WorldWideScience

Sample records for european electricity market

  1. The European electricity market

    International Nuclear Information System (INIS)

    1988-01-01

    The creation of a single European market also will have its effects on the power and electricity sector. Expectations tied to this abandonment of borders on the electricity market are different: some hope for a reduction of energy costs, others fear safeguarded supplies to be at risk. It cannot be fully judged at present what the situation will be on a strongly integrated, European power and electricity market, and the brochure in hand is intended to present a first survey of the situation from the perspective of the power industry and energy policy, concentrating on main aspects. The survey is compiled in the form of reprints of journal articles written on this topic by a number of well-known German experts in the field. (orig./HP) [de

  2. Th european market of the electric power

    International Nuclear Information System (INIS)

    2001-01-01

    This document presents the CRE (commission of the Electric power Control) progress report concerning the first july 2000 to the 30 june 2001. Three main subjects are discussed, illustrated by economic data and graphs: the electric power european market, the french market control and the CRE. A special interest is given to the deregulation of the market and its consequences. (A.L.B.)

  3. Independent regulatory authorities in European electricity markets

    International Nuclear Information System (INIS)

    Larsen, Anders; Pedersen, Lene Holm; Sorensen, Eva Moll; Olsen, Ole Jess

    2006-01-01

    Liberalisation of the electricity market has taken place in most European countries within the last decade. It is considered a precondition of successful liberalisation to establish so-called independent regulatory authorities. In this article, we compare the status and practice of them in 16 European countries, and discuss the relationship between the organisation of the regulation and the market outcome

  4. French dissatisfactions on the European electricity market

    International Nuclear Information System (INIS)

    Glachant, J.M.

    2007-01-01

    The author first notices that the French electricity professional consumers are dissatisfied with the results of the creation of the European domestic electricity market in 1997: price increase either on bills or on the wholesale markets, and even more price increases are to come. The author proposes to examine several issues: what has been done during the 6 or 7 past years, that is since the California crisis in 2000-2001, to put the European electrical reforms on a virtuous track? Have the basic market economy principles been respected to protect competitiveness of all energy consumer professionals? How and why the French government or EDF will make us pay gas, coal or CO 2 emission permits like in England or Germany whereas the French electricity production has mainly (90 or 95 per cent) a nuclear or hydraulic origin?

  5. European internal electricity market. What next?

    International Nuclear Information System (INIS)

    Petrov, K.; Hewicker, C.; Boisseleau, F.; Nabuurs, P.

    2007-01-01

    2006 has been a very active year in the development of electricity markets worldwide. In Europe the liberalisation process was moving forward driven by the European Directives implemented in the EU states. Together with security of supply and environmental protection, implementation of competitive energy markets has also been one of the main objectives of EU energy policy. A competitive internal market for electricity has been progressively implemented across the European Union since 1999-2000. This process aims at increasing competition in electricity generation and supply leading to enhanced efficiency, which is closely associated with lower production costs and ultimately lower electricity prices. The sector inquiry and the country reviews conducted by the European Commission (EC) during 2006 showed that progress has been achieved. However, there are still a number of issues that need to be resolved in order to achieve an adequately operating internal electricity market. The EC energy package from 10th January 2007 is a set of concrete proposals for action in the energy field and arises in reaction to the Green Paper published on 8th March 2006. The Green Paper 'A European Strategy for Sustainable, Competitive and Secure Energy', on the one hand, identified the main problems that the European energy sector faces and, on the other hand, suggested possible actions to meet key objectives, including security of supply, environmental sustainability and competitiveness towards a unified European Energy Policy. The motivation of the EC package is the need to identify new measures or a strengthening of existing measures to reach the targets and their underlying objectives. The EC package deals with the main issues on energy policy (renewable electricity, internal electricity and gas market, sector competition, sustainable power generation from fossil fuels, nuclear energy, gas and electricity infrastructures and energy technology) and an action plan for energy

  6. Independent regulatory authorities in European electricity market

    DEFF Research Database (Denmark)

    Olsen, Ole Jess; Larsen, Anders; Sørensen, Eva Moll

    2006-01-01

    Liberalisation of the electricity market has taken place in most European countries within the last decade. It is considered a precondition of successful liberalisation to establish so-called independent regulatory authorities. In this article, we compare the status and practice of them in 16...

  7. Management of electricity markets in European Union

    International Nuclear Information System (INIS)

    Zamfir, A.; Florescu, M.S.

    2007-01-01

    The challenges facing energy markets in Europe were discussed with particular reference to the need to integrate and interconnect national energy markets. The Romanian power market evolution since 2000 was also analyzed, taking into account the fact that the strategic objective of the Romanian Government is to assume the role of Regional Exchange in the South-East European region. A common approach to energy is needed to enable the European Union (EU) to compete in global markets, to improve sustainability in the EU and to secure energy supply. An overall framework is needed in order to achieve these objectives. This paper presented the general measures needed to complete the internal gas and electricity markets in Europe. It also proposed measures to ensure that the EU's internal energy market guarantees security of supply and solidarity between Member States. The guiding principles that an approach to information management and market transparency should be based on were described. The authors suggested that an integrated and competitive electricity and gas markets should be established to promote efficient energy services and diversify the energy mix. The measures needed in order to achieve the goal of a genuine single market at EU level were described along with the actions needed to stimulate investments in infrastructure and generation capacity. Measures to prevent or manage energy supply crises were also proposed. 4 refs., 1 tab

  8. The benefits of integrating European electricity markets

    International Nuclear Information System (INIS)

    Newbery, David; Strbac, Goran; Viehoff, Ivan

    2016-01-01

    The European Commission's Target Electricity Model (TEM) aims to integrate EU electricity markets. This paper estimates the potential benefit of coupling interconnectors to increase the efficiency of trading day-ahead, intra-day and balancing services across borders. Further gains are possible by eliminating unscheduled flows and avoiding the curtailment of renewables with better market design. In the short run the gains could be as high as €3.9 billion/yr, more than 100% of the current gains from trade. About one-quarter of this total comes from day-ahead coupling and another third from shared balancing. If shared balancing is so valuable, completing the TEM becomes more urgent, and regulators should ensure these gains are paid to interconnectors to make the needed investment in the cross-border links more commercially profitable. - Highlights: •The benefits from day-ahead market coupling are €1 bn/yr. •Intra-day and balancing benefits add a further €1.3 bn/yr. •Total benefits including removing unscheduled flows could be €3.4 bn/yr. •Sharing balancing and reserves is high priority. •Rewarding interconnectors for all services reduces barriers to expansion.

  9. The European green electricity markets in 2010

    International Nuclear Information System (INIS)

    Meibom, Peter; Skytte, Klaus

    2003-01-01

    The market shares of different electricity producing renewable energy technologies in the green electricity markets in EU, and the size and prices obtained on these markets depends strongly on the market designs and support policies governing the development of these markets. These issues have been analysed with the use of the ADMIRE REBUS model. Costs data for all significant electricity producing renewable energy technologies and data on the sizes of the renewable energy resources in the EU are combined with different national development of the support policies for green electricity in the different EU countries towards a common EU market in 2010. The model simulates the operation of each green electricity market in EU and the interaction between the markets. Model results show that in a harmonized EU wide tradable green certificate system starting from 2010, i.e. in a system without technology-specific support, wind power will be the most competitive technology, but power plants using different types of biomass will also gain a large share of the market. To reach the indicative EU targets for RES-E production in 2010 a TGC price of 5.6 eurocents is necessary in addition to a physical power price of 2.2 eurocents. (au)

  10. Reforming European electricity industries: to each, his own ''single market''

    International Nuclear Information System (INIS)

    Glachant, J.M.

    2000-01-01

    National transpositions of the European directive on domestic electricity markets have maintained a degree of diversity; and this also characterizes the other conditions for accessing national electricity markets (physical, commercial, industrial and capital access). As a look at the prices of electricity shows, these national markets do not operate in a single way Europe-wide. Furthermore, electricity companies - key actors in this competition - differ widely from each other in size, electrical potential, investment portfolios and strategies for growth. (authors)

  11. How to benefit from a common European electricity market design

    International Nuclear Information System (INIS)

    Ringler, Philipp; Keles, Dogan; Fichtner, Wolf

    2017-01-01

    The realization of an Internal Electricity Market in Europe is currently, on the one hand, progressing, in particular thanks to the wide-spread implementation of market coupling solutions for cross-border congestion management. On the other hand, diverging national market designs pose a threat to the continuation of this process. Given the challenges to electricity market design in a multi-regional context, we analyze how different design aspects, namely cross-border congestion management and capacity mechanisms, affect welfare and generation adequacy in Europe. In doing so, we rely on an agent-based simulation model for electricity wholesale markets which we apply within several numerical, computational case studies for the region of Central Western Europe (2012–2030). Our results confirm the benefits of market coupling in terms of welfare as well as generation adequacy. Furthermore, we find indications that coordinating market designs across regions supports these targets. Therefore, we recommend that European energy policy forms a stable, transparent regulatory framework with cross-border market coupling as an integral component. In this context, energy policy targets should be clearly defined and operationalized, which also needs to consider potential conflicts between them. Finally, electricity market designs need to be coordinated among states to benefit most from a common European market. - Highlights: • European electricity markets at crossroads given diverging market designs • Simulation of CWE Market Coupling using an agent-based model. • Welfare and adequacy gains from European market coupling and new interconnections. • Conflicts between energy policy targets to be considered in market design. • Coordination key to further strengthen integration of electricity markets in Europe.

  12. European Electricity Markets in Crisis: Diagnostic and Way Forward

    International Nuclear Information System (INIS)

    Roques, Fabien

    2013-01-01

    The European electricity industry is going through a profound crisis as several factors combine to create a challenging operating environment for thermal plants. The key issue is that the regulatory and market framework create a climate of deep policy and regulatory uncertainty which will hamper investments and will not deliver on the long term objectives of decarbonization and competitiveness of the European economy. This report analyses both the short and long term challenges for the European electricity markets, and highlights some directions for reform. The report has three main parts. The first part describes the current status quo and challenges associated with the long term decarbonization of the European economy: Section 1 sets the scene by describing the current challenges for the European electricity industry and the challenges associated with the long term decarbonization of the European economy; Section 2 quantifies the investment challenge for the electricity industry and shows how the current regulatory uncertainty undermines investments and will likely not deliver on the stated policy objectives; The second part of the report focusses on the 'extrinsic' issues which affect electricity markets: Section 3 reviews the wider context for electricity market liberalization, which calls for a rethink of the European energy policy framework, including the recent developments in global energy markets, as well as the impact of rising energy prices on economic competitiveness; Section 4 presents the distortive effects of support policies for low carbon technologies and the issues with the European carbon Trading Scheme; The third and last part of the report concentrates on the 'intrinsic issues' with electricity markets: Section 5 details the experience to date with European electricity markets liberalization, and highlights the achievements as well as the shortcomings of the liberalization and integration process; Section 6 dwells into the 'intrinsic issues

  13. The liberalisation of the continental European electricity market : lessons learned

    International Nuclear Information System (INIS)

    Haas, R.; Auer, H.; Keseric, N.; Glachant, J.M.; Perez, Y.

    2006-01-01

    Before 1990, nearly all electricity supply companies in continental Europe (CE) were vertically integrated in a franchise market, either state-owned or under price-regulated mixed private-public ownership. In 1996, the European Commission (EC) issued a directive for a common electricity market, which launched the liberalisation of the electricity market in continental Europe (CE). The ultimate objective was to lower electricity prices throughout Europe by promoting competition in generation and supply through price deregulation and privatization. The intention of the EC was to create one common European electricity market. This paper analyzed the evolution of this market along with conditions needed to enhance competition in the long term. It also presented background information with major data on electricity supply and demand in the CE markets and outlined EC and national governments' market liberalisation initiatives and the major changes that countries have made. Currently, there are at least 7 distinct sub-markets separated by partly insufficient transmission capacity and differences in access conditions to the grid. In 2004, the total demand in the CE area was 2300 TWh. This paper also summarized generation capacity and load in CE; imports and exports between CE countries; past and current transmission issues; political issues for restructuring; providing non-discriminatory access to the market and to the grid; the new institutional and regulatory environment and the promotion of renewables. The performance of the market was also reviewed with particular reference to market access, mergers, acquisitions, market concentration, and the evolution of both wholesale and retail electricity prices. It was concluded that in order to bring about effective competition in the long run, the following conditions would be required: complete ownership separation of the transmission grid from generation and supply in all countries and sub-markets; adequate capacity margin in

  14. The liberalisation of the continental European electricity market : lessons learned

    Energy Technology Data Exchange (ETDEWEB)

    Haas, R.; Auer, H.; Keseric, N. [Vienna Univ. of Technology, Vienna (Austria). Energy Economics Group; Glachant, J.M.; Perez, Y. [Paris-Sud Univ., Paris (France). ADIS-Group Reseaux Jean-Monnet

    2006-10-01

    Before 1990, nearly all electricity supply companies in continental Europe (CE) were vertically integrated in a franchise market, either state-owned or under price-regulated mixed private-public ownership. In 1996, the European Commission (EC) issued a directive for a common electricity market, which launched the liberalisation of the electricity market in continental Europe (CE). The ultimate objective was to lower electricity prices throughout Europe by promoting competition in generation and supply through price deregulation and privatization. The intention of the EC was to create one common European electricity market. This paper analyzed the evolution of this market along with conditions needed to enhance competition in the long term. It also presented background information with major data on electricity supply and demand in the CE markets and outlined EC and national governments' market liberalisation initiatives and the major changes that countries have made. Currently, there are at least 7 distinct sub-markets separated by partly insufficient transmission capacity and differences in access conditions to the grid. In 2004, the total demand in the CE area was 2300 TWh. This paper also summarized generation capacity and load in CE; imports and exports between CE countries; past and current transmission issues; political issues for restructuring; providing non-discriminatory access to the market and to the grid; the new institutional and regulatory environment and the promotion of renewables. The performance of the market was also reviewed with particular reference to market access, mergers, acquisitions, market concentration, and the evolution of both wholesale and retail electricity prices. It was concluded that in order to bring about effective competition in the long run, the following conditions would be required: complete ownership separation of the transmission grid from generation and supply in all countries and sub-markets; adequate capacity

  15. Renewable energy and energy efficiency in liberalized European electricity markets

    International Nuclear Information System (INIS)

    Wohlgemuth, Norbert

    2000-01-01

    Given the projected growth in global energy demand, renewable energy (RE) and energy efficiency (EE) play a crucial role in the attainment of the environmental dimension of sustainable development. Policy mechanisms to promote RE and EE have been justified on the rationale of market failure, which prevents price signals alone from being sufficient to induce consumers to implement the socially optimal level. The paper shows driving forces for increasing competition in the electricity supply industry and discusses the implication of electricity industry liberalisation on RE/EE activities. Policies of the European Commission to promote RE/EE are presented, including a more detailed description of the experience made in the United Kingdom. Conclusions are that the new market structure may be too short sighted to stimulate RE and EE activities and that the design of policies should be compatible with the new market-orientated structure of the electricity industry. If implemented properly, and compatible with the competitive market organisation, electricity supply liberalisation could pave the way for 'sustainable electricity' in the European Union. (Author)

  16. Defining European Wholesale Electricity Markets. An 'And/Or' Approach

    International Nuclear Information System (INIS)

    Dijkgraaf, E.; Janssen, M.C.W.

    2009-09-01

    An important question in the dynamic European wholesale markets for electricity is whether to define the geographical market at the level of an individual member state or more broadly. We show that if we currently take the traditional approach by considering for each member state whether there is one single other country that provides a substitute for domestic production, the market in each separate member state has still to be considered a separate market. However, if we allow for the possibility that at different moments in time there is another country that provides a substitute for domestic production, then the conclusion should be that certain member states do not constitute a separate geographical market. This is in particular true for Belgium, but also for The Netherlands, France, and to some extent also for Germany and Austria. We call this alternative approach the 'and/or' approach.

  17. The single European energy market: the electricity supply sector

    International Nuclear Information System (INIS)

    Halliwell, A.A.

    1991-01-01

    The completion of the Internal Market in the Community by the end of 1992 has become a key objective and the focal point of the revival of the European Community. Within this overall objective, the development of the Single European Energy Market, the Internal Energy market, is a major element. The energy objectives for the Community, adopted in 1986 by the Council of Ministers and relating to targets in the energy sector to be achieved by 1995, contain what are effectively the aims of the Internal Energy Market. This is in a reference to the need for greater integration, free from barriers to trade, of the Internal Energy Market with a view to improving security of supply, reducing costs and improving economic competitiveness. In the light of these aims, the Commission drew up, in 1988, an inventory of potential obstacles to the achievement of the Internal Energy Market. This was accepted by the Council, together with a list of suggested priority areas of work, and has formed the basis of the Commission's efforts to move forward as quickly as possible in the development of the Internal Energy Market, in all branches of the energy sector. The impact on the electricity sector, in particular, is considered here. (author)

  18. Transmission capacities and competition in Western European electricity market

    International Nuclear Information System (INIS)

    Spiridonova, Olga

    2016-01-01

    The integration of national electricity markets into a single European one is expected to reduce the ability of dominant players to exercise market power. This paper investigates whether or not existing transmission capacities of cross-border interconnectors are sufficient to achieve this result and create vigorous competition in the market. A model with two decision levels is used. On the first level profit maximizing generators play Cournot game against each other. On the last level the system operator clears the market and determines flows in the network to maximize social welfare subject to a set of physical constraints. As each strategic generator anticipates her impact on equilibrium prices and congestion in the system, her optimization problem is subject to equilibrium constraints from the system operator's problem. The analysis demonstrates that interconnector capacities in Western Europe are insufficient for integration alone to reduce the exercise of market power. I compare several possible competition-enhancing policies: expansion of interconnectors and different scenarios of national markets’ restructuring. I show that although increase of line capacity is a useful tool to stimulate competition in an integrated market, it is not a substitute for the restructuring of large players. - Highlights: •The ability of integration to reduce market power depends on transmission capacities. •In the model firms compete in quantities, know their impact on prices and congestion. •In Western Europe integration will not diminish market power. •Line extension stimulates competition but is not a substitute for the regulation.

  19. Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

    International Nuclear Information System (INIS)

    Santos, Gabriel; Pinto, Tiago; Morais, Hugo; Sousa, Tiago M.; Pereira, Ivo F.; Fernandes, Ricardo; Praça, Isabel; Vale, Zita

    2015-01-01

    Highlights: • Definition of an ontology allowing the communication between multi-agents systems. • Social welfare evaluation in different electricity markets. • Demonstration of the use of the proposed ontology between two multi-agents systems. • Strategic biding in electricity markets. • European electricity markets comparison. - Abstract: The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform provides the means for the exemplification of the usefulness of this ontology. A case study using the proposed multi-agent platform is presented, considering a scenario based on real data that simulates the European Electricity Market environment, and comparing its performance using different market mechanisms. The main goal is to demonstrate the advantages that the integration of various market models and simulation platforms have for the study of the electricity markets’ evolution

  20. Energy efficiency and performance indicators of European electricity market

    Directory of Open Access Journals (Sweden)

    Constantin DUGULEANĂ

    2015-06-01

    Full Text Available The electric power system plays a vital role in the development of every country, ensuring the “fuel” which feeds its economic motor. The efficient functioning of this motor is essential for economy. The efficiency and the performances of electric power systems are reflected on the living level of population, through the money spent and the satisfaction level of their needs. The continuity of power distribution process, the good communication between the suppliers and consumers, the promptitude of interventions, the environment protection - all these are aspects characterizing the performance level of power distribution systems. The paper analyzes the evolution of quality indicators of power distribution systems both for countries’ level and for population on European market of electricity.

