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Curzon, Price John Anthony. "Modeling for market design : methodology and case studies from energy markets." Thesis, University College London (University of London), 2002. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.408129.
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Bower, John. "An agent based analysis of the sources of market power in deregulated electricity markets." Thesis, London Business School (University of London), 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.272099.
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Persson, Johannes. "Low-energy buildings : energy use, indoor climate and market diffusion." Doctoral thesis, KTH, Energiprocesser, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-143480.
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Low-energy buildings have, in recent years, gained attention and moved towards a large-scale introduction in the residential sector. During this process, national and international criteria for energy use in buildings have become stricter and the European Union has through the Energy Performance of Buildings Directive imposed on member states to adapt their building regulations for ‘Nearly Zero Energy Buildings’, which by 2021 should be standard for new buildings. With a primary focus on new terraced and detached houses, this thesis analyses how the concept of low-energy buildings may be further developed to reduce the energy use in the residential sector. The main attention is on the technical performance in terms of indoor climate and heat consumption as well as on the market diffusion of low-energy buildings into the housing market. A multidisciplinary approach is applied, which here means that the concept of low-energy buildings is investigated from different perspectives as well as on different system levels. The thesis thus encompasses methods from both engineering and social sciences and approaches the studied areas through literature surveys, interviews, assessments and simulations. The thesis reveals how an increased process integration of the building’s energy system can improve the thermal comfort in low-energy buildings. Moreover, it makes use of learning algorithms – in this case artificial neural networks – to study how the heat consumption can be predicted in a low-energy building in the Swedish climate. The thesis further focuses on the low-energy building as an element in our society and it provides a market diffusion analysis to gain understanding of the contextualisation process. In addition, it suggests possible approaches to increase the market share of low-energy buildings.QC 20140321
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Lee, Shu-Kam. "The market for energy in China." Thesis, University of Stirling, 1999. http://hdl.handle.net/1893/851.
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Since 1979, China embarked on an economic reform to modernize the country. The reform was so successful that China was able to grow by an impressive rate of 9 percent per anum between 1979 and 1997. The rapid development of the economy leads to a drastic increase in demand for energy. Since China has the largest population in the world, its energy demand is nothing but huge. Each year, for example, China needs to install as much as 10,000 MW of new electricity generation capacity, which equals the curent capacity of Netherlands. This increase in demand for energy, which is likely to continue, wil have implications for global energy markets, the world price of energy and for the global environment as emissions of greenhouse gases grow rapidly. Against this background, there is an urgent need for the country to better manage the energy sector so that the market can function in an orderly manner. To tackle this issue, I single out three important energy problems to study. First, I wil examine the current situation of the energy imbalance in China. Second, I wil forecast how rapid the energy demand wil grow in future so that the deficit between the demand and domestic supply can be identified. Lastly, I wil discuss some methods that can be used to manage the demand. My finding shows that energy-capital and energy-material inputs are complementary, whereas the relationship of energy and labour is insignificant. In addition, the simulation exercises also reveals that a high energy pricing policy might not be effective in mitigating the demand and in encouraging firms to employ labour intensive techniques. Also, rising energy prices may bring spiral inflation and deterioration in the balance of payments and foreign resources. Therefore, government should act cautiously when increasing energy prices.
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Micic, Uros. "Blockchain in the Swedish Energy market." Thesis, Uppsala universitet, Institutionen för geovetenskaper, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-452784.
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This research paper represents an investigation of blockchain applicability in the Swedish energy market. The paper also attempts to explore the numerous claims and benefits surrounding this technology. Overall, the blockchain platform presents an innovative opportunity for energy to be bought and sold on the market in a new way that is providing consumers with greater efficiency and control over their energy sources. The platform is also set to integrate different types of data such as energy prices, usage, marginal costs, legal compliances etc., with the purpose of providing a better service than the platforms that exist today. To investigate these claims, firstly, the blockchain technology, its purpose, and function is explained. Secondly, the paper explores relationship and application in the energy market. Existing literature has been examined in order to provide a foundation when it comes to technological application. Lastly, the Swedish energy market has been considered and if the technology would make a difference. The interviews with experts have been conducted to get an inside look into the actual reality of this technology. Overall, the experts did not have a strong word to give about the possible application of the technology in the Swedish energy market. The technology does have potential but it is simply in too early stages of development and the obstacles are more significant than the previously promised benefits.
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Lu, Chiang. "Forecasting for Energy Market Risk Management." Thesis, The University of Sydney, 2018. http://hdl.handle.net/2123/18889.
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We rely on information from forecasts to formulate optimal decisions every day with our limited resources. The operation of the power infrastructure relies on forecasts to maintain enough supply in the system and preserve desirable operational conditions. With the concern for climate change, the shift in energy source has been focused on integrating renewable energy into the power system. Due to the stochastic nature of solar and wind. Energy cannot be produced on demand. Improving forecasts on this variable is an increasing need for its greater acceptance as a viable and a reliable energy source. In addition, energy market traders and participants rely on modelling the electricity spot price characteristics to inform on their risk management policies, portfolio allocation and bid decisions. This thesis deals with forecasting for risk management in the electricity market. It is an investigation in forecasting the electricity spot price and wind farm power outputs. It studies the viability of using satellite images to formulate wind farm power forecasts using Convolutional Neural Networks and Recurrent Convolutional Neural Networks. Study on wind forecast errors in valuing the uncertainties in electricity spot price is also presented. The outcome of this study indicates that discriminatory features or relationships in satellite images does not lead to improved wind farm power forecasting. Wind forecast errors does not appear to have any relationship in estimating the electricity spot price. This study indicates difficulties in utilising satellite images to directly predicting the wind farm power output. However future work on this topic may provide information on the expected wind farm power forecast errors for application in developing probabilistic forecasts.
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Flora, Maria. "Essays on Energy Markets." Doctoral thesis, Università degli studi di Padova, 2018. http://hdl.handle.net/11577/3426701.
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In the general framework of the raising global environmental concerns, the energy market is facing the challenge of decarbonization. This translates in raising shares of renewable generation, in increasing competition, and in the need of having a reliable power system with security of supply during the process of low-carbon transition.
This thesis analyses some of the most relevant recent changes in the power market relatively to the European area, evaluating different measures that have been recently implemented, or whose implementation has been planned.
Specifically, it investigates the role and scope of the European Union Emission Trading System, its impact on the electricity generation sector and ways in which it could be more effective; it looks upon capacity markets, and, in particular, the pricing of reliability options; and, finally, it provides tools for a dynamic interconnector valuation in the context of the growing European market integration. Each theme is analyzed using different instruments, such as real option theory, Monte Carlo analysis and stochastic control theory.Nel contesto generale delle crescenti preoccupazioni per i problemi ambientali globali, il mercato energetico si trova a dover fronteggiare la sfida per la decarbonizzazione. Ciò si traduce in crescenti quote di produzione di energia tramite fonti rinnovabili, in crescente competizione e nella necessità di avere un sistema energetico affidabile durante la transizione verso un mercato dell’energia a minor impatto ambientale. Questa tesi analizza alcuni dei cambiamenti più rilevanti nel settore elettrico, relativamente all’area europea, valutando diverse misure che sono state messe recentemente in atto, o di cui è prevista l’implementazione. In particolare, analizza il ruolo e la portata del mercato europeo di emission trading, il suo impatto sul settore elettrico e le modalità con cui potrebbe aumentare la sua efficacia; esamina i cosiddetti mercati della capacità, e in particolare fornisce modelli per il prezzaggio di reliability options; infine, fornisce strumenti per una valutazione dinamica degli interconnettori, nel contesto di una crescente integrazione dei mercati europei. Ogni tema è trattato con strumenti differenti, quali la teoria delle opzioni reali, l’analisi Monte Carlo e la teoria del controllo stocastico.
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Nishi, Hirofumi. "Market Efficiency, Arbitrage and the NYMEX Crude Oil Futures Market." Thesis, University of North Texas, 2016. https://digital.library.unt.edu/ark:/67531/metadc862846/.
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Since Engle and Granger formulated the concept of cointegration in 1987, the literature has extensively examined the unbiasedness of the commodity futures prices using the cointegration-based technique. Despite intense attention, many of the previous studies suffer from the contradicting empirical results. That is, the cointegration test and the stationarity test on the differential contradict each other. In marked contrast, my dissertation develops the no-arbitrage cost-of-carry model in the NYMEX light sweet crude oil futures market and tests stationarity of the spot-futures differential. It is demonstrated that the primary cause of the "cointegration paradox" is the model misspecifications resulting in omitted variable bias.
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Lampret, Peter. "Economics of total energy schemes in the liberalised European energy market." Thesis, Sheffield Hallam University, 2007. http://shura.shu.ac.uk/19938/.
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This thesis is concerned with the liberalisation of the European Energy markets and the affects this has had on total energy systems. The work concentrates on a number of case studies all of which are located in the area surrounding Gelsenkirchen - Bottrop - Gladbeck, the centre of the Ruhr region of Germany. The thesis describes briefly how the legislation of the parliament of the extended European Union has been interpreted and enacted into German legislation and its affects on production, transport, sales and customers. Primarily the legislation has been enacted to reduce energy costs by having a competitive market while enabling security of supply. The legislation whose development has accelerated since 1999 can lead to negative effects and these have been highlighted for the case studies chosen. The legislation and technological advances, each of them successful by themselves, do not provide the expected reduction of carbon dioxide emissions when applied to total energy system. The introduction of human behaviour as a missing link makes the problems evident and gives a theoretical basis to overcome these problems. The hypothesis is proven by eight detailed research projects and four concisely described ones. The base of the research is the experience gained on approximately 1,000 operation years of the simplest total energy system, that of centralised heating. This experience is transferred to different solutions for total energy systems and their economics in combination with the changing legislation and observation of human behaviour. The variety of topics of the case studies includes the production of heat by boiler, solar or combined heat and power and the use of fuel cells. Additionally the transfer of heat, at the place of demand is considered, either as an individual boiler in a building or as de-centralised district heating. The various results of these projects come together in a final project which covers four different heating systems in identical buildings each with five apartments. Based on the experience described a schematic of the energy system is developed demonstrating the interdependence of actors within energy systems, the energy system itself and the outer frame which includes legislation and the environment. In parallel a financial solution is proposed for a future carbon dioxide free heating and hot potable water supply. To combine both systems a missing link that of human behaviour is introduced. This linkage requires changes of legislation which are described. The solution proposed enables future energy consumption and in parallel the reduction of carbon dioxide emissions.
