Power systems with high shares of wind and solar power have to balance their intermittent nature. Pumpedâ€hydro storage plants can provide the required flexibility, while thermal backup plants offer an alternative. This paper proposes a model based on peakâ€loadâ€pricing theory to...

This report approaches current domains of development and tension within China. It was elaborated by students in the frame of a 'Task Force Seminar' in cooperation with the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU). It addresses the issues of...

The stylized model presented in this paper extends the approach developed by Fischer and Newell (2008) by analysing the optimal policy design in a context with more than one externality while taking explicitly into account uncertainty surrounding future emission damage costs. In the presence of...