Risk and Abnormal Returns in Markets for Congestion Revenue Rights

In organized energy markets that use locational pricing, power generators and energy suppliers procure financial transmission rights (FTRs) to hedge against grid con- gestion charges, while third-party speculators attempt to capture a return with these extremely volatile contracts. This paper develops a novel methodology for estimating the systematic risk of individual FTRs and detecting the presence of abnormal returns among these financial instruments. The prevalence of congestion paths with abnormal returns could be used by policy experts as an efficiency measure when assessing the performance of FTR markets. Being the only organized energy market in the Western Interconnection, California has implemented a version of FTRs officially known as congestion revenue rights (CRRs). This paper applies the proposed methodology to all auctioned CRRs from 2009 to 2015. Our analysis identifies the paths that exhibit persistent abnormal returns, with the majority of them being positive. We also compare the patterns of risk and abnormal returns between on-peak and off-peak CRRs, and find no significant differences

Curriculum That is Not Yet Independent

The "kurikulum merdeka" and “asesmen nasional” are part of the "merdeka belajar" policy that has been gradually implemented since 2020. In terms of implementation, the readiness of regions and schools varies, as experienced in the Mentawai Islands Regency. The author is interested in examining the reality and challenges of implementing this policy. The focus of this article is, first, to describe the potential of education starting from schools, students, teacher competencies, and the allocation of education budgets. Second, to describe the results of the implementation of the "Merdeka Curriculum" and the national assessment in all elementary schools in the Mentawai Islands Regency. The method used is a literature review, with secondary data sourced from journals, books, regional education reports, and the county's educational reports. The results found are as follows: 40 elementary school students have dropped out, out of 1,322 elementary school educators, only 19.1% are certified, and 80.9% are not certified. Teachers with qualifications appropriate for their roles make up 89.4%, while those not meeting the qualifications account for 10.6%. In 2022, the county government allocated a budget of Rp 716.6 billion from the APBD for the education sector. The readiness level for the implementation of the "Merdeka Curriculum" includes 97 schools that are “mandiri belajar,” 16 schools that have “mandiri berubah”, and no schools currently “mandiri berbagi.” The student literacy achievement is the lowest in the entire Sumatera Barat region, ranking 17th out of 19 cities/counties in Sumatera Barat for numeracy achievement, while student character development achievement is still at an early stage. These conditions indicate that education and the curriculum in the Mentawai Islands Regency are not fully independent

Edenic Children and Unripened Fruit: Anthropological and Botanical Immaturity in the Ethiopic Mystery of the Judgment of Sinners

In the late thirteenth or early fourteenth century, scribes around Lake Tana in northwestern Ethiopia translated and disseminated an Arabic apocryphal dialogue between Jesus and Peter. Recording exhortations and revelations meant to be passed on to Clement of Rome and other apostolic figures, the Mystery of the Judgment of Sinners (Myst. Sinners) contains a little-explored retelling of Genesis 2–3. In its rendition of the Adam and Eve’s time in the Garden of Eden, Jesus explains to Peter how commandment not to the tree of the knowledge of good and evil was a test of their patience. In particular, Adam and Eve are marked as 'children‛ and the fruit in terms of its 'ripeness‛ or lack thereof. Here, I want to contextualize this claim of a dual immaturity between both the humans and plants in the Garden of Eden in terms of early Christian theological claims about the youth and imperfection of Adam and Eve.A finales del siglo XIII o principios del XIV, los escribas de los alrededores del lago Tana, en el noroeste de Etiopía, tradujeron y difundieron un diálogo árabe apócrifo entre Jesús y Pedro. El Misterio del juicio de los pecadores (Myst. Sinners), que registra exhortaciones y revelaciones destinadas a ser transmitidas a Clemente de Roma y otras figuras apostólicas, contiene una narración poco explorada de Génesis 2–3. En su interpretación del tiempo de Adán y Eva en el Jardín del Edén, Jesús le explica a Pedro cómo el mandamiento de no tomar el árbol del conocimiento del bien y del mal fue una prueba de su paciencia. En particular, Adán y Eva son marcados como 'hijos‛ y el fruto en términos de su 'madurez‛ o falta de ella. Aquí, quiero contextualizar esta afirmación de una doble inmadurez entre los humanos y las plantas en el Jardín del Edén en términos de las afirmaciones teológicas de los primeros cristianos sobre la juventud y la imperfección de Adán y Eva

