Energy Economics最新文献_第9页

Evaluating the energy ecological efficiency under the context of interregional power transmission in China 中国跨区域输电背景下的能源生态效率评价

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-29 DOI: 10.1016/j.eneco.2025.108866

Zhixiang Zhou , Yannan Li , Chien-Chiang Lee

{"title":"Evaluating the energy ecological efficiency under the context of interregional power transmission in China","authors":"Zhixiang Zhou , Yannan Li , Chien-Chiang Lee","doi":"10.1016/j.eneco.2025.108866","DOIUrl":"10.1016/j.eneco.2025.108866","url":null,"abstract":"<div><div>Against the backdrop of extensive interregional power transmission in China, adjusting power distribution patterns emerges as a crucial avenue for regulating carbon emissions and attaining ecological efficiency for energy utilization. Based on the actual situations of power departments in provinces across China, this paper constructs an advanced data envelopment analysis (DEA) approach by considering the shift in emissions from power transmission and its consequential effects on efficiency values. It aims to assess the phased energy ecological efficiency under current power distribution patterns and technological conditions, calculate the potential for carbon emissions reductions, and scrutinize the factors that influence the efficiency scores. The empirical research presented in the present paper leverages a dataset encompassing statistical data from 30 provinces across China during 2017 to 2021, yielding four findings: (1) the West–East power transmission model in China essentially shifts carbon emissions to western regions at the expense of economic development in eastern regions; (2) the Chinese power system needs to adjust its existing power distribution patterns to lower current carbon emissions levels; (3) harnessing the southwest regions' clean energy assets through power distribution transfers can reduce carbon emissions by approximately 7.4 %; (4) energy prices have a significantly negative impact on power efficiency, as indicated by the empirical results of factor analysis. This last finding has implications for policymakers, suggesting that power efficiency can be enhanced by lowering energy prices.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"150 ","pages":"Article 108866"},"PeriodicalIF":14.2,"publicationDate":"2025-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144932566","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

The price of flexibility in electricity markets 电力市场灵活性的代价

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-29 DOI: 10.1016/j.eneco.2025.108769

Subhojit Biswas , Bahar Çavdar , Alfredo Garcia , Joseph Geunes

{"title":"The price of flexibility in electricity markets","authors":"Subhojit Biswas , Bahar Çavdar , Alfredo Garcia , Joseph Geunes","doi":"10.1016/j.eneco.2025.108769","DOIUrl":"10.1016/j.eneco.2025.108769","url":null,"abstract":"<div><div>Electricity markets differ in the flexibility they have in meeting power imbalances on short notice in a controlled fashion. Flexible markets can adjust operations to absorb random disruptions in power generation or demand. However, in markets with energy-only trading, where the producers are compensated only based on the energy delivered but not necessarily produced, there is no explicit remuneration for this flexibility. We argue that in such markets, flexibility is <em>implicitly</em> priced via persistent premiums in the day-ahead market (i.e., a positive average difference between day-ahead and real-time prices). Specifically, we develop a stylized game-theoretic model to characterize day-ahead premiums in equilibrium when the market is subject to the risk of a significant but low-probability disruption. Although arbitrageurs can reduce persistent day-ahead premiums by selling in the day-ahead market and buying in real-time, this strategy carries substantial downside risk, which ultimately curtails their trading activity in equilibrium. Consequently, flexible generators exert market power by limiting their committed production in the day-ahead market. While persistent day-ahead premiums incentivize more flexible resources (e.g., battery storage capacity), it is not clear that they constitute an economically efficient incentive mechanism for increasing flexibility.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"150 ","pages":"Article 108769"},"PeriodicalIF":14.2,"publicationDate":"2025-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144916920","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

Agriculture, electrification and gendered time use in rural Bangladesh 孟加拉国农村的农业、电气化和性别时间使用

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-29 DOI: 10.1016/j.eneco.2025.108827

Tanu Gupta , Md. Tajuddin Khan , Digvijay Singh Negi

引用次数: 0

Deregulation as a catalyst: Market access reforms and corporate ESG in China 放松管制作为催化剂：中国市场准入改革与企业ESG

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-28 DOI: 10.1016/j.eneco.2025.108863

Guanglai Zhang , Yuwen Li , Ning Zhang , Hao Zeng

引用次数: 0

Comparing designs for resource adequacy in laboratory electricity markets 比较实验室电力市场资源充足的设计

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-28 DOI: 10.1016/j.eneco.2025.108831