  1. European electricity markets reforms: the 'visible hand' of public coordination

    International Nuclear Information System (INIS)

    Finon, Dominique; Roques, Fabien

    2013-01-01

    The paper investigates how proposed reforms on policies to maintain generation adequacy and encourage clean technology investments in a number of European countries modify the role of the market. In these reforms the government, regulator and system operator take on explicit planning and coordination responsibilities with the introduction of capacity mechanisms and long-term support for clean technologies. We highlight the interactions of these mechanisms with the electricity market and how they reallocate risks between generators, government and consumers. The different mechanisms offer varying degrees of autonomy to generators with regards to investment decisions. In a prospective way, the paper also explores how designs of these different mechanisms might converge towards a unified technology neutral mechanism in the long-run. This could involve auctioning of long-term contracts for all types of existing and new capacities, whether it is low carbon or fossil fueled. (authors)

  2. Competition in the European electricity markets – outcomes of a Delphi study

    International Nuclear Information System (INIS)

    Makkonen, Mari; Pätäri, Satu; Jantunen, Ari; Viljainen, Satu

    2012-01-01

    Internal European electricity markets are a target set by the European Union (EU) and under development at present. This article presents the findings of a Delphi study focusing on the prospects of European electricity markets. The main aim is to report the obstacles that participants in the survey felt were the most critical ones affecting competition in the European electricity markets of the future. The respondents were European electricity market specialists, and the themes of the survey ranged from transmission networks and electricity trade to demand flexibility. One of the key findings was shared concern over the adequacy of transmission network capacity in Europe. It was considered that technical issues, such as existing transmission network bottlenecks, are most likely to form obstacles to creating common European electricity markets if new capacity is not built quickly enough. It was seen by the panellists that electricity trading arrangements, whilst important, are unlikely to form a barrier to the development of an internal electricity market. It was noted that electricity trading issues have recently been the subject of development work in the EU. - Highlights: ► The internal electricity market is a priority of the European Union. ► The Delphi method was used to study competition in the European electricity markets. ► The congested grid hampers the development of internal electricity markets in Europe. ► The significance of a transmission network will be emphasised in the future. ► Electricity trading arrangements are likely to be solved.

  3. Market power in the European electricity market - The impacts of dry weather and additional transmission capacity

    International Nuclear Information System (INIS)

    Lise, Wietze; Hobbs, Benjamin F.; Hers, Sebastiaan

    2008-01-01

    This paper uses a static computational game theoretic model of a fully opened European electricity market and can take strategic interaction among electricity-producing firms into account. The model is run for a number of scenarios: first, in the baseline under perfect competition, the prices differ due to the presence of various generation technologies and a limited ability to exchange electricity among countries. In addition, when large firms exercise market power, the model runs indicate that prices are the highest in countries where the number of firms is low. Second, dry weather would increase the prices in the hydro-rich Nordic countries followed by the Alpine countries. The price response would be about 20% higher with market power. Third, more transmission capacity would lower the prices in countries with high prices and it also reduces the impact of market power. Hence, more transmission capacity can improve market competitiveness. (author)

  4. Market power in the European electricity market - The impacts of dry weather and additional transmission capacity

    Energy Technology Data Exchange (ETDEWEB)

    Lise, Wietze [IBS Research and Consultancy, Agahamami Cadessi 1/6, Aga Han, Cihangir, 34433 Beyoglu, Istanbul (Turkey); Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands); Hobbs, Benjamin F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, MD 21218 (United States); Hers, Sebastiaan [Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands)

    2008-04-15

    This paper uses a static computational game theoretic model of a fully opened European electricity market and can take strategic interaction among electricity-producing firms into account. The model is run for a number of scenarios: first, in the baseline under perfect competition, the prices differ due to the presence of various generation technologies and a limited ability to exchange electricity among countries. In addition, when large firms exercise market power, the model runs indicate that prices are the highest in countries where the number of firms is low. Second, dry weather would increase the prices in the hydro-rich Nordic countries followed by the Alpine countries. The price response would be about 20% higher with market power. Third, more transmission capacity would lower the prices in countries with high prices and it also reduces the impact of market power. Hence, more transmission capacity can improve market competitiveness. (author)

  5. A game theoretic model of the Northwestern European electricity market-market power and the environment

    NARCIS (Netherlands)

    Lise, W.; Linderhof, V.G.M.; Kuik, O.; Kemfert, C.; Ostling, R.; Heinzow, T.

    2006-01-01

    This paper develops a static computational game theoretic model. Illustrative results for the liberalising European electricity market are given to demonstrate the type of economic and environmental results that can be generated with the model. The model is empirically calibrated to eight

  6. A game theoretic model of the Northwestern European electricity market-market power and the environment

    International Nuclear Information System (INIS)

    Lise, Wietze; Linderhof, Vincent; Kuik, Onno; Kemfert, Claudia; Ostling, Robert; Heinzow, Thomas

    2006-01-01

    This paper develops a static computational game theoretic model. Illustrative results for the liberalising European electricity market are given to demonstrate the type of economic and environmental results that can be generated with the model. The model is empirically calibrated to eight Northwestern European countries, namely Belgium, Denmark, Finland, France, Germany, The Netherlands, Norway, and Sweden. Different market structures are compared, depending on the ability of firms to exercise market power, ranging from perfect competition without market power to strategic competition where large firms exercise market power. In addition, a market power reduction policy is studied where the near-monopolies in France and Belgium are demerged into smaller firms. To analyse environmental impacts, a fixed greenhouse gas emission reduction target is introduced under different market structures. The results indicate that the effects of liberalisation depend on the resulting market structure, but that a reduction in market power of large producers may be beneficial for both the consumer (i.e. lower prices) and the environment (i.e. lower greenhouse gas permit price and lower acidifying and smog emissions)

  7. Th european market of the electric power; Le marche europeen de l'electricite

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

    This document presents the CRE (commission of the Electric power Control) progress report concerning the first july 2000 to the 30 june 2001. Three main subjects are discussed, illustrated by economic data and graphs: the electric power european market, the french market control and the CRE. A special interest is given to the deregulation of the market and its consequences. (A.L.B.)

  8. Th european market of the electric power; Le marche europeen de l'electricite

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

    This document presents the CRE (commission of the Electric power Control) progress report concerning the first july 2000 to the 30 june 2001. Three main subjects are discussed, illustrated by economic data and graphs: the electric power european market, the french market control and the CRE. A special interest is given to the deregulation of the market and its consequences. (A.L.B.)

  9. The role of power exchanges for the creation of a single European electricity market: market design and market regulation

    International Nuclear Information System (INIS)

    Boisseleau, F.

    2004-01-01

    The electricity sector worldwide is undergoing a fundamental transformation of its institutional structure as a consequence of the complex interactions of political, economic and technological forces. The way the industry is organized is changing from vertically integrated monopolies to unbundled structures that favor market mechanisms. This process in Europe, known as the liberalization process, has had a wide impact on the European electricity industry. The focus of this dissertation is an analysis of the role of electricity power exchanges in the recently liberalized electricity markets of Europe. In the context of creating a competitive electricity market at a European level, the key questions considered are the functioning of these power exchanges with respect to electricity characteristics, market design and regulatory framework. In Europe, very little attention has been paid to the role of these new marketplaces and to the issue of market design in general. Hence the main purpose of this work was to analyze how these marketplaces facilitate the trading of electricity and the role they can play in the construction of a pan-European competitive electricity market. An analysis of power exchange requires taking into account the 'double-duality' of such institutions. One, power exchanges are both a market and an institution. As a market they facilitate the trading of electricity and determine an equilibrium price. As an institution power exchanges have their own objectives and constraints, and play a role in the market design of the overall electricity market. Two, the relationship between electricity power exchanges and liberalization is neither linear nor one way: liberalization encourages the birth of such marketplaces yet marketplaces are more than the results of such process, they are also a driving force of the liberalization process. This thesis is divided into three parts. The current situation in Europe and different existing theoretical approaches in

  10. The European electricity market. What are the effects of market power on prices and the environment? Keywords: Electricity market; liberalisation; market power; game theory; environmental impacts; Northwestern Europe

    International Nuclear Information System (INIS)

    Lise, W.

    2005-07-01

    This paper presents a static computational game theoretic COMPETES model. This model is used to study the economic and environmental effects of the liberalisation of the European electricity market. The COMPETES model takes strategic interaction into account. The model is calibrated to four European countries: Belgium, France, Germany and the Netherlands. To analyse the impact of emission trading, a fixed permit price per tonne CO2 emissions is introduced. The effects are studied under different market structures depending on the ability of firms to exercise market power. The results indicate that the effects of liberalisation depend on the resulting market structure, while a reduction in market power of large producers may be beneficial for the consumer (i.e. lower prices), this is not necessarily true for the environment (i.e. lower reduction in CO2 emissions)

  11. The liberalisation of the European electricity market : an unstructured restructuring process?

    International Nuclear Information System (INIS)

    Boisseleau, F.; Hakvoort, R.

    2005-01-01

    The European Union (EU) directive 96/92/EC defines common rules for the generation, transmission and distribution of electricity, paving the way for the liberalization of the electricity markets of EU member states. Member states are obliged to open their national electricity supply markets, meaning that eligible customers can choose their own suppliers. This paper discussed the process by which the countries of the EU have restructured their electricity markets, arguing that the process has focused on legal and organizational issues, rather than specific prescriptions for the economic design of the market. Although the objective of the EU directive was to create a competitive market, restructuring has led to 15 or more fragmented markets, each liberalized to a different degree and shaped following a wide range of different principles. Areas where the EU has failed to provide a coherent market view were discussed. Issues concerning short-term market arrangements, congestion management and long-term investment were examined. Section 1 of the paper focused on policy issues in the liberalization process, while section 2 emphasized the importance of market design. Section 3 addressed the need for market monitoring and the issue of market power. It was concluded that liberalization is only one step in the process that alone cannot deliver the expected benefits of single integrated European-wide market. At present, the European electricity market is hindered by a lack of proper design and sufficient transparency. 32 refs., 3 tabs., 4 figs

  12. The design of tomorrow's European electricity market; Das europaeische Strommarktdesign der Zukunft

    Energy Technology Data Exchange (ETDEWEB)

    Kranner, Karl; Sharma, Stephan [Verbund AG, Wien (Austria). Geschaefststeuerung und Marketing

    2013-01-15

    In today's times of rising feed-in rates from renewable energy and competing market models, the need for an integrated European energy market is growing ever more urgent. The first phase of liberalisation of the European electricity markets was marked by the development of national sub-markets which differed in their degree of liberty. Due to network bottlenecks at the borders, substantial price differences were seen to arise between market regions, with the exception of those between Germany and Austria. This leads to the question as to how the integration of the internal European energy market can best be brought about. A six-point programme elaborated by Verbund AG banks on market mechanisms rather than regulation as a means of strengthening the electricity market.

  13. The current situation and mid-term prospects for European electricity markets

    International Nuclear Information System (INIS)

    Helm, Dieter

    2013-01-01

    This analysis of the current situation and mid-term prospects for European electricity markets presents: the objectives of energy policy, the historical legacy, the attempts at European integration and the Internal Energy Market (IEM), the coming of the Climate Change Package, the impact of the world economic and Euro-zone crises, the impact of shale gas and the new world of fossil fuel abundance, the impact of renewables on emissions, the impact of renewables on electricity markets, the EU emissions trading system (EU ETS) and the renewables and the electricity markets, the coming of capacity crunch in some cases, the capacity markets, the return of central buyers and national energy policies, and what is to be done for the world electricity markets

  14. Reassessing the integration of European electricity markets: A fractional cointegration analysis

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.

    2016-01-01

    This study extends existing literature on the assessment of electricity market integration in Europe, by developing and testing hypotheses on the convergence of electricity wholesale prices, and adopting a time-varying fractional cointegration analysis. In addition, the potential impacts of some special events that may affect system capacity (new interconnection, market coupling, increase in share of intermittent generation) on spot and forward markets are considered and evaluated. Daily spot prices from February 2000 to March 2013 of nine European electricity spot markets (APX-UK, APX-NL, Belpex, EPEX-FR, EPEX-DE, IPEX, Nordpool, Omel and OTE) and month-ahead prices in four markets (French, British, German and Dutch) from November 2007 to December 2012 are investigated. Results show that unit root tests, which are generally used in the literature to test market integration, are inadequate for assessing electricity spot market convergence, because spot prices are found to be fractionally integrated and mean-reverting time series. Furthermore, spot price behaviour and their association with different markets change over time, reflecting changes in the EU electrical system. One-month-ahead prices, by contrast, were found to have become more resilient to shocks and to follow more stable trends. - Highlights: • We examine electricity market convergence in the EU. • Common price dynamics are affected by changes in interconnection and capacity. • Forward markets have increased in resilience. • Germany's nuclear plant closures had an adverse effect on most European electricity markets.

  15. The electricity prices in the European Union. The role of renewable energies and regulatory electric market reforms

    International Nuclear Information System (INIS)

    Moreno, Blanca; López, Ana J.; García-Álvarez, María Teresa

    2012-01-01

    The European Union electricity market has been gradually liberalized since 1990s. Theoretically, competitive markets should lead to efficiency gains in the economy thus reducing electricity prices. However, there is a controversial debate about the real effects of the electricity liberalization on electricity prices. Moreover, the increased generation of electricity from renewable energies RES-E (Electricity from Renewable Energy Sources) is also integrated in wholesale market reducing wholesale prices, but the final effect over household prices is not clear. In order to contribute to this debate, this paper provides an empirical investigation into the electricity prices determinants. In fact we develop econometric panel models to explore the relationship between the household electricity prices and variables related to the renewable energy sources and the competition in generation electricity market. More specifically we use a panel data set provided by Eurostat and covering 27 European Union countries during the period 1998–2009. Our results suggest that electricity prices increase with the deployment of RES-E and with the expansion of greenhouse gas emissions produced by energy industries- as a European Union CO 2 emission trading scheme exists. Results also reveal that country's characteristics can affect household electricity prices. -- Highlights: ► Electricity liberalized markets should lead to reduce electricity prices. ► The use of renewable energies (RES) reduce wholesale electricity prices. ► However, household electricity prices are increasing in European Union. ► Panel data models are developed to investigate the effect of RES and electricity competition on household electricity prices. ► We find that the deployment of RES increases prices paid by consumers in a liberalized market.

  16. The opening up to competition of European electricity markets: genesis and perspectives of an ambitious project

    International Nuclear Information System (INIS)

    Pellion, Antoine

    2007-01-01

    This article first describes the European dynamic of the construction of electricity markets. It outlines the economic and competitive logics which are the base of the liberalisation of electricity markets, and do not aim at suppressing a public service. This encompasses the search for an optimal market as economic aim, and an incentive to the opening by community law. It describes the implementation of the liberalisation process with a harmonisation at the European scale, and still different and partitioned markets. It outlines that the expected price decrease did not occur. The electricity pricing is presented as a complex process, and the sustained increase of production costs is outlined. It also outlined that this market has strengthened structural imperfections: a scarcity rent largely accessible to market powers, a strong trend to short term investment behaviour. On the other hand, environmental efficiency has a positive assessment. The next part proposes an overview of possible actions for the development and regulation of European markets: a network to be expanded and densified with better performance and a more competitive market for the benefit of the consumer, a scarcity rent which requires a market framing, a new orientation for the use of this rent. The coordination of electricity production is outlined as a necessary element for a European energy policy

  17. Industrial DSM in a deregulated European electricity market - a case study of 11 plants in Sweden

    International Nuclear Information System (INIS)

    Trygg, Louise; Karlsson, B.G.

    2005-01-01

    In 2004 Sweden will become part of a common European electricity market. This implies that the price of electricity in Swedish will adapt to a higher European electricity price due to the increase in cross-border trading. Swedish plant is characterized as more electricity-intensive than plant on the European continent, and this, in combination with a higher European electricity price will lead to a precarious scenario. This paper studies the energy use of 11 plants in the municipality of Oskarshamn in Sweden. The aim is to show how these plants can reduce their electricity use to adapt to a European level. We have found that the plants could reduce their use of electricity by 48% and their use of energy by 40%. In a European perspective, where coal-condensing power is assumed to be the marginal production that alters as the electricity demand changes, the decrease in the use of electricity in this study leads to a reduction in global emissions of carbon dioxide of 69,000 tonne a year. Electricity generated in Sweden emits very low emissions of carbon dioxide and have thus consequently very low external cost. The freed capacity in Sweden could therefore replace electricity generated with higher external cost and as a result lower the total external cost in Europe. The emissions from the saved electricity could also be valuable within the EU emissions trading scheme, if the emissions calculation is done assuming the marginal electricity is fossil fuel based

  18. Towards a single European electricity market : A structured approach to regulatory mode decision-making

    NARCIS (Netherlands)

    De Jong, H.M.

    2009-01-01

    This study focuses on the processes through which the rules and regulations that govern European electricity markets - and inherently, their integration process - are established. So far, European policy makers have largely followed a 'trial-and-error' approach to finding an appropriate regulatory

  19. European Short-term Electricity Market Designs under High Penetration of Wind Power

    NARCIS (Netherlands)

    Chaves Avila, J.P.

    2014-01-01

    The EU has ambitious policies for decarbonization of the electricity sector. Due to recent technological developments, wind power already represents a significant share of the generation mix in some European countries. As a result, short-term electricity markets and balancing arrangements must be

  20. Towards a single European electricity market. A structured approach to regulatory mode decision-making

    International Nuclear Information System (INIS)

    De Jong, H.M.

    2009-01-01

    This study focuses on the processes through which the rules and regulations that govern European electricity markets - and inherently, their integration process - are established. So far, European policy makers have largely followed a 'trial-and-error' approach to finding an appropriate regulatory mode (process) for dealing effectively with market integration issues. This unstructured approach to regulatory mode selection leads to several problems: - Today's trial-and-error strategy of shifting from one regulatory mode to another is time-consuming. - In the regulatory mode selection process, certain key principles of good governance are insufficiently considered. - European regulatory processes are experienced as vague, intransparent, and illegitimate by 'outside' stakeholders. This study develops a 'structured approach to regulatory mode decision-making' (STARMODE) based on the theory of decision modelling in policy management and a case study exploring three key market integration issues in the field of electricity markets: interconnector investment, congestion management and market transparency. The main objective is to present a systematic and comprehensive framework for analysing and improving regulatory mode decision-making in the context of the European Union, focusing on electricity market integration. The STARMODE approach is generally applicable to (and relevant for) European market integration issues in industries characterized by a natural monopoly and/or an essential service. The approach may also contribute to national regulatory mode decision-making and multi-state decision-making in other continents.

  1. Hedging with futures: an application of GARCH to european electricity markets

    OpenAIRE

    G. Zanotti; G. Gabbi; M. Geranio

    2009-01-01

    European electricity markets have been subject to a broad deregulation process in the last few decades. We analyse hedging policies implemented through different hedge ratios estimation. More specifically we compare naïve, ordinary least squares, and GARCH conditional variance and correlations models to test if GARCH models lead to higher variance reduction in a context of high time varying volatility as the case of electricity markets. Our results show that the choice of the hedge ratio esti...

  2. Congestion management in the European electricity market; Engpassmanagement im Europaeischen Strommarkt

    Energy Technology Data Exchange (ETDEWEB)

    Dieckmann, Birgit

    2008-11-24

    The author of the contribution under consideration reports on an assessment of methods of congestion management employed in Europe with respect to their effectiveness and identify possible reasons for the misallocation of cross-border transmission capacity. For this, generation structures of European countries and the resulting prices and load flows are analysed. Different power plants and bottlenecks in the transmission network currently cause structural price differences due to a low degree of integration of European electricity markets. By means of congestion management, the formation of a uniform electricity market will be created.

  3. Unified electricity market

    International Nuclear Information System (INIS)

    Anon

    2011-01-01

    A unified European electricity market means a unification and harmonisation of functioning of the national electricity market into one European Market or into one entity. It gives an opportunity to Slovenske elektrarne to open room for their wider activity within Europe where common rules for cross-boarder trade and markets functioning will apply. (author)

  4. Do Decision 2003/54/EC and Decision no. 1229/2003/EC result in a European market for electricity?

    International Nuclear Information System (INIS)

    Wenting, F.

