Benchmark Price Research Articles

Marginal Abatement Cost of Carbon Emissions under Different Shared Socioeconomic Pathways

Future emissions scenarios have served as a primary basis for assessing climate change and formulating climate policies. To explore the impact of uncertainty in future emissions scenarios on major outcomes related to climate change, this study examines the marginal abatement cost (MAC) of carbon emissions under the latest Shared Socioeconomic Pathways (SSPs) subject to the economic optimum and the 1.5 °C temperature increase constraint using the Epstein-Zin (EZ) climate model. Taking the “Regional Rivalry” (SSP3) scenario narrative under the economic optimum as a representative case, the expected MACs per ton CO2 equivalent (CO2e) emissions in the years 2015, 2030, 2060, 2100, and 2200 are: $102.08, $84.42, $61.19, $10.71, and $0.12, respectively. In parallel, the associated expected average mitigation rates (AMRs) are 0%, 63%, 66%, 81%, and 96%, respectively. In summary, in a world developing towards regional rivalry (SSP3) or fossil-fueled development (SSP5) with high mitigation pressure, the MAC values have approximately doubled, compared with the sustainability (SSP1) and inequality (SSP4) storylines with low mitigation pressure levels. The SSP2 (Middle of the Road) shows a moderate MAC decreasing trend with moderate mitigation pressure. The results provide a carbon price benchmark for policy makers with different attitudes towards the unknown future and can be used to formulate carbon mitigation strategy to respond to specific climate goals.

Comparative Cost-Efficiency Analysis of Trilaciclib, a Novel CDK4/6 Inhibitor, in the Prophylaxis of Chemotherapy-Induced Myelosuppression

Introduction. Trilaciclib (Cosela TM), a first-in-class breakthrough therapy, is a novel kinase CDK4/6 inhibitor that protects multiple hematopoietic lineages simultaneously by transiently arresting hematopoietic stem and progenitor cells (HSPC) in the G1 phase of the cell cycle and thus protecting HSPCs from damage by cytotoxic chemotherapy. Administered intravenously prior to the start of chemotherapy, it proactively delivers multilineage myeloprotection and therefore has the potential to improve the 3 major clinical manifestations of chemotherapy-induced myelosuppression (CIM): neutropenia, anemia, and thrombocytopenia. Trilaciclib was approved by the FDA in February 2021 and included in the NCCN Guidelines® in March 2021 for managing CIM in patients with extensive-stage small cell lung cancer (ES-SCLC) treated with a platinum/etoposide-containing or topotecan-containing regimen. As an alternative to single lineage-specific interventions with biological agents for neutropenia ([peg]filgrastim, ), anemia ([darb]epoetin alfa, alfa), and thrombocytopenia (romiplostim), trilaciclib may offer economic value in the prophylaxis and/or management of these adverse events. Cost-efficiency analysis evaluates the costs of various scenarios of delivering treatments to identify the most efficient cost-structure contributing to the value equation. The objective of this cost-efficiency analysis was to determine the savings (losses) in drug costs of managing 1 patient at risk for concurrent neutropenia and anemia and thrombocytopenia (NAT), neutropenia and anemia (NA), neutropenia and thrombocytopenia (NT), or anemia and thrombocytopenia (AT) with trilaciclib as opposed to any combination of biologicals, including biosimilars.Methods. Drug cost inputs included the wholesale acquisition cost (WAC; per REDBOOK; all agents) and the average sales price (ASP; per Centers for Medicare and Medicaid Services; all agents except trilaciclib as no ASP is available yet). An average cost was calculated for biosimilars. Dosing schedules were based on the maximum possible dose therapy in the NCCN Guidelines®. An Excel model was developed to calculate, for the 4 scenarios of CIM and the 32 WAC and ASP cost inputs across all agents, the drug cost for every possible combination of originator and biosimilar agents for 1 patient. These estimates were compared to the WAC of trilaciclib to determine the differential cost-efficiency of trilaciclib in terms of savings ($) accrued or losses (-$) incurred. This analysis focused on treatment with biological agents recommended in the NCCN Guidelines®. It did not consider platelet and red blood cell transfusion for thrombocytopenia and hence is limited to patients for whom transfusion is contra-indicated, physician decision to use romiplostim, or patient preference.Results. Table 1 presents the lowest, highest, mean, and median WAC and ASP differentials by chemotherapy-induced myelosuppression scenario. Mean and median differentials indicated cost savings with trilaciclib use across all chemotherapy-induced myelosuppression scenarios, with the exception of the ASP (with trilaciclib WAC) NA scenarios where losses were noted. Depending on single agents needed, savings ranged from $485.57 (AT ASP) to $9,531.60 (NAT WAC) per patient; with mean/median savings ranging from $646.36/$533.81 (AT ASP) to $7,397.69/$7,358.31 per patient.Conclusions. Myeloprotection with trilaciclib is a cost-efficient intervention when compared to managing individual or multiple myelosuppressive events with single-lineage, supportive care therapies. Unsurprisingly, costing conclusions are affected by the selection of an appropriate price benchmark. ASP tends to fluctuate more than WAC and is typically lower hence an ASP-based cost model may likely underrepresent the cost-efficiency of trilaciclib, as may be the case in the neutropenia/anemia scenario.(Data will be updated by conference time with the trilaciclib ASP if available). [Display omitted] DisclosuresMcBride: BMS: Current Employment. Henry: CVS Health: Current Employment. MacDonald: Matrix45, LLC: Current holder of individual stocks in a privately-held company. Abraham: Matrix45, LLC: Current holder of individual stocks in a privately-held company. OffLabel Disclosure:This presentation will discuss the use of romiplostim for the management of chemotherapy induced thrombocytopenia, an indication for which it has not received FDA approval.

