How do private consumers adapt to changes to energy prices, in particular do they invest in energy-saving measures? We study this question in the context of the rapid rise in energy prices caused by the Russian invasion of Ukraine in February 2022 and the demand for energy efficiency in the UK...

Increasing shares of wind and solar generation serve to decarbonize electricity generation; however, their temporal and spatial variability poses challenges in grid operation. While grid expansion is restricted in the medium term, storage technologies can potentially increase the power...

The importance of new and renewable en-ergy has been drawing attention since the Paris Climate Agreement was adopted in 2015. In response to the Paris Climate Agreement, the Korean government declared carbon neutrality by 2050 and announced policy plans to create a low-carbon ecosystem in 2020....

In the wake of recent energy crisis, the importance of stable prices from long-term cross-border markets for consumers and instruments for market players to hedge against spot market volatility is greater still. This research proposes the Joint Energy and Transmission Right Auction (JETRA)...

Real-time pricing demand response programs (RTP-DRPs) are practical measures that ensure the end user’s profitability from using electricity by adjusting the supply and demand equilibrium without activating costly solutions. This study explores the potential of RTP-DRPs by developing and...

China has formulated the carbon emissions trading (CET) system and renewable portfolio standards (RPS) to address climate change. Meanwhile, the construction of the single provincial electricity market and intra-provincial -interprovincial coupling electricity market is underway in China. This...

From employment to education, many areas of our daily lives have gone virtual, including the virtual workplace and virtual classes. By comparison, the way we generate, deliver, and consume electricity is an anachronism. And the electric industry’s outdated business model and regulatory...

This paper focuses on the developments of energy prices since mid-2021 and assesses their impact on euro-area headline inflation, also considering the indirect transmission through the core and food components. We find that, while the contribution of energy inflation to core and food inflation...

Energy prices have risen sharply as a result of the coronavirus pandemic as well as the Russian attack on Ukraine in February 2022. The resulting consumer price inflation is forcing the European Central Bank (ECB) to act in accordance with its mandate. However, the ECB expresses doubts that it...

Renewable energy installations are rapidly gaining market share due to falling technology costs and supportive policies. Meanwhile, the energy price crisis resulting from the Russian-Ukrainian war has shifted the energy policy debate toward the question of how consumers can benefit more from the...

How do private consumers adapt to changes to energy prices, in particular do they invest in energy-saving measures? We study this question in the context of the rapid rise in energy prices caused by the Russian invasion of Ukraine in February 2022 and the demand for energy efficiency in the UK...

This paper studies the effect of a shock in the hospitality sector, namely the energy price increase, with stated preference methods and performs the subsequent analysis with a mixture of quantitative and qualitative tools. The hospitality sector is very important and is the backbone of the...

We use a Bayesian Threshold Vector Autoregression model identified through sign and narrative restrictions to uncover non-linearities in the propagation of energy supply shocks. We find that the transmission of energy supply shocks on consumer prices is stronger in high-inflation regimes,...

The energy sector has to transform itself to adapt in the wake of climate change and increasing emissions from greenhouse gases (GHGs). Energy prices have risen dramatically in recent months due to a number of factors, including demand from emerging economies, geopolitical tensions in countries...

This article empirically investigates the impact of GPR (geopolitical risk) and its subdivided indices on the volatility of energy prices and whether they have predictive power for the volatility of energy futures prices. The single factor, double factor GJR-GARCH-MIDAS models, are applied for...

This study investigates whether energy prices and macroeconomic indicators are determinants of the European Union Allowance (EUA) prices and how their relationships changed in phase III of the European Union Emission Trading Schema (EU ETS). A novel partial least squares (PLS) regression for...

In this new era of energy transition, access to reliable and correctly functioning electricity markets is a huge concern for all economies. The restructuring path taken by most electricity markets involves the movement towards green generation structures and the increasing integration of wind...

We propose two robust bootstrap-based simultaneous inference methods for time series models featuring time-varying coefficients and conduct an extensive simulation study to assess their performance. Our exploration covers a wide range of scenarios, encompassing serially correlated,...

This paper studies the conduct of monetary policy in presence of heterogeneous exposure to energy price shocks between the employed and the unemployed, as it is documented by data from the euro area Consumer Expectation Survey. I account for this evidence into a tractable Heterogeneous-Agent New...

Energy communities often lack authority for establishment and operation management. Municipal authorities could take the role of such community operators. Therefore, Local Sustainable Municipalities (LSM) are introduced, providing a local energy market on the municipal level with inclusion of...

In 2022, the European Union (EU) has managed to safeguard security of energy supply during a perfect storm. As we leave the peak of the crisis behind us, the EU now needs to deal with its longer-term industrial repercussions. The price of energy will likely stay above historic levels and above...