Research


PUBLICATIONS

  • Tulloch, D.J. (forthcoming, 2018) ‘Power generation: Coal, gas and nuclear’, In: Caldecott, B. Stranded Assets and the Environment: Risk, Resilience, and Opportunity, Routledge.
  • Tulloch, D.J., Diaz-Rainey, I., Premachandra, I.M. (2017) ‘The impact of regulatory change on EU energy utility returns: the three liberalization packages’, Applied Economics (forthcoming), DOI: 10.1080/00036846.2017.1346366
  • Tulloch, D.J., Diaz-Rainey, I., Premachandra, I.M. (2017) ‘The Impact of Liberalization and Environmental Policy on the Financial Returns of European Energy Utilities’, The Energy Journal, 38(2), pp. 77-106.
  • Tulloch, D.J. (2016). ‘The Impact of Risk Factors and Regulatory Change in the Returns of European Energy Utilities’ (Thesis, Doctor of Philosophy). University of Otago. Retrieved from http://hdl.handle.net/10523/6665
  • Diaz-Rainey, I., Finegan, A., Ibikunle, G., Tulloch., D.J. (2014) ‘Institutional Investment in the European Union Emissions Trading Scheme’, In: Hawley, J., Hoepner, A., Johnson, K., Sandberg, J., Waitzer, E. (Eds.), Cambridge Handbook of Institutional Investment and Fiduciary Duty, Cambridge University Press & UN Principles for Responsible Investment (With foreword by Al Gore).

PUBLISHED TECHNICAL REPORTS

  • Caldecott, B., Tulloch, D.J., Bouveret, G., Pfeiffer, A., Kruitwagen, L., McDaniels, J., Dericks, G. (2017) ‘The fate of European coal-fired power stations planned in the mid-2000s: Insights for policymakers, companies, and investors considering new coal’ Sustainable Finance Programme, SSEE, Univ. Oxford pp.1-87.
  • Caldecott, B., Dericks, G., Tulloch, D.J., Liao, X., Kruitwagen, L., Bouveret, G., Mitchell, J. (2017) ‘Stranded Assets and Thermal Coal in China: An analysis of environment-related risk exposure’ Sustainable Finance Programme, SSEE, Univ. Oxford pp.1-116.
  • Caldecott, B., Bouveret, G., Dericks, G., Kruitwagen, L., Tulloch, D.J., Laio, X. (2017) ‘Managing the political economy frictions of closing coal in China’ Sustainable Finance Programme, SSEE, Univ. Oxford pp.1-46.
  • Tulloch, D.J., Diaz-Rainey, I., Premachandra, I.M., (2016) ‘Risk Factors in Energy Utility Returns: An Augmented-Four-Factor Model’, Newsletter of the European Centre for Energy and Resource Security (EUCERS), Issue 55 (June), pp. 2-5.
  • Morel, A., Friedman, R., Tulloch, D.J., Caldecott, B. (2016) ‘Stranded Assets in Palm Oil Production: A Case Study of Indonesia’, Stranded Assets Program. SSEE, Univ. Oxford 1–78.
  • Caldecott, B., Dericks, G., Tulloch, D.J., Kruitwagen, L., Kok, I. (2016) Stranded Assets and Thermal Coal in Japan: An analysis of environment-related risk exposure. Stranded Assets Program. SSEE, Univ. Oxford 1–107.
  • Caldecott, B., Kruitwagen, L., Dericks, G., Tulloch, D.J., Kok, I., Mitchell, J. (2016) Stranded Assets and Thermal Coal: An analysis of environment-related risk exposure. Stranded Assets Program. SSEE, Univ. Oxford 1–188.

PUBLISHED IN WORKING PAPER SERIES

  • Tulloch, D.J., Caldecott, B., (2016) ‘Current and Future Challenges Facing the EU energy System’. USAEE Working Paper Series 16(261). Available on SSRN.
  • Diaz-Rainey, I., Tulloch, D.J., (2015) ‘Carbon Pricing in New Zealand’s Emission Trading Scheme’. USAEE Working Paper Series 16(255). Available on SSRN.
  • Tulloch, D.J., Diaz-Rainey, I., Premachandra, I.M. (2014) ‘The Impact of Liberalization and Environmental Policy on Financial Risk-Return Profiles of European Energy Utilities’, USAEE Working Paper Series 14(183). Available on SSRN.
    • Published 2017 in The Energy Journal.
    • Awarded “Best PhD Presentation” at OERC (2014).
  • Diaz-Rainey, I., Finegan, A., Ibikunle, G., Tulloch, D.J., (2012) ‘Institutional Investment in the EU ETS’. Tyndall Centre for Climate Change Working Paper 156. Available on SSRN.
    • Published 2014 in Cambridge Handbook of Institutional Investment and Fiduciary Duty.

