Analyzing the impact of fossil fuel import reliance on electricity prices: The case of the Iberian Electricity Market

2017 ◽  
Vol 28 (7) ◽  
pp. 687-705 ◽  
Author(s):  
Blanca Moreno ◽  
María T García-Álvarez
Keyword(s):  
Carbon Dioxide ◽  
Electricity Market ◽  
Fossil Fuel ◽  
Carbon Dioxide Emission ◽  
High Energy ◽  
Electricity Production ◽  
The European Union ◽  
Electricity Prices ◽  
The Impact ◽  
The Eu

Spain and Portugal are highly dependent on energy from abroad, importing more than 70% of all the energy they consume. This high energy dependence could involve important effects on the level and stability of their electricity prices as a half the gross electricity generated in both countries came from power stations using imported combustible fuels (such as natural gas, coal and oil). In general, changes in the prices of these fossil fuels can directly affect household electricity prices, since generation costs are likely to be transmitted through to the wholesale electricity market. Moreover, in the framework of the European Union Emission Trading System, electricity production technologies tend to incorporate their costs of carbon dioxide emission allowances in sale offers with the consequent increase of the electricity prices. The objective of this paper is to analyze the influence of fossil fuel costs and prices of carbon dioxide emission allowances in the EU on the Spanish and Portuguese electricity prices. With this aim, a maximum entropy econometric approach is used. The obtained results indicate that not only the price of imported gas are very important in explaining Spanish and Portuguese electricity prices but also the price of carbon dioxide emission allowances in the EU.

The European Commission's proposed Directive on the geological storage of carbon dioxide

2008 ◽  
Vol 5 (2) ◽  
pp. 199-213 ◽  
Author(s):  
Mihai Tomescu ◽  
Scott Brockett ◽  
Martina Doppelhammer
Keyword(s):  
Carbon Dioxide ◽  
Fossil Fuel ◽  
Policy Instruments ◽  
Energy System ◽  
The European Union ◽  
Geological Storage ◽  
Combat Climate Change ◽  
And Storage ◽  
The Eu ◽  
Energy Package

AbstractThe 2007 Spring European Council called for the European Union (EU) to be at the forefront of efforts to combat climate change and endorsed ambitious targets aimed at setting the European energy system on a sustainable path. To ensure that these targets are met, the European Commission put forward a set of proposed policy instruments, the Climate and Energy Package, in January 2008. A key element of the adopted Package is the proposed Directive on the geological storage of carbon dioxide, a technology which can help tackle emissions from energy generation from fossil fuel sources which will otherwise compromise EU climate objectives. This paper lays out policy options to incentivise the deployment of carbon dioxide capture and storage (CCS) in the EU and presents the proposed Directive.

scholarly journals FUEL SUBSIDY, ENERGY CONSUMPTION AND ENVIRONMENTAL OUTCOMES IN NIGERIA

2020 ◽  
Vol 5 (1) ◽  
pp. 21-43
Author(s):  
Folorunso Sunday Ayadi ◽  
Keyword(s):  
Economic Growth ◽  
Carbon Dioxide ◽  
Energy Consumption ◽  
Fuel Consumption ◽  
Fossil Fuel ◽  
Greenhouse Gas Emission ◽  
Trade Openness ◽  
Carbon Dioxide Emission ◽  
Fossil Fuel Consumption ◽  
The Impact

This study investigates the impact of energy subsidy, energy consumption, urbanization, economic growth, foreign direct investment, and trade openness on carbon dioxide emission and other greenhouse gases in Nigeria. Based on the method of cointegration and Autoregressive Distributed Lag (ARDL), the study utilized data from 1970 to 2018 for the analysis. The study found fossil fuel consumption, economic growth, trade openness and PMS Price (a proxy for subsidy) as significantly increasing emission (Carbon dioxide) in Nigeria. The implication is that as that as the prices of PMS goes up (due to subsidy reduction), more of fuel is consumed. Our analysis demonstrated that PMS is price inelastic in Nigeria. In addition, subsidy or its removal will have no impact on carbon dioxide emission and other greenhouse gas emission in Nigeria. The study recommends the development of cleaner, renewable fuels and the development of abatement technology so as to mitigate the environmental impacts of growth. In addition, since the reduction in subsidy has no deterrent impact on fossil fuel consumption in Nigeria, then the recent removal of fossil fuel subsidy in Nigeria is a welcome development at least for the environment.

