Capros P., P. Karadeloglou and G. Mentzas (1990) "The MIDAS Energy Model and the MIDAS-HERMES Linked System"
Paper presented at the Workshop on Economic/Energy/Environmental Modelling for Climate Policy Analysis, organized by the MIT and the University of Tokyo, October 22-23, Washington DC.
MIDAS is a large-scale system of country-specific energy models for medium-term energy planning developed for European countries under the auspices of CEC/DGXII. MIDAS is a simulation model used for scenario analysis; each national application of MIDAS is a simultaneous system of about 2000 equations solved dynamically over a period of 10 years. The energy demand sub-model is a forecasting econometric system and uses relative energy prices to estimate energy demand and fuel substitutions by sector, at a disaggregated level. The energy supply sub-models combine econometrics with process analysis in formulating the energy supply behaviour. Energy prices are evaluated mainly as a function of supply costs, but they are also influenced by supply/demand disequilibrium pressures. The supply side consists of five interconnected sub-models, namely electricity generation, petroleum refining, natural gas and synthetic gas production and distribution, coal mining and coke-oven plants. The paper also gives a short description of the linkage of MIDAS to the macroeconomic model HERMES and preliminary results of a application of the linked model set to the analysis of carbon-tax issues related to the reduction of CO2 emissions.
Paper available on request (hard copy only)