WORKS IN PROGRESS

  • Pfeiffer, A., Vogt-Schilb, A., Tulloch, D.J., Hepburn, C. ‘Implicit stranded assets in leading IPCC scenarios’
  • Tulloch, D.J., Diaz-Rainey, I., Premachandra, I.M., ‘Local risk factors and time-varying risk premia in sector asset pricing’
  • Tulloch, D.J., Diaz-Rainey, I., Premachandra, I.M., ‘Market efficiency in a protracted and complex legislative procedure’
  • Tulloch, D.J., Diaz-Rainey, I., Premachandra, I.M., ‘Examining the impact of liberalization and decarbonization on the operating performance of European energy utilities.’
  • Tulloch, D.J., Diaz-Rainey, I., Premachandra, I.M., ‘Asymmetric Information and Asset Pricing following Regulatory Change: The Case of European Energy Utilities’.
    • This paper has benefited from useful comments from Prof. Henk Berkman and Prof. Ron Bird.
  • Diaz-Rainey, I., Tulloch, D.J. ‘Financial Risk, Innovation and Alternative Pathways to Decarbonising the Energy System in 2050’, Proceedings of ISPIM/Tudor Innovation for Financial Services Summit.

AWARDS AND NOMINATIONS

2017 – Electricity Authority’s Values Award
2017 – European Commission Horizon 2020 MSCA Seal of Excellence
2015 – Awarded rank of Outstanding Reviewer from Elsevier (top 10%).
2014 – Best PhD Presentation from OERC Symposium.
2014 – Alan MacGregor Prize from the Department of Accountancy & Finance, Otago.
2013 – Inclusiveness in Teaching Award nomination, OUSA teaching awards.

PRESENTATIONS

2017 – Electricity Authority
2016 – Guest Lecture – KPMG, New Zealand (30th September)
2016 – Guest Lecture – The Treasury, New Zealand (27th September)
2016 – Guest Lecture – University of Oxford Smith Summer School (18th July)
2016 – Guest Lecture – Institute of Accounting, Control and Auditing, University of St Gallen, Switzerland (12 May)
2015 – Departmental Seminar Series, Dunedin, New Zealand (1st April).
2015 – 19th New Zealand Finance Colloquium, Hamilton, New Zealand (18th February).
2014 – 8th Otago Energy Research Centre Symposium (28th November).
• Awarded “Best PhD presentation”.
2014 – Departmental Seminar Series, Dunedin, New Zealand (22nd August).
2013 – Departmental Seminar Series, Dunedin, New Zealand (28th August).
2013 – 17th New Zealand Finance Colloquium, Dunedin, New Zealand (7th February).
2012 – 9th International Conference for the European Energy Market, Florence, Italy (12th May).
2011 – Doctoral Colloquium, Norwich Business School, UEA, Norwich, UK (28th October).
2011 – UK Energy Research Centre Sparks Symposium, Kensington, UK (20th October).
2011 – PhD Transfer Panel, Norwich Business School, UEA Norwich, UK (5th October).

REVIEWING

Ranked as an Outstanding Reviewer for Energy Policy (ABS 2; ABDC A), placing me in the top 10%. Below is a list of topics I have reviewed:

2017 – Innovation and Development
2016 – Market Power and Electricity Prices
2016 – EU Energy Security
2016 – Support for renewables
2016 – Ground transportation fuel
2015 – Investor’s responses to commodities
2015 – Market power and electricity generators
2013 – Uncertainty in carbon emission allowances
2013 – Regulatory uncertainty in certificate markets
2013 – Energy production in emerging economies
2013 – European electricity prices
2013 – Ground transportation fuels
2013 – Carbon allowance auctions
2013 – Household power consumption
2012 – Promoting renewable generation
2012 – Natural gas determinants
2012 – Hydroelectricity generation
I have worked alongside my supervisor, Dr. Ivan Diaz-Rainey, to review
an additional three papers for Energy Policy (ABS 2; ABDC A), Energy Journal (ABS 3; ABDC A), and International Journal of Global Energy Issues (ABDC C).

FUNDING

KEY: PI = Principal investigator, RA = Research Associate/assistant

  • 2016 – GBP £6,170 (PI) Oxford University’s John Fell OUP Research Fund
    • EU Energy Network Planning Software
  • 2016 – GBP £12,900 (RA) City of London
    • State of Green Finance Survey
  • 2015 – EUR €2,172,991 (RA) Horizon 2020 – European Commission
    • Energy Transition Risk
  • 2014 – NZD $2,500 (RA) OERC Seed Grant
    • New Zealand’s Emission Trading Scheme
  • 2012 – NZD $60,000 (PI) Otago Business School Dean’s Scholarship
    • PhD Scholarship
  • 2010 – GBP £3,732 (PI) Norwich Business School
    • Studentship
  • 2009 – GBP £2,000 (PI) Norwich Business School
    • Masters of Science Studentship