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  • 1.
    Adom, Philip Kofi
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). University of Agricultural Sciences (SLU), Umeå, Sweden; Department of Banking and Finance, University of Professional Studies, Accra, Ghana.
    The transition between energy efficient and energy inefficient states in Cameroon2016Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 54, s. 248-262Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    I use a two-state (energy efficient/inefficient) Markov-switching dynamic model to study energy efficiency in Cameroon in a novel manner, employing yearly data covering 1971 to 2012. I find that the duration of an energy inefficient state is about twice as long as an energy efficient state, mainly due to fuel subsidies, low income, high corruption, regulatory inefficiencies, poorly developed infrastructure and undeveloped markets. To escape from an energy inefficient state a broad policy overhaul is needed. Trade liberalization and related growth policies together with the removal of fuel subsidies are useful, but insufficient policy measures; the results suggest that they should be combined with structural policies, aiming at institutional structure and investment in infrastructure. (C) 2015 Elsevier B.V. All rights reserved.

  • 2.
    Amjadi, Golnaz
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Lundgren, Tommy
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Persson, Lars
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    The Rebound Effect in Swedish Heavy Industry2018Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 71, s. 140-148Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    Energy efficiency improvement (EEI) benefits the climate and matters for energy security. The potential emission and energy savings due to EEI may however not fully materialize due to the rebound effect. In this study, we measure the size of the rebound effect for fuel and electricity within the four most energy intensive sectors in Sweden: pulp and paper, basic iron and steel, chemical, and mining. We use a detailed firm-level panel data set for 2000–2008 and apply Stochastic Frontier Analysis (SFA) for measuring the rebound effect. We find that neither fuel nor electricity rebound effects fully offset the potential energy and emission savings. Among the determinants, we find CO2 intensity and fuel/electricity share to be useful indicators for identifying firms with higher or lower rebound effect within each sector.

  • 3. Bostian, Moriah
    et al.
    Färe, Rolf
    Grosskopf, Shawna
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Department of Economics, Oregon State University, Corvallis, OR, USA.
    Lundgren, Tommy
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Environmental investment and firm performance: a network approach2016Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 57, s. 243-255Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    This study examines the role of investment in environmental production practices for both environmental performance and energy efficiency over time. We employ a network DEA approach that links successive production technologies through intertemporal investment decisions with a period by period estimation. This allows us to estimate energy efficiency and environmental performance separately, as well as productivity change and its associated decompositions into efficiency change and technology change. Incorporating a network model also allows us to account for both short-term environmental management practices and long-term environmental investments in each of our productivity measures. We apply this framework to a panel of detailed plant-level production data for Swedish manufacturing firms covering the years 2002-2008.

  • 4.
    Broberg, Thomas
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Daniel, Aemiro Melkamu
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Persson, Lars
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Household preferences for load restrictions: Is there an effect of pro-environmental framing?2021Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 97, artikkel-id 105188Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    In this paper, we investigate whether a pro-environmental framing influences households' stated willingness to accept restrictions on their electricity use. We use a split-sample choice experiment and ask respondents to choose between their current electricity contract and hypothetical contracts featuring various load controls and a monetary compensation. Our results indicate that the framing makes respondents marginally less likely to prefer their current contracts. We find significant pro-environmental framing effect related to a few contract attributes, particularly the framing reduces respondents' willingness-to-accept compensation for the number of days with load control and for flexibility to choose appliances for load control. The results further show that the framing affects respondents who do not perform pro-environmental activities. Our finding suggests that a pro-environmental message, which is inexpensive to include in a proposed contract, may influence the preferences of people who are less engaged in pro-environmental activities.

  • 5.
    Broberg, Thomas
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Dijkgraaf, Elbert
    Erasmus School of Economics and Tinbergen Institute, Erasmus University, Rotterdam, Netherlands.
    Meens-Eriksson, Sef
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Burn or let them Bury?: The net social cost of producing district heating from imported waste2021Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 105, artikkel-id 105713Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    In this study, a net social cost framework is applied to provide insights on policy issues relating to the cross-border trade in waste fuel. We estimate the net social cost of using imported waste fuel in a highly efficient combined heat and power plant (CHP) in a cold climate by considering both private costs and benefits as well as external costs related to energy production, alternative waste management and fuel transport. We conclude that using imported waste fuel is beneficial from a societal perspective compared to using biofuel, given the wide range of assumptions regarding technical, economic and environmental characteristics. The net social cost is mainly determined by fuel cost advantages and the external cost of greenhouse gas emissions. External costs associated with transports only marginally impact the net social cost of waste imports for incineration. The results are robust to variation in the excess heat utilisation rate, which implies that importing waste for incineration would also be beneficial in countries with warmer climates where district heating networks already exist.

