Empfehlungen für das Auktionsdesign für Emissionsberechtigungen

From an economic perspective, auctions are an appropriate mechanism for the initial allocation of emissions allowances, because they tend to be advantageous with respect to distributional and efficiency goals. Different auction designs can lead to different outcomes, though, and so the choice of the auction rules is a critical challenge. Recent developments in auction theory and rich experiences with practical auction design in the energy and many other sectors can help avoiding mistakes and designing an appropriate auction mechanism. This study summarizes the relevant research and concludes with concrete recommendations for the auction design for CO₂ allowances. In particular, it analyzes how the strategic options of buyers and sellers depend on the auction rules, and explains how secondary markets for allowances interact with bidding strategies and optimal institutional design.     

Markttransparenz im CO<Subscript>2</Subscript>-Emissionshandel und Risikomanagement von Stromerzeugern

This paper analyses the effects of recent regulatory measures, namely the Regulation on wholesale Energy Market Integrity and Transparency enacted by the European Parliament and the Market Transparency Authority Act, that aim to increase transparency in CO₂ emissions trading on an utility maximizing electricity producer. Taking the particular characteristics of electricity into account, we analyze optimal composition of power generation and optimal risk policy. Our results have implications for the regulation of electricity producers with regard goals concerning environmental policy and supply reliability.     

Die Trianel Kavernenspeicheranlage in Epe: Ein flexibles Instrument für die Vollversorgung kommunaler Gasversorgungsunternehmen

Fast and flexible storage capacity will become more important in a liberalised gas market. For this reason Trianel, together with other partners, has decided to build a gas cavern facility in Epe. The typical operation of a gas cavern is peak-shaving. In contrast this article shows the economic possibilities of the cavern to establish a full swing supply.     

Die Kosten des Klimaschutzes am Beispiel der Strompreise für private Haushalte

Power prices in Germany have been surging since the outset of the new millennium. Among the major reasons for this tendency are newly raised taxes and levies on electricity prices, whose introduction is primarily motivated by climate concerns. Without these taxes and levies, net electricity prices would have remained constant for private households. This article discusses these taxes and levies that have been responsible for the cost increases in private households’ electricity consumption. Most influential have been the feed-in tariffs for renewable energies, above all photovoltaics. According to our calculations, the levy for renewables will further increase in the up-coming years, thereby pushing consumers’ electricity cost once again. Our calculations also show that within the next couple of years, there will be a fierce competition among renewable energy technologies, most notably between photovoltaics and wind power. Politics would be well-advised, therefore, to limit the annual capacity of newly installed solar modules in order to avoid both the explosion of consumers’ electricity bills and strong competition among renewables.     

Lessons to Learn? Rückblick auf 10 Jahre „Schiefergasrevolution“ in den USA und Bestandsaufnahme für Europa

A decade ago, the “shale gas revolution” started in the United States. An increased natural gas production turned the U.S. from a highly import depending gas economy to an exporter of gas. This supply increase led to decreasing gas prices, which were followed by decreasing electricity prices. In contrast to Europe, this price development was the driver for an increased industrial production in the U.S.. This development was enabled by technical progress, namely the advanced usage of hydraulic fracturing, the so-called “fracking”. However, this gas production method could cause significant environmental impacts, such as ground water pollution or earthquakes. Most European governments are driven by environmental concerns, so that it is rather unlikely that a similar “shale gas revolution” will occur in Europe.     

Zahlungsbereitschaft für grünen Strom: Zunehmende Kluft zwischen Wunsch und Wirklichkeit

This paper presents evidence on preferences for green electricity, drawing on two stated-preference surveys conducted in 2013 and 2015 among 6000 households. It uncovers a strong contrast between the households – rising general acceptance of supporting renewable energy technologies and their shrinking individual willingness-to-pay for green electricity.     

Potential für Kraftwerke mit Kohlendioxidrückhaltung aus Systemperspektive

System considerations support a discussion of selected factors influencing the economic viability of power plants with CO₂ sequestration technology (CCS, for carbon dioxide capture and storage), leading to conclusions when and how much of their potential may conceivably be realised. The CCS realisation is interconnected to investments into other technologies, to technological advances, to the price of CO₂ emission certificates, to plant dispatch, and to the prices of power. In a system of CCS potential realisation by individual actors, these variables are endogenous. This article is mainly about them. CCS is more of a long term option than a bridge technology. In contrast to other CO₂ reduction technologies, both economic operation and economic investment necessarily require high CO₂ certificate prices. An increase in power plant efficiency without CCS, switching to natural gas and power generation from renewable sources involve more mature technologies that may benefit from further application within the coming decades. Even far beyond 2020 this effect may delay and dampen the potential of CCS technology. An economic or market potential is dependent to a lesser extent on assumptions about future barriers but rather on their dynamic interactions.     

