1. Electricity demand was higher than expected
|
|
- Elizabeth Banks
- 5 years ago
- Views:
Transcription
1 South Africa s Power Crisis: understanding its root causes and assessing efforts to restore supply security Centre for Development and Enterprise Round Table 5 May 2008 Prof Anton Eberhard Management Program in Infrastructure Reform and Regulation Electricity blackouts: dispelling bogus arguments 1. Electricity demand was higher than expected GWh Eskom long term sales forecast track record Actual High 4% Low 2%
2 Eskom long term sales forecast track record GWh Actual High 4% Low 2% More bogus/misleading arguments 1. Electricity demand was higher than expected 2. Planning was inadequate 3. Regulated prices prevented Eskom from investing in new plant 4. Rain and wet coal 5. Insufficient coal: poor roads, growth in exports,. 6. Private sector not interested in investing 7. Consumers not cooperating in saving electricity GWh Eskom long term sales forecast track record Actual High 4% Low 2%
3 Electricity blackouts: ultimate causes (1) Insufficient generating capacity Eskom s investment programme 4 years behind Moratorium from New build programme has slipped DME contracting of IPPs unsuccessful Reserve margin 31% Reserve margin 15% Reserve margin 7% Megawatts Ideally need 20% reserve margin to cater for planned maintenance, unplanned Peak demand outages and Supply system capacity stability 3
4 Electricity blackouts: ultimate causes (2) Eskom unable to keep its existing generators working adequately 90 : 7 : 3 plant availability : planned maintenance : unplanned outages 86 : 9 : 5 76 : 10 : 14 Negligence in coal contracting Equipment and maintenance failures Example: 28 January 2008 MW Eskom capacity+imports Operating reserves Planned maintenance Breakdowns (e.g boiler tube ruptures, etc) Reduction in capacity (e.g. wet or insuff coal) Total capacity available for supply Expected demand Consequence: massive load-shedding diamond, gold and platinum mines shut down What are root causes? Systemic management and governance failures? Who has / will take the rap? 4
5 Electricity blackouts: ultimate causes (3) Focus is currently on generation but security of supply also threatened by unreliable networks Once again need to understand ultimate causes Uncertainty because of lack of progress in EDI restructuring has led to underinvestment in human and physical capital The next power crisis: distribution fails Government & Eskom s response plan 1. Restore coal stockpiles 2. Improve generation plant availability 3. Eskom s investment programme 4. Co-gen 5. New IPP window 6. Energy efficiency and DSM Load Supported curtailment by or electricity pre-emptive price load-shedding increases when all else fails! 5
6 Ensuring that Eskom s kit operates satisfactorily New executive manager - greater urgency Coal stocks being rebuilt at massive cost: main reason for request for 53% real price increase But stockpiles currently still uncomfortably low (5-12 days) with resultant vulnerability to wet and poor quality supply RWE audit of plant maintenance Contracting back of experienced staff But many key posts remain unfilled Have systemic management, organisational, contracting and maintenance failures been addressed adequately? Camden Grootvlei Komati OCGTs Ingula Medupi Bravo MW Wind Cogen Energy efficiency IPPs? X 6
7 Reserve margin % Target With imports Reserve margins will fall dangerously if no IPPs, cogen or savings Eskom Year Eskom s new build programme has slipped Eskom s project development & contracting capacity? R350 billion?!"#""$%% With imports With 3000 MW cogen plus 3500 MW IPPs Reserve margin % Target 5 0 Eskom MW energy efficiency Vulnerable period Eskom investing as fast as it can, but now also needs imports, IPPs, Co-Gen and DSM 7
8 IPP and Cogen prospects Failure of DME to procure IPP peaker is major setback 1000MW less capacity available in vulnerable period through to 2011 Government/Eskom s distrust & belief in private sector further prejudiced Yet, striking fact: 40 IPPs throughout Africa in far more challenging investment climates Failure is not simply a reflection of market structure and dominance of Eskom We have to reflect on SA s inexperience and weaknesses in contracting public-private partnerships Same issue now in contracting Co-gen Interminable discussions/negotiations on avoided cost and fair, transparent power purchase agreements Simplify contracts, create certainty, fast-track investments Disclose avoided cost and hurdle prices Power conservation prospects Huge potential 8
9 South African energy intensity compared Germany Mexico United States Australia Brazil Poland Malaysia India Thailand China South Africa Russia kwh/gdp (constant US$) South African electricity intensity compared South Africa kwh/gdp (constant China Australia India Brazil Japan USA
