Energy Market - Science topic

Multilateral benefits for actors in the power system and energy market integration of electric vehicles (EVs) are crucial for a sustainable electrification of the transport sector. The overarching goal of this integration is to meet the EV energy demand at low cost for end users, while maximizing the use of renewable energy for charging. In liberal...

The unpredictable nature of renewable energy creates uncertainty and imbalances in energy systems. Incorporating energy storage systems into energy and power applications is a promising approach to provide economic, technical, and environmental benefits to these energy systems. Among different energy storage options, compressed air energy storage (...

The book highlights how technologies including artificial intelligence and machine learning are transforming renewable energy technologies and enabling the development of new solutions. It further discusses how smart technologies are employed to optimize energy production and storage, enhance energy efficiency, and improve the overall sustainabilit...

Endowed with huge energy resources, Africa is a major player in the global energy markets. Although much attention has been given to the exploitation of fossils and uranium for electrification and global industrialization processes, energy security remains a predominant and contemporary phenomenon, especially in rural Sub-Saharan Africa. With the h...

In recent years, the global energy market is undergoing an unprecedented transition from traditional fossil fuels to clean energy. At present, China is actively promoting the optimization and upgrading of its energy structure, people will vigorously develop renewable energy sources such as wind power and solar energy. With the increasing number of...

In energy markets, joint historical and implied calibration is of paramount importance for practitioners yet notoriously challenging due to the need to align historical correlations of futures contracts with implied volatility smiles from the option market. We address this crucial problem with a parsimonious multiplicative multi-factor Heath-Jarrow...

With the global energy transition and the rapid development of renewable energy, power systems are facing unprecedented challenges. As an innovative solution integrating and coordinating distributed energy resources, the virtual power plant (VPP) has gained increasing importance in the energy market, emerging as a highly regarded field in recent ye...

This working paper rigorously examines the multifaceted interdependence between global supply chain dynamics, energy markets, and socioeconomic fragmentation, with a focus on their projected implications for inflation, food security, and housing in 2025. Anchored in the analytical frameworks of international law, economics, and psychology, the...

The volatility of global energy markets, particularly electricity prices, plays a crucial role in influencing international economic activities. In the era of big data, machine learning has revolutionized the field of cancer research, particularly in analyzing gene expression data. This study explores the application of machine learning models to t...

Variable renewable energy (VRE) droughts are periods of low renewable electricity production due to natural variability in the weather and climate. These compound renewable energy droughts occur when two or more (typically wind and solar) generation sources are in low availability conditions at the same time. Compound wind and solar droughts are mo...

The Indian utility sector is undergoing a transformation in ownership structure, driven by global energy market shifts, technological advancements, evolving government policies, and changing consumer demands. The present study examines the impact of ownership structure on the technical efficiency (TE) of state-owned and private utility firms in Ind...

Global piracy incidents have posed security risks and caused significant losses in maritime transportation. Understanding their distribution pattern and spatial evolution is crucial in economic geography, geopolitics, and transportation economics. This study employs time series change detection and spatial feature analysis to analyze global piracy...

In isolated microgrids, distributed energy resources (DERs) such as small-scale generators, energy storage systems, and flexible loads operate independently from the main grid. The challenge is to optimize these resources to minimize user costs while ensuring microgrid stability and efficiency. This paper presents an optimization framework for DERs...

Energy is often described as the lifeblood of a nation’s economy, and the world energy trilemma calls for collaboration and innovative solutions at the national level. This is where Education for Sustainable Development (ESD) plays a crucial role, helping integrate the achievement of the United Nations Sustainable Development Goals (SDGs) while add...

The growing electricity demand in Indonesia has led PT State Electricity Company (Perusahaan Listruk Negara/PLN), specifically PLN UID Lampung, to enhance power upgrade services for efficiency and customer-focused solutions. However, electricity sales growth at PLN UID Lampung remains below the national average, hindered by generalized marketing st...

The development of China’s National Carbon Market has strengthened the inherent link between the carbon market and the broader energy market, providing a potential for cross-market risk transmission resonance. Studying the risk spillover effects between China’s National Carbon Market and the crude oil futures market is of significant practical impo...