Health Care Price Transparency in Ophthalmology

Health care price transparency legislation is intended to reduce the ambiguity of hospital charges and the resultant financial stress faced by patients. To evaluate the availability, usability, and variability of standard reported prices for ophthalmologic procedures at academic hospitals. In this multicenter economic evaluation study, publicly available price transparency web pages from Association of American Medical Colleges affiliate hospitals were parsed for standard charges and usability metrics. Price transparency data were collected from hospital web pages that met the inclusion criteria. Geographic practice cost indices for work, practice expense, and malpractice were sourced from the Centers for Medicare & Medicaid Services. Data were sourced from February 1 to April 30, 2021. Multiple regression was used to study the geographic influence on standard charges and assess the correlation between standard charges. Availability and variability of standard prices for Current Procedural Terminology (CPT) codes 66984 (removal of cataract with insertion of lens) and 66821 (removal of recurring cataract in lens capsule using laser). Of 247 hospitals included, 191 (77.3%) provided consumer-friendly shoppable services, most commonly in the form of a price estimator or online tool. For CPT code 66984, 102 hospital (53.4%) provided discount cash pay estimates with a mean (SD) price of $7818.86 ($5407.91). For CPT code 66821, 71 hospital (37.2%) provided discount cash pay estimates with a mean (SD) price of $2041.72 ($2106.44). The top quartile of hospitals, prices wise, listed included prices higher than $10 400 for CPT code 66984 and $2324 for CPT code 66821. Usability issues were noted for 36 hospitals (18.8%), including requirements for personal information or web page navigability barriers. Multiple regression analysis found minimal explanatory value for geographic practice cost indices for cash discount prices for CPT codes 66984 (adjusted R2 = 0.54; 95% CI, 0.41-0.67; P < .001) and 66821 (adjusted R2 = 0.64; 95% CI, 0.51-0.77; P < .001). Despite recent legislature that codified price transparency requirements, some current standard charges remain ambiguous, with substantial interhospital variability not explained by geographic variability in costs. Given the potential for ambiguous pricing to burden vulnerable, uninsured patients, additional legislation might consider allowing hospitals to defer price estimates or rigorously define standards for actionable cash discount percentages with provisions for displaying relevant benchmark prices.

