Behavioral considerations for effective time-varying electricity prices

2017 ◽  
Vol 1 (2) ◽  
pp. 219-251 ◽  
Author(s):  
IAN SCHNEIDER ◽  
CASS R. SUNSTEIN
Keyword(s):  
Electricity Consumption ◽  
Default Rule ◽  
Time Varying ◽  
System A ◽  
Trade Offs ◽  
Short Run ◽  
Rate Design ◽  
End Use ◽  
Price Distortions ◽  
Rate Type

AbstractWholesale prices for electricity vary significantly due to high fluctuations and low elasticity of short-run demand. End-use customers have typically paid flat retail rates for their electricity consumption, and time-varying prices (TVPs) have been proposed to help reduce peak consumption and lower the overall cost of servicing demand. Unfortunately, the general practice is an opt-in system: a default rule in favor of TVPs would be far better. A behaviorally informed analysis also shows that when transaction costs and decision biases are taken into account, the most cost-reflective policies are not necessarily the most efficient. On reasonable assumptions, real-time prices can result in less peak conservation of manually controlled devices than time-of-use or critical-peak prices. For that reason, the trade-offs between engaging automated and manually controlled loads must be carefully considered in time-varying rate design. The rate type and accompanying program details should be designed with the behavioral biases of consumers in mind, while minimizing price distortions for automated devices.

Electricity consumption and economic growth in ASEAN

2017 ◽  
Vol 5 (2) ◽  
pp. 16
Author(s):  
Ahmad Ghazali Ismail ◽  
Arlinah Abd Rashid ◽  
Azlina Hanif
Keyword(s):  
Economic Growth ◽  
Energy Use ◽  
Electricity Consumption ◽  
Panel Estimation ◽  
Real Gdp ◽  
Long Run ◽  
Bidirectional Relationship ◽  
Short Run ◽  
Using Data ◽  
The Relationship

The relationship and causality direction between electricity consumption and economic growth is an important issue in the fields of energy economics and policies towards energy use. Extensive literatures has discussed the issue, but the array of findings provides anything but consensus on either the existence of relations or direction of causality between the variables. This study extends research in this area by studying the long-run and causal relations between economic growth, electricity consumption, labour and capital based on the neo-classical one sector aggregate production technology mode using data of electricity consumption and real GDP for ASEAN from the year 1983 to 2012. The analysis is conducted using advanced panel estimation approaches and found no causality in the short run while in the long-run, the results indicate that there are bidirectional relationship among variables. This study provides supplementary evidences of relationship between electricity consumption and economic growth in ASEAN.

Study of Hydraulic Servo System Based on Fuzzy Sliding Mode Algorithm

2013 ◽  
Vol 753-755 ◽  
pp. 2674-2678
Author(s):  
Kun Yang ◽  
Cai Jun Liu ◽  
Shu Min Liu
Keyword(s):  
Control Algorithm ◽  
Sliding Mode ◽  
Servo System ◽  
Time Varying ◽  
External Interference ◽  
System A ◽  
Hydraulic Servo ◽  
Fuzzy Sliding Mode ◽  
Hydraulic Servo System ◽  
Position Servo

Based on the situation that the hydraulic position servo system is easily influenced by the external interference and the parameters of which are different with time-varying, the fuzzy control can soften the buffeting and the sliding algorithm has no the same problems as the hydraulic position servo system, a brandly-new fuzzy sliding control algorithm is designed. In the simulation process, within the parameters of simulated time-varying and outside strong interference, the results show that the hydraulic servo system based on fuzzy sliding mode control algorithm has a greater resistance to internal and external interference and time-varying parameters.

Design strategies for oxy-combustion power plant captured CO2 purification

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Ikenna J. Okeke ◽  
Tia Ghantous ◽  
Thomas A. Adams
Keyword(s):  
Power Plant ◽  
Flue Gas ◽  
Capture Rate ◽  
Ghg Emissions ◽  
Oxygen Removal ◽  
Water Removal ◽  
Design Strategies ◽  
Technoeconomic Analysis ◽  
Trade Offs ◽  
End Use