    Fulltekst (pdf)
    fulltext
  • 6.
    Broberg, Thomas
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Egüez, Alejandro
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Blame it on the owner – Ownership and energy performance of multi-dwelling buildings2018Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 72, s. 108-119Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    In this paper, we investigate the energy efficiency of multi-dwelling buildings in Sweden to find out whether the type of ownership matters. More specifically, we investigate whether rental apartment buildings are less energy efficient than cooperative apartment buildings and whether public ownership has a negative impact on energy efficiency. A conceptual framework is presented to illustrate that such differences could be explained by the split incentives problem and deviations from profit maximizing interests. The empirical analysis is based on a unique dataset that combines data from energy performance certificates with ownership data on residential units. The results indicate that cooperative apartment buildings are significantly more energy efficient than buildings with rental apartments. The results also indicate that publicly owned buildings have somewhat lower energy performance than privately owned ones.

  • 7.
    Broberg, Thomas
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Egüez, Alejandro
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Kazukauskas, Andrius
    Vilnius University.
    Effects of energy performance certificates on investment: A quasi-natural experiment approach2019Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 84, artikkel-id 104480Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    Incomplete information may be one reason why some households do not invest in energy efficiency even though it would benefit them to do so. Energy performance certificates (EPCs) have been promoted to overcome such information shortages. In this paper, we investigate whether EPCs together with mandatory home energy audits make households more likely to invest in energy efficiency. Our study takes advantage of the mandatory nature of the EPCs to avoid the potential selection bias problem that typically applies to studies using voluntary energy audits as the treatment. Our treatment group consists of single-household houses in Sweden sold from 2008, i.e., when EPCs became legally required in connection with sales of residential buildings, to 2015; while the control group consists of houses sold between 2002 and 2008, i.e., without an EPC. The results show that there is no statistically significant treatment effect for most of the measures that a household can take to improve the energy performance of their house. The significant treatment effect that we do find concerns a few heating system-related measures.

  • 8.
    Broberg, Thomas
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Persson, Lars
    Umeå universitet, Samhällsvetenskapliga fakulteten, Institutionen för nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Is our everyday comfort for sale?: preferences for demand management on the electricity market2016Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 54, s. 24-32Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    In a European perspective, the electricity markets have been experiencing major changes via deregulation, new technologies and changes in the production mix. Together with the daily and seasonal peak hours on the demand side, the changing markets put pressure on increased flexibility to handle and sustain balance in the grid systems. This paper focuses on the demand side and analyzes preferences related to demand management of Swedish households' energy use. In a web-based choice experiment respondents were faced with three hypothetical electricity contracts. The choices of preferred contracts revealed preferences for attributes related to external control of heating, household electricity and information dissemination (integrity). The results show that people put a substantial value on not being controlled, illustrated by compensations up to thousands of SEK for accepting a contract characterized by external control of energy use in various dimensions. In addition, the results show that household composition, age, gender and income play a role for the perceived discomfort from the external control and information dissemination. 

  • 9.
    Brännlund, Runar
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Lundgren, Tommy
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Patrik, Söderholm
    Luleå technical university.
    Convergence of carbon dioxide performance across Swedish industrial sectors: An environmental index approach2015Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 51, s. 227-235Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    The overall objective of the paper is to analyze convergence of CO2 emission intensity across manufacturing sectors in Sweden. Our approach differs from previous work on carbon convergence in that it employs a theoretical framework to construct a COperformance index, which explicitly takes into account that industrial firms produce good as well as bad outputs. This index is then used as the dependent variable in a growth-type regression equation. We employ a data set covering 14 industrial sectors over the time period 1990–2008. The results suggest the presence of conditional β-convergence in CO2 performance among the industrial sectors in Sweden. Moreover, the speed of convergence varies significantly in the sense that the higher the capital intensity is, the lower is the convergence rate to the different steady states. This is likely to reflect the importance of – and in part the costs associated with – capital turnover to achieve a transition towards lower CO2 emission paths.