Abnormal pricing in international commodity trade: Empirical evidence from Switzerland

Mispricing of international trade in natural resources poses a significant risk for tax base erosion from resource-rich, developing countries, while also contributing to regulatory and financial risks for commodity trading hubs. This paper presents a novel empirical approach which combines statistical price-filter analysis methods with commodity market research to provide evidence on the magnitude of abnormally priced Swiss commodity imports. Our analysis compares transaction-level import prices to an arm's length price range representing fair market value and defined using contemporaneous benchmark prices from commodity exchanges, adjusted for product-specific factors. We find a significant magnitude of abnormally under-valued unwrought gold doré imports as well as relatively smaller magnitudes of abnormally under-valued cocoa and coffee imports. Next, we contrast our new estimates with traditionally used proxies for trade mispricing based on aggregate mirror trade statistics to highlight the unreliability of widely used methods and data sources. Finally, we discuss the limitations in our analysis even using the best available administrative data which reinforces the urgency to improve the statistical infrastructure used to record international commodity trading in order to promote transparency and improve international trade governance.

Evolution laws and new trends of global LNG pricing and their implications

Natural gas is of great significance to ensuring China's energy security and achieving “carbon neutrality” by 2060. However, the lack of power to decide LNG import pricing and the high resource cost bring challenges to the stable supply of natural gas in China. In this regard, after analyzing the historical evolution laws of global LNG pricing, this paper systematically summarizes the pricing trends of newly signed contracts in 2020, and comparatively analyzes China's long-term LNG import pricing modes and its problems. And the following research results were obtained. First, the global LNG pricing mechanism is more diversified, regional characteristics and “Asian premium” problems are obvious, and different pricing mechanisms complement each other. Second, the newly signed long-term LNG agreement is linked with oil prices to play a dominant role again, and the oil-linked slope declines continuously and presents a dynamic mixed S-curve. Third, China's long-term LNG agreement is linked with oil prices at a high proportion, so there are no market conditions of gas–gas competition and the price review period is long. Finally, several suggestions were proposed for China's LNG import pricing. Firstly, stick to the principles of “short-term flexibility” and “long-term stability”, and make use of multiple modes comprehensively, e.g. gas–gas competition and Brent price linked, instead of completely decoupling oil prices. Secondly, referring to global newly signed contracts and Asian reviewed contracts, adhere to the principle of market parity, improve the price review terms and shorten the review period. Thirdly, the government shall support the construction of natural gas trading centers and futures markets and form the internationally recognized regional benchmark price as soon as possible. Fourthly, make a plan in advance, establish a risk hedging mechanism and control the overall cost of imported LNG resources.

Excessive Pharmaceutical Pricing as an Abuse of Dominant Position – The Case of CD Pharma (Denmark)

Abstract On 31 January 2018, the Danish Competition and Consumer Authority adopted a decision1 finding the Swedish company generic distributor CD Pharma in breach of Art. 102(a) Treaty on the Functioning of the European Union (TFEU) by abusing its dominant position and having imposed excessive and unfair prices for the drug Syntocinon. The company increased the price of the drug by 2000% in the period April-October 2014 in the Danish pharmaceutical market. CD Pharma appealed to the Danish Competition Appeals Board,2 which on 29 November 2018 upheld the decision by the Authority. On subsequent appeal to the Danish Maritime and Commercial Court,3 the judgment by the previous court was upheld in a 3-2 decision on 2 March 2020, thus finding CD Pharma liable for infringement of Danish competition law as well as Art. 102(a) TFEU. The decision is final and not subject to further appeal. The case raises outstanding legal-economic issues regarding excessive pricing such as relevant market definition in pharmaceutical cases, the length of abuse, competitive price benchmarks, definition of economic value and the matter of dominance in public procurement and tenders. The case is rather unusual in that the alleged abusive period amounted to a six-month period, CD Pharma was the ‘losing’ party in the bidding process for the supply of the medicine in question, and CD Pharma subsequently had reduced prices through negotiations with the Danish central medicine procurer, Amgros. Similar to the Aspen Pharma decision4 by the Italian Competition Authority, where the Italian Medicine Agency (AIFA) reported the case to the Competition Authority, it was the Danish medicine procurer Amgros who had notified the Danish Competition and Consumer Authority about allegedly abusive practices. This subsequently led to an investigation and the adoption of the Decision. Following an introduction describing the Danish pharmaceutical market and specifics of the case, section two of this contribution details the proceedings at Danish Competition Authority. Section three depicts the proceedings at Competition Appeals Tribunal, and section four deals with the proceedings at the Maritime and Commercial Court. Section five concludes.

