Flexible IT platform for synchronizing energy demands with volatile markets

2018 ◽  
Vol 60 (3) ◽  
pp. 155-164 ◽  
Author(s):  
Paul Schott ◽  
Raphael Ahrens ◽  
Dennis Bauer ◽  
Fabian Hering ◽  
Robert Keller ◽  
...  
Keyword(s):  
Demand Response ◽  
Business Case ◽  
Electricity Production ◽  
Demand And Supply ◽  
Know How ◽  
Electricity System ◽  
Energy Demands ◽  
Production Processes ◽  
Long Run ◽  
Additional Level

Abstract Abandoning fossil and nuclear energy sources in the long run and increasing amount of renewable energies in electricity production causes a more volatile power supply. Depending on external realities, renewable energy production emphasizes the need for measures to guarantee the necessary balance of demand and supply in the electricity system at all times. Energy intensive industry processes theoretically include high Demand Response potentials suitable to tackle this increasing supply volatility. Nevertheless, most companies do not operate their production in a flexible manner due to multiple reasons: among others, the companies lack know-how, technologies and a clear business case to introduce an additional level of flexibility into their production processes, they are concerned about possible impacts on their processes by varying the electricity demand and need assistance in exploiting their flexibility. Aside from fostering knowledge in industry companies, an IT-solution that supports companies to use their processes’ Demand Response potential has become necessary. Its concept must support companies in managing companies’ energy-flexible production processes and monetarize those potentials at flexibility markets. This paper presents a concept, which integrates both companies and energy markets. It enables automated trading of companies’ Demand Response potential on different flexibility markets.

Regulating Electricity Storage in the European Union

2018 ◽  
Author(s):  
Matthijs van Leeuwen ◽  
Martha Roggenkamp
Keyword(s):  
Renewable Energy Sources ◽  
Legal Framework ◽  
Electricity Production ◽  
The European Union ◽  
Subsequent Increase ◽  
Demand And Supply ◽  
Electricity Storage ◽  
Electricity System ◽  
Pros And Cons ◽  
The Eu

The chapter discusses the EU regulatory framework governing electricity storage. The obligation to reduce greenhouse gas emissions and the subsequent increase of electricity production from intermittent renewable energy sources is causing problems for balancing demand and supply, thus also balancing networks. Electricity storage is key to managing any excess electricity production and avoiding negative prices. However, this development takes place in a liberalized energy market, where network operators must act independently from production and supply. Establishing the purpose of electricity storage and where storage can or should be placed is crucial. The authors present the reasons for and the types of electricity storage available; analyse the EU legal framework ; identify potential obstacles; and present pros and cons for positioning storage in the electricity system. Finally, they discuss whether the EU Commission’s proposal to legislate electricity storage meets the requirements for providing cost efficiency and thus provides sufficient regulatory certainty.

Blockchain in Supply Chain: Case Study of Lottemart Ciputat

2019 ◽  
Vol 5 (1) ◽  
pp. 38-49 ◽  
Author(s):  
B. K. Handoyo ◽  
M. R. Mashudi ◽  
H. P. Ipung
Keyword(s):  
Decision Making ◽  
Supply Chain ◽  
Supply Chain Management ◽  
Information Asymmetry ◽  
New Technology ◽  
Business Case ◽  
Analysis Method ◽  
Chain Management ◽  
Production Processes

Current supply chain methods are having difficulties in resolving problems arising from the lack of trust in supply chains. The root reason lies in two challenges brought to the traditional mechanism: self-interests of supply chain members and information asymmetry in production processes. Blockchain is a promising technology to address these problems. The key objective of this paper is to present qualitative analysis for blockchain in supply chain as the decision-making framework to implement this new technology. The analysis method used Val IT business case framework, validated by the expert judgements. The further study needs to be elaborated by either the existing organization that use blockchain or assessment by the organization that will use blockchain to improve their supply chain management.

Evaluating basketball player’s rotation line-ups performance via statistical markov chain modelling

2021 ◽  
pp. 174795412110090
Author(s):  
Pavlos Kolias ◽  
Nikolaos Stavropoulos ◽  
Alexandra Papadopoulou ◽  
Theodoros Kostakidis
Keyword(s):  
Markov Chain ◽  
Markov Chain Model ◽  
Specific Rotation ◽  
Multiple Regression Model ◽  
Chain Model ◽  
Know How ◽  
Basketball Game ◽  
Long Run ◽  
Rotation Line ◽  
Rating Category

