Hydropower Companies Research Articles

Analysis of Optimal Water Levels in the Great Lakes Based on A Comprehensive Satisfaction Function

The purpose of this paper is to analyze the optimal water levels in the Great Lakes to meet the needs of multiple stakeholders and thus achieve sustainable development in the region. The Weight-Function-Synthesis-Optimization (WFSO) model was used in this study. By classifying the water level needs of different interest groups, their respective satisfaction functions are established, and the overall satisfaction function is formed by weighting. In addition, the quadratic polynomial function is used to fit the optimal monthly water level time series of Lake Ontario, and the fitting effect is good, fully reflecting the periodic and seasonal changes in the water level of Lake Ontario. By considering the priorities of various stakeholders, this paper defines an overall satisfaction metric, "allsa," and identifies a time series of monthly optimal water levels for Lake Ontario and beyond. The ideal water level was determined to be 74.9 meters. The study results suggest that maintaining this water level can maximize the satisfaction of ecosystems, transportation, real estate, terminals, and hydropower companies, and promote sustainable development of the region.

Þarfir netsins

Sú fallvatnsorka sem seld hefur verið til stóriðju hefur skilað óverulegum hagnaði og fyrirséð er að hún mun ekki skila verulegum hagnaði nema dregið verði úr skuldsetningu raforkufyrirtækjanna. Söluverðið er þekkt og að hluta til fast. Væntingar um að stóriðja verði leið til að styrkja iðnað í landinu og auka fjölbreytni útflutnings hafa snúist upp í andhverfu sína. Stóriðjugeirinn skapar ekki fjölda starfa og margföldunaráhrifin eru ekki mikil. Þjóðhagslseg áhrif eru mest á byggingartíma virkjananna. Niðurstaðan er að virkjun fallvatna hefur skilað litlu; orkusölu til fimm fjölþjóðafyrirtækja og óverulegum skatttekjum, utan tímabundins orkuskatts sem nú hefur verið aflagður. Fræðileg nálgun er að mestu sótt til Max Weber; annars vegar tilgátunnar um yfirburði regluveldisins, læsingu ákvarðanatöku í járnbúr, og hins vegar um að markleitin skynsemi, verkfærnin, geti umpólast þannig að leiðin verði að markmiði. Þannig hefur virkjun og orkuveita orðið að sérstakri atvinnugrein sem hefur eigin vöxt að markmiði undir yfirskini arðsemi. Yfirlýst markmið um samfélagslega ábyrgð, skyldur við nærsamfélagið og ábyrga umgengni við náttúruna eru löguð að fyrirætlunum og framkvæmd, þ.e. "heildsölu á raforku til stórnotenda innan rammaáætlunar.

THE IMPACT OF CHINA’S CARBON PLEDGE ON THE COUNTRY’S HYDROPOWER PRODUCTION: EVIDENCE FROM THE STOCK MARKET

China’s national climate goals to “peak” its carbon emissions before 2030 and to achieve “carbon neutrality” before 2060 are considered to exert a considerable impact on the country’s production of hydropower, one of the major clean energy sources. Although the existing literature provides a large number of studies on the impacts of China’s “dual carbon” climate goals, only very few studies discuss their impact on the hydropower industry. This paper selects Chinese hydropower companies listed on the country’s stock market to examine. To overcome the traditional problem of the Chow test, the Quandt–Andrews test is used to identify the structural changes in the stock market performance data of those selected companies. The analysis provides essential evidence that shows the considerable impact of China’s announcement of “dual carbon” climate goals on the country’s hydropower industry.

Cross Section of Stock Returns in Nepal

This paper investigates the significant firm-specific factors that explain the variation in cross section returns of non-financial firms listed in Nepal Stock Exchange (NEPSE). Firm size, book to market equity ratio, debt equity ratio, earning yield, cash flow yield and dividend yield have been tested to find out explanatory power on explaining variation in cross-section returns of non-financial firms. A total of 14non-financial firms has been selected for this research. Among them, 6 were hydropower companies, 3 were manufacturing companies, 2 were tourism companies and 1 was from another sector. Judgmental sampling design is implemented for sampling procedure. Sampling frame and daily stock prices are obtained from official website of NEPSE. Firm-specific accounting data is collected from annual reports of listed companies. Descriptive, correlational, and analytical research designs are used to explore the research question. A multiple linear regression model was used for data analysis and it was found that only cash flow yield and dividend yield are found to be significant predictors explaining the variation in cross-section returns of non-financial firms listed in NEPSE. Other variables such as firm size, book to market equity ratio, debt equity ratio and earning yield are found to be insignificant variables to explain variation in cross-section returns