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Demirdizen, Hasan Gence. "Market Development Of Renewable Energy In Turkey." Master's thesis, METU, 2013. http://etd.lib.metu.edu.tr/upload/12615440/index.pdf.
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Renewable energy is a current issue in the world as well as in Turkey. Turkey has developing policies in the renewable energy field. Although it is a beneficial mean of obtaining energy, there are barriers on renewable energy production. In order to develop renewable energies, those barriers have to be analyzed and suitable implementations should be developed to overcome them. In this thesis policy and implementation on the renewables are evaluated in general and specially for Turkey. The electricity market is one of the crucial factors of development of the renewable energy. The day-ahead market and renewable energy support mechanism in Turkey are investigated. Finally benefit calculations is carried out in order to compare benefits of renewable energy in market and support mechanisms by using real time price and production values of two renewable energy plantsa hydropower and a wind power plants. Further, outcomes of newly developed prediction project for wind power plants are evaluated in terms of market benefit.
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Kuang, Chen, Jin Ying, and Li Yumin. "Energy Crisis : wind Power Market in China." Thesis, Högskolan Kristianstad, Sektionen för hälsa och samhälle, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:hkr:diva-10865.
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Purpose/aim The aim is to explore which price policy of the Chinese wind power is the most suitable for the market. Design/methodology/approach Data has been collected through questionnaires. The analysis includes the statistical test in form of chi-square. Additionally the whole thesis followed the onion process put forward by Saunders. Findings The analysis showed that the price policy which is based on the local price of coal is more suitable for the market than the price policy decided by concession projects. Originality/value An original idea is given the relationship between ages, education levels and two policies. Further, the empirical data is collected from a comprehensive online-forum, so that the samples are randomly selected. The data shows that the businesses which want to enter the Chinese wind power market should choose the price policy which is based on the local price of coal. This choice should be useful in the real life.
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Alexander, Peter Mark William. "Modelling the UK perennial energy crop market." Thesis, University of Edinburgh, 2014. http://hdl.handle.net/1842/9645.
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Biomass produced from perennial energy crops, Miscanthus and willow or poplar grown as short-rotation coppice, is expected to contribute to UK renewable energy targets and reduce the carbon intensity of energy production. The UK Government has had incentives in place, targeting farmers and power plant investors to develop this market, but growth has been slower than anticipated. Market expansion requires farmers to select to grow these crops, and the construction of facilities, such as biomass power plants, to consume them. Farmer behaviour and preferences, including risk-aversion, are believed to be important to crop selection decisions. Existing research estimating the total potential resource has either only simplistically considered the farmer decision-making and opportunity costs, or has not considered spatial variability. No previous work has modelled the contingent interaction of farmers’ decisions with the construction of biomass facilities. This thesis provides an improved understanding of the behaviour of the perennial energy crop market in the UK, by addressing these limitations, to understand the spatial and temporal dynamics of energy crop adoption. It attempts to determine the factors that govern the rate and level of adoption, to quantify the greenhouse gas abatement potential, and to assess the cost effectiveness of policy mechanisms. A farm-scale mathematical programming model was implemented to represent the crop selection of a risk-averse farmer. This was applied using spatially specific data to produce maps and cost curves economic supply, for the UK. To represent the contingent interaction of supply and demand within the market, an agent-based model was then developed. The results indicate that perennial energy crop supply may be substantially lower than previously predicted, due to the time lags caused by the spatial diffusion of farmer adoption. The model shows time lags of 20 years, which is supported empirically by the analogue of oilseed rape adoption. Results from integrating a greenhouse gas emissions balance shows that directly supporting farmers, via establishment grants, can increase both the carbon equivalent emissions abatement potential and cost effectiveness of policy measure. Results also show a minimum cost of carbon abatement is produced from scenarios with an intermediate level of electricity generation subsidy. This suggests that there is a level of support for electricity generated from energy crops that reduces emissions in the most cost effective manner.
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Zhaozheng, Wang. "Solar energy market in China -Technology andChallenge." Thesis, Blekinge Tekniska Högskola, Avdelningen för elektroteknik, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:bth-13939.
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Nykänen, R. (Risto). "Emergence of an energy saving market:the rise of energy service companies." Doctoral thesis, Oulun yliopisto, 2016. http://urn.fi/urn:isbn:9789526213019.
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Abstract This study examines emerging service markets1 and creates a model to capture both the service provider’s activities within market development and the interplay between different market actors. This work aims to identify the key elements behind sustainable market development, specifically examining 1) market activities, 2) the role of innovation and 3) the necessary evolutionary factors, where a market consists of multiple buyers and sellers and comparable market offerings. The empirical part of the study is conducted in the form of a qualitative case study, which is used to analyse the dynamic nature of emerging market development. The study uses a multi-method approach to data collection to capture the market’s evolution and relationships between market actors. The study follows emerging energy saving market development taking the perspective of an Energy Service Company in Dubai. As the main outcome of the study, it is argued that the service provider needs to direct its activities to build those relationships necessary to gain market acceptance and a coherent market offering before it can truly exploit market opportunities. As a characteristic of an emerging market, different interpretations of an innovation increase market dynamics, which slows market acceptance. Therefore, the service provider’s innovation process needs to serve market needs first; later, when the market has evolved, the innovation process is divided into co-innovation and structured innovation. From the evolutionary point of view, many service markets need to be fostered by market actors, as well as needing government-built regulatory and market support mechanisms. This need is especially valid for services that have other societal goals beyond pure financial interests. For a new service provider, an understanding of emerging markets is essential to appropriately set expectations and to accurately plan for the timing and effort needed for market entry. 1 An emerging market in this study represents the market development phase that occurs when a market has been created. Markets are emerging everywhere regardless of country or other geographical area and should not be confused with developing country-related emerging marketsTiivistelmä Tämä väitöskirja tutkii uusien markkinoiden kehittymistä erityisesti palveluliiketoiminnan ympärille, ja luo mallin, jolla voidaan tarkastella tällaisia markkinoita ja niiden kehittymistä. Mallissa huomioidaan palvelun tarjoajan aktiviteetit markkinoilla sekä vuorovaikutus muiden toimijoiden kanssa. Tutkimuksessa tunnistetaan keskeiset kehitysvaiheessa olevien markkinoiden elementit: 1) markkina-aktiviteetit, 2) innovaatio ja 3) kehittymisen edistämiseen liittyvät tekijät. Mallin mukaan nämä ovat edellytyksenä sille, että markkinoille muodostuu riittävä määrä sekä myyjiä että ostajia, jotta palvelutarjonnasta muodostuisi vertailukelpoista. Tämän tutkimuksen empiirinen osa on suoritettu laadullisena tapaustutkimuksena, jossa analysoidaan markkinoiden kehittymisen dynamiikkaa. Jotta markkinan kehittymistä ja markkinatoimijoiden välistä vuorovaikutusta voidaan tarkastella samanaikaisesti, on tutkimuksessa kerätty sekä haastattelu- että havainnointiaineistoa. Tutkimuksessa on seurattu kehityksen alkuvaiheessa olevan energiansäästömarkkinan kehittymistä ns. ESCO-palvelun tarjoajan näkökulmasta Dubaissa. Tutkimus osoittaa, että markkinoiden kehittymiseksi palvelun tarjoajan täytyy ensin keskittyä luomaan suhteet muihin markkinatoimijoihin, jotta yhdessä voidaan saavuttaa markkinoiden luottamus ja luoda yhteneväinen tarjonta, ennen kuin kilpaillaan markkinaosuuksista. Eri toimijoiden erilaiset tulkinnat markkinainnovaatiosta lisäävät dynamiikkaa ja vaikeuttaa markkinan yleistä hyväksymistä, jotka yhdessä siten hidastuttavat markkinan kehittymistä. Näistä syistä palveluntarjoajan tulisi kohdistaa innovaatioprosessinsa palvelemaan markkinan kehitystarpeita ensin ja vasta myöhemmin se voi keskittyä hyödyntämään mahdollisuuksia yhteiseen ja sisäiseen innovaatioon. Monet palvelumarkkinat vaativat kehittyäkseen toimijoita joiden tehtävä on pelkästään keskittyä edistämään markkinan kehitystä luomalla yhteisiä sääntely- ja tukimekanismeja. Nämä toimija ovat usein valtiollisia, erityisesti silloin kun markkinalla on myös yhteiskunnallisia tavoitteita, taloudellisten tavoitteiden rinnalla. Kehittyvät markkinat ja niiden mahdollisuuksien hyödyntäminen uudelle palveluntarjoajalle on haasteellinen konteksti ja menestyminen edellyttää sekä odotusten että panostusten asettamista realistisesti, jotta kehittyvillä markkinoilla voidaan ylipäätään toimia
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Denton, Michael John 1955. "Market power in electric power markets: Indications of competitiveness in spatial prices for wholesale electricity." Diss., The University of Arizona, 1997. http://hdl.handle.net/10150/282522.
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The issue of market delineation and power in the wholesale electric energy market is explored using three separate approaches: two of these are analyses of spatial pricing data to explore the functional size of the markets, and the third is a series of experimental tests of the effects of different cost structures and market mechanisms on oligopoly strength in those markets. An equilibrium model of spatial network competition is shown to yield linear relationships between spatial prices. A data set comprising two years of spatial weekly peak and off-peak prices and weather for 6 locations in the Western States Coordinating Council and the Southwest Power Pool is subjected to a pairwise cointegration analysis. The use of dummy variables to account the the flow directions is found to significantly improve model performance. The second analytical technique utilizes the extraction of principal components from a spatial price correlation matrix to identify the extent of natural markets. One year of daily price observations for eleven locations within the WSCC is compiled and eigenvectors are extracted and subjected to oblique rotation, each of which is then interpreted as representing a separate geographic market. The results show that two distinct natural markets, correlated at 84%, account for over 96% of the variation in the spatial prices in the WSSC. Together, the findings support the assertion that the wholesale electricity market in the Western U.S. is large and highly competitive. The experimental analysis utilizes a radial three node network in which suppliers located at the outer nodes sell to buyers located at the central node. The parameterization captures the salient characteristics of the existing bulk power markets, and includes cyclical demand, transmission losses, as well as fixed and avoidable fixed costs for all agents. Treatments varied the number of sellers, the avoidable fixed cost structures, and the trading mechanism. Results indicated that sealed bid markets greatly reduced the ability of sellers to exert market power. Overall the existence of higher avoidable fixed costs tended to ameliorate market power effects.
