
Ruud Egging-Bratseth- PhD
- Professor (Full) at Norwegian University of Science and Technology
Ruud Egging-Bratseth
- PhD
- Professor (Full) at Norwegian University of Science and Technology
About
59
Publications
17,331
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2,135
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Introduction
Professor, Managerial Economics, NTNU, Trondheim; adjunct professor, Business and Management Science, NHH, Bergen. Affiliations with SINTEF, Trondheim, the German Institute for Economic Research (DIW Berlin), and Environmental Defense Fund. Associate editor Elsevier Energy Strategy Reviews. Teaches courses in microeconomics, supply chains, finance, energy, operations research, project team work. Research in (Renewable) Energy markets and infrastructure; Decision making under uncertainty;
Current institution
Additional affiliations
September 2016 - present
Position
- PostDoc Position
January 2011 - July 2012
Publications
Publications (59)
The electricity landscape is constantly evolving, with intermittent and distributed electricity supply causing increased variability and uncertainty. The growth in electric vehicles, and electrification on the demand side, further intensifies this issue. Managing the increasing volatility and uncertainty is of critical importance to secure and mini...
The electricity landscape is constantly evolving, with intermittent and distributed electricity supply causing increased variability and uncertainty. The growth in electric vehicles, and electrification on the demand side, further intensifies this issue. Managing the increasing volatility and uncertainty is of critical importance to secure and mini...
Batteries are crucial to manage the rising share of intermittent energy sources and variability in demand. Most technoeconomic models in the literature oversimplify battery degradation representation. Accounting properly for battery degradation allows for better cost tradeoffs and optimal battery usage, especially in dynamic settings. We propose a...
p>Batteries are crucial to manage the rising share of intermittent energy sources and variability in demand. ost techno-economic models in the literature oversimplify battery degradation representation. Accounting properly for battery degradation allows for better cost tradeoffs and optimal battery usage, especially in dynamic settings. We propose...
p>Batteries are crucial to manage the rising share of intermittent energy sources and variability in demand. ost techno-economic models in the literature oversimplify battery degradation representation. Accounting properly for battery degradation allows for better cost tradeoffs and optimal battery usage, especially in dynamic settings. We propose...
State-of-the-art, open access numerical modeling of imperfectly competitive energy markets offers a sound and transparent way to address topical research questions in energy and commodity markets. We use an open access equilibrium model, the Global Gas Model (GGM), and sector-specific, politically motivated scenarios to investigate the prospects fo...
District heating is an under-researched part of the energy system, notwithstanding its enormous potential to contribute to Greenhouse Gas emission reductions. Low-temperature district heating is a key technology for energy-efficient urban heat supply as it supports an efficient utilization of low-grade waste-heat and renewable heat sources. The low...
We describe the elements and actors in the global natural gas value chains with an emphasis on characteristics relevant for large-scale energy system and market modeling. We give backgrounds on natural gas as a hydrocarbon to provide a rationale and understanding for what functional representations in mathematical programming models aim to represen...
The energy transition faces the challenge of increasing levels of decentralised renewable energy injection into an infrastructure originally laid out for centralised, dispatchable power generation. Due to limited transmission capacity and flexibility, large amounts of renewable electricity are curtailed. In this paper, we assess how Power-to-Gas fa...
The approach of choice to analyze markets with oligopolistic competition has traditionally been complementarity modeling. In this paper we show that the majority of partial equilibrium models under imperfect competition in the (energy-)economic literature can in fact be cast as optimization models, not requiring the derivation and implementation of...
In this paper, we focus on the development of European gas infrastructure in the energy transition with particular focus on the so-called Projects of Common Interest (PCIs). To this end, three models with different spatial-temporal resolutions and information structures have analyzed the European natural gas infrastructure developments over the per...
The interaction between the transmission and distribution system operators is mainly based on a unidirectional flow of information (transmission-to-distribution system operators). The resources in the distribution systems are, hence, not utilized fully in overall power system operations, regardless that they may serve as sources of flexibility to m...
Previous studies of regional wage formation in Norway have indicated low regional wage responses to regional unemployment. However, previous analyses have not investigated whether wages are more rigid in rural areas than in urban areas, which in the case of Norway is important for the efficiency of regional differentiated payroll taxes. In the pape...
