The Experts below are selected from a list of 360 Experts worldwide ranked by ideXlab platform
Steven A Gabriel - One of the best experts on this subject based on the ideXlab platform.
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an sos1 based approach for solving mpecs with a natural Gas Market application
Networks and Spatial Economics, 2013Co-Authors: Sauleh Siddiqui, Steven A GabrielAbstract:This paper presents a new method for solving mathematical programs with equilibrium constraints. The approach uses a transformation of the original problem via Schur’s decomposition coupled with two separate formulations for modeling related absolute value functions. The first formulation, based on SOS1 variables, when solved to optimality will provide a global solution to the MPEC. The second, penalty-based formulation is used to heuristically obtain local solutions to large-scale MPECs. The advantage of these methods over disjunctive constraints for solving MPECs is that computational time is much lower, which is corroborated by numerical examples. Finally, an application of the method to an MPEC representing the United States natural Gas Market is given. Copyright Springer Science+Business Media, LLC 2013
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the world Gas model a multi period mixed complementarity model for the global natural Gas Market
Energy, 2010Co-Authors: Ruud Egging, Steven A Gabriel, Franziska HolzAbstract:Abstract We provide the description, mathematical formulation and illustrative results of the World Gas Model, a multi-period complementarity model for the global natural Gas Market with explicit consideration of Market power in the upstream Market. Market players include producers, traders, pipeline and storage operators, LNG (liquefied natural Gas) liquefiers and reGasifiers as well as Marketers. The model data set contains more than 80 countries and regions and covers 98% of world wide natural Gas production and consumption. We also include a detailed representation of cross-border natural Gas pipelines and constraints imposed by long-term contracts in the LNG Market. The model is calibrated to match production and consumption projections from the PRIMES [EC. European energy and transport: trends to 2030–update 2007. Brussels: European Commission; 2008] and POLES models [EC. World energy technology outlook – 2050 (WETO-H2). Brussels: European Commission; 2006] up to 2030. The results of our numerical simulations illustrate how the supply shares of pipeline and LNG in various regions in the world develop very differently over time. LNG will continue to play a major role in the Asian Market, also for new importers like China and India. Europe will expand its pipeline import capacities benefiting from its relative proximity to major Gas suppliers.
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the world Gas model a multi period mixed complementarity model for the global natural Gas Market
Energy, 2009Co-Authors: Rudolf Egging, Franziska Holz, Steven A GabrielAbstract:We provide the description and illustrative results of the World Gas Model, a multi-period complementarity model for the global natural Gas Market. Market players include producers, traders, pipeline and storage operators, LNG liquefiers and reGasifiers as well as Marketers. The model data set contains more than 80 countries and regions and covers 98% of world wide natural Gas production and consumption. We also include a detailed representation of cross-border natural Gas pipelines and constraints imposed by long-term contracts in the LNG Market. The Base Case results of our numerical simulations show that the rush for LNG observed in the past years will not be sustained throughout 2030 and that Europe will continue to rely on pipeline Gas for a large share of its imports and consumption.
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a complementarity model for the european natural Gas Market
Energy Policy, 2008Co-Authors: Rudolf Egging, Steven A Gabriel, Franziska Holz, Jifang ZhuangAbstract:In this paper, we present a detailed and comprehensive complementarity model for computing Market equilibrium values in the European natural Gas system. Market players include producers and their Marketing arms which we call "traders", pipeline and storage operators, Marketers, LNG liquefiers, reGasifiers, tankers, and three end-use consumption sectors. The economic behavior of producers, traders, pipeline and storage operators, liquefiers and reGasifiers is modeled via optimization problems whose Karush-Kuhn-Tucker (KKT) optimality conditions in combination with Market-clearing conditions form the complementarity system. The LNG tankers, Marketers and consumption sectors are modeled implicitly via appropriate cost functions, aggregate demand curves, and ex post calculations, respectively. The model is run on several case studies that highlight its capabilities, including a simulation of a disruption of Russian supplies via Ukraine.
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a complementarity model for solving stochastic natural Gas Market equilibria
Energy Economics, 2008Co-Authors: Jifang Zhuang, Steven A GabrielAbstract:This paper presents a stochastic equilibrium model for deregulated natural Gas Markets. Each Market participant (pipeline operators, producers, etc.) solves a stochastic optimization problem whose optimality conditions, when combined with Market-clearing conditions give rise to a certain mixed complementarity problem (MiCP). The stochastic aspects are depicted by a recourse problem for each player in which the first-stage decisions relate to long-term contracts and the second-stage decisions relate to spot Market activities for three seasons. Besides showing that such a Market model is an instance of a MiCP, we provide theoretical results concerning long-term and spot Market prices and solve the resulting MiCP for a small yet representative Market. We also note an interesting observation for the value of the stochastic solution for non-optimization problems.
