Results 1 - 10 of 10804
Results 1 - 10 of 10804. Search took: 0.034 seconds
|Sort by: date | relevance|
[en] This paper presents the historical development of Turkey's electricity power sector, the efforts for introducing competition in the power industry in Turkey, and the concerns regarding restructuring in Turkey. The contribution of the hydropower energy potential in Turkey to the reconstruction of the electricity structure in Turkey is also investigated. Then, among the 25 hydrological basins in Turkey, the Eastern Black Sea Basin located in the northeast of Turkey, which has great advantages from the view point of small hydropower potential or hydropower potential without storage, is chosen as the case study to carry out some investigations concerning its potential and to analyze the contribution of the private sector (the corporate body) in regard to the development of hydro potential in this basin within the scope of the 4628 Electricity Market Law. With this law, concerning the restructuring of the electricity market, private sector investments in this segment have increased. In total, 1524 hydroelectric power projects with 22 360 MW installed capacity has been implemented until January 22nd, 2009 and this figure is continuously rising. (author)
[en] Exploratory scenarios for the power sector in Nigeria are analysed in this paper using possible pathways within the Nigerian context and then compared against the Government's power expansion plan in the short to medium term. They include two fossil-fuel (FF and CCGT) and two sustainable-development-driven scenarios (SD1 and SD2). The results from the FF scenarios indicate this is the preferred outcome if the aim is to expand electricity access at the lowest capital costs. However, the annual costs and environmental impacts increase significantly as a consequence. The SD1 scenario, characterised by increased penetration of renewables, leads to a reduction of a wide range of environmental impacts while increasing the annual costs slightly. The SD2 scenario, also with an increased share of renewables, is preferred if the aim is to reduce GHG emissions; however, this comes at an increased annual cost. Both the SD1 and SD2 scenarios also show significant increases in the capital investment compared to the Government's plans. These results can be used to help inform future policy in the Nigerian electricity sector by showing explicitly the range of possible trade-offs between environmental impacts and economic costs both in the short and long terms. (author)
[en] The objective of this paper is to investigate the co-movement of food prices and the macroeconomic index, especially the oil price, by principal component analysis to further understand the influence of the macroeconomic index on food prices. We examined the food prices of seven major products: eggs, meat, milk, oilseeds, rice, sugar and wheat. The macroeconomic variables studied were crude oil prices, consumer price indexes, food production indexes and GDP around the world between 1961 and 2005. We use the Scree test and the proportion of variance method for determining the optimal number of common factors. The correlation coefficient between the extracted principal component and the macroeconomic index varies between 0.87 for the world GDP and 0.36 for the consumer price index. We find the food production index has the greatest influence on the macroeconomic index and that the oil price index has an influence on the food production index. Consequently, crude oil prices have an indirect effect on food prices. (author)
[en] In view of having a still unexploited potential of natural resources available for clean energy and the possibility of using the regional electricity market in Central America, Honduras has several potential energy sources. The growing dependence on oil and the imminent increase in international prices of fossil fuels, coupled with the necessity of changing the energy sector arrangement, the State of Honduras has taken the lead for the development of a long-term sustainable energy policy. This energy policy must be able to develop various energy sources and guide both, the government and the private sector, to the planning and development of alternative energy sources and sustainable growth of the Honduran economy. In this paper, the various energy diagnoses and the potential for changing the Honduran energy mix are presented, as well as the investment required for sustainable management of the energy sector. Furthermore, the objectives of the energy policy and plan up to the year 2030 are presented, outlining the investment possibilities for the energy sector development, showing their costs and timeframes. - Research Highlights: → This paper shows the development of a long-term energy policy for Honduras. → The various diagnoses of the energy sector in Honduras are shown, considering the use of wood, biomass, biofuels, electricity, transportation, hydrocarbons and rural electrification. → The most relevant results of the analysis of energy forecasting are shown, for which the LEAP software was used. → The objectives of the energy policy and plan up to the year 2030 are presented, outlining the investment possibilities for the energy sector development, showing their costs and timeframes.
