Thomas Walther is awarded the 2022 Campbell Watkins Energy Journal Best Paper Award

The International Association for Energy Economics (IAEE) selected the work “Stranded Asset Risk and Political Uncertainty: The Impact of the Coal Phase-Out on the German Coal Industry” as the best paper published in The Energy Journal in 2022. The study is co-authored by Miriam Breitenstein, Carl-Philipp Anke, Duc Khuong Nguyen, and Thomas Walther and builds upon Miriam Breitenstein’s diploma thesis written at our chair. Every year since 1989, the IAEE honors the most outstanding paper of all studies published in The Energy Journal during the previous year.

Using a Monte Carlo simulation, the authors estimate the value of all stranded assets resulting from the closure of coal-fired power plants until 2038 at a total of EUR 2.6 billion. In addition, EUR 11.6 billion in stranded assets would be created if the coal phase-out were to be completed as early as 2030 - as frequently called for to achieve the climate targets. In their study, the authors also discuss the immediate impact on the share prices of affected firms.

Link to the award announcement: https://www.iaee.org/en/inside/award-watkins.aspx

Link to the paper (open access): https://www.iaee.org/energyjournal/article/3876