Energy resource endowments - PROMETHEUS

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In PROMETHEUS model, energy supply is linked to energy consumption via trade across the ten regions identified in the model:

  • Oil: all oil producers export to single global market "pool", identifying one global market for crude oil
  • Gas: trade and price dynamics are modelled focusing on core regional gas markets (e.g. Europe, the USA, Asia/Japan, LNG). The gas markets are modelled to capture rents and other mark-up costs to reflect different formulations of the gas market, ranging from long-term contracts (Japan), to gas-to-gas competiton (USA) and their combination (Europe). Import gas prices in each region depend on the evolution of international gas price and the cost of gas extraction and transport from the most important producing regions (mark-up cost).
  • Coal: trade and price dynamics are modelled focusing on three core markets (e.g. Europe, China, Asia)
  • Biofuels and biomass: regional-specific cost-supply curves
  • Uranium: single global supply cost curve
  • Renewable electricity (hydro, solar, wind): country-specific renewables potentials for power generation to cover domestic electricity demand

Alert-warning.png Note: The documentation of PROMETHEUS is 'under review' and is not yet 'published'!

Model Documentation - PROMETHEUS

Corresponding documentation
Previous versions
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Model information
Model link
Institution E3Modelling (E3M), Greece,
Solution concept Partial equilibrium (price elastic demand)
Solution method Simulation
Anticipation Energy system simulation.Foresight is included only is some sub-modules (i.e. electricity generation)