Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8469863
K. Dobrzyński, J. Klucznik, Z. Lubośny, M. Jaskólski, P. Bućko
In 2015 a connection between the Polish and Lithuanian power systems become fully operational. The connection consists of a 400 kV double circuit transmission line and a back-to-back HVDC substation located on the Lithuanian side. A magnetic couplings between the circuits of the transmission line cause that during power transmission a different values of active power losses are observed in both circuits. This situation may cause a financial settlement problems for transmitted energy between the operators of the connected systems.
{"title":"Cross-Border Transmission Line Configuration Influence on the Electrical Power and Energy Billing Process","authors":"K. Dobrzyński, J. Klucznik, Z. Lubośny, M. Jaskólski, P. Bućko","doi":"10.1109/EEM.2018.8469863","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469863","url":null,"abstract":"In 2015 a connection between the Polish and Lithuanian power systems become fully operational. The connection consists of a 400 kV double circuit transmission line and a back-to-back HVDC substation located on the Lithuanian side. A magnetic couplings between the circuits of the transmission line cause that during power transmission a different values of active power losses are observed in both circuits. This situation may cause a financial settlement problems for transmitted energy between the operators of the connected systems.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116444274","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8469778
A. Narayanan, Jouni Haapaniemi, T. Kaipia, J. Partanen
Due to the proliferation of renewables-based distributed energy resources, many electricity customers today consume and produce electricity. Since prosumers can benefit from supplying surplus electricity to consumers with electricity deficits, (p2p) peer-to-peer electricity exchange has been proposed for low-voltage (LV) microgrids forming “community microgrids.” The distribution system operator (DSO), who is an important stakeholder in LV networks, has an income that is largely energy dependent. However, energy-based tariffs (EBT) do not reflect the true cost of a DSO's network investment that is highly dependent on the peak power in the network. A power-based distribution tariff (PBT) scheme where customers pay for their peak load (€/kW) instead of consumed energy (€/kWh) has been proposed. In this paper, we evaluate the economic impacts of revising the tariff structure from EBT to PBT on customers participating in p2p community microgrids with photovoltaic (PV) installations. We consider four different Finnish customer types and compare the benefits obtained by 36 customers of each type after their EBT was replaced by PBT. We apply PBT also to the power supplied by prosumers to their peers. Nearly all the customers (expectedly) benefited from electricity exchange especially for the typical PV system size of 5 kWp. When the PV system Sizes were increased, the benefits decreased and became negative at PV system size ≥ 17.5 kWp,. In particular, the savings in EBT and PBT cases were similar-the tariff change from EBT to PBT did not significantly affect the customers' benefits from electricity exchange.
{"title":"Economic Impacts of Power-Based Tariffs on Peer-to-Peer Electricity Exchange in Community Microgrids","authors":"A. Narayanan, Jouni Haapaniemi, T. Kaipia, J. Partanen","doi":"10.1109/EEM.2018.8469778","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469778","url":null,"abstract":"Due to the proliferation of renewables-based distributed energy resources, many electricity customers today consume and produce electricity. Since prosumers can benefit from supplying surplus electricity to consumers with electricity deficits, (p2p) peer-to-peer electricity exchange has been proposed for low-voltage (LV) microgrids forming “community microgrids.” The distribution system operator (DSO), who is an important stakeholder in LV networks, has an income that is largely energy dependent. However, energy-based tariffs (EBT) do not reflect the true cost of a DSO's network investment that is highly dependent on the peak power in the network. A power-based distribution tariff (PBT) scheme where customers pay for their peak load (€/kW) instead