Marktwirtschaftliche Energiewende: Ein Wettbewerbsrahmen für die Stromversorgung mit alternativen Technologien

If the German energy transition is to succeed, environmental soundness should not be the only criterion on the agenda with respect to the restructuring of the energy system. It is rather the security of electricity supply and likewise the social sustainability during the transformation process that has to be ensured. The primary question is how to fulfill this challenge in the light of the legal obligation of a complete nuclear power phase-out in the most cost-effective way. The looming avalanche of costs triggered by record-breaking highs of the expanding solar power systems, promoted under the German Renewable Energy Sources Act (EEG), should have made it clear that cost efficiency has only played a minor role so far. According to this study, (real) additional costs for all solar power systems, which had been installed between 2000 and the end of 2011 in Germany, sum up to about 100 billion Euros (prices as of 2011). Since these resources are withdrawn from other societal uses, it is essential that costs for the energy transition in general and in particular the consumers’ costs due to an increased share in renewable energies have to be minimized. For this reason, a new, more cost-efficient and market-oriented promotion/funding system is needed to replace the current system based on the EEG. As suggested by the Monopoly Commission (Monopolkommission 2011), the German Council of Economic Experts (SVR 2011) and recently by acatech, Germany’s National Academy of Science and Engineering (acatech 2012), a market-based promotion system with quantity control in the form of quotas for “green” energy would be a more efficient system. If from 2013 onwards, the future expansion of renewable energies would be fostered by a national quota-based system instead of the EEG, the expansion could be more cost-effective, according to calculations of this study. If, for example, the future price for green electricity certificates exclusively accelerated the expansion of on-shore wind power, the overall subsidies for those wind power capacities that may be installed between 2013 and 2020 merely amount to EUR 6.8 billion (current prices) instead of subsidies in the amount of nearly 58.8 billion Euro (current prices) in the case of further sticking to the EEG. This alone should give sufficient reason to replace the EEG as quickly as possible by a market-based support system such as the quota system.     

Kundenpräferenzen für leistungsrelevante Attribute von Stromprodukten

This article addresses whether standard electricity products in Switzerland meet the preferences of private customers. To determine customers’ preferred electricity product we conducted an online survey with choice experiments implying 9420 choice decisions by 628 respondents in Switzerland. Using hierarchical Bayes estimation we determined customer preferences and the importance of individual product attributes in product choice. This procedure makes it possible to calculate part worth utilities for product attributes and to derive customers’ implicit willingness to pay. The “electricity mix” had the most important influence on choice decisions, followed by “monthly electricity costs” and the “location of the electricity generation”. The current Swiss electricity mix which consists of mainly nuclear and hydro power was only rated second to last in a comparison of five alternative mixes. Customers clearly prefer electricity mixes containing green energy. Findings of this study reveal strategic options for product design, positioning, and marketing for a liberalized electricity market.     

Bereitstellung von Regelleistung durch Elektrofahrzeuge: Modellrechnungen für Deutschland im Jahr 2035

The German government has set ambitious goals for both the expansion of renewable energy supply and electromobility. According to its Energiewende policy, electricity supply from fluctuating renewables is supposed to further increase considerably. This will tend to require a greater provision of balancing reserves. At the same time, supply from conventional dispatchable plants, which used to provide the bulk of reserves, will decrease. Against this background, this article analyzes the scope for an assumed fleet of 4.4 million electric vehicles to supply balancing reserves in 2035. Examining two different future power plant scenarios, it explores the potentials of reserve provision with and without the option of feeding electricity from vehicle batteries back to the grid. Results from an extended open-source power system simulation model show that the assumed vehicle fleet can efficiently provide a substantial share of reserve requirements, also in case the vehicle-to-grid option is not available. Arbitrage on wholesale markets, on the other hand, is negligible under basic assumptions. Likewise, total system cost savings are minor when compared to a pure cost-optimal loading of vehicle batteries. Under alternative assumptions on the future power plant portfolio as well as on battery degradation costs, however, wholesale arbitrage, reserve provision, and system cost savings can be substantial.     

