Computational techniques are used to optimize the design of an integrated energy park consisting of a coal-fired power plant, a CO2 capture system, and an auxiliary natural gas combined cycle plant. Emphasis is placed on the design of heat integration in the combined cycle system, as this heat constitutes most of the energy required for temperature-swing CO2 capture. The facility is constrained...

In this paper we present an algorithm for the valuation and optimal operation of natural gas storage facilities. Real options theory is used to derive nonlinear partial-integro-differential equations (PIDEs) for the valuation and optimal operating strategies. The equations are designed to incorporate a wide class of spot price models that can exhibit the same time-dependent, mean-reverting dyna...

The gas extraction technological developments of the 2000s have allowed shale gas production, which in the US has become a significant part of the total gas production. Such a significant change might have affected the long-run relationship between oil and natural gas prices postulated by several authors. By using monthly data of oil and gas prices, as well as gas quantities from 1997 to 2013, ...

We propose a merchant-regulatory framework to promote investment in the European natural gas network infrastructure based on a price cap over two-part tariffs. As suggested by Vogelsang (2001) and Hogan et al. (2010), a profit maximizing network operator facing this regulatory constraint will intertemporally rebalance the variable and fixed part of its two-part tariff so as to expand the conges...

The possibility of using electricity dispatching strategies to achieve a 50% nitrogen oxide (NOx) emission reduction from electricity generating units was examined using the grid of the Electricity Reliability Council of Texas as a case study. Simulations of a hypothetical policy demonstrate that imposing higher NOx prices induces a switch from some coal-fired generation to natural gas generati...

This research investigates the dynamics of capacity planning and dispatch in the US electric power sector under a range of technological, economic, and policy-related uncertainties. Using a twostage stochastic programming approach, model results suggest that the two most critical risks in the near-term planning process are natural gas prices and the stringency of climate policy. Stochastic stra...

Bu çalışmanın amacı, dünya petrol, kömür ve doğal gaz fiyatlarındaki değişikliklerin düzeltilmemiş piyasa faiz oranına göre düzeltilmiş BIST elektrik endeksinin getirisine etkisinin 17 Mayıs 2010 – 29 2020 dönemi için araştırılmasıdır. Değişkenler arasındaki nedensellik ilişkisi Granger Nedensellik testi ile, oynaklık yayılımı ise GARCH (1,1) ADC BEKK yöntemleri ile incelenmiştir. Analiz bulgul...

Half of American households heat their homes with natural gas furnaces and 43% use it to heat their water. Hence, understanding residential natural gas consumption behavior has become a first-order problem. In this paper, we provide the first ever causally identified, microdata-based estimates of residential natural gas demand elasticities using a panel of approximately 300 million bills in Cal...

Coal-…red power plants may enjoy a signi…cant advantage relative to gas plants in terms of cheaper fuel cost. Still, this advantage may erode or even turn into disadvantage depending on CO2 emission allowance price. This price will presumably rise in both the Kyoto Protocol commitment period (2008-2012) and the …rst post-Kyoto years. Thus, in a carbonconstrained environment, coal plants face …n...