Abstract This study presents a novel design and techno-economic analysis of processes for the purification of captured CO2 from the flue gas of an oxy-combustion power plant fueled by petroleum coke. Four candidate process designs were analyzed in terms of GHG emissions, thermal efficiency, pipeline CO2 purity, CO2 capture rate, levelized costs of electricity, and cost of CO2 avoided. The candidates were a classic process with flue-gas water removal via condensation, flue-gas water removal via condensation followed by flue-gas oxygen removal through cryogenic distillation, flue-gas water removal followed by catalytic conversion of oxygen in the flue gas to water via reaction with hydrogen, and oxy-combustion in a slightly oxygen-deprived environment with flue-gas water removal and no need for flue gas oxygen removal. The former two were studied in prior works and the latter two concepts are new to this work. The eco-technoeconomic analysis results indicated trade-offs between the four options in terms of cost, efficiency, lifecycle greenhouse gas emissions, costs of CO2 avoided, technical readiness, and captured CO2 quality. The slightly oxygen-deprived process has the lowest costs of CO2 avoided, but requires tolerance of a small amount of H2, CO, and light hydrocarbons in the captured CO2 which may or may not be feasible depending on the CO2 end use. If infeasible, the catalytic de-oxygenation process is the next best choice. Overall, this work is the first study to perform eco-technoeconomic analyses of different techniques for O2 removal from CO2 captured from an oxy-combustion power plant.

scholarly journals Cointegration and Causality Analysis of Dynamic Linkage between Industrial Energy Consumption and Economic Growth in Pakistan

2019 ◽  
Vol 11 (17) ◽  
pp. 4546 ◽  
Author(s):  
Chandio ◽  
Rauf ◽  
Jiang ◽  
Ozturk ◽  
Ahmad
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Electricity Consumption ◽  
Industrial Sector ◽  
Oil Consumption ◽  
Industrial Oil ◽  
Long Run ◽  
Industrial Energy ◽  
Short Run ◽  
Gas Consumption

Energy consumption is a crucial factor to promote industrial sector contribution in an economy for its economic progression. Indeed, Pakistan is an emerging country, but recently adjoining with a very severe deficit of electricity sources. Hence, the industry value added growth leading to economic progression is also fronting inevitable challenges to promote the industry growth. The main objective of the study is to investigate the linkages between industrial sector oil, gas and electricity consumption, and renewable energy consumption with economic development in Pakistan. The findings display evidence of cointegration and a long-run relationship between the consumption of industrial energy and economic growth in Pakistan. The results showed that industrial electricity consumption and industrial gas consumption have a positive and statistically significant impact on economic growth both in the long run and the short run in Pakistan. Industrial oil consumption negatively impacts economic growth in the long run, but positively and statistically significantly impacts economic growth in the short run in Pakistan. Moreover, indications through the vector error correction model (VECM) model confirmed bi-directional relationships of industrial sector oil consumption and economic growth in Pakistan. Furthermore, the uni-directional nexus instituted between economic growth to industrial electricity consumption, industrial gas consumption to industrial electricity consumption, and industrial oil consumption to industrial electricity consumption. The findings uncovered solid interconnections among the studied variables and suggested that the Pakistani government should build a robust policy to diminish the oil, gas, and fossil fuels consumption for electricity production, as a replacement to depend on solar, hydro, wind, and biomass energy sources in Pakistan. Consequently, the government should promote more gas concentrated projects, as these will alleviate the contests of gas dearth and provide it to the industry at cheap prices with ease.

scholarly journals Time-Varying Effects of Oil Supply Shocks on the US Economy

2013 ◽  
Vol 5 (4) ◽  
pp. 1-28 ◽  
Author(s):  
Christiane Baumeister ◽  
Gert Peersman
Keyword(s):  
Oil Price ◽  
Time Varying ◽  
Oil Supply ◽  
Us Economy ◽  
Supply Shocks ◽  
The Us ◽  
Short Run ◽  
Oil Demand ◽  
Substantial Decline ◽  
Oil Supply Shocks

Using time-varying BVARs, we find a substantial decline in the short-run price elasticity of oil demand since the mid-1980s. This finding helps explain why an oil production shortfall of the same magnitude is associated with a stronger response of oil prices and more severe macroeconomic consequences over time, while a similar oil price increase is associated with smaller output effects. Oil supply shocks also account for a smaller fraction of real oil price variability in more recent periods, in contrast to oil demand shocks. The overall effects of oil supply disruptions on the US economy have, however, been modest. (JEL E31, E32, Q41, Q43)

scholarly journals Time-varying natural mortality in fisheries stock assessment models: identifying a default approach

2014 ◽  
Vol 72 (1) ◽  
pp. 137-150 ◽  
Author(s):  
Kelli F. Johnson ◽  
Cole C. Monnahan ◽  
Carey R. McGilliard ◽  
Katyana A. Vert-pre ◽  
Sean C. Anderson ◽  
...  
Keyword(s):  
Stock Assessment ◽  
Assessment Method ◽  
Reference Points ◽  
Natural Mortality ◽  
Time Varying ◽  
Fishing Mortality ◽  
Total Allowable Catch ◽  
Robust Approach ◽  
Structured Population Models ◽  
Trade Offs

