Energy Policies: the Good, the Bad and the Ugly Using interactive technology, the EPRG explains which current energy policies (carbon prices, renewable subsidies, winter fuel payments, smart meters etc) make economic sense, which should be dropped and which will always be messy? Presentation Download Podcast available at Judge Business School Website More podcasts of the… Continue Reading
Author Archives: EPRG Admin
EPRG Festival of Ideas Event (27.10.11)
Energy Policy: Should Scientist be in Charge? The EPRG lifts the lid on the long-standing dispute between engineers and economists. Who knows best and whose contributions should be used to solve the problems of energy usage in the UK today? We look for the middle ground between the two. Audience participation though interactive voting is… Continue Reading
A Conference in Honour of the 65th birthday of Professor David M.G. Newbery
In September 2008 a special edition of the Energy Journal was produced in honour of Professor David Newbery. On the 12 and 13 September 2008 a Dinner and Conference was also held in his honour with presentations from the authors of papers in the Journal Conference Agenda Stephen Littlechild – Chairs of Applied Economics and… Continue Reading
EPRG 0902
William Yu and Michael Pollitt Does Liberalisation cause more electricity blackouts? Evidence from a global study of newspaper reports EPRG 0902 | Non-Technical Summary | PDF Abstract: There is a public perception that electricity liberalisation is the major cause of recent electricity blackouts. This is reflected in the newspaper reporting of blackouts. By contrast, it… Continue Reading
EPRG 0901
Tooraj Jamasb and Michael Pollitt Electricity Sector Liberalisation and Innovation: An Analysis of the UK Patenting Activities EPRG 0901 | Non-Technical Summary | PDF Also published in: Jamasb, T. and Pollitt, M. ‘Electricity Sector Liberalisation and Innovation: An Analysis of the UK Patenting Activities’, Research Policy Abstract: Liberalisation has had a marked effect on innovative activities… Continue Reading
EPRG 1036
François Lévêque France’s new Electricity Act: a barrier against the market and the European Union EPRG 1036 | Non-Technical Summary | PDF Abstract: This paper undertakes an ex ante assessment of the new French Electricity Act which was adopted in November 2010. This act gives EDF’s rivals access to a portion of the electricity generated… Continue Reading
EPRG 1035
Dominique Finon The Efficiency of Policy Instruments for the Deployment of CCS as a Large-sized Technology EPRG 1035 | Non-Technical Summary | PDF Abstract: This paper analyses a set of policy instruments designed to support investment during the learning phase of CCS technology, following the demonstration stage. The focus is on specific barriers to learning… Continue Reading
EPRG 1034
Aoife Brophy Haney, Tooraj Jamasb, Laura M. Platchkov, Michael G. Pollitt Demand-side Management Strategies and the Residential Sector: Lessons from International Experience EPRG 1034 | Non-Technical Summary | PDF Abstract: This paper explores demand side management (DSM) strategies, including both demand response and energy efficiency policies. The aim is to uncover what features might strengthen… Continue Reading
EPRG 1033
Vladimir Parail Properties of Electricity Prices and the Drivers of Interconnector Revenue EPRG 1033 | Non-Technical Summary | PDF Abstract: This paper examines the drivers behind revenues of merchant electricity interconnectors and the effect of arbitrage trading over interconnectors on the level and volatility of electricity prices in the connected markets. It sets out a… Continue Reading
EPRG 1032
Tim Laing and Michael Grubb Low Carbon Electricity Investment: The Limitations of Traditional Approaches and a Radical Alternative EPRG 1032 | Non-Technical Summary | PDF Abstract: Moving to a very low carbon electricity system is central to meeting the goals of UK energy policy, and indeed to the wider global challenge of tackling climate change.… Continue Reading
EPRG 1031
Florent Silve and Pierre Noël Cost Curves for Gas Supply Security: The Case of Bulgaria EPRG 1031 | Non-Technical Summary | PDF Abstract: We evaluate the cost-effectiveness of various policy options and infrastructure investment proposals to improve the security of gas supply in Bulgaria, one of the most gas insecure countries in the European Union.… Continue Reading
EPRG 1030
Aoife Brophy Haney and Michael G. Pollitt New Models of Public Ownership in Energy EPRG 1030 | Non-Technical Summary | PDF Abstract: This paper discusses some of the new and continuing ways in which the public sector is involved in the electricity / energy sector around the world. This involvement continues to be significant in… Continue Reading
EPRG 1029
