Results 1 - 10 of 113
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[en] Norway has some of the best wind resources in Europe. In 1999, the Norwegian Parliament committed to attain an annual onshore wind power production goal of 3.0 TWh by 2010; however, in 2010, onshore wind power production measured only 1.0 TWh. This article discusses the reasons that this goal was not achieved. The analysis addresses the key figures on the strategic, tactical and operational levels. This model is combined with a time line that seeks to define when different actors should have secured concessions and funding to achieve the goal. After introducing the time line, a list of questions is introduced for these key actors. The three-level model, the time line and the questions constitute the analytical framework. Explanations for the failure to achieve the goal may be identified on all three levels. However, the primary explanatory factors were political uncertainty in the support scheme and wind power's role in the energy market in general; both of these factors are identified on the strategic level. Uncertainty on the strategic level influenced the lower levels, which led to bottlenecks in the concession process and jittery investors who thought that the risk of investment in wind power was too high. - Highlights: • Implementation of wind power in the Norwegian energy system up to 2010. • The concession process, the support scheme and the marked players are considered. • Uncertainty about the support scheme slowed down the implementation process. • The concession process has been a bottleneck. • The support scheme has only to a certain degree trigged investments
[en] The Norwegian residential electricity consumption increased by an average of 3% annually during the period 1976-1993. Political signals indicate that the growth in Norwegian residential energy consumption should be reduced, and that it may be necessary to increase energy taxes. Based on data for the sample of households from the annual consumer expenditure survey, we study factors that are of importance explaining the growth in Norwegian residential electricity demand during this period. Nearly half of the growth is due to an increase in the number of households, while the rest reflects an increase in average consumption per household. The increase in average consumption per household is due to an increasing number of households possessing electric household appliances such as dryers and dishwashers, an increase in real disposable household income and in the floor space of dwellings. (author)
[en] This paper presents a valuation study of hydropower investment opportunities in the Norwegian context. According to NVE (Norwegian Water Resources and Energy Directorate, the regulator), there is a potential of 39 TWh not yet developed (generation in a normal year is approximately 120 TWh). By using the conceptual real option framework of Dixit and Pindyck [1994. Investment Under Uncertainty. Princeton University Press, Princeton, NJ] one can estimate the value of investment opportunities to NOK 11 million/GWh (EUR 1.4 million/GWh). Furthermore, the optimal trigger price for initiating an investment based on electricity forward prices is calculated to NOK 0.32/kWh (EUR 0.04/kWh). The analysis shows consistency between real option theory and aggregate investment behaviour in Norwegian hydropower
[en] The objective of this paper is to investigate the effects on utilisation of existing hydropower in a region of investing in significant wind-power in the region within the present network. Policy simulations are conducted using a dynamic system-wide model that is calibrated to reflect the structure of the Nordic power market. This model is the one used by the Norwegian electricity regulator and large hydropower companies in Norway for scheduling of hydro and market analyses. Simulations are carried out for different inflow situations based on past observations going back 60 years. Introduction of wind-power leads to significant increase in network congestion in the region, lower hydropower production, higher level of storage, increased spillage of water, and considerably lower price level in the local region in question
[en] The objective of this paper is to investigate the effects on utilisation of existing hydropower in a region of investing in significant wind-power in the region within the present network. Policy simulations are conducted using a dynamic system-wide model that is calibrated to reflect the structure of the Nordic power market. This model is the one used by the Norwegian electricity regulator and large hydropower companies in Norway for scheduling of hydro and market analyses. Simulations are carried out for different inflow situations based on past observations going back 60 years. Introduction of wind-power leads to significant increase in network congestion in the region, lower hydropower production, higher level of storage, increased spillage of water, and considerably lower price level in the local region in question. (author)
[en] This paper examines the impact of daylight saving time (DST) on electricity consumption in southern Norway and Sweden. As DST was implemented in both the countries in 1980, we do not have a clear counterfactual in the form of a control period to identify the impact of DST directly with before and after or with and without analysis. This problem in the study is resolved by using 'equivalent day normalization technique' to identify the impact of DST. The difference-in-difference (DID) average treatment effects model suggests an annual reduction of at least 1.0 percent in electricity consumption for both Norway and Sweden due to DST. The average annual electricity consumption reduction corresponding to DST effects equals 519 and 882 GWh for southern Norway and Sweden, resulting in an annual financial saving of 16.1 million Euros and 30.1 million Euros, respectively. The distribution of treatment effects across different hours of the day indicates a small but significant reduction in electricity consumption during the morning and a steep decline during the evening hours in both countries. - Highlights: → We assess the impact of DST on electricity consumption in southern Norway and Sweden. → DST reduces electricity consumption by 1.3 percent in both countries. → The impact is smaller during the morning hours but larger during evening hours. → Respective annual financial savings equal Euro 16.1 and 30.1 million for Norway and Sweden. → Average annual electricity savings equal 519 and 882 GWh for two countries, respectively.
