• Title/Summary/Keyword: energy trading

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A Comparative Study of Global Economic Models for Climate Change Policy: A Structural and Technological Analysis (기후변화 글로벌 경제모형의 구조 및 기술적 변화에 따른 비교 분석)

  • Hong, Jong Ho;Kim, Changhun
    • Environmental and Resource Economics Review
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    • v.20 no.3
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    • pp.419-457
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    • 2011
  • This study aims at understanding the characteristics of global economic models, which are widely used for climate change policy analysis. A literature review study was conducted in order to derive general features of top-down models such as CGE and bottom-up/hybrid models such as GTEM. Furthermore, a structural analysis was carried out by applying parameter and structural components from other models to a particular model to observe the potential differences in outcomes. Literature review shows that bottom-up or hybrid models generally have higher level of reduction potentials than top-down models in the long run. This contradicts the conclusion presented by IPCC, and raises the need for more rigorous investigation through structural analysis. Structural analysis of EPPA model indicates that the structural component of the energy sector in a particular model is the most influential factor in predicting baseline emissions and reduction potentials. This includes the structure among energy, capital, and labor inputs, and the substitution elasticities within the energy bundle. Technology bundle can establish the conclusions from literature review, and change in Armington elasticities do not significantly affect the outcome in aggregate.

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Comparison of recovery rates of DNPH-Cartridge sampler in the analysis of odorous carbonyl compounds (DNPH Cartridge를 이용한 악취성 카르보닐화합물의 분석회수율 비교)

  • Hong, One-Feel;Lim, Sung-Min;Kim, Ki-Hyun
    • Analytical Science and Technology
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    • v.23 no.5
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    • pp.446-456
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    • 2010
  • In this study, the performance characteristics of DNPH sampling were investigated in the collection and analysis of 5 carbonyl compounds (CC) in air using the cartridge products produced by three different makers. For these experiments, gaseous standards of 5 CCs were prepared to cover 9 concentration levels for each compound (33~2600 nmol). Some cartridge products exhibited relatively high blank values of acetaldehyde (AA) and propionaldehyde (PA). The recovery rates of all three cartridges showed moderate reduction as the molecular weight of CC increased. In addition, when the recovery rate was compared by percent error (%), the most stable patterns were achieved in the intermediate concentration range of 263~1312 nmol (in case of AA). The overall results of our study suggest that the optimal range of recovery for a given concentration range should be considered to obtain the most reliable data for the DNPH cartridge method.

Analysis of Determinants of Electricity Import and Export in Europe Using Spatial Econometrics (공간계량 방법론을 활용한 유럽의 전력수출입 결정요인 분석)

  • Hong, Won Jun;Lee, Jihoon;Noh, Jooman;Cho, Hong Chong
    • Environmental and Resource Economics Review
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    • v.30 no.3
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    • pp.435-469
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    • 2021
  • The main purpose of this study is to identify the determinants of electricity import and export in 26 European Union countries using the Spatial durbin model(SDM). In particular, we would like to mainly explain it based on the amount of power generated by each energy source. Not just the usual way of constructing a weighting matrix based on contiguity, we adopt a weighting method based on the proportion of trade among countries with connected electricity systems. Moreover, the electricity systems of European countries are directly and indirectly connected, which is reflected in the weighting matrix. According to the results, nuclear power has a positive effect on exports and a negative effect on imports, and an increase in wind and solar power has a positive effect on both exports and imports by increasing power system instability. While Korea is unable to trade electricity due to geopolitical conditions, the results of this study are expected to provide implications for energy policies.

Energy Perspective of Sugar Industries in Pakistan: Determinants and Paradigm Shift

  • Siddiqui, Muhammad Ayub;Shoaib, Adnan
    • Journal of Distribution Science
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    • v.10 no.2
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    • pp.7-17
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    • 2012
  • The aim of this study is to empirically explore micro and macroeconomic factors affecting the Pakistani sugar industries and searching the energy potential of this industry, through the survey of literature. The empirical part has been explored by employing Vector Autoregression (VAR), Granger Causality tests and simultaneous equation models through quarterly data for the period of 1991q2-2008q4. The study also aims to devise policies for the development of sugar industries and identify its growing importance for the energy sector of Pakistan. Empirical tests applied on the domestic prices of sugar, domestic interest rates, and exchange rate, productive capacities of sugar mills, per capita income, world sugar prices on cultivable area and sugar production reveal very useful results. Results reveal an improvement of productive capacity of the sugar mills of Pakistan on account of increasing crushing capacity of this sector. Negative effect of rising wholesale prices on the harvesting area was also observed. Profit earnings of the sugar mills significantly increase with the rise of sugar prices but the system does not exist for the farming community to share the rising prices of sugar. The models indicate positive and significant effect of local prices of sugar on its volume of import. Another of the findings of this study positively relates the local sugar markets with the international prices of sugar. Additionally, the causality tests results reveal exchange rate, harvesting area and overall output of sugarcane to have significant effects on the local prices of sugar. Similarly, import of sugar, interest rate, per capita consumption of sugar, per capita national income and the international prices of sugar also significantly affect currency exchange rate of Pakistani rupee in terms of US$. The study also finds sugar as an essential and basic necessity of the Pakistani consumers. That is why there are no significant income and price effects on the per capita consumption of sugar in Pakistan. All the empirical methods reiterate the relationship of variables. Economic policy makers are recommended to improve governance and management in the production, stock taking, internal and external trading and distribution of sugar in Pakistan using bumper crop policies. Macroeconomic variables such as interest rate, exchange rate per capita income and consumption are closely connected with the production and distribution of sugar in Pakistan. The cartelized role of the sugar industries should also be examined by further studies. There is need to further explore sugar sector of Pakistan with the perspective of energy generation through this sector; cartelized sugar markets in Pakistan and many more other dimensions of this sector. Exact appraisal of sugar industries for energy generation can be done appropriately by the experts from applied sciences.

