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Article
Publication date: 1 May 2005

Wilco W. Chan

The over‐estimation of the energy requirements in new hotels would not only increase energy consumption but also result in other additional costs. To address this issue…

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Abstract

Purpose

The over‐estimation of the energy requirements in new hotels would not only increase energy consumption but also result in other additional costs. To address this issue, this study attempts to establish the benchmark of electricity consumption and models energy demand of hotels.

Design/methodology/approach

A survey of 17 hotels and two power suppliers was conducted. Two approaches, namely averaging and multiple regression, were used to analyze the data.

Findings

The former approach found that the average electricity usage was 313 kWh/m2/year for city hotels in subtropical areas. The multivariate analysis revealed two significant variables – cooling degree day and number of occupied rooms– which determine the level of electricity consumption. Based on these findings, projections on electricity consumption for hotels in the next few years were made.

Originality/value

This study provides a fine‐tuned norm of electricity consumption, confirms the best temperature of cooling degree days for modeling electricity demand and further highlights some practical measures on saving electricity.

Details

International Journal of Contemporary Hospitality Management, vol. 17 no. 3
Type: Research Article
ISSN: 0959-6119

Keywords

Book part
Publication date: 27 August 2014

Kevin Jones

This chapter focuses on the common occurrence of wholesale electricity prices that fall below the cost of production. This “negative pricing” in effect represents payment…

Abstract

This chapter focuses on the common occurrence of wholesale electricity prices that fall below the cost of production. This “negative pricing” in effect represents payment to high-volume consumers for taking excess power off the grid, thus relieving overload. Occurrences of negative pricing have been observed since the wholesale electricity markets have been operating, and occur during periods of low demand, while generators are being kept in reserve for rapid engagement when demand increases (it is expensive and time-consuming to shut down generators and then restart them, so they are often kept in “spooling mode”). In such situations power production may temporarily exceed demand, potentially overloading the system. When the federal government began subsidizing the construction of wind generation projects, with regulations in place requiring transmission grids to accept all of the electricity produced by the wind generators, negative pricing became more frequent.

Details

Research in Finance
Type: Book
ISBN: 978-1-78190-759-7

Abstract

Details

Changes in European Energy Markets
Type: Book
ISBN: 978-1-83909-110-0

Abstract

Details

Energy Economics
Type: Book
ISBN: 978-1-78756-780-1

Book part
Publication date: 22 September 2015

Sophie Bouly de Lesdain

In France, as in other countries, the idea of installing rooftop photovoltaic (PV) panels in private homes is based on an incentive scheme (tax advantages, feed-in…

Abstract

Purpose

In France, as in other countries, the idea of installing rooftop photovoltaic (PV) panels in private homes is based on an incentive scheme (tax advantages, feed-in tariffs, etc.) inspired by neoclassical economic theory. In the case of electricity producers in Reunion Island, unlike economists, we argue that producers’ calculations involve decision-making criteria which go further than any simple evaluation of economic costs and benefits.

Methodology/approach

Our approach is based on concepts of economic anthropology and on observations and semi-structured interviews conducted in the homes of the producers.

Findings

This ethnographic method allowed us to examine economic rationalities which revealed the anticipation of an energy landscape that will be subject to issues relating to the environment, access to electricity, evolution in the local electricity market, and household budget management. In this context, producers’ representations of solar power and of processes for commoditizing and decommoditizing the electricity produced (sold on the network/“free” when consumed) make compatible preservation of the environment and social norms of consumption.

Implications

This paper focuses on PV energy producers (who have been the object of very little research) and thus provides input for existing reflection on the diversity of economic rationalities. Such insight is important for understanding how people respond to policy appeals for PV panels. Anthropology therefore has an important role to play in the debate on energy transition. This conclusion paves the way for similar research in other contexts (of a non-insular nature in particular) which would allow for a promising comparative anthropological approach.

Details

Climate Change, Culture, and Economics: Anthropological Investigations
Type: Book
ISBN: 978-1-78560-361-7

Keywords

Article
Publication date: 18 August 2022

Olufemi Gbenga Onatunji

The current wave of decreasing electricity supply to meet the immediate demand of the populace is influencing not only economic growth but also the industrial productivity…

Abstract

Purpose

The current wave of decreasing electricity supply to meet the immediate demand of the populace is influencing not only economic growth but also the industrial productivity of the ECOWAS sub-region. In this context, this paper investigates the long-run and causal relationships between electricity consumption and industrial output in selected ECOWAS countries over the period 1971–2017.