Aurélie Méjean and Chris Hope The Effect of CO2 Pricing on Conventional and Non-Conventional Oil Supply and Demand EPRG 1029 | Non-Technical Summary | PDF Abstract: What would be the effect of CO2 pricing on global oil supply and demand? This paper introduces a model describing the interaction between conventional and non-conventional oil supply in… Continue Reading
EPRG 1028
Helena Meier Health Satisfaction and Energy Spending EPRG 1028 | Non-Technical Summary | PDF Abstract: This study explores the link between energy spending and health satisfaction. We aim to show that energy spending is a driver of health satisfaction and therefore of the overall quality of life of individuals. This has important implications for policy… Continue Reading
EPRG 1027
Tooraj Jamasb, Luis Orea and Michael G. Pollitt Estimating Marginal Cost of Quality Improvements: The Case of the UK Electricity Distribution Companies EPRG 1027 | Non-Technical Summary | PDF Abstract: The main aim of this paper is to develop an econometric approach to estimation of marginal costs of improving quality of service. We implement this… Continue Reading
EPRG 1026
Chi Kong Chyong, Pierre Noёl and David M. Reiner The Economics of the Nord Stream Pipeline System EPRG 1026 | Non-Technical Summary | PDF Abstract: We calculate the total cost of building Nord Stream and compare its levelised unit transportation cost with the existing options to transport Russian gas to western Europe. We find that… Continue Reading
EPRG 1025
Christian Growitsch, Tooraj Jamasb, and Heike Wetzel Efficiency Effects of Quality of Service and Environmental Factors: Experience from Norwegian Electricity Distribution EPRG 1025 | Non-Technical Summary | PDF Also published in: Growitsch, C, Jamasb, T & Wetzel, H (2012) “Efficiency effects of observed and unobserved heterogeneity: Evidence from Norwegian electricity distribution networks”. Energy Economics Volume… Continue Reading
EPRG 1024
Thomas P. Triebs, Michael G. Pollitt and John E. Kwoka The Direct Costs and Benefits of US Electric Utility Divestitures Note: This Working Paper has been superseded by EPRG WP #1525. Continue Reading
EPRG 1023
David M Newbery Oil Shortages, Climate Change and Collective Action EPRG 1023 | Non-Technical Summary | PDF | Appendix Also published in: Philosophical Transactions of Royal Society Publishing A, 13 May 2011 vol. 369 (1942), pp1748-1761 – Text Abstract: Concerns over future oil scarcity might not be so worrying but for the high carbon content of… Continue Reading
EPRG 1022
Harry van der Weijde and Benjamin F. Hobbs Locational-based Coupling of Electricity Markets: Benefits from Coordinating Unit Commitment and Balancing Markets EPRG 1022 | Non-Technical Summary | PDF Also published in: Journal of Regulatory Economics, June 2011, vol.39 (3), pp 223-251 Abstract: We formulate a series of stochastic models for committing and dispatching electric generators… Continue Reading
EPRG 1021
Thomas P. Triebs and Michael G. Pollitt Ownership and competition: Finding Performance Breaks for Great Britain’s Power Plants Continue Reading
EPRG 1020
Tooraj Jamasb, Luis Orea, Michael G. Pollitt Weather Factors and Performance of Network Utilities: A Methodology and Application to Electricity Distribution EPRG 1020 | Non-Technical Summary | PDF Abstract: Incentive regulation and efficiency analysis of network utilities often need to take the effect of important external factors, such as the weather conditions, into account. This… Continue Reading
EPRG 1019
Andreas Ehrenmann and Yves Smeers Stochastic Equilibrium Models for Generation Capacity Expansion EPRG 1019 | Non-Technical Summary | PDF Abstract: Capacity expansion models in the power sector were among the first applications of operations research to the industry. We introduce stochastic equilibrium versions of these models that we believe provide a relevant context for looking… Continue Reading
EPRG 1018
Michel-Alexandre Cardin, Steven J. Steer, William J. Nuttall, Geoffrey T. Parks, Leonardo V.N. Gonçalves, Richard de Neufville Minimizing the Cost of Innovative Nuclear Technology Through Flexibility: The Case of a Demonstration Accelerator-Driven Subcritical Reactor Park EPRG 1018 | Non-Technical Summary | PDF | Cost Model Abstract: Presented is a methodology to analyze the expected Levelised… Continue Reading
EPRG 1017
Stephen Littlechild The Creation of a Market for Retail Electricity Supply EPRG 1017 | Non-Technical Summary | PDF Also published in: Stephen Littlechild, (2010). “The Creation of a Market for Retail Electricity Supply,” RSCAS Working Papers 2010/57, European University Institute Abstract: In September 1989, as part of its privatization program, the Government laid down an… Continue Reading
EPRG 1016