The Interplay of Firm, Industry, and Macroeconomic Factors in the Stock Returns of the Non-Financial Sector in Nepal

This research paper focused on the impact of firm-specific, industry-specific, and macroeconomic variables as it examined the dynamics of stock returns in the Nepalese non-financial sector. The study incorporated a comprehensive analysis of existing literature, methodology, and empirical findings from various studies conducted in Nepal and other countries. Five hydropower companies were the sample of the study. Pearson correlation result showed a negative correlation with a strong inverse relationship between the tangibility of a firm's assets and its stock returns. A significant negative correlation with inflation indicates a moderate inverse relationship between the inflation rate and stock returns. Regression results showed that companies' asset tangibility significantly impacts stock return. Firm size and gross domestic product did not have a statistically significant effect on stock return. However, the inflation rate and exchange rate significantly impacted stock return. Based on the study's findings, policymakers can consider implementing measures to promote a conducive environment for stock market development. This may include improving corporate governance frameworks, enhancing transparency and disclosure requirements, facilitating investor education programs, and ensuring macroeconomic stability through sound monetary and fiscal policies.

Accounting information and stock price changes in Nepalese hydropower companies

The study aimed to examine the relationship between accounting information (earnings per share, dividend per share and book value per share) on stock price changes (volatility) in Nepalese hydro power companies. It examined the impact of dividend per share, earnings per share and book value per share on stock price changes. Out of the 51 hydropower companies listed in Nepal Stock Exchange, Butwal Power Company Limited (BPC) and Chilime Hydro Power Company Limited (CHPC) were randomly selected for the study. The study period was covered 2073/2074 to 2078/2079 and data collected through the annual reports as well as data based on the Nepal Stock Exchange. Market value per share (MVPS) was taken as dependent variable and earnings per share (EPS), dividend per share (DPS) and book value per share (BVPS) as independent variables. Multiple regression analyses was used to identify the impact of accounting information on share price changes. A positive relation was found between EPS and MVPS in both companies. However DPS and BVPS showed mixed relationship (negative and positive) with MVPS of BPC and CHPC. The EPS of BPC found positive impact on MVPS. However DPS revealed negative impact on MVPS of both companies.

Environmental reporting in the hydropower sector: analysis of EMAS registered hydropower companies in Italy

Hydropower (HP) is a key source of renewable energy, but also poses significant environmental challenges, including habitat fragmentation, hydropeaking and perturbations of flow and sediment regime. This study analyzed how Italian companies managing HP plants, and registered to the European Eco-Management and Audit Scheme (EMAS) in 2022, evaluated their sustainability and publicly disclosed related data. The analysis was based on the environmental statements (ESs) of 206 hydropower plants (29% of Italian HP production in 2019). The applied methodology involved an inventory of the plants and their categorization about technical features and the reporting of technical, environmental, and social aspects. The results of the analysis revealed that the companies rarely described the environmental state of the site, even less frequently adopting quantitative indicators. “Soil contamination”, “biodiversity”, “waste production”, “risk of environmental accidents”, “water pollution and flow management”, and “noise emissions” were the aspects considered most significant. No correlation was found among the significance of an aspect, the number of indicators used to describe the associated impacts, and the number of objectives set for reducing those impacts. “Biodiversity” was mostly described through irrelevant indicators (i.e., total site area) and 76% of the allocated budget was assigned to technical aspects without a clear connection with any environmental improvement. In particular, the specific impacts on the aquatic ecosystems were scarcely reported, mitigation measures were rarely mentioned and with few details. In conclusion, the results of the study highlight the need for specific guidelines, directed to the HP sector, for effectively reporting the environmental performances and the effectiveness of the adopted Environmental Management Systems, while providing valuable information to policymakers and researchers.

