The tail risk safe haven property of China's energy futures against US market implied volatility

This paper analyses the tail risk contagion of US market implied volatility(USIV)on China's energy futures(CEF)markets,exploring how to utilize operations in the CEF to achieve a safe haven.Leveraging CEF characteristics to simultaneously take both long-/short-positions and engage in long-/short-run investment horizons,this paper defines eight different CEF safe haven attributes to counteract the tail risk of extreme increases in USIV.Using trading data from March 27,2018,to October 30,2023,the empirical results show that,first,in the analysis of the entire sample period,China's coking coal futures can serve as a weak safe haven,aiding long-position investors in mitigating the tail risks associated with US gold and stock market implied volatility.Coking coal futures also assist short-position investors in countering US stock market implied volatility tail risk.Second,in the sub-period analysis,the safe haven attributes of CEF exhibit strong heterogeneity and asymmetry across different periods.Finally,the time span during which CEF exhibits a particular safe haven attribute does not persist for an extended period.

The energy-chemistry nexus: A vision of the future from sustainability perspective

The changing energy-chemistry nexus is discussed in this perspective paper about the future of sustainable energy and chemical production to identify the priorities and open issues on which focus research and development. Topics discussed regard （i） the new sustainable energy scenario, （ii） the role of energy storage （from smart grids to chemical storage of energy）, （iii） the outlooks and role of solar （bio）refineries and solar fuels, （iv） how to integrate hio- and solar-refineries to move to new economy, （v） the role of methanol at the crossover of new energy-chemistry nexus, （vi） the role of chemistry in this new scenario, （vii） the role of nanomaterials for a sustainable energy, （viii） the use of nanocarbons to design advanced energy conversion and storage devices, and （ix） possibilities and routes to exploit solar energy and methane （shale gas）. The contribution provides a glimpse of the emerging directions and routes with some elements about their possible role in the future scenario, but does not orovide a detailed analysis of the state of the art in these directions

Green energy for green future

Glories in the history of civilization are built on the burning of non-renewable fossil fuels.In the last fifty years,the global population increased over twice,from 3.0 billion in 1960 to 7.3 billion in2015,and the global GDP increased over 50 times,from 1.4 trillion US$in 1960 to 74.2 trillion US$in 2015.Along with the evolution of humanity is the skyrocketing fossil fuel consumptions,from3514.2 millions of tonnes of oil equivalent/year(mtoe/y)in 1965 to11,306.4 mtoe/y in 2015,as well as the irreversible climate

Shandong focuses on a clean energy future

According to Shandong Development and Reform Commission, the province’s new energy industry is expected to grow at an annual average rate of 20% to reach

Revised Fault Free Analysis Method for Reliability Evaluation of Smart Grids

Smart grid was proposed as a practical form of future power distribution system. Evaluating the reliability of smart grids was of great importance and significance. A revised fault tree model was proposed to distinguish and separate grid-connected operation mode and islanded operation mode of smart grids,focusing on the perspective of the consumers. A hierarchical Monte Carlo simulation method for reliability evaluation was also proposed based on the proposed fault tree model. A case of reliability evaluation for the future renewable electric energy delivery and management( FREEDM) system was carried out and analyzed. The proposed methods can be applicable to other forms of smart grids.

Projected Long-Term Behavior of the CO2 Emission Factor in the Electricity System of Uruguay

Estimating CO2 emission factor of the electricity system is a key aspect in the calculation of the baseline emissions for projects certified as CDM （Clean Development Mechanism）, which replace energy from the grid. Currently, Uruguay is driving the expansion of the electricity system based on domestic renewable energies, in addition to replacing oil-based fuels for others with lower emission factors. This implies a substantial change of the generation park in the next decade and of the associated CO2 emissions. In this paper, a calculation methodology of the baseline emissions is adapted for its incorporation in the software SimSEE （Electric Energy Systems Simulator）, which is used for modeling the Uruguayan electric system, and therefore, allows modeling the current energy generator park and the future one. Using this tool, the CO2 emission factor＇s evolution is evaluated in the 2012-2020 period. The 2020 scenario is based on an optimal expansion of the electric system. The results indicate a strong reduction of the emission factor between 2012 and 2020, going from average values （for 100 simulations） around 0.60 tCO2/MWh to 0.15 tCO2/MWh. In this possible future scenario, CDM certification will probably not act as a strong incentive in Uruguay for the development of projects based on non-traditional renewable energies.

A closed nuclear energy system by accelerator-driven ceramic reactor and extend AIROX reprocessing

For the future energy system, we propose a new closed nuclear energy cycle system, which consists of an accelerator-driven external neutron source, a ceramic reactor and an extend AIROX reprocessing. The attractive features of this system are as follows. （l） The operating mode of the reactor is a combination of subcritical mode and critical mode. initially, the reactor would be driven by the accelerator external neutron source in subcritical mode. A few years later, the reactor would reach the critical mode, and then would operate for a long time. （2） Nuclear fuels, coolants, and structure materials in the ceramic reactor core are made up of ceramic with excellent thermodynamics properties and neutron performance. Therefore, the ceramic reactor has extremely inherent safety, good breeding performance and high power generation efficiency. （3） Fuel reprocessing uses an extend AIROX reprocessing, which is a simple high-temperature dry process and rarely involved in chemical process. In this reprocessing, only most of fission products are separated. Other isotopes, including uranium isotopes, transuranic nuclides and long-lived fission products, would re-enter the reactor as new fuels. Therefore, this closed nuclear energy system could be known as ADANES, short for Accelerator-Driven Advanced Nuclear Energy System, which can greatly improve the utilization rate of nuclear fuels, enhance the nuclear safety, reduce the nuclear proliferation and become a sustainable and low-carbon energy supply for thousands of years.