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Books > Business & Economics > Industry & industrial studies > Energy industries & utilities
The challenges facing participants in competitive electricity markets are staggering: high price volatility introduces significant financial risk into an industry accustomed to guaranteed rates of return, while illiquid forward markets prevent effective hedging strategies from being implemented. Valuation, Hedging and Speculation in Competitive Electricity Markets: A Fundamental Approach, examines the unique properties which separate electricity from other traded commodities, including the lack of economical storage, and the impact of a scarce transmission network. The authors trace the sources of uncertainties in the price of electricity to underlying physical and economic processes, and incorporate these into a bid-based model for electricity spot and forward prices. They also illustrate how insufficient market data can be circumvented by using a combination of price and load data in the marking- to-market process. The model is applied to three classes of problems central to the operation of any electric utility or power marketer; valuing generation assets, formulating dynamic hedging strategies for load serving obligations, and pricing transmission contracts and locational spread options. Emphasis is placed on the difference between trades which can be 'booked out' in the forward markets, and those which must be carried through to delivery. Lately, significant attention has been given to the role of regulators in mitigating excessive price levels in electricity markets. The authors conduct a quantitative analysis of the long-term effects of regulatory intervention through the use of price caps. By modeling the dynamic interplay between the observed price levels and the decision toinvest in new generation assets, it is shown how such short term fixes can lead to long term deficits in the available generation capacity, and ultimately to market failures and blackouts.
This guidebook for managers and other decision makers analyses all important aspects that have to be considered when evaluating photovoltaics as a potential option in the power-supply industry and industrial development. Since such an analysis is quite complex and requires know-how from several scientific disciplines, the book draws upon the expertise of about 40 invited experts. Consensus statements on some of the controversial items such as cost development or energy pay-back time are given. In addition, the book is rounded out by an evaluation of the technological status of photovoltaics. The Photovoltaics Guidebook for Decision Makers enables readers to form their own opinions, particularly on the realistic potential and role of photovoltaics in energy policy, the power-supply industry and industrial development.
This book covers execution of mega industrial projects especially in oil and gas industries covering engineering, procurement, construction, commissioning and performance testing. It enumerates various tasks and deliverables under each discipline and sub-disciplines to define the detailed scope of work, supplies and services, as per level III of Prima Vera Schedule developed from the contract-based schedule. It gives an overall idea of how a project rolls out from commencement date to initial acceptance and executed practically with total contractor's scope of work broken down into tasks/activities at level III platform, while highlighting that support for fool proof project execution.
Ever since the publication in 1997 the original Scour Manual has helped many practising hydraulic engineers to deal with scour processes near hydraulic structures. In recent years new insights, such as probabilistic calculations, offered new opportunities to design structures more economically. These new insights are included in this update of the original Scour Manual, which is focussing entirely on current-related scour. This manual provides the engineer with useful practical methods to calculate the dimensions of scour holes in the pre-feasibility and preliminary stages of a project, and gives an introduction to the most relevant literature. This updated Scour Manual contains guidelines that can be used to solve problems related to scour in engineering practice and also reflects the main results of all research projects in the Netherlands in recent decades. The so-called Breusers equilibrium method has a central role, which can basically be applied to all situations where local scour is expected. The method allows to predict the scour depth as a function of time, provided that the available knowledge about scour at the specific structure is sufficient. For structures with insufficient knowledge available, alternative scour prediction rules are presented. The treatment of local scour is classified according to the different types of structures. Each type of structure is necessarily schematised to a simple, basic layout. The main parameters of a structure and the main parts of the flow pattern near a structure are described briefly insofar they are relevant to the description of scour phenomena. New scour formulas for the equilibrium scour have been elucidated. Evaluating a balance of forces for a control volume, it is possible to develop scour equations for different types of flow fields and structures, i.e. jets, abutments and bridge piers. As many scour problems are still not fully understood, attention is paid to the validity ranges and limitations of the formulas, as well as to the accuracy of the scour predictions. This information can also be used to carry out a risk assessment using a safety philosophy based on a probabilistic analysis or an approach with a safety factor. Moreover, the information on the strength of soils is extended and aspects are addressed such as scour due to shear failures or flow slides, that can progressively damage the bed protection which might lead to the failure of hydraulic structures. This updated Scour Manual presents scour prediction methods and deals with practically related scour problems. Consultants and contractors were invited to provide case studies of realized projects, including the methods that were followed. These case studies will help with grasping the concept of scour by the flow of water. This manual provides the engineer with the latest knowledge and with case studies that show how to apply the formulas and their limitations.