How to promote the effective implementation of China’s Renewable Portfolio Standards considering non-neutral technology?

Renewable Portfolio Standards (RPS), as the strategic requirement effectively fits the top-level institution design of China's low-carbon energy transition, will help to promote China's energy structure optimization and power market reform. The success of its implementation depends on the scientific quasi-parameters design of the system. At present, China's tradeable green certificate (TGC) market is still in the voluntary trading stage. There are differences in natural attributes and transaction prices, resulting in the market segmentation and market distortion of the TGC market. Considering the non-neutral technology, this paper uses system dynamics to construct a long-term trading model under China's RPS, and analyzes the impact of relevant system quasi-parameters on the market trading process. The results show that:(1) The scientific quasi-parameters design of the RPS, such as technical conversion coefficient, TGC valid period, TGC benchmark price and RPS quota, will encourage and guide manufacturers to conduct TGC transactions, which will promote the development of renewable energy. (2) The introduction of the technical conversion coefficient can effectively promote TGC transactions, improve China's social welfare and optimize the power source structure. Therefore, the scientific design of the relevant quasi-parameters and strengthening of the supervision mechanism are conducive to implementing the RPS effectively in China.

‘Where Have all the Distortions Gone?’ Appellate Body Report, Ukraine–Ammonium Nitrate

AbstractThis article reviews the Appellate Body Report in the Ukraine–Ammonium Nitrate dispute that focused on the impact of Russia's dual pricing in the natural gas market on the ammonium nitrate market. Interpreting the WTO Anti-Dumping Agreement (ADA), the Appellate Body rejected the possibility to reject input costs, which, though distorted, were duly reported in the company's records, and to replace them with a surrogate price which, for the Ukrainian authorities, was the (adjusted) export price of Russian natural gas at the German border. In this article, (a) we fully review the background of the dispute, showing the connections between natural gas and ammonium nitrate prices, and the impact on Russia's price regulation of the domestic market on them; (b) we then review the ADA and concur with the interpretation of the Appellate Body, essentially for systemic reasons; (c) for completeness, we also investigate whether econometrics could accurately determine the natural gas benchmark price in Russia and conclude in the negative; (d) since dual pricing gives an economic benefit to domestic ammonium nitrate producers, we finally test dual pricing under the WTO subsidy rules. The conclusion is that the current disciplines are not likely to apply to dual pricing and lead us to conclude that important distortions are currently left without regulation in the WTO.

Benchmark, relative return, and asset pricing

ABSTRACT In this note, we develop a simple asset pricing model using the relative return to a benchmark. The model makes no assumption on free-risk securities, equilibrium conditions, utility functions, diffusion processes, probability distributions, or return generating processes. Our main result indicates that the asset’s expected return is equal to the expected return of the lowest-risk asset, plus a risk premium directly proportional to the covariance between the asset’s excess return and the benchmark factor. This suggests that an asset pricing model can be built without restrictive assumptions. This also suggests that the classic CAPM can be viewed as a special case of our benchmark model.

