Energy storage in the UK electrical network : estimation of the scale and review of technology options

This paper aims to clarify the difference between stores of energy in the form of non-rechargeable stores of energy such as fossil-fuels, and the storage of electricity by devices that are rechargeable. The existing scale of these two distinct types of storage is considered in the UK context, followed by a review of rechargeable technology options. The storage is found to be overwhelmingly contained within the fossil-fuel stores of conventional generators, but their scale is thought to be determined by the risks associated with long supply chains and price variability. The paper also aims to add to the debate regarding the need to have more flexible supply and demand available within the UK electrical network in order to balance the expected increase of wind derived generation. We conclude that the decarbonisation challenge facing the UK electricity sector should be seen not only as a supply and demand challenge but also as a storage challenge. (c) 2010 Elsevier Ltd. All rights reserved

Decentralized investment management: evidence from the pension fund industry

The past few decades have seen amajor shift from centralized to decentralized investment management by pension fund sponsors, despite the increased coordination problems that this brings. Using a unique, proprietary dataset of pension sponsors and managers, we identify two secular decentralization trends: sponsors switched (i) from generalist (balanced) to specialist managers across asset classes and (ii) from single to multiple competing managers within each asset class. We study the effect of decentralization on the risk and performance of pension funds, and find evidence supporting some predictions of recent theory on this subject. Specifically, the switch from balanced to specialist managers is motivated by the superior performance of specialists, and the switch from single to multiple managers is driven by sponsors properly anticipating diseconomies-of-scale within an asset class (as funds grow larger) and adding managers with different strategies before performance deteriorates. Indeed, we find that sponsors benefit from alpha diversification when employing multiple fund managers. Interestingly, competition between multiple specialist managers also improves performance, after controlling for size of assets and fund management company-level skill effects. We also study changes in risk-taking when moving to decentralized management. Here, we find that sponsors appear to anticipate the difficulty of coordinating multiple managers by allocating reduced risk budgets to each manager, as predicted by recent theory, which helps to compensate for the suboptimal diversification that results through an improved Sharpe ratio. Overall, our results indicate that pension fund sponsors, at least on average, rationally choose their delegation structures.Decentralized investment management; diversification loss; coordination problems; fund manager skill; pension funds

Isolation and characterization of microsatellites in the lichen Buellia frigida (Physciaceae), an Antarctic endemic

Premise of the study: Microsatellite markers were characterized for an Antarctic endemic, Buellia frigida, to investigate population structure and origin of Antarctic lichens. Methods and Results: Five primer sets were characterized. All loci were polymorphic with eight to 16 alleles per locus in a sample of 59 lichens. Conclusions: The microsatellite markers potentially provide insight into population structure and gene flow of B. frigida

Design and Evaluation of a Collective IO Model for Loosely Coupled Petascale Programming

Loosely coupled programming is a powerful paradigm for rapidly creating higher-level applications from scientific programs on petascale systems, typically using scripting languages. This paradigm is a form of many-task computing (MTC) which focuses on the passing of data between programs as ordinary files rather than messages. While it has the significant benefits of decoupling producer and consumer and allowing existing application programs to be executed in parallel with no recoding, its typical implementation using shared file systems places a high performance burden on the overall system and on the user who will analyze and consume the downstream data. Previous efforts have achieved great speedups with loosely coupled programs, but have done so with careful manual tuning of all shared file system access. In this work, we evaluate a prototype collective IO model for file-based MTC. The model enables efficient and easy distribution of input data files to computing nodes and gathering of output results from them. It eliminates the need for such manual tuning and makes the programming of large-scale clusters using a loosely coupled model easier. Our approach, inspired by in-memory approaches to collective operations for parallel programming, builds on fast local file systems to provide high-speed local file caches for parallel scripts, uses a broadcast approach to handle distribution of common input data, and uses efficient scatter/gather and caching techniques for input and output. We describe the design of the prototype model, its implementation on the Blue Gene/P supercomputer, and present preliminary measurements of its performance on synthetic benchmarks and on a large-scale molecular dynamics application.Comment: IEEE Many-Task Computing on Grids and Supercomputers (MTAGS08) 200

Salomon Redux: The Moralities of Business

In this Essay, we revisit the Salomon case and its related litigation not only from a legal standpoint but also from a broader moral perspective. 4 In the second Part, we offer a detailed context for and account of the Salomon litigation. The third Part focuses on the historical roots of the corporation and the judicial arguments in Salomon. In the fourth Part, we explore the moral and legal consequences of the Salomon decision. Throughout the Essay, our ambition will be not only to give the Salomon case a more contextual and richer spin but also to tackle the relationship between legal principles and moral obligations in the commercial world. Taking our cue from Ambrose Bierce, we explore whether the corporation is merely “[a]n ingenious device for obtaining profit without individual responsibility,” or whether it can be appreciated as something in which individual responsibility and profit-making can be combined

