Ziel dieses Papers ist es, im Hinblick auf die in Deutschland geplante Einführung eines Qualitätsanreizsystems bei Elektrizitätsnetzbetreibern, eine geeignete Methode für die hierfür notwendige Bewertung der Netzzuverlässigkeit gleichbedeutend mit den wohlfahrtswirksamen Stromausfallkosten...

Energy products such as power, gas, and oil have long been the world's premier commodities. Consumers demand that power and fuel are available when they want it and they prefer to pay less for it. Few know or care where their fuel or power comes from. So for years energy companies believed that...

This paper opens with a short recollection of the Kiel Week Conference of 2002, recorded in a volume edited by Horst Siebert, titled Global Governance: An Architecture for the World Economy. Assess-ments and forecasts made at that time are scored against subsequent developments. Security...

This paper proposes a partial equilibrium model to describe the global crude oil market. Pricing on the global crude oil market is strongly influenced by price indices such as WTI (USA) and Brent (Northwest Europe). Adapting an approach for pool-based electricity markets, the model captures the...

In this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value chain - export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in particular, we combine data on steam coal prices with freight...

The dramatic reduction in global demand, and the decline in the spot price of crude oil in the second half of last year, may have significant implications for the future supply of oil. Investments in conventional methods of extraction have been constrained, since easily accessible oil reserves...

Several recent articles have analyzed climate policy giving explicit attention to the non-renewable character of carbon resources. In most of this literature the economy is treated as a single unit, which in the context of climate policy seems reasonable to interpret as the whole world. However,...