Three Essays On The Changing U S Electricity Industry
DOWNLOAD
Download Three Essays On The Changing U S Electricity Industry PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Three Essays On The Changing U S Electricity Industry book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Three Essays On The Changing U S Electricity Industry
DOWNLOAD
Author : Theodore J. Kury
language : en
Publisher:
Release Date : 2013
Three Essays On The Changing U S Electricity Industry written by Theodore J. Kury and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The third essay utilizes a model that simulates the dispatch of electric generating units in the state of Florida under various prices for CO2 emissions, and analyzes the challenges that may arise in the determination of optimal emissions abatement policy. It finds that the rate of abatement varies considerably with the price of CO2 emissions. It demonstrates how the incremental cost curve of emissions abatement may intersect with a CO2 tax at many levels of abatement, allowing for different characterizations of the \U+2018\optimum'.
Three Essays On Energy Economics
DOWNLOAD
Author : Louis Demetri Preonas
language : en
Publisher:
Release Date : 2018
Three Essays On Energy Economics written by Louis Demetri Preonas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Electricity powers the modern economy, and the electricity supply chain is notoriously complex. Power plants must develop stable relationships for fuel procurement, as their long-run profitability hinges on securing a cheap, reliable fuel supply. Electric utilities may also lack the incentive to provide a reliable power supply to all potential customers, which could hamper economic productivity. The physical properties of electricity transmission create inherent challenges in providing power to all regions of the grid, while simultaneously incentivizing economically efficient production decisions. In this dissertation, I study three potential market failures in electricity supply: (i) market power in U.S. coal transportation; (ii) under-electrification of India’s rural poor; and (iii) short-run allocative inefficiencies in Indian electricity dispatch. In each case, my findings are of substantial economic importance due the scale of the electric power industry, which is essential to virtually all economic activity. Climate change only raises the stakes, and alleviating electricity market failures has the potential to increase carbon dioxide emissions and further harm the planet. In the first chapter, I investigate how market power in the transportation of coal might impact U.S. climate policies. Economists have widely endorsed pricing CO2 emissions to internalize climate change-related externalities. Doing so would significantly affect coal, which is the most carbon-intensive major energy source. However, U.S. coal markets exhibit an additional distortion, as the railroads that transport coal to power plants can exert market power. This upstream distortion can mute the price signal of a corrective tax, due to changes in markups or incomplete tax pass-through. I provide the first empirical estimates of how coal-by-rail markups respond to changes in coal demand. I find that rail carriers reduce coal markups when downstream power plant demand changes, due to a decrease in the price of natural gas (a competing fuel). I estimate markup changes that vary substantially across coal plants, resulting from a combination of heterogeneous transportation market structure and plant-specific demand shocks. Since low natural gas prices and a CO2 emissions tax similarly disadvantage coal, observed decreases in coal markups imply that pass-through of a federal carbon tax to coal power plants may be heterogeneous and incomplete. This could substantially erode the environmental benefits of a price-based climate policy. My results suggest that decreases in coal markups have increased recent climate damages by $2.3 billion, compared to a counterfactual where markups do not change. In the second chapter, coauthored with Fiona Burlig, we study the impacts of energy access in the developing world. Over 1 billion people still lack electricity access. Developing countries are investing billions of dollars in rural electrification, targeting economic growth and poverty reduction, despite limited empirical evidence. We estimate the effects of rural electrification on economic development in the context of India’s national electrification program, which reached over 400,000 villages. We use a regression discontinuity design and high-resolution geospatial data to identify medium-run economic impacts of electrification. We find a substantial increase in electricity use, but reject effects larger than 0.26 standard deviations across numerous measures of economic development, suggesting that rural electrification may be less beneficial than previously thought. In the third chapter, coauthored with Fiona Burlig and Akshaya Jha, we examine short-run allocative inefficiencies in Indian electricity supply. Electricity consumption is highly correlated with economic development. Understanding and resolving the drivers of economic inefficiencies in electricity markets is critical to supporting economic growth. We quantify the costs of short-run misallocation in Indian electricity supply. We assemble a novel dataset on daily production from each utility-scale power plant in the country and administrative measures of plant-specific marginal operating costs, and calculate the total variable costs of electricity generation in India to be approximately $29 billion per year. We next construct the “least-cost” counterfactual where we dispatch power plants in order of lowest-to-highest marginal cost. We find that this least-cost dispatch results in total annual operating costs that are roughly $4.7 billion lower than observed dispatch. Once we account for transmission constraints, we find a remaining misallocation wedge of $3.2 billion per year. We find evidence that this wedge results from market design and political economy considerations, but find little evidence of market power.
