Energy Transitions In Europe Role Of Natural Gas In Electricity Prices
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| Author | : Behnam Zakeri |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2022 |
| Genre | : |
| ISBN | : |
The post-pandemic surge in energy prices in Europe, exacerbated by the consequences of the Russia-Ukraine war, has intensified a critical debate over EU energy and climate policy: to what extent are variable renewable energy, namely wind power and solar PV, versus fossil fuels impacting electricity markets and prices? Using econometric analysis and European open power system data between 2015-2019, we quantify the role of fossil-fuelled vs. low-carbon electricity generation in shaping wholesale electricity prices in Europe. We find that, despite a declining share in electricity generation, fossil fuels are still the main power plants “at the margin” and set power prices in Europe about 66% of the time whilst generating only 37% of electricity per year. Energy transitions in Europe have shifted dependency away from coal toward natural gas as the main electricity price setter, making European electricity prices dependent on natural gas prices more than ever. As natural gas is mostly imported to Europe, this exposes electricity prices to the geopolitical risks of gas supply, as well as the economic risks of currency exchange and natural gas price volatility. We discuss potential solutions to these issues.
| 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 | : Manfred Hafner |
| Publisher | : Springer Nature |
| Total Pages | : 398 |
| Release | : 2020-06-09 |
| Genre | : Political Science |
| ISBN | : 3030390667 |
The world is currently undergoing an historic energy transition, driven by increasingly stringent decarbonisation policies and rapid advances in low-carbon technologies. The large-scale shift to low-carbon energy is disrupting the global energy system, impacting whole economies, and changing the political dynamics within and between countries. This open access book, written by leading energy scholars, examines the economic and geopolitical implications of the global energy transition, from both regional and thematic perspectives. The first part of the book addresses the geopolitical implications in the world’s main energy-producing and energy-consuming regions, while the second presents in-depth case studies on selected issues, ranging from the geopolitics of renewable energy, to the mineral foundations of the global energy transformation, to governance issues in connection with the changing global energy order. Given its scope, the book will appeal to researchers in energy, climate change and international relations, as well as to professionals working in the energy industry.
| Author | : Mr. Anil Ari |
| Publisher | : International Monetary Fund |
| Total Pages | : 41 |
| Release | : 2022-07-29 |
| Genre | : Business & Economics |
| ISBN | : |
We estimate that the recent surge in international fossil fuel prices will raise European households’ cost of living in 2022 by close to 7 percent of consumption on average. Household burdens vary significantly across and within countries, but in most cases they are regressive. Policymakers have mostly responded to the shock with broad-based price-suppressing measures, including subsidies, tax reductions, and price controls. Going forward, the policy emphasis should shift rapidly towards allowing price signals to operate more freely and providing income relief to the vulnerable. The surge in energy prices will encourage energy conservation and investments in renewable energy, but the manyfold rise in natural gas prices could lead to a persistent switch towards coal. To ensure steady progress towards carbon emissions reduction goals, authorities could use the opportunity to strengthen carbon pricing when global fossil fuel prices decline in the future. Non-price incentives for investments in energy efficiency and renewable energy should also be enhanced, as envisaged in the RePowerEU plan.
| Author | : Matúš Mišík |
| Publisher | : Springer Nature |
| Total Pages | : 628 |
| Release | : 2020-09-28 |
| Genre | : Political Science |
| ISBN | : 3030550850 |
This book examines energy transition issues within the Central and Eastern European (CEE) region. The European Union is aiming for an almost complete decarbonization of its energy sector by 2050. However, the path towards a carbon-free economy is full of challenges that must be solved by individual EU members. Across 18 chapters, leading researchers explore challenges related to energy transition and analyse individual EU members from Central and Eastern Europe, as well as the region as a whole. To further explore this complex issue, the volume also includes several countries from South East Europe in its analysis. As perspective members, these countries will be important contributors to the EU’s mid- and long-term climate and energy goals. The focus on a variety of issues connected to energy transition and systematic analyses of the different CEE countries make it an ideal reference for anyone with a general interest in the region or European energy transition. It will also be a useful resource for students looking for an accessible overview of the field.
| Author | : Silvana Bartoletto |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 160 |
| Release | : 2020-10-30 |
| Genre | : Technology & Engineering |
| ISBN | : 1788977556 |
This illuminating book analyses energy transitions, carbon dioxide emissions and the security of energy supply in Mediterranean countries. Unpacking the history of energy transitions, from coal to oil and natural gas, and from non-renewable to renewable energy sources, Silvana Bartoletto offers a comparative approach to the major trends in energy consumption, production, trade and security in Mediterranean countries in Europe, the Middle East and North Africa.