Jiaxing Wu , Chiara Lo Prete , Rong Rong , Burçin Ünel , Feng Zhu

{"title":"Comparing designs for resource adequacy in laboratory electricity markets","authors":"Jiaxing Wu , Chiara Lo Prete , Rong Rong , Burçin Ünel , Feng Zhu","doi":"10.1016/j.eneco.2025.108831","DOIUrl":"10.1016/j.eneco.2025.108831","url":null,"abstract":"<div><div>We compare generation capacity investment and unserved energy in experimental electricity markets under three designs: (1) an energy-only market serving as baseline, (2) an energy-only market with scarcity pricing where firms earn revenues from the provision of an additional product, reserves, and (3) a capacity market that rewards capacity investment and is followed by an energy-only market. Subjects in the experiments act as firms, choosing generation capacity and competing to meet electricity demand in the market. Based on simulation results from complementarity-based equilibrium models, our predictions suggest that an energy-only market incentivizes the lowest capacity investment, which is insufficient to satisfy peak electricity demand. Further, we expect the capacity market to promote more investment than the energy-only market with scarcity pricing, avoiding unserved energy across all demand scenarios. In contrast, the energy-only market with scarcity pricing experiences unserved energy during peak demand periods. In line with the predictions, we find that the experimental baseline leads to insufficient capacity investment to meet peak demand. The alternative designs encourage additional capacity investment, with firms in the capacity market generally investing in more generation capacity. Yet, both alternative designs are unable to satisfy peak electricity demand because their additional capacity falls short of expected levels. Further, unserved energy is reduced, but results are not statistically different under the alternative designs.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"150 ","pages":"Article 108831"},"PeriodicalIF":14.2,"publicationDate":"2025-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145045094","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

Climate change and labor demand adjustment: Evidence from recruitment 气候变化与劳动力需求调整：来自招聘的证据

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-28 DOI: 10.1016/j.eneco.2025.108854

Fanglin Chen , Jie Zhang

{"title":"Climate change and labor demand adjustment: Evidence from recruitment","authors":"Fanglin Chen , Jie Zhang","doi":"10.1016/j.eneco.2025.108854","DOIUrl":"10.1016/j.eneco.2025.108854","url":null,"abstract":"<div><div>The impact of extreme heat on the labor market has been widely discussed, yet few studies have examined it from the perspective of labor demand of enterprises. Using city-level annual data from China spanning 2014 to 2020, this paper estimates the effect of extreme heat on enterprise labor demands. The empirical results indicate that increases in extreme heat significantly reduce the number of workers firms hire. We identify two potential channels underlying this effect: changes in firm costs and firm-level adaptation behaviors. Specifically, extreme heat causes firms to allocate more resources toward prevention, repair, and mitigation of climate-related risks, thereby crowding out investment in labor. Furthermore, as extreme heat reduces worker productivity, firms increasingly adopt industrial robots to substitute for human labor, thereby maintaining production stability. Extreme heat also induces changes in hiring structure and labor costs. Firms tend to hire more experienced workers and are more likely to offer high-temperature subsidies. Both pollution-intensive and clean industries exhibit significant responses in their hiring decisions to extreme heat. Finally, we find that the negative impact of extreme heat is mitigated in larger, longer listed, and state-owned enterprises.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"150 ","pages":"Article 108854"},"PeriodicalIF":14.2,"publicationDate":"2025-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144912335","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

A comparative study of mode decomposition methods in crude oil forecasting 原油预测中模式分解方法的比较研究

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-27 DOI: 10.1016/j.eneco.2025.108853

Mingchen Li , Haonan Yao , Yunjie Wei , Shouyang Wang

{"title":"A comparative study of mode decomposition methods in crude oil forecasting","authors":"Mingchen Li , Haonan Yao , Yunjie Wei , Shouyang Wang","doi":"10.1016/j.eneco.2025.108853","DOIUrl":"10.1016/j.eneco.2025.108853","url":null,"abstract":"<div><div>Crude oil is of strategic importance in the world economy, and any change in its price affects economic stability, energy security, and even financial market performance. The high level of volatility in crude oil prices is influenced by geopolitical, economic, and speculative factors; it assigns both difficulties and necessities to the forecasting process. To address this, various forecasting models have been employed to capture the dynamics of oil price movements. Of these, the techniques of mode decomposition prove good in decomposing the complex price series into components to increase the accuracy of forecasting models, which perform the task of breaking down the price series into distinct components: the long-term trend, seasonal variation, and the stochastic short-term fluctuation. This study systematically evaluates and compares commonly used decomposition methods, highlighting the necessity of applying these techniques to enhance forecasting accuracy given the inherent complexity of crude oil prices. Through empirical tests, this study measures the effectiveness of these techniques, providing insights into their relative performance. The findings indicate that decomposition methods significantly enhance forecast accuracy and can be categorized into three tiers based on performance, offering guidance for selecting the most suitable approach for crude oil price forecasting.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"150 ","pages":"Article 108853"},"PeriodicalIF":14.2,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145019886","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

Emerging Asia’s move towards a net-zero path: The interplay of environmental threats, energy systems innovation, and vulnerability 新兴亚洲走向净零道路：环境威胁、能源系统创新和脆弱性的相互作用

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-26 DOI: 10.1016/j.eneco.2025.108864

