Energy Policy最新文献_第2页

Incomplete markets, pumped hydro storage and the role of policy in Australia's national electricity market 不完整的市场，抽水蓄能和政策在澳大利亚全国电力市场中的作用

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-13 DOI: 10.1016/j.enpol.2025.114657

Paul Simshauser , Nicholas Gohdes

{"title":"Incomplete markets, pumped hydro storage and the role of policy in Australia's national electricity market","authors":"Paul Simshauser , Nicholas Gohdes","doi":"10.1016/j.enpol.2025.114657","DOIUrl":"10.1016/j.enpol.2025.114657","url":null,"abstract":"<div><div>All credible scenarios of a decarbonising Australian power system with high levels of renewables rely on a portfolio of flexible, dispatchable storage and firming assets. Given our current understanding of costs and prices, such portfolios are thought to include short-duration batteries, intermediate-duration pumped hydro, and gas turbines acting as a last line of defence against intermittency. Wind and solar output ultimately need to be moved through space (networks) and time (storage). However, the storage asset class with the highest energy density, pumped hydro, appears to be facing structurally high capital costs and face incomplete markets on entry. A generating portfolio that is under-weight pumped hydro may result in rising renewable curtailment rates and a greater reliance on gas-fired generation. In this article, we focus on material reductions in the carrying cost of capital-intensive, ultra-long-lived pumped hydro assets by introducing a ‘semi-regulated’ policy framework to address incomplete markets in Australia's deregulated energy-only power system. When the policy is applied, financing costs are lowered significantly. We find that post-arbitrage carrying costs of pumped hydro can be reduced by almost 40 %, lowering expected prices for consumers. While applied to pumped hydro, the framework may be applied to any storage technology.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"204 ","pages":"Article 114657"},"PeriodicalIF":9.3,"publicationDate":"2025-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143934901","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

Government energy conservation assessment policy and enterprise financial performance 政府节能考核政策与企业财务绩效

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-13 DOI: 10.1016/j.enpol.2025.114677

Boqiang Lin , Ziqiang Lin

{"title":"Government energy conservation assessment policy and enterprise financial performance","authors":"Boqiang Lin , Ziqiang Lin","doi":"10.1016/j.enpol.2025.114677","DOIUrl":"10.1016/j.enpol.2025.114677","url":null,"abstract":"<div><div>Government guided and supervised energy conservation transformation represents a crucial strategic measure. It promotes sustainable development of enterprises and helps achieve the national green transformation goal. Based on the <em>China's Top 100-1K-</em>10K Energy<em>-Consuming Units Program</em>, this paper combines the newly released industrial enterprise database with the manually collected government energy conservation assessment list. We select data from 2017 to 2021 and use propensity score matching to estimate the average treatment effect of the policy. The study finds that: (1) The profitability and operational efficiency of the enterprises on the energy conservation assessment list have significantly improved, while there is no obvious difference in current cost–benefit analysis and solvency risk. (2) The heterogeneity analysis reveals that the policy exerts distinct effects on the financial performance of enterprises at different assessment levels, across various industries, and of diverse types. (3) The mandatory energy conservation assessment policy exacerbates the operational pressure on enterprises, while the voluntary energy conservation transformation policy improves the financial performance of enterprises in the long term. Based on results, this paper proffers policy recommendations for the government to stimulate the enterprises' energy conservation transformation.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"204 ","pages":"Article 114677"},"PeriodicalIF":9.3,"publicationDate":"2025-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143935917","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

How do environmental concerns and global economic conditions affect energy prices? 环境问题和全球经济状况如何影响能源价格？

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-12 DOI: 10.1016/j.enpol.2025.114680

Sami Ben Jabeur , Sabri Boubaker , Pedro Carmona , Nicolae Stef

{"title":"How do environmental concerns and global economic conditions affect energy prices?","authors":"Sami Ben Jabeur , Sabri Boubaker , Pedro Carmona , Nicolae Stef","doi":"10.1016/j.enpol.2025.114680","DOIUrl":"10.1016/j.enpol.2025.114680","url":null,"abstract":"<div><div>The price of oil can be a catalyst for the transition to a low-carbon economy as it may encourage households, firms, and local authorities to adopt a greener behavior. However, anticipating the mechanisms that drive oil price fluctuations is difficult. The oil market represents a complex system where different components can be subject to nonlinear dynamics that affect the system's structure. In this framework of the complexity theory, we utilized the quantification of asymmetric dependence (qad) method and fuzzy set qualitative comparative analysis (fsQCA) to investigate the simultaneous impact of different factors on the monthly crude oil price. Our findings reveal that a combination of conditions – including strong global economic conditions, low awareness about climate change concerns, and minimal change in global surface temperature – is strongly linked to higher crude oil prices. Additionally, the fsQCA analysis identified three major conditions that are necessary to attain a high level of oil price, namely improved global economic conditions (1), low levels of geopolitical risks (2), and low levels of real interest rate (3). This paper highlights how policymakers, financial institutions, and analysts could use fsQCA to assess the simultaneous influence of independent factors on Brent trading prices.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"204 ","pages":"Article 114680"},"PeriodicalIF":9.3,"publicationDate":"2025-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143934902","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

