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Regulation and Investments in Energy Markets

Regulation and Investments in Energy Markets Book
Author : Alessandro Rubino,Ilhan Ozturk,Veronica Lenzi,Maria Teresa Costa Campi
Publisher : Academic Press
Release : 2015-12-02
ISBN : 0128044764
Language : En, Es, Fr & De

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Book Description :

Regulation & Investments in Energy Markets: Solutions for the Mediterranean presents the status of advancement and maturity of the Mediterranean energy policy, identifying patterns of development as well as lessons learned. Mediterranean countries are facing unprecedented challenges in the energy sector which affect the entire region. Energy policy and regulation is the key to tackling energy efficiency challenges, and providing favorable conditions for engineering infrastructures, investments, and improving security of energy supply. The assumption that the normative model, on which the EC energy policy is based, could be adopted outside EU boundaries has proven to be difficult to implement. This book looks at the Mediterranean regions search for a revised model for regulatory convergence and provides answers to those research questions, allowing the reader to understand the different technical, institutional, and financial frameworks for energy policy. Contains a detailed overview of the specificities and institutional frameworks, giving greater clarity on existing energy practice Provides recommendations and contributions from leading scholars and key players in energy policy research Presents information from a region wide interdisciplinary approach based on specific industry information

Energy Markets Investment Competition and Regulation

Energy Markets   Investment  Competition  and Regulation Book
Author : Arbeitsgemeinschaft Deutscher Wirtschaftswissenschaftlicher Forschungsinstitute. Mitgliederversammlung
Publisher : Unknown
Release : 2007
ISBN : 9783428126330
Language : En, Es, Fr & De

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Book Description :

Main description: This supplement to Applied Economics Quarterly reports on the 70th Annual Meeting of the Association of German Economic Research Institutes (ARGE-Institute), which took place in Berlin on April 19, 2007. The topic was "Energy Markets - Investment, Competition, and Regulation."Energy markets pose a major challenge for the economy, politics, and society: the entire structure of power generation is on the verge of a fundamental renewal. By dealing with the important current question of how regulation will affect investments in generation and transmission capacities within liberalized electricity and gas markets, the conference offered useful contributions for policy advice to the federal government. Keynote speaker Carl Christian von Weizsäcker discussed investments in energy markets, while Jean Michel Glachant, the second keynote speaker, considered the choice between a "Vibrant European Market and Industry or a Bunch of National Energy Champions." The other lectures focused on alternative strategies for renewable energies, biofuels as a climate policy strategy, as well as innovation, competition, and asymmetric strategic investment. From the editorial by Wolfgang Franz / Rainer Winkelmann / Klaus F. Zimmermann

Regulation of Energy Markets

Regulation of Energy Markets Book
Author : Machiel Mulder
Publisher : Springer Nature
Release : 2020-10-16
ISBN : 3030583198
Language : En, Es, Fr & De

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Book Description :

This textbook explains the main economic mechanisms behind energy markets and assesses how governments can implement policies to improve how these markets function. Adopting a micro-economic perspective, the book systematically analyses the various types of market failures on the electricity and gas markets as well as coal, oil, hydrogen and heat markets to identify government policies that can improve welfare. These shortcomings include the natural monopoly and the public-good character of energy infrastructures; market power resulting from inflexibility of supply and demand; international trade restrictions; negative externalities concerning the use of fossil energy; positive externalities concerning innovative new energy technologies; information asymmetries with regard to the product characteristics of energy commodities; and other public concerns, such as energy poverty. In turn, readers will learn about various measures that governments can use to address these market failures, including incentive regulation for electricity grids; international integration of wholesale energy markets; environmental regulatory measures like emissions trading schemes; subsidy schemes for new technologies; green-energy certificate schemes; and energy taxes. Given its scope, the book will appeal to upper-undergraduate and graduate students from various disciplines who want to learn more about the economics and regulation of energy systems and markets.

Investing in EU Energy Security

Investing in EU Energy Security Book
Author : Henrik Bjørnebye
Publisher : Kluwer Law International B.V.
Release : 2010-08-27
ISBN : 9041137696
Language : En, Es, Fr & De

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Book Description :

