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Energy Economics: Theory and Applications 1st ed. 2017 [Kõva köide]

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  • Formaat: Hardback, 324 pages, kõrgus x laius: 235x155 mm, kaal: 6387 g, 73 Illustrations, black and white; XX, 324 p. 73 illus., 1 Hardback
  • Sari: Springer Texts in Business and Economics
  • Ilmumisaeg: 10-Mar-2017
  • Kirjastus: Springer-Verlag Berlin and Heidelberg GmbH & Co. K
  • ISBN-10: 3662530201
  • ISBN-13: 9783662530207
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Energy Economics: Theory and Applications 1st ed. 2017Suurem pilt
  • Formaat: Hardback, 324 pages, kõrgus x laius: 235x155 mm, kaal: 6387 g, 73 Illustrations, black and white; XX, 324 p. 73 illus., 1 Hardback
  • Sari: Springer Texts in Business and Economics
  • Ilmumisaeg: 10-Mar-2017
  • Kirjastus: Springer-Verlag Berlin and Heidelberg GmbH & Co. K
  • ISBN-10: 3662530201
  • ISBN-13: 9783662530207
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9783662530207.html
Märksõnad:
This book provides an introduction to energy economics. It shows how to apply general economic theory as well as empirical and advanced econometric methods to explain the drivers of energy markets and their development. Readers learn about the specific properties of energy markets as well as the physical, technological, environmental, and geopolitical particularities of energy sources and products. The book covers all types of energy markets, ranging from liquid fuels, gaseous fuels, and solid fuels to electricity. It also addresses emission allowances, energy efficiency, and nuclear risks. The authors discuss the engineering properties of energy technologies including renewables, the economics of natural resources and environmental protection, market liberalization, and energy trade as well as the experience of the German energy transformation. This book will serve students as a textbook and practitioners as a reference for their understanding of energy markets and their developm

ent.

Preface.- Introduction.- Energy in Science and Engineering.- Investment and Profitability Calculation.- Bottom-Up Analysis of Energy Demand.- Top-Down Analysis of Energy Demand.- Energy Reserves and Sustainability.- External Costs.- Markets for Liquid Fuels.- Markets for Gaseous Fuels.- Markets for Solid Fuels and CO2 Emissions.- Uranium and Nuclear Energy.- Markets for Electricity.- Economics of Electrical Grids.

Arvustused

This book provides a broad approach to energy economics that, while theoretically based, focuses on empirical results. the chapters in the book are fairly stand-alone, with little integration between. For practitioners or students who are looking for stand alone reference chapters on major energy economic topics, this may be a good choice. (Janie M. Chermak, The Energy Journal, Vol. 40 (6), 2019)