Exploring perspectives on photovoltaic prosumerism in advancing a fair energy transition in Brazil 探索光伏产消主义在推进巴西公平能源转型中的观点

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-10 DOI: 10.1016/j.enpol.2025.114656

Cláudio Albuquerque Frate, Giovanni Cordeiro Barroso, Paulo Cesar Marques de Carvalho

引用次数: 0

Implications for cost-competitiveness of misalignment in hydrogen certification: a case study of exports from Australia to the EU 氢认证偏差对成本竞争力的影响：澳大利亚对欧盟出口的案例研究

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-09 DOI: 10.1016/j.enpol.2025.114661

Lee V. White , Reza Fazeli , Fiona J. Beck , Kenneth G.H. Baldwin , Chengzhe Li

{"title":"Implications for cost-competitiveness of misalignment in hydrogen certification: a case study of exports from Australia to the EU","authors":"Lee V. White , Reza Fazeli , Fiona J. Beck , Kenneth G.H. Baldwin , Chengzhe Li","doi":"10.1016/j.enpol.2025.114661","DOIUrl":"10.1016/j.enpol.2025.114661","url":null,"abstract":"<div><div>Certification schemes are emerging globally to establish emissions credentials for hydrogen. In 2023, the European Union's (EU) delegated regulations supplementing the Renewable Energy Directive II (RED II) codified when on-grid renewable electricity used in electrolytic production can be categorised as ‘renewables based’. This determines which hydrogen is eligible towards EU climate targets, and could impact industry development. While prior analyses have focused on implications for EU producers, the EU's expected hydrogen demand means this policy will affect international exporters. The reliance of RED II rules on electricity market features such as bidding zones may create challenges for certification alignment in overseas electricity markets.</div><div>We investigate the implications of misaligned hydrogen certification by considering the case of Australian exports to the EU. Our analytical framework links a techno-economic cost model with a simulation model to explore two scenarios: 1) when only Australian off-grid electricity is recognised as renewables-based, and 2) when Australian renewable electricity used in grid-connected electrolysis is recognised as creating renewables-based hydrogen. We find that on-grid could be cheaper in the near-term, but off-grid is consistently cheaper in the longer term (2030–2040). Certification misalignment is unlikely to affect cost-competitiveness in later years, but could affect early industry development.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"204 ","pages":"Article 114661"},"PeriodicalIF":9.3,"publicationDate":"2025-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143924040","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 quota trading promote the transformation of the power generation structure? Evidence from prefecture-level cities in China 能源配额交易能否促进发电结构转型？来自中国地级市的证据

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-08 DOI: 10.1016/j.enpol.2025.114662

Yutong Xia , Guoxing Zhang , Bin Su , Guanglei Yang , Yan Nie , Xiaojie Christine Sun

{"title":"Can energy quota trading promote the transformation of the power generation structure? Evidence from prefecture-level cities in China","authors":"Yutong Xia , Guoxing Zhang , Bin Su , Guanglei Yang , Yan Nie , Xiaojie Christine Sun","doi":"10.1016/j.enpol.2025.114662","DOIUrl":"10.1016/j.enpol.2025.114662","url":null,"abstract":"<div><div>The low-carbon transition of the electricity sector is a crucial component of sustainable economic and societal development. It is important to explore the role of market incentive policies, such as Energy Quota Trading (EQT), particularly in the process of power transformation. We employ a quasi-natural experiment to evaluate the impact of China's EQT pilot program. Using city-level power generation structure data, we apply the difference-in-difference method (DID) to examine the effect of EQT on power transformation. Our findings indicate that EQT significantly accelerates the transformation of power generation structures. The heterogeneity analysis reveals that the impact of EQT depends on the availability of renewable energy resources. Regions with limited resource endowments face challenges in achieving transformation. Meanwhile, those with abundant resources show varying outcomes, influenced by the type of power generation. This underscores the fundamental role of resource endowments in driving energy transitions. Additionally, the significant transformation effects observed in regions with advanced technological capabilities highlight the critical role of technological progress in facilitating energy structure adjustments. With respect to industrial structure, EQT shows significant transformation effects mainly in regions with a moderate proportion of secondary industry, suggesting the restrictive effect of industrial structure on power transformation. This study provides both theoretical insights and empirical evidence for policymakers seeking to use market mechanisms to drive power sector transformation and achieve carbon peaking and neutrality targets on schedule.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"204 ","pages":"Article 114662"},"PeriodicalIF":9.3,"publicationDate":"2025-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143916647","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