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Lindemann, Henrik [Verfasser]. "Regulatory authorities and energy market liberalization / Henrik Lindemann." Hannover : Technische Informationsbibliothek und Universitätsbibliothek Hannover (TIB), 2015. http://d-nb.info/1067756647/34.
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SZCZERBACKI, CAROLINA FERREIRA. "ELECTRICAL ENERGY PRICE STRUCTURING FOR THE BRAZILIAN MARKET." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2007. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=10656@1.
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CONSELHO NACIONAL DE DESENVOLVIMENTO CIENTÍFICO E TECNOLÓGICOOs preços de energia elétrica, insumo básico para todo o Modelo Setorial, constituem uma das maiores incertezas do setor. Estas incertezas abrangem todos os elementos formadores de preços: a oferta, a demanda e as regras de mercado, tornando muitas vezes difícil ao agente a avaliação concreta e precisa do processo da formação de preços e do impacto que a variação de um dos elementos do processo produz no resultado final. O objetivo deste trabalho é apresentar a estrutura de formação de preços no mercado energético brasileiro de forma sistematizada, avaliando a composição das variáveis que afetam esta estrutura: a demanda por consumo, a expansão do sistema e as disponibilidades energéticas. O mercado é modelado em todos os seus detalhes físicos, e o cálculo é realizado a partir de todo o arcabouço regulatório, incluindo a reprodução do modelo de operação ótima responsável pelos preços de energia. Descreve-se inicialmente um modelo de previsão de demanda por subsistema, utilizando-se técnicas de Teoria de Análise Funcional. Focaliza-se em seguida o suprimento futuro de energia no país a partir da expansão da oferta. Finalmente, utiliza-se uma simulação da operação ótima do sistema a partir da reprodução dos resultados do modelo utilizado no setor - o Newave - a partir de uma implementação própria desenvolvida especialmente no escopo deste trabalho. De posse dos possíveis cenários futuros, pode-se mensurar o impacto que a variação de cada elemento formador (demanda, expansão e afluências) tem sobre os custos de energia. É possível observar que as incertezas nestas variáveis podem gerar grandes impactos nos custos marginais e, conseqüentemente, nos custos futuros de energia elétrica.
Energy Prices, essential input for the Sectorial Model, consist on the biggest uncertainties of the Electric Sector. These uncertainties enclose all price elements: the supply, the demand and the market rules, making sometimes difficult for the agents to evaluate the price process and the impact that the variation of each process element can produce on the result. The objective is to present Brazilian price process in a structuralized way, evaluating the variables composition that affects this structure: the demand, the electric system expansion and the energy supply availability. The market is modeled in all its physical details, and the calculation is done into the regulatory environment, including a reproduction of the optimal operation model responsible for energy prices. First, a demand forecast model is described, based on Functional Analysis Theory. Then, the focus is on the energy future supply, analyzing the supply expansion in Brazil. Finally, an optimal operation system is simulated, reproducing the sector model (Newave) results from an implementation developed in this work. From these possible future settings, each element (demand, expansion and energy supply availability) variation impact on energy prices can be measured. The simulations show that uncertainties about these variables can have big impacts on marginal costs and, consequently, on the energy future prices.
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Gutiérrez-Alcaraz, Guillermo. "Information requirements for strategic decision-making energy market /." [Ames, Iowa : Iowa State University], 2009.
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Celi, Luciano. "Modeling and communicating the dynamics of energy market." Doctoral thesis, University of Trento, 2019. http://eprints-phd.biblio.unitn.it/3704/1/copertina_tesi.pdf.
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The focus of my Ph.D. project is the investigation of the analogies between the dynamics of oil production, the economy and the physical laws that are related to every natural process. The difficulty to retrieve data on the oil market has suggested me that there is a correspondence in Science Communication: indeed, while in the magazines we find many articles that talk about climate change, for instance, we seldom met articles on related topics with keywords such as "energy resources" or "energy depletion".
I started to investigate the relationship between the phase-plot of worldwide oil production (1965-2014) and its price. My idea was that the laws regulating the convective intensity and the oil production on one side, and the energy flow in human society on the other, were similar. In particular, this analogy could be true for the change from a slow diffusion process to a faster convective movement.
In a first approximation, I tried to describe the phase-plot system in a theoretical way: I imagined the system without perturbations with a worldwide average EROI that varies from 60 (1965) to 15 (2014). Similarly, I picked up the value of world production in 1965 (1,567 Million ton/years) and the same value in 2014 (4,220 Million ton/years) and I assumed a constant increment of the production. Obviously, the phase-plot de-scribes the evolution of the real system and appropriately shows two evident "loops" in correspondence of the two major oil crises in recent times (in the '70s of the last century and in the '10s of the current century), although it is also apparent a "background" (or floor) price the system has never overcome.
Following the idea of a possible description of the global oil market trend as a dynamical system, I investi-gated the eventual analogies between oil market and a classical dynamical system which is well known to exhibit an almost doubly cyclic behavior, i.e., the Lorentz attractor.
However, this suggestion remained nothing better than that, because the major criticism is that it is rather difficult to conceive that only two loops in a phase-plot could be assimilated tout court to a Lorenz attractor: the investigated period 1965-2014 is in fact too short to validate such an analogy. Therefore, the output of the research was an article deposited it in the arXiv online repository .
The relationship between natural phenomena and price-production dynamics of oil extraction, however, could be seen from another point of view. Indeed, the phase-plot, behind the "random walk" initially de-scribed as a Lorenz attractor, suggested us two peaks in correspondence with the upper part of those loops. This "swinging" (macro)behavior is rather similar to that of the theoretical model where we only have two stocks of oil and two prices for them: the first delimited by a price of 100 $/barrel, for a production that re-mains between 0 and 1,000 barrels/day; the second with a cost of 200 $ for a production in the range 1,000-1,500 barrels/day. In this ideal case, following the consumption, we expect the same swinging behavior: if the consumption is in the range between 0 and 1,000 barrels/day, the oil at the lower price will be only used, with a price (ideally) of 100 $/barrel. Since consumption generally grows, the economic system reach-es a point in which it needs to use the second stock of oil at the higher price. As the oil is a global commodi-ty, the price of all oil is determined by the marginal oil barrel, that is to say by the most expensive one (200$). In this ideal dynamics, the price suddenly jumps to the higher level instead of slowly shifting up. If the oil price increases, however, the consumption decreases and, sooner or later, the society comes back to the previous range of extraction intensity. The main characteristic of the simple oil-price dynamics here de-scribed is that there are two rapid movements on the cycle (rise and descent of the price) and two slow movements (consumption that goes up and down, to adapt to the oil price). At this level could be useful in terms of EROI instead of oil stocks (with high and low prices). Therefore, natural variables seem to be more similar to medium price and medium EROI (fast the former, slow the latter).
The Lotka-Volterra equations describe the prey-predator ecological mechanisms and many cases are well known and well-studied. One of them seems to have the same features of the simple oil market behavior just described. More specifically, the analogy is between a prey, the American spruce, and a predator, the caterpillars of the species Choristoneura fumiferana that feed on the spruce. The caterpillar population is regarded as the fast variable, since there are periodically observed demographic outbreaks of this species, considered a real scourge , whereas the spruce leaf whole surface is assumed to be the slow variable be-cause the regeneration of the leaves - and not only - is a process that lasts several decades.
This dynamic model requires a good evaluation of the worldwide EROI for the oil. This is, in any case, fun-damental as an index of the energy quality used by the society. This is the reason why the EROI is crucial to determine the goodness of an energy resource in general and particularly for oil and gas, that nowadays sat-isfy about 57% of primary energy demand .
This dimensionless index is generally defined as the ratio between the energy extracted from a given re-source and the energy costs sustained to get that energy. In a following step of my research, I tried to set up an alternative method for the calculation of the EROI of oil companies. The difficulties to retrieve the data by the oil companies is notorious, thus the strategy consisted in using as a proxy of the energy costs, i.e. the available data about the CO2 emissions of the same oil companies, as reported in their own sustainability reports (SRs). International organizations such as IPCC and WBCSD recommend to the involved companies to compile these reports, but they are not mandatory. The second step was to use, as a proxy of the energy ex-tracted, the CO2 emissions estimate obtained by a stoichiometric conversion of the oil production declared by the oil companies.
The resulting estimates of EROI are rather homogeneous and not too different from the values reported in the literature. The method could be suitable for year-by-year comparison of the time evolution of this im-portant energy quality parameter for the individual energy-producing and energy-delivering companies . I defined this parameter as the "corporate's EROI".
In particular, this last work had its main difficulty in finding data to make comparisons between the different oil companies. As mentioned above, this is also reflected in the communication sector. If we look at the fol-lowing diagram, we can discover, for example, the differences between related argument ("climate change") and keywords like "energy resource" or "energy depletion". The graph includes all the terms worldwide for the last year (October 1st, 2017 - October 1st, 2018) . I am personally committed to filling the gap (thanks to my previous background in Science Communication), to sensitize the citizenship to the energy transition problem and last year, at the Bright event (European Researchers’ Night) I have developed a game about the Hubbert oil peak to play with people and explain to them the dynamics of peak and resource depletion.
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Dario, Ugo <1986>. "Forecasting energy market: an artificial neural network approach." Master's Degree Thesis, Università Ca' Foscari Venezia, 2015. http://hdl.handle.net/10579/5810.
Full textAbstract:
Artificial Neural Network as a universal function approximators can be used
for mapping any nonlinear function. Used in different fields of
application (congnitive science, engineering, biology, finance..), ANN have become
popular in finance for their power in pattern recognition, classification
and forecasting. This paper specifically examines the used of ANN in the energy
market in order to build a forecast price on the energy commodities.
A brief study on the feature of the energy market, in particular crude oil and
natural gas prices, will be followed by an implementation of an ANN system
for the forecast. Finally a comparison between a real and estimated price
will be done to see if the ANN could be considered a good forecasting tool also in
the energy market.
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Tatum, Shaun Wesley Jackson John D. "The ethanol market an econometric inquiry into the market for E85 /." Auburn, Ala., 2007. http://repo.lib.auburn.edu/2007%20Fall%20Theses/Tatum_Shaun_38.pdf.
