Energy Economics最新文献

The predictive content of U.S. Energy Information Administration oil market forecasts 美国能源情报署石油市场预测的预测内容

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-25 DOI: 10.1016/j.eneco.2026.109214

Anthony Garratt , Ivan Petrella , Yunyi Zhang

引用次数: 0

Deep-learning-based optimal auction design in electricity markets 基于深度学习的电力市场最优竞价设计

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-10 DOI: 10.1016/j.eneco.2026.109176

Valentina Cepeda , Juan F. Pérez

{"title":"Deep-learning-based optimal auction design in electricity markets","authors":"Valentina Cepeda , Juan F. Pérez","doi":"10.1016/j.eneco.2026.109176","DOIUrl":"10.1016/j.eneco.2026.109176","url":null,"abstract":"<div><div>Auctions are widely used in electricity markets as a mechanism for central operators to ensure demand is satisfied in a cost-effective manner. Recently, the <em>RegretNet</em> framework has been proposed to tackle the optimal auction design problem with a deep learning approach. In this paper, we extend this framework to discover nearly optimal designs for electricity auctions. This is achieved by: (i) altering the neural network architecture to determine the <em>number of units</em> to allocate and to incorporate <em>demand constraints</em>; (ii) representing the information rent as part of the generator’s cost to capture <em>individual rationality</em>; (iii) introducing unbounded profit functions to handle capacity constrained generators; (iv) relaxing the learning problem to handle the <em>capacity</em> and <em>incentive compatibility</em> constraints; and (v) augmenting the constraints in the learning problem to handle correlated unit-costs. These extensions enable us to consider: (i) uncertain capacity and demand, possibly due to supply failures or wind–solar integration; (ii) correlated unit costs, caused by seasonal effects or shocks; and (iii) heterogeneous multi-time slot dispatch, capturing time-varying generation costs. Through experimentation we demonstrate that the method is able to recover known analytical solutions, achieving precise cost-level approximations (with errors <span><math><mrow><mo><</mo><mn>1</mn><mtext>%</mtext></mrow></math></span>) and minimal constraint violations (<span><math><mrow><mo>≤</mo><mn>0</mn><mo>.</mo><mn>001</mn></mrow></math></span>). Finally, we employ the method to assess the effect of renewable power integration in the Colombian wholesale electricity market. These results highlight the ability of the method to support the design of electricity markets considering the technical characteristics of the generators, the uncertainty around their capacities and costs, as well as their strategic behavior.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109176"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146152670","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Electric vehicles to the grid: Costs, benefits, and pricing mechanisms 电动汽车并网：成本、收益和定价机制

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-10 DOI: 10.1016/j.eneco.2026.109200

Xuhao Zhan , Bowei Guo

{"title":"Electric vehicles to the grid: Costs, benefits, and pricing mechanisms","authors":"Xuhao Zhan , Bowei Guo","doi":"10.1016/j.eneco.2026.109200","DOIUrl":"10.1016/j.eneco.2026.109200","url":null,"abstract":"<div><div>Decarbonizing the transportation sector is essential for meeting global climate targets. However, transportation electrification imposes substantial costs on power systems. This study develops a novel data-driven approach that leverages comprehensive grid measurement data to quantify these costs, referred to here as <em>social costs</em>. The results indicate that advancements in power transfer technologies, particularly vehicle-to-grid (V2G) integration, can substantially reduce social costs and, in some cases, generate net social benefits. When the proposed method is applied to two regions in China with contrasting power system characteristics, V2G leads to significant reductions in social costs in both low (Guangdong) and high (Gansu) renewable penetration regions. The reduction is greater in Gansu, primarily driven by a stronger decline in capacity investment costs, reflecting the greater reliance of high-renewable power systems on dispatchable capacity. Based on the estimated social costs, we propose a pricing mechanism to enable economically efficient V2G integration, demonstrating the first-best market-based mechanism and the second-best direct-pricing mechanism.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109200"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146152671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Large scale renewable energy deployment reduces regional economic inequality:Evidence from China 大规模可再生能源部署减少区域经济不平等：来自中国的证据