Optimization and self-dispatching of hydro-power companies in the electricity market

The deepening reform of the power system has resulted in increased competition between electricity market participants. The ADP method is applied to solve the optimal self-dispatch problem of hydro-power companies under uncertain conditions. Firstly, according to the characteristics of hydropower generation technology and self-dispatching, the operation model of hydropower is given. Then, according to the organization and trading behavior of the forward contract market and day-ahead market, a medium and long-term contract quantity decision framework based on stochastic programming is given. Based on the stochastic programming decision framework, the ADP method is used to solve the generation and water decisions in each stage, and the distribution strategy of the electricity quantity of forward transactions and day-trading electricity quantity is obtained. Finally, an example is given to demonstrate the effectiveness of the proposed model and ADP method.

Design of Data Classification and Classification Management System for Big Data of Hydropower Enterprises Based on Data Standards

The advent of the era of big data has had a great impact on traditional management methods, and companies have also begun to make changes. The management approach has changed from initially focusing on business development to now focusing on user experience and putting people first. The data standard classification management system is a system for management and analysis based on the database. Therefore, this article is based on data standards, taking hydropower companies as an example, to design and research the data classification management system to promote the operation and safety of hydropower companies. This article mainly uses the experimental method, data collection method, and algorithm analysis method to thoroughly understand and explore the content of this article. The experimental results show that the testability of this article can basically reach the general level, and the delay time of the system does not exceed 10 seconds, which can be applied to the company.

The Influence of Intra-Day Non-Uniformity of Operation of Large Hydroelectric Powerplants on the Performance Stability of Water Intakes Located in Their Upper Pools

The creation of reservoirs in water streams leads to significant changes in the hydrological regime of water bodies: it allows smoothing the peaks of maximum water discharge during a flood period and regulating low-water flow. The creation of reservoirs with significant storage capacity makes it possible to solve a wide range of water-management problems, including the use of falling water energy for hydropower purposes, and maintenance of the uninterrupted water supply and navigation. Since constructed dams are usually operated by hydropower companies, the regulatory regime for the discharge of water into the lower pool is often determined by the daily electricity consumption regime. Intra-day variations in the volume of water discharges through hydroelectric power stations generate multidirectional streams in the upper pool, which can affect the operation of other water withdrawal systems. This paper considers the effect of intraday variations in water discharges into the lower pool on the dynamic and physical properties of the water mass in the region of the location of drinking water-intake heads of Perm city and the quality of the withdrawn water.

The future of Swiss hydropower: how to distribute the risk and the profits?

Low electricity prices put economic pressure on hydropower companies. A more flexible water fee design can counteract this pressure and support hydropower companies during times when market revenues are low. However, this comes at the cost of lower revenues for resource owners. Using a sample of cost data for 62 companies and revenue data derived from an electricity market model, we have quantified this trade-off for the case of Switzerland. We found that electricity market price developments dominate changes in water fees and that for the profitability of hydropower, electricity prices are more important than water fee levels. However, with electricity prices of around CHF 40 per MWh, water fees can make the difference between profit and loss. Therefore, while flexible water fee regimes shift the market risk from producers to resource owners to some extent, the extent of this risk shift depends on the detailed design of the flexible regime.

Canadian historical Snow Water Equivalent dataset (CanSWE, 1928–2020)

Abstract. In situ measurements of water equivalent of snow cover (SWE) – the vertical depth of water that would be obtained if all the snow cover melted completely – are used in many applications including water management, flood forecasting, climate monitoring, and evaluation of hydrological and land surface models. The Canadian historical SWE dataset (CanSWE) combines manual and automated pan-Canadian SWE observations collected by national, provincial and territorial agencies as well as hydropower companies. Snow depth (SD) and bulk snow density (defined as the ratio of SWE to SD) are also included when available. This new dataset supersedes the previous Canadian Historical Snow Survey (CHSSD) dataset published by Brown et al. (2019), and this paper describes the efforts made to correct metadata, remove duplicate observations and quality control records. The CanSWE dataset was compiled from 15 different sources and includes SWE information for all provinces and territories that measure SWE. Data were updated to July 2020, and new historical data from the Government of Northwest Territories, Government of Newfoundland and Labrador, Saskatchewan Water Security Agency, and Hydro-Québec were included. CanSWE includes over 1 million SWE measurements from 2607 different locations across Canada over the period 1928–2020. It is publicly available at https://doi.org/10.5281/zenodo.4734371 (Vionnet et al., 2021).