Design/methodology/approach

The Autoregressive Distributed Lag (ARDL) bound testing approach is employed to determine the existence of relationships among the variables. The causal nexus between electricity consumption and industrial output is examined using both the Toda-Yamamoto causality test and the bootstrap-corrected causality technique.

Findings

The long run results indicated that increasing electricity supply enhances industrial output only in Benin, Cote d'Ivoire, Gambia, Guinea, Liberia, Nigeria, Senegal, and Sierra Leone. Furthermore, the causality test results confirmed the presence of all four hypotheses in this study, but the two causality tests agree, particularly in the evidence of growth and neutrality hypotheses. In the cases of Benin, Burkina Faso, Gambia, Ghana, Nigeria, and Sierra Leone, a unilateral causality running from electricity consumption to industrial output is found. However, no evidence of causality between electricity consumption and industrial production has been confirmed in Cote d'Ivoire, Guinea Bissau, Liberia and Niger.

Practical implications

The relevant energy stakeholders in the subregion need to reprioritize their policy framework to focus more on the electricity sector of their economies since electricity consumption is identified as an important driver of industrial growth in the West African countries.

Originality/value

This is the first study to provide a comparative and country-specific investigation of the nexus between electricity consumption and industrial output in Africa, particularly in the West African region.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

Book part
Publication date: 1 May 2012

Kevin Jones

Midwest Independent Transmission System Operator, Inc. (MISO) is a nonprofit regional transmission organization (RTO) that oversees electricity production and transmission…

Abstract

Midwest Independent Transmission System Operator, Inc. (MISO) is a nonprofit regional transmission organization (RTO) that oversees electricity production and transmission across 13 states and 1 Canadian province. MISO also operates an electronic exchange for buying and selling electricity for each of its five regional hubs.

MISO oversees two types of markets. The forward market, which is referred to as the day-ahead (DA) market, allows market participants to place demand bids and supply offers on electricity to be delivered at a specified hour the following day. The equilibrium price, known as the locational marginal price (LMP), is determined by MISO after receiving sale offers and purchase bids from market participants. MISO also coordinates a spot market, which is known as the real-time (RT) market. Traders in the RT market must submit bids and offers by 30minutes prior to the hour for which the trade will be executed. After receiving purchase and sale offers for a given hour in the RT market, MISO then determines the LMP for that particular hour.

The existence of the DA and RT markets allows producers and retailers to hedge against the large fluctuations that are common in electricity prices. Hedge ratios on the MISO exchange are estimated using various techniques. No hedge ratio technique examined consistently outperforms the unhedged portfolio in terms of variance reduction. Consequently, none of the hedge ratio methods in this study meet the general interpretation of FASB guidelines for a highly effective hedge.

Details

Research in Finance
Type: Book
ISBN: 978-1-78052-752-9

Book part
Publication date: 7 August 2019

Andreas Folkers

The chapter analyses the role of smart grid technology in the German energy transition. Information technologies promise to help integrate volatile renewable energies…

Abstract

The chapter analyses the role of smart grid technology in the German energy transition. Information technologies promise to help integrate volatile renewable energies (wind and solar power) into the grid. Yet, the promise of intelligent infrastructures does not only extend to technological infrastructures, but also to market infrastructures. Smart grid technologies underpin and foster the design of a “smart” electricity market, where dispersed energy prosumers can adapt, in real time, to fluctuating price signals that register changes in electricity generation. This could neutralize fluctuations resulting from the increased share of renewables. To critically “think” the promise of smart infrastructure, it is not enough to just focus on digital devices. Rather, it becomes necessary to scrutinize economic assumptions about the “intelligence” of markets and the technopolitics of electricity market design. This chapter will first show the historical trajectory of the technopolitical promise of renewable energy as not only a more sustainable, but also a more democratic alternative to fossil and nuclear power, by looking at the affinities between market liberal and ecological critiques of centralized fossil and nuclear based energy systems. It will then elucidate the co-construction of smart grids and smart markets in the governmental plans for an “electricity market 2.0.” Finally, the chapter will show how smart grid and smart metering technology fosters new forms of economic agency like the domo oeconomicus. Such an economic formatting of smart grid technology, however, forecloses other ecologically prudent and politically progressive ways of constructing and engaging with intelligent infrastructures.