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-01 DOI: 10.1016/j.eneco.2026.109168

Qiang Tu , Limei Zuo , Jianlei Mo , Yaming Ma , Ye Yao , Qi Su

{"title":"Large scale renewable energy deployment reduces regional economic inequality:Evidence from China","authors":"Qiang Tu , Limei Zuo , Jianlei Mo , Yaming Ma , Ye Yao , Qi Su","doi":"10.1016/j.eneco.2026.109168","DOIUrl":"10.1016/j.eneco.2026.109168","url":null,"abstract":"<div><div>The 17 Sustainable Development Goals (SDGs) proposed in the 2030 Agenda for Sustainable Development includes ensuring access to sustainable modern energy, as well as reducing inequality within countries. These goals may interact with each other, but research examining the impact of renewable energy deployment on economic inequality remains limited. To fill this gap, we estimate a city-level Dagum Gini coefficient from county-level nighttime lights to measure regional economic inequality, providing a production-side proxy with fine spatial resolution. And the difference-in-difference (DID) model is utilized in this study to identify the impact of renewable energy deployment on regional economic inequality, using a unique full sample dataset of China's renewable energy projects from 2001 to 2020. The empirical results indicate that the renewable energy deployment reduces regional economic inequality. Specifically, for every 1 GW of biomass and solar PV deployed in a city, the Gini coefficient is reduced by approximately 0.038–0.064 and 0.018–0.020, respectively, while wind energy deployment seems to have minimal impact on regional economic inequality. This study further confirms that the promotion of rural employment and the upgrading of the industrial structure are key mechanisms through which renewable energy deployment contributes to reducing regional economic inequality. Furthermore, increased investment in education and improved transport infrastructure would enhance the effect of renewable energy deployment on reducing regional economic inequality. Consequently, this research offers valuable insights for the strategic deployment of renewable energy not only in China and other developing countries but also for policy makers endeavoring to create policy synergies aligned with the SDGs.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109168"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147385548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Monetary policy and energy installation: Implications for the European green transition 货币政策与能源装置：对欧洲绿色转型的启示

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-03 DOI: 10.1016/j.eneco.2026.109159

Alexandra Serebriakova (Sasha) , Friedemann Polzin , Mark Sanders

{"title":"Monetary policy and energy installation: Implications for the European green transition","authors":"Alexandra Serebriakova (Sasha) , Friedemann Polzin , Mark Sanders","doi":"10.1016/j.eneco.2026.109159","DOIUrl":"10.1016/j.eneco.2026.109159","url":null,"abstract":"<div><div>Policymakers have raised concerns that the required transition to renewable energy sources in the European Union could be stalled by a period of higher ECB policy rates meant to combat inflation. Prior research shows heterogeneous effects of policy rates on sectors with varying industrial characteristics, meaning that renewable technologies may be hit disproportionately by monetary contractions due to their investment requirements, life-cycle stage, and/or dependence on external finance. This paper uses fixed effects panel analysis of 28 European countries to look at the interactions between installed capacity of 10 utility-scale energy technologies, their characteristics, and monetary policy. Over the period of 2001–2024, fossil fuel, hydropower and nuclear technologies remained unaffected by monetary contractions, while a 25 basis point rise in policy rates was associated with a 3.2% decrease in total installed capacity for onshore wind, and a 5.3% decrease for solar PV. Significant interaction effects, using measures of investment intensity and external finance dependence for energy technologies, yield evidence in favour of the interest rate and balance sheet channels of monetary policy transmission. To address endogeneity concerns, we use a two-stage least squares (2SLS) approach in an LCOE specification for the interest rate channel in the energy sector, which confirms these findings. Our results suggest the existence of an unintended bias in contractionary monetary operations; central banks should consider flanking policies (such as preferred interest rates) to offset the disadvantage for renewables.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109159"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146111041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Corrigendum to “Cross-border cannibalization: Spillover effects of wind and solar energy on interconnected European electricity markets” [Energy Economics, 143, March 2025, 108251] “跨境蚕食：风能和太阳能对互联欧洲电力市场的溢出效应”的勘误表[能源经济，143,March 2025, 108251]

