| 1. |
- Aravena, C., et al.
(författare)
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Does money talk? - The effect of a monetary attribute on the marginal values in a choice experiment
- 2014
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Ingår i: Energy Economics. - : Elsevier BV. - 0140-9883. ; 44, s. 483-491
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Tidskriftsartikel (refereegranskat)abstract
- When designing choice experiments for nonmarket valuation the role of the price attribute is of major importance. In the energy sector the uncertainty of future direction of changes in prices makes it difficult to include an adequate price vector in the design. We separately investigate the implication of using price vectors with increases and decreases in tariffs from current levels, on marginal value estimate from choice experiment data developed using prospect theory. In addition, we also analyse the effect of excluding the price vector on these marginal values. By and large, our results support the neoclassical theory as we find that the means of the conditional estimates of the marginal values of attributes are unaffected by the direction of the price change and from exclusion of the price attribute. However, the distributions show a larger spread of values when the choice experiment implies a tariff decrease, which may have policy implications.
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| 2. |
- Biru Paksha, Paul, et al.
(författare)
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Energy and output dynamics in Bangladesh
- 2011
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Ingår i: Energy Economics. - : Elsevier. - 0140-9883 .- 1873-6181. ; 33:3, s. 480-487
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Tidskriftsartikel (refereegranskat)abstract
- The relationship between energy consumption and output is still ambiguous in the existing literature. The economy of Bangladesh, having spectacular output growth and rising energy demand as well as energy efficiency in recent decades, can be an ideal case for examining energy-output dynamics. We find that while fluctuations in energy consumption do not affect output fluctuations, movements in output inversely affect movements in energy use. The results of Granger causality tests in this respect are consistent with those of innovative accounting that includes variance decompositions and impulse responses. Autoregressive distributed lag models also suggest a role of output in Bangladesh's energy use. Hence, the findings of this study have policy implications for other developing nations where measures for energy conservation and efficiency can be relevant in policymaking.
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| 3. |
- Di Corato, Luca
(författare)
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Investing in biogas: Timing, technological choice and the value of flexibility from input mix
- 2011
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Ingår i: Energy Economics. - : Elsevier BV. - 0140-9883 .- 1873-6181. ; 33, s. 1186-1193
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Tidskriftsartikel (refereegranskat)abstract
- In a stochastic dynamic frame, we study the technology choice problem of a continuous co-digestion biogas plant where input factors are substitutes but need to be mixed together to provide output. Given any initial rule for the composition of the feedstock, we consider the possibility of revising it if economic circumstances make it profitable. Flexibility in the mix is an advantage under randomly fluctuating input costs and comes at a higher investment cost. We show that the degree of flexibility in the productive technology installed depends on the value of the option to profitably re-arrange the input mix. Such option adds value to the project in that it provides a device for hedging against fluctuations in the input relative convenience. Accounting for such value we discuss the trade-off between investment timing and profit smoothing flexibility. (C) 2011 Elsevier B.V. All rights reserved.
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| 4. |
- Ejarque, Joao
(författare)
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Evaluating the economic cost of natural gas strategic storage restrictions
- 2011
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Ingår i: Energy Economics. - : Elsevier BV. - 0140-9883. ; 33:1, s. 44-55
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Tidskriftsartikel (refereegranskat)abstract
- The European Commission wants to implement a single market for gas. One of the components of this market is a regulated provision for "security of supply" which consists of rules for the implementation and use of a given reserve stock of gas. We investigate the impact of this policy on the profitability of a storage operator, using data from Denmark and Italy. Keeping storage capacity constant, the costs of the strategic stock are around 20% of the value of the storage market for Denmark, and 16% for Italy. This cost is due to the inability to extract arbitrage profits from the captive stock. Furthermore, the strategic storage restriction induces behavior that would virtually never be replicated by a private storage operator in an unconstrained market, in particular in the first 6 months of the year when unconstrained firms empty their reservoirs much faster, suggesting the strategic restriction is unnecessarily distorting the market. (C) 2010 Published by Elsevier B.V.
