Managing the variability of supply in the European power system with high wind energy penetration

The power system of the future will have a hierarchical structure created by layers of system control from via regional high-voltage transmission through to medium and low-voltage distribution. Each level will have generation sources such as large-scale offshore wind, wave, solar thermal, nuclear directly connected to this Supergrid and high levels of embedded generation, connected to the medium-voltage distribution system. It is expected that the fuel portfolio will be dominated by offshore wind in Northern Europe and PV in Southern Europe. The strategies required to manage the coordination of supply-side variability with demand-side variability will include large scale interconnection, demand side management, load aggregation and storage in the concept of the Supergrid combined with the Smart Grid. The design challenge associated with this will not only include control topology, data acquisition, analysis and communications technologies, but also the selection of fuel portfolio at a macro level. This paper quantifies the amount of demand side management, storage and so-called ‘back-up generation’ needed to support an 80% renewable energy portfolio in Europe by 2050.

Wind generation output during cold weather-driven electricity demand peaks in Ireland

Recent cold winters and prolonged periods of low wind speeds have prompted concerns about the increasing penetration of wind generation in the Irish and other northern European power systems. On the combined Republic of Ireland and Northern Ireland system there was in excess of 1.5 GW of installed wind power in January 2010. As the penetration of these variable, non-dispatchable generators increases, power systems are becoming more sensitive to weather events on the supply side as well as on the demand side. In the temperate climate of Ireland, sensitivity of supply to weather is mainly due to wind variability while demand sensitivity is driven by space heating or cooling loads. The interplay of these two weather-driven effects is of particular concern if demand spikes driven by low temperatures coincide with periods of low winds. In December 2009 and January 2010 Ireland experienced a prolonged spell of unusually cold conditions. During much of this time, wind generation output was low due to low wind speeds. The impacts of this event are presented as a case study of the effects of weather extremes on power systems with high penetrations of variable renewable generation.

Empleo y actividad económica en jóvenes: tendencias actuales en las economías avanzadas de Europa occidental”

This article describes the evolution of the labour market position of youth in European advanced economies in the last 3 decades, its main institutional determinants and policy instruments. In this period of time, we have witnessed the rise of the phenomenon of youth unemployment and, more recently, of joblessness. Still, youth fares quite differently across European countries. These differentials seem to be linked to institutional features of educational systems (school-to-work transitions) and labour markets (insiders-outsiders divide), and their interactions. Remedies have concentrated on the supply side of this equation (ALMP, minimum wages), leaving on the side the demand one (job creation). We conclude drawing some implications for the Chilean youth labour market concerning the necessity to develop active labour market measures to improve the transition to work processes, and to deal with the strong segmentation which still characterizes it.

An analysis of implied volatility jump dynamics: Novel functional data representation in crude oil markets

The predominant fear in capital markets is that of a price spike. Commodity markets differ in that there is a fear of both upward and down jumps, this results in implied volatility curves displaying distinct shapes when compared to equity markets. The use of a novel functional data analysis (FDA) approach, provides a framework to produce and interpret functional objects that characterise the underlying dynamics of oil future options. We use the FDA framework to examine implied volatility, jump risk, and pricing dynamics within crude oil markets. Examining a WTI crude oil sample for the 2007–2013 period, which includes the global financial crisis and the Arab Spring, strong evidence is found of converse jump dynamics during periods of demand and supply side weakness. This is used as a basis for an FDA-derived Merton (1976) jump diffusion optimised delta hedging strategy, which exhibits superior portfolio management results over traditional methods.

Managing Future offshore wind power variability in a European Supergrid

The future European power system will have a hierarchical structure created by layers of system control from a Supergrid via regional high-voltage transmission through to medium and low-voltage distribution. Each level will have generation sources such as large-scale offshore wind, wave, solar thermal, nuclear directly connected to this Supergrid and high levels of embedded generation, connected to the medium-voltage distribution system. It is expected that the fuel portfolio will be dominated by offshore wind in Northern Europe and PV in Southern Europe. The strategies required to manage the coordination of supply-side variability with demand-side variability will include large scale interconnection, demand side management, load aggregation and storage in the context of the Supergrid combined with the Smart Grid. The design challenge associated with this will not only include control topology, data acquisition, analysis and communications technologies, but also the selection of fuel portfolio at a macro level. This paper quantifies the amount of demand side management, storage and so-called 'back-up generation' needed to support an 80% renewable energy portfolio in Europe by 2050. © 2013 IEEE.

Wind generation and electricity demand during the severe winter of 2009/10 in Ireland

Throughout the world the share of wind power in the generation mix is increasing. In the All Island Grid, of the Republic of Ireland and Northern Ireland there is now over 1.5 GW of installed wind power. As the penetration of these variable, non-dispatchable generators increases, power systems are becoming more sensitive to weather events on the supply side as well as on the demand side. In the temperate climate of Ireland, sensitivity of supply to weather is mainly due to wind variability while demand sensitivity is driven by space heating or cooling loads. The interplay of these two weather-driven effects is of particular concern if demand spikes driven by low temperatures coincide with periods of low winds. In December 2009 and January 2010 Ireland experienced a prolonged spell of unusually cold conditions. During much of this time, wind generation output was low due to low wind speeds. The impacts of this event are presented as a case study of the effects of weather extremes on power systems with high penetrations of variable renewable generation.