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Clark, Steven James. "A market entry strategy of Metso for the biomass-based power generation solutions market in South Africa." Thesis, Stellenbosch : Stellenbosch University, 2011. http://hdl.handle.net/10019.1/80475.
Full textAbstract:
Thesis (MBA)--Stellenbosch University, 2011.The global energy industry is actively moving toward renewable energy sources in order to meet the ever-increasing demand for energy in a sustainable manner. The South African government, however, has only recently begun creating an environment which is truly conducive to investment into the renewable energy industry. Metso, a Finnish multi-national corporation, has a strong global position in the field of biomass-based power generation for heat, power or combined heat and power applications. The corporation has developed a modular biomass-based power generation solution for power generation in the 3MW to 10MW range, which is highly automated and can essentially operate without the need for extensive human intervention and is known as the Metso Bio-energy Solution. Considering the current state of the South African energy environment, Metso management requested the researcher to investigate the opportunities that exist in the South African market for Metso’s Bio-energy Solution, and to propose a market entry strategy which Metso should follow in order to enter the South African market. In the findings, the researcher observed that South Africa has a clear potential for the development of a bio-energy industry for power generation, although the limited availability of biomass in certain regions and the various harvesting methods in industries such as the forestry and sugar industries do restrict the access to this resource. The municipal solid waste industry appears to be an area of interest as well, although very little information exists regarding the volumes of waste available and sorting practices, which may be required in order to access these resources. Interviews were held with experts in the field of energy, renewable energy and energy policy in order to obtain opinions on the market potential for Metso’s Bio-energy Solution. The general perception of all interviewees was that the technology has its place within the South African energy mix. The interviewees, however, did confirm that there currently appears to be a major focus on wind and solar energy in the country, although biomass technology may well be a better solution due to its baseload capabilities. It was found that the local policy environment, the lack of government initiative on renewable energy licensing and unclear tariff structures have all inhibited the proliferation of the renewable energy industry. In many cases, frustration with power outages and policy delays has caused companies to invest in biomass co-firing facilities for their own consumption. The factors for success for biomass-based technologies in the South African market would appear to be directly linked to job creation potential, access to reliable and sustainable biomass resources and access to investment capital, from both private equity and the state. It is the recommendation of the researcher that Metso enters into a joint venture with a large international environmental finance company, which would base their business model on the technology provided by Metso, whilst securing the political and financial support for projects of this nature in the country.
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Khorasany, Mohsen. "Market design for peer-to-peer energy trading in a distribution network with high penetration of distributed energy resources." Thesis, Queensland University of Technology, 2020. https://eprints.qut.edu.au/135559/1/Mohsen_Khorasany_Thesis.pdf.
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This thesis examines different market structures for peer-to-peer (P2P) energy trading. Different market clearing mechanisms are designed for market settlement, including auction-based method, distributed optimisation, and decentralised market clearing. Also, price signals are introduced to model network constraints in any individual transaction in the electricity market. Moreover, a segmentation method is proposed to enhance the scalability of the P2P markets, using the clustering method.
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Li, Yu-Hsuan. "Competitiveness in Power System Frequency Regulation Markets : Competitive analysis of the FCR-D up regulation market in Sweden." Thesis, KTH, Energiteknik, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-300745.
Full textAbstract:
The growing share of weather-dependent power generation in the Swedish power system is challenging the stability of the whole system. Therefore, the need to increase system flexibility by frequency regulation reserves is enlarged. Nowadays, the reserves are mainly supplied by Hydropower. The TSO, Svenska kraftnät, is opening the market to attract new participants to provide the balancing capacity to increase the competition between resources and change the market dynamics. This thesis explores the potential of four different technologies in the future FCR-D upregulation market: Hydropower, Wind power, battery energy storage systems (BESS) and demand response (DR). A FCR-D upregulation market-clearing model has been built with logical cost calculation and volume estimation of each actor in the FCR-D market. Sensitivity analysis and the market-clearing model have been conducted through Python software. Based on the scenario selection method, this research provides an overview of the future FCR-D upregulation market with the participation of new actors. The results show that the availability for FCR-D up market of some Hydropower actors has decreased over the years. The Wind power has the highest cost among the studied technologies and the costs of the BESS and DR are competitive. Besides, in high spot price years, the bids from BESS and DR have higher chance to be accepted which creates opportunities to attract new actors to join the market. The new actors' introduction could lower the average FCR-D clearing prices from 19.3 - 70.7 % from 2016 - 2020. Finally, from the volume change scenario, the BESS and DR actors are found to be the price-makers that could influence the FCR-D price with rising available volume.Den växande andelen väderberoende kraftproduktion i det svenska elsystemet utmanar stabiliteten i hela systemet. Därför växer behovet av att öka systemflexibiliteten genom än mer frekvensregleringsresurser. Numera hanteras frekvensreglering främst av vattenkraft, men Svenska kraftnät (Sveriges systemoperatör), öppnar marknaden alltmer för att locka nya deltagare, för att ge mer balanseringskapacitet och för att öka konkurrensen mellan resurser samt för att förstärka marknadsdynamiken. Detta examensarbete undersöker potentialen för fyra olika tekniker för den framtida stödtjänsten uppreglering för frekvenshållningsreserv för störd drift (FCR-D): vattenkraft, vindkraft, batterilagringssystem och laststyrning (konsumtionsminskning). En modell för klarering av FCR-D uppreglering har byggts upp med logisk kostnadsberäkning och volymuppskattning för varje aktör på FCR-D-marknaden. Känslighetsanalys och marknadsklarerings-modellen har genomförts i Python-programvara. Baserat på scenarievalsmetoden ger denna forskning en överblick över den potentiella framtida FCR-D uppregleringsmarknaden med deltagande av nya aktörer. Resultaten visar att tillgängligheten för FCR-D-marknaden för vissa vattenkraftaktörer har minskat genom åren. Vindkraften har den högsta kostnaden bland de studerade teknikerna medan kostnaderna för batterilagringssystem och laststyrning är konkurrenskraftiga. Dessutom har buden från batterilagringssystem och laststyrning under perioder med höga spotpriser större chans att bli accepterade, vilket skapar möjligheter att locka nya aktörer att gå med på marknaden. De nya aktörernas entré kunde ha sänkt genomsnittliga FCR-D klareringspriser med 19,3 till 70,7 % för perioden 2016 till 2020. Slutligen visar volymändringsscenariot att batterilagringssystem och laststyrning -aktörerna kan påverka FCR-D-priset med stigande tillgänglig volym.
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Ma, Hengyun. "China’s Energy Economy: Reforms, Market Development, Factor Substitution and the Determinants of Energy Intensity." Thesis, University of Canterbury. Economics and Finance, 2009. http://hdl.handle.net/10092/2739.
Full textAbstract:
The ongoing transition of former communist countries from planned to market economies has been one of the most important economic phenomena in the last few decades. Among these, China is one of the largest and fastest growing emerging economies in the world since the reforms initiated in the late 1980s. China’s economic growth has been phenomenal.
Therefore, understanding China’s energy economy is crucial in the new millennium for politicians, businessmen and energy economists. In particular, China’s energy policy directions will bring about both challenges and opportunities to the world in terms of an increasing share of primary energy consumption and investment in the energy industry. However, after surveying the literature, it is surprising to find that a few major areas of China’s energy economics are missing and the views on China’s energy economics are already out dated. Therefore, given the size and growth of its economy and the effect of its energy consumption on global energy markets, reviewing China’s energy situation and filling the missing literatures are essential for those who are interested in and concerned about China’s economic development in the new millennium.
This study was motivated after conducting a survey of the literature on the study of China’s energy economy and reviewing China’s energy situation in the new millennium. The goal of the research is focused on providing readers the most important and the newest information on China’s energy economy. The study consists of three introductory sections and three core sections. The former includes a survey of literature, China’s energy situation in the new millennium, institutional evolution and changing energy prices. The latter includes tests for the emergence of an energy market in China, factor substitution and demand for energy, and technological change and the determinants of energy intensity.
The main findings are as follows. China’s energy economy is still underdeveloped. It is crucial to review China’s energy situation in the new millennium. Energy, industrial deregulation and price reforms have been fast in China since the early 1990s. Empirical investigations have found evidence for the emergence of an energy market economy in China. The estimates demonstrate that there appears to be significant substitution possibilities between energy and labor when compared with international findings. Significant effects of substitution mainly come from the adoption of labor-intensive technology. Coal and electricity are significantly substitutable, while the demand for energy is elastic, in general. Finally, decomposing energy intensity shows that the budget constraint (a kind of price effect) reduces energy intensity while technological change increases energy intensity.
These findings bring us to the following major implications. Firstly, it is important to understand the potential effect of new energy regulation and pricing mechanism on the future directions of China’s energy economy, which suggests that former predictions of China’s energy demand may have to be significantly discounted, and the potential effect on the global energy markets and emissions may need to be re-evaluated. Secondly, significant substitution between energy and labor is potentially good news as China possesses some of the most abundant labor sources in the world. However, because capital more easily substitutes for energy than labor, more policy incentives are needed for labor to substitute for energy. Thirdly, significant substitution between coal-electricity suggests that the effects of environmental taxes, however, may be smaller than expected due to the fact that most primary energy coming from coal. Also any shift from coal to electricity implies more investment in transmission lines rather than railways. Fourthly, energy constraints on energy supply may only slightly impede economic growth in China because the elasticity of substitution between energy and other factors is quite large compared to internationally. Fifthly, while many factors are responsible for the inelasticity of demand for energy, rising income may be one of the most important given the high levels of energy prices. Increasing energy prices may be unable to constrain energy consumption at present. Thus other energy policies need to be considered to encourage or depress certain types of energy consumption. Finally, reducing exports of energy-intensive commodities, reducing the high-level energy-using sectors, lowering capital investment and constraining imports of second-hand and obsolete equipment, would all help reduce growth in energy intensity. Politically, however, this may be at an unacceptable cost to economic growth.
Although this study has conducted a series of investigations into the institutional changes and consumption behavior of China’s energy economy, continuous updating required as more data is continually added in a highly dynamic and changing environment.
JEL Classifications: D24, O33, Q41.
