Electricity Markets In Transition
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| Author | : Leonardo Meeus |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 192 |
| Release | : 2020-11-27 |
| Genre | : Business & Economics |
| ISBN | : 1789905478 |
Bridging theory and practice, this book offers insights into how Europe has experienced the evolution of modern electricity markets from the end of the 1990s to the present day. It explores defining moments in the process, including the four waves of European legislative packages, landmark court cases, and the impact of climate strikes and marches.
| Author | : Ahmad Faruqui |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 372 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 1461508339 |
Electricity Pricing In Transition is written to address the new issues facing utilities, retailers, regulators, and customers in the changing electricity market. It is organized into five sections. Section I deals with the new restructured organization that has emerged from yesterday's vertically integrated, regulated monopoly company. Section II deals with issues in competitive pricing. Section III reviews the role of demand response and product design in today's chaotic marketplace. Given the single importance of California's energy crisis and the fact that it will be studied for years to come, Section IV is devoted to studying the lessons learned from this crisis. The final section of the book deals with markets and regulations. This book will provide practitioners with guidance on how to avoid the major pitfalls in pricing electricity while the market is in transition by drawing upon the insights and lessons learned from the experience of others that are documented in this book.
| Author | : Darryl R. Biggar |
| Publisher | : John Wiley & Sons |
| Total Pages | : 493 |
| Release | : 2014-07-10 |
| Genre | : Science |
| ISBN | : 1118775724 |
Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concerns. The book covers the basic modelling of electricity markets, including the impact of uncertainty (an integral part of generation investment decisions and transmission cost-benefit analysis). It draws out the parallels to the Nordpool market (an important point of reference for Europe). Written from the perspective of the policy-maker, the first part provides the introductory background knowledge required. This includes an understanding of basic economics concepts such as supply and demand, monopoly, market power and marginal cost. The second part of the book asks how a set of generation, load, and transmission resources should be efficiently operated, and the third part focuses on the generation investment decision. Part 4 addresses the question of the management of risk and Part 5 discusses the question of market power. Any power system must be operated at all times in a manner which can accommodate the next potential contingency. This demands responses by generators and loads on a very short timeframe. Part 6 of the book addresses the question of dispatch in the very short run, introducing the distinction between preventive and corrective actions and why preventive actions are sometimes required. The seventh part deals with pricing issues that arise under a regionally-priced market, such as the Australian NEM. This section introduces the notion of regions and interconnectors and how to formulate constraints for the correct pricing outcomes (the issue of "constraint orientation"). Part 8 addresses the fundamental and difficult issue of efficient transmission investment, and finally Part 9 covers issues that arise in the retail market. Bridges the gap between engineering and economics in electricity, covering both the economics and engineering knowledge needed to accurately understand, plan and develop the electricity market Comprehensive coverage of all the key topics in the economics of electricity markets Covers the latest research and policy issues as well as description of the fundamental concepts and principles that can be applied across all markets globally Numerous worked examples and end-of-chapter problems Companion website holding solutions to problems set out in the book, also the relevant simulation (GAMS) codes
| Author | : Natalia Fabra |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2022 |
| Genre | : Electric utilities |
| ISBN | : |
In the context of the debate about the reform of electricity markets in Europe, this document proposes a new electricity market architecture. It is based on two pillars: (i) a well-functioning short-run energy market; and (ii) a set of efficient and equitable long-run contracts, signed between firms and the regulator on behalf of all consumers. The design of long-term contracts takes into account the characteristics of the various technologies in order to strike the right balance between exposing them to the short-run price signals while de-risking the investments. The proposal would facilitate the achievement of carbon-free and diversified power markets, allowing for substantial reductions in the cost of electricity for consumers. The proposed design is mostly in line with the recent European Commission (2022b)’s proposal, and it further provides details on key elements that the European Commission has not yet specified.
| Author | : Peter C. Cramton |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2022 |
| Genre | : |
| ISBN | : |
Electricity markets worldwide are undergoing a many-decade transition in the way electricity is generated and consumed. The success of this transition depends critically on climate policy and market design. We model the most advanced electricity markets in the world to evaluate the impact of alternative policies on electricity market outcomes over the next 40 years, including costs, profits, social welfare, risks, and reliability. Each year, investors decide which resources enter and exit given forward-looking consistent expectations about energy profits, prices, and costs. The model is unique in modeling investment decisions at the individual unit level based on precisely calculated profits from energy, reserves, and capacity markets. These profits depend critically on the resource structure, which changes each year with investor decisions. New and essential elements of electricity markets, such as battery storage and price responsive demand are fully integrated. The model provides detailed insights into how policies such as carbon pricing impact the transition to renewable energy.