This paper presents a customized local energy trading approach using a comprehensive set of performance indices (i.e. Community Savings, Self-Consumption, Self-Sufficiency, Fairness Index, Individual Household Savings) for evaluation of the trading practices. The simulations performed on historical data sets compared dispatch mechanisms based on Mi...

A future sustainable energy system is expected to be digital, de-central, decarbonized, and democratized. As the transition unfolds, new and diverse actors of various sizes will emerge in different segments. Thereby, the future energy system could shift its attention to the actors’ behavior than finding an optimum based on the physical system. Agen...

Renewable energy (RE) and blockchain technology have emerged as two key drivers of the global transition to a sustainable and decentralized energy system. RE sources such as solar, wind, and hydropower offer a clean and abundant alternative to fossil fuels, but the intermittent nature of these sources can pose challenges to grid stability and relia...

Energy materials have great demand in the global energy market today. Renewable sources of energy materials are sustainable sources of energy materials that have many advantages over traditional materials. Metal-based solar cells are first-generation materials that are commercialised due to their high efficiency. However, the high cost of these mat...

Governments and policymakers have discussed energy security due to the instability of the global energy market and the risks greenhouse gas (GHG) emissions cause to the environment. Renewable energy generation and consumption reduce carbon dioxide (CO 2) emissions most effectively. Thus, this paper highlights factors that, if aggressive environment...

This paper presents an adaptive high-performance optimization tool for the real-time operation of Renewable-based Virtual Power Plants (RVPPs). The increasing integration of Renewable Energy Sources (RESs) into power systems introduces challenges due to their intermittent nature. Aggregating RES units into RVPPs creates a more controllable and comp...

Employing panel regression models on a sample of U.S. energy firms, we document novel evidence suggesting that energy security risk significantly influences firms’ market valuation, albeit this effect is attributed largely to small- and medium-sized firms. It is also apparent that political connection mitigates the value erosion of firms with large...

The current research paper examines the adaptation of the rooftop solar system in Gujarat and mainly pays attention to its opportunities and challenges. The main focus of this paper is to create an enabling environment that encourages investment, promotes awareness, and ensures the long-term sustainability of rooftop solar initiatives. Despite havi...

Recently, the European Union has adopted the “Climate and Energy Packet” (Directives 2009/28/EC, 2009/29/EC, 2009/31/EC) and the “Third Energy Packet” (Directives 2009/72/EC, 2009/72/EC, 2009/92/EC), aimed to create a whole competitive energy market, based on both the principle of perfect competition and that of high environmental sustainability. T...

The factor of energy has played more and more important part in the international economic and geo-political relations in the era of globalization. In the face of growing demand for energy and various risks and threats it has produced, seeking security through cooperation is an inevitable choice for the international community to safeguard world en...

This study presents a distributed electricity trading system using smart contracts to improve transaction efficiency and reduce costs in power markets. Three trading models are analyzed: centralized trading, blockchain-based decentralized trading, and smart contract-driven automated trading. The advantages and challenges of each model are examined,...

Whilst some regional energy markets appear to be integrating, modelling the pricing of natural gas exports in an imperfect global spot market remains a difficult task. For the sake of analysis, this paper proposes the expansion of a theoretical global party to party spot gas price bargaining model to capture lagged daily prices of the major competi...

Os setores da economia associados com a oferta de energia (eletricidade, petróleo, gás, carvão, etc.) são tão essenciais para o bem-estar social que no passado a exploração desses serviços era monopólio de empresas estatais. Tal reserva de mercado oferecia ao governo pleno controle sobre a gestão desses recursos para atingir a finalidade de atender...

In the global economic system, fluctuations in crude oil prices have a profound impact on investor confidence and international economic development. Due to the complexity and multi-scale nature of the crude oil market, forecasting its fluctuations presents a significant challenge. Addressing this issue, this paper proposes an innovative decision-m...

The China carbon market is a market-oriented designation for addressing climate issues. Price mechanism is the core of carbon market, studying on the price formation can promote the emission reduction targets. This paper conducts an autoregressive adjusted Markov model to divide the carbon price state, and designs a multiple regression model to tes...

