Search Results (352)

Our regression analysis documents that energy policies to promote renewable energy development, as well as hydroelectric imports from Canada, lead to short-run reductions in average electricity prices (also known as merit-order effects) throughout the Northeast United States. Changes in the reliance upon renewable energy in one of the Northeast’s three interconnected electricity markets will impact wholesale prices in the other two. The retirement of a 1000 MW nuclear plant can increase prices by about 9% in the Independent System Operator of New England market and 7% in the New York Independent System Operator market in the short run at reference hubs, while also raising prices in neighboring markets. Some proposed large-scale off-shore wind farms would not only lower prices in local markets at the reference hubs modeled but would also lower prices in neighboring markets. Full article

This paper considers the impact of Central Bank Digital Currencies (CBDCs) on the world’s financial systems with a special emphasis on G20 economies. Using quarterly macro-financial data for the period of 2000 to 2024, collected from the IMF, BIS, World Bank, and Atlantic Council, a Global Vector Autoregression (GVAR) model is applied to 20 G20 countries. The results reveal significant heterogeneity across economies: CBDC shocks intensify emerging market financial instability (e.g., India, Brazil), while more digitally advanced countries (e.g., UK, Japan) experience stabilization. Retail CBDCs increase disintermediation risks in more fragile banking systems, while wholesale CBDCs improve cross-border liquidity. This article contributes to the literature by providing the first GVAR-based estimation of CBDC spillovers globally. Full article

This study examines how contract structures influence coordination and innovation incentives in dual-channel telecommunications supply chains. We consider a setting where a mobile network operator (MNO) supplies services both directly to consumers and indirectly through a mobile virtual network operator (MVNO), which competes in the retail market. Using a game-theoretic framework, we evaluate how different contracts—single wholesale pricing, revenue sharing, and quantity discounts—shape strategic decisions, particularly in the presence of investment spillovers between parties. A key coordination problem emerges from the externalized gains of innovation, where one party’s investment generates value for both participants. Our results show that single wholesale and revenue sharing contracts often lead to suboptimal investment and profit outcomes. In contrast, quantity discount contracts, especially when combined with appropriate transfer payments, improve coordination and enhance the total performance of the supply chain. We also find that innovation led by the MVNO, while generally less impactful, can still yield reciprocal benefits for the MNO, reinforcing the value of cooperative arrangements. These findings emphasize the importance of contract design in managing interdependence and improving efficiency in decentralized supply chains. This study offers theoretical and practical implications for telecommunications providers and policymakers aiming to promote innovation and mutually beneficial outcomes through well-aligned contractual mechanisms. Full article

This paper examines arbitrage opportunities available in one of the largest wholesale electricity markets in the world, the Midcontinent Independent System Operator (MISO) electricity exchange. While prior research suggests that market efficiency on the exchange has increased over time, this study reveals that historical pricing information can still be used to generate positive returns. I find that a trading rule based on prior spot and forward prices generates statistically and economically significant risk-adjusted returns across the entire MISO footprint. These returns may in part be explained by the relatively small number of financial traders in the market and the ability of generation owners to exercise market power. Full article

The Greek islands have been blessed with excellent wind potential, with hundreds of sites featuring annual average wind velocity higher than 8–10 m/s. Due to specific regulations in the legal framework, some GWs of wind parks have been submitted since the late 2000s by a small number of large investors in the Greek islands, favoring the creation of energy monopolies and imposing serious impacts on natural ecosystems and existing human activities. These projects have caused serious public reactions against renewables, considerably decelerating the energy transition. This article aims to summarize the legal points in the Greek framework that caused this distorted approach and present the imposed potential social and environmental impacts. Energy monopolies distort the electricity wholesale market and lead to energy poverty and a low standard of living by imposing higher electricity procurement prices on the final users. The occupation of entire insular geographical territories by large wind park projects causes important deterioration of the natural environment, which, in turn, leads to loss of local occupations, urbanization, and migration by affecting negatively the countryside life. Serious concerns from the local population are clearly revealed through an accomplished statistical survey as well as a clear intention to be engaged in future wind park projects initiated by local stakeholders. The article is integrated with specific proposed measures and actions toward the rational development of renewable energy projects. These refer mainly on the formulation of a truly supportive and just legal framework aiming at remedying the currently formulated situation and the strengthening of the energy communities’ role, such as through licensing priorities, funding mechanisms, and tools, as well as additional initiatives such as capacity-building activities, pilot projects, and extensive activation of local citizens. Energy communities and local stakeholders should be involved in the overall process, from the planning to the construction and operation phase. Full article

