The stabilizing effect of hydro reservoir levels on intraday power prices under wind forecast errors

The power system has to deal with three main sources of uncertainty: demand uncertainty and load prediction errors, failure of power plants and uncertainty of wind. The growing share of wind and other intermittent generation sources in the European supply increases the uncertainty about power production in day-ahead and longer-term predictions. As EU member states increase the deployment of wind power and other intermittent renewable energy sources, the intraday and balancing market will gain more interest, as additional demand for reserve and response operations is needed. Hence, it becomes relevant to analyse the effect of wind power forecasting errors on intraday power prices. A higher forecast error will increase the need of intraday markets to balance out the oversupply or deficit of wind power on an hourly basis. This oversupply or deficit can be corrected though flexible hydropower plants; however the power price is highly influenced by the fluctuations in the reservoir level (Huisman et. al [2013]). ..

Is Power Production Flexibility a Substitute for Storability? Evidence from Electricity Futures Prices

Electricity is not storable. As a consequence, electricity demand and supply need to be in balance at any moment in time as a shortage in production volume cannot be compensated with supply from inventories. However, if the installed power supply capacity is very flexible, variation in demand can be counterbalanced with flexible adjustment of production volumes. Therefore, supply flexibility can replace the role of inventory. In this paper, we question whether power production flexibility is a substitute for storability. To do so, we examine power futures prices from countries that differ in their power supply and test whether power futures prices contain information about expected future spot prices and risk premiums and examine whether futures prices from a market in which power supply is more flexible would lead to futures prices that are more in line with the theory of storage. We find the opposite; futures prices from markets with flexible power supply behave according to the expectations theory. The implicit view from futures prices is that flexibility is not a substitute for storability

Fundamental Insights in Power Futures Prices

Transformations are prevailing phenomena in the energy market. In the 1990’s the electricity market transitioned from regulated to liberalized markets, which was initiated by the objective of the European Union to create one single European electricity market. By deregulation, ending monopolies and inefficiencies one of the desired results was to lower the prices for end-users, while giving the European Union a competitive position regarding electricity for the future. In the course of deregulation, markets for financial contracts on electricity emerged and electricity became a tradable asset. Electricity was traded on the power exchanges by the new players, who appeared in the restructured electricity market: the producers, the retailers and the end-users. The publicly q

An Overview on Antiviral Potential of Traditional Medicines

Traditional medicines can serve as the source of potential new drug candidates and initial research focuses on the isolation of bioactive lead compounds. Medicinal plants have a combination of secondary metabolites that are naturally occurred by giving different therapeutic benefits. Phytoconstituents have been recognized as an important role in the drug discovery process moreover the other sources. Presently, over hundred natural product-derived pharmaceuticals are being used in modern medicine. Plants and their secondary metabolites, with activity against targets associated with the viral infections could provide valuable leads for the development into drugs for the novel antiviral drugs. Some of them play as important tools in the immune system exhibiting antiviral potentials. The objective of this review is to conduct information regarding the potential of traditional medicines to which have shown antiviral activity against SARS-CoV-2 infection

Electricity futures prices: time varying sensitivity to fundamentals

This paper provides insight in the time-varying relation between electricity futures prices and fundamentals in the form of prices of contracts for fossil fuels. As supply curves are not constant and different producers have different marginal costs of production, we argue that the relation between electricity futures prices and futures prices of underlying fundamentals such as natural gas, coal and emission rights are not constant and vary over time. We test this view by applying a model that linearly relates electricity futures prices to the marginal costs of production and calculate the log-likelihood of different time-varying and constant specifications of the coefficients. To do so, we formulate the model in state-space form and apply the Kalman Filter to observe the dynamics of the coefficients. We analyse historical prices of futures contracts with different delivery periods (calendar year and seasons, peak and off-peak) from Germany and the U.K. The results indicate that analysts should choose a time-varying specification to relate the futures price of power to prices of underlying fundamentals

Nitrate reduction in Haloferax alexandrinus: the case of assimilatory nitrate reductase