In the early 1990’s, the concept of “Business Process Reengineering” (BPR) was first introduced by Michael Hammer and James Champy. Nowadays, many projects aiming a better management focus on better processes, as obtained by reengineering the existing ones, using different techniques. This paper approaches this aspect of the management processes re...

Myanmar is among the least electrified countries in the world. Prospects are examined to assess the opportunity for a paradigm shift to deliver rapid relief from electricity poverty and change the trajectory of national development. Expansion of electricity supply is currently planned around the model of large power plants and a national grid. Expe...

Global warming presents both profound challenges and strategic opportunities for the Russian Federation, particularly in its vast Arctic and permafrost regions. This article explores the multifaceted impacts of permafrost thawing, examining its environmental, economic, and geopolitical dimensions. On the one hand, thawing permafrost accelerates gre...

The motivation for this theoretical paper is to “shed further light” on electricity market liberalisation. The major influences on electricity prices in each country are local supply and demand conditions, which include costs of renewables and/or regulatory effects on pricing. This also includes effects of public or private monopoly pricing. Howeve...

The paper presents main barriers of creating a competitive energy market in Poland. Polish energy and gas sector in space of few recent years underwent breakthrough changes as far as regulations, structure, organisation and ownership are concerned. Drivers of change included the necessity to align national regulations with EU standards through tran...

This paper presents an integrated robotic trading strategy developed for the day-ahead energy market that includes different methods for time series analysis and forecasting, such as Detrended Fluctuation Analysis (DFA), Rescaled Range Analysis (R/S analysis), fractional derivatives, Long Short-Term Memory (LSTM) Networks, and Seasonal Autoregressi...

A new type of power system with a high proportion of renewable energy sources (RES) penetration has become a global development trend. Meanwhile, the marketization reforms of the electricity market pose challenges to traditional energy. A multi-energy model including a wind turbine (WT), photovoltaic (PV) energy, energy storage (ES), and a thermal...

The introduction of "carbon peak" and "carbon neutrality" targets and the vigorous advancement of national energy market construction, renewable energy sources like wind and solar power are experiencing rapid development. However, this also brings challenges in accounting for uncertainties in various operational scheduling and optimization control...

The commercial production of biodiesel in Brazil began in 2005 and increased in such a way that the country has become one of the largest producers in terms of volume in 2012. This study aims to analyze the biodiesel market in Brazil and its socio-economic effects resulting from the mandatory addition of biodiesel in the distribution system of mine...

This article examines the phenomenon of price volatility in China's new-energy vehicle market and separately analyses the causes and possible consequences in terms of technological innovation and government policies. The Chinese government's policies to promote new energy vehicles, such as subsidies and rapid technological modernisation, have led t...

In the recent years, Bosnia and Herzegovina, like the rest of the world, has been investing intensively in the sector of renewable energy sources and in projects for the construction of power plants with renewable energy sources. In order for the construction of renewable energy power plants to proceed smoothly, it is necessary to have stable legis...

Until the early 90's of the last century a vertically integrated monopoly structure was the main model of the organization of the power industry in most countries of the world. The quality of services and prices for electricity were regulated in different countries exclusively by the state authorities. However, it gradually became apparent that man...

The dependence structure between 756 prices for futures on crude oil and natural gas traded on NYMEX is analyzed using a combination of novel time-series and copula tools. We model the log-returns on each commodity individually by Generalized Autoregressive Score models and account for dependence between them by fitting various copulas to correspon...

In recent years, the new energy vehicle industry has experienced rapid growth, becoming a major market player. This development is highly driven by increased awareness of environmental issues and the advancement of policies and regulations aimed at promoting sustainable transportation. As a result, more consumers and manufacturers are focusing on e...

This paper has two objectives. First, we apply the symmetric and asymmetric VAR(1)-BEKK-MGARCH(1.1), VAR(1)-CCC-MGARCH(1,1), VAR(1)-DCC-MGARCH, VAR(1)-VARMA-CCC-MGARCH and VAR(1)- VARMA-DCC-MGARCH models to explore the return and volatility interactions among electricity and other fuel price markets(oil, natural gas, and coal). Second, this paper i...