10 SA electricity sales growth vs economic growth GDP Electricity Poly. (Electricity) Poly. (GDP) 6 Percent Power conservation prospects Huge potential But mixed signals and poor execution Load curtailment is disproportionately borne by mining and large industrials Load-shedding is least economically efficient mechanism for dealing with power scarcities Will market-based power rationing scheme be introduced? Will price increases induce necessary savings? Price elasticity of - 0.2? 10% price increase results in 2% demand reduction 30% price increase results in 6% demand reduction 10
11 $ # Real 3500 price level (right axis) 3000 Prices will rise to fund new investment MW added to system Capacity added each year (left axis) ` Need to develop consensus between stakeholders on desirable price path to fund Eskom investment, induce required demand response & minimise inflation impacts 21 % & # # Security of Supply Security of supply standard Integrated planning Investment allocation & approvals Contracting of IPPs & Cogen Central purchasing arrangements Distribution restructuring Hybrid electricity markets need policy, planning, regulatory and institutional support Regulatory & market reform Electricity pricing & funding Prices & demand Eskom funding (sell some power stations) Absence of felt leadership Need for greater alignment, co-ordination and purposeful management of crisis 11
12 Cost of power crisis is higher than generally acknowledged Lost output, reduced economic growth, less employment and income, reduced exports, increased fuel imports, increased pressure on balance of payments & current account deficit, currency depreciation, imported inflation, higher interest rates, reduced economic growth Cost of unserved energy (value of lost load) is MUCH higher than marginal cost of new generation Resort to back-up or own-generation hugely costly in duplicate investment and higher operating costs Power crisis will spawn liquid fuels crisis: insufficient local refining or port or pipeline capacity ' ( ()*++, 1. Restoring an acceptable reserve margin Price increases plus an effective market-based energy efficiency programme to reduce demand Timely & sufficient contracting of Cogen IPPs contracted effectively Eskom investments on time 2. Keeping Eskom s kit running More robust coal contracting 86% availability 9% planned maintenance 5% unplanned outages 3. Maintaining reliable networks Adequate investment in human & physical capital Certainty in distribution restructuring Need to fix systemic failures that led to crisis Peer review and support from private sector But also need independent review & policy reform Evidence-based inquiry will develop common understanding of challenges and provide basis for sound policy proposals and action plans 12
13 The Management Programme in Infrastructure Reform & Regulation (MIR) aims to deepen knowledge and capacity to manage the reform and regulation of the electricity, gas, telecommunications, water and transport industries in support of sustainable development. Prof Anton Eberhard University of Cape Town 13
SA economic review Kevin Lings. August 2018
SA economic review Kevin Lings August 2018 South Africa real GDP growth year-on-year %y/y 8 7 6 5 Ave 4.3% 4 Ave 2.5% 3 2 Ave 0.9% 1 0-1 -2-3 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 2
More informationThe Construction Conference 2005
The Construction Conference 2005 The Construction Conference 2005 A vision for the construction industry. How can we make the charter work for us? Presented by: Carl Grim, Chief Executive, Aveng Limited
More informationThe global economic climate and impact on SA Mining during a downward phase in the commodity cycle.
The global economic climate and impact on SA Mining during a downward phase in the commodity cycle. World Economy Real Long term commodity and employment data. Vanity sanity and reality of mining and investment
More information2017 Major Projects Pipeline Report Adrian Hart, Senior Manager Infrastructure & Mining
2017 Major Projects Pipeline Report Adrian Hart, Senior Manager Infrastructure & Mining Major Projects Pipeline Report - 2017 Presentation Outline Key findings of the 2017 Pipeline Report The outlook for
More informationThe Economic Outlook. Economic Policy Division
The Economic Outlook Economic Policy Division Glass Half Full Six years of steady growth Real GDP Outlook Percent Change, Annual Rate 10 5 0-5 -10 1980 1985 1990 1995 2000 2005 2010 2015 Glass Half Full
More informationTrade Growth - Fundamental Driver of Port Operations and Development Strategies
Trade Growth - Fundamental Driver of Port Operations and Development Strategies Marine Terminal Management Training Program October 15, 2007 Long Beach, CA Paul Bingham Global Insight, Inc. 1 Agenda Economic
More informationTrade and Economic Trends
Trade and Economic Trends Marine Terminal Management Training Program Paul Bingham Managing Director, Global Commerce & Transportation IHS Global Insight Long Beach, CA September 21, 2009 The Global Recession
More informationMexican Light Vehicle Outlook
