Macro-economy - TIAM-UCL
| Corresponding documentation | |
|---|---|
| Previous versions | |
| Model information | |
| Model link | |
| Institution | University College London (UCL), UK, https://www.ucl.ac.uk. |
| Solution concept | Partial equilibrium (price elastic demand) |
| Solution method | Linear optimisation |
| Anticipation | Perfect Foresight
(Stochastic and myopic runs are also possible) |
There is no explicit consideration of the economy or any economic sectors
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. Traded fuel and respective TIAM-UCL code is provided in Table 2-3. 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 16R TIAM-UCL global model
| Resource |
| Crude oil |
| Hard coal |
| Natural gas |
| Heavy fuel oil |
| Naphtha |
| Gasoline |
| Natural gas liquid |
| Distillates (diesel) |
| Liquefied natural gas |
| Uranium |
| Biomass |
| Bio-Fuels |
| Emissions permits |