scholarly journals THE IMPACT OF GEOTHERMAL ENERGY SECTOR DEVELOPMENT ON ELECTRICITY SECTOR IN INDONESIA ECONOMY

2016 ◽  
Vol 19 (2) ◽  
pp. 153-176 ◽  
Author(s):  
Nayasari Aissa ◽  
Djoni Hartono
Keyword(s):  
Carbon Dioxide ◽  
Computable General Equilibrium ◽  
Geothermal Energy ◽  
Power Plants ◽  
Carbon Dioxide Emission ◽  
Electricity Sector ◽  
Electricity Production ◽  
The Government ◽  
Negative Impacts ◽  
The Impact

Energy is one of the most important inputs that supports Indonesia’s economy. The government utilises coal and oil as the main sources for power plants energy mix. However, the utilization of fossil fuel energy has been proven to pose negative impacts on the environment such as, increasing carbon dioxide emission which leads to global warming. This study analyses investment policy on increasing electricity production of geothermal power plants as well as substitution of fossil energy to geothermal energy using Computable General Equilibrium (CGE) Model and Indonesia’s data of Social Accounting Matrix 2008. The result shows that when investment on the substitution of energy from fossil to renewable energy takes place, economic growth will increase and carbon dioxide emission will reduce significantly.

Russia - European Union: The continuation ofthe sanctions standoff

2017 ◽  
pp. 114-127
Author(s):  
M. Klinova ◽  
E. Sidorova
Keyword(s):  
European Union ◽  
Economic Recession ◽  
Economic Sanctions ◽  
Current Data ◽  
The State ◽  
The European Union ◽  
The Impact ◽  
The Eu ◽  
Year 2013

The article deals with economic sanctions and their impact on the state and prospects of the neighboring partner economies - the European Union (EU) and Russia. It provides comparisons of current data with that of the year 2013 (before sanctions) to demonstrate the impact of sanctions on both sides. Despite the fact that Russia remains the EU’s key partner, it came out of the first three partners of the EU. The current economic recession is caused by different reasons, not only by sanctions. Both the EU and Russia have internal problems, which the sanctions confrontation only exacerbates. The article emphasizes the need for a speedy restoration of cooperation.

scholarly journals Tracking the Fate of Aluminium in the EU Using the MaTrace Model

Resources ◽  
2021 ◽  
Vol 10 (7) ◽  
pp. 72
Author(s):  
Gabriela Jarrín Jácome ◽  
María Fernanda Godoy León ◽  
Rodrigo A. F. Alvarenga ◽  
Jo Dewulf
Keyword(s):  
Secondary Production ◽  
Economic Importance ◽  
Baseline Scenario ◽  
Light Weight ◽  
The European Union ◽  
High Corrosion Resistance ◽  
Product Categories ◽  
The Impact ◽  
Selective Collection ◽  
The Eu

Aluminium is a metal of high economic importance for the European Union (EU), presenting unique properties (e.g., light weight and high corrosion resistance) and with applications in important sectors (e.g., transportation, construction and packaging). It is also known for its high recyclability potential, but relevant losses occur in its life cycle, compromising the amount of aluminium available for secondary production. A novel methodology that allows the identification of these losses and their impact on the aluminium flows in society is the MaTrace model. The objective of this article is to perform a dMFA of the secondary production of aluminium in the EU technosphere using the modified version of MaTrace, in order to estimate flows of the metal embedded in 12 product categories. Twelve scenarios were built in order to assess the impact of changes in policies, demand and technology. The flows were forecasted for a period of 25 years, starting in 2018. The results of the baseline scenario show that after 25 years, 24% of the initial material remains in use, 4% is hoarded by users, 10% has been exported and 61% has been physically lost. The main contributor to the losses is the non-selective collection of end-of-life products. The results of the different scenarios show that by increasing the collection-to-recycling rates of the 12 product categories, the aluminium that stays in use increase up to 32.8%, reaffirming that one way to keep the material in use is to improve the collection-to-recycling schemes in the EU.

scholarly journals New Plant Breeding Technologies: An Assessment of the Political Economy of the Regulatory Environment and Implications for Sustainability

2021 ◽  
Vol 13 (7) ◽  
pp. 3687
Author(s):  
Vincent Smith ◽  
Justus H. H. Wesseler ◽  
David Zilberman
Keyword(s):  
Political Economy ◽  
Sustainable Development ◽  
Development Policy ◽  
Regulatory Environment ◽  
The European Union ◽  
Policy Makers ◽  
International Policies ◽  
Modern Biotechnology ◽  
The Impact ◽  
The Eu

