Prices

    Energy Technology Data Exchange (ETDEWEB)

    Carnall, Michael; Dale, Larry; Lekov, Alex

    2011-07-26

    A primary justification for the establishment of energy efficiency standards for home appliances is the existence of information deficiencies and externalities in the market for appliances. For example, when a long-term homeowner purchases a new gas-fired water heater, she will maximize the value of her purchase by comparing the life-cycle cost of ownership of available units, including both total installed cost - purchase price plus installation costs - and operating cost in the calculus. Choice of the appliance with the lowest life-cycle costs leads to the most economically efficient balance between capital cost and fuel cost. However, if the purchaser's expected period of ownership is shorter than the useful life of the appliance, or the purchaser does not pay for the fuel used by the appliance, as is often the case with rental property, fuel cost will be external to her costs, biasing her decision toward spending less on fuel efficiency and resulting in the purchase of an appliance with greater than optimal fuel usage. By imposing an efficiency standard on appliances, less efficient appliances are made unavailable, precluding less efficient purchases and reducing fuel usage. The reduction in fuel demanded by residential users affects the total demand for such fuels as natural gas, for example. Reduced demand implies that residential customers are willing to purchase less gas at each price level. That is, the demand curve, labeled D{sub 0} in Figure 1, shifts to the left to D{sub 1}. If there is no change in the supply function, the supply curve will intersect the demand curve at a lower price. Residential demand is only one component of the total demand for natural gas. It is possible that total demand will decline very little if demand in other sectors increases substantially in response to a decline in the price. If demand does decrease, modeling studies generally confirm the intuition that reductions in demand for natural gas will result in reductions

  3. Unfair and excessive prices in the energy sector

    International Nuclear Information System (INIS)

    Van der Woude, M.

    2008-01-01

    The concept of competition refers to a process where firms dispute the favour of their customers by proposing better products at the lowest possible price. This consumer welfare creating process is to a large extent Darwinian in nature: those who cannot compete must die. The law of supply and demand is ruthless and so is competition law. Principles of fairness and justice are extraneous to competition law: the lion eats the deer. Still, EC competition law is not amoral, as illustrated by the very first example of abusive conduct given by Article 82 EC: 'directly or indirectly imposing unfair purchase or selling prices or other unfair trading conditions' can constitute an abuse. The concept of fairness as a constituent element of EC competition law may disturb those who analyze the competitive process through a scientific lens. Fairness does not relate to economic effects and cannot be measured or quantified. It is a concept that appeals to ethics and norms. The dichotomy between competition as an amoral welfare creating process, that can be the subject of economic research, and the normative concept of fairness does not necessarily lead to a contradiction. Fairness becomes relevant where the competitive process has ceased to play its welfare creating role: i.e. where monopolies prevail over perfect competition. When confronted to a monopoly, abstention is the customer's only choice and for some goods, such as food, clothing and housing, abstention is not considered as a realistic choice. In scenarios where the monopolist faces an inelastic demand curve, fairness is probably the customer's only safety buoy. The energy sector is one of the sectors where these situations occur. In our modern societies, customers expect the light to go on, when they turn the switch, and their houses to be heated, when activating their boilers. Candles and jumpers not offering realistic alternatives, demand is close to inelastic, at least on the short term. Moreover, the energy sector

  4. Energy conservation and energy prices: the Hungarian experience

    International Nuclear Information System (INIS)

    Molnar, L.

    1997-01-01

    The main sources of emissions into the outdoor air are from the energy sector (e.g. power plants), industry, the transport sector and the residential sector (buildings). The danger from most of these emissions is the fact that heat plants and boilers of residential buildings in particular, are usually in the areas where people live and work and therefore their emissions may have a direct effect on health. The best way to improve this situation - to diminish emissions and to improve air quality - is to increase the efficiency of both energy production and use. This also has important consequences for the economic use of the national energy carrier stock and diminishes the need to import energy which increases the competitiveness of goods produced. The Hungarian government has set out an Energy Saving Programme to address, among other things the fact that the Hungarian average energy consumption per capita is less than the EU average but the energy intensity (the necessary energy to produce 1 USD GDP) is 3.5-4.0 times higher than the EU average. It has been shown that the best way to save energy is to invest in energy-conscious behaviour and training. Recent studies in public and residential buildings have shown that there is a potential for high energy saving in Hungarian buildings which is independent from the building technology used. Also, the pay-back times of investment in the building envelope are significantly higher than the pay-back times of investment in heating-ventilating or control systems, while the energy saved was of the same magnitude. (author) 5 figs., 5 tabs., 6 refs

  5. Papers of a Canadian Institute conference : Managing energy price risk

    International Nuclear Information System (INIS)

    2003-01-01

    During this conference, participants were offered an opportunity to broaden their knowledge on fundamentals and technical risk management. In particular, the presentations addressed topics such as: the assessment and evaluation of risk tolerance and risk management options within an organization; the tightening of risk management procedures and policies; the measurement and monitoring of risk portfolio and value at risk; the efficient trading of structured energy products; and the use of call and put options, collars and straddles, swaps and other energy related derivatives. The participants also benefited from the use of case studies, panels and tutorials conducted by energy buyers, sellers and risk management experts. The conference represented a forum where participants discussed strategies and tactics for pricing, hedging and trading energy risk in deregulated markets. Of the thirteen presentations included in this document, four were included in this database. refs., tabs., figs

  6. Competition, control and price formation in the international energy industry

    Energy Technology Data Exchange (ETDEWEB)

    Bina, C. (Providence Coll., RI (USA))

    1989-07-01

    It is shown that, since the early 1970s, the market prices of all energy sources have been regulated by the market value of crude oil at the international level, which in turn depends upon the magnitude of individual value of production units located within the least productive oilfields of the continental USA. Thus, historically and methodologically, the globalization of the petroleum industry together with the preponderant influence of US oil capital over other energy sources, especially its control over US coal, can be considered as, first of all, the fundamental basis of an all-embracing energy industry consisting of all sources and, second, the driving force behind the internationalization of capital in the energy industry. (author).

  7. The impact of renewable energies on EEX day-ahead electricity prices

    OpenAIRE

    Schürle, Michael; Paraschiv, Florentina

    2014-01-01

    We analyze the impact of renewable energies, wind and photovoltaic, on the formation of day-ahead electricity prices at EEX. We give an overview of the policy decisions concerning the promotion of renewable energy sources in Germany, and discuss their consequences on day-ahead prices. An analysis of electricity spot prices reveals that the introduction of renewable energies enhances extreme price changes. In the frame of a dynamic fundamental model, we show that there has been a continuous el...

  8. Real-time pricing strategy of micro-grid energy centre considering price-based demand response

    Science.gov (United States)

    Xu, Zhiheng; Zhang, Yongjun; Wang, Gan

    2017-07-01

    With the development of energy conversion technology such as power to gas (P2G), fuel cell and so on, the coupling between energy sources becomes more and more closely. Centralized dispatch among electricity, natural gas and heat will become a trend. With the goal of maximizing the system revenue, this paper establishes the model of micro-grid energy centre based on energy hub. According to the proposed model, the real-time pricing strategy taking into account price-based demand response of load is developed. And the influence of real-time pricing strategy on the peak load shifting is discussed. In addition, the impact of wind power predicted inaccuracy on real-time pricing strategy is analysed.

  9. 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.

  10. The impact of renewable energies on EEX day-ahead electricity prices

    International Nuclear Information System (INIS)

    Paraschiv, Florentina; Erni, David; Pietsch, Ralf

    2014-01-01

    In this paper, we analyze the impact of renewable energies, wind and photovoltaic, on the formation of day-ahead electricity prices at EEX. We give an overview of the policy decisions concerning the promotion of renewable energy sources in Germany and discuss their consequences on day-ahead prices. An analysis of electricity spot prices reveals that the introduction of renewable energies enhances extreme price changes. In the frame of a dynamic fundamental model, we show that there has been a continuous electricity price adaption process to market fundamentals. Furthermore, the fundamental drivers of prices differ among hours with different load profiles. Our results imply that renewable energies decrease market spot prices and have implications on the traditional fuel mix for electricity production. However, the prices for the final consumers increased overall because they must pay in addition the feed-in tariffs for the promotion of renewable energy. - Highlights: • We analyze the impact of renewable energies on the day-ahead electricity prices at EEX. • We discuss the impact of renewables on day-ahead prices. • We show a continuous electricity price adaption process to market fundamentals. • Renewable energies decrease market spot prices and shift the merit order curve. • The prices for the final consumers however increased because of feed-in tariffs

  11. Sustainable energy prices and growth. Comparing macroeconomic and backcasting scenarios

    International Nuclear Information System (INIS)

    Ahlroth, Sofia; Hoejer, Mattias

    2007-01-01

    How do results from the sustainability research world of backcasting relate to the macroeconomic scenarios used for policy evaluation and planning? The answer is that they do not, mostly - they come from different scientific traditions and are not used in the same contexts. Yet they often deal with the same issues. We believe that much can be gained by bringing the two systems of thinking together. This paper is a first attempt to do so, by making qualitative comparisons between different scenarios and highlighting benefits and limitations to each of them. Why are the pictures we get of the energy future so different if we use a macroeconomic model from when using a backcasting approach based on sustainable energy use? It is evident that the methods for producing those two kinds of scenarios differ a lot, but the main reason behind the different results are found in the starting points rather than in the methods. Baseline assumptions are quite different, as well as the interpretations and importance attached to signals about the future. In this paper, it is discussed how those two types of scenarios differ and how they approach issues such as energy prices and growth. The discussion is based on a comparison between Swedish economic and sustainability scenarios. The economic scenarios aim at being forecasts of the future and are used as decision support for long-term policies. But are the assumptions in the economic scenarios reasonable? The sustainability scenarios are explicitly normative backcasting scenarios. They do not take the issue of growth and consumption fully into account. Could they be developed in this respect? The comparison between the scenarios is also used to look closer at the issue of energy prices in a society with sustainable energy use. One of the questions raised is if a low energy society calls for high energy prices. Moreover, the effects of tradable permits versus energy taxes is analysed in the context of how energy use could be kept low

  12. Rise of energy price, rise of agricultural prices: what medium- and long-term relations and implications?

    International Nuclear Information System (INIS)

    Voituriez, T.

    2009-01-01

    We review in this study the different factors which have been presented by the scientific community as possible explanations of the sudden upsurge in commodity prices between 2006 and 2008. We examine whether scientific evidence validates any causal relationship, and particularly emphasize the role of explanatory variables underpinning the co-movement of energy and food price rises. Our aim is to provide an up-to-date understanding of food and energy market relationships, so as to better anticipate the possible changes in the evolution of prices in the coming years. (author)

  13. A theoretical analysis of price elasticity of energy demand in multistage energy conversion systems

    International Nuclear Information System (INIS)

    Lowe, R.

    2003-01-01

    The objective of this paper is an analytical exploration of the problem of price elasticity of energy demand in multi-stage energy conversion systems. The paper describes in some detail an analytical model of energy demand in such systems. Under a clearly stated set of assumptions, the model makes it possible to explore both the impacts of the number of sub-systems, and of varying sub-system elasticities on overall system elasticity. The analysis suggests that overall price elasticity of energy demand for such systems will tend asymptotically to unity as the number of sub-systems increases. (author)

  14. A theoretical analysis of price elasticity of energy demand in multi-stage energy conversion systems

    International Nuclear Information System (INIS)

    Lowe, Robert

    2003-01-01

    The objective of this paper is an analytical exploration of the problem of price elasticity of energy demand in multi-stage energy conversion systems. The paper describes in some detail an analytical model of energy demand in such systems. Under a clearly stated set of assumptions, the model makes it possible to explore both the impacts of the number of sub-systems, and of varying sub-system elasticities on overall system elasticity. The analysis suggests that overall price elasticity of energy demand for such systems will tend asymptotically to unity as the number of sub-systems increases

  15. DCCA analysis of renewable and conventional energy prices

    Science.gov (United States)

    Paiva, Aureliano Sancho Souza; Rivera-Castro, Miguel Angel; Andrade, Roberto Fernandes Silva

    2018-01-01

    Here we investigate the inter-influence of oil prices and renewable energy sources. The non-stationary time series are scrutinized within the Detrended Cross-Correlation Analysis (DCCA) framework, where the resulting DCCA coefficient provides a useful and reliable index to the evaluate the cross correlation between events at the same time instant as well as at a suitably chosen time lags. The analysis is based on the quotient of two successive daily closing oil prices and composite indices of renewable energy sources in USA and Europe in the period 2006-2015, which was subject to several social and economic driving forces, as the increase of social pressure in favor of the use of non-fossil energy sources and the worldwide economic crisis that started in 2008. The DCCA coefficient is evaluated for different window sizes, extracting information for short and long term correlation between the indices. Particularly, strong correlation between the behavior of the two distinct economic sectors are observed for large time intervals during the worst period of the economic crisis (2008-2012), hinting at a very cautious behavior of the economic agents. Before and after this period, the behavior of two economic sectors are overwhelmingly uncorrelated or very weakly correlated. The results reported here may be useful to select proper strategies in future similar scenarios.

  16. Can Deployment of Renewable Energy and Energy Efficiency PutDownward Pressure on Natural Gas Prices

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Bolinger, Mark

    2005-06-01

    High and volatile natural gas prices have increasingly led to calls for investments in renewable energy and energy efficiency. One line of argument is that deployment of these resources may lead to reductions in the demand for and price of natural gas. Many recent U.S.-based modeling studies have demonstrated that this effect could provide significant consumer savings. In this article we evaluate these studies, and benchmark their findings against economic theory, other modeling results, and a limited empirical literature. We find that many uncertainties remain regarding the absolute magnitude of this effect, and that the reduction in natural gas prices may not represent an increase in aggregate economic wealth. Nonetheless, we conclude that many of the studies of the impact of renewable energy and energy efficiency on natural gas prices appear to have represented this effect within reason, given current knowledge. These studies specifically suggest that a 1% reduction in U.S. natural gas demand could lead to long-term average wellhead price reductions of 0.8% to 2%, and that each megawatt-hour of renewable energy and energy efficiency may benefit natural gas consumers to the tune of at least $7.5 to $20.

  17. Energy prices and the post oil/energy crisis Brazilian inflation: an input-output study

    Energy Technology Data Exchange (ETDEWEB)

    Lara-Resende, M.deM.

    1982-01-01

    This study is an attempt to understand the implications of the OPEC-induced severalfold increase in the international price of oil for average and sectoral domestic prices in Brazil, a large oil-importing open developing economy. Rather than using a Keynesian model (focusing on the universal characteristics of an economy), the study makes use of an open-price input-output model (capturing the structural characteristics of the Brazilian economy). The first three chapters, descriptive in nature, place in perspective the following three, which detail the model and the empirical results. The main conclusion is that, despite the significant increase observed in the post-crisis period, the relative percentage contribution of primary energy to wholesale inflation in Brazil is still relatively minor. A conservative estimate suggests that, in the years of substantial acceleration (1974 and 1979), approximately 15% of the wholesale inflation was due to energy (basically crude oil and oil derivatives). Though such low estimates are partly due to the limitations and assumptions underlying input-output analysis, it seems that the acceleration of inflation is related to more than cost increases originating in energy prices. It also seems to be related to agricultural and labor prices, as well as to the government's decision to abruptly and inopportunely raise several important product prices.

  18. Energy prices, volatility, and the stock market. Evidence from the Eurozone

    International Nuclear Information System (INIS)

    Oberndorfer, Ulrich

    2009-01-01

    This paper constitutes a first analysis on stock returns of energy corporations from the Eurozone. It focuses on the relationship between energy market developments and the pricing of European energy stocks. According to our results, oil price hikes negatively impact on stock returns of European utilities. However, they lead to an appreciation of oil and gas stocks. Interestingly, forecastable oil market volatility negatively affects European oil and gas stocks, implying profit opportunities for strategic investors. In contrast, the gas market does not play a role for the pricing of Eurozone energy stocks. Coal price developments affect the stock returns of European utilities. However, this effect is small compared to oil price impacts, although oil is barely used for electricity generation in Europe. This suggests that for the European stock market, the oil price is the main indicator for energy price developments as a whole. (author)

  19. Energy transition. A complete view on costs, performance, flexibility and prices of energies - Journal nr 11

    International Nuclear Information System (INIS)

    Boncorps, Jean-Claude; Larzilliere, Marc; Bomo, Nicole; Bruder, Michel; Buscailhon, Jean-Marie; Cappe, Daniel; DobiaS, Georges; Fregere, Jean-Pierre; Garipuy, Yves; Hougueres, Gerard; Martin, Jean-Loup; Mollard, Dominique; Moncomble, Jean-Eudes; Wiltz, Bruno; Roudier, Jacques

    2013-02-01

    This publication aims at proposing information on the issues of energy prices, of energy production costs and of energy delivery costs, and at showing their complexity while clearing up some wrong ideas about them. After an introduction on the addressed problematic, on information sources and on uncertainties, the authors give a general overview of the definitions of a cost, of a price, of primary, secondary and final energies, of user diversity and energy demand variation in time, of energy production variations in time, and present energy taxing in France and in the European Union, the CO 2 market, and energy savings in France in various sectors (transports, buildings, industry). Then, they address the various primary energies (coal, oil, natural gas, biomass, geothermal heat, thermal solar) and secondary energies (nuclear, hydroelectricity, ground-based wind energy, renewable sea energies, geothermal electricity, electricity grids, heat networks and co-generation) and discuss for each or some of them issues like: world market, costs and pricing, perspectives, resources and constraints, technologies

  20. The effects of the energy price reform on households consumption in Iran

    International Nuclear Information System (INIS)

    Moshiri, Saeed

    2015-01-01

    The substantial subsidizing of energy prices over the years has led to high energy consumption, inefficiencies, fiscal pressures, and environmental problems in Iran. To address the increasing socio-economic problems associated with the energy subsidies, the government embarked on an aggressive energy price reform through which energy subsidies were removed and cash handouts were given to all households in 2010. In this paper, I analyze the effectiveness of the energy price reform in Iran by estimating energy demand elasticities for households in different income groups. I apply a two-stage consumer optimization model and estimate the system of energy expenditures shares using the household budget survey data for the period 2001–2008. The results show that the overall price elasticities of demand are small, but income elasticities are close to one. The results also indicate heterogeneous responses to energy price and income changes in different income groups. Specifically, the urban households show stronger response to price changes, but rural households, particularly mid-income households, to income changes. These findings suggest that the current policy of price increases would not solely be able to reduce energy consumption and, therefore, it should be geared towards increasing energy efficiency through a series of price and non-price measures. - Highlights: • The effectiveness of the recent energy price reform in Iran is analyzed. • Energy demand elasticities for households in different income groups are estimated. • A two-stage optimization model was applied to estimate the system of equations using micro-data for 2001–2008. • The price elasticities are small and income elasticities rather large, but responses are heterogeneous. • A price and non-price reform policy package is needed for different income groups and regions

  1. International crude oil prices and the stock prices of clean energy and technology companies: Evidence from non-linear cointegration tests with unknown structural breaks

    International Nuclear Information System (INIS)

    Bondia, Ripsy; Ghosh, Sajal; Kanjilal, Kakali

    2016-01-01

    Increasing greenhouse gas emissions, exhaustibility and geo-politics induced price volatility of crude oil has magnified the importance of looking for alternative sources of energy. In this paper, we investigate the long term relationship of stock prices of alternative energy companies with oil prices in a multivariate framework. To this end, we use threshold cointegration tests, which endogenously incorporate possible regime shifts in long run relationship of underlying variables. In contrast to the findings of the previous study by Managi and Okimoto (2013), our results indicate presence of cointegration among the variables with two endogenous structural breaks. This study confirms that ignoring the presence of structural breaks in a long time series data, as has been done in previous study, can produce misleading results. In terms of causality, while the stock prices of alternative energy companies are impacted by technology stock prices, oil prices and interest rates in the short run, there is no causality running towards prices of alternative energy stock prices in the long run. The study discusses the possible reasons behind the empirical findings and concludes with a discussion on short run and long run investment opportunities for the investors. - Highlights: • Cointegration between alternative energy companies stock price and oil price. • Threshold cointegration tests are employed. • Cointegration among the variables exists with two endogenous structural breaks. • Alternative energy companies stock price impacted by oil prices in short run. • No causality running towards prices of alternative energy stock prices in long run.

  2. Energy consumption and economic development after the energy price increases of 1973

    International Nuclear Information System (INIS)

    Danielewski, J.

    1993-01-01

    The interdependence between energy consumption and economic development are highlighted in this research, which focuses on energy price rises between 1973 and 1989. Three groups of countries are identified, developing and developed market economies and centrally planned economies. Two areas of interdependence are examined, firstly the dynamic relationship between primary energy consumption growth and real economic growth and secondly the static relationship between primary energy consumption and national income. In the period under review, developing market economies reacted most strongly to higher energy prices, with lower energy consumption while maintaining real growth in the Gross Domestic Product. However developing countries and centrally planned economies increased their energy consumption per unit of national income although the rate of increase slowed after 1975. (UK)

  3. Relationships among the Non-Genetically Modified Soybean and Energy Prices

    OpenAIRE

    Aruga, Kentaka

    2011-01-01

    In the United States, recently the use of soybeans as an energy source has drawn attention. It is concerned in Japan that if the use of soybeans for energy keeps increasing, not only the price of conventional soybeans, which is used for soybean oil, but also the price of non-genetically modified organism (Non-GMO) soybeans, which is consumed for food, will increase. This paper examines the price relationships between the non-GMO and conventional soybean prices, and energy prices such as those...

  4. Restructuring plan on energy price preparing for the Convention on Climate Change

    Energy Technology Data Exchange (ETDEWEB)

    Kang, Kwang Kyu [Korea Environment Institute, Seoul (Korea)

    1998-12-01

    Most of greenhouse gases are emitted from energy consumption. Therefore, to reduce greenhouse gas emission, it is important to improve energy consumption efficiency and to turn industrial structure into the type of low energy. All of these are closely connected to energy price structure. With the present low energy price, it is difficult to have energy saving, which is necessary for improving energy efficiency, and to induce turning into low energy consumption. This study proposed the energy price system that can meet the Convention on Climate Change era and a definite alternative plan to minimize spin-offs on economy was presented. 24 refs., 2 figs., 31 tabs.

  5. Determinants of food price inflation in Finland—The role of energy

    International Nuclear Information System (INIS)

    Irz, Xavier; Niemi, Jyrki; Liu, Xing

    2013-01-01

    The agricultural commodity crisis of 2006–2008 and the recent evolution of commodity markets have reignited anxieties in Finland over fast-rising food prices and food security. Little is known about the strength of the linkages between food markets and input markets, such as the energy market. Using monthly series of price indices from 1995 to 2010, we estimate a vector error-correction (VEC) model in a cointegration framework in order to investigate the short-term and long-term dynamics of food price formation. The results indicate that a statistically significant long-run equilibrium relationship exists between the prices of food and those of the main variable inputs consumed by the food chain, namely agricultural commodities, labour, and energy. When judged by the magnitude of long-run pass-through rates, farm prices represent the main determinant of food prices, followed by wages in food retail and the price of energy. The parsimonious VEC model suggests that the dynamics of food price formation are dominated by a relatively quick process of adjustment to the long-run equilibrium, the half life of the transitional dynamics being six to eight months following a shock. - Highlights: • We investigate the dynamics of food price formation in Finland. • We establish the existence of a long-run equilibrium relationship between the prices of food, energy, agricultural commodities, and wages. • Energy price plays a significant but limited role in determining the equilibrium level of food prices

  6. Wood-energy: success depends on the price of fossil energies and on the carbon tax level

    International Nuclear Information System (INIS)

    Defaye, Serge; Maindrault, Marc

    2016-01-01

    Illustrated by several graphs indicating the structure of fossil energy prices, the comparison between domestic fuel and wood-energy for public network exploitation, the levels of fossil prices and carbon tax for non-subsidised projects, this article analyses the development of biomass (and more particularly wood-energy), the success of which depends on the price of fossil energies and on the carbon tax level. It outlines the differences of price-building elements between fossil and renewable heat, that subsidies are necessary if reference prices are low. It discusses the influence of carbon tax level and of fossil prices. It finally identifies conditions to be met (reduction of fossil energy supply and therefore higher fossil prices, introduction of a carbon tax) to reach COP objectives

  7. Accounting for asymmetric price responses and underlying energy demand trends in OECD industrial energy demand

    International Nuclear Information System (INIS)

    Adeyemi, Olutomi I.; Hunt, Lester C.

    2014-01-01

    This paper explores the way technical progress and improvements in energy efficiency are captured when modelling OECD industrial energy demand. The industrial sectors of the developed world involve a number of different practices and processes utilising a range of different technologies. Consequently, given the derived demand nature of energy, it is vital when modelling industrial energy demand that the impact of technical progress is appropriately captured. However, the energy economics literature does not give a clear guide on how this can be achieved; one strand suggests that technical progress is ‘endogenous’ via asymmetric price responses whereas another strand suggests that it is ‘exogenous’. More recently, it has been suggested that potentially there is a role for both ‘endogenous’ technical progress and ‘exogenous’ technical progress and consequently the general model should be specified accordingly. This paper therefore attempts to model OECD industrial energy demand using annual time series data over the period 1962–2010 for 15 OECD countries. Using the Structural Time Series Model framework, the general specifications allow for both asymmetric price responses (for technical progress to impact endogenously) and an underlying energy demand trend (for technical progress and other factors to impact exogenously, but in a non-linear way). The results show that almost all of the preferred models for OECD industrial energy demand incorporate both a stochastic underlying energy demand trend and asymmetric price responses. This gives estimated long-run income elasticities in the range of 0.34 to 0.96; estimated long-run price-maximum elasticities in the range of − 0.06 to − 1.22; estimated long-run price-recovery elasticities in the range of 0.00 to − 0.27; and estimated long-run price-cut elasticities in the range of 0.00 to − 0.18. Furthermore, the analysis suggests that when modelling industrial energy demand there is a place for

  8. Wideband quin-stable energy harvesting via combined nonlinearity

    Directory of Open Access Journals (Sweden)

    Chen Wang

    2017-04-01

    Full Text Available In this work, we propose a wideband quintuple-well potential piezoelectric-based vibration energy harvester using a combined nonlinearity: the magnetic nonlinearity induced by magnetic force and the piecewise-linearity produced by mechanical impact. With extra stable states compared to other multi-stable harvesters, the quin-stable harvester can distribute its potential energy more uniformly, which provides shallower potential wells and results in lower excitation threshold for interwell motion. The mathematical model of this quin-stable harvester is derived and its equivalent piecewise-nonlinear restoring force is measured in the experiment and identified as piecewise polynomials. Numerical simulations and experimental verifications are performed in different levels of sinusoid excitation ranging from 1 to 25 Hz. The results demonstrate that, with lower potential barriers compared with tri-stable counterpart, the quin-stable arrangement can escape potential wells more easily for doing high-energy interwell motion over a wider band of frequencies. Moreover, by utilizing the mechanical stoppers, this harvester can produce significant output voltage under small tip deflections, which results in a high power density and is especially suitable for a compact MEMS approach.

  9. Quantifying the value that energy efficiency and renewable energy provide as a hedge against volatile natural gas prices

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark; Wiser, Ryan; Bachrach, Devra; Golove, William

    2002-05-15

    Advocates of energy efficiency and renewable energy have long argued that such technologies can mitigate fuel price risk within a resource portfolio. Such arguments--made with renewed vigor in the wake of unprecedented natural gas price volatility during the winter of 2000/2001--have mostly been qualitative in nature, however, with few attempts to actually quantify the price stability benefit that these sources provide. In evaluating this benefit, it is important to recognize that alternative price hedging instruments are available--in particular, gas-based financial derivatives (futures and swaps) and physical, fixed-price gas contracts. Whether energy efficiency and renewable energy can provide price stability at lower cost than these alternative means is therefore a key question for resource acquisition planners. In this paper we evaluate the cost of hedging gas price risk through financial hedging instruments. To do this, we compare the price of a 10-year natural gas swap (i.e., what it costs to lock in prices over the next 10 years) to a 10-year natural gas price forecast (i.e., what the market is expecting spot natural gas prices to be over the next 10 years). We find that over the past two years natural gas users have had to pay a premium as high as $0.76/mmBtu (0.53/242/kWh at an aggressive 7,000 Btu/kWh heat rate) over expected spot prices to lock in natural gas prices for the next 10 years. This incremental cost to hedge gas price risk exposure is potentially large enough - particularly if incorporated by policymakers and regulators into decision-making practices - to tip the scales away from new investments in variable-price, natural gas-fired generation and in favor of fixed-price investments in energy efficiency and renewable energy.

  10. Quantifying the value that energy efficiency and renewable energy provide as a hedge against volatile natural gas prices

    International Nuclear Information System (INIS)

    Bolinger, Mark; Wiser, Ryan; Bachrach, Devra; Golove, William

    2002-01-01

    Advocates of energy efficiency and renewable energy have long argued that such technologies can mitigate fuel price risk within a resource portfolio. Such arguments-made with renewed vigor in the wake of unprecedented natural gas price volatility during the winter of 2000/2001-have mostly been qualitative in nature, however, with few attempts to actually quantify the price stability benefit that these sources provide. In evaluating this benefit, it is important to recognize that alternative price hedging instruments are available-in particular, gas-based financial derivatives (futures and swaps) and physical, fixed-price gas contracts. Whether energy efficiency and renewable energy can provide price stability at lower cost than these alternative means is therefore a key question for resource acquisition planners. In this paper we evaluate the cost of hedging gas price risk through financial hedging instruments. To do this, we compare the price of a 10-year natural gas swap (i.e., what it costs to lock in prices over the next 10 years) to a 10-year natural gas price forecast (i.e., what the market is expecting spot natural gas prices to be over the next 10 years). We find that over the past two years natural gas users have had to pay a premium as high as$0.76/mmBtu (0.53/242/kWh at an aggressive 7,000 Btu/kWh heat rate) over expected spot prices to lock in natural gas prices for the next 10 years. This incremental cost to hedge gas price risk exposure is potentially large enough - particularly if incorporated by policymakers and regulators into decision-making practices - to tip the scales away from new investments in variable-price, natural gas-fired generation and in favor of fixed-price investments in energy efficiency and renewable energy

  11. A Generalized Schwartz Model for Energy Spot Prices - Estimation using a Particle MCMC Method

    DEFF Research Database (Denmark)

    Lunde, Asger; Brix, Anne Floor; Wei, Wei

    We propose an energy spot price model featuring a two-factor price process and a two-component stochastic volatility process. The first factor in the price process captures the normal variations; the second accounts for spikes. The two-component volatility allows for a flexible autocorrelation st...

  12. Renewable Energy Price-Stability Benefits in Utility Green Power Programs

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L. A.; Cory, K. S.; Swezey, B. G.

    2008-08-01

    This paper examines utility experiences when offering the fixed-price benefits of renewable energy in green pricing programs, including the methods utilized and the impact on program participation. It focuses primarily on utility green pricing programs in states that have not undergone electric industry restructuring.

  13. Renewable Energy Price-Stability Benefits in Utility Green Power Programs. 36 pp

    Energy Technology Data Exchange (ETDEWEB)

    Bird, Lori A. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Cory, Karlynn S. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Swezey, Blair G. [Applied Materials, Santa Clara, CA (United States)

    2008-08-01

    This paper examines utility experiences when offering the fixed-price benefits of renewable energy in green pricing programs, including the methods utilized and the impact on program participation. It focuses primarily on utility green pricing programs in states that have not undergone electric industry restructuring.

  14. 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

  15. The Multiscale Fluctuations of the Correlation between Oil Price and Wind Energy Stock

    Directory of Open Access Journals (Sweden)

    Shupei Huang

    2016-06-01

    Full Text Available Wind energy is considered a clear and sustainable substitution for fossil fuel, and the stock index of the wind energy industry is closely related to the oil price fluctuation. Their relationship is characterized by multiscale and time-varying features based on a variety of stakeholders who have different objectives within various time horizons, which makes it difficult to identify the factor in which time scale could be the most influential one in the market. Aiming to explore the correlation between oil price and the wind energy stock index from the time–frequency domain in a dynamic perspective, we propose an algorithm combining the wavelet transform, complex network, and gray correlation analyses and choose the Brent oil price and the international securities exchange (ISE global wind energy index from January 2006 to October 2015 in daily frequency as data sample. First, we define the multiscale conformation by a set of fluctuation information with different time horizons to represent the fluctuation status of the correlation of the oil–wind nexus rather than by a single original correlation value. Then, we transform the multiscale conformation evolution into a network model, and only 270 multiscale conformations and 710 transmissions could characterize 2451 data points. We find that only 30% of conformations and transmissions work as a backbone of the entire correlation series; through these major conformations, we identify that the main factor that could influence the oil–wind nexus are long-term components, such as policies, the status of the global economy and demand–supply issues. In addition, there is a clustering effect and transmissions among conformations that mainly happen inside clusters and rarely among clusters, which means the interaction of the oil–wind nexus is stable over a short period of time.

  16. The impact of intermittent sources of energy on the market price of electricity

    International Nuclear Information System (INIS)

    Adigbli, Patrick; Mahuet, Audrey

    2013-01-01

    Parallel to liberalization of the electricity market, these past twenty years have been marked by a strong expansion of renewable energy in Europe. The increasing share of renewables in the energy mix - with a goal set by the European Commission at 20% by 2020 - has an impact on market prices. In the short run, subsidized intermittent energy may lead to lower prices or even to negative prices during certain periods of the year

  17. Principles, effects and problems of differential power pricing policy for energy intensive industries in China

    International Nuclear Information System (INIS)

    Lin, Boqiang; Liu, Jianghua

    2011-01-01

    The Chinese government canceled the preferential power pricing policies for energy intensive industries and imposed a reverse differential pricing policy in order to promote energy efficiency and the adjustment and upgrading of the industrial structure. This article analyzes the principles of China's differential power pricing policy, the externalities of energy and the modified Ramsey pricing rule, and also points out the policy implications of China's differential power pricing policy. In our samples, we investigate eight power intensive products in the Henan province with respect to their power consumption per unit (power intensity), electricity cost, total cost, the electricity tariff and profit, in order to test the effects of the differential power pricing policy. The results show that the primary effect of the differential power pricing policy is that enterprises decrease their total costs and improve their productive efficiencies in advance, in anticipating a higher electricity tariff. -- Research highlights: → The article suggests a modified Ramsey pricing model where demand elasticity is replaced by elasticity of energy consumption and polluting elasticity to internalize the negative externality of high energy intensive industry. → The article assesses the effects of differential pricing policy through on-site survey of high energy intensive industries in Henan province and analyzes the reasons behind those effects. → The article presents the lessons and policy implications of implementing differential pricing policy aimed at energy conservation and emission reduction.

  18. Higher energy prices are associated with diminished resources, performance and safety in Australian ambulance systems.

    Science.gov (United States)

    Brown, Lawrence H; Chaiechi, Taha; Buettner, Petra G; Canyon, Deon V; Crawford, J Mac; Judd, Jenni

    2013-02-01

    To evaluate the impact of changing energy prices on Australian ambulance systems. Generalised estimating equations were used to analyse contemporaneous and lagged relationships between changes in energy prices and ambulance system performance measures in all Australian State/Territory ambulance systems for the years 2000-2010. Measures included: expenditures per response; labour-to-total expenditure ratio; full-time equivalent employees (FTE) per 10,000 responses; average salary; median and 90th percentile response time; and injury compensation claims. Energy price data included State average diesel price, State average electricity price, and world crude oil price. Changes in diesel prices were inversely associated with changes in salaries, and positively associated with changes in ambulance response times; changes in oil prices were also inversely associated with changes in salaries, as well with staffing levels and expenditures per ambulance response. Changes in electricity prices were positively associated with changes in expenditures per response and changes in salaries; they were also positively associated with changes in injury compensation claims per 100 FTE. Changes in energy prices are associated with changes in Australian ambulance systems' resource, performance and safety characteristics in ways that could affect both patients and personnel. Further research is needed to explore the mechanisms of, and strategies for mitigating, these impacts. The impacts of energy prices on other aspects of the health system should also be investigated. © 2013 The Authors. ANZJPH © 2013 Public Health Association of Australia.

  19. North American natural gas liquids pricing and convergence : an energy market assessment

    International Nuclear Information System (INIS)

    2001-05-01

    A background on natural gas liquids (NGL) pricing was presented along with a discussion regarding the impact of energy price convergence. The high energy prices in the fall of 2000 were a result of many factors, including the high price of NGLs. All NGL components such as ethane, propane and butane can be used as petrochemical feedstock. In the winter of 2000/2001 the relationship between liquids and crude oil prices collapsed when high energy prices led to a situation where, for a short while, extraction of liquids from natural gas became uneconomic since producers got more value for NGLs left in the gas stream. As a result, when the supply and demand balances for NGL tightened in many regions of North America, NGL prices were reflecting the unprecedented high natural gas prices. This paper also explained how the four major North American NGL trading hubs in Alberta, Ontario, Kansas and Texas operate. The pricing events of 2000 have impacted on the NGL industry and energy prices remain an issue since both crude oil and natural gas price are forecasted to remain strong in the near future. 5 figs

  20. 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

  1. Stable classification of the energy-momentum tensor. Summary

    International Nuclear Information System (INIS)

    Guzman-Sanchez, A.R.; Przanowski, M.; Plevansky, J.

    1990-01-01

    Starting with the algebraic classification of the energy-momentum tensor given by Plebansky, it is established that this classification is unstable under versal deformations and a new (stable) classification is given. In order to keep the text to reasonable length, we just write the basic ideas and some results. (Author) (Author)

  2. Exact solutions, energy, and charge of stable Q-balls

    Energy Technology Data Exchange (ETDEWEB)

    Bazeia, D.; Marques, M.A. [Universidade Federal da Paraiba, Departamento de Fisica, Joao Pessoa, PB (Brazil); Menezes, R. [Universidade Federal da Paraiba, Departamento de Ciencias Exatas, Rio Tinto, PB (Brazil); Universidade Federal de Campina Grande, Departamento de Fisica, Campina Grande, PB (Brazil)

    2016-05-15

    In this work we deal with nontopological solutions of the Q-ball type in two spacetime dimensions. We study models of current interest, described by a Higgs-like and other, similar potentials which unveil the presence of exact solutions. We use the analytic results to investigate how to control the energy and charge to make the Q-balls stable. (orig.)

  3. A forecast of energy demand in Japan considering asymmetric price elasticities

    International Nuclear Information System (INIS)

    Nagata, Y.

    2001-01-01

    By estimating the past energy demand function by sector and types of energy in Japan, the existence of asymmetric price elasticities in most the functions was confirmed. As part of the study, a simple energy and economy model was also constructed to compare future energy demand between the cases with symmetric or asymmetric price elasticities. Results show that future energy demand with asymmetric price elasticities is greater than that with symmetric price elasticities. This result is attributed to the fact that in the asymmetric case, past maximum prices are the most significant factors and price effects will not work unless future energy prices exceed past maximum levels. One of the important implications of this study, i.e. the effect on controlling carbon dioxide emissions, is highlighted. It is pointed out that since price elasticities are small, a high rate of carbon tax is needed to decrease carbon dioxide emissions; meaning that the carbon tax should be high enough for future energy prices to exceed the historical maximum levels. The model developed in this study does not incorporate the substitution between fuels, it is, therefore, not suitable for the further quantitative analysis of the carbon tax. While the study does not deny the applicability of the econometric approach to greenhouse gas analysis, it does point to the an importance of being conscious of the limits of the econometric approach. 7 refs., 4 tabs., 3 figs, 1 appendix

  4. Energy consumption and energy R and D in OECD: Perspectives from oil prices and economic growth

    International Nuclear Information System (INIS)

    Leng Wong, Siang; Chia, Wai-Mun; Chang, Youngho

    2013-01-01

    We estimate the short-run and long-run elasticities of various types of energy consumption and energy R and D to changes in oil prices and income of the 20 OECD countries over the period of 1980–2010 using the Nerlove partial adjustment model (NPAM). We find negative income elasticity for coal consumption but positive income elasticity for oil and gas consumption suggesting the importance of economic growth in encouraging the usage of cleaner energy from coal to oil and gas. By introducing time dummies into the regressions, we show that climatic mitigation policies are able to promote the usage of cleaner energies. Through the dynamic linkages between energy consumption and energy R and D, we find that fossil fuel consumption promotes fossil fuel R and D and fossil fuel R and D in turn drives its own consumption. Renewable energy R and D which is more responsive to economic growth reduces fossil fuel consumption and hence fossil fuel R and D. - Highlights: • Economic growth encourages the use of cleaner forms of energy. • Economic growth promotes renewable energy R and D. • Subsidies for renewable energy R and D promote renewable energy consumption. • Fossil fuel R and D promotes fossil fuel consumption in countries with oil reserves. • Oil consumption reduces significantly with higher oil prices

  5. Energy policies in a macroeconomic model: an analysis of energy taxes when oil prices decline

    International Nuclear Information System (INIS)

    Capros, P.; Karadeloglou, P.; Mentzas, G.

    1992-01-01

    This paper attempts an analysis of energy and macroeconomic policy issues in oil-importing countries within the context of decreasing oil prices and macroeconomic modelling. A medium-term perspective is retained and the assumption is made that the economy experiences unemployment and excess capacity when the price declines. The analysis excludes any response elements that refer to long-term equilibria, optimum allocation of resources or welfare characterization of results which should be dealt with within the context of price adjusted equilibrium models. This paper adopts the approach of quantity adjusted neo-Keynesian macroeconomic models. The paper also inquires into the macroeconomic models currently used by the Commission of the European Communities. The analysis is carried out using the HGRV model which is a large-scale neo-Keynesian multisectoral macroeconomic model of the Greek economy. (UK)

  6. A meta-analysis on the price elasticity of energy demand

    International Nuclear Information System (INIS)

    Labandeira, Xavier; Labeaga, José M.; López-Otero, Xiral

    2017-01-01

    Price elasticities of energy demand have become increasingly relevant in estimating the socio-economic and environmental effects of energy policies or other events that influence the price of energy goods. Since the 1970s, a large number of academic papers have provided both short and long-term price elasticity estimates for different countries using several models, data and estimation techniques. Yet the literature offers a rather wide range of estimates for the price elasticities of demand for energy. This paper quantitatively summarizes the recent, but sizeable, empirical evidence to facilitate a sounder economic assessment of (in some cases policy-related) energy price changes. It uses meta-analysis to identify the main factors affecting short and long term elasticity results for energy, in general, as well as for specific products, i.e., electricity, natural gas, gasoline, diesel and heating oil. - Highlights: • An updated and wider meta-analysis on price elasticities of energy demand. • Energy goods are shown to be price inelastic both in the short and long-term. • Results are relevant for a proper design and implementation of energy policies. • Our results refer to energy, as a whole, and specific energy goods.

  7. Oil prices, nuclear energy consumption, and economic growth: New evidence using a heterogeneous panel analysis

    International Nuclear Information System (INIS)

    Lee, Chien-Chiang; Chiu, Yi-Bin

    2011-01-01

    This paper applies panel data analysis to examine the short-run dynamics and long-run equilibrium relationships among nuclear energy consumption, oil prices, oil consumption, and economic growth for developed countries covering the period 1971-2006. The panel cointegration results show that in the long run, oil prices have a positive impact on nuclear energy consumption, suggesting the existence of the substitution relationship between nuclear energy and oil. The long-run elasticity of nuclear energy with respect to real income is approximately 0.89, and real income has a greater impact on nuclear energy than do oil prices in the long run. Furthermore, the panel causality results find evidence of unidirectional causality running from oil prices and economic growth to nuclear energy consumption in the long run, while there is no causality between nuclear energy consumption and economic growth in the short run. - Research highlights: → We examine the relationship among nuclear energy consumption, oil prices, oil consumption, and economic growth for developed countries. → The existence of the substitution relationship between nuclear energy and oil. → Real income has a greater impact on nuclear energy than do oil prices in the long run. → An unidirectional causality running from oil prices and economic growth to nuclear energy consumption in the long run.