Aldo Spanjer - One of the best experts on this subject based on the ideXlab platform.
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regulatory intervention on the dynamic european Gas Market neoclassical economics or transaction cost economics
Energy Policy, 2009Co-Authors: Aldo SpanjerAbstract:Shifts at the international Gas Market indicate that the transaction cost perspective provides better underpinnings for European Gas regulation than the current neoclassical perspective. Three implications are that policymakers should: (1) allow alternative coordination measures to complement Market exchange; (2) recognize that less than perfect competition outcomes may be optimal and (3) be more reticent in prescribing interventionist measures. Finally, the analysis provides the foundations for the empirical research required to complement this paper's theoretical approach.
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regulatory intervention on the dynamic european Gas Market neoclassical economics or transaction cost economics
Social Science Research Network, 2009Co-Authors: Aldo SpanjerAbstract:Shifts at the international Gas Market indicate that the transaction cost perspective provides better underpinnings for European Gas regulation than the current neoclassical perspective. Three implications are that policymakers should: 1) allow alternative coordination measures to complement Market exchange; 2) recognize that less than perfect competition outcomes may be optimal; and 3) be more reticent in prescribing interventionist measures. Finally, the analysis provides the foundations for the empirical research required to complement this paper’s theoretical approach.
Jifang Zhuang - One of the best experts on this subject based on the ideXlab platform.
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a complementarity model for the european natural Gas Market
Energy Policy, 2008Co-Authors: Rudolf Egging, Steven A Gabriel, Franziska Holz, Jifang ZhuangAbstract:In this paper, we present a detailed and comprehensive complementarity model for computing Market equilibrium values in the European natural Gas system. Market players include producers and their Marketing arms which we call "traders", pipeline and storage operators, Marketers, LNG liquefiers, reGasifiers, tankers, and three end-use consumption sectors. The economic behavior of producers, traders, pipeline and storage operators, liquefiers and reGasifiers is modeled via optimization problems whose Karush-Kuhn-Tucker (KKT) optimality conditions in combination with Market-clearing conditions form the complementarity system. The LNG tankers, Marketers and consumption sectors are modeled implicitly via appropriate cost functions, aggregate demand curves, and ex post calculations, respectively. The model is run on several case studies that highlight its capabilities, including a simulation of a disruption of Russian supplies via Ukraine.
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a complementarity model for solving stochastic natural Gas Market equilibria
Energy Economics, 2008Co-Authors: Jifang Zhuang, Steven A GabrielAbstract:This paper presents a stochastic equilibrium model for deregulated natural Gas Markets. Each Market participant (pipeline operators, producers, etc.) solves a stochastic optimization problem whose optimality conditions, when combined with Market-clearing conditions give rise to a certain mixed complementarity problem (MiCP). The stochastic aspects are depicted by a recourse problem for each player in which the first-stage decisions relate to long-term contracts and the second-stage decisions relate to spot Market activities for three seasons. Besides showing that such a Market model is an instance of a MiCP, we provide theoretical results concerning long-term and spot Market prices and solve the resulting MiCP for a small yet representative Market. We also note an interesting observation for the value of the stochastic solution for non-optimization problems.
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a large scale linear complementarity model of the north american natural Gas Market
Energy Economics, 2005Co-Authors: Steven A Gabriel, Jifang Zhuang, Supat KietAbstract:Abstract The North American natural Gas Market has seen significant changes recently due to deregulation and restructuring. For example, third party Marketers can contract for transportation and purchase of Gas to sell to end-users. While the intent was a more competitive Market, the potential for Market power exists. We analyze this Market using a linear complementarity equilibrium model including producers, storage and peak Gas operators, third party Marketers and four end-use sectors. The Marketers are depicted as Nash–Cournot players determining supply to meet end-use consumption, all other players are in perfect competition. Results based on National Petroleum Council scenarios are presented.
Christoph Hilgers - One of the best experts on this subject based on the ideXlab platform.