Techno-economic aspects of different process approaches based on brown macroalgae feedstock: A step toward commercialization of seaweed-based biorefineries

Brown macroalgae, so called seaweed, has shown promising potential to produce biofuel and biobased chemicals. However, a single-product biorefinery producing biofuel from seaweed at an industrial scale has many economic obstacles, hindering its commercialization. In the present contribution, a model-based process analysis was performed in which (1) the main economic barriers of an only-fuel approach were studied extensively, (2) an innovative biorefinery approach was applied to remove the economic impediments and pave the way to the commercialization of a seaweed-based biorefinery. Nizimuddinia zanardini, a natural and widely available brown macroalga in Iran, was chosen as the plant's feedstock. In the only-fuel approach, the seaweed was used to produce fuel ethanol and electricity exclusively. In the biorefinery approach, an integrated process was applied to produce fuel ethanol, electricity, and high-value chemicals, i.e., mannitol, alginate, and protein. Simulations were conducted by Aspen Plus®, and the results were employed to perform an economic analysis. Considering the internal rate of return of 20% for the plant location, the profitability indices of both process frameworks were calculated. Based on the profitability indices, the only-fuel approach was economically unviable, mainly due to the low conversion rate of ethanol from seaweed carbohydrates. On the other hand, the biorefinery approach was cost-effective, having produced highly valuable chemicals. Therefore, it is much more lucrative to produce high-value chemicals besides biofuel than to exclusively produce biofuel from seaweed feedstock. The maximum allowable dry seaweed price (MDSP) was −64 and 374 US$ per ton of dry seaweed for the only-fuel and biorefinery approaches, respectively. MDSP of the biorefinery approach can be used to set a benchmark price for future studies on seaweed cultivation.

PNS75 The Evolution of Payer Perceptions of Icer

The influence of the Institute for Clinical and Economic Review (ICER) value assessment framework (VAF) on payer decisions has been increasing in recent years. There is limited evidence assessing how ICER’s VAF updates have influenced payer perceptions of ICER reports over time. To assess trends in payer perceptions of ICER’s evaluations over the last 4 years. Double-blinded web-based surveys were fielded in November 2016, November 2018, and October 2020 to individuals from integrated health delivery systems, pharmacy benefits managers, managed care organizations, and specialty pharmacies. There were 55, 54, and 47 payers who completed the surveys in 2016, 2018, and 2020, respectively. Respondents identified clinical outcomes relevant to decision making (62%), validity of the framework (57%), and clear and transparent methodology (53%) as the top strengths of ICER reports in 2020. In prior years, a transparent methodology (53% in 2016 and 56% in 2018) was considered a top strength. Limitations were somewhat consistent with prior years, including not having results at the time of decision making (30% in 2020 vs 28% in 2018 and 45% in 2016). Respondents identified comparative clinical effectiveness (79%) and health-benefit price benchmarks (57%) as the most influential components of ICER reports in 2020, which was consistent with prior years, especially for comparative clinical effectiveness (100% in 2016 and 89% in 2018). The most unclear component of ICER reports has steadily been the other benefits and contextual considerations section (30% in 2020 vs 37% in 2018 and 27% in 2016). While payer perceptions of ICER’s evaluations have evolved, methodology transparency has consistently been reported as a top strength over time, and timeliness of ICER reports continues to be a primary limitation.

Price transparency in OTC equity lending markets: Evidence from a loan fee benchmark

We study the effects of a price transparency shock in the Brazilian equity lending market, an over-the-counter market. Previously, the available loan fee benchmark was the mean loan fee of the past 15 trading days. On March 1, 2011, this interval was reduced to three days, significantly improving short-sellers’ ability to predict current loan fees. We find that after the benchmark change, loan fees fell, lending volume increased, total lending revenue remained stable, high-cost lenders lost market share, and price efficiency increased. Our results suggest implementing price benchmarks in OTC markets can improve market quality.

Modeling of Extreme Crude Oil Price using the Generalized Pareto Distribution: Brent and West Texas Benchmark Price

Background and objective: Crude oil is an essential commodity in many countries of the world. This work studies the risk involved in the extreme crude oil price, using the daily crude oil price of the Brent and the West Texas benchmark from year 1990 to 2019. Materials and methods: The Peak Over Threshold (POT) approach of the Generalized Pareto Distribution (GPD) was used to model the extreme crude oil price while the value at risk and the expected shortfall was used to quantify the risk involved in extreme price of crude oil. The GPD, using the Q-Q plot was found to be a good model for the extreme values of the crude oil price. Results: The Value at Risk (VaR) and the Expected Shortfall (ES) calculated at 90%, 95% and 99% with the Maximum Likelihood estimators of GPD parameters and the threshold values were found to decrease with increase in quantile for both benchmark. This shows that risk involved in extreme crude oil price will be borne only by the investors and public. Conclusion: It was also found that the VaR and ES of the Brent are higher than that of West Texas. This implies that it is safer to invest in West Texas crude oil.