  8. The Impact of Energy Price Decline on China's Energy-Economy-Environment System Variables Using a CGE Model

    DEFF Research Database (Denmark)

    Guo, Zhengquan; Wang, Daojuan; Chen, Chong

    In recent years, prices of coal and crude oil have fallen significantly. These declines have had a large impact on China’s energy-economy-environment system variables. This paper establishes a computable general equilibrium model to systematically analyse the impact of coal price changes alone...... or the decline of both coal and oil prices on the variables of China's energy-economy-environment system. The results of the analysis show that the decline of the coal price alone or of coal and crude oil prices together will lead to a significant increase in demand for either coal and total energy or coal......, crude oil and total energy, including the related downstream energy products. Demand for natural gas, thermal power and clean power will decline. CO2 emissions and the carbon emission intensity per unit of GDP will remarkably increase, and the need for energy-saving and emissions-reduction will be even...

  9. The energy price in the European Union in 2010

    International Nuclear Information System (INIS)

    2011-01-01

    This document presents and briefly comments data and figures on the prices of natural gas and of electricity for industries and for households, of their evolution in comparison with what they were in 2009 in the different countries of the European Union. These prices are given with VAT included or not

  10. Regional variations in US residential sector fuel prices: implications for development of building energy performance standards

    Energy Technology Data Exchange (ETDEWEB)

    Nieves, L.A.; Tawil, J.J.; Secrest, T.J.

    1981-03-01

    The Notice of Proposed Rulemaking for Energy Performance Standards for New Buildings presented life-cycle-cost based energy budgets for single-family detached residences. These energy budgets varied with regional climatic conditions but were all based on projections of national average prices for gas, oil and electricity. The Notice of Proposed Rulemaking indicated that further analysis of the appropriateness of various price measures for use in setting the Standards was under way. This part of that ongoing analysis addresses the availability of fuel price projections, the variation in fuel prices and escalation rates across the US and the effects of aggregating city price data to the state, Region, or national level. The study only provides a portion of the information required to identify the best price aggregation level for developing of the standards. The research addresses some of the economic efficiency considerations necessary for design of a standard that affects heterogeneous regions. The first section discusses the effects of price variation among and within regions on the efficiency of resource allocation when a standard is imposed. Some evidence of the extreme variability in fuel prices across the US is presented. In the second section, time series, cross-sectional fuel price data are statistically analyzed to determine the similarity in mean fuel prices and price escalation rates when the data are treated at increasing levels of aggregation. The findings of this analysis are reported in the third section, while the appendices contain price distributions details. The last section reports the availability of price projections and discusses some EIA projections compared with actual prices.

  11. Easing the natural gas crisis: Reducing natural gas prices through increased deployment of renewable energy and energy efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Bolinger, Mark; St. Clair, Matt

    2004-12-21

    Heightened natural gas prices have emerged as a key energy-policy challenge for at least the early part of the 21st century. With the recent run-up in gas prices and the expected continuation of volatile and high prices in the near future, a growing number of voices are calling for increased diversification of energy supplies. Proponents of renewable energy and energy efficiency identify these clean energy sources as an important part of the solution. Increased deployment of renewable energy (RE) and energy efficiency (EE) can hedge natural gas price risk in more than one way, but this paper touches on just one potential benefit: displacement of gas-fired electricity generation, which reduces natural gas demand and thus puts downward pressure on gas prices. Many recent modeling studies of increased RE and EE deployment have demonstrated that this ''secondary'' effect of lowering natural gas prices could be significant; as a result, this effect is increasingly cited as justification for policies promoting RE and EE. This paper summarizes recent studies that have evaluated the gas-price-reduction effect of RE and EE deployment, analyzes the results of these studies in light of economic theory and other research, reviews the reasonableness of the effect as portrayed in modeling studies, and develops a simple tool that can be used to evaluate the impact of RE and EE on gas prices without relying on a complex national energy model. Key findings are summarized.

  12. Importance of Electricity Transport Pricing in Liberalised Energy Markets

    International Nuclear Information System (INIS)

    Wohlgemuth, N.

    2001-01-01

    Electricity has traditionally been supplied by vertically integrated companies providing generation, transmission and distribution services. Consumers have purchased a bundled commodity - delivered electricity - and there has been no need to price the components individually. This is no longer the case in competitive and unbundled electricity markets. One of the outstanding issues in the restructuring of the electricity markets is the way in which transmission costs are translated into tariffs. The efforts to create a single European electricity market are difficult to reconcile due to different national network pricing approaches. The European Commission's draft regulation on conditions for access to the network for cross-border exchanges of electricity sets general principles for the pricing of international electricity exchanges. Nodal pricing provides incentives for an efficient use of generation and transmission assets. Experience shows that nodal pricing is workable, and its use may be expected to increase progressively. Postage stamp pricing does not generally provide adequate incentives for efficiency. However, inefficiencies may be small under certain conditions, and postage stamp pricing has the advantage of being relatively transparent and easy to implement. This paper presents an overview of objectives related to an effective design of transmission pricing approaches, of transmission pricing models and presents recent developments in Europe in this respect. Due to the great number of institutional designs of electricity market organisations, it will be difficult to design and implement a model of cross-border transmission pricing that results in a high degree of non-discriminatory international competition in electricity markets, a key objective of the Electricity Directive.(author)

  13. Energy prices, development and the policy response in a small siege economy: Zimbabwe 1964-1981.

    OpenAIRE

    Suckling J

    1983-01-01

    ILO pub-WEP pub. Working paper on energy policy and economic policy responses to counter the economic implications of increasing petroleum prices in Zimbabwe 1964-1981 - discusses the power consumption impact on balance of payments, capital formation, gross domestic product, employment creation and income distribution; assesses export promotion and energy conservation (incl. Energy substitution, price control and rationing); stresses need for alternative energy sources (incl. Fuelwood, solar ...

  14. Price Relationships between EU CO2 Allowances and Energy and Commodity Prices

    OpenAIRE

    Nordby, Jill Francoise

    2011-01-01

    This thesis concentrates on relationships between EUA prices and the European and Scandinavian electricity markets, as well as oil and commodity prices. The main purpose of the paper is to explore what relationships exist between these both in the short and the long term. Are there any significant connections between the markets, and does one affect the other or vice versa, and do they move together in the long term? This type of exploration is interesting because of the nature of the EU E...

  15. The contribution of the DOE's R ampersand D budget in natural gas to energy price security

    International Nuclear Information System (INIS)

    Sutherland, R.J.

    1992-01-01

    The energy price volatility model suggests that some of the proposed natural gas programs can contribute to energy price stability. The sector most vulnerable to fuel price variations is, of course, the transportation sector. The most effective strategy to achieve energy pace stability is to reduce petroleum consumption in this sector. The natural gas vehicle program is therefore recommended as potentially important and worthy of further consideration. At this point, distinguishing the merits of various subprograms is not feasible. This result farther supports the conclusion that the DOE's energy R ampersand D portfolio is not efficiently balanced and an increase in oil and gas research should be a high priority. The DOE has responded favorably and has significantly increased its proposed research with the explicit objective of displacing oil in the transportation sector. The enhanced research and development program for energy security, in the NES, proposes major funding, increases in this area. To recommend the further increases proposed by the industry, a careful analysis of incremental benefits and costs is required. The proposed natural as supply program is intended to enhance the future supply of natural gas. As explained above, enhanced gas supplies can reduce the volatility of gas prices and severe the link between gas and oil prices. The gas supply program is recommended as a potentially important strategy to ensure energy price stability. The importance of this point merits restatement. Oil price volatility affects directly the transportation and industrial sectors. The residential, commercial and electric utility sectors are not highly oil dependent. However, oil prices have affected gas prices and gas is used extensively the residential, commercial, industrial and electric utility sectors. Energy price stability is enhanced in these sectors by severing, the link, between oil and gas prices

  16. Oxidatively stable polyaniline:polyacid electrodes for electrochemical energy storage.

    Science.gov (United States)

    Jeon, Ju-Won; Ma, Yuguang; Mike, Jared F; Shao, Lin; Balbuena, Perla B; Lutkenhaus, Jodie L

    2013-06-28

    Conjugated polymers, such as polyaniline, have been widely explored as sensors, electrodes, and conductive fillers. As an electrode material in electrochemical energy storage systems, polyaniline can be subject to irreversible oxidation that reduces cycle life and electrode capacity, thus, limiting its widespread application. Here we present a simple route to produce and prepare polyaniline-based electrodes that are oxidatively stable up to 4.5 V vs. Li/Li(+). The route uses a polyacid to stabilize the fully oxidized pernigraniline salt form of polyaniline, which is normally highly unstable as a homopolymer. The result is an organic electrode of exceptionally high capacity, energy density, power density, and cycle life. We demonstrate that the polyaniline:polyacid electrode stores 230 mA h g(-1) of polyaniline for over 800 cycles, far surpassing homopolymer polyaniline under equivalent conditions. This approach provides a highly stable, electrochemically reversible replacement for conventional polyaniline.

  17. Micro-energy markets: The role of a consumer preference pricing strategy on microgrid energy investment

    International Nuclear Information System (INIS)

    Faber, Isaac; Lane, William; Pak, Wayne; Prakel, Mary; Rocha, Cheyne; Farr, John V.

    2014-01-01

    The fragility of the modern electrical grid is exposed during random events such as storms, sporting events and often simply routine operation. Even with these obvious flaws large utilities and governments have been slow to create robust solutions due to the need of large capital investments required to address the issues. In this light creative economic and engineering solutions are desired to finance the needed upgrades. Driven by the requirement to have uninterrupted power that meets customers desires this research focuses on linking consumer preferences to a type of energy source in order to best fulfill stakeholder priorities. This approach is in contrast to the current and prevalent lowest cost methods to producing and consuming energy. This research yields a preliminary ‘micro-energy market’ that consists of an energy network architecture, pricing methodology and mathematical template which quantifies potential economic inefficiencies. If exploited these inefficiencies could be used to fund investment into various energy sources that provide unmet needs such as reduced carbon footprint, renewable, quality, and local production. These inefficiencies can be best exploited within the structure of a microgrid. Identification of opportunities on this smaller scale can provide an incentive for producers to develop a robust set of production facilities of varying size and characteristics to meet the consumer preferences. A stochastic optimization model of a microgrid implementation for a small military installation is used to evaluate the effects of this pricing methodology. The energy production of the resulting microgrid would be optimized to meet consumer preferences and minimize economic inefficiency. - Highlights: • This research focuses on linking consumer preferences to a type of energy source. • Pricing methodology quantifies strategic investments in alternative sources. • Inefficiencies could be used to fund investment into various energy sources

  18. Construction of energy-stable Galerkin reduced order models.

    Energy Technology Data Exchange (ETDEWEB)

    Kalashnikova, Irina; Barone, Matthew Franklin; Arunajatesan, Srinivasan; van Bloemen Waanders, Bart Gustaaf

    2013-05-01

    This report aims to unify several approaches for building stable projection-based reduced order models (ROMs). Attention is focused on linear time-invariant (LTI) systems. The model reduction procedure consists of two steps: the computation of a reduced basis, and the projection of the governing partial differential equations (PDEs) onto this reduced basis. Two kinds of reduced bases are considered: the proper orthogonal decomposition (POD) basis and the balanced truncation basis. The projection step of the model reduction can be done in two ways: via continuous projection or via discrete projection. First, an approach for building energy-stable Galerkin ROMs for linear hyperbolic or incompletely parabolic systems of PDEs using continuous projection is proposed. The idea is to apply to the set of PDEs a transformation induced by the Lyapunov function for the system, and to build the ROM in the transformed variables. The resulting ROM will be energy-stable for any choice of reduced basis. It is shown that, for many PDE systems, the desired transformation is induced by a special weighted L2 inner product, termed the %E2%80%9Csymmetry inner product%E2%80%9D. Attention is then turned to building energy-stable ROMs via discrete projection. A discrete counterpart of the continuous symmetry inner product, a weighted L2 inner product termed the %E2%80%9CLyapunov inner product%E2%80%9D, is derived. The weighting matrix that defines the Lyapunov inner product can be computed in a black-box fashion for a stable LTI system arising from the discretization of a system of PDEs in space. It is shown that a ROM constructed via discrete projection using the Lyapunov inner product will be energy-stable for any choice of reduced basis. Connections between the Lyapunov inner product and the inner product induced by the balanced truncation algorithm are made. Comparisons are also made between the symmetry inner product and the Lyapunov inner product. The performance of ROMs constructed

  19. Affordable, stable and assured supply of energy for poverty alleviation in Pakistan

    International Nuclear Information System (INIS)

    Alam, S.

    2011-01-01

    For people living in poverty, the most pressing priority is the satisfaction of basic human needs, which includes access to food, shelter, water supply and sanitation and other services that will improve their standard of living, such as health care, education, and better transport. Problems of poverty in all its dimensions can be addressed with the improved provision of energy services and it is significant that most of those without having access to modern energy services live in developing countries; like Pakistan and belong to the segment of the human population that lives in poverty. While assured and adequate energy supplies do not guarantee economic growth and employment generation, their absence typically limits growth. Although low energy consumption is not a cause of poverty, the lack of available energy services correlates closely with many poverty indicators. The link between poverty and energy should not, however, be construed simply in terms of ability of the poor to afford better energy services. Energy services constitute a sizeable share of total household expenditure in Pakistan. People living in poverty often pay a higher price per unit of energy services than do the rich. They also spend more time in obtaining these energy services and rely on resource-scarce and polluting ways of converting energy for services like cooking, drinking water, heating and lighting, all of which have associated health impacts. The production and use of energy have environmental consequences at local, regional and global levels. These impacts extend throughout the fuel cycle of an Energy Chain. Energy plays a substantial role in the everyday lives of humans. Poverty describes a condition of people who are denied the opportunities for sustainable existence. for social uplift of the people of Pakistan at large through affordable, stable, and assured supply of energy keeping in view the environmental constraints. (author)

  20. The long-run forecasting of energy prices using the model of shifting trend

    International Nuclear Information System (INIS)

    Radchenko, Stanislav

    2005-01-01

    Developing models for accurate long-term energy price forecasting is an important problem because these forecasts should be useful in determining both supply and demand of energy. On the supply side, long-term forecasts determine investment decisions of energy-related companies. On the demand side, investments in physical capital and durable goods depend on price forecasts of a particular energy type. Forecasting long-run rend movements in energy prices is very important on the macroeconomic level for several developing countries because energy prices have large impacts on their real output, the balance of payments, fiscal policy, etc. Pindyck (1999) argues that the dynamics of real energy prices is mean-reverting to trend lines with slopes and levels that are shifting unpredictably over time. The hypothesis of shifting long-term trend lines was statistically tested by Benard et al. (2004). The authors find statistically significant instabilities for coal and natural gas prices. I continue the research of energy prices in the framework of continuously shifting levels and slopes of trend lines started by Pindyck (1999). The examined model offers both parsimonious approach and perspective on the developments in energy markets. Using the model of depletable resource production, Pindyck (1999) argued that the forecast of energy prices in the model is based on the long-run total marginal cost. Because the model of a shifting trend is based on the competitive behavior, one may examine deviations of oil producers from the competitive behavior by studying the difference between actual prices and long-term forecasts. To construct the long-run forecasts (10-year-ahead and 15-year-ahead) of energy prices, I modify the univariate shifting trends model of Pindyck (1999). I relax some assumptions on model parameters, the assumption of white noise error term, and propose a new Bayesian approach utilizing a Gibbs sampling algorithm to estimate the model with autocorrelation. To

  1. State energy price projections for the residential sector, 1992--1993

    International Nuclear Information System (INIS)

    1992-01-01

    The purpose of this report, State Energy Price Projections for the Residential Sector, 1992--1993, is to provide projections of State-level residential prices for 1992 and 1993 for the following fuels: electricity, natural gas, heating oil, liquefied petroleum gas (LPG), kerosene, and coal. Prices for 1991 are also included for comparison purposes. This report also explains the methodology used to produce these estimates and the limitations

  2. Regulatory restrictions and energy: The impact of the Jones Act on spot gasoline prices

    International Nuclear Information System (INIS)

    Gius, Mark

    2013-01-01

    The purpose of the present study is to estimate the effects of the Jones Act on spot gasoline prices. Although the Jones Act pertains to the domestic shipment of all types of goods, the present study will only focus on gasoline. The present study will use data obtained from the Energy Information Administration in order to determine if the price of gasoline declined during Jones Act waiver periods. Looking at daily prices, the results regarding the effects of the Jones Act on spot gasoline prices are mixed. When using a t-test, the results indicated either that there was no significant difference or that prices were actually higher during the waiver periods. When using a first-order autoregressive model, it was found that prices were lower during the 2005 waiver period but higher during the 2012 waiver. Given these inconclusive results, it is not possible to conclude that the Jones Act restrictions contribute to higher gasoline prices. - Highlights: • I examine the effect of the Jones Act on spot gasoline prices. • I use daily price data over a seven year period. • I find that the results are mixed. • For the Hurricane Katrina waiver, prices fell, but for the Hurricane Sandy waiver, prices rose

  3. The geopolitical impact of the shale revolution: Exploring consequences on energy prices and rentier states

    International Nuclear Information System (INIS)

    Auping, Willem L.; Pruyt, Erik; Jong, Sijbren de; Kwakkel, Jan H.

    2016-01-01

    While the shale revolution was largely a US’ affair, it affects the global energy system. In this paper, we look at the effects of this spectacular increase in natural gas, and oil, extraction capacity can have on the mix of primary energy sources, on energy prices, and through that on internal political stability of rentier states. We use two exploratory simulation models to investigate the consequences of the combination of both complexity and uncertainty in relation to the global energy system and state stability. Our simulations show that shale developments could be seen as part of a long term hog-cycle, with a short term drop in oil prices if unconventional supply substitutes demand for oil. These lower oil prices may lead to instability in rentier states neighbouring the EU, especially when dependence on oil and gas income is high, youth bulges are present, or buffers like sovereign wealth funds are too limited to bridge the negative economic effects of temporary low oil prices. - Highlights: • We quantitatively explore geopolitical consequences of the shale gas revolution. • We use a multi-model approach to generate and use energy price scenarios. • Simulations show that current low oil prices could be part of a hog cycle. • The shale gas boom was an early warning for the drop in oil prices. • Low prices due to shale gas can reduce internal stability in rentier states.

  4. Managing Interactions Between Carbon Pricing and Existing Energy Policies. Guidance for Policymakers

    Energy Technology Data Exchange (ETDEWEB)

    Hood, Christina

    2013-07-01

    Carbon pricing can be a key policy tool to help countries move their energy sectors onto a cleaner development path. One important issue to consider when introducing carbon pricing is how it will integrate with other energy policies that also reduce greenhouse gas emissions, including policies to support low-carbon technologies (such as renewable energy) and energy efficiency programmes. Poor policy integration can undermine energy security and affordability, and affect the performance of renewable energy policies and energy markets. Climate objectives can also be undermined, through low and uncertain carbon prices and the risk of stop-start policy. Understanding how to manage policy interactions can improve the climate and energy policy package, reducing the trade-offs and advancing the synergies between energy and climate objectives. This will benefit the country in terms of a more effective and lower-cost low-carbon development path, as well as supporting a more energy-secure future.

  5. Optimal Energy Management for the Integrated Power and Gas Systems via Real-time Pricing

    DEFF Research Database (Denmark)

    Shu, KangAn; Ai, Xiaomeng; Wen, Jinyu

    2018-01-01

    This work proposed a bi-level formulation for energy management in the integrated power and natural gas system via real-time price signals. The upper-level problem minimizes the operational cost, in which dynamic electricity price and dynamic gas tariff are proposed. The lower level problem...

  6. Industry energy-price-impact model: the case of the hotel industry

    Energy Technology Data Exchange (ETDEWEB)

    Arbel, A. (Cornell Univ., New York, NY); Ravid, S.A.

    1983-12-01

    The study develops a simple general model for evaluating the effect of energy costs upon industry's prices and output and conducts an empirical investigation using hotel-industry data because of its comparatively high energy component and its high price elasticity of demand. It is concluded that, while consumers may have reduced travel, they did not reduce demand for lodging facilities. A small negative energy-price impact on the supply side is more than offset by the positive impact on the demand side. 28 references, 9 tables.

  7. Energy performance ratings and house prices in Wales: An empirical study

    International Nuclear Information System (INIS)

    Fuerst, Franz; McAllister, Pat; Nanda, Anupam; Wyatt, Pete

    2016-01-01

    This paper investigates the effect of Energy Performance Certificate (EPC) ratings on residential prices in Wales. Drawing on a sample of approximately 192,000 transactions, the capitalisation of energy efficiency ratings into house prices is investigated using two approaches. The first adopts a cross-sectional framework to investigate the effect of EPC rating on price. The second approach applies a repeat-sales methodology to investigate the impact of EPC rating on house price appreciation. Statistically significant positive price premiums are estimated for dwellings in EPC bands A/B (12.8%) and C (3.5%) compared to houses in band D. For dwellings in band E (−3.6%) and F (−6.5%) there are statistically significant discounts. Such effects may not be the result of energy performance alone. In addition to energy cost differences, the price effect may be due to additional benefits of energy efficient features. An analysis of the private rental segment reveals that, in contrast to the general market, low-EPC rated dwellings were not traded at a significant discount. This suggests different implicit prices of potential energy savings for landlords and owner-occupiers.

  8. Energy demand and mix for global welfare and stable ecosystems

    Energy Technology Data Exchange (ETDEWEB)

    Jess, A.; Kern, C.; Kaiser, P.

    2012-07-01

    Social indicators show that an annual energy consumption of 2 tonnes of oil equivalent per capita (toe pc) should be enough to ensure a sufficient global average level of welfare and happiness. Hence, rich countries with currently up to 8 toe pc should reduce and poor should legitimately increase their energy demand until 2 toe pc are reached. At today's global energy mix with 80% fossil fuels, even this optimistic scenario will inevitably lead to a conflict between welfare and stable ecosystems. The population will be 9 billion by 2050 and the ecological footprint would rise from today 1.5 to 2 planet Earths. The only option to reach the desired footprint of one planet Earth is a complete shift from fossil fuels to renewables. (orig.)

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2012-06-15

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

  10. The energy price equivalence of carbon taxes and emissions trading—Theory and evidence

    International Nuclear Information System (INIS)

    Chiu, Fan-Ping; Kuo, Hsiao-I.; Chen, Chi-Chung; Hsu, Chia-Sheng

    2015-01-01

    Highlights: • The price equivalence of carbon taxes and emissions trading from theoretical and empirical models are developed. • The theoretical findings show that the price effects of these two schemes depend on the market structures. • Energy prices under a carbon tax is lower than an issions trading in an imperfectly competitive market. • A case study from Taiwan gasoline market is applied here. - Abstract: The main purpose of this study is to estimate the energy price equivalence of carbon taxes and emissions trading in an energy market. To this end, both the carbon tax and emissions trading systems are designed in the theoretical model, while alternative market structures are taken into consideration. The theoretical findings show that the economic effects of these two schemes on energy prices depend on the market structures. Energy prices are equivalent between these two schemes given the same amount of greenhouse gas emissions (GHGE) reduction when the market structure is characterized by perfect competition. However, energy prices will be lower when a carbon tax is introduced than when emissions trading is implemented in an imperfectly competitive market, which implies that the price effects of a carbon tax and emissions trading depend on the energy market structure. Such a theoretical basis is applied to the market for gasoline in Taiwan. The empirical results indicate that the gasoline prices under a carbon tax are lower than under emissions trading. This implies that the structure of the energy market needs to be examined when a country seeks to reduce its GHGE through the implementation of either a carbon tax or emissions trading.

  11. Relationships among energy price shocks, stock market, and the macroeconomy: evidence from China.

    Science.gov (United States)

    Cong, Rong-Gang; Shen, Shaochuan

    2013-01-01

    This paper investigates the interactive relationships among China energy price shocks, stock market, and the macroeconomy using multivariate vector autoregression. The results indicate that there is a long cointegration among them. A 1% rise in the energy price index can depress the stock market index by 0.54% and the industrial value-adding growth by 0.037%. Energy price shocks also cause inflation and have a 5-month lag effect on stock market, which may result in the stock market "underreacting." The energy price can explain stock market fluctuations better than the interest rate over a longer time period. Consequently, investors should pay greater attention to the long-term effect of energy on the stock market.

  12. Energy Prices, Tariffs, Taxes and Subsidies in Ukraine

    Energy Technology Data Exchange (ETDEWEB)

    Evans, Meredydd

    2007-04-01

    For many years, electricity, gas and district heating tariffs for residential consumers were very low in Ukraine; until recently, they were even lower than in neighbouring countries such as Russia. The increases in gas and electricity tariffs, implemented in 2006, are an important step toward sustainable pricing levels; however, electricity and natural gas (especially for households) are still priced below the long-run marginal cost. The problem seems even more serious in district heating and nuclear power. According to the Ministry of Construction, district heating tariffs, on average, cover about 80% of costs. Current electricity prices do not fully include the capital costs of power stations, which are particularly high for nuclear power. Although the tariff for nuclear electricity generation includes a small decommissioning charge, it has not been sufficient to accumulate necessary funds for nuclear plants decommissioning.

  13. The Optimal Price Ratio of Typical Energy Sources in Beijing Based on the Computable General Equilibrium Model

    Directory of Open Access Journals (Sweden)

    Yongxiu He

    2014-04-01

    Full Text Available In Beijing, China, the rational consumption of energy is affected by the insufficient linkage mechanism of the energy pricing system, the unreasonable price ratio and other issues. This paper combines the characteristics of Beijing’s energy market, putting forward the society-economy equilibrium indicator R maximization taking into consideration the mitigation cost to determine a reasonable price ratio range. Based on the computable general equilibrium (CGE model, and dividing four kinds of energy sources into three groups, the impact of price fluctuations of electricity and natural gas on the Gross Domestic Product (GDP, Consumer Price Index (CPI, energy consumption and CO2 and SO2 emissions can be simulated for various scenarios. On this basis, the integrated effects of electricity and natural gas price shocks on the Beijing economy and environment can be calculated. The results show that relative to the coal prices, the electricity and natural gas prices in Beijing are currently below reasonable levels; the solution to these unreasonable energy price ratios should begin by improving the energy pricing mechanism, through means such as the establishment of a sound dynamic adjustment mechanism between regulated prices and market prices. This provides a new idea for exploring the rationality of energy price ratios in imperfect competitive energy markets.

  14. Mechanically stable ternary heterogeneous electrodes for energy storage and conversion.

    Science.gov (United States)

    Gao, Libo; Zhang, Hongti; Surjadi, James Utama; Li, Peifeng; Han, Ying; Sun, Dong; Lu, Yang

    2018-02-01

    Recently, solid asymmetric supercapacitor (ASC) has been deemed as an emerging portable power storage or backup device for harvesting natural resources. Here we rationally engineered a hierarchical, mechanically stable heterostructured FeCo@NiCo layered double hydroxide (LDH) with superior capacitive performance by a simple two-step electrodeposition route for energy storage and conversion. In situ scanning electron microscope (SEM) nanoindentation and electrochemical tests demonstrated the mechanical robustness and good conductivity of FeCo-LDH. This serves as a reliable backbone for supporting the NiCo-LDH nanosheets. When employed as the positive electrode in the solid ASC, the assembly presents high energy density of 36.6 W h kg -1 at a corresponding power density of 783 W kg -1 and durable cycling stability (87.3% after 5000 cycles) as well as robust mechanical stability without obvious capacitance fading when subjected to bending deformation. To demonstrate its promising capability for practical energy storage applications, the ASC has been employed as a portable energy source to power a commercially available digital watch, mini motor car, or household lamp bulb as well as an energy storage reservoir, coupled with a wind energy harvester to power patterned light-emitting diodes (LEDs).

  15. Stable Superstring Relics and Ultrahigh Energy Cosmic Rays

    CERN Document Server

    Coriano, Claudio; Plumacher, Michael; Coriano, Claudio; Faraggi, Alon E.; Plumacher, Michael

    2001-01-01

    One of the most intriguing experimental results of recent years is the observation of Ultrahigh Energy Cosmic Rays (UHECRs) above the GZK cutoff. Plausible candidates for the UHECR primaries are the decay products of a meta--stable matter state with mass of order O(10^{12-15 GeV}), which simultaneously is a good cold dark matter candidate. We study possible meta-stable matter states that arise from Wilson line breaking of GUT symmetries in semi-realistic heterotic string models. In the models that we study the exotic matter states can be classified according to patterns of SO(10) symmetry breaking. We show that cryptons, which are states that carry fractional electric charge $\\pm1/2$, and are confined by a hidden gauge group cannot produce viable dark matter. This is due to the fact that, in addition to the lightest neutral bound state, cryptons give rise to meta-stable charged bound states. However, these states may still account for the UHECR events. We argue that the uniton, which is an exotic Standard Mod...

  16. Effect of Energy Price Liberalization on Corn self-sufficiency in Iran

    Directory of Open Access Journals (Sweden)

    mohammadreza pakravan

    2015-05-01

    Full Text Available liberalization of energy price increases costs of agricultural inputs and costs of agricultural production. All these changes may affect the overall competitiveness of domestic products with similar foreign products. As a result of that, total cost of agricultural products are increased and profitability are decreased. In this paper, energy consumption for producing Corn were calculated using cost- production database from Jahad-Keshavarzi for the years 2001-2010. Then, the cost function, production function and demand function for this crop were estimated in the form of panel data structure. Furthermore, the import function of corn and the associated elasticity were calculated using time series data for the years 1981-2000. The results show that, for the corn production, the elasticity of energy input and price elasticity of energy demand are 2.47 and -0.005, respectively. Considering to the fact that the production elasticity in the import function is -0/83, every one percent increase in the price of fuel due to the energy price liberalization policy increases the import of corn by 0/01 percent. Accordingly, increasing energy price has a negative effect on the food self-sufficiency that is one of the main objectives of the fifth national development plan. Ultimately, it is proposed that policy makers provide corn producers with more supports in order to reduce the negative effect of energy price liberalization on the national corn products.

  17. Correlations between energy economy and housing market prices in the EU-impacts on future sustainability

    Directory of Open Access Journals (Sweden)

    Maassen Maria Alexandra

    2017-07-01

    Full Text Available The global economic system is facing multiple challenges in terms of social development, technology and innovation, as well as sustainability needs. As a result, the value of existing assets is changing globally depending on the scarcity, necessity and effects on the business field leading to increased prices of traditional sources of energy and increased competition in the economic field. Thus, the EU energy market has progressed in reducing its dependence on external energy sourcing, by increasing production of renewable energy, such as wind or solar, as well as by further integration of the electric grid. Based on the Pearson coefficient this article intends to research the correlations between the economic, energy and house prices in recent years and the future possible impacts depending on their evolution. For example, gas prices in the past decade increasing household costs in most countries due to the dependence on third parties for energy, lead to the need of increasing the share of renewable energy in total energy consumption, which have consequently decreased electricity prices since 2008. However, this development has still not solved the additional costs issue of households due to the new technologies implemented although wind and solar energy receive in general low margins. Such energy issues, as well as the increased housing prices after the financial crisis in 2008 have caused on their own an additional burden on the economy and households spending income in the next years following.

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

    International Nuclear Information System (INIS)

    Ma, Hengyun; Oxley, Les; Gibson, John

    2009-01-01

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

  19. Energy Trading and Pricing in Microgrids with Uncertain Energy Supply: A Three-Stage Hierarchical Game Approach

    Directory of Open Access Journals (Sweden)

    Kai Ma

    2017-05-01

    Full Text Available This paper studies an energy trading and pricing problem for microgrids with uncertain energy supply. The energy provider with the renewable energy (RE generation (wind power determines the energy purchase from the electricity markets and the pricing strategy for consumers to maximize its profit, and then the consumers determine their energy demands to maximize their payoffs. The hierarchical game is established between the energy provider and the consumers. The energy provider is the leader and the consumers are the followers in the hierarchical game. We consider two types of consumers according to their response to the price, i.e., the price-taking consumers and the price-anticipating consumers. We derive the equilibrium point of the hierarchical game through the backward induction method. Comparing the two types of consumers, we study the influence of the types of consumers on the equilibrium point. In particular, the uncertainty of the energy supply from the energy provider is considered. Simulation results show that the energy provider can obtain more profit using the proposed decision-making scheme.

  20. A New Pricing Scheme for Controlling Energy Storage Devices in Future Smart Grid

    Directory of Open Access Journals (Sweden)

    Jingwei Zhu

    2014-01-01

    Full Text Available Improvement of the overall efficiency of energy infrastructure is one of the main anticipated benefits of the deployment of smart grid technology. Advancement in energy storage technology and two-way communication in the electric network are indispensable components to achieve such a vision, while efficient pricing schemes and appropriate storage management are also essential. In this paper, we propose a universal pricing scheme which permits one to indirectly control the energy storage devices in the grid to achieve a more desirable aggregate demand profile that meets a particular target of the grid operator such as energy generation cost minimization and carbon emission reduction. Such a pricing scheme can potentially be applied to control the behavior of energy storage devices installed for integration of intermittent renewable energy sources that have permission to grid connection and will have broader applications as an increasing number of novel and low-cost energy storage technologies emerge.

  1. Effects of Rising Relative Energy Prices on Soil Erosion and Its Control

    OpenAIRE

    Lee D. Zinser; John A. Miranowski; James S. Shortle; Michael J. Monson

    1985-01-01

    Efforts to develop public programs to control soil erosion should not ignore other economic trends which may affect soil erosion. This programming analysis considers the impact of rising relative energy prices on cropland erosion in conjunction with alternative erosion control policies. Higher relative energy prices are found to reduce soil erosion significantly, complement soil loss restriction policies, and have an ambiguous impact on subsidies for soil erosion abatement.

  2. Non-fiscal price incentives. The energy-efficiency impact of differentiated energy prices; Niet-fiscale prijsprikkels. Onderzoek naar het besparingseffect van gedifferentieerde energieprijzen

    Energy Technology Data Exchange (ETDEWEB)

    Leguijt, C.; Blom, M.B.J.; Schepers, B.L.; Warringa, G.E.A.

    2012-02-15

    An exploratory study has been carried out on the potential impact of non-fiscal energy incentives. The study will feed into the Dutch government policies on energy efficiency in the built environment. The study takes in both electricity and gas, and private dwellings as well as utility buildings. The following non-fiscal price incentives were considered: (1) consumer prices indexed to consumption volume; (2) consumer prices indexed to time of consumption; (3) the energy-efficiency impact of 'autonomous' increases in energy prices. The energy-efficiency effects of price changes (options 1 and 3) were calculated on the basis of price elasticities, while for option 2 use was made of the results of the Social Cost-Benefit Analysis of Smart Grids carried out by CE Delft in collaboration with KEMA. The conclusions of the study are as follows: (a) Although differentiating consumer prices by consumption volume may yield energy savings of up to 2%, this would require market agreements in breach of the competition rules underpinning the liberalised energy market. This option is therefore unfeasible via consumer prices; (b) The energy savings accruing from indexing consumer prices to time of consumption are uncertain, as the main impact will be a temporal shift in consumption. This option is highly feasible, as such differentiation will in all likelihood evolve of its own accord with the roll-out of smart meters and smart grids; (c) The energy-efficiency impact of autonomous energy price rises is 0.2 to 0.4% per annum [Dutch] CE Delft heeft in opdracht van het Ministerie van Binnenlandse Zaken en Koninkrijkrelaties (BZK) een verkenning uitgevoerd naar de mogelijkheden voor niet-fiscale energieprijsprikkels. De studie maakt onderdeel uit van het plan van aanpak energiebesparing gebouwde omgeving van BZK. De verkenning betreft zowel elektriciteit als gas, en zowel huishoudens als utiliteitbouw. De niet-fiscale prijsprikkels die zijn verkend betreffen: (1

  3. Potential of building-scale alternative energy to alleviate risk from the future price of energy

    International Nuclear Information System (INIS)

    Bristow, David; Kennedy, Christopher A.

    2010-01-01

    The energy used for building operations, the associated greenhouse gas emissions, and the uncertainties in future price of natural gas and electricity can be a cause of concern for building owners and policy makers. In this work we explore the potential of building-scale alternative energy technologies to reduce demand and emissions while also shielding building owners from the risks associated with fluctuations in the price of natural gas and grid electricity. We analyze the monetary costs and benefits over the life cycle of five technologies (photovoltaic and wind electricity generation, solar air and water heating, and ground source heat pumps) over three audience or building types (homeowners, small businesses, large commercial and institutional entities). The analysis includes a Monte Carlo analysis to measure risk that can be compared to other investment opportunities. The results indicate that under government incentives and climate of Toronto, Canada, the returns are relatively high for small degrees of risks for a number of technologies. Ground source heat pumps prove to be exceptionally good investments in terms of their energy savings, emission, reductions, and economics, while the bigger buildings tend also to be better economic choices for the use of these technologies.

  4. Water: The Only Factor Influencing the Price of Energy in the Spot Market?

    Directory of Open Access Journals (Sweden)

    Vinicius Mothé Maia

    2016-04-01

    Full Text Available The Brazilian electric energy generation system is based on its hydroelectric power plants, making the country dependent on proper rainfall and, thus, raising the possibility of energy stress situations, such as the energy-rationing scenario observed in the beginning of the century and the latest water crisis (2014. Moments of water scarcity are followed by an increase in energy prices, which affects the economy as whole. Therefore, it is relevant to understand which factors in the Brazilian Electric System affect the energy price and the individual importance of each. This paper aimed to analyze which the key variables influencing the energy price in the spot market are by using official data from the National Electric System Operator. The used data was from the period July/2001 to July/2014, which was employed in a multiple regression methodology along with time series. The results suggest an inverse relationship between the natural flow of rivers (directly related to rainfall and the energy price. Moreover, they also point to an inverse relationship between the potential energy stored in reservoirs as water and the energy price.

  5. Sustaining high-energy orbits of bi-stable energy harvesters by attractor selection

    Science.gov (United States)

    Udani, Janav P.; Arrieta, Andres F.

    2017-11-01

    Nonlinear energy harvesters have the potential to efficiently convert energy over a wide frequency range; however, difficulties in attaining and sustaining high-energy oscillations restrict their applicability in practical scenarios. In this letter, we propose an actuation methodology to switch the state of bi-stable harvesters from the low-energy intra-well configuration to the coexisting high-energy inter-well configuration by controlled phase shift perturbations. The strategy is designed to introduce a change in the system state without creating distinct metastable attractors by exploiting the basins of attraction of the coexisting stable attractors. Experimental results indicate that the proposed switching strategy yields a significant improvement in energy transduction capabilities, is highly economical, enabling the rapid recovery of energy spent in the disturbance, and can be practically implemented with widely used low-strain piezoelectric transducers.

  6. Machine learning for identifying demand patterns of home energy management systems with dynamic electricity pricing

    NARCIS (Netherlands)

    Koolen, D. (Derck); Sadat-Razavi, N. (Navid); W. Ketter (Wolfgang)

    2017-01-01

    textabstractEnergy management plays a crucial role in providing necessary system flexibility to deal with the ongoing integration of volatile and intermittent energy sources. Demand Response (DR) programs enhance demand flexibility by communicating energy market price volatility to the end-consumer.

  7. Energy efficiency in the manufacturing sector of the OECD: Analysis of price elasticities

    International Nuclear Information System (INIS)

    Parker, Steven; Liddle, Brantley

    2016-01-01

    We examine the role prices have on energy efficiency in the OECD manufacturing sector between 1980 and 2009. We employ a two-step procedure; first, we decompose manufacturing energy intensity change into two driving effects—efficiency and structural change. The second step uses panel time series regression techniques to estimate the impacts of prices on the effects driving manufacturing energy intensity. The advantage of using these techniques is that they account for heterogeneity and cross-section dependence in the data, something recent energy intensity research has emphasised. The results from this decomposition support existing findings that efficiency is the major driver for observed reduction in energy intensity. Further, the second stage results indicate that rising prices improve efficiency; importantly these effects vary across countries. - Highlights: • We examine the role prices have on energy efficiency in the OECD manufacturing sector between 1980 and 2009. • We decompose manufacturing energy intensity change into two driving effects—technological efficiency and structural change. • Index number decomposition support existing findings that the technological efficiency effect is the major driver for observed reduction in energy intensity since 1980. • Further, the second stage results indicate that rising prices improves efficiency; importantly, these effects vary across countries.

  8. Impact of International Oil Price on Energy Conservation and Emission Reduction in China

    Directory of Open Access Journals (Sweden)

    Jian Chai

    2016-05-01

    Full Text Available In the context of “new normal” economy and frequent “haze”, the strategy of energy conservation and emission reduction aiming to lower costs and reduce pollution is currently still a major strategic direction in China and the world, and will remain so for some time in the future. This paper uses the annual data of West Texas Intermediate (WTI crude oil price in 1987–2014 as samples. We firstly present the direction and mechanism of the influence of oil price change on total consumption of every kind of energy by path analysis, and then consider establishing a Structural Vector Autoregression model of energy conservation and emission reduction in three statuses. Research shows that if the international oil price increases by 1%, the energy consumption per GDP and carbon dioxide emission increase by 0.092% and 0.053% respectively in the corresponding period. In the status of high energy consumption and high emission, if the international oil price increases by 1%, the energy consumption per GDP and carbon dioxide emission increase by 0.043% and 0.065% respectively in the corresponding period. In the status of low energy consumption and low emission, if the international oil price increases by 1%, the energy consumption per GDP per unit increases by 0.067% and carbon dioxide emission decreases by 0.085% in the corresponding period.

  9. Assessment and Decomposition of Total Factor Energy Efficiency: An Evidence Based on Energy Shadow Price in China

    OpenAIRE

    Peihao Lai; Minzhe Du; Bing Wang; Ziyue Chen

    2016-01-01

    By adopting an energy-input based directional distance function, we calculated the shadow price of four types of energy (i.e., coal, oil, gas and electricity) among 30 areas in China from 1998 to 2012. Moreover, a macro-energy efficiency index in China was estimated and divided into intra-provincial technical efficiency, allocation efficiency of energy input structure and inter-provincial energy allocation efficiency. It shows that total energy efficiency has decreased in recent years, where ...

  10. An energy pricing scheme for the diffusion of decentralized renewable technology investment in developing countries

    International Nuclear Information System (INIS)

    Thiam, Djiby Racine

    2011-01-01

    The purpose of this paper is to investigate price support for market penetration of renewable energy in developing nations through a decentralized supply process. We integrate the new decentralized energy support: renewable premium tariff, to analyze impacts of tariff incentives on the diffusion of renewable technology in Senegal. Based on photovoltaic and wind technologies and an assessment of renewable energy resources in Senegal, an optimization technique is combined with a cash flow analysis to investigate investment decisions in renewable energy sector. Our findings indicate that this support mechanism could strengthen the sustainable deployment of renewable energy in remote areas of Senegal. Although different payoffs emerged, profits associated with a renewable premium tariff are the highest among the set of existing payoffs. Moreover in analyzing impacts of price incentives on social welfare, we show that price tariffing schemes must be strategically scrutinized in order to minimize welfare loss associated with price incentives. Finally we argue that a sustainable promotion of incentive mechanisms supporting deployment of renewable technology in developing nations should be carried out under reliable institutional structures. The additional advantage of the proposed methodology is its ability to integrate different stakeholders (producers, investors and consumers) in the planning process. - Highlights: → We simulate impacts of price support for market penetration of renewable technology in developing nations. → An array of price incentive mechanisms strengthens diffusion of renewable technology in Senegal. → Moreover, reliable institutional frameworks in developing nations are a requirement in order to strengthen diffusion path of renewable technologies.