Yves Smeers, Giorgia Oggioni, Elisabetta Allevi and Siegfried Schaible Generalized Nash Equilibrium and Market Coupling in the European Power System EPRG 1016 | Non-Technical Summary | PDF Abstract: “Market Coupling” is currently seen as the most advanced market design in the restructuring of the European electricity market. Market coupling, by construction, introduces what is generally… Continue Reading
EPRG 1015
Jevgenijs Steinbuks Interfuel Substitution and Energy Use in the UK Manufacturing Sector EPRG 1015 | Non-Technical Summary | PDF Abstract: This paper investigates interfuel substitution in the UK manufacturing sector. Econometric models of interfuel substitution are applied to energy inputs aggregated by their energy use, and separately for thermal heating processes, where interfuel substitution is… Continue Reading
EPRG 1014
Lin Fan, Benjamin F. Hobbs and Catherine S. Norman Risk Aversion and CO2 Regulatory Uncertainty in Power Generation Investment: Policy and Modeling Implications EPRG 1014 | Non-Technical Summary | PDF Abstract: Our simulation considers producers in a competitive energy market. Risk averse producers face uncertainty about future carbon regulation. Investment decisions are a two-stage equilibrium… Continue Reading
EPRG 1013
Steven J. Steer, Michel-Alexandre Cardin, William J. Nuttall, Geoffrey T. Parks and Leonardo V. N. Gonçalves Hedging Against Technology Risks of the Accelerator System of a First-of-a-Kind Accelerator-Driven Subcritical Reactor EPRG 1013 | Non-Technical Summary | PDF Abstract: Demonstrating the generation of electricity with Accelerator-Driven Subcritical Reactor (ADSR) technology will incur substantial financial risk both… Continue Reading
EPRG 1012
Aoife Brophy Haney and Michael G.Pollitt Exploring the Determinants of “best practice” in Network Regulation: The Case of the Electricity Industry EPRG 1012 | Non-Technical Summary | PDF Also published in: Brophy Haney, A & Pollitt, M (2011) “Exploring the Determinants of “best practice” in Network Regulation: The Case of the Electricity Industry”, Energy Policy… Continue Reading
EPRG 1011
David M. Newbery A Nuclear Future? UK Government Policy and the Role of the Market EPRG 1011 | Non-Technical Summary | PDF Also published in: Economic Affairs 30 (2) 2010, 21-27. Available at Wiley InterScience Abstract: Meeting carbon targets requires decarbonising electricity. The least cost strategy involves nuclear power. In a liberalised electricity market, the… Continue Reading
EPRG 1010
Benjamin F. Hobbs, James Bushnell and Frank A. Wolak Upstream vs. Downstream CO2 Trading: A Comparison for the Electricity Context EPRG 1010 | Non-Technical Summary | PDF Abstract: In electricity, “downstream” CO2 regulation requires retail suppliers to buy energy from a mix of sources so that their weighted emissions satisfy a standard. It has been… Continue Reading
EPRG 1009
Karim L. Anaya The Restructuring and Privatisation of the Peruvian Electricity Distribution Market EPRG 1009 Abstract | Non-Technical Summary | PDF Continue Reading
EPRG 1008
Sachi Findlater and Pierre Noël Gas Supply Security in the Baltic States: A Qualitative Assessment EPRG 1008 | Non-Technical Summary | PDF Also published in: International Journal of Energy Sector Management 4 (2) 2010, 236-255. Available from Emerald Abstract: In a setting of increasing European concern over gas supply security, this article provides an empirical… Continue Reading
EPRG 1007
Pär Holmberg and David Newbery The supply function equilibrium and its policy implications for wholesale electricity auctions EPRG 1007 | Non-Technical Summary | PDF Also published in: Holmberg, P. and Newbery, D. M. (2010), “The Supply Function Equilibrium and its Policy Implications for Wholesale Electricity Auctions”, Utilities Policy 18(4), pp 209-226 | Text Abstract: The… Continue Reading
EPRG 1006
Jevgenijs Steinbuks and Karsten Neuhoff Operational and Investment Response to Energy Prices in the OECD Manufacturing Sector EPRG 1006 | Non-Technical Summary | PDF Abstract: This paper estimates the vintage capital model of energy demand and examines operational and investment responses to energy prices at disaggregate level using data from five OECD manufacturing industries. Applying… Continue Reading
EPRG 1005
Aurélie Méjean and Chris Hope Supplying Synthetic Crude Oil from Canadian Oil Sands: A Comparative Study of the Costs and CO2 Emissions of Mining and In-situ Recovery EPRG 1005 | Non-Technical Summary | PDF Abstract: High crude oil prices and the eventual decline of conventional oil production raise the issue of alternative fuels such as… Continue Reading
EPRG 1004
Tim Laing and Michael Grubb The Impact of Instrument Choice on Investment in Abatement Technologies: A Case Study of Tax versus Trade Incentives for CCS and Biomass for Electricity EPRG 1004 | Non-Technical Summary | PDF Abstract: There has been a wide discussion on the different properties between carbon taxes, cap-and-trade schemes and hybrid instruments… Continue Reading