  • 10.
    Brännlund, Runar
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet.
    Vesterberg, Mattias
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet.
    Peak and off-peak demand for electricity: Is there a potential for load shifting?2021Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 102, artikkel-id 105466Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    In this paper, we explore whether there is a potential for shifting load between different times of the days, i.e., between peak and off-peak hours. In particular, we explore whether the fact that electricity is a necessity to modern life puts restrictions on the possibilities for load shifting. To do that we provide a structural framework for peak and off-peak electricity demand, where households are assumed to have Stone-Geary utility functions with subsistence levels for electricity demand that varies within the day, and that depends on household characteristics and temperature. As an empirical illustration, we fit our model to Swedish data on residential electricity usage at the sub-daily level. Our results indicate that the potential to shift load from peak to off peak is limited. One reason for this is that the subsistence levels are larger during peak than off-peak, implying that households assign a high value on electricity during peak time, relative to off-peak time. Overall, the results have important policy implications, not the least with respect to effects of real time pricing, as it suggests that there are limits to households' price responsiveness.

  • 11.
    Daniel, Aemiro Melkamu
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Persson, Lars
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Sandorf, Erlend Dancke
    Accounting for elimination-by-aspects strategies and demand management in electricity contract choice2018Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 73, s. 80-90Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    In this paper, we report on a discrete choice experiment aimed at eliciting Swedish households' willingness-to-accept a compensation for restrictions on household electricity and heating use during peak hours. When analyzing data from discrete choice experiments it is typically assumed that people make rational utility maximizing decisions, i.e., that they consider all of the attribute information and compare all alternatives. However, mounting evidence shows that people use a wide range of simplifying strategies that are inconsistent with utility maximization. We use a flexible model capturing a two-stage decision process. In the first stage, respondents are allowed to eliminate from their choice set alternatives that contain an unacceptable level, in this case restrictions on the use of heating and electricity. In the second stage, respondents choose in a compensatory manner between the remaining alternatives. Our results show that about half of the respondents choose according to an elimination-by-aspects strategy, and that, on average, they are unwilling to accept any restrictions on heating in the evening or electricity use irrespective of time-of-day. Furthermore, considering elimination-by-aspects behavior leads to a downward shift in elicited willingness-to-accept. We discuss implications for policy.

  • 12.
    Ghalwash, Tarek
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Institutionen för nationalekonomi.
    Brännlund, Runar
    Umeå universitet, Samhällsvetenskapliga fakulteten, Institutionen för nationalekonomi.
    Nordström, Jonas
    Umeå universitet, Samhällsvetenskapliga fakulteten, Institutionen för nationalekonomi.
    Increased energy efficiency and the rebound effect: Effects on consumption and emissions2007Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 29, nr 1, s. 1-17Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    The main objective of this paper is to examine how exogenous technological progress, in terms of an increase in energy efficiency, affects consumption choice by Swedish households and thereby emissions of carbon dioxide (CO2), sulphur dioxide (SO2) and nitrogen oxide (NOx). The aim of the paper is closely related to the discussion of what is termed the “rebound effect”. To neutralise the rebound effect, we estimate the necessary change in CO2 tax, i.e. the CO2 tax that keeps CO2emissions at their initial level. In addition, we estimate how this will affect emissions of sulphur dioxide and nitrogen oxides. The results indicate that an increase in energy efficiency of 20% will increase emissions of CO2 by approximately 5%. To reduce the CO2 emissions to their initial level, the CO2 tax must be raised by 130%. This tax increase will reduce the emissions of sulphur dioxide to below their initial level, but will leave the emissions of nitrogen oxides at a higher level than initially. Thus, if marginal damages from sulphur dioxide and nitrogen dioxide are non-constant, additional policy instruments are needed.

  • 13.
    Hellström, Jörgen
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Företagsekonomi.
    Lundgren, Jens
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Yu, Haishan
    Department of Economics, Dalarna University, 78188 Borlänge, Sweden.
    Why do electricity prices jump?: Empirical evidence from the Nordic electricity market2012Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 34, nr 6, s. 1774-1781Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    The paper empirically explores the possible causes behind electricity price jumps in the Nordic electricity market, Nord Pool. A time-series model (a mixed GARCH–EARJI jump model) capturing the common statistical features of electricity prices is used to identify price jumps. By the model, a categorical variable is defined distinguishing no, positive and negative jumps. The causes for the jumps are then explored through the use of ordered probit models in a second stage. The empirical results indicate that the structure of the market plays an important role in whether shocks in the demand and supply for electricity translate into price jumps.