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Linh, Nguyen Thuy, and Menuet Maite. "Consumers' switching behaviour in the new Swedish energy market." Thesis, Mälardalens högskola, Akademin för hållbar samhälls- och teknikutveckling, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:mdh:diva-9749.
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Atkinson, Jonathan G. B. "Market influences on low carbon energy designs in buildings." Thesis, University of Surrey, 2008. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.493510.
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Drayton-Bright, Glenn Robert. "Coordinating energy and reserves in a wholesale electricity market." Thesis, University of Canterbury. Department of Management, 1997. http://hdl.handle.net/10092/3599.
Full textAbstract:
This thesis addresses a number of questions related to the design of a wholesale electricity
market and the decentralisation of a mixed hydro and thermal system.
Initially it concentrates on the response to price of a Linear Programming model of a
hydro station and existence of a step supply curve consistent with that function. This has
implications for the existence of the perfect competition equilibrium in a simplified energy
market. An experimental analysis is presented, which attempts to quantify the theorised
discrepancy between an 'ideal' centrally coordinated solution and the market's solution.
The latter half of this thesis develops a Linear Programming based representation of
the joint energy and reserve capability of a generating unit or station, called the Fan Approximation.
This approach is used to develop an offering and market-clearing model
for energy and reserves which allows hydro, thermal, and interruptible load participants
to compete equally.
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Zhang, Mingming. "Power system energy imbalance settlement in deregulated electricity market." Thesis, University of Strathclyde, 2012. http://oleg.lib.strath.ac.uk:80/R/?func=dbin-jump-full&object_id=17833.
Full textAbstract:
In regulated electricity market the difference between forecast demand and actual demand is balanced by additional generation from the cheapest available source after network security is taken into consideration. The electricity price to supply this difference in demand forecast error is already pre-fixed through the bulk supply tariff. In deregulated market many of the current market structures rely on bilateral contracts for trading. This means that the amount of electricity purchased is pre-determined with the price or pricing method specified in the contract. In the event that the forecast does not agree with the actual demand, the difference is taken from the balancing market. The price for this difference in energy is not known until after the event. The financial settlement for this imbalance energy is different from the normal contract settlement. In the ideal case the imbalance should be zero but this is almost impossible as the contracted values are usually based on demand forecasts and which contain errors. The imbalance settlement thus depends very much on the electricity prices of the real time balancing market, and also on the structure of the balancing market which could be different from one country to another and could even be different for different markets within the same country. This thesis begins by reviewing the 5 typical electricity markets (UK, US, Australian, New Zealand and Argentina) in the world on aspects of dispatching method, trading inside the Pool and trading outside the Pool. The existing arrangement, balance & imbalance settlement method of each electricity market will be presented. The IEEE 30-bus system will be taken as the illustrate example, detailed comparison of total revenue income and load total payment has been conducted among the different settlement systems of each electricity market. Although some of these methods are very reliable and have been used extensively, as the limitation of the fuel and development of the renewable source, the Distributed Generator (DG) access, they may not be economical given the probability of contingencies and changes in the market environment. As a new application, a Dual use of electricity storage method is proposed to solve the imbalance settlement problem. The Dual Use Distributed Generator (DUDG) could access the real time market for balancing the errors from the demand forecast, no matter the demand increases or reduces, with a reasonable price both for generation side and the distribution side.
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Liu, Jian. "Electric cars in China : energy, infrastructure and market potentials." Thesis, University of Oxford, 2012. http://ora.ox.ac.uk/objects/uuid:ade81f60-f967-4312-99e6-91c077dcf724.
Full textAbstract:
The electric vehicle (EV) has been regarded as one of the most promising alternative fuel vehicle technologies that could reduce China’s energy reliance on imported oil and transport sector carbon emissions. The success of EVs in China will depend on a series of determinants including their energy consumption and emission reduction potentials, battery performance and costs, charging infrastructure provision, the driving behaviour and the commercialization strategies. Some issues have been intensively investigated by previous research whilst some others gradually receive academic and governmental attentions. Instead of covering all determinants, this thesis focuses on four key aspects of the electric car development in China: the energy consumption and carbon emissions of electric cars based on the country’s energy mix; the expected electric car driving behaviour and its impacts on the power grid; the deployment strategy of charging infrastructure and the business operation models that could reduce the purchase cost of electric cars and accelerate their market diffusion. The research finds that according to the current energy mix and driving behaviour in China, the introduction of electric cars would largely reduce the transport sectors’ oil consumption. However, the carbon emission saving of electric cars requires a synchronized progress in the energy industry and the power grid infrastructure. Without the growing adoption of renewable sources in the electricity generation mix and the high efficient power transmission infrastructure, electric cars could achieve little environmental benefits particularly for carbon emission reduction. This research also finds that the current external costs of carbon emissions from cars are not high enough to justify financial policies that would favour electric vehicles. Moving towards cleaner technologies at present may not be justified on economic terms but it is justified on political and environmental terms. In addition, the performance of current electric cars, the driving range per charge in particular, is still significantly inferior to conventional vehicles running on petroleum fuels, which poses a remarkable challenge for electric cars’ market acceptance and implies the importance of charging infrastructure provision. This research estimates the charging impact of electric cars on the power grid in two case study cities through comparing charging infrastructure deployment strategies integrating three charging methods in both cities. Some innovative business operating models that aim to reduce the high initial purchase costs of electric cars are simulated. It shows all these models require substantial political and financial interventions to stimulate both supply (charging service and infrastructure provision) and demand (consumers purchase) in the early stage of market penetration for electric cars. Finally, the thesis provides recommendations for the policy implementation timing and stresses the importance of the parallel development in the upstream low carbon energy supply and the downstream vehicle (battery) research and development (R&D) in the near term.
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Dakhil, Balsam. "Market Mechanisms For the Deep Integration of Renewable Energy." The Ohio State University, 2019. http://rave.ohiolink.edu/etdc/view?acc_num=osu1562316287366083.
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Granath, Isabelle, and Kristin Holmlund. "Business Model Design for Digital Energy Trading Platforms : An Exploratory Study of Local Energy Market Designs." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-279616.
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The traditional electricity market, holding centralized authority over consumers, is no longer adequate seeing a shift towards a more electrified, decentralized, and digitalized society. Increased energy prices, raising concerns about climate change, and tightening governmental regulations have resulted in that an extensive diffusion of renewable energy sources has evolved. This development is expected to change the structure of the sector, despite that an appropriate market design that can deal with these remains to be identified. The purpose of this study was to investigate how a business model of a digital platform, managing energy trading within a local community could be designed. This study contributes to a new dimension of energy transitions within a Multi-Level Perspective by studying a particular field of the transition in terms of flexibility market platforms. The rising need for flexible solutions, making the consumer a prosumer, and enabling shared energy through a digital platform involves uncertainty and challenges, where a suitable business model linking new technology to the emerging market needs to be defined. Despite the novelty of the research field of local energy markets, the aim of investigating business model designs for a local energy market platform has been reached through an exploratory case study and integration of theories from several fields. This study makes an analytical contribution of investigating five pioneering projects, all developing digital platforms enabling integration of flexibility into the electricity market. This further contributes to the design-implementation gap of theories when developing a local energy market, by suggesting the most vital parameters to take into account. Based on the findings, a suggestion on a suitable business model design and a corresponding market design was developed. The main objective of the proposed market design is to serve as a basis to bring forward flexibility available from prosumers and their controllable demand and supply arrangement, including renewable energy technology generation and storage devices. The intention is to maintain a balanced and transparent distribution network at the lowest possible costs, while, at the same time functioning as reserve storage towards the main grid, reducing the risk of capacity shortage. Additional insights were raised that can be helpful in the evaluation of utilizing flexibility energy assets before making grid investments, following the recently presented recommendation of the EU's Clean Energy package.Den traditionella elmarknaden, karaktäriserad av en centraliserad styrning, är inte längre hållbar då utvecklingen av marknaden går mot ett allt mer elektrifierat, decentraliserat och digitaliserat samhälle. Ökande energipriser, växande oro för klimatfrågor tillsammans med en allt snävare reglering av energimarknaden har resulterat i en omfattande ökning av förnybara energikällor. Denna utveckling förväntas förändra sektorns struktur, där en lämplig marknadsdesign som kan hantera detta återstår att identifiera. Syftet med denna studie var att undersöka hur en affärsmodell för en digital plattform, anpassad för att hantera lokal energidelning, kan utformas. Denna studie bidrar till en ny dimension av energitransformationen från ett multi-nivå-perspektiv genom att studera ett särskilt område av övergången i form av flexibla marknadsplattformar. Det ökande behovet av flexibla lösningar, där konsumenter blir prosumenter och energi delas lokalt via digitala plattform innebär osäkerheter och utmaningar. En lämplig affärsmodell som kan anknyta de nya tekniska lösningarna som krävs till lokala energimarknader bör därav definieras. Trots att forskningsområdet som berör lokala energimarknader kan anses relativt nytt och delvis outforskat, har målet att undersöka affärsmodellkoncept för en lokal energimarknadsplattform uppnåtts genom en fallstudie och iterationer av teorier inom flertalet områden. Denna studie bidrar med en analytisk undersökning av fem innovativa projekt som alla utvecklar digitala plattformar för att möjliggöra integrering av flexibilitet till elmarknaden. Detta bidrar även till det kunskapsgap som har identifierats mellan design och implementering fas vid utvecklandet av lokala energimarknader, genom föreslagna parameter som anses grundläggande och som bör tas hänsyn till. Baserat på resultatet presenterades ett förslag på en lämplig design för affärsmodell samt en tillhörande marknadsdesign. Huvudsyftet med den föreslagna marknadsdesignen är att utgöra en grund för gynnandet av en mer flexibel elektricitet hantering. Detta möjliggörs genom introduktionen av prosumenter till marknaden, där allt mer elektricitet produceras från förnybara källor och där konsumtion samt produktion regleras med hjälp av integrerade lagringsenheter. Målet är att upprätthålla ett balanserat och transparent distributionsnät till lägsta möjliga kostnad, medan marknaden även fungerar som ett reservlager mot kraftnätet, vilket minskar risken för kapacitetsbrist runt om i Sverige. Ytterligare insikter från denna studie påvisar hur de befintliga energitillgångarna kan utnyttjas på ett mer flexibelt och effektivt sätt, vilka stöds av de nyligen presenterade rekommendationerna från EU:s Clean Energy-paket.