of consumed energy (€/kWh) has been proposed. In this paper, we evaluate the economic impacts of revising the tariff structure from EBT to PBT on customers participating in p2p community microgrids with photovoltaic (PV) installations. We consider four different Finnish customer types and compare the benefits obtained by 36 customers of each type after their EBT was replaced by PBT. We apply PBT also to the power supplied by prosumers to their peers. Nearly all the customers (expectedly) benefited from electricity exchange especially for the typical PV system size of 5 kWp. When the PV system Sizes were increased, the benefits decreased and became negative at PV system size ≥ 17.5 kWp,. In particular, the savings in EBT and PBT cases were similar-the tariff change from EBT to PBT did not significantly affect the customers' benefits from electricity exchange.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117020801","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8469788
D. Jakus, J. Vasilj, P. Sarajcev, Joško Novaković
In the electricity markets every deviation between the contracted power production and the real energy supplied is usually penalized or paid according to the market prices. This gives incentive to the market participants to provide accurate production schedules. Wind power producers (WPP) can generate production forecasts with limited accuracy due to wind nature itself. In the markets where WPP are treated as a balance responsible parties they will account for the day-ahead market prices and balancing energy prices when placing market bids in order to maximize their profit. This paper presents mixed integer optimization model for the optimal bidding of WPP production in the day-ahead market in order to minimize imbalance costs. The uncertainty related to the market prices on the day-ahead and balancing markets as well as WPP forecasts is accounted for by considering large scenario set which is than reduced by applying the fast forward scenario reduction algorithm.
{"title":"Maximization of Expected Wind Power Plant Profit Through Optimal Offers on the Day-Ahead Market","authors":"D. Jakus, J. Vasilj, P. Sarajcev, Joško Novaković","doi":"10.1109/EEM.2018.8469788","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469788","url":null,"abstract":"In the electricity markets every deviation between the contracted power production and the real energy supplied is usually penalized or paid according to the market prices. This gives incentive to the market participants to provide accurate production schedules. Wind power producers (WPP) can generate production forecasts with limited accuracy due to wind nature itself. In the markets where WPP are treated as a balance responsible parties they will account for the day-ahead market prices and balancing energy prices when placing market bids in order to maximize their profit. This paper presents mixed integer optimization model for the optimal bidding of WPP production in the day-ahead market in order to minimize imbalance costs. The uncertainty related to the market prices on the day-ahead and balancing markets as well as WPP forecasts is accounted for by considering large scenario set which is than reduced by applying the fast forward scenario reduction algorithm.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121642716","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8469868
Pablo Diaz-Cachinero, J. I. Muñoz-Hernandez, J. Contreras
Due to the growth in the use of renewable energies, the implantation of Energy Storage Systems (ESSs) and the use of Electric Vehicles (EVs), there is a need for optimization models to address these issues in distribution systems. An example of this is the operation of a Microgrid (MG) where the operation cost is optimized. Renewable resources such as wind and solar energy and Distributed Generation (DG) are very important in an MG. In addition, the rise of EVs in distribution systems makes their operation more difficult. This work proposes a linear model to optimize the operation of an MG using a linear AC power flow, renewable resources, DG, Battery Bank (BB) degradation costs and EVs applied to the IEEE 37-bus system. For the creation of EVs scenarios, a software application has been developed using Visual Basic®, MS Excel® and @RISK® to generate them using Monte Carlo simulation.
