The stability of the demand for fossil fuels by electric utilities

The view that the regional demand for fossil fuels by electric utilities in the United States is characterized by stable relationships is subjected to an objective statistical test. The test utilizes a statistic which equals the ratio of the sum of squared residuals of one period prediction from the k + 1 period to the rth period to the sum of squared residuals of one period prediction from the k + 1 to the Tth period, where k is the number of estimated coefficients in the model and T is the sample size. The results suggest for the period 1973 through 1978, that the fossil fuel demand functions in Region II and Region VIII and the coal demand function in Region X became unstable around 1977. For the other regions, the results indicate no appreciable (statistically significant) change in the relative importance of the underlying determinants of the demand for fossil fuels.     

Rate of return regulation and the Le Chatelier principle

This paper examines whether rate-of return regulation alters the input quantities firms use to produce their selected output level when the corresponding input prices change, in a manner similar to the Le Chatelier principle. More specifically, would the change in a rate regulated firm’s input quantity due to a change in its input price be less price elastic than the unregulated firm’s change in the input quantity due to a change in its input price. We follow Färe and Logan (1986), Nelson and Wohar (1983) in estimating a rate regulated cost function and capital input share system of equations. Using a 1992–2000 panel of 34 US major investor-owned electric utilities, empirical results indicate that the regulated own-input price elasticities of demand for labor and fuel are less price elastic than their corresponding unregulated own-input price elasticities of demand (a Le Chatelier principle type effect). Having a fuel clause (1) reduces the firm’s willingness to substitute from fuel to either non-fuel (capital, labor) input when the price of fuel rises, and (2) enhances the firm’s willingness to substitute from non-fuel inputs to fuel when the price of non-fuel inputs rises.     

An investment planning model for the electricity sector in Nigeria

In this study the methodology of mixed integer programming is used to deal with investment resource allocation problems that involve economies of scale in the Nigerial economic planning environment. The specific application is to long-term investment decisions in the government-operated electric power supply industry (NEPA). The investment planning problem involves determining the optimal generating plant/transmission mix from among a set of fossil fuel and conventional hydro plants which will meet the demand for electricity in Nigeria over the next three decades at minimum cost. Economies of scale in plant construction makes the investment cost function to be non-linear. However the non-linearity is approximated by a fixed charge function. Alternative price assumptions are made about locally found fuel resources (oil, gas, coal and liguite) to calculate the energy cost of fossil fuel plants. Different investment strategies are then evaluated in terms of the present values of the cost of supplying electricity to meet the required demand.     

台湾经济及石油产品供需情况

台湾人口密度大,资源贫乏,受产业结构变化及世界经济不景气的影响,台湾对石油产品的需求在减少,因而剩余部分用于出口,而中国大陆随着经济的发展,对石油产品的需求在增加,所以了解台湾的经济及石油产业、石油供需情况、车用燃料质量等情况具有一定的意义。     

我国燃料油现货市场的状况

主要针对我国燃料油现货市场进行研究,从燃料油的生产情况,进出口情况以及市场消费与需求情况详细进行分析,最终总结了我国燃料油现货市场的特征及存在的问题。     

The impact of firm membership in an Independent System Operator (ISO) on production cost and cost efficiency in the generation sector of the U.S. electric utility industry

This paper examines how ISO membership impacts cost efficiency. Utilities joining ISOs can face more competition in selling electric power, possibly leading to lower profits, which can incentivize utilities to operate more cost efficiently to maintain a specified level of profits. The empirical model involves estimating a Probit model, then OLS regression, then a stochastic cost frontier. Using a 1992 to 2000 panel of 34 investor‐owned electric utilities, empirical results indicate that ISO membership contributed to higher production cost, lower cost efficiency, and ISO members subject to the 1990 Clean Air Act Amendments operated more cost efficiently than ISO members not subject to the Amendments.     