Dielectric Spectroscopy in Biodiesel Production and Characterization presents the application of dielectric techniques in the production process of biodiesel, and in the characterization of biofuels, raw materials and effluents. In this comprehensive text, the reader will find information about biodiesel, production processes and biofuel characterization, including a description of dielectric techniques that are a useful alternative to - and have some important advantages over - international standards. Dielectric Spectroscopy in Biodiesel Production and Characterization is written in a language that is easy for both specialists and non-specialists to understand. It provides the concepts and tools needed for the application and correlation of the results of dielectric measurement with those from other techniques that are included in international standards. Aimed at a broad audience, the book gives a unified presentation, in a clear and concise way, of up-to-date information that has been gathered from a wide range of sources. Based on the ample research and teaching experience of the authors, Dielectric Spectroscopy in Biodiesel Production and Characterization will be of interest to professionals working in the liquid biofuels industry, researchers entering the field and also advanced university students on related courses.
Fully updated and expanded into two volumes, the new edition of Groundwater Contamination explains in a comprehensive way the sources for groundwater contamination, the regulations governing it, and the technologies for abating it. Volume 1 covers all major contaminants and explains the hydrology and data used to determine the extent of pollution. Volume 2 discusses aquifer management, including technologies to control and stabilize multiple influxes into the water table. This volume outlines strategies for stormwater control and groundwater restoration. A number of case histories on site analysis and remediation based on DOE and state documents are included. Among the many new features of this edition are a full discussion of risk assessment, the preparation of groundwater protection plans, and references linking the text to over 2,300 water-related Web sites.
This timely research review explores the main issues surrounding competition and regulation in electricity markets. The industry is experiencing irresistible forces for change driven by energy policy objectives; a reassessment of market regulation in the face of high energy prices and the response to consumer pressure to agree on what constitutes a fair price for energy. This research review identifies the key articles that underpin the debate across the industries supply chain (generation, supply and networks) and from a regulatory perspective (including market power and incentive regulation) followed by a consideration of the overall impact of liberalisation and future developments.
On the surface the new president seems to inherit an empty house," Hugh Heclo, a recognized expert on American democratic institutions, has noted. "In fact, he enters an office already shaped and crowded by other people's desires." Empowering the White House examines how Richard Nixon entered that crowded Oval Office in 1969 yet managed to change it in a way that augmented the power of the presidency and continues to influence into the twenty-first century how his successors have governed. Nixon's White House is perhaps best remembered for the growth in the size of the staff, which operated under the supposed iron fist of H. R. Haldeman. But more important than size and management style to the character of the Nixon White House were the assigned tasks, complexity, and dynamics of the burgeoning staff. Faced with hostile majorities in Congress and executive branch careerists assumed to be committed to a Democratic agenda, Nixon sought to control his political fate by engaging more actively than earlier presidents in public relations and the mobilization of support. At the command and under the control of the Oval Office, the staff carried out assignments designed to fulfill Nixon's aims. This theoretically informed and well-researched study explains how Nixon changed and expanded the institutionalized presidency and how that affected the Ford and Carter administrations. Nixon ushered in a new stage in the modern presidency by organizing and using his increasingly complex staff in new ways that have persisted beyond the 1970s to this day. To a greater degree than any predecessor, Nixon systematized outreach, legal advice, and policy formulation. His White House staffing, then, has come to be regarded as a "standard model" that influences incoming presidents regardless of party affiliation. Leavening this organizational study are revealing accounts of how the Nixon, Ford, and Carter staffs operated behind the scenes in the West Wing. Anyone needing to know how the White House worked during those presidencies--or how it has worked since--will find this book invaluable.
This book addresses a complex issue - water sustainability - that requires a combined approach to manage both water and energy. It highlights several technologies that have been introduced to study the water-energy linkage. It also discusses the need to develop effective laws for water management. In turn, the book assesses hybrid biological systems and demonstrates why they are better for the wastewater treatment process. Lastly, it reviews wastewater quality requirements, which have been the primary driver of industrial wastewater treatment programs in India. Gathering selected, high-quality research papers presented at the IconSWM 2018 conference, the book offers a valuable asset, not only for researchers and academics, but also for industrial practitioners and policymakers.
