Market and Economic Modelling of the Intelligent Grid: Interim Report 2011

The overall goal of Project 2 has been to provide a comprehensive understanding of the impacts of distributed energy (DG) on the Australian Electricity System. The research team at the UQ Energy Economics and Management Group (EEMG) has constructed a variety of sophisticated models to analyse the various impacts of significant increases in DG. These models stress that the spatial configuration of the grid really matters - this has tended to be neglected in economic discussions of the costs of DG relative to conventional, centralized power generation. The modelling also makes it clear that efficient storage systems will often be critical in solving transient stability problems on the grid as we move to the greater provision of renewable DG. We show that DG can help to defer of transmission investments in certain conditions. The existing grid structure was constructed with different priorities in mind and we show that its replacement can come at a prohibitive cost unless the capability of the local grid to accommodate DG is assessed very carefully.Distributed Generation. Energy Economics, Electricity Markets, Renewable Energy

Smart Grid Technologies in Europe: An Overview

The old electricity network infrastructure has proven to be inadequate, with respect to modern challenges such as alternative energy sources, electricity demand and energy saving policies. Moreover, Information and Communication Technologies (ICT) seem to have reached an adequate level of reliability and flexibility in order to support a new concept of electricity network—the smart grid. In this work, we will analyse the state-of-the-art of smart grids, in their technical, management, security, and optimization aspects. We will also provide a brief overview of the regulatory aspects involved in the development of a smart grid, mainly from the viewpoint of the European Unio

The main frameworks of the national programme for the reduction of emissions: towards the national programme for low-emission economic development. the public board’s role

European climate and energy policy will have a great impact on the European and Polish energy markets. Moreover, it will have an influence on broad realms of social and economic activity. This raises the necessity of taking concrete strategic measures, especially on the governmental level. EU climate and energy policy also entails sizeable investment requirements and places important demands on the modernization programme for the energy sector. This spells the need to develop broad dialogue between the government and society. The above gives the background behind the appointment of the biggest Polish think tank in 2009 – namely, the Public Board of the National Programme for the Reduction of Emissions. In the Polish context the authors herein analyze the European climate and energy package, European Union policy regarding the reduction of emissions, and the Polish efforts taken in this field. The authors also describe the role of the Public Board of the National Programme for the Reduction of Emissions and its tasks. In conclusion they present policy recommendations and results in the area of fulfilling European obligations and conducting an infrastructural modernization programme in Poland.Emission Trading System, energy, reduction of emissions, energy market, energy policy, climate and energy package

A conceptual framework for changes in Fund Management and Accountability relative to ESG issues

Major developments in socially responsible investment (SRI) and in environmental, social and governance (ESG) issues for fund managers (FMs) have occurred in the past decade. Much positive change has occurred but problems of disclosure, transparency and accountability remain. This article argues that trustees, FM investors and investee companies all require shared knowledge to overcome, in part, these problems. This involves clear concepts of accountability, and knowledge of fund management and of the associated ‘chain of accountability’ to enhance visibility and transparency. Dealing with the problems also requires development of an analytic framework based on relevant literature and theory. These empirical and analytic constructs combine to form a novel conceptual framework that is used to identify a clear set of areas to change FM investment decision making in a coherent way relative to ESG issues. The constructs and the change strategy are also used together to analyse how one can create favourable conditions for enhanced accountability. Ethical problems and climate change issues will be used as the main examples of ESG issues. The article has policy implications for the UK ‘Stewardship Code’ (2010), the legal responsibilities of key players and for the ‘Carbon Disclosure Project’