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-06 DOI: 10.1016/j.eneco.2026.109167

Clemens Stiewe , Alice Lixuan Xu , Anselm Eicke , Lion Hirth

引用次数: 0

Sovereign green bonds: Risk-mitigating sustainability instruments in emerging markets 主权绿色债券：新兴市场降低风险的可持续性工具

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-06 DOI: 10.1016/j.eneco.2026.109173

Vedanshi Nevatia

{"title":"Sovereign green bonds: Risk-mitigating sustainability instruments in emerging markets","authors":"Vedanshi Nevatia","doi":"10.1016/j.eneco.2026.109173","DOIUrl":"10.1016/j.eneco.2026.109173","url":null,"abstract":"<div><div>Sovereign green bonds have emerged as a prominent policy instrument to mobilize climate finance, yet evidence on their pricing implications, especially across development levels and relative to unlabeled sustainability bonds, remains limited. This study provides the first global, bond-level analysis of sovereign green and sustainability bond pricing in secondary markets across advanced and emerging economies. Using Bloomberg data on 168 sovereign sustainability bonds issued between 2017 and 2023 across 44 countries, the analysis employs coarsened exact matching to estimate the <em>greenium</em> for green-labeled as well as unlabeled bonds. The results reveal strong regional heterogeneity. In advanced economies, sovereign green bonds trade at a positive yield premium of 20–40 basis points. In contrast, EMDEs exhibit a significant sovereign <em>greenium</em> of approximately 10 basis points for green-labeled bonds, alongside a positive premium for unlabeled sustainability bonds. This suggests that green labeling is associated with lowered perceived risk and informational asymmetry. This is especially true for riskier countries, speculative-grade bonds, and during periods of financial volatility. Overall, the results highlight that while sovereign green bonds may act as effective risk-mitigating instruments for climate finance in emerging economies, institutional heterogeneity and market structures have a role to play in shaping sustainability bond issuances.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109173"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146135454","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Energy Poverty has a justice dimension: Comparing Bolivia, Côte d’Ivoire and France 能源贫困有一个公正的维度：比较玻利维亚、Côte科特迪瓦和法国

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-17 DOI: 10.1016/j.eneco.2026.109209

Anna Creti , Alpha Ly , Maria-Eugenia Sanin

{"title":"Energy Poverty has a justice dimension: Comparing Bolivia, Côte d’Ivoire and France","authors":"Anna Creti , Alpha Ly , Maria-Eugenia Sanin","doi":"10.1016/j.eneco.2026.109209","DOIUrl":"10.1016/j.eneco.2026.109209","url":null,"abstract":"<div><div>Energy poverty is a multidimensional issue, as demonstrated by a comparison between two low-income countries, Bolivia (BOL) and Côte d’Ivoire (CIV), and a high-income European country, France (FRA). These three countries represent different stages of access and energy poverty. CIV lags behind BOL and FRA in electricity access but still contends with energy poverty. However, both BOL and CIV face significant energy affordability issues, leading to widespread energy poverty. Moreover, BOL and CIV have very low access to clean cooking, while BOL has achieved universal access to electricity, similar to FRA. This study examines the socio-economic determinants of access to energy infrastructure, energy services, and energy poverty. It finds that as the share of households with access to energy and services increases, the likelihood of an energy poverty trap also rises. The energy-poverty gap, which is the total cash transfer needed to address energy poverty, is higher in BOL and FRA compared to CIV due to higher average energy expenditures and a larger number of energy-poor households. Using clustering techniques, our study identifies the socio-demographic profiles of the most vulnerable households. Targeting these groups is shown to be more effective in bridging the energy poverty gap. Our findings highlight the importance of considering affordability in efforts to ensure universal energy access, to prevent further exclusion, and promote energy justice.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109209"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147278524","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Score-driven global climate zones from 1940 to 2024: A new objective climate classification method 1940 - 2024年评分驱动的全球气候带：一种新的客观气候分类方法