  11. State Approaches to Demand Reduction Induced Price Effects: Examining How Energy Efficiency Can Lower Prices for All

    Energy Technology Data Exchange (ETDEWEB)

    Taylor, Colin [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Hedman, Bruce [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Goldberg, Amelie [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2015-12-01

    Effects (DRIPE) as a real, quantifiable benefit of energy efficiency and demand response programs. DRIPE is a measurement of the value of demand reductions in terms of the decrease in wholesale energy prices, resulting in lower total expenditures on electricity or natural gas across a given grid. Crucially for policymakers and consumer advocates, DRIPE savings accrue not only to the subset of customers who consume less, but to all consumers. Rate-paying customers realize DRIPE savings when price reductions across an electricity or natural gas system are passed on to all retail customers as lower rates (depending upon regulation and market structure, residual savings may be wholly or partially retained by utilities). DRIPE savings, though seemingly small in terms of percent price reductions or dollars per household, can amount to hundreds of millions of dollars per year across entire states or grids. Therefore, accurately assessing DRIPE benefits can help to ensure appropriate programs are designed and implemented for energy efficiency measures. This paper reviews the existing knowledge and experience from select U.S. states regarding DRIPE (including New York and Ohio), and the potential for expanded application of the concept of DRIPE by regulators. Policymakers and public utility commissions have a critical role to play in setting the methodology for determining DRIPE, encouraging its capture by utilities, and allocating DRIPE benefits among utilities, various groups of customers, and/or society at large. While the methodologies for estimating DRIPE benefits are still being perfected, policymakers can follow the examples of states such as Maryland and Vermont in including conservative DRIPE estimates in their resource planning.

  12. The Impact of Energy Prices on Employment and Environmental Performance: Evidence from French Manufacturing Establishments

    International Nuclear Information System (INIS)

    Marin, Giovanni; Vona, Francesco

    2017-01-01

    This paper evaluates the historical influence of energy prices on a series of measures of environmental and economic performance for a panel of French manufacturing establishments over the period 1997-2010. The focus on energy prices is motivated by the fact that changes in environmental and energy policies have been dominated by substantial reductions in discounts for large consumers, making the evaluation of each policy in isolation exceedingly difficult. To identify price effects, we construct a shift-share instrument that captures only the exogenous variation in establishment-specific energy prices. Our results highlight a trade-off between environmental and economic goals: although a 10 percent increase in energy prices brings about a 6 percent reduction in energy consumption and to a 11 percent reduction in CO 2 emissions, such an increase also has a modestly negative impact on employment (-2.6 percent) and very small impact on wages and productivity. The negative employment effects are mostly concentrated in energy-intensive and trade-exposed sectors. Simulating the effect of a carbon tax, we show that job losses for the most exposed sectors can be quite large. However, these effects are upper bounds and we show that they are significantly mitigated in multi-plant firms by labor reallocation across establishments. (authors)

  13. Stable phantom-energy wormholes admitting conformal motions

    Science.gov (United States)

    Kuhfittig, Peter K. F.

    It has been argued that wormholes are as good a prediction of Einstein’s theory as black holes but the theoretical construction requires a reverse strategy, specifying the desired geometric properties of the wormhole and leaving open the determination of the stress-energy tensor. We begin by confirming an earlier result by the author showing that a complete wormhole solution can be obtained by adopting the equation of state p = ωρ and assuming that the wormhole admits a one-parameter group of conformal motions. The main purpose of this paper is to use the assumption of conformal symmetry to show that the wormhole is stable to linearized radial perturbations whenever - 1.5 < ω < -1.

  14. Interdependencies in the energy-bioenergy-food price systems: A cointegration analysis

    International Nuclear Information System (INIS)

    Ciaian, Pavel; Kancs, d'Artis

    2011-01-01

    The present paper studies the interdependencies between the energy, bioenergy and food prices. We develop a vertically integrated multi-input, multi-output market model with two channels of price transmission: a direct biofuel channel and an indirect input channel. We test the theoretical hypothesis by applying time-series analytical mechanisms to nine major traded agricultural commodity prices, including corn, wheat, rice, sugar, soybeans, cotton, banana, sorghum and tea, along with one weighted average world crude oil price. The data consists of 783 weekly observations extending from January 1994 to December 2008. The empirical findings confirm the theoretical hypothesis that the prices for crude oil and agricultural commodities are interdependent including also commodities not directly used in bioenergy production: an increase in oil price by 1 $/barrel increases the agricultural commodity prices between 0.10 $/tonne and 1.80 $/tonne. Contrary to the theoretical predictions, the indirect input channel of price transmission is found to be small and statistically insignificant. (author)

  15. Perceived price complexity of dynamic energy tariffs: An investigation of antecedents and consequences

    International Nuclear Information System (INIS)

    Layer, Patrick; Feurer, Sven; Jochem, Patrick

    2017-01-01

    Dynamic tariffs have the potential to contribute to a successful shift from conventional to renewable energies, but tapping this potential in Europe ultimately depends on residential consumers selecting them. This study proposes and finds that consumer reactions to dynamic tariffs depend on the level of perceived price complexity that represents the cognitive effort consumers must engage in to compute the overall bill amount. An online experiment conducted with a representative sample of 664 German residential energy consumers examines how salient characteristics of dynamic tariffs contribute to perceived price complexity. Subsequently, a structural equation model (SEM) reveals that the depth of information processing is central to understand how price complexity relates to consumers’ behavioral intentions. The results suggest that it will be challenging to convince European consumers to select complex dynamic tariffs under the current legal framework. Policymakers will need to find ways to make these tariffs more attractive. - Highlights: • Little is known about the processes by which consumers evaluate dynamic tariffs. • In this evaluation process perceived price complexity plays a central role. • Tariff type, price endings, and discount presentation format drive price complexity. • Perceived price complexity decreases the depth of information processing. • A decreased depth of information processing ultimately leads to lower behavioral intentions.

  16. The economic and financial crisis: impacts on energy balances and prices

    International Nuclear Information System (INIS)

    Hyafil, Antoine

    2009-01-01

    The current economic crisis finds its origin in the existence of a global market for human capital, without unified prices: the development of a debt economy in Western countries can be regarded as an attempt to maintain economic growth in spite of the resulting pressure on labor wages. While the sub-prime crisis has shown the limits of such an attempt, the author believes that debt driven economic growth will continue to prevail in Western countries until price imbalances on the global market for human capital are resolved. This probably implies a substitution of public to private debt, and of private consumption to public investment with the resulting implications on public deficits, supply and demand, and relative prices. Energy prices will be sensitive to public spending's both mechanical impact on economic growth and qualitative impact on energy efficiency

  17. Information and Communications Systems for Control-by-Price of Distributed Energy Resources and Flexible Demand

    DEFF Research Database (Denmark)

    Nyeng, Preben; Østergaard, Jacob

    2011-01-01

    distributed energy resources and flexible demand as a regulating resource. Furthermore, the results illustrate and verify the applicability of the concept and the proposed infrastructure for controlling distributed energy resources and flexible demand.......The control-by-price concept fits well with controlling small-scale generation, storage and demand. In this paper, we investigate the required information and communications systems that are needed to realize the control-by-price concept for such units. We first present a proposal for overall...... and a small combined heat and power unit. The results show that the price-responsive controller reduces the end user’s electricity cost, or increases his income respectively, by about 7%. At the same time, the price-responsive controller provides an interface for the transmission system operator to utilize...

  18. ADAPT: a price-stabilizing compliance policy for renewable energy certificates: the case of SREC markets

    OpenAIRE

    Khazaei, Javad; Coulon, Michael; Powell, Warren B.

    2017-01-01

    Currently most Renewable Energy Certificate (REC) markets are defined based on targets which create an artificial step demand function resembling a cliff. This target policy produces volatile prices which can make investing in renewables a risky proposition. In this paper, we propose an alternative policy called Adjustable Dynamic Assignment of Penalties and Targets (ADAPT) which uses a sloped compliance penalty and a self-regulating requirement schedule, both designed to stabilize REC prices...

  19. Mass and energy-capital conservation equations to study the price evolution of non-renewable energy resources

    International Nuclear Information System (INIS)

    Gori, F.

    2006-01-01

    Mass conservation equation of non-renewable resources is employed to study the resources remaining in the reservoir according to the extraction policy. The energy conservation equation is transformed into an energy-capital conservation equation. The Hotelling rule is shown to be a special case of the general energy-capital conservation equation when the mass flow rate of extracted resources is equal to unity. Mass and energy-capital conservation equations are then coupled and solved together. It is investigated the price evolution of extracted resources. The conclusion of the Hotelling rule for non-extracted resources, i.e. an exponential increase of the price of non-renewable resources at the rate of current interest, is then generalized. A new parameter, called 'Price Increase Factor', PIF, is introduced as the difference between the current interest rate of capital and the mass flow rate of extraction of non-renewable resources. The price of extracted resources can increase exponentially only if PIF is greater than zero or if the mass flow rate of extraction is lower than the current interest rate of capital. The price is constant if PIF is zero or if the mass flow rate of extraction is equal to the current interest rate. The price is decreasing with time if PIF is smaller than zero or if the mass flow rate of extraction is higher than the current interest rate. (author)

  20. Structural Break, Stock Prices of Clean Energy Firms and Carbon Market

    Science.gov (United States)

    Wang, Yubao; Cai, Junyu

    2018-03-01

    This paper uses EU ETS carbon future price and Germany/UK clean energy firms stock indices to study the relationship between carbon market and clean energy market. By structural break test, it is found that the ‘non-stationary’ variables judged by classical unit root test do own unit roots and need taking first difference. After analysis of VAR and Granger causality test, no causal relationships are found between the two markets. However, when Hsiao’s version of causality test is employed, carbon market is found to have power in explaining the movement of stock prices of clean energy firms, and stock prices of clean energy firms also affect the carbon market.

  1. Dynamic pricing based on a cloud computing framework to support the integration of renewable energy sources

    Directory of Open Access Journals (Sweden)

    Rajeev Thankappan Nair

    2014-12-01

    Full Text Available Integration of renewable energy sources into the electric grid in the domestic sector results in bidirectional energy flow from the supply side of the consumer to the grid. Traditional pricing methods are difficult to implement in such a situation of bidirectional energy flow and they face operational challenges on the application of price-based demand side management programme because of the intermittent characteristics of renewable energy sources. In this study, a dynamic pricing method using real-time data based on a cloud computing framework is proposed to address the aforementioned issues. The case study indicates that the dynamic pricing captures the variation of energy flow in the household. The dynamic renewable factor introduced in the model supports consumer oriented pricing. A new method is presented in this study to determine the appropriate level of photovoltaic (PV penetration in the distribution system based on voltage stability aspect. The load flow study result for the electric grid in Kerala, India, indicates that the overvoltage caused by various PV penetration levels up to 33% is within the voltage limits defined for distribution feeders. The result justifies the selected level of penetration.

  2. Machine Learning for Identifying Demand Patterns of Home Energy Management Systems with Dynamic Electricity Pricing

    Directory of Open Access Journals (Sweden)

    Derck Koolen

    2017-11-01

    Full Text Available Energy management plays a crucial role in providing necessary system flexibility to deal with the ongoing integration of volatile and intermittent energy sources. Demand Response (DR programs enhance demand flexibility by communicating energy market price volatility to the end-consumer. In such environments, home energy management systems assist the use of flexible end-appliances, based upon the individual consumer’s personal preferences and beliefs. However, with the latter heterogeneously distributed, not all dynamic pricing schemes are equally adequate for the individual needs of households. We conduct one of the first large scale natural experiments, with multiple dynamic pricing schemes for end consumers, allowing us to analyze different demand behavior in relation with household attributes. We apply a spectral relaxation clustering approach to show distinct groups of households within the two most used dynamic pricing schemes: Time-Of-Use and Real-Time Pricing. The results indicate that a more effective design of smart home energy management systems can lead to a better fit between customer and electricity tariff in order to reduce costs, enhance predictability and stability of load and allow for more optimal use of demand flexibility by such systems.

  3. Sustainable Development and the Relative Prices of Fossil and Non-fossil Energy

    DEFF Research Database (Denmark)

    Larsen, Torben

    2007-01-01

    of production in new (marginal) plants for substituting sources of energy, primarily.      A review of the production price per kWh of electricity according to statistics from OECD/IEA where substitution relationships between fossil and non-fossil energy are multiple gives the following results: (1) Sun...

  4. Is there dependence and systemic risk between oil and renewable energy stock prices?

    International Nuclear Information System (INIS)

    Reboredo, Juan C.

    2015-01-01

    We study systemic risk and dependence between oil and renewable energy markets using copulas to characterize the dependence structure and to compute the conditional value-at-risk as a measure of systemic risk. We found significant time-varying average and symmetric tail dependence between oil returns and several global and sectoral renewable energy indices. Our evidence on systemic risk indicates that oil price dynamics significantly contributes around 30% to downside and upside risk of renewable energy companies. These results have important implications for risk management and renewable energy policies. - Highlights: • We study systemic risk and dependence between oil and renewable energy markets. • Dependence and conditional value-at-risk is obtained through copulas. • Oil and renewable energy displayed time-varying average and symmetric tail dependence. • Oil price contribution to the downside and upside risks of renewable energy companies was around 30%

  5. A Simple Operating Strategy of Small-Scale Battery Energy Storages for Energy Arbitrage under Dynamic Pricing Tariffs

    Directory of Open Access Journals (Sweden)

    Enrico Telaretti

    2015-12-01

    Full Text Available Price arbitrage involves taking advantage of an electricity price difference, storing electricity during low-prices times, and selling it back to the grid during high-prices periods. This strategy can be exploited by customers in presence of dynamic pricing schemes, such as hourly electricity prices, where the customer electricity cost may vary at any hour of day, and power consumption can be managed in a more flexible and economical manner, taking advantage of the price differential. Instead of modifying their energy consumption, customers can install storage systems to reduce their electricity bill, shifting the energy consumption from on-peak to off-peak hours. This paper develops a detailed storage model linking together technical, economic and electricity market parameters. The proposed operating strategy aims to maximize the profit of the storage owner (electricity customer under simplifying assumptions, by determining the optimal charge/discharge schedule. The model can be applied to several kinds of storages, although the simulations refer to three kinds of batteries: lead-acid, lithium-ion (Li-ion and sodium-sulfur (NaS batteries. Unlike literature reviews, often requiring an estimate of the end-user load profile, the proposed operation strategy is able to properly identify the battery-charging schedule, relying only on the hourly price profile, regardless of the specific facility’s consumption, thanks to some simplifying assumptions in the sizing and the operation of the battery. This could be particularly useful when the customer load profile cannot be scheduled with sufficient reliability, because of the uncertainty inherent in load forecasting. The motivation behind this research is that storage devices can help to lower the average electricity prices, increasing flexibility and fostering the integration of renewable sources into the power system.

  6. On the importance of commodity and energy price shocks for the macroeconomy

    Science.gov (United States)

    Edelstein, Paul S.

    Although higher commodity prices are commonly thought to presage higher rates of inflation, the existing literature suggests that the predictive power of commodity prices for inflation has waned since the 1980s. In the first chapter, I show that this result can be overturned using state-of-the-art forecast combination methods. Moreover, commodity prices are shown to contain predictive information not contained in the leading principal components of a broad set of macroeconomic and financial variables. These improved inflation forecasts are of little value, however, for predicting actual Fed policy decisions. The remaining two chapters study the effect of energy price shocks on U.S. consumer and business expenditures. In the second chapter, I show that there is no statistical support for the presence of asymmetries in the response of real consumption to energy price increases and decreases. This finding has important implications for empirical and theoretical models of the transmission of energy price shocks. I then quantify the direct effect on real consumption of (1) unanticipated changes in discretionary income, (2) shifts in precautionary savings, and (3) changes in the operating cost of energy-using durables. Finally, I trace the declining importance of energy price shocks relative to the 1970s to changes in the composition of U.S. automobile production and the declining overall importance of the U.S. automobile sector. An alternative source of asymmetry is the response of nonresidential fixed investment to energy price shocks. In the third chapter, I show that the apparent asymmetry in the estimated responses of business fixed investment in equipment and structures is largely an artifact (1) of the aggregation of mining-related expenditures by the oil, natural gas, and coal mining industry and all other expenditures, and (2) of ignoring an exogenous shift in investment caused by the 1986 Tax Reform Act. Once symmetry is imposed and miningrelated expenditures

  7. Peak-load pricing and thermal energy storage

    Energy Technology Data Exchange (ETDEWEB)

    1979-01-01

    Twenty papers were presented at the meeting. A separate abstract was prepared for each of 19 papers. One paper was processed previously for the Energy Data Base (EDB). Fifteen of the papers were processed for inclusion in Energy Abstracts for Policy Analysis (EAPA). (LCL)

  8. Regional Differences in the Price-Elasticity of Demand for Energy

    Energy Technology Data Exchange (ETDEWEB)

    Bernstein, M. A.; Griffin, J.

    2006-02-01

    At the request of the National Renewable Energy Laboratory (NREL), the RAND Corporation examined the relationship between energy demand and energy prices with the focus on whether the relationships between demand and price differ if these are examined at different levels of data resolution. In this case, RAND compares national, regional, state, and electric utility levels of data resolution. This study is intended as a first step in helping NREL understand the impact that spatial disaggregation of data can have on estimating the impacts of their programs. This report should be useful to analysts in NREL and other national laboratories, as well as to policy nationals at the national level. It may help them understand the complex relationships between demand and price and how these might vary across different locations in the United States.

  9. Optimal operation strategy of battery energy storage system to real-time electricity price in Denmark

    DEFF Research Database (Denmark)

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

    2010-01-01

    Since the hourly spot market price is available one day ahead, the price could be transferred to the consumers and they may have some motivations to install an energy storage system in order to save their energy costs. This paper presents an optimal operation strategy for a battery energy storage...... markets in some ways, is chosen as the studied power system in this paper. Two kinds of BESS, based on polysulfide-bromine (PSB) and vanadium redox (VRB) battery technologies, are studies in the paper. Simulation results show, that the proposed optimal operation strategy is an effective measure to achieve...... system (BESS) in relation to the real-time electricity price in order to achieve the maximum profits of the BESS. The western Danish power system, which is currently the grid area in the world that has the largest share of wind power in its generation profiles and may represent the future of electricity...

  10. Impact of energy pricing upon the Hispanic community

    Energy Technology Data Exchange (ETDEWEB)

    Martinez, T.M.

    1982-12-08

    This report concerns how the rising costs of energy has impacted upon the community, rural and urban, concentrating upon the social situation of Hispanics and Anglos in Central California. Truly, the foreign challenge can be overcome with enlightened and innovative public policies, in the tradition of Edison, with a firm basis in research data and analysis. Studies of residential usage is critical to understanding the overall energy consumption picture. Future planning for national energy needs depends heavily upon conservation by the residential sector. Yet, over half the population is composed of non-English speakers, low-income, the elderly and rentals, who typically conserve very little compared to middle and high income groups. If conservation is to be an expected new source of energy in the future, then there is a need for policy-makers to understand and penetrate the populations who should participate more in the national goal of energy independence.

  11. Green initiative impact on stock prices: A quantitative study of the clean energy industry

    Science.gov (United States)

    Jurisich, John M.

    The purpose of this quantitative ex post facto research study was to explore the relationship between green initiative expense disclosures and stock prices of 46 NASDAQ listed Clean Edge Green Energy global companies from 2007 to 2010. The independent variables were sales and marketing, environmental, customer and supplier, community, and corporate governance practices that were correlated with the dependent variable in the study of stock prices. Expense disclosures were examined in an effort to measure the impact of green initiative programs and to expose the interrelationships between green initiative expense disclosures and fluctuations of stock prices. The data for the research was secondary data from existing annual reports. A statistically significant relationship was revealed between environmental practices and changes in stock prices. The study results also provided substantial evidence for leadership and managerial decision making to reduce or increase green initiative practices to maximize shareholder wealth of their respective organizations.

  12. Electrical markets, energy security and technology diversification: nuclear as cover against gas and carbon price risks?

    International Nuclear Information System (INIS)

    Roques, F.A.; Newbery, D.M.; Nuttall, W.J.; Neufville, R. de

    2005-01-01

    Recent tension in the oil and gas markets has brought back the concept of energy offer diversification. Electrical production technology diversification in a country helps improve the security of supply and make up for the negative effects of hydrocarbons price variations. The portfolio and real options theories help to quantify the optimum diversification level for a country or a power company. The cover value of a nuclear investment for a power company facing cost uncertainties (price of gas and of carbon dioxide emission permit) and proceeds (price of electricity) is assessed. A strong link between the prices of gas and electricity reduces incentives to private producers to diversify, disputing the capacity of a liberalized electrical market to achieve optimum technology diversity from a domestic point of view. (authors)

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

    International Nuclear Information System (INIS)

    Petitet, Marie; Finon, Dominique; Janssen, Tanguy

    2017-01-01

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

  14. 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

  15. Drivers, trends, and uncertainty in long-term price projections for energy management in public buildings

    International Nuclear Information System (INIS)

    Egging, Ruud

    2013-01-01

    Buildings are responsible for almost 40% of energy consumption and CO 2 emissions in the EU (EC, 2010). Improving the energy efficiency of buildings is a vital step towards achieving the EU climate and energy objectives. Directive 2010/31/EU outlines measures specifically focused on the energy performance of buildings. Incentives are created for building operators to optimize their energy sub-systems in a more robust, energy-efficient, and cost-effective manner. The challenge is to choose efficient energy-supply portfolios accounting for technological and market deregulation and risks. Decision support tools for energy management in public buildings using future scenarios of market and technological developments would be beneficial. The aim of this paper is to discuss the drivers and uncertainties in the recent and future energy market trends and prices, including technological progress and developments in fossil-fuel markets. This discussion is relevant for researchers and policymakers in general, and in particular, as an input for scenarios used in the development of decision support systems. -- highlights: •Decision support tools for building energy management should address uncertainty. •Differences in technological progress affect new technologies competitiveness. •Fuel price projections are unreliable, even more so for natural gas than other fossil fuels. •Efficiency gains and merit order shifts can lower future electricity prices significantly. •Bandwidths for future parameters should represent the large uncertainty ranges

  16. What Price Energy? Hazards of Uranium Mining in the Southwest.

    Science.gov (United States)

    Barry, Tom

    1979-01-01

    This article describes the hazards, sickness, death and destruction caused by uranium mining/nuclear energy development in the Southwest focusing on the experiences of several Indian uranium mines. (RTS)

  17. Distributional effects of the Australian Renewable Energy Target (RET) through wholesale and retail electricity price impacts

    International Nuclear Information System (INIS)

    Cludius, Johanna; Forrest, Sam; MacGill, Iain

    2014-01-01

    The Australian Renewable Energy Target (RET) has spurred significant investment in renewable electricity generation, notably wind power, over the past decade. This paper considers distributional implications of the RET for different energy users. Using time-series regression, we show that the increasing amount of wind energy has placed considerable downward pressure on wholesale electricity prices through the so-called merit order effect. On the other hand, RET costs are passed on to consumers in the form of retail electricity price premiums. Our findings highlight likely significant redistributive transfers between different energy user classes under current RET arrangements. In particular, some energy-intensive industries are benefiting from lower wholesale electricity prices whilst being largely exempted from contributing to the costs of the scheme. By contrast, many households are paying significant RET pass through costs whilst not necessarily benefiting from lower wholesale prices. A more equitable distribution of RET costs and benefits could be achieved by reviewing the scope and extent of industry exemptions and ensuring that methodologies to estimate wholesale price components in regulated electricity tariffs reflect more closely actual market conditions. More generally, these findings support the growing international appreciation that policy makers need to integrate distributional assessments into policy design and implementation. - Highlights: • The Australian RET has complex yet important distributional impacts on different energy users. • Likely wealth transfers from residential and small business consumers to large energy-intensive industry. • Merit order effects of wind likely overcompensate exempt industry for contribution to RET costs. • RET costs for households could be reduced if merit order effects were adequately passed through. • Need for distributional impact assessments when designing and implementing clean energy policy

  18. Market-driven energy pricing necessary to ensure China's power supply

    International Nuclear Information System (INIS)

    Wang, Qiang; Qiu, Huan-Ning; Kuang, Yaoqiu

    2009-01-01

    China's rapid economic growth has strained its power supply, as manifested for instance by the widespread 2008 power shortage. The cause for this shortage is thought to be the current Chinese energy pricing system, which is mainly government rather than market controlled. Government-regulated price-caps for coal have seriously affected coal supply. At the same time price-caps for electricity supply have caused suspension of power plant operation. As a result, the average operating time of coal-fired power plants declined 50 h annually across the nation in the first half of 2008 compared to the previous year, despite clear power shortages. Here, it will be suggested that energy pricing, set by supply and demand may effectively discourage excessive growth in heavy industry, substantially encourage energy conservation and efficiency, and curb the rapid electricity demand in China. It will be argued that a market-oriented electricity pricing mechanism is required for China to secure its future power supply. (author)

  19. Can deployment of renewable energy put downward pressure on natural gas prices?

    International Nuclear Information System (INIS)

    Wiser, Ryan; Bolinger, Mark

    2007-01-01

    High and volatile natural gas prices have increasingly led to calls for investments in renewable energy. One line of argument is that deployment of these resources may lead to reductions in the demand for and price of natural gas. Many recent US-based modeling studies have demonstrated that this effect could provide significant consumer savings. In this article we evaluate these studies, and benchmark their findings against economic theory, other modeling results, and a limited empirical literature. We find that many uncertainties remain regarding the absolute magnitude of this effect, and that the reduction in natural gas prices may not represent an increase in aggregate economic wealth. Nonetheless, we conclude that many of the studies of the impact of renewable energy on natural gas prices appear to have represented this effect within reason, given current knowledge. These studies specifically suggest that a 1% reduction in US natural gas demand could lead to long-term average wellhead price reductions of 0.8-2%, and that each megawatt-hour of renewable energy may benefit natural gas consumers to the tune of at least $7.5-20

  20. Can deployment of renewable energy put downward pressure on natural gas prices?

    International Nuclear Information System (INIS)

    Wiser, R.; Bolinger, M.

    2007-01-01

    High and volatile natural gas prices have increasingly led to calls for investments in renewable energy. One line of argument is that deployment of these resources may lead to reductions in the demand for and price of natural gas. Many recent US-based modeling studies have demonstrated that this effect could provide significant consumer savings. In this article we evaluate these studies, and benchmark their findings against economic theory, other modeling results, and a limited empirical literature. We find that many uncertainties remain regarding the absolute magnitude of this effect, and that the reduction in natural gas prices may not represent an increase in aggregate economic wealth. Nonetheless, we conclude that many of the studies of the impact of renewable energy on natural gas prices appear to have represented this effect within reason, given current knowledge. These studies specifically suggest that a 1% reduction in US natural gas demand could lead to long-term average wellhead price reductions of 0.8-2%, and that each megawatt-hour of renewable energy may benefit natural gas consumers to the tune of at least $7.5-20. [Author

  1. The impact of intermittently renewable energy on Italian wholesale electricity prices: Additional benefits or additional costs?

    International Nuclear Information System (INIS)

    Gullì, Francesco; Balbo, Antonio Lo

    2015-01-01

    Most studies of the literature find that the development of renewable energy sources determines a decrease in the wholesale prices. Some authors use this finding to state that the current subsidies for renewable technologies cannot be considered as excessive. By carrying out a hybrid analysis (both simulation and ex-post empirical analyses) of the case of photovoltaic energy in Italy, this article demonstrates that this result cannot be generalised. Under market power, an increase in PV production can provide benefits in terms of a wholesale price decrease only beyond a specific threshold and especially if combined with other effects. Otherwise, it is likely that PV development could imply an increase in prices. Therefore, on the one hand, caution is necessary when using the estimated change in wholesale prices to evaluate the net cost for consumers of the supporting policies for renewables: either the simulation-based models or the full empirical analyses may be misleading. On the other hand, if 'decarbonisation' is the main objective, the energy policies should be designed in order to assure a deep and balanced penetration of the clean technologies, regardless of their estimated transitory impact on wholesale prices (and in the meantime reviewing the organisation of power markets). -- Highlights: •We use a hybrid analysis based on a combined approach (both simulation and ex-post empirical analyses). •There is a critical threshold of RES penetration within which prices may increase. •Price increases are more likely with PV rather than with wind power. •Either the simulation models or the full empirical analyses may be misleading. •Caution is necessary when using the results of these analyses for policy decisions

  2. Pulp & paper markets cope with high energy prices and growth in Asia : markets for paper, paperboard and woodpulp, 2005-2006

    Science.gov (United States)

    Peter J. Ince

    2006-01-01

    \\tPulp and paper markets in the UNECE region were influenced by higher energy prices and demand growth in Asia in 2005 and 2006. Important developments in Europe included the launching of the EU Emissions Trading Scheme, which was followed by substantial increases in electrical energy prices. High global energy prices pushed up costs of production and prices for pulp...

  3. Evaluating information in multiple horizon forecasts. The DOE's energy price forecasts

    International Nuclear Information System (INIS)

    Sanders, Dwight R.; Manfredo, Mark R.; Boris, Keith

    2009-01-01

    The United States Department of Energy's (DOE) quarterly price forecasts for energy commodities are examined to determine the incremental information provided at the one-through four-quarter forecast horizons. A direct test for determining information content at alternative forecast horizons, developed by Vuchelen and Gutierrez [Vuchelen, J. and Gutierrez, M.-I. 'A Direct Test of the Information Content of the OECD Growth Forecasts.' International Journal of Forecasting. 21(2005):103-117.], is used. The results suggest that the DOE's price forecasts for crude oil, gasoline, and diesel fuel do indeed provide incremental information out to three-quarters ahead, while natural gas and electricity forecasts are informative out to the four-quarter horizon. In contrast, the DOE's coal price forecasts at two-, three-, and four-quarters ahead provide no incremental information beyond that provided for the one-quarter horizon. Recommendations of how to use these results for making forecast adjustments is also provided. (author)

  4. Advances in electric power and energy systems load and price forecasting

    CERN Document Server

    2017-01-01

    A comprehensive review of state-of-the-art approaches to power systems forecasting from the most respected names in the field, internationally. Advances in Electric Power and Energy Systems is the first book devoted exclusively to a subject of increasing urgency to power systems planning and operations. Written for practicing engineers, researchers, and post-grads concerned with power systems planning and forecasting, this book brings together contributions from many of the world’s foremost names in the field who address a range of critical issues, from forecasting power system load to power system pricing to post-storm service restoration times, river flow forecasting, and more. In a time of ever-increasing energy demands, mounting concerns over the environmental impacts of power generation, and the emergence of new, smart-grid technologies, electricity price forecasting has assumed a prominent role within both the academic and industrial ar nas. Short-run forecasting of electricity prices has become nece...

  5. Internalising externalities of energy use through price mechanism: a developing country perspective

    International Nuclear Information System (INIS)

    Bhattacharyya, S.C.

    1995-01-01

    As concern grows about the environmental aspect of energy use, it is increasingly suggested in recent years that energy pricing should take negative externalities of energy use into account. A large body of literature, both theoretical and applied, has grown up over the years proposing a variety of options and methods for internalising environmental costs. However, most of these theories and methods, developed in the industrialised countries, have hitherto neglected two aspects of developing economies: the existence of informal sector in the economy and widespread use of traditional energies. This paper discusses the issues related to internalising environmental costs through price mechanism when these two aspects are included. It also calls for a more careful analysis of energy and environmental policies. (author)

  6. Testing the rationality of DOE's energy price forecasts under asymmetric loss preferences

    International Nuclear Information System (INIS)

    Mamatzakis, E.; Koutsomanoli-Filippaki, A.

    2014-01-01

    This paper examines the rationality of the price forecasts for energy commodities of the United States Department of Energy's (DOE), departing from the common assumption in the literature that DOE's forecasts are based on a symmetric underlying loss function with respect to positive vs. negative forecast errors. Instead, we opt for the methodology of Elliott et al. (2005) that allows testing the joint hypothesis of an asymmetric loss function and rationality and reveals the underlying preferences of the forecaster. Results indicate the existence of asymmetries in the shape of the loss function for most energy categories with preferences leaning towards optimism. Moreover, we also examine whether there is a structural break in those preferences over the examined period, 1997–2012. - Highlights: • Examine the rationality of DOE energy forecasts. • Departing from a symmetric underlying loss function. • Asymmetries exist in most energy prices. • Preferences lean towards optimism. • Examine structural breaks in those preferences

  7. Renewable Energy for Electric Vehicles : Price Based Charging Coordination

    NARCIS (Netherlands)

    Richstein, J.C.; Schuller, A.; Dinther, C.; Ketter, W.; Weinhardt, C.

    2012-01-01

    In this paper we investigate the charging coordination of battery electric vehicles (BEV) with respect to the availability of intermittent renewable energy generation considering individual real world driving profiles in a deterministic simulation based analysis, mapping a part of the German power

  8. Earning money in case of high energy prices

    International Nuclear Information System (INIS)

    Bruins, R.

    2004-01-01

    Energy-intensive industries in the Netherlands pay far too much for electric power. It could bring such industries to produce their own electricity or even supply electricity on the free market. The question is whether the industry considers this as a viable option [nl

  9. Nuclear energy consumption, oil prices, and economic growth: Evidence from highly industrialized countries

    International Nuclear Information System (INIS)

    Lee, Chien-Chiang; Chiu, Yi-Bin

    2011-01-01

    This study utilizes the Johansen cointegration technique, the Granger non-causality test of Toda and Yamamoto (1995), the generalized impulse response function, and the generalized forecast error variance decomposition to examine the dynamic interrelationship among nuclear energy consumption, real oil price, oil consumption, and real income in six highly industrialized countries for the period 1965-2008. Our empirical results indicate that the relationships between nuclear energy consumption and oil are as substitutes in the U.S. and Canada, while they are complementary in France, Japan, and the U.K. Second, the long-run income elasticity of nuclear energy is larger than one, indicating that nuclear energy is a luxury good. Third, the results of the Granger causality test find evidence of unidirectional causality running from real income to nuclear energy consumption in Japan. A bidirectional relationship appears in Canada, Germany and the U.K., while no causality exists in France and the U.S. We also find evidence of causality running from real oil price to nuclear energy consumption, except for the U.S., and causality running from oil consumption to nuclear energy consumption in Canada, Japan, and the U.K., suggesting that changes in price and consumption of oil influence nuclear energy consumption. Finally, the results observe transitory initial impacts of innovations in real income and oil consumption on nuclear energy consumption. In the long run the impact of real oil price is relatively larger compared with that of real income on nuclear energy consumption in Canada, Germany, Japan, and the U.S.

  10. Impact of energy price increases of an export dependent economy: Zambia, 1970-82.

    OpenAIRE

    Suckling J

    1985-01-01

    ILO pub-WEP pub. Working paper examining the impact of higher energy costs, partic. Petroleum price increases, on economic development trends, 1970-1982, in Zambia - covers balance of payments, economic growth, trade, inflation, wages, employment, income distribution, consumption, etc.; discusses economic policy options. References, statistical tables.

  11. Energy and Food Commodity Prices Linkage: An Examination with Mixed-Frequency Data

    NARCIS (Netherlands)

    Trujillo Barrera, A.A.; Pennings, J.M.E.

    2013-01-01

    Abstract Is the relationship between energy and agricultural commodities an important factor in the increasing price variability of food commodities? Findings from the literature appear to be mixed and highly influenced by the data frequency used in those analysis. A recurrent task in time series

  12. Volatility Spillovers for Spot, Futures, and ETF Prices in Energy and Agriculture

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); C-P. Liu (Chia-Ping); M.J. McAleer (Michael)

    2016-01-01

    textabstractThe agricultural and energy industries are closely related, both biologically and financially. The paper discusses the relationship and the interactions on price and volatility, with special focus on the covolatility spillover effects for these two industries. The interaction and

  13. The impact of renewable energy on electricity prices in the Netherlands

    NARCIS (Netherlands)

    Mulder, Machiel; Scholtens, Bert

    Electricity markets may become more sensitive to weather conditions because of a higher penetration of renewable energy sources and climatic changes. We investigate whether weather conditions had a growing influence on the average daily day-ahead price in the Dutch electricity market in the period

  14. Energy Aware Pricing in a Three-Tiered Cloud Service Market

    Directory of Open Access Journals (Sweden)

    Debdeep Paul

    2016-09-01

    Full Text Available We consider a three-tiered cloud service market and propose an energy efficient pricing strategy in this market. Here, the end customers are served by the Software-as-a-Service (SaaS providers, who implement customized services for their customers. To host these services, these SaaS providers, in turn, lease the infrastructure related resources from the Infrastructure-as-a-Service (IaaS or Platform-as-a-Service (PaaS providers. In this paper, we propose and evaluate a mechanism for pricing between SaaS providers and Iaas/PaaS providers and between SaaS providers and the end customers. The pricing scheme is designed in a way such that the integration of renewable energy is promoted, which is a very crucial aspect of energy efficiency. Thereafter, we propose a technique to strategically provide an improved Quality of Service (QoS by deploying more resources than what is computed by the optimization procedure. This technique is based on the square root staffing law in queueing theory. We carry out numerical evaluations with real data traces on electricity price, renewable energy generation, workload, etc., in order to emulate the real dynamics of the cloud service market. We demonstrate that, under practical assumptions, the proposed technique can generate more profit for the service providers operating in the cloud service market.

  15. Debates of the Vista 2010 Colloquium 'The right price of energy, from economic competitiveness to social justice'

    International Nuclear Information System (INIS)

    Cailletaud, Marie-Claire; Doutreligne, Patrick; Ducre, Henri; Lederer, Pierre; Abadie, Pierre-Marie; Bergougnoux, Jean; Geoffron, Patrice; Heuze, Gregoire; Lorenzi, Jean-Herve

    2012-12-01

    The interveners discuss the issue of the right price of energy, right price being understood as an issue of social justice as well as an issue of economic optimality and of industrial and investment growth. They notably outline and comment the necessity of a stronger European coherence, the importance of the economic, environmental and job issues, the necessity of social cohesion (accessibility to energy for all at an affordable price), and of the emergence of a low carbon economy

  16. Energy savings potential in China's industrial sector: From the perspectives of factor price distortion and allocative inefficiency

    International Nuclear Information System (INIS)

    Ouyang, Xiaoling; Sun, Chuanwang

    2015-01-01

    China's industrial energy consumption accounted for 70.82% of national and 14.12% of world energy usage in 2011. In the context of energy scarcity and environmental pollution, the industrial sector in China faces unsustainable growth problems. By adopting the stochastic frontier analysis (SFA) framework, this paper analyzes the factor allocative efficiency of China's industrial sector, and estimates the energy savings potential from the perspective of allocative inefficiency. This paper focuses on three issues. The first is examining the factor allocative inefficiency of China's industrial sector. The second is measuring factor price distortion by the shadow price model. The third is estimating the energy savings potential in China's industrial sector during 2001–2009. Major conclusions are thus drawn. First, factor prices of capital, labor and energy are distorted in China due to government regulations. Moreover, energy price is relatively low compared to capital price, while is relatively high compared to labor price. Second, the industry-wide energy savings potential resulted from energy allocative inefficiency was about 9.71% during 2001–2009. The downward trend of energy savings potential implies the increasing energy allocative efficiency in China's industrial sector. Third, a transparent and reasonable pricing mechanism is conducive to improving energy allocative efficiency. - Highlights: • We measure energy savings potential resulted from allocative inefficiency in China's industrial sector. • Allocative inefficiency is explained based on the theoretical and empirical models. • Factor prices of capital, labor and energy are distorted because of government regulations. • Energy pricing reform is conducive to improving energy allocative efficiency

  17. Pricing the (European) option to switch between two energy sources: An application to crude oil and natural gas

    International Nuclear Information System (INIS)

    Gatfaoui, Hayette

    2015-01-01

    We consider a firm, which can choose between crude oil and natural gas to run its business. The firm selects the energy source, which minimizes its energy or production costs at a given time horizon. Assuming the energy strategy to be established over a fixed time window, the energy choice decision will be made at a given future date T. In this light, the firm's energy cost can be considered as a long position in a risk-free bond by an amount of the terminal oil price, and a short position in a European put option to switch from oil to gas by an amount of the terminal oil price too. As a result, the option to switch from crude oil to natural gas allows for establishing a hedging strategy with respect to energy costs. Modeling stochastically the underlying asset of the European put, we propose a valuation formula of the option to switch and calibrate the pricing formula to empirical data on a daily basis. Hence, our innovative framework handles widely the hedge against the price increase of any given energy source versus the price of another competing energy source (i.e. minimizing energy costs). Moreover, we provide a price for the cost-reducing effect of the capability to switch from one energy source to another one (i.e. hedging energy price risk). - Highlights: • We consider a firm, which chooses either crude oil or natural gas as an energy source. • The capability to switch offers the firm a hedge against energy commodity price risk. • A European put option prices the ability to switch from crude oil to natural gas. • The capability to switch between two energy sources reduces the firm's energy costs. • The discount illustrates the efficiency of the energy management policy (e.g. timing).

  18. Rise of oil prices and energy policy; Hausse du petrole et politique energetique

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2005-07-01

    This document reprints the talk of the press conference given by D. de Villepin, French prime minister, on August 16, 2005 about the alarming rise of oil prices. In his talk, the prime minister explains the reasons of the crisis (increase of worldwide consumption, political tensions in the Middle East..) and presents the strategy and main trends of the French energy policy: re-launching of energy investments in petroleum refining capacities and in the nuclear domain (new generation of power plants), development of renewable energy sources and in particular biofuels, re-launching of the energy saving policy thanks to financial incentives and to the development of clean vehicles and mass transportation systems. In a second part, the prime minister presents his policy of retro-cession of petroleum tax profits to low income workers, and of charge abatement to professionals having an occupation strongly penalized by the rise of oil prices (truckers, farmers, fishermen, taxi drivers). (J.S.)

  19. Intermittently renewable energy, optimal capacity mix and prices in a deregulated electricity market

    International Nuclear Information System (INIS)

    Milstein, Irena; Tishler, Asher

    2011-01-01

    This paper assesses the effect of intermittently renewable energy on generation capacity mix and market prices. We consider two generating technologies: (1) conventional fossil-fueled technology such as combined cycle gas turbine (CCGT), and (2) sunshine-dependent renewable technology such as photovoltaic cells (PV). In the first stage of the model (game), when only the probability distribution functions of future daily electricity demand and sunshine are known, producers maximize their expected profits by determining the CCGT and PV capacity to be constructed. In the second stage, once daily demand and sunshine conditions become known, each producer selects the daily production by each technology, taking the capacities of both technologies as given, and subject to the availability of the PV capacity, which can be used only if the sun is shining. Using real-world data for Israel, we confirm that the introduction of PV technology amplifies price volatility. A large reduction in PV capacity cost increases PV adoption but may also raise the average price. Thus, when considering the promotion of renewable energy to reduce CO 2 emissions, regulators should assess the behavior of the electricity market, particularly with respect to characteristics of renewable technologies and demand and supply uncertainties. - Research Highlights: → This paper assesses the effect of intermittently renewable energy on generation capacity mix and market prices. → We consider two generating technologies: (1) conventional fossil-fueled technology such as CCGT and (2) sunshine-dependent renewable technology such as photovoltaic cells (PV). →Using real-world data for Israel, we confirm that the introduction of PV technology amplifies price volatility. → A large reduction in PV capacity cost increases PV adoption but may also raise the average price.