{"title":"A Linear Model for Operating Microgrids with Renewable Resources, Battery Degradation Costs and Electric Vehicles","authors":"Pablo Diaz-Cachinero, J. I. Muñoz-Hernandez, J. Contreras","doi":"10.1109/EEM.2018.8469868","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469868","url":null,"abstract":"Due to the growth in the use of renewable energies, the implantation of Energy Storage Systems (ESSs) and the use of Electric Vehicles (EVs), there is a need for optimization models to address these issues in distribution systems. An example of this is the operation of a Microgrid (MG) where the operation cost is optimized. Renewable resources such as wind and solar energy and Distributed Generation (DG) are very important in an MG. In addition, the rise of EVs in distribution systems makes their operation more difficult. This work proposes a linear model to optimize the operation of an MG using a linear AC power flow, renewable resources, DG, Battery Bank (BB) degradation costs and EVs applied to the IEEE 37-bus system. For the creation of EVs scenarios, a software application has been developed using Visual Basic®, MS Excel® and @RISK® to generate them using Monte Carlo simulation.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124557846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8469881
Krzysztof Drachal
The biggest advantage of Bayesian approach is that it allows to use data-rich models in a reasonable way. The conventional approach is not suitable when the number of variables exceeds the number of observations. Bayesian formulas remain reasonable in such a case. Researchers usually deal with numerous potentially important variables in forecasting. Newly methods like Dynamic Model Averaging (DMA), Dynamic Model Selection (DMS) and Median Probability Model nicely deal with model uncertainty. The study discusses energy commodity prices development. FRED-MD large macroeconomic database is applied. Forecasting commodities prices is a hard task. Therefore, it seems interesting to check the novel methodology. It allows both explanatory variables and regression coefficients to vary in time. Thus in different periods, different factors can be treated as the important ones.
贝叶斯方法的最大优点是它允许以合理的方式使用数据丰富的模型。当变量的数量超过观测值的数量时，传统的方法就不适用了。在这种情况下，贝叶斯公式仍然是合理的。在预测中，研究人员通常要处理许多潜在的重要变量。动态模型平均(DMA)、动态模型选择(DMS)和中值概率模型(Median Probability Model)等新方法很好地处理了模型的不确定性。本研究讨论了能源商品价格的发展。采用FRED-MD大型宏观经济数据库。预测大宗商品价格是一项艰巨的任务。因此，检验这种新颖的方法论似乎很有趣。它允许解释变量和回归系数随时间变化。因此，在不同的时期，不同的因素可以被视为重要的。
{"title":"Forecasting Energy Commodities Prices with Bayesian Model Combination Schemes","authors":"Krzysztof Drachal","doi":"10.1109/EEM.2018.8469881","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469881","url":null,"abstract":"The biggest advantage of Bayesian approach is that it allows to use data-rich models in a reasonable way. The conventional approach is not suitable when the number of variables exceeds the number of observations. Bayesian formulas remain reasonable in such a case. Researchers usually deal with numerous potentially important variables in forecasting. Newly methods like Dynamic Model Averaging (DMA), Dynamic Model Selection (DMS) and Median Probability Model nicely deal with model uncertainty. The study discusses energy commodity prices development. FRED-MD large macroeconomic database is applied. Forecasting commodities prices is a hard task. Therefore, it seems interesting to check the novel methodology. It allows both explanatory variables and regression coefficients to vary in time. Thus in different periods, different factors can be treated as the important ones.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129056362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8469841
C. Ripp, Florian Steinke
CO2 emission reduction and increasing volatile renewable energy generation mandate stronger energy sector coupling and the use of energy storage. In such multi-modal energy systems, it is challenging to assess the exact impact of consumption changes onto overall CO2 emissions. This, however, is important to evaluate individual CO2 reduction measures of consumers. Due to renewables' volatility, yearly average CO2 intensities per energy form are no longer accurate, but the time of consumption should be considered. Moreover, CO2 intensities are highly coupled over time and different energy forms due to sector coupling and energy storage. We describe a novel method for computing time-dependent CO2 intensities for each energy form of a multi-modal energy system with storage. We use the input and output energy streams into each conversion process as well as storage levels at each time step. Simulating a test energy system, we discuss the results and limits of the approach.