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Szulczyk, Kenneth Ray. "Market penetration of biodiesel and ethanol." Texas A&M University, 2003. http://hdl.handle.net/1969.1/5822.
Full textAbstract:
This dissertation examines the influence that economic and technological factors
have on the penetration of biodiesel and ethanol into the transportation fuels market.
This dissertation focuses on four aspects. The first involves the influence of fossil fuel
prices, because biofuels are substitutes and have to compete in price. The second
involves biofuel manufacturing technology, principally the feedstock-to-biofuel
conversion rates, and the biofuel manufacturing costs. The third involves prices for
greenhouse gas offsets. The fourth involves the agricultural commodity markets for
feedstocks, and biofuel byproducts. This dissertation uses the Forest and Agricultural
Sector Optimization Model-Greenhouse Gas (FASOM-GHG) to quantitatively examine
these issues and calculates equilibrium prices and quantities, given market interactions,
fossil fuel prices, carbon dioxide equivalent prices, government biofuel subsidies,
technological improvement, and crop yield gains.
The results indicate that for the ranges studied, gasoline prices have a major
impact on aggregate ethanol production but only at low prices. At higher prices, one
runs into a capacity constraint that limits expansion on the capacity of ethanol
production. Aggregate biodiesel production is highly responsive to gasoline prices and
increases over time. (Diesel fuel price is proportional to the gasoline price). Carbon
dioxide equivalent prices expand the biodiesel industry, but have no impact on ethanol
aggregate production when gasoline prices are high again because of refinery capacity
expansion. Improvement of crop yields shows a similar pattern, expanding ethanol production when the gasoline price is low and expanding biodiesel. Technological
improvement, where biorefinery production costs decrease over time, had minimal
impact on aggregate ethanol and biodiesel production. Finally, U.S. government
subsidies have a large expansionary impact on aggregate biodiesel production, but only
expand the ethanol industry at low gasoline prices. All of these factors increase
agricultural welfare with most expanding producer surplus and mixed effects on
consumers.
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Morgan, Alexander, and Magne Ottersgård. "Spillover Effects Between the Nordic Energy Markets." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-433999.
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During the last decade there has been an increase in renewable energy companies. At the same time, propositions have been put forward worldwide in order to restrict the possibilities for expansion for energy companies with their focus on oil and gas. This study aims to analyse the potential spillover effects between oil and renewable energy stocks on the Nordic Stock markets in order to explain how these events might affect investors abilities to predict potential gains in the markets. Spillover effects are characterized by seemingly unrelated events in one market having an impact on another. Similar studies have been conducted in countries that have a large dependency on oil as their means of energy. However, with the Nordic region being on the forefront when it comes to renewable energy globally, the aim was to see if there would be similar effects between the different sectors between different countries. The study utilized Market Capitalization based indexes for both types of stocks and examined the correlations between them during different time periods. This in order to find trends related to different time periods that could open up for different investment opportunities depending on the user. As the study showed, there were significantly negative correlations between the indexes in favour of the renewable market. However, these correlations were not true for all time periods within the study and could therefore not be confirmed as a definite result.
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Lai, Shuying. "Risk Hedging Strategies in New Energy Markets." Thesis, The University of Sydney, 2022. https://hdl.handle.net/2123/29854.
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In recent years, two typical developments have been witnessed in the energy market. On the one hand, the penetration of renewable generations has gradually replaced parts of the traditional ways to generate energy. The intermittent nature of renewable generation can lead to energy supply uncertainty, which might exacerbate the imbalance between energy supply and demand. As a result, the problem of energy price risks might occur. On the other hand, with the introduction of distributed energy resources (DERs), new categories of markets besides traditional wholesale and retail markets are emerging. The main benefits of the penetration of DERs are threefold. First, DERs can increase power system reliability. Second, the cost of transmission can be reduced. Third, end users can directly participate in some of these new types of markets according to their energy demand, excess energy, and cost function without third-party intervention. However, energy market participants might encounter various types of uncertainties. Therefore, it is necessary to develop proper risk-hedging strategies for different energy market participants in emerging new markets.
Thus, we propose risk-hedging strategies that can be used to guide various market participants to hedge risks and enhance utilities in the new energy market. These participants can be categorized into the supply side and demand side. Regarding the wide range of hedging tools analyzed in this thesis, four main types of hedging strategies are developed, including the application of ESS, financial tools, DR management, and pricing strategy. Several benchmark test systems have been applied to demonstrate the effectiveness of the proposed risk-hedging strategies. Comparative studies of existing risk hedging approaches in the literature, where applicable, have also been conducted. The real applicability of the proposed approach has been verified by simulation results.
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Carlsson, Per. "Market and resource allocation algorithms with application to energy control." Licentiate thesis, Uppsala universitet, Avdelningen för datalogi, 2001. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-86019.
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The energy markets of today are markets with rather few active participants. The participants are, with few exceptions, large producers and distributors. The market mechanisms that are used are constructed with this kind of a market situation in mind. With an automatic or semiautomatic approach, the market mechanism would be able to incorporate a larger number of participants. Smaller producers, and even consumers, could take an active part in the market. The gain is in more efficient markets, and – due to smaller fluctuations in demand – better resource usage from an environmental perspective. The energy markets of the Nordic countries (as well as many others) were deregulated during the last few years. The change has been radical and the situation is still rather new. We believe that the market can be made more efficient with the help of the dynamics of the small actors. The idealised world of theory (of economics) often relies on assumptions such as continuous demand and supply curves. These assumptions are useful, and they do not introduce problems in the power market situation of today, with relatively few, large, participants. When consumers and small producers are introduced on the market, the situation is different. Then it is a drawback if the market mechanims cannot handle discontinuous supply and demand. The growth in accessibility to computational power and data communications that we have experienced in the last years (and are experiencing) could be utilised when constructing mechanisms for the energy markets of tomorrow. In this thesis we suggest a new market mechanism, ConFAst, that utilises the technological progress to make it possible to incorporate a large number of active participants on the market. The mechanism does not rely on the assumptions above. The gain is a more efficient market with less fluctuations in demand over the day. To make this possible there is a need for efficient algorithms, in particular this mechanism relies on an efficient aggregation algorithm. An algorithm for aggregation of objective functions is part of this thesis. The algorithm handles maximisation with nonconcave, even noisy, objective functions. Experimental results show that the approach, in practically relevant cases, is significantly faster than the standard algorithm.
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Lyse, Hansen Thomas. "Six essays on pricing and weather risk in energy market /." København, 2004. http://www.gbv.de/dms/zbw/476679699.pdf.
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Hosseini, Tabaghdehi Seyedeh Asieh. "Structural analysis of energy market failure : empirical evidence from US." Thesis, Brunel University, 2013. http://bura.brunel.ac.uk/handle/2438/8848.
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This thesis is concerned with the econometric modelling of gasoline prices in US. The intention is to characterize the market process in this crucial and significant industry. Overall we have been seeking to identify a mechanism to signal and measure market failure and consequently improve market performance. Firstly we examine the time series properties of gasoline prices using the criteria for perfect arbitrage to test market efficiency from the stationarity of price proportions. This is done by considering market efficiency across in different regions of the US, by applying a range of different stationary tests. In this analysis we collected a comprehensive data set of gasoline prices for all regions of the US mainland for the longest period available. Forni (2004), outlined reasons why the analysis of price proportions may be advantageous; especially when the sample is limited. Stationarity corresponds to a broad market, it is found here that the US gasoline market is on average broad. Except for the Gulf Coast and Lower Atlantic, which may be seen as economically and/or geographically separated, market structure in the rest of the US would not appear to be a problem Next we investigate possible long-run price leadership in the US gasoline market and the inter-relatedness of price behaviour relevant to a competitive market. Following Hunter & Burke (2007) and Kurita (2008) market definition is tested. This is done on an extended regional data set to Kurita and following the analysis in Hunter and Burke on a set of company data for the US.We analysed long-run price leadership through the cointegrated vector auto-regression (VAR) to identify key characteristics of long-run structure in the gasoline market. The analysis of the system of regional prices confirms problems with the Gulf Coast and Lower Atlantic, but also based on the finding that the cointegrating rank is less than N-1 using both types of data ( regional price data and company price data) and the findings on weak exogenity it is suggested that competition across the whole of the US is further limited. We applied further tests to company data on prices and quantity data to investigate further the need to regulate for potential anomalies and to capture more directly consumer harm. The variance screening method applied to recent weekly data indicates that there is too little variation in gasoline prices and this would seem to support the cointegration study. Furthermore we applied a dynamic disequilibrium analysis to attempt to identify long-run demand and supply in the gasoline market. Finding significant variables using the Phillips-Hansen fully modified estimation of the switching regression is necessary to distinguish two long-run equations (S&D). Moreover a comparison is made with a Markov Switching Model (MSM) of prices and this suggests a similar pattern of regime to the quantity information analysed in by our disequilibrium model.
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Rehmatulla, N. "Market failures and barriers affecting energy efficient operations in shipping." Thesis, University College London (University of London), 2014. http://discovery.ucl.ac.uk/1448234/.
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Shipping contributes to around 3% of global CO2 emissions and this is expected to increase to around 20 – 25% of global CO2 emissions by 2050 as other sectors under national inventories decarbonise to avoid dangerous climate change. Improving energy efficiency has a key role as one of the strategies to address the challenges of climate change and this research investigates the barriers to energy efficiency in shipping, which is motivated by the increasing attention given to this subject from shipping regulators, both regional (e.g. UK and EU) and international (e.g. UN and IMO). The few studies that analyse the shipping sector for barriers to energy efficiency lack clear barriers taxonomy, are not rigorous methodologically and theoretically and can benefit from empirical examination of barriers in other sectors. The aim of this research therefore is to thoroughly understand the energy efficiency gap in shipping by examining the level of implementation of energy efficient operational measures and the barriers that may be affecting implementation of these measures. To do this, the research establishes a novel framework for empirically analysing the barriers to energy efficiency. The framework utilises agency theory for comparing perceptions of barriers using the survey method to observed level of barriers using the content analysis method and actual operational data. The survey results show that operational energy efficiency measures are not fully implemented and their implementation varies by sector of operation, size of the firm and chartering level of the firm. More specifically, the survey results show that on average more operational measures are being implemented by firms which have a majority of their fleet on time charter in comparison to firms that have a majority of their fleet on voyage charter and that more measures are being implemented by firms in the drybulk sector than in the wetbulk sector. This supports the findings from fixtures analysis that shows the wetbulk sector has the majority of its fleet on voyage charter, and the content analysis findings show that the voyage charter is more prone to the principal agent usage problem, which affects the implementation of operational measures more than technical measures. The survey results also show that the respondents perceive more market failures in comparison to non-market failures as barriers to implementation of operational measures. This perception of barriers differs amongst the implementation of operational measures, with more technical operational measures being affected by informational problems and speed related measures being affected by split incentives. These findings suggest that the principal agent problem can be a plausible explanation for some of the energy efficiency gap in the implementation of operational measures in the shipping charter markets.