Mexican Light Vehicle Outlook Presented to: LXXXVI Junta Automotriz 9 July 2008 Presented by: Guido Vildozo Senior Market Analyst, Latin America Copyright 2008 Global Insight, Inc. 1 Global Light Vehicle
More informationSchool of international and Public Affairs. Columbia University Manuel Pinho
School of international and Public Affairs Columbia University Manuel Pinho SPHERE WITH CORE What matters to China matters to the world Do not give lessons to China: Europe and the US The challenges: Growth
More informationSUSTAINABILITY CRITERIA FOR FISHERIES SUBSIDIES: THE LATIN AMERICAN CONTEXT
SUSTAINABILITY CRITERIA FOR FISHERIES SUBSIDIES: THE LATIN AMERICAN CONTEXT 29-30 July 2009, Guayaquil, Ecuador The Sunken Billions Kieran Kelleher Fisheries Team Leader The World Bank The Economic Justification
More informationDr Neil J. Bristow. 8 th WSD Steel Success Strategies European Steel Conference London, 30 th November H & W Worldwide Consulting
Dr Neil J. Bristow 8 th WSD Steel Success Strategies European Steel Conference London, 30 th November 2010 neil.j.bristow@hwworldwideconsult.com +61240286268 H & W Worldwide Consulting 1. Brief comparison
More informationPower sector investment trends in Sub-Saharan Africa
Power sector investment trends in Sub-Saharan Africa Prof Anton Eberhard Graduate School of Business University of Cape Town @AntonEberhard www.gsb.uct.a.za/mir Power imbalances within Africa Electricity
More informationGlobal Mineral Commodity Prices: Perspectives and Trends
17 th Brazilian Mining Congress and EXPOSIBRAM 2017 Global Mineral Commodity Prices: Perspectives and Trends When Will the Market Hit Deficit: Risks, Opportunities, China s Changing Consumption Pattern,
More informationMarket Report Series Oil 2017
Market Report Series Oil 2017 Neil Atkinson, Head Oil Industry & Markets Division, IEA International Institute for Strategic Studies, Bahrain, 17 September 2017 Oil demand continues to grow but at a slower
More informationThe Changing Global Economy Impacts on Seaports and Trade Dr. Walter Kemmsies
The Changing Global Economy Impacts on Seaports and Trade Dr. Walter Kemmsies Chief Economist, PAGI Group, JLL (Port, Airport & Global Infrastructure) Agenda Where are we in the cycle? What are the barriers
More informationTechno-economic assessment of potential CCS deployment in the Southern African region
Techno-economic assessment of potential CCS deployment in the Southern African region, ERC in conjunction with World Bank Dubrovnik, Croatia, 4th May 2011 Techno-economic assessment of potential CCS deployment
More informationEnergy Outlook Global and Domestic Trends and Challenges. Dr. John Caldwell Director of Economics, EEI 1
Energy Outlook Global and Domestic Trends and Challenges Dr. John Caldwell Director of Economics, EEI 1 World GDP Growth Other Economies are Outpacing the U.S. Other, 7996.16, 11% Africa, 3962.51, 6% Latin
More informationMajor Issues and Trends Facing the Port and Marine Transportation Industry
Major Issues and Trends Facing the Port and Marine Transportation Industry Presented to: AAPA Marine Terminal Management Training Program April 24, 2006 Charleston Riverview Hotel Charleston, SC - USA
More information18 th May Global Steel Industry Trends: Is the perception the reality?
18 th May 2004 Global Steel Industry Trends: Is the perception the reality? Investors have perceived the steel industry negatively Poor returns over the long term, high volatility, relatively small size
More informationBuilding on Kyoto: Towards a Realistic Global Climate Change Agreement and What Australia Should Do
Building on Kyoto: Towards a Realistic Global Climate Change Agreement and What Australia Should Do Warwick J. McKibbin & Peter J. Wilcoxen ANU Public Lecture, 3 July 2008 Overview Climate Science Lessons
More informationGrasshoppers, Ants and Locusts: the future of the world economy
Ralph Miliband Series on the Restructuring of World Power Grasshoppers, Ants and Locusts: the future of the world economy Martin Wolf Associate editor and chief economics commentator, Financial Times Professor
More informationRetrenchment or Stagnation: Lessons from Japan s Lost Decades. Andrew Smithers. UK-Japan 21 st Century Group Conference 3 rd May, 2013
Retrenchment or Stagnation: Lessons from Japan s Lost Decades. Andrew Smithers UK-Japan 21 st Century Group Conference 3 rd May, 2013 Slide 1. The Conventional Wisdom. Japan has suffered from two lost
More informationFinancial Stability Implications of Changing Global Finance: Policy Panel Global Finance in Transition
Financial Stability Implications of Changing Global Finance: Policy Panel Global Finance in Transition May 7 and 8, 2013 İstanbul, Turkey Outline 1 The Financial System 2 Weak Growth 3 4 5 Unprecedented
More informationSeven Lean Years Explaining Persistent Global Economic Weakness
Seven Lean Years Explaining Persistent Global Economic Weakness 9 June 2015 Bank of Canada and European Central Bank Conference Tim Lane Deputy Governor Bank of Canada The global economy remains weak and
More informationEconomic benefits of healthy fisheries.