This perspective discusses the impact of political economy on the regulation of modern biotechnology. Modern biotechnology has contributed to sustainable development, but its potential has been underexplored and underutilized. We highlight the importance of the impacts of regulations for investments in modern biotechnology and argue that improvements are possible via international harmonization of approval processes. This development is urgently needed for improving sustainable development. Policy makers in the European Union (EU) in particular are challenged to rethink their approach to regulating modern biotechnology as their decisions have far ranging consequences beyond the boundaries of the EU and they have the power to influence international policies.

scholarly journals Can the implementation of the Europe 2020 Strategy goals be efficient? The challenge for achieving social equality in the European Union

Equilibrium ◽  
2017 ◽  
Vol 12 (3) ◽  
Author(s):  
Michaela Stanickova
Keyword(s):  
European Union ◽  
Income Inequality ◽  
Labour Market ◽  
Social Inequality ◽  
The European Union ◽  
Social Equality ◽  
Europe 2020 ◽  
Europe 2020 Strategy ◽  
The Impact ◽  
The Eu

Research background: Economic crisis hit all the European Union Member States hard, with the impact of crisis varying considerably. The low growth performance in the EU has increased concerns regarding an increasing wage dispersion, income inequality at large, and social exclusion in line with poverty. Inequality should be seen as a cornerstone of both sustainable and inclusive growth under the Europe 2020 Strategy. Social inequality in the EU is a real problem, which hampers sustainable economic growth. Purpose of the article: The purpose of this study is to introduce evaluation of social development convergence and divergence trends between the EU Member States in the context of the Europe 2020 Strategy. The study gives an outline of the issues of the labour market and income disparities and poverty. Policymakers must be clear about what social objectives they are aiming to achieve, therefore special attention is paid to headline national goals of the Europe 2020 Strategy. Methods: The main task of this study is to assess social dimension and inequalities problems in the EU27 by applying Data Envelopment Analysis method, resp. time-series dynamic efficiency analysis in the form of output-oriented Malmquist Productivity Index. This study contains changes of key social equality indicators related to the Europe 2020 Strategy and compares objectives and general outlines of period 2010-2015, as well as the impact on national economics and living conditions. Findings & value added: Results contain elements of typology premises of the EU28 and point to a large diversity in inequality patterns, as the Author observes both increases and decreases in inequality at the EU level. Recent changes in social inequality have been associated with the business cycle, particularly with the accessibility of the labour market and, of course, with income inequality. Additionally, the development challenges are discussed for improvement of the socioeconomic well-being of the EU and to avoid social disparities.

scholarly journals ENERGY-RELATED CARBON DIOXIDE EMISSIONS AND ENVIRONMENTAL EFFICIENCY IN THE EUROPEAN UNION AGRICULTURE: COMPARISON OF DIFFERENT BENCHMARKING TECHNIQUES

2016 ◽  
Vol 38 (3) ◽  
pp. 192-206 ◽  
Author(s):  
Tomas Baležentis ◽  
Daiva Makutėnienė
Keyword(s):  
Carbon Dioxide ◽  
European Union ◽  
Carbon Dioxide Emissions ◽  
Carbon Dioxide Emission ◽  
Value Added ◽  
The European Union ◽  
Undesirable Output ◽  
Energy Technologies ◽  
Desirable Output ◽  
Low Performance

The literature suggests different approaches towards modelling of the environmental impact caused by the production processes. The present paper attempts to establish a framework for multicriteria comparison of agricultural sectors of the European Union Member States and identify the performance gaps in terms of energy-related carbon dioxide emission. The research relies on the two approaches, viz. the by-production approach and the multi-criteria decision making approach. The environmental performance indicators were evaluated in regards to the desirable output (gross value added), inputs, and the undesirable output (carbon dioxide emission). The results indicate that Slovakia, Estonia, Lithuania, and Hungary should attempt to improve their carbon factors by implementing cleaner energy technologies. The combinations of by-production sub-indices suggest that productivity gains are more important for Sweden, Belgium, Poland, and France. Czech Republic, Latvia, and Finland are specific with low performance in terms of both the intended production and the undesirable output. The MCDM approach identified similar trends in performance as suggested by country ranking and correlation analysis.

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