燃油加油机实际检测中存在的问题及对策探究

随着时代的发展,我国综合实力与社会经济水平的提高,带动着我国汽车行业的快速发展,大量汽车与人们日常生活的融合,极大地提高了人们的日常生活水平,并在另一方面提高了对相关燃油的需求。为了保障燃油质量,同时满足油品市场的需求,相关人员需要加强燃油加油机检测水平的提高,同时借助现代化检测技术与设备,降低检测过程中的问题出现概率,并对已出现的问题进行合理解决,对燃油质量及消费者自身经济效益进行保障,进而促进相关领域的进步与发展。论文将主要对燃油加油机实际检测中存在的问题及解决对策进行深入研究。     

非粮材料制备燃料乙醇的研究进展

我国原油消费量位居世界第二,对于石油的进口依存度相当高。扩大对燃料乙醇的需求是缓解石油短缺的一个重要方式。以下针对非粮材料制备燃料乙醇,在研究进展方面进行了分析。     

Relative Performance of U.S. and Japanese Electricity Distribution: An Application of Stochastic Frontier Analysis

This paper estimates and compares the technical efficiency of the U.S. and Japanese electric utilities during the period 1982–1997 using a stochastic frontier analysis. Our focus is on electricity distribution services of major investor-owned utilities. We employ translog input distance functions to represent the technology of electricity distribution. Empirical results show that after controlling for environmental variables, on average, the Japanese electric utilities are more efficient. It is shown, however, that some U.S. utilities are as efficient as the most efficient Japanese utilities, indicating that the estimated frontier is not necessarily dominated by Japanese utilities.An erratum to this article can be found at     

Impact of Carbon Dioxide Emissions Reduction on the Austrian Economy

A linked econometric input–output (IO) model of the Austrian economy with an energy block is used in this study to assess the sectoral effects of carbon dioxide emissions reduction. The energy block and the other commodities are linked by a partitioned IO model. Energy demand is described using aggregate energy demand equations, by activities and subdemand systems of the translog type for different fuel types. The conversion of energy is modelled using an IO model of the energy sector. Measures for carbon dioxide reduction from detailed expert studies are introduced in the energy model and in the econometric model. The primary impacts are on energy demand, fuel shares and investment in new energy technologies. The simulation results of the partitioned IO model show different impacts on gross output, GDP and employment.     

Using the fuzzy set theory to developing an environmental impact assessment index for a thermal power plant

Korean thermal power has had a prominent position in energy policies for the past decades. However, pollutants from the combustion of fossil fuels used in converting thermal energy into electrical energy have undesirable effect on the environment. This paper applies fuzzy set theory (FST) to identifying the significance of various environmental impacts using a specific case study of the electric power utilities in Korea. To this end, we consider nine environmental impacts: mortality, morbidity, forest, agricultural production, materials, visibility, thermal discharge water, landscape, and global warming. A survey of randomly sampled 1,000 households was administrated to obtain value judgments from FST about the environmental impacts of a thermal power plant. The overall results show that global warming is the most important attribute in environmental effect-related decision-making processes and followed by morbidity and mortality in order. The implications of the results for electric power utilities are also discussed. We found that the work and results can provide valuable insights for major decision making in energy and environmental planning of the electric power utilities.     

A Comparison of Pay‐As‐Bid and Market‐Clearing Price Bidding Processes in Electric Utility Auctions

As the electric utility industry moves to Regional Transmission Organizations, there are more opportunities for merchant plants in selling wholesale energy to electric utilities. Two alternative bidding regimes are considered: (i) pay‐as‐bid and (ii) pay with market‐clearing bid. With stochastic price‐sensitive demand, we show that pay‐as‐bid has greater average price, but lower price variance than does market‐clearing price. Copyright © 2013 John Wiley & Sons, Ltd.     

A new political economy of oil

Oil carries external costs which increase with depletion. In conventional visions for the next 20 years, oil supply will exceed demand in the premium market for transport fuel; competition between producers will drive capacity expansion (though with a risk of investment cycles); and natural gas will limit growth in oil demand and price. The politics of the climate, of transport, and of power supply, now rank with OPEC as key political factors affecting oil. Energy security has become more important to exporters than importers. Producers are threatened by the possibility that economically available oil will be left in the ground.     

Resource allocation in the nationalized energy sector of the United Kingdom

Resource allocation in the energy sector of the United Kingdom is a difficult area to plan, because demand and supply projections need to embrace both the large private sector oil industry and the public sector fuel industries. In addition, relationships between the latter are complex as they involve both competition and co-ordination. One approach to the problem has been to find common ground in the concept of marginal cost pricing, but there are practical difficulties in application. Government has encouraged the use of analytical techniques, such as corporate planning, by the fuel industries as a means of co-ordination in areas where market mechanisms may no longer always be effective.     