Economic benefits of healthy fisheries Chris.Williams@neweconomics.org www.neweconomics.org Working towards an economy which delivers high well-being and social justice within fair ecological limits Why
More informationSession 4. Growth. The World Economy Share of Global GDP Year 2011 (PPP)
Session 4. Growth Stylized Facts on Standards of Living across Countries Characterizing Growth over 1 Years: The US Economy Growth Dynamics of the G7 Countries and the OECD Economies Characterizing Growth
More informationThe Economic Outlook. Economic Policy Division
The Economic Outlook Economic Policy Division Glass Half Full Six plus years of moderate growth Real GDP Outlook Percent Change, Annual Rate 10 5 0-5 -10 1980 1985 1990 1995 2000 2005 2010 2015 Glass Half
More informationChallenges, Prospects & Opportunities. Seychelles Fisheries Sector
Challenges, Prospects & Opportunities Seychelles Fisheries Sector Geographical Location General information Total population: 94,000 people Total territory: 1,374,000 km 2 Land/Ocean territory:459 km 2
More informationBy making use of SAFRIM (South African Inter-Industry Macro-Economic Model) By Jeaunes Viljoen, Conningarth Economists, 1
By making use of SAFRIM (South African Inter-Industry Macro-Economic Model) By Jeaunes Viljoen, Conningarth Economists, South Africa 10/13/2011 1 1960: The economy experienced high growth rates mining
More informationMarket Report Series Oil SIEW 2017 launch - 28 March 2017
Market Report Series Oil 2017 SIEW 2017 launch - 28 March 2017 Oil demand continues to grow but at a slower pace 2.0 Global oil demand growth 2014-2022 1.5 1.0 0.5 0.0 2014 2015 2016 2017 2018 2019 2020
More informationCar Production. Brazil Mexico. Production in thousands. Source: AMIA Asociacion Mexicana de la industria automotriz.
Car Production Production in thousands 4000 3000 2000 1000 Brazil Mexico 0 2013 2014 2015 Source: AMIA Asociacion Mexicana de la industria automotriz. Mexico s Expanding Middle Class Percent of population
More informationGrowth Strategies and Dynamics in Developing Countries. Michael Spence Hamilton Project/CGD Forum Washington D.C. April 14, 2008
Growth Strategies and Dynamics in Developing Countries Michael Spence Hamilton Project/CGD Forum Washington D.C. April 14, 2008 1 The Focus The subject is sustained high inclusive growth and the policies,
More informationForecast evaluation report Robert Chote Chairman
Forecast evaluation report 2017 Robert Chote Chairman Background to the FER The FER is an annual report looking at the performance of past EFO forecasts against the latest outturn data Rationale Accountability
More information2017 PNG Economic Survey. Rohan Fox (ANU), Stephen Howes (ANU), Nelson Atip Nema (UPNG), Marcel Schröder (UPNG and ANU)
2017 PNG Economic Survey Rohan Fox (ANU), Stephen Howes (ANU), Nelson Atip Nema (UPNG), Marcel Schröder (UPNG and ANU) Introduction New government, new plan Short-term challenges: recession, falling government
More informationFrance : Economic developments and reforms, where are we heading?
France : Economic developments and reforms, where are we heading? The Economic Club of New York : 18 April 2018 François VILLEROY de GALHAU, Governor of the Banque de France 1 WHERE ARE WE STARTING FROM?
