The mathematical conditions for the existence of macroeconomic production functions that are state functions of the economic system are pointed out. The output elasticities and the elasticities of substitution of energy-dependent Cobb-Douglas, CES and LinEx production functions are calculated....

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. Increasing Chinese demand for steam coal will lead to a growing need for additional domestic infrastructure in China as...

In this article we demonstrate how challenging greenhouse gas reduction targets of up to 95% until 2050 can be achieved in the German electricity sector.1 In the analysis, we focus on the main requirements to reach such challenging targets. To account for interdependencies between the...

Due to the increasing European import dependency, significant additional natural gas volumes will be required. In addition to the Nord Stream pipeline, the Nabucco and South Stream pipeline are projects planned for the next decade to provide further gas supplies to the European market. As one of...

The seaborne steam coal market changed in recent years. Trade volumes grew dynamically, important players emerged and since 2007 prices increased significantly and remained relatively high since then. In this paper we analyse market equilibria in the years 2006 and 2008 by testing for two...

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...

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. However, this situation would...

Nuclear power is an important pillar in electricity generation in France. However, France's nuclear power plant fleet is ageing, and the possibility of reducing its share in power generation or even a complete phaseout has been increasingly discussed. Our research therefore focuses on three...

The prevalent market structures found in many resource markets consist of a high concentration on the supply side and a low demand elasticity. Market results are therefore frequently assumed to be an outcome of strategic interaction between producers. Common models to investigate the market...

In liberalized power systems, generation and transmission services are unbundled, but remain tightly interlinked. Congestion management in the transmission network is of crucial importance for the efficiency of these inter-linkages. Different regulatory designs have been suggested, analyzed and...