Experience in application of modern technologies of measuring the structure of currents in the upstream waters of large hydroelectric complexes (on the example of the Kama HPP)

The creation of reservoirs on watercourses leads to significant changes in the hydrological regime of water bodies: it allows to smooth out the peaks of maximum water discharge during the flood period and to regulate low runoff. The reservoirs with a significant storage capacity enable to solve a wide range of water management problems, among which are: using the falling water energy for hydropower purposes, ensuring uninterrupted water supply and navigation. In view of the fact that dams are generally managed by hydropower companies, the regime for regulating downstream water mass discharges is often determined by the schedule of daily electricity consumption. Intraday changes in the volume of water discharge through the hydroelectric units of hydroelectric power plants form multidirectional flows in the upstream, which can affect the work of other water users. This paper examines the impact of intraday changes in flow rates of downstream water discharges on the dynamic and physical properties of the water mass in the area of the drinking water intake heads of the city of Perm.

Sacrificing the local to support the national: Politics, sustainability, and governance in Nepal’s hydropower paradox

Developing run-of-the-river (ROR) hydropower can pose a sustainability paradox. The paradox can occur when countries prioritize hydropower development to achieve national-level sustainable development targets while failing to include project-affected communities in planning processes. This research developed a comparative study examining the ways social and political relations were articulated between hydropower companies and project-affected communities across 12 ROR hydropower sites in the Gandaki River basin of Nepal. The study details how the introduction of hydropower can feasibly offer local communities coveted benefits such as increased water and electricity access and availability. Outcomes of ROR hydropower development, however, were not uniform across study sites and spatially uneven development was manifest. Consequently, many of Nepal’s ROR hydropower projects exacerbate social and political inequalities in Nepal’s mountain river basins, which in turn fuel hydropower driven conflicts. Drawing on theories of global change, energy justice, and political ecology, this research highlights opportunities currently being neglected in Nepal to bring local communities into processes linked to national sustainable development goals and targets and to address injustices embedded in the development of ROR hydropower resources.

Research on clean energy development strategy of China Three Gorges Corporation based on SWOT framework

China Three Gorges Corporation (CTGC) is China's largest clean energy company and one of the world's leading hydropower companies. In the process of building itself into a “world-class clean energy group”, the company is faced with such disadvantages as lack of project experience in the new energy industry, relative shortage of human resources, and shortage of technology reserves for the new energy industry. The company also faces threats from potential competitors in the clean energy industry, the international environment, seasonal constraints, capital markets and other factors. An enterprise development strategy assessment is needed. This paper uses the SWOT method to analyze the fit between the enterprise's current situation and development goals from six aspects, including opportunities, threats, advantages and disadvantages. A quantitative evaluation index system of internal environment and external environment factors is established, and the advantages and disadvantages of enterprise development environment are determined by constructing an evaluation matrix. The comprehensive study shows that in order to realize the vision of “becoming a first-class clean energy group”, the enterprise should change from the conservative progressive development mode to the expansive development strategy mode.

Nexus between Capital Structure and Financial Performance of Nepalese Hydropower Companies

This study aims to shed light on the empirical investigation of the nexus between capital structure and financial performance. This paper focuses on hydropower companies listed on Nepal Stock Exchange (NEPSE) until mid-July 2020. This paper analyzes the nexus of capital structure with the financial performance of hydropower companies for the period 2005/06 to 2019/20. This study applies a descriptive and causal research design. Return on equity (ROE) is used to measure financial performance and is considered a dependent variable and short-term debt to capital (SDC), long-term debt to capital (LDC), total debt to capital (TDC), and debt to assets (DR) ratios are the measures of capital structure and used as explanatory variables. This paper reveals that short-term debt to capital ratio has a positive role in financial performance. Moreover, the findings of this paper depict that long-term debt to capital and total debt to capital has a significant positive impact on the financial performance of hydropower companies in Nepal. However, the debt to asset ratio inversely affects financial performance. Thus, this paper concludes that Nepalese hydropower companies should increase short-term, long-term, and total debt to capital ratios and decrease debt to assets to maximize financial performance. The implication of this study is in the formulation of optimal capital structure policy. The hydropower sector can apply the findings of this paper to formulate an appropriate capital structure policy to maximize its financial performance in Nepal.

