Energy, Natural Resources and Environmental Economics

1. Front Matter

   Pages i-xviii

   PDF

2. Petroleum and Natural Gas

   1. Front Matter

      Pages 1-1

      PDF

   2. Investment Strategy of Sovereign Wealth Funds

      • Trond Døskeland

      Pages 3-17

   3. Chasing Reserves: Incentives and Ownership

      • Petter Osmundsen

      Pages 19-38

   4. Elastic Oil: A Primer on the Economics of Exploration and Production

      • Klaus Mohn

      Pages 39-58

   5. Applied Mathematical Programming in Norwegian Petroleum Field and Pipeline Development: Some Highlights from the Last 30 Years

      • Bjørn Nygreen, Kjetil Haugen

      Pages 59-69

   6. Analysis of Natural Gas Value Chains

      • Kjetil T. Midthun, Asgeir Tomasgard

      Pages 71-82

   7. On Modeling the European Market for Natural Gas

      • Lars Mathiesen

      Pages 83-100

   8. Equilibrium Models and Managerial Team Learning

      • Anna Mette Fuglseth, Kjell Grønhaug

      Pages 101-114

   9. Refinery Planning and Scheduling: An Overview

      • Jens Bengtsson, Sigrid-Lise Nonås

      Pages 115-130

3. Electricity Markets and Regulation

   1. Front Matter

      Pages 131-131

      PDF

   2. Multivariate Modelling and Prediction of Hourly One-Day Ahead Prices at Nordpool

      • Jonas Andersson, Jostein Lillestøl

      Pages 133-154

   3. Time Regularities in the Nordic Power Market: Potentials for Profitable Investments and Trading Strategies?

      • Ole Gjølberg

      Pages 155-166

   4. Valuation and Risk Management in the Norwegian Electricity Market

      • Petter Bjerksund, Heine Rasmussen, Gunnar Stensland

      Pages 167-185

   5. Stochastic Programming Models for Short-Term Power Generation Scheduling and Bidding

      • Trine Krogh Kristoffersen, Stein-Erik Fleten

      Pages 187-200

   6. Optimization of Fuel Contract Management and Maintenance Scheduling for Thermal Plants in Hydro-based Power Systems

      • Raphael Martins Chabar, Sergio Granville, Mario Veiga F. Pereira, Niko A. Iliadis

      Pages 201-219

   7. Energy Portfolio Optimization for Electric Utilities: Case Study for Germany

      • Steffen Rebennack, Josef Kallrath, Panos M. Pardalos

      Pages 221-246

   8. Investment in Combined Heat and Power: CHP

      • Göran Bergendahl

      Pages 247-266

   9. Capacity Charges: A Price Adjustment Process for Managing Congestion in Electricity Transmission Networks

      • Mette Bjørndal, Kurt Jörnsten, Linda Rud

      Pages 267-292

   10. Harmonizing the Nordic Regulation of Electricity Distribution

       • Per J. Agrell, Peter Bogetoft

       Pages 293-316

This book consists of a collection of articles describing the emergingand integrated area of Energy,Natural Resourcesand EnvironmentalEconomics.A majority of the authors are researchers doing applied work in economics, nance, and management science and are based in the Nordic countries. These countries have a long tradition of managing natural resources. Many of the applications are therefore founded on such examples. The book contents are based on a workshop that took place during May 15–16, 2008 in Bergen, Norway. The aim of the workshop was to create a meeting place for researchers who are active in the area of Energy, Natural Resource, and En- ronmentalEconomics,andat the same time celebrate ProfessorKurtJorns ¨ ten’s60th birthday. Thebookis dividedintofourparts. The rst part considerspetroleumandnatural gas applications, taking up topics ranging from the management of incomes and reserves to market modeling and value chain optimization. The second and most extensive part studies applications from electricity markets, including analyses of market prices, risk management, various optimization problems, electricity market design, and regulation. The third part describes different applications in logistics and management of natural resources. Finally, the fourth part covers more general problems and methods arising within the area.

• Environmental economics
• electricity market design
• electricity markets
• management of natural resources
• natural gas
• petroleum
• production
• value chain optimization

• Business Administration, Department of Science and Management Sci, Norwegian School of Economics and, Bergen, Norway

  Endre Bjørndal

• , Department of Science and Management Sci, Norwegian School of Economics and Busine, Bergen, Norway

  Mette Bjørndal

• Dept. Industrial & Systems, Engineering, University of Florida, Gainesville, USA

  Panos M. Pardalos

• Business Administration, Dept Science, Management Science, Norwegian School of Economics and, Bergen, Norway

  Mikael Rönnqvist

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