The author of this timely and sharply focused book shows that, in the light of our current knowledge, ensuring new investments – and the right investments – in electricity generation constitutes an urgent energy policy challenge facing the EU over the coming decades. He accordingly makes the case for a serious reconsideration of the market facilitation and market intervention rules under electricity market legislation in the EU. In the first detailed legal analysis of the EU’s internal electricity market framework for investments in electricity generation facilities from the perspective of security of supply, this book cover such legal issues as the following in precise detail: applicability of the Treaty on the Functioning of the European Union (TFEU); security of supply as a ground for exemption on the basis of public security; justifications of public intervention; the applicability of EU State aid provisions to investments in energy security; requirements imposed by EU law on Member States for ensuring cost-efficient investments in European supply security; facilitation of renewable energy sources and cogeneration in the environmental interest; the Court of Justice’s approach to Member State interventions; the Court’s decisions on restrictions on free movement in the environmental interest; Member States’ right to launch tendering procedures for new generation capacity; Member States’ right to impose public service obligations in the general economic interest on certain undertakings; and relationship between the provisions of the TFEU and those of the Euratom Treaty in relation to investments in nuclear power generation. Throughout the study, in addition to his analysis of the decisions of the Court of Justice and the Court of First Instance, the author takes into account legal literature and Union reports, preparatory works, and working papers. The book demonstrates convincingly that today’s energy supply challenges must be based on a broader balancing of security, competitiveness and sustainability interests. It suggests that the internal electricity market provisions of the Electricity Directive and the Security of Electricity Supply Directive would benefit from focusing more intensely on requiring investments in technologies and primary energy sources that will help mitigate climate change and reduce European energy import dependency, and less on the need for ensuring cost-efficient investments through market-based means

Main Reasons of the Energetical Reforms in European Union in the Context Legal Regulation of Economic Globalization

Main Reasons of the Energetical Reforms in European Union in the Context Legal Regulation of Economic Globalization Book
Author : Mariia Rubtcova
Publisher : Unknown
Release : 2018
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

The paper is devoted to the problem of regulation of European Union energy market in the context of energetical reforms in European Union. One of the main prerequisites of the internationalization of legal regulation of European Union energy market is economic globalization (Dmitrieva, Lukashuk, 2006, p.235). In the modern period the creation of common (international) gas, oil and electricity markets is actively developed. It became possible due to large-scale reforms in the energy sector, which have been actively conducted all over the world since the end of the XXth century. The main reasons of the energetical reforms are the following: the problem of lack of full competition in these industries, which led to the lack of investments; the shortage of energy resources; decreasing of reliability of energy. We made the conclusion that the main objectives of the current energy reforms are the opening of energy resources' markets for competition and attracting investment.

Regulations in the Energy Industry

Regulations in the Energy Industry Book
Author : André Dorsman,Özgür Arslan-Ayaydin,James Thewissen
Publisher : Springer Nature
Release : 2020-02-12
ISBN : 3030322963
Language : En, Es, Fr & De

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Book Description :

This book provides a broad overview of the financial, economic and legal implications of energy industry regulations in various countries. In light of significant changes around the globe, it analyses various institutions that are involved in regulative measures, and based on various country studies, it offers insights into how energy sector regulations differ across countries with different market structures and institutions. Covering major topics such as laws and regulations geared to market competition and sustainability and the impact of noncompliance to regulations, from the perspectives of financial markets, and financial risks, the book is divided into four parts: Part I Regulations: price and trade controls; Part II. Non-price & trade control regulations; Part III: Compliance with regulations; and Part IV: Market issues and regulation. It will appeal to scholar in economics, finance and related fields as well as to policymakers and practitioners in the energy industry. This is the seventh volume in a series on energy organized by the Centre for Energy and Value Issues (CEVI). The previous volumes in the series were: Financial Aspects in Energy (2011), Energy Economics and Financial Markets (2012), Perspectives on Energy Risk (2014), Energy Technology and Valuation Issues (2015), Energy and Finance (2016) and Energy Economy, Finance and Geostrategy (2018).

Legal and Regulatory Framework of European Energy Markets

Legal and Regulatory Framework of European Energy Markets Book
Author : Cansu D. Burkhalter
Publisher : Tectum Wissenschaftsverlag
Release : 2020-03-18
ISBN : 3828874401
Language : En, Es, Fr & De

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Book Description :

Since the beginning of the 1990s, Europe has been struggling to establish a competitive as well as a fully integrated internal energy market. Until the early 1990s, the European energy markets consisted of national monopolies possessing vertically integrated structures. They were also still nationally segregated. Since, the EU has made the decision to open European energy markets to competition and subsequently establish an internal energy market. The European energy markets are currently controlled by a dual structure consisting of two different regulatory frameworks: competition law and sector-specific regulations. The primary goal of these legal instruments is the establishment of an internal energy market. This book aims at analysing the development of the European energy markets and policies from the perspective of competition law as well as sector-specific regulations and, hence, identifying the problems regarding the introduction of competition into the energy markets.