Abstract A typical assumption used in most fishery stock assessments is that natural mortality (M) is constant across time and age. However, M is rarely constant in reality as a result of the combined impacts of exploitation history, predation, environmental factors, and physiological trade-offs. Misspecification or poor estimation of M can lead to bias in quantities estimated using stock assessment methods, potentially resulting in biased estimates of fishery reference points and catch limits, with the magnitude of bias being influenced by life history and trends in fishing mortality. Monte Carlo simulations were used to evaluate the ability of statistical age-structured population models to estimate spawning-stock biomass, fishing mortality, and total allowable catch when the true M was age-invariant, but time-varying. Configurations of the stock assessment method, implemented in Stock Synthesis, included a single age- and time-invariant M parameter, specified at one of the three levels (high, medium, and low) or an estimated M. The min–max (i.e. most robust) approach to specifying M when it is thought to vary across time was to estimate M. The least robust approach for most scenarios examined was to fix M at a high value, suggesting that the consequences of misspecifying M are asymmetric.

Shaft Instabilities in Two-Stage Gear Systems

2013 ◽  
Vol 275-277 ◽  
pp. 930-935
Author(s):  
Zhe Rao ◽  
Chun Yan Zhou
Keyword(s):  
Multiple Scale ◽  
Gear System ◽  
Dynamic Equations ◽  
Time Varying ◽  
Kutta Method ◽  
Two Stage ◽  
Scale Method ◽  
System A ◽  
Runge Kutta Method ◽  
Intermediate Shaft

The present paper is focused on the torsional instabilities of the intermediate shaft in a two stage gear system. A theoretical model is established taking account in the torsional flexibility of the intermediate shaft and the meshing time-varying stiffness of the gears. Multiple scale method is applied to analysis the instability areas of the gear system for which the generalized modal coordinate is adopted. The result is certificated by numerical integrals of the dynamic equations by Runge-Kutta Method.

ASSESSING THE LINKAGES BETWEEN THE ELECTRICITY CONSUMPTION AND ECONOMIC FACTORS IN A LANDLOCKED ECONOMY: CASE STUDY OF LAO PDR

2020 ◽  
pp. 1-25
Author(s):  
NISIT PANTHAMIT ◽  
CHUKIAT CHAIBOONSRI
Keyword(s):  
Bayesian Inference ◽  
Lao Pdr ◽  
Energy Resource ◽  
Electricity Consumption ◽  
Energy System ◽  
Relationship Analysis ◽  
Explanatory Factors ◽  
Long Run ◽  
Short Run

This research paper aims to investigate linkages of electricity consumption representing energy security with estimated factors — GDP, population and foreign direct investment (FDI) during 1998–2018 for Laos People Democratic Republic (Lao PDR) by using ARDLbased Bayesian inference. This study provided empirical evidence on a long-run linear relationship analysis under ARDL-based Bayesian inference, which concludes that they have performed real relationships between electricity consumption, GDP, population and FDI. In addition, in the short-run, it was found that explanatory factors have both negative and positive impacts on Laos’ electricity consumption. The results confirm the hypothesis that although Lao PDR has access to domestic energy resources, only relying on one energy resource will make the energy system insecure. Thus, Lao PDR must develop substantial infrastructures and alternative renewable energies to support the campaign of Lao PDRs electricity security in the long-run.

scholarly journals Robust Fault Estimation for a Class of T-S Fuzzy Singular Systems with Time-Varying Delay via Improved Delay Partitioning Approach

2016 ◽  
Vol 2016 ◽  
pp. 1-15 ◽  
Author(s):  
Chao Sun ◽  
FuLi Wang ◽  
XiQin He
Keyword(s):  
Singular Systems ◽  
Singular System ◽  
Fault Estimation ◽  
Linear Matrix ◽  
Time Varying ◽  
Time Varying Delay ◽  
System A ◽  
Delay Dependent ◽  
Takagi Sugeno ◽  
Varying Delay

The problem of delay-dependent robust fault estimation for a class of Takagi-Sugeno (T-S) fuzzy singular systems is investigated. By decomposing the delay interval into two unequal subintervals and with a new and tighter integral inequality transformation, an improved delay-dependent stability criterion is given in terms of linear matrix inequalities (LMIs) to guarantee that the fuzzy singular system with time-varying delay is regular, impulse-free, and stable firstly. Then, based on this criterion, by considering the system fault as an auxiliary disturbance vector and constructing an appropriate fuzzy augmented system, a fault estimation observer is designed to ensure that the error dynamic system is regular, impulse-free, and robustly stable with a prescribedH∞performance satisfied for all actuator and sensor faults simultaneously, and the obtained fault estimates can practically better depict the size and shape of the faults. Finally, numerical examples are given to show the effectiveness of the proposed approach.

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