Haloferax alexandrinus Strain TM JCM 10717T = IFO 16590T is an extreme halophilic archaeon able to produce significant amounts of canthaxanthin. Its genome sequence has been analysed in this work using bioinformatics tools available at Expasy in order to look for genes encoding nitrate reductase-like proteins: respiratory nitrate reductase (Nar) and/or assimilatory nitrate reductase (Nas). The ability of the cells to reduce nitrate under aerobic conditions was tested. The enzyme in charge of nitrate reduction under aerobic conditions (Nas) has been purified and characterised. It is a monomeric enzyme (72 ± 1.8 kDa) that requires high salt concentration for stability and activity. The optimum pH value for activity was 9.5. Effectiveness of different substrates, electron donors, cofactors and inhibitors was also reported. High nitrite concentrations were detected within the culture media during aerobic/microaerobic cells growth. The main conclusion from the results is that this haloarchaeon reduces nitrate aerobically thanks to Nas and may induce denitrification under anaerobic/microaerobic conditions using nitrate as electron acceptor. The study sheds light on the role played by haloarchaea in the biogeochemical cycle of nitrogen, paying special attention to nitrate reduction processes. Besides, it provides useful information for future attempts on microecological and biotechnological implications of haloarchaeal nitrate reductases.This work was funded by research grant from the MINECO Spain (CTM2013-43147-R) and by funds from the Department of Biology, Faculty of Science, Anadolu University (Turkey)

Electricity Futures Prices

This paper provides insight in the time-varying relation between electricity futures prices and fundamentals in the form of prices of contracts for fossil fuels. As supply curves are not constant and different producers have different marginal costs of production, we argue that the relation between electricity futures prices and futures prices of underlying fundamentals such as natural gas, coal and emission rights are not constant and vary over time. We test this view by applying a model that linearly relates electricity futures prices to the marginal costs of production and calculate the log-likelihood of different time-varying and constant specifications of the coefficients. To do so, we formulate the model in state-space form and apply the Kalman Filter to observe the dynamics of the coefficients. We analyse historical prices of futures contracts with different delivery periods (calendar year and seasons, peak and off-peak) from Germany and the U.K. The results indicate that analysts should choose a time-varying specification to relate the futures price of power to prices of underlying fundamentals

Formation des Caspase Aktivierenden Komplexes und Aktivierung von Caspase-12 wahrend der Apoptose von AKR-2B Maus Fibroblasten