Do natural hazards in the Gulf Coast still matter for state-level natural gas prices in the US? Evidence after the shale gas boom

Historically, natural gas prices in the United States are closely linked to supply disruptions in the Gulf Coast due to the dominance of offshore and Gulf states production. Over the past decade, the combined share of natural gas production from the states in shale-rich areas has increased dramatically, while Gulf region production has become less important. One reasonable assumption is then that the supply disruptions due to weather events in the Gulf Coast exert a much smaller effect on natural gas prices compared to the pre-shale era. This paper uses panel distributed lag models to empirically test this hypothesis using state-level natural gas prices from 1995 to 2016. Property losses due to natural hazards in Texas and Louisiana are used to represent supply shocks in the natural gas market from the Gulf area. Results show that natural gas prices in both importing and exporting states have become less responsive to natural hazards in Texas but more sensitive to hazard events in Louisiana since the shale boom. These results are robust to the break dates used, the geographical location of states considered, and the empirical specifications employed. The increasing importance of Louisiana in natural gas pricing is perhaps due to its role as the benchmark pricing location for US natural gas and its expansive pipeline networks.

A Detector and Evaluation Framework of Abnormal Bidding Behavior Based on Supplier Portrait

In a large number of bidding supplier groups, it is difficult to accurately find suppliers with unreasonable bidding behavior. In order to solve the problem of precise positioning of massive abnormal bidding behavior groups of diverse and widely distributed suppliers, the authors design a detector framework of abnormal bidding behavior based on supplier portrait. This paper mainly focuses on three abnormal bidding behaviors which harmful to the tenderers—“affiliated operation,” “subcontracting behavior,” and “colluding behavior.” Based on the bidding behavior records of suppliers, this paper establishes supplier portraits in four dimensions. In order to solve the problem that the detection algorithm under the unlabeled data is difficult to verify, this research establishes a new evaluation framework based on the bid base price formula and benefit map database of the supplier. The experiment verifies that the framework can effectively detect most suppliers with abnormal bidding behavior and can significantly change the benchmark price after eliminating abnormal suppliers.

Потенциальные ущербы от опасных и неблагоприятных метеорологических явлений на территории Российской Федерации: региональные особенности

Based on the method and statistical model of the Hydrometeorological Centre of Russia (V. V. Oganesyan) and using data of meteorological observations at more than 1400 stations in Russia, a centralized assessment of potential damage from the main types of severe and adverse weather events is made in monetary terms both throughout Russia and on the territories of individual Regional Offices of the Federal Service for Hydrometeorology and Environmental Monitoring and individual constituent entities of the Russian Federation. To provide comparability of the results for different years, monetary estimates for Russia and its individual territories are reduced to the benchmark price level of 2017. For 2017, the integral estimate of potential damage for Russia is compared with the estimate of damage from severe and adverse weather events as a share of the country’s annual GDP. In this case, the difference in the above estimates does not exceed 5.4%. Keywords: potential damage, severe and adverse weather events, statistical model, monetary assessment, macroeconomic estimates, gross domestic product, economic sector

Grid Parity Analysis of China’s Centralized Photovoltaic Generation under Multiple Uncertainties