  20. Considerations for Solar Energy Technologies to Make Progress Towards Grid Price Parity

    Energy Technology Data Exchange (ETDEWEB)

    Woodhouse, Michael; Fu, Ran; Chung, Donald; Horowitz, Kelsey; Remo, Timothy; Feldman, David; Margolis, Robert

    2015-11-07

    In this seminar the component costs for solar photovoltaics module and system prices will be highlighted. As a basis for comparison to other renewable and traditional energy options, the metric of focus will be total lifecycle cost-of-energy (LCOE). Several innovations to traditional photovoltaics technologies (including crystalline silicon, CdTe, and CIGS) and developing technologies (including organics and perovskites) that may close the gaps in LCOE will be discussed.

  1. Residential Photovoltaic Energy Systems in California: The Effect on Home Sales Prices

    Energy Technology Data Exchange (ETDEWEB)

    Hoen, Ben; Wiser, Ryan; Thayer, Mark; Cappers, Peter

    2012-04-15

    Relatively little research exists estimating the marginal impacts of photovoltaic (PV) energy systems on home sale prices. Using a large dataset of California homes that sold from 2000 through mid-2009, we find strong evidence, despite a variety of robustness checks, that existing homes with PV systems sold for a premium over comparable homes without PV systems, implying a near full return on investment. Premiums for new homes are found to be considerably lower than those for existing homes, implying, potentially, a tradeoff between price and sales velocity. The results have significant implications for homeowners, builders, appraisers, lenders, and policymakers.

  2. Comprehensive optimisation of China’s energy prices, taxes and subsidy policies based on the dynamic computable general equilibrium model

    International Nuclear Information System (INIS)

    He, Y.X.; Liu, Y.Y.; Du, M.; Zhang, J.X.; Pang, Y.X.

    2015-01-01

    Highlights: • Energy policy is defined as a complication of energy price, tax and subsidy policies. • The maximisation of total social benefit is the optimised objective. • A more rational carbon tax ranges from 10 to 20 Yuan/ton under the current situation. • The optimal coefficient pricing is more conducive to maximise total social benefit. - Abstract: Under the condition of increasingly serious environmental pollution, rational energy policy plays an important role in the practical significance of energy conservation and emission reduction. This paper defines energy policies as the compilation of energy prices, taxes and subsidy policies. Moreover, it establishes the optimisation model of China’s energy policy based on the dynamic computable general equilibrium model, which maximises the total social benefit, in order to explore the comprehensive influences of a carbon tax, the sales pricing mechanism and the renewable energy fund policy. The results show that when the change rates of gross domestic product and consumer price index are ±2%, ±5% and the renewable energy supply structure ratio is 7%, the more reasonable carbon tax ranges from 10 to 20 Yuan/ton, and the optimal coefficient pricing mechanism is more conducive to the objective of maximising the total social benefit. From the perspective of optimising the overall energy policies, if the upper limit of change rate in consumer price index is 2.2%, the existing renewable energy fund should be improved

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

    International Nuclear Information System (INIS)

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

    2012-01-01

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

  4. China's experiment on the differential electricity pricing policy and the struggle for energy conservation

    International Nuclear Information System (INIS)

    Chen Jinjin

    2011-01-01

    Differential electricity pricing was promulgated by China's central government to guide the development of high energy-consuming industries, which are significant for energy conservation. This paper examines the twists and turns of the policy implementation at the provincial level, and seeks to elucidate the difficulties in its implementation. Local governments, concerned that following the central directives would hurt local interests, have tried to deviate from the central orders while the central revises the policy from time to time to ensure local compliance. Three difficulties are analyzed: (1) the current relations between the central and local energy regulatory institutions make these local institutions difficult to perform their duties, and affect incentives for local governments to respond to central directives; (2) financial reform puts a great burden on local governments to raise revenues to cover expenditures, making local governments focus mainly on economic development rather than serving merely as political agents of the central government; (3) the aggressive attitude of local governments in pursuing GDP growth is not necessarily driven by the central government, but by pressure from competition among localities and the need to win local support. Solving these difficulties is important for making national energy conservation polices effective and efficient. - Highlights: → Adopt the differential electricity pricing policy to achieve energy conservation. → The implementation of the differential electricity pricing policy is far from smooth. → Current relations between the central and local energy regulatory institutions. → Financial burden on local governments. → Pressure from competition among localities and the need to win local support.

  5. 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)

  6. Modeling a clean energy standard for electricity: Policy design implications for emissions, supply, prices, and regions

    International Nuclear Information System (INIS)

    Paul, Anthony; Palmer, Karen; Woerman, Matt

    2013-01-01

    The electricity sector is responsible for roughly 40% of U.S. carbon dioxide (CO 2 ) emissions, and a reduction in CO 2 emissions from electricity generation is an important component of the U.S. strategy to reduce greenhouse gas emissions. Toward that goal, several proposals for a clean energy standard (CES) have been put forth, including one espoused by the Obama administration that calls for 80% clean electricity by 2035 phased in from current levels of roughly 40%. This paper looks at the effects of such a policy on CO 2 emissions from the electricity sector, the mix of technologies used to supply electricity, electricity prices, and regional flows of clean energy credits. The CES leads to a 30% reduction in cumulative CO 2 emissions between 2013 and 2035 and results in dramatic reductions in generation from conventional coal. The policy also results in fairly modest increases on national electricity prices, but this masks a wide variety of effects across regions. - Highlights: ► We model a clean energy standard (CES) for electricity at 80% by 2035. ► We analyze effects on CO 2 emissions, investment, prices, and credit trading. ► 80% CES leads to 30% reduction in cumulative CO 2 emissions by 2035. ► Modest national average electricity price increase masks regional heterogeneity

  7. Optimal operation strategies of compressed air energy storage (CAES) on electricity spot markets with fluctuating prices

    DEFF Research Database (Denmark)

    Lund, Henrik; Salgi, Georges; Elmegaard, Brian

    2009-01-01

    on electricity spot markets by storing energy when electricity prices are low and producing electricity when prices are high. In order to make a profit on such markets, CAES plant operators have to identify proper strategies to decide when to sell and when to buy electricity. This paper describes three...... plants will not be able to achieve such optimal operation, since the fluctuations of spot market prices in the coming hours and days are not known. Consequently, two simple practical strategies have been identified and compared to the results of the optimal strategy. This comparison shows that...... independent computer-based methodologies which may be used for identifying the optimal operation strategy for a given CAES plant, on a given spot market and in a given year. The optimal strategy is identified as the one which provides the best business-economic net earnings for the plant. In practice, CAES...

  8. The growth of energy consumption and prices in the USA, West Germany, and the UK, 1950 to 1980

    Science.gov (United States)

    Doblin, C. P.

    1982-05-01

    The relationship between energy price and consumption was studied, especially reactions to oil price rises in the 1970's. Industrial, domestic, and road transportation energy consumption were examined. Until 1973, consumption rose steadily, while the inflation-adjusted price dropped. Immediate reaction to the two large price rises was a drop in consumption, but overall consumption continued to grow when the growth in total energy consumption was reversed. This change is due to adverse business conditions, displacement of coal by oil, oil by gas, and mineral fuels by electricity in given sectors, switches to less energy intensive activities, a change in the mix of gross national products, and weather conditions, as well as by price rises. Energy conservation measures had little impact.

  9. Financing renewable energy infrastructure: Formulation, pricing and impact of a carbon revenue bond

    International Nuclear Information System (INIS)

    Tang, Amy; Chiara, Nicola; Taylor, John E.

    2012-01-01

    Renewable energy systems depend on large financial incentives to compete with conventional generation methods. Market-based incentives, including state-level REC markets and international carbon markets have been proposed as solutions to increase renewable energy investment. In this paper we introduce and formulate a carbon revenue bond, a financing tool to complement environmental credit markets to encourage renewable energy investment. To illustrate its use, we value the bond by predicting future revenue using stochastic processes after analyzing historical price data. Three illustrative examples are presented for renewable energy development in three different markets: Europe, Australia and New Jersey. Our findings reveal that the sale of a carbon revenue bond with a ten year maturity can finance a significant portion of a project's initial cost. - Highlights: ► Current financial incentives for renewable energy in the US are inadequate. ► We introduce and structure a “carbon revenue bond” as an innovative financing tool. ► Stochastic models of environmental credit prices are used to illustrate bond pricing. ► Three examples illustrate revenue bond impact on initial cost of infrastructure.

  10. Practical operation strategies for pumped hydroelectric energy storage (PHES) utilising electricity price arbitrage

    International Nuclear Information System (INIS)

    Connolly, D.; Lund, H.; Finn, P.; Mathiesen, B.V.; Leahy, M.

    2011-01-01

    In this paper, three practical operation strategies (24Optimal, 24Prognostic, and 24Hsitrocial) are compared to the optimum profit feasible for a PHES facility with a 360 MW pump, 300 MW turbine, and a 2 GWh storage utilising price arbitrage on 13 electricity spot markets. The results indicate that almost all (∼97%) of the profits can be obtained by a PHES facility when it is optimised using the 24Optimal strategy developed, which optimises the energy storage based on the day-ahead electricity prices. However, to maximise profits with the 24Optimal strategy, the day-ahead electricity prices must be the actual prices which the PHES facility is charged or the PHES operator must have very accurate price predictions. Otherwise, the predicted profit could be significantly reduced and even become a loss. Finally, using the 24Optimal strategy, the PHES profit can surpass the annual investment repayments required. However, over the 5-year period investigated (2005-2009) the annual profit from the PHES facility varied by more than 50% on five out of six electricity markets considered. Considering the 40-year lifetime of PHES, even with low investment costs, a low interest rate, and a suitable electricity market, PHES is a risky investment without a more predictable profit. - Highlights: → Electricity generators typically operate on a market, including energy storage. → This paper assesses how energy storage can maximise its profits on a market. → Four operating strategies are assessed on 13 markets using a case study.→ One operating strategy achieves 97% of the profits feasible.→ However, the profit varies a lot depending on the market and capital costs.

  11. How the removal of energy subsidy affects general price in China: A study based on input–output model

    International Nuclear Information System (INIS)

    Jiang, Zhujun; Tan, Jijun

    2013-01-01

    In China, most energy prices are controlled by the government and are under-priced, which means energy subsidies existing. Reforming energy subsidies have important implications for sustainable development through their effects on energy price, energy use and CO 2 emission. This paper applies a price-gap approach to estimate China's fossil-fuel related subsidies with the consideration of the external cost. Results indicate that the magnitude of subsidies amounted to CNY 1214.24 billion in 2008, equivalent to 4.04% of GDP of that year. Subsidies for oil products are the largest, followed by subsidies for the coal and electricity. Furthermore, an input–output model is used to analyze the impacts of energy subsidies reform on different industries and general price indexes. The findings show that removal of energy subsidies will have significant impact on energy-intensive industry, and consequently push up the general price level, yet with a small variation. Removing oil products subsidies will have the largest impact, followed by electricity, coal and natural gas. However, no matter which energy price increases, PPI is always the most affected, then GDP deflator, with CPI being the least. Corresponding compensation measures should be accordingly designed to offset the negative impact caused by energy subsidies reform. - Highlights: • China's fossil-fuel subsidies were CNY 1214.24 billion in 2008 including external cost. • Removing energy subsidies will have the largest impact on energy-intensity industry. • Removal of oil products subsidies will have the largest impact. • The effect of removing energy subsidies on general price is: PPI>GDP deflator>CPI

  12. Energy pricing policy in economies in transition (EIT) - economic and social impact case of Poland

    International Nuclear Information System (INIS)

    Krawczynski, F.

    1996-01-01

    The economic and social impact of the energy policy and pricing in countries with economies in transition is shown on the Polish example. Detailed changes in industrial production, growth of investments in Poland are shown for the period 1990-1996 with annual inflation rate unemployment data. This is followed by expected growth of investments and inflation for the period 1993-2000. In the framework of primary energy consumption structure in 1994 and prospect for 2000 two possible scenarios of gas consumption by households, industry and for power generation, are presented up to 2010. Gas prices for the mentioned consumers in Poland are compared to those in Western Europe and environmental impacts are mentioned as well

  13. Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices

    Energy Technology Data Exchange (ETDEWEB)

    Hoen, Ben; Wiser, Ryan; Cappers, Peter; Thayer, Mark; Sethi, Gautam

    2010-04-01

    With wind energy expanding rapidly in the U.S. and abroad, and with an increasing number of communities considering nearby wind power developments, there is a need to empirically investigate community concerns about wind project development. One such concern is that property values may be adversely affected by wind energy facilities, and relatively little existing research exists on the subject. The present research is based on almost 7,500 sales of single-family homes situated within ten miles of 24 existing wind facilities in nine different U.S. states. The conclusions of the study are drawn from four different hedonic pricing models. The model results are consistent in that neither the view of the wind facilities nor the distance of the home to those facilities is found to have a statistically significant effect on home sales prices.

  14. Price-based Energy Control for V2G Networks in the Industrial Smart Grid

    Directory of Open Access Journals (Sweden)

    Rong Yu

    2015-08-01

    Full Text Available The energy crisis and global warming call for a new industrial revolution in production and distribution of renewable energy. Distributed power generation will be well developed in the new smart electricity distribution grid, in which robust power distribution will be the key technology. In this paper, we present a new vehicle-to-grid (V2G network for energy transfer, in which distributed renewable energy helps the power grid balance demand and supply. Plug-in hybrid electric vehicles (PHEVs will act as transporters of electricity for distributed renewable energy dispatching. We formulate and analyze the V2G network within the theoretical framework of complex network. We also employ the generalized synchronization method to study the dynamic behavior of V2G networks. Furthermore, we develop a new price-based energy control method to stimulate the PHEV's behavior of charging and discharging. Simulation results indicate that the V2G network can achieve synchronization and each region is able to balance energy supply and demand through price-based control.

  15. A Novel Demand Response Method for Smart Microgrids Related to the Uncertainties of Renewable Energy Resources and Energy Price

    Directory of Open Access Journals (Sweden)

    R. Roofegari Nejad

    2016-06-01

    Full Text Available This paper presents novel methods for Demand Response (DR programs by considering welfare state of consumers, to deal with the operational uncertainties, such as wind energy and energy price, within the framework of a smart microgrid. In this regard, total loads of microgrid are classified into two groups and each one is represented by a typical load. First group is energy storage capability represents by heater loads and second is curtailment capability loads represents by lighting loads. Next by the proposed DR methods, consumed energy of the all loads is coupled to the wind energy rate and energy price. Finally these methods are applied in the operation of a smart microgrid, consists of dispatchable supplier (microturbine, nondispatchable supplier (wind turbine, energy storage system and loads with the capability of energy exchanging with upstream distribution network. In order to consider uncertainties, Monte Carlo simulation method is used, which various scenarios are generated and applied in the operation of microgrid. In the end, the simulation results on a typical microgrid show that implementing proposed DR methods contributes to increasing total operational profit of smart microgrid and also decreasing the risk of low profit too.

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

    CERN Document Server

    Kopsakangas-Savolainen, Maria

    2012-01-01

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

  17. Oil demand and price elasticity of energy consumption in the GCC countries: A panel cointegration analysis

    OpenAIRE

    Md Qaiser Alam; Md Shabbir Alam; Syed Ahsan Jamil

    2016-01-01

    This paper examines the cointegrating relationship between oil demand and price elasticity of energy consumption in the Gulf Co-operation Council (GCC) countries during the period 1980-2010. The paper has applied the recently developed panel cointegration techniques, Dynamic Ordinary Least Squares (DOLS) and panel DOLS in a panel of GCC countries. The region is being recognized as the major region of oil production and export in the global economy. In recent times, the region is emerging as a...

  18. Solar Power Plants: Dark Horse in the Energy Stable

    Science.gov (United States)

    Caputo, Richard S.

    1977-01-01

    Twelfth in a series of reports on solar energy, this article provides information relating to the following questions: (1) economic cost of solar-thermal-electric central power plants; (2) cost comparison with nuclear or coal plants; (3) locations of this energy source; and (4) its use and social costs. (CS)

  19. Optimal operation of combined heat and power system based on forecasted energy prices in real-time markets

    OpenAIRE

    Gu, Chenghong; Xie, Da; Sun, Junbo; Wang, Xitian; Ai, Qian

    2015-01-01

    This paper develops a discrete operation optimization model for combined heat and powers (CHPs) in deregulated energy markets to maximize owners' profits, where energy price forecasting is included. First, a single input and multi-output (SIMO) model for typical CHPs is established, considering the varying ratio between heat and electricity outputs at different loading levels. Then, the energy prices are forecasted with a gray forecasting model and revised in real-time based on the actual pri...

  20. Decomposing price differentials due to ENERGY STARR labels and energy efficiency features in appliances: proxy for market share tracking?

    International Nuclear Information System (INIS)

    Gardner, John; Skumatz, Lisa A.

    2005-01-01

    This paper summarizes recent work using statistical methods to examine the portions of the apparent price differences for a variety of appliances that are attributable to efficiency labels or components of efficient measures. The work stems from research examining progress in market transformation. The goal was to monitor market progress in the premium associated with efficient equipment compared to standard equipment - and potentially track these changes (hopefully, according to logic, declining) over time. However, the incremental cost metric is always confounded by the fact that the 'feature bundle' on appliances and lighting is not consistent ( i.e. , many efficient products are loaded up with other, high-end features). Based on work conducted by the authors some years ago, we adapted statistical models to decompose the price differentials for efficient and standard refrigerators, clothes washers, and dish washers. The authors used site visits and web searches to gather data on appliance prices and features for a set of efficient and standard models. The authors first examined apparent (raw) price differentials between efficient and standard models. Then, using regression techniques to control for differences in features on the measures, the differences attributable to various features - and in particular to energy efficient features and logos - were estimated. The results showed that while the apparent (gross) price differences for efficient measures are high, the percentage and dollar differences decrease dramatically when the price differences statistically attributable to other features of the measure are accounted for. The work illustrates a promising approach for three important applications in program planning and evaluation: tracking market progress within and between states or service territories, using a proxy variable that is less expensive and complicated to measure than direct indicators of sales or market share, identifying appropriate levels for

  1. Quantifying uncertainties influencing the long-term impacts of oil prices on energy markets and carbon emissions

    Science.gov (United States)

    McCollum, David L.; Jewell, Jessica; Krey, Volker; Bazilian, Morgan; Fay, Marianne; Riahi, Keywan

    2016-07-01

    Oil prices have fluctuated remarkably in recent years. Previous studies have analysed the impacts of future oil prices on the energy system and greenhouse gas emissions, but none have quantitatively assessed how the broader, energy-system-wide impacts of diverging oil price futures depend on a suite of critical uncertainties. Here we use the MESSAGE integrated assessment model to study several factors potentially influencing this interaction, thereby shedding light on which future unknowns hold the most importance. We find that sustained low or high oil prices could have a major impact on the global energy system over the next several decades; and depending on how the fuel substitution dynamics play out, the carbon dioxide consequences could be significant (for example, between 5 and 20% of the budget for staying below the internationally agreed 2 ∘C target). Whether or not oil and gas prices decouple going forward is found to be the biggest uncertainty.

  2. The development in energy consumption, price sensitivity and allocation of power; Utviklingen i stroemforbruket, prisfoelsomheten og stroemmarkedet

    Energy Technology Data Exchange (ETDEWEB)

    Halvorsen, Bente

    2012-11-15

    This report discusses the development in energy consumption in households, service industries, primary industries and other small industries, both in the short run (hour to hour, day by day) and over a longer period, back to the 1960. The report discusses the main driving forces behind this development, as well as the demand price sensitivity and its role in the allocation of power between customers and over time. The analysis shows that for the short-term fluctuations in consumption from hour to hour, the temperature of the main driver, while price changes have less influence. For the long-term trend, however, changes in relative energy prices are a key driver, along with population and income growth. Even if the short term price sensitivity is low for end-users, it may still have a big influence on the short-term clearance of the market (from hour to hour), as it affects the short term price sensitivity in the spot market. The long-term price elasticities in the retail markets is more important for determining consumption over a time period, and is important in allocating energy resources over time in the spot market, e.g. over the winter months. Empirical analyses show that the Norwegian demand responds to price changes, both in the short term in the spot market and in the longer term in the retail market. It takes a few weeks before the price signals from spot market affects the consumer prise for most end-users, but by then, most of the price signal has been transmitted. It also follows from the analysis that it is important to let prices vary between regions of the market in the event of scarcity, so customers in regions where shortages occur, have the incentive to change their demand. The faster these price signals affect consumer prices, the more efficient the market will be able to handle a tight power situation.(Author)

  3. An analysis of Renewable Portfolio Standard policy formulation and its influence on state level energy prices

    Science.gov (United States)

    McCollester, Peter Colin

    Over the past two decades, environmental concern has crept to the forefront of the world policy agenda. This concern has manifested itself differently throughout the world. In the United States, this has come in the form of Renewable Portfolio Standards (RPS) which have become one of the primary policy tools which states use to encourage renewable energy generation. The advent of RPS has spurred intense debate at a federal and state level, centering on the economic merits of promoting renewable energy generation. Detractors argue that RPS will raise electricity rates, since generation from renewable sources is typically costlier than energy generated from fossil fuels. At this point, evidence to the relationship between RPS on electricity prices remains unclear. Researchers have attempted to understand this relationship through a variety of means. The most common being regression based models, which utilize readily available United States Energy Information Agency (US EIA) data, and have uncovered a number of important independent variables which are incorporated into the model in this study. Examples include personal income, state population, and deregulation of an energy market. In addition to empirical studies, the National Renewable Energy Laboratory (NREL) has created complex mathematical models which generate scenario projections based on a number of assumptions. While interesting, these are forward looking tools and as such have not yielded a tremendous amount of insight into the underlying policy mechanics of RPS. A challenge of addressing this topic which is worth noting is that much of the research available which analyzes the merits of RPS caters to distinct political or private sector agendas. The research gathered for this study is comprehensive, and attempts to avoid studies with any clear political, ideological, or financial motivation. Using the insights from previous researchers this study develops a rigorous fixed effects regression model to

  4. Long term thermal energy storage with stable supercooled sodium acetate trihydrate

    DEFF Research Database (Denmark)

    Dannemand, Mark; Schultz, Jørgen M.; Johansen, Jakob Berg

    2015-01-01

    Utilizing stable supercooling of sodium acetate trihydrate makes it possible to store thermal energy partly loss free. This principle makes seasonal heat storage in compact systems possible. To keep high and stable energy content and cycling stability phase separation of the storage material must...... to 230 kJ/kg. TRNSYS simulations of a solar combi system including a storage with four heat storage modules of each 200 kg of sodium acetate trihydrate utilizing stable supercooling achieved a solar fraction of 80% for a low energy house in Danish climatic conditions....

  5. Sustainable Energy Development: The Key to a Stable Nigeria

    Directory of Open Access Journals (Sweden)

    Kalu Uduma

    2010-06-01

    Full Text Available This paper proposes the use of sustainable energy systems based on solar and biomass technologies to provide solutions to utility challenges in Nigeria and acute water shortage both in rural and urban areas of that country. The paper highlights the paradoxes of oil-rich Nigeria and the stark reality of social infrastructure deprivations in that country. Perennial power outages over many years have translated to the absence of or poorly-developed basic social infrastructures in Nigeria. The consequences of this lack have been an increase in abject poverty in rural and urban communities as well as the erosion of social order and threats to citizen and their property. This paper proposes the adaptation of two emerging technologies for building sustainable energy systems and the development of decentralized and sustainable energy sources as catalyst for much-needed social infrastructure development through the creation of Renewable Energy Business Incubators, creative lending strategies, NGO partnerships and shifting energy-distribution responsibilities. These changes will stimulate grassroots economies in the country, develop large quantities of much needed clean water, maintain acceptable standards of sanitation and improve the health and wellbeing of Nigerian communities. The proposed strategies are specific to the Nigerian context; however, the authors suggest that the same or similar strategies may provide energy and social infrastructure development solutions to other developing countries as well.

  6. Energy consumption, prices and economic growth in three SSA countries: A comparative study

    International Nuclear Information System (INIS)

    Odhiambo, Nicholas M.

    2010-01-01

    In this paper we examine the causal relationship between energy consumption and economic growth in three sub-Saharan African countries, namely South Africa, Kenya and Congo (DRC). We incorporate prices as an intermittent variable in a bivariate setting between energy consumption and economic growth-thereby creating a simple trivariate framework. Using the ARDL-bounds testing procedure, we find that the causality between energy consumption and economic growth varies significantly across the countries under study. The results show that for South Africa and Kenya there is a unidirectional causal flow from energy consumption to economic growth. However, for Congo (DRC) it is economic growth that drives energy consumption. These findings have important policy implications insofar as energy conservation policies are concerned. In the case of Congo (DRC), for example, the implementation of energy conservation policies may not significantly affect economic growth because the country's economy is not entirely energy dependent. However, for South Africa and Kenya there is a need for more energy supply augmentations in order to cope with the long-run energy demand. In the short-run, however, the two countries should explore more efficient and cost-effective sources of energy in order to address the energy dependency problem.

  7. 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

  8. Renewable energy consumption, CO2 emissions and oil prices in the G7 countries

    International Nuclear Information System (INIS)

    Sadorsky, Perry

    2009-01-01

    Economic and societal issues related to energy security and global warming is placing greater emphasis on the consumption of renewable energy. This paper presents and estimates an empirical model of renewable energy consumption for the G7 countries. Panel cointegration estimates show that in the long term, increases in real GDP per capita and CO 2 per capita are found to be major drivers behind per capita renewable energy consumption. These results are robust across two different panel cointegration estimators. Oil price increases have a smaller although negative impact on renewable energy consumption. Deviations from equilibrium are driven mostly by the error correction term as opposed to short term shocks. Short term deviations from the long term equilibrium take anywhere from between 1.3 years (France) and 7.3 years (Japan) to correct. (author)

  9. Stable schemes for dissipative particle dynamics with conserved energy

    Energy Technology Data Exchange (ETDEWEB)

    Stoltz, Gabriel, E-mail: stoltz@cermics.enpc.fr

    2017-07-01

    This article presents a new numerical scheme for the discretization of dissipative particle dynamics with conserved energy. The key idea is to reduce elementary pairwise stochastic dynamics (either fluctuation/dissipation or thermal conduction) to effective single-variable dynamics, and to approximate the solution of these dynamics with one step of a Metropolis–Hastings algorithm. This ensures by construction that no negative internal energies are encountered during the simulation, and hence allows to increase the admissible timesteps to integrate the dynamics, even for systems with small heat capacities. Stability is only limited by the Hamiltonian part of the dynamics, which suggests resorting to multiple timestep strategies where the stochastic part is integrated less frequently than the Hamiltonian one.

  10. An Energy stable Monolithic Eulerian Fluid-Structure Numerical Scheme *

    OpenAIRE

    Pironneau , Olivier

    2017-01-01

    The conservation laws of continuum mechanic written in an Eulerian frame make no difference between fluids and solids except in the expression of the stress tensors, usually with Newton's hypothesis for the fluids and Helmholtz potentials of energy for hyperelastic solids. By taking the velocities as unknown , monolithic methods for fluid structure interactions (FSI) are built. In this article such a formulation is analyzed when the fluid is compressible and the fluid is incompressible. The i...

  11. Social Optimization and Pricing Policy in Cognitive Radio Networks with an Energy Saving Strategy

    Directory of Open Access Journals (Sweden)

    Shunfu Jin

    2016-01-01

    Full Text Available The rapid growth of wireless application results in an increase in demand for spectrum resource and communication energy. In this paper, we firstly introduce a novel energy saving strategy in cognitive radio networks (CRNs and then propose an appropriate pricing policy for secondary user (SU packets. We analyze the behavior of data packets in a discrete-time single-server priority queue under multiple-vacation discipline. With the help of a Quasi-Birth-Death (QBD process model, we obtain the joint distribution for the number of SU packets and the state of base station (BS via the Matrix-Geometric Solution method. We assess the average latency of SU packets and the energy saving ratio of system. According to a natural reward-cost structure, we study the individually optimal behavior and the socially optimal behavior of the energy saving strategy and use an optimization algorithm based on standard particle swarm optimization (SPSO method to search the socially optimal arrival rate of SU packets. By comparing the individually optimal behavior and the socially optimal behavior, we impose an appropriate admission fee to SU packets. Finally, we present numerical results to show the impacts of system parameters on the system performance and the pricing policy.

  12. Do energy prices stimulate food price volatility? Examining volatility transmission between US oil, ethanol and corn markets

    NARCIS (Netherlands)

    Gardebroek, C.; Hernandez, M.A.

    2012-01-01

    This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. Preliminary results indicate a higher

  13. Do energy prices stimulate food price volatility? Examining volatility transmission between US oil, ethanol and corn markets

    NARCIS (Netherlands)

    Gardebroek, C.; Hernandez, M.A.

    2013-01-01

    This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. Preliminary results indicate a higher

  14. Do energy prices stimulate food price volatility? Examining volatility transmission between US oil, ethanol and corn markets

    NARCIS (Netherlands)

    Hernandez, M.A.; Gardebroek, C.

    2012-01-01

    This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. The estimation results indicate a higher

  15. Palmitic acid/polypyrrole composites as form-stable phase change materials for thermal energy storage

    International Nuclear Information System (INIS)

    Silakhori, Mahyar; Metselaar, Hendrik Simon Cornelis; Mahlia, Teuku Meurah Indra; Fauzi, Hadi; Baradaran, Saeid; Naghavi, Mohammad Sajad

    2014-01-01

    Highlights: • A novel phase change composite of palmitic acid–polypyrrole(PA–PPy) was fabricated. • Thermal properties of PA–PPy are characterized in different mass ratios of PA–PPy. • Thermal cycling test showed that form stable PCM had a favorable thermal reliability. - Abstract: In this study a novel palmitic acid (PA)/polypyrrole (PPy) form-stable PCMs were readily prepared by in situ polymerization method. PA was used as thermal energy storage material and PPy was operated as supporting material. Form-stable PCMs were investigated by SEM (scanning electron microscopy) and FTIR (Fourier transform infrared spectrometer) analysis that illustrated PA Particles were wrapped by PPy particles. XRD (X-ray diffractometer) was used for crystalline phase of PA/PPy composites. Thermogravimetry analysis (TGA) and differential scanning calorimetry (DSC) were used for investigating Thermal stability and thermal energy storage properties of prepared form-stable PCMs. According to the obtained results the form stable PCMs exhibited favorable thermal stability in terms of their phase change temperature. The form-stable PCMs (79.9 wt% loading of PA) were considered as the highest loading PCM with desirable latent heat storage of 166.3 J/g and good thermal stability. Accelerated thermal cycling tests also showed that form stable PCM had an acceptable thermal reliability. As a consequence of acceptable thermal properties, thermal stability and chemical stability, we can consider the new kind of form stable PCMs for low temperature solar thermal energy storage applications

  16. An Electricity Price-Aware Open-Source Smart Socket for the Internet of Energy

    Science.gov (United States)

    Blanco-Novoa, Óscar; Fernández-Caramés, Tiago M.; Fraga-Lamas, Paula; Castedo, Luis

    2017-01-01

    The Internet of Energy (IoE) represents a novel paradigm where electrical power systems work cooperatively with smart devices to increase the visibility of energy consumption and create safer, cleaner and sustainable energy systems. The implementation of IoE services involves the use of multiple components, like embedded systems, power electronics or sensors, which are an essential part of the infrastructure dedicated to the generation and distribution energy and the one required by the final consumer. This article focuses on the latter and presents a smart socket system that collects the information about energy price and makes use of sensors and actuators to optimize home energy consumption according to the user preferences. Specifically, this article provides three main novel contributions. First, what to our knowledge is the first hardware prototype that manages in a practical real-world scenario the price values obtained from a public electricity operator is presented. The second contribution is related to the definition of a novel wireless sensor network communications protocol based on Wi-Fi that allows for creating an easy-to-deploy smart plug system that self-organizes and auto-configures to collect the sensed data, minimizing user intervention. Third, it is provided a thorough description of the design of one of the few open-source smart plug systems, including its communications architecture, the protocols implemented, the main sensing and actuation components and the most relevant pieces of the software. Moreover, with the aim of illustrating the capabilities of the smart plug system, the results of different experiments performed are shown. Such experiments evaluate in real-world scenarios the system’s ease of use, its communications range and its performance when using HTTPS. Finally, the economic savings are estimated for different appliances, concluding that, in the practical situation proposed, the smart plug system allows certain energy

  17. An Electricity Price-Aware Open-Source Smart Socket for the Internet of Energy.

    Science.gov (United States)

    Blanco-Novoa, Óscar; Fernández-Caramés, Tiago M; Fraga-Lamas, Paula; Castedo, Luis

    2017-03-21

    The Internet of Energy (IoE) represents a novel paradigm where electrical power systems work cooperatively with smart devices to increase the visibility of energy consumption and create safer, cleaner and sustainable energy systems. The implementation of IoE services involves the use of multiple components, like embedded systems, power electronics or sensors, which are an essential part of the infrastructure dedicated to the generation and distribution energy and the one required by the final consumer. This article focuses on the latter and presents a smart socket system that collects the information about energy price and makes use of sensors and actuators to optimize home energy consumption according to the user preferences. Specifically, this article provides three main novel contributions. First, what to our knowledge is the first hardware prototype that manages in a practical real-world scenario the price values obtained from a public electricity operator is presented. The second contribution is related to the definition of a novel wireless sensor network communications protocol based on Wi-Fi that allows for creating an easy-to-deploy smart plug system that self-organizes and auto-configures to collect the sensed data, minimizing user intervention. Third, it is provided a thorough description of the design of one of the few open-source smart plug systems, including its communications architecture, the protocols implemented, the main sensing and actuation components and the most relevant pieces of the software. Moreover, with the aim of illustrating the capabilities of the smart plug system, the results of different experiments performed are shown. Such experiments evaluate in real-world scenarios the system's ease of use, its communications range and its performance when using HTTPS. Finally, the economic savings are estimated for different appliances, concluding that, in the practical situation proposed, the smart plug system allows certain energy

  18. 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.

  19. 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.

  20. The impact of ICT investment and energy price on industrial electricity demand: Dynamic growth model approach

    International Nuclear Information System (INIS)

    Cho, Youngsang; Lee, Jongsu; Kim, Tai-Yoo

    2007-01-01

    The authors investigate the effects of information and communications technology (ICT) investment, electricity price, and oil price on the consumption of electricity in South Korea's industries using a logistic growth model. The concept electricity intensity is used to explain electricity consumption patterns. An empirical analysis implies that ICT investment in manufacturing industries that normally consume relatively large amounts of electricity promotes input factor substitution away from the labor intensive to the electricity intensive. Moreover, results also suggest that ICT investment in some specific manufacturing sectors is conducive to the reduction of electricity consumption, whereas ICT investment in the service sector and most manufacturing sectors increases electricity consumption. It is concluded that electricity prices critically affect electricity consumption in half of South Korea's industrial sectors, but not in the other half, a finding that differs somewhat from previous research results. Reasons are suggested to explain why the South Korean case is so different. Policymakers may find this study useful, as it answers the question of whether ICT investment can ultimately reduce energy consumption and may aid in planning the capacity of South Korea's national electric power. (author)

  1. Just value of the Tactebel energy: an valuation from the main models of pricing asset

    Directory of Open Access Journals (Sweden)

    Renato Campos

    2010-01-01

    Full Text Available This study aimed to determine the current fair value of Tractebel Energia, from the main asset pricing models. The company was taken as the object due to its stable growth and the ease of obtaining data, since it is located in the city of Florianopolis. Nevertheless, the volatility in its shares has been priced aroused interest. Therefore, this study intended to provide subsidy for the decision making of investors regarding the purchase or sale of company stock. For this, the theoretical treat on the concept of asset valuation and the main models available, emphasizing their applications and limitations, which are: assessment book on, discounted dividend model and discounted cash flow. Regarding the methodological aspect, the research fits into exploratory, descriptive, highly quantitative field study and case. Moreover, it was made use of desk research, literature, interview and program Economática. Thus, the analysis of data initially sought to raise the assumptions demanded by each of the models surveyed ad apply them. The results were then compared and adjusted so that there is consistency. He was later adopted an arithmetic mean to assign a fair value to the company. From this average was defined as an acceptance range, depending on the variability of results and uncertainty in the estimates.

  2. Review of energy efficiency CO2 and price policies and measures in EU countries and Norway in 2001

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2002-04-01

    For each countries of the European Union and the Norway, this document provides statistical data and analysis of the situation concerning the energy efficiency context, the measures and programs on the energy policy, the energy taxes and prices, the budget. (A.L.B.)

  3. An Analysis of the Effects of Residential Photovoltaic Energy Systems on Home Sales Prices in California

    Energy Technology Data Exchange (ETDEWEB)

    Hoen, Ben; Cappers, Peter; Wiser, Ryan; Thayer, Mark

    2011-04-19

    An increasing number of homes in the U.S. have sold with photovoltaic (PV) energy systems installed at the time of sale, yet relatively little research exists that estimates the marginal impacts of those PV systems on home sale prices. A clearer understanding of these possible impacts might influence the decisions of homeowners considering the installation of a PV system, homebuyers considering the purchase of a home with PV already installed, and new home builders considering including PV as an optional or standard product on their homes. This research analyzes a large dataset of California homes that sold from 2000 through mid-2009 with PV installed. It finds strong evidence that homes with PV systems sold for a premium over comparable homes without PV systems during this time frame. Estimates for this premium expressed in dollars per watt of installed PV range, on average, from roughly $4 to $5.5/watt across a large number of hedonic and repeat sales model specifications and robustness tests. When expressed as a ratio of the sales price premium of PV to estimated annual energy cost savings associated with PV, an average ratio of 14:1 to 19:1 can be calculated; these results are consistent with those of the more-extensive existing literature on the impact of energy efficiency on sales prices. When the data are split among new and existing homes, however, PV system premiums are markedly affected. New homes with PV show premiums of $2.3-2.6/watt, while existing homes with PV show premiums of more than $6/watt. Reasons for this discrepancy are suggested, yet further research is warranted. A number of other areas where future research would be useful are also highlighted.

  4. Economic modelling of price support mechanisms for renewable energy: Case study on Ireland

    International Nuclear Information System (INIS)

    Huber, Claus; Ryan, Lisa; O Gallachoir, Brian; Resch, Gustav; Polaski, Katrina; Bazilian, Morgan

    2007-01-01

    The Irish Government is considering its future targets, policy and programmes for renewable energy for the period beyond 2005. This follows a review in 2003 of policy options that identified a number of different measures to stimulate increased deployment of renewable energy generation capacity. This paper expands this review with an economic analysis of renewable energy price support mechanisms in the Irish electricity generation sector. The focus is on three primary price support mechanisms quota obligations, feed in tariffs and competitive tender schemes. The Green-X computer model is utilised to characterise the RES-E potential and costs in Ireland up until, and including, 2020. The results from this dynamic software tool are used to compare the different support mechanisms in terms of total costs to society and the average premium costs relative to the market price for electricity. The results indicate that in achieving a 20% RES-E proportion of gross electricity consumption by 2020, a tender scheme provides the least costs to society over the period 2006-2020 but only in case there is limited or no strategic bidding. Considering, however, strategic bidding, a feed-in tariff can be the more efficient solution. Between the other two support mechanisms, the total costs to society are highest for feed-in-tariffs (FIT) until 2013, at which point the costs for the quota system begin to rise rapidly and overtake FIT in 2014-2020. The paper also provides a sensitivity analysis of the support mechanism calculations by varying default parameters such as the interim (2010) target, the assumed investment risk levels and the amount of biomass co-firing. This analysis shows that a 2010 target of 15% rather than 13.2% generates lower costs for society over the whole period 2006-2020, but higher costs for the RES-E strategy over the period 2006-2010

  5. CONDITIONAL JUMP DYNAMICS IN THE STOCK PRICES OF ALTERNATIVE ENERGY COMPANIES

    Directory of Open Access Journals (Sweden)

    Yen-Hsien Lee

    2013-01-01

    Full Text Available This paper researches the abnormal information in the WilderHill Clean Energy Index (ECO and NYSE Arca Technology Index (PSE by using an autoregressive conditional jump intensity model in Skew Generalized Error Distribution (ARJI-SGED. The research period is from 3 January 2001 to 31 January 2011. We also test the diffusion-jump variance on the PSE and ECO. The empirical result indicates that there are jump phenomena in clean energy and technology companies. The oil price impacts on clean energy and technology companies. Moreover, the PSE has higher levels of volatility clustering than the ECO. These results show that the distributions of PSE return are skewed slightly to the left and fat-tailed. These also mean that jump variance plays a crucial role in market volatility indices.

  6. Petroleum price will go down again

    Energy Technology Data Exchange (ETDEWEB)

    1982-12-01

    Will the 1983 petroleum price remain stable. Already today there is practically no doubt about it. The International Energy Agency, Paris, and the Institute of Energy Economy of the university of Cologne expect a downward movement of petroleum prices up to 1985/6. After that time a new price boom is expected to set in. The OPEC members do as much as they can to satisfy the hopes for sinking petroleum prices. They raise their production rates and increase the pressure of supply as against a shrinking demand. The list prices exist in part merely on paper. The OPEC conference in Vienna provided no solution. Negotiations are being continued on January 15th, 1983. Subject: quantities and prices.

  7. Electrical energy prices and losses respect to Turkish social-economic situations

    International Nuclear Information System (INIS)

    Berktay, Ali; Demirbas, Ayhan; Kocak, Saim; Nas, Bilgehan

    2004-01-01

    Electricity is a basic part of nature and it is one of the most widely used forms of energy. Electricity, which is a secondary energy source, can be generated from the conversion of other sources of energy, such as coal, natural gas, oil, nuclear power and renewable resources. Electricity prices have a deep impact on the competitiveness of a country's industry. Some electricity losses may occur during the process of transmission and distribution from generators to consumers. Generally there are two types of losses, one is technical losses which cover transmission losses and the other is non-technical losses including distribution losses and the incidence of illegal usage. The aim of this paper is to present the electricity usage and prices and is also to focus on the electricity losses occur both technical and non-technical means. An 'electricity losses map' was produced to illustrate the electricity losses. For this purpose, a vector based Geographic Information System (GIS) software package Arc GIS 8.3 was employed to map the data. The rate of losses within the electricity provided to the national network was about 19% in Turkey. The incidence of illegal usage and hence the rate of non-technical losses could be reduced dramatically through establishing regular action. (Author)

  8. Research document no. 25. Prices versus quantities: environmental policies for promoting the development of renewable energy

    International Nuclear Information System (INIS)

    Menanteau, Ph.; Finon, D.; Lamy, M.L.

    2001-05-01

    Now that the risks of climate change have been confirmed and the European States have declared their willingness to pursue ambitious objectives for producing electricity from renewable energy sources, it becomes crucial to take a look at the relative efficiency of the different incentive schemes used. Such schemes may focus on quantities, or on prices. Whatever the system chosen, the role of the public authorities is quite specific: to stimulate technical progress and speed up the technological learning processes so that ultimately renewable energy technologies will be able to compete with conventional technologies, once the environmental costs have been internalized. The authors examine the efficiency of the different incentive schemes for the development of renewable energy sources, both from a theoretical point of view by comparing price-based approaches with quantity-based approaches, and from a practical point of view by looking at concrete examples of how these different instruments have been implemented. The paper concludes that a system of fixed feed-in tariffs is more efficient than a bidding system, but highlights the theoretical interest of green certificate trading which must be confirmed through practice, given the influence of market structures and rules on the performance of this type of approach. (A.L.B.)

  9. State of the art in the estimation of energy prices in the spot market

    International Nuclear Information System (INIS)

    Botero B, Sergio; Cano C, Jovan A

    2007-01-01

    Since the start energy markets deregulation in the world, several spot market (short term) price prediction methods have been developed? this article identifies and compares the main methods of prediction used in Colombia and other international markets. With this review it is possible to determine the state of the knowledge in the specific subject and then to look for the development of new forecasting techniques that can contribute to the solution of this problem. The prediction horizon is something that must be taken into account in the review of the several techniques, given that both the magnitude of the final model of estimation, and the time series treatment type, depend on this horizon.

