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Refereed essays Web of Science
This paper presents the first comparative analysis of the relationship between natural gas storage utilization and price patterns at three major European trading points. Using two indirect tests developed by (Fama and French, 1987) and (Fama and French, 1988) that are applied in other commodity markets, we impose the no arbitrage condition to model the efficiency of the natural gas market. The results ...
In:
Energy Policy
37 (2009), 12, S. 5432-5439
| Marcus Stronzik, Margarethe Rammerstorfer, Anne Neumann
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Refereed essays Web of Science
Carbon capture and storage (CCS) promises to allow for low-emissions fossil-fuel-based power generation. The technology is under development; a number of technological, economic, environmental and safety issues remain to be solved. CCS may prolong the prevailing coal-to-electricity regime and countervail efforts in other mitigation categories. Given the need to continue using fossil-fuels for some ...
In:
Energy Policy
37 (2009), 12, S. 5081-5093
| Barbara Praetorius, Katja Schumacher
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Diskussionspapiere 1067 / 2010
Coal continues to be an important fuel in many countries' energy mix and, despite the climate change concerns, it is likely to maintain this position for the next decades. In this paper a numerical model is developed to investigate the evolution of the international market for steam coal, the coal type used for electricity generation. The main focus is on future trade ows and investments in production ...
2010| Clemens Haftendorn, Franziska Holz, Christian von Hirschhausen
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Diskussionspapiere 939 / 2009
The aim of this work is to evaluate the impact of domestic and global biofuel policies on Germany's agricultural sector. The central part of our study is divided into four sections. Section 2 presents in detail the issues that make biofuels a debated topic in today's economic policies. Fundamental aspects of our energy consumption patterns and the geographic location of our natural resources are highlighted ...
2009| Giovanni Sorda, Martin Banse, Claudia Kemfert
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Refereed essays Web of Science
In this paper, we present a detailed and comprehensive complementarity model for computing market equilibrium values in the European natural gas system. Market players include producers and their marketing arms which we call "traders", pipeline and storage operators, marketers, LNG liquefiers, regasifiers, tankers, and three end-use consumption sectors. The economic behavior of producers, traders, ...
In:
Energy Policy
36 (2008), 7, S. 2385-2414
| Ruud Egging, Steven A. Gabriel, Franziska Holz, Jifang Zhuang
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Diskussionspapiere 821 / 2008
We analyze the relation between European natural gas storage facilities and price patterns at major trading points, considering the theory of storage to derive a testable hypothesis imposed by the non-arbitrage condition. To model the efficiency of the natural gas market, we apply two indirect tests absent the scarcity of European inventory data. We find that operators of storage facilities realize ...
2008| Marcus Stronzik, Margarethe Rammerstorfer, Anne Neumann
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Diskussionspapiere 820 / 2008
In a carbon constrained world, at least four classes of greenhouse gas mitigation options are available: Energy efficiency, fuel switching, introduction of carbon dioxide capture and storage along with renewable generating technologies, and reductions in emissions of non-CO2 greenhouse gases. The role of energy technologies is considered crucial in climate change mitigation. In particular, carbon capture ...
2008| Barbara Praetorius, Katja Schumacher
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Nicht-referierte Aufsätze
In:
Zeitschrift für Energiewirtschaft
(2008), 3, S. 171-176
| Georg Meran, Christian von Hirschhausen
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Refereed essays Web of Science
This paper discusses long-term contracts as a particular organizational form situated somewhere between full vertical integration and short-term, market-based trading in the natural gas industry. We focus on the determinants of the duration of contracts under changing technical, economic, and institutional conditions. Using 311 long-term contracts we find that duration decreases as international market ...
In:
Review of Industrial Organization
32 (2008), 2, S. 131-143
| Christian von Hirschhausen, Anne Neumann
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Refereed essays Web of Science
This paper presents a model of the European natural gas supply, GASMOD, which is structured as a two-stage-game of successive natural gas exports to Europe (upstream market) and wholesale trade within Europe (downstream market) and which explicitly includes infrastructure capacities. We compare three possible market scenarios: Cournot competition in both markets, perfect competition in both markets, ...
In:
Energy Economics
30 (2008), 3, S. 766-788
| Franziska Holz, Christian von Hirschhausen, Claudia Kemfert