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D'ANGELO, MARTA. "Onshore Wind Energy Market Analysis : Of Sweden, Poland, and Romania." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-282922.
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The shift towards sustainability is a key point in many countries’ energy programs. Among renewable energy technologies, wind power offers high productivity and reliability. However, its profitability is strongly dependent on the support of favorable political environment, national and/or European incentives, and market opportunities. With this regard, this study presents a methodology to highlight how different scenarios impact on the remuneration from similar featured wind farms. Indeed, a wind farm pre-feasibility study is performed in three different locations in Sweden, Poland, and Romania respectively. Both technical and economic results are compared, and conclusions are carried out. First, a study defining detailed country profiles is performed by focusing on wind energy current scenario and development of future scenarios. Key investment actors and business models are analyzed in order to define market opportunities and criticalities. This research is crucial and preliminary to choose proper features and realistic assumptions for the pre-feasibility wind projects. Therefore, the first results come from these market analyses which outline various bottlenecks in the countries energy systems. Specifically, the Swedish permitting phase is affected by the local “municipal veto” which sets limits on the wind turbines height. The biggest barrier in Poland is the “10H rule” imposing strict distances between wind farms and houses. Lastly, the most relevant Romanian issue is the grid capability which needs to be expanded in order to accommodate the desired renewable energy capacities. The first assumptions of the wind farm designs aim at overcoming these criticalities, by choosing a wind turbine model with acceptable height and rotor diameter and assuming approved permits. Finally, the research continues with the design of three 100 MW wind farms located in sites with similar annual average wind speeds. Thus, techno-optimizations lead to the final layout orientations by minimizing wake effects. Hence, the economic analysis shows that the wind farm located in Romania has higher productivity and profitability, followed by the Swedish and the Polonian wind farms. However, the comparison study exposes another relevant difference. The Swedish and Polonian assumptions on the permitting phase are related to political rules already planned to be modified or removed uniquely, such as the municipal veto and 10H rule. On the contrary, the Romanian barrier regards a grid expansion involving huge investments along with political decisions. In conclusion, given that the three pre-feasibility projects are already cost-effective, the profitability of the projects raises along with decreasing of investment costs from the technical side, and implementation of necessary amendments from the political one.Förändringen mot hållbarhet är en nyckelpunkt i många lands energiprogram. Bland teknik för förnybar energi erbjuder vindkraft hög produktivitet och tillförlitlighet. Lönsamheten är dock starkt beroende av stödet av gynnsam politisk miljö, nationella och / eller europeiska incitament och marknadsmöjligheter. I detta avseende presenterar denna studie en metodik för att belysa hur olika scenarier påverkar ersättningen från liknande vindkraftsparker. I själva verket genomförs en genomförbarhetsstudie på vindkraftsparker på tre olika platser i Sverige, Polen respektive Rumänien. Både tekniska och ekonomiska resultat jämförs och slutsatser genomförs. Först utförs en studie som definierar detaljerade landsprofiler genom att fokusera på vindkraftsströmsscenario och utveckling av framtida scenarier. Viktiga investeringsaktörer och affärsmodeller analyseras för att definiera marknadsmöjligheter och kritik. Denna forskning är avgörande och preliminär för att välja lämpliga funktioner och realistiska antaganden för förberedande vindprojekt. Därför kommer de första resultaten från dessa marknadsanalyser som beskriver olika flaskhalsar i ländernas energisystem. Specifikt påverkas den svenska tillåtningsfasen av det lokala "kommunala vetot" som sätter gränser för vindkraftverkets höjd. Den största barriären i Polen är ”10H-regeln” som innebär strikta avstånd mellan vindkraftsparker och hus. Slutligen är den mest relevanta rumänska frågan nätkapaciteten som måste utökas för att tillgodose önskad kapacitet för förnybar energi. De första antagandena om vindparkens utformningar syftar till att övervinna dessa kriterier genom att välja en vindkraftverksmodell med acceptabel höjd och rotordiameter och antaga godkända tillstånd. Slutligen fortsätter forskningen med utformningen av tre vindkraftsparker på 100 MW belägna på platser med liknande årliga genomsnittliga vindhastigheter. Således leder teknooptimeringar till den slutliga layoutorienteringen genom att minimera väckningseffekter. Följaktligen visar den ekonomiska analysen att vindkraftsparken i Rumänien har högre produktivitet och lönsamhet, följt av svenska och polska vindkraftparker. Jämförelsesstudien visar dock en annan relevant skillnad. De svenska och polska antagandena om tillståndsfasen är relaterade till politiska regler som redan planeras att ändras eller tas bort unikt, till exempel kommunvetoret och 10H-regeln. Tvärtom gäller den rumänska barriären en nätutvidgning med stora investeringar tillsammans med politiska beslut. Sammanfattningsvis, med tanke på att de tre projekten för genomförbarhet redan är kostnadseffektiva, ökar lönsamheten för projekten tillsammans med minskade investeringskostnader från den tekniska sidan och genomförande av nödvändiga ändringar från den politiska.
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Hartmanis, Eric, and Robin Lindblom. "Business Models for Energy Communities : A Case Study on the Swedish Market." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-300168.
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Global warming is one of our time’s most pressing issues and the energy industry is the leading cause. In the current Swedish electricity systems, individual consumers hold little to no power as the system is inherently centralized, with large incumbent actors. The Swedish electricity grid is prognosticated to encounter a troublesome situation with grid capacity as society enjoys and evergrowing electrification. The climate issueshave however given renewable energy a more predominant role in the Swedish energy sector. Through the directives of the European Union’s Clean Energy Package, each member state now has to enact laws enabling for individuals to cooperatively engage in selfproduction of energy as a joint entity, which in turn enables for new niche technologies to become market actors. Energy communities is such an entity with a promising outlook to become both a considerable market actor, and an actor that can help alleviate grid tensions. The purpose of this study is to: 1) investigate how the internal business model for energy communities could be constructed in order to maximize societal outreach and promote the creation of new energy communities, and 2) to investigate how the business models could be constructed in order to coexist with the incumbent structures, while contributing to the developments in the sociotechnical regime. The study utilizes an abductive approach through the form of a single case study and qualitative data collection methods. The results are presented and analyzed using the business model canvas framework and its potential is analyzed through the MultiLevel Perspective. The prospects of energy communities in Sweden using photovoltaic (PV) production units are overall positive. The value propositions that lie at the core of the proposed business model are constituted of environmental benefits, autarky, social values and economic costs savings. The most prosperous developmental path for energy communities in order to in the future be recognized in the sociotechnical regime is through a relationship characterized by cooperation with the incumbent structures.Global uppvärming är en av vår tids största problem, och energiindustrin är den största bidgrande faktorn. I det nuvarande energisystemet har individen lite kontroll, eftersom systemet är till hög grad centraliserat med stora aktörer. Effektbrist och kapacitetsbrist är växande problem i det svenska elnätet, vilket späds på av ökad elektrifiering. Klimatförändringarna har dock givits en större roll i den svenska energisektorn. Genom ett direktiv på EU nivå, Ren Energi paketet, kan nu varje medlemsstat etablera lagar för hur individer kan engagera sig och samarbeta i elproduktion för att själva bli marknadsaktörer. Ett samlingsnamn för sådana aktörer är energigemenskaper. Energigemenskaper kan bidra till att motverka både klimatkrisen men också problemen i elnäten. Syftet med denna studie är att: 1) undersöka hur affärsmodellen för energigemenskaper kan utformas så att man maximerar samhällsspridning och promoterar skapandet av nya energisamhällen, och 2) undersöka hur affärsmodellen can konstrueras så att de kan samexistera med nuvarande aktörer i energisystemet och dessutom utveckla det vidare. Denna studie har ett abduktivt tillvägagångssätt, genom en fallstudie med kvalitativ datainsamling. Resultaten presenteras och analyseras med business model canvas och dess potential undersöks med hjälp av MultiLevel Perspective ramverket. Utsikterna för energigemenskaperna, med fokus på solcellsproduktion, är överlag goda. Energigemenskapens affärsmodells främsta värderbjudanden var klimatmedvetenhet, autarki, sociala attribut och kostnadsbesparingar. Den mest lovande utvecklingsbanan för energigemenskaper inkluderar karaktäriseras av inkludering och samarbeta med de stora och nuvarande aktörerna i energisystemet.
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Isaac, John Graham. "The structural changes in the UK energy market and policy options for the future." Thesis, University of South Wales, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.290932.
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Liu, Yingqi. "The role of the forward capacity market in promoting electricity use reduction." Thesis, University of Oxford, 2017. https://ora.ox.ac.uk/objects/uuid:20e6eb35-cae1-42bf-af7a-a029cb0c1998.
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Electricity use reduction is at the heart of an energy policy landscape increasingly defined by climate change, security and affordability. With its potential of peak demand reduction, it can be used as a cost-effective alternative to generation for contributing to capacity adequacy. In many restructured electricity markets, the forward capacity market is established as a solution to ensure capacity adequacy, with some of them allowing electricity use reduction to compete against other resources. To promote electricity use reduction, financial incentives for investment in end-use electric energy efficiency (EE) are crucial. This thesis focuses on one novel approach of relying on the forward capacity market to incentivise electric efficiency investment, which is trialled in the Electricity Demand Reduction (EDR) Pilot in the UK. It aims to examine the role of the forward capacity market in promoting electricity use reduction, by asking two broad research questions: 1) whether the forward capacity market can serve as a primary policy vehicle to give financial incentives to support electricity use reduction; and 2) whether, as one mechanism for ensuring capacity adequacy, it can promote electricity use reduction as a capacity resource. Case studies are conducted of the EDR Pilot, the Great Britain Capacity Market, ISO New England (ISO-NE), PJM and international electric efficiency schemes. They demonstrate that the forward capacity market, with its focus on peak savings and a savings-based approach for providing financial incentives, only plays a minor role in advancing the objective of incentivising investment in electric EE measures. The general design features of the forward capacity market pose higher requirements of participation, which may create barriers for some key customer segments to access financial incentives or target specific efficiency measure. The capacity payment, under the current market structure, may only provide a lukewarm incentive for customers to strengthen their capabilities to access support from the forward capacity market. However, it is valuable to integrate electricity use reduction in the forward capacity market. It is a viable mechanism to reward the capacity value of electricity use reduction, which requires the appropriate definition of capacity product, regulatory support for electricity use reduction and the removal of participation barriers.
