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Xuejiao Chen - One of the best experts on this subject based on the ideXlab platform.

  • a two stage inexact stochastic programming model for planning carbon dioxide Emission Trading under uncertainty
    Applied Energy, 2010
    Co-Authors: W T Chen, Xuejiao Chen
    Abstract:

    In this study, a two-stage inexact-stochastic programming (TISP) method is developed for planning carbon dioxide (CO2) Emission Trading under uncertainty. The developed TISP incorporates techniques of interval-parameter programming (IPP) and two-stage stochastic programming (TSP) within a general optimization framework. The TISP can not only tackle uncertainties expressed as probabilistic distributions and discrete intervals, but also provide an effective linkage between the pre-regulated greenhouse gas (GHG) management policies and the associated economic implications. The developed method is applied to a case study of energy systems and CO2 Emission Trading planning under uncertainty. The results indicate that reasonable solutions have been generated. They can be used for generating decision alternatives and thus help decision makers identify desired GHG abatement policies under various economic and system-reliability constraints.

  • a two stage inexact stochastic programming model for planning carbon dioxide Emission Trading under uncertainty
    Applied Energy, 2010
    Co-Authors: W T Chen, Xuejiao Chen
    Abstract:

    In this study, a two-stage inexact-stochastic programming (TISP) method is developed for planning carbon dioxide (CO2) Emission Trading under uncertainty. The developed TISP incorporates techniques of interval-parameter programming (IPP) and two-stage stochastic programming (TSP) within a general optimization framework. The TISP can not only tackle uncertainties expressed as probabilistic distributions and discrete intervals, but also provide an effective linkage between the pre-regulated greenhouse gas (GHG) management policies and the associated economic implications. The developed method is applied to a case study of energy systems and CO2 Emission Trading planning under uncertainty. The results indicate that reasonable solutions have been generated. They can be used for generating decision alternatives and thus help decision makers identify desired GHG abatement policies under various economic and system-reliability constraints. (C) 2009 Elsevier Ltd. All rights reserved.

Ying Fan - One of the best experts on this subject based on the ideXlab platform.

  • modeling the Emission Trading scheme from an agent based perspective system dynamics emerging from firms coordination among abatement options
    European Journal of Operational Research, 2020
    Co-Authors: Ying Fan, Lei Zhu, Wolfgang Eichhammer
    Abstract:

    Abstract Though sharing a similar practice form, the Emission Trading scheme is distinguished from traditional financial markets: firms coordinate three abatement options at the micro level, including allowance Trading, output adjustment, and low-carbon technology adoption. Then, at the macro level, this leads to dynamic interactions among allowance market, output market, and low-carbon technology diffusion. This is the fundamental characteristic of the Emission Trading scheme, and modeling the dynamics behind is a major difficulty for relevant studies, especially when following complexities are considered: (1) different planning horizons of the three abatement options, (2) heterogeneity among sectors and firms, and (3) details of firms’ production and optional low-carbon technologies. Aiming at this difficulty, we establish an agent-based model for the Emission Trading scheme, and within a novel multi-level time frame, the fundamental characteristic is reflected and the complexities are considered. Firms’ production and low-carbon technologies are discretely modeled at a process level from a bottom-up perspective, and based on European data, our model is calibrated to cover 5 industrial sectors, 11 Emission-intensive products, 25 production processes, and 52 low-carbon technologies. With this model, the emergence properties and uncertainty of the system are captured, and the non-linear impact of the abatement target is reflected and discussed. We find that, after a certain level, higher target leads to lower allowance price uncertainty but stronger output impact, which is a trade-off for setting the abatement target.

  • the risk spillover from economic policy uncertainties to the european union Emission Trading scheme
    arXiv: General Economics, 2020
    Co-Authors: Jiqiang Wang, Pengfei Dai, Yinpeng Liu, Jianfeng Guo, Ying Fan
    Abstract:

    The European Union Emission Trading Scheme is a carbon Emission allowance Trading system designed by Europe to achieve Emission reduction targets. The amount of carbon Emission caused by production activities is closely related to the socio-economic environment. Therefore, from the perspective of economic policy uncertainty, this article constructs the GARCH-MIDAS-EUEPU and GARCH-MIDAS-GEPU models for the impact of European and global economic policy uncertainty on carbon price fluctuations. The results show that both European and global economic policy uncertainty will exacerbate the volatility of carbon price returns, with the latter having a stronger impact. Moreover, the volatility of carbon price returns can be forecasted better with the predictor of global economic policy uncertainty. This research can provide some implications for market managers in grasping market trends and helping participants control the risk of fluctuations in carbon allowances.