Along with environmental deterioration and scarce of traditional energy sources, clean and renewable energies are becoming more and more important. As the second largest clean energy source, wind energy account for a big proportion of renewable energy. However, current wind energy production is not enough for us to promote energy transition. Tradit...

The world crude oil prices have dropped dramatically, and consequently the oil market has become very volatile and risky in the last several years. Since energy markets play very important roles in the international economy and have led several global economic crises, risk management of energy products prices becomes very important for both academi...

The Integrated Resource Plan (IRP) 2019 outlines South Africa’s goal of achieving a diverse and sustainable energy mix. To achieve this, innovative methods must be found to integrate renewable energy sources while preserving grid stability. Virtual Power Plants (VPPs), which combine dispersed energy resources like solar photovoltaic (PV), wind, and...

The relationship between energy commodity prices and inflation has important implications for fiscal policy and economic stability. The nature of energy commodities is multi-dimensional, serving both as basic raw materials in production processes and as critical consumer goods. This study focuses on estimating the impact of oil, natural gas and coa...

A scientific assessment of the sensitivity of the Chinese coal market has become an important research topic. This paper combines Gaussian Process Regression (GPR) and Sobol sensitivity analysis to construct a GPR–Sobol hybrid model innovatively applied to the Chinese coal market, thus addressing a gap in the economic applications of this method. T...

This study is based on the stock returns of 11 subindustry markets in the international clean energy market from 2010 to 2024 and constructs a skewed t distribution dynamic factor copula model. The time-varying load factor is used to characterize the correlation between a single subindustry market and the entire system, and the joint probability of...

This paper proposes tokenising generators' revenue streams as a novel financial instrument for electricity market risk management. The core idea is that tokenised revenue streams (RevToks) holders can directly claim a portion of a generator's energy market revenues. The novelty lies in exploring a tranched structure, creating a tiered hierarchy of...

This study explores hydrocarbon dependency in Algeria, focusing on oil price fluctuations' impact on public finance and fiscal policies from 2000 to 2022. Despite efforts to diversify revenue sources, hydrocarbon revenues remain central to Algeria's public finances. Energy market volatility introduces uncertainty, affecting budget stability and eco...

Introducción: El presente trabajo tiene como objetivo valorar proyectos de inversión en tecnologías de generación hidráulica y eólica teniendo en cuenta los riesgos del clima, mediante el uso de las opciones reales compuestas. Se parte de la premisa de que las metodologías tradicionales, entre ellas el Valor Presente Neto (VPN), presentan limitacio...

This research studies the current changes in Polish renewable resources employment and Poland’s position in rankings in comparison to European countries. The research aims to define the actual situation and the future perspectives of renewable energy sources (RES) employment in Poland. Several key research problems were formulated: What are the mai...

This study investigates the spillover effects associated with diverse market conditions in energy and carbon markets, encompassing both new and traditional energy sectors. Using a quantile vector autoregression approach, this research explores the dynamic interactions among carbon emissions, traditional energy, and new energy from January 1, 2019,...

The objective of this study was to understand the pathway that economies and companies could get prepared in case of drop on Oil & Gas demand. The study has made use of Literature Grounded Theory (LGT) to perform a Systematic Literature Review. Through this study it was possible to observe that Oil & Gas Cycle will last for many decades, and that c...

With the promotion of sustainable development, the strong support of the government and the enhancement of people's environmental awareness, new energy vehicles have gradually entered the public's vision and successfully opened a new energy market. At the beginning, only a small number of people in the research and development of new energy vehicle...

Accurate energy price forecasting is crucial for participants in day-ahead energy markets, as it significantly influences their decision-making processes. While machine learning-based approaches have shown promise in enhancing these forecasts, they often remain confined to the specific markets on which they are trained, thereby limiting their adapt...

Crude oil, as a vital strategic resource in the global energy and environmental landscape, significantly influences the global economy, financial markets, and progress toward low-carbon development. In recent years, the crude oil market has become increasingly complex due to the accelerating transition to green energy and low-carbon policies worldw...

Para estruturar a revisão dos requisitos técnicos da medição de energia elétrica no Brasil em consonância com a expansão do Ambiente de Contratação Livre (ACL), a substituição de medidores deve ser analisada e eventualmente não será uma exigência prévia para a expansão do mercado, pois trata-se de milhões de unidades consumido­ras, mas seria um ava...