The private sector in Tanzania has played an essential role in improving coverage and access to mosquito nets. This follow-up study assessed the overall market share for untreated and insecticide-treated nets (ITNs) and misleading or counterfeit ITN products in commercial markets. This study was conducted from March to April 2024 in ten regions in Tanzania. The study used mixed methods: (1) a quantitative survey among sampled outlets supported by photographic documentation of all net products and (2) key informant interviews of retailers and wholesalers. We assessed the relationship between market share and population access using ANOVA and Pearson correlation. No counterfeit or misleading nets were found, consistent with results from 2017, 2021, and 2022 surveys. Untreated nets dominated all markets, comprising 99% of all products observed and 99% of estimated net sales 3 months before the survey. Legitimate ITNs were crowded out from the studied markets. Leaked nets from free distributions were present but extremely limited (1%) and at their lowest level of the survey rounds. Untreated nets were more expensive than leaked ITNs for both regular- and queen-size nets. Despite ongoing efforts, increasing the share of legitimate ITNs remains a significant challenge in a context of large-scale public sector distributions. Full article

The purpose of this research is to investigate the possibilities of electricity consumption-associated cost reduction in buildings owned by a medium-sized logistics company in Latvia (A_LV), which is a part of the larger international business ecosystem (A). The company is not using all of its facilities for its own business needs, some of them are rented out, and therefore the possibility of impacting electricity consumption in rented out buildings is limited. During the research, mixed-type approaches combining qualitative and quantitative research methods and data analysis were employed, where the quantitative methods helped to analyze the company’s electricity consumption and cost changes in different time periods, while the qualitative methods were used in a literature review. As primary data sources, A_LV’s internal electricity consumption reports and invoices for electricity payments were used, along with publicly available data on electricity consumption in Latvia and wholesale market price fluctuations. Although A_LV has numerous areas of electricity consumption optimization, this research is limited to few of them—lighting system optimization, energy management and automation applications, forklift charging regime adjustments, and choice of electricity retailer and tariff plan. Full article

Accurate electricity wholesale price (EWP) forecasting is crucial for advancing sustainability in the energy sector, as it supports more efficient utilization and integration of renewable energy by informing when and how it should be consumed, dispatched, curtailed, or stored. However, high fluctuations in EWP, often resulting from demand–supply imbalances typically caused by sudden surges in electricity usage and the intermittency of renewable energy generation, and unforeseen external events, pose a challenge for accurate forecasting. Incorporating local temporal information (LTI) in time series, such as hourly price changes, is essential for accurate EWP forecasting, as it helps detect rapid market shifts. However, existing methods remain limited in capturing LTI, either relying on point-wise input sequences or, for fixed-length, non-overlapping segmentation methods, failing to effectively model dependencies within and across segments. This paper proposes the Local-Temporal Convolutional Transformer (LT-Conformer) model for day-ahead EWP forecasting, which addresses the challenge of capturing fine-grained LTI using Local-Temporal 1D Convolution and incorporates two attention modules to capture global temporal dependencies (e.g., daily price trends) and cross-feature dependencies (e.g., solar output influencing price). An initial evaluation in the Australian market demonstrates that LT-Conformer outperforms existing state-of-the-art methods and exhibits adaptability in forecasting EWP under volatile market conditions. Full article

Wholesale market prices of agricultural products, being essential to the daily lives of consumers, are closely tied to living standards and the overall stability of the agricultural market. The use of a single model to predict nonlinear and dynamic agricultural price time series often results in low accuracy due to suboptimal use of available information. To address this issue, this paper proposes a combined residual correction-based prediction method. Initially, the sparrow search algorithm (SSA) is used to optimize the penalty factors and kernel parameters of support vector regression (SVR) and the input weights and hidden layer biases of the extreme learning machine (ELM), thereby improving the convergence rate and predictive accuracy of these models. Subsequently, the induced ordered weighted averaging (IOWA) operator is applied to determine the weight vectors for the SSA-SVR and SSA-ELM models, reducing the fluctuating prediction accuracies of individual models at different times. Finally, the residuals of the generalized regression neural network (GRNN) model are forecasted using a combined residual correction method that integrates SSA-SVR and SSA-ELM based on the IOWA operator, refining the GRNN’s forecast outcomes. An empirical analysis was performed by comparing the results of nine individual forecasting models on monthly pork prices in Beijing. The findings indicate that the SSA-SVR, SSA-GRNN, and SSA-ELM models outperformed the SVR, GRNN, and ELM models in terms of forecasting accuracy, respectively. This improvement is attributed to the parameter optimization of the SVR, GRNN, and ELM models through the SSA. The proposed model also showed superior forecasting accuracy compared to the nine individual models. The results confirm that the proposed model is an effective tool for predicting agricultural product prices and can be applied to forecast prices of other agricultural products with similar characteristics. Full article

This paper investigates the long-term impact of integrating emerging Small Modular Reactors (SMR) in modern power systems. A chronological simulation of the Greek day-ahead market and real-time balancing market with fine time granularity is conducted for a future 20-year period (2032–2051) under four SMR penetration scenarios using a specialized integrated market simulation software. Simulation results indicate that SMR units can be regarded as a promising electricity generation solution in the forthcoming energy transition landscape. The introduction of up to 3 GW of SMR capacity is projected to significantly decrease reliance on gas imports by up to 62%, reduce carbon emissions by up to 52%, and lower overall electricity costs for end-consumers by up to 21% as compared to a baseline scenario without SMRs. It is anticipated that SMR units are expected to leverage their operating advantages and generally achieve positive financial results when participating directly in the wholesale market. However, their economic viability is highly dependent on their initial capital expenditure and other operating cost components, which at present are highly uncertain. Full article