Der Zelltod kann in Dichte-arretierten AKR-2B Mausfibroblasten durch Entzug des Serums oder Behandlung mit Anisomycin induziert werden. Der Zelltod zeigt zwar die für die Apoptose typischen morphologischen Veränderungen der Zelle wie Zellfragmentierung und Chromatinkondensation jedoch fehlen andere apoptotische Charakteristika, wie die oligonukleosomale Fragmentierung der DNA oder Änderung des Membranpotentials der Mitochondria. Während der Apoptose wurde eine beachtliche DEVDase Aktivität nach- gewiesen, die einem einzelnen Enzym zugeordnet werden konnte. Dieses Enzym hatte typische Eigenschaften von Effektor-Caspasen, wie die der Caspase-3, besaß jedoch einen ungewöhnlich hohen KM Wert von 100 µM, und die Molmasse der großen Untereinheit betrug 19 kDa anstelle der erwarteten 17 kDa. Mit Hilfe des rekombinanten mCaspase-3 Proteins wurde dieses Enzym in der vorliegenden Untersuchung als Caspase-3 identifiziert. Die N-terminale Sequenzierung des mCaspase-3 Proteins ergab, daß sich die Spaltstelle seiner Prodomäne von der des humanen homologen Proteins unterschied (Asp-9 von Asp-28). Somit betrug die Molmasse der großen Untereinheit der aktiven Caspase-3 19 kDa. Darüberhinaus stimmte der KM-Wert der rekombinanter mCaspase-3 von ~100 µM mit der überein, die in Zellextrakten bestimmt wurde. Die Affinitätmarkierung in Kombination mit einer 2D-Gelelektrophorese bestätigte, daß tatsächlich Caspase-3 als Haupt-Effektor-Caspase in AKR-2B-Zellen während der Apoptose aktiviert wird. Im Folgenden wurde untersucht, welcher Signalwege in AKR-2B-Zellen, denen Serum aus dem Nährmedia entzogen wurden war oder die mit Anisomycin behandelt worden waren, zur Aktivierung der Caspase-3 führt. Da eine Beteiligunug des Rezeptor-vermittelte Signalweges bereits zuvor ausgeschlossen worden war,wurde überprüft, ob der mitochondrial vermittelte Signalweg bei der Aktivierung von Caspase-3 ein Rolle spielt. Gelfiltrations- experimente ergaben, daß Caspase-3 als freies Enzym und nur in geringen Mengen innerhalb unterschiedlich große Komplexe der Molmassen 600 kDa und 250 kDa eluiert wird. Obwohl die apparenten Molmassen der Caspase-3-haltigen Komplexe mit kürzlich veröffentlichten Daten übereinstimmten, enthielten sie weder Apaf-1 noch Caspase-9. Dies deutet daraufhin, daß der mitochondrial-vermittelte Signalweg ebenfalls nicht an der Caspase-3 Aktivierung beteiligt ist. Darüberhinaus wurde ein neuer Caspase-6 enthaltender Komplex (450 kDa) nach Serumentzug in AKR-2B-Zellen gefunden, der sich deutlich von Caspase-3 haltigen Komplexen unterscheidet. Caspase-3 ist für die meisten morphologische Veränderungen während der Apoptose verantwortlich. Wahrend der Apoptose in der AKR-2B-Zellen zwar Caspase-3 als Haupt-Effektor-Caspase identifiziert worden war, jedoch keine intranukleosomale Fragmentierung nachgeweisen werden konnen, da bei wurde die intrazelluläre Lokalisation der Caspase-3 untersucht. Durch Überexpression eines Caspase-3-GFP Fusionskonstruktes in AKR-2B Zellen wurde die Procaspase-3 im Cytoplasma lokalisiert, während die aktive Caspase-3 vorwiegend in membranumhüllten Vesikeln und zum Teil im Cytoplasma aktiviert wurde. Ebenfalls wurde eine mögliche Beteiligung von Caspase-12 und eine ER-Streß vermittelte Signalleitung an der Apoptose in AKR-2B-Zellen untersucht. Kinetische Untersuchungen zeigten, daß Caspase-12 im Fall von Serumentzug oder Behandlung mit Anisomycin zeitgleich mit Caspase-3 aktiviert wurde, was zur Bildung von zwei Spaltprodukte der Molmassen 47 kDa und 35 kDa führte. Gelfiltrationsexperimente ergaben, daß Caspase-12 als freies Enzym während der Apoptose auftritt. Bis zu diesem Zeitpunkt wurde in allen Publikationen beschrieben, daß Caspase-12 in Folge von ER-Streß aktiviert wird. Nach Serumentzug oder Zugabe von Anisomycin zu AKR-2B-Zellen wurde jedoch kein Anstieg der Synthese des Chaperon-Proteins Grp78, einem Marker für ER-Streß, beobachtet. Dies zeigt, daß beide Behandlungen nicht zur ER-Streß führen. Im Gegensatz dazu erzeugten bekannte Indikatoren von ER Streß wie Thapsigargin und A23187 (ionophor) ER-Streß in AKR-2B-Zellen, was zu unspezifischem Abbau der Caspase-12 führte. Darum ist es unwahrscheinlich, daß in AKR-2B- Zellen Caspase-12 bei ER-Streß aktiviert wird. Zusammenfassend zeigten diese Daten, daß Caspase-12 in AKR-2B-Zellen über Signalwegen aktiviert wird, die ER stress un- abhängig sind und zeigen daß Caspase-3 bei der Aktivierung von Caspase-12 beteiligt ist somit liefern die vorliegenden Untersuchungen einen Hinweis darauf daß neben den klassischen Signalwege weitere Signalwege existieren, die zur Apoptose führten.Density arrested AKR-2B cells die rapidly in response to serum starvation