Market Economies with an Endogenous Social Division of Labour

This paper considers a general equilibrium theory of a competitive market economy with an endogenous social division of labour. The theory is founded on the notion of a “consumer- producer”, who consumes as well as produces commodities. In this approach, the emergence of a meaningful social division of labour is guided by the property of increasing returns to specialisation and the process of trade among fully specialised individuals. All decisions of individual consumer-producers are based on a set of perfectly competitive market prices of the commodities in the economy.
We show that a perfectly competitive price mechanism supports a dichotomy of production and consumption at the level of the individual consumer-producer. In this context we show existence of competitive equilibria and characterise these equilibria under increasing returns to specialisation: Under certain well-described conditions, markets are equilibrated through adjustment of the social division of labour; therefore prices are fully determined by the supply side of the economy.

Gendered Candidate Selection and the Representation of Women in Northern Ireland

In an attempt to account for the exceptionally low levels of female representation in Northern Ireland, this paper provides an analysis of the contemporary candidate selection procedures of the region's five main political parties. Drawing on evidence gathered from 29 elite interviews, plus official internal party documents, the study finds that the localised nature of the parties' selection procedures may disadvantage women aspirants. Also important are ‘supply-side’ factors influencing legislative recruitment and female participation rates, namely the strongly embedded social norm of female domestic responsibility, a masculinised political culture and the lack of confidence of potential female candidates.

Holding the Door Half (?) Open: the EU and Turkey 10 years on

A decade of accession negotiations with the EU has not brought Turkey significantly closer to EU membership. In part the reasons lie with Turkey. This article, however, explores the position of the EU and the ‘supply-side’ of enlargement. It reflects on developments in how the EU has engaged with Turkey on the question of membership, situating Turkey’s candidacy and the EU’s position within the broader comparative context of how the process and politics of EU enlargement have evolved over the last ten years. It focuses on a set of supply-side variables that are key to determining the progress that applicants can make towards membership: member state preferences, the activism of supranational institutional actors, the EU’s integration capacity, public opinion in the EU towards enlargement, and the narratives deployed in justification of enlargement. The article also considers the state of Turkey’s accession negotiations and how they have been and potentially will be affected, assuming they are meaningfully revived, by the evolving nature and substance of EU accession negotiations more generally and EU’s approach to conditionality.

The Bright Side of Manufacturing–Remanufacturing Conflict in a Decentralised Closed-Loop Supply Chain

Researchers and managers broadly agree that original equipment manufacturers (OEMs), which have opportunities to produce both new and remanufactured products, are better off by centrally controlling their manufacturing and remanufacturing activities. Thus, OEMs should not remanufacture used products until the remanufacturing cost is sufficiently low to overcome the negative impact of new product cannibalisation. In this paper, we present a contrasting view of the manufacturing–remanufacturing conflict: OEMs sometimes benefit from the decentralised control mode under which they ignore the internal cannibalisation rather than the remanufacturing option. We consider a decentralised closed-loop supply chain in which one OEM can purchase new components from one supplier to produce new products and collect used products from consumers to produce remanufactured products. The key feature of our model is that the OEM can select a centralised or decentralised control mode to manage its manufacturing and remanufacturing activities before the supplier prices the new component. In a steady state period setting, we analyse the players’ optimal decisions and compare the OEM's profits under centralised and decentralised control modes. Our analytic results reveal that the decentralised control within the OEM can outperform the centralised control when the cost structure of producing new and remanufactured products satisfies certain conditions. Finally, the key findings are distilled in a conceptual framework and its managerial implications are discussed.

Coordinated control of DFIG’s rotor and grid side converters during network unbalance

This paper proposes a coordinated control of the rotor and grid side converters (RSC & GSC) of doubly-fed induction generator (DFIG) based wind generation systems under unbalanced voltage conditions. System behaviors and operations of the RSC and GSC under unbalanced voltage are illustrated. To provide enhanced operation, the RSC is controlled to eliminate the torque oscillations at double supply frequency under unbalanced stator supply. The oscillation of the stator output active power is then cancelled by the active power output from the GSC, to ensure constant active power output from the overall DFIG generation system. To provide the required positive and negative sequence currents control for the RSC and GSC, a current control strategy containing a main controller and an auxiliary controller is analyzed. The main controller is implemented in the positive (dq)+ frame without involving positive/negative sequence decomposition whereas the auxiliary controller is implemented in the negative sequence (dq)? frame with negative sequence current extracted. Simulation results using EMTDC/PSCAD are presented for a 2MW DFIG wind generation system to validate the proposed control scheme and to show the enhanced system operation during unbalanced voltage supply.

Management of public water supply to reduce power cost and improve wind power uptake

This paper presents a study on the implementation of Real-Time Pricing (RTP) based Demand Side Management (DSM) of water pumping at a clean water pumping station in Northern Ireland, with the intention of minimising electricity costs and maximising the usage of electricity from wind generation. A Genetic Algorithm (GA) was used to create pumping schedules based on system constraints and electricity tariff scenarios. Implementation of this method would allow the water network operator to make significant savings on electricity costs while also helping to mitigate the variability of wind generation.

Management of public water supply to reduce energy cost and improve wind power uptake

This paper presents a study on the implementation of Real-Time Pricing (RTP) based Demand Side Management (DSM) of water pumping at a clean water pumping station in Northern Ireland, with the intention of minimising electricity costs and maximising the usage of electricity from wind generation. A Genetic Algorithm (GA) was used to create pumping schedules based on system constraints and electricity tariff scenarios. Implementation of this method would allow the water network operator to make significant savings on electricity costs while also helping to mitigate the variability of wind generation.