EPRG 1003
Tooraj Jamasb and Helena Meier Household Energy Expenditure and Income Groups: Evidence from Great Britain EPRG 1003 | Non-Technical Summary | PDF Abstract: Household energy use is increasingly important in the context of fuel poverty and the equity debate as well as in relation to energy saving and efficiency policies. We first explore the link… Continue Reading
EPRG 1002
Michael G. Pollitt UK Renewable Energy Policy Since Privatisation EPRG 1002 | Non-Technical Summary | PDF Also published in: Pollitt, M. “UK Renewable Energy Policy Since Privatisation”, chapter in “Harnessing Renewable Energy in Electric Power Systems: Theory, Practice, Policy” Moselle, Boaz, Padilla, Jorge and Schmalensee, Richard pages 253-283 Abstract: The aim of this paper is… Continue Reading
EPRG 1001
Anupama Sen and Tooraj Jamasb The Economic Effects of Electricity Deregulation: An Empirical Analysis of Indian States EPRG 1001 | Non-Technical Summary | PDF Abstract: As developing countries seek to improve their economic prospects, electricity reform has been widely viewed as a central part of this effort. While the focus of most research to date… Continue Reading
EPRG 1129
William Nuttall and Peter Storey Technology and Policy Issues Relating to Future Developments in Research and Radioisotope Production Reactors Also published in Progress in Nuclear Energy, Volume 77, November 2014, Pages 201-213 EPRG 1129 Abstract | Non-Technical Summary | PDF Continue Reading
EPRG 1126
David Newbery Reforming Competitive Electricity Markets to Meet Environmental Targets EPRG 1126 | Non-Technical Summary | PDF Abstract: The UK and other EU countries are concerned to deliver secure, sustainable and affordable electricity, to meet challenging targets for decarbonisation and renewable energy. The UK Government has consulted and concluded that the present electricity market arrangements… Continue Reading
EPRG 1125
Michael G. Pollitt Lessons from the History of Independent System Operators in the Energy Sector, with applications to the Water Sector EPRG 1125 | Non-Technical Summary | PDF Abstract: This paper examines the lessons from independent transmission system operators in energy in the context of the potential introduction of an independent system operator in the… Continue Reading
EPRG 1124
Michael G. Pollitt and Stephen J. Steer Economies of Scale and Scope in Network Industries: Lessons for the UK water and sewerage sectors EPRG 1124 | Non-Technical Summary | PDF Abstract: Many studies of the water and sewerage industries place significant importance on the benefits of economies of scale and scope and how these relate… Continue Reading
EPRG 1123
Christian Winzer Conceptualising Energy Security EPRG 1123 | Non-Technical Summary | PDF Abstract: Energy security is one of the main targets of energy policy. However, the term has not been clearly defined, which makes it hard to measure and difficult to balance against other policy objectives. We review the multitude of definitions of energy security.… Continue Reading
EPRG 1122
Laura Platchkov, Michael G. Pollitt, David Reiner, Irina Shaorshadze 2010 EPRG Public Opinion Survey: Policy Preferences and Energy Saving Measures EPRG 1122 | Non-Technical Summary | PDF Abstract: This paper presents results of the 2010 Electricity Policy Research Group (EPRG) public opinion survey. The survey examines the energy policy preferences and attitudes of the British… Continue Reading
EPRG 1121
Rabindra Nepal and Tooraj Jamasb Market Integration, Efficiency, and Interconnectors: The Irish Single Electricity Market EPRG 1121 | Non-Technical Summary | PDF Abstract: Interconnections can be an effective way to increase competition in wholesale electricity markets in particular for smaller markets with few actors. This paper quantitatively examines the potentials for interconnections in the Irish… Continue Reading
EPRG 1120
David Newbery Contracting for wind generation EPRG1120 | Non-Technical Summary | PDF Also published in: Economics of Energy & Environmental Policy , 1(2) EPRG 1120 Abstract: The UK Government proposes offering long-term Feed-in-Tariffs (FiTs) to low-carbon generation to reduce risk and encourage new entrants. Their preference is for a Contract-for-Difference (CfD) or a premium FiT… Continue Reading
EPRG 1119
Stephen Littlechild Regulation, customer protection and customer engagement EPRG 1119 | Non-Technical Summary | PDF Abstract: The UK utility regulation framework developed in the 1980s was intended to improve on the restrictive, inefficient and burdensome regulatory approach in the US. But the UK regulatory process has itself now become increasingly burdensome. Meanwhile, utilities and customer… Continue Reading