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| 5. |
- Enflo, Kerstin, et al.
(författare)
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Causality Between Energy and Output in the Long-Run
- 2013
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Ingår i: Energy Economics. - : Elsevier BV. - 0140-9883. ; 39, s. 135-146
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Tidskriftsartikel (refereegranskat)abstract
- Though there is a very large literature examining whether energy use Granger causes economic output or vice versa, it is fairly inconclusive. Almost all existing studies use relatively short time series, or panels with a relatively small time dimension. We apply Granger causality and cointegration techniques to a Swedish time series dataset spanning 150 years to test whether increases in energy use and energy quality have driven economic growth or vice versa. We show that these techniques are very sensitive to variable definition, choice of additional variables in the model, sample periods and size, and the introduction of structural breaks. The relationship between energy and growth may also have changed over time - energy causes output in the full sample while output causes energy use in recent smaller samples. Energy prices have a more robust causal impact on both energy use and output.
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| 6. |
- Gebreegziabher, Zenebe, et al.
(författare)
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Urban energy transition and technology adoption: The case of Tigrai, northern Ethiopia
- 2012
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Ingår i: Energy Economics. - 0140-9883. ; 34:2, s. 410-418
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Tidskriftsartikel (refereegranskat)abstract
- Dependency of urban Ethiopian households on rural areas for about 85% of their fuel needs is a significant cause of deforestation and forest degradation, resulting in growing fuel scarcity and higher firewood prices. One response to reducing the pressure on rural lands is for urban households to switch fuel sources, for example, from wood fuel to electricity, to slow deforestation and forest degradation and reduce indoor air pollution. However, such an energytransition is conditioned on the adoption of appropriate cooking appliances or stove technologies by the majority of users. This paper investigates urbanenergytransition and technology adoption conditions using a dataset of 350 urban households in Tigrai, in northernEthiopia. Results suggest that the transition to electricity is affected by households adopting the electric mitad cooking appliance, which in turn is influenced by the level of education and income, among other things.
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| 7. |
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| 8. |
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| 9. |
- Hellström, Jörgen, 1970-, et al.
(författare)
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Why do electricity prices jump? : Empirical evidence from the Nordic electricity market
- 2012
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Ingår i: Energy Economics. - : Elsevier. - 0140-9883 .- 1873-6181. ; 34:6, s. 1774-1781
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Tidskriftsartikel (refereegranskat)abstract
- The paper empirically explores the possible causes behind electricity price jumps in the Nordic electricity market, Nord Pool. A time-series model (a mixed GARCH–EARJI jump model) capturing the common statistical features of electricity prices is used to identify price jumps. By the model, a categorical variable is defined distinguishing no, positive and negative jumps. The causes for the jumps are then explored through the use of ordered probit models in a second stage. The empirical results indicate that the structure of the market plays an important role in whether shocks in the demand and supply for electricity translate into price jumps.
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| 10. |
- Heshmati, Almas, et al.
(författare)
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Estimation of productivity in Korean electric power plants : A semiparametric smooth coefficient model
- 2014
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Ingår i: Energy Economics. - : Elsevier BV. - 0140-9883 .- 1873-6181. ; 45, s. 491-500
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Tidskriftsartikel (refereegranskat)abstract
- This paper analyzes the impact of load factor, facility and generator types on the productivity of Korean electric power plants. In order to capture important differences in the effect of load policy on power output, we use a semiparametric smooth coefficient (SPSC) model that allows us to model heterogeneous performances across power plants and over time by allowing underlying technologies to be heterogeneous. The SPSC model accommodates both continuous and discrete covariates. Various specification tests are conducted to assess the performance of the SPSC model. Using a unique generator level panel dataset spanning the period 1995-2006, we find that the impact of load factor, generator and facility types on power generation varies substantially in terms of magnitude and significance across different plant characteristics. The results have strong implications for generation policy in Korea as outlined in this study. (C) 2014 Elsevier B.V. All rights reserved.
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