The hydrogen economy is currently experiencing a surge in attention, partly due to the possibility of absorbing wind and solar energy production peaks through electrolysis. A fundamental challenge with this approach is low utilization rates of various parts of the integrated electricity-hydrogen...

Capital-intensive CO2 capture plants become uneconomical at the low running hours implied by a renewables-based power system. To address this challenge, the novel gas switching reforming (GSR) power and hydrogen plant was recently proposed. When electricity is scarce, GSR generates power. When...

With the growth of wind and solar energy in electricity supply, the electrification of space heating is becoming a promising decarbonization option. In turn, such electrification may help the power system integration of variable renewables, for two reasons: thermal storage could provide low-cost...

Stable power systems require equalizing demand and supply of electricity at short time scales. Such electricity balancing is often understood as a sequential process: exogenous shocks, such as weather events or technical outages, cause system imbalances that system operators close by activating...

Since September 2021, European natural gas prices are at record-high levels. On average, they have been six to seven times higher than pre-pandemic price levels. While the post-pandemic recovery of global natural gas demand has driven up prices around the world, the most important drivers for...

Europe is in the midst of the most severe energy crisis in a generation, at the core of which is the continuously plummeting supply of Russian natural gas. With alternative supply options being limited, natural gas prices have surged. This paper empirically estimates the response of natural gas...

The Electricity Market Model EMMA is a techno-economic model of the integrated European power system. It simulates investment, dispatch, and trade, minimizing total costs subject to a large set of technical constraints. In economics terms, it is a partial equilibrium model of the wholesale...

Electricity is a peculiar economic good, the most important reason being that it needs to be supplied at the very moment of consumption. As a result, wholesale electricity prices fluctuate widely at hourly or sub-hourly time scales, regularly reaching multiples of their average, and even turn...

When Russia curbed natural gas supply to Europe in 2021 and 2022, it created a grave energy crisis. This paper empirically estimates the crisis response of natural gas consumers in Germany—for decades the largest export market for Russian gas. Using a multiple regression model, we estimate the...

Russia curbed its natural gas supply to Europe in 2021 and 2022, creating a grave energy crisis. This paper empirically estimates the crisis response of natural gas consumers in Germany—for decades the largest export market for Russian gas. Using a multiple regression model, we estimate the...