The book"Regional Approaches to the Energy Transition", discusses the key challenges the energy transition is facing at the European and International level. It is an edited collection gathering contributions from the experts in the field bringing together internationally renowned scholars, researchers, EU officials to address the current trends in the energy transition and its dilemmas. The book places the energy transition in a wide interdisciplinary context. It looks at energy policies, legal framework, regional strategies and the difficulties in their implementation. It argues for a regional approach to the energy transition, questioning at the same time the strategies and measures put forward for its realisation. The subject matter is topical, considering recent themes that occupy global and European political agendas. In a nutshell, the volume offers insights into regional regulations, public policies and local practices on the use of clean energy. It looks first at the EU commitment and its initiatives providing some examples from the Member States. Furthermore, it offers a comparative perspective and discusses the different approaches to the energy transition from Latin America, China, Africa and Australia. It covers a wide range of topics such as the EU renewable energy policies, Green Deal and regionalisation, energy auctions in the EU, environment in contemporary constitutionalism, Human Rights considerations, the Scandinavian perspective, practical examples from Italy and Spain. Moreover, it also considers the global context, looking at State and Market in China's coal-to-gas transition, tendencies of legal regulation in the sphere of renewable energy in Russia, the energy transition in Latin-American countries, regional approach to the energy transition and electricity access initiatives in Sub-Saharan Africa, and transnationalism and the regional approach to the energy transition in Australia. The systematisation that this book offers and the exchange of good practices and experiences are useful tools for the key players to seriously engage with a just and sustainable energy transition. The proposed book is a reference and study material for academics and students, but also for the policy makers, officials and practitioners dealing with the energy transition. It provides some answers, potential solutions and alternatives to the main problems that the energy sector is facing worldwide.
This book is available either individually, or as part of the specially-priced Arguments of the Philosphers Collection.
Energy efficiency and energy conservation are often thought to be the same. They are not, according to Herbert Inhaber. Only when less total energy is consumed by all users will energy actually be saved. Energy efficiency schemes do not accomplish this goal of conservation: when one person or nation conserves energy, there is just more of it for others to use elsewhere. This is the first book to answer, comprehensively and objectively, the question: Do government energy conservation programs hinder or help the nation? Says Inhaber, the fact that billions of dollars have been spent on energy conservation programs, without giving a searching look at what has been accomplished, is a national scandal. Clear, concise, and with numerous useful graphs and tables, this book is an important first step toward making us all aware of what energy conservation actually is-and is not-and how it can and should be implemented. This work includes chapters on how conservation is applied in the electric utility world, whether waste truly exists, the economic aspect of conservation, its relation to Marxism, and past examples of conservation failures. Inhaber reviews many of the points that were first made by Stanley Jevons, the father of modern quantitative economics, who stated more than 130 years ago that increased efficiency often produces greater overall energy use, not less. Inhaber concludes that a remedy claimed to cure all ills will cure none. The faith placed in conservation as a solution to a mountain of problems is, in large part, misplaced. The words 'energy conservation' have captivated people of almost all political and philosophical persuasions. My book should cause many people to rethink their blind faith.
In the centennial year of the birth of Sir John Cockcroft, first master of my Cam bridge College, Churchill, and the first man to split the atomic nucleus by artificial means, it is indeed relevant to consider the outcome of his efforts at developing atomic power. From the earliest days of the construction of Calder Hall-the first nuclear power station in Britain-and the establishment of the British Atomic Re search Center at Harwell, and the Chalk River Nuclear Station in Canada, through the "Windscale" nuclear accident in Britain, up to the present, when some 20% of UK energy is derived from nuclear power, the Cockcroft legacy is felt. As the British historian Mark Goldie put it, in the "pure and sanguine 1950s," Cockcroft had almost absolute "faith in 'peaceful atoms' and in the boundless, almost cost free, energy that atoms would soon produce" (Goldie, 1997, p. 21). But, as the eminent economist Frank Hahn recalled, "the only failing Cockcroft had" was "that he wasn't up to much in economics. " Indeed, Hahn recalled that he "had to explain" to Cockcroft "the economic notion of optimum durability" as it related to the "interest rate" in the context of building Churchill College with "hand-made bricks. " After his explana tion, as Hahn recalled "Cockcroft smiled and proceeded to order more hand-made bricks" (Hahn, 1997, p. 27)."