{"title":"A First Shot at Time-Dependent CO2 Intensities in Multi-Modal Energy Systems","authors":"C. Ripp, Florian Steinke","doi":"10.1109/EEM.2018.8469841","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469841","url":null,"abstract":"CO2 emission reduction and increasing volatile renewable energy generation mandate stronger energy sector coupling and the use of energy storage. In such multi-modal energy systems, it is challenging to assess the exact impact of consumption changes onto overall CO2 emissions. This, however, is important to evaluate individual CO2 reduction measures of consumers. Due to renewables' volatility, yearly average CO2 intensities per energy form are no longer accurate, but the time of consumption should be considered. Moreover, CO2 intensities are highly coupled over time and different energy forms due to sector coupling and energy storage. We describe a novel method for computing time-dependent CO2 intensities for each energy form of a multi-modal energy system with storage. We use the input and output energy streams into each conversion process as well as storage levels at each time step. Simulating a test energy system, we discuss the results and limits of the approach.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129309083","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8469929
Jouni Haapaniemi, J. Haakana, N. Belonogova, J. Lassila, J. Partanen
Distribution system operators' (DSO) operating environment is changing significantly since customers' distributed production, electric vehicles, heat pump systems and battery energy storage systems (BESS) are becoming more common. In this paper, the proportion of rural area customers in Nordic conditions who could go off-grid and operate independently by investing in solar photovoltaics (PV) and BESS is studied. Further, the effects on these customers' electricity bill is studied, and thereby to grid defection profitability, if DSO changes tariff system towards power-based tariff (PBT) is examined. Analyses are conducted with real customers' hourly load data from four different case areas, covering a total of 10808 customers. The study shows that the number of possible customers in the studied rural case areas is 8-19 %. If DSO changes the tariff structure from energy-based tariffs to power-based tariffs, it has significant effects on grid defection profitability whether the tariff structure includes minimum charged power or not.
{"title":"Changing to Power-Based Grid Pricing - An Incentive for Grid Defections in Nordic Conditions?","authors":"Jouni Haapaniemi, J. Haakana, N. Belonogova, J. Lassila, J. Partanen","doi":"10.1109/EEM.2018.8469929","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469929","url":null,"abstract":"Distribution system operators' (DSO) operating environment is changing significantly since customers' distributed production, electric vehicles, heat pump systems and battery energy storage systems (BESS) are becoming more common. In this paper, the proportion of rural area customers in Nordic conditions who could go off-grid and operate independently by investing in solar photovoltaics (PV) and BESS is studied. Further, the effects on these customers' electricity bill is studied, and thereby to grid defection profitability, if DSO changes tariff system towards power-based tariff (PBT) is examined. Analyses are conducted with real customers' hourly load data from four different case areas, covering a total of 10808 customers. The study shows that the number of possible customers in the studied rural case areas is 8-19 %. If DSO changes the tariff structure from energy-based tariffs to power-based tariffs, it has significant effects on grid defection profitability whether the tariff structure includes minimum charged power or not.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130735788","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8469793
Niels Govaerts, K. Bruninx, E. Delarue
The distribution tariff design, which is currently being overhauled in multiple European countries, is a significant part of a residential consumer's electricity bill. This paper studies how the tariff design influences the behavior of a strategic aggregator, of residential consumers with photovoltaics (PV) and energy storage systems (ESS), on a wholesale market. The aggregator-wholesale market interaction is formulated as a Stackelberg game. We show that the distribution tariff design impacts the strategic operation of the aggregator's PV and ESS and the accompanying cost savings the aggregator attains compared to a retailer of active consumers.
