The impac t of carbon prices on CCS investment in South East Europe

Titolo Rivista ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT
Autori/Curatori Alfredo Viskovic, Vladimir Valentic, Vladimir Franki
Anno di pubblicazione 2014 Fascicolo 2013/3 Lingua Inglese
Numero pagine 30 P. 91-120 Dimensione file 952 KB
DOI 10.3280/EFE2013-003004
Il DOI è il codice a barre della proprietà intellettuale: per saperne di più clicca qui

Qui sotto puoi vedere in anteprima la prima pagina di questo articolo.

Se questo articolo ti interessa, lo puoi acquistare (e scaricare in formato pdf) seguendo le facili indicazioni per acquistare il download credit. Acquista Download Credits per scaricare questo Articolo in formato PDF

Anteprima articolo

FrancoAngeli è membro della Publishers International Linking Association, Inc (PILA)associazione indipendente e non profit per facilitare (attraverso i servizi tecnologici implementati da CrossRef.org) l’accesso degli studiosi ai contenuti digitali nelle pubblicazioni professionali e scientifiche

The aim of this paper is to analyze the feasibility of a new entrant power plant based on coal with an installed Carbon Capture and Storage (CCS) system. The plant will be analysed as an Independent Power Producer (IPP) based in Croatia and therefore a part of the South East European Regional Electricity Market (SEE REM) and a member of EU Emission Trading Scheme (EU ETS) obligated to pay for its emissions through Emission Unit Allowances (EUA). Long Run Marginal Cost (LRMC) of the plant will be calculated and certain sensitivities included. By using a market simulator of the region and implementing the model of the plant in question, the performance of the power plant on the electricity market is evaluated and the influences of different emission prices are analyzed. The research results in a prediction of the price of EUA at which a CCS coal-fired power plant becomes economically justified.

Keywords:Carbon Capture and Storage, Independent Power Producer, Emission Trading Scheme, Emission Unit Allowances, Coal Power Plant, South East European Regional Electricity Market