  10. Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices

    Energy Technology Data Exchange (ETDEWEB)

    Hoen, Ben; Wiser, Ryan; Cappers, Peter; Thayer, Mark; Sethi, Gautam

    2010-04-01

    With an increasing number of communities considering nearby wind power developments, there is a need to empirically investigate community concerns about wind project development. One such concern is that property values may be adversely affected by wind energy facilities, and relatively little research exists on the subject. The present research investigates roughly 7,500 sales of single-family homes surrounding 24 existing U.S. wind facilities. Across four different hedonic models the results are consistent: neither the view of the wind facilities nor the distance of the home to those facilities is found to have a statistically significant effect on home sales prices.

  11. Input price risk and optimal timing of energy investment: choice between fossil- and biofuels

    Energy Technology Data Exchange (ETDEWEB)

    Murto, Pauli; Nese, Gjermund

    2002-05-01

    We consider energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price uncertainty on the choice of technology and the timing of the investment. It is shown that when the choice of technology is irreversible, it may be optimal to postpone the investment even if it would otherwise be optimal to invest in one or both of the plant types. We provide a numerical example based on cost, estimates of two different power plant types. (author)

  12. Input price risk and optimal timing of energy investment: choice between fossil- and biofuels

    International Nuclear Information System (INIS)

    Murto, Pauli; Nese, Gjermund

    2002-01-01

    We consider energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price uncertainty on the choice of technology and the timing of the investment. It is shown that when the choice of technology is irreversible, it may be optimal to postpone the investment even if it would otherwise be optimal to invest in one or both of the plant types. We provide a numerical example based on cost, estimates of two different power plant types. (author)

  13. Decision E92111 re: Alberta Power Limited Edmonton Power TransAlta Utilities Corporation in the matter of a joint application to adjust the price or pricing formula in respect of each consumer group at which electric energy was sold to the Electric Energy Marketing Agency in 1991; and in the matter of the forecast price or pricing formula in respect of each consumer group at which electric energy will be sold to the Electric Energy Marketing Agency in 1993

    Energy Technology Data Exchange (ETDEWEB)

    1992-12-09

    Hearings were held before the Alberta Public Utilities Board to consider price adjustments and pricing formulas for electricity sales to various classes of customers by three Alberta utilities. These utilities (Alberta Power, Edmonton Power, and TransAlta Utilities) sell electricity to the Electric Energy Marketing Agency, which is responsible for ensuring uniform electricity prices across the province. The views of the applicants, the intervenors at the hearings, and the Board are summarized along with the Board decision. Issues considered at the hearings included the components of total electric utility costs of each utility, methods employed by the utilities in the functionalization of costs to upstream and downstream, classification of the upstream costs, allocation of generation and transmission costs to consumer groups, demand at the interface, and full-cost pricing and pricing guidelines for power produced by cogenerators. 6 tabs.

  14. Profit maximization algorithms for utility companies in an oligopolistic energy market with dynamic prices and intelligent users

    Directory of Open Access Journals (Sweden)

    Tiansong Cui

    2016-01-01

    Full Text Available Dynamic energy pricing provides a promising solution for the utility companies to incentivize energy users to perform demand side management in order to minimize their electric bills. Moreover, the emerging decentralized smart grid, which is a likely infrastructure scenario for future electrical power networks, allows energy consumers to select their energy provider from among multiple utility companies in any billing period. This paper thus starts by considering an oligopolistic energy market with multiple non-cooperative (competitive utility companies, and addresses the problem of determining dynamic energy prices for every utility company in this market based on a modified Bertrand Competition Model of user behaviors. Two methods of dynamic energy pricing are proposed for a utility company to maximize its total profit. The first method finds the greatest lower bound on the total profit that can be achieved by the utility company, whereas the second method finds the best response of a utility company to dynamic pricing policies that the other companies have adopted in previous billing periods. To exploit the advantages of each method while compensating their shortcomings, an adaptive dynamic pricing policy is proposed based on a machine learning technique, which finds a good balance between invocations of the two aforesaid methods. Experimental results show that the adaptive policy results in consistently high profit for the utility company no matter what policies are employed by the other companies.

  15. Unconditionally energy stable numerical schemes for phase-field vesicle membrane model

    Science.gov (United States)

    Guillén-González, F.; Tierra, G.

    2018-02-01

    Numerical schemes to simulate the deformation of vesicles membranes via minimizing the bending energy have been widely studied in recent times due to its connection with many biological motivated problems. In this work we propose a new unconditionally energy stable numerical scheme for a vesicle membrane model that satisfies exactly the conservation of volume constraint and penalizes the surface area constraint. Moreover, we extend these ideas to present an unconditionally energy stable splitting scheme decoupling the interaction of the vesicle with a surrounding fluid. Finally, the well behavior of the proposed schemes are illustrated through several computational experiments.

  16. Some Simple Arguments about Cost Externalization and its Relevance to the Price of Fusion Energy

    International Nuclear Information System (INIS)

    Budny, R.; Winfree, R.

    1999-01-01

    The primary goal of fusion energy research is to develop a source of energy that is less harmful to the environment than are the present sources. A concern often expressed by critics of fusion research is that fusion energy will never be economically competitive with fossil fuels, which in 1997 provided 75% of the world's energy. And in fact, studies of projected fusion electricity generation generally project fusion costs to be higher than those of conventional methods. Yet it is widely agreed that the environmental costs of fossil fuel use are high. Because these costs aren't included in the market price, and furthermore because many governments subsidize fossil fuel production, fossil fuels seem less expensive than they really are. Here we review some simple arguments about cost externalization which provide a useful background for discussion of energy prices. The collectively self-destructive behavior that is the root of many environmental problems, including fossil fuel use, was termed ''the tragedy of the commons'' by the biologist G. Hardin. Hardin's metaphor is that of a grazing commons that is open to all. Each herdsman, in deciding whether to add a cow to his herd, compares the benefit of doing so, which accrues to him alone, to the cost, which is shared by all the herdsmen using the commons, and therefore adds his cow. In this way individually rational behavior leads to the collective destruction of the shared resource. As Hardin pointed out, pollution is one kind of tragedy of the commons. CO 2 emissions and global warming are in this sense classic tragedies

  17. On maximizing profit of wind-battery supported power station based on wind power and energy price forecasting

    DEFF Research Database (Denmark)

    Khalid, Muhammad; Aguilera, Ricardo P.; Savkin, Andrey V.

    2017-01-01

    This paper proposes a framework to develop an optimal power dispatch strategy for grid-connected wind power plants containing a Battery Energy Storage System (BESS). Considering the intermittent nature of wind power and rapidly varying electricity market price, short-term forecasting...... Dynamic Programming tool which can incorporate the predictions of both wind power and market price simultaneously as inputs in a receding horizon approach. The proposed strategy is validated using real electricity market price and wind power data in different scenarios of BESS power and capacity...... of these variables is used for efficient energy management. The predicted variability trends in market price assist in earning additional income which subsequently increase the operational profit. Then on the basis of income improvement, optimal capacity of the BESS can be determined. The proposed framework utilizes...

  18. On maximizing profit of wind-battery supported power station based on wind power and energy price forecasting

    DEFF Research Database (Denmark)

    Khalid, Muhammad; Aguilera, Ricardo P.; Savkin, Andrey V.

    2017-01-01

    of these variables is used for efficient energy management. The predicted variability trends in market price assist in earning additional income which subsequently increase the operational profit. Then on the basis of income improvement, optimal capacity of the BESS can be determined. The proposed framework utilizes......This paper proposes a framework to develop an optimal power dispatch strategy for grid-connected wind power plants containing a Battery Energy Storage System (BESS). Considering the intermittent nature of wind power and rapidly varying electricity market price, short-term forecasting...... Dynamic Programming tool which can incorporate the predictions of both wind power and market price simultaneously as inputs in a receding horizon approach. The proposed strategy is validated using real electricity market price and wind power data in different scenarios of BESS power and capacity...

  19. Optimal Operation of Combined Heat and Power System Based on Forecasted Energy Prices in Real-Time Markets

    Directory of Open Access Journals (Sweden)

    Chenghong Gu

    2015-12-01

    Full Text Available This paper develops a discrete operation optimization model for combined heat and powers (CHPs in deregulated energy markets to maximize owners’ profits, where energy price forecasting is included. First, a single input and multi-output (SIMO model for typical CHPs is established, considering the varying ratio between heat and electricity outputs at different loading levels. Then, the energy prices are forecasted with a gray forecasting model and revised in real-time based on the actual prices by using the least squares method. At last, a discrete optimization model and corresponding dynamic programming algorithm are developed to design the optimal operation strategies for CHPs in real-time. Based on the forecasted prices, the potential operating strategy which may produce the maximum profits is pre-developed. Dynamic modification is then conducted to adjust the pre-developed operating strategy after the actual prices are known. The proposed method is implemented on a 1 MW CHP on a typical day. Results show the optimized profits comply well with those derived from real-time prices after considering dynamic modification process.

  20. 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...

  1. Relative intensity noise of temperature-stable, energy-efficient 980 nm VCSELs

    Directory of Open Access Journals (Sweden)

    Hui Li

    2017-02-01

    Full Text Available The relative intensity noise (RIN of temperature-stable, energy-efficient oxide confined vertical-cavity surface-emitting lasers (VCSELs have been investigated. Low energy consumption data transmission is achieved by using small oxide-aperture diameter VCSELs biased at small currents. We demonstrate that energy efficiency is not in conflict with our VCSELs’ RIN characteristics. The experimental results indicate that small oxide-aperture diameter VCSELs, which are most suitable for energy-efficient, temperature-stable operation, exhibit lower laser RIN due to less mode competition inside the smaller optical cavity volume. Our energy-efficient VCSELs fulfill the RIN requirements of the 32G Fibre Channel standard.

  2. The impact of rising energy prices on household energy consumption and expenditure patterns: The Persian Gulf crisis as a case example

    Energy Technology Data Exchange (ETDEWEB)

    Henderson, L.J. [Baltimore Univ., MD (United States); Poyer, D.A.; Teotia, A.P.S. [Argonne National Lab., IL (United States). Energy Systems Div.

    1992-09-01

    The Iraqi invasion of Kuwait and the subsequent war between Iraq and an international alliance led by the United States triggered immediate increases in world oil prices. Increases in world petroleum prices and in US petroleum imports resulted in higher petroleum prices for US customers. In this report, the effects of the Persian Gulf War and its aftermath are used to demonstrate the potential impacts of petroleum price changes on majority, black, and Hispanic households, as well as on poor and nonpoor households. The analysis is done by using the Minority Energy Assessment Model developed by Argonne National Laboratory for the US Department of Energy (DOE). The differential impacts of these price increases and fluctuations on poor and minority households raise significant issues for a variety of government agencies, including DOE. Although the Persian Gulf crisis is now over and world oil prices have returned to their prewar levels, the differential impacts of rising energy prices on poor and minority households as a result of any future crisis in the world oil market remains a significant long-term issue.

  3. Prices versus quantities: choosing policies for promoting the development of renewable energy

    International Nuclear Information System (INIS)

    Menanteau, Philippe; Finon, Dominique; Lamy, Marie-Laure

    2003-01-01

    Now that the risks of climate change have been confirmed and the European States have declared their willingness to pursue ambitious objectives for producing electricity from renewable energy sources, it becomes crucial to take a look at the relative efficiency of the different incentive schemes used. Such schemes may focus on quantities-defining national targets and setting up bidding systems, or quota systems providing for green certificate trading, or they may focus on prices-feed-in tariffs. Clearly, these instruments are much the same as those used in environmental policies, with similar discussion involved in their choice. Whatever the system chosen, the role of the public authorities is quite specific: to stimulate technical progress and speed up the technological learning processes so that ultimately renewable energy technologies will be able to compete with conventional technologies, once the environmental costs have been internalised. A comparison of instruments must thus take into account the characteristics of the innovation process and adoption conditions--uncertainties regarding cost curves, learning effects--which means also looking at dynamic efficiency criteria. The authors examine the efficiency of the different incentive schemes for the development of renewable energy sources, both from a theoretical point of view by comparing price-based approaches with quantity-based approaches, and from a practical point of view by looking at concrete examples of how these different instruments have been implemented. The paper concludes that a system of feed-in tariffs is more efficient than a bidding system, but highlights the theoretical interest of green certificate trading which must be confirmed through practice, given the influence of market structures and rules on the performance of this type of approach

  4. United States Department of Energy New Jersey Department of Environmental Protection and Energy. 1991 - 1992 Heating Oil and Propane Price Monitoring Program

    International Nuclear Information System (INIS)

    1998-01-01

    In cooperation with the United States Department of Energy (USDOE), Energy Information Administration (EIA) the New Jersey Department of Environmental Protection and Energy (DEPE), Office of Energy participated in a program to monitor retail prices of no. 2 heating oil and propane in New Jersey. According to program instructions, we conducted price surveys on a semi-monthly basis to obtain the necessary information from retail fuel merchants and propane dealers identified by the EIA. The period of the surveys was October 7, 1991 to March 16 1992. We submitted data collected as of specified reference dates to the EIA, within two working days of those dates

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

    International Nuclear Information System (INIS)

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

    2016-01-01

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

  6. An Analysis of the Effects of Photovoltaic Energy Systems on Residential Selling Prices in California.

    Energy Technology Data Exchange (ETDEWEB)

    Cappers, Peter; Wiser, Ryan; Thayer, Mark; Hoen, Ben

    2011-04-12

    An increasing number of homes with existing photovoltaic (PV) energy systems have sold in the U.S., yet relatively little research exists that estimates the marginal impacts of those PV systems on the sales price. A clearer understanding of these effects might influence the decisions of homeowners, home buyers and PV home builders. This research analyzes a large dataset of California homes that sold from 2000 through mid-2009 with PV installed. Across a large number of hedonic and repeat sales model specifications and robustness tests, the analysis finds strong evidence that homes with PV systems sold for a premium over comparable homes without. The effects range, on average, from approximately $3.9 to $6.4 per installed watt (DC), with most models coalescing near $5.5/watt, which corresponds to a premium of approximately $17,000 for a 3,100 watt system. The research also shows that, as PV systems age, the premium enjoyed at the time of home sale decreases. Additionally, existing homes with PV systems are found to have commanded a larger sales price premium than new homes with similarly sized PV systems. Reasons for this discrepancy are suggested, yet further research is warranted in this area as well as a number of other areas that are highlighted.

  7. Impacts from new 50 MW wind power plant - Bogdnaci on the price of electrical energy in Macedonia

    International Nuclear Information System (INIS)

    Minovski, D.; Sarac, V.; Causevski, A.

    2012-01-01

    The paper presents the impact from the new planned wind power plant Bogdnaci on the price for the end users of electrical energy in Republic of Macedonia. In the next years, 50 MW wind power will be installed in the Macedonian electric power system. Production of electricity from wind power plants is unpredictable and of stochastic nature i.e. depends on the weather or the wind speed at the appropriate locations. Output of wind power plants is changing every minute, thus changing in the hourly level can be from 0 - 100%, even several times depending on the occurrence of winds. Changes in output of wind power plants, leads to increased demand for operational reserve in a power system. Preferential price of electrical energy from the wind power plants and increased operational reserve in the electric power system will have big impact on the final price of electrical energy in Republic of Macedonia. (Authors)

  8. 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.

  9. Impact of natural gas prices on Saskatchewan residential consumers : A report prepared for SaskEnergy

    International Nuclear Information System (INIS)

    1998-07-01

    Major trends in the natural gas industry, including deregulation and the impact of natural gas commodity competition on consumers, and SaskEnergy's current and historical residential rate structures were reviewed. The object of the exercise was to provide the Utility (i.e. SaskEnergy) with independent advice on the proposed changes to rate structures and billing practices for residential customers in Saskatchewan. It was concluded that SaskEnergy 's historical and current rate methodologies are consistent with generally accepted practices in the natural gas industry. The proposed changes to rate structures and billing practices to unbundle the gas commodity from delivery services is an important step in the evolution of competition in the supply of natural gas. Customers will not only have more choice in terms of supplier, they will be able to have a better understanding of both the impact of volatile commodity prices and any changes in the cost of delivery services on rates charged by SaskEnergy

  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. Assessing the impact of changes in the electricity price structure on dairy farm energy costs

    International Nuclear Information System (INIS)

    Upton, J.; Murphy, M.; Shalloo, L.; Groot Koerkamp, P.W.G.; De Boer, I.J.M.

    2015-01-01

    Highlights: • Choosing electricity tariffs with a low off-peak rate results in financial savings. • Cost saving potential within an electricity tariff is the greatest on large farms. • Earlier AM milking with later PM milking helps reduce electricity consumption. - Abstract: This study aims to provide information on the changes in electricity consumption and costs on dairy farms, through the simulation of various electricity tariffs that may exist in the future and how these tariffs interact with changes in farm management (i.e. shifting the milking operation to an earlier or later time of the day). A previously developed model capable of simulating electricity consumption and costs on dairy farms (MECD) was used to simulate five different electricity tariffs (Flat, Day and Night, Time of Use Tariff 1 (TOU1), TOU2 and Real Time Pricing (RTP)) on three representative Irish dairy farms: a small farm (SF), a medium farm (MF) and a large farm (LF). The Flat tariff consisted of one electricity price for all time periods, the Day and Night tariff consisted of two electricity prices, a high rate from 09:00 to 00:00 h and a low rate thereafter. The TOU tariff structure was similar to that of the Day and Night tariff except that a peak price band was introduced between 17:00 and 19:00 h. The RTP tariff varied dynamically according to the electricity demand on the national grid. The model used in these simulations was a mechanistic mathematical representation of the electricity consumption that simulated farm equipment under the following headings; milk cooling system, water heating system, milking machine system, lighting systems, water pump systems and the winter housing facilities. The effect of milking start time was simulated to determine the effect on electricity consumption and costs at farm level. The earliest AM milking start time and the latest PM milking start time resulted in the lowest energy consumption. The difference between the lowest and highest

  12. Price elasticity of the demand for soft drinks, other sugar-sweetened beverages and energy dense food in Chile

    Directory of Open Access Journals (Sweden)

    Carlos M. Guerrero-López

    2017-02-01

    Full Text Available Abstract Background Chile is the second world’s largest per capita consumer of caloric beverages. Caloric beverages are associated with overweight, obesity and other chronic diseases. The objective of this study is to estimate the price elasticity of demand for soft drinks, other sugar-sweetened beverages and high-energy dense foods in urban areas in Chile in order to evaluate the potential response of households’ consumption to changes in prices. Methods We used microdata from the VII Family Budget Survey 2012–2013, which collects information on expenditures made by Chilean urban households on items such as beverages and foods. We estimated a Linear Approximation of an Almost Ideal Demand System Model to derive own and cross price elasticities of milk, coffee, tea and other infusions, plain water, soft drinks, other flavored beverages, sweet snacks, sugar and honey, and desserts. We considered the censored nature of the data and included the Inverse Mills Ratio in each equation of the demand system. We estimated a Quadratic Almost Ideal Demand System and a two-part model as sensitivity analysis. Results We found an own price-elasticity of −1.37 for soft drinks. This implies that a price increase of 10% is associated with a reduction in consumption of 13.7%. We found that the rest of food and beverages included in the demand system behave as substitutes for soft drinks. For instance, plain water showed a cross-price elasticity of 0.63: a 10% increase in price of soft drinks could lead to an increase of 6.3% of plain water. Own and cross price elasticities were similar between models. Conclusions The demand of soft drinks is price sensitive among Chilean households. An incentive system such as subsidies to non-sweetened beverages and tax to soft drinks could lead to increases in the substitutions for other healthier beverages.

  13. Price elasticity of the demand for soft drinks, other sugar-sweetened beverages and energy dense food in Chile.

    Science.gov (United States)

    Guerrero-López, Carlos M; Unar-Munguía, Mishel; Colchero, M Arantxa

    2017-02-10

    Chile is the second world's largest per capita consumer of caloric beverages. Caloric beverages are associated with overweight, obesity and other chronic diseases. The objective of this study is to estimate the price elasticity of demand for soft drinks, other sugar-sweetened beverages and high-energy dense foods in urban areas in Chile in order to evaluate the potential response of households' consumption to changes in prices. We used microdata from the VII Family Budget Survey 2012-2013, which collects information on expenditures made by Chilean urban households on items such as beverages and foods. We estimated a Linear Approximation of an Almost Ideal Demand System Model to derive own and cross price elasticities of milk, coffee, tea and other infusions, plain water, soft drinks, other flavored beverages, sweet snacks, sugar and honey, and desserts. We considered the censored nature of the data and included the Inverse Mills Ratio in each equation of the demand system. We estimated a Quadratic Almost Ideal Demand System and a two-part model as sensitivity analysis. We found an own price-elasticity of -1.37 for soft drinks. This implies that a price increase of 10% is associated with a reduction in consumption of 13.7%. We found that the rest of food and beverages included in the demand system behave as substitutes for soft drinks. For instance, plain water showed a cross-price elasticity of 0.63: a 10% increase in price of soft drinks could lead to an increase of 6.3% of plain water. Own and cross price elasticities were similar between models. The demand of soft drinks is price sensitive among Chilean households. An incentive system such as subsidies to non-sweetened beverages and tax to soft drinks could lead to increases in the substitutions for other healthier beverages.

  14. Tendances Carbone no. 100. Energy Transition: yes to renewable energies, but at what price?

    International Nuclear Information System (INIS)

    Cruciani, Michel

    2015-03-01

    Among the publications of CDC Climat Research, 'Tendances Carbone' bulletin specifically studies the developments of the European market for CO 2 allowances. Beside some statistical figures about energy production/consumption and carbon markets, this issue specifically addresses the following points: - EU ETS - MSR timetable: EU Latvian Presidency received from the Committee of Permanent Representatives of the Member States a mandate to open tripartite negotiations between Parliament, the Council and the European Commission. - Energy Union - On 25 February, the EU Commission released its Energy Union Strategy, focusing on a new legislation to redesign the electricity market. - On 25 February, the Commission released the EU's vision for the COP 21, calling for a transparent and dynamic legally binding agreement, containing fair and ambitious commitments from all Parties

  15. World energy 2007: an increase of consumptions in spite of the flight of prices

    International Nuclear Information System (INIS)

    Martin-Amouroux, J.M.

    2008-01-01

    At the end of the year 2007, the energy prices have continued to increase. Compared with 2006 (2.4%), the world primary consumption has increased (2.8%), as well as those of the electric power: (3.7%) to (4.5%), whereas the GDP (gross domestic product) has not changed. The emergent economies have still taken the greatest part of this growth, but for them, as for the OECD member countries, the year 2007 presents some particularities. The North America is hard at restraining the increase of its consumption. Asia, is always at the first place of the emergent economies but is not alone. The flame thermics is gaining ground in the world electric production. Between the fossil fuels, coal is gaining gas and still more petroleum. Concerning CO 2 , the increase is continuing. (O.M.)

  16. Account for sector heterogeneity in China's energy consumption. Sector price indices vs. GDP deflator

    International Nuclear Information System (INIS)

    Ma, Chunbo

    2010-01-01

    A common practice in decomposition analyses is to deflate output indicators to purge the impact of inflation by using a general deflator. This practice fails to account for sector heterogeneity and can be hazardous. Although the general identified patterns are largely correct, the calculated magnitudes can be misleading or even wrongly signed. Instead, it is strongly recommended that sector heterogeneity is accounted for by using individual sector price indices for all relevant sectors instead of one general (GDP) deflator. This paper analyzes this advanced decomposition using Chinese data and compares to the usual method of using only one deflator. It is found that while most differences are only of quantitative quality, some show even a qualitative difference. Furthermore, the rising energy intensity in the early 2000s, which has been discussed by previous studies, vanishes completely. (author)

  17. 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

  18. Electromagnetic separation of stable isotopes at the Institute of Atomic Energy, Academia Sinica

    International Nuclear Information System (INIS)

    Hua, M.; Li, G.; Su, S.; Mao, N.; Lu, H.

    1981-01-01

    For almost 20 years the Institute of Atomic Energy, Academia Sinica has been separating stable isotopes of the elements by electromagnetic separators and supplying these materials to research work in many fields of our country. In this article we shall attempt to outline the growth of the effort and describe the present situation. (orig.)

  19. Returns on investments in energy-saving technologies under energy price uncertainty in Dutch greenhouse horticulture

    NARCIS (Netherlands)

    Diederen, P.J.M.; Tongeren, van F.W.; Veen, van der H.B.

    2003-01-01

    Conventional net present value calculations evaluating the profitability of investments in energy-saving technologies in Dutch horticultural outlays predict a much higher rate of adoption of these technologies than is actually observed. This paper tries to explain this gap by applying a real options

  20. Energy tax price tag for CPI: $1.2 billion, jobs, and production

    International Nuclear Information System (INIS)

    Begley, R.

    1993-01-01

    If President Clinton's proposed energy tax had been fully in place last year, it would have cost the US chemical industry an additional $1.2 billion and 9,900 jobs, according to Chemical Manufacturers Association (CMA; Washington) estimates. It also would have driven output down 3% and prices up 5%, CMA says. Allen Lenz, CMA director/trade and economics, says the increase in production costs that would accompany the tax will not be shared by foreign competitors, cannot be neutralized with higher border taxes because of existing trade agreements, and provides another reason to move production offshore. Worse, the US chemical industry's generally impressive trade surplus declined by $2.5 billion last year, and a further drop is projected for this year. The margin of error gets thinner all the time as competition increases, Lenz says. We're not concerned only with the chemical industry, but the rest of US-based manufacturing because they taken half our output, he adds. One problem is the energy intensiveness of the chemical process industries-a CMA report says that 55% of the cost of producing ethylene glycol is energy related. And double taxation of such things as coproducts returned for credit to oil refineries could add up to $115 million/year, the report says

  1. Threshold effect of the economic growth rate on the renewable energy development from a change in energy price. Evidence from OECD countries

    International Nuclear Information System (INIS)

    Chang, Ting-Huan; Huang, Chien-Ming; Lee, Ming-Chih

    2009-01-01

    This paper uses a panel threshold regression (PTR) model to investigate the influence that energy prices have on renewable energy development under different economic growth rate regimes. The empirical data are obtained from each of the OECD member-countries over the period from 1997 to 2006. We show that there is one threshold in the regression relationship, which is 4.13% of a one-period lag in the annual gross domestic product (GDP) growth rate. The consumer price index (CPI), in so far as it relates to variations in energy, is significantly positively correlated with the contribution of renewables to energy supply in the regime with higher-economic growth, but there is no relationship in the regime with lower economic growth. Therefore, countries characterized by high-economic growth are able to respond to high energy prices with increases in renewable energy use, while countries characterized by low-economic growth countries tend to be unresponsive to energy price changes when they come to their level of renewable energy. (author)

  2. Threshold effect of the economic growth rate on the renewable energy development from a change in energy price. Evidence from OECD countries

    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, Taipei County 251 (China); Huang, Chien-Ming; Lee, Ming-Chih [Department of Banking and Finance, Tamkang University, Taipei County 251 (China)

    2009-12-15

    This paper uses a panel threshold regression (PTR) model to investigate the influence that energy prices have on renewable energy development under different economic growth rate regimes. The empirical data are obtained from each of the OECD member-countries over the period from 1997 to 2006. We show that there is one threshold in the regression relationship, which is 4.13% of a one-period lag in the annual gross domestic product (GDP) growth rate. The consumer price index (CPI), in so far as it relates to variations in energy, is significantly positively correlated with the contribution of renewables to energy supply in the regime with higher-economic growth, but there is no relationship in the regime with lower economic growth. Therefore, countries characterized by high-economic growth are able to respond to high energy prices with increases in renewable energy use, while countries characterized by low-economic growth countries tend to be unresponsive to energy price changes when they come to their level of renewable energy. (author)

  3. Threshold effect of the economic growth rate on the renewable energy development from a change in energy price: Evidence from OECD countries

    Energy Technology Data Exchange (ETDEWEB)

    Chang, T.-H. [Energy and Environment Research Laboratories, Industrial Technology Research Institute, Hsinchu County 310, Taiwan (China); Department of Banking and Finance, Tamkang University, Taipei County 251, Taiwan (China); Huang, C.-M., E-mail: 896530069@s96.tku.edu.t [Department of Banking and Finance, Tamkang University, Taipei County 251, Taiwan (China); Lee, M.-C. [Department of Banking and Finance, Tamkang University, Taipei County 251, Taiwan (China)

    2009-12-15

    This paper uses a panel threshold regression (PTR) model to investigate the influence that energy prices have on renewable energy development under different economic growth rate regimes. The empirical data are obtained from each of the OECD member-countries over the period from 1997 to 2006. We show that there is one threshold in the regression relationship, which is 4.13% of a one-period lag in the annual gross domestic product (GDP) growth rate. The consumer price index (CPI), in so far as it relates to variations in energy, is significantly positively correlated with the contribution of renewables to energy supply in the regime with higher-economic growth, but there is no relationship in the regime with lower economic growth. Therefore, countries characterized by high-economic growth are able to respond to high energy prices with increases in renewable energy use, while countries characterized by low-economic growth countries tend to be unresponsive to energy price changes when they come to their level of renewable energy.

  4. Energy Stable Flux Formulas For The Discontinuous Galerkin Discretization Of First Order Nonlinear Conservation Laws

    Science.gov (United States)

    Barth, Timothy; Charrier, Pierre; Mansour, Nagi N. (Technical Monitor)

    2001-01-01

    We consider the discontinuous Galerkin (DG) finite element discretization of first order systems of conservation laws derivable as moments of the kinetic Boltzmann equation. This includes well known conservation law systems such as the Euler For the class of first order nonlinear conservation laws equipped with an entropy extension, an energy analysis of the DG method for the Cauchy initial value problem is developed. Using this DG energy analysis, several new variants of existing numerical flux functions are derived and shown to be energy stable.

  5. An energy-stable generalized- α method for the Swift–Hohenberg equation

    KAUST Repository

    Sarmiento, Adel

    2017-11-16

    We propose a second-order accurate energy-stable time-integration method that controls the evolution of numerical instabilities introducing numerical dissipation in the highest-resolved frequencies. Our algorithm further extends the generalized-α method and provides control over dissipation via the spectral radius. We derive the first and second laws of thermodynamics for the Swift–Hohenberg equation and provide a detailed proof of the unconditional energy stability of our algorithm. Finally, we present numerical results to verify the energy stability and its second-order accuracy in time.

  6. Impacts of Variable Renewable Energy on Bulk Power System Assets, Pricing, and Costs

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan H. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Mills, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Seel, Joachim [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Levin, Todd [Argonne National Lab. (ANL), Argonne, IL (United States); Botterud, Audun [Argonne National Lab. (ANL), Argonne, IL (United States)

    2017-11-29

    We synthesize available literature, data, and analysis on the degree to which growth in variable renewable energy (VRE) has impacted to date or might in the future impact bulk power system assets, pricing, and costs. We do not analyze impacts on specific power plants, instead focusing on national and regional system-level trends. The issues addressed are highly context dependent—affected by the underlying generation mix of the system, the amount of wind and solar penetration, and the design and structure of the bulk power system in each region. Moreover, analyzing the impacts of VRE on the bulk power system is a complex area of research and there is much more to be done to increase understanding of how VRE impacts the dynamics of current and future electricity markets. While more analysis is warranted, including additional location-specific assessments, several high-level findings emerge from this synthesis: -VRE Is Already Impacting the Bulk Power Market -VRE Impacts on Average Wholesale Prices Have Been Modest -VRE Impacts on Power Plant Retirements Have So Far Been Limited -VRE Impacts on the Bulk Power Market will Grow with Penetration -The ’System Value’ of VRE will Decline with Penetration -Power System Flexibility Can Reduce the Rate of VRE Value Decline All generation types are unique in some respect—bringing benefits and challenges to the power system—and wholesale markets, industry investments, and operational procedures have evolved over time to manage the characteristics of a changing generation fleet. With increased VRE penetrations, power system planners, operators, regulators, and policymakers will continue to be challenged to develop methods to smoothly and cost-effectively manage the reliable integration of these new and growing sources of electricity supply.

  7. A co-integration analysis of the price and income elasticities of energy demand in Turkish agriculture

    International Nuclear Information System (INIS)

    Tuerkekul, Berna; Unakitan, Goekhan

    2011-01-01

    Agriculture has an important role in every country's development. Particularly, the contribution of agriculture to development and competitiveness is increasing with agricultural productivity growth. Productivity, in turn, is closely associated with direct and indirect use of energy as an input. Therefore, the importance of energy in agriculture cannot be denied as one of the basic inputs to the economic growth process. Following the importance of energy in Turkish agriculture, this study aims to estimate the long- and short-run relationship of energy consumption, agricultural GDP, and energy prices via co-integration and error correction (ECM) analysis. Annual data from 1970 to 2008 for diesel and electricity consumptions are utilized to estimate long-run and short-run elasticities. According to ECM analysis, for the diesel demand model, the long-run income and price elasticities were calculated as 1.47 and -0.38, respectively. For the electricity demand model, income and price elasticities were calculated at 0.19 and -0.72, respectively, in the long run. Briefly, in Turkey, support for energy use in agriculture should be continued in order to ensure sustainability in agriculture, increase competitiveness in international markets, and balance farmers' income. - Research highlights: → We estimate the long and short run elasticities for diesel and electricity demands in agriculture. → The long-run income and price elasticities calculated as 1.47 and 0.38, respectively for diesel. → The long run Income and price elasticities calculated as 0.19 and 0.72 for electricity.

  8. Economic potential of energy-efficient retrofitting in the Swiss residential building sector: The effects of policy instruments and energy price expectations

    International Nuclear Information System (INIS)

    Amstalden, Roger W.; Kost, Michael; Nathani, Carsten; Imboden, Dieter M.

    2007-01-01

    The aim of this paper is to analyse the profitability of energy-efficient retrofit investments in the Swiss residential building sector from the house owner's perspective. Different energy price expectations, policy instruments such as subsidies, income tax deduction and a carbon tax, as well as potential future cost degression of energy efficiency measures were taken into account. The discounted cash flow method was used for the investment analysis of different retrofit packages applied to a model building scheduled for renovation, i.e. a single-family house constructed between 1948 and 1975. The results show that present Swiss policy instruments push investments for energy-efficient retrofitting to profitability. Cost degression has a minor significance for investment profitability. However, the most relevant factor for the investment analysis is the expected energy price. Expecting a future fuel oil price at the level of 2005, efficiency investments are close to profitability even without policy support. If higher energy prices were expected, energy-efficient retrofitting would be an attractive investment opportunity

  9. Will the rising price of energy push us over the cliff

    Energy Technology Data Exchange (ETDEWEB)

    Levy-Pascal, E.

    1979-12-01

    The author, a former CIA analyst, examines the long-term economic cycles and their accompanying societal cycles identified by Kondratieff and others, and predicts worldwide social and political changes as the end of the technological age approaches. Rapidly rising energy prices will trigger a period of migration to warmer climates and into urban areas, he predicts; and there will be expansion in the public share of the transportation sector and a decline in energy-intensive activities. The 20-year Kondratieff Cycle begins with technical invention, but the changes it triggers are resisted by the political system until accomodation occurs at the end of the cycle. An economic slump is caused by this delay until capital is again invested in new ideas. This stretches the full cycle to 50 years. Simulations of the full cycle are made to see if modifications caused by deliberate interference are feasible, but are found to be inconclusive. Major new policy directions may result from the projected upheavals. (DCK)

  10. A TOU Pricing Mechanism to Promote Renewable Energy Consumption: The Case of the Western Inner Mongolia Grid in China

    Directory of Open Access Journals (Sweden)

    Yong-xiu He

    2017-01-01

    Full Text Available The curtailment of wind power and photovoltaic power is becoming increasingly serious from the year 2012 to present in China. And the small installed capacity captive coal-fired power plants have been developed rapidly aiming to cut production costs. Therefore, by the substitution of renewable energy for captive coal-fired power plants, this paper establishes a time-of-use (TOU pricing mechanism with a linkage between the supply side and the demand side to promote renewable energy consumption, which is applied to the Western Inner Mongolia grid in China. The results show that the benefits to the grid company, electricity users, renewable energy producers, and social environment are influenced by the quantity of renewable energy purchased in the market, the market price for renewable energy, the quantity of electricity from grid to peak shaving, the carbon price, and the quantity of electricity generated by captive coal-fired power plants shifting to grid, in which the first factor has the greatest influence on the benefits of stakeholders. Furthermore, improving the accuracy of renewable energy generation forecast and optimizing using electricity behaviors by considering the renewable energy generation characteristics could ensure the TOU mechanism implementation successfully.

  11. A Quantitative Analysis of the Impact of Wind Energy Penetration on Electricity Prices in Ireland

    OpenAIRE

    O'Flaherty, Micheál; Riordan, Niall; O'Neill, Noel; Ahern, Ciara

    2014-01-01

    The maturity of wind technology combined with availability of suitable sites means Ireland is on course to generate 40% of its electricity from the wind by 2020.This work sets out to quantify, to what degree, if any, increased wind penetration translates into reduced wholesale and retail prices for electricity. The consensus from the literature is that increasing wind penetration reduces wholesale electricity prices, but views vary as to what degree this translates into reduced retail prices ...

  12. Practical operation strategies for pumped hydroelectric energy storage (PHES) utilising electricity price arbitrage

    DEFF Research Database (Denmark)

    Connolly, David; Lund, Henrik; Finn, P.

    2011-01-01

    -ahead electricity prices must be the actual prices which the PHES facility is charged or the PHES operator must have very accurate price predictions. Otherwise, the predicted profit could be significantly reduced and even become a loss. Finally, using the 24Optimal strategy, the PHES profit can surpass the annual......, and a suitable electricity market, PHES is a risky investment without a more predictable profit....

  13. 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

  14. An energy-stable finite-difference scheme for the binary fluid-surfactant system

    Science.gov (United States)

    Gu, Shuting; Zhang, Hui; Zhang, Zhengru

    2014-08-01

    We present an unconditionally energy stable finite-difference scheme for the binary fluid-surfactant system. The proposed method is based on the convex splitting of the energy functional with two variables. Here are two distinct features: (i) the convex splitting energy method is applied to energy functional with two variables, and (ii) the stability issue is related to the decay of the corresponding energy. The full discrete scheme leads to a decoupled system including a linear sub-system and a nonlinear sub-system. Algebraic multigrid and Newton-multigrid methods are adopted to solve the linear and nonlinear systems, respectively. Numerical experiments are shown to verify the stability of such a scheme.

  15. Estimating the impact of wind generation and wind forecast errors on energy prices and costs in Ireland

    OpenAIRE

    Swinand, Gregory P; O'Mahoney, Amy

    2014-01-01

    This paper studies the impact of wind generation on system costs and prices in Ireland. The need to mitigate climate change, achieve renewables energy targets, and use renewable sources of energy means that many countries are considering greater levels of wind generation in their power generation mix. The overall impact of wind generation on system costs and performance has only been studied recently, and often with limited actual data from power systems with increased wind penetration. The p...

  16. On the global economic potentials and marginal costs of non-renewable resources and the price of energy commodities

    International Nuclear Information System (INIS)

    Mercure, Jean-François; Salas, Pablo

    2013-01-01

    A model is presented in this work for simulating endogenously the evolution of the marginal costs of production of energy carriers from non-renewable resources, their consumption, depletion pathways and timescales. Such marginal costs can be used to simulate the long term average price formation of energy commodities. Drawing on previous work where a global database of energy resource economic potentials was constructed, this work uses cost distributions of non-renewable resources in order to evaluate global flows of energy commodities. A mathematical framework is given to calculate endogenous flows of energy resources given an exogenous commodity price path. This framework can be used in reverse in order to calculate an endogenous marginal cost of production of energy carriers given an exogenous carrier demand. Using rigid price inelastic assumptions independent of the economy, these two approaches generate limiting scenarios that depict extreme use of natural resources. This is useful to characterise the current state and possible uses of remaining non-renewable resources such as fossil fuels and natural uranium. The theory is however designed for use within economic or technology models that allow technology substitutions. In this work, it is implemented in the global power sector model FTT:Power. Policy implications are given. - Highlights: • Theoretical model to forecast marginal costs of non-renewable resources. • Tracks the consumption and costs of non-renewable resources. • For use in economic or technology models

  17. Exploring the impact of co-varying water availability and energy price on productivity and profitability of Alpine hydropower

    Science.gov (United States)

    Anghileri, Daniela; Botter, Martina; Castelletti, Andrea; Burlando, Paolo

    2016-04-01

    Alpine hydropower systems are experiencing dramatic changes both from the point of view of hydrological conditions, e.g., water availability and frequency of extremes events, and of energy market conditions, e.g., partial or total liberalization of the market and increasing share of renewable power sources. Scientific literature has, so far, mostly focused on the analysis of climate change impacts and associated uncertainty on hydropower operation, underlooking the consequences that socio-economic changes, e.g., energy demand and/or price changes, can have on hydropower productivity and profitability. In this work, we analyse how hydropower reservoir operation is affected by changes in both water availability and energy price. We consider stochastically downscaled climate change scenarios of precipitation and temperature to simulate reservoir inflows using a physically explicit hydrological model. We consider different scenarios of energy demand and generation mix to simulate energy prices using an electricity market model, which includes different generation sources, demand sinks, and features of the transmission lines. We then use Multi-Objective optimization techniques to design the operation of hydropower reservoirs for different purposes, e.g. maximization of revenue and/or energy production. The objective of the work is to assess how the tradeoffs between the multiple operating objectives evolve under different co-varying climate change and socio-economic scenarios and to assess the adaptive capacity of the system. The modeling framework is tested on the real-world case study of the Mattmark reservoir in Switzerland.

  18. 76 FR 9696 - Equipment Price Forecasting in Energy Conservation Standards Analysis

    Science.gov (United States)

    2011-02-22

    ... sufficient savings to warrant delaying or altering purchases (e.g. an inefficient ventilation fan in a new... prices and costs may, in many cases, over- estimate long-term appliance and equipment price trends... in fact trend downward over time according to ``learning'' or ``experience'' curves. A draft paper...

  19. Welfare Effects of Higher Energy and Food Prices in Botswana: A ...

    African Journals Online (AJOL)

    emerging market economies those contributing to higher food prices include global warming and the shift to foodgrain-fed ... distribution, employment and households' welfare. It also has a virtue over .... Inter-industry channel explains, for instance, 80 percent of the P3.24 increase in producer price of the non- diamonds ...

  20. Renewable energy and negative externalities: the effect of wind turbines on house prices

    NARCIS (Netherlands)

    Dröes, M.I.; Koster, H.R.A.

