Download or read book Causes of the Crisis in the Electricity Industry and Future Policy Directions written by Il-Chong Nam and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2001, South Korea restructured its electric power industry and introduced competition to the industry, but it has failed to establish an effective system of competition. Since the restructuring took place in 2001, electric power is being produced and investment is being made in power generation facilities through competition between generation companies. However, due to structural problems in the market transaction system that determine the actual effectiveness of competition in the electric power industry, this competition is not taking place effectively. Furthermore, the price regulation system for the transmission, distribution, and retailing of electricity, which remain under monopoly control, and the ownership structure of Korea Electric Power Corporation (KEPCO) and KEPCO's subsidiary generation companies remain stuck in the mindset of the government monopoly system that preceded the restructuring. As a result, KEPCO and its subsidiaries continue to experience internal inefficiency, and the distribution of resources within the power industry continues to be inefficient as well. The chronic supply crisis, the unending inadequacy of facilities, the excessive consumption of power, KEPCO's large-scale accumulated deficit, the inefficient management of KEPCO and its subsidiary generation companies, and the frequent accidents that have occurred over the past few years are all caused by the failure of policies concerning management, regulation, and government-run companies in the power industry. In order to normalize the power industry and increase its efficiency, it is necessary to strengthen policies governing competition in the power industry. It is also necessary to implement the kind of pricing and government-run company governance systems that are used in advanced countries, systems that are grounded in the profit motive and economic efficiency. In the wholesale power market, direct price competition should be permitted under a price cap, just as in the PJM market in the eastern US. In the capacity market, the current spot market format should be converted to a forward contract market that takes into account the time required for investment in facilities. The system must be changed to eliminate excessive profit, which violates market principles, without hampering competition. Vesting contracts should be introduced to base load plants and other power generation facilities that were constructed in the past; entrance limitations should be abolished for the construction of additional base load plants; and business operators should be chosen through competitive bidding in cases where there is some kind of entrance barrier resulting from location or environmental issues. After introducing optimal rate-of-return regulations in the respective categories of transmission, distribution, and retailing, these regulations should be converted to price cap regulations early on. In addition, the governance structure of KEPCO and its subsidiary utilities must be reoriented toward maximizing the profit motive and giving management more discretion so that these government-run companies can compete with companies in the private sector. The power industry as it exists today has dealt with instability for the 10 years that have passed since 2003. The structure of the industry must also be reoriented to maximize competition.
Download or read book The Energy Crisis written by David Lewis Feldman and published by . This book was released on 1996 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The energy crisis of 1973-1974 was a pivotal event in twentieth-century American history. In the wake of the Vietnam War, it exposed the nation's economic vulnerability to foreign powers and precipitated an awareness of limits to the exploitation of natural resources. Further, it forced Americans and the American government in particular to think about the future of energy production and consumption in novel waysand made such thinking more imperative than ever. Twenty years later, questions about the energy crisis persist. What were the underlying causes of the crisis? What did we learn from it? How has it affected our current energy policies? Will another energy crisis occur in our future? In The Energy Crisis, David Lewis Feldman brings together a wide range of energy policy experts to address these questions and explore the appropriate role of governments and markets in ensuring a stable, economical, and sustainable energy supply. The authors locate the energy crisis in its historical context and find that, contrary to popular opinion, the Arab oil embargo was not responsible for the energy crisis. Rather, they contend, the crisis was caused by a series of short-sighted policy decisions meant to bring Americans cheaper energy and a cleaner environment. The contributors to The Energy Crisis conclude that the crisis was resolved by a combination of market forces and government intervention, and they offer perspectives on the need to sustain long-term interest in public/private partnerships in the face of short-term political and economic demands.
Download or read book Lights Out written by Jason Makansi and published by John Wiley & Sons. This book was released on 2007-06-04 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: A behind-the-scenes exposure why our electricity system is headed for a state of emergency-and what can be done to head it off Most people don't realize that skyrocketing global energy demand and economic growth severely affect the supply of electricity. Between production (power plants) and delivery is an antiquated, "third-world" transmission grid that is in desperate need of hardening against breakdowns, terrorist attacks, inadequate carrying capacity, and operational obsolescence. And while electricity doesn't hold the headlines or dramatic power of oil, the ability to ensure its uninterrupted supply at a reasonable price is even more essential to global survival and prosperity. Lights Out is today's most detailed, in-depth examination of this largely unreported looming energy crisis. Written by one of the world's top electricity industry experts, this powerful book covers numerous hot button economic and political issues-free markets versus regulation; energy independence versus foreign imports; nuclear power, global warming, and other environmental issues; and much more. Beyond just uncovering and illuminating the problems, however, it proposes a comprehensive road map of technical solutions and regulatory reform from both the production and demand sides of the equation-a framework for rethinking, rebuilding, and enhancing the entire electricity production and delivery infrastructure. Prescriptive and provocative, Lights Out will redefine the simmering debate on how the world can-and must-act now to head off a global catastrophe, one that could eventually wreak even more havoc than the ongoing oil crisis. Jason Makansi is the President of Pearl Street, Inc., a consulting firm; Principal of PS Liquidity Advisors, an advisory service for energy technology companies raising capital; and Executive Director of the Energy Storage Council, a public-policy advocacy organization. A prolific author, respected industry thought leader, and seasoned communicator, Mr. Makansi has been analyzing the technological, business, and regulatory issues in electricity production and delivery for over twenty-five years. He earned a BS in chemical engineering from Columbia University. His earlier books include An Investor’s Guide to the Electricity Economy, also published by John Wiley & Sons, and Managing Steam: An Engineering Guide to Commercial, Industrial, and Utility Systems.