In the energy strategy of the European Union, the end-user is envisioned as a key participant in the future electricity market. Current market designs and business models lack incentives and opportunities for regular electricity consumers (e.g. residential buildings) to become prosumers and actively participate in the market. Incentives should incl...
Point data observations are often used to calibrate computable general equilibrium (CGE) models; however, results may be impacted by calibration of an Armington trade specification in a regional CGE (R-CGE) model. This paper calibrates an Armington trade specification with three differently estimated interregional trade data sets. It estimates inte...
• Analysis of end-user benefits in smart grids with peer-to-peer trade and battery storage.
• Proposal of two market designs in the presence of two storage location strategies.
• Implementation of a linear optimisation model for a community in London, UK.
• End-user potential savings of 31% due to peer-to-peer trade and private storage.
• Novel...
The ongoing restructuring of power systems towards a renewable-based electricity system has prompted the discussion of assessing new electricity market designs. The integration of end-users not only as consumers but also as producers of electricity-prosumers-poses an alternative to the classical market structure. This paper investigates how individ...
The EU has high ambitions for its clean energy transition. Reducing yearly CO2 emissions by 80% until 2050 requires large-scale implementation of renewable energy technologies and likely a large-scale electrification of non-energy sectors such as transportation. A major challenge imposed by renewable energy supply is the uncontrollable and intermit...
Stochastic optimization approaches ignore that the decisions of different actors in markets typically do not lead to a system-wide optimal solution. Suppliers in markets with entrance barriers or other aspects that hinder competition, can use their dominant positions to exert market power and drive up market prices. To represent such gaming behavio...
This paper presents a natural gas market equilibrium model that considers uncertainty in shale gas reserve exploration. Risk aversion is modeled using a risk measure known as the Average Value-at-Risk (also referred to as the Conditional Value-at-Risk). In the context of the European natural gas market, we show how risk aversion affects investment...
In this paper, we analyse infrastructure needs of the European natural gas market in response to decarbonisation of the European energy system. To this end, we use numerical modelling and apply the Global Gas Model. We investigate three pathways of future natural gas consumption: i) a decreasing natural gas consumption, following the scenarios of t...
We present an analysis of the optimal development of natural gas infrastructure in Europe based on the scenario studies of Holz and von Hirschhausen (2013). We use a stochastic mixed integer quadratic model to analyze the impact of uncertainty about future natural gas consumption in Europe on optimal investments in pipelines. Our data is based on r...
Recent supply security concerns in Europe have revived interest into the natural gas market. We investigate infrastructure investment and trade in an imperfect market structure for various possible risks for both supply and demand. We focus on three possible scenarios in a stochastic global gas market model: (i) transit of Russian gas via Ukraine t...
We investigate the hydropower scheduling problem, in which a price-taking producer determines a reservoir management strategy that maximises the present value of revenues from selling the produced electricity in a well-functioning market. Uncertainty is present both in market prices and in reservoir inflows. To solve the problem, we apply linear de...
Natural gas plays an important role in the global energy system as an input to power generation, heating, and industry. This
article identifies key drivers and uncertainties for natural gas markets in the coming decades. These include the availability
of natural gas from conventional and unconventional sources, the role of international trade, and...
Recent supply security concerns in Europe have revived interest into the natural gas market. Here, we investigate investment behavior and trade in an imperfect market structure under uncertainty in both supply and demand. We focus on three uncertain events: i) transit of Russian gas via Ukraine that may be disrupted from 2020 on; ii) natural gas in...
Linear decision rules is a method for solving multistage stochastic linear programming problems. In this article we consider the feasibility of applying it to the hydropower scheduling problem. In our case, the price-taking producer determines a long-term reservoir management strategy that maximizes the market value of revenues from selling the ele...
Assessing and quantifying the impacts of technological, economic, and policy shifts in the global energy system require large-scale numerical models. We propose a dynamic multi-fuel market equilibrium model that combines endogenous fuel substitution within demand sectors and in power generation, detailed infrastructure capacity constraints and inve...
Assessing and quantifying the impacts of technological, economic, and policy shifts in the global energy system requirelarge-scale numerical models. We propose a dynamic multi-fuel market equilibrium model that combines endogenous fuel substitution within demand sectors and in power generation, detailed infrastructure capacity constraints and inves...
Buildings are responsible for almost 40% of energy consumption and CO2 emissions in the EU (EC, 2010). Improving the energy efficiency of buildings is a vital step towards achieving the EU climate and energy objectives. Directive 2010/31/EU outlines measures specifically focused on the energy performance of buildings. Incentives are created for bui...
