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| 1 |
ID:
150043
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| Summary/Abstract |
The energy sector depends on water in all phases of its life-cycle, including raw material extraction, power plant cooling, irrigation of biofuel crops and directly in hydropower generation. In the coming decades, several regions of the world are expected to experience a decrease in water resource availability, in part due to climate change. The dependence of the energy sector on water resources calls for an active effort to adapt to the possible scenarios. This paper presents a novel model that addresses the direct impacts of regional and temporal water shortages on energy operation and investment decisions. The paper investigates the costs and benefits of adapting the energy sector to climate-induced water scarcity. The results show that the increase in costs for an energy plan that considers future water stress is relatively small as compared to one which ignores it. A plan which ignores water constraints, however, may lead to significant economic damages when actually exposed to water shortages. The results also highlight the value of the availability of water for the energy sector, which is significantly higher than existing prices. The paper concludes that the potential benefits to be gained by integrating energy and water models can be considerable.
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| 2 |
ID:
125570
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2013.
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| Summary/Abstract |
One of the objectives of energy security is the uninterrupted physical availability of energy. However, there is limited information about how much is the cost of energy supply interruptions. This information is essential to optimize investment and operating decisions to prevent energy shortages, or, alternatively, to determine the strength of the signals to be sent to the agents so that they may invest accordingly. In this paper, we estimate the economic impact of an electricity interruption in different sectors and regions of Spain. Although there are several caveats in our analysis, we find that in 2008 the cost for the Spanish economy of one kWh of electricity not supplied was above €4 even in a conservative scenario, which is higher than the signals currently being sent as incentives to avoid these interruptions. This might result in an underinvestment in short-term energy security, particularly when we add the usual risk aversion of most consumers.
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| 3 |
ID:
127301
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2014.
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| Summary/Abstract |
This paper assesses the impacts on the cement, steel and oil refining sectors in Spain of the carbon prices derived from the European Emissions Trading Scheme (EU ETS), and the potential effect on these sectors of the European Union anti-leakage policy measures. The assessment is carried out by means of three engineering models developed for this purpose. Our results show a high exposure to leakage of cement in coastal regions; a smaller risk in the steel sector, and non-negligible risk of leakage for the oil refining sector when carbon allowance prices reach high levels. We also find that the risk of leakage could be better handled with other anti-leakage policies than those currently in place in the EU.
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| 4 |
ID:
116749
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2012.
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| Summary/Abstract |
While support instruments have succeeded to largely deploy renewables during the 1996-2008 period, little attention has been paid to energy efficiency measures, resulting in a high energy intensity and large growth of energy demand. Energy-related CO2 emissions have increased significantly. At the same time, important investments in combined cycle gas turbines have taken place. This paper analyses whether, from a cost minimization viewpoint, renewable support has been the best policy for reducing emissions, when compared to the promotion of energy efficiency in sectors such as transportation or buildings. We use a model of the Spanish energy sector to examine its evolution in the time period considered under different policies. It is a bottom-up, static, partial equilibrium, linear programming model of the complete Spanish energy system. We conclude that demand side management (DSM) clearly dominates renewable energy (RE) support if the reduction of emissions at minimum cost is the only concern. We also quantify the savings that could have been achieved: a total of €5 billion per year, mainly in RE subsidies and in smaller costs of meeting the reduced demand (net of DSM implementation cost).
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| 5 |
ID:
117234
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2013.
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Biofuels are a key component of the EU strategy to improve the efficiency in transport. However, several difficulties have been identified regarding the long-term sustainability of the European Commission's Policy around biofuels. This paper presents a summary of the discussions held in the BP Forum on Energy and Sustainability, in which more than 30 international experts put forward their proposals for improving current policies for biofuels in Europe.
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