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Pricing intermittent renewable energy
Get PDFThe energy transition requires significant investment in intermittent renewable energy sources, such as solar and wind power. New generation capacities are generally procured through fixed price contracts, such as power purchase agreements and contracts for difference, or feed-in tariffs. With these designs, renewable technologies are selected based on their generation, regardless of their adequacy with demand and supply by other technologies. We show that fixed-price contracts implement the optimal portfolio of renewable technologies if the price is adjusted with a technology-specific bonus-malus system that depends on the correlation between renewable energy production and the wholesale electricity price. We estimate the bonus-malus for solar and wind power in California, France, Germany, and Spain and decompose it to identify the key market factors driving the adjustment. We argue that the bonus-malus measures the cost of integrating intermittent generation into the energy mix. Therefore, it should be added to the levelized cost of energy (LCOE) to obtain the cost of generating an additional megawatt-hour with a specific renewable technology
Action ut singuli : à bas les préjugés ! (note ss. Cass. com., 7 mai 2025, n° 23-15.931 et Cass. Com., 18 juin 2025, n° 22-16.781)
No full textConvention de quasi-usufruit et acte authentique : les limites de la « pleine foi » (Cass. Com., 12 mars 2025, n° 23-21.706)
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Devoir de vigilance de la SNCF : le train passe sans s'arrêter (note ss. TJ Paris, 3 févr. 2025, n° 24/11283)
No full textDétermination des droits successoraux du conjoint survivant gratifié en présence d'un enfant non commun (Cass. civ. 1, 5 mars 2025, n° 23-11.430)
No full textGetting ready for the Anthropocene: Overcoming obstacles on the development path for municipal water and sanitation services
No full textThis paper describes three phases that cities go through for the delivery of municipal water and sanitation services, identifying the main political, technological, socio-institutional, financial, public health forces of disequilibria that push cities along this development path. Data from the Global Water Intelligence and the World Bank’s International Benchmarking Network show that most of the countries with utilities with limited piped water coverage (Phase 1) have an annual GDP per capita less than US10 000 have close to universal piped water coverage (Phase 3). We find no statistically significant relationship between country-level water scarcity and the average water prices charged by utilities in a country. We discuss a comprehensive policy mix with four components that municipal water utilities need to address the growing water deficits as rising demands confront limited supplies: (1) reduction of nonrevenue water, (2) source diversification, (3) reduction of customer water use, and (4) establishment of financial reserves to address climate-related emergencies
Indirect genetic effects among neighbors promote cooperation and accelerate adaptation in a small-scale human society
No full textExplaining the rapid evolution of human cooperation and its role in our species’ biodemographic success remains a major evolutionary puzzle. To address this challenge, we tested a social drive hypothesis, which predicts that social plasticity and social selection in human groups cause indirect genetic effects that accelerate the adaptation of fitness, promoting population growth via feedback between the environmental causes and evolutionary consequences of cooperation. Using Bayesian multilevel models to analyze fertility data from a small-scale society, we demonstrate that density- and frequency-dependent indirect genetic effects on fitness promote the evolution of cooperation among neighboring women, increasing the rate of contemporary adaptation by ~5×. Our results show how interactions between the genetic and socioecological processes shaping cooperation in reproduction can drive rapid growth and social evolution in human populations