Speculation in the Oil Market

The run‐up in oil prices since 2004 coincided with growing investment in commodity markets and increased price co‐movement among different commodities. We assess whether speculation in the oil market played a role in driving this salient empirical pattern. We identify oil shocks from a large dataset using a dynamic factor model. This method is motivated by the fact that a small‐scale vector autoregression is not informationally sufficient to identify the shocks. The main results are as follows. (i) While global demand shocks account for the largest share of oil price fluctuations, speculative shocks are the second most important driver. (ii) The increase in oil prices over the last decade is mainly driven by the strength of global demand. However, speculation played a significant role in the oil price increase between 2004 and 2008 and its subsequent collapse. (iii) The co‐movement between oil prices and the prices of other commodities is mainly explained by global demand shocks. Our results support the view that the recent oil price increase is mainly driven by the strength of global demand but that the financialization process of commodity markets also played a role. Copyright © 2014 John Wiley & Sons, Ltd.     

Appraising world energy prospects

The authors begin by outlining a multi-scenario technique for coping with future uncertainty in assessments of the business environment for energy planning. The discussion then leads to a quantification of world energy demand under two exploratory scenarios, whose results are compared with published forecasts. Analysis of the components of demand highlights the importance of the Third World. After a review of the world's fossil fuel resources, the likely effective availability of oil and other energy sources (including nuclear power and the renewables) is set against the scenario levels of energy demand. The paper ends with a summary of the implications for action in the field of energy.     

Determining optimal fuel delivery strategies under uncertainty

During the preparation before a hurricane makes landfall, affected individuals may be asked to evacuate. Large and small-scale evacuations can cause rapid increases in the demand for gasoline fuel. However, during a hurricane vessels carrying gas may be delayed and/or rerouted, adding to the difficulty of providing the necessary gas in affected areas. In this work, we determine alternate delivery locations and times for vessels carrying fuel that are scheduled to arrive and deliver fuel at ports impacted by an approaching hurricane. Motivated by Hurricane Irma in Florida, we develop a multi-period stochastic scheduling model that incorporates hurricane (weather) advisories, fuel delivery schedules, port storage capacities, and port docking capacities. Our model determines the best schedule based on two objectives: (1) minimize the total unmet demand at each port, and (2) minimize inequities in unmet demands among the ports. We also present a case study and a numerical experiment based on fuel delivery data from ports in Florida. Among our key findings is that port availability is the driving factor in determining feasible schedules for vessel gas deliveries. We also present a scheduling heuristic that dynamically adapts to weather advisories so as to minimize the impact of unmet demand in the affected areas.     

Multiobjective programming with related bargaining games An application to utility coal conversions

A method is developed using n-person game theory together with multiple objective programming and is applied to aid-regional decisions on utility coal conversions. Converting oil fired electric utilities to coal is seen as being of great strategic importance. There are, however, many impediments to utility coal conversions including costs and environmental restrictions. The method developed is used to find workable solutions to this problem which are evaluated based upon measures of economic efficiency, environmental degradation and distributive equity. Using these methods, policy makers, planners and administrators can determine solutions that will aid in the resolution of regional conflicts.     

Analysis of electric distribution utilities efficiency levels by stochastic frontier in Brazilian power sector

The regulatory power sector model in several countries determines tariff review forms based, among other things, on sharing efficiency gains with consumers. As these reviews have an important impact on consumers and distribution utilities, it is necessary that the adopted methodologies always be improved. To this end, this article assessed a Bayesian inference application in order to estimate a stochastic cost frontier considering temporal efficiency dynamics. Taking this point into consideration is essential, since studies carried out to assess power sector efficiency have neglected the fact that part of efficiency increases originate from scale gain due to market expansion, which occurs over time. The sample assessed herein is composed of panel data from 61 electric power utilities between 2003 and 2016. The results demonstrate that the tariff review is positively affected by distributor efficiency.     

成品油二次配送需求预测模型研究

通过分析中石化某分公司实际配送情况,总结出石油成品油二次配送需求的特点。并在此基础上建立成品油的需求预测模型,预测加油站下一日的配送需求量以及运力和配车需求量。为成品油的销售实现主动配送提供了模型研究基础。