1 Introduction
1(14)
1.1 Philosophical and Evolutionary Aspects of Energy
1(3)
1.2 Why Energy Economics?
4(8)
1.2.1 Price Mechanism and Market Coordination
5(2)
1.2.2 Particularities of Energy Markets
7(2)
1.2.3 Energy Policy
9(3)
1.3 History of Energy Economics
12(3)
References
13(2)
2 Energy in Science and Engineering
15(22)
2.1 Energy and the Natural Sciences
16(3)
2.1.1 Physics
16(2)
2.1.2 Chemistry
18(1)
2.1.3 Biology
18(1)
2.2 Engineering and Energy
19(4)
2.2.1 Energy Units
20(1)
2.2.2 Energy Conversion
21(2)
2.3 Energy Balance
23(5)
2.3.1 Gross Energy (Primary Energy)
23(3)
2.3.2 Final Energy Consumption
26(1)
2.3.3 Data Sources
26(1)
2.3.4 Useful Energy (Net Energy) and Energy Services
27(1)
2.4 Cumulated Energy Requirement
28(1)
2.5 Energy Input-Output Analysis
29(8)
References
34(3)
3 Investment and Profitability Calculation
37(28)
3.1 Basics
38(6)
3.2 Interest Rate and Price of Capital
44(1)
3.3 Inflation-Adjusted Interest Rate
45(2)
3.4 Social Time Preference
47(2)
3.5 Interest Rate and Risk
49(5)
3.5.1 Capital Asset Pricing Model (CAPM)
50(3)
3.5.2 New Asset Pricing Methods
53(1)
3.6 Real Option Valuation
54(11)
3.6.1 Energy Investments as Real Options
55(3)
3.6.2 Black-Scholes Model
58(2)
3.6.3 Application to Balancing Power Supply
60(3)
References
63(2)
4 Bottom-Up Analysis of Energy Demand
65(24)
4.1 Process Analysis
66(2)
4.2 Stock of Appliances, Buildings, Vehicles, and Machineries
68(9)
4.3 Energy Efficiency
77(12)
4.3.1 Definitions
77(4)
4.3.2 Determining Energy Efficiency Potential
81(1)
4.3.3 Energy Efficiency: A Case of Market Failure?
82(3)
4.3.4 Contracting
85(2)
References
87(2)
5 Top-Down Analysis of Energy Demand
89(22)
5.1 Population Growth
90(2)
5.2 Economic Growth
92(2)
5.3 The Price of Energy
94(13)
5.3.1 Short-Term and Long-Term Price Elasticities
95(1)
5.3.2 A Partial Energy Demand Model
96(6)
5.3.3 Substitution Between Energy and Capital
102(5)
5.4 Technological Change
107(4)
References
110(1)
6 Energy Reserves and Sustainability
111(32)
6.1 Resources and Reserves
112(5)
6.1.1 Resources
113(2)
6.1.2 Static Range of Fossil Energy Reserves
115(2)
6.2 Profit-Maximizing Resource Extraction
117(6)
6.2.1 Hotelling Price Trajectory
117(3)
6.2.2 Role of Backstop Technologies
120(2)
6.2.3 Role of Expectations and Expectation Errors
122(1)
6.3 Optimal Resource Extraction: Social Welfare View
123(8)
6.3.1 The Optimal Consumption Path
126(2)
6.3.2 The Optimal Depletion Path of the Reserve
128(1)
6.3.3 Causes and Implications of Market Failure
129(2)
6.4 Sustainability
131(12)
6.4.1 Potential of Renewable Energy Sources
131(1)
6.4.2 Hartwick Rule for Weak Sustainability
132(5)
6.4.3 Population Growth and Technological Change
137(1)
6.4.4 Is the Hartwick Rule Satisfied?
138(2)
References
140(3)
7 External Costs
143(16)
7.1 The Coase Theorem
144(3)
7.2 Aggregate Emissions
147(3)
7.3 Instruments of Environmental Policy
150(4)
7.3.1 Internalization Approaches
150(2)
7.3.2 Standard-Oriented Approaches
152(2)
7.4 Measuring External Costs of Energy Use
154(5)
References
157(2)
8 Markets for Liquid Fuels
159(38)
8.1 Types of Liquid Fuels and Their Properties
160(11)
8.1.1 Properties of Crude Oil
160(1)
8.1.2 Reserves and Extraction of Conventional Oil
161(2)
8.1.3 Peak Oil Hypothesis
163(3)
8.1.4 Unconventional Oil
166(1)
8.1.5 Refineries and Oil Products
167(1)
8.1.6 Biogenic Liquid Fuels
168(3)
8.2 Crude Oil Market
171(11)
8.2.1 Vertically Integrated Monopoly
171(3)
8.2.2 Global Oligopoly of Vertically Integrated Majors
174(2)
8.2.3 The OPEC Cartel of Oil-Exporting Countries