  • 14.
    Hu, Xiao
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Department of Forest Economics at the Swedish University of Agricultural Science.
    Jaraite, Jurate
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Faculty of Economics and Business Administration at Vilnius University, Vilnius, Lithuania.
    Kažukauskas, Andrius
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet. Faculty of Economics and Business Administration at Vilnius University, Vilnius, Lithuania.
    The effects of wind power on electricity markets: A case study of the Swedish intraday market2021Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 96, artikkel-id 105159Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    We investigate the process of electricity price formation in the Swedish intraday market, given a large share of wind power in the Swedish electricity system. According to Karanfil and Li's (2017) approach, if the intraday market is efficient, with large shares of intermittent electricity in the entire electricity system, intraday prices should send signals based on scarcity pricing for balancing power. Based on this theory, we analyze Swedish electricity market data for the period 2015–2018 and find that the Swedish intraday market, despite its small trading volumes, is functioning properly. In particular, our results show that intraday price premia mostly respond to wind power forecast errors and other imbalances resulting from either supply or demand sides of the electricity market, as they should if the intraday market is efficient. The results of wind power forecast errors hold for central and southern Sweden, but not for northern Sweden where the share of wind power production is still very small. However, we find no effect of unplanned nuclear power plant outages on intraday price premia.

  • 15.
    Jaraite, Jurate
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Andrius, Kazukauskas
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    The profitability of electricity generating firms and policies promoting renewable energy2013Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 40, s. 858-865Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    Using a cross-country firm-level dataset this study empirically analyses how the implemented renewable electricity promotion systems Tradable Green Certificates vs. Feed-in-Tariffs affected the profitability of the electricity production sector in Europe during the 2002-2010 period. In particular, it tests the hypothesis that due to market imperfections, namely because of higher investment risk, higher capital constraints and higher transaction costs, TGC schemes will be associated with excess profits for renewable electricity generating firms. The results somewhat support this hypothesis, showing that electricity generating firms, operating in EU countries that implemented TGC, were more profitable compared to FIT firms. 

  • 16.
    Jaraite, Jurate
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Di Maria, Corrado
    University of Birmingham, Department of Economics.
    Efficiency, productivity and environmental policy: A case study of power generation in the EU2012Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 34, nr 5, s. 1557-1568Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    This study uses the EU public power generating sector as a case study to investigate the environmental efficiency and productivity enhancing performance of the European Union's CO2 Emissions Trading Scheme (EU ETS) in its first phase. Using Data Envelopment Analysis methods, we measure the environmental efficiency and the productivity growth registered in public power generation across the EU over the 1996–2007 period. In the second stage of our analysis we attempt to explain changes in productivity and efficiency over time using econometric techniques. Our analysis suggests two conclusions: carbon pricing led to an increase in environmental efficiency and to a shift outwards of the technological frontier; and, the overly generous allocation of emission permits had a negative impact on both measures. These results are shown to be robust to changes in controls and specifications.

  • 17.
    Johansson, Per-Olov
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Stockholm School of Economics, Sweden.
    Kriström, Bengt
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Företagsekonomi. SLU-Umeå, Sweden.
    Welfare evaluation of subsidies to renewable energy in general equilibrium: Theory and application2019Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 83, s. 144-155Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    While support schemes to renewable energy are ubiquitous around the world today, there are few systematic welfare evaluations of their social benefits and costs in an economy-wide setting. We develop a general equilibrium cost–benefit rule to assess changes in quantity based subsidy schemes, “green” certificates, that support renewable electricity generation. An advantage to large-scale numerical models of the same issue is that we can go “into the black box” and uncover key economic mechanisms. We study a second-best economy with distorting taxes and pollution, so that a perturbation of the certificate scheme causes both benefits and costs; these items can be uncovered and estimated using our framework. To this end, we provide a user-friendly approximation for empirical implementation, which means that data requirement is modest relative to a typical computable general equilibrium model. We apply the theory to a currently existing scheme in Sweden taking into account “trickle-down” effects, including e.g. a loss of value-added tax income in the rest of the economy and environmental costs (i.e. externalities from electricity generation not currently internalized). We first present an ex post estimate, i.e. the welfare consequences of having scrapped the existing system 2003–2017 and then an ex ante analysis of extending the system to 2045. The latter includes a systematic sensitivity analysis based on Monte-Carlo simulation. Overall, we find net present value gains from removing the subsidy scheme, taking into account externalities, “trickle-down” and public finance repercussions.