    2004-01-01

    In the summer of 2003 the European Parliament and the European Council issued a new Directive with respect to the internal market for electricity (Directive 2003/54/EC of the European Parliament and of the Council of 26 June 2003 concerning common rules for the internal market in electricity) and Guidelines for trans-European networks in the energy sector (Decision no. 1229/2003/EC). The question is whether these decisions will lead to a European and free market for electricity. It is concluded that this is not yet the case [nl

  5. Integration and shock transmissions across European electricity forward markets

    International Nuclear Information System (INIS)

    Bunn, Derek W.; Gianfreda, Angelica

    2010-01-01

    New results are presented relating to the integration of the French, German, British, Dutch and Spanish power markets at day-ahead, week-ahead, one month-ahead and two month-ahead lead times. Overall, there is evidence of market integration, increasing over time, despite an underlying inefficiency in each market with respect to the forward and spot price convergence. The spatial analysis, on a financial dimension, is undertaken using causality tests, cointegration and impulse-response techniques, for both price levels and volatilities. In general we find less influence of the size and proximity of neighbouring markets than other studies, more integration at baseload than peak, and, surprisingly, less integration in forwards than spot prices. (author)

  6. CRE answer to the European Commission public consultation on the new electricity market design

    International Nuclear Information System (INIS)

    Ladoucette, Philippe de

    2015-01-01

    On July 15, 2015, the European Commission launched a public consultation on the new Electricity Market Design. All National Regulatory Authorities (NRAs), and CRE in particular, contributed to the joint ACER-CEER response to the consultation. CRE supports this joint response, and further develops some topics in this document, building on its particular experience in the implementation of the internal energy market: implementation of the network codes, in particular those regarding the markets, development of demand-side flexibility, development of interconnections, and alignment of fragmented balancing markets

  7. Market power in the European electricity market-The impacts of dry weather and additional transmission capacity

    Energy Technology Data Exchange (ETDEWEB)

    Lise, Wietze [IBS Research and Consultancy, Agahamami Cadessi 1/6, Aga Han, Cihangir, 34433 Beyoglu, Istanbul (Turkey); Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands)], E-mail: wietze.lise@ibsresearch.com; Hobbs, Benjamin F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, MD 21218 (United States); Hers, Sebastiaan [Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands)

    2008-04-15

    This paper uses a static computational game theoretic model of a fully opened European electricity market and can take strategic interaction among electricity-producing firms into account. The model is run for a number of scenarios: first, in the baseline under perfect competition, the prices differ due to the presence of various generation technologies and a limited ability to exchange electricity among countries. In addition, when large firms exercise market power, the model runs indicate that prices are the highest in countries where the number of firms is low. Second, dry weather would increase the prices in the hydro-rich Nordic countries followed by the Alpine countries. The price response would be about 20% higher with market power. Third, more transmission capacity would lower the prices in countries with high prices and it also reduces the impact of market power. Hence, more transmission capacity can improve market competitiveness.

  8. Liberalising European electricity markets: opportunities and risks for a sustainable power sector

    International Nuclear Information System (INIS)

    Ringel, M.

    2003-01-01

    The process of liberalising European electricity markets, encompassing a wide range of restructuring activities, has mainly been spurred by the attempt to increase the economic efficiency of the whole sector. This process might be used to trigger a development towards a sustainable power sector by increasing the use of renewable energy sources and enhancing energy efficiency on the supply and demand side. However, by taking a closer look at the current trends of the European electricity markets, it becomes obvious that the liberalisation not only implies opportunities but also risks for the creation of a sustainable power sector. Many of these risks are due to market distortions and imperfections caused by the delay in creating a fully functional single European market. Thus, in the short-term, the market liberalisation tends to constitute more risks than opportunities without government actions to prevent these risks. In the long run, though, the efficiency gains of the sector and the appearance of new market factors are likely to bring forth the opportunities of liberalisation and actively foster a transformation towards a sustainable electricity sector. (author)

  9. Enabling demand response by extending the European electricity markets with a real-time market

    NARCIS (Netherlands)

    Nyeng, P.; Kok, K.; Pineda, S.; Grande, O.; Sprooten, J.; Hebb, B.; Nieuwenhout, F.

    2013-01-01

    The EcoGrid concept proposes to extend the current wholesale electricity market to allow participation of Distributed Energy Resources (DERs) and domestic end-consumers in system balancing. Taking advantage of the smart grid technology, the EcoGrid market publishes the real-time prices that entail

  10. Forecasting day ahead electricity spot prices: The impact of the EXAA to other European electricity markets

    OpenAIRE

    Ziel, Florian; Steinert, Rick; Husmann, Sven

    2015-01-01

    In our paper we analyze the relationship between the day-ahead electricity price of the Energy Exchange Austria (EXAA) and other day-ahead electricity prices in Europe. We focus on markets, which settle their prices after the EXAA, which enables traders to include the EXAA price into their calculations. For each market we employ econometric models to incorporate the EXAA price and compare them with their counterparts without the price of the Austrian exchange. By employing a forecasting study...

  11. Competition in European electricity markets: a cross-country comparison

    International Nuclear Information System (INIS)

    Glachant, J.-M.; Finon, D.

    2003-01-01

    In 1988, the European Commission floated the idea of liberalising the power sector as the key to improving competition and creating jobs in Western Europe, and many reforms have taken place since then. This book examines and evaluates those changes drawing on 12 specific countries. An introductory chapter presents an overview of the typology of institutional structure, approaches to reform, industrial response and progress. The heart of the book looks at three separate areas, viz. the northerners, western-central, and southern and Latin Europe. A dozen chapters by 21 writers present an analysis of the issues faced in dealing with the reforms. The book discusses price convergence and why this cannot be forced. Both practical and academic perspectives are dealt with

  12. Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

    DEFF Research Database (Denmark)

    Santos, Gabriel; Pinto, Tiago; Morais, Hugo

    2015-01-01

    The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators...... have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models......, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform...

  13. Concentration in the European electricity industry: The internal market as solution?

    International Nuclear Information System (INIS)

    Domanico, Fabio

    2007-01-01

    This article offers an analysis of the present competitive and regulatory framework of the European electricity sector and the results achieved with the liberalisation process. Considering the reactions of incumbents to the liberalisation, the focus in this work is mainly on the problem of market concentration in the sector. The new trends toward the creation of 'national champions' as well as recent mergers between gas suppliers and electricity producers raise serious concerns about abuses of market power and risk of future collusion. In particular, the strategic linkage of existing markets and the expansion into new ones are analyzed in the light of the multimarket contact theory. Considering investment in interconnection among Member States, the internal market issue is investigated as a solution to the 'risks' coming from liberalisation

  14. Concentration in the European electricity industry: The internal market as solution?

    Energy Technology Data Exchange (ETDEWEB)

    Domanico, Fabio [Department of Economics, Luiss Guido Carli University, 1, Via O. Tommasini, 00162 Roma (Italy)

    2007-10-15

    This article offers an analysis of the present competitive and regulatory framework of the European electricity sector and the results achieved with the liberalisation process. Considering the reactions of incumbents to the liberalisation, the focus in this work is mainly on the problem of market concentration in the sector. The new trends toward the creation of 'national champions' as well as recent mergers between gas suppliers and electricity producers raise serious concerns about abuses of market power and risk of future collusion. In particular, the strategic linkage of existing markets and the expansion into new ones are analyzed in the light of the multimarket contact theory. Considering investment in interconnection among Member States, the internal market issue is investigated as a solution to the 'risks' coming from liberalisation. (author)

  15. Development of a model for integrated simulation of the European transmission networks and electricity markets

    International Nuclear Information System (INIS)

    Rathke, Christian

    2013-01-01

    The liberalisation of electricity markets and the increase of renewable energy generation actually causes dramatic changes for the whole European power industry. The transmission system operators in particular have to meet the challenge to ensure a stable and reliable system operation in the future. Significant changes in power generation will require a substantial extension to current inadequate original transmission grids to handle increased wide area power flows. This is the only way to avoid overloading the grid and to reduce the herefrom resulting limitations for the Pan-European cross-border trade of electricity. This work describes in detail the development of a Pan-European integrated grid and an electricity market simulation tool. For this purpose an overview about the today's structure of the European electricity industry is given initially. Afterwards the configuration of the transmission grid, the used equipment and different methods for the load flow and short circuit calculation are explained. Furthermore models for the calculation of local loads and the power plant dispatch are presented in the following chapters. Following on from this a detailed model of the European electricity industry is developed and the main functions are described by means of some exemplary simulations. The simulation tool developed in this work enables the user to calculate realistic power plant schedules and the consequent resulting physical effects on the European transmission grid. It combines a time series based simulation of the electricity market with a detailed model of the transmission grid. The highly detailing of the model offers the feasibility to execute a complete AC load flow calculation using the Newton Raphson algorithm.Therefore it is possible to identify the active as well as the reactive power flows in the grid. The results of the power flow calculation are the basis for further investigations (e. g. the short circuit calculation) and to decide on

  16. Defining European Wholesale Electricity Markets. An 'And/Or' Approach

    Energy Technology Data Exchange (ETDEWEB)

    Dijkgraaf, E. [Erasmus School of Economics, Erasmus University Rotterdam, Rotterdam (Netherlands); Janssen, M.C.W. [University of Vienna, Vienna (Austria)

    2009-09-15

    An important question in the dynamic European wholesale markets for electricity is whether to define the geographical market at the level of an individual member state or more broadly. We show that if we currently take the traditional approach by considering for each member state whether there is one single other country that provides a substitute for domestic production, the market in each separate member state has still to be considered a separate market. However, if we allow for the possibility that at different moments in time there is another country that provides a substitute for domestic production, then the conclusion should be that certain member states do not constitute a separate geographical market. This is in particular true for Belgium, but also for The Netherlands, France, and to some extent also for Germany and Austria. We call this alternative approach the 'and/or' approach.

  17. Survey of Regulatory and Technological Developments Concerning Smart Metering in the European Union Electricity Market

    OpenAIRE

    VASCONCELOS, Jorge

    2008-01-01

    Smart metering is a crucial factor for the efficient functioning of the Internal Electricity Market, as well as for the successful implementation of European Union policies related to energy efficiency, renewable energy and security of supply. The report first outlines the potential benefits of smart meters for consumers, suppliers, metering companies, distribution network operators and public interest. Next the report provides a short overview of the legal framework governing metering activi...

  18. European utility requirements: common rules to design next LWR plants in an open electricity market

    International Nuclear Information System (INIS)

    Berbey, Pierre; Ingemarsson, Karl-Fredrik

    2004-01-01

    The major European electricity producers want to keep able to build new nuclear power plants and they believe 3. generation LWRs would be the most adapted response to their needs in the first decades of this century. Producing a common European Utility Requirement (EUR) document has been one of the basic tasks towards this objective. In this common frame, standardized and competitive LWR NPPs could be developed and offered to the investors. This idea is now well supported by all the other actors on the European electricity market: vendors, regulators, grid managers, administrations although in the competitive and unified European electricity market that is emerging, the electricity producers' stakes are more and more different from the other electricity business actors'. The next term objectives of the electricity producers involved in EUR are focused on negotiating common rules of the game together with the regulators. This covers the nuclear safety approaches, the conditions requested to connect a plant to a HV grid, as well as the design standards. Discussions are going on between the EUR organization and all the corresponding bodies to develop stabilized and predictable design rules that would meet the constraints of nuclear electricity generation in this new environment. Finally there cannot be competition without competitors. The EUR organization has proven to be the right place to establish trustful relationship between the vendors and their potential customers, through fair assessment of the proposed designs performance vs. the utility needs. This will be continued and developed with the main vendors present in Europe, so as to keep alive a list of 4 to 6 designs 'qualified', i.e. showing an acceptable score of non-compliance vs. EUR. (authors)

  19. Impact of the carbon price on the integrating European electricity market

    International Nuclear Information System (INIS)

    Aatola, Piia; Ollikainen, Markku; Toppinen, Anne

    2013-01-01

    We study the impact of the carbon price on the integrating electricity market in the EU. Our theoretical framework suggests that the price of carbon has a positive but uneven impact on electricity prices depending on the marginal production plant. The carbon price may increase price differences in the short run. We apply time series analysis on daily forward data from 2003 to 2011 and investigate whether we can find empirical evidence for our analytical findings. Our results support the hypotheses that integration in electricity prices has increased over time and that the carbon price has a positive but uneven impact on the integration of prices. - Highlights: • We model the integrating European electricity market under emissions trading scheme. • We examine the impact of carbon price on the electricity market prices. • We test theoretical hypotheses with econometric models. • Results show carbon price has a positive but uneven impact on electricity prices. • Integration among electricity prices has increased during 2003–2011

  20. Liberalisation of the European Electricity Industry: Internal Market or National Champions?

    Energy Technology Data Exchange (ETDEWEB)

    Domanico, F.

    2007-07-01

    This article offers an analysis of the present competitive and regulatory framework of the European electricity sector. Considering the complexity of this industry, the focus in this work is mainly on the problem of market concentration of incumbents in the sector as a result of the liberalisation process. The new trend toward the creation of ''national champions'' as well as recent mergers between gas suppliers and electricity producers raised serious concerns about abuses of market power and risks of future collusion. Taking account of investment in interconnection as well as other international and regional experiences, the internal market issue is investigated as the solution to the''risks'' from liberalisation. (auth)

  1. The increasing role of the visible hand in European electricity markets

    International Nuclear Information System (INIS)

    Finon, Dominique

    2013-05-01

    In this article, the author discusses the fact that the ambitious objective of de-carbonation of electric power systems is in increasing tension with the objective of a deeper power market liberalisation in the European Union. This can be noticed in the case of renewable energies which are promoted through purchase tariffs or through mandatory green certificates. Thus, risks are carried by operators, whereas it was not the case in the previous public service monopoly situation. The author describes market and regulation failures which result in a discouragement of investments in renewable energies and in low carbon technologies. Then, he presents three types of tools which combine public coordination and long term arrangements. In the next part, adopting an institutional prospective approach, he examines how new institutional means will have to complement the long term coordination of the market when this coordination is progressively faded by a large scale deployment of electric power produced from renewable energy sources and low carbon technologies

  2. Renewable electricity market developments in the European Union. Final Report of the ADMIRE REBUS project

    International Nuclear Information System (INIS)

    Uyterlinde, M.A.; Daniels, B.W.; De Noord, M.; De Vries, H.J.; De Zoeten - Dartenset, C.; Skytte, K.; Meibom, P.; Lescot, D.; Hoffmann, T.; Stronzik, M.; Gual, M.; Del Rio, P.; Hernandez, F.

    2003-10-01

    Which countries offer the best markets for renewables? Are present support policies sufficient to meet the EU (European Union) renewables target for 2010? Which renewable technologies will have the largest growth in the present decade? The ADMIRE REBUS project has addressed these questions by giving an outlook on the future of electricity from renewable energy sources. The ADMIRE REBUS project team has analysed the market barriers, support policies and potentials for renewable electricity production in Europe. For these analyses a new tool was developed that simulates the development of the European renewable electricity market under different policy scenarios. The report starts with describing the approach and key assumptions used in the analysis. Next, an overview is provided of EU legislation and different support policies for renewable energy. After a brief overview of the different challenges that an investor faces when investing in renewable energy technologies with respect to lead times, risks and transaction costs, several policy scenarios for the future are discussed. Next, the report presents ADMIRE REBUS model analyses of different policy strategies for meeting the targets stated in the EU Renewables Directive. The report continues the analysis of model results with presenting prospects for individual technologies and market prices under different scenarios. Next, case studies are presented for four different EU Member States. The analysis results are put into perspective by a sensitivity analysis. Finally, conclusions are drawn and recommendations are formulated based on the above

  3. Perspectives for long-term competition in the central European electricity market

    International Nuclear Information System (INIS)

    Haas, Reinhard

    2005-01-01

    In this paper we focus on the Central European electricity market and analyse whether liberalization, deregulation, and privatization are sufficient to bring about real competition. Moreover, we discuss the relevance of the following conditions to bring about real competition and to avoid market power: 1) A rigorous correct un bundling; 2) excess capacities in transmission; 3) excess capacities in generation; 4) a large number of generators and suppliers; 5) the balanced existence of short-term (e.g. spot markets) and long-term markets (e.g. bilateral contracts, forwards); 6) full liberalization; Some major findings of this analysis are: 1) Currently, demand is continuously increasing while capacities are shut down. At least in 2009 demand will have caught up with generation capacities. This could lead to severe price spikes. 2) The Central European electricity market is separated from other markets by means of limited transmission capacities; 3) With respect to effective competition in Central Europe the major problems are: i) a very small (and continuously decreasing) number of generators, and ii) a lack of serious un bundling between generation and transmission mainly in Germany; This leads to cross-subsidization of generation by the network operation and to a heavy discrimination of other and new generators; 4) Moreover, a crucial condition for active competition is a sufficiently large transmission grid. Yet, currently especially at the border to the new EU member countries transmission capacities are rather scarce and there are no signs of extensions of the grid. This also limits the access of countries with potential excess capacities like Ukraine, Bulgaria, Romania to the Central European market The major conclusion of this analysis is: All conditions investigated above must be fulfilled simultaneously to bring about a competitive electricity market in Western Europe and the extended European Union. If only one of these conditions is missing, competition

  4. Competition for transparency as a carrier of competition. Transparency needs in the European wholesale electricity markets

    International Nuclear Information System (INIS)

    Jong, Hanneke de; Hakvoort, Rudi

    2005-01-01

    This paper analyses different transparency aspects regarding European wholesale electricity markets and discusses transparency issues to be solved. In Europe, currently some progress has been made with respect to market transparency but transparency issues related to transmission, system operation and regulation have received little attention so far. Transmission system operators (TSOs) and regulatory authorities need certain market information in order to secure efficient competition. However, TSOs and regulatory authorities need to communicate themselves in order to facilitate competition and decrease uncertainty among market participants. Furthermore, considering ongoing market integration both TSOs and regulatory authorities must exchange information amongst themselves in order to facilitate coordination and monitoring activities. The effect of a higher level of transparency on effective competition is depended on two categories of transparency aspects: aspects that are related to transparency in the sense of open and adequate communication (perspicuity) and aspects that are related to the easiness to understand (clarity). Transparency includes both aspects. Pursuing overall harmonization of the European transparency level is important to fully profit from a higher level of (international) harmonization. Effective harmonization requires harmonization on all communication aspects. For Europe, with its many immature markets, the dilemma remains whether it is preferable to have less transparency with a high level of harmonization or to have a higher level of transparency but a lower level of harmonization. (Author)

  5. Environmental challenges and opportunities of the evolving North American electricity market : European electricity generating facilities: an overview of European regulatory requirements and standardization efforts

    International Nuclear Information System (INIS)

    Nichols, L.