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Review of the Estimation Method of Methane Emission from Waste Landfill for Korean Greenhouse Gas and Energy Target Management System (온실가스·에너지 목표관리제를 위한 폐기물 매립시설 메탄배출량의 적정 산정방법에 관한 고찰)

  • Seo, Dong-Cheon;Nah, Je-Hyun;Bae, Sung-Jin;Lee, Dong-Hoon
    • Journal of Korean Society of Environmental Engineers
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    • v.35 no.12
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    • pp.867-876
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    • 2013
  • To promote the carbon emission trading scheme and reduce greenhouse gas (GHG) emission as following 'Korean GHG & Energy Target Management System', GHG emissions should be accurately determined in each industrial sector. For the estimation method of GHG emission from waste landfill, there are several error parameters, therefore we reviewed the estimation method and proposed a revised method. Methane generation from landfill must be calculated by the selected method based on methane recovery rate, 0.75. However, this methodology is not considered about uncertainty factor. So it is desirable that $CH_4$ generation is estimated using first order decay model and methane recovery should use field monitoring data. If not, $CH_4$ recovery could be applied from other study results; 0.60 of operational landfill with gas vent and flaring system, 0.65 of operational site with landfill gas recovery system, 0.90 of closed landfill with final cover. Other parameters such as degradable organic carbon (DOC) and fraction of DOC decompose ($DOC_f$) need to derive the default value from studies to reflect a Korean waste status. Proper application of MCF that is selected by operation and management of landfill requires more precise criteria.

Korean Companies' Understanding of Carbon Pricing and Its Influence on Policy Acceptance and Practices (한국 기업의 탄소가격 정책에 대한 이해가 정책 수락 및 대응에 미치는 영향)

  • Suk, Sunhee
    • Environmental and Resource Economics Review
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    • v.26 no.4
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    • pp.577-612
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    • 2017
  • In response to climate change, Korea is attempting to shift the paradigm of energy and climate change policies by introducing carbon pricing based on market mechanisms. While policy adoption is proceeding at a rapid pace, the introduction of carbon pricing has been faced with great opposition from industry. This study measures to what extent Korean companies understand and accept carbon pricing, using data from a questionnaire survey covering energy consuming companies in 2012, when discussions between the government and such companies about the introduction of a domestic emission trading system were active. It further identifies how preparations and practices for carbon and energy management of companies correlate with their policy understanding and acceptance. The analysis results show that the surveyed companies indicate moderate understanding of, as well as resistance to carbon pricing policies, while appreciating the economic incentives and accepting the mandatory regulations in this phase. Companies' understanding is more related to characteristics, i.e., sector, size, etc. than external pressures. This study found that the extent to which companies understand policy is the essential factor in their policy acceptance and related practices. In particular, understanding of carbon policy significantly influences their managerial practices and voluntary activities for carbon and energy practices. This study substantiates the correlation between the level of policy understanding of a company and its carbon and energy practices - something that all countries seeking to introduce carbon pricing in response to climate change should consider prior to policy actually being implemented; in other words, enhancing the understanding of major policy subjects of the new instrument is a key policy strategy that should be elaborated as it will lead to better performance of companies and smoother policy implementation.