The Global Energy Transition

The Global Energy Transition Book
Author : Peter D Cameron,Xiaoyi Mu,Volker Roeben
Publisher : Bloomsbury Publishing
Release : 2021-01-14
ISBN : 150993250X
Language : En, Es, Fr & De

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Book Description :

Global energy is on the cusp of change, and it has become almost a truism that energy is in transition. But what does this notion mean exactly? This book explores the working hypothesis that, characteristically, the energy system requires a strategy of the international community of states to deliver sustainable energy to which all have access. This strategy is for establishing rules-based governance of the global energy value-cycle. The book has four substantive parts that bring together contributions of leading experts from academia and practice on the law, policy, and economics of energy. Part I, 'The prospects of energy transition', critically discusses the leading forecasts for energy and the strategies that resource-rich countries may adopt. Part II, 'Rules-based multilateral governance of the energy sector', details the development and sources of rules on energy. Part III, 'Competition and regulation in transboundary energy markets', discusses principal instruments of rules-based governance of energy. Part IV, 'Attracting investments and the challenges of multi-level governance', focuses on the critical governance of the right investments. This book is a flagship publication of the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee. It launches the Hart series 'Global Energy Law and Policy' and is edited by the series general editors Professors Peter D Cameron and Volker Roeben, and also Dr Xiaoyi Mu.

Multi dimensional Risk and Investment Return in the Energy Sector

Multi dimensional Risk and Investment Return in the Energy Sector Book
Author : Peter Rabensteiner
Publisher : Haupt Verlag AG
Release : 2013
ISBN : 325807805X
Language : En, Es, Fr & De

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Book Description :

Die vorliegende Dissertation untersucht die kapitalbezogenen Aspekte von Investitionen im regulierten Energiesektor, wobei der Fokus auf dem elektrischen Übertragungsnetz liegt. Eine grundlegende Prämisse ist hierbei die "Endogenität des Risikos," wonach das Risikoprofil einer regulierten Investition von den Spezifikationen des regulatorischen Marktdesigns abhängt, durch welches stochastische Kosten und Einnahmen unter den beteiligten Stakeholdern - den Investoren, Konsumenten und Steuerzahlern - aufgeteilt werden. Das übergreifende Konzept ist ein multidimensionales regulatorisches Risiko-Framework, welches eine systematische Beurteilung des Einflusses von stochastischen Risiken auf den Marktwert und Cashflow von regulierten Unternehmen ermöglicht. Gemäss den Dimensionen des Risiko-Frameworks werden die einzelnen Risiken nach ihren systematischen und symmetrischen Eigenschaften sowie nach deren finanziellen Auswirkungen auf das regulierte Unternehmen charakterisiert. Auf Grundlage der konzeptionellen Aufarbeitung und einer umfassenden bibliografischen Übersicht über die vorhandene wissenschaftliche Literatur werden neue Forschungsansätze entwickelt, welche sich mit den identifizierten analytischen und empirischen Forschungslücken befassen: Erstens erlaubt eine kapitalmarktbasierte Kennzahl für das implizierte systematische Risiko, welches auf Basis fundamentaler Bewertungsmodelle und Marktpreise errechnet werden kann, eine robuste Schätzung der Kapitalkosten von börsennotierten Übertragungsfirmen. Eine auf diesem Ansatz beruhende Anpassung der erlaubten Rendite könnte ein wertvolles selbstkorrigierendes Instrumentarium für Regulatoren darstellen. Zweitens ergibt die Analyse einer hypothetischen grenzüberschreitenden Übertragungsleitung zwischen Polen und Österreich, welche aufgrund stündlicher Spotpreise an den jeweiligen Strombörsen durchgeführt wurde, eine Schätzung des systematischen Risikos nahe Nul.

Refuelling Europe

Refuelling Europe Book
Author : David Buchan
Publisher : Wilfried Martens Centre for European Studies
Release : 2014-12-25
ISBN : 2930632356
Language : En, Es, Fr & De

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Book Description :

PDF available for free on: http://martenscentre.eu/publications/refuelling-europe-roadmap-completing-single-energy-market The Ukraine crisis has reignited debate in Europe surrounding the EU's lack of a fully functioning single energy market. It has brought home to all member states the general need for a more coordinated energy policy, even though they may differ on aspects of what needs to be done. This research highlights that integration of the internal energy market should still be the EU's main instrument to reach its three goals of cost competitiveness, security and emission reduction. A roadmap for completing the single energy market is proposed based on a harmonised EU-wide system of renewable energy subsidies and significant infrastructure investment in many Central and East European member states. These smart investments would form part of a coherent, long-term investment plan for the European energy sector and would enable these member states to improve their energy security through greater investment in gas storage and interconnectors. The goals of energy security, affordability and sustainability have never been higher on the EU's agenda. All three goals would be served if Europe truly unified its energy market. National leaders have it in their hands to complete this slow and difficult integration process, if they can just summon up the necessary political will to do so.