More informationGlobal Construction Outlook: Laura Hanlon Product Manager, Global Construction Outlook May 21, 2009
Global Construction Outlook: Short-term term Pain, Long-term Gain Laura Hanlon Product Manager, Global Construction Outlook May 21, 2009 What This Means for You The world is set to be hit this year with
More informationROLE OF COPPER IN CHILEAN ECONOMY
ROLE OF COPPER IN CHILEAN ECONOMY Patricio Meller, Bernardo Lara & Gonzalo Valdés January 2010 1 Basic Data: Chile 2009 Population (millions) 17 Yn/cap (US$ PPP) 14,299 GDP (billions US$) 243 Territory
More informationOil Prices: Past, Present, & Future
Oil Prices: Past, Present, & Future Gulf Research Center November 23, 2005 A. F. Alhajji*, PhD Gulf Energy Program - Moderator Gulf Research Center Dubai, UAE *A. F. Alhajji, PhD is also George Patten
More informationIndiana Electricity Projections: The 2018 Forecast Update
Indiana Electricity Projections: The 2018 Forecast Update State Utility Forecasting Group The Energy Center at Discovery Park Purdue University West Lafayette, Indiana October 2018 Summary This report
More informationUSJI Event Is the TPP a Source of Cooperation or Conflict?: Japan s Perspective
USJI Event Is the TPP a Source of Cooperation or Conflict?: Japan s Perspective May 17, 2012 Shujiro URATA Waseda University 1.TPP: Trans Pacific Partnership Agreement Origin: P4 (Chile, New Zealand, Singapore,
More informationChina s energy insecurity: strategies and future prospects
China s energy insecurity: strategies and future prospects Philip Andrews-Speed Centre for Energy, Petroleum and Mineral Law and Policy, University of Dundee Andrews-Speed 1 Energy supply & demand 1,800.00
More informationPaul Bingham Managing Director, Global Trade and Transportation February 18, 2009
Economic Outlook and Ports Paul Bingham Managing Director, Global Trade and Transportation February 18, 2009 The Outlook for Trade Depends on Goods Demand Integrated international supply-chains offer efficiencies
More informationEconomic & Financial Market Outlook
Economic & Financial Market Outlook BC Pension Forum March 1, 2013 Chris Lawless, Chief Economist Overview Global forces Recent economic performance ~ US, Europe, Japan, China ~ Other emerging markets
More informationChina from a Macroeconomist s Perspective. Kim J. Ruhl
China from a Macroeconomist s Perspective Kim J. Ruhl NYU Stern China Initiative Research Luncheon February 22, 2011 China as number 1? Gross Domestic Product: 2010 (bil. USD, at exchange rates) 1. United
More informationCurrent situation and prospects for copper, nickel, lead and zinc
Global Commodities Forum Palais des Nations, Geneva 22-23 March 2010 Current situation and prospects for copper, nickel, lead and zinc by Mr. Don Smale, Secretary General, International Lead and Zinc Study
More informationThe World and U.S. Economy and San Pedro Bay Container Trade Outlook Forecast Review
The World and U.S. Economy and San Pedro Bay Container Trade Outlook Forecast Review Michael Keenan Harbor Planning and Economic Analyst Port of Los Angeles October 5, 2009 Review of 2007 Container Trade
More informationComparison of urban energy use and carbon emission in Tokyo, Beijing, Seoul and Shanghai
International Workshop on Urban Energy and Carbon Modeling, February 5-6, 28, AIT Centre, Asian Institute of Technology, Pathumthani, Thailand Comparison of urban energy use and carbon emission in Tokyo,
More informationGlobal growth forecasts Key countries/regions,
Global growth forecasts Key countries/regions, 2014-2018 Percent 7 6 5 4 3 2 1 0 Developing Asia Sub-Saharan Africa Middle East and North Africa Latin America and the Caribbean United States Euro area
More informationShifts in Global Trade Patterns
Shifts in Global Trade Patterns Presented to: AAPA Shifting International Trade Routes and Planning for the Panama Canal Expansion January 23, 2008 Port of Tampa Presented by: Robert West Managing Director
More informationSubstitution of Energy and Capital an Its Uncertainty for China
Substitution of Energy and Capital an Its Uncertainty for China Zhaoning ZHENG Research Center of Contemporary Management Global Climate Change Institute School of Public policy and management Tsinghua
More informationThe Global Economy: Sustaining Momentum
The Global Economy: Sustaining Momentum David J. Stockton Senior Fellow Peterson Institute for International Economics Chief Economist Monetary Policy Analytics October 5, 2017 What s Driving the Global
More informationAlaska s Natural Resource Commodities: A 10-Year Outlook
Alaska Resources Development Council November 14-15, 2018 Alaska s Natural Resource Commodities: A 10-Year Outlook David R. Hammond, Ph.D. Principal Mineral Economist Hammond International Group Commodities
More informationIndia: Can the Tiger Economy Continue to Run?