    2002-06-01

    Several factors are affecting power generating facilities, such as the opening of both electricity and gas markets, and the pressure applied on generators and governments to ensure a steady energy supply for consumers. An additional factor is the pressure for the closing of nuclear power facilities. European siting and emissions requirements for coal-fired and natural gas generating facilities were presented in this background paper. In addition, the author provided an overview of the standardization process in place in Europe. The European Union and its functioning were briefly described, as well as a listing of relevant organizations. The current trends were examined. The document first introduced the European Union, and the next section dealt with Regulatory regime: the internal energy market. The third section examined the issue of Regulatory regime: generation and environmental regulations. Section four presented environmental management systems, followed by a section on standardization. Section six discussed European organizations involved in electricity issues, while the following section dealt with European commission programs. The last section briefly looked at the trends in the electricity sector, broaching topics such as compliance, electricity generation, and emissions trading. 52 refs., 2 tabs

  6. Operating an EPR: A strong asset in the future European electricity market

    International Nuclear Information System (INIS)

    Esteve, Bernard; Beutier, Didier

    2006-01-01

    Recently, two nuclear units have been decided in Europe, both EPR 1,600 MWe. In Finland, TVO Company decided to commission a reactor in 2009 on Olkiluoto site. The license was granted in February 2005 and the construction started in summer. In 2004 in France, EDF Company decided an EPR to be commissioned in 2012 at Flamanville. In both cases, national Parliament vote has given the green light. It is interesting to understand why each company has made such decision. In TVO case, the main driving factor seems to be the need of industrial consumers for low and stable electricity price in a context of growing excess demand. In EDF case, no short term demand, but rather long term electricity company strategy seems to be the main reason. The relation to national energy policy is very clear in both cases. In Finland, the 5. Nuclear Power Plant was decided: - as a key element of the energy mix to meet growing electricity needs while replacing older plants, - to ensure, together with renewables, the fulfillment of the Kyoto commitments, - to secure stable and predictable electricity price for intensive industrial consumers (for instance, paper mills), - to reduce the dependence on electricity import. Here, it is argued more broadly that EPR will be a strong asset in the future European electricity market. To support this argument, we shall describe: 1) to what extent the evolving European electricity market may call for new nuclear units, 2) specific design features explaining why EPR especially fits with expectations, 3) cost assessments giving the conditions of EPR competitiveness, 4) main elements of risk assessment and how they are dealt with. (authors)

  7. Evaluating the application of different pricing regimes and low carbon investments in the European electricity market

    International Nuclear Information System (INIS)

    Oggioni, Giorgia; Smeers, Yves

    2012-01-01

    The EU-ETS is the first measure initiated by the EU to contribute to the decarbonization of the European energy sector. It is a cap and trade system that requires industries participating to the program to procure allowances to cover their emissions. Electricity Intensive Industries (EIIs) have complained that the system put their European plants at disadvantage compared to facilities located outside the EU. They have asked for actions to mitigate this effect; one of them is to have access to long term contracts with electricity suppliers, ideally with those operating carbon free plants. This paper presents and illustrates a method for assessing the impact of this measure on EIIs participating to the EU cap and trade system. We model a power market segmented in two consumer groups EIIs and the rest of the market (N-EIIs). These two groups are subject to different price regimes: EIIs purchase electricity from dedicated base-load power plants at average cost price, while N-EIIs are supplied at marginal cost. The French Exeltium and the Belgian Blue Sky consortia are existing examples of this market organization. The expanse of the territories that can be covered by these systems depends on the organization of transmission organization and on national energy position relative to carbon free generation. We examine two different types of long term average cost based contracts that differ by the organization of transmission and study their impact under different national energy policies. We formulate the problem of operations and investment in this market as a spatial equilibrium model where generators can invest in new capacity subject to different regional constraints. Transmission is organized according to a “flow based” approach as foreseen by Regulatory Authorities and Transmission System Operators in Europe. We also examine the impact of nuclear policies. CO 2 emission allowances are auctioned and tradable. We describe the models and discuss their policy

  8. A plausible congestion management scheme for the internal electricity market of the European Union

    International Nuclear Information System (INIS)

    Perez-Arriaga, I.J.; Olmos, L.

    2005-01-01

    This paper proposes a scheme for the management of network congestion in the Internal Electricity Market (IEM) of the European Union. This scheme tries to combine the rigor in the treatment of the energy and transmission capacity transactions with the flexibility and pragmatism that are necessary to make the scheme compatible with the current diversity of regulatory approaches and market structures in the Member States participating in the IEM. First, a reference scheme is presented with a complete formulation that jointly deals with the energy and capacity markets. Because of the implementation difficulties of this conceptually ideal approach, a more pragmatic scheme is proposed instead. The core of this scheme is an explicit auction mechanism that must be run prior to any short-term (daily, typically) energy markets. In this auction, where only transmission capacity is traded, both bilateral contracts and energy bids to Power Exchanges can participate in order to acquire the capacity that is necessary to carry out their transactions. Some technical issues related to the practical implementation of the proposed approach are also examined; these include market liquidity, the financial or physical nature of the long-term contracts, the potential problems of 'slicing' transmission capacity and the allocation of congestion rents. Market power issues are ignored. (author)

  9. A plausible congestion management scheme for the internal electricity market of the European Union

    Energy Technology Data Exchange (ETDEWEB)

    Perez-Arriaga, I.J.; Olmos, L. [Universidad Pontificia Comillas, Madrid (Spain). Instituto de Investigacion Tecnologica

    2005-06-01

    This paper proposes a scheme for the management of network congestion in the Internal Electricity Market (IEM) of the European Union. This scheme tries to combine the rigor in the treatment of the energy and transmission capacity transactions with the flexibility and pragmatism that are necessary to make the scheme compatible with the current diversity of regulatory approaches and market structures in the Member States participating in the IEM. First, a reference scheme is presented with a complete formulation that jointly deals with the energy and capacity markets. Because of the implementation difficulties of this conceptually ideal approach, a more pragmatic scheme is proposed instead. The core of this scheme is an explicit auction mechanism that must be run prior to any short-term (daily, typically) energy markets. In this auction, where only transmission capacity is traded, both bilateral contracts and energy bids to Power Exchanges can participate in order to acquire the capacity that is necessary to carry out their transactions. Some technical issues related to the practical implementation of the proposed approach are also examined; these include market liquidity, the financial or physical nature of the long-term contracts, the potential problems of 'slicing' transmission capacity and the allocation of congestion rents. Market power issues are ignored. (author)

  10. Distributed generation in European electricity markets. Current challenges and future opportunities

    Energy Technology Data Exchange (ETDEWEB)

    Ropenus, S. (Technical Univ. of Denmark, Risoe National Lab. for Sustainable Energy. Systems Analysis Div., Roskilde (Denmark))

    2010-07-01

    This Ph.D. thesis studies the role of distributed generation in European electricity markets. It focuses primarily on the interactions of economics and policy with the aim of contributing to the understanding of how distributed generation is embedded in the present regulatory and market framework, which barriers exist, and which role it may possibly play in the future. To capture the interdisciplinarity of the topic, a combination of qualitative and quantitative methods is applied. Subsequent to the identification of barriers, this thesis turns to the microeconomic perspective on the interplay of vertical structure, regulation and distributed generation. This is done through the application of quantitative methods in the form of partial equilibrium models focusing on the effects induced by the vertical structure of the network operator, either a combined operator or a distribution system operator, in a market with small distributed producers. In areas where the promotion of renewable energy sources and combined heat and power has induced a substantial increase in distributed generation, new challenges in system integration arise. In particular, high levels of generation from intermittent energy sources, such as wind, add to the complexity of network operation and control, which can hardly be tackled with the present 'fit and forget' approach. The conclusion is that distributed generation has great potential to enhance competitiveness, sustainability and security of supply in European electricity markets. A prerequisite is the removal of market and regulatory barriers, taking the interdependencies of vertical structure, support mechanisms and network access into account. In the future, higher penetration levels of distributed generation necessitate changes in the power system and the adoption of new technologies, where hydrogen production by grid connected electrolysis constitutes one example. (LN)

  11. Research document no. 24. The integration of european electric markets: from the national markets juxtaposition to the establishment of a regional market

    International Nuclear Information System (INIS)

    Finon, D.

    2000-11-01

    After the transcription of the electricity directive in national legislations, the European electricity market appears to be a vast set of juxtaposed markets which are weakly connected at the level of their wholesale contracts compartment. Referring to the technological peculiarities of electricity as a commodity, the paper identifies the direct conditions of regional integration of the electricity markets, those which would favour cross-border trade and allow to be near the normal functioning of a regional commodity market. The infrastructure network dependence and the need of a stringent technical coordination necessitate to unify the operation of the different systems and the rules of access, or at the least to come near this unification by strong coordination. A second major condition, which is not fully debated, is the increasing connexion of short-term markets, via daily physical trade and emergence of a European financial market, which could trade various standardised contracts referring to a single hourly spot price, or to prices in various delivery points. To reach such an integration, two paths are possible: either concentration into one single organised power exchange as the Nordic pool, or rules harmonization of the various power exchanges which would be a minimal requirement to allow arbitrations between them. (author)

  12. The emergence of distributed generation in a liberalizing european electricity market

    International Nuclear Information System (INIS)

    Habay, P.; Pariente David, S.

    1999-01-01

    The liberalization, of the European electricity market accelerates the market entry of innovative small scale power generation and communication technologies applicable for a competitive power supply offering. The pressure of competition will push incumbent utilities as well as new entrants to tap any source of economic efficiencies in order to secure a competitive advantage and sufficient margins. The integration of a power generation unit on site or close to end-user premises without additional constraint for end-user is a potential source of economic efficiency. These systems enable to meet the needs of end-users at an attractive price and, beyond this, to free capacities for power exchange through the grid. These new practices lay the basis for distributed generation business which should experience significant growth in Europe over the next decade assuming that technologies meet efficiencies as announced. (authors)

  13. Financial incentives to promote renewable energy systems in European electricity markets: a survey

    International Nuclear Information System (INIS)

    Haas, R.; Huber, C.; Wohlgemuth, N.

    2001-01-01

    Renewable energy systems may contribute to sustainable development. Therefore, one of the challenges for energy policy is to ensure that renewable energy options have a fair opportunity to compete with other supply resources. This paper presents a survey on promotion mechanisms to enhance the market penetration of renewable energies in European electricity markets. Strategies include rebates and tax incentives, regulated rates, system benefit charges, bidding-oriented mechanisms and various types of green pricing programs. The paper concludes that efficient promotion mechanisms should focus on incentives per kWh generated rather than on rebates on the investment in generating capacity (kW), and that there is no one single program type which has the best application to the promotion of all renewable technologies. For example, enhanced buy-back rates work as a dissemination strategy for wind energy but they do not work for photovoltaics. (author)

  14. Electricity and gas interconnections in France. A tool for the construction of an integrated European market

    International Nuclear Information System (INIS)

    2016-06-01

    The French Energy Regulator (CRE) is publishing its report on French electricity and gas interconnections. The report makes two main conclusions: French electricity and natural gas networks are well interconnected with their counterparts in neighbouring countries and the use of interconnections has been significantly improved over the last 10 years. In terms of electricity, France's average export capacity is 13.5 GW, i.e. more than 10% of its production capacity. France is very well integrated in the European gas market and is a transit country to Spain and Italy. It has boosted its interconnection capacity in gas by 40% in 10 years. Interconnections are vital to the internal energy market and help trade between Member States. They enable European consumers to benefit from cost-effective energy by diversifying sources of supply. Since it was created, the CRE has played a leading role in this area, by fostering the development of interconnections at the French borders and by making them more efficiently used. After major efforts, the question of creating new interconnections (which constitute complex and costly projects) is now being raised. In terms of gas, the Midcat Project (a new gas interconnection between France and Spain) provides a good illustration of this question. The project will cost almost 3 billion Euros, two billion of which is being funded by France, and the decision to launch it should not be taken lightly without robust cost-benefit analyses. These studies must, in particular, identify and quantify the benefits for each country concerned as well as for the European Union, and organise the project funding in relation to these benefits. As concerns the interconnection project in the Bay of Biscay between France and Spain, overcoming technical uncertainties is an essential prerequisite before commenting on the opportunities it offers in terms of the costs and benefits that it might generate. In compliance with the law, the CRE acts on behalf of

  15. Towards a unified European electricity market: The contribution of data-mining to support realistic simulation studies

    DEFF Research Database (Denmark)

    Pinto, Tiago; Santos, Gabriel; Pereira, Ivo F.

    2014-01-01

    Worldwide electricity markets have been evolving into regional and even continental scales. The aim at an efficient use of renewable based generation in places where it exceeds the local needs is one of the main reasons. A reference case of this evolution is the European Electricity Market, where...... countries are connected, and several regional markets were created, each one grouping several countries, and supporting transactions of huge amounts of electrical energy. The continuous transformations electricity markets have been experiencing over the years create the need to use simulation platforms...... to support operators, regulators, and involved players for understanding and dealing with this complex environment. This paper focuses on demonstrating the advantage that real electricity markets data has for the creation of realistic simulation scenarios, which allow the study of the impacts...

  16. Time-varying convergence in European electricity spot markets and their association with carbon and fuel prices

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.; Tamvakis, Michael

    2016-01-01

    Long-run dynamics of electricity prices are expected to reflect fuel price developments, since fuels generally account for a large share in the cost of generation. As an integrated European market for electricity develops, wholesale electricity prices should be converging as a result of market coupling and increased interconnectivity. Electricity mixes are also changing, spurred by a drive to significantly increase the share of renewables. Consequently, the electricity wholesale price dynamics are evolving, and the fuel–electricity price nexus that has been described in the literature is likely to reflect this evolution. This study investigates associations between spot prices from the British, French and Nordpool markets with those in connected electricity markets and fuel input prices, from December 2005 to October 2013. In order to assess the time-varying dynamics of electricity spot price series, localized autocorrelation functions are used. Electricity spot prices in the three markets are found to have stationary and non-stationary periods. When a trend in spot prices is observed, it is likely to reflect the trend in fuel prices. Cointegration analysis is then used to assess co-movement between electricity spot prices and fuel inputs to generation. The results show that British electricity spot prices are associated with fuel prices and not with price developments in connected markets, while the opposite is observed in the French and Nordpool day-ahead markets. - Highlights: • Electricity market integration policies may have altered EU spot electricity prices. • LACF is used to assess the changing nature of electricity spot prices. • EU electricity spot prices show both stationary and non-stationary periods. • Carbon and fuel prices have greater impact on British spot prices. • In continental Europe, electricity prices have decoupled from fuel prices.

  17. Regulation of distributed generation. A European Policy Paper on the Integration of Distributed Generation in the Internal Electricity Market

    International Nuclear Information System (INIS)

    Van Sambeek, E.J.W.; Scheepers, M.J.J.

    2004-06-01

    In the SUSTELNET project criteria and guidelines have been developed that can create a level playing field in electricity markets between distributed generation (DG) and large scale power generation and will improve the network and market access of DG and electricity supply from renewable energy resources (RES). This report focuses on the European dimensions of DG regulation. The key findings of the SUSTELNET project are compared with the EU legislation, i.e. the current Electricity, Renewables and CHP Directives. Additional EU policy, regulation and initiatives are identified that can help Member States in developing future economically efficient and sustainable electricity supply systems

  18. The unknown story of the European carbon market: an archaeology of the electrical sector

    International Nuclear Information System (INIS)

    Cartel, Melodie; Aggeri, Franck; Caneill, Jean-Yves

    2017-01-01

    In economic literature, the creation of the European carbon market is presented as a major institutional innovation that can be viewed as a direct application of economic theory. In this article, we propose another version of how the European carbon market came about that emphasizes the active role played by companies. For a period of three years, these companies designed and tested a prototype carbon market, while being observed by European experts. Drawing on archive documents, we analyze this experimentation process and examine in detail its influence on the European carbon market. We then discuss the role of companies in the processes of institutional innovation, a process that generally remains invisible. Finally it is explained how such experiments, conducted in protected spaces, can facilitate the design and testing of new concepts

  19. How to make a European integrated market in small and isolated electricity systems? The case of the Canary Islands

    International Nuclear Information System (INIS)

    Perez, Yannick; Ramos Real, Francisco Javier

    2008-01-01

    This paper presents a geographic dimension not often studied in the dynamics of creating an internal market for electricity within the European Union, namely the case of small European electricity systems like those found on the Greek islands of Cyprus and Crete. Our question, then, is how to achieve a suitable internal market for electricity in small and isolated systems. To address this issue, we identify the main problems to be overcome by introducing a methodology in which the Canary Islands experience is taken as a case study for understanding the challenges in creating an 'EU-like market for electricity'. Our results show that the design of the vertical industrial structure and the figure of the grid operator and its attributes are key features for the proper operation of any electrical system. We also stress the minor roles of other possible options to achieve this EU-compatible market by highlighting first, in the wholesale market, the call-for-tender solution to introduce more generation and the risk of using safety requirements as barriers to entry in these small markets, and second, in the supply activities, the potential problems of an improperly regulated tariff scheme. (author)

  20. Cross-border integration in the European electricity market. Evidence from the pricing behavior of Norwegian and Swiss exporters

    International Nuclear Information System (INIS)

    Balaguer, Jacint

    2011-01-01

    This paper examines the electricity market integration process in two European areas based on the pricing behavior of Norwegian and Swiss exporters. The aim is to gain evidence for the period after the adoption of the 'Second Legislative Package' (2003). The pricing behavior of Norwegian exporters indicates that the wholesale markets for Denmark and Sweden are highly integrated. Moreover, results are fully compatible with the existence of a very competitive marketplace for electricity. This clearly contrasts with the evidence provided by Swiss exporters. In this last case, analysis revealed differences in pricing-to-market behavior between Italy, France and Germany, which indicates that exporters take advantage of international market segmentation and divergences between market structures. This outcome provides a reasonable explanation as to why price differences between countries cannot be fully attributed to transmission costs, as has been claimed in previous research. We also found cross-country convergence in levels of markups and in pricing-to-market behavior of the Swiss exporters for the first part of the period that was analyzed. The evidence is fully consistent with an initial impulse toward market integration originated by reforms implemented at the beginning of the last decade. - Highlights: → We exploit a model based on pricing-to-market behavior. → Price discrimination by Swiss exporters is found. → Nordic electricity markets are found to be already highly integrated. → Market integration was recently improved in continental area. → Results are consistent with reforms under the 'Second Legislative Package'.

  1. Cross-border integration in the European electricity market. Evidence from the pricing behavior of Norwegian and Swiss exporters

    Energy Technology Data Exchange (ETDEWEB)

    Balaguer, Jacint, E-mail: jacint.balaguer@eco.uji.es [Department of Economics, Universitat Jaume I, 12071 Castellon (Spain)

    2011-09-15

    This paper examines the electricity market integration process in two European areas based on the pricing behavior of Norwegian and Swiss exporters. The aim is to gain evidence for the period after the adoption of the 'Second Legislative Package' (2003). The pricing behavior of Norwegian exporters indicates that the wholesale markets for Denmark and Sweden are highly integrated. Moreover, results are fully compatible with the existence of a very competitive marketplace for electricity. This clearly contrasts with the evidence provided by Swiss exporters. In this last case, analysis revealed differences in pricing-to-market behavior between Italy, France and Germany, which indicates that exporters take advantage of international market segmentation and divergences between market structures. This outcome provides a reasonable explanation as to why price differences between countries cannot be fully attributed to transmission costs, as has been claimed in previous research. We also found cross-country convergence in levels of markups and in pricing-to-market behavior of the Swiss exporters for the first part of the period that was analyzed. The evidence is fully consistent with an initial impulse toward market integration originated by reforms implemented at the beginning of the last decade. - Highlights: > We exploit a model based on pricing-to-market behavior. > Price discrimination by Swiss exporters is found. > Nordic electricity markets are found to be already highly integrated. > Market integration was recently improved in continental area. > Results are consistent with reforms under the 'Second Legislative Package'.

  2. Wholesale electricity markets in Europe

    International Nuclear Information System (INIS)

    Rios, J. L.

    2010-01-01

    Electricity Wholesale Markets provide efficient operation of power stations, facilitate hedging instruments for generators and retailers and deliver price signals for new investments. Despite having a common regulatory framework at European level whose last aim is a single electricity market, Wholesale markets have been unevenly developed in each Member State. The evolution form a spot-based market towards a forward-based market needs a certain level of liquidity, transparency and regulatory stability. Interconnections are the key element to promote the integration of electricity markets. To facilitate this, European Regional Initiatives have pushed regulatory harmonization between countries and market coupling projects. (Author)

  3. Effects of national energy policies on carbon dioxide emissions in a European internal electricity market: Results from a simulation model of the European power systems

    OpenAIRE

    Hoster, Frank

    1997-01-01

    This article considers the economic and environmental (in terms of CO2) effects of national energy policies in a European Single Market for electricity. It was found that the combined CO2/Energy-tax proposed by the European Commission would be able to stabilise the current volume of CO2-emissions in the electricity sector. A national single handed effort in introducing a CO2-tax to reduce the emissions was found to be ineffective in the long term and would be in addition allocative inefficien...

  4. Horizon 2000: Vision of the development of a custom-oriented electric power market in a European perspective

    International Nuclear Information System (INIS)

    Anon.