Green Project Bonds als finanzielle Alternative für Energieunternehmen

The reorientations of energy policy, and in particular the promotion of renewables, have changed the market conditions for energy companies significantly. Over recent years, the resulting challenges put the energy companies’ financial ratios under severe stress. As the need to invest remains urgent, energy firms seek to broaden and diversify their sources of funding. Against this backdrop, the article addresses an innovative form of securities-based debt financing for energy companies, which explicitly links the financing transaction to the investing of funds in renewable energy projects. Due to the early stage of development of so called green (project) bonds, an initial disambiguation is essential. Thereafter, current market processes, structures and rules are considered. Based hereupon, it is possible to discuss the new opportunities that green project bonds afford energy companies.     

Wärmecontracting in der deutschen Wohnungswirtschaft: Instrumente für eine angemessene Regulierung

German residential leases and their associated fringe costs such as heating are subject to strict regulations. The Tenancy law regulates, for instance, which components of the total costs of heating tenants have to bear and to what degree lessors can amortise the costs for modernizing the heating system. Unfortunately these regulations provide only low incentives for modernization, so that many heating systems in operation are technically obsolescent.Contracting describes a service contract, in which a Contractor plans, builds up and also operates a new heating system. This service-form has been successfully established in many other economic sectors so far. Despite the great micro- and macroeconomic advantages that Contracting offers over self-administered modernizing, it does not yet prevail in the German housing market. Thus, deregulation seems to be indispensable in this sector. However, the analysis in this article on the basis of the New Institutional Economics shows that an unrestricted opening of the market is not reasonable. In fact a suitable level of regulation must be found. Therefore, this article identifies several effective instruments from an economic point of view.     

Eine Bewertung verschiedener Kapazitätsmechanismen für den deutschen Strommarkt

This article examines the economic impacts of an implementation of different capacity mechanisms in the German market for electricity. We discuss selective mechanisms that address only newly installed capacity, as well as global mechanisms. Whenever appropriate, we give examples from international experience. We show that global mechanisms—contrary to selective mechanisms—can incentivize efficient investment decisions. However, due to the regulatory intensity of such mechanisms we advise not to take such measures unless a clear need is indicated.     

Flächendeckende Einführung von Smart Metern – Internationale Erfahrungen und Rückschlüsse für Deutschland

Various countries are introducing smart meters in different ways and with different pace. This article reviews the experiences of four European countries that have decided on a complete roll-out of smart meters or have (partly) realised it. In the first part we show theoretically what welfare effects result from different strategies. Afterwards we analyse how these countries have organized a complete roll-out. From this analysis we draw conclusions for the implementation of a full roll-out of smart meters in Germany and derive policy recommendations. It appears that liberalised markets per se do not seem to trigger a roll-out of smart meters. For Germany with its liberalised metering market this may allow the following conclusions: It should be defined clearly what objectives are to be reached by a roll-out. Particularly it should be analysed what costs and benefits are involved when it comes to a complete roll-out of smart meters and if there are potentially any information deficits on the side of energy consumers. On this basis a sound strategy is to be developed.     

Designing <Emphasis Type="Italic">interaction</Emphasis>: How do interaction design students address interaction?

Interaction design is usually described as being concerned with interactions with and through artifacts but independent of a specific implementation. Design work has been characterized as a conversation between the designer and the situation and this conversation poses a particular challenge for interaction design as interactions can be elusive and difficult to describe. Moreover, current trends in interaction design introduce physical materials to a higher degree resulting in even more complex design situations. There is a lack of knowledge about how interaction designers, and especially students, address the very phenomenon of interaction. This study contributes by describing how interaction design students attempt to address aspects of interaction and by presenting an in-depth analysis in the context of an interactionary-type design exercise. The quantitative and qualitative findings showed that (1) the design students brought up aspects of interactivity and dynamics through talk and gestures but (2) a comprehensive design idea about interaction did not guide the design work and they were to a little degree engaged in planning sequences of interactions or interaction on a longer time scale, (3) using physical materials disrupted interaction design, and, (4) there was a lack of continuity when addressing interaction compared to how proposals about artifacts were pursued. As interaction is the core of interaction design, the findings are discussed in terms of how the immaterial design materials may “talk back” to designers. Practical strategies for how the observed phenomena could be constructively addressed within interaction design education are suggested.