In this study, we address a major problem in the measurement of firm performance and the regulation of natural monopolies, namely the intertemporal character of long-term investment decisions. In specific, we focus on the impact of adjustment costs of investments on estimates of firms' technical...

Several countries around the world have introduced reforms to the electric power sector. One important element of these reforms is the introduction of an unbundling process, i.e., the separation of the competitive activities of supply and production from the monopole activity of transmission and...

The uprising and military confrontation in Libya that began in February 2011 has led to disruptions of gas supplies to Europe. An analysis of how Europe has compensated for these missing gas volumes shows that this situation has not affected security of supply. <p> However, this situation would...</p>

In the aftermath of the nuclear catastrophe in Fukushima, German nuclear policy has been reconsidered. This paper demonstrates the economic effects of an accelerated nuclear phase-out on the German electricity generation sector. <p> A detailed optimization model for European electricity markets is...</p>

In this paper, we develop a methodology for deriving a consistent measure for supply adequacy in the power generation sector. We especially consider the secured generation capacity of intermittent renewable energy sources such as wind. <p> Availability of conventional power plants is estimated...</p>

Renewable energies are meant to produce a large share of the future electricity demand. However, the availability of wind and solar power depends on local weather conditions and therefore weather characteristics must be considered when optimizing the future electricity mix. <p>In this article we...</p>

During 2007 and 2008 steam coal prices soared to unprecedented levels. Since then much has been speculated about the drivers of these price peaks. This paper is concerned with the costs of steam coal allocation in the seaborne market and their influence on the price equilibrium. It presents an...

In this work we demonstrate the effects of different Chinese transport infrastructure investment strategies on long run marginal costs of steam coal supply in Europe. <p> Increasing Chinese demand for steam coal will lead to a growing need for additional domestic infrastructure in China as...</p>

A linear energy system model is presented which optimises the future development of electricity generation capacities and their dispatch in Europe. Besides conventional power plants, combined heat and power plants and power storages, the model considers technologies that support the future high...

In this article we analyze the value of thermal energy storages in concentrated solar plants depending on the electricity generation mix. To determine the value from a system integrated view we model the whole electricty generation market of the Iberian Peninsula. <p> Key findings for thermal...</p>