    1993-10-01

    After a perspective on the development in the seventies and eighties in chapter one, it is stated that, given the developments in the field of liberalization and the manifest internationalization of the European electricity market (chapter two), the Dutch electricity sector is not yet ready for an open European market (chapter three). A revision of the present electricity model does not seem to be the right method, because of the built-in contradictions and the reactive manner in which new developments can be handled (chapter four). Therefore, at this crossroad a new starting point has to be chosen in order for the Dutch electricity sector to be able to handle the developments in a pro-active way. At the same time this offers a solution to the instability, which threatens to the Dutch electricity market as a result of the fast growth of cogeneration capacity. In the new vision Horizon 2000 (outlined in chapters 5-9) the focus is shifted from central planning and cost pooling to customer-orientation within an open market. The market parties get, on the basis of autonomous responsibilities, multiple buying and selling options. A stepwise implementation of Horizon is explained in chapter 10, while the consequences of the market model Horizon 2000 are indicated as positive in chapter eleven. It must be stressed that this report is meant to be a working paper, open for discussion. Both the vision on the market and its consequences for the organization model have to be elaborated in more detail. 30 figs., 27 tabs.,

  5. European electricity markets - policy deficiencies, design deficiencies, and opportunities for policy-makers

    International Nuclear Information System (INIS)

    Bettzuge, Marc Oliver

    2013-11-01

    Paraphrasing a well-known dictum, one can say that 'design follows policies'. Therefore, before discussing questions of market design, one has to clarify the policies which the desired market design is supposed to implement. Hence, this paper starts by briefly reviewing the status of current policies for the electricity sector. Specifically, it will discuss political objectives, the choice of the basic regulatory paradigm, and the issue of subsidiarity between the EU and the member states

  6. Security of Supply: A Pan-European Approach - The Opportunities and Requirements of Greater Cooperation Across European Electricity Markets

    International Nuclear Information System (INIS)

    Ulreich, S.

    2015-01-01

    In December 2014, Prognos AG (Berlin/Basel) was commissioned by the Weltenergierat - Deutschland e.V to prepare a study on the potential of greater cooperation across European electricity markets. The focus of the analysis was to address the extent to which closer cooperation on ensuring generation adequacy can lead to cost reductions. Fifteen countries were analysed: seven members of the Pentalateral Energy Forum (PLEF, DE, BE, NL, LU, FR, AT and CH) and eight additional bordering countries (PL, IT, UK, ES, DK, CZ, PT and IE). Today, ensuring generation adequacy takes place at a national level and international effects are not taken into account. However, if cross-border effects are considered adequacy considerations at a national level can be relieved, e.g.: load peaks in Europe do not occur simultaneously and the feedin from renewable energy takes place at different times. Potential savings arise, as less capacity needs to be secured by conventional power plants. An indicator for this in the present study is the so-called residual load. The study is based on analyses of all existing data relating to hourly load and feed-in from renewable energy for the period from 2009 to 2014. In addition, two scenarios (based on Visions V1 and V3 of ENTSO-E's System Outlook and Adequacy Forecast) and numerous sensitivities for 2030 were generated. As the variability of the results is highly dependent on weather conditions, 48 simulations of wind power (sensitivities) established a broad corridor of results. For this reason, ranges are used in the presentation of results. The approach makes this study the most comprehensive analysis to date of the potential of closer cooperation with respect to ensuring generation adequacy. With the assumption of no grid congestion, the study reaches the following results: 1) Reduction of residual load: In contrast to a national assessment scheme, under a collective assessment scheme the residual load will reduce by 2 to 15 gigawatts (most

  7. EdF competing in the European electricity market. Interview with Francois Ailleret, Electricite de France, Paris

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    The French nuclear power program was pushed through in order to reduce the country's dependence on imported fossil sources of energy. Nuclear power and hydro power have achieved a level of self-sufficiency in the energy sector of more than 50%. It should be emphasized that the French nuclear power program was largely self-financed. Electricite de France (EdF) considers itself well prepared for the European market, provided the creation of the single market implies that electricity rates are taken as a yardstick of competitiveness. Negotiations about a European directive on deregulating the electricity market were for the government to hold. EdF pleaded in favor of preserving for each country a certain leeway for shaping its own policy. The road to deregulation was to be opened, but the specific situation of each country was to be taken electricity to be passed through imposes narrow constraints upon an expansion of exchanges of electricity, and public acceptance is not very likely to be achieved for the construction of new international high voltage transmission lines. (orig.) [de

  8. The role of power exchanges for the creation of a single European electricity market. Market design and market regulation

    NARCIS (Netherlands)

    Boisseleau, F.

    2004-01-01

    The electricity sector worldwide is undergoing a fundamental transformation of its institutional structure as a consequence of the complex interactions of political, economic and technological forces. The way the industry is organized is changing from vertically integrated monopolies to unbundled

  9. A model of the European electricity market. What can we learn from a geographical expansion to EU20?

    International Nuclear Information System (INIS)

    Lise, W.; Hobbs, B.F.

    2005-09-01

    This paper presents the static computational game theoretic COMPETES (COmprehensive Market Power in Electricity Transmission and Energy Simulator) model version 2.0. This model can be used to study various policy question regarding economic and environmental effects of a fully opened European electricity market. The COMPETES model can take strategic interaction among electricity producing firms into account. The strategic behaviour of generation companies can be reflected in the conjectures each company holds regarding the supply response of rival companies. These response functions simulate expectations concerning how rivals will change their electricity sales when prices change; these expectations determine the perceived profitability of capacity withholding and other strategies. In addition, COMPETES can solve the market outcome under price and quantity competition. COMPETES can also represent different systems of transmission pricing, among them fixed transmission tariffs, congestion-based pricing of physical transmission, and auction pricing of interface capacity between countries. CO2 costs can be brought in as an exogenous variable. In this paper the COMPETES model is calibrated to twenty European countries, EU20 for short, namely Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, UK/England and Wales. These countries have been chosen because they are geographically adjoined, their electricity networks are well connected (UCTE, Nord Pool, UK), they are members of the European Union (except for Norway and Switzerland) and data is quite reliable (which would for instance not be the case for the Balkan countries). The level of detail in the COMPETES model is quite extensive. The model contains various characteristics of 7531 power plants in the EU20 area (acquired from the database on World Energy Power Plants). These

  10. Integration of wind energy in the Dutch electricity system in the context of the Northwestern European market for electricity. Final report

    International Nuclear Information System (INIS)

    Benz, E.; Hewicker, C.; Moldovan, N.; Stienstra, G.; Van der Veen, W.

    2010-04-01

    A study was conducted of the integration of large volumes of wind energy in the Dutch electricity system in the context of a Northwest European electricity market for the year 2020. This study contributes to answering the questions that are at the centre of the project 'Fuel mix'. The following aspects are addressed: the capacity to combine large volumes of wind energy in the Dutch electricity system with the use of CHP; the impact of electricity costs; the influence on CO2 emissions and fuel use; the correlation between the electricity production of CHP units; wind parks and coal-fired plants. In this study the Dutch electricity system is simulated in connection with the framework of the regional electricity market in Northwest Europe for the year 2020. The conducted simulations are based on perfect competition with the marginal cost price of the production units as offer price in the electricity market. To this end the chronological production simulation model (PLEXOS) was used, which takes into account the dynamic operational management and limitations of the electricity plants and the transmission grid. [nl

  11. Radical change of the European electricity market. The challenges and opportunities for large operators

    International Nuclear Information System (INIS)

    Caperan, L.

    2000-01-01

    Electricite de France (EDF) generates and sells 460 TWh to around 30 million customers in France and 17 million abroad. Owing to the opening of the electricity markets all electricity producers must review their company policy and their technical and economic strategies. It is a question of survival - but this development also opens up new possibilities. Competition is a source of progress and a quantum leap in terms of quality: Reduced costs for customers, greater range of services, improved product quality, the need for a good corporate image and probably, therefore, a greater commitment to the environment and certainly a better dialogue with customers and society in general. (orig.) [de

  12. Multivariate long memory processes: applications to the EDF producer problematic in the context of the european electricity market liberalization

    International Nuclear Information System (INIS)

    Diongue, A.K.

    2005-10-01

    Certain crucial financial time series, such as the interconnected european electricity market spot prices, exhibit long memory, in the sense of slowly decaying correlations combined with heteroskedasticity and periodic or none cycles. In modeling such behavior, we consider on one hand, the k factor GIGARCH process and additionally propose two methods to address the related parameter estimation problem. In each method, we explore the asymptotic theory for estimation. Moreover, the asymptotic properties are validated and compared via Monte Carlo simulations. On the other hand, we introduce a new multivariate long memory generalized model (k-factor MVGARMA) in order to model interconnected european electricity market spot prices. We suggest a practical framework to address the parameter estimation problem. We investigate the analytical expressions of the least squares predictors for the two proposed models and their confidence intervals. To finish, we apply the two proposed models to the french and german electricity market spot prices and a comparison is made between their forecasting abilities. (author)

  13. Green certificate trading in the Netherlands in the prospect of the European electricity market

    International Nuclear Information System (INIS)

    Dinica, Valentina; Arentsen, Maarten J.

    2003-01-01

    The support system for green electricity in the Netherlands has been one of the most complex and complicated systems across Europe. A voluntary trade of green certificates--or green labels--was one of the schemes used in the policy models of the 1990s. The liberalization of the electricity market has attracted substantial changes in the degree and nature of commitment by energy companies and political authorities for renewable electricity. In 2001, a new mechanism for the voluntary trade of green certificates has become operational, replacing the green label trade system one terminated in the end of 2000. This paper presents the two systems of green certificates' trade developed in the Netherlands and discusses their market stimulation potential in the very different economic and industrial circumstances that has surrounded each of them. The paper argues for a need to enable a support system that reduces investment risks as much as possible, and removes the residual, but still strong, institutional, administrative and social barriers for renewables' deployment. But before this, a clear governmental vision on the role of renewables in current energy supply systems is first needed, backed by a coherent policy and sufficient support along the economic dimension of renewables' market diffusion

  14. Volatility transmission and volatility impulse response functions in European electricity forward markets

    International Nuclear Information System (INIS)

    Le Pen, Yannick; Sevi, Benoit

    2008-01-01

    Using daily data from March 2001 to June 2005, we estimate a VAR-BEKK model and find evidence of return and volatility spillovers between the German, the Dutch and the British forward electricity markets. We apply Hafner and Herwartz [2006, Journal of International Money and Finance 25, 719-740] Volatility Impulse Response Function(VIRF) to quantify the impact of shock on expected conditional volatility. We observe that a shock has a high positive impact only if its size is large compared to the current level of volatility. The impact of shocks are usually not persistent, which may be an indication of market efficiency. Finally, we estimate the density of the VIRF at different forecast horizon. These fitted distributions are asymmetric and show that extreme events are possible even if their probability is low. These results have interesting implications for market participants whose risk management policy is based on option prices which themselves depend on the volatility level. (authors)

  15. Perspectives of new fossil-fuelled power plants with CO2 capture in the liberalised European electricity market

    International Nuclear Information System (INIS)

    Kober, Tom

    2014-01-01

    Against the background of an increasing importance of climate change mitigation and the liberalization of the European energy supply this study assesses the perspectives of power plants with Carbon dioxide Capture and Storage (CCS). CCS power plants represent one option to reduce CO 2 emissions of fossil energy based electricity production significantly. In this study the deployment of CCS power plants is investigated for the European electricity market until 2050 taking different energy and climate policy framework conditions into consideration. By applying an integrated model-based approach, structural changes of the whole energy system are incorporated, including their implications on costs and emissions. The study addresses uncertainties concerning future CCS power plant invest costs and efficiencies explicitly, and analyses the effects of changes of these parameters with respect to the perspectives of CCS power plants in Europe. Thereby, interdependencies on horizontal level related to competition of different technologies within the electricity sector are examined, but also vertical interdependencies resulting from effects between the upstream and energy demand sectors. In order to reflect the heterogeneity among the national energy systems in Europe, country specific particularities on technical aspects and energy policy are taken into account, such as potentials and costs of CO 2 storage, and national regulations on the use of nuclear power and renewable energy. The results of the analysis reveal a strong influence of the stringency of the EU greenhouse gas reduction target and the policy on the use of nuclear energy on the perspectives of CCS power plants in the European electricity market. Comparing the influence of different policy frameworks analysed in this study with the influences of the variation of the technical and economic CCS power plant parameters shows, that uncertainties concerning energy policy measures can have a stronger influence on the

  16. Evaluating the impacts of priority dispatch in the European electricity market

    International Nuclear Information System (INIS)

    Oggioni, G.; Murphy, F.H.; Smeers, Y.

    2014-01-01

    This paper compares the impact of the Nodal Pricing and European Market Coupling organizations on different economic agents of the power system under two main wind policies. Under the “priority dispatch” policy, Transmission System Operators (TSOs) must accommodate all wind energy produced, which thus has the priority over energy produced by conventional plants; in the “no priority dispatch” policy, TSOs can decide not to inject all potential wind power in the grid in order to limit congestion problems. The effects of these two wind policies are measured by developing simple stochastic programming models that consider cases with different wind penetration levels, existing capacities and endogenous investments, as well as assumptions on the EU-ETS. Our computational experiments show that, when there is “priority dispatch”, Nodal Pricing and Market Coupling evolve in a similar way as long as wind penetration is not too high. In contrast, a significant increase of wind penetration causes the collapse of the Market Coupling organization while Nodal Pricing continues to perform well. On the other hand, “no priority dispatch” removes most of the problems resulting from Market Coupling, which still exhibits a slightly lower efficiency than Nodal Pricing. These outcomes do not depend on the contextual assumptions (fixed capacities vs. investment; EU-ETS vs. non EU-ETS) that characterize the several cases analyzed. This suggests that our policy conclusions are robust. Furthermore, our models overestimate the flexibility of conventional plants, which means that these conclusions would likely be reinforced with a more detailed model. - Highlights: • We compare “priority dispatch (PD)” and “no priority dispatch (NPD)” policies under EU rules. • We compare Nodal Pricing (NP) and Market Coupling (MC) architectures for power markets. • Both wind priority policies are more efficient in NP than MC. • The PD policy crashes MC when wind penetration is

  17. Methodology for the identification, evaluation and prioritization of market handicaps which prevent the implementation of Demand Response: Application to European electricity markets

    International Nuclear Information System (INIS)

    Alcázar-Ortega, Manuel; Calpe, Carmen; Theisen, Thomas; Carbonell-Carretero, José Francisco

    2015-01-01

    This paper presents a methodology for the identification, analysis and comparative assessment of the handicaps which nowadays prevent the higher implementation of Demand Response (DR) in the electricity market. Its application provides a hierarchical organization of handicaps from the most critical to the less critical and then, from the easiest to the most difficult to overcome. This makes possible to determine which barriers would be a priority, which may indicate the direction of regulatory changes to properly address these handicaps and so, stimulating a higher participation of the demand side in electricity markets. After applying the methodology to three European countries, 34 handicaps have been identified, analyzing which of these handicaps affect such stakeholders as grid operators, retailers and customers and how these stakeholders are affected. For each handicap, the criticality and difficulty to overcome the different handicaps have been studied, based on detailed information coming from personal interviews to experts representing the different stakeholders in the electricity trading chain. Regulatory barriers have been identified as the most critical and difficult to overcome. Together with regulatory changes, the promotion of aggregators and the training of customers on DR applications are some of the most significant initiatives. - Highlights: • Market handicaps prevent the application of Demand Response in electricity markets. • A methodology to identify and organize such market handicaps has been developed. • The evaluation and quantification of criticality and difficulty to overcome is done. • A hierarchical list prioritizing handicaps to be addressed is obtained. • Market handicaps of three European countries were evaluated through this methodology.

  18. Design choices for electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    De Vries, Laurens

    2007-07-01

    Ten years after the first European Electricity Directive, the goal of creating a single European electricity market has not been reached, despite concerted efforts by the EU and certain member states to continue with the reforms. The policy of subsidiarity for many aspects of market design has as a consequence that member countries are implementing a variety of different market designs and are implementing the reforms at varying speeds. The Florence regulatory process, which was intended to provide a bottom-up approach for coordination and harmonization, has effectively stalled and been replaced by a series of 'mini fora' in which smaller groups of countries work on integrating their markets. At the same time, the European electricity supply industry is facing some significant challenges. This paper investigates the different choices that can be made in the design of electricity markets, how they relate to each other and how they relate to the policy goals. (auth)

  19. Slovenian and Spanish electricity markets

    International Nuclear Information System (INIS)

    Bregar, Z.

    2004-01-01

    Spanish electricity market has served as a basic model in the construction of the electricity market in Slovenia. However, in the final phase of its development additional solutions were adopted from other European and worldwide electricity markets. The electricity market thus obtained is in some aspects more complex and in others simpler with regard to the original model. This article describes two of the new solutions on the Slovenian electricity market: the introduction of numerous standardized electric energy products (Band, Peak, Off-peak, Hourly power etc.) to be traded on completely separate markets, and the introduction of continuous, real-time type trading on all of them but the hourly market.(author)

  20. Study of the European market for industrial nuclear power plants for the mixed production of electricity and steam

    International Nuclear Information System (INIS)

    1975-01-01

    The opportunity of developing the mixed production of electricity and steam from nuclear power plants in the nine countries of the European Community is studied. Both public distribution and autonomous production are envisaged. An attempt is made to estimate the potentiel market for district heating and for chemical, agricultural and alimentary, textile, paper, car manufacture and wood industries. The reactors considered are LWR reactors of at least 1000MWth. Suggestions are given to overcome the difficulties and constraints that stand in the way of a nuclear solution [fr

  1. The state of the North-European electricity market. Attempt to a problem-oriented analysis

    International Nuclear Information System (INIS)

    Kaerrmarck, U.

    2001-11-01

    This analysis covers the period 2000-2005, plus a few longer prognoses. Most analyses that preceded the deregulation of the electricity market in Europe, held the opinion that the market, due to the important over capacity, would be characterized by a severe price competition and lead to a market restructuration with only a few large producers surviving. The need for new investments was considered to be limited. Even a growing demand for electricity would not disturb the price reductions. The development followed this scheme to a certain extent. The restructuring is taking place. The utilities EdF (France), ENI (Italy), E.On, RWE (both Germany) and Vattenfall (Sweden) are obtaining dominant positions on their largely extended markets. But the prices have been stabilized on a level above the marginal production costs, and the power surplus has been halved compared to 1998. Northern Europe is approaching a state with increasing prices and threatening power shortages. The producers have adapted to the new situation by exploiting the differences in production- and demand-structure in the different countries and the associated price differences. Producers in Germany have instead of competing with the price chosen to close down a number of plants with large investment needs and high operating costs. The energy policy of all countries in the region gives highest priority to investment in renewable energy sources, which can not replace all the capacity lost by closing fossil and nuclear power plants. The ambition of the power producers to regain control of the market and the political inclination to prioritize CO 2 -free power production has, in combination, led to a strengthening of the existing producers and denying market access for new larger actors. New base load production capacity will be needed in the long run, and investment decisions are needed in the near future, if risks for power shortages are to be avoided. Increasing prices will stimulate commercial

  2. Electric power prices, price control and competition on the European domestic electric power market. Stromtarife, Preisaufsicht und Wettbewerb im Europaeischen Binnenmarkt fuer Strom

    Energy Technology Data Exchange (ETDEWEB)

    Weigt, N

    1993-01-01

    If one speaks of electric power prices and price control in the year 1992, this subject has a different dimension than it did two or three years ago, when the new federal rate scale for electric power (ETO Elt) was drawn up and put into practice. Since the beginning of this year, a draft for guidelines which was drawn up by the EC Commission exists which, going on the assumption that the European domestic electric power market will set an example, does away with territorial protection and in the name of third party access (TPA) allows for electric power-line transit, thus introducing at least partial competition to the electric power market. We no longer think in terms of closed systems with clear-cut responsibilities in regard to power supply, which form the basis for the laws on electric power prices, the cartel laws, the practices of the electric power control board and the cartel authorities. Thus, using the new federal rate scale for electric power and its principles as formulated in Article 1 as a point of departure, developments will go in the direction of a competitive system in accordance with the ideas of the EC Commission and German free-enterprise theoreticians, as laid down for example by the deregulation commission. Thus developments will lead us away from the status quo in the direction of possible reforms, if not to say revolutionary structural changes and the consequnces which they will bring for price and cartel laws. (orig.)

