Fuel flexibility in the West European power sector
Identifieur interne : 009093 ( Main/Merge ); précédent : 009092; suivant : 009094Fuel flexibility in the West European power sector
Auteurs : Patrik Söderholm [Suède]Source :
- Resources Policy [ 0301-4207 ] ; 2000.
Descripteurs français
- Wicri :
English descriptors
- KwdEn :
- Actual degree, Additional fuels, British ccgts, British coal strike, Capital costs, Capital equipment, Ccgt, Ccgts, Christensen, Coal research, Coal strike, Constant returns, Contract price, Cost function, Cost function approach, Cost function approaches, Cost share equations, Cost shares, Data sources, Different countries, Different fuels, Different power plants, Dual, Dummy variables, Elasticity, Elasticity estimates, Electric power, Electric utilities, Electricity markets, Electricity output, Electricity supply, Elsevier science, Empirical results, Energy security, Environmental regulations, Exibility, Exible, Exible cost functions, Fossil, Fossil fuel, Fossil fuel demand, Fossil fuels, Fuel, Fuel availability, Fuel choice, Fuel choices, Fuel contracting, Fuel cost shares, Fuel costs, Fuel demand systems, Fuel markets, Fuel prices, Fuel substitution, Fuel suppliers, Fuel supply, Fuel supply interruptions, Gcst gost ggst, General cost function, Generalized leontief, Important implications, Important role, Input prices, Interfuel, Interfuel competition, Interfuel substitution, International energy agency, Large reserve margins, Large share, Leontief, Lulea university, Many countries, Many utilities, Next section, Nuclear power, Oecd, Other fuels, Other words, Percent capacity factor, Post interfuel substitution, Power capacity, Power generation, Power generators, Power plants, Power sector, Power station refurbishment, Power stations, Power system, Power systems, Previous section, Price differentials, Public opposition, Public policies, Regulatory constraints, Reserve margins, Resources policy, Security study, Siting problems, Soderholm, Soderholm resources policy, Spare capacity, Spot market, Spot price, Substitution, Supply concerns, Supply cuts, Supply interruption, Supply issue, Supply security, Switch fuels, Time trend, Total capacity, Total power generation, Translog, Translog cost function, Variable cost function, Variable costs, West europe, West european countries, West european power generation, West european power sector, West european power systems, Western europe.
- Teeft :
- Actual degree, Additional fuels, British ccgts, British coal strike, Capital costs, Capital equipment, Ccgt, Ccgts, Christensen, Coal research, Coal strike, Constant returns, Contract price, Cost function, Cost function approach, Cost function approaches, Cost share equations, Cost shares, Data sources, Different countries, Different fuels, Different power plants, Dual, Dummy variables, Elasticity, Elasticity estimates, Electric power, Electric utilities, Electricity markets, Electricity output, Electricity supply, Elsevier science, Empirical results, Energy security, Environmental regulations, Exibility, Exible, Exible cost functions, Fossil, Fossil fuel, Fossil fuel demand, Fossil fuels, Fuel, Fuel availability, Fuel choice, Fuel choices, Fuel contracting, Fuel cost shares, Fuel costs, Fuel demand systems, Fuel markets, Fuel prices, Fuel substitution, Fuel suppliers, Fuel supply, Fuel supply interruptions, Gcst gost ggst, General cost function, Generalized leontief, Important implications, Important role, Input prices, Interfuel, Interfuel competition, Interfuel substitution, International energy agency, Large reserve margins, Large share, Leontief, Lulea university, Many countries, Many utilities, Next section, Nuclear power, Oecd, Other fuels, Other words, Percent capacity factor, Post interfuel substitution, Power capacity, Power generation, Power generators, Power plants, Power sector, Power station refurbishment, Power stations, Power system, Power systems, Previous section, Price differentials, Public opposition, Public policies, Regulatory constraints, Reserve margins, Resources policy, Security study, Siting problems, Soderholm, Soderholm resources policy, Spare capacity, Spot market, Spot price, Substitution, Supply concerns, Supply cuts, Supply interruption, Supply issue, Supply security, Switch fuels, Time trend, Total capacity, Total power generation, Translog, Translog cost function, Variable cost function, Variable costs, West europe, West european countries, West european power generation, West european power sector, West european power systems, Western europe.
Abstract
Abstract: This paper analyzes the role of fuel flexibility in the West European power generation sector. Fuel flexibility is recognized to have two important features. It improves the power sector's ability to respond to fuel supply interruptions, and it permits short-run price-induced interfuel competition. The security of supply issue is examined by assessing the ability of the West European power sector to respond to an interruption in gas imports. This ability is found to be high. Especially the use of oil in dual- and multi-fired plants provides a significant buffer against a potential gas supply cut. In an attempt to measure the degree of price-induced interfuel substitution in West European power generation two flexible cost functions are employed; the Translog and the Generalized Leontief. The cross-price elasticities of fossil fuel demand generated by these indicate notable short-run interfuel substitution in Western Europe, in particular between oil and gas. Since emerging competitive electricity and gas markets normally induce utilities to reduce fuel costs through improved fuel contracting, short-run interfuel substitution is likely to remain significant also in the future. This has important implications for European energy markets and policies.
