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Energy cost modelling of new technology adoption for Russian regional power and heat generation

Author

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  • Alexandra Bratanova

    (Department of Economics, University of Queensland)

  • Jacqueline Robinson

    (Department of Economics, University of Queensland)

  • Liam Wagner

    (Department of Economics, University of Queensland)

Abstract

Russia is frequently referred to as a country with sufficient energy efficiency potential. Although an improvement has been shown (energy-GDP ratios were improved by 35% between 2000-2008 [2]), the contribution of technological progress is estimated to account for only 1% of the energy-GDP ratio reduction, the existing share of renewable energy sources (RES) based electricity generation is estimated at 0.1%. Analysis shows that regional and federal levels of governance in Russia are missing efficient mechanisms for stimulation of energy saving and technological development [7]. This research aims to develop an analytical tool for energy sector economic analysis for technological development planning to support policy decision making. The paper adapts the levelized cost of energy (LCOE) methodology of Wagner and Foster [9], which has been upgraded to facilitate combined energy generation processes, to examine the cost structures associated with energy system and applies it to a Russian regional case study. The model run for two fuel price scenarios allowed us to conclude that the regional energy supply system is dependent on natural gas price. Strong political and financial support is needed to boost technological development and RES application.

Suggested Citation

  • Alexandra Bratanova & Jacqueline Robinson & Liam Wagner, 2012. "Energy cost modelling of new technology adoption for Russian regional power and heat generation," Energy Economics and Management Group Working Papers 9-2012, School of Economics, University of Queensland, Australia.
    • Handle: RePEc:qld:uqeemg:9-2012
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    File URL: http://www.uq.edu.au/eemg/docs/workingpapers/2012-09.pdf
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    References listed on IDEAS

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    1. repec:dgr:rugsom:02e45 is not listed on IDEAS
    2. Paul Simshauser & Phillip Wild, 2009. "The Western Australian Power Dilemma," Australian Economic Papers, Wiley Blackwell, vol. 48(4), pages 342-369, December.
    3. Branker, K. & Pathak, M.J.M. & Pearce, J.M., 2011. "A review of solar photovoltaic levelized cost of electricity," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(9), pages 4470-4482.
    4. Nathalie Trudeau & Isabel Murray, 2011. "Development of Energy Efficiency Indicators in Russia," IEA Energy Papers 2011/1, OECD Publishing.
    5. Kalashnikov, Victor & Gulidov, Ruslan & Ognev, Alexander, 2011. "Energy sector of the Russian Far East: Current status and scenarios for the future," Energy Policy, Elsevier, vol. 39(11), pages 6760-6780.
    6. Salomons, Roelof & Grootveld, Henk, 2002. "The equity risk premium: emerging versus developed markets," Research Report 02E45, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
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    Cited by:

    1. Alexandra Bratanova & Jacqueline Robinson & Liam Wagner, 2013. "New Technology Adoption for Russian Regional Energy Generation: Moscow Case Study," Energy Economics and Management Group Working Papers 4-2013, School of Economics, University of Queensland, Australia.
    2. Bratanova, Alexandra & Robinson, Jacqueline & Wagner, Liam, 2015. "Modification of the LCOE model to estimate a cost of heat and power generation for Russia," MPRA Paper 65925, University Library of Munich, Germany.
    3. Foster, John & Wagner, Liam & Liebman, Ariel, 2017. "Economic and investment models for future grids: Final Report Project 3," MPRA Paper 78866, University Library of Munich, Germany.

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    Keywords

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    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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