Three Essays On Empirical Analysis Of United States Electricity Markets
DOWNLOAD
Author : Suman Gautam
language : en
Publisher:
Release Date : 2014
Three Essays On Empirical Analysis Of United States Electricity Markets written by Suman Gautam and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
In this Dissertation, three independent studies analyze the impact of recent changes in both supply and demand sides of the U.S. electricity sector. Below is a brief description of three essays. I. Coal Plant's Response to Renewable Portfolio StandardsRenewable Portfolio standards require load-serving entities to purchase a given percentage of their electricity sales from eligible renewable energy technologies. This study analyzes the impact of RPS on the coal utilization by coal plants of Pennsylvania, New Jersey, and Maryland (PJM) electricity market. We develop a panel dataset of 259 unique PJM coal-fired utility plants' integrating their fuel purchases with state-level RPS energy mandates, electricity prices, and fuel prices from 2001 to 2011, covering both pre-RPS and post-RPS era. Since selection of RPS policies may be non-random, we employ a two-step Heckit model to control for states' decision to adopt an RPS and choose yearly RPS levels. The results show that a percentage point increase in state's yearly energy target increases the average plant's coal purchase by 45 thousand tons. These results are approximately consistent across selection-corrected models. The analysis showing the positive impact of RPS yearly targets on PJM coal plants' coal purchases suggests a few things. There are fewer coal plants operating at the margin. Moreover, RPS yearly energy targets are fairly low at present; they are scheduled to increase considerably in coming years. Renewable Portfolio Standards may decrease the amount of fuel utilized by coal plants when RPS mandates increase in future. II. Residential Customers Response to Critical Peak Events of Electricity: Green Mountain Power ExperienceDemand response (DR) programs, usually through peak pricing and incentive-based approaches, can encourage customers to reduce or shift consumption during peak periods. This benefits utilities by lowering short-run generation costs and reducing the need for some long-run peak-driven investments. This paper analyzes the impact of Vermont's Green Mountain Power's (GMP) emergency DR programs on residential customers' electricity consumption during a two-year pilot study program in 2012--2013. The 3,735 single-home residents of Central Vermont area were separated into six treatment groups and two control groups resulting into 26 million hourly load observations during the period of the study. Our analysis shows that incentive-based demand response programs have statistically significant impacts on reducing peak load. Specifically, CPR rates reduced peak load usage 6% to 7.7% and CPP rates reduced peak load between 6.8% and 10.3% during critical peak events. Moreover, on average, IHD-equipped participants' monthly energy consumption was 2.0% to 5.3% lower than the monthly energy usage of non-IHD customers. However, none of the CP rate and IHD treatments induced a persistent response across multiple critical events and none of the treatment groups exhibited a consistent response to critical peak events. Based on our evaluation of GMP's DR programs during 2012 and 2013, neither critical peak pricing nor rebates are themselves sufficient to substitute for new capacity to meet resource adequacy requirements.III. Analysis of Load and Price patterns in the U.S. Electricity SectorThe study analyzes hourly electricity loads and marginal costs of electric entities with of extreme value theory (EVT), a concept widely used in the financial sector. For each year's hourly data of balancing authorities and utilities, we fit generalized extreme value (GEV) distribution and estimate the parameters of the distribution with an aim of comparing how these parameters have changed over time and market regions. We also account for the time dependencies, seasonalities, and near-time clustering present in the electricity markets -- both for electricity load and prices -- with the help of autoregressive conditional hetereskedastic models. The results show that the distributions of hourly load and lambda values are fat tailed. Hourly lambda values have more extreme values generating fatter tails than hourly electricity load. We also show that extreme tail quantiles estimated with the GEV parameters at different percentile levels are comparable with the percentiles of actual observations.
Three Essays On Making Electric Power Markets
DOWNLOAD
Author : Brian Thomas Kench
language : en
Publisher:
Release Date : 2000
Three Essays On Making Electric Power Markets written by Brian Thomas Kench and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
Three Essays On Energy Economics And Policy
DOWNLOAD
Author : Zhi Li
language : en
Publisher:
Release Date : 2015
Three Essays On Energy Economics And Policy written by Zhi Li and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Many changes are needed to shift the economy from business as usual to a sustainable track in both developed and developing countries. Technology innovation, especially related to clean energy and energy efficient, is needed to meet the requirement of such economy shift, and is receiving considerable and increasing attention. Governments have applied large numbers of energy and environmental policies to stimulate the clean energy innovations and support the development of related industries. Hence, it is important and necessary to better understand and assess the impact of policy instruments and key factors in the clean energy sector.My dissertation include three studies related to the clean energy technologies and the industry development. Several conclusions are drawn. First, by investigating the effect of "innovating-by-implementing" in the context of the US LEED building program, I find that implementation experience of utilizing energy efficient technologies in building construction and renovation makes important contribution to innovations in energy efficient building technologies. The second study examines the impact of a specific industry policy -- export restriction on raw materials -- on rare earth downstream industries, which is related to a lot of clean energy products. The result suggests that China's REEs export restriction policies have worked effectively as an industrial policy to induce FDIs and technology transfer by foreign downstream firms and promote domestic downstream industries. The third study analyzes the US innovation related to REEs technologies in the context of innovation system, and it shows that the US has lost its leadership in downstream innovation in REEs, in response to the removal of upstream producers in the innovation system.
