Auctions to gas transmission access: The British experience

When access to monopoly owned networks is constrained auctioning access rights can increase the efficiency of allocations relative to negotiation and grandfathering when there is sufficient competition among network users. Historically, access rights to entry capacity on the British gas network were granted by the monopoly network owner via negotiation; rights were later based on regulated tariffs with an increasing reliance on market based constraint resolution by the system operator. In 1999 an auction mechanism for allocating rights was introduced. Comparing the different allocation methods we conclude that where there is competition at entry terminals auctions have been successful with respect to anticipating spot prices, capturing producer rents and reducing the costs of alleviating network constraints. Moreover, auctions are more transparent and better facilitate entry.gas, network, access, auction, regulation

Improving the NRTidal model for binary neutron star systems

Accurate and fast gravitational waveform (GW) models are essential to extract information about the properties of compact binary systems that generate GWs. Building on previous work, we present an extension of the NRTidal model for binary neutron star (BNS) waveforms. The upgrades are: (i) a new closed-form expression for the tidal contribution to the GW phase which includes further analytical knowledge and is calibrated to more accurate numerical relativity data than previously available; (ii) a tidal correction to the GW amplitude; (iii) an extension of the spin-sector incorporating equation-of-state-dependent finite size effects at quadrupolar and octupolar order; these appear in the spin-spin tail terms and cubic-in-spin terms, both at 3.5PN. We add the new description to the precessing binary black hole waveform model IMRPhenomPv2 to obtain a frequency-domain precessing binary neutron star model. In addition, we extend the SEOBNRv4_ROM and IMRPhenomD aligned-spin binary black hole waveform models with the improved tidal phase corrections. Focusing on the new IMRPhenomPv2_NRTidalv2 approximant, we test the model by comparing with numerical relativity waveforms as well as hybrid waveforms combining tidal effective-one-body and numerical relativity data. We also check consistency against a tidal effective-one-body model across large regions of the BNS parameter space.Comment: Accepted manuscrip

Use of Long-term Auctions for Network Investment

Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions. In our model the fraction of rights issued in the long-term auction turns out to be a crucial design parameter. Even a `hypothetically` optimal parameter choice can in general only satisfy one of three aims: Unbiased provision of capacity, full revelation of private information and minimisation of distortions from network effects. The results suggest that long-term auctions for transmission capacity are not necessarily preferable to regulatory approved capacity expansion.Auctions, Gas, Investment, Networks, Regulation

Binary Neutron Stars with Generic Spin, Eccentricity, Mass ratio, and Compactness - Quasi-equilibrium Sequences and First Evolutions

Information about the last stages of a binary neutron star inspiral and the final merger can be extracted from quasi-equilibrium configurations and dynamical evolutions. In this article, we construct quasi-equilibrium configurations for different spins, eccentricities, mass ratios, compactnesses, and equations of state. For this purpose we employ the SGRID code, which allows us to construct such data in previously inaccessible regions of the parameter space. In particular, we consider spinning neutron stars in isolation and in binary systems; we incorporate new methods to produce highly eccentric and eccentricity reduced data; we present the possibility of computing data for significantly unequal-mass binaries; and we create equal-mass binaries with individual compactness up to 0.23. As a proof of principle, we explore the dynamical evolution of three new configurations. First, we simulate a $q=2.06$ mass ratio which is the highest mass ratio for a binary neutron star evolved in numerical relativity to date. We find that mass transfer from the companion star sets in a few revolutions before merger and a rest mass of $\sim10^{-2}M_\odot$ is transferred between the two stars. This configuration also ejects a large amount of material during merger, imparting a substantial kick to the remnant. Second, we simulate the first merger of a precessing binary neutron star. We present the dominant modes of the gravitational waves for the precessing simulation, where a clear imprint of the precession is visible in the (2,1) mode. Finally, we quantify the effect of an eccentricity reduction procedure on the gravitational waveform. The procedure improves the waveform quality and should be employed in future precision studies, but also other errors, notably truncation errors, need to be reduced in order for the improvement due to eccentricity reduction to be effective. [abridged]Comment: (37pages, 26 figures

Application of a local linearization technique for the solution of a system of stiff differential equations associated with the simulation of a magnetic bearing assembly

A digital local linearization technique was used to solve a system of stiff differential equations which simulate a magnetic bearing assembly. The results prove the technique to be accurate, stable, and efficient when compared to a general purpose variable order Adams method with a stiff option