Trade - TIAM-UCL

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Model Documentation - TIAM-UCL

Corresponding documentation
Previous versions
Model information
Model link
Institution University College London (UCL), UK,
Solution concept Partial equilibrium (price elastic demand)
Solution method Linear optimisation
Anticipation Perfect Foresight

(Stochastic and myopic runs are also possible)

Energy Trade

Regional trade is modelled in the trade module. In the current version of TIAM-UCL, regional trade is allowed for coal, natural gas, LNG, natural gas liquid, uranium oil and oil products such as heavy fuel oil, gasoline, naphtha, diesel, energy crops and solid biomass. Emission trading under cap-and-trade policy is also modelled and the level of trading can be constrained. Trading in the base-year 2005 is calibrated to the actual energy import and export data. Base-year energy trade (import and export of fossil resources) for the UK is taken from DUKES (2010).

Table 2-3: Resources traded in the 16 region TIAM-UCL global model

Crude oil
Hard coal
Natural gas
Heavy fuel oil
Natural gas liquid
Distillates (diesel)
Liquefied natural gas
Emissions permits