The European Commission currently revises its regulation of selection of and support to so-called Trans-European Networks in the energy sector (TEN-E). Currently, the European Union still provides support to fossil natural gas infrastructure that were selected as so-called Projects of Common Interest (PCI) without sufficiently taking into account the long-term climate targets. In the research project ...
This paper studies the impact of financial investments on agricultural futures prices, using structural vector autoregressions. We identify exogenous variation in net long positions of speculators through heteroskedasticity. We first show that demand shocks of both index investors and noncommercial traders lead to a statistically significant contemporaneous increase in futures prices. We then quantify ...
Coal consumption and production have sharply declined in recent years in the U.S., despite political support. Reasons are mostly unfavorable economic conditions for coal, including competition from natural gas and renewables in the power sector, as well as an aging coal- fired power plant fleet. The U.S. Energy Information Administration as well as most models of North American energy markets depict ...
The phase-out of fossil fuels, and a growing use of variable renewable energy sources, increase the flexibility needs of the power sector. In this context, different energy storage technologies become more relevant. Yet the role and use of electricity storage depends on many factors, for example technology costs and availabilities, as well as the level and flexibility of sector coupling strategies...
Poland is the largest hard coal and second largest lignite producer in the EU, generating around 80 percent of its electricity from coal. Resistance to a reduction in coal production and consumption comes from various actors, namely, coal corporations, unions, parts of civil society and the government – as well as their coalitions. Their opposition centres around the prospect of losing their business, ...
Natural gas could play an increasing role in the German energy system following the coal exit decided in July 2020 by the German parliament. However, natural gas has no climate benefit compared to coal. What is more, Europe risks to become a battle-ground for the conflict between Russia and the United States. The construction of the Baltic Sea pipeline Nordstream 2 has set in motion a downward spiral ...
Climate-related asset stranding refers to the depreciation of assets – such as resource reserves, infrastructure, or industries – resulting from the unanticipated changes, such as the tightening of climate policies. Although developing countries – especially fossil-fuel exporters – may be most concerned by this issue, its analysis in development (economics) has so far been limited.We aim at enhancing ...
The coronavirus pandemic has affected the Gulf countries in a particular way. In addition to the direct consequences of the pandemic, the spread of the coronavirus has led to a collapse in demand for the Gulf countries’ most important source of revenue: oil. Its price, which had fallen initially due to the price war between Saudi Arabia and Russia, collapsed in spring 2020. Although it recovered somewhat ...
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