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van, Stappen Jonas Viktor. "Energy Market Surveillance in the EU and US: A Study of Market Designs, Regulations, and Detection Algorithms." Thesis, KTH, Energiteknik, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-245997.
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The need for market surveillance in the context of wholesale energy trading is examined through a study of twenty years of energy market liberalisation, resulting modern market designs in EU and US power and gas markets, and through an exploration of high-profile case studies of energy market abuse. Additionally, an extensive regulatory analysis of core EU (REMIT, MAR, MiFID II) and US (CEA/Dodd-Frank Act, Energy Policy Act, EISA) market regulations is conducted, with the goal of clearly identifying current obligations and prohibitions in their application to wholesale energy market actors. Lastly, the identified prohibition of one specific manipulative behaviour – physical-asset-related insider trading – is translated into a functional high-level alert logic, suitable for future implementation in an automated surveillance system. This high-level alert logic is validated on a proof-of-concept level by testing a minimum working example of the logic against independently prepared sample trading data, which has been modified to include a suitable physical-asset-related insider trading case.Behovet av marknadsövervakning i samband med grosshandel med energi undersöks genom en studie av tjugo års liberalisering av energimarknaden, vilket resulterade i moderna marknadsdesign i EUs och USAs kraft- och gasmarknader, och genom en prospektering av högprofilerade fallstudier av energimarknadsmissbruk. Dessutom har en omfattande reglementeringsanalys av EU:s (REMIT, MAR, MiFID II) och USA:s (CEA / Dodd-Frank Act, Energy Policy Act, EISA) huvudsakliga marknadsreglementering med målet att tydligt identifiera nuvarande skyldigheter och förbud för energigrossmarknadens aktörer. Slutligen, det identifierade förbudet mot en specifik manipulativ beteende - fysisk tillgångsrelaterad insiderhandel - översätts till en funktionell högnivå varningslogik, lämplig för framtida implementering i ett automatiserat övervakningssystem. Den här hög nivå varningslogiken är validerad på ett belägg-av-koncept nivå genom att testa ett minimalt arbetsexempel på logik mot oavhängiga preparerat provhandelstransaktionsdata, som har modifierats för att inkludera ett lämpligt fall av fysisk tillgångsrelaterad insiderhandel.
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Lorenczik, Stefan [Verfasser], Felix [Gutachter] Höffler, and Dietmar [Gutachter] Lindenberger. "Essays on market design and strategic behaviour in energy markets / Stefan Lorenczik ; Gutachter: Felix Höffler, Dietmar Lindenberger." Köln : Universitäts- und Stadtbibliothek Köln, 2017. http://d-nb.info/1147940649/34.
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Hung, Ching-Yi Emily. "Nation Energy System Patterns and Forecasting." Thesis, University of Canterbury. Electrical and Computer Engineering, 2009. http://hdl.handle.net/10092/3100.
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This thesis investigates the patterns of each type of energy consumption for fourteen countries, to study the link between energy consumption, economics and population. It was found that for all the countries studied, there is a decrease in energy consumption relative to economic growth. This shows that the world has become less energy based,
and is more efficient in using energy to produce economic wealth.
The carbon dioxide (CO₂) emissions for each fossil fuel type used for electricity generation in New Zealand: coal, gas and oil was also calculated. Gas is the main contributor of CO₂ by electricity generation for New Zealand. New Zealand's CO₂ emissions from electricity generation have nearly tripled in the last 12 years. Despite the environmental concerns of global warming and the Kyoto protocol, there has been a large increase in total CO₂ emitted. This increase has seen a replacement of gas by coal in order to continue to meet the electricity demand of the nation.
New Zealand has a small energy market relative to the global market. World energy market patterns show a recent history of oil declining, coal declining, gas increasing
and the significant presence of nuclear. Renewable energies are insignificant on the
world scene. These are marked contrasts to the New Zealand scene.
Of the renewable energy supply fuels, both hydro and geothermal have been in decline, from before deregulation. This trend will continue in the future if left to market forces.
Although renewable energy may be a solution to New Zealand's energy supply, the increase in market share of other renewable energies to date is limited. They are unlikely to be sufficient to cover New Zealand's energy demand in the near future. With
New Zealand being dependent on the world supply of oil, the expected depletion of the
Maui gas field, the low market share for renewable energy and rising concerns about pollution, the green house effects and global warming, nuclear power is considered an
option in New Zealand.
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Wang, Dan. "Interest-rate models : an extension to the usage in the energy market and pricing exotic energy derivatives." Thesis, Imperial College London, 2009. http://hdl.handle.net/10044/1/5583.
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In this thesis, we review various popular pricing models in the interest-rate market. Among these pricing models, we choose the LIBOR Market model (LMM) as the benchmark model. Based on market practice experience, we also develop a pricing model named the “Market volatility model”. By pricing vanilla interest-rate options such as interest-rate caps and swaptions, we compare the performance of our Market volatility model to that of the LMM. It is proved that the Market Volatility model produce comparable results to the LMM, while its computing efficiency largely exceeds that of the LMM. Following the recent rapid development in the commodity market, in particular the energy market, we attempt to extend the use of our proposed Market volatility model from the interest-rate market to the energy market. We prove that the Market Volatility model is capable of pricing various energy derivative under the assumption of absence of the convenience yield. In addition, we propose a new type of exotic energy derivative which has a flexible option structure. This energy derivative is named as the Flex-Asian spread options (FASO). We give examples of different option structures within the FASO framework and use the Market volatility model to generate option prices and greeks for each structure. Although the Market volatility model can be used to price various energy derivatives based on oil/gas contracts, it is not compatible with the structure of one of the most advanced derivatives in the energy market, the storage option. We modify the existing pricing model for storage options and use our own 3D-binomial tree approach to price gas storage contracts. By doing these, we improve the performance of the traditional storage model.
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Corlu, Huseyin Cagri. "The application of anti-manipulation law to EU wholesale energy markets and its interplay with EU competition law." Thesis, University of Exeter, 2017. http://hdl.handle.net/10871/30135.
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Of the findings, the European Commission established in its report on Energy Sector Inquiry, market manipulation constituted a major concern for the functioning and integrity of EU energy sectors. The Commission argued that the responsibility for high prices in wholesale energy markets could be attributed to manipulative practices of energy incumbents and the trust in the operation of operation of sector was largely compromised, due to these practices. Remedies, EU competition law provided, were considered as insufficient to resolve these shortcomings and thus should be supplemented with regulatory-based tools. The findings of the Energy Sector Inquiry and subsequent consultation documents by multiple EU institutions paved the way for the adoption of the Regulation on wholesale energy market integrity and transparency, REMIT, which incorporated into an anti-manipulation rule, specifically designed to prohibit and prosecute manipulative practices in EU wholesale energy markets. Nevertheless, as EU case law on market manipulation has yet to develop and there are uncertainties with respect to the concept of market manipulation. Furthermore REMIT does not preclude the jurisdiction of EU competition law, questions arise as to the scope and the extent of the application of this prohibition. Throughout its chapters, this book explores the scope of and the case law on market manipulation to determine what types of market practices are regarded as manipulative and thus prohibited under anti-manipulation rules. It also focuses on the interplay between REMIT and EU competition law and evaluates factors and circumstances that determine when and what market misconduct can be subject to enforcement proceedings under both anti-manipulation and antitrust rules. As the development of a single, coherent, rulebook that can be relied upon by market participant is fundamental for the functioning of EU wholesale energy markets, the book, finally, provides proposals and measures that can mitigate and resolve the legal uncertainties regarding the regulatory framework REMIT established.
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Vilalta, Cea Raul. "Research on the Best Market Applications for LightLab Energy-Saving Lamps." Thesis, Linköpings universitet, Energisystem, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-59499.
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Nowadays, lighting represents 20% of the global electricity consumption. Light can be produced using different technologies but more than 100 years after its invention, the incandescent bulb is still the most sold and one of the more used light sources. Of the total energy input in an incandescent bulb more than 90% is lost as heat while less than 10% is converted into visible light. However, there are alternative technologies which use up to 85% less energy for conventional lighting and there are even more efficient light sources for other purposes that if they replace completely all incandescent lamps over the world could reduce dramatically the global electricity consumption and greenhouse gases emissions. One may identify these alternative technologies mainly as LEDs and discharge lamps, but are they the unique alternatives? This thesis is focused on a new lighting technology whose name is LightLab and which is based on the field emission and cathodoluminescence concepts. This technology is under the research and development stage but prototypes have already achieved energy savings over 85% compared to incandescent lamps with a great color performance and with the advantage that it does not use mercury or other hazardous substances compared with discharge lamps. Thus, in the first part of the project all technologies and last improvements are studied while the second part analyses the market applications possibilities for the LightLab lamp considering the environmental perspective regulations and comparing the lamp with the other light sources. The result is that despite there are still some unknown parameters that need to be developed or improved, the lamp has a great potential for different applications fields.
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Wong, Steven. "Alternative Electricity Market Systems for Energy and Reserves using Stochastic Optimization." Thesis, University of Waterloo, 2005. http://hdl.handle.net/10012/932.
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This thesis presents a model that simulates and solves power system dispatch problems utilizing stochastic linear programming. The model features the ability to handle single period, multiple bus, linear DC approximated systems. It determines capacity, energy, and reserve quantities while accounting for N-1 contingency scenarios (single loss of either generator or line) on the network. Market systems applying to this model are also proposed, covering multiple real-time, day-ahead, and hybrid versions of consumer costing, transmission operator payment, and generator remuneration schemes. The model and its market schemes are applied to two test systems to verify its viability: a small 6-bus system and a larger 66-bus system representing the Ontario electricity network.