Coaches in basketball often need to know how specific rotation line-ups perform in either offense or defense and choose the most efficient formation, according to their specific needs. In this research, a sample of 1131 ball possession phases of Greek Basket League was utilized, in order to estimate the offensive and defensive performance of each formation. Offensive and defensive ratings for each formation were calculated as a function of points scored or received, respectively, over possessions, where possessions were estimated using a multiple regression model. Furthermore, a Markov chain model was implemented to estimate the probabilities of the associated formation’s performance in the long run. The model could allow us to distinguish between overperforming and underperforming formations and revealed the probabilities over the evolution of the game, for each formation to be in a specific rating category. The results indicated that the most dominant formation, in terms of offense, is Point Guard-Point Guard-Small Forward-Power Forward-Center, while defensively schema Point Guard-Shooting Guard-Small Forward-Center-Center had the highest rating. Such results provide information, which could operate as a supplementary tool for the coach’s decisions, related to which rotation line-up patterns are mostly suitable during a basketball game.

scholarly journals The spatial integration of potato wholesale markets of Uttarakhand in India

2017 ◽  
Vol 14 (2) ◽  
pp. 20-30 ◽  
Author(s):  
A Kumar ◽  
R Mishra
Keyword(s):  
Wholesale Price ◽  
Likelihood Method ◽  
Spatial Integration ◽  
Market Information ◽  
Demand And Supply ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
Price Demand

This paper analyzes the spatial integration of potato markets in Uttarakhand using monthly wholesale price for ten years. The maximum likelihood method of cointegration developed by Johansen (1988) was used in the study. The dynamics of short-run price responses were examined using vector error correction model (VECM). The results indicated that five potato markets reacted on the long-run cointegrating equations while the speed of price adjustment in the short-run was almost absent. Moreover, it was found that the longer the distance between the markets, the weaker the integration was. To increase the efficiency of potato markets in Uttarakhand, there is need to focus on building an improved market information system. This system should be able to disseminate timely market information about price, demand and supply of produce to enable producers, traders and consumers to make proper production and marketing decisions.SAARC J. Agri., 14(2): 20-30 (2016)

scholarly journals The Determinants of Food Prices in Pakistan

2012 ◽  
Vol 17 (1) ◽  
pp. 101-128 ◽  
Author(s):  
Henna Ahsan ◽  
Zainab Iftikhar ◽  
M. Ali Kemal
Keyword(s):  
Active Role ◽  
Food Prices ◽  
Significant Variable ◽  
Demand And Supply ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Lag Model

Controlling prices is one of the biggest tasks that macroeconomic policymakers face. The objective of this study is to analyze the demand- and supply-side factors that affect food prices in Pakistan. We analyze their long-run relationship using an autoregressive distributed lag model for the period 1970–2010. Our results indicate that that the most significant variable affecting food prices in both the long and short run is money supply. We also find that subsidies can help reduce food prices in the long run but that their impact is very small. Increases in world food prices pressurize the domestic market in the absence of imports, which cause domestic food prices to rise. If, however, we import food crops at higher international prices, this can generate imported inflation. The error correction is statistically significant and shows that market forces play an active role in restoring the long-run equilibrium.

scholarly journals Russia’s diversification prospects

2019 ◽  
Vol 5 (2) ◽  
pp. 177-198 ◽  
Author(s):  
Ivan Lyubimov
Keyword(s):  
South Africa ◽  
Network Theory ◽  
Status Quo ◽  
Trade Flows ◽  
Detailed Data ◽  
Relative Level ◽  
Complex Products ◽  
Know How ◽  
Russian Economy ◽  
Long Run

The Russian economy heavily relies on exports of its natural resources. However, the resource-based status quo does not seem to be the route towards Russia’s long-run prosperity. To improve its position in the global income ranking, Russia needs to diversify its exports and make them more complex. Using highly detailed data on trade flows and applying network theory apparatus, we evaluate the level of export complexity in Russia from 1995 to 2016 and compare it with that of its BRICS fellow members. We find that Russia is stagnant with respects to its relative level of export complexity. This sluggishness embraced the entire period between 1995 and 2016, much longer than the stage of anemic growth that started there a decade ago. We also conclude that the current stock of know-how in Russia is relatively low and fragmented, thus not letting Russia diversify into a broad range of more complex products. Russia might also need to export a wider variety of products to richer economies. Today, on a par with Brazil and South Africa, it supplies a broader range of goods to its slowly growing next-door neighbors.

scholarly journals Assessing Hybrid Solar-Wind Potential for Industrial Decarbonization Strategies: Global Shift to Green Development

Energies ◽  
2021 ◽  
Vol 14 (22) ◽  
pp. 7620
Author(s):  
Haroon ur Rashid Khan ◽  
Usama Awan ◽  
Khalid Zaman ◽  
Abdelmohsen A. Nassani ◽  
Mohamed Haffar ◽  
...  
Keyword(s):  
Green Technology ◽  
Oil Products ◽  
Electricity Production ◽  
Carbon Intensity ◽  
Refined Oil ◽  
Long Run ◽  
Wind Potential ◽  
Short Run ◽  
Solar Electricity ◽  
The Impact

