About the Project
In other words, part of the supply inflexibility resulting in negative prices is due to the provision of the PTC for renewable energy generation. There is evidence, in fact, that wind plants claiming the Investment Tax Credit (“ITC”) are incentivised to generate at least 10% less electricity than those claiming the PTC (Aldy et al 2019). However, there is also evidence in four of the largest US electricity markets that marginal emissions tend to be higher (not lower) when electricity prices are negative. In other words, an output subsidy, such as the PTC, effectively encourages electricity production, but could be less efficient than a Pigouvian tax for the control of carbon. Moreover, the price level and its duration over time are some of the most important signals for capacity investments. Unprofitably low prices could discourage additions to capacity or cause profound distortions in investment decisions. These issues are at the heart of the energy transition (from fossil fuels to renewables) and climate change.
The PhD project we are proposing, decidedly an interdisciplinary initiative, seeks to assess the social welfare implications (Sunstein 2017) of the generation capacity mix in light of the tendency for negative electricity prices. We envision the construction and operation of a policy simulation tool, in particular, an optimisation model, reflecting the technical, commercial, and regulatory characteristics of electric power markets (Gabriel et al 2013). Such an optimisation tool could shed light on various cognate topics, such as inter-temporal or locational pricing, strategic behaviour amongst competitors (Hakam and Macatangay 2018), poorly designed legislation or regulation (Macatangay and Rieu-Clarke 2018; Clarvis et al 2014), or climate change (Maran et al 2014), especially the crucial role of policies promoting renewables or pricing carbon.
For informal enquiries about the project, contact Dr Rafael Emmanuel Macatangay (r.e.a.[email protected])
For general enquiries about the University of Dundee, contact [email protected]
Applicants must have obtained a 2.1 UK honours degree or higher in a relevant discipline, or equivalent for degrees obtained outside the UK. Applicants should normally have a good taught Masters degree (e.g. an average of B or higher) or equivalent in a relevant discipline from a recognised university.
English language requirement: IELTS (Academic) score must be at least 6.5 (with not less than 5.5 in each of the four components). Other, equivalent qualifications will be accepted. Full details of the University’s English language requirements are available online: http://www.dundee.ac.uk/guides/english-language-requirements.
Step 1: Email Dr Rafael Emmanuel Macatangay ([email protected]) to (1) send a copy of your CV and (2) discuss your potential application and any practicalities (e.g. suitable start date).
Step 2: After discussion with Dr Macatangay, formal applications can be made via UCAS Postgraduate. When applying, please follow the instructions below:
Apply for the Doctor of Philosophy (PhD) degree in the Centre for Energy, Petroleum and Mineral Law and Policy: https://digital.ucas.com/coursedisplay/courses/d62f054d-7fcd-a6b9-5cdf-ef709bccc45e. Select the start date and study mode (full-time/part-time) agreed with the lead supervisor.
In the ‘provider questions’ section of the application form:
- Write the project title and ‘FindAPhD.com’ in the ‘if your application is in response to an advertisement’ box;
- Write the lead supervisor’s name and give brief details of your previous contact with them in the ‘previous contact with the University of Dundee’ box.
In the ‘personal statement’ section of the application form, outline your suitability for the project selected.
Clarvis M, Allan A, Hannah D (2014) “Water, resilience and the law: From general concepts and governance design principles to actionable mechanisms” Environmental Science & Policy 43: 98–110
EIA (2012) “Negative prices in wholesale electricity markets indicate supply inflexibilities” February 23rd. https://www.eia.gov/todayinenergy/detail.php?id=5110.
EIA (2017) “Rising solar generation in California coincides with negative wholesale electricity prices” April 7th
Gabriel S, Conejo A, J Fuller, Hobbs B, Ruiz C (2013) Complementarity modeling in energy markets. Springer, New York Heidelberg Dordrecht London
Hakam D, Macatangay R (2018) “Optimising Indonesia’s electricity market structure: evidence of Sumatra and Java-Bali power system” Proceedings of the 19th International Conference on Industrial Technology. Lyon, France: IEEE https://doi.org/10.1109/ICIT.2018.8352360
Macatangay R, Rieu-Clarke A (2018) “The role of valuation and bargaining in optimising transboundary watercourse treaty regimes” International Environmental Agreements: Politics, Law and Economics https://doi.org/10.1007/s10784-018-9396-y
Maran A, Volonterio M, Gaudard L (2014) “Climate change impacts on hydropower in an alpine catchment” Environmental Science & Policy 43: 15-25
Sunstein C (2017) “Cost-benefit analysis and arbitrariness review” Harvard Environmental Law Review 41: 1-41
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