    2014-01-01

    In many countries, wind turbines are constructed as part of a strategy to reduce dependence on fossil fuels. In this paper, we measure the external effect of wind turbines on the transaction prices of nearby houses. A unique house price dataset covering the period 1985-2011 is used, including the

  1. 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

  2. Price models of electrical energy, via stochastic processes; Modelos de precios de energia electrica, via procesos estocasticos

    Energy Technology Data Exchange (ETDEWEB)

    Hernandez Ramos, Hugo

    2008-12-15

    The electrical energy prices own very particular characteristics that make them different from the prices of any good which are immersed under the fluctuation of the laws of supply and demand. The present work proposes a revision and modification of the model for the prices of electrical energy based on stochastic processes, developed in 2002 by M.T. Barlow. Our model satisfactorily explains the dynamics of the prices, having as an example the case of the energy market of Alberta, CA. The proposed model is based on the power transformation of Yeo-Johnson in 2000, which does not have dominion restrictions. Also, it is assumed that the energy price depends on the demand, which is modeled as a process of Ornstein-Uhlenbeck. The proposed model was applied to real data, obtaining corresponding estimations of the interest parameters, as well as their validation. Also simulation results are shown to determine the empirical distribution of the estimators of maximum credibility of the parameters. [Spanish] Los precios de energia electrica poseen caracteristicas muy particulares que los hacen diferentes a los precios de cualquier bien que estan inmersos bajo la fluctuacion de las leyes de la oferta y la demanda. El presente trabajo propone una revision y modificacion del modelo para los precios de energia electrica basado en procesos estocasticos, desarrollado en 2002 por M. T. Barlow. Nuestro modelo explica satisfactoriamente la dinamica de los precios, teniendo como ejemplo el caso del mercado de energia de Alberta, Ca. El modelo propuesto esta basado en la transformacion potencia de Yeo-Johnson en 2000, la cual no tiene restricciones de dominio. Tambien, se asume que el precio de la energia depende de la demanda, la cual es modelada como un proceso de Ornstein-Uhlenbeck. El modelo propuesto se aplico a datos reales, obteniendo estimaciones correspondientes de los parametros de interes, asi como su validacion. Tambien se muestran resultados de simulacion para determinar la

  3. Effects of the uncertainty of energy price and water availability forecasts on the operation of Alpine hydropower reservoir systems

    Science.gov (United States)

    Anghileri, D.; Castelletti, A.; Burlando, P.

    2016-12-01

    European energy markets have experienced dramatic changes in the last years because of the massive introduction of Variable Renewable Sources (VRSs), such as wind and solar power sources, in the generation portfolios in many countries. VRSs i) are intermittent, i.e., their production is highly variable and only partially predictable, ii) are characterized by no correlation between production and demand, iii) have negligible costs of production, and iv) have been largely subsidized. These features result in lower energy prices, but, at the same time, in increased price volatility, and in network stability issues, which pose a threat to traditional power sources because of smaller incomes and higher maintenance costs associated to a more flexible operation of power systems. Storage hydropower systems play an important role in compensating production peaks, both in term of excess and shortage of energy. Traditionally, most of the research effort in hydropower reservoir operation has focused on modeling and forecasting reservoir inflow as well as designing reservoir operation accordingly. Nowadays, price variability may be the largest source of uncertainty in the context of hydropower systems, especially when considering medium-to-large reservoirs, whose storage can easily buffer small inflow fluctuations. In this work, we compare the effects of uncertain inflow and energy price forecasts on hydropower production and profitability. By adding noise to historic inflow and price trajectories, we build a set of synthetic forecasts corresponding to different levels of predictability and assess their impact on reservoir operating policies and performances. The study is conducted on different hydropower systems, including storage systems and pumped-storage systems, with different characteristics, e.g., different inflow-capacity ratios. The analysis focuses on Alpine hydropower systems where the hydrological regime ranges from purely ice and snow-melt dominated to mixed snow

  4. Natural gas pricing policy: the case of the Greek energy market

    International Nuclear Information System (INIS)

    Caloghirou, Y.; Mourelatos, A.; Papayannakis, L.

    1995-01-01

    The evolution of the price of natural gas (NG) is examined in industrial and tertiary residential sectors for European Union (EU) countries. The methodological approach is that of comparative analysis. NG price is seen to be positively correlated to prices of liquid fuels. NG price in the tertiary residential sector is significantly higher than that for the industrial sector for all countries examined. An attempt is undertaken to examine tax policies for NG and liquid fuels. All governments of EU countries have the policy of not applying direct taxes to the NG industrial price. They have also taken measures to support its penetration in the residential tertiary sector by applying lower taxes than those on liquid fuels. (author)

  5. Impact of electricity prices and volumetric water allocation on energy and groundwater demand management: analysis from Western India

    International Nuclear Information System (INIS)

    Kumar, M.D.

    2005-01-01

    In recent years, power tariff policy has been increasingly advocated as a mean to influence groundwater use and withdrawal decisions of farmers in view of the failure of existing direct and indirect regulations on groundwater withdrawal in India. Many researchers argue that pro rata electricity tariff, with built in positive marginal cost of pumping could bring about efficient use of the resource, though some argue that the levels of tariff in which demand becomes elastic to pricing are too high to be viable from political and socio-economic points of view. The paper presents a theoretical model to analyze farmers' response to changes in power tariff and water allocation regimes vis a vis energy and groundwater use. It validates the model by analyzing water productivity in groundwater irrigation under different electricity pricing structures and water allocation regimes. Water productivity was estimated using primary data of gross crop inputs, cost of all inputs, and volumetric water inputs. The analysis shows that unit pricing of electricity influences groundwater use efficiency and productivity positively. It also shows that the levels of pricing at which demand for electricity and groundwater becomes elastic to tariff are socio-economically viable. Further, water productivity impacts of pricing would be highest when water is volumetrically allocated with rationing. Therefore, an effective power tariff policy followed by enforcement of volumetric water allocation could address the issue of efficiency, sustainability and equity in groundwater use in India

  6. 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)

  7. Going beyond best technology and lowest price: on renewable energy investors’ preference for service-driven business models

    International Nuclear Information System (INIS)

    Loock, Moritz

    2012-01-01

    Renewable energy is becoming increasingly important for economies in many countries. But still in an emerging industry, renewable energy requires supportive energy policy helping firms to develop and protect competitive advantages in global competition. As a guideline for designing such policy, we consult well-informed stakeholders within the renewable energy industry: investors. Their preferences serve as explorative indicator for assessing which business models might succeed in competition. To contribute to only limited research on renewable energy investors’ preferences, we ask, which business models investment managers for renewable energy prefer to invest in. We report from an explorative study of 380 choices of renewable energy investment managers. Based on the stated preferences, we modelled three generic business models to calculate the share of investors’ preferences. We find exiting evidence: a “customer intimacy” business model that proposes best services is much more preferred by investors than business models that propose lowest price or best technology. Policy-makers can use those insights for designing policy that supports service-driven business models for renewable energy with a scope on customer needs rather than technology or price. Additionally, we state important implications for renewable energy entrepreneurs, managers and research.

  8. Is the price squeeze doctrine still viable in fully-regulated energy markets?

    International Nuclear Information System (INIS)

    Spiwak, L.J.

    1993-01-01

    Simply stated, a price squeeze occurs when a firm with monopoly power on the primary, or wholesale, level engages in a prolonged price increase that drives competitors out of the secondary, or retail level, and thereby extends its monopoly power to the secondary market. A price squeeze will not be found, however, for any short-term exercise in market power. Rather, because anticompetitive effects of a price squeeze are indirect, the price squeeze must last long enough and be severe enough to produce effects on actual or potential competition in the secondary market. In regulated electric industries, a price squeeze claim usually arises from the complex relationship between the supplier, the wholesale customer, the retail customer, and the federal and state regulators. The supplier sells electric power to both wholesale and retail customers. Wholesale transactions are regulated by federal regulators, and retail transactions are regulated at the state level. The wholesale customers in turn sell power to their retail customers. Over the last several years, there have been substantial developments in the application of the price squeeze doctrine to fully-regulated electric utilities. This article will examine the current developments in this area, and attempt to highlight the burdens potential litigants, both plaintiffs and defendants, must overcome to succeed

  9. The world energy demand in 2006: Confirmed increase in energy consumptions in a context of soaring crude oil prices; but economic growth is twice faster - June, 10 2007

    International Nuclear Information System (INIS)

    Chateau, Bertrand

    2007-01-01

    Confirmed increase in energy consumptions in a context of soaring crude oil prices; but economic growth is twice faster. According to the latest estimates by Enerdata, The world energy demand growth remains sustained in 2006, but twice slower than the GDP's growth, probably due to high energy prices on the international market. Oil: The oil demand, very captive, confirms once again its low elasticity to prices. 71% of the world oil product demand is concentrated on transport and petro-chemical sectors (77% in Europe, +13 points since 1990; 89% in North America). Gas/Electricity: Gas demand growth in 2006 is driven by Asia and the CIS, obvious price effects in the European Union. The CIS regains its position in the world production growth (22% in 2006 against 13% in 2005 and 33% in 2004). The power generation growth is more and more dominated by China and other Asian countries. The world electricity demand increases in the same proportions as in 2005 and 2004: 4%/year. Coal: Coal accounts for half of the world increase in energy consumption in 2006. China still accounts for 72% of the coal consumption, India for 10%, the rest of Asia 8% the rest of the world 10%. (authors)

  10. A study of pricing and trading model of Blockchain & Big data-based Energy-Internet electricity

    Science.gov (United States)

    Fan, Tao; He, Qingsu; Nie, Erbao; Chen, Shaozhen

    2018-01-01

    The development of Energy-Internet is currently suffering from a series of issues, such as the conflicts among high capital requirement, low-cost, high efficiency, the spreading gap between capital demand and supply, as well as the lagged trading & valuation mechanism, any of which would hinder Energy-Internet's evolution. However, with the development of Blockchain and big-data technology, it is possible to work out solutions for these issues. Based on current situation of Energy-Internet and its requirements for future progress, this paper demonstrates the validity of employing blockchain technology to solve the problems encountered by Energy-Internet during its development. It proposes applying the blockchain and big-data technologies to pricing and trading energy products through Energy-Internet and to accomplish cyber-based energy or power's transformation from physic products to financial assets.

  11. Design of variable energy and price components of electricity tariffs as an incentive for system-efficient energy management of flexible consumers in households

    International Nuclear Information System (INIS)

    Schreiber, Michael

    2017-01-01

    To mitigate anthropogenic climate change, both the heating and transport sectors will need to be electrically driven, with the higher electrical demand met by emission-free technologies, in addition to general efficiency improvements. On the generation side, wind and photovoltaic power plants must have a rated power significantly exceeding the current peak demand, in order to cover this increased electrical requirement. On the consumption side, heat pumps and private electric vehicles will increase the percentage of energy withdrawn at the low-voltage level of the new system. Given the right incentives, these customers will shift the energy demand in such a way as to benefit the system. This flexibility can be used as a tool to deal with variable renewable insertion while avoiding simultaneous overloading of the power grid. This thesis analyses and evaluates the effects of different electricity tariff designs on energy consumption. These tariffs should incentivise households to adapt their energy consumption to market prices, without inducing critical peak demands in times of particularly low prices. Therefore, time-varying energy price components and power price components are combined into flexible electricity tariffs and implemented as target functions within an optimization problem. The cost-minimizing effect of household energy management is determined under these flexible tariffs, and the effects of the tariff designs on energy consumption and the induced costs are evaluated. Additionally, the results of the flexible tariff approach are compared with results from a centralized optimization by a virtual power plant. It is possible to develop a design for a suitable flexible tariff that decreases the energy procurement costs of electric vehicles while simultaneously reducing peak demand in comparison to a single real-time pricing incentive. Furthermore, this thesis shows that certain kinds of electricity tariff design do not only fail to support but actually

  12. Evaluating the Relationship between the Population Trends, Prices, Heat Waves, and the Demands of Energy Consumption in Cities

    Directory of Open Access Journals (Sweden)

    Katherine S. Fu

    2015-11-01

    Full Text Available The demands of energy consumption have been projected as a key factor that affects an economy at the city, national, and international level. Contributions to total U.S. greenhouse gas emissions in 2012 by various urban sectors include electricity (31%, transportation (28%, industry (20%, agriculture (10%, and commercial and residential (10%. Yet the heavy demands of energy consumption in the cities by residents, commercial businesses, industries, and transportation are important for maintaining and sustaining sufficient economic growth. The purpose of this study is to investigate the relationships between population trends, historical energy consumptions, the changes of average electricity price, average annual temperature, and extreme weather events for three selected cities: New York, Chicago, and Los Angeles. These cities are exemplary of, metropolitan areas in the East, Middle, and the Western regions of the U.S. We find that the total energy consumptions of New York, Chicago, and Los Angeles are influenced to various degrees by changes in population, temperature and the average price of electricity and that only one city, Los Angeles, does price significantly affect electricity use. This finding has implications for policy making, suggesting that each city’s climate, size and general economic priorities must be considered in developing climate change mitigation strategies and incentives.

  13. Energy sources for aquatic animals in the Orinoco River floodplain: evidence from stable isotopes.

    Science.gov (United States)

    Hamilton, S K; Lewis, W M; Sippel, S J

    1992-03-01

    Stable carbon and nitrogen isotope ratios in autotrophs, aquatic invertebrates and fishes from the Orinoco River floodplain of Venezuela reveal that microalgae, including both phytoplankton and epiphytic (attached) forms, are predominant energy sources for many aquatic animals, even though aquatic vascular plants are much more abundant. Floating mats of the grass Paspalum repens and the water hyacinth Eichhornia spp. harbor particularly high densities of aquatic animals, but isotopic evidence indicates that few species are dependent on organic carbon originating from these plants. The stable isotopic evidence for the trophic importance of algae contradicts traditional interpretations of food webs in freshwater wetlands, which are generally thought to be based largely on detritus originating from vascular plants.

  14. A Novel, Stable, and Economic Power Sharing Scheme for an Autonomous Microgrid in the Energy Internet

    Directory of Open Access Journals (Sweden)

    Bingke Yan

    2015-11-01

    Full Text Available With a higher penetration of distributed generation in the power system, the application of microgrids is expected to increase dramatically in the future. This paper proposes a novel method to design optimal droop coefficients of dispatchable distributed energy resources for a microgrid in the Energy Internet considering the volatility of renewable energy generation, such as wind and photovoltaics. The uncertainties of renewable energy generation are modeled by a limited number of scenarios with high probabilities. In order to achieve stable and economical operation of a microgrid that is also suitable for plug-and-play distributed renewable energy and distributed energy storage devices, a multi-objective optimization model of droop coefficients compromising between operational cost and the integral of time-weighted absolute error criterion is developed. The optimization is solved by using a differential evolution algorithm. Case studies demonstrate that the economy and transient behavior of microgrids in the Energy Internet can both be improved significantly using the proposed method.

  15. Linearly decoupled energy-stable numerical methods for multi-component two-phase compressible flow

    KAUST Repository

    Kou, Jisheng

    2017-12-06

    In this paper, for the first time we propose two linear, decoupled, energy-stable numerical schemes for multi-component two-phase compressible flow with a realistic equation of state (e.g. Peng-Robinson equation of state). The methods are constructed based on the scalar auxiliary variable (SAV) approaches for Helmholtz free energy and the intermediate velocities that are designed to decouple the tight relationship between velocity and molar densities. The intermediate velocities are also involved in the discrete momentum equation to ensure a consistency relationship with the mass balance equations. Moreover, we propose a component-wise SAV approach for a multi-component fluid, which requires solving a sequence of linear, separate mass balance equations. We prove that the methods have the unconditional energy-dissipation feature. Numerical results are presented to verify the effectiveness of the proposed methods.

  16. Riding the Electricity Market as an Energy Management Strategy: Savings from Real-Time Pricing

    Energy Technology Data Exchange (ETDEWEB)

    Chiles, Thomas; Shutika, Kenneth; Coleman, Philip

    2018-03-13

    Dynamic pricing of electricity, in which retail prices facing customers are responsive to changes in the underlying wholesale markets, represents a step towards economic efficiency in that customers get exposed to some or all of the costs facing wholesale market players. But what do customers who opt for this greater exposure – available in the roughly 15 “de-regulated” states, as well as, to some extent, from some regulated utilities – get in return for their risks? The U.S. General Services Administration (GSA) took a retrospective eight-year look at what the savings would have been had they let the loads for which they purchase electricity in the Washington, DC area buy electricity on the real-time pricing (RTP) market – the dynamic pricing option with the highest risk – as opposed to the strategy they chose in actuality, which was fixing flat prices with 3rd-party providers. We found that opting for RTP for the eight years of the study (2005 through 2012) would have resulted in 17% savings, or almost a quarter of a billion dollars, relative to GSA’s actual prices from the 3rd-party suppliers. This is particularly astonishing given that GSA appeared to have timed the market well during the study period, consistently beating the standard offer products provided by the distribution utilities. The issue of budgetary predictability poses an obstacle for customers (especially government ones) considering RTP and, to a lesser extent, other dynamic pricing options. Indeed, GSA would have lost money with RTP in two of the eight years, one of them substantially. But the magnitude of the savings is indisputably compelling and, even if it may be somewhat aberrational due to high congestion in the DC market, begs consideration by large electricity users currently paying to “lock in” fixed flat prices.

  17. Analysis of carbon mitigation policies. Feed-in tariffs, energy and carbon price interactions and competitive distortions on carbon markets

    Energy Technology Data Exchange (ETDEWEB)

    Reichenbach, Johanna

    2011-07-19

    I study several policy instruments for carbon mitigation with a focus on subsidies for renewable energies, emission taxes and emission allowances. In Chapter 1, I analyze the optimal design and the welfare implications of two policies consisting of an emission tax for conventional fossil-fuel utilities combined with a subsidy for the producers of renewable energy equipment and an emission tax combined with a feed-in tariff for renewable electricity. In Chapter 2 I study the empirical interrelationships between European emission allowance prices and prices for electricity, hard coal and natural gas with an application to portfolio allocation. In Chapters 3 and 4, I discuss several policy-related issues of emissions trading, in particular the potential for market manipulations by firms holding a dominant position in the emission market, the output market or both, and competitive distortions and leakage due to unequal emission regulations across industries, sectors, regions, or countries. (orig.)

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

    Directory of Open Access Journals (Sweden)

    Mokhov V.G.

    2017-01-01

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

  19. Costly energy : why oil and gas prices are rising and what we can do about it : a collection of progressive analysis and policy alternatives

    International Nuclear Information System (INIS)

    Klein, S.

    2001-02-01

    A collection of essays were presented to address the issue of rising oil and gas prices. This issue has significant social and environmental implications and the public wants to know what is driving prices up and who is profiting. The myth that gas taxes are driving price increases was dispelled. It was argued that price hikes are mainly due to crude oil price increases and to refining and marketing price increases. The link between rising prices and free trade was also emphasized. The North American Free Trade Agreement (NAFTA) tied Canada into a North American energy market in which U.S. demand sets prices in Canada. It was suggested that trade rules regarding energy should be changed. Other short and longer-term progressive policy alternatives were also presented in the second part of this report. One possible short-term policy response would be to tax windfall oil and gas profits and direct the resulting revenues to rebates for low-income households and for energy conservation initiatives. It was noted that the environmental benefit of rising prices is that it encourages conservation and improved fuel efficiency. The final part of this report discussed the issue of protecting electricity from deregulation and sited lessons learned from the deregulation of natural gas. 2 tabs., 4 figs

  20. Proceedings of the Canadian Institute's winter 2004/2005 conference on energy marketing strategies : proactively defend your energy portfolios from winter price spikes

    International Nuclear Information System (INIS)

    2004-01-01

    This conference addressed the challenges facing energy markets with particular emphasis on the outlook of winter fuels and prices. It was attended by more than 50 energy marketing professionals representing petroleum producers, pipelines, wholesale marketers, storage companies, end users, banks and government. In order to plan portfolios and reduce risks to their bottom lines, buyers and sellers of energy must always be prepared for unexpected ice storms, major pipeline outages or geopolitical events. Merchants in the fuel supply chain depend on basic analysis, correlations and forecasts of supply/demand, transportation and inventory levels. The conference presented strategies and analysis on how commodity prices will move during the winter; North American supply/demand dynamics for natural gas, electricity, heating oils and natural gas liquids; the interplay of fuel storage and price; fuel switching and its impact on the market; portfolio planning; managing the link between weather and fuel prices; seasonal volatility; and, how liquefied natural gas (LNG) is affecting winter supply. The conference featured 16 presentations, of which 6 have been catalogued separately for inclusion in this database. tabs., figs

  1. Ensuring capacity adequacy during energy transition in mature power markets: a social efficiency comparison of scarcity pricing and capacity mechanism

    International Nuclear Information System (INIS)

    Petitet, Marie; Finon, Dominique; Janssen, Tanguy

    2016-01-01

    This paper analyses how a capacity market mechanism can address security of supply objectives in the case of an energy transition scenario which combines both high energy efficiency efforts which stabilise demand in a context of mature markets and rapid increase of renewables share. The exogenous entry of variable renewables introduces a new challenge in matter of security of supply during peak hours. To analyse this situation, power markets are simulated on the long term with a model based on System Dynamics modelling which integrates both new investment and closure decisions. This last trait is an originality of the model which is very relevant to study market maturity. The addition of a capacity mechanism in a market architecture with price cap is compared to scarcity pricing in different situations. Simulations are performed for two different cases: a case without any exogenous closure of existing power plants and a case with exogenous retirements which create a need of new investments. Under the assumption of a risk-neutral investor, the results indicate that compared to an energy-only market with price cap set at euro 3,000/MWh, energy-only with scarcity pricing and capacity mechanism are two efficient market designs to reach an acceptable level of loss of load. Besides, the results highlight that the advantage of one design on the other in terms of social efficiency depends on the future scenarios which are simulated. Moreover, the results illustrates that the three market designs lead to different level of risk for peaking units, suggesting that including risk aversion is a relevant further step in the modelling. (authors)

  2. High-power electrochemical energy storage system employing stable radical pseudocapacitors.

    Science.gov (United States)

    Maruyama, Hitoshi; Nakano, Hideyuki; Nakamoto, Masaaki; Sekiguchi, Akira

    2014-01-27

    The development of electrical energy storage devices that can operate at high charge and discharge rates is fundamentally important, however although electrochemical capacitors (ECs) can charge and discharge at high rates, their electrochemical storage capacity remains an order of magnitude lower than that of conventional lithium-ion batteries. Novel pseudocapasitors are developed, based on the stable persilyl-susbtituted free radicals of the heavy group 14 elements, (tBu2 MeSi)3 E(.) [E=Si (1), Ge (2), and Sn (3)], as anode materials for energy storage system. Such systems showed a remarkable cycle stability without significant loss of power density, in comparison with similar characteristics of the known organic radical batteries, the dual carbon cell, and the electrochemical capacitor. Particularly important is that these novel electrochemical energy storage systems employing stable heavy group 14 element radicals are lithium-free. The electrochemical properties and structures of the reduced and oxidized species were studied by the cyclic voltammetry (CV), electron paramagnetic resonance (EPR) spectroscopy, and X-ray diffraction (XRD). Copyright © 2014 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim.

  3. Uncertain long-run emissions targets, CO2 price and global energy transition. A general equilibrium approach

    International Nuclear Information System (INIS)

    Durand-Lasserve, Olivier; Smeers, Yves; Pierru, Axel

    2010-01-01

    The persistent uncertainty about mid-century CO 2 emissions targets is likely to affect not only the technological choices that energy-producing firms will make in the future but also their current investment decisions. We illustrate this effect on CO 2 price and global energy transition within a MERGE-type general-equilibrium model framework, by considering simple stochastic CO 2 policy scenarios. In these scenarios, economic agents know that credible long-run CO 2 emissions targets will be set in 2020, with two possible outcomes: either a hard cap or a soft cap. Each scenario is characterized by the relative probabilities of both possible caps. We derive consistent stochastic trajectories - with two branches after 2020 - for prices and quantities of energy commodities and CO 2 emissions permits. The impact of uncertain long-run CO 2 emissions targets on prices and technological trajectories is discussed. In addition, a simple marginal approach allows us to analyze the Hotelling rule with risk premia observed for certain scenarios. (author)

  4. Dynamics of Transition Regime in Bi-stable Vibration Energy Harvesters

    KAUST Repository

    Ibrahim, Alwathiqbellah

    2017-04-20

    Vibration energy harvesting can be an effective method for scavenging wasted mechanical energy for use by wireless sensors that have limited battery life. Two major goals in designing energy harvesters are enhancing the power scavenged at low frequency and improving efficiency by increasing the frequency bandwidth. To achieve these goals, we derived a magneto-elastic beam operated at the transition between mono- and bi-stable regions. By improving the mathematical model of the interaction of magnetic force and beam dynamics, we obtained a precise prediction of natural frequencies as the distance of magnets varies. Using the shooting technique for the improved model, we present a fundamental understanding of interesting combined softening and hardening responses that happen at the transition between the two regimes. The transition regime is proposed as the optimal region for energy conversion in terms of frequency bandwidth and output voltage. Using this technique, low frequency vibration energy harvesting at around 17 Hz was possible. The theoretical results were in good agreement with the experimental results. The target application is to power wildlife bio-logging devices from bird flights that have consistent high power density around 16 Hz [1].

  5. Hydrolytically stable fluorinated metal-organic frameworks for energy-efficient dehydration

    KAUST Repository

    Cadiau, Amandine

    2017-05-18

    Natural gas must be dehydrated before it can be transported and used, but conventional drying agents such as activated alumina or inorganic molecular sieves require an energy-intensive desiccant-regeneration step. We report a hydrolytically stable fluorinated metal-organic framework, AlFFIVE-1-Ni (KAUST-8), with a periodic array of open metal coordination sites and fluorine moieties within the contracted square-shaped one-dimensional channel. This material selectively removed water vapor from gas streams containing CO2, N2, CH4, and higher hydrocarbons typical of natural gas, as well as selectively removed both H2O and CO2 in N2-containing streams. The complete desorption of the adsorbed water molecules contained by the AlFFIVE-1-Ni sorbent requires relatively moderate temperature (~105°C) and about half the energy input for commonly used desiccants.

  6. A note on the conditional correlation between energy prices: Evidence from future markets

    International Nuclear Information System (INIS)

    Marzo, Massimiliano; Zagaglia, Paolo

    2008-01-01

    We model the joint movements of daily returns on one-month futures for crude oil, heating oil and natural gas through the multivariate GARCH with dynamic conditional correlations and elliptical distributions introduced by Pelagatti and Rondena [Pelagatti, M.M., Rondena, S., 2007. 'Dynamic Conditional Correlation with Elliptical Distributions', unpublished manuscript. Universita di Milano - Bicocca, August]. Futures prices of crude and heating oil covary strongly. The conditional correlation between the futures prices of natural gas and crude oil has been rising over the last 5 years. However, this correlation has been low on average over two thirds of the sample, suggesting that future markets have no established tradition of pricing natural gas as a function of developments on oil markets. (author)

  7. Energy dissipation/transfer and stable attitude of spatial on-orbit tethered system

    Science.gov (United States)

    Hu, Weipeng; Song, Mingzhe; Deng, Zichen

    2018-01-01

    For the Tethered Satellite System, the coupling between the platform system and the solar panel is a challenge in the dynamic analysis. In this paper, the coupling dynamic behaviors of the Tethered Satellite System that is idealized as a planar flexible damping beam-spring-mass composite system are investigated via a structure-preserving method. Considering the coupling between the plane motion of the system, the oscillation of the spring and the transverse vibration of the beam, the dynamic model of the composite system is established based on the Hamiltonian variational principle. A symplectic dimensionality reduction method is proposed to decouple the dynamic system into two subsystems approximately. Employing the complex structure-preserving approach presented in our previous work, numerical iterations are performed between the two subsystems with weak damping to study the energy dissipation/transfer in the composite system, the effect of the spring stiffness on the energy distribution and the effect of the particle mass on the stability of the composite system. The numerical results show that: the energy transfer approach is uniquely determined by the initial attitude angle, while the energy dissipation speed is mainly depending on the initial attitude angle and the spring stiffness besides the weak damping. In addition, the mass ratio between the platform system and the solar panel determines the stable state as well as the time needed to reach the stable state of the composite system. The numerical approach presented in this paper provides a new way to deal with the coupling dynamic system and the conclusions obtained give some useful advices on the overall design of the Tethered Satellite System.

  8. On the instance of misuse of unprofitable energy prices under cartel law

    International Nuclear Information System (INIS)

    Schoening, M.

    1993-01-01

    The practice of fixing prices which do not cover the costs can on principle not be considered an instance of misuse pursuant to Articles 22 Section 4 Clause 2 No. 2, 103 Section 5 Clause 2 No. 2 of the GWB (cartel laws). If the authority for the supervision of cartels takes action against companies operating with unprofitable prices, this constitutes a violation not only of cartel law, but also of the constitution. The cartel authorities have no right to dismiss a dominating company's referral to poor business prospects on the ground that its business report is theoretically manipulable. Rather, the burden of proof of concealment is on the authorities. (orig.) [de

  9. Impact of oil prices, economic diversification policies and energy conservation programs on the electricity and water demands in Kuwait

    International Nuclear Information System (INIS)

    Wood, Michael; Alsayegh, Osamah A.

    2014-01-01

    This paper describes the influences of oil revenue and government's policies toward economic developments and energy efficiency on the electricity and water demands. A Kuwait-specific electricity and water demand model was developed based on historic data of oil income, gross domestic product (GDP), population and electric load and water demand over the past twelve years (1998–2010). Moreover, the model took into account the future mega projects, annual new connected loads and expected application of energy conservation programs. It was run under six circumstances representing the combinations of three oil income scenarios and two government action policies toward economic diversification and energy conservation. The first government policy is the status quo with respect to economic diversification and applying energy conservation programs. The second policy scenario is the proactive strategy of raising the production of the non-oil sector revenue and enforcing legislations toward energy demand side management and conservation. In the upcoming 20 years, the average rates of change of the electric load and water demand increase are 0.13 GW and 3.0 MIGD, respectively, per US dollar oil price increase. Moreover, through proactive policy, the rates of average load and water demand decrease are 0.13 GW and 2.9 MIGD per year, respectively. - Highlights: • Kuwait-specific electricity and water demand model is presented. • Strong association between oil income and electricity and water demands. • Rate of change of electric load per US dollar oil price change is 0.13 GW. • Rate of change of water demand per US dollar oil price change is 3.0 MIGD. • By 2030, efficiency lowers electric load and water demand by 10 and 6%, respectively

  10. 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

  11. Highly stable supercapacitors with conducting polymer core-shell electrodes for energy storage applications

    KAUST Repository

    Xia, Chuan

    2015-01-14

    Conducting polymers such as polyaniline (PAni) show a great potential as pseudocapacitor materials for electrochemical energy storage applications. Yet, the cycling instability of PAni resulting from structural alteration is a major hurdle to its commercial application. Here, the development of nanostructured PAni-RuO2 core-shell arrays as electrodes for highly stable pseudocapacitors with excellent energy storage performance is reported. A thin layer of RuO2 grown by atomic layer deposition (ALD) on PAni nanofibers plays a crucial role in stabilizing the PAni pseudocapacitors and improving their energy density. The pseudocapacitors, which are based on optimized PAni-RuO2 core-shell nanostructured electrodes, exhibit very high specific capacitance (710 F g-1 at 5 mV s-1) and power density (42.2 kW kg-1) at an energy density of 10 Wh kg-1. Furthermore, they exhibit remarkable capacitance retention of ≈88% after 10 000 cycles at very high current density of 20 A g-1, superior to that of pristine PAni-based pseudocapacitors. This prominently enhanced electrochemical stability successfully demonstrates the buffering effect of ALD coating on PAni, which provides a new approach for the preparation of metal-oxide/conducting polymer hybrid electrodes with excellent electrochemical performance.

  12. Resource externalities and the persistence of heterogeneous pricing behavior in an energy commodity market

    International Nuclear Information System (INIS)

    Bunn, Derek; Koc, Veli; Sapio, Alessandro

    2015-01-01

    In competitive product markets, repeated interaction among producers with similar economic characteristics would be expected to result in convergence of their behaviors. If convergence does not occur, it raises fundamental questions related to the sustainability of heterogeneous competitive strategies. This paper examines the prices submitted to the British wholesale electricity market by four coal-fired plants, separately owned, approximately of the same age, size and efficiency, and located in the same transmission network zone. Due to the repetitive nature of the spot market, one would expect convergence in strategies. Yet, we find evidence of persistent price dispersion and heterogeneous strategies. We consider several propositions for these effects including market power, company size, forward commitments, vertical integration and the management of interrelated assets. - Highlights: • Time series models of offer prices from 4 companies, UK electricity spot market • Focus on coal-fired plants of similar size, efficiency, age, same network zone • Low, less volatile offers by small, not vertically integrated, only-coal company • Operational risks of nuclear plants in a portfolio imply finer tracking of PX prices • Market leadership from private information on the Anglo-French interconnector flows

  13. Artificial neural networks applied to the prediction of spot prices in the market of electric energy

    International Nuclear Information System (INIS)

    Rodrigues, Alcantaro Lemes; Grimoni, Jose Aquiles Baesso

    2010-01-01

    The commercialization of electricity in Brazil as well as in the world has undergone several changes over the past 20 years. In order to achieve an economic balance between supply and demand of the good called electricity, stakeholders in this market follow both rules set by society (government, companies and consumers) and set by the laws of nature (hydrology). To deal with such complex issues, various studies have been conducted in the area of computational heuristics. This work aims to develop a software to forecast spot market prices in using artificial neural networks (ANN). ANNs are widely used in various applications especially in computational heuristics, where non-linear systems have computational challenges difficult to overcome because of the effect named 'curse of dimensionality'. This effect is due to the fact that the current computational power is not enough to handle problems with such a high combination of variables. The challenge of forecasting prices depends on factors such as: (a) foresee the demand evolution (electric load); (b) the forecast of supply (reservoirs, hydrology and climate), capacity factor; and (c) the balance of the economy (pricing, auctions, foreign markets influence, economic policy, government budget and government policy). These factors are considered be used in the forecasting model for spot market prices and the results of its effectiveness are tested and huge presented. (author)

  14. Form-stable crystalline polymer pellets for thermal energy storage: high density polyethylene intermediate products. Final report, October 1, 1977--January 31, 1978

    Energy Technology Data Exchange (ETDEWEB)

    Botham, R.A.; Ball, G.L. III; Jenkins, G.H.; Salyer, I.O.

    1978-01-01

    The primary objectives of this program were to demonstrate: (1) that form-stable high density polyethylene (HDPE), which has been shown to have desirable properties as a phase-change type of thermal energy storage material, could be produced by processing in a polyethylene plant for a projected price near 26 cents/lb; and (2) that the raw material, ethylene, will be available in the very long-term from alternate sources (other than petroleum and natural gas). These objectives were accomplished. Production of useful, form-stable HDPE pellets by radiation cross-linking was demonstrated. Such pellets are estimated to be obtainable at 26 cents/lb, using large-volume (> or equal to 10,000,000 lb/yr) in-plant processing. Well-developed technologies exist for obtaining ethylene from coal and plant (or biomass) sources, thus assuring its long-term availability and therefore that of polyethylene. A cost-benefit analysis of the HDPE thermal energy storage system was conducted over its 120 to 140/sup 0/C optimum operating range which is most suited for absorption air conditioning. The HDPE is more cost effective than either rocks, ethylene glycol, or pressurized water and is even competitive with a hypothetical 5 cents/lb salt-hydrate melting in this temperature range. These results applied, as appropriate, to both air and liquid transfer systems.

  15. Energy price indices and discount factors for life-cycle cost analysis 1997. Annual supplement to NIST handbook 135 and NBS special publication 709. (Revised)

    Energy Technology Data Exchange (ETDEWEB)

    Petersen, S.R.

    1996-07-01

    This report is the FY 1997 edition of energy price indices and discount factors for performing life-cycle cost analyses of energy and water conservation and renewable energy projects in federal facilities. It supports the federal life-cycle costing methodology by updating the energy price projections and discount factors that are described, explained, and illustrated in NIST Handbook 135 (HB 135, Life-Cycle Costing Manual for the Federal Energy Management Program (PB96-172317)). It supports private-sector life-cycle cost analysis by updating the energy price indices that are described, explained, and illustrated in NBS Special Publication 709 (SP 709 (PB87-180253)). It also supports the Energy Conservation Mandatory Performance Standards for New Federal Residential Building (10 CFR 435) by providing a table of factors for updating appliance label values.

  16. Presenting a multi-objective generation scheduling model for pricing demand response rate in micro-grid energy management

    International Nuclear Information System (INIS)

    Aghajani, G.R.; Shayanfar, H.A.; Shayeghi, H.

    2015-01-01

    Highlights: • Using DRPs to cover the uncertainties resulted from power generation by WT and PV. • Proposing the use of price-offer packages and amount of DR for implement DRPs. • Considering a multi-objective scheduling model and use of MOPSO algorithm. - Abstract: In this paper, a multi-objective energy management system is proposed in order to optimize micro-grid (MG) performance in a short-term in the presence of Renewable Energy Sources (RESs) for wind and solar energy generation with a randomized natural behavior. Considering the existence of different types of customers including residential, commercial, and industrial consumers can participate in demand response programs. As with declare their interruptible/curtailable demand rate or select from among different proposed prices so as to assist the central micro-grid control in terms of optimizing micro-grid operation and covering energy generation uncertainty from the renewable sources. In this paper, to implement Demand Response (DR) schedules, incentive-based payment in the form of offered packages of price and DR quantity collected by Demand Response Providers (DRPs) is used. In the typical micro-grid, different technologies including Wind Turbine (WT), PhotoVoltaic (PV) cell, Micro-Turbine (MT), Full Cell (FC), battery hybrid power source and responsive loads are used. The simulation results are considered in six different cases in order to optimize operation cost and emission with/without DR. Considering the complexity and non-linearity of the proposed problem, Multi-Objective Particle Swarm Optimization (MOPSO) is utilized. Also, fuzzy-based mechanism and non-linear sorting system are applied to determine the best compromise considering the set of solutions from Pareto-front space. The numerical results represented the effect of the proposed Demand Side Management (DSM) scheduling model on reducing the effect of uncertainty obtained from generation power and predicted by WT and PV in a MG.

  17. Price and expenditure elasticities of residential energy demand during urbanization: An empirical analysis based on the household-level survey data in China

    International Nuclear Information System (INIS)

    Sun, Chuanwang; Ouyang, Xiaoling

    2016-01-01

    Urbanization, one of the most obvious characteristics of economic growth in China, has an apparent “lock-in effect” on residential energy consumption pattern. It is expected that residential sector would become a major force that drives China's energy consumption after urbanization process. We estimate price and expenditure elasticities of residential energy demand using data from China's Residential Energy Consumption Survey (CRECS) that covers households at different income levels and from different regional and social groups. Empirical results from the Almost Ideal Demand System model are in accordance with the basic expectations: the demands for electricity, natural gas and transport fuels are inelastic in the residential sector due to the unreasonable pricing mechanism. We further investigate the sensitivities of different income groups to prices of the three types of energy. Policy simulations indicate that rationalizing energy pricing mechanism is an important guarantee for energy sustainable development during urbanization. Finally, we put forward suggestions on energy pricing reform in the residential sector based on characteristics of China's undergoing urbanization process and the current energy consumption situations.

  18. Selection of energy source and evolutionary stable strategies for power plants under financial intervention of government

    Science.gov (United States)

    Hafezalkotob, Ashkan; Mahmoudi, Reza

    2017-09-01

    Currently, many socially responsible governments adopt economic incentives and deterrents to manage environmental impacts of electricity suppliers. Considering the Stackelberg leadership of the government, the government's role in the competition of power plants in an electricity market is investigated. A one-population evolutionary game model of power plants is developed to study how their production strategy depends on tariffs levied by the government. We establish that a unique evolutionary stable strategy (ESS) for the population exists. Numerical examples demonstrate that revenue maximization and environment protection policies of the government significantly affect the production ESS of competitive power plants. The results reveal that the government can introduce a green energy source as an ESS of the competitive power plants by imposing appropriate tariffs.

  19. 18 CFR Appendix A 1 to Part 281 - Comparison of Selected Fuel Price Data, FPC Form No. 423 Versus Monthly Energy Review, 1976...

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Comparison of Selected Fuel Price Data, FPC Form No. 423 Versus Monthly Energy Review, 1976-January 1980 A Appendix A 1 to Part 281 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY OTHER REGULATIONS UNDER THE NATURAL GAS...

  20. The prices of the oil sector; from competition to collusion: risks and benefits, in the Colombian energy market

    International Nuclear Information System (INIS)

    Perez Bedoya, Edigson

    1996-01-01

    The topic that has been presented for time one comes only analyzing as a result of the variations of the international prices of the raw one, which are owed in great measure to the stimulus of uses of new and better energy alternatives but that it complete the principle of the minimum cost, maximum benefit. From this perspective is en routed the development of the Colombian energy sector. The exercise that thinks about, is to present the notions and basic applications of a collusion model inside the oil market that analyzed it could be an alert voice for some of the managers of the private sector that ignoring some elements of the theory of games can incur in some mistakes in the energy market

  1. Oil price volatility, financial regulation and energy policy; Volatilite du prix de petrole regulation financiere et politique energetique

    Energy Technology Data Exchange (ETDEWEB)

    Chevalier, J.M. [CGEMP, Universite Paris Dauphine, 75 - Paris (France)

    2010-05-15

    In October of 2009, the French Ministry of Economy asked the author to chair a work group on oil price volatility. The report resulting from that work was submitted to the minister on February 9, 2010. Based on the report, this article focuses on three major elements: (i) the operation of the oil market, with interacting physical basics and financial basics (ii) financial market regulation, more specifically commodities-derived product markets and current work in that area and (iii) the lessons one can draw from that exercise in terms of energy policy. Significant projects have been initiated on global, European and national levels. (author)

  2. The Influence of a CO2 Pricing Scheme on Distributed Energy Resources in California's Commercial Buildings

    Energy Technology Data Exchange (ETDEWEB)

    Stadler, Michael; Marnay, Chris; Lai, Judy; Cardoso, Goncalo; Megel, Olivier; Siddiqui, Afzal

    2010-06-01

    The Ernest Orlando Lawrence Berkeley National Laboratory (LBNL) is working with the California Energy Commission (CEC) to determine the potential role of commercial-sector distributed energy resources (DER) with combined heat and power (CHP) in greenhouse gas emissions (GHG) reductions. Historically, relatively little attention has been paid to the potential of medium-sized commercial buildings with peak electric loads ranging from 100 kW to 5 MW. In our research, we examine how these medium-sized commercial buildings might implement DER and CHP. The buildings are able to adopt and operate various technologies, e.g., photovoltaics (PV), on-site thermal generation, heat exchangers, solar thermal collectors, absorption chillers, batteries and thermal storage systems. We apply the Distributed Energy Resources Customer Adoption Model (DER-CAM), which is a mixed-integer linear program (MILP) that minimizes a site?s annual energy costs and/or CO2 emissions. Using 138 representative mid-sized commercial sites in California, existing tariffs of major utilities, and expected performance data of available technologies in 2020, we find the GHG reduction potential for these buildings. We compare different policy instruments, e.g., a CO2 pricing scheme or a feed-in tariff (FiT), and show their contributions to the California Air Resources Board (CARB) goals of additional 4 GW CHP capacities and 6.7 Mt/a GHG reduction in California by 2020. By applying different price levels for CO2, we find that there is competition between fuel cells and PV/solar thermal. It is found that the PV/solar thermal adoption increases rapidly, but shows a saturation at high CO2 prices, partly due to limited space for PV and solar thermal. Additionally, we find that large office buildings are good hosts for CHP in general. However, most interesting is the fact that fossil-based CHP adoption also increases with increasing CO2 prices. We will show service territory specific results since the

  3. Francois Loos is presenting the 2005 energy accounting: the energy consumption stayed stable and the energy efficiency increased; Francois Loos presente le bilan energetique 2005: la consommation d'energie est restee stable et l'efficacite energetique a progresse

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-04-15

    The major characteristics of the 2005 situation are: the whole primary energy consumption arises 276,5 Mtoe; the french energy intensity decreases of 1,6 %; the fossil fuels prices increase leads to the consumption decrease in the transportation sector; the energy independence is under 50%; the wind power expansion; the energy bill increase and the carbon dioxide emissions little increase. (A.L.B.)