Stakeholder Perceptions on the Governance of Fisheries Systems Transformed by Hydroelectric Dam Development in the Madeira River, Brazil

Hydroelectric dams often have significant impacts on freshwater fisheries. Major impacts are known to be driven by changes in river hydrology and fish ecology, but the role of governance arrangements in mitigating or exacerbating fisheries impacts from hydropower development is less understood. This study presents an analysis of stakeholder perceptions about the effects of hydroelectric dam implementation on fisheries governance arrangements in the Madeira River basin, Brazil. Semi-structured interviews were conducted with 50 stakeholders representing the fishers and fish traders, government, non-governmental organizations, and the private sector. Fishers, non-governmental, and private sector agents perceived hydropower development to be the strongest factor driving fisheries decline or change over the past 10 years, while government staff perceived overfishing to be an equally or even more important factor. Most stakeholders affirmed that fisheries governance arrangements have weakened in the face of hydropower development, and that these arrangements have been insufficient to effectively mitigate or compensate for negative impacts on fisheries. Fishers, non-governmental and private sector agents saw lack of opportunities to participate in fisheries governance as a major contributing factor, while government staff emphasized lack of qualified personnel, lack of trust between agencies, and control over the decision-making process held by hydropower companies. Perspectives on other implications of governance arrangements were shared across stakeholder groups. These included increased conflicts; lack of interaction and coordination between agencies; the fragility of fishers’ social organization; lack of trust and reciprocity between organizations; and power imbalances between stakeholders. The results show that hydropower development impairs and changes relationships between diverse players involved in fisheries governance, which can exacerbate existing weaknesses and negatively affect fishery sustainability. Drawing from the perspectives and comments of the various stakeholders who participated in the study, we provide recommendations to improve freshwater fisheries governance in the Madeira River basin and in the Brazilian Amazon.

Governance of Water in Southern Chile: An Analysis of the Process of Indigenous Consultation as a Part of Environmental Impact Assessment

The management and organization of water resources shapes complex territorial scenarios. This is seen in south-central Chile, where the construction of hydropower plants in Indigenous territories has strained relations between the state, the Mapuche people and hydropower companies. We analyze the Indigenous consultation process to identify the relations between actors and the role of state institutions to evaluate the extent to which these facilitate collective action. Using a case study methodology and qualitative analysis, we identify challenges to water governance, which relate to the degree of heterogeneity of communities; power inequalities within the consultation process and their influence on structures of decision-making.

The dynamic relationship between stock returns and trading volumes in Nepalese stock market

In finance, the relationship between stock returns and trading volume has been the subject of extensive research over the past years. The main motivation for these studies is the central role that trading volume plays in the pricing of financial assets when new information comes in. As being interrelated and interdependent subjects, a study regarding the trading volume and stock returns seem to be vital. It is a well-researched area in developed markets. However, very few pieces of literature are available regarding the Nepalese stock market that explores the association between trading volume and stock return. Realizing this fact, this paper aims to examine the empirical relationship between trading volume and stock returns in the Nepalese stock market using time series data. The study sample is comprised of 49 stocks traded on the Nepal Stock Exchange (NEPSE) from mid-July 2011 to mid-July 2018. This study examines the Granger Causality relationship between stock returns and trading volume using the bivariate VAR model used by de Medeiros and Van Doornik (2008). The study found that the overall Nepalese stock market does not have a causal relationship between trading volume and return on the stock. In the case of sector-wise study, there is a unidirectional causality running from trading volume to stock returns in commercial banks and stock returns to trading volume in finance companies, hydropower companies, and insurance companies. There is no indication of any causal effect in the development bank, hotel, and other sectors. This study also finds that there is no evidence of bidirectional causality relationships in any sector of the Nepalese stock market.

Ensemble hydrological forecasts for reservoir management of the Shipshaw River catchment using limited data

Many hydropower companies continue to rely on expert judgment to manage the operations of their reservoirs. Decision-support systems, composed of a hydrological forecasting system and a reservoir model, can ensure that reservoir operation objectives are attained more effectively than by relying solely on expert judgment. In this study, a simple ensemble inflow forecasting system coupled with a reservoir model is developed and the proposed model-based operational water management decisions are compared with those based on expert judgment for the Shipshaw River in Quebec, Canada. Given that no natural streamflow records are available for the Shipshaw River, the HEC-HMS hydrological model is calibrated using a regionalization method based on physical similarity. The calibrated hydrological model is fed by ensemble meteorological forecasts that include 20 members, with a 10-day horizon and a 6-hour time step. The proposed decision-support system can help avoid small flooding events while potentially improving energy production by 2 to 60% for this case study. The proposed forecasting system also allows water-resource managers to anticipate events with a greater lead time.