Energy Studies Review <p><strong>Energy Studies Review</strong>, a publication of the <strong>DeGroote School of Business, McMaster University,</strong> is an applied energy policy journal published in Canada.</p><p>An interdisciplinary journal for energy analysts (published first in 1988), Energy Studies Review's major themes include energy policy, energy and the environment, energy technology, social impacts of energy utilization and surveys of experimental and theoretical approaches.</p><p>We also publish special issues devoted to specialized topics emerging from conferences or workshops devoted to particular themes. Articles in both English and French are welcome.</p><p><strong>Energy Studies Review</strong> also hosts conferences and workshops. The most recent conference, "CONSERVATION &amp; DEMAND MANAGEMENT IN A SUSTAINABLE ENERGY FUTURE", took place on Monday June 11, 2012 at the Ron Joyce Centre, McMaster University, Hamilton ON Canada. For more information on past conferences and future events, please go to our <a title="CONFERENCES" href="">Conferences</a> page.</p><p><strong>Contact Information:</strong></p><p><strong>Energy Studies Review</strong></p><p>DeGroote School of Business, McMaster University, DSB-A101 Hamilton ON L8S 4M4 CANADA</p><strong>Tel: 905-525-9140 ext. 24695 Email: <a href=""></a></strong> en-US <h2 id="rights">Rights for Authors</h2><p>As further described in our submission agreement (the Submission Agreement), in consideration for publication of the article, the authors assign to <span>Energy Studies Review </span>all copyright in the article, subject to the expansive personal--use exceptions described below.</p><h4>Attribution and Usage Policies</h4><p>Reproduction, posting, transmission or other distribution or use of the article or any material therein, in any medium as permitted by a personal-use exemption or by written agreement of <span>Energy Studies Review</span>, requires credit to <span>Energy Studies Review</span> as copyright holder (e.g., <span>Energy Studies Review</span> © 2014).</p><h4>Personal-use Exceptions</h4><p>The following uses are always permitted to the author(s) and do not require further permission from DigitalCommons@McMaster provided the author does not alter the format or content of the articles, including the copyright notification:</p><ul><li>Storage and back-up of the article on the author's computer(s) and digital media (e.g., diskettes, back-up servers, Zip disks, etc.), provided that the article stored on these computers and media is not readily accessible by persons other than the author(s);</li><li>Posting of the article on the author(s) personal website, provided that the website is non-commercial;</li><li>Posting of the article on the internet as part of a non-commercial open access institutional repository or other non-commercial open access publication site affiliated with the author(s)'s place of employment (e.g., a Phrenology professor at the University of Southern North Dakota can have her article appear in the University of Southern North Dakota's Department of Phrenology online publication series); and</li><li>Posting of the article on a non-commercial course website for a course being taught by the author at the university or college employing the author.</li></ul><p>People seeking an exception, or who have questions about use, should <a href="/esr/about/contact">contact the editors</a>.</p> (Ruth Sutherland) (Ruth Sutherland) Tue, 12 Sep 2017 00:00:00 -0400 OJS 60 Term Structure of Natural Gas Futures Contracts <p>This paper considers the possibility of the persistence of quasi rents in the US natural gas industry. We compare the term structure of gas and oil futures, and test for cointegration between gas and oil prices. The results indicate that natural gas yield curves are consistently higher than those of oil, reflecting possible higher risk premiums. The results also indicate that gas prices are cointegrated with and are driven by oil prices. This is consistent with the notion of oil price serving as market indicator for gas contracts with potential quasi-rents. Our findings are important in supporting the view that natural gas markets may maintain quasi-rents, despite evidence of long-term trends in improving market efficiency.</p> Guych Nuryyev, Charles Hickson ##submission.copyrightStatement## Tue, 12 Sep 2017 10:01:58 -0400 On the Impact of Wind Feed-in and Interconnections on Electricity Price in Germany In this paper, we explore carry out an empirical analysis for Germany, as a country with high penetration of wind energy, to investigate the interaction between the well-known merit-order effect, i.e., falling spot price levels as well as highly fluctuating spot prices and the European electricity grids inteconnections,i.e., market coupling.<br />Our main empirical findings suggest that wind power in-feed decreases electricity spot price level but increases spot prices volatility. Furthermore, the relationship between wind power and spot electricity prices can be strongly impacted by European electricity grids interconnection which behaves like a safety valve lowering volatility and limiting the price decrease. Therefore, the impacts of wind generated electricity on electricity spot markets are<br />less clearly pronounced in interconnected systems Francois Benhmad, Jacques Percebois ##submission.copyrightStatement## Tue, 12 Sep 2017 10:01:58 -0400 THREE INVESTMENT SCENARIOS FOR FUTURE NUCLEAR REACTORS IN EUROPE <p>While nuclear power may experience a technological breakthrough in Europe with Generation IV nuclear reactors within a few decades (2040), several events and drivers could question this possibility, e.g. the Fukushima accident, climate issues and liberalization of the electricity market.</p><p>This article analyzes how the conditions necessary for their industrial development from now up to 2040 can be either favorable or detrimental to future nuclear reactors compared with other technologies and according to four main investment drivers: 1) technical change, 2) policy, 3) market, and 4) power company drivers.</p><p>Twenty-four scenarios have been identified through structural analysis, with only three proving to be favorable to the development of future nuclear reactors.</p> BIANKA SHOAI TEHRANI, PASCAL DA COSTA ##submission.copyrightStatement## Tue, 12 Sep 2017 10:01:59 -0400 TIME-SERIES ANALYSIS OF PRICE INTERRELATIONS IN MAJOR U.S. FOSSIL FUELS MARKETS <p>The objective of this study is to analyze price movements and interrelations of U.S natural gas, oil, and coal prices, as three main fossil fuels in the US. Structural break were identified in both natural gas and oil prices in February of 2009, at the peak of U.S. financial crisis. Both natural gas and oil are shown to be weak substitutes for coal, while the opposite relationships are not found. Stronger U.S. dollar led to lower fossil fuel prices, while only oil prices have been shown to depend on movement of income per capita and stock market.</p> DRAGAN MILJKOVIC, NATE DALBEC ##submission.copyrightStatement##