Basis = price of hedged asset-price of hedging instrument problem of basis risk: uncertainties of processes describing the evolution of prices of asset and hedging instrument not identical, only highly correlated Example 1: weather derivatives hedged asset: heating oil sales, hedging instrument: HDD derivative HDD derivative: contract paying a premium in case HDD above a critical threshold Exam...

In this thesis we examine how fuel price variation affects the optimal mix of services in intercity transportation. Towards this end, we make two main contributions. The first is the development of an analytic total logistics cost model of intercity transportation, which is sensitive to fuel price and incorporates multiple classes of vehicles serving passengers with differentiated values of tim...

This study shows the design of a new hybrid power generation system, photovoltaic panel (PV)–coupled solid oxide fuel cell (SOFC) and gas turbine (GT)–electrolyser. Three objectives (cost, pollutant emissions, and reliability), which are usually in conflict, are considered simultaneously. The design of a hybrid system, considering the three mentioned objectives, poses a very complex problem of o...

We study the fuel procurement problem for electrical utilities under uncertain demand and market price. Long-term contractual supply commitments are made at a set price with fuel suppliers at the beginning of each year. Each month the procurement planner can use fuel from these contracts or purchase fuel at the current market price. We propose a two-phase heuristic to determine a procurement pl...

This paper employs quantile panel regression to the study of fuel price elasticities. Contrasting with standard panel approaches, this method reveals the impact of explanatory variables across all points in the conditional distribution of the response variable while controlling for unobserved heterogeneity. Applying quantile panel regression to German household data demonstrates that fuel price...

I. ABSTRACT Price differences exist in people’s daily life. The availability of real-time price information through mobile phone offers consumer benefits, which provide incentive for user contributions. For such schemes to be adopted, the cost of contribution must be more than offset by the benefit of the information. However, even in this high tech society, we have to accept the fact that such...

This paper employs quantile panel regression to the study of fuel price elasticities. Contrasting with standard panel approaches, this method reveals the impact of explanatory variables across all points in the conditional distribution of the response variable while controlling for unobserved heterogeneity. Applying quantile panel regression to German household data demonstrates that fuel price...

A key aspect of sustainable development in a country is how energy, environment and economic sectors interact. Greenhouse gas emissions and their impacts are among important environmental issues that have been in focus. The increase in the concentration of these gases in atmosphere to levels above the natural level results in global warming, depletion of the Earth’s protective layer against har...