The global energy mix is shifting from fossil fuels to combinations of multiple energy storage and generation types. Hybrid energy system advancements provide opportunities for developing and deploying innovative green technology solutions that can further reduce emissions and achieve net-zero emissions by 2050. This study examined the impact of an increasing share of wind and solar electricity production on reducing carbon intensity by controlling coal and lignite domestic consumption and the production of refined oil products in a world aggregated data panel. Data covering the last three decades were used for the analysis by the ARDL bounds testing approach. The results showed that an increasing share of wind and solar electricity production would be helpful to decrease carbon intensity in the short and long term. On the other hand, a 1% increase in coal and domestic lignite consumption increased carbon intensity by 0.343% in the short run and 0.174% in the long run. The production of refined oil products decreases carbon intensity by 0.510% in the short run and 0.700% in the long run. However, refining oil products is associated with positive and negative environmental externalities. The positive aspect depends upon the removal of harmful pollutants and the production of cleaner-burning fuels, while the negative part is related to the operational side of refineries and processing plants that may release contaminants into the atmosphere, affecting global air and water quality. Hence, it is crucial to improve processing and refining capacity to produce better-refined oil products by using renewable fuels in energy production. It is proposed that these are the most cost-effective pathways to achieve industrial decarbonization.

scholarly journals Dynamic Relationship Between Energy and Economic Growth: Evidence from D8 Countries.

2011 ◽  
Vol 50 (4II) ◽  
pp. 437-458 ◽  
Author(s):  
Sarwat Razzaqi ◽  
Faiz Bilquees ◽  
Saadia . Sherbaz
Keyword(s):  
Economic Growth ◽  
Granger Causality ◽  
Energy Use ◽  
Demand And Supply ◽  
Dynamic Relationship ◽  
Long Run ◽  
Production And Consumption ◽  
Short Run ◽  
Oil Embargo ◽  
The Relationship

Energy sector has a vital influence on an economy, on both demand and supply sides. Therefore, energy production and consumption bear great importance for the developing world. The oil embargo of 1970‘s and its impact on major macroeconomic variables throughout the world attracted many economists to examine the relationship between energy and economic prosperity. The researchers have been unable to establish a definitive direction of causality between the two variables. The purpose of this study is to empirically investigate the dynamic relationship between energy use and economic growth in the D8 countries. The evidence gathered through application of VAR Granger Causality, Johansen Cointegration and VECM proves existence of short-run and long-run correlation between energy use and economic development in all countries. The results supported either uni-directional or bi-directional causality in the D8 countries except for Indonesia in short-run where non-causality was established between the two variables. JEL classifications: C22; Q43. Keywords: Energy Use, Economic Growth, D8, VAR Granger Causality, Cointegration, VECM

Intermediates of Open Innovation in the Aquaculture Industry

2019 ◽  
pp. 203-222 ◽  
Author(s):  
Jorge Ramos ◽  
Pedro Pousão Ferreira
Keyword(s):  
Information Technology ◽  
Knowledge Transfer ◽  
Open Innovation ◽  
Protein Production ◽  
Cultural Factors ◽  
Know How ◽  
Governmental Organizations ◽  
Production Processes ◽  
Non Governmental Organizations ◽  
Social And Cultural Factors

Aquaculture appears to be the most adequate and logical way to suit the protein production problem. Basically, because unlike fisheries that are highly unpredictable, aquaculture rearing is based upon production protocols. This chapter developed an argument supporting the above rationale. As it stands, the evidence suggests that with the current use of information technology, it becomes a common practice to exchange aquaculture knowledge between firms, research bodies, or non-governmental organizations. The interaction between the whole set of stakeholders, where a broad range of know-how and intermediate products and services are developed, generates innovation. Sharing know-how creates open innovation. Open innovation, by its turn, seeks efficiency and generates more sustainable production processes. The way knowledge transfer is delivered and its trends are dependent upon dimensions such as economic, social, and cultural factors.

scholarly journals Energy Resources, Load Coverage of the Electricity System and Environmental Consequences of the Energy Sources Operation in the Slovak Republic—An Overview

Energies ◽  
2019 ◽  
Vol 12 (9) ◽  
pp. 1701 ◽  
Author(s):  
Martin Lieskovský ◽  
Marek Trenčiansky ◽  
Andrea Majlingová ◽  
Július Jankovský
Keyword(s):  
Slovak Republic ◽  
Energy Resources ◽  
Electricity Production ◽  
Environmental Legislation ◽  
Power Sources ◽  
Environmental Consequences ◽  
Electricity System ◽  
Safety And Reliability ◽  
Minimum Requirements ◽  
The Eu

According to the current circumstances that are related to the effectiveness of the tightened European Union (EU) environmental legislation, which sets minimum requirements for the heat and power sources of energy that are part of the Slovak Electricity System (SES) source mix, an article was prepared to summarize the information regarding energy and environmental legislation, which is in force as in the EU as in Slovakia. This information was completed with a description on the current situation and requirements for the safety and reliability of the “new” mix of sources and technologies of electricity production within the SES in terms of energy and economic efficiency and environmental consequences.

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