How Dependent Are European Power Systems and Economies on Natural Gas?—A Macroeconomic Optimization for Security of Electricity Supply
How dependent are European power systems and economies on natural gas? To answer this pressing question, we coupled a simulation model for assessing security of electricity supply and an economic optimization model. With this, we were able to analyze different reduction scenarios of the amount of ga...
| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-11-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/15/23/8991 |
| _version_ | 1797463263534907392 |
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| author | Christina Kockel Lars Nolting Kevin Pacco Carlo Schmitt Albert Moser Aaron Praktiknjo |
| author_facet | Christina Kockel Lars Nolting Kevin Pacco Carlo Schmitt Albert Moser Aaron Praktiknjo |
| author_sort | Christina Kockel |
| collection | DOAJ |
| description | How dependent are European power systems and economies on natural gas? To answer this pressing question, we coupled a simulation model for assessing security of electricity supply and an economic optimization model. With this, we were able to analyze different reduction scenarios of the amount of gas utilized in the power sector. Our results show that reducing the amount of natural gas in the European power sector by up to 30% has a relatively moderate impact on the security of electricity supply. Restrictions of 40% or more result in substantially higher reductions in electricity demand shortfall and are associated with economic costs of more than EUR 77 billion. Furthermore, we demonstrate that a close coordination of gas distribution on a European level would be instrumental in mitigating negative economic consequences. Finally, it can be deduced that a coordinated delay of planned power plant shutdowns could effectively compensate for reduced gas volumes in the electricity sector. |
| first_indexed | 2024-03-09T17:49:12Z |
| format | Article |
| id | doaj.art-3926c5c68cdf4a4f980e8c12e1164096 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-09T17:49:12Z |
| publishDate | 2022-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-3926c5c68cdf4a4f980e8c12e11640962023-11-24T10:53:32ZengMDPI AGEnergies1996-10732022-11-011523899110.3390/en15238991How Dependent Are European Power Systems and Economies on Natural Gas?—A Macroeconomic Optimization for Security of Electricity SupplyChristina Kockel0Lars Nolting1Kevin Pacco2Carlo Schmitt3Albert Moser4Aaron Praktiknjo5Institute for Future Energy Consumer Needs and Behavior (FCN), RWTH Aachen University, 52074 Aachen, GermanyInstitute for Future Energy Consumer Needs and Behavior (FCN), RWTH Aachen University, 52074 Aachen, GermanyInstitute for High Voltage Equipment and Grids, Digitalization and Energy Economics (IAEW), RWTH Aachen University, 52062 Aachen, GermanyInstitute for High Voltage Equipment and Grids, Digitalization and Energy Economics (IAEW), RWTH Aachen University, 52062 Aachen, GermanyInstitute for High Voltage Equipment and Grids, Digitalization and Energy Economics (IAEW), RWTH Aachen University, 52062 Aachen, GermanyInstitute for Future Energy Consumer Needs and Behavior (FCN), RWTH Aachen University, 52074 Aachen, GermanyHow dependent are European power systems and economies on natural gas? To answer this pressing question, we coupled a simulation model for assessing security of electricity supply and an economic optimization model. With this, we were able to analyze different reduction scenarios of the amount of gas utilized in the power sector. Our results show that reducing the amount of natural gas in the European power sector by up to 30% has a relatively moderate impact on the security of electricity supply. Restrictions of 40% or more result in substantially higher reductions in electricity demand shortfall and are associated with economic costs of more than EUR 77 billion. Furthermore, we demonstrate that a close coordination of gas distribution on a European level would be instrumental in mitigating negative economic consequences. Finally, it can be deduced that a coordinated delay of planned power plant shutdowns could effectively compensate for reduced gas volumes in the electricity sector.https://www.mdpi.com/1996-1073/15/23/8991security of electricity supplynatural gasEuropean power systemeconomic optimization |
| spellingShingle | Christina Kockel Lars Nolting Kevin Pacco Carlo Schmitt Albert Moser Aaron Praktiknjo How Dependent Are European Power Systems and Economies on Natural Gas?—A Macroeconomic Optimization for Security of Electricity Supply Energies security of electricity supply natural gas European power system economic optimization |
| title | How Dependent Are European Power Systems and Economies on Natural Gas?—A Macroeconomic Optimization for Security of Electricity Supply |
| title_full | How Dependent Are European Power Systems and Economies on Natural Gas?—A Macroeconomic Optimization for Security of Electricity Supply |
| title_fullStr | How Dependent Are European Power Systems and Economies on Natural Gas?—A Macroeconomic Optimization for Security of Electricity Supply |
| title_full_unstemmed | How Dependent Are European Power Systems and Economies on Natural Gas?—A Macroeconomic Optimization for Security of Electricity Supply |
| title_short | How Dependent Are European Power Systems and Economies on Natural Gas?—A Macroeconomic Optimization for Security of Electricity Supply |
| title_sort | how dependent are european power systems and economies on natural gas a macroeconomic optimization for security of electricity supply |
| topic | security of electricity supply natural gas European power system economic optimization |
| url | https://www.mdpi.com/1996-1073/15/23/8991 |
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