  3. Balancing reserves within a decarbonized European electricity system in 2050. From market developments to model insights

    International Nuclear Information System (INIS)

    Lorenz, Casimir

    2017-01-01

    This paper expands the discussion about future balancing reserve provision to the long-term perspective of 2050. Most pathways for a transformation towards a decarbonized electricity sector rely on very high shares of fluctuating renewables. This can be a challenge for the provision of balancing reserves, although their influence on the balancing cost is unclear. Apart from the transformation of the generation portfolio, various technical and regulatory developments within the balancing framework might further influence balancing costs: i) dynamic dimensioning of balancing reserves, ii) provision by fluctuating renewables or new (battery) storage technologies, and iii) exchange of balancing reserves between balancing zones. The first part of this paper discusses and transforms these developments into quantitative scenario definitions. The second part applies these scenarios to dynELMOD (dynamic Electricity Model), an investment model of the European electricity system that is extended to include balancing reserve provision. In contrast to other models applied in most papers on balancing reserves, this model is capable of evaluating the interdependencies between developments in balancing reserve provision and high shares of fluctuating renewables jointly. The results show that balancing reserve cost can be kept at current levels for a renewable electricity system until 2050, when using a dynamic reserve sizing horizon. Apart from the sizing horizon, storage capacity withholding duration and additional balancing demand from RES are the main driver of balancing costs. Renewables participation in balancing provision is mainly important for negative reserves, while storages play an important role for the provision of positive reserves. However, only on very few occasions, additional storage investments are required for balancing reserve provision, as most of the time sufficient storage capacities are available in the electricity system.

  4. Balancing reserves within a decarbonized European electricity system in 2050. From market developments to model insights

    Energy Technology Data Exchange (ETDEWEB)

    Lorenz, Casimir [German Institute for Economic Research (DIW Berlin), Berlin (Germany). Dept. of Energy, Transportation, Environment; Univ. of Technology, Berlin (Germany). Workgroup for Infrastructure Policy (WIP)

    2017-03-30

    This paper expands the discussion about future balancing reserve provision to the long-term perspective of 2050. Most pathways for a transformation towards a decarbonized electricity sector rely on very high shares of fluctuating renewables. This can be a challenge for the provision of balancing reserves, although their influence on the balancing cost is unclear. Apart from the transformation of the generation portfolio, various technical and regulatory developments within the balancing framework might further influence balancing costs: i) dynamic dimensioning of balancing reserves, ii) provision by fluctuating renewables or new (battery) storage technologies, and iii) exchange of balancing reserves between balancing zones. The first part of this paper discusses and transforms these developments into quantitative scenario definitions. The second part applies these scenarios to dynELMOD (dynamic Electricity Model), an investment model of the European electricity system that is extended to include balancing reserve provision. In contrast to other models applied in most papers on balancing reserves, this model is capable of evaluating the interdependencies between developments in balancing reserve provision and high shares of fluctuating renewables jointly. The results show that balancing reserve cost can be kept at current levels for a renewable electricity system until 2050, when using a dynamic reserve sizing horizon. Apart from the sizing horizon, storage capacity withholding duration and additional balancing demand from RES are the main driver of balancing costs. Renewables participation in balancing provision is mainly important for negative reserves, while storages play an important role for the provision of positive reserves. However, only on very few occasions, additional storage investments are required for balancing reserve provision, as most of the time sufficient storage capacities are available in the electricity system.

  5. The European interconnection system between reality and utopia. Does the market organization fit into the electricity network?

    International Nuclear Information System (INIS)

    Stigler, H.

    2016-01-01

    On the basis of discussions about the contribution that research and innovations can make to the renewal of the electricity market, the synchronous grid of Continental Europe will be compared with the transmission network. The electricity market guidelines are put to critical consideration and the question is raised whether today's electricity market organization is sustainable in the long term. The paper concludes with regard to the usefulness of the organizational structure and the organization of the electricity markets. (rössner) [de

  6. Market Survey Turkey. Electricity Market

    International Nuclear Information System (INIS)

    2008-12-01

    The present market survey presents the Turkish power market and derives business opportunities and prospects for Dutch trade and industry. This market survey has been carried out for the following four, from time to time overlapping, sectors that have been identified by EVD as potential opportunities for Dutch small and medium-sized enterprises (SME): renewable energy, energy efficiency, electricity generation, electricity distribution

  7. Electricity regulation in Germany - in the context of the European market

    Energy Technology Data Exchange (ETDEWEB)

    Pfaffenberger, W

    1994-06-01

    Electric utilities (EU) in Germany are semi-public or private enterprises of a wide variety of size. The large producer utilities operate the high voltage grid on the basis of private contracts. Regional distribution companies mostly without a considerable share in production often in cooperation with local distributors deliver electricity (el) in the non-urban areas whereas mostly city owned EU supply the large cities often on the basis of considerable parts of autoproduction and often also with a considerable share of el produced in cogeneration plants. The equilibrium between the parts of this system in the past was ensured by a legal framework protecting local monopolies as well as long term contracts between producers and distributors. This equilibrium derived its stability from political more than from economic factors. Deregulation trends inherent in European legislation on competition have threatened this stability. - In the first phase resistance against a more competitive order seemed unanimous. In the meantime however the different actors had time to rethink their position. - The European Council has now proposed a more moderate regulation taking into account the large differences in the ESI in the different member countries. - The German Government has made a proposal for some important changes in the Energy Law and connected passages in the Competition Law, which would introduce some more competitive elements into the system without anticipating the results of a competitive process. - Wholesale producers and regional distributors as well as customer groups are in favour of this reform, whereas the local distributors fear to become the losers in the ongoing reform process. - Environmentalists express concern that a more competitive order could lead to a lowering of environmental standards. This paper gives a short survery of the ESI in Germany, its regulations and the ongoing reform. (orig.)

  8. European Competition Law in the electricity sector

    International Nuclear Information System (INIS)

    Hiller, P.

    2001-09-01

    The first part gives an overview on the implementation of the Electricity Directive 96/92 in the member states of the European Union and on the still missing preconditions for a single market in the electricity sector. The second part deals with the main elements of the European merger control (market definition, market domination), the decisions in the electricity sector and analyses the impact of the Electricity Directive 96/92 EG on future merger decisions in this sector. The third part examines the role of the articles 81 and 82 EGV to secure competition in the electricity market. (author)

  9. Regionalism versus integration of the EU electricity market : An open debate from the comparative and prospective analysis of regulatory regimes in the central European countries

    Energy Technology Data Exchange (ETDEWEB)

    Engoian, Alda; Mouchart, Christel

    2005-12-15

    The failure of integration of 25 national energy markets into an unique one has been clearly expressed by the European Commission in its last benchmarking report. This working paper investigate the question of the more appropriate and realistic market design to limit perverse effects linked to the gaps between Western and Eastern European electricity markets. The paper consists in comparing electricity regulations per segment of the value chain in the CECs (Czech Republic, Hungary, Poland, Slovakia) characterized by industrial structures stemming from the socialism. Our regulatory approach and the example of South-East Europe support the idea of regionalism as an interim stage towards a final integrated European market. This regionalism based on the Standard Market Design concept, with flexible principles, and simultaneously combined to national reforms would seem to be a ''key of success''. (Author)

  10. Regionalism versus integration of the EU electricity market : An open debate from the comparative and prospective analysis of regulatory regimes in the central European countries

    International Nuclear Information System (INIS)

    Engoian, Alda; Mouchart, Christel

    2005-01-01

    The failure of integration of 25 national energy markets into an unique one has been clearly expressed by the European Commission in its last benchmarking report. This working paper investigate the question of the more appropriate and realistic market design to limit perverse effects linked to the gaps between Western and Eastern European electricity markets. The paper consists in comparing electricity regulations per segment of the value chain in the CECs (Czech Republic, Hungary, Poland, Slovakia) characterized by industrial structures stemming from the socialism. Our regulatory approach and the example of South-East Europe support the idea of regionalism as an interim stage towards a final integrated European market. This regionalism based on the Standard Market Design concept, with flexible principles, and simultaneously combined to national reforms would seem to be a ''key of success''. (Author)

  11. The Nordic financial electricity market

    Energy Technology Data Exchange (ETDEWEB)

    2010-11-15

    NordREG is a cooperation of the Nordic energy regulators. The mission is to actively promote legal and institutional framework and conditions necessary for developing the Nordic and European electricity markets. The financial market is an important market for market participants to mitigate their risks. By providing tools for risk management, the financial market contributes to the efficient functioning of both wholesale and end-user markets. NordREG decided during 2009 to undertake a study on the Nordic financial electricity market. The aim of the report is to consider whether any improvements can be made to further increase the efficiency of the Nordic financial electricity market in order to secure an optimal price setting in the wholesale and the end-user markets

  12. Competition on European energy markets

    International Nuclear Information System (INIS)

    Lijesen, M.; Speck, S; Mulder, M.

    2003-01-01

    The launch of the Directives on Electricity and Gas in the late 1990s was the starting point for creating common and competitive energy markets in the European Union. The main goal of this process was to increase efficiency of allocation of resources and, hence,enhance consumer welfare. More specifically, increasing competition within the energy markets should lead to a reduction of energy prices and to a convergence of prices among EU member states. Within a year from now, end-users in the Netherlands will be free to choose their own supplier, thus finalising the deregulation of Dutch energy markets. What lessons may be learned from the experience thus far? What are the results of the liberalisation process up to now? How have prices developed,and can these developments be explained? How afraid should we be for the lights to go out in a competitive electricity market?

  13. European commission report on market opening

    International Nuclear Information System (INIS)

    Anon.

    2005-01-01

    Governments must step up their effort to implement measures relating to market opening within the framework of the directives on gas and electricity. Only greater integration of national markets will produce the improvements required from a competitive point of view on the domestic energy market. These are the main conclusions of the annual report on domestic electricity and gas market operation adopted by the European Commission at the beginning of January 2005. (author)

  14. Comparison of several inter-TSO compensation methods in the context of the internal electricity market of the European Union

    Energy Technology Data Exchange (ETDEWEB)

    Olmos Camacho, Luis [Instituto de Investigacion Tecnologica (IIT), ETSI ICAI, Universidad Pontificia Comillas, Alberto Aguilera 23, 28015 Madrid (Spain)]. E-mail: luis.olmos@iit.upcomillas.es; Perez-Arriaga, Ignacio J. [Instituto de Investigacion Tecnologica (IIT), ETSI ICAI, Universidad Pontificia Comillas, Alberto Aguilera 23, 28015 Madrid (Spain)

    2007-04-15

    Inter-TSO payment methods (ITC methods) provide the aggregate compensations and charges faced by countries in a region, because of the use that agents in each country make of the transmission grids of the other countries. These compensations and charges should modify local access charges in each country. The paper closely examines the most promising methods for computing ITCs presently considered in the Internal Electricity Market (IEM) of the European Union, namely the Average Participations (AP) method and the With and Without Transits (WWT) method. Some attention is also given to a third method that lies somewhere between the two previous ones: the Average Participations applied to Transits (APT) method. The performance of the AP, WWT and APT methods is compared with that of the temporary method presently applied to compute compensations in the IEM. The three methods are closely examined both from a conceptual point of view and taking into account the numerical results they produce. Based on this analysis, the AP method is proposed as the best option to compute ITCs in the European Union. The paper draws on research projects carried out for the European Commission and the Florence Regulatory Forum.

  15. Comparison of several inter-TSO compensation methods in the context of the internal electricity market of the European Union

    International Nuclear Information System (INIS)

    Olmos Camacho, Luis; Perez-Arriaga, Ignacio J.

    2007-01-01

    Inter-TSO payment methods (ITC methods) provide the aggregate compensations and charges faced by countries in a region, because of the use that agents in each country make of the transmission grids of the other countries. These compensations and charges should modify local access charges in each country. The paper closely examines the most promising methods for computing ITCs presently considered in the Internal Electricity Market (IEM) of the European Union, namely the Average Participations (AP) method and the With and Without Transits (WWT) method. Some attention is also given to a third method that lies somewhere between the two previous ones: the Average Participations applied to Transits (APT) method. The performance of the AP, WWT and APT methods is compared with that of the temporary method presently applied to compute compensations in the IEM. The three methods are closely examined both from a conceptual point of view and taking into account the numerical results they produce. Based on this analysis, the AP method is proposed as the best option to compute ITCs in the European Union. The paper draws on research projects carried out for the European Commission and the Florence Regulatory Forum

  16. Production and competition in the European electric sector. 4. report from the research project 'renewable energy in the community's internal market'

    International Nuclear Information System (INIS)

    Kjersgaard, A.

    1997-01-01

    The aim is to elucidate the dynamic interactive pricing, competition and market mechanisms that are valid for the European electric power market. The perspective in the report is to analyse the vertical flow of substance and values of energy, the interaction of the actors, and the economic relations. The first link in the vertical chain is the energy raw materials supplies: the reserves and production of fossil and nuclear fuels and the relation to globalization of electricity production. The next link is the production of electricity: the production technologies used and their positioning, the importance of large trans-national utilities in relation to technological changes. The third link is the market and the changes of the market between production, transmission, distribution and consumption of electricity, and the consequences of these changes. Two horizontal regulating sectional views are analysed: The European Union regulations of the electric power sector and the Danish regulations of power supplies. Finally, production and competition of electric power from renewable energy sources, i.e. wind power, in a future European energy market is put into perspective. (LN) 134 refs

  17. The development of the European electricity market in a juridical no man’s land

    NARCIS (Netherlands)

    Pront-van Bommel, S.; Dorsman, A.; Westerman, W.; Karan, M.B.; Arslan, Ö.

    2011-01-01

    Energy trade, including trade in energy derivatives, may entail various potential risks. Conceivably, these risks could jeopardize European Union objectives, such as consumer protection. Under the European Third Energy Package, which recently entered into force, Member States are required to confer

  18. Electricity market 2001

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-09-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment.

  19. Electricity market 2001

    International Nuclear Information System (INIS)

    2001-09-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment

  20. Electricity market 2000

    Energy Technology Data Exchange (ETDEWEB)

    Korsfeldt, T.; Petsala, B.

    2000-08-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment.

  1. Electricity market 2000

    International Nuclear Information System (INIS)

    Korsfeldt, T.; Petsala, B.

    2000-08-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

  2. USING THE GENERAL ELECTRIC / MCKINSEY MATRIX IN THE PROCESS OF SELECTING THE CENTRAL AND EAST EUROPEAN MARKETS

    Directory of Open Access Journals (Sweden)

    Nicolae Răzvan Decuseară

    2013-01-01

    Full Text Available Due to limited resources a company cannot serve all potential markets in the world in a manner that all the clients to be satisfied and the business goals achieved, which is why the company should select the most appropriate markets. It can focus on a single product market serving many geographic areas, but may also decide to serve different product markets in a group of selected geographic areas. Due to the large number and diversity of markets that can choose, analyze of the market attractiveness and the selection the most interesting is a complex process. General Electric Matrix/McKinsey has two dimensions, market attractiveness and the competitive strength of the firm, and aims to analyze the strengths and weaknesses of the company in a variety of areas, allowing the company to identify the most attractive markets and to guide managers in allocating resources to these markets, improve the weaker competitive position of the company in emerging markets, or to draw firm unattractive markets. We can say that it is a very efficient tool for the company being used by international market specialists, on one hand to select foreign markets for the company, and on the other hand, to determine the strategy that the firm will be using to internationalize on those markets. At the end of this paper we present a part of a larger study in which we showed how General Electric Matrix/McKinsey it is used specifically in select foreign markets.

  3. The electricity market 2003

    International Nuclear Information System (INIS)

    2003-01-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. We now have a common Nordic electricity market that includes all of the Nordic countries, with the exception of Iceland. The objective of the electricity market reform is to introduce increased competition, to give consumers greater freedom of choice and also, by open and increased trade in electricity, create the conditions for efficient pricing. The Swedish Energy Agency is the supervisory authority specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and regularly compile and report current market information. The purpose of 'The Electricity Market 2003' publication is to meet the need for generalized and easily accessible information on the conditions on the Nordic market. The publication also includes summaries of the information from recent years concerning power generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

  4. Essays on electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Rud, Linda

    2009-07-01

    The report covers several topics of electricity markets: The first essay, 'Selected Topics on Early Electricity Market Design in Norway' studies market design issues in establishing the market-based Norwegian electricity market. Essays 2-4 focus on issues of network congestion: 'Capacity Charges: A Price Adjustment Process for Managing Congestion in Electricity Transmission Networks' presents the capacity charge approach for managing transmission constraints in electricity networks. 'Understanding the Stochastics of Nodal Prices: Price Processes in a Constrained Network' seeks a further understanding of stochastic nodal prices processes. 'Investment Evaluation in a Constrained Electricity Network with Stochastic Nodal Price Processes' studies how the interaction of the competitive market and the capacitated network affects the evaluation of investments under uncertainty, and points out potential pitfalls of evaluation. In the last essay, 'A Newsboy Model Perspective on the Power Market: The Case of a Wind Power Producer' we discuss aspects of optimal bidding for a wind power producer. (Author)

  5. Electric power and gas markets

    International Nuclear Information System (INIS)

    2001-01-01

    These two days organized by EFE in Paris, dealt with the european market of the gas and the electrical power. The first day developed the actual situation and the tendencies. The french market deregulation, the possibility of a united market and the energy transportation sector are discussed. The second day dealt with the new commercial technologies, the convergence of Gas and Electricity and the competing in a change world, the opportunities of the NTIC (new technologies of the information and communication). (A.L.B.)

  6. Current status of the debate about the European single market for gas and electricity

    International Nuclear Information System (INIS)

    Pluge, W.

    1993-01-01

    The current status of the debate is characterised by heterogeneity, which can be perceived reading the body of opinions given by the EC Commission, the European Parliament, the EC Council of Ministers, or the national governments, and in the opinions of the European Parliament or the respective national parliaments, the scope of diverging attitudes ranging from anticipating obedience in single cases to anticipating refusal. There is a growing awareness of the distinctions between the gas and the power industry and their respective requirements, leading to increasing discussions about suitable policies. The EC Commission has put down some basic principles, but their proposal of establishing a scheme of Third Party Access on a voluntary basis is a wolf in sheep's clothing, because in case this voluntary scheme will not work, more stringent instruments are on the list. There is general confusion to be stated, which might indicate that the existing systems are not so bad after all. (orig.) [de

  7. Future Electricity Markets

    DEFF Research Database (Denmark)

    Pinson, Pierre

    2015-01-01

    The changing face of energy production in Europe necessitates a rethink in the way that electricity markets are structured. The ‘5s’ (Future Electricity Markets) project is a multi-disciplinary project that is looking to challenge the current approach to the design and operation of electricity...

  8. Competition in the European electricity market - really a chance?; Wettbewerb im europaeischen Strommarkt - wirklich eine Chance?

    Energy Technology Data Exchange (ETDEWEB)

    Holzer, J [Bayernwerk AG, Muenchen (Germany)

    1993-12-31

    This report throws a critical look at the targets and guidelines aimed at by the EC Commission in order to change the present regulative frame of electricity supply. Particularly the difference between the German, French and British situation is shown. In the opinion of German electric utilities the principle of closed supply areas has to be sticked to. Finally the necessity is emphasized to use energy policy to solve quickly some problems in order to improve the standing of German electric utilities. (UA) [Deutsch] Der Vortrag beinhaltet eine kritische Auseinandersetzung mit den von der EG-Kommision verfolgten Zielen und Richtlinien zur Aenderung des bisherigen Ordnungsrahmens in der Elektrizitaetsversorgung. Insbesondere werden die Unterschiede im Vergleich zwischen deutschen, franzoesischen und englischen Verhaeltnissen herausgestellt. Nach Ausicht der deutschen EVUs muss das Prinzip der geschlossenen Versorgungsgebiete erhalten bleiben. Abschliessend wird die Forderung unterstrichen, die Loesung einiger Probleme durch die Energiepolitik voranzutreiben, um die Position der deutschen Elektrizitaetsversorgung zu verbessern. (UA)

  9. Alberta's electricity forwards market

    International Nuclear Information System (INIS)

    Andrews, D.