  4. An energy-stable time-integrator for phase-field models

    KAUST Repository

    Vignal, Philippe

    2016-12-27

    We introduce a provably energy-stable time-integration method for general classes of phase-field models with polynomial potentials. We demonstrate how Taylor series expansions of the nonlinear terms present in the partial differential equations of these models can lead to expressions that guarantee energy-stability implicitly, which are second-order accurate in time. The spatial discretization relies on a mixed finite element formulation and isogeometric analysis. We also propose an adaptive time-stepping discretization that relies on a first-order backward approximation to give an error-estimator. This error estimator is accurate, robust, and does not require the computation of extra solutions to estimate the error. This methodology can be applied to any second-order accurate time-integration scheme. We present numerical examples in two and three spatial dimensions, which confirm the stability and robustness of the method. The implementation of the numerical schemes is done in PetIGA, a high-performance isogeometric analysis framework.

  5. Comparative analysis of features of Polish and Lithuanian Day-ahead electricity market prices

    International Nuclear Information System (INIS)

    Bobinaite, Viktorija; Juozapaviciene, Aldona; Staniewski, Marcin; Szczepankowski, Piotr

    2013-01-01

    The goal of this article is to better understand the processes of electricity market price formation in Poland and Lithuania through an analysis of the features (volatility and spikes) of Lithuanian and Polish day-ahead electricity market prices and to assess how acquired electricity price features could affect the achievement of the main goals of the national energy policy. The following indicators have been calculated to determine electricity market price volatility: the oscillation coefficient, the coefficient of variation, an adjusted coefficient of variation, the standard deviation indicator, the daily velocity indicator (based on the overall average price) and the daily velocity indicator (based on the daily average price). Critical values for electricity market price have been calculated to evaluate price spikes. This analysis reveals that electricity market-price volatility is moderate in Poland and high in Lithuania. Electricity price spikes have been an observable phenomenon both in Lithuanian and in Polish day-ahead electricity markets, but they are more common in Lithuania, encompassing 3.15% of the time period analysed in Poland and 4.68% of the time period analysed in Lithuania. Volatile, spiking and increasing electricity prices in day-ahead electricity markets in Lithuania and Poland create preconditions and substantiate the relevance of implementation of the national energy policies and measures. - Highlights: • Moderate and seasonal volatility. • spiking market price and. • stable average price

  6. Press point on the prices

    International Nuclear Information System (INIS)

    Schilansky, J.L.

    2005-11-01

    To analyze the prices situation of the motor fuels, the authors present the mechanisms of the prices formation (markets, crude oils price and margins) and the market context (distribution, taxes, french energy policy). They discuss then the impacts of the round table of the 16 September 2005 at Bercy, facing the increase of the motor fuels prices. (A.L.B.)

  7. When the weather governs the price

    International Nuclear Information System (INIS)

    Braaten, Jan

    2003-01-01

    In the winter 2002-2003 the Nordic power market experienced a price shock: prices rose by a factor of eight during the autumn of 2002. This was caused above all by a record failure of the water influx to the entire Nordic hydropower system. But extreme cold and technical problems with import from the Continent aggravated the problem. The probability of so small influx in autumn is less than 0.5 per cent. The large variation in influx, in particular from one year to the next, create large price fluctuations which can be unpleasant for the consumers. At the same time the price mechanism is important for the proper balance between demand and supply. It was the high prices that last winter raised the import to Norway and Sweden and that caused idle fossil power stations to be restarted and the consumption to go down. A better energy balance in Norway and Sweden will increase the supply security, but in order to exploit the unstable hydropower resources well and to achieve an acceptable supply security in dry years flexibility is needed in production, consumption, and trade with the surrounding world. Most measures to increase the flexibility cost money, and it is probably impossible and economically undesirable to protect the consumers from all price shocks. It should be possible, however, for those who want stable expenses, to choose contracts with firm prices for the whole consumption or for part of it.

  8. Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices

    Energy Technology Data Exchange (ETDEWEB)

    San Diego State University; Bard Center for Environmental Policy at Bard College; Hoen, Ben; Wiser, Ryan; Cappers, Peter; Thayer, Mark; Sethi, Gautam

    2011-06-23

    With increasing numbers of communities considering wind power developments, empirical investigations regarding related community concerns are needed. One such concern is that proximate property values may be adversely affected, yet relatively little research exists on the subject. The present research investigates roughly 7,500 sales of single-family homes surrounding 24 existing U.S. wind facilities. Across four different hedonic models, and a variety of robustness tests, the results are consistent: neither the view of the wind facilities nor the distance of the home to those facilities is found to have a statistically significant effect on sales prices, yet further research is warranted.

  9. Why does the energy price increase when cheaper-than-avoided-cost DSM is added?

    International Nuclear Information System (INIS)

    Packey, D.J.

    1993-01-01

    This paper systematically approaches the various cost implications of including demand-side management (DMS) in a utility's resource mix. A multidimensional cost structure is developed. The costs of DSM programmes are identified and displayed separately from the standard utility resource costs. Through the use of different marketplace conditions, likely scenarios are identified and described. Cheaper-than-avoided-cost DSM programmes are added to the cost framework, and the results are displayed and examined. The results are then generalized, and the conditions are identified wherein additions of DSM to the utility's resource mix will have a positive (or negative) effect on the utility's prices. (author)

  10. Integrated energy markets and varying degrees of liberalisation: Price links, bundled sales and CHP production exemplified by Northern European experiences

    International Nuclear Information System (INIS)

    Klinge Jacobsen, Henrik; Fristrup, Peter; Munksgaard, Jesper

    2006-01-01

    Liberalisation of energy markets has during the last 20 years been gradually introduced in many countries. The liberalisation has led to concerns regarding the markets' state of competition and fears that market power existence can result in less efficiency gains than what is expected from liberalisation. Concerns have also been raised as to whether specific consumer groups will be affected by limited competition in markets. Much of the concern has been concentrated on the electricity markets, but the development of energy sectors with integration of activities within natural gas, electricity and the oil sector creates the need to examine market power aspects across these markets. This paper examines the concentration trends in the Northern European markets for electricity and natural gas, combined with regional district heating aspects, especially with respect to the situation in Denmark. The situation with natural gas companies supplying to both small-scale CHP and to retail heat customers is discussed, for instance, which changes of regulatory regime for domestic heating customers should be considered when the natural gas market is being liberalised? The interlinked nature of the energy markets is described and examples of impacts from one market with limited competition to other markets with seemingly well-functioning competition are given. The specific case of large CHP production facilities with output on the regulated district heating market and the competitive Nordic electricity market is examined. How much of the fluctuations in price experienced in electricity markets should be reflected in the price of heating supplies? To which degree do the heating customers have to bear the burden of low-electricity market prices? Regulation of liberalised markets is discussed focusing on the interaction between one regulated market and the related energy markets that are liberalised. Existing regulation on the markets are compared to a situation where liberalisation

  11. Integrated energy markets and varying degrees of liberalisation: price links, bundled sales and CHP production exemplified by Northern European experiences

    International Nuclear Information System (INIS)

    Jacobsen, H.K.; Fristrup, P.; Munksgaard, J.

    2006-01-01

    Liberalisation of energy markets has during the last 20 years been gradually introduced in many countries. The liberalisation has led to concerns regarding the markets' state of competition and fears that market power existence can result in less efficiency gains than what is expected from liberalisation. Concerns have also been raised as to whether specific consumer groups will be affected by limited competition in markets. Much of the concern has been concentrated on the electricity markets, but the development of energy sectors with integration of activities within natural gas, electricity and the oil sector creates the need to examine market power aspects across these markets. This paper examines the concentration trends in the Northern European markets for electricity and natural gas, combined with regional district heating aspects, especially with respect to the situation in Denmark. The situation with natural gas companies supplying to both small-scale CHP and to retail heat customers is discussed, for instance, which changes of regulatory regime for domestic heating customers should be considered when the natural gas market is being liberalised? The interlinked nature of the energy markets is described and examples of impacts from one market with limited competition to other markets with seemingly well-functioning competition are given. The specific case of large CHP production facilities with output on the regulated district heating market and the competitive Nordic electricity market is examined. How much of the fluctuations in price experienced in electricity markets should be reflected in the price of heating supplies? To which degree do the heating customers have to bear the burden of low-electricity market prices? Regulation of liberalised markets is discussed focusing on the interaction between one regulated market and the related energy markets that are liberalised. Existing regulation on the markets are compared to a situation where liberalisation

  12. Forecasting energy market indices with recurrent neural networks: Case study of crude oil price fluctuations

    International Nuclear Information System (INIS)

    Wang, Jie; Wang, Jun

    2016-01-01

    In an attempt to improve the forecasting accuracy of crude oil price fluctuations, a new neural network architecture is established in this work which combines Multilayer perception and ERNN (Elman recurrent neural networks) with stochastic time effective function. ERNN is a time-varying predictive control system and is developed with the ability to keep memory of recent events in order to predict future output. The stochastic time effective function represents that the recent information has a stronger effect for the investors than the old information. With the established model the empirical research has a good performance in testing the predictive effects on four different time series indices. Compared to other models, the present model is possible to evaluate data from 1990s to today with extreme accuracy and speedy. The applied CID (complexity invariant distance) analysis and multiscale CID analysis, are provided as the new useful measures to evaluate a better predicting ability of the proposed model than other traditional models. - Highlights: • A new forecasting model is developed by a random Elman recurrent neural network. • The forecasting accuracy of crude oil price fluctuations is improved by the model. • The forecasting results of the proposed model are more accurate than compared models. • Two new distance analysis methods are applied to confirm the predicting results.

  13. Offering strategy of a price-maker energy storage system in day-ahead and balancing markets

    DEFF Research Database (Denmark)

    Vespermann, Niklas Peter René Erich; Delikaraoglou, Stefanos; Pinson, Pierre

    2017-01-01

    . The offering strategy of a price-maker ESS operator is formulated as a bilevel model, where the upper-level problem represents the profit maximization of the ESS operator and the lower-level problem simulates the market-clearing outcome. This methodological framework can be used either to assess market......Energy storage systems (ESS) are considered as a promising solution to improve power system flexibility and facilitate the integration of renewables in electricity markets. This paper investigates the impact of strategic offering by an ESS operator in the day-ahead and balancing market...... efficiency distortion or as a trading strategy from the perspective of the ESS operator. Our analysis shows that adopting strategic behavior may improve ESS expected profit but reduces social welfare, especially for high ESS energy-to-power ratios....

  14. Energy price report for Baden-Wuerttemberg 2016. Final report; Energiepreisbericht fuer Baden-Wuerttemberg 2016. Endbericht

    Energy Technology Data Exchange (ETDEWEB)

    Guel, Sarah; Cherkasky, Jenny

    2017-05-19

    This report describes the historical development of energy prices in recent years up to and including 2016 in Germany and Baden-Wuerttemberg and estimates the future development until 2023. The report addresses the markets for oil, gas, electricity and heat, which are summarized below. In addition, an estimate of the energy costs for households and industry and the associated burden is made. [German] Der vorliegende Bericht beschreibt die historische Entwicklung der Energiepreise der letzten Jahre bis einschliesslich 2016 in Deutschland und in Baden-Wuerttemberg und schaetzt die zukuenftige Entwicklung bis 2023 ab. Dabei geht der Bericht auf die Maerkte fuer Oel, Gas, Strom und Waerme ein, welche im Folgenden zusammengefasst werden. Zudem wird eine Abschaetzung der Energiekosten fuer Haushalte und Industrie und der damit verbundenen Belastung vorgenommen.

  15. Energy consumption, economic growth and prices: A reassessment using panel VECM for developed and developing countries

    International Nuclear Information System (INIS)

    Mahadevan, Renuka; Asafu-Adjaye, John

    2007-01-01

    This paper reinvestigates the energy consumption-GDP growth nexus in a panel error correction model using data on 20 net energy importers and exporters from 1971 to 2002. Among the energy exporters, there was bidirectional causality between economic growth and energy consumption in the developed countries in both the short and long run, while in the developing countries energy consumption stimulates growth only in the short run. The former result is also found for energy importers and the latter result exists only for the developed countries within this category. In addition, compared to the developing countries, the developed countries' elasticity response in terms of economic growth from an increase in energy consumption is larger although its income elasticity is lower and less than unitary. Lastly, the implications for energy policy calling for a more holistic approach are discussed

  16. Proposal of a resolution aiming at creating an inquiry commission about the conditions of formation and the evolution mechanisms of energy prices

    International Nuclear Information System (INIS)

    2008-01-01

    The aim of this proposal is to create a commission with the following missions: 1 - defining the different elements which compose the prices of petroleum, gas, electricity and alternative energies; 2 - describing the mechanisms of their evolution; 3 - studying the impact for consumers of the European deregulation of energy markets; 4 - identifying the short- and medium-term manoeuvre margin of the public authority in the control of prices change effects on households budget; 5 - determining, by analysing other European country policies, the medium- and long-term means necessary to implement a policy of energy efficiency. (J.S.)

  17. 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 ...

  18. Optimal selling price and energy procurement strategies for a retailer in an electricity market

    International Nuclear Information System (INIS)

    Hatami, A.R.; Seifi, H.; Sheikh-El-Eslami, M.K.

    2009-01-01

    In an electricity market, the retailer sets up contracts with the wholesale side for purchasing electricity and with the customers for its selling. This paper proposes a mathematical method based on mixed-integer stochastic programming to determine the optimal sale price of electricity to customers and the electricity procurement policy of a retailer for a specified period. The retailer has multiple choices for electricity procurement, such as spot market, forward contracts, call options and self-production. Risk is considered and modeled by conditional value-at-risk methodology. Also, the competition between retailers is modeled using a market share function. A case study is illustrated to demonstrate the capability of the proposed method. (author)

  19. Impacts of government subsidies on pricing and performance level choice in Energy Performance Contracting: A two-step optimal decision model

    International Nuclear Information System (INIS)

    Lu, Zhijian; Shao, Shuai

    2016-01-01

    Highlights: • An ESCO optimal decision model considering governmental subsidies is proposed. • Optimal price and performance level are deduced via a two-stage model. • Demand, profit, and performance level increase with increasing subsidies. • ESCO’s market strategy should firstly focus on high energy consumption industries. • Governmental subsidies standard in different industries should be differentiated. - Abstract: Government subsidies generally play a crucial role in pricing and the choice of performance levels in Energy Performance Contracting (EPC). However, the existing studies pay little attention to how the Energy Service Company (ESCO) prices and chooses performance levels for EPC with government subsidies. To fill such a gap, we propose a joint optimal decision model of pricing and performance level in EPC considering government subsidies. The optimization of the model is achieved via a two-stage process. At the first stage, given a performance level, ESCOs choose the best price; and at the second stage, ESCOs choose the optimal performance level for the optimal price. Furthermore, we carry out a numerical analysis to illuminate such an optimal decision mechanism. The results show that both price sensitivity and performance level sensitivity have significant effects on the choice of performance levels with government subsidies. Government subsidies can induce higher performance levels of EPC, the demand for EPC, and the profit of ESCO. We suggest that ESCO’s market strategy should firstly focus on high energy consumption industries with government subsidies and that government subsidies standard adopted in different industries should be differentiated according to the market characteristics and energy efficiency levels of various industries.

  20. Analyzing the Effects of the Iranian Energy Subsidy Reform Plan on Short- Run Marginal Generation Cost of Electricity Using Extended Input-Output Price Model

    Directory of Open Access Journals (Sweden)

    Zohreh Salimian

    2012-01-01

    Full Text Available Subsidizing energy in Iran has imposed high costs on country's economy. Thus revising energy prices, on the basis of a subsidy reform plan, is a vital remedy to boost up the economy. While the direct consequence of cutting subsidies on electricity generation costs can be determined in a simple way, identifying indirect effects, which reflect higher costs for input factors such as labor, is a challenging problem. In this paper, variables such as compensation of employees and private consumption are endogenized by using extended Input-Output (I-O price model to evaluate direct and indirect effects of electricity and fuel prices increase on economic subsectors. The determination of the short-run marginal generation cost of electricity using I-O technique with taken into account the Iranian targeted subsidy plan's influences is the main goal of this paper. Marginal cost of electricity, in various scenarios of price adjustment of energy, is estimated for three conventional categories of thermal power plants. Our results show that the raising the price of energy leads to an increase in the electricity production costs. Accordingly, the production costs will be higher than 1000 Rials per kWh until 2014 as predicted in the beginning of the reform plan by electricity suppliers.

  1. Impact of Fluctuating Energy Prices on the Operation Strategy of a Trigeneration System

    Directory of Open Access Journals (Sweden)

    Dražen Balić

    2015-09-01

    The optimization method is based on two criteria – energy and economic criterion, which were applied hierarchically. Therefore, two optimal operation strategies are introduced. A mixed integer non-linear programming model provides energy and cost savings up to 32% and 28% respectively in comparison with conventional system. In addition, optimal capacity of trigeneration system is explored.

  2. Dynamic peak demand pricing under uncertainty in an agent-based retail energy market

    NARCIS (Netherlands)

    M. Ansarin (Mohammad); W. Ketter (Wolfgang); J. Collins (John)

    2016-01-01

    textabstractFor a transition to a sustainable energy future, smart grids must adapt to the mass introduction of renewable energy sources and their inherent unpredictability. The Power TAC competition is a simulation of distribution grid market dynamics with autonomous retail broker agents. It seeks

  3. Stable, metastable and unstable solutions of a spin-1 Ising system based on the free energy surfaces

    Science.gov (United States)

    Keskİin, Mustafa; Özgan, Şükrü

    1990-04-01

    Stable, metastable and unstable solutions of a spin-1 Ising model with bilinear and biquadratic interactions are found by using the free energy surfaces. The free energy expression is obtained in the lowest approximation of the cluster variation method. All these solutions are shown in the two-dimensional phase space, especially the unstable solutions which in some cases are difficult to illustrate in the two-dimensional phase space, found by Keskin et al. recently.

  4. Towards Efficient Energy Management of Smart Buildings Exploiting Heuristic Optimization with Real Time and Critical Peak Pricing Schemes

    Directory of Open Access Journals (Sweden)

    Sheraz Aslam

    2017-12-01

    Full Text Available The smart grid plays a vital role in decreasing electricity cost through Demand Side Management (DSM. Smart homes, a part of the smart grid, contribute greatly to minimizing electricity consumption cost via scheduling home appliances. However, user waiting time increases due to the scheduling of home appliances. This scheduling problem is the motivation to find an optimal solution that could minimize the electricity cost and Peak to Average Ratio (PAR with minimum user waiting time. There are many studies on Home Energy Management (HEM for cost minimization and peak load reduction. However, none of the systems gave sufficient attention to tackle multiple parameters (i.e., electricity cost and peak load reduction at the same time as user waiting time was minimum for residential consumers with multiple homes. Hence, in this work, we propose an efficient HEM scheme using the well-known meta-heuristic Genetic Algorithm (GA, the recently developed Cuckoo Search Optimization Algorithm (CSOA and the Crow Search Algorithm (CSA, which can be used for electricity cost and peak load alleviation with minimum user waiting time. The integration of a smart Electricity Storage System (ESS is also taken into account for more efficient operation of the Home Energy Management System (HEMS. Furthermore, we took the real-time electricity consumption pattern for every residence, i.e., every home has its own living pattern. The proposed scheme is implemented in a smart building; comprised of thirty smart homes (apartments, Real-Time Pricing (RTP and Critical Peak Pricing (CPP signals are examined in terms of electricity cost estimation for both a single smart home and a smart building. In addition, feasible regions are presented for single and multiple smart homes, which show the relationship among the electricity cost, electricity consumption and user waiting time. Experimental results demonstrate the effectiveness of our proposed scheme for single and multiple smart

  5. Influence of tall vegetation canopy on turbulence kinetic energy budget in the stable boundary layer

    Science.gov (United States)

    Babić, Karmen; Rotach, Mathias W.

    2017-04-01

    While a considerable amount of research has been done on turbulence kinetic energy (TKE) budget studies in the surface layer over horizontally homogeneous and flat (HHF) surfaces, little research focused on budgets above heterogeneous and rough surfaces. Only few studies have investigated TKE budgets above fetch-limited forest focusing on statically neutral conditions, while studies in the stable boundary layer (SBL) are still scarce in the literature. Therefore, we present turbulence characteristics above tall, deciduous forest in the wintertime SBL and make a comparison with a well-known results of HHF terrain. Turbulence measurements performed at five levels above the canopy height (approximately h = 18 m) allowed the investigation of combined influence of the roughness sublayer (RSL) found above tall vegetation and the internal boundary layer (IBL) on the TKE budget terms. Each term of the TKE budget is investigated within the framework of local similarity theory. Kolomogorov's similarity hypothesis assumes local isotropy within the inertial subrange. Testing the local isotropy hypothesis more thoroughly resulted in a ratio of the horizontal spectral densities (Sv/Su) approaching the 4/3, while the ratio of the vertical to the longitudinal spectral density (Sw/Su) was less than 1 for all levels indicating an anisotropic turbulence above the canopy. As a consequence, estimated values of TKE dissipation rate (ɛ) for the vertical component (ɛw) were smaller (underestimated) compared to the ɛ estimates obtained from the horizontal velocity components. This finding has a direct influence on the applicability of classical Kansas spectral models valid for HHF terrain as well as on the budget of wind variances. Additionally, the dimensionless wind shear function associated with "Kolmogorov turbulence" (existence of a well-defined inertial subrange with -5/3 slopes) was found to depart from linear prediction suggesting that the stability is a stronger determinant of

  6. The impact for households of a carbon component in the price of fossil energies

    International Nuclear Information System (INIS)

    Simon, Olivier; Thao Khamsing, Willy

    2016-03-01

    A carbon component has been introduced in tax on fossil energies in 2014 in France in order to support energy transition, and resulted in a higher cost of fossil energies for households in their transport and heating expenses. This publication aims at illustrating and commenting these consequences of a carbon component. It shows that expenses increase with the standard of living, that modest households are more affected, notably as far as heating expenses are concerned, that households using domestic fuel for heating and diesel fuel for their vehicles are the most affected, that the additional cost is particularly a burden for single-parent families and singles, and that rural households are more affected. A cross-criterion analysis (household type, location, heating type, fuel type) is proposed to assess the impact of 2016 on the energy bill of typical households. Methodological hypotheses, data origins and calculation method are briefly presented

  7. The impact of energy price increases. Some scenarios; De invloed van de energieprijsstijgingen. Enige scenarios

    Energy Technology Data Exchange (ETDEWEB)

    De Koning, T.A.C.; Nijkamp, P.; Verhoef, E.T.

    1977-01-01

    The oil crises in the seventies had a large impact on the economic development in the industrialized countries. The question is how large the impact of an oil crisis would be nowadays, after many years of energy saving. An overview is given of the expectations for the most important energy markets and how these expectations in combination with energy levies will effect the economy in the Netherlands. [Dutch] De olieprijsschokken in de jaren '70 hebben de ge-industrialiseerde wereld de economische afhankelijkheid van energie sterk doen voelen. De invloed van de schokken op de economische groei was dermate groot dat deze groei twee keer drastisch daalde. Hoe groot zou de invloed van een dergelijke schok na jaren van energiebesparing nu zijn op de Nederlandse economie? In dit artikel zal worden aangegeven welke verwachtingen er worden gekoesterd voor de nabije toekomst op de voornaamste energiemarkten en hoe deze verwachtingen gecombineerd met een energieheffing door zullen werken op de Nederlandse economie.

  8. 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...

  9. Feed-in-Tariffs Financed by Energy Taxes: When do They Lower Consumer Prices?

    OpenAIRE

    Georg von Wangenheim; Tom Müller

    2011-01-01

    The share of renewable energies in the electricity sector ('green' electricity production) relative to overall electricity supply has been growing steadily over the last years in most industrialized countries. This expansion was due to economic support either by subsidies or quota requirements for green energy. Without such support, green electricity would not be competitive to electricity supply from conventional production capacities ('black' electricity production) - e.g. coal and gas fire...

  10. Developments in cooling technique. Energy efficient solutions incentivized by price increases; Ontwikkelingen in de koeltechniek. Energie-efficiente oplossingen door prijsstijgingen gestimuleerd

    Energy Technology Data Exchange (ETDEWEB)

    Van de Maarel-Sonneveld, K.; Van de Sande, C. [Nederlandse vereniging van ondernemingen op het gebied van de Koudetechniek en Luchtbehandeling NVKL, Zoetermeer (Netherlands)

    2012-04-15

    Due to tightening of European (environmental) laws and regulations there is an increasing trend in the development of installations and equipment with natural refrigerants and synthetic refrigerants (HFCs) that have low global warming potential. At the same time, the installations are also becoming more energy efficient. Due to increasing prices, it is worth making investments in for operators. [Dutch] Door aanscherping van Europese (milieu)wet- en regelgeving is er een stijgende trend in de ontwikkeling van installaties en apparatuur met natuurlijke koudemiddelen en synthetische koudemiddelen (HFK'S) met een laag aardopwarmingsvermogen of 'global warming potential'. Tegelijkertijd worden de installaties zelf energie-efficienter. Door de stijgende energieprijzen loont het voor exploitanten hierin te investeren.

  11. Prices and costs of energy sources; Les prix et les couts des sources d'energie

    Energy Technology Data Exchange (ETDEWEB)

    Martin-Amouroux, J.M. [Institut d' Economie et de Politique de l' Energie (CNRS- UPMF), 38 - Grenoble (France)

    2005-07-01

    An evaluation of the complete social energy cost should result from the sum of the production marginal cost, of the external marginal cost and of the marginal cost of substitution of non-renewable energy sources. This last parameter is difficult to estimate because of theoretical and methodological obstacles. The two others are evaluated for different energy sources, in the present day situation, and in the perspective of a probable evolution. Today, fossil fuels have the lowest internal costs whatever their use. Thus, in 'business as usual' energy scenarios, fossil fuels represent more than 80% of the energy supply at the 2050 prospects. However, several uncertainties can affect the future evolution of these costs, some are of geopolitical origin (political fragility of some exporting countries), and some are of environmental origin (internalized costs of CO{sub 2} emissions). Finally, the depletion of some resources should be anticipated. (J.S.)

  12. Capric-myristic acid/vermiculite composite as form-stable phase change material for thermal energy storage

    Energy Technology Data Exchange (ETDEWEB)

    Karaipekli, Ali; Sari, Ahmet [Department of Chemistry, Gaziosmanpasa University, 60240 Tokat (Turkey)

    2009-03-15

    Phase change materials (PCMs) can be incorporated with building materials to obtain novel form-stable composite PCM which has effective energy storage performance in latent heat thermal energy storage (LHTES) systems. In this study, capric acid (CA)-myristic acid (MA) eutectic mixture/vermiculite (VMT) composite was prepared as a novel form-stable PCM using vacuum impregnation method. The composite PCM was characterized using scanning electron microscope (SEM) and Fourier transformation infrared (FT-IR) analysis technique. Thermal properties and thermal reliability of the composite PCM were determined by differential scanning calorimetry (DSC) analysis. The CA-MA eutectic mixture could be retained by 20 wt% into pores of the VMT without melted PCM seepage from the composite and therefore, this mixture was described as form-stable composite PCM. Thermal cycling test showed that the form-stable composite PCM has good thermal reliability and chemical stability although it was subjected to 3000 melting/freezing cycling. Thermal conductivity of the form-stable CA-MA/VMT composite PCM was increased by about 85% by introducing 2 wt% expanded graphite (EG) into the composite. The increase in thermal conductivity was confirmed by comparison of the melting and freezing times of the CA-MA/VMT composite with that of CA-MA/VMT/EG composite. The form-stable PCM including EG can be used as energy absorbing building material such as lightweight aggregate for plaster, concrete compounds, fire stop mortar, and component of interior fill for wallboards or hollow bricks because of its good thermal properties, thermal and chemical reliability and thermal conductivity. (author)

  13. A stock-flow consistent input-output model with applications to energy price shocks, interest rates, and heat emissions

    Science.gov (United States)

    Berg, Matthew; Hartley, Brian; Richters, Oliver

    2015-01-01

    By synthesizing stock-flow consistent models, input-output models, and aspects of ecological macroeconomics, a method is developed to simultaneously model monetary flows through the financial system, flows of produced goods and services through the real economy, and flows of physical materials through the natural environment. This paper highlights the linkages between the physical environment and the economic system by emphasizing the role of the energy industry. A conceptual model is developed in general form with an arbitrary number of sectors, while emphasizing connections with the agent-based, econophysics, and complexity economics literature. First, we use the model to challenge claims that 0% interest rates are a necessary condition for a stationary economy and conduct a stability analysis within the parameter space of interest rates and consumption parameters of an economy in stock-flow equilibrium. Second, we analyze the role of energy price shocks in contributing to recessions, incorporating several propagation and amplification mechanisms. Third, implied heat emissions from energy conversion and the effect of anthropogenic heat flux on climate change are considered in light of a minimal single-layer atmosphere climate model, although the model is only implicitly, not explicitly, linked to the economic model.

  14. 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...

  15. Sustainable Development and the Relative Prices of Fossil and Non-fossil Energy

    DEFF Research Database (Denmark)

    Larsen, Torben

    2007-01-01

      According to the Intergovernmental Panel of Climate Change (IPCC) the actual international political measures within the Kyoto-group towards the Greenhouse-effect are quite insufficient to prevent serious climatic disturbances at the end of this Century. The study aims to evaluate the potential...... and wind are the most plentiful sources of non-fossil energy of which wind energy is the most economic. Large parks of mega-powered wind mills have been constructed both on- and offshore with better and better cost-effectiveness during the last decades (2) Actually, onshore wind mill parks...

  16. Zero Energy With an Affordable Price Tag: Friends School of Portland

    Energy Technology Data Exchange (ETDEWEB)

    Torcellini, Paul A [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

    2017-08-09

    More than half of all operating school districts in the U.S. are in rural areas. These small schools operate at a different scale and have different needs than their city counterparts. In 2003-2004, 20% of public schools in the U.S. served fewer than 200 students(1). Although the Friends School of Portland - which was designed to achieve both zero energy performance and Passivhaus certification - is an independent school, it faced financial constraints similar to those faced by many other small schools throughout the country. The project was financed through a capital campaign and a mortgage that forced a hard cost cap on the project, so the project team had to be diligent about every dollar that was spent. In its first year of operation, the school site energy use intensity was just 12 kbtu/ft2, a bit more than the 9 kbtu/ft2 predicted.

  17. Can renewable energy be financed with higher electricity prices? evidence from Spain

    OpenAIRE

    Barreiro Hurlé, Jesús; Gracia Royo, Azucena; Pérez y Pérez, Luis

    2011-01-01

    The aim of this paper is to assess willingness to pay for renewable energy electricity. We used a choice experiment to elicit willingness-to-pay for different electricity service attributes: renewable sources (wind, solar and biomass) and the regional origin of the electricity with data from a survey conducted in Spain in 2010. Findings indicate that a majority of consumers are not willing to pay a premium for increases in the renewable component of their electricity mix. Moreover, they would...

  18. Battery Energy Storage Sizing When Time of Use Pricing Is Applied

    OpenAIRE

    Carpinelli, Guido; Khormali, Shahab; Mottola, Fabio; Proto, Daniela

    2014-01-01

    Battery energy storage systems (BESSs) are considered a key device to be introduced to actuate the smart grid paradigm. However, the most critical aspect related to the use of such device is its economic feasibility as it is a still developing technology characterized by high costs and limited life duration. Particularly, the sizing of BESSs must be performed in an optimized way in order to maximize the benefits related to their use. This paper presents a simple and quick closed form procedur...

  19. Evolutionary Stable Strategy

    Indian Academy of Sciences (India)

    IAS Admin

    After Maynard-Smith and Price [1] mathematically derived why a given behaviour or strategy was adopted by a certain proportion of the population at a given time, it was shown that a strategy which is currently stable in a population need not be stable in evolutionary time (across generations). Additionally it was sug-.

  20. Essays in the Application of Linear and Non-linear Bayesian VAR Models to the Macroeconomic Impacts of Energy Price Shocks

    Science.gov (United States)

    Nguyen, Bao H.

    This thesis is a collection of five self contained empirical macroeconomic papers on the asymmetric effects of energy price shocks on various economies. Chapter 1 formally determines the number of regime changes in the US natural gas market by employing a MS-VAR model. Estimated using Bayesian methods, three regimes are identified for the period 1980 - 2016, namely, before the Decontrol Act, after the Decontrol Act and the Recession. The results show that the natural gas market tends to be much more sensitive to market fundamental shocks occurring in a Recession regime than in the other regimes. Augmenting the model by incorporating the price of crude oil, the results reveal that the impacts of oil price shocks on natural gas prices are relatively small. Chapter 2 provides new empirical evidence on the asymmetric reactions of the U.S. natural gas market and the U.S. economy to its market fundamental shocks in different phases of the business cycle. To this end, we employ a ST-VAR model to capture the asymmetric responses depending on economic conditions. Our results indicate that in contrast to the prediction made by a linear VAR model, the STVAR model provides a plausible explanation to the behavior of the U.S. natural gas market, which asymmetrically reacts in bad times and good times. Chapter 3 examines the relationship between China's economic growth and global oil market fluctuations between 1992Q1 and 2015Q3. We find that: (1) the time varying parameter VAR with stochastic volatility provides a better fit as compared to it's constant counterparts; (2) the impacts of intertemporal global oil price shocks on China's output are often small and temporary in nature; (3) oil supply and specific oil demand shocks generally produce negative movements in China's GDP growth whilst oil demand shocks tend to have positive effects; (4) domestic output shocks have no significant impact on price or quantity movements within the global oil market. Chapter 4 examines the

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

    International Nuclear Information System (INIS)

    Mukherjee, S.

    1992-01-01

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

  2. Price increase and credit crunch: a double punishment for the financing of energy projects. Review of the Ifri Energy Breakfast Roundtable, 25 November 2008 in Brussels

    International Nuclear Information System (INIS)

    Schulke, Ch.

    2009-01-01

    The roundtable starts by giving an overview of the consequences of the sharp decrease of the oil price and the credit crunch for the financing of energy projects. Some analysts say that under-investment will be the main result and they hence predict a major supply crunch in some year's time. Others are more optimistic and point to the compensation and mitigating effects of the current situation, e.g. demand destruction and substitution. So a major question for the future is the extent of demand destruction that has happened: will this demand come back once the economic crisis is over? Furthermore, as developing costs decrease, will lower cost pressure allow some important projects to go forward? Finally, will the low oil revenue have an influence on producer countries stance on foreign investment by International Oil Companies? A discussion with the audience follows the presentations

  3. Battery energy storage sizing when time of use pricing is applied.

    Science.gov (United States)

    Carpinelli, Guido; Khormali, Shahab; Mottola, Fabio; Proto, Daniela

    2014-01-01

    Battery energy storage systems (BESSs) are considered a key device to be introduced to actuate the smart grid paradigm. However, the most critical aspect related to the use of such device is its economic feasibility as it is a still developing technology characterized by high costs and limited life duration. Particularly, the sizing of BESSs must be performed in an optimized way in order to maximize the benefits related to their use. This paper presents a simple and quick closed form procedure for the sizing of BESSs in residential and industrial applications when time-of-use tariff schemes are applied. A sensitivity analysis is also performed to consider different perspectives in terms of life span and future costs.

  4. Battery Energy Storage Sizing When Time of Use Pricing Is Applied

    Directory of Open Access Journals (Sweden)

    Guido Carpinelli

    2014-01-01

    Full Text Available Battery energy storage systems (BESSs are considered a key device to be introduced to actuate the smart grid paradigm. However, the most critical aspect related to the use of such device is its economic feasibility as it is a still developing technology characterized by high costs and limited life duration. Particularly, the sizing of BESSs must be performed in an optimized way in order to maximize the benefits related to their use. This paper presents a simple and quick closed form procedure for the sizing of BESSs in residential and industrial applications when time-of-use tariff schemes are applied. A sensitivity analysis is also performed to consider different perspectives in terms of life span and future costs.

  5. Price Discrimination

    OpenAIRE

    Armstrong, M.

    2008-01-01

    This paper surveys recent economic research on price discrimination, both in monopoly and oligopoly markets. Topics include static and dynamic forms of price discrimination, and both final and input markets are considered. Potential antitrust aspects of price discrimination are highlighted throughout the paper. The paper argues that the informational requirements to make accurate policy are very great, and with most forms of price discrimination a laissez-faire policy may be the best availabl...

  6. Transfer Pricing

    OpenAIRE

    Larsen, Mads Grenaa; Nørgaard, Mads Frid; Hansen, Manjarita

    2013-01-01

    This project seeks to highlight some of the criticisms given towards the OECD Transfer Pricing Guidelines and the challenges Danish companies experience by pricing their goods and the problems this causes for trade. The project is based on a series of interviews that represent the different agents who are operating in Transfer Pricing business. These interviews, combined with the Transfer Pricing Guidelines, gives us the basis to analyse the challenges we want to clarify based on the hypothes...

  7. Estimating the electricity prices, generation costs and CO2 emissions of large scale wind energy exports from Ireland to Great Britain

    International Nuclear Information System (INIS)

    Cleary, Brendan; Duffy, Aidan; Bach, Bjarne; Vitina, Aisma; O’Connor, Alan; Conlon, Michael

    2016-01-01

    The share of wind generation in the Irish and British electricity markets is set to increase by 2020 due to renewable energy (RE) targets. The United Kingdom (UK) and Ireland have set ambitious targets which require 30% and 40% of electricity demand to come from RE, mainly wind, by 2020, respectively. Ireland has sufficient indigenous onshore wind energy resources to exceed the RE target, while the UK faces uncertainty in achieving its target. A possible solution for the UK is to import RE directly from large scale onshore and offshore wind energy projects in Ireland; this possibility has recently been explored by both governments but is currently on hold. Thus, the aim of this paper is to estimate the effects of large scale wind energy in the Irish and British electricity markets in terms of wholesale system marginal prices, total generation costs and CO 2 emissions. The results indicate when the large scale Irish-based wind energy projects are connected directly to the UK there is a decrease of 0.6% and 2% in the Irish and British wholesale system marginal prices under the UK National Grid slow progression scenario, respectively. - Highlights: • Modelling the Irish and British electricity markets. • Investigating the impacts of large scale wind energy within the markets. • Results indicate a reduction in wholesale system marginal prices in both markets. • Decrease in total generation costs and CO 2 emissions in both markets.

  8. Outlook for Japanese economy and energy demand in fiscal year 2015. Will decline in oil price benefit sluggish Japanese economy after tax increase?

    International Nuclear Information System (INIS)

    Yanagisawa, Akira; Ikarii, Ryohei; Iwata, Sohei; Wang, In-Ha; Tomokawa, K.; Shibata, Yoshiaki; Ito, Kokichi

    2015-01-01

    Although prompt economic recovery was expected, after tax increase in April 2014, not so much progress has been made as anticipated. One of the reasons for this is the increase in energy cost due to the decline in LNG price following that of oil price from an international point of view, and the electric rate hike resulted from the delay in restart of nuclear power plant from a domestic point of view, and so on. In this article, the outlook for the Japanese economy and the energy demand in the fiscal year 2015 and the influences of various factors were evaluated. For this evaluation, the values set as the primary premises for the standard scenario were: (1) world economy, (2) CIF prices for importing oil, LNG, and coal, (3) exchange rates, (4) nuclear power generation, (5) electricity demand, and (6) temperature. Then, the influences of following items on economy and energy demand were analyzed: (1) macro economy, (2) production activity, (3) domestic supply of primary energy, (4) final energy consumption, (5) sales amount of electricity and composition of electrical sources, (6) sales amount of city gas, (7) sales amount of fuel oil and LNG, (8) renewable energy power generation, (9) restart rate of nuclear power plant, and so on. (S.K.)

  9. Chemically and Thermally Stable High Energy Density Silicone Composites, Phase I

    Data.gov (United States)

    National Aeronautics and Space Administration — Thermal energy storage systems with 300 -- 1000 kJ/kg energy density through either phase changes or chemical heat absorption are sought by NASA. This proposed...

  10. 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.

  11. Can renewable energy be financed with higher electricity prices? Evidence from a Spanish region

    International Nuclear Information System (INIS)

    Gracia, Azucena; Barreiro-Hurlé, Jesús; Pérez y Pérez, Luis

    2012-01-01

    In this paper we estimate the willingness to pay for mix of renewable sources of electric power by means of a discrete choice experiment survey conducted in Spain in 2010. Two main categories of power supply attributes are explored: source of renewable power (wind, solar and biomass) and the origin of such power. The findings suggest that most consumers are not willing to pay a premium for increases in the shares of renewable in their electricity mix. For two of the three renewable sources considered (wind and biomass) an increase of the renewable mix would require a discount. Instead, we record positive willing to pay for increases in the share of both solar power and locally generated power. However, preferences for types of renewable (solar and wind) are found to be heterogeneous. By classifying respondents in two groups according to the implied importance of the share of renewable sources in their power mix we identify a market segment consisting of 20% of respondents that could promote renewable energy in the absence of subsidies. This is because such a segment shows willingness to pay higher than the current feed-in tariffs. - Highlights: ► We evaluate the WTP for different renewable electricity sources in a Aragon. ► Average positive WTP is found for only some renewable sources. ► Specific market segments are willing to pay for specific renewable sources. ► Geographical origin is more important than renewable source.

  12. From costs to prices: economic analysis of photovoltaic energy and services

    International Nuclear Information System (INIS)

    Chabot, Bernard

    1998-01-01

    A global economic analysis methodology is proposed in order to simplify the cost and the profitability assessment of energy and services delivered by photovoltaic (PV) systems. As examples, equations and graphic tools derived from this methodology give directly the overall discounted costs (ODC) of electricity delivered by grid-connected PV power plants and the ODC of water delivered by a stand-alone PV pumping system. The main criteria used for profitability analysis of PV projects are reviewed: net present value, internal rate of return and profitability index (PI). A simple method with associated equations and graphic tools is presented in order to assess the profitability of PV projects from their PI. Examples of profitability analysis of present and future grid-connected PV power plants built and operated by an independent power producers are presented and discussed, together with examples of stand-alone PV water pumping systems operated by the local community in developing countries. In both cases, equations and specific graphic tools are presented. Specific graphs can be used with different monetary units, different sizes and different investment costs of PV projects. (Author)

  13. Long-term trends in US gas supply and prices: 1993 edition of the GRI baseline projection of US energy supply and demand to 2010

    International Nuclear Information System (INIS)

    Woods, T.J.

    1993-03-01

    A Summary of the gas supply outlook in the 1993 Edition of the GRI Baseline Projection of U.S. Energy Supply and Demand, adopted as a major input to the planning cycle of the 1994 research and development program, is presented. Significant changes were made in developing the gas supply and price trends for the 1993 edition of the projection. The GRI Hydrocarbon Model was expanded to include the Canadian hydrocarbon resource base. Thus, Canadian and lower-48 gas production and prices were developed on a fully integrated basis in the 1993 projection. The lower-48 hydrocarbon resource estimate was increased, reflecting the results of the recent National Petroleum Council gas study and ongoing GRI resource work. The effects of new technology and practice on drilling costs and exploration efficiency were included for the first time. Appendices include comparisons of supply and price trends

  14. Implications of Cost Effectiveness Screening Practices in a Low Natural Gas Price Environment: Case Study of a Midwestern Residential Energy Upgrade Program

    Energy Technology Data Exchange (ETDEWEB)

    Hoffman, Ian M. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Borgeson, Merrian Goggio [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Zimring, Mark [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2013-04-12

    With the proliferation of statewide energy savings targets and other policies favorable to energy efficiency, savings from utility customer-funded energy efficiency programs could rise to offset much of annual load growth by 2025 (Barbose et al 2013). For these increased savings to occur, however, nearly all of these programs must pass screening for cost effectiveness. Some program administrators and state regulators are finding that conventional analyses, which only consider a narrow set of energy-savings related efficiency program benefits, are now resulting in some natural gas efficiency programs failing their cost-effectiveness criteria in the new low natural gas price environment. Regulators are considering whether to scale back or terminate gas portfolios in at least four states (WA, OR, ID, NM) because of cost-effectiveness concerns. Stakeholders in several regions of the country have asked LBNL to help assess alternatives to reducing the pursuit of energy savings in their regions. We address these requests by producing two working papers: one exploring cost-effectiveness screening policy implications of low to moderate natural gas prices, and a second assessing some of the values that policymakers may take into account in weighing the pros and cons of ending natural gas efficiency programs. In this policy brief, we lay out the challenges that low gas prices pose for cost effectiveness of an electric-gas efficiency program and portfolio. We then quantify options available to regulators and administrators who want to evaluate the tradeoffs among multiple policy objectives. A multi-measure, residential energy upgrade program in the Midwest is used as a lens to explore the implications of common and emerging cost-effectiveness policies in the context of low prices for natural gas. We illustrate the results across a range of cost-effectiveness screening options, including different discount rates, levels of test application, various benefit-cost tests, and the

  15. 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)

  16. Renewable Energy Prices in State-Level Feed-in Tariffs: Federal Law Constraints and Possible Solutions

    Energy Technology Data Exchange (ETDEWEB)

    Hempling, S.; Elefant, C.; Cory, K.; Porter, K.