Url:
DOI: 10.1016/S0301-4207(00)00025-8
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<term>Ccgt</term>
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<term>Important role</term>
<term>Input prices</term>
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<term>International energy agency</term>
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<term>Leontief</term>
<term>Lulea university</term>
<term>Many countries</term>
<term>Many utilities</term>
<term>Next section</term>
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<term>Oecd</term>
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<term>Power sector</term>
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<term>Public opposition</term>
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<term>Siting problems</term>
<term>Soderholm</term>
<term>Soderholm resources policy</term>
<term>Spare capacity</term>
<term>Spot market</term>
<term>Spot price</term>
<term>Substitution</term>
<term>Supply concerns</term>
<term>Supply cuts</term>
<term>Supply interruption</term>
<term>Supply issue</term>
<term>Supply security</term>
<term>Switch fuels</term>
<term>Time trend</term>
<term>Total capacity</term>
<term>Total power generation</term>
<term>Translog</term>
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<term>Variable cost function</term>
<term>Variable costs</term>
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<term>West european countries</term>
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<term>West european power sector</term>
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<term>Additional fuels</term>
<term>British ccgts</term>
<term>British coal strike</term>
<term>Capital costs</term>
<term>Capital equipment</term>
<term>Ccgt</term>
<term>Ccgts</term>
<term>Christensen</term>
<term>Coal research</term>
<term>Coal strike</term>
<term>Constant returns</term>
<term>Contract price</term>
<term>Cost function</term>
<term>Cost function approach</term>
<term>Cost function approaches</term>
<term>Cost share equations</term>
<term>Cost shares</term>
<term>Data sources</term>
<term>Different countries</term>
<term>Different fuels</term>
<term>Different power plants</term>
<term>Dual</term>
<term>Dummy variables</term>
<term>Elasticity</term>
<term>Elasticity estimates</term>
<term>Electric power</term>
<term>Electric utilities</term>
<term>Electricity markets</term>
<term>Electricity output</term>
<term>Electricity supply</term>
<term>Elsevier science</term>
<term>Empirical results</term>
<term>Energy security</term>
<term>Environmental regulations</term>
<term>Exibility</term>
<term>Exible</term>
<term>Exible cost functions</term>
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<term>Fuel cost shares</term>
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<term>Fuel demand systems</term>
<term>Fuel markets</term>
<term>Fuel prices</term>
<term>Fuel substitution</term>
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<term>Fuel supply</term>
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<term>Important role</term>
<term>Input prices</term>
<term>Interfuel</term>
<term>Interfuel competition</term>
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<term>International energy agency</term>
<term>Large reserve margins</term>
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<term>Lulea university</term>
<term>Many countries</term>
<term>Many utilities</term>
<term>Next section</term>
<term>Nuclear power</term>
<term>Oecd</term>
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<term>Other words</term>
<term>Percent capacity factor</term>
<term>Post interfuel substitution</term>
<term>Power capacity</term>
<term>Power generation</term>
<term>Power generators</term>
<term>Power plants</term>
<term>Power sector</term>
<term>Power station refurbishment</term>
<term>Power stations</term>
<term>Power system</term>
<term>Power systems</term>
<term>Previous section</term>
<term>Price differentials</term>
<term>Public opposition</term>
<term>Public policies</term>
<term>Regulatory constraints</term>
<term>Reserve margins</term>
<term>Resources policy</term>
<term>Security study</term>
<term>Siting problems</term>
<term>Soderholm</term>
<term>Soderholm resources policy</term>
<term>Spare capacity</term>
<term>Spot market</term>
<term>Spot price</term>
<term>Substitution</term>
<term>Supply concerns</term>
<term>Supply cuts</term>
<term>Supply interruption</term>
<term>Supply issue</term>
<term>Supply security</term>
<term>Switch fuels</term>
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<term>Total power generation</term>
<term>Translog</term>
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<front><div type="abstract" xml:lang="en">Abstract: This paper analyzes the role of fuel flexibility in the West European power generation sector. Fuel flexibility is recognized to have two important features. It improves the power sector's ability to respond to fuel supply interruptions, and it permits short-run price-induced interfuel competition. The security of supply issue is examined by assessing the ability of the West European power sector to respond to an interruption in gas imports. This ability is found to be high. Especially the use of oil in dual- and multi-fired plants provides a significant buffer against a potential gas supply cut. In an attempt to measure the degree of price-induced interfuel substitution in West European power generation two flexible cost functions are employed; the Translog and the Generalized Leontief. The cross-price elasticities of fossil fuel demand generated by these indicate notable short-run interfuel substitution in Western Europe, in particular between oil and gas. Since emerging competitive electricity and gas markets normally induce utilities to reduce fuel costs through improved fuel contracting, short-run interfuel substitution is likely to remain significant also in the future. This has important implications for European energy markets and policies.</div>
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