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Economic feasibility of pipe storage and underground reservoir storage options for power-to-Gas load balancing
Energy Conversion and Management, 2015Co-Authors: Christoph Budny, Reinhard Madlener, Christoph HilgersAbstract:This paper investigates the economic feasibility of power-to-Gas (P2G) systems and Gas storage options for both hydrogen and renewable methane. The study is based on a techno-economic model in which the net present value (NPV) method and Monte Carlo simulation of risks and price forward curves for the electricity and the Gas Market are used. We study three investment cases: A Base Case where the Gas is directly sold in the Market, a Storage & Arbitrage Case where temporal arbitrage opportunities between the electricity and the Gas Market are exploited, and a Storage & Balancing Case where the balancing Markets (secondary reserve Market for electricity, external balancing Market for natural Gas) are addressed. The optimal type and size of different centralized and decentralized storage facilities are determined and compared with each other. In a detailed sensitivity and cost analysis, we identify the key factors which could potentially improve the economic viability of the technological concepts assessed. We find that the P2G system used for bridging the balancing Markets for power and Gas cannot be operated profitably. For both, temporal arbitrage and balancing energy, pipe storage is preferred. Relatively high feed-in tariffs (100 € MW-1 for hydrogen, 130 € MW-1 for methane) are required to render pipe storage for P2G economically viable.
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economic feasibility of pipeline and underground reservoir storage options for power to Gas load balancing
2013Co-Authors: Christoph Budny, Reinhard Madlener, Christoph HilgersAbstract:This paper investigates the economic feasibility of power-to-Gas (P2G) systems and Gas storage options for both H2 and renewable methane. The study is based on a techno-economic model in which the net present value (NPV) method and Monte Carlo simulation of risks and price forward curves for the electricity and the Gas Market are used. We study three investment cases: a Base Case where the Gas is directly sold in the Market, a Storage & Arbitrage Case where temporal arbitrage opportunities between the electricity and the Gas Market are exploited, and a Storage & Balancing Case where the balancing Markets (secondary reserve Market for electricity, external balancing Market for natural Gas) are addressed. The optimal type and size of different centralized and decentralized storage facilities are determined and compared with each other. In a detailed sensitivity and cost analysis, we identify the key factors which could potentially improve the economic viability of the technological concepts assessed. We find that the P2G system used for bridging the balancing Markets for power and Gas cannot be operated profitably. For both, temporal arbitrage and balancing energy, pipe storage is preferred. Relatively high feed-in tariffs (100 € MW-1 for hydrogen, 130 € MW-1 for methane) are required to render pipe storage for P2G economically viable.
Rudolf Egging - One of the best experts on this subject based on the ideXlab platform.
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the world Gas model a multi period mixed complementarity model for the global natural Gas Market
Energy, 2009Co-Authors: Rudolf Egging, Franziska Holz, Steven A GabrielAbstract:We provide the description and illustrative results of the World Gas Model, a multi-period complementarity model for the global natural Gas Market. Market players include producers, traders, pipeline and storage operators, LNG liquefiers and reGasifiers as well as Marketers. The model data set contains more than 80 countries and regions and covers 98% of world wide natural Gas production and consumption. We also include a detailed representation of cross-border natural Gas pipelines and constraints imposed by long-term contracts in the LNG Market. The Base Case results of our numerical simulations show that the rush for LNG observed in the past years will not be sustained throughout 2030 and that Europe will continue to rely on pipeline Gas for a large share of its imports and consumption.
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a complementarity model for the european natural Gas Market
Energy Policy, 2008Co-Authors: Rudolf Egging, Steven A Gabriel, Franziska Holz, Jifang ZhuangAbstract:In this paper, we present a detailed and comprehensive complementarity model for computing Market equilibrium values in the European natural Gas system. Market players include producers and their Marketing arms which we call "traders", pipeline and storage operators, Marketers, LNG liquefiers, reGasifiers, tankers, and three end-use consumption sectors. The economic behavior of producers, traders, pipeline and storage operators, liquefiers and reGasifiers is modeled via optimization problems whose Karush-Kuhn-Tucker (KKT) optimality conditions in combination with Market-clearing conditions form the complementarity system. The LNG tankers, Marketers and consumption sectors are modeled implicitly via appropriate cost functions, aggregate demand curves, and ex post calculations, respectively. The model is run on several case studies that highlight its capabilities, including a simulation of a disruption of Russian supplies via Ukraine.
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examining Market power in the european natural Gas Market
Energy Policy, 2006Co-Authors: Rudolf Egging, Steven A GabrielAbstract:In this paper, we develop a mixed complementarity equilibrium model for the European natural Gas Market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfectly competitive and are combined with extensive pipeline, seasonal, and other data reflecting the current state of the Market. Four Market scenarios are run to analyze the extent of Market power by these producers as well as the importance of pipeline and storage capacity.