Capacity Mechanisms in the EU Energy Market

Capacity Mechanisms in the EU Energy Market Book
Author : Leigh Hancher,Adrien de Hauteclocque,Malgorzata Sadowska
Publisher : Oxford University Press
Release : 2015-09-24
ISBN : 0191066184
Language : En, Es, Fr & De

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Book Description :

Ensuring an adequate, long-term energy supply is a paramount concern in Europe. EU member states now intervene by encouraging investment in generation capacity, offering an additional revenue stream for conventional power plants in addition to the existing, heavily subsidised investments in renewable energy sources. These capacity remuneration mechanisms (or simply capacity mechanisms) have become a hot topic in the wider European regulatory debate. European electricity markets are increasingly interconnected, so the introduction of a capacity mechanism in one country not only distorts its national market but may have unforeseeable consequences for neighbouring electricity markets. If these mechanisms are adopted by several member states with no supra-national coordination and no consideration for their cross-border impact, they may cause serious market distortions and put the future of the European internal electricity market at risk. This book provides readers with an in-depth analysis of capacity mechanisms, written by an expert team of policy-makers, economists, and legal professionals. It will be a first point of reference for regulators and policy-makers responsible for designing optimal capacity mechanisms in Europe, and will be an invaluable resource for academics and practitioners in the fields of energy, regulation, and competition.

Fisher Investments on Utilities

Fisher Investments on Utilities Book
Author : Fisher Investments,Theodore Gilliland,Andrew S. Teufel
Publisher : John Wiley & Sons
Release : 2011-02-08
ISBN : 9781118009864
Language : En, Es, Fr & De

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Book Description :

The Fisher Investments On series is designed to provide individual investors, students, and aspiring investment professionals the tools necessary to understand and analyze investment opportunities—primarily for investing in global stocks. Each guide is an easily accessible primer to economic sectors, regions, or other components of the global stock market. While this guide is specifically on Utilities, the basic investment methodology is applicable for analyzing any global sector, regardless of the current macroeconomic environment. Following a top-down approach to investing, Fisher Investments on Utilities can help you make more informed decisions within the Utilities sector. It skillfully addresses how to determine optimal times to invest in Utilities stocks and which Utilities industries have the potential to perform well in various environments. Divided into three comprehensive parts—Getting Started, Utilities Details, and Thinking Like a Portfolio Manager—Fisher Investments on Utilities: Explains some of the sector’s key macro drivers—like regulation, economic cycles, and investor sentiment Shows how to capitalize on a wide array of macro conditions and industry-specific features to help you form an opinion on each of the industries within the sector Takes you through the major components of the industries within the global Utilities sector and reveals how they operate Offers investment strategies to help you determine when and how to overweight specific industries within the sector Outlines a five-step process to help differentiate firms in this field—designed to help you identify ones with the greatest probability of outperforming Filled with in-depth insights, Fisher Investments on Utilities provides a framework for understanding this sector and its industries to help you make better investment decisions—now and in the future. With this book as your guide, you can gain a global perspective of the Utilities sector and discover strategies to help achieve your investing goals.

Batteries in Electricity Markets

Batteries in Electricity Markets Book
Author : Bolun Xu
Publisher : Unknown
Release : 2018
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Batteries have been storing electricity for mankind since 1800, while it is till recently that grid-scale battery energy storage become commercially viable and are seeking merchant opportunities in electricity markets. Battery energy storage have faster ramp speed compared to other types of generation units, and are extremely valuable for facilitating the integration of renewable energy resources. Battery energy storage can provide arbitrage and ancillary services in the electricity market. However, even though nowadays battery energy storage systems are constructed and operated with mature technologies, it remains an open question on how to operates them economically in electricity market to maximize the investment profit. This dissertation covers the optimal planning, scheduling, and operation for battery energy storage in electricity markets. It shows that the degradation mechanism of electrochemical battery cells must be considered in market bidding and operation strategies to maximize the participant's operating profit, and proposes optimal methods to incorporate the cost of battery degradation into different participation stages and markets. For frequency regulation markets, this dissertation proposes a real-time control policy that optimally trades-off the performance penalty and the degradation cost in frequency regulation operations. A optimal bidding policy is designed based on the proposed control policy to maximize participant's market profit while maintaining satisfactory operation performance. For energy markets, this dissertation designs a piece-wise linear model that accurately incorporates battery degradation cost into dispatch optimization and bidding strategies. Finally, this dissertation proposes a bi-level planning model to optimize the location and rating of battery energy storage systems considering both energy and reserve markets. This model ensures the profitability of investments in energy storage by enforcing a rate of return constraint. This model is tested on a 240-bus model of the Western Electricity Coordinating Council (WECC) system, and the result analyzes the effects of different storage technologies, rate of return requirements, and regulation market policies on ES participation on the optimal storage investment decisions.