The Political Economy of Venezuelan Oil describes the historic role of multinationals in establishing the oil industry there and the resulting coordination of an integrated, nationalized industry. Randall posits that the nationalization of the Venezuelan oil industry was strikingly different from that in Brazil and Mexico. Besides giving a detailed description of the structure and management of this industry, she also provides a history of labor conditions and an analysis of the impact of the oil industry on Venezuela's overall economy.
Over the next few years, political and financial power will move in the direction of individuals, companies and nations that are able to use energy in a more efficient way. This book describes this challenge and presents a way forward by which we may achieve the goal of increased energy efficiency in the different areas that need to change.
This book argues that law has a vital role in shaping the electricity system to enable a more active role for consumers in liberalizsed electricity industries. To do that, this book offers a unique legal perspective of the Netherlands, New Zealand and Colombia to help understand some of the current legal approaches to prosumers and therefore the legal challenges and opportunities facing. Law and regulation have the role of creating a level playing field for emerging participants, such as prosumers, to participate and compete in the market together with traditional actors, bringing not only more competition but also representing a more sustainable, environmental and democratic way to supply energy. Furthermore, law and regulation have the role of responding to innovation and creating space for technological advances to procure the changes in the industry without delay. This book examines some of the legal barriers for the raise of energy prosumers. The traditional role of the distributor when responding to increasing distributed generation in the network; prosumers unable to decide to whom they can sell their electricity to; the price of the energy or even whether to participate more actively in demand response programs. A further issue is the lack of clarity about whether small prosumers are entitled to consumer protection rights and legal challenges regarding configuration, access to the network, access to markets and strict unbundling rules for community energy projects. This book provides a clear, analytical, and informed approach to understanding the regulatory framework around energy prosumers. It will appeal to policy makers, lawyers, individuals, business entrepreneurs or communities wanting to engage in energy projects, as well as academics, researchers and students
This book comprises select proceedings of the international conference ETAEERE 2020, and focuses on contemporary issues in energy management and energy efficiency in the context of power systems. The contents cover modeling, simulation and optimization based studies on topics like medium voltage BTB system, cost optimization of a ring frame unit in textile industry, rectenna for RF energy harvesting, ecology and energy dimension in infrastructural designs, study of AGC in two area hydro thermal power system, energy-efficient and reliable depth-based routing protocol for underwater wireless sensor network, and power line communication. This book can be beneficial for students, researchers as well as industry professionals.
This book provides an alternative approach to analyzing Western Europe's much-debated dependence on Russian natural gas. The actual and potential consequences of this dependence have in recent years become a growing concern both in individual importing countries and at the level of the European Union. Russian gas exports have come to decisively influence EU-Russia relations and there is nowadays hardly any aspect of these relations that can be discussed without, directly or indirectly, taking into account natural gas. But despite the central importance of Russian natural gas exports in present-day European and Russian affairs, little attention has been paid to the political and economic decisions that - starting in the late 1960s - paved the way for large-scale imports of Russian gas. Applying a systems and risk perspective on international energy relations, author Per Hogselius investigates how and why governments, businesses, engineers and other actors sought to promote - and oppose- the establishment of an extensive East-West natural gas regime that seemed to overthrow the fundamental logic of the Cold War.
This textbook provides an introduction to energy analysis for those students who want to specialise in this challenging field. In comparison to other textbooks, this book provides a balanced treatment of complete energy systems, covering the demand side, the supply side, and the energy markets that connect these. The emphasis is very much on presenting a range of tools and methodologies that will help students find their way in analysing real world problems in energy systems. This new edition has been updated throughout and contains additional content on energy transitions and improvements in the treatment of several energy systems analysis approaches. Featuring learning objectives, further readings and practical exercises in each chapter, Introduction to Energy Analysis will be essential reading for upper-level undergraduate and postgraduate students with a background in the natural sciences and engineering. This book may also be useful for professionals dealing with energy issues, as a first introduction into the field.
This book is a compilation of the papers presented at the Twenty-Eighth Mid-Atlantic Industrial and Hazardous Waste Conference. It aims to provide a forum for those who are interested in the advancement and applications of technologies and methods for managing industrial and hazardous waste.
There is a growing recognition amongst those involved with the creation and distribution of nuclear power of the value and positive impact of ergonomics, recognition heightened by the realization that safety incidents are rarely the result of purely technical failure. This work provides insights into plant design, performance shaping factors, the fostering of a safety culture, training, selection, alarm design, team performance and data collection. |
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