News in brief

2023

The economic effects of El Niño

10 May 2023

Dr Kamiar Mohaddes talked to the podcast of the Economic Times about the economic effects of El Niño for India, the rest of the Asia Pacific, the United States and the global economy regarding economic growth and inflation. This is based on his work with various colleagues (including from the International Monetary Fund), such as “The growth effects of El Niño and La Niña: local weather conditions matter” and “Fair weather or foul? The macroeconomic effects of El Niño”. Visit the Economic Times website to listen to the podcast, which is also available on various platforms, such as Spotify.

Addressing carbon leakage risk to support decarbonisation

27 June 2023

Michael Mehling (MIT CEEPR) and Robert Ritz (EPRG) recently submitted a response to the UK government consultation “Addressing carbon leakage risk to support decarbonisation: a consultation on strategic goals, policy options and implementation considerations”, based on their research on carbon border adjustment mechanisms. Read the response.

Management Science research covered in the FT, Bloomberg and Reuters

23 August 2023

Kamiar Mohaddes’ co-authored article “Rising temperatures, falling ratings: the effect of climate change on sovereign creditworthiness” just published in Management Science, has recently been covered in the Financial Times, Bloomberg and Reuters.

Many argue that climate-related risks will only materialise many decades from now, but using AI to construct climate smart sovereign credit ratings we show climate-driven downgrades within this decade.

An earlier version of the article was published as an EPRG working paper. Download the working paper.

400k views on Facebook for video on the economics of climate change

9 November 2023

A short video has been made by Oxford University Press about EPRG Associate Researcher Kamiar Mohaddes’ recent work on the economics of climate change.

Prevailing economic research anticipates the burden of climate change falling on hot or poor nations. Some predict that cooler or wealthier economies will be unaffected or even see benefits from higher temperatures!

However, by studying the long-term impact of climate change using data on the most advanced economy in the world, we show that virtually all countries – whether rich or poor, hot or cold – and across all sectors – from agriculture to mining, and from retail trade to manufacturing – will suffer economically if the current trajectory of carbon emissions is maintained.

Visit Facebook to watch the video.

An unruly OPEC is causing problems for Russia and Saudi Arabia

5 December 2023

An article published this week, “An unruly OPEC is causing problems for Russia and Saudi Arabia”, references Robert Ritz’s 2017 paper published in Energy Economics. Visit the Economist website to read the article.

2022

IAEE award for Stephen Littlechild

26 October 2022

In August Stephen Littlechild was awarded the 2022 prize for Outstanding Contributions to the Profession by the International Association for Energy Economics (IAEE). Visit the IAEE website to read his acceptance speech.

The future of electricity policy

11 October 2022

The Energy Policy Research Group recently provided 2 timely new contributions on the future of electricity policy in response to a major government consultation on the subject. In July 2022, the UK Department for Business, Energy, and Industrial Strategy (BEIS) released its Review of Electricity Market Arrangements (REMA), which BEIS described as “the biggest electricity market reform in a generation”, and submissions were due on 10 October 2022.

Professors David Newbery, Michael Pollitt and David Reiner, and Dr Robert Ritz, submitted a response to the REMA Consultation Document Questions, going through each of the chapters in detail.

Professor David Newbery, EPRG’s director wrote a commentary on the future of UK electricity policy in response to REMA.

Power to the people

14 February 2022

Michael Pollitt took part in a podcast, “Power to the People”, with the Byline Times on 9 February 2022. Visit the Byline Times website to listen to the podcast.

2021

The EU emission trading system

26 July 2021

Michael Pollitt recorded a podcast on the EU emission trading system. The podcast is organised by Centre on Regulation in Europe (CERRE) and hosted by CERRE’s Head of Energy and Sustainability, Albéric Mongrenier. Visit Soundcloud to listen to the podcast.

Michael Grubb and Karsten Neuhoff win the Marcel Boiteux International Award

15 June 2021

EPRG is delighted to announce that EPRG Associate Researchers Michael Grubb and Karsten Neuhoff won the 2021 IAEE Marcel Boiteux Best International Energy Economics Book Award for their book ‘Planetary Economics: Energy, Climate Change and the Three Domains of Sustainable Development’ (with Jean-Charles Hourcade). Congratulations to Michael and Karsten!

How fit is DSO regulation for a decarbonised Europe?

4 May 2021

Michael Pollitt and Karim Anaya took part in the CERRE public event “How fit is DSO regulation for a decarbonised Europe? Empirical assessment and regulatory pathways” on 30 April 2021. The webinar covered CERRE’s latest Energy and Climate report, “Optimal regulation for European DSOs to 2025 and beyond”. Visit the CERRE website to watch the webinar.

Reaching net zero: scenarios and regulation to rethink sector coupling

16 March 2021

On Tuesday 16 March 2021, the Centre on Regulation in Europe (CERRE) hosted a public event to launch and debate its latest Energy and Climate report “Electricity and gas coupling in a decarbonised economy”, which was co-authored by some EPRG members. Michael Pollitt and Chi Kong Chyong were among the speakers at the event. Visit YouTube to watch a recording of the event.

2020

Economics and energy transitions

27 October 2020

Michael Pollitt recorded a podcast, “Economics and energy transitions”, organised by the Centre for Science and Policy at the University of Cambridge and hosted by Dr Robert Doubleday. Visit YouTube to listen to the podcast.

Is nuclear power the answer to climate change?

1 July 2020

Simon Taylor, EPRG Associate Researcher, was interviewed for The Spectator podcast “Is nuclear power the answer to climate change?” on 26 June 2020. Visit the Spectator website to listen to the podcast.

2019

Cambridge Zero Initiative

23 October 2019

EPRG is pleased to be part of the new climate change initiative – Cambridge Zero. This ambitious initiative will harness the full breadth of the University’s research capabilities – from the sciences, engineering, humanities and social sciences – and policy expertise, to respond to climate change and support the transition to a sustainable zero-carbon future, both in the UK and globally.

This initiative is not just about developing greener energy, technologies and materials. It’s about addressing every aspect of a zero carbon future: the impact it will have on our lives, our work, our society and our economy, and ensuring decisions are based on the best available knowledge. By enhancing the University’s existing networks of external engagement and collaboration, and actively seeking new partners, it will create a platform for change.

Through a bold programme of education, research, demonstration projects and knowledge exchange focused on supporting a zero-carbon world, the ambition is to generate and disseminate the ideas and innovations that will shape our future – and to equip a new generation of leaders with the skills to navigate the global challenges of the coming decades.

Cambridge Zero is led by Dr Emily Shuckburgh, a world-leading climate scientist and gifted science communicator. In her previous role at the British Antarctic Survey she led a national research programme on polar climate change.

Cambridge Zero will be formally launched in late November 2019. Visit the Cambridge Zero website for more information, and to keep up-to-date with its progress.

2018

Robert Ritz appointed to Ofgem Academic Panel

14 May 2018

We are pleased to announce that Robert Ritz, one of EPRG’s Assistant Directors, has been appointed as a member of Ofgem’s Academic Panel. The Panel is set to enhance Ofgem’s strategic thinking and early-stage policy development. Visit the Ofgem website for more details on the Panel, its aims and current members.

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