Optimal LNG Procurement Policy in a Spot Market Using Dynamic Programming (동적 계획법을 이용한 LNG 현물시장에서의 포트폴리오 구성방법)

  • Ryu, Jong-Hyun
    • Journal of Korean Institute of Industrial Engineers
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    • v.41 no.3
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    • pp.259-266
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    • 2015
  • Among many energy resources, natural gas has recently received a remarkable amount of attention, particularly from the electrical generation industry. This is in part due to increasing shale gas production, providing an environment-friendly fossil fuel, and high risk of nuclear power. Because South Korea, the world's second largest LNG importing nation after Japan, has no international natural gas pipelines and relies on imports in the form of LNG, the natural gas has been traditionally procured by long term LNG contracts at relatively high price. Thus, there is a need of developing an Asian LNG trading hub, where LNG can be traded at more competitive spot prices. In a natural gas spot market, the amount of natural gas to be bought should be carefully determined considering a limited storage capacity and future pricing dynamics. In this work, the problem to find the optimal amount of natural gas in a spot market is formulated as a Markov decision process (MDP) in risk neutral environment and the optimal base stock policy which depends on a stage and price is established. Taking into account price and demand uncertainties, the basestock target levels are simply approximated from dynamic programming. The simulation results show that the basestock policy can be one of effective ways for procurement of LNG in a spot market.

A 3 V 12b 100 MS/s CMOS D/A Converter for High-Speed Communication Systems

  • Kim, Min-Jung;Bae, Hyuen-Hee;Yoon, Jin-Sik;Lee, Seung-Hoon
    • JSTS:Journal of Semiconductor Technology and Science
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    • v.3 no.4
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    • pp.211-216
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    • 2003
  • This work describes a 3 V 12b 100 MS/s CMOS digital-to-analog converter (DAC) for high-speed communication system applications. The proposed DAC is composed of a unit current-cell matrix for 8 MSBs and a binary-weighted array for 4 LSBs, trading-off linearity, power consumption, chip area, and glitch energy with this process. The low-glitch switch driving circuits are employed to improve linearity and dynamic performance. Current sources of the DAC are laid out separately from the current-cell switch matrix core block to reduce transient noise coupling. The prototype DAC is implemented in a 0.35 um n-well single-poly quad-metal CMOS technology and the measured DNL and INL are within ${\pm}0.75$ LSB and ${\pm}1.73$ LSB at 12b, respectively. The spurious-free dynamic range (SFDR) is 64 dB at 100 MS/s with a 10 MHz input sinewave. The DAC dissipates 91 mW at 3 V and occupies the active die area of $2.2{\;}mm{\;}{\times}{\;}2.0{\;}mm$

Assessment of Transmission Losses with The 7th Basic Plan of Long-term Electricity Supply and Demand (7차 전력수급계획에 따른 송전계통 손실 분석에 관한 연구)

  • Kim, Sung-Yul;Lee, Yeo-Jin
    • The Transactions of the Korean Institute of Electrical Engineers P
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    • v.67 no.2
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    • pp.112-118
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    • 2018
  • In recent years, decentralized power have been increasing due to environmental problems, liberalization of electricity markets and technological developments. These changes have led to the evolution of power generation, transmission, and distribution into discrete sectors and the division of integrated power systems. Therefore, studies are underway to efficiently supply power and reduce losses to each sector's demand. This is a major concern for system planners and operators, as it accounts for a relatively high proportion of total power, with a transmission and distribution loss of 4-6%. Therefore, this paper analyzes the status of loss management based on the current transmission and distribution loss rate of each country and transmission loss management cases of each national power company, and proposes a loss rate prediction algorithm according to the long-term transmission system plan. The proposed algorithm predicts the demand-based long-term evolution and the loss rate of the grid to which the transmission plan is applied.

Current Status and Prospect of Qauality Evaluation in Maize (옥수수의 품질평가 현황과 전망)

  • 김선림;문현귀;류용환
    • KOREAN JOURNAL OF CROP SCIENCE
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    • v.47
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    • pp.107-123
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    • 2002
  • This paper is intented to present a information of various aspects of quality related characteristics and standards for grades in maize. Maize is world's one of the three most popular cereal crops and a primary energy supplement and can contribute up to 30, 60, and 98% of the dairy diet's protein, net energy, and starch, respectively. Maize is also processed into industrial goods by wet or dry milling. Sweet corn is a leader among vegetable crops and its production for fresh or processing markets is a major industry in many countries. Over the years, the combined efforts of breeders and geneticists, biochemists, food scientists, and others have helped bring us to the point where we understand issues related to sweet corn quality. Traditional criteria for selecting corn hybrids have been based primarily on agronomic factors, including grain production, disease resistance, drought tolerance, and storage characteristics. Little emphasis has been placed on the quality and nutritional values of corn. Although there is widespread interest for value-enhanced corns have increased tremendously in the last five years, there is limited information available on the production and comparing the quality attributes of specialty grains with those of normal yellow dent corn. Most countries have developed national maize standards, aiming to provide a framework for trade, both internal and external. Where trading involves direct choice and price negotiation in front of the commodity, grading standards are rarely employed; quality is assessed visually and is influenced by end-use, and the price is determined more by local rather than national factors. The use of an agreed standard will provide an unambiguous description of the quality of the consignment and assist in the formation of a legally-binding contract. Standards can also be seen to protect consumers rights through setting limits to the amount of unsuitable or noxious material.