{"title":"Impact of Distribution Tariff Design on the Profitability of Aggregators of Distributed Energy Storage Systems","authors":"Niels Govaerts, K. Bruninx, E. Delarue","doi":"10.1109/EEM.2018.8469793","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469793","url":null,"abstract":"The distribution tariff design, which is currently being overhauled in multiple European countries, is a significant part of a residential consumer's electricity bill. This paper studies how the tariff design influences the behavior of a strategic aggregator, of residential consumers with photovoltaics (PV) and energy storage systems (ESS), on a wholesale market. The aggregator-wholesale market interaction is formulated as a Stackelberg game. We show that the distribution tariff design impacts the strategic operation of the aggregator's PV and ESS and the accompanying cost savings the aggregator attains compared to a retailer of active consumers.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130236943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8628003
Theodosios Perifanis, I. Panapakidis, A. Dagoumas
The European Union formed a strategy with the Energy Union towards the delivery of secure, competitive, and sustainable energy. The Energy Union targets at a fully integrated internal energy market, which requires infrastructure, leaving market fundamentals to drive energy pricing. The European Union swifts to natural gas as its primary energy source. So far the natural gas supply has been conducted via inter-state pipelines and priced through oil-indexed contracts. In our research, we study whether there are price spillovers from oil to natural gas, and vice versa. This paper studies the oldest gas virtual trading point in Europe, National Balancing Point. It is considered as one of the most liquid and transparent gas markets. In order to fully cover every aspect, we use Wald tests, cointegration tests, asymmetric price transmission methodology, and Diebold and Mariano tests. We reach conclusions on commodities’ independence and we present their time varying relationship.
{"title":"The relationship between the brent crude oil and the national balancing point natural gas prices","authors":"Theodosios Perifanis, I. Panapakidis, A. Dagoumas","doi":"10.1109/EEM.2018.8628003","DOIUrl":"https://doi.org/10.1109/EEM.2018.8628003","url":null,"abstract":"The European Union formed a strategy with the Energy Union towards the delivery of secure, competitive, and sustainable energy. The Energy Union targets at a fully integrated internal energy market, which requires infrastructure, leaving market fundamentals to drive energy pricing. The European Union swifts to natural gas as its primary energy source. So far the natural gas supply has been conducted via inter-state pipelines and priced through oil-indexed contracts. In our research, we study whether there are price spillovers from oil to natural gas, and vice versa. This paper studies the oldest gas virtual trading point in Europe, National Balancing Point. It is considered as one of the most liquid and transparent gas markets. In order to fully cover every aspect, we use Wald tests, cointegration tests, asymmetric price transmission methodology, and Diebold and Mariano tests. We reach conclusions on commodities’ independence and we present their time varying relationship.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129286867","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-01DOI: 10.1109/EEM.2018.8469850
F. Rubio, M. Robaina, F. A. Campos, J. Villar
This work combines a detailed model of the electricity sector with a general equilibrium model for Spain, to analyze the effects of new investments and technological evolution in the electricity sector, as well as their impact in global aspects of the economy. A reference scenario with high prices for CO2emissions together with insufficient investments in renewable energy was simulated, showing an expected negative economic impact. This scenario was then combined with five potential policies of economic reactivation. The most positive one was related to the reduction of the cost of access to capital, leading to improvements in capital income and GDP, thus mitigating the impact of the electricity price increase. This policy also leads to a migration of the labour from the production to the service sectors and suggests that a transition towards a cleaner electricity sector with minor economic impacts is possible, when energy policies are combined with adequate fiscal policies.
{"title":"Economic Impact of Investments in the Electricity Sector - A Hybrid General Equilibrium and Technological Analysis","authors":"F. Rubio, M. Robaina, F. A. Campos, J. Villar","doi":"10.1109/EEM.2018.8469850","DOIUrl":"https://doi.org/10.1109/EEM.2018.8469850","url":null,"abstract":"This work combines a detailed model of the electricity sector with a general equilibrium model for Spain, to analyze the effects of new investments and technological evolution in the electricity sector, as well as their impact in global aspects of the economy. A reference scenario with high prices for CO2emissions together with insufficient investments in renewable energy was simulated, showing an expected negative economic impact. This scenario was then combined with five potential policies of economic reactivation. The most positive one was related to the reduction of the cost of access to capital, leading to improvements in capital income and GDP, thus mitigating the impact of the electricity price increase. This policy also leads to a migration of the labour from the production to the service sectors and suggests that a transition towards a cleaner electricity sector with minor economic impacts is possible, when energy policies are combined with adequate fiscal policies.","PeriodicalId":334674,"journal":{"name":"2018 15th International Conference on the European Energy Market (EEM)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130048359","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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