We consider a firm that must undergo a costly and time-consuming regulatory process before making an irreversible, lagged investment whose value varies randomly. We analyze two cases: regulatory approval is valid forever or it expires after some time. We apply our model to Hydro-Québec's...

Empirical research on oil price dynamics for modeling and forecasting purposes has brought forth several unsettled issues. Indeed, statistical support is claimed for various models of price paths, yet many of the competing models differ importantly with respect to their fundamental temporal...

L'évolution de la consommation d'énergie entre deux périodes peut être décomposée de manière à souligner les rôles joués par le niveau d'activité économique, le changement structurel à l'intérieur du secteur étudié, les conditions climatiques et l'efficacité énergétique. Nous...

A cause du cadre réglementaire et des politiques gouvernementales qui s'appliquent à la demande d'énergie, celle-ci a reçu beaucoup d'attention de la part des développeurs de modèles. Dans cet article, je présente un modèle intégré de la demande totale d'énergie. Les principaux...

La consommation totale d'énergie du secteur commercial québécois a augmenté de 7,3% entre 1990 et 1998 (à l'exclusion de l'éclairage des voies publiques). Cet accroissement est attribué à une augmentation de l'activité économique mesurée en fonction de la surface de plancher (12,9%),...

Since January 1st, 1997, the wholesale electricity market in the U.S. has been open to competition through FERC Order 888. In order to satisfy the reciprocity requirements which were imposed by FERC to foreign utilities, Hydro-Québec made her transmission grid accessible to third parties. A...

Canada has ratified the Kyoto Protocol while the United States, its main trading partner, have not. A major concern of Canadian industrial producers is the negative impact on competitiveness of progorams designed to reduce greenhouse gas emissions (GHG). To alleviate this concern, the Government...

We develop a model in which two firms from different countries compete on each other domestic market. Each firms is jointly owned by the residents and the government of its country. The extent of the government's stake in the public enterprise is endogenous and it determines the weight given the...

We analyse how the wholesale electricity market deregulation could modify exchanges between three Canadian regions (Ontario, Quebec and New Brunswick) and two U.S. regions (New York and New England), which were already trading electricity before the regulatory change took place in 1997. We find...