176(4)
8.2.4 State-Owned Oil Companies
180(2)
8.3 Oil Price Formation
182(15)
8.3.1 Oil Spot Markets and the Efficient Market Hypothesis
183(2)
8.3.2 Long-Term Oil Price Forecasts and Scenarios
185(5)
8.3.3 Prices of Crude Oil Futures
190(2)
8.3.4 Wholesale Prices of Oil Products
192(3)
References
195(2)
9 Markets for Gaseous Fuels
197(30)
9.1 Gaseous Fuels and Gas Infrastructures
198(6)
9.1.1 Properties of Gaseous Fuels
199(1)
9.1.2 Reserves and Extraction of Natural Gas
200(2)
9.1.3 Biogas and Renewable Natural Gas
202(1)
9.1.4 Hydrogen
203(1)
9.2 Natural Gas Economy
204(9)
9.2.1 Transport by Pipeline
205(6)
9.2.2 LNG Transport and Trade
211(2)
9.3 Gas Markets and Gas Price Formation
213(8)
9.3.1 Long-Term Take-or-Pay Contracts
214(2)
9.3.2 Natural Gas Spot Trade
216(5)
9.4 Third Party Access to the Gas Infrastructure
221(6)
References
224(3)
10 Markets for Solid Fuels and CO2 Emissions
227(20)
10.1 Solid Fuels and Their Technologies
228(6)
10.1.1 Biomass
228(2)
10.1.2 Coal Reserves
230(1)
10.1.3 Surface and Underground Coal Mining
231(1)
10.1.4 International Coal Market
232(2)
10.2 The Greenhouse Gas Problem
234(3)
10.3 Markets for Emission Rights
237(10)
10.3.1 Prices for CO2 Emission Rights
239(3)
10.3.2 Clean Dark Spread
242(2)
10.3.3 Coal Perspectives
244(1)
References
245(2)
11 Uranium and Nuclear Energy
247(22)
11.1 The Foundations of Nuclear Technology
248(6)
11.1.1 Radioactivity
249(2)
11.1.2 Uranium as the Dominant Fuel for Nuclear Power
251(1)
11.1.3 Nuclear Waste
252(2)
11.2 Uranium Market
254(2)
11.3 Risk Assessment of Nuclear Energy
256(13)
11.3.1 Probabilistic Safety Analysis of Nuclear Power Plants
258(2)
11.3.2 Risk Assessment According to the (μ, σ2) Criterion
260(4)
11.3.3 Risk Assessment Based on Stated Preferences
264(3)
References
267(2)
12 Markets for Electricity
269(28)
12.1 Features of Electricity Markets
270(5)
12.1.1 The Consumer Surplus of Electricity
271(1)
12.1.2 Non-storability of Electricity
272(1)
12.1.3 Power Market Design Options
273(2)
12.2 Electricity Generation
275(13)
12.2.1 Types of Power Generation Technologies
275(3)
12.2.2 Power Plant Dispatch in Liberalized Markets
278(2)
12.2.3 Properties of Day-Ahead Power Prices
280(2)
12.2.4 Intraday Markets
282(1)
12.2.5 Portfolio Management
283(2)
12.2.6 Market Power
285(3)
12.3 Power Plant Investments
288(9)
12.3.1 Power Plant Investments in Regulated Markets
288(3)
12.3.2 Power Plant Investment in Competitive Markets
291(2)
12.3.3 Capacity Markets
293(2)
References
295(2)
13 Economics of Electrical Grids
297(18)
13.1 Grid Properties and System Services
298(4)
13.1.1 Electrotechnical Aspects
298(2)
13.1.2 Services to Be Provided by Electrical Grid Operators
300(1)
13.1.3 Markets for Control Power
301(1)
13.2 Regulation of Grid Fees
302(8)
13.2.1 The Grid as an Essential Facility
303(1)
13.2.2 Optimal Grid Fees
303(4)
13.2.3 Incentive Regulation
307(2)
13.2.4 Unbundling
309(1)
13.3 Economic Approach to Transmission Bottlenecks
310(5)
References
312(3)
14 Epilogue
315(2)
References 317(2)
Index 319
Peter Zweifel is emeritus professor from the University of Zürich and is a specialist for microeconomic theory and its applications.

Aaron Praktiknjo is an Assistant Professor of Energy Resource and Innovation Economics at RWTH Aachen University and is, among others, a specialist for energy security.



Georg Erdmann is Professor for Energy Systems at the Berlin University of Technology and member of the independent expert group who assess the German energy transformation in Germany on behalf of the federal government.