The Global Energy Transition

The Global Energy Transition Book
Author : Peter D Cameron,Xiaoyi Mu,Volker Roeben
Publisher : Bloomsbury Publishing
Release : 2021-01-14
ISBN : 1509932496
Language : En, Es, Fr & De

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Book Description :

Global energy is on the cusp of change, and it has become almost a truism that energy is in transition. But what does this notion mean exactly? This book explores the working hypothesis that, characteristically, the energy system requires a strategy of the international community of states to deliver sustainable energy to which all have access. This strategy is for establishing rules-based governance of the global energy value-cycle. The book has four substantive parts that bring together contributions of leading experts from academia and practice on the law, policy, and economics of energy. Part I, 'The prospects of energy transition', critically discusses the leading forecasts for energy and the strategies that resource-rich countries may adopt. Part II, 'Rules-based multilateral governance of the energy sector', details the development and sources of rules on energy. Part III, 'Competition and regulation in transboundary energy markets', discusses principal instruments of rules-based governance of energy. Part IV, 'Attracting investments and the challenges of multi-level governance', focuses on the critical governance of the right investments. This book is a flagship publication of the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee. It launches the Hart series 'Global Energy Law and Policy' and is edited by the series general editors Professors Peter D Cameron and Volker Roeben, and also Dr Xiaoyi Mu.

Financial Derivatives on Energy Markets

Financial Derivatives on Energy Markets Book
Author : United States. Congress. Senate. Committee on Energy and Natural Resources
Publisher : Unknown
Release : 2010
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Financial Derivatives on Energy Markets book written by United States. Congress. Senate. Committee on Energy and Natural Resources, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Investing in Energy

Investing in Energy Book
Author : Gianna Bern
Publisher : John Wiley & Sons
Release : 2011-06-21
ISBN : 157660375X
Language : En, Es, Fr & De

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Book Description :

An energy industry researcher and investment advisor provides a fresh perspective on the economics of energy From major players in the energy industry, such as big oil, to the emerging cap-and-trade market, no other book offers a more complete overview of the energy industry, specifically its economic and financial intricacies, than Investing in Energy: A Primer on the Economics of the Energy Industry. Details how to value and invest in the four big energy sectors: oil, gas, power, and green Describes key financial considerations for the energy sectors, including credit metrics, the importance of liquidity, cash flow, and capital expenditures From Bloomberg, a leading provider of the most up-to-date business news and financial data A comprehensive guide to the economics of the energy industry, Investing in Energy will prove an invaluable resource for traditional energy investors looking to expand into new areas, as well as for eco-investors looking to better understand how energy markets function.

Energy Market Study in the Baltic Sea Region

Energy Market Study in the Baltic Sea Region Book
Author : Anonim
Publisher : Nordic Council of Ministers
Release : 1999
ISBN : 9789289302890
Language : En, Es, Fr & De

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Book Description :

Download Energy Market Study in the Baltic Sea Region book written by , available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

California energy markets

California energy markets Book
Author : United States,United States. Congress. House. Committee on Government Reform. Subcommittee on Energy Policy, Natural Resources, and Regulatory Affairs
Publisher : Unknown
Release : 2003
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download California energy markets book written by United States,United States. Congress. House. Committee on Government Reform. Subcommittee on Energy Policy, Natural Resources, and Regulatory Affairs, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Energy Security along the New Silk Road

Energy Security along the New Silk Road Book
Author : Anatole Boute
Publisher : Cambridge University Press
Release : 2019-06-13
ISBN : 1108498973
Language : En, Es, Fr & De

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Book Description :

The impact of the new 'Great Game' on Central Asia's energy reforms illustrates the interconnection between law, geopolitics and institutions.

Russian Electricity and Energy Investment Law

Russian Electricity and Energy Investment Law Book
Author : Anatole Boute
Publisher : BRILL
Release : 2015-08-10
ISBN : 9004203281
Language : En, Es, Fr & De

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Book Description :

This book analyzes the regulatory framework that Russia has developed to attract private capital and technology in the modernization of the electricity infrastructure. Comparing Russian and EU electricity law, the book identifies regulatory risks and examines investors’ protection under Russian and international investment law.