Results 1 - 10 of 359
Results 1 - 10 of 359. Search took: 0.019 seconds
|Sort by: date | relevance|
[en] An efficient electricity double-sided auction mechanism should control market power and enhance the social welfare of the electricity market. Based on this goal, the paper designs a new double-sided auction mechanism. In the new mechanism, the social welfare contribution of each participant plays a pivotal role, because this contribution is the critical factor in market clearing, payment settling, and transaction matching rules. In particular, each winner of the auction can gain transfer payments according to his contribution to social welfare in the electricity market, and this gives the mechanism the ability to control the market power of some participants. At the same time, this mechanism ensures that the market organizer balances his budget. We then conduct a theoretical and empirical analysis based on the Spanish electricity market. Both of the results show that compared to the uniform-pricing mechanism, the new mechanism can reduce market power of participants and enhance the social welfare of the electricity market. (author)
[en] Providing indigenous communities with electricity services requires an understanding of preferences to ensure that electrification schemes are congruent with the communities’ specific development pathways. We contribute to the literature by using a choice experiment to rank and quantify household preferences for electricity services in two indigenous villages in Sarawak, Malaysia. Specifically, we disaggregated electricity services into five attributes: private use for household appliances and lighting, public use for community facilities, productive use for income generation, the operator model and the monthly tariff. We found that the most value was placed on the operator-model underpinning the provision of electricity services and that there was a strong preference for a community-based model over a utility-based model. Interestingly, our results suggest that the preference for a community-based operator model may be related to the experience of using electricity for productive uses. We contend that our results demonstrate the importance of social and institutional challenges to providing electricity services to indigenous communities in Sarawak and highlight the need for the state utility to engage with indigenous communities to overcome these challenges. - Highlights: • We quantify indigenous community preferences for electricity services. • Our results demonstrate the social and institutional challenges in Sarawak. • Suggest the need for the state utility to engage with indigenous communities.
[en] This paper outlines a novel general framework for analysing energy diversity. A critical review of different reasons for policy interest reveals that diversity is more than a supply security strategy. There are particular synergies with strategies for transitions to sustainability. Yet - despite much important work - policy analysis tends to address only a subset of the properties of diversity and remains subject to ambiguity, neglect and special pleading. Developing earlier work, the paper proposes a more comprehensive heuristic framework, accommodating a wide range of different disciplinary and socio-political perspectives. It is argued that the associated multicriteria diversity analysis method provides a more systematic, complete and transparent way to articulate disparate perspectives and approaches and so help to inform more robust and accountable policymaking.
[en] An efficient electricity double-sided auction mechanism should control market power and enhance the social welfare of the electricity market. Based on this goal, the paper designs a new double-sided auction mechanism. In the new mechanism, the social welfare contribution of each participant plays a pivotal role, because this contribution is the critical factor in market clearing, payment settling, and transaction matching rules. In particular, each winner of the auction can gain transfer payments according to his contribution to social welfare in the electricity market, and this gives the mechanism the ability to control the market power of some participants. At the same time, this mechanism ensures that the market organizer balances his budget. We then conduct a theoretical and empirical analysis based on the Spanish electricity market. Both of the results show that compared to the uniform-pricing mechanism, the new mechanism can reduce market power of participants and enhance the social welfare of the electricity market.
[en] The literature on natural resource scarcity indicators is reviewed. Scarcity indicators can be classified by what is being measured: value of the resource stock or value of extracted resource commodities; whose value is considered: social vs. private scarcity; and by the mode of valuation considered: exchange value and use value. Prices and rents are common measures of exchange value or indicators of ''exchange scarcity'' and unit costs can be seen as use value indicators or indicators of use scarcity. The major aim of this paper is to demonstrate the links between productivity indicators such as unit costs and the classical concept of use value. The two classes of indicator relate to John Commons' discussions of scarcity and efficiency, and a marginal vs. a non-marginal approach to value and scarcity. The classical use value concept also has wider relevance for issues of valuation in energy, resource, and environmental policy. (author)
[en] Opposition to Mexico's nuclear reactors at Laguna Verde has grown during the last two years. The nuclear programme is blamed for being expensive and wasteful, and the decision to rely on the USA contradicts Mexico's espoused policy of greater independence from the USA. The way in which petroleum revenues were used to precipitate the nuclear option is compared with the lack of urgency given to renewable energy and greater energy efficiency. From a social and environmental perspective, as well as an economic one, Mexico's nuclear programme is judged expensive and irrelevant. (author)
[en] The Low-Income Home Energy Assistance Program (LIHEAP) is a federal block grant program established in 1981 to help low-income households meet a portion of their home energy costs. The manner in which LIHEAP funds are allocated to states, however, has been a contentious issue since the inception of the program. In 1984, the Health and Human Services developed a new formula to increase equity among the states by incorporating state cooling requirements in an equal weighting scheme with state heating requirements. In addition to the new distribution formula, various provisions were also included in the LIHEAP re-authorization amendment that specified when and how the 1984 formula could be employed. These provisions have turned out to be so constraining, however, that they have effectively disabled the 1984 formula. The purpose of this paper is to introduce realistic policy alternatives to the current LIHEAP allocation mechanism and to examine the impact of each alternative. Three options are discussed ranging from the complete elimination of the hold-harmless (HH) provisions to a proposal that maintains the primary HH provision but reduces the trigger level when it is enabled. A simple allotment block distribution based on mixing the two competing funding formulas is also considered. The models presented in this paper represent the first time that policy alternatives to the LIHEAP allocation mechanism has been examined within an analytic framework
[en] The restructuring of power sectors represents a very complicated process, which faces many obstacles such as public acceptance, economical and political interests of potential groups. This paper illustrates the complexity of an appropriate restructuring model taking into consideration the potential objections during the conceptualisation of the process. The paper emphasises that restructuring plans have to be generated by integrating the socio-economic character of the country and the international experience. Moreover, it presents a set of technical and financial efficiency indicators to evaluate the performance of the concerned entity and to compare it with the international benchmarks. Instead of photocopying a certain model of privatisation and deregulation, the article provides a restructuring design methodology for developing countries, where Lebanon is taken as a case study. The procedure should meet the requirements of a careful change management during the design and implementation phases. The steps of conceptualisation are demonstrated and are turned in an action plan of the Lebanese decision makers: how to turn ideas into reality by developing an appropriate restructuring process. (Author)
[en] This paper suggests that there was a negative bubble in oil prices in 2014/15, which decreased them beyond the level justified by economic fundamentals. This proposition is corroborated by two sets of bubble detection strategies: the first set consists of tests for financial bubbles, while the second set consists of the log-periodic power law (LPPL) model for negative financial bubbles. Despite the methodological differences between these detection methods, they provided the same outcome: the oil price experienced a statistically significant negative financial bubble in the last months of 2014 and at the beginning of 2015. These results also hold after several robustness checks which consider the effect of conditional heteroskedasticity, model set-ups with additional restrictions, longer data samples, tests with lower frequency data and with an alternative proxy variable to measure the fundamental value of oil. - Highlights: •There was a negative bubble in oil prices in 2014/15. •This bubble decreased oil prices beyond the level justified by economic fundamentals. •Several bubble detection methods confirm this evidence.
[en] Hydroelectric power is the cheapest source of energy, renewable and environmentally benign during running. Yet environmental activitism has obstructed hydrodevelopment throughout the world, and more so in India. The paper calls for a realistic economic-environmental trade-off and improvements in environmental decision making apparatus. (author)