India: Can the Tiger Economy Continue to Run? India s GDP is on the rise US$ trillions Nominal GDP (left axis) GDP growth (right axis) 3.0 2.5 2.0 1.5 1.0 0.5 0.0 1990 1992 1994 1996 1998 2000 2002 2004
More informationOpening address for dinner-debate
Opening address for dinner-debate Mohammed Barkindo Acting for the OPEC Secretary General European Parliament Strasbourg, France 4 July 2006 1 Outline Importance of EU-OPEC Energy Dialogue Current oil
More informationEast Asian Regionalism
East Asian Regionalism Min Shu Waseda University 2018/1/15 1 Outline of the lecture Regional cooperation and regionalism: an overview Economic regionalization and regionalism in East Asia Understanding
More informationCan Manufacturing Still be a Driver of
Can Manufacturing Still be a Driver of Inclusive Growth? Robert Z Lawrence Albert L Williams Professor of Trade and Investment Harvard Kennedy School Senior Fellow, MasterCard Center for Inclusive Growth
More informationCommunity Update. Life in the Heartland Community Information Evening. Pembina Pipeline Corporation
Pembina Pipeline Corporation Community Update Life in the Heartland Community Information Evening Wayne Carey Manager, Field Projects, Redwater Facility October 23, 2017 Forward-Looking Statements This
More informationChinese-US Economies in Comparison and Interaction: Now and Future as China Economist Surveys
Chinese-US Economies in Comparison and Interaction: Now and Future as China Economist Surveys Key outcome of the 19 th CPC National Congress: Chinese society's principal contradiction has changed 40 yeas
More informationINDIANA UTILITY DEMAND & RATES FORECAST
INDIANA UTILITY DEMAND & RATES FORECAST Presented to: Solar Energy Applications for Agriculture Workshop Rochester, IN Presented by: Douglas Gotham November 12, 2014 1 Highlights 2013 forecast growth is
More informationMarket Insights. March 29, 2019
March 29, 2019 Economic Overview 2 Global & Regional Growth Forecasts IMF GDP Forecasts (% change YoY) 2010 2011 2012 2013 2014 2015 2016 2017 2018 Advanced Economies 1.2% 1.4% 2.1% 2.3% 1.7% 2.4% 2.3%
More informationU.S. Overview. Gathering Steam? Tuesday, October 1, 2013
U.S. Overview Gathering Steam? Tuesday, October 1, 2013 Uneven global economic recovery Annual real GDP growth projections (%) Projections 2013 2014 World 3.1 3.1 3.8 United States 2.2 1.7 2.7 Euro Area
More informationMarket Insights. June 30, 2018
June 30, 2018 Economic Overview 2 Global & Regional Growth Forecasts IMF GDP Forecasts (% change YoY) 2010 2011 2012 2013 2014 2015 2016 2017 2018 Advanced Economies 1.7% 1.2% 1.3% 2.1% 2.3% 1.7% 2.3%
More informationMarket Update. Randy Tinseth Vice President, Marketing Boeing Commercial Airplanes. Copyright 2016 Boeing. All rights reserved.
Market Update The statements contained herein are based on good faith assumptions are to be used for general information purposes only. These statements do not constitute an offer, promise, warranty or
More informationThe data inputs and assumptions underlying this Reference Case are described in the Assumptions Book.
MEMORANDUM To: From: Caroline Garber, Chief, Environmental Studies Section, WI DNR Kris Krause, Co-Chair, GWTF Technical Advisory Committee George Edgar, Co-Chair, GWTF Technical Advisory Committee Glen
More informationGlobal Economic Outlook
Global Economic Outlook Mark A. Wynne Vice President & Associate Director of Research Director, Globalization & Monetary Policy Institute Federal Reserve Bank of Dallas Presentation to Vistas Conference
More informationAvoiding the Blind Alley China s Economic Overhaul and its Global Implications
Avoiding the Blind Alley China s Economic Overhaul and its Global Implications Daniel Rosen Partner dhrosen@rhg.com NYU Stern China Research Luncheon New York December 1, 2014 10 East 40 th Street, Suite
More informationChallenges for the International Trade System Tokyo, Japan, May 28, Shang-Jin Wei Professor, Columbia University
Challenges for the International Trade System Tokyo, Japan, May 28, 2018 Shang-Jin Wei Professor, Columbia University Useful to think of Short-term challenges Medium-term challenges Long-term challenges
More informationDiscussion of: The Rise, the Fall, and the Resurrection of Iceland by Benediksdottir, Eggertsson, Þorarinsson. Jón Steinsson Columbia University
Discussion of: The Rise, the Fall, and the Resurrection of Iceland by Benediksdottir, Eggertsson, Þorarinsson Jón Steinsson Columbia University Policy Failure 1: Banking Supervision Paper covers this very
More informationProducer - Consumer Dialogue - Rising to New Challenges -
Producer - Consumer Dialogue - Rising to New Challenges - Klaus Rehaag Head, Oil Industry & Markets Division Editor, Oil Market Report International Energy Agency Paris, France klaus.rehaag@iea.org Asia
More informationThe Future of the World s International Education
The Future of the World s International Education long-term driving forces or trends that influence almost everything at all levels of societal development. They have great importance now, and we are relatively
More informationEnergy Trends and Emissions in the Former Soviet Union
Energy Trends and Emissions in the Former Soviet Union GTSP Annual Meeting May 29, 2008 Presented by M. Evans Looking back Overview Economic and demographic trends Energy trends and energy intensity Toward
More informationSteel: A Buyer s Market for the Worst of Reasons. John Anton Director, IHS Global Insight Steel Service August 2009
Steel: A Buyer s Market for the Worst of Reasons John Anton Director, IHS Global Insight Steel Service August 2009 The U.S. Recession Is Bottoming Out This recession has been the most severe of the postwar
More informationThe Mystery of Growing Foreign Exchange Reserve
The Mystery of Growing Foreign Exchange Reserve January - March 2007 Total increase = $136 Billion Trade surplus 34% To be explained 54% Net FDI inflow 12% Source: PBoC Renminbi Pressure Indicator Initial
More informationThe Revived Bretton Woods System: Does It Explain Developments in Non-China Developing Asia?