[en] have examined a synergy effect between electricity and gas services in the US electric utility industry. They have compared electricity-specialized firms with diversified utility firms in their financial performance and corporate value. A problem of their study is that it has not empirically measured the operational performance of the electric utility firms. As an extension of the preceding study, this research investigates the operational performance of 104 US electric utility firms (1990-2004) by fully utilizing DEA (Data Envelopment Analysis). This study finds the three new policy implications. First, the synergy effect has not existed in the operational performance of diversified utility firms before and after the deregulation on the US electricity markets. Thus, core business concentration is more effective for electric utility firms than corporate diversification to enhance their operational performance under the current US deregulation policy. Second, the operational performance has had an increasing trend until 1996 and a decreasing trend after 1996. Thus, the US deregulation policy has been influential on their operational performance. Third, the enhancement in operational performance of electric utility firms has improved their financial performance. The improvement in financial performance has increased their corporate value. Thus, this study finds the business causality among operational performance, financial performance and corporate value in the US electric utility industry. - Research Highlights: →The synergy effect has not existed in the operational performance of diversified utility firms before and after the deregulation on the US electricity markets. →Core business concentration is more effective for electric utility firms than corporate diversification to enhance their operational performance under the current US deregulation policy. →The operational performance has had an increasing trend until 1996 and a decreasing trend after 1996. →The US deregulation policy has been influential on their operational performance. →The enhancement in operational performance of electric utility firms has improved their financial performance. →The improvement in financial performance has increased their corporate value.
[en] This paper analyzes the value and cost of line-pack flexibility in liberalized gas markets through examination of the techno-economic characteristics of gas transport pipelines and the trade-offs between different ways to use the infrastructure: transport and flexibility. Line-pack flexibility is becoming increasingly important as a tool to balance gas supply and demand over different periods. In the European liberalized market context, a monopolist unbundled network operator offers regulated transport services and flexibility (balancing) services according to the network code and balancing rules. Therefore, gas policy makers should understand the role and consequences of line-pack regulation. The analysis shows that the line-pack flexibility service has an important economic value for the shippers and the TSO. Furthermore, the analysis identifies distorting effects in the gas market due to inadequate regulation of line-pack flexibility: by disregarding the sunk costs of flexibility in the balancing rules, the overall efficiency of the gas system is decreased. Finally, the analysis demonstrates that the actual costs of line-pack flexibility are related to the peak cumulative imbalance throughout the balancing period. Any price for pipeline flexibility should, therefore, be based on the related trade-off between the right to use the line-pack flexibility and the provision of transport services. - Research Highlights: →Line-pack flexibility is a main gas balancing instrument. →Capacity related costs of line-pack flexibility depend on peak cumulative imbalances. →Line-pack pricing rules determine choice between ex ante and ex post balancing. →Inefficient line-pack regulation causes gas market distortions.
[en] This paper identifies some sustainable and technically feasible alternatives for electric exchange through interconnections among the electric systems of Bolivia, Chile, Colombia, Ecuador and Peru. In particular, we assess such interconnections from both technical and economic perspectives, and identify the main technological, commercial and regulatory barriers for their development. The analysis is carried out at the pre-feasibility level from both private and social point of views, based on the assessment of different investment alternatives in the transmission systems among the aforementioned countries. We show that, even when keeping the security and self-sufficiency of the power system of every country (i.e., when not altering the generation expansion plans of the countries), the proposed interconnections have significant economic benefits in the long run. These benefits come from the supply side, the demand side, the system-cost savings and the environmental side. We also analyze the commercial and regulatory issues that must be addressed to accelerate the regional energy integration, and provide some policy recommendations. - Research Highlights: → This paper identifies some alternatives for electric exchange. → It considers interconnections among the power systems of Bolivia, Chile, Colombia, Ecuador and Peru. → The proposed interconnections have significant economic benefits in the long run. → Benefits come from the supply side, demand side, system-cost savings and environmental side. → We also analyze the commercial and regulatory issues.