Jel codes:D24

  1. Aydin G., Karakurt I., Aydiner K. (2010). Evaluation of geologic storage options of CO2: applicability, cost, storage capacity and safety. Energy Policy, 38, 9: 5072-80. DOI: 10.1016/j.enpol.2010.04.035
  2. Bloomberg (2013). Bloomberg website www.bloomberg.com, last accessed 6th June 2013.
  3. Calderia K. (2007). CO2 emissions could violate EPA ocean-quality standards within decades. Carnegie institution for Science, Stanford University.
  4. CESI (2009). Promed vs. 2009A, Software package user`s manual, (MTSP/MTSPQvs 2009A, BUM).
  5. Cormos C-C., Vatopoulos K., Tzimas E. (2013). Assessment of the consumption of water and construction materials in state-of-the-art fossil fuel power generation technologies involving CO2 capture. Energy, 51: 37-49. DOI: 10.1016/j.energy.2012.12.050
  6. Davison, J. (2007). Performance and costs of power plants with capture and storage. Energy, 32: 1163-1176. DOI: 10.1016/j.energy.2006.07.039
  7. Directive 2009/29/EC of the European Parliament and of the council.
  8. EC (2007). A European strategic energy technology plan (SET Plan) – towards a low carbon future. Brussels, Belgium: COM; 723 final.
  9. EC (2008). Communication from the commission. 20 20 20 by 2020: Europe’s climate change opportunity. Brussels, Belgium: COM; 30 final.
  10. EC (2011). A roadmap for moving to a competitive low carbon economy in 2050. Communication from the commission to the European Parliament, the council, the European economic and social committee and the committee of the regions, Brussels.
  11. EEX (2013), European energy exchange website http://www.eex.com/en/, last accessed 6th June 2013.
  12. EU Geocapacity (2007). Assessing European capacity for geological storage of carbon dioxide, Technical reports, FP-518318: EU Geocapacity, 2007. Storage Capacities. WP2.3 D12; 2009.
  13. GCCSI (2010). Global Status of CCS 2010.
  14. Grol E. (2012). Techno-economic analysis of CO2 capture-ready coal-fired power plants, Tech. rep. NETL International Energy Technology Laboratory, U.S. Department of Energy, Office of Fossil Energy.
  15. Habib M.A., Badr H.M., Ahmed S.F., Ben-Mansour R., Mezghani K., Imashuku S., et al. (2011). A review of recent developments in carbon capture utilizing oxy-fuel combustion in conventional and ion transport membrane systems. International Journal of Energy Research, 35, 9: 741-64. DOI: 10.1002/er.1798
  16. HEP-OPS (2013). http://www.hep.hr/ops/en/documents/Publications.aspx, last accessed 6th June 2013.
  17. IEA (2003). Greenhouse Gas R&D Programme (GHG). Potential for improvement in gasification combined cycle power generation with CO2 capture. Report PH4/19, Cheltenham, UK.
  18. IEA (2004). Greenhouse Gas R&D Programme (GHG). Improvement in power generation with post-combustion capture of CO2. Report PH4/33, Cheltenham, UK.
  19. IEA (2010). Energy technology perspectives 2010: scenarios and strategies to 2050: complete edition, Paris: OECD-Organisation for Economic Cooperation and Development/International Energy Agency.
  20. IEA (2010). World Energy Outlook 2010.
  21. IEA (2011). Cost and Performance of Carbon Dioxide Capture from Power Generation, IEA Working Paper, OECD/IEA, Paris.
  22. IEA (2012). Technology roadmap: High efficiency, low emissions coal-fired power generation.
  23. IEA (2013). Electricity in a Climate-Constrained World.
  24. IPCC (2005). Prepared by: Metz B., Davidson O., de Coninck H.C., Loos M., Meyer L.A., IPCC Special Report on Carbon Dioxide Capture and Storage, Cambridge University Press, Cambridge, UK, New York, NY.
  25. KPMG (2011). Power sector development in Europe – Lenders’ perspectives 2011.
  26. Le Moullec J. (2013). Conceptual study of a high efficiency coal-fired power plant with CO2 capture using a supercritical CO2 Brayton cycle. Energy, 49: 32-46. DOI: 10.1016/j.energy.2012.10.022
  27. Martinez R., Suarez I., Zapatero M.A., Saftic B., Kolenkovic I., Car M., Persoglia S., Donda F. (2008). The EU Geocapacity Project – Saline aquifers storage capacity in Group South countries. Energy procedia, 1: 2733-2740.
  28. McKinsey (2007). Carbon capture and storage – Assessing the Economics, McKinsey & Company.
  29. Memorandum of Understanding on the Regional Electricity Market in South East Europe and its Integration into the European Union Internal Electricity Market – “The Athens Memorandum – 2002”, Athens, 15 November 2002.
  30. MIT (2007). The Future of Coal – Options for a Carbon-Constrained World, MIT Press, Cambridge, Mass.
  31. Niels NAHM, Bitter J.H., de Jong K.P. (2010). Support and size effects of activated hydrotalcites for pre-combustion CO2 capture. Industrial & Engineering Chemistry Research, 49, 3: 1229-35. DOI: 10.1021/ie901114d
  32. Pettinau A., Ferrara F., Amorino C. (2013). Combustion vs. gasification for a demonstration CCS (carbon capture and storage) project in Italy: A technoeconomic analysis. Energy, 50: 160-169. DOI: 10.1016/j.energy.2012.12.012
  33. Rubin E.S., Chen C., Rao A.B. (2007). Cost and performance of fossil fuel power plants with CO2 capture and storage. Energy Policy, 35: 4444-4454. DOI: 10.1016/j.enpol.2007.03.009
  34. Rubin E.S., Yeh S., Antes M., Berkenpas M., Davison J. (2007). Use of experience curves to estimate the future cost of power plants with CO2 capture, International Journal of Greenhouse Gas Control, 1, 2: 188-197. DOI: 10.1016/S1750-5836(07)00016-3
  35. Rydén M., Lyngfelt A. (2006). Using steam reforming to produce hydrogen with carbon dioxide capture by chemical-looping combustion. International Journal of Hydrogen Energy, 31, 10: 1271-83. DOI: 10.1016/j.ijhydene.2005.12.003
  36. Saftic B., Kolenkovic I., Vulin D. (2008). Putting carbon dioxide back in the subsurface-possibilities in Croatia, Energy and Environment, Croatian Solar Energy Association, 79-88.
  37. Scott V. (2013). What can we expect from Europe’s carbon capture and storage demonstrations? Energy Policy, 54: 66-71. DOI: 10.1016/j.enpol.2012.11.026
  38. Siegel J., Shim, J. (1997). Schaum’s Quick Guide to Business Formulas. New York, NY: McGraw-Hill.
  39. Thiruvenkatachari R., Su S., An H., Yu XX. (2009). Post combustion CO2 capture by carbon fibre monolithic adsorbents. Progress in Energy and Combustion Science, 35, 5: 438-55. DOI: 10.1016/j.pecs.2009.05.003
  40. Treaty establishing the Energy Community, 25 October 2005.
  41. Vailati R. (2009). Electricity transmission in the energy community of South East Europe. Utilities Policy, 17: 34-42. DOI: 10.1016/j.jup.2008.03.005
  42. Van den Broek M., Hoefnagels R., Rubin E.S., Turkenburg W., Faaij A. (2009). Effects of technological learning on future cost and performance of power plants with CO2 capture. Progress in Energy and Combustion Science, 35: 457-480. DOI: 10.1016/j.pecs.2009.05.002
  43. World Energy Council (2007). Deciding the future: energy policy scenarios to 2050. London: World Energy Council .
  44. ZEP (2011). The Costs of CO2 Capture, Transport and Storage. ZEP report.

Alfredo Viskovic, Vladimir Valentic, Vladimir Franki, The impac t of carbon prices on CCS investment in South East Europe in "ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT" 3/2013, pp 91-120, DOI: 10.3280/EFE2013-003004