This paper presents and implements a Benders Decomposition type of algorithm for large-scale, stochastic multi-period mixed complementarity problems. The algorithm is applied to various multi-stage natural gas market models accounting for market power exertion by traders. Due to the non-optimization nature of the natural gas market problem, a strai...
In this paper, we use the Global Gas Model to analyze the perspectives and infrastructure needs of the European natural gas market until 2050. Three pathways of natural gas consumption in a future low-carbon energy system in Europe are envisaged: i) a decreasing natural gas consumption, along the results of the PRIMES model for the EMF decarbonizat...
We present an energy market equilibrium model that captures climate aspects, infrastructure constraints, fuel substitution, and market power ala Cournot in a single framework. The model represents the supply and transportation infrastructure, fuel transformation, power generation, and several demand sectors of fossil fuels, renewables and nuclear e...
Natural gas is increasingly important as a fuel for electric power generation as well as other uses due to its environmental advantage over other fossil fuels. Using the World Gas Model, a large-scale energy equilibrium system based on a complementarity formulation, this paper analyzes possible future gas cartels and their effects on gas markets in...
We discuss potential developments of the world natural gas industry through 2030. We use the World Gas Model (WGM), a multi-period strategic representation of the global natural gas sector, between 2005 and 2030. We specify a 'base case' and then analyse the sensitivity of the world natural gas system with scenarios, including various supply scenar...
We provide the description, mathematical formulation and illustrative results of the World Gas Model, a multi-period complementarity model for the global natural gas market with explicit consideration of market power in the upstream market. Market players include producers, traders, pipeline and storage operators, LNG (liquefied natural gas) liquef...
This dissertation develops deterministic and stochastic multi-period mixed complementarity problems (MCP) for the global natural gas market, as well as solution approaches for large-scale stochastic MCP. The deterministic model is unique in the combination of the level of detail of the actors in the natural gas markets and the transport options, th...
In this paper, we discuss potential developments of the world natural gas industry at the horizon of 2030. We use the World Gas Model (WGM), a dynamic, strategic representation of world natural gas production, trade, and consumption between 2005 and 2030. We specify a "base case" which defines the business-as-usual assumptions based on forecasts of...
In this paper, we analyze market equilibrium models with random aspects that lead to stochastic complementarity problems. While the models presented depict energy markets, the results are believed to be applicable to more general stochastic complementarity problems. The contribution is the development of new heuristic, scenario reduction approaches...
We provide the description and illustrative results of the World Gas Model, a multi-period complementarity model for the global natural gas market. Market players include producers, traders, pipeline and storage operators, LNG liquefiers and regasifiers as well as marketers. The model data set contains more than 80 countries and regions and covers...
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 sec...
This paper presents results of simulating a more collusive behavior of a group of natural gas producing and exporting countries, sometimes called GASPEC. We use the World Gas Model, a dynamic, strategic representation of world gas production, trade, and consumption between 2005 and 2030. In particular, we simulate a closer cooperation of the GASPEC...
In this paper, we develop a mixed complementarity equilibrium model for the European natural gas market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfect...
Wetenschappelijke Assessment en Beleidsanalyse (WAB) WAB is een subprogramma van het Netherlands Research Programme on Climate Change (NRP-CC). Het doel van dit subprogramma is: • Het bijeenbrengen en evalueren van relevante wetenschappelijke informatie ten behoeve van beleids-ontwikkeling en besluitvorming op het terrein van klimaatverandering; •...
In this paper we analyze the consequences of an LNG Import Terminal Ban for the US Pacific Coast along with potential developments of the world natu ral gas market until 2030. We use the World Gas Model (WGM), a dynamic, strategic representation of world natural gas production, trade, and consumption between 2005 and 2030. In particular, we present...
In this paper we provide a discussion of potential developments of the world natural gas industry at the horizon of 2030. We use the World Gas Model (WGM), a dynamic, strategic representation of world natural gas production, trade, and consumption between 2005 and 2030. In particular, we specify a "base case" which defines the business-as-usual ass...
Questions
Question (1)
Full details:
Spence, M. (1976). The implicit maximization of a function in monopolistically competitive markets. Discussion Paper No. 461, Harvard Institute of Economic Research, Cambridge, MA.