Results 1 - 10 of 505
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[en] Grid infrastructure managers worldwide are facing demands for reinvestments in new assets with higher on-grid and off-grid functionality in order to meet new environmental targets. The roles of the current actors will change as the vertical interfaces between regulated and unregulated tasks become blurred. In this paper, we characterize some of the effects of new asset investments policy on the network tasks, assets and costs and contrast this with the assumptions of the current economic network regulation. To provide structure, we present a model of investment provision under regulation between a distribution system operator and a potential investor–generator. The results from the model confirm the hypothesis that network regulation should find a focal point, should integrate externalities in the performance assessment and should avoid wide delegation of contracting-billing for smart-grid investments. - Highlights: ► We review regulatory solutions for smart-grid and DER investments. ► What matters more than upfront incentives is organization and delegation. ► We model regulated investment under private information by a generator or a DSO. ► Highest welfare for high-powered incentives and centralized information. ► Market approaches likely to give poor outcomes for this case.
[en] The well-known problem of finding explicit formulas for the expected return and risk of portfolios with general commission is completely solved. It is assumed that the commission depends on the asset and the asset position, and on whether the given position is opened or closed. For portfolios with only the budget constraint and initial commission, we prove that the function of expected portfolio return and portfolio variance function are bounded.
[en] Knowledge management is the discipline of enabling individuals and teams to collectively and systematically create, share and apply knowledge. The most important assets in the IAEA Department of Safeguards are people and their knowledge. The focus of the Department is to create an environment within which people share, learn and work together. The efforts to manage the knowledge leaving the Department have been focused on helping the supervisor of the departing staff member to identify what critical knowledge needs to be retained, and how to retain that knowledge. The Safeguards Knowledge Management team developed a person-centred approach. This approach involves interviews with the staff member, co-workers and/or customers to identify the critical knowledge to be transferred. Although time consuming we have found that this method is most effective to capture the needed knowledge. This approach has four steps: · Identify the critical knowledge to be retained; · Select the knowledge transfer methods; · Apply the knowledge transfer methods; and · Assess and refine the transfer process. The paper will describe the person-centred approach and lessons learned from implementing this programme in the Department over several years. (author)
[en] Smart sensors and extensively configurable devices are gradually imposed by the automation market. Except for safety systems, they find their way into the next Instrumentation & Control (I&C) generation. The understanding and handling of these devices require an extensive Knowledge Management (KM). This will be outlined for security, testing and training. For legacy systems, security often relates to vetting and access control. For digital devices, a refined asset management is needed, e.g. down to board-level support chipsets. Firmware and system/application software have their own configurations, versions and patch levels. So, here, as a first step of the KM, a user needs to know the firmware configurability. Then, trainings can address when to apply patches, perform regression tests and on what to focus, based on accumulated experience. While assets are often addressed implicitly, this document justifies an explicit and semiformal representation of primary and supporting assets (the asset portfolio) and the establishment of an asset management system as a basis for a robust knowledge management. (author)
[en] Since Gaussianity and stationarity assumptions cannot be fulfilled by financial data, the time-homogeneous Ornstein–Uhlenbeck (THOU) process was introduced as a candidate model to describe time series of financial returns . It is an Ornstein–Uhlenbeck (OU) process in which these assumptions are replaced by linearity and time-homogeneity. We employ the OU and THOU processes to analyze daily foreign exchange rates against the US dollar. We confirm that the OU process does not fit the data, while in most cases the first four cumulants patterns from data can be described by the THOU process. However, there are some exceptions in which the data do not follow linearity or time-homogeneity assumptions. - Highlights: • Gaussianity and stationarity assumptions replaced by linearity and time-homogeneity. • We revisit the time-homogeneous Ornstein–Uhlenbeck (THOU) process. • We employ the THOU process to analyze foreign exchange rates against the US dollar. • The first four cumulants patterns from data can be described by the THOU process
[en] Highlights: • We propose an endogenous financial network model. • Endogenous networks include interbank networks, inter-firm networks and bank-firm networks. • We investigate contagion risk in endogenous financial networks. - Abstract: In this paper, we investigate contagion risk in an endogenous financial network, which is characterized by credit relationships connecting downstream and upstream firms, interbank credit relationships and credit relationships connecting firms and banks. The findings suggest that: increasing the number of potential lenders randomly selected can lead to an increase in the number of bank bankruptcies, while the number of firm bankruptcies presents a trend of increase after the decrease; after the intensity of choice parameter rises beyond a threshold, the number of bankruptcies in three sectors (downstream firms, upstream firms and banks) shows a relatively large margin of increase, and keeps at a relatively high level; there exists different trends for bankruptcies in different sectors with the change of the parameter of credits’ interest rates.
[en] The literature on sustainable energy technology sees informational barriers as a major obstacle to technology adoption. In the case of solar home systems, recent studies report positive socio-economic effects on households, but technology adoption remains underwhelming. In collaboration with a local solar technology provider, we conduct a randomized controlled trial in 75 large villages in the state of Uttar Pradesh, India to examine the ability of village solar demonstrations to create markets for solar home systems. We find no effect of such demonstrations on technology sales, awareness, or perceptions of solar technology. Technology adopters report high levels of satisfaction with product quality and service, suggesting that the null finding cannot be attributed to poor technology. These findings suggest that lack of awareness is not a binding constraint on the growth of solar technology markets in the study area. Based on additional surveys, we find evidence suggesting that access to credit from rural banks is an important explanation for variation in sales across villages. These results do not prove that information and awareness are irrelevant in general, but they show that even carefully designed marketing campaigns cannot increase demand for new products in the presence of a binding credit constraint. - Highlights: • Randomized controlled trial on off-grid solar technology demonstrations in rural India. • Demonstrations did not increase product sales. • Main barrier to increased sales appears to be lack of access to credit. • Growth of India?s off-grid solar market requires policies that increase access to credit. • Rural banks should play a greater role in solar market creation.
[en] In recent years, there has been an increase in the number of missions for the H-Canyon facility at the Savannah River Site, as its capabilities are being recognized as an increasingly important asset for the Department of Energy (U.S. DOE). The sustainability of that asset was called into question in 2011, when funding from U.S. DOE's Environmental Management (EM) program became insufficient to sustain processing. Through the acquisition of new customers, funding was restored and H Canyon missions have seen new life. (authors)
[en] The resilience of social, biophysical, and technological systems is of increasing scholarly and practical import. Guided by scholarship on disaster resilience, environmental inequality, and urban service inequality, we advance the study of “unequal resilience” in a critical infrastructure – the electric grid. We analyze inequality in electricity outage duration at the census block group level using data from the U.S. Census, the U.S. Geological Survey, and a U.S. electrical utility's database of power outages from 2002 to 2004. Our intersectional approach identifies a factor variable of American Indian disadvantage as a correlate of average outage duration – suggesting possible support for an institutional bias hypothesis. However, spatial error regression models demonstrate that unequal resilience within our study area is most consistently explained by proximity to priority assets (i.e., hospitals), average downstream customers affected by outages, and environmental conditions (i.e., the seasonality of outages). These results are consistent with existing research on utilities' response to power outages, and more broadly with the bureaucratic decision rules perspective on service inequalities. We discuss the implications of our findings for future research and energy policy. - Highlights: • Examines unequal resilience as differences in outage duration in an electric grid. • Connects US Census sociodemographics with utility outage data. • Outage duration positively correlated with American Indian disadvantage. • Spatial regression: bureaucratic decision rules explain outage duration patterns. • Policy implications for U.S. regulatory compact and energy assistance programs.