[en] A sample of 896 Norwegian households participating in a subsidy programme was surveyed in order to evaluate the success of the programme. The programme subsidised investments in new heating technologies, including heat pumps and pellet stoves. The success of the programme was measured by the degree of overall satisfaction with the investment by the sampled households. Theories on diffusion of innovations and planned behaviour motivate the empirical modelling of the investment satisfaction. The economic return on the investment varied substantially both within and between the two heating technologies, with heat pumps outperforming pellet stoves in this respect. Still, the economic return showed no explanatory power toward the investment satisfaction of the household. Among the economic variables, only the electricity price had any influence on investment satisfaction. Technical quality, indoor climate and heat comfort, and the availability of the supplier of the heating equipment were the most important explanatory variables. - Highlights: ► Investments in heat pumps and pellet stoves were subsidized over a public programme. ► Heat pumps showed a strong economic return, pellet stoves performed much more poorly. ► This difference in economic return does not influence the investment satisfaction. ► Technical quality, indoor climate and heat comfort are important benefits. ► Service availability and electricity price also influence satisfaction.
[en] The growth in private energy consumption is an increasing problem in western countries. From an environmental point of view, this consumption has to be reduced. On the basis of two Norwegian case studies, this article discusses private energy consumption and possibilities for reduction, with a special focus on the home. It argues against a rational economic view of the consumer and emphasizes the significance of a more subtle understanding of private energy use. The article approaches the challenges of reducing private energy consumption by analysing the domestication of the home and discusses everyday life activities as well as the phenomenon of rebuilding and redecorating. By using the concept of domestication, the article challenges the linear understanding of technological as well as behavioural change. Private energy consumption is part of a complex network and it is necessary to understand this network in order to achieve a more permanent reduction
[en] The purpose of this paper is to give an introduction to, and a pricing analysis of a new forward locational price differential product, Contracts for Difference (CfD), introduced the 17th of November 2000 at Nord Pool - the Nordic electricity exchange. To our knowledge there is no literature available of how the Nordic CfDs are priced. The CfD is a forward market product with reference to the difference between the future seasonal Area Price and System Price. By using available historical trading prices and spot prices for four seasonal contracts and one yearly contract, we analyze the relationships between the contract prices and the value of the underlying asset. For the first four seasonal contracts it appears that CfDs traded at Nord Pool are mostly over-priced relative to the underlying asset. Pricing theory for forward contracts explains this by the presence of a majority of risk-averse consumers who are willing to pay a risk premium for receiving the future price differential. We utilize statistical analysis with regard to the contract prices and the underlying asset, and find some interesting relationships. The analysis is preliminary due to the fact that the CfD market is relatively new. (Author)
[en] This paper explores the relationship between bioenergy, rural development and related innovation processes in two case studies (Emilia Romagna in Italy—and Norway), for a better understanding of the impacts of different policy regimes on bioenergy innovation. Regional innovation systems theory is used to explain the results emerging from the case studies and to identify the presence of potential elements for innovation. We used policy and relevant literature analysis and a grounded approach based on semi- structured interviews of relevant actors involved in the local bioenergy system. The main findings show that the case studies present consistent differences in terms of policy instruments and socio-political dynamics. Emilia Romagna has major weaknesses and threats that hinder innovation, but some positive potential elements for the future. Norway presents stronger local elements for innovation within local bioenergy systems, such as the employment of local resources and knowledge, but critical market and policy features that threaten further innovation developments. The conclusion draws on the comparative analysis to discuss policy implications of the study. - Highlights: • We compare policies and institutional frameworks which regulate bioenergy systems. • We use the SWOT analysis to evaluate the results of the case studies. • Emilia Romagna has major systemic weaknesses. • Norway has local elements for innovation but policy weaknesses. • Policies and policy instruments should be decentralised