Three Essays On Productivity And Research And Development In U S Investor Owned Electric Utilities
DOWNLOAD
Author : Haru Connolly
language : en
Publisher:
Release Date : 1997
Three Essays On Productivity And Research And Development In U S Investor Owned Electric Utilities written by Haru Connolly and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
Electricity Restructuring In The United States
DOWNLOAD
Author : Steve Isser
language : en
Publisher: Cambridge University Press
Release Date : 2015-04-16
Electricity Restructuring In The United States written by Steve Isser and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-16 with Business & Economics categories.
Steve Isser provides a generalist history of electricity policy from the 1978 Energy Policy Act to the present, covering the economic, legal, regulatory, and political issues and controversies in the transition from regulated utilities to competitive electricity markets.
Three Essays On Market Power In The U S Cattle Procurement Market
DOWNLOAD
Author : In-bae Chi
language : en
Publisher:
Release Date : 2011
Three Essays On Market Power In The U S Cattle Procurement Market written by In-bae Chi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
The third essay uses the new empirical industrial organization approach with the Bertrand model to measure the oligopsony market power in the U.S. cattle procurement market. It tests whether the market power is caused by concentration, cattle cycle, and seasonality. The results show that the oligopsony market power exists in the U.S. cattle procurement market. The cattle cycle and seasonality affect the oligopsony market power and the cattle cycle causes the change in market power. However, concentration has a negative effect on the oligopsony market power.
Three Essays And Three Revolutions
DOWNLOAD
Author : Francis Goskowski
language : en
Publisher: Strategic Book Publishing
Release Date : 2012-06-07
Three Essays And Three Revolutions written by Francis Goskowski and has been published by Strategic Book Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-07 with Philosophy categories.
If you have ever wondered why American Catholics and American Protestants in the mainline denominations in 2011 believe and worship in very similar ways; why Democrats and Republicans accept the necessity of governmental intervention to secure the "safety net" of services citizens may need to access at various times in their lives; and why average American workers in their pivotal role as producers and consumers of goods and services "own" the nation's economy; Three Essays and Three Revolutions is the book for you.Author Francis Goskowski argues that Martin Luther, Jean-Jacques Rousseau, and Karl Marx, three "Founding Fathers" of the modern world, are responsible for the "big ideas" that have shaped current thinking in religion, politics, and economics. By closely examining one important work of each thinker, the author shows how the revolutionary concepts Luther, Rousseau, and Marx advanced, provoked fierce opposition within the prevailing order, but ultimately gained acceptance in all circles, evidenced by the fundamental agreement on religious liberty, civic equality, and economic justice apparent throughout the Western world today.This eloquently written, thought-provoking, and sensibly priced collection of essays...is timely and long overdue. Three Essays and Three Revolutions is the sort of wonderful book of which any aspiring writer might wish to claim authorship. I am sure that it will be wisely read, thoughtfully debated, and much treasured in the years ahead. - John Quentin Feller, Ph.D., K.H.S., former professor of history and historical consultant to the late Cardinal Lawrence J. Shehan and retired Cardinal William H. Keeler, 12th and 14th Archbishops of Baltimore respectively.
The Fourth Industrial Revolution
DOWNLOAD
Author : Klaus Schwab
language : en
Publisher: Penguin UK
Release Date : 2017-01-03
The Fourth Industrial Revolution written by Klaus Schwab and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-03 with Business & Economics categories.
The founder and executive chairman of the World Economic Forum on how the impending technological revolution will change our lives We are on the brink of the Fourth Industrial Revolution. And this one will be unlike any other in human history. Characterized by new technologies fusing the physical, digital and biological worlds, the Fourth Industrial Revolution will impact all disciplines, economies and industries - and it will do so at an unprecedented rate. World Economic Forum data predicts that by 2025 we will see: commercial use of nanomaterials 200 times stronger than steel and a million times thinner than human hair; the first transplant of a 3D-printed liver; 10% of all cars on US roads being driverless; and much more besides. In The Fourth Industrial Revolution, Schwab outlines the key technologies driving this revolution, discusses the major impacts on governments, businesses, civil society and individuals, and offers bold ideas for what can be done to shape a better future for all.