THE FUNCTIONS OF NOUN CLAUSES IN LET’S LEARN ENGLISH TEXTBOOKS

This study examines the functions of noun clauses in Let’s Learn English textbooks from the first grade until the third grade. The data are examined by using distributional method  proposed by Sudaryanto (1988). The data are classified based on their functions as proposed by Quirk et al  (1985). Noun clauses have nine functions, they are subject, direct object, subject complement, object complement, prepositional complement, adjectival complementation,  extraposed subject,  appositive, and  adverbial. The result of the analysis shows  that the frequencies of noun clauses in the first grade until the third grade textbooks are not stable. This will make students can not fully understand about the   functions of noun clauses. Therefore, Let’s Learn English as a teaching material is inadequate in providing lesson about types and functions of noun clauses

Study of fluorine behaviour in silicon by selective point defect injection

This letter reports a point defect injection study of 185 keV 2.3x1015cm?2 fluorine implanted silicon. After an inert anneal at 1000°C, fluorine peaks are seen at depths of 0.3Rp and Rp and a shoulder between 0.5–0.7Rp. The shallow peak (at 0.3Rp) is significantly smaller under interstitial injection than under both inert and vacancy injection conditions. For a longer anneal under interstitial injection, both the shallow peak and the shoulder are eliminated. These results support earlier work suggesting that the shallow fluorine peak is due to vacancy-fluorine clusters which are responsible for suppression of boron thermal diffusion in silicon. The elimination of the shallow fluorine peak and the shoulder is explained by the annihilation of vacancies in the clusters with injected interstitials

The Impact of a Universally Designed, Inclusive Third Level Education Programme for Adults with Intellectual Disabilities in a Dublin College

The right to an inclusive education is explicitly stated in Article 24 of the United Nations Convention on the Rights of Persons with Disabilities (UNCRPD 2016). The term Inclusion is significant, and it has replaced the preceding term Integration. Where integration may simply involve a student with a disability being placed in a mainstream setting, inclusion involves a focus on the experience of that student, removing barriers and supporting the student to participate in the educational process in the same way as their non-disabled peers. Integrated education in Ireland has been part of education policy since 1993 when a report recommended ‘as much integration as is appropriate and feasible with as little segregation as is necessary’. (Department of Education and Science 1993, p.22) At around the same time The Salamanca Statement (Unesco 1994) put Inclusive education on the international stage claiming that .... those with special educational needs must have access to regular schools which should accommodate them within a child centred pedagogy capable of meeting these needs (UNESCO 1994, p.viii). Ireland\u27s policy has moved towards inclusion with many references to \u27Inclusive education\u27 in the Education for People with Special Educational Needs Act (2004) This move towards inclusive education has been reflected in the allocation of increased resources (teaching hours and special needs assistants) to children with various disabilities in mainstream schools. In 2015/16 over 29,000 students with special educational needs were supported by Special Needs Assistants and almost 53,000 students received additional teaching supports within mainstream schools. (NCSE 2016, p.13) While many may argue that the supports remain insufficient, there is no doubt that the resources for inclusive education have increased significantly over the past three decades in school settings

This Terrible Silence

This Terrible Silence is a collection of nineteen stand-alone stories. The work largely focuses on characters on the fringe of society—alcoholics, gamblers, thieves, liars, cheaters, and loners, who feel trapped or destined to repeat their troubles. In the struggle to break free, either by self-fulfillment or outside interference, these stories showcase the characters’ hearts and wills in the face of often daunting or insurmountable desperation. The stories in this collection are influenced by the work of Raymond Carver, and the Dirty Realism of Larry Brown, Breece DJ Pancake, Jayne Anne Phillips, and others. With minimal exposition, the characters are laid bare with cutting dialogue and active, scenic description. In the title piece, the narrator intends to tell a man vs. nature story of his encounter with a cougar, but quickly dissolves into a battle with his own slipping mental health in the face of a failing relationship. In the first-person point of view, the act of telling the story holds its own exigency for the narrator’s need to understand his or her motives and desires, as is most evident in Carver’s work, such as “Cathedrals.” In theme and style, I’ve sought to put together a collection that might allow readers to find truth and empathy from common, low, sometimes immoral, but largely human characters