The cost of centralized photovoltaic (CPV) power generation has been decreasing rapidly in China. However, the achievement of grid parity is full of uncertainties due to changes in policies and the industry environment. In order to explore the time, price, and external conditions in which grid parity can be achieved, we create the improved grey GM (1, 1) model to estimate the installed capacity over the next 10 years, and apply a learning curve to predict the cost of CPV generation. In the analysis of grid parity, we compare the benchmark price of coal power and the price under the market-oriented mechanism with CPV. The results show that China’s CPV industry will enter the early stage of maturity from 2020 onwards; with the help of benchmark investment, the grid parity of CPV may be achieved in 2022 at the earliest and 2025 at the latest. After 2025, the photovoltaic electricity price will be generally lower than the coal electricity price under marketization. By 2030, CPV power generation costs will reach US $0.05/kWh, the accumulative installed capacity will exceed 370 GW, and the uncertainties will lead to a cumulative installed gap of nearly 100 GW.

Techno-economic assessment of photovoltaic power generation mounted on cooling towers

The deployment of photovoltaic systems based on existing buildings has been the focus of research in recent years. It is necessary to evaluate the techno-economic performance of the new photovoltaic system deployment strategy for its actual implementation. In this paper, we comprehensively evaluated the power generation potential and economic performance of photovoltaics deployed on hyperbolic cooling towers in Mainland China. Based on the local solar radiation situations and electricity prices, we analyzed both the technical and economic performance of cooling towers photovoltaic (CT-PV) located in different cities. The results show that the total capacity of photovoltaic installations on all cooling towers reaches 1.05 GW, with corresponding annual power generation of 1.44 TWh. The total CO2 emission reduction and total profit by CT-PV cooling towers photovoltaic over a lifetime of 25 years can reach 31 Mts and 8.00 billion CNY, respectively. The return on investment is between 1.1 and 2.49, depending on the location. The payback period for all cities is less than 8 years, and around 90% of the cities’ solar generation electricity prices are below 0.35 CNY/kWh, which can compete with the benchmark price of coal-fired electricity. These results reveal that CT-PVs cooling towers photovoltaics have significant potential for PV photovoltaic application with attractive energy and economic benefits.

Contribution of pine Resin’s income in partnership with Central Mamasa forest management unit

The development of forest management Unit provides opportunities for forest exploitation and the opportunity of the parties to participate in managing forest resources in accordance with their characteristics and remain the surrounding community. This research aims to determine the contribution of pine sap tapping to farmers ’ income, knowing how much regional income from the results of pine sap tapping activities, and describing the pattern of pine sap Business partnership. The study was conducted for four months from April to July 2019. The population of this research, namely pine sap farmers, the company, the Union of Central Mamasa forest management, and related stakeholders in forestry management and decision-makers. Data collection is done with in-depth interviews, focused group discussions, and observations. Data analysis is done in a qualitative descriptive and quantitative analysis. The results of this study showed that the activity of pine sap tapping will contribute farmers ’ income from pine sap tapping partnership patterns of 60,688% of the total income of farmers every month. The pattern of the partnership that is located in pine resin in central Mamasa KPH is a pattern of cooperation and share for the result or benefit-sharing from the pattern of the cooperation of pine sap KPH, the central Mamasa with PT. Kencana Hijau Bina Lestari provide For the yield to the region of pine resin production amounting to 12.5% of the local benchmark price agreed per 1 (one) kilogram.

Economic Factors Analysis and Optimization Strategy of Third-generation Nuclear Power

Due to the project delay, the construction price of the first unit of the two types of third-generation nuclear motor type AP1000 and EPR in China is higher than the local benchmark price of coal. If the delay is not considered, only the first unit factor is considered, the price should be between 0.48-0.49 yuan/kWh. Compared with the construction period and electricity price of solar power generation and wind power, this price still has no advantage. Therefore, the economic efficiency of nuclear power has become a key factor to determine whether nuclear power can occupy a place in the future power market and then get rapid development. In this paper, combined with the construction experience of third-generation nuclear power in China, a comprehensive economic analysis of nuclear power is carried outfrom the design requirements, equipment procurement, construction period, financing channels, operation and maintenance strategies and other factors, so as to provide direction guidance for the economic improvement of the subsequent batch construction of the third-generation nuclear power and the better participation of nuclear power in the power market competition.