    2002-01-01

    This paper outlined how the province of Alberta is starting over with a wholesale electricity market. Wholesalers have retreated back to the real-time market. The Watt-Ex standard market design position paper, issued in October 2002, examines wholesale market issues. The author notes that the biggest constraint to competitive electricity market is the reliance on real-time markets to price a good portion of transactions. Doing so, creates extreme price volatility and ineffective price signals because demand and supply have only a limited ability to respond to prices

  10. The impact of German CO{sub 2}-reduction targets on the European electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Lindenberger, Dietmar [Koeln Univ. (Germany). Energiewirtschaftliches Inst.

    2016-07-01

    The topic ''CO{sub 2}-reduction within the electric power system'' should actually be preceded by a more general remark on the efficiency of energy policy from a macroeconomic perspective. An efficient and effective energy policy necessitates that the primary targets of such an energy policy, namely safeguarding a sustainable energy supply as well as considering environmental and climate objectives, are attained at the lowest possible costs. This corresponds to the general economic principle according to which given goals are to be achieved with relatively little effort and/or investments. That is beyond doubt because it means nothing else than to avoid any unnecessary waste of resources in order to reach such objectives.

  11. Electric glass capturing markets

    Energy Technology Data Exchange (ETDEWEB)

    Wikman, K.; Wikstroem, T.

    1996-11-01

    Electric glass has found its place on the construction market. In public buildings, electrically heatable windows are becoming the leading option for large glass walls. Studies on detached houses, both new and renovated, show that floor heating combined with electrically heatable windowpanes is the best choice with respect to resident`s comfort. (orig.)

  12. Role of National Support Policy in the large-scale integration of DER into the European electricity market

    DEFF Research Database (Denmark)

    ten Donkelaar, Michael; Klinge Jacobsen, Henrik

    2008-01-01

    This report concerns a study of the DER support schemes in the different EU Member States, their effectiveness and if necessary how these might be moulded to become more cost-effective in the future to integrate much larger shares of DER in the European electricity supply system. The report is pa...

  13. The role of the European Union in private law relations of organizations operating in the internal electricity or gas market in medium and small size Member States

    International Nuclear Information System (INIS)

    Nechvátal, Ivan; Pilavachi, Petros A.; Kakaras, Emmanuel

    2012-01-01

    This paper studies European Union (EU) legislation on private law relations for organizations operating in the internal electricity and gas market in medium and small size Member States. It consists of the analysis of both the EU primary (Treaties) and secondary (directives and regulations) legislation. A survey was sent to organizations operating in the internal energy market in four Member States: Greece, Czech Republic, Finland, and Malta. Through the survey, the paper identifies problematic areas of current EU legislation and compares them with new legislation applied as from 3 March 2011 (third liberalization package). It looks into all important EU energy legislation on private law relations of organizations operating in the internal energy market such as unbundling, procurement, procedural law, duties related to information and other legislation on energy contracts. The study concludes that, despite some small problems, the energy liberalization including the third liberalization legislative package progresses in a correct manner. There are nearly no problems in the access to the transmission and distribution systems. The functioning of the gas market is considered as the most important problem. - Highlights: ► European Union legislation on private law relations was studied. ► Organizations operating in the electricity and gas market were considered. ► A survey was sent to organizations in four Member States. ► Despite some problems, the energy liberalization advances correctly. ► The gas market is considered as the most important problem.

  14. Interconnections and market integration in the Irish Single Electricity Market

    International Nuclear Information System (INIS)

    Nepal, Rabindra; Jamasb, Tooraj

    2012-01-01

    Interconnections can be an effective way to increase competition and improve market integration in concentrated wholesale electricity markets with limited number of participants. This paper examines the potential for interconnections and increasing market integration in the Irish Single Electricity Market (SEM). We use a time-varying Kalman filter technique to assess the degree of market integration between SEM and other large, mature and interconnected wholesale electricity markets in Europe including Great Britain (GB). The results indicate no market integration between SEM and other European markets except for Elspot and GB. We show that the current state of market integration between SEM and GB is just 17% indicating potential to improve market integration via increased interconnector capacity. The results indicate that liquidity of wholesale markets might be a crucial factor in the market integration process while our results remain inconclusive in determining whether increased trade of renewables can improve market integration. - Highlights: ► We assess the degree of market integration between SEM and other EU electricity markets. ► Our results indicate no market integration between SEM and other European markets except for Elspot and GB. ► We show that the current state of market integration between SEM and GB is just 17%.

  15. Balancing renewable on intra day electricity markets

    International Nuclear Information System (INIS)

    Sokol, R.; Bems, J.

    2012-01-01

    Intra day electricity markets contribute to facilitate transition from conventional sources to renewable which need to be balanced on real-time basic due to the unpredictable nature of weather. This paper describes the way from regional electricity markets to a single pan-european market model which is target model of the European Commission. Single liquid intra day electricity market where market participants can balance their portfolios is prerequisite to a full utilisation of renewable power sources and a solution for some problems experienced by TSOs with loop and parallel flows from neighbouring countries. Integrated German and French intra day electricity market which uses Flexible Intra day Trading Scheme is described in this paper as a market which could be extended further to the CEE region with very poor liquidity of its local intra day markets. (Authors)

  16. Integration of European Bond Markets

    DEFF Research Database (Denmark)

    Christiansen, Charlotte

    2014-01-01

    I investigate the time variation in the integration of EU government bond markets. The integration is measured by the explanatory power of European factor portfolios for the individual bond markets for each year. The integration of the government bond markets is stronger for EMU than non-EMU memb......I investigate the time variation in the integration of EU government bond markets. The integration is measured by the explanatory power of European factor portfolios for the individual bond markets for each year. The integration of the government bond markets is stronger for EMU than non...

  17. Market forces in european soccer

    NARCIS (Netherlands)

    Haan, M.; Koning, Ruud H.; Witteloostuijn, A. van

    2002-01-01

    Recent decades have witnessed major changes in the market for European soccer. The most profound were the Bosman ruling, which lifted restrictions in the European labor market for soccer talent, and the introduction of the Champions' League, a high-profile international competition that generates

  18. The unavoidable increase in electricity prices in France: should the effects of the European market integration be corrected?

    International Nuclear Information System (INIS)

    Finon, D.; Glachant, J.M.

    2008-01-01

    The competitive reform will unavoidably generate a price increase for French consumers when the regulated price is removed. That increase is due to the competitive hourly rate formation system in the continental market. The system allows existing nuclear equipment of all European producers to generate a rarity income, without this triggering nuclear investment decisions due to political obstacles. The sacrifice of French consumers does not imply later price decreases failing such investments. The benefit sought by the integration of the market for European consumer benefit cannot be achieved. The rarity income from existing equipment only benefits the shareholders of companies holding existing low combustible cost equipment, including the historical French operator. This article details this nuclear rarity income analysis and reviews several compensation approaches to reconcile French consumers with the construction dynamics of a competitive European market. Such re-allotment systems need to be both simple and perceived as a compensation for potential price increase, and not alter drastically the operation of the new markets. (authors)

  19. The European Natural Gas Market

    NARCIS (Netherlands)

    Correlje, A.F.

    The European Union started the introduction of competition in the European market for natural gas. Today, mid-2016, the process of restructuring is still going on. In parallel, important changes in geopolitical, environmental and technological determinants can be observed in the European and global

  20. Essays on electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Rud, Linda

    2009-07-01

    The report covers several topics of electricity markets: The first essay, 'Selected Topics on Early Electricity Market Design in Norway' studies market design issues in establishing the market-based Norwegian electricity market. Essays 2-4 focus on issues of network congestion: 'Capacity Charges: A Price Adjustment Process for Managing Congestion in Electricity Transmission Networks' presents the capacity charge approach for managing transmission constraints in electricity networks. 'Understanding the Stochastics of Nodal Prices: Price Processes in a Constrained Network' seeks a further understanding of stochastic nodal prices processes. 'Investment Evaluation in a Constrained Electricity Network with Stochastic Nodal Price Processes' studies how the interaction of the competitive market and the capacitated network affects the evaluation of investments under uncertainty, and points out potential pitfalls of evaluation. In the last essay, 'A Newsboy Model Perspective on the Power Market: The Case of a Wind Power Producer' we discuss aspects of optimal bidding for a wind power producer. (Author)

  1. The European automotive LPG market

    International Nuclear Information System (INIS)

    Anon.

    1998-01-01

    The European automotive LPG market could reach at least 4 % of the European fuel market in 2005 versus 1 % in 1990. This would represent a rise of about 35 % in automotive LPG sales (from 2,4 million tonnes in 1997 to 7 million tonnes estimated for 2005). This was underlined by Alain Deleuse, Primagaz group's Marketing Director, in the paper he delivered at the AEGPL Budapest Convention. We publish large excepts of this paper. (author)

  2. Electricity marketing and retailing

    International Nuclear Information System (INIS)

    Hanlon, C.

    2001-01-01

    ECNG Inc. is a full service provider of independent and objective energy advice and management services to industrial, commercial and institutional end-users of all forms of energy. ECNG manages 10 per cent of the Ontario gas market and expects a 10 per cent share of electricity (14 TWh). ECNG has a balanced portfolio with expertise in both petroleum and electricity sectors. The company has also dealt extensively with retailers, marketers, wholesalers and suppliers on issues regarding deregulation

  3. Information report submitted by the Commission for European Affairs on the new organisation of the electricity market, within the frame of the fourth energy package. Nr 4568

    International Nuclear Information System (INIS)

    Chabanne, Nathalie; Schneider, Andre

    2017-01-01

    After charting the gradual implementation of the European energy policy over the past twenty years, and observing the need to adapt the regulatory framework to promote the necessary developments in the sector to combat climate change, the authors of this parliamentary report examine the four texts (three regulations and one directive) of the fourth energy package on the organisation of the electric power market. They notice that the measures proposed by the European Commission aim at making the electricity market more flexible, at strengthening regional cooperation, at allowing the consumer to play a more active role in the market, at promoting the emergence of a European regulator, and at introducing joint methods for the assessment and management of risks. However, the authors consider that several proposals seem to express a highly pronounced desire for centralisation, and therefore lead to a level of prescription which they consider as incompatible with the need to maintain the competencies of the Member States in this field. Therefore, they make recommendations for a close monitoring of the legislative process and to ensure that some proposals are modified or adapted

  4. The electricity market

    International Nuclear Information System (INIS)

    2015-01-01

    After a first part proposing predictions for electricity production and consumption for 2016, for the turnovers of electricity suppliers and producers, an indication of important recent important events regarding enterprises belonging to the sector, and a dashboard of the sector activity, an annual report proposes a detailed overview of trends and of the competition context for the electricity market. It identifies the main market opportunities for electricity suppliers, identifies eight determining factors for the sector activity, gives an overview of the sector context evolution between 2004 and 2014 (temperatures, rainfalls, manufacturing industry production, housing and office building stock, projected housing and office building). It analyses the evolution of the sector activity by presenting and commenting various activity indicators and financial performance of electricity producers. It analyses the sector economic structure: evolution of the economic fabric, presentation of various structural characteristics (cross-border exchanges, production capacities per energy source, nuclear plant fleet, thermal plant fleet, location, electricity supply market). It proposes a presentation of the various actors and of their respective market shares, and presentations of groups, electricity suppliers, and electricity producers. It indicates highlights and presents various rankings of the main enterprises in 2014

  5. Market efficiency in the European carbon markets

    International Nuclear Information System (INIS)

    Charles, Amélie; Darné, Olivier; Fouilloux, Jessica

    2013-01-01

    In this paper, we study the relationship between futures and spot prices in the European carbon markets from the cost-of-carry hypothesis. The aim is to investigate the extent of efficiency market. The three main European markets (BlueNext, EEX and ECX) are analyzed during Phase II, covering the period from March 13, 2009 to January, 17, 2012. Futures contracts are found to be cointegrated with spot prices and interest rates for several maturities in the three CO 2 markets. Results are similar when structural breaks are taken into account. According to individual and joint tests, the cost-of-carry model is rejected for all maturities and CO 2 markets, implying that neither contract is priced according to the cost-of-carry model. The absence of the cost-of-carry relationship can be interpreted as an indicator of market inefficiency and may bring arbitrage opportunities in the CO 2 market. - Highlights: • We study the cost-of-carry hypothesis in the European carbon markets during Phase 2. • We apply cointegration tests with and without structural breaks on several maturities. • We find that futures contracts are cointegrated with spot prices and interest rates. • The cost-of-carry model is rejected for all maturities and carbon markets

  6. The electric power market in Europe. The stakes and forecasts of the market reconfiguration

    International Nuclear Information System (INIS)

    2002-01-01

    This study takes stock on the eight main european electric power markets. It provides data on the electric power sector, knowledge on the european market competition, it analyzes the european companies mastership and management, the market reconfiguration, it evaluates and compares the financial performance of the sector leaders. (A.L.B.)

  7. Central European gas market perspectives

    International Nuclear Information System (INIS)

    Vanous, Jan

    1999-01-01

    This presentation deals with (1) Definition of the Central European market, (2) Factors driving up consumption of natural gas in Central and Eastern Europe, (3) Role of natural gas in regional energy consumption, (4) Position of natural gas in individual country markets, (5) Future sources of imported natural gas into the region. The Central European market are the eleven countries Albania, Bulgaria, Croatia, Czech Republic, Hungary, Macedonia, Poland, Romania, Serbia and Montenegro, Slovakia, and Slovenia, with a total population of 121 million. This market is comparable to combined France and Italy in terms of population, but only 30% of its size in terms of GDP

  8. European gas oil markets

    International Nuclear Information System (INIS)

    Long, D.

    1991-04-01

    The developments over the past five years of the bulk markets for gas oil in Europe are examined using advanced econometric techniques to study the related issues of pricing efficiency and hedge efficiency. The study attempts to preserve the fluctuations of the actual data as these provide insights into the process of price discovery. The markets studied include the spot, forward and futures markets and looks for evidence of differentiated markets. (UK)

  9. In search of the perfect electricity market

    International Nuclear Information System (INIS)

    De Vries, L.; Correlje, A.

    2008-01-01

    Nearly twelve years after the first electricity directive (Directive 96/92/EC), the European electricity sector is still fragmented along national borders. Within national or regional markets, competition has generally not developed as much as had been expected. The authors argue that progress is possible, but that we also have to learn to accept the inevitable imperfections of the integration process. Two questions are addressed in this article: (1) Why is every market designed in a different way?; and (2) How can the integration of European power markets be furthered, given the current diversity of market designs?

  10. Successful diversification strategies of electricity companies: An explorative empirical study on the success of different diversification strategies of German electricity companies in the wake of the European market liberalization

    International Nuclear Information System (INIS)

    Mueller, Ralf; Steinert, Martin; Teufel, Stephanie

    2008-01-01

    Based on the EC directive 96/92, the liberalization of electricity markets is forcing electricity companies, to rethink their product and market strategy. However, neither the level of the initiated diversification efforts of former monopolies, nor their direction or their success are known or have been analyzed before. Therefore, Mueller [2006. Diversifikationsstrategien von Stromversorgungsunternehmen: Handlungsempfehlungen fuer schweizerische Stromversorgungsunternehmen auf der Basis einer empirischen Analyse des liberalisierten deutschen Strommarktes. IIMT University Press, Fribourg] has quantitatively determined the extent and direction of the diversification efforts in the electricity sector. Additionally, based on an exploratory case study research, successful diversification strategies have been identified and incorporated into 73 observations which form the basis of a set of normative recommendations for diversifying electricity companies. Since the analyses are based on the German electricity market, which fully liberalized earlier than most of its continental European counterparts, the results may especially guide other European electricity companies in their strategic diversification decisions. This paper publishes both the quantitative analysis on the degree and extents of diversification (sample time frame 1995-2000) as well as the qualitative analysis on the success of diversification strategies (sample time frame 1995-2003). Additionally, based on the obtained explorative observations, the diversification strategy of an idealized-electricity company is firstly presented for practitioners as normative recommendation, and secondly for academics, as starting point for future quantitative analysis framework. (author)

  11. The electricity market and European integration from the point of view of the Federal Republic of Germany

    International Nuclear Information System (INIS)

    Bierhoff, R.

    1989-01-01

    The author discusses whether the cross-border exchange of current represents a criterion for developing a uniform internal European market for current and whether the present structure of power supply is really such an obstacle to cross-border exchanges. He examines the situation in various EC countries in an effort to predict the problems that will arise in moving towards uniformity. He concludes that if the uniformity required by the 1987 bill is to become reality, there must be a greater political will on the part of governments to set objectives for the industry more in keeping with present circumstances. (T.J.R.A.)

  12. SOLID-DER. Reaching large-scale integration of Distributed Energy Resources in the enlarged European electricity market

    International Nuclear Information System (INIS)

    Van Oostvoorn, F.; Ten Donkelaar, M.

    2007-05-01

    The integration of DER (distributed energy resources) in the European electricity networks has become a key issue for energy producers, network operators, policy makers and the R and D community. In some countries it created already a number of challenges for the stability of the electricity supply system, thereby creating new barriers for further expansion of the share of DER in supply. On the other hand in many Member States there exists still a lack of awareness and understanding of the possible benefits and role of DER in the electricity system, while environmental goals and security of supply issues ask more and more for solutions that DER could provide in the future. The project SOLID-DER, a Coordination Action, will assess the barriers for further integration of DER, overcome both the lack of awareness of benefits of DER solutions and fragmentation in EU R and D results by consolidating all European DER research activities and report on its common findings. In particular awareness of DER solutions and benefits will be raised in the new Member States, thereby addressing their specific issues and barriers and incorporate them in the existing EU DER R and D community. The SOLID-DER Coordination Action will run from November 2005 to October 2008

  13. Evaluation of the impact of the liberalisation of the European electricity market on the CHP, District heating and cooling sector; 'Save CHP/DHC'. Final report

    International Nuclear Information System (INIS)

    2000-08-01

    Improved energy efficiency will play a key role in meeting the EU Kyoto target economically. In addition to a significant positive environmental impact, improved energy efficiency will lead to a more sustainable energy policy and enhanced security of supply. The study: 1) Identifies and evaluates parameters and conditions which in relation to the liberalisation of the electricity market will have an impact on the CHP/DHC sector in EU15 and Poland. 2) Establishes an information base on CHP/DHC systems in EU15 and Poland. 3) Analyses the CHP/DHC sector and its ability to meet changing market conditions. 4) Assesses the effect of the liberalised electricity market on electricity production in relation to CHP/district heating and cooling. 5) Identifies threats for the viability of CHP/DHC in a liberalised market and evaluates means and measures to overcome such threats. The study brings forward the goals and commitments in respect of European energy and environmental policy and gives an overview of the present and expected future framework in which CHP/DHC is to operate. The study evaluates the viability of the sector at an overall level and for different groups/categories of CHP/DHC systems in different countries. The effects of existing or proposed national public measures are analysed. The analyses are essential to decision makers in the transition process towards a fully liberalised market. Recognised uncertainties in the market during the transition period may cause either a temporary or a permanent recession for the CHP/DHC sector. Improved understanding and recognition of threats and opportunities is important to all actors just now. The study can be considered a first step of a process to create a market situation, where the energy customers can make their choices under competition rules and where environmentally friendly and efficient CHP and DHC is considered an attractive business opportunity in competition with other energy supplies. (EHS)

  14. Essays on European bond markets

    NARCIS (Netherlands)

    Cheung, Y.C.