Salomon Redux: The Moralities of Business

In this Essay, we revisit the Salomon case and its related litigation not only from a legal standpoint but also from a broader moral perspective. 4 In the second Part, we offer a detailed context for and account of the Salomon litigation. The third Part focuses on the historical roots of the corporation and the judicial arguments in Salomon. In the fourth Part, we explore the moral and legal consequences of the Salomon decision. Throughout the Essay, our ambition will be not only to give the Salomon case a more contextual and richer spin but also to tackle the relationship between legal principles and moral obligations in the commercial world. Taking our cue from Ambrose Bierce, we explore whether the corporation is merely “[a]n ingenious device for obtaining profit without individual responsibility,” or whether it can be appreciated as something in which individual responsibility and profit-making can be combined

The Wider Social Impacts of Changes in the Structure of Agricultural Businesses

Agricultural restructuring is not a new phenomenon. Indeed, recent decades have seen substantial changes, not only to the number and types of farmers and farm businesses, but also to ownership structures and to the relationship between land holding and management control. The Department of Food, Environment and Rural Affairs (Defra), together with the UK Countryside Agencies, has commissioned a body of research in recent years which, taken together, offer important insights into the nature, speed and extent of restructuring in the UK and of the potential for further, accelerated change in the years to come. From this body of work it is clear that a prolonged and difficult process of disengagement from agriculture as a mainstream income source is beginning to take place, with evidence of both adaptation and resistance to change by a land management community which is becoming increasingly diverse in its social composition and behaviour. The adjustment to farming practice, living standards and lifestyles which all of this implies is not without personal cost and, while claims of an agricultural crisis may be exaggerated, it is clear that large numbers of farmers are finding they have to make difficult adjustments against a shifting background of policy reform and market change. Moreover, given the traditional centrality of farmers in rural communities, both as employers and as participants in many of the key institutions of rural life, there may be wider social implications of agricultural restructuring which now deserve to be more closely investigated. What, for example is the nature, extent and wider significance of the personal costs and social implications of agricultural restructuring.Agribusiness, Industrial Organization,

Psychrometric Properties of Humid Air from Multi-Fluid Helmholtz-Energy-Explicit Models

Psychrometric properties of humid air are widely used in the analysis and modeling of thermal systems. In this work we present a method for obtaining these properties from the multi-fluid mixture formulation of the GERG mixture model. This mixture model was originally developed to model the thermodynamics of natural gas mixtures, and now has been extended to model thermodynamic properties relevant for carbon capture and storage. The primary advantage of this formulation is that the dry air composition is not fixed, and can be adjusted to suit the application, for instance in submarines, for Martian atmospheres, etc. We present an algorithm that can be used to calculate the saturated vapor water composition in vapor-liquid equilibrium, and other properties that arise out of this equilibrium calculation, such as relative humidity and dewpoints. Solid-vapor equilibrium is not considered, and neither is the calculation of wet-bulb temperatures

Comparing total and accessible concentrations of hydrophobic organic contaminants in sediments and suspended particulate matter in the Danube River

Contamination of aquatic ecosystems by hydrophobic organic contaminants (HOCs) is often assessed based on their concentrations in riverbed sediment and suspended particulate matter (SPM). However, total HOC concentration (CTOT) in sediment or SPM is of limited value for evaluating the exposure of benthic or pelagic organisms. The accessible HOC concentration (CAS) presents a useful parameter quantifying the overall pool of HOC in sediment or SPM available for fast partitioning to the water phase or biota. We applied a novel approach of ex situ sequential equilibrium partitioning with silicone elastomer sampler at a high sampler/SPM phase ratio to measure CAS of HOC in SPM from the Danube River. We compared CTOT and CAS in SPM and surface layer sediment collected at the same sites to evaluate whether HOC monitoring in the two matrices provides equivalent information on environmental quality. At most sites, there was a good agreement and correlation of organic carbon (OC)-normalised CTOT in SPM and sediment for polychlorinated biphenyls (PCBs) and the majority of organochlorine pesticides (OCPs). In contrast, CTOT of polycyclic aromatic hydrocarbons (PAHs) in SPM were up to a factor 10 lower in SPM than in sediment. Site-specific differences of OC-normalised CAS concentrations in SPM and sediments were observed for PCBs and OCPs, with accessibility mostly lower in SPM than in sediment. The highest accessibility in SPM was observed for PCBs, ranging between 15 and 30%. The accessibility of OCPs varied from 0 to 23%. SPM and riverbed sediment samples provide complementary but not mutually interchangeable information on HOC contamination.acceptedVersio