The article titled "Energy Sharing in the Light of EU Law and Energy Justice" explores the concept of energy sharing, within the context of modern challenges associated with the energy transition and the pursuit of decarbonisation. The objective of this paper is to examine how EU law approaches the concept of energy sharing, and its impact on achie...

Climate change poses challenges to economies and financial markets, particularly energy sectors transitioning to low-carbon alternatives. This study explores the relationship between climate-related transition risks and the performance of brown and green energy stocks in the U.S. from February 2009 to December 2023, using the transition risk index...

Azerbaijan, a country with hydrocarbon resources, seeks to restructure its economy and energy system to become more resilient to climate change. The European Union's call for international climate action offers opportunities for a green energy transition in Azerbaijan. However, the economic, social, climatic, and environmental elements driving this...

The Russia-Ukraine war has rattled the international energy markets, modified the patterns of carbon dioxide (CO2) emissions, and changed the landscape of climate change mitigation.

Purpose: The aim of this article is to present the role of subsidies as a factor of competitiveness for businesses in the renewable energy sources (RES) market. Design/methodology/approach: First, a review of available subsidies in Poland for individual customers was conducted. Next, based on the survey, the sources of financing for the purchase of...

With the rapid advancement of smart grid technologies, peer-to-peer (P2P) energy trading has emerged as a promising solution for decentralizing energy distribution, allowing consumers to directly exchange surplus energy. However, this decentralized market introduces complex decision-making challenges due to the strategic interactions between prosum...

Game-theoretic reinforcement learning (GTRL) has been proposed as an effective framework to address these challenges, enabling agents (prosumers) to learn optimal trading strategies over time through interactions with their environment and other agents. In this paper, we explore the application of game-theoretic models combined with reinforcement l...

Chittorgarh like many other villages in India faces a dual challenge of unreliable electricity supply and heavy dependence on fossil fuels, which undermines economic development and environmental sustainability. Addressing this critical issue, this study explores the optimization of a hybrid grid-connected microgrid comprising wind turbines, solar...

The relationship between ports and energy markets is undergoing a transition in their functions as suppliers, consumers, and energy processors. Environmental factors increasingly force the maritime sector to reduce its carbon footprint and improve energy efficiency. Governing the maritime sector’s environmental performance requires leveling decarbo...

Energy is one of the most essential research categories, due to its heavy impact on the society, economy and politics. Solar thermal energy applications are significant due to the large consumption of heating and cooling. The international consumption of heating and cooling represents approximately 40% of the total energy market, according to[1]. A...

The renewable energy market, particularly the photovoltaic sector, has experienced significant growth over the past decade. Higher education institutions must play a vital role in the training of professionals, which the sector is currently demanding and will continue to require in the future. A pivotal resource for understanding the performance of...

Large-scale production of hydrogen using clean electricity from renewable energy sources (RESs) is gaining more momentum in attempts to foster the growth of the nascent hydrogen energy market. However, the inherited intermittency of RESs constitutes a significant challenge for the reliable and economic operation of electrolysers and consequently th...

The global energy crisis has affected energy markets and policies around the world. In addition, the issue of global warming requires the world to switch to clean energy sources. The Indonesian government has committed to switching from fossil energy subsidies to renewable energy to achieve Net Zero Emissions (NZE) by 2060 or sooner. The National R...

This current study explores the application of Generalized Autoregressive Conditional Heteroskedasticity (GARCH) models to forecast and model crude oil price volatility. Crude oil is a vital commodity whose price fluctuations significantly impact global economies, energy markets, and strategic decisions of both National Oil Companies (NOCs) and Int...

Introduction Despite its deliberate approach aimed at protecting the consumer interests of its citizens, the European Union has effectively restricted access to its energy market for countries that disregard the principles of international law. Consequently, this measure has precipitated shifts in pricing dynamics for specific goods and altered ene...

Sustainable energy management systems are part of the global energy transition by digitally transforming utility companies throughout the past decade. Industry 4.0 (4IR) has been adopted to improve competitiveness and align its processes with trends that require changes in the producer‐consumer relationship. This study examines how AES Colombia use...