How effective are green spending multipliers? Eco-friendly vs non-eco-friendly spending in OECD economies 绿色支出乘数的效果如何？经合组织经济体的环保与非环保消费

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-06 DOI: 10.1016/j.enpol.2025.114676

Syed Sadaqat Ali Shah , Kai Wu

引用次数: 0

Pathways to a sustainable energy future: A comparative case study of four Texas municipalities 通往可持续能源未来的道路：德克萨斯州四个城市的比较案例研究

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-06 DOI: 10.1016/j.enpol.2025.114663

Ju-Ying Yang

{"title":"Pathways to a sustainable energy future: A comparative case study of four Texas municipalities","authors":"Ju-Ying Yang","doi":"10.1016/j.enpol.2025.114663","DOIUrl":"10.1016/j.enpol.2025.114663","url":null,"abstract":"<div><div>Energy transitions do not follow a single pathway as commonly assumed. This paper incorporates path dependence and policy learning literature to unpack different energy transition pathways. This paper examines why municipalities transition to renewable energy differently and identifies contributing factors. Through a comparative case study of four Texas municipalities—Georgetown, Denton, Austin, and Houston—two distinct pathways emerge. The first, <em>a Single Pathway with Feedback Loop</em>, shows that while municipalities can transition smoothly through critical junctures or shocks, they often struggle to maintain their commitments due to poor contract risk management. The second, a <em>Double Pathway with Policy Learning and Infrastructural Lock-in</em>, involves municipalities learning from others’ experiences to avoid mistakes, yet they may still face challenges due to reliance on existing fossil fuel infrastructure. This paper presents an updated theoretical energy transitions framework, highlighting the varied themes of these pathways. The conclusion draws attention to the practical implications for municipalities, particularly in terms of policy learning from past failures and avoiding carbon lock-in during energy transitions.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"204 ","pages":"Article 114663"},"PeriodicalIF":9.3,"publicationDate":"2025-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143906702","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 tale of two (un)Just Transitions: the end of the coal-fired power plants in Portugal 两个（不）公正转型的故事：葡萄牙燃煤电厂的终结

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-05 DOI: 10.1016/j.enpol.2025.114658

Ricardo Moreira

引用次数: 0

Impacts of local and regional carbon markets in Hong Kong and China's Greater Bay Area: A dynamic CGE analysis 香港和中国大湾区本地和区域碳市场的影响：动态CGE分析

IF 9.3 2区经济学

Energy Policy Pub Date : 2025-05-05 DOI: 10.1016/j.enpol.2025.114651

Ji Zheng , Xin Li , Kyung-Min Nam

{"title":"Impacts of local and regional carbon markets in Hong Kong and China's Greater Bay Area: A dynamic CGE analysis","authors":"Ji Zheng , Xin Li , Kyung-Min Nam","doi":"10.1016/j.enpol.2025.114651","DOIUrl":"10.1016/j.enpol.2025.114651","url":null,"abstract":"<div><div>We examine the potential economic impacts of local and regional carbon markets in Hong Kong and China's Greater Bay Area, taking a computable general equilibrium approach. We find that Hong Kong's proposed carbon-neutrality target requires policy-compliance costs as large as ≤21.0 % of its baseline gross domestic product, but regional cooperation can help reduce the costs substantially. For example, the costs will decline by ≤23.0 % if Hong Kong forms an integrated carbon market with Shenzhen. The cost savings will further increase to ≤38.2 % if Hong Kong cooperates with Shenzhen and Guangdong to create an extended regional carbon market. Such an integrated carbon market will be mutually beneficial, and will also help Shenzhen and Guangdong meet their own carbon-reduction goals at ≤13.9 % and ≤5.2 % lower costs, respectively. These regional cooperation scenarios, though benefiting all participants, will make Hong Kong—which sets an ambitious climate-mitigation target at the city level, despite its tiny local carbon market—the biggest winner. Accordingly, Hong Kong has a great incentive to promote an integrated regional carbon market, but increasing its feasibility may require an institutional device to reduce the imbalance in benefit across regional stakeholders.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"204 ","pages":"Article 114651"},"PeriodicalIF":9.3,"publicationDate":"2025-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143908295","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