One of the issues concerning the replacement of natural gas by green gas is the seasonal pattern of the gas demand. When constant production is assumed, this may limit the injected quantity of green gas into a gas grid to the level of the minimum gas demand in summer. A procedure was proposed to increase the gas demand coverage in a geographical region, i.e., the extent to which natural gas dem...

This study investigates the energy and cost performance of hybrid renewable ground source heat pump (GSHP) and natural gas fueled fuel cell (FC) microgeneration systems serving multiple residential and small office buildings in Ottawa (Canada) and Incheon (South Korea). The study is performed by simulations in TRNSYS environment. The performance of the microgeneration system is compared to a GS...

In the electricity market, spark-spread options are increasingly used for hedging purposes and for valuing natural gas power plants. A spark-spread option gives the buyer the right but not the obligation to buy the price difference between electricity and natural gas adjusted for power plant efficiency. Pricing these options requires stochastic process models for the electricity price and the g...

We analyse a stochastic control problem for the valuation of a natural gas storage facility while taking into account operating characteristics. The underlying natural gas spot price dynamics is assumed to follow a time-inhomogeneous exponential Lévy process [6]. This underlying incorporates common features of gas spot prices such as seasonality, mean-reversion and price spikes with seasonal ju...

A persistent question in industrial economics is the underpinning of the link between market concentration and price. How much of the link can be attributed to market power and how much to market efficiency? This paper develops a theoretical model to address that question. Applied to the US portland cement industry, the model indicates that both impacts matter. In relative terms, however, the m...