scholarly journals Market Structure and Equilibrium in a Hydro Dominated Electricity Market

2021 ◽  
Author(s):  
◽  
Andrea Lu
Keyword(s):  
Decision Making ◽  
New Zealand ◽  
Market Structure ◽  
Resource Availability ◽  
Electricity Market ◽  
Marginal Cost ◽  
Electricity Generation ◽  
Water Usage ◽  
Gas Generation ◽  
Market Structures

<p>Hydro generation plays an important role in electricity generation, especially in countries like New Zealand where 60 to 65 percent of electricity is generated in the hydro sector. In contrast to other types of electricity generation, for example gas generation, hydro generation has two unique properties: uncertainty regarding future resource availability and the ability to store the nature resource. Although hydro resource is often considered to be ‘free’, the ability to store creates an endogenous hidden marginal cost of water: usage today entails the loss of the ability to be used in future periods. Therefore pricing in a hydro dominated electricity market should be different from the approaches applied in markets that consist of generation methods that use only non-storable resources. This paper introduces a tractable approach to model a hydro dominated electricity market that incorporates inter-temporal decision making. It enables us to compute the equilibrium outcomes and the endogenous hidden marginal cost of water under different market structures.</p>

scholarly journals Market Structure and Equilibrium in a Hydro Dominated Electricity Market

2021 ◽  
Author(s):  
◽  
Andrea Lu
Keyword(s):  
Decision Making ◽  
New Zealand ◽  
Market Structure ◽  
Resource Availability ◽  
Electricity Market ◽  
Marginal Cost ◽  
Electricity Generation ◽  
Water Usage ◽  
Gas Generation ◽  
Market Structures

<p>Hydro generation plays an important role in electricity generation, especially in countries like New Zealand where 60 to 65 percent of electricity is generated in the hydro sector. In contrast to other types of electricity generation, for example gas generation, hydro generation has two unique properties: uncertainty regarding future resource availability and the ability to store the nature resource. Although hydro resource is often considered to be ‘free’, the ability to store creates an endogenous hidden marginal cost of water: usage today entails the loss of the ability to be used in future periods. Therefore pricing in a hydro dominated electricity market should be different from the approaches applied in markets that consist of generation methods that use only non-storable resources. This paper introduces a tractable approach to model a hydro dominated electricity market that incorporates inter-temporal decision making. It enables us to compute the equilibrium outcomes and the endogenous hidden marginal cost of water under different market structures.</p>

scholarly journals Competition in Power Generation: Ex-ante Analysis of Indonesia’s Electricity Market

Energies ◽  
2020 ◽  
Vol 13 (24) ◽  
pp. 6741
Author(s):  
Dzikri Firmansyah Hakam ◽  
Sudarso Kaderi Wiyono ◽  
Nanang Hariyanto
Keyword(s):  
Power System ◽  
Market Structure ◽  
Market Power ◽  
Electricity Markets ◽  
Electricity Market ◽  
Regulatory Reform ◽  
Optimal Number ◽  
Load Flow ◽  
Utility Company ◽  
Competitive Electricity Markets

This research optimises the mix and structure of Generation Companies (GenCos) in the Sumatra power system, Indonesia. Market power, indicating the ability to raise prices profitably above the competitive level, tends to be a significant problem in the aftermath of electricity market restructuring. In the process of regulatory reform and the development of competitive electricity markets, it is desirable and practical to establish an efficient number of competitor GenCos. Simulations of a power system account for multi-plant mergers of GenCos subject to a regulatory measure of the Residual Supply Index and the influence of direct current load flow and the topology of the system. This study simulates the Sumatra power system in order to determine the following: optimal market structure, efficient GenCo generation mix, and the optimal number of competitive GenCos. Further, this study seeks to empirically optimise the electricity generation mix and electricity market structure of the Sumatra power system using DC load flow optimisation, market power index, and multi-plant monopoly analysis. The simulations include generation and transmission constraints to represent network constraints. This research is the first to analyse the Sumatra power system using imperfect (Cournot) competition modelling. Furthermore, this study is the first kind to optimise the mix and structure of the Sumatra generation power market. The guidelines and methodology in this research can be implemented in other countries characterised by a monopoly electricity utility company.

scholarly journals “What Would You Do?”: How Cat Owners Make End-of-Life Decisions and Implications for Veterinary-Client Interactions

Animals ◽  
2021 ◽  
Vol 11 (4) ◽  
pp. 1114
Author(s):  
Katherine Littlewood ◽  
Ngaio Beausoleil ◽  
Kevin Stafford ◽  
Christine Stephens
Keyword(s):  
Decision Making ◽  
New Zealand ◽  
End Of Life ◽  
Companion Animals ◽  
Chronically Ill ◽  
Future Research ◽  
End Of Life Decisions ◽  
Life Decisions ◽  
End Of Life Decision ◽  
Life Decision

Cats are the most common companion animals in New Zealand. Advances in veterinary care means that cats are living longer and there are many older cats. End-of-life decisions about cats are complicated by owner–cat relationships and other psychosocial factors. Our study explored the ways in which end-of-life decisions were being made by owners of older and chronically ill cats in New Zealand and the role of their veterinarian in the process. Qualitative data were gathered via retrospective semi-structured interviews with 14 cat owners using open-ended questions. Transcripts of these interviews were explored for themes using template analysis and nine themes were identified. Four were animal-centered themes: cat behavior change, pain was a bad sign, signs of ageing are not good, and the benefits of having other people see what owners often could not. Five were human-centered themes: veterinarians understanding owners’ relationships with their cat, normalizing death, the need for a good veterinarian to manage end of life, veterinary validation that owners were doing the right thing, and a strong desire to predict the time course and outcome for their cat. End-of-life decision making is complex, and the veterinarian’s role is often poorly defined. Our owners appreciated the expertise and validation that their veterinarian provided but continuity of care was important. Future research aimed at exploring the veterinarian’s perspective during end-of-life decision making for cats would be a valuable addition to the topic.

Long-Term Prospects of the International Wine Trade

2018 ◽  
Vol 13 (4) ◽  
pp. 442-450 ◽  
Author(s):  
Olivier Bargain ◽  
Jean-Marie Cardebat ◽  
Raphael Chiappini ◽  
Corentin Laffitte
Keyword(s):  
New Zealand ◽  
Great Emphasis ◽  
Market Structures ◽  
On Demand ◽  
The United Kingdom ◽  
Comparative Advantages ◽  
The Future ◽  
Jel Classifications ◽  
Wine Trade

AbstractThis article discusses key comparative advantages of wine-producing nations and suggest prospective views on their evolution. Our methodology is twofold. First, we study comparative advantages in 16 countries using Porter's diamond. Then, we report results from a survey in which wine economists are asked to assess the future trade performance of these countries. Results are relatively consistent across methods regarding the future “heavy weights” like China, but also New Zealand and Chile, countries show the greatest potential to succeed in the future global wine trade. It is also expected that Georgia, the United Kingdom, and Australia play an important role, although to a lesser extent. Our findings indicate that comparative advantages in wine trade are neither uniform nor static; especially, terroir is no longer sufficient. The diamond approach contradicts experts from two countries in particular, France and Argentina, suggesting that experts put great emphasis on demand and market structures as key trade determinants for the future. (JEL Classifications: F14, Q17)

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