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Energy Market (energy + market)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting36%
Humanities and Social Sciences27%

Selected Abstracts

The evolving UK wind energy industry: critical policy and management aspects of the emerging research agenda

ENVIRONMENTAL POLICY AND GOVERNANCE, Issue 1 2006
Peter A. Strachan
Abstract In recent years, renewable energy , and in particular wind power , has come to the fore of both international and UK national environmental policy debates. In addition to helping to meet its Kyoto obligations, the British Government has indicated its desire for a much larger slice of the international wind energy market, and has consequently developed a national strategy to stimulate a more vibrant UK wind energy industry. With this in mind, the British Government's Climate Change Programme (DETR, 2000) and more recent Energy White Paper (DTI, 2003) outline the UK energy strategy for the coming two decades, with wind power featuring as a core component. This article critically considers the prospects for the development of a wind energy industry in the UK and introduces five strategic opportunities and five strategic barriers in this evolving segment of the energy market. The article concludes with recommendations to enhance public acceptance of wind energy and four important areas for future research are outlined. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment. [source]

Access to energy services by the poor in India: Current situation and need for alternative strategies

NATURAL RESOURCES FORUM, Issue 1 2006
V. S. Ailawadi
Abstract Poor and inadequate access to clean, reliable and affordable energy is now considered a major concern for sustainable development. India houses about a third of the world's population without access to electricity and about 40% of those without access to modern energy. This article considers India's challenge in this area, examines the energy access situation, and analyses measures pursued to improve it. The article argues that the current focus on rural electrification is unlikely to resolve the energy access problem, due to the low penetration of electricity in the energy mix of the poor. The article also argues that strategies based on energy market reform, promotion of renewable technologies and correct price signals are unlikely to succeed in changing the situation, as acceptance of this policy prescription is rather low. Instead, a bottom-up, holistic, long-term approach is suggested that integrates energy access with economic development, and relies on selective market intervention, local resources and local governance. [source]

Modelling aviation fuel demand: the case of the United States and China

OPEC ENERGY REVIEW, Issue 4 2008
Dr. Mohammad Mazraati
The aviation sector's contribution to the world economy is 8 per cent, while using 5.8 per cent of total world oil demand. Within the transportation sector, aviation consumes about 12.7 per cent of the total oil demanded by the transportation sector, with a growth rate of 2.32 per cent per annum in recent years, confirming the importance of aviation in the future energy market and economy. This paper considers modelling fuel demand in aviation sectors of two different markets. Jet fuel demand is modelled in the United States as a matured market and China as a fast growing market. A constant elasticity log-log model using recent data of passenger aviation traffic, freight aviation traffic and airline load factors for both countries. Economic growth and fuel prices were also considered as determinants in the model. A system of three equations was developed for each country to forecast long-term jet fuel consumption levels to 2025. The mature US aviation sector was found to react better to price and short-term economic fluctuations, in contrast with the fast growing Chinese aviation sector, where the hike in prices did not seem to have much effect. [source]

China or the United States: which threatens energy security?

OPEC ENERGY REVIEW, Issue 3 2007
Wu Lei
As the global energy market undergoes profound changes with price of oil reaching record highs and China emerging as a major force in world energy and global energy geo-politics, a debate on what has been described as ,China energy threat' seems to be gaining ground in western strategic circles. However, this is an illusion that is now somewhat exaggerated and overrated. As a matter of fact, the effect of the United States on global energy security affairs is far greater than that of China, and Washington is also not always the defender of the energy security as it claims to be. [source]

Natural gas in India's energy management

OPEC ENERGY REVIEW, Issue 1 2007
Muhammad Azhar
Thanks to the continuous implementation of liberalisation and reforms, the Indian economy has become a significant energy consumer. Further, the fast growing economy is expected to result in massive and unprecedented growth in energy consumption in India. This is sure to have important ramifications for the domestic energy sector, as well as global energy market. At the domestic level, this resulted in new discoveries of hydrocarbon resources. However, the growth in energy consumption is so high that the old, as well as newly discovered hydrocarbon resources would not be able to fulfil the growing demand for energy in the Indian economy. Hence, Indian economy would remain dependent on the global market for the supply of hydrocarbon resources. India has been adopting various strategies to manage her energy requirement and Natural gas is slated to play an important role in India's energy management. This paper therefore, attempts to study the importance of natural gas in this context. [source]

Photosynthetic biomass and H2 production by green algae: from bioengineering to bioreactor scale-up