Constantin Gurdgiev , Kazi Sohag , Md. Monirul Islam

{"title":"Emerging Asia’s move towards a net-zero path: The interplay of environmental threats, energy systems innovation, and vulnerability","authors":"Constantin Gurdgiev , Kazi Sohag , Md. Monirul Islam","doi":"10.1016/j.eneco.2025.108864","DOIUrl":"10.1016/j.eneco.2025.108864","url":null,"abstract":"<div><div>Despite their reliance on fossil fuels, emerging Asia has committed to the Paris Agreement, aiming for environmental stewardship through renewable energy innovations outlined in their nationally determined contributions (NDCs). Motivated by this commitment, we investigate the impact of renewable energy innovation, investment, and energy systems vulnerability on GHG emissions (CO<sub>2</sub>, CH<sub>4</sub>, N<sub>2</sub>O), while accounting for the effect of economic growth and regulatory policies on these determinants of transition to net zero. Analysing data from 2000 to 2022 using a long-difference regression method, we find a counterintuitive response of GHG emissions to renewable energy innovation and investment. CO<sub>2</sub> emissions exhibit an inverted U-shaped response to innovation and energy vulnerability. Overall, scale effects do not necessarily reduce emissions, and energy mix composition factors can lead to rebound effects. Thus, our evidence indicates that in the emerging Asia, current technology and institutional frameworks focus more on economic growth than on mitigating environmental impacts. Our structural breaks analysis confirms these findings. Therefore, we suggest the need for robust institutional mechanisms to promote clean energy innovation and address environmental challenges on the path to net-zero emissions.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"150 ","pages":"Article 108864"},"PeriodicalIF":14.2,"publicationDate":"2025-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144908776","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

An analysis of mergers in the presence of uncertainty in renewable energy integration costs 可再生能源整合成本存在不确定性的并购分析

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-26 DOI: 10.1016/j.eneco.2025.108819

Wassim Daher , Jihad Elnaboulsi , Mahelet G. Fikru , Luis Gautier

{"title":"An analysis of mergers in the presence of uncertainty in renewable energy integration costs","authors":"Wassim Daher , Jihad Elnaboulsi , Mahelet G. Fikru , Luis Gautier","doi":"10.1016/j.eneco.2025.108819","DOIUrl":"10.1016/j.eneco.2025.108819","url":null,"abstract":"<div><div>This study examines how uncertainty in renewable integration costs affects the profitability of mergers among energy producers. As the energy sector shifts toward decentralized renewables, centralized producers face industry-wide and firm-specific cost uncertainties due to the variable and intermittent nature of distributed generation. Although previous models have examined mergers in the presence of greener energy, they have largely assumed deterministic costs and ignored the impact of the dual sources of uncertainty on merger profitability. This study incorporates both industry-wide and private shocks into renewable integration costs, using two theoretical models – without and with uncertainty – to identify how these shocks affect merger profitability. With full information, we show that mergers are unprofitable unless they consolidate a majority of firms (e.g., 90% consolidation), where a higher renewable integration cost reduces losses from mergers. This is because joint profit maximization allows merger participants to better absorb (higher) costs while non-merging firms cut production more sharply. With uncertainty, we find that the effect of the two sources of uncertainties on merger profitability depends on the average grid integration cost, merger size, and quality of private information. In particular, results suggest that mergers are more likely to be profitable when firms can effectively absorb private shocks due to the merger size, unless average grid integration costs become too high. The incentives to merge are less clear-cut in the presence of an industry-wide shock, unless the quality of private information is high enough.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"150 ","pages":"Article 108819"},"PeriodicalIF":14.2,"publicationDate":"2025-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144922538","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

Can energy efficiency credit guidelines boost enterprises' low-carbon technological innovation? Evidence from China 能效信用指引能否推动企业低碳技术创新？来自中国的证据

IF 14.2 2区经济学

Energy Economics Pub Date : 2025-08-25 DOI: 10.1016/j.eneco.2025.108855

Jian Jin , Su Xu , Bei Gao

{"title":"Can energy efficiency credit guidelines boost enterprises' low-carbon technological innovation? Evidence from China","authors":"Jian Jin , Su Xu , Bei Gao","doi":"10.1016/j.eneco.2025.108855","DOIUrl":"10.1016/j.eneco.2025.108855","url":null,"abstract":"<div><div>This research takes China's “Energy Efficiency Credit Guidelines (EECG)” as a quasi-natural experiment and uses the propensity score matching-difference-in-differences (PSM-DID) method to examine the impact of incentive-based energy efficiency credit policies on corporate low-carbon technological innovation. The research finds that the EECG have exerted a positive incentive effect, promoted corporate low-carbon technological innovation and showed a trend of “improving quantity and increasing quality.” Mechanism analysis shows that the EECG mainly incentivize low-carbon technological innovation by promoting financing competition among firms, inhibiting corporate financialization, attracting green investors, and strengthening firms' awareness of climate risks. Moderating effect analysis reveals that climate policy uncertainty has an inverted U-shaped moderating effect on the policy effectiveness of the EECG. Heterogeneity analysis indicates that the innovation incentive effect of energy efficiency credit is stronger in firms with executives having environmental backgrounds, technology-intensive firms, and firms located in regions with lower levels of informal financial development. Finally, the promotion of low-carbon technological innovation by the EECG further optimizes firms' ESG (environmental, social, and governance) performance.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"150 ","pages":"Article 108855"},"PeriodicalIF":14.2,"publicationDate":"2025-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144908658","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