  • buying green or producing green heterogeneous emitters strategic choices under a phased Emission Trading scheme
    Resources Conservation and Recycling, 2018
    Co-Authors: Lei Zhu, Linju Chen, Ying Fan
    Abstract:

    Abstract Given the heterogeneous participants and temporal breaks involved in Emission Trading, it is reasonable to find permanent deviation of these markets from a rational expectation equilibrium (REE) status. However, the REE assumption underlies most existing studies, including those focused on the price-deviation phenomenon. They tend to ignore the heterogeneity among regulated firms, as well as the effects of such heterogeneity on Emission Trading, market equilibrium, and market efficiency. For the first time, we abandon the equilibrium assumption in the analysis of Emission-Trading markets and develop an artificial market in which regulated firms are modelled as heterogeneous agents with different allowance demands, abatement costs, technology preferences, and market expectations. Their behaviours are governed by a set of pre-specified rules, rather than directed by the economic optimization goals. The firms in China’s iron and steel sector are selected for simulation. Our results identify some phenomena that can hardly be explained under a REE framework: 1) carbon price significantly fluctuates and deviates from the REE value; 2) regulated firms tend to over invest in Emission-abatement techniques, which further results in allowance over-supply in the markets; 3) while the Emission-Trading scheme does promote abatement actions among regulated firms, the theoretical arguments for its advantage in mitigation cost-saving seems illusionary. The artificial Emission market establishment here may help policy makers better understand the irrational behaviours and phenomena in real-world Emission Trading, and thereby improve the design of Emission- Trading schemes.

Claudia Kettner - One of the best experts on this subject based on the ideXlab platform.

  • the eu Emission Trading scheme sectoral allocation and factors determining Emission changes
    Journal of Environmental Economics and Policy, 2015
    Co-Authors: Claudia Kettner, Daniela Kletzanslamanig, Angela Koppl
    Abstract:

    The EU Emission Trading Scheme (EU ETS) that covers emitters from industry and energy supply representing 40 percent of the EU's greenhouse gas Emissions is the biggest implementation of a cap-and-trade scheme worldwide. In this paper, we analyse sectoral allocation caps focusing on three Emission intensive sectors ("power and heat", "cement and lime", "pulp and paper"), assess the development of Emissions and discuss the main drivers for Emissions in these sectors since the start of the EU ETS. Our analysis of allocation patterns shows that "power and heat" is the only sector permanently facing a stringent cap. The disaggregated analysis of the development of CO2 Emissions also reveals pronounced sectoral disparities, which points at differences in the availability of Emission abatement options. The data for cement and lime production show changes in CO2 intensity pointing at an increased import of clinker. For paper and pulp production and for power and heat generation improvements in Emission intensities and to a lesser extent energy intensities can be observed, reflecting the role of fuel shifts in short-term Emission reductions.

  • the future european Emission Trading scheme and its impact on biomass use
    Biomass & Bioenergy, 2012
    Co-Authors: Hannes Schwaiger, Andreas Tuerk, Naomi Pena, Jos Sijm, Antti Arrasto, Claudia Kettner
    Abstract:

    Based on research carried out within the NoE, this paper assesses possible impacts of changes to the European Emission Trading Scheme on solid and the possible future inclusion of liquid biomass use in the EU. Based on these assessments, recommendations are outlined for optimising support for solid and liquid biofuels. In December 2008 the European Council agreed on the European Energy and Climate Package. This agreement contains fundamental changes to the European Emission Trading Scheme (EU-ETS), which started in 2005. With some exceptions, Emissions allowances in the power sector will be auctioned starting with the third Trading period of the scheme in 2013. This may have significant impacts on the sector’s fuel mix and investment decisions. To the extent to which the EU-ETS results in a price on CO2 Emissions, it increases the competitiveness of low carbon fuels. Under current regulations no CO2 Emissions are attributed to combustion of biomass, thus it functions as a zero-carbon fuel. The paper shows that while the use of biomass is already viable under CO2 prices that have been reached within the EU-ETS, investments in new biomass plants need a higher price level as well as more stable prices, conditions which cannot be predicted with any confidence. The road transport sector, which has significant scope to increase its use of biofuels is currently not part of the EU-ETS, and will not be included in the third Trading period which begins in 2013 but may be included later. The likely consequences of including transportation fuels under the EU-ETS are considered as well as options which involve separate Trading schemes for liquid biofuels. The paper also reviews other Trading mechanisms which might serve as more effective vehicles for increasing the share of liquid biofuels, taking sustainability issues into account.

W T Chen - One of the best experts on this subject based on the ideXlab platform.