    2010-01-01

    State legislatures and state utility commissions trying to attract renewable energy projects are considering feed-in tariffs, which obligate retail utilities to purchase electricity from renewable producers under standard arrangements specifying prices, terms, and conditions. The use of feed-in tariffs simplifies the purchase process, provides revenue certainty to generators, and reduces the cost of financing generating projects. However, some argue that federal law--including the Public Utility Regulatory Policies Act of 1978 (PURPA) and the Federal Power Act of 1935 (FPA)--constrain state-level feed-in tariffs. This report seeks to reduce the legal uncertainties for states contemplating feed-in tariffs by explaining the constraints imposed by federal statutes. It describes the federal constraints, identifies transaction categories that are free of those constraints, and offers ways for state and federal policymakers to interpret or modify existing law to remove or reduce these constraints. This report proposes ways to revise these federal statutes. It creates a broad working definition of a state-level feed-in tariff. Given this definition, this report concludes there are paths to non-preempted, state-level feed-in tariffs under current federal law.

  17. Increased energy in stable dry-band arcs due to length compression

    OpenAIRE

    Zhang, X.; Rowland, S. M.; Terzija, V.

    2010-01-01

    The occurrence of dry-band arcs on outdoor composite insulators can degrade the polymeric materials' surface and ultimately may lead to insulator failure. The degradation processes are generally considered as aging effects occurring over long periods of time, from years to decades. In this paper, it is shown that if a stable dryband arc is physically compressed in length by external forces, such as electrolyte deformation due to wind or gravity, the arcing activities will become more severe. ...

  18. Stable adiabatic circuit using advanced series capacitors and time variation of energy dissipation

    OpenAIRE

    Nakata, Shunji; Mutoh, Shin'ichiro; Makino, Hiroshi; Miyama, Masayuki; Matsuda, Yoshio

    2010-01-01

    We discuss the stability of an adiabatic stepwise-charging circuit with advanced series capacitors, which is effective for the reduction of the applied voltage to each capacitor. SPICE simulation shows that this circuit is stable even if the initial voltages are lower than zero. For the analytical discussion, we derive a matrix that connects charge and voltage in the circuit and show that the matrix is a positive-definite symmetric one. Therefore, the step voltage is generated spontaneously. ...

  19. An empirical examination of restructured electricity prices

    International Nuclear Information System (INIS)

    Knittel, C.R.; Roberts, M.R.

    2005-01-01

    We present an empirical analysis of restructured electricity prices. We study the distributional and temporal properties of the price process in a non-parametric framework, after which we parametrically model the price process using several common asset price specifications from the asset-pricing literature, as well as several less conventional models motivated by the peculiarities of electricity prices. The findings reveal several characteristics unique to electricity prices including several deterministic components of the price series at different frequencies. An 'inverse leverage effect' is also found, where positive shocks to the price series result in larger increases in volatility than negative shocks. We find that forecasting performance in dramatically improved when we incorporate features of electricity prices not commonly modelled in other asset prices. Our findings have implications for how empiricists model electricity prices, as well as how theorists specify models of energy pricing. (author)

  20. Strategy for designing stable and powerful nitrogen-rich high-energy materials by introducing boron atoms.

    Science.gov (United States)

    Wu, Wen-Jie; Chi, Wei-Jie; Li, Quan-Song; Li, Ze-Sheng

    2017-06-01

    One of the most important aims in the development of high-energy materials is to improve their stability and thus ensure that they are safe to manufacture and transport. In this work, we theoretically investigated open-chain N 4 B 2 isomers using density functional theory in order to find the best way of stabilizing nitrogen-rich molecules. The results show that the boron atoms in these isomers are aligned linearly with their neighboring atoms, which facilitates close packing in the crystals of these materials. Upon comparing the energies of nine N 4 B 2 isomers, we found that the structure with alternating N and B atoms had the lowest energy. Structures with more than one nitrogen atom between two boron atoms had higher energies. The energy of N 4 B 2 increases by about 50 kcal/mol each time it is rearranged to include an extra nitrogen atom between the two boron atoms. More importantly, our results also show that boron atoms stabilize nitrogen-rich molecules more efficiently than carbon atoms do. Also, the combustion of any isomer of N 4 B 2 releases more heat than the corresponding isomer of N 4 C 2 does under well-oxygenated conditions. Our study suggests that the three most stable N 4 B 2 isomers (BN13, BN24, and BN34) are good candidates for high-energy molecules, and it outlines a new strategy for designing stable boron-containing high-energy materials. Graphical abstract The structural characteristics, thermodynamic stabilities, and exothermic properties of nitrogen-rich N 4 B 2 isomers were investigated by means of density functional theory.

  1. Hierarchical energy and frequency security pricing in a smart microgrid: An equilibrium-inspired epsilon constraint based multi-objective decision making approach

    International Nuclear Information System (INIS)

    Rezaei, Navid; Kalantar, Mohsen

    2015-01-01

    Highlights: • Proposing a multi-objective security pricing mechanism for islanded microgrids. • Generating Pareto points using epsilon constraint methodology. • Best compromise solution using a novel decision making approach. • An equilibrium-inspired technique is used as an efficient decision making method. • Stochastic management of hierarchical reserves in a droop controlled microgrid. - Abstract: The present paper formulates a frequency security constrained energy management system for an islanded microgrid. Static and dynamic securities of the microgrids have been modeled in depth based on droop control paradigm. The derived frequency dependent modeling is incorporated into a multi-objective energy management system. Microgrid central controller is in charge to determine optimal prices of energy and frequency security such that technical, economic and environmental targets are satisfied simultaneously. The associated prices are extracted based on calculating related Lagrange multipliers corresponding to providing the microgrid hourly energy and reserve requirements. Besides, to generate optimal Pareto solutions of the proposed multi-objective framework augmented epsilon constraint method is applied. Moreover, a novel methodology on the basis of Nash equilibrium strategy is devised and employed to select the best compromise solution from the generated Pareto front. Comprehensive analysis tool is implemented in a typical test microgrid and executed over a 24 h scheduling time horizon. The energy, primary and secondary frequency control reserves have been scheduled appropriately in three different case-studies which are defined based on the microgrid various operational policies. The optimization results verify that the operational policies adopted by means of the microgrid central controller have direct impacts on determined energy and security prices. The illustrative implementations can give the microgrid central controller an insight view to provide

  2. High-energy green supercapacitor driven by ionic liquid electrolytes as an ultra-high stable next-generation energy storage device

    Science.gov (United States)

    Thangavel, Ranjith; Kannan, Aravindaraj G.; Ponraj, Rubha; Thangavel, Vigneysh; Kim, Dong-Won; Lee, Yun-Sung

    2018-04-01

    Development of supercapacitors with high energy density and long cycle life using sustainable materials for next-generation applications is of paramount importance. The ongoing challenge is to elevate the energy density of supercapacitors on par with batteries, while upholding the power and cyclability. In addition, attaining such superior performance with green and sustainable bio-mass derived compounds is very crucial to address the rising environmental concerns. Herein, we demonstrate the use of watermelon rind, a bio-waste from watermelons, towards high energy, and ultra-stable high temperature green supercapacitors with a high-voltage ionic liquid electrolyte. Supercapacitors assembled with ultra-high surface area, hierarchically porous carbon exhibits a remarkable performance both at room temperature and at high temperature (60 °C) with maximum energy densities of ∼174 Wh kg-1 (25 °C), and 177 Wh kg-1 (60 °C) - based on active mass of both electrodes. Furthermore, an ultra-high specific power of ∼20 kW kg-1 along with an ultra-stable cycling performance with 90% retention over 150,000 cycles has been achieved even at 60 °C, outperforming supercapacitors assembled with other carbon based materials. These results demonstrate the potential to develop high-performing, green energy storage devices using eco-friendly materials for next generation electric vehicles and other advanced energy storage systems.

  3. Globally sustainable and stable nuclear energy resources for the next millennium

    Energy Technology Data Exchange (ETDEWEB)

    Duffey, Romney B.

    2010-09-15

    We address the issues of future resource unsustainability, energy demand uncertainty and supply unpredictability. Inexorably growing global energy demand increases the costs of energy sources, and raises concerns about security of energy supply and environmental emissions of carbon dioxide and other greenhouse gases (GHGs). Taking the viewpoint of developing a sustainable global fuel cycle, we propose alternate paths outside the present rather traditional thinking. Nevertheless, they still represent existing and known technology opportunities that may run counter to many current national positions, and today's commercial and technical interests, while still presenting very large opportunities.

  4. Proposal for a coordination research programme (CRP) of the International Atomic Energy Agency (IAEA) on stable isotope tracer techniques for studies on protein-energy interactions

    International Nuclear Information System (INIS)

    Shetty, P.; James, W.P.T.

    1993-01-01

    This Report provides a rationale and justification for the initiation of a Coordinated Research programme to support studies using stable isotopic tracer techniques to address priority areas of human protein-energy interactions with special emphasis on the problems of human nutrition in developing countries. The Report suggests a modus for establishing such a practically oriented Coordinated Research Programme under the aegis of the International Atomic Energy Agency with concrete suggestions for its organization and the identification of probable participants in such a programme. The likely sources of additional funding to sustain such an activity viable for a period of 4 to 5 years are also indicated. 8 refs

  5. Impact assessment of the increase in fossil fuel prices on the global energy system, with and without CO2 concentration stabilization

    International Nuclear Information System (INIS)

    Rout, Ullash K.; Akimoto, Keigo; Sano, Fuminori; Oda, Junichiro; Homma, Takashi; Tomoda, Toshimasa

    2008-01-01

    It is important to evaluate impacts of fossil fuel price hikes and climate stabilization that force the global energy system to adopt alternative and efficient technologies by routing future energy system dynamics into a different technology roadmap. Hence, a high-regional-resolution and technology-rich DNE21+ model is used for the simulation of some price-hike scenarios for the period from 2000 to 2030 by increasing the ordinate of cost-potential curve of crude oil, natural gas and coal by 55 US$(00)/bbl, 3.8 US$(00)/kcf and 56 US$(00)/tonne, respectively, above their reference values; and 550 ppmv stabilization is implemented by carbon limitation from 6998 to 8250 MtC/yr. This study detected that hike in fossil fuel prices acts as an anti-catalyst for human-induced anthropogenic emissions and alleviates heavy dependency upon fossil fuels. Further, it partially solves problems of climate change by reducing CO 2 emission levels (23%), reflects human behavior through energy conservation (1.4 Gtoe), calls for efficiency improvement (7%), adopts more efficient and alternative technologies, compared to reference; however, with 550 ppmv stabilization, energy conservation rises to 1.6 Gtoe, demands 16% higher efficiency improvement and reduces CO 2 emission by 36%, relative to reference

  6. Quantifying the risk of an increase in the prices of non-energy products by combining the portfolio and input-output approaches

    International Nuclear Information System (INIS)

    Suzuki, Kengo; Uchiyama, Yohji

    2010-01-01

    An increase in the price of imported fossil fuels indirectly increases the producer price in non-energy sectors; however, this indirect influence cannot be taken into account by the traditional portfolio approach. This study proposes an analytical framework combining the input-output (I-O) model and the portfolio approach that can take the indirect influence into account. A risk of an increase in the producer price in Japanese non-energy sectors during the period 1970-2000 is estimated, and the causes of a decrease in the risk through the analysis period are clarified by decomposing an index of the risk. The result indicates that almost all non-energy sectors have decreased this risk during the analysis period. The degree and cause of the decrease depends on a sector's location in the hierarchical structure of Japanese industries. For example, assembly sectors have decreased their risk mainly as the result of improvement in energy usage by upstream sectors, such as material sectors, rather than their own improvements. Proper policies considering such a structure are required to decrease the risk further because the effort taken to do so is seldom motivated by economic profit.

  7. Search for stable energy levels in materials exhibiting strong anomalous fading: The case of apatites

    International Nuclear Information System (INIS)

    Polymeris, George S.; Giannoulatou, Valeria; Sfampa, Ioanna K.; Tsirliganis, Nestor C.; Kitis, George

    2014-01-01

    The thermally assisted OSL signal resulting from very deep traps was studied in the case of three fluorapatite samples, one chlorapatite as well as one collophanite cryptocrystalline carbonite phosphorite sample of various origins. Intense thermally assisted OSL signal was monitored while stimulating at 200 °C in all samples subjected to the present study, indicating the prevalence of the existence of these very deep traps. Anomalous fading effect is ubiquitous for all TL and OSL signals of all apatite samples subjected to the present study. The anomalous fading of the thermally assisted OSL signal arising from very deep traps is strongly differentiated from the anomalous fading of electron trap excited at temperatures below 500 °C. The thermally assisted OSL signal arising from very deep traps was found to clearly be more stable, showing much less anomalous fading over time. The possible implications of this finding in dating of both apatites and feldspars are also briefly discussed. - Highlights: • All apatite samples of the present study yield strong thermally assisted OSL (TA-OSL) signal. • In all cases, TA-OSL signal is much more stable compared to TL and conventional OSL, based on the corresponding anomalous fading rates. • This experimental feature could be extremely beneficial for luminescence dating

  8. A Method to Evaluate Isotopic and Energy Turnover Rates in Larval Culex quinquefasciatus (Diptera: Culicidae) Using Stable Isotope Labeled Compounds.

    Science.gov (United States)

    Healy, Kristen

    2018-03-14

    The goal of this study was to evaluate the use of stable isotope labeled compounds to better understand factors influencing energy turnover in larval Culex quinquefasciatus (Say; Diptera: Culicidae). Three isotope labeled compounds were evaluated in this study, including 15N-labeled potassium nitrate, 13C-labeled glucose, and 13C-labeled leucine. Conditions were first optimized in the laboratory to determine the most appropriate concentration of isotope, as well as the half-life of enrichment. Once optimum conditions were established we used standard equations to predict and determine temperature and density-dependent energy turnover rates. Our results showed that higher concentrations of isotope had an impact on mosquito survivability, overall enrichment, and adult wing length. We predicted the half-life of to be around 0.614 to 0.971 d, and our observed half-lives were determined to be 0.72 to 1.44 d depending on temperature, larval density, and isotope compound. Both density and temperature had a strong influence on isotopic turnover rates in all isotopes evaluated. Our results suggest that stable isotopes can provide a useful tool in understanding how different stress factors influence energy turnover in larval Cx. quinquefasciatus. These data can also help lay a foundation on ways to improve larvicide efficacy under different biotic and abiotic conditions.

  9. Energy efficient biological air cleaning for farm stable ventilation; Energieffektiv biologisk luftrensning til staldventilation

    Energy Technology Data Exchange (ETDEWEB)

    Groenborg Nicolaisen, C.; Hansen, Mads P.R. [Teknologisk Institut, Aarhus (Denmark); Stroem, J.; Soerensen, Keld [DXT. Danish Exergy Technology A/S, Skoerping (Denmark); Goetke, C. [Lokalenergi Aarhus, Viby J. (Denmark); Morsing, S.; Soerensen, Lars C. [SKOV A/S, Roslev (Denmark); Ladegaerd Jensen, T.; Pedersen, Poul [Videncenter for svineproduktion, Copenhagen (Denmark)

    2013-05-01

    The project has been designed to reduce energy consumption for air purification by 30% while having a payback period of maximum 3 years. The project has achieved very significant results which are far above the target. Particularly satisfying is the wide range of new components that are launched in late 2012. By implementing the newly developed system at 100% cleaning (LPC 13 ventilators and Dynamic multistep control) in relation to Best Practice (SKOV's original system with DA600 fans) in a concrete pigsty, a saving of 61% and a simple payback of 1.7 years is achieved. Similarly, it is found that the energy used for pump operation can be reduced by 37% with the new Dynamic sprinkling control. At 20% cleaning a potential saving of 15% per year and a payback period of between 0 and 5 years was found, which is dependent on the desired performance as the capacities in the bio-filter's upper capacity range between 26 thousand to 30 thousand m3 / h entails costs for an additional extraction unit in the new solution. Furthermore, the newly developed components proved highly suitable for standard installations without air cleaning where a savings potential is 53% and the payback period 1.5 years. Product-wise, the project formed the basis for the development of: 1. New energy-efficient ventilation units (LPC11, 12,13) that are suitable for air purification; 2. A new energy-saving control principle (Dynamic Multi-Step) which is particularly suitable for low-energy ventilators; 3. A new energy-saving flow measurement system for ventilating ducts (Dynamic air to the central exhaust); 4. An energy-saving pressure control in common ducts (pressure control as a function of outside temperature); 5. Proposal for a new energy-saving pump operation for sprinkling of biological filters (Dynamic sprinkling). (LN)

  10. Valuation Struggles over Pricing

    DEFF Research Database (Denmark)

    Pallesen, Trine

    2016-01-01

    Public policies such as feed-in tariffs have been widely introduced to stimulate the development of renewable energies, and sustain a decarbonisation of the electricity sector. Proponents argue that these governance instruments safeguard public goods such as the climate – yet they are accused...... 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...

  11. Development of Energy and Reserve Pre-dispatch and Re-dispatch Models for Real-time Price Risk and Reliability Assessment

    DEFF Research Database (Denmark)

    Ding, Yi; Xie, Min; Wu, Qiuwei

    2014-01-01

    -dispatch, load curtailment as well as real-time electricity prices. The modified IEEE-RTS has been analyzed to illustrate the techniques. The proposed market scheme coupled with a contingency analysis methodology has been used to evaluate both real-time electricity price risk and short term reliabilities during...... of securing proper balancing between generation and demand. The high penetration of renewable energy sources will also increase the burden of system operator for maintaining system reliabilities. However the current strategy of reliability management developed for conventional power systems and existing...... electricity market design may not cope with the future challenges the power system faces. The development of smart grid will enable power system scheduling and the electricity market to operate in a shorter time horizon for better integrating renewable energy sources into power systems. This paper presents...

  12. 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...

  13. A robust flexible-probabilistic programming method for planning municipal energy system with considering peak-electricity price and electric vehicle

    International Nuclear Information System (INIS)

    Yu, L.; Li, Y.P.; Huang, G.H.; An, C.J.

    2017-01-01

    Highlights: • A robust flexible probabilistic programming method is developed for planning MES. • Multiple uncertainties with various violations and satisfaction levels are examined. • Solutions of considering peak electricity prices and electric vehicles are analyzed. • RFPP-MES can better improve energy system reliability and abate pollutant emission. - Abstract: Effective electric power systems (EPS) planning with considering electricity price of 24-h time is indispensable in terms of load shifting, pollutant mitigation and energy demand-supply reliability as well as reducing electricity expense of end-users. In this study, a robust flexible probabilistic programming (RFPP) method is developed for planning municipal energy system (MES) with considering peak electricity prices (PEPs) and electric vehicles (EVs), where multiple uncertainties regarded as intervals, probability distributions and flexibilities as well as their combinations can be effectively reflected. The RFPP-MES model is then applied to planning Qingdao’s MES, where electrical load of 24-h time is simulated based on Monte Carlo. Results reveal that: (a) different time intervals lead to changes of energy supply patterns, the energy supply patterns would tend to the transition from self-supporting dominated (i.e. in valley hours) to outsourcing-dominated (i.e. in peak hours); (b) 15.9% of total imported electricity expense would be reduced compared to that without considering PEPs; (c) with considering EVs, the CO 2 emissions of Qingdao’s transportation could be reduced directly and the reduction rate would be 2.5%. Results can help decision makers improve energy supply patterns, reduce energy system costs and abate pollutant emissions as well as adjust end-users’ consumptions.

  14. Industrial electricity demand and energy efficiency policy: The role of price changes and private R and D in the Swedish pulp and paper industry

    International Nuclear Information System (INIS)

    Henriksson, Eva; Söderholm, Patrik; Wårell, Linda

    2012-01-01

    The objective of this paper is to analyze electricity demand behaviour in the Swedish pulp and paper industry in the context of the increased interest in so-called voluntary energy efficiency programs. In these programs tax exemptions are granted if the participating firms carry out energy efficiency measures following an energy audit. We employ a panel data set of 19 pulp and paper firms, and estimate both the own- and cross-price elasticities of electricity demand as well as the impact of knowledge accumulation following private R and D on electricity use. The empirical results show that electricity use in the Swedish pulp and paper industry is relatively own-price insensitive, and the self-reported electricity savings following the voluntary so-called PFE program support the notion of important information asymmetries at the company level. However, the results display that already in a baseline setting pulp and paper firms tend to invest in private R and D that have electricity saving impacts, and our model simulations suggest that up to about one-third of the industry sector's self-reported electricity savings in PFE could be attributable to pure baseline effects. Future evaluations of voluntary energy efficiency programs must increasingly recognize the already existing incentives to reduce energy use in energy-intensive industries. - Highlights: ► We analyze electricity demand behaviour in the Swedish pulp and paper industry. ► An important context is the voluntary energy efficiency programs PFE. ► The electricity savings following PFE are significant, but price responses are low. ► Still, already in a baseline setting firms tend to invest in electricity-saving R and D. ► These baseline issues are not adequately addressed in PFE.

  15. The energy price in the European Union in 2010; Prix de l'energie dans l'Union europeenne en 2010

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    This document presents and briefly comments data and figures on the prices of natural gas and of electricity for industries and for households, of their evolution in comparison with what they were in 2009 in the different countries of the European Union. These prices are given with VAT included or not

  16. An energy-stable convex splitting for the phase-field crystal equation

    KAUST Repository

    Vignal, P.

    2015-10-01

    Abstract The phase-field crystal equation, a parabolic, sixth-order and nonlinear partial differential equation, has generated considerable interest as a possible solution to problems arising in molecular dynamics. Nonetheless, solving this equation is not a trivial task, as energy dissipation and mass conservation need to be verified for the numerical solution to be valid. This work addresses these issues, and proposes a novel algorithm that guarantees mass conservation, unconditional energy stability and second-order accuracy in time. Numerical results validating our proofs are presented, and two and three dimensional simulations involving crystal growth are shown, highlighting the robustness of the method. © 2015 Elsevier Ltd.

  17. The resilience of the Indian economy to rising oil prices as a validation test for a global energy-environment-economy CGE model

    International Nuclear Information System (INIS)

    Guivarch, Celine; Hallegatte, Stephane; Crassous, Renaud

    2009-01-01

    This paper proposes to test the global hybrid computable general equilibrium model IMACLIM-R against macroeconomic data. To do so, it compares the modeled and observed responses of the Indian economy to the rise of oil price during the 2003-2006 period. The objective is twofold: first, to disentangle the various mechanisms and policies at play in India's economy response to rising oil prices and, second, to validate our model as a tool capable of reproducing short-run statistical data. With default parameterization, the model predicts a significant decrease in the Indian growth rate that is not observed. However, this discrepancy is corrected if three additional mechanisms identified by the International Monetary Fund are introduced, namely the rise in exports of refined oil products, the imbalance of the trade balance allowed by large capital inflows, and the incomplete pass-through of the oil price increase to Indian customers. This work is a first step toward model validation, and provides interesting insights on the modeling methodology relevant to represent an economy's response to a shock, as well as on how short-term mechanisms - and policy action - can smooth the negative impacts of energy price shocks or climate policies. (author)

  18. The resilience of the Indian economy to rising oil prices as a validation test for a global energy-environment-economy CGE model

    International Nuclear Information System (INIS)

    Guivarch, C.; Hallegatte, St.; Crassous, R.

    2008-09-01

    This paper proposes to test the global hybrid computable general equilibrium model IMACLIM-R against macro-economic data. To do so, it compares the modeled and observed responses of the Indian economy to the rise of oil price during the 2003-2006 period. The objective is twofold: first, to disentangle the various mechanisms and policies at play in India's economy response to rising oil prices and, second, to validate our model as a tool capable of reproducing short-run statistical data. With default parametrization, the model predicts a significant decrease in the Indian growth rate that is not observed. However, this discrepancy is corrected if three additional mechanisms identified by the International Monetary Fund are introduced, namely the rise in exports of refined oil products, the imbalance of the trade balance allowed by large capital inflows, and the incomplete pass-through of the oil price increase to Indian customers. This work is a first step toward model validation, and provides interesting insights on the modeling methodology relevant to represent an economy's response to a shock, as well as on how short-term mechanisms - and policy action - can smooth the negative impacts of energy price shocks or climate policies. (authors)

  19. The Enhanced Intramolecular Energy Transfer and Strengthened ff Luminescence of a Stable Helical Eu Complex in Ionic Liquids.

    Science.gov (United States)

    Hasegawa, Yuki; Ishii, Ayumi; Inazuka, Yudai; Yajima, Naho; Kawaguchi, Shogo; Sugimoto, Kunihisa; Hasegawa, Miki

    2018-01-24

    The luminescence of a Eu complex (EuL) is enhanced by stabilization of the coordination structure in highly viscous ionic liquids. The EuL was found to maintain a stable single helical structure both in organic solvents and in the ionic liquids [BMIM][PF₆] and [EMIM][PF₆]. A colorless solution of EuL dissolved in [BMIM][PF₆] exhibits bright red luminescence with a quantum yield of 32.3%, a value that is much higher than that in acetonitrile (12%). Estimated rate constants for the energy relaxation pathway indicate that the energy transfer efficiency is enhanced in [BMIM][PF₆] as a result of the suppression of molecular fluctuations in the ligands. Additionally, a highly luminescent helical structure is preserved in [EMIM][PF₆] up to 120 °C.

  20. Subsidised energy prices in France: TPN – Tarif de Première Nécessité (“basic needs” electricity price) and TSS – Tarif Spécial de Solidarité (special solidarity price for natural gas)

    CERN Multimedia

    2014-01-01

    Some members of the CERN personnel residing in France have received a letter informing them that they are eligible for the “TPN” and/or “TSS” subsidised energy prices.   The Organization has contacted the French authorities and it seems that these subsidised energy prices, for which the eligibility criteria have recently been modified, are not applicable to members of the CERN personnel. The Organization therefore asks the members of the personnel concerned to call the freephone number (numéro vert)* given on the letter that they received to say that they do not wish to benefit from these subsidised energy prices. On this matter, the Organization would like to recall that most social benefits and subsidies are granted only when the financial means of the individual concerned are below fixed ceilings. This is generally not the case for members of the CERN personnel. For this reason, and notably in line with the Code of Conduct, the Organization...

  1. Carbon pricing comes clean

    International Nuclear Information System (INIS)

    De Wit, Elisa

    2011-01-01

    Together with the Clean Energy Bill, the implications of the Australian Federal Government's climate change legislative package are far reaching. Norton Rose gives business a heads-up in this breakdown of the draft legislation underpinning the carbon pricing and clean energy scheme. It is a summary of Norton Rose's full analysis.

  2. 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.)

  3. 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...

  4. Stable Dyonic Thin-Shell Wormholes in Low-Energy String Theory

    Directory of Open Access Journals (Sweden)

    Ali Övgün

    2017-01-01

    Full Text Available Considerable attention has been devoted to the wormhole physics in the past 30 years by exploring the possibilities of finding traversable wormholes without the need for exotic matter. In particular, the thin-shell wormhole formalism has been widely investigated by exploiting the cut-and-paste technique to merge two space-time regions and to research the stability of these wormholes developed by Visser. This method helps us to minimize the amount of the exotic matter. In this paper, we construct a four-dimensional, spherically symmetric, dyonic thin-shell wormhole with electric charge Q, magnetic charge P, and dilaton charge Σ, in the context of Einstein-Maxwell-dilaton theory. We have applied Darmois-Israel formalism and the cut-and-paste method by joining together two identical space-time solutions. We carry out the dyonic thin-shell wormhole stability analyses by using a linear barotropic gas, Chaplygin gas, and logarithmic gas for the exotic matter. It is shown that, by choosing suitable parameter values as well as equation of state parameter, under specific conditions, we obtain a stable dyonic thin-shell wormhole solution. Finally, we argue that the stability domain of the dyonic thin-shell wormhole can be increased in terms of electric charge, magnetic charge, and dilaton charge.

  5. 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 has...... a production subsidiary in one country, from where it sells the produced good locally as well as to a sales subsidiary in a second country. The latter subsidiary is engaged in duopolistic competition with a local competitor. The MNE has two aims in setting the transfer price: strategic delegation and tax...... minimization. We examine the extent to which the four transfer pricing regimes we set up allow the MNE to pursue these aims. While neither strategic delegation nor tax minimization will be eliminated, trade-offs are inevitable, albeit to varying degree....

  6. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

    a production subsidiary in one country, from where it sells the produced good locally as well as to a sales subsidiary in a second country. The latter subsidiary is engaged in duopolistic competition with a local competitor. The MNE has two aims in setting the transfer price: strategic delegation and tax......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 has...... minimization. We examine the extent to which the four transfer pricing regimes we set up allow the MNE to pursue these aims. While neither strategic delegation nor tax minimization will be eliminated, trade-offs are inevitable, albeit to varying degree....

  7. Cost prices and partially fixed factor proportions in energy substitution. Institut fuer Gesellschafts- und Wirtschaftswissenschaften der Universitaet Bonn. Bericht

    Energy Technology Data Exchange (ETDEWEB)

    Conrad, K.

    1980-06-01

    The objective of this paper is to propose an approach in production economics which incroporates the aspect of substitutability in the neoclassical theory as well as the aspect of partially fixed factor proportions in the Walras-Leontief approach. The crucial idea is to decompose the input quantity in a component bound by the use of other inputs and in a component unbound or free for substitution. From the cost side this partitioning implies that the effective price of a factor consists of the own price as well as of weighted prices of the other inputs with weights indicating which inputs are bound in which order of magnitude to the use of a unit of the corresponding factor of production.

  8. Energy stable and efficient finite-difference nonlinear multigrid schemes for the modified phase field crystal equation

    Science.gov (United States)

    Baskaran, Arvind; Hu, Zhengzheng; Lowengrub, John S.; Wang, Cheng; Wise, Steven M.; Zhou, Peng

    2013-10-01

    In this paper we present two unconditionally energy stable finite difference schemes for the modified phase field crystal (MPFC) equation, a sixth-order nonlinear damped wave equation, of which the purely parabolic phase field crystal (PFC) model can be viewed as a special case. The first is a convex splitting scheme based on an appropriate decomposition of the discrete energy and is first order accurate in time and second order accurate in space. The second is a new, fully second-order scheme that also respects the convex splitting of the energy. Both schemes are nonlinear but may be formulated from the gradients of strictly convex, coercive functionals. Thus, both are uniquely solvable regardless of the time and space step sizes. The schemes are solved by efficient nonlinear multigrid methods. Numerical results are presented demonstrating the accuracy, energy stability, efficiency, and practical utility of the schemes. In particular, we show that our multigrid solvers enjoy optimal, or nearly optimal complexity in the solution of the nonlinear schemes.

  9. Energy power forward prices. Are forward prices rationally determined by agents in the Colombian market? Los precios forward sobre electricidad. ¿Determinados racionalmente por los agentes del mercado colombiano?

    Directory of Open Access Journals (Sweden)

    Gloria Stella Salazar Marín

    2011-06-01

    Full Text Available This article considers fixed-terms transactions made by agents, in diverse segments of the Colombian energy power market, using forward contracts in order to secure buying/selling prices. The random behavior of prices and quantities, which is handled in the energy power flux, implies the sacrifice of agents according to the transaction segment (regulated, non-regulated or intermediary. In addition to this, the premium, which is paid in the commercial exchange with forwards, is defined by the agents’ expectations and is a reflection of their risk aversion level. This involves financial rationality in the establishment of the premium in order to secure a price on uncertain energy power quantity in the future. Thus, the measurement of such expectation becomes useful, as it is defined by the type of market in which the transaction is being made.El artículo considera las transacciones a plazo sobre electricidad que los agentes del mercado eléctrico en Colombia, en sus diferentes segmentos, hacen por medio de contratos forward, con el fin de asegurar el precio de compra/venta. El comportamiento aleatorio de los precios y las cantidades que se manejan de flujo eléctrico implican el sacrificio de alguno de los agentes, dependiendo del segmento —regulado, no-regulado o intermediación— en el que se realice la operación. Además, la prima que se paga en los intercambios comerciales con forwards está definida por las expectativas de los agentes y es un reflejo de su grado de aversión al riesgo, lo que involucra racionalidad financiera en el establecimiento de la misma, con el propósito de asegurar un precio sobre una cantidad incierta de electricidad a futuro. Así, resulta de mucha utilidad tener una medición de dicha expectativa, definida por el tipo de mercado en el cual se realiza el negocio.

  10. Impact of a possible environmental externalities internalisation on energy prices: The case of the greenhouse gases from the Greek electricity sector

    International Nuclear Information System (INIS)

    Georgakellos, Dimitrios A.

    2010-01-01

    The present paper is concerned with the impact of the internalisation of environmental externalities on energy prices. In this context, its aim is to quantify the external cost of greenhouse gases (specifically carbon dioxide) generated during electricity production in the thermal power plants in Greece and to estimate the impact on the electricity production cost and on the electricity prices of a possible internalisation of this external cost by the producers. For this purpose, this paper applies the EcoSenseLE online tool to quantify the examined externalities. This research finds that the calculated external cost is significantly high (compared to the corresponding production cost) mainly in lignite-fired power plants. Specifically, a possible internalisation of this external cost would increase the production cost by more than 52% (on average), which, in turn, would affect similarly the electricity prices. This finding could be important for decision makers in the electricity sector to develop strategies for emission reduction and to develop environmental and energy policies. The general limitation of the external cost methodology applies to this work as it uses the standard method developed for the Externe project. Similarly, the data limitations as well as assumptions related to the costs and exclusions/ omissions of cost elements affect the results.

  11. Stearic–capric acid eutectic/activated-attapulgiate composite as form-stable phase change material for thermal energy storage

    International Nuclear Information System (INIS)

    Song, Shaokun; Dong, Lijie; Chen, Shun; Xie, Haian; Xiong, Chuanxi

    2014-01-01

    Highlights: • S–C/a-ATP form-stable PCM was prepared by vacuum fusion method. • Maximum mass fraction of S–C in composite without leakage is as high as 50 wt%. • The phase change temperature and latent heat is measured to be 21.8 °C and 72.6 J/g. • Thermal and chemical reliable with respect to a large number of thermal cycling. • The S–C/a-ATP has great potential in building energy conservation. - Abstract: The aim of this research was to prepare a novel form-stable PCMs (FSPCM) for latent heat thermal energy storage (LHTES) in low temperature, by incorporating eutectic mixture of stearic-capric acid (S–C) into activated-attapulgite (a-ATP) which acted as supporting material in the composite. The a-ATP is open-ended tubular capillary with large specific surface area, which is beneficial for the adsorption of PCMs. The maximum mass fraction of stearic-capric binary fatty acid loaded in a-ATP is determined as high as 50 wt% without melted S–C seepage from the composite. The phase change temperatures and latent heats of FSPCM are measured to be 21.8 °C and 72.6 J/g for melting process, and 20.3 °C and 71.9 J/g for freezing process, respectively, indicating it has suitable phase change temperature and high latent heat storage capacity. Moreover, the S–C/a-ATP FSPCM shows good thermal and chemical reliability after 1000 times thermal cycling test, which is identified by differential scanning calorimetry (DSC) and Fourier transformation infrared (FTIR). Therefore, the S–C/a-ATP FSPCM is an effective LHTES building material to reduce energy consumption

  12. 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

  13. Economical efficiency of bio energy as the level of prices in the agricultural sector rises; Wirtschaftlichkeit der Bioenergie bei steigendem Agrarpreisniveau

    Energy Technology Data Exchange (ETDEWEB)

    Heilmann, Hubert [Landesforschungsanstalt fuer Landwirtschaft und Fischerei Mecklenburg-Vorpommern, Guelzow (Germany). Inst. fuer Pflanzenproduktion und Betriebswirtschaft

    2013-10-01

    The food versus fuel debate is still of high social relevance. Changes to the framework conditions can have serious consequences for the profitability and the raw material supply of bioenergy plants. With the German Renewable Energy Act (EEG) economic incentives were created in the past to expand the growing of renewable raw materials on arable land for the production of biogas as well as for combined heat and power generation. In the meantime, agricultural prices have developed very dynamically; there can currently hardly be any talk of excessive promotion by the EEG. Taking into account the opportunity cost of agricultural/and use, from the perspective of the grower raw material prices which call into question the profitable supply of biogas plants are sometimes necessary - even for maize, the most important and efficient field fodder. The expiration of long-term supply agreements can lead to supply shortages, especially for biogas plants that do not belong to farms. (orig.)

  14. Unconditionally Energy Stable Implicit Time Integration: Application to Multibody System Analysis and Design

    DEFF Research Database (Denmark)

    Chen, Shanshin; Tortorelli, Daniel A.; Hansen, John Michael

    1999-01-01

    Advances in computer hardware and improved algorithms for multibody dynamics over the past decade have generated widespread interest in real-time simulations of multibody mechanics systems. At the heart of the widely used algorithms for multibody dynamics are a choice of coordinates which define...... the kinmatics of the system, and a choice of time integrations algorithms. The current approach uses a non-dissipative implict Newmark method to integrate the equations of motion defined in terms of the independent joint coordinates of the system. The reduction of the equations of motion to a minimal set...... of ordinary diffferential equations is employed to avoid the instabilities associated with the direct integrations of differential-algebraic equations. To extend the unconditional stability of the implicit Newmark method to nonlinear dynamic systems, a discrete energy balance is enforced. This constraint...

  15. Uniform stable observer for the disturbance estimation in two renewable energy systems.

    Science.gov (United States)

    Rubio, José de Jesús; Ochoa, Genaro; Balcazar, Ricardo; Pacheco, Jaime

    2015-09-01

    In this study, an observer for the states and disturbance estimation in two renewable energy systems is introduced. The restrictions of the gains in the proposed observer are found to guarantee its stability and the convergence of its error; furthermore, these results are utilized to obtain a good estimation. The introduced technique is applied for the states and disturbance estimation in a wind turbine and an electric vehicle. The wind turbine has a rotatory tower to catch the incoming air to be transformed in electricity and the electric vehicle has generators connected with its wheels to catch the vehicle movement to be transformed in electricity. Copyright © 2015 ISA. Published by Elsevier Ltd. All rights reserved.

  16. Oil price uncertainty in Canada

    International Nuclear Information System (INIS)

    Elder, John; Serletis, Apostolos

    2009-01-01

    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)

  17. Pressure-induced stable BeN4 as a high-energy density material

    Science.gov (United States)

    Zhang, Shoutao; Zhao, Ziyuan; Liu, Lulu; Yang, Guochun

    2017-10-01

    Polynitrogens are the ideal rocket fuels or propellants. Due to strong triple N≡N bond in N2, the direct polymerization of nitrogen is rather difficult (i.e. extreme high temperature and high pressure). However, the use of nitrides as precursors or the reaction of N2 with other elements has been proved to be an effective way to obtain polynitrogens. Here, with assistance of the advanced first-principles swarm-intelligence structure searches, we found that P 1 bar -BeN4, containing infinite zigzag-like polymeric nitrogen chains, can be synthesized by compressing the mixture of Be3N2 and N2 at 25.4 GPa, which is greatly lower than 110 GPa for synthesizing cubic gauche nitrogen and other polynitrogen compounds (e.g. bulk CNO at 52 GPa and SN4 at 49 GPa). Its structural stability can be attributed to the coexistence of ionic Be-N and covalent N-N bonds. Intriguingly, this phase has high kinetic stability and remains metastable at ambient pressure. The exceptional properties, including high energy density (3.60 kJ g-1), high nitrogen content (86.1%), high dynamical stability, and low polymerization pressure, make P 1 bar -structured BeN4 a promising high energy material. Infinite nitrogen chains in P 1 bar -BeN4 transform to N10 rings network in P21/c phase at 115.1 GPa. P 1 bar -BeN4 is metallic, while P21/c-BeN4 is an insulator.

  18. Strategy for the expansion of renewable energies. An investigation of the pricing strategy of the Renewable Energy Law from the viewpoint of an evolutionary cybernetic theory of economic policy

    International Nuclear Information System (INIS)

    Schlueter, Fabian

    2015-01-01

    This publication reports on how the steadily increasing costs caused by the Renewable Energy Law (EEG) have brought the German strategy for the expansion of renewable energies under criticism. According to theories of regulatory economic policy, which state that politico-economic incentives of this kind must necessarily result in an inefficient allocation of scarce resources, this cost increase can be interpreted as a direct consequence of the price intervention. The present publication takes a critical stance on this viewpoint, developing for its purpose a new position on regulatory policy referred to as the evolutionary cybernetic theory of economic policy. It starts out from the works of F.A. von Hayek, which it then takes a significant step further however. The author argues that price interventions can be meaningful strategies of economic policy as long as they are aimed at a temporary initiation of market development towards sustainability and efficiency. Based on this model conception of a shrewd pricing strategy the publication undertakes an analysis from the perspective of regulatory policy of the German subsidisation of renewable energies. In the process it not only reveals errors in design of the EEG but also makes a proposal for an amendment that could be effective in cutting through the present price dynamics. In presenting its recommendation of a self-steering expansion policy the publication not only contributes to the further development of an evolutionary cybernetic theory of economic policy but addresses the urgent problem of how to wisely use regulatory policy to create pricing strategies which serve the expansion of renewable energies.

  19. 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...

  20. Capric-myristic acid/expanded perlite composite as form-stable phase change material for latent heat thermal energy storage

    Energy Technology Data Exchange (ETDEWEB)

    Karaipekli, Ali; Sari, Ahmet [Department of Chemistry, Gaziosmanpasa University, 60240 Tokat (Turkey)

    2008-12-15

    The aim of this study is to prepare a novel form-stable phase change material (PCM) for latent heat thermal energy storage (LHTES) in buildings. A eutectic mixture of capric acid (CA) and myristic acid (MA) is incorporated with expanded perlite (EP). Thermal properties, thermal reliability, and thermal conductivity of the form-stable composite PCM are determined. The maximum CA-MA absorption of EP was found to be 55 wt% without melted PCM seepage from the composite, and therefore this mixture was described as a form-stable composite. The form-stable composite PCM was characterized using the FT-IR spectroscopy method. The melting and freezing temperatures and latent heats of form-stable composite PCM were measured using DSC analysis. Thermal cycling test of the form-stable composite PCM indicated good thermal reliability in terms of changes in thermal properties after 5000 thermal cycling. The thermal conductivity of the form-stable CA-MA/EP composite PCM was increased about 58% by adding 10 wt% expanded graphite (EG). The form-stable CA-MA/EP/EG composite PCM was considered as an effective LHTES material in the building energy conservation due to suitable phase change temperatures, high latent capacities, good thermal reliability, and good thermal conductivity. (author)