The Revived Bretton Woods System: Does It Explain Developments in Non-China Developing Asia? Presentation for conference on The Revived Bretton Woods System: A New Paradigm for Asian Development? Federal
More informationThe Rise of China and Breaking out the Middle- Income Trap in Latin America and the Caribbean countries: A New Structural Economics Approach
The Rise of China and Breaking out the Middle- Income Trap in Latin America and the Caribbean countries: A New Structural Economics Approach Justin Yifu Lin Senior Vice President and Chief Economist The
More informationThe transition to sustainable energy
ATSE Symposium The transition to sustainable energy Peter Littlewood 8 Nov 2016 The changing world economy Index 180 170 160 150 140 130 120 110 100 90 Economies less energy intensive Electricity less
More informationLawrence J. Lau 刘遵义. CSIS Forum Washington, D.C., 22nd May 2013
U.S.-China Economic Relations in the Next Ten Years: Towards Deeper Engagement and Mutual Benefit Lawrence J. Lau 刘遵义 Ralph and Claire Landau Professor of Economics, The Chinese Univ. of Hong Kong and
More informationUSING ENERGY EFFICIENCY IN RESOURCE PLANS TO ARGUE FOR INCREASED ENERGY EFFICIENCY
USING ENERGY EFFICIENCY IN RESOURCE PLANS TO ARGUE FOR INCREASED ENERGY EFFICIENCY Ellen Zuckerman & Jeff Schlegel Southwest Energy Efficiency Project (SWEEP) ACEEE EE as a Resource Conference, September
More informationCost and Benefit Analysis of Possible Philippine Participation in the Trans-Pacific Partnership Agreement
Cost and Benefit Analysis of Possible Philippine Participation in the Trans-Pacific Partnership Agreement (available at: http://www.gii.ncr.vt.edu/docs/gii_wp2014-1.pdf) Caesar B. Cororaton and David Orden
More informationRISI LATIN AMERICAN CONFERENCE. (São Paulo, 16 August 2016) The Latin American Economy: Some Successes, Many Disappointments
RISI LATIN AMERICAN CONFERENCE (São Paulo, 16 August 2016) The Latin American Economy: Some Successes, Many Disappointments Andrea Boltho Magdalen College University of Oxford and Oxford Economics GDP
More informationIndiana Electricity Projections and Renewable Energy
Indiana Electricity Projections and Renewable Energy Presented by: Douglas J. Gotham, Director State Utility Forecasting Group Purdue University Presented to: 2012 Energy & Water Education Conference Indianapolis,
More informationBrazil Baseline and Mitigation Scenarios
Brazil Baseline and Mitigation Scenarios The 12 th AIM International Workshop William Wills ww@ufrj.br Tsukuba, Japan 19-21, February 2007 CCAP (Center for Clean Air Policy): Dialogue on Future International
More informationFAPRI 2006 Preliminary Baseline December 15-16, 2005
FAPRI 26 Preliminary Baseline December 15-16, 25 INTERNATIONAL SUGAR Amani Elobeid (515)-294-6175 amani@iastate.edu FAPRI Food and Agricultural Policy Research Institute Center for Agricultural and Rural
More information2013 Special Reliability Assessment: Accommodating an Increased Dependence on Natural Gas for Electric Power
2013 Special Reliability Assessment: Accommodating an Increased Dependence on Natural Gas for Electric Power Special Reliability Assessments Deeper focus on issues identified in Long-Term Reliability Assessment
More informationRISI EUROPEAN CONFERENCE. (Barcelona, 6 March 2018) The European Economy Things look good just now. Can this last?