| Author | : Gökҫe Mete |
| Publisher | : Springer Nature |
| Total Pages | : 317 |
| Release | : 2019-11-23 |
| Genre | : Social Science |
| ISBN | : 3030326144 |
This book assesses the impact of energy transitions on the future of natural gas in the EU energy mix. As we approach 2050, the requirement to sharply decrease CO2 and other GHG emissions means that the role of gas infrastructure in the EU and beyond will change drastically. But what does such change mean? To address this question the author critically analyses the EU’s evolving natural gas market policy and law. Clearly structured throughout, the book explores the following questions: How can we maximise the potential of gas infrastructure to reduce carbon emissions? What are the lessons learned from decision making experience in the natural gas sector? Is the EU moving towards or away from a climate neutral gas sector? How will green and low carbon gas technologies be supported? And, are proposals to drive a growing share of hydrogen, biomethane, and synthetic methane to the system just an excuse to prolong fossil fuel operations? The book explores whether the EU will continue to subsidy natural gas projects or decarbonise the gas grid before 2050, and at what cost. Recommendations are proposed for a new regulatory and policy framework for development and operation of hydrogen pipelines, injection of biomethane into the existing gas grid and for pipelines carrying CO2. Filling an important gap in the literature, this book aims to develop an understanding of and clarify the complex range of legislation involved within a single analytical framework. Although the focus is mainly on the future of gas in the EU, the findings and recommendations are relevant for a much wider geography. This book will be an invaluable reference to policy makers and practitioners as well as researchers and students across the social sciences interested in the future of energy.
| Author | : Geoffrey Wood |
| Publisher | : Springer Nature |
| Total Pages | : 647 |
| Release | : 2019-11-12 |
| Genre | : Technology & Engineering |
| ISBN | : 3030280764 |
This Handbook is the first volume to comprehensively analyse and problem-solve how to manage the decline of fossil fuels as the world tackles climate change and shifts towards a low-carbon energy transition. The overall findings are straight-forward and unsurprising: although fossil fuels have powered the industrialisation of many nations and improved the lives of hundreds of millions of people, another century dominated by fossil fuels would be disastrous. Fossil fuels and associated greenhouse gas emissions must be reduced to a level that avoids rising temperatures and rising risks in support of a just and sustainable energy transition. Divided into four sections and 25 contributions from global leading experts, the chapters span a wide range of energy technologies and sources including fossil fuels, carbon mitigation options, renewables, low carbon energy, energy storage, electric vehicles and energy sectors (electricity, heat and transport). They cover varied legal jurisdictions and multiple governance approaches encompassing multi- and inter-disciplinary technological, environmental, social, economic, political, legal and policy perspectives with timely case studies from Africa, Asia, Australia, Europe, North America, South America and the Pacific. Providing an insightful contribution to the literature and a much-needed synthesis of the field as a whole, this book will have great appeal to decision makers, practitioners, students and scholars in the field of energy transition studies seeking a comprehensive understanding of the opportunities and challenges in managing the decline of fossil fuels.
| Author | : Erik Gawel |
| Publisher | : Springer |
| Total Pages | : 559 |
| Release | : 2019-02-07 |
| Genre | : Business & Economics |
| ISBN | : 3030033740 |
This book addresses the interactions between Germany’s energy transition and the EU’s energy policy framework. It seeks to analyze the manifold connections between the prospects of the proclaimed “Energy Union” and the future of Germany’s energy transition, and identifies relevant lessons for the transformation at the EU level that can be learned from the case of Germany, as a first-mover of transforming energy systems towards renewables. The various repercussions (political, economic and systemic) from the national transition are explored within the EU context as it responds to the German transition, taking into account both existing frictions and potential synergies between predominantly national sustainability policies and the EU’s push towards harmonized policies within a common market. The book’s overall aim is to identify the most critical issues, in order to avoid pitfalls and capitalize on opportunities.
| Author | : Mr. Serhan Cevik |
| Publisher | : International Monetary Fund |
| Total Pages | : 22 |
| Release | : 2022-11-04 |
| Genre | : Business & Economics |
| ISBN | : |
European power markets are in the midst of unprecedented changes, with a record-breaking surge in energy prices.This paper investigates the impact of green power resources on the level and volatility of wholesale electricity prices at a granular level, using monthly observations for a panel of 24 European countries over the period 2014–2021 and alternative estimation methods including a panel quantile regression approach. We find that renewable energy is associated with a significant reduction in wholesale electricity prices in Europe, with an average impact of 0.6 percent for each 1 percentage points increase in renewable share. We also find evidence for a nonlinear effect—that is, higher the share of renewables, the greater its effect on electricity prices. On the other hand, while quantile estimation results are mixed with regards to the impact of renewables on the volatility of electricity prices, we obtain evidence that renewable energy has a negative effect on volatility at the highest quantiles. Overall, our analysis indicates that policy reforms can help accelerate the green transition while minimizing the volatility in electricity prices.