    Fulltekst (pdf)
    fulltext
  • 18.
    Karimu, Amin
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Brännlund, Runar
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Functional form and aggregate energy demand elasticities: a nonparametric panel approach for 17 OECD countries2013Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 36, s. 19-27Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    This paper studies whether the commonly used linear parametric model for estimating aggregate energy demand is the correct functional specification for the data generating process. Parametric and nonparametric econometric approaches to analyzing aggregate energy demand data for 17 OECD countries are used. The results from the nonparametric correct model specification test for the parametric model rejects the linear, log-linear and translog specifications. The nonparametric results indicate that the effect of the income variable is nonlinear, while that of the price variable is linear but not constant. The nonparametric estimates for the price variable is relatively low, approximately -0.2. 

  • 19.
    Karimu, Amin
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Brännlund, Runar
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Lundgren, Tommy
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Söderholm, Patrik
    Energy intensity and convergence in Swedish industry: a combined econometric and decomposition analysis2017Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 62, s. 347-356Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    How to reduce the carbon footprint associated with energy use is still a major concern for most decision-makers. Against this background, a better understanding of energy intensity—the ratio of energy use to output and its convergence could be important in the design of policies targeting the reduction in the carbon footprint related to energy use. This paper analyzes the determinants of energy intensity and tests for energy intensity convergence across 14 Swedish industrial sectors. This analysis builds on a nonparametric regression analysis of an intensity index constructed at the industry sector level as well as indices constructed from a decomposition of this index. The latter isolates two key determinants of changes in energy intensity and convergence patterns: the ef- ficiency channel-fundamental improvement in the use of energy and activity channel-structural shifts in the economy. The empirical analysis relies on a detailed sectorial dataset covering the period 1990–2008. The findings indicate that input prices, including the price of energy, have been significant determinants of energy intensity in the Swedish industrial sectors. This effect can primarily be attributed to the efficiency channel and with a less profound influence from the activity channel. We also find evidence of energy intensity convergence among the industrial sectors, and this primarily stems from the activity channel rather than from the efficiency channel.

  • 20.
    Lanot, Gauthier
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Vesterberg, Mattias
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi. Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    The price elasticity of electricity demand when marginal incentives are very large2021Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 104, artikkel-id 105604Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    Using unique data on Swedish households, we measure the price elasticity of electricity demand for households facing a mandatory non-linear distribution tariff, where households are charged based on their maximum consumption during a month, and where the marginal incentives are very large. We estimate the price elasticity using both 2SLS and bunching estimators, and we find that the price elasticity is smaller than what many previous studies on electricity demand have found.

    We show that the 2SLS estimates are not robust to changes to the set of controls or to the sample definition, while the bunching estimates suggest that the price elasticity of electricity demand is small in response to the large marginal incentives.

    Furthermore, we illustrate why charging households based on maximum consumption during a month leads to weak incentives in the end of the month, and discuss alternative tariff designs.

    Fulltekst (pdf)
    fulltext
  • 21.
    Sandra, Schusser
    et al.
    Department of Forest Economics, Swedish University of Agricultural Sciences, Umeå, Sweden.
    Jaraite, Jurate
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE). Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    Explaining the interplay of three markets: green certificates, carbon emissions and electricity2018Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 71, s. 1-13Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    The European Union's Emissions Trading System (EU ETS) and the Swedish-Norwegian Tradable Green Certificate System (Swedish-Norwegian TGC system) are two market-based instruments that have the overlapping goals to mitigate greenhouse gas (GHG) emissions by shifting economies to cleaner energy sources. Understanding the price signals and interactions of these two newly created markets is essential for all decision makers – regulators and direct market participants – who aim to reach the predefined policy goals in the most efficient manner. The interaction between these policy instruments has been widely examined from the theoretical perspective. This research contributes to the literature by empirically examining the interplay between the prices of three markets: (1) the price of tradable green certificates (TGC) in the Swedish-Norwegian TGC system, (2) the price of carbon in the EU ETS and (3) the price of electricity in the Nord Pool. We use a multivariate vector-autoregressive (VAR) approach to take into account the endogenous relationships between these prices. Our empirical results do not support the theoretical considerations that the impacts of carbon prices on TGC prices and hence on renewable electricity production are negative. Contrary, we find that, to date, increases in carbon prices positively affect TGC prices in the short run.