The huge penetration of renewable energy sources poses several challenges for the function of electricity markets, such as increased price volatility and massive curtailments. This paper investigates the current structure of the wholesale electricity market in Greece under the Target Model guidelines. Our analysis put under scrutiny the formation and function of both spot and balancing markets by highlighting key challenges and reforms. Empirical evidence reveals that the domestic market is currently in accordance with the European Target Model; however, the anticipated benefits in terms of more competitive prices are not evident yet. The oversupply of electricity accompanied by low demand that is apparent in the Greek market points to the rapid participation of storage units in the system. The paper provides a detailed description of the recent support mechanism to facilitate the integration of BESS into the system. Eventually, this is anticipated to reduce price volatility and smoothen the price curves. Full article

The development of renewable energy in the power industry plays a crucial role in mitigating environmental degradation. The renewable energy (RE) consumption system and green certificate trading market are significant in promoting renewable energy adoption, while energy storage technology has advanced substantially to address power supply instability. Against this backdrop, this study employs a Stackelberg game approach to construct a power supply chain model, with generation companies as leaders and retail companies as followers, examining energy storage cost-sharing mechanisms and retailers’ renewable energy investment decisions. Key findings include the following: (1) a higher RE consumption ratio reduces wholesale prices, power stability, electricity demand, and retailers’ renewable investment; (2) when the energy storage cost coefficient exceeds a threshold, higher green certificate prices increase retailers’ renewable investment; (3) beyond the threshold, a higher RE consumption ratio incentivizes retailers to invest in renewables; (4) proportional cost sharing enhances renewable investment by approximately 15% and maximizes supply chain profits. The study provides decision-making insights for power companies and policy references for governments. Full article

Chlorine dioxide (ClO₂) is a powerful sterilizing agent that is widely used to prevent the spoilage of fresh foods during delivery and storage. However, its practical applications are hindered by a short sterilization duration, complex deployment processes, and high treatment costs. To address these challenges, an innovative ClO₂ self-releasing sachet was developed, which was specifically designed for use in retail and wholesale markets. The sachet utilizes polyether block amide (PEBAX^®) as a hydrophilic polymer to facilitate the dissociation of sodium chlorite (NaClO₂) and citric acid (CA), which generates ClO₂. A PEBAX/CA composite film was coated onto kraft paper to construct the sachet. This design extended the ClO₂ release period to over 3 d, with a controllable release rate being achieved by adjusting the concentrations of NaClO₂ and CA. In practical tests, the sachets inhibited fungal growth by >50% over 14 d at 20 °C within a corrugated box. Furthermore, they preserved the quality of the cherry tomatoes for 16 d during storage. These results demonstrate that the newly developed sachet offers an economical and user-friendly solution for fresh-food packaging, effectively preserving product quality. Full article

This paper explores optimal strategies for manufacturers, streamers, and retailers in a dual-channel environment, focusing on three commission structures and two power structures. Our analysis identifies steady states where dynamic commissions converge, enhancing profitability and stability for all parties. We find that less dominant partners prefer commission structures that reinforce existing power structures. Profitability is influenced by dynamic commissions: under manufacturer dominance, dynamic wholesale price and commission rate increase profitability for manufacturers and retailers while decreasing streamers’ profits. In contrast, under streamer dominance, a dynamic commission rate enhances streamers’ profits but reduces those of manufacturers and retailers. This evaluation highlights the shared interests between manufacturers and retailers. Taking the spillover effect into account, commission strategies should consider hassle cost, initial commission rate, and spillover impact. Product selection strategies show consistent trends, with moderate hassle cost and a disutility factor ranging from moderate to high, regardless of the spillover effect. Full article

Peanut is Kenya’s second most important legume after beans, primarily grown in the Nyanza and Western regions. This study maps the peanut value chain in Kenya, aiming to identify key actors, quantify costs and value addition, and outline constraints and opportunities, with a view to upgrading the chain. A cross-sectional survey was conducted among value chain actors in Karachuonyo and Nyakach sub-counties, complemented by secondary data sources. Descriptive statistics were used to analyze socio-economic characteristics, production volumes, pricing, demand trends, and policy-related factors. The findings indicate a predominance of female farmers (68%) in peanut production, though few use improved technologies; only 26% were aware of improved seed varieties, and just 1.5% reported using them. Fertilizer usage was absent, attributed to high costs, soil conditions, and limited knowledge. The wholesale and processing segments are male-dominated, largely due to capital intensity and travel requirements, while female traders dominate the retail sector. Strengths Weaknesses Opportunity and Threats (SWOT) analysis highlighted the significant potential of favorable production ecologies, processing options, and robust demand in local and international markets. Key constraints identified include limited seed availability, high fertilizer costs, pest issues, and declining soil fertility. Policy implications include increasing access to affordable inputs, promoting gender-inclusive programs, investing in agricultural research and infrastructure, supporting sustainable farming practices, and fostering public-private partnerships to expand processing and market access. Full article