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-19 DOI: 10.1016/j.eneco.2026.109203

Szabolcs Blazsek , Álvaro Escribano , Erzsébet Kristóf

{"title":"Score-driven global climate zones from 1940 to 2024: A new objective climate classification method","authors":"Szabolcs Blazsek , Álvaro Escribano , Erzsébet Kristóf","doi":"10.1016/j.eneco.2026.109203","DOIUrl":"10.1016/j.eneco.2026.109203","url":null,"abstract":"<div><div>We employ a novel score-driven climate clustering model to analyze global climate change from January 1940 to December 2024. This model dynamically reclassifies global geographic locations using climate variables from ERA5, which is the fifth-generation reanalysis from the European Centre for Medium-Range Weather Forecasts (ECMWF). The dataset includes monthly data from 930 uniformly distributed locations worldwide, covering eight variables: air temperature at 2 m, dew point temperature at 2 m, mean sea level pressure, eastward component of the 10-meter wind, northward component of the 10-meter wind, 10-meter wind gust, total precipitation, and downward short-wave solar radiation flux at the Earth’s surface. Our climate clustering model is a multivariate, score-driven, multi-regime-switching framework that analyzes the conditional mean and covariance matrix of these climate variables. It specifies a dynamic transition probability matrix for the different climate regimes, effectively representing climate clusters. We estimate the transition, filtered, and predictive probabilities for each climate regime. We focus on five distinct climate clusters. We present the evolution of the predictive probabilities for these clusters across various geographic locations experiencing observable climate change. Additionally, we explore alternative data and model specifications, guided by the feasibility of statistical estimation. Our findings include an annual analysis of 110 uniformly distributed locations worldwide for two variables: air and dew point temperatures at 2 m. The results indicate several geographic locations in both the Northern and Southern Hemispheres that transition to higher temperature clusters throughout the sample period.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"156 ","pages":"Article 109203"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146778073","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Demand response control structure in imperfectly competitive power markets: Independent or integrated? 不完全竞争电力市场的需求响应控制结构：独立还是整合？

IF 14.2 2区经济学

Energy Economics Pub Date : 2026-03-01 Epub Date: 2026-02-11 DOI: 10.1016/j.eneco.2026.109195

Julien Ancel

{"title":"Demand response control structure in imperfectly competitive power markets: Independent or integrated?","authors":"Julien Ancel","doi":"10.1016/j.eneco.2026.109195","DOIUrl":"10.1016/j.eneco.2026.109195","url":null,"abstract":"<div><div>This article investigates different types of actors controlling demand response (DR) operations under Cournot competition. Analytical results linking shiftable load level, market equilibrium, and welfare are obtained for DR operated either by an independent aggregator (price-taker or price-maker), by end-consumers’ suppliers, or within the portfolio of generators. An application to a 2035 French power system with detailed flexible appliances constraints is also proposed. Results show that supplier-integrated DR yields the greatest price reductions and lowest shiftable load withholding, while DR integrated with baseload producers has the weakest effects on prices and may worsen welfare losses compared to a perfectly competitive market. While DR deployment consistently improves welfare and lowers prices, the extent depends on the control structure. Independent aggregation and supplier integration deliver similar welfare gains but shift surplus toward consumers, whereas integration within generators results in up to a 6€/MWh higher producer surplus compared to the other structures. Policy implications highlight the importance of DR deployment overall but caution against DR integration exclusively within baseload generators’ portfolios due to limited market benefits.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"155 ","pages":"Article 109195"},"PeriodicalIF":14.2,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146160352","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0