  • a two stage inexact stochastic programming model for planning carbon dioxide Emission Trading under uncertainty
    Applied Energy, 2010
    Co-Authors: W T Chen, Xuejiao Chen
    Abstract:

    In this study, a two-stage inexact-stochastic programming (TISP) method is developed for planning carbon dioxide (CO2) Emission Trading under uncertainty. The developed TISP incorporates techniques of interval-parameter programming (IPP) and two-stage stochastic programming (TSP) within a general optimization framework. The TISP can not only tackle uncertainties expressed as probabilistic distributions and discrete intervals, but also provide an effective linkage between the pre-regulated greenhouse gas (GHG) management policies and the associated economic implications. The developed method is applied to a case study of energy systems and CO2 Emission Trading planning under uncertainty. The results indicate that reasonable solutions have been generated. They can be used for generating decision alternatives and thus help decision makers identify desired GHG abatement policies under various economic and system-reliability constraints.

  • a two stage inexact stochastic programming model for planning carbon dioxide Emission Trading under uncertainty
    Applied Energy, 2010
    Co-Authors: W T Chen, Xuejiao Chen
    Abstract:

    In this study, a two-stage inexact-stochastic programming (TISP) method is developed for planning carbon dioxide (CO2) Emission Trading under uncertainty. The developed TISP incorporates techniques of interval-parameter programming (IPP) and two-stage stochastic programming (TSP) within a general optimization framework. The TISP can not only tackle uncertainties expressed as probabilistic distributions and discrete intervals, but also provide an effective linkage between the pre-regulated greenhouse gas (GHG) management policies and the associated economic implications. The developed method is applied to a case study of energy systems and CO2 Emission Trading planning under uncertainty. The results indicate that reasonable solutions have been generated. They can be used for generating decision alternatives and thus help decision makers identify desired GHG abatement policies under various economic and system-reliability constraints. (C) 2009 Elsevier Ltd. All rights reserved.

Zhijie Jia - One of the best experts on this subject based on the ideXlab platform.

  • can carbon tax complement Emission Trading scheme the impact of carbon tax on economy energy and environment in china
    Climate Change Economics, 2020
    Co-Authors: Zhijie Jia
    Abstract:

    The problems of excessive CO2 Emissions and global warming caused by human activities are becoming more serious. Carbon Tax (CT) and Emission Trading Scheme (ETS) are popular Emission mitigation me...

  • impacts of carbon price level in carbon Emission Trading market
    Applied Energy, 2019
    Co-Authors: Boqiang Lin, Zhijie Jia
    Abstract:

    Abstract The problems of excessive CO2 Emissions and global warming caused by human activities are becoming more and more severe. Emission Trading Scheme (ETS) may be an effective mean of combating global warming. However, little research focuses on the influence of ETS price on energy consumption, CO2 Emissions, and the economy. This paper analyzes the impact of different ETS price level by applying a dynamic recursive Computable General Equilibrium model. The results show that GDP will reduce more with increasing ETS price level. The output of energy industries is more sensitive to ETS price than other industries. Higher ETS price, lower marginal reduction of fossil energy consumption of ETS price. Moreover, low ETS prices will undermine the capacity of the carbon market to reduce Emissions. Higher ETS price will lead to a higher reduction in CO2 Emission, but the economic costs cannot be ignored. Therefore, this paper argues that ETS prices in China’s ETS pilot cities are too low, and would provide little Emission reduction. Maintaining ETS prices at $10 and gradually increasing carbon price to $20 is suggested in this paper. Also, we should focus on the appropriate subsidies for new energy generation.

  • what are the main factors affecting carbon price in Emission Trading scheme a case study in china
    Science of The Total Environment, 2019
    Co-Authors: Boqiang Lin, Zhijie Jia
    Abstract:

    Abstract Emission Trading Scheme (ETS) has the potential to influence energy consumption, environmental quality and economy directly and ETS price is the key of ETS market. On December 27, 2017, China's carbon Trading market was officially launched, which may be the largest platform of ETS in the world. Therefore, this paper seeks to assess the influencing factors of Emission Trading price (industry coverage, the annual decline factor, and free allowance rate) and analyzes the impact mechanism in detail by applying computable general equilibrium model. The results show that ETS price and Emission reduction have a significant positive correlation; key factors can impact the price significantly. Fewer industries, higher annual decline factor, and higher free allowance rate will push ETS price up. The paper also found that ETS prices are unpredictable when the mechanism is not yet fully determined. It further, argues that ETS prices are unpredictable when the mechanism is not yet fully determined because of the high relationship between ETS price and the mechanism of ETS. These findings will assist policymakers to build a healthy ETS market. The important implication is that we can adjust the market price by adjusting these mechanisms.