[en] This article studies the price relationships between EU emissions allowances (EUAs) - valid under the EU Emissions Trading Scheme (EU ETS) - and secondary Certified Emissions Reductions (sCERs)-established from primary CERs generated through the Kyoto Protocol's Clean Development Mechanism (CDM). Given the price differences between EUAs and sCERs, financial and industrial operators may benefit from arbitrage strategies by buying sCERs and selling EUAs (i.e. selling the EUA-sCER spread) to cover their compliance position as industrial operators are allowed to use sCERs towards compliance with their emissions cap within the European system up to 13.4%. Our central results show that the spread is mainly driven by EUA prices and market microstructure variables and less importantly, as we would expect, by emissions-related fundamental drivers. This might be justified by the fact that the EU ETS remains the greatest source of CER demand to date. - Research Highlights: → This paper provides a thorough analysis of Phase II drivers for EUAs and CERs. → The empirical results show that the EUA-sCER spread shares some of the drivers for EUAs and CERs. → Most importantly, the EUA-sCER spread is found to be explained by microstructure variables. → Therefore, the paper suggests that the EUA-sCER spread is mainly used for arbitrage purposes.
[en] The Western Renewable Energy Zone (WREZ) initiative brings together a diverse set of voices to develop data, tools, and a unique forum for coordinating transmission expansion in the Western Interconnection. In this paper we use a new tool developed in the WREZ initiative to evaluate possible renewable resource selection and transmission expansion decisions. We evaluate these decisions under a number of alternative future scenarios centered on meeting 33% of the annual load in the Western Interconnection with new renewable resources located within WREZ-identified resource hubs. Our analysis finds that wind energy is the largest source of renewable energy procured to meet the 33% RE target across nearly all scenarios analyzed (38-65%). Solar energy is almost always the second largest source (14-41%). We find several load zones where wind energy is the least cost resource under a wide range of sensitivity scenarios. Load zones in the Southwest, on the other hand, are found to switch between wind and solar, and therefore to vary transmission expansion decisions, depending on uncertainties and policies that affect the relative economics of each renewable option. Further, we find that even with total transmission expenditures of $17-34 billion these costs still represent just 10-19% of the total delivered cost of renewable energy. - Research highlights: → We describe a new tool to evaluate transmission expansion and renewable resource selection. → We examine a scenario where 33% of the energy in the Western Interconnection comes from renewables. → Wind energy provides the majority of new renewable energy. → For some loads, the decision to procure wind and the required transmission is insensitive to assumptions. → For other loads, assumptions can shift toward more solar, which also changes the needed transmission.
[en] This paper compares the incentives a carbon dioxide emissions price creates for investment in low carbon dioxide-emitting technologies in the electricity sector. We consider the extent to which operational differences across generation technologies - particularly, nuclear, wind and solar photovoltaic - create differences in the incentives for new investment, which is measured by the operating profits of a potential entrant. First, astylized model of an electricity system demonstrates that the composition of the existing generation system may cause electricity prices to increase by different amounts over time when a carbon dioxide price is imposed. Differences in operation across technologies therefore translate to differences in the operating profits of a potential entrant. Then, a detailed simulation model is used to consider a hypothetical carbon dioxide price of $10-$50 per metric ton for the Electric Reliability Council of Texas (ERCOT) market. The simulations show that, for the range of prices considered, the increase in electricity prices is positively correlated with output from a typical wind unit, but the correlation is much weaker for nuclear and photovoltaic. Consequently, a carbon dioxide price creates much stronger investment incentives for wind than for nuclear or photovoltaic technologies in the Texas market. - Highlights: → Compare incentives for new investment in low-emission electricity technologies created by carbon dioxide price. → Focus on ERCOT power system using stochastic unit commitment model. →Find a greater incentive for wind than solar or nuclear because of correlation between wind generation and increase in electricity prices.