This paper reviews major findings and insights from a series of integrated geologic, engineering, economic, and econometric analyses performed on the four largest U.S. shale gas plays. Developments in the Barnett Shale, Fayetteville Shale, Haynesville Shale, and Marcellus Shale plays are explained on the basis of a comprehensive data set, including existing wells production histories,…
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Incentive Regulation of Electricity and Gas Networks in the UK: From RIIO-1 to RIIO-2
The regulatory and operating context of energy networks is dynamic and constantly evolving. Achieving a multitude of economic, environmental, social and policy objectives is a challenging task for the sector regulators. In 2010, the UK energy regulator Ofgem replaced its approach to energy network price control and incentive regulation with a Revenue-Incentive-Innovation-Output (RIIO-1) model. This…
Different Cost Perspectives for Renewable Energy Support: Assessment of Technology-neutral and Discriminatory Auctions
Auctions are the prevalent instrument for promoting renewable energy sources worldwide, especially in the European Union and in Latin America. Auctions enable the controlled deployment of renewable energy sources while reducing costs. However, there are different views on relevant costs, auction targets, and their implications on the auction design. Here, the application of technology-neutral auctions…
Promoting Large and Closing Small in China’s Coal Power Sector 2006–2013: A CO2 Mitigation Assessment Based on a Vintage Structure
In the period 2006-2013, China’s power sector adopted a policy which aimed to add large scale units (larger than 600 MW) and decommission small, old (but still technically functioning) and inefficient power plants in order to accelerate energy saving and mitigate emissions. The early-retirement (ER) of nearly 90 GW of capacity and massive new coal…
New Alignments? The Geopolitics of Gas and Oil Cartels and the Changing Middle East
The ongoing democratic movements and civil wars in the Middle East have challenged the stability of regimes across the region. On the other hand, the commercial exploitation of large reserves of unconventional oil and gas in the United States is poised to significantly change the current equilibrium in energy markets. What are the implications of…
Energy subsidies: How large are they and how can they be reformed?
Energy subsidies are pervasive. Pretax subsidies, which arise when energy consumers pay less than the supply cost of energy, are high in many developing and emerging economies. Although pretax subsidies are not prevalent in advanced economies, they have large tax subsidies. These arise when energy is taxed below the rate of other consumption goods and…
Do Consumers Want Smart Meters? Incentives or Inertia: Evidence from North Carolina and Lessons for Policy
In an effort to improve efficiency of electrical markets the U.S. government hopes to encourage changing household use patterns, such as dishwasher and clothes dryer use, to off-peak times. One strategy has been to subsidize the installation of smart meters. In addition the government has encouraged electrical energy conservation by providing incentives for energy saving…
Germany’s Nuclear Phase-out: Sensitivities and Impacts on Electricity Prices and CO2 Emissions
Following the nuclear meltdown in Fukushima Daiichi, in summer 2011 the German parliament decided to phase-out nuclear power by 2022. When this decision was taken, a number of model-based analyses investigated the influence this decision would have on electricity prices and CO2 emissions. They concluded that CO2 emissions would be kept at levels that are…
Book Reviews
Technological Advance in Cooling Systems at U.S. Power Plants
Prior to adoption of the 1972 Clean Water Act (CWA) most U.S. power plants used once-through cooling water systems that discharged large quantities of warm water. This resulted in significant amounts of thermal pollution in neighboring bodies of water. The CWA essentially mandated recirculating systems for new facilities. This paper investigates whether there was technological…