RISI EUROPEAN CONFERENCE (Barcelona, 6 March 2018) The European Economy Things look good just now. Can this last? Andrea Boltho Magdalen College University of Oxford and Oxford Economics CONCLUSIONS OF
More informationDEPARTMENT OF TRANSPORT
DEPARTMENT OF TRANSPORT UPDATE ON THE IMPLEMENTATION OF SHOVA KALULA BICYCLE PROJECT SELECT COMMITTEE ON PUBLIC SERVICES 14 SEPTEMBER 2010 Outline of the presentation Objectives of the project Legislative
More informationMining & Infrastructure in the Kitikmeot Making the Most of Opportunities
Mining & Infrastructure in the Kitikmeot Making the Most of Opportunities Tom Hoefer, Kitikmeot Trade Show Cambridge Bay, February 15, 2011 Kitikmeot opportunities what s possible 8 mining projects in
More informationUS imports from emerging economies have grown rapidly
US imports from emerging economies have grown rapidly Ratio to GDP (current dollars) 0.07 US merchandise imports, 1978 2008 0.06 0.05 0.04 0.03 0.02 Industrial Non-OPEC other 0.01 0 OPEC = Organization
More informationMexico Stands to Benefit From. With Relative Ease. Jesus Cañas Federal Reserve Bank of Dallas Laredo, Texas May 2014
Mexico Stands to Benefit From With Relative Ease Jesus Cañas Federal Reserve Bank of Dallas Laredo, Texas May 2014 Outline 2013 worst than expected Economy back on growth track in 2014 Why we care about
More informationMarket Report Series. Spanish Energy Club, Madrid, 3 May 2018
Market Report Series Oil 2018 Spanish Energy Club, Madrid, 3 May 2018 Neil Atkinson, Head of Oil Industry and Markets Division Toril Bosoni, Senior Oil Market Analyst, Oil Industry and Markets Division
More informationsector: recent developments VÍTOR CONSTÂNCIO
The economy and the banking sector: recent developments VÍTOR CONSTÂNCIO January 2006 Recent performance of the economy and prospects Factors behind the period of slow growth Challenges to the Banking
More informationBob Costello Chief Economist & Vice President American Trucking Associations. Economic & Motor Carrier Industry Update.
Bob Costello Chief Economist & Vice President American Trucking Associations Economic & Motor Carrier Industry Update February 26, 2013 The Worst Recession Since the Great Depression 0% Loss from Peak
More informationIran Unrivalled Market in the Middle East
ITALY-IRAN COOPERATION Through ICC-ISCE Iran Unrivalled Market in the Middle East an Overview Table of Contents An Introduction to ISCE Iran s Economy at a Glance Construction Market Table of Contents
More informationIndian Economy in Graphs. Arvind Panagariya Columbia University
Indian Economy in Graphs Growth in GDP and Per-capita GDP 9 8.3 8 7 6.7 6 5.8 5 4 3 2 4.1 2.2 3.2 4.6 2.2 3.7 1 0.8 0 Phase I (1951-64) Phase II (1965-81) Phase III (1981-88) Phase IV (1988-03) Phase V
More informationMaximizing Tourism Marketing Investments A Canadian Perspective
Maximizing Tourism Marketing Investments A Canadian Perspective Understanding the potential of markets Economics: GDP; Inflation; Unemployment; Employment; Disposable Income; Private Consumption; Consumer
More informationThe US Economic Outlook
IHS ECONOMICS US Outlook The US Economic Outlook November 2014 ihs.com Rafael Amiel, Director latin America Economics +1 215 789 7405, rafael.amiel.ihs.com 2014 IHS The US economy is gaining momentum Growth
More informationPercent
Outline Outline Growth is picking up Percent 6 Advanced economies Emerging and developing economies 5 4 4.9 5.0 4.3 4.4 4.6 4.7 4.7 3.7 3.7 3 2 2.0 2.3 1.6 2.2 2.3 1.9 1.7 1 1.1 1.3 0 2012 2013 2014 2015
More informationProgress with the Road Investment Strategy
Report by the Comptroller and Auditor General Department for Transport and Highways England Progress with the Road Investment Strategy HC 1056 SESSION 2016-17 22 MARCH 2017 4 Key facts Progress with the
More informationChanges in Financial Structure of Coal Companies
Changes in Financial Structure of Coal Companies Prepared for: 30th Professional Engineers in Mining Seminar Marriott Griffin Gate Resort, Lexington, Kentucky September 15, 2017 By: John E. Feddock, P.E.
More informationCapital Beltway HOT Lanes - Frequently Asked Questions
Capital Beltway HOT Lanes - Frequently Asked Questions December 20, 2007 1. What is the cost of the project? The fixed-price design-build cost is approximately $1.4 billion. 2. Why have the project costs
More information