Open Access
Article
Publication date: 1 September 2022

Yu Chen, Di Jin and Changyi Zhao

Global climate change is a serious threat to the survival and development of mankind. Reducing carbon emissions and achieving carbon neutrality are the keys to reducing…

Abstract

Purpose

Global climate change is a serious threat to the survival and development of mankind. Reducing carbon emissions and achieving carbon neutrality are the keys to reducing greenhouse gas emissions and promoting sustainable human development. For many countries, taking China as an example, the electric power sector is the main contributor to the country’s carbon emissions, as well as a key sector for reducing carbon emissions and achieving carbon neutrality. The low-carbon transition of the power sector is of great significance to the long-term low-carbon development of the economy. Therefore, on the one hand, it is necessary to improve the energy supply structure on the supply side and increase the proportion of new energy in the total power supply. On the other hand, it is necessary to improve energy utilization efficiency on the demand side and control the total primary energy consumption by improving energy efficiency, which is the most direct and effective way to reduce emissions. Improving the utilization efficiency of electric energy and realizing the low-carbon transition of the electric power industry requires synergies between the government and the market. The purpose of this study is to investigate the individual and synergistic effects of China’s low-carbon policy and the opening of urban high-speed railways (HSRs) on the urban electricity consumption efficiency, measured as electricity consumption per unit of gross domestic product (GDP).

Design/methodology/approach

This study uses a panel of 289 Chinese prefecture-level cities from the years 1999–2019 as the sample and uses the time-varying difference-in-difference method to test the relationship between HSR, low-carbon pilot cities and urban electricity consumption efficiency. In addition, the instrumental variable method is adopted to make a robustness check.

Findings

Empirical results show that the low-carbon pilot policy and the HSR operation in cities would reduce the energy consumption per unit of GDP, and synergies occur in both HSR operated and low-carbon pilot cities.

Research limitations/implications

This study has limitations that would provide possible starting points for future studies. The first limitation is the choice of the proxy variable of government and market factors. The second limitation is that the existing data is only about whether the high-speed rail is opened or not and whether it is a low-carbon pilot city, and there is no more informative data to combine the two aspects.

Practical implications

The findings of this study can inform policymakers and regulators about the effects of low-carbon pilot city policies. In addition, the government should consider market-level factors in addition to policy factors. Only by combining various influencing factors can the efficient use of energy be more effectively achieved so as to achieve the goal of carbon neutrality.

Social implications

From the social perspective, the findings indicate that improving energy utilization is dependent on the joint efforts of the government and market.

Originality/value

The study provides quantitative evidence to assess the synergic effect between government and the market in the low-carbon transition of the electric power industry. Particularly, to the best of the authors’ knowledge, it is the first to comprehend the role of the city low-carbon pilot policy and the construction of HSR in improving electricity efficiency.

Details

International Journal of Climate Change Strategies and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1756-8692

Keywords

Book part
Publication date: 30 June 2004

Paul S Ciccantell

Creating a continental energy market, including an interconnected electricity industry, was a central motivation for the U.S. government in the negotiation of the CUSFTA…

Abstract

Creating a continental energy market, including an interconnected electricity industry, was a central motivation for the U.S. government in the negotiation of the CUSFTA and NAFTA. Free trade agreements and regulatory changes in North America have fundamentally altered the characteristics of the electricity industry and the strategies of its constituent firms over the past decade. Markets are replacing extensive regulation in many states, many new firms have entered the industry, long term stability and predictability of returns to firms and of electricity prices have been replaced with the uncertainties of competition, and blackouts in California have become global headline news. In this period of rapid transition in the electricity industry, firms, states and consumers confront both new opportunities and new problems that were unimaginable a decade ago. The essential role of electricity in all economic activity makes this industry a critical component of the North American economy, but the future of the industry is far from clear.

This paper discusses the material characteristics of the electricity industry and outlines the provisions of the CUSFTA and NAFTA and regulatory changes that affected the electricity industry over the past decade. The paper then examines the evolution of the continental electricity industry, with particular emphasis on the efforts to create competitive markets. The paper then analyzes the strategies of particular firms to respond to and take advantage of these processes. The conclusion analyzes the policy implications of these processes and firm strategies.

Details

North American Economic and Financial Integration
Type: Book
ISBN: 978-0-76231-094-4

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