Understanding the Determinants of Electricity Prices and the Impact of the German Nuclear Moratorium in 2011

This paper shows how the effect of fuel prices varies with the level of electricity demand. It analyzes the relationship between daily prices of electricity, natural gas and carbon emission allowances with a vector error correction model and a semiparametric varying smooth coef- ficient model. The results indicate that the electricity price adapts to fuel price changes in a long-term cointegration relationship. Different electricity generation technologies have distinct fuel price dependencies, which allows estimating the structure of the power plant portfolio by exploiting market prices. The semiparametric model indicates a technology switch from coal to gas at roughly 85% of maximum demand. It is used to analyze the market impact of the nuclear moratorium by the German Government in March 2011. Futures prices show that the market efficiently accounts for the suspended capacity and expects that several nuclear plants will not be switched on after the moratorium.Electricity Market; Merit Order; Cointegration; Varying Coefficient; Nuclear Moratorium

Study of laser heated propulsion devices. Part 2: Assessment of laser propulsion modeling and simulation requirements

Theoretical models for the laser heated thruster are reviewed. The requirements for an improved laser heated thruster theoretical model are discussed. The application of a time dependent finite difference Navier-Stokes equation solution to the laser heated thruster problem is described, along with a simple closed form solution which was developed in order to gain insight into the difficulties encountered in the pursuit of the numerical solution

Mass Transfer in a closed stirred gas/liquid contactor: Part 2: The liquid phase mass transfer coefficient kL

The liquid phase mass transfer coefficient kL for the absorption of oxygen in tap water and in ionic solutions has been calculated from the quotien\ud \ud It is concluded that the liquid phase mass transfer coefficient is roughly proportional to the stirrer speed. The gas fraction e apparently has littl

Hypersonic flow of air past a circular cylinder with non-equilibrium oxygen dissociation including dissociation of the free stream

Hypersonic inviscid flow past a circular cylinder with nonequilibrium oxygen dissociation and dissociation of the free strea

Mass Transfer in a closed stirred gas/liquid contactor: Part 1: The mass transfer rate kLS

Liquid phase mass transfer rates kLS for the absorption of oxygen in tap water and in aqueous ionic solutions have been determined in two closed stirred tank contactors for a power input between 3 and 70 W/kg and (impeller diameter)f(tank diameter) ratios DifT of 0.3, 0.35 and 0.4. The contactors had diameters\ud of 0. I9 and 0.6 m. The dispersed phase fraction was 1% by volume in all experiments. The values of kLS were determined using two different techniques:\ud (1) a transient physical absorption method; and (2) the sulphite method

Understanding the Determinants of Electricity Prices and the Impact of the German Nuclear Moratorium in 2011

This paper shows how the effect of fuel prices varies with the level of electricity demand. It analyzes the relationship between daily prices of electricity, natural gas and carbon emission allowances with a vector error correction model and a semiparametric varying smooth coef- ficient model. The results indicate that the electricity price adapts to fuel price changes in a long-term cointegration relationship. Different electricity generation technologies have distinct fuel price dependencies, which allows estimating the structure of the power plant portfolio by exploiting market prices. The semiparametric model indicates a technology switch from coal to gas at roughly 85% of maximum demand. It is used to analyze the market impact of the nuclear moratorium by the German Government in March 2011. Futures prices show that the market efficiently accounts for the suspended capacity and expects that several nuclear plants will not be switched on after the moratorium

Empirical Essays on Energy Economics

The main part of this thesis consists of three distinct essays that empirically analyze economic issues related to energy markets in the United States and Europe. The first chapter provides an introduction and discusses the motivation for the different analyses pursued in this thesis. The second chapter examines attention effects in the market for hybrid vehicles. We show that local media coverage, gasoline price changes and unprecedented record gasoline prices have a significant impact on the consumers' attention. As attention is not directly observable, we analyze online search behavior as a proxy for the revealed consumer attention. Our study is based on a unique weekly panel dataset for 19 metropolitan areas in the US. Additionally, we use monthly state-level panel data to show that the adoption rate of hybrid vehicles is robustly related to our measure of attention. Our results show that the consumers' attention fluctuates strongly and systematically. The third chapter shows how the effect of fuel prices varies with the level of electricity demand. It analyzes the relationship between daily prices of electricity, natural gas and carbon emission allowances with a semiparametric varying smooth coefficient cointegration model. This model is used to analyze the market impact of the nuclear moratorium by the German Government in March 2011. Futures prices of electricity, natural gas and emission allowances are used to show that the market efficiently accounts for the suspended capacity and correctly expects that several nuclear plants will not be switched on after the moratorium. In the fourth chapter, we develop a structural vector autoregressive model (VAR) for the German natural gas market. In particular, we illustrate the usefulness of our approach by disentangling the effects of different fundamental influences during four specific events: The financial crisis starting in 2008, the Russian-Ukrainian gas dispute in January 2009, the Libyan civil war in 2011 as well as the cold spell and Russian supply interruption in February 2012. Our results show that the natural gas price is affected by temperature, storage and supply shortfalls in the short term, while the long-term development is closely tied to crude oil and coal prices

Evaluation of absorption cycle for space station environmental control system application Interim report

Zero-gravity absorption refrigeration system design and performance testing for space station environmental control applicatio

The Impact of the Seidman College of Business Outreach Centers on the Grand Rapids Business Community

The purpose of this research was to explore the advisory role of selected Outreach Centers of the Seidman College of Business as led by their executive directors, and to examine the effects of their relationships with the Grand Rapids business community. For the basis of comparison the interviews included the director of one organization outside the Seidman College of Business. A qualitative approach in the form of a researcher-designed interview was used for the purpose of collecting data (Creswell, 2005). The interviews, conducted at each of the Outreach Center Offices, were designed to elicit important information regarding the Centers and their endeavors. Detailed notes were transcribed and data were hand-coded. Emerging and recurring themes revealed that the Outreach Centers hold true to the mission statement of the Seidman College of Business and are extremely effective within the local business community. They have achieved this through expert consulting and service-oriented practices that have led them to positively impact countless business entities throughout West Michigan, the Midwest, the entire country, and the world. The Outreach Centers have also developed an excellent mode of communication between the school of business and the business world, which has resulted in the sharing of ideas and many positive responses and feedback. The findings of this study have important implications for the continued success of the Grand Rapids business community and the integrated education/business model for students at the Seidman College of Business. Recommendations include future research projects that may further investigate the other 3 Outreach Centers not included in this study and other forms of community involvement within the Seidman College of Business such as career fairs, departmental career nights, graduate programs, and many other opportunities connecting students to the ‘real’ world of business