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Energy storage (ES) can help decarbonize power systems by transferring green renewable energy across time. How to unlock the potential of ES in cutting carbon emissions by appropriate market incentives has become a crucial, albeit…
Reliable gas price forecasts are an essential information for gas and energy traders, for risk managers and also economists. However, ahead of the war in Ukraine Europe began to suffer from substantially increased and volatile gas prices…
We consider the problem of reducing the carbon emissions of a set of firms over a finite horizon. A regulator dynamically allocates emission allowances to each firm. Firms face idiosyncratic as well as common economic shocks on emissions,…
The European Union is engaged in the fight against climate change. A crucial issue to enforce common environmental guidelines is environmental convergence. States converging in environmental variables are expected to be able to jointly…
Large-scale renewable energy deployment introduces pronounced volatility into the electricity system, turning grid operation into a complex stochastic optimization problem. Accurate electricity price forecasting (EPF) is essential not only…
This study analyses the current viability of this business based on a sample of European countries in the year 2019; countries where electricity prices (day-ahead market) and financial conditions show a certain degree of heterogeneity. We…
Energy system models for long-term planning are widely used to explore the future electricity system. Typically, to represent the future electricity demand in these models, historical demand profiles are used directly or scaled up linearly.…
No matter its source, financial- or policy-related, uncertainty can feed onto itself, inflicting the real economic sector, altering expectations and behaviours, and leading to identification challenges in empirical applications. The strong…
We investigate the impact of several critical events associated with the Russo Ukrainian war, started officially on 24 February 2022 with the Russian invasion of Ukraine, on ten European electricity markets, two natural gas markets (the…
Equity auctions display several distinctive characteristics in contrast to continuous trading. As the auction time approaches, the rate of events accelerates causing a substantial liquidity buildup around the indicative price. This, in…
We examine the small expiry behaviour of European call options in stock price models of exponential L\'evy type. In most cases of interest, we are able to identify the exact small expiry asymptotics. In "complete generality" we are able to…
To enable the participation of stochastic distributed energy resources in ancillary service markets, the Danish transmission system operator, Energinet, mandates that flexibility providers satisfy a minimum 90% reliability requirement for…
Relativistic runaway electrons are a major concern in tokamaks. The European framework for Integrated Modelling (EU-IM), facilitates the integration of different plasma simulation tools by providing a standard data structure for…
Thirty years ago Breneman and Stone observed that the enhancement or suppression of element abundances in large solar energetic-particle (SEP) events varies as a power of the mass-to-charge ratio, A/Q, of the elements. Since Q during…
A new, general formalism to include experimental data in revised stellar rates is discussed, containing revised uncertainties. Application to the s-process shows that the actual uncertainties in the neutron capture rates can be larger than…
The validity of an approximation formula for European option prices under a general stochastic volatility model is proved in the light of the Edgeworth expansion for ergodic diffusions. The asymptotic expansion is around the Black-Scholes…
Climate and energy policy targets of the European Commission aim to make Europe the first climate-neutral continent by 2050. For low-carbon and net-neutral energy systems primarily based on variable renewable power generation, issues…
A low carbon society aims at fighting global warming by stimulating synergic efforts from governments, industry and scientific communities. Decision support systems should be adopted to provide policy makers with possible scenarios, options…
Motivated by Germany's April 2026 fuel price regulation, in this note I study a two-period pricing problem with demand uncertainty and a rule that prohibits more than one price increase during the day. Under flexible pricing, the firm…
We study the statistics of earning forecasts of US, EU, UK and JP stocks during the period 1987-2004. We confirm, on this large data set, that financial analysts are on average over-optimistic and show a pronounced herding behavior. These…