  • 22.
    Söderberg, Magnus
    et al.
    Griffith University, Brisbane, Australia.
    Vesterberg, Mattias
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    How demand uncertainty influences electricity network prices under revenue-cap regulation: the case of Sweden2023Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 127, nr Part B, artikkel-id 107097Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    The amount of electricity end-users demand from the distribution grid is going to be more uncertain in the future. In this paper, we empirically investigate how variation in demand (which we refer to as demand uncertainty) influence the pricing behavior of distribution system operators (DSOs) that are subject to an ex-ante revenue cap and a penalty scheme that is activated when the cap is violated. Using data from 162 Swedish electricity DSOs observed over 13 years, our econometric investigations shows that demand uncertainty leads to lower electricity distribution prices under the current ex-ante revenue cap regime, but not under the previous ex-post rate-ofreturn regime. We also find that DSOs react more strongly to uncertainty when they have a relatively higher debt ratio. While lower network prices may sound like a good outcome for customers, it also leads to reduced revenue and a slowdown in investments. Thus, when society benefits from distribution network expansions and the DSOs are regulated by ex-ante revenue caps, the regulator should consider regulating the debt ratio. 

    Fulltekst (pdf)
    fulltext
  • 23.
    Vesterberg, Mattias
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    The effect of price on electricity contract choice2018Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 69, s. 59-70Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    I explore how households switch between fixed-price and variable-price electricity contracts in response to variations in price and temperature, conditional on previous contract choice. Using panel data with roughly 54,000 Swedish households, a dynamic probit model is estimated. The results suggest that the choice of contract exhibits substantial state dependence, with an estimated marginal effect of previous contract choice of 0.96, and that the short-run effects of variation in prices and temperature on the choice of electricity contract are small. Further, the state dependence and price responsiveness are similar across housing types, income levels and other dimensions. A plausible explanation of these results is that transaction costs are perceived to be larger than the relatively small cost savings from switching between contracts.

  • 24.
    Vesterberg, Mattias
    Umeå universitet, Samhällsvetenskapliga fakulteten, Handelshögskolan vid Umeå universitet, Nationalekonomi.
    The hourly income elasticity of electricity2016Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 59, s. 188-197Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    Using a detailed data set on appliance-level electricity consumption at the hourly level, we provide the first estimates of hourly and end-use-specific income elasticities for electricity. Such estimates are informative about how consumption patterns in general, and peak demand in particular, will develop as households’ income changes. We find that the income elasticities are highest during peak hours for kitchen and lighting, with point estimates of roughly 0.4, but insignificant for space heating.

  • 25.
    Zhang, Shanshan
    et al.
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Lundgren, Tommy
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för miljö- och naturresursekonomi (CERE).
    Zhou, Wenchao
    Umeå universitet, Samhällsvetenskapliga fakulteten, Centrum för regionalvetenskap (CERUM).
    Energy efficiency in Swedish Industry: A firm-level data envelopment analysis2016Inngår i: Energy Economics, ISSN 0140-9883, E-ISSN 1873-6181, Vol. 55, s. 42-51Artikkel i tidsskrift (Fagfellevurdert)
    Abstract [en]

    This paper assesses energy efficiency in Swedish industry. Using unique firm-level panel data covering the years 2001–2008, the efficiency estimates are obtained for firms in 14 industrial sectors by using data envelopment analysis (DEA). The analysis accounts for multi-output technologies where undesirable outputs are produced alongside with the desirable output. The results show that there was potential to improve energy efficiency in all the sectors and relatively large energy inefficiencies existed in small energy-use industries in the sample period. Also, we assess how the EU ETS, the carbon dioxide (CO2) tax and the energy tax affect energy efficiency by conducting a second-stage regression analysis. To obtain consistent estimates for the regression model, we apply a modified, input-oriented version of the double bootstrap procedure of Simar and Wilson (2007). The results of the regression analysis reveal that the EU ETS and the CO2 tax did not have significant influences on energy efficiency in the sample period. However, the energy tax had a positive relation with the energy efficiency.

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