or treatment by Anisomycin. Cell death is associated with typical hallmarks of apoptosis including membrane blebbing and chromatin condensation but lacks energy dissipation in mitochondria and intranucleosomal fragmentation. During apoptosis a considerable DEVDase activity has been detected which seemed to be represented by a single enzyme. This enzyme had typical effector caspase characteristics, like caspase-3, but exhibited an unusual high KM values of ~100 µM and its large subunit exhibited a molecular weight of 19 kDa, instead of expected 17 kDa. In the present study, this enzyme was identified to be caspase-3 with the help of the generation of recombinant mcaspase-3 protein. N-terminal sequencing of the recombinant mcaspase-3 protein revealed that its prodomain cleavage site differs from that in the human homologue (Asp-9 instead of Asp-28). Thus the large subunit of active caspase-3 was found to be 19 kDa. Furthermore the KM value of recombinant mcaspase-3 was ~100 µM in perfect agreement with that found in cell extracts. Affinity labeling in combination with 2D-GE confirmed that indeed caspase-3 is activated as the main executioner in AKR-2B cells during apoptosis. Since the receptor mediated pathway has already been excluded previously [129], a possible involvement of mitochondria mediated pathway in the activation of caspase-3 was examined. Gel filtration experiments revealed that caspase-3 is mainly eluted as free enzyme and in lower levels within the differently sized high molecular weight complexes of ~600 kDa and 250 kDa in response to serum starvation or Anisomycin treatment. Though the apparent molecular weight of the complexes containing caspase-3 are in accordance with recently published data, they were devoid of Apaf-1 and caspase-9. Apparently, mitochondria mediated pathway is also not involved since neither formation of high molecular weight complexes of Apaf-1 nor cleavage of caspase-9 was observed. Thus, the activation of caspase-3 is caused by a noncanonical pathway during apoptosis. In addition a new 450 kDa complex containing activated caspase-6 was found in response to serum starvation which is clearly separated from caspase-3 containing complexes. Generally caspase-3 has been found to be responsible for most of the morphological changes during apoptosis. One of those is intranucleosomal fragmentation. Although caspase-3 was found to be the main executioner caspase in AKR-2B cells the lack of the intranucleosomal fragmentation led to examine its localization. As detected by overexpression of the Caspase-3-GFP fusion construct in AKR-2B, procaspase-3 was localized in the cytoplasm, wheras the active caspase-3 was mainly found in the membrane blebs and partially in the cytoplasm. Clearly no nuclear localization of active caspase-3 was detected. These data gave first hints on the mechanism of degradation of AKR-2B cells demonstrating that cytoplasmic membrane is the primary site of activation of caspase-3. The possible role of caspase-12 and ER stress mediated pathway of apoptosis was also examined in AKR-2B cells. Kinetic studies showed that caspase-12 is activated at the same time together with caspase-3 in response to serum starvation or Anisomycin treatment resulting in two cleavage products of 47 kDa and 35 kDa, respectively. It was therefore examined whether these two caspases were eluted in the same complexes. Gel filtration experiments revealed that caspase-12 is released as free enzyme during apoptosis. To date all the studies have identified that caspase-12 is specifically activated in response to ER stress. After serum starvation or Anisomycin addition there was no increase of the protein expression level of the chaperone protein Grp 78 which is known to be higly elevated in response to ER stress indicating that both treatments did not lead to ER stress. In contrast treatment with ER stressor substances i.e. Thapsigargin, A23187 (ionophore) induced an ER stress in AKR-2B which lead to unspecifically degradation of caspase-12. Thus it is unlikely that caspase-12 is activated in response to ER stress in AKR-2B cells. However, after the in vitro addition of recombinant caspase-3 to cytosolic extracts caspase-12 is cleaved into 47 kDa and 35 kDa fragments similiar to those observed in vivo. In conclusion the present data demostrated that caspase-12 is activated in AKR-2B cells during apoptosis triggered through pathways that do not involve (the) ER stress and provided evidence that caspase-3 might be involved in activation of caspase-12. Thus the present study in AKR-2B cells gives hints for the existence of additional pathways for apoptosis other than the classical ones