Download or read book The California Electricity Crisis written by Christopher Weare and published by Public Policy Instit. of CA. This book was released on 2003 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Our Common Future written by and published by . This book was released on 1990 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Download or read book Reliable Affordable and Environmentally Sound Energy for America s Future written by United States. National Energy Policy Development Group and published by Group Publishing (Company). This book was released on 2001 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book Analyzing Energy Crises and the Impact of Country Policies on the World written by Özel Özcan, Merve Suna and published by IGI Global. This book was released on 2023-12-21 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an age marked by unparalleled industrialization and technological strides, intricate energy challenges reverberate through economies, societies, and international relations. The world's dependence on fossil fuels and delicate energy supply chains lays bare the vulnerability to imminent energy crises, carrying extensive economic, social, and geopolitical implications. Analyzing Energy Crises and the Impact of Country Policies on the World steps in as a vital resource, meticulously navigating historical contexts, current crises, and policy-driven influences shaping the energy panorama. This book empowers policymakers, researchers, stakeholders, and students, fostering a profound comprehension of energy dynamics. It unveils the origins of crises, scrutinizes vulnerabilities across supply and demand, and underscores the pivotal role played by major energy stakeholders in shaping global markets. Ultimately, the book offers a guiding light to decision-makers, illuminating proactive strategies and urging transformative solutions to steer the world toward an energy future that is both secure and sustainable.
Download or read book U S Energy Policy which Direction written by National Science Teachers Association and published by . This book was released on 1979 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Download or read book Enhancing the Resilience of the Nation s Electricity System written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-10-25 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: Americans' safety, productivity, comfort, and convenience depend on the reliable supply of electric power. The electric power system is a complex "cyber-physical" system composed of a network of millions of components spread out across the continent. These components are owned, operated, and regulated by thousands of different entities. Power system operators work hard to assure safe and reliable service, but large outages occasionally happen. Given the nature of the system, there is simply no way that outages can be completely avoided, no matter how much time and money is devoted to such an effort. The system's reliability and resilience can be improved but never made perfect. Thus, system owners, operators, and regulators must prioritize their investments based on potential benefits. Enhancing the Resilience of the Nation's Electricity System focuses on identifying, developing, and implementing strategies to increase the power system's resilience in the face of events that can cause large-area, long-duration outages: blackouts that extend over multiple service areas and last several days or longer. Resilience is not just about lessening the likelihood that these outages will occur. It is also about limiting the scope and impact of outages when they do occur, restoring power rapidly afterwards, and learning from these experiences to better deal with events in the future.
Download or read book Future of solar photovoltaic written by International Renewable Energy Agency IRENA and published by International Renewable Energy Agency (IRENA). This book was released on 2019-11-01 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study presents options to fully unlock the world’s vast solar PV potential over the period until 2050. It builds on IRENA’s global roadmap to scale up renewables and meet climate goals.
Download or read book Private Participation in the Indian Power Sector written by Mohua Mukherjee and published by World Bank Publications. This book was released on 2014-10-21 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: Massive private investment that complements public investment is needed to close the demand-supply gap and make reliable power available to all Indians. Government efforts have sought to attract private sector funding and management efficiency throughout the electricity value chain, adapting its strategy over time.
Download or read book Energy Abstracts for Policy Analysis written by and published by . This book was released on 1989 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Water Electricity and the Poor written by Kristin Komives and published by World Bank Publications. This book was released on 2005 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reviews the prevalence and variants of consumer subsidies found in the developing world and the effectiveness of these subsidies for the poor. It places consumer subsidies in a broader social protection framework and compares them with poverty-focused programmes in other sectors using a common metric. It concludes that the most common subsidy instruments perform poorly in comparison with most other transfer mechanisms. Alternative consumption and connection subsidy mechanisms show more promise, especially when combined with complementary non-price approaches to making utility services accessible and affordable to poor households. The many factors contributing to those outcomes are dissected, identifying those that can be controlled and used to improve performance.
Download or read book Markets for Power written by Paul L. Joskow and published by MIT Press (MA). This book was released on 1988-08-01 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely study evaluates four generic proposals for allowing free market forces toreplace government regulation in the electric power industry and concludes that none of thederegulation alternatives considered represents a panacea for the performance failures associatedwith things as they are now. It proposes a balanced program of regulatory reform and deregulationthat promises to improve industry performance in the short run, resolve uncertainties about thecosts and benefits of deregulation, and positions the industry for more extensive deregulation inthe long run should interim experimentation with deregulation, structural, and regulatory reformsmake it desirable.The book integrates modern microeconomic theory with a comprehensive analysis ofthe economic, technical, and institutional characteristics of modern electrical power systems. Itemphasizes that casual analogies to successful deregulation efforts in other sectors of the economyare an inadequate and potentially misleading basis for public policy in the electric power industry,which has economic and technical characteristics that are quite different from those in otherderegulated industries.Paul L. Joskow is Professor of Economics at MIT, author of ControllingHospital Costs (MIT Press 1981) and coauthor with Martin L. Baughman and Dilip P. Kamat of ElectricPower in the United States (MIT Press 1979). Richard Schmalensee, also at MIT, is Professor ofApplied Economics, author of The Economics of Advertising and The Control of Natural Monopolies, andeditor of The MIT Press Series, Regulation of Economic Activity.