| Author | : Manuel Welsch |
| Publisher | : Academic Press |
| Total Pages | : 355 |
| Release | : 2017-04-13 |
| Genre | : Political Science |
| ISBN | : 0128099038 |
Europe's Energy Transition: Insights for Policy Making looks at the availability and cost of accessing energy and how it significantly affects economic growth and competitiveness in global markets. The results in this book, from a European Commission (EC) financed project by INSIGHT_E, provide an overview of the most recent analyses, focusing on energy markets and their implications for society. Designed to inform European policymaking, elements of this book will be integrated into upcoming EC policies, giving readers invaluable insights into the cost and availability of energy, the effect of price increases affecting vulnerable consumer groups, and current topics of interest to the EC and ongoing energy debate.INSIGHT_E provides decision-makers with unbiased policy advice and insights on the latest developments, including an assessment of their potential impact. - Presents answers to strategic questions posed by the European Commission - Coherently assesses the energy transition, from policies to energy supply, markets, system requirements, and consumer needs - Informed the EC "Clean Energy for All Europeans" package from end of 2016, e.g., regarding aspects of energy poverty - Endorsed by thought leaders from within and outside of Europe, including utilities, energy agencies, research institutes, journal editors, think tanks, and the European Commission
| Author | : Kathryn Hochstetler |
| Publisher | : Cambridge University Press |
| Total Pages | : 295 |
| Release | : 2020-11-26 |
| Genre | : Business & Economics |
| ISBN | : 1108843840 |
Shows that economic concerns about jobs, costs, and consumption, rather than climate change, are likely to drive energy transition in developing countries.
| Author | : Tooraj Jamasb |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2023 |
| Genre | : |
| ISBN | : |
Two electricity market crises following the lifting of post-Covid restrictions in 2021 and the natural gas supply interruptions in 2022, challenged the functioning of the EU electricity market and its design. This paper argues that the market design was already ripe for an overhaul as the efficient market paradigm has gradually given way to as instrument of cost-effective attainment of green targets and balancing of the elements of energy trilemma. We discuss the linkages between the long-term and short-term markets. While policy interventions to alleviate short-term affordability are important, they cannot constraint the long-term sustainability and security of supply. Short-term electricity markets have, technically, worked according to design. However, the distributional implications of them call for revisiting how resources are allocated to and operate in the market. We revisit several dimensions of market design with a view to the recent calls and to review and overhaul them such as windfall tax, contract for differences, market decoupling etc.
| Author | : Anne-Sophie Corbeau |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 0 |
| Release | : 2016 |
| Genre | : Liquefied natural gas industry |
| ISBN | : 9780198783268 |
The present situation in the LNG market should be seen as a 'crossroads' for the industry. The LNG industry has not been static over the past 5 decades and has already experienced many changes, but still the model of long-term contracts prevails and the majority of LNG is still bought at oil-indexed gas prices. There have however been considerable changes: an increase in short-term trading of LNG, buyer contractual flexibility and FOB contracts which have lead to around a quarter of the LNG is being traded under spot and short-term contracts, with aggregators play a far more significant role. All these factors have influenced project business structures. The industry has now embarked on a period of further change, with 180 bcm of new LNG export capacity (equivalent to more than 50% of LNG trade in 2014) under construction at a time when the assumed rapid LNG demand growth in Asia appears to be slowing. The absorption of this new supply will affect, not only trade-flow patterns, but also pricing dynamics, competition with other gas supply channels and (in the power sector) potentially other fuels. Key to this change is US LNG, with buyers becoming more selective about the price and delivery terms they are ready to accept. Sellers however are facing high costs and are reluctant to abandon a business model in which they have confidence. Oil indexation is under further attack with US LNG selling at HH indexed prices (plus costs), and other sellers and buyers have been pressured to adopt different pricing policies and secure more contractual flexibility. This volume examines the development of the LNG business over the past 50 years and examines how the industry will change over the coming 15 years, faced by unprecedented challenges to its historic business model.
| Author | : Douglas Arent |
| Publisher | : Oxford University Press |
| Total Pages | : 631 |
| Release | : 2017 |
| Genre | : Business & Economics |
| ISBN | : 0198802242 |
A volume on the political economy of clean energy transition in developed and developing regions, with a focus on the issues that different countries face as they transition from fossil fuels to lower carbon technologies.