PHYSIOLOGIA PLANTARUM, Issue 1 2007
Ben Hankamer
The development of clean borderless fuels is of vital importance to human and environmental health and global prosperity. Currently, fuels make up approximately 67% of the global energy market (total market = 15 TW year,1) (Hoffert et al. 1998). In contrast, global electricity demand accounts for only 33% (Hoffert et al. 1998). Yet, despite the importance of fuels, almost all CO2 free energy production systems under development are designed to drive electricity generation (e.g. clean-coal technology, nuclear, photovoltaic, wind, geothermal, wave and hydroelectric). In contrast, and indeed almost uniquely, biofuels also target the much larger fuel market and so in the future will play an increasingly important role in maintaining energy security (Lal 2005). Currently, the main biofuels that are at varying stages of development include bio-ethanol, liquid carbohydrates [e.g. biodiesel or biomass to liquid (BTL) products], biomethane and bio-H2. This review is focused on placing bio-H2 production processes into the context of the current biofuels market and summarizing advances made both at the level of bioengineering and bioreactor design. [source]

INNOVATION AND COMPETITION IN GENERATION AND RETAIL POWER MARKETS

ECONOMIC AFFAIRS, Issue 2 2010
Elizabeth Hooper
There has been considerable merger activity in EU energy markets in recent years. It could be argued that competition authorities should be required to take into account potential innovation effects of mergers. In the UK, regulators are now trying to achieve multiple objectives within the current framework. There is a danger that if markets are expected to deliver mutually incompatible objectives they will be unable to achieve any of them. [source]

A risk-based approach for bidding strategy in an electricity pay-as-bid auction

EUROPEAN TRANSACTIONS ON ELECTRICAL POWER, Issue 1 2009
Javad Sadeh
Abstract With the reform of electric power industry and the development of electrical energy markets in many countries, it is of significance to develop bidding strategies for generation companies (GenCos). In this environment, one of the most challenging and important tasks for a GenCo is developing effective strategies to optimize hourly offer curve. In this paper, focusing on Iran's electricity market structure, we model the bidding problem from the viewpoint of a GenCo in a pay-as-bid (PAB) auction. Our goal is to present a tool for determining the optimal bidding strategy of a price-taker producer in an electricity PAB auction taking into account the relevant risks. Due to uncertainties in power market, the market-clearing price (MCP) of each hour is assumed to be known as a probability density function (pdf). The optimal solution of bidding problem is obtained analytically based on the classical optimization theory. Also, the analytical solution for a multi-step bid protocol is generalized and the properties of the generalized solution are discussed. A model is developed to consider concept of risk using two different methods. The two proposed methods are then compared and the results interpreted using numerical examples. In addition, the effect of variation of MCP's pdf parameters on supplier's profit is studied. Copyright © 2007 John Wiley & Sons, Ltd. [source]

Business,Regulatory Relations: Learning to Play Regulatory Games in European Utility Markets

GOVERNANCE, Issue 3 2005
DAVID COENArticle first published online: 13 JUN 200
Although regulation is on the rise in the European Union, the liberalization of the telecommunication and energy markets has not created a uniform European Regulatory model. The principle focus of this article is to examine the interaction and regulatory learning between national regulatory authorities and business in the U.K. and German utility markets to assess the degree of convergence and demonstrate how the regulatory relationship has evolved beyond that envisaged in the initial delegation of powers to the regulator. The article shows that independent regulatory authorities have moved from distant and often confrontational relationships with business to strategic working relationships driven by exchanges of information and reputation building and that regulatory learning and trust have evolved at distinct speeds in sectors and countries depending on the number of regulatory authorities in a market place, the degree to which there are concurrent powers between authorities, their discretion in the consultation process, and the length of time that regulatory authorities had existed. Consequently, significant variance is continuously seen in the business,regulator relationships in comparing the young legalist German regulatory authorities with the established independent and discretion-based regulators in the U.K. [source]

Natural gas storage valuation and optimization: A real options application

NAVAL RESEARCH LOGISTICS: AN INTERNATIONAL JOURNAL, Issue 3 2009
Matt Thompson
Abstract In this article, we present an algorithm for the valuation and optimal operation of natural gas storage facilities. Real options theory is used to derive nonlinear partial-integro-differential equations (PIDEs), the solution of which give both valuation and optimal operating strategies for these facilities. The equations are designed to incorporate a wide class of spot price models that can exhibit the same time-dependent, mean-reverting dynamics, and price spikes as those observed in most energy markets. Particular attention is paid to the operational characteristics of real storage units. These characteristics include working gas capacities, variable deliverability and injection rates, and cycling limitations. We illustrate the model with a numerical example of a salt cavern storage facility that clearly shows how a gas storage facility is like a financial straddle with both put and call properties. Depending on the amount of gas in storage the relative influence of the put and call components vary. © 2009 Wiley Periodicals, Inc. Naval Research Logistics 2009 [source]