Parishioner Labor in the Late Medieval Parish of Ashburton

Parishioners in the late medieval parish of Ashburton used physical labor to create, maintain, and repair their parish church itself and its contents. Of the fourteen men featured in this study some worked on the church\u27s seating, book collection, and organs while others labored on two extensive projects concerning the repair of the church\u27s spire and the construction of the roodloft. The parish\u27s extensive set of churchwardens\u27 accounts provides record of the labor that these men completed and their compensation, allowing for a detailed analysis of their contributions. With most parish studies focusing on parishioner participation through fundraising efforts, monetary donations, or deathbed bequests, a study of parishioner labor reveals another significant method of individuals\u27 contributions to their parish community. Through their labor, these fourteen parishioners helped to establish and enhance the visual culture of their own parish church

Determination Of The Suspect Of Decency Crime In Police Resort Kudus (Case Study in the PPA Police Kudus)

Act No. 17 of 2016 concerning Second Amendment Act No. 23 of 2002 on the Protection of Children into the law on protection of children. The Criminal Code decency criminal acts against children stipulated in the Criminal Code in Chapter XIV of Article 287, Article 289, Article 290, Article 292, Article 293, Article 294, Article 295 and Article 296 of the Criminal Code.  Sanction criminal acts of decency against Children in the Child Protection Act provided for in Article 81, 81A and 82, it is as chapter to ensnare AD bin SPT has committed the crime of DSH.Determination Mechanism Crime Suspect Actor of Decency, a complaint go to the police station, Disposition down unit further women's and children Women and Children Services Unit conducted an investigation. Investigations completed his case to determine whether the elements of a criminal offense are met, if the elements are met and the initial evidence, then the police can determine the suspect's Women and Children Unit subsequently conducted investigation against the suspect to complete the examination of the case file. Barriers or obstacles, namely victims and their families did not immediately report to the police, in providing materially incomplete, the loss of evidence and the suspect fled. Solutions to overcome obstacles or barriers that Police (Policewoman) conduct a personal approach to the victim with the intention of victims give full details, the investigators provide a special place to do the investigation, victims and their families can request legal considerations with the investigator, with the purpose of the case is not protracted and can be immediately handled.Take quick decisions to prevent criminals escaping decency.Keywords: Determination of the Suspect; Decency Criminal Acts and Children

Is Something Amiss? A Commentary on the Aftermath of Phillips v. AWH Corp.

In Phillips v. AWH Corp., decided en banc in July of 2005, the Federal Circuit held that dictionaries or other similar sources may be used to assist a construing court in its quest to interpret the claim language, but must take an inferior role to the meanings of claim terms as they would be understood by one of ordinary skill in the art in view of the intrinsic evidence. The court further noted that the usage of a term in the specification is the single best guide to the meaning of [a] disputed term. This decision reversed the court\u27s opinion in Texas Digital Inc. v. Telegenix, Inc. (2002) where the court had held that dictionaries and the like are particularly useful resources to assist the court in determining the ordinary and customary meanings of claim terms, and should be consulted before referencing the specification and prosecution history in an attempt to prevent limitations from being read into the claims. In rejecting this approach, the Phillips court stated that, If the District Court starts with the broad dictionary definition in every case and fails to fully appreciate how the specification implicitly limits definition, the error will systematically cause the construction of the claim to be unduly expansive. The article’s topic considers the aftermath of Phillips. The Federal Circuit has already revisited this issue several times since July 2005, and it is drawing much attention from practitioners. One of the main purposes of my article is to profile these post-Phillips cases and their effects. The article also introduces several considerations for the patent prosecutor in the aftermath of Phillips