    2005-01-01

    This dissertation focused on a number of issues that are of importance in the current European bond market. In the past years, the fiscal policy of the Eurozone members, advances in the technology of trading platforms and the introduction of a single currency have reshaped the fixed income markets

  15. Bulgarian electricity market restructuring

    International Nuclear Information System (INIS)

    Ganev, Peter

    2009-01-01

    The energy sector in Bulgaria has undergone major restructuring in recent years. It faces the dual challenges of achieving regulatory stability to attract private investors, and creating a functioning competition energy market. As of the EU Accession in 2007, Bulgaria has fully liberalized power and gas markets. The 2003 Energy Law establishes the energy sector legal framework and sets the basis for creation of a transparent and predictable regulatory environment where the key regulatory responsibilities are vested with the State Energy and Water Regulatory Commission (SEWRC). The energy sector experienced significant problems in the first half of 2007 due to lost production capacities and regulatory failures on the electricity market. Excess price regulations on the market of electricity supplies to household, coupled with insufficient liberalization of imports and exports, create unfavorable conditions for power producers and large electricity users. The energy regulator has tried to achieve several incompatible targets as of July 1, 2007 for maintaining low electricity prices for households in response to political pressure, low power generation prices amid rising input costs, and market opening in compliance with EU regulations. (author)

  16. Renewables in Electricity Markets

    DEFF Research Database (Denmark)

    Ordoudis, Christos; Papakonstantinou, Athanasios; Pinson, Pierre

    2014-01-01

    Electricity is nowadays commonly exchanged through electricity markets, designed in a context where dispatchable generators, with non-negligible marginal costs, were dominating. By depending primarily on conventional (fossil, hydro and nuclear) power generation based on marginal pricing...... not designed to take into account the uncertainty brought by the substantial variability and limited predictability associated with stochastic sources, most notably wind power and solar energy. Due to these developments, the need for decision making models able to account for the uncertainty introduced by high...... from renewables, and on the adaption of electricity market designs and power system operations to the aforementioned characteristics of renewables. Additionally, the aim of the research group is supplemented by providing the appropriate frameworks for secure future investments in the field...

  17. Electricity wholesale market prices in Europe: Convergence?

    International Nuclear Information System (INIS)

    Zachmann, Georg

    2008-01-01

    This paper tests the hypothesis that the ongoing restructuring process in the European electricity sector has led to a common European market for electricity. Based on a Principal Component Analysis (PCA) of wholesale electricity prices in 2002-2006, we reject the assumption of full market integration. For several pairs of countries, the weaker hypothesis of (bilateral) convergence is accepted based on unit root tests (KPSS and ADF) and a convergence test based on filtered pairwise price relations. This indicates that the efforts to develop a single European market for electricity were so far only partially successful. We show that the daily auction prices of scarce cross-border transmission capacities are insufficient to explain the persistence of international price differentials. Empirically, our findings confirm the insufficiency of explicit capacity auctions as stated in the theoretical literature. (author)

  18. Electricity markets theories and applications

    CERN Document Server

    Lin, Jeremy

    2017-01-01

    Electricity Markets: Theories and Applications offers students and practitioners a clear understanding of the fundamental concepts of the economic theories, particularly microeconomic theories, as well as information on some advanced optimization methods of electricity markets. The authors--noted experts in the field--cover the basic drivers for the transformation of the electricity industry in both the United States and around the world and discuss the fundamentals of power system operation, electricity market design and structures, and electricity market operations. The text also explores advanced topics of power system operations and electricity market design and structure including zonal versus nodal pricing, market performance and market power issues, transmission pricing, and the emerging problems electricity markets face in smart grid and micro-grid environments. The authors also examine system planning under the context of electricity market regime. They explain the new ways to solve problems with t...

  19. The electricity market 2002

    International Nuclear Information System (INIS)

    2002-01-01

    The purpose of the 'Electricity market 2002' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment. The market price of electricity is affected by a number of factors, including fuel prices, availability of water, and the power and energy balances of the various countries. The availability of water in Norway and Sweden has been very good in recent years, which has had a major influence on the price. 1996 was a dry year, which led to a high system price on Nord Pool. The price of electricity then dropped and has remained at a relatively low level up to the year 2001. The price of electricity rose during the spring of 2001 and remained at a higher level also during the summer months. The main reason was that the availability of water was lower than normal in Norway during the early part of the year. This created a higher demand for imported electricity in Norway and caused some apprehension that the year would be dry. The total price of electricity to the end users has not followed the system price development. The total cost of electricity to the end consumers consists of three items, i.e. the price of electricity, the network charges and

  20. Competition policies on the electricity markets

    International Nuclear Information System (INIS)

    Dubois, U.

    2008-01-01

    This article puts forward a critical analysis of European competition instruments and practices in terms of market power on the electricity wholesale markets. Due to the speck nature of electrical activities, competition policies come up against difficulties of market power identification at first, since there is no model for detecting perfectly the potential or real exertion of market power in this sector. What is more, since competition authorities rely on specific intervention methods, their ability to limit the exertion of market power is relatively low. For a large number of their interventions involves controlling concentrations. In the light of this double phenomenon, this article discusses some recent developments of European competition policies on the electricity wholesale markets. The sector inquiry of 2007 seems to mark the start of a new competition policy practice in the electricity sector. The initiative and decision-making power now seem to be nesting mainly at a European level where action is not only to be found in terms of controlling mergers and acquisitions, but also stretches to involve an in-depth evaluation of the way the different markets work. This action is manifested in decisions to investigate some companies as well as legislative proposals in the framework of the third package. Thus we are moving towards a greater monitoring of electricity markets using more formal supervision instruments and on a more continuous basis. (author)

  1. The electricity market 2002

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2002-10-01

    The purpose of the 'Electricity market 2002' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment. The market price of electricity is affected by a number of factors, including fuel prices, availability of water, and the power and energy balances of the various countries. The availability of water in Norway and Sweden has been very good in recent years, which has had a major influence on the price. 1996 was a dry year, which led to a high system price on Nord Pool. The price of electricity then dropped and has remained at a relatively low level up to the year 2001. The price of electricity rose during the spring of 2001 and remained at a higher level also during the summer months. The main reason was that the availability of water was lower than normal in Norway during the early part of the year. This created a higher demand for imported electricity in Norway and caused some apprehension that the year would be dry. The total price of electricity to the end users has not followed the system price development. The total cost of electricity to the end consumers consists of three items, i.e. the price of electricity, the network

  2. Electricity marketing and retailing

    International Nuclear Information System (INIS)

    Kilby, M.

    2001-01-01

    Canadian Metering Services provides metrology expertise to power producers and has more than 40 years experience in the industry. The company is privately and nationally accredited in Canada and is an expert in data communications. This power point presentation focused on issues regarding prices and price stability. Graphs were included with the presentation which depicted the profiles of winners and losers in electricity marketing and retailing. The presentation also discussed the benefits of a market surveillance panel, AMV, and MDMA and how to go about choosing them. tabs., figs

  3. Electricity marketing and retailing

    Energy Technology Data Exchange (ETDEWEB)

    Kilby, M. [Canadian Meter Services, Toronto ON (Canada)

    2001-07-01

    Canadian Metering Services provides metrology expertise to power producers and has more than 40 years experience in the industry. The company is privately and nationally accredited in Canada and is an expert in data communications. This power point presentation focused on issues regarding prices and price stability. Graphs were included with the presentation which depicted the profiles of winners and losers in electricity marketing and retailing. The presentation also discussed the benefits of a market surveillance panel, AMV, and MDMA and how to go about choosing them. tabs., figs.

  4. The evolution of European and Italian electric market; L'evoluzione del mercato elettrico auropeo ed italiano

    Energy Technology Data Exchange (ETDEWEB)

    Cedola, L.; Di Stasio, G. [Rome Univ. La Sapienza, Rome (Italy). Dipt. di Meccanica ed Aeronautica

    2000-09-01

    Energy requirement is a primary need for mankind. Energy production is tackled with sustainable, economic and environmental problems. The fossil sources using, such as coal and natural gas, the efficiency increasing of technology through cogeneration and combined cycles and the liberalisation of the electric market are some of the most important actions that will be undertaken in the next few years. [Italian] La richiesta di energia rappresenta un bisogno primario per l'uomo. La produzione enrgetica comporta pero' problemi di approvvigionamento, economici ed ambientali. Il ricorso a fonti fossili diverse dal petrolio (carbone e gas naturale), l'aumento dell'efficienza di alcune tecnologie (la cogenerazione ed i cicli combinati) e la libralizzazione del mercato elettrico sono alcune delle principali azioni alle quali oggi si ricorre per ottimizzare la generazione di potenza.

  5. Markets for utility electricity

    International Nuclear Information System (INIS)

    Brooks, D.B.

    1990-01-01

    Every analysis of energy use, no matter what the sector or the country, has shown enormous opportunities for cost-effective conservation. Such opportunities should be identified and pursued wherever they appear. Because of its capital intensity and balance-of-payments implications on the supply side, and its potential to improve industrial efficiency and quality of life on the demand side, nowhere are such opportunities more critical than with electricity. Indeed, given the large and unsatisfied demand for electricity in those markets where it can be used efficiently, to ignore those opportunities is to invite ever more serious energy supply and demand problems. (author). 34 refs., 3 tabs., 1 appendix

  6. The globalization and Europeanization of mortgage markets

    NARCIS (Netherlands)

    Aalbers, M.B.

    2009-01-01

    Do globalization and Europeanization lead to the deterritorialization of European mortgage markets? Neither economic globalization nor EU policies have resulted in one European mortgage market. The various European mortgage markets are still quite different from one another in many respects. In most

  7. Electricity and gas market observatory. 1. Quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: - practical information for eligible customers: consumer guide, list of suppliers, - communications regarding markets running; CRE's annual activity report. Content: A - The electricity market: The retail electricity market (Introduction, Eligible customer segments and their respective weights, Status at April 1, 2007, Dynamic analysis: 1. Quarter 2007); The wholesale electricity market (Introduction, Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 1. 2007 quarter); B - The gas market: The retail gas market (Introduction, The eligible customer segments and their respective weights, Status at April 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  8. Electricity and gas market observatory. 4. Quarter 2006

    International Nuclear Information System (INIS)

    2006-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: - practical information for eligible customers: consumer guide, list of suppliers, - communications regarding markets running; CRE's annual activity report. Content: A - The electricity market: The retail electricity market (Introduction, Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2006); The wholesale electricity market (Introduction, Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter); B - The gas market: The retail gas market (Introduction, The eligible customer segments and their respective weights, Status at January 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  9. A robust multivariate long run analysis of European electricity prices

    OpenAIRE

    Bruno Bosco; Lucia Parisio; Matteo Pelagatti; Fabio Baldi

    2007-01-01

    This paper analyses the interdependencies existing in wholesale electricity prices in six major European countries. The results of our robust multivariate long run dynamic analysis reveal the presence of four highly integrated central European markets (France, Germany, the Netherlands and Austria). The trend shared by these four electricity markets appears to be common also to gas prices, but not to oil prices. The existence of long term dynamics among electricity prices and between electrici...

  10. Overview of Wholesale Electricity Markets

    Energy Technology Data Exchange (ETDEWEB)

    Milligan, Michael [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Bloom, Aaron P [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Cochran, Jaquelin M [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Townsend, Aaron [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Ela, Erik [Electric Power Research Institute; Botterud, Audun [Argonne National Laboratory; Levin, Todd [Argonne National Laboratory

    2018-02-15

    This chapter provides a comprehensive review of four key electricity markets: energy markets (day-ahead and real-time markets); ancillary service markets; financial transmission rights markets; capacity markets. It also discusses how the outcomes of each of these markets may be impacted by the introduction of high penetrations of variable generation. Furthermore, the chapter examines considerations needed to ensure that wholesale market designs are inclusive of emerging technologies, such as demand response, distributed generation, and distributed storage.

  11. Market research for electric utilities

    International Nuclear Information System (INIS)

    Shippee, G.

    1999-01-01

    Marketing research is increasing in importance as utilities become more marketing oriented. Marketing research managers need to maintain autonomy from the marketing director or ad agency and make sure their work is relevant to the utility's operation. This article will outline a model marketing research program for an electric utility. While a utility may not conduct each and every type of research described, the programs presented offer a smorgasbord of activities which successful electric utility marketers often use or have access to

  12. Electricity and gas market observatory. 1. quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at April 1, 2007, Dynamic analysis: 1. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 1. 2007 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at April 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary

  13. Electricity and gas market observatory. 4. quarter 2006

    International Nuclear Information System (INIS)

    2007-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at January 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary

  14. Electricity and gas market observatory. 1. quarter 2007

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at April 1, 2007, Dynamic analysis: 1. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 1. 2007 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at April 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary.

  15. Electricity and gas market observatory. 4. quarter 2006

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at January 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary.

  16. Designing competitive electricity markets

    International Nuclear Information System (INIS)

    Chao, H.P.; Huntington, H.

    1998-01-01

    This volume of papers, originally presented at Stanford in March 1997 in a conference sponsored by the Electric Power Research Institute, examines several questions about the restructuring and deregulation of electricity markets. Its stated goal is to present guiding principles for evaluating proposals to restructure the US electric power industry. While a collection of essays is perhaps not the best place to lay out guiding principles, the volume does contain a great deal of learning about restructuring. The first essay is a reprint of Paul Joskow's excellent article in the ''Journal of Economic Perspectives''. An essay by William Hogan on the debate between zonal and locational pricing is next. Paul Kleindorfer lists the various governance schemes which other countries that have restructured have used to govern system operation, access to the market for power, and transmission ownership and pricing. One difficulty with the book, as well as the debate in the US, is that it fails to draw adequately upon the international experience. Shmuel Oren lays out the potential areas over which an ISO could have authority. The chapter by Stephen Rassenti and Vernon Smith that bilateral trading should never be allowed, implying that a mandatory pool should be established. A reduction in regulation may increase the incentives for technological innovation. Martin Baughman suggests a number of ways by which costs of transmitting and storing electricity may be reduced. Robert Wilson returns to the volume with a chapter on institutional design. To end the volume, Hung-Po Chao and Stephen Peck present an extension of their earlier work in the ''Journal of Regulatory Economics'' showing how markets for transmission rights would work in a transmission grid of three points

  17. The European Gas Market. A Reality Check

    International Nuclear Information System (INIS)

    Parmigiani, Laura

    2013-01-01

    With the approach of the 2014 deadline for the completion of a truly European liberalised energy market, there is growing concern on the adequacy of the market structure with the changed economic and geopolitical environment. Market-based and short-term approaches have been fostered for both gas and electricity markets. Energy and climate policies have therefore a primary function in designing the basic rules for these markets to develop. This study addresses two key issues related to the market design envisaged for the gas sector in Europe. The first raises questions about the adequacy of the market design proposed for the gas market with respect to security of supply. In fact, despite a higher dependence to external gas sources, the gas system has been developing all over Europe and it is becoming a key component of the European energy mix, in particular thanks to its back-up role for intermittent electricity generation and its lower content of CO 2 emissions with respect to coal. The external dimension of the gas market is thus taking a greater place in the approach to gas supply strategies. Security of supply is a key component in the gas sector and cannot be ignored in the creation of a European gas market. Moreover, the oligopolistic characteristic of the supply side has to be carefully assessed as it is well recognized that two countries (Norway and Russia) provide up to almost 60% of total external supplies. The study therefore investigates to what extent the gas market design and its implementation rules take into consideration this dimension. It will be argued that the gas target model envisaged by regulators and the EC, by aiming at increasing the number of market exchanges based on market hubs or virtual exchange points, will not significantly contribute to security of supply. On the contrary, a greater concentration could be an undesired outcome of this process. The second issue thus relates to the more practical on-going reforms that establish common

  18. Marketing of electric vehicles

    International Nuclear Information System (INIS)

    Gaerling, A.; Thoegersen, J.

    2001-01-01

    Substituting electric vehicles for traditional ones could reduce local pollution and greenhouse emissions from the transportation system. However, these societal benefits come at high costs to the owner of the EV in terms of price, driving range, availability, loading capacity, speed and acceleration. In addition, the usability of an EV is hampered by the lack of an infrastructure for recharging. Such a product hardly sells itself to potential customers. Besides supportive national policies, skillful marketing is needed to get it accepted and diffused throughout society. This paper outlines a two-phase strategy for the marketing of EVs based on a discussion of current and expected future characteristics of EVs and on a review of research on early adopters. (author)

  19. Electricity and gas market observatory 1. Quarter 2009

    International Nuclear Information System (INIS)

    2009-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1. of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status on March 31, 2009, Dynamic analysis: 1. Quarter 2009), The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market). B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on March 31. 2009, Dynamic analysis: 1. Quarter 2009), The wholesale gas market (Main steps in the French Wholesale gas market, Gas pricing and gas markets in Europe, The wholesale market in France, Prices on the French wholesale market and European comparison, Concentration of the French gas market) C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  20. MAPPING EUROPEAN CAPITAL MARKETS TENDENCIES

    Directory of Open Access Journals (Sweden)

    Andreea Avadanei

    2011-01-01

    Full Text Available The scope of this paper is to analyze the main tendencies influencing European capitalmarkets development. In order to point out their implications, we structured our study onfour chapters. The first one illustrates the consolidation of stock exchanges at the Europeanlevel; the seconds presents some considerations about the deregulation/re-regulation of EUcapital markets; the third section highlights the globalization implications on their evolutionand the fourth one indicates the effects of financial innovation. The progressive integrationof European capital markets over the past decade contributed to the lowering of capital costas a result of increased risk diversification opportunities and reduced transaction costs dueto the specialization of financial system provisions. Moreover, the expansion of thesemarkets improved firms financing decisions, leading to an increased share of non-bankfunding sources.

  1. Electricity and gas market observatory. 4. Quarter 2008

    International Nuclear Information System (INIS)

    2008-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status on December 31, 2008, Dynamic analysis: 4. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on December 31, 2008, Dynamic analysis: 4. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France, Prices on the French wholesale market and European comparison, Concentration of the French gas market); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  2. Market power and storage in electricity markets

    International Nuclear Information System (INIS)

    Skaar, Jostein

    2004-05-01

    Market power in liberalised electricity markets dominated by hydropower is analyzed in four chapters. The existing literature on competition in hydropower markets is briefly presented and examined. Chapter 1 discusses the effects of market power in the context of acquisitions in a situation where transmission capacity is constrained. Chapter 2 and 3 elaborate on the issue of competition and market power when water inflow is uncertain, and finally Chapter 4 focuses on the supply function equilibrium model in the context of a hydropower market

  3. The European natural gas market

    International Nuclear Information System (INIS)

    Hagland, Jan

    2001-01-01

    An increasing amount of natural gas is flowing into continental Europe, one of the largest gas markets in the world. There are three main sources of gas: Africa, Russia and Norway. Norway is an important supplier of gas, but may be vulnerable to competition. The demand for gas is increasing on a global basis and the largest increase is expected in Asia, followed by America and Europe. It is expected that Norwegian gas deliveries will be a principle source of natural gas for North Europe in the next years and that they will take an increasing part of the British market as the gas deliveries from the British shelf is going down. The European gas market is likely to become liberalized according to the EU's competition- and gas directives. This will not necessarily be a problem, and Norway may be able to increase the export of gas to Great Britain considerably from the year 2010, perhaps up to 40 billion standard m3 per year. Russia is expected to take an increased share of the European gas market, especially in East- and Central Europe, Germany and North Italy. But large investments in existing fields, new developments and new strategic pipelines are necessary

  4. Capacity Remuneration Mechanisms for Reliability in the Integrated European Electricity Market: Effects on Welfare and Distribution through 2023

    DEFF Research Database (Denmark)

    Traber, Thure

    2017-01-01

    emuneration mechanisms (CRMs) based on the assumption that a CRM is indicated. A strategic reserve (SR) policy with administratively set capacity targets, a capacity market (CM) based on public procurement, and a decentralized reserve market with the obligation of generators to finance reserves in relation...

  5. The European Union prepares an electrical crash

    International Nuclear Information System (INIS)

    Gay, Michel

    2013-01-01

    The author of this article discusses the fact that a lack of electricity production within the EU could not be balanced by imports and would lead to an economic and social catastrophe. He comments the current situation in which European countries tend to close an important number of coal and oil power stations in order to meet commitments regarding emissions and the targeted share of renewable energies. He outlines the consequences of theses trends, and states that these decisions based on ecological objectives do not take economic and market realities into account, and lead to a destruction of the French electricity system

  6. Gas and electricity 2001: new market mechanisms

    International Nuclear Information System (INIS)

    2001-11-01

    This document brings together 15 testimonies of experts about the opening of gas and electricity markets: 1 - from the opening of the electricity market to the future deregulation of the gas market: what are the new rules of the world energy market? Gaz de France's strategy in front of the opening of the market. The problem of the gas supplies in Europe in the framework of the opening of markets; 2 - Is the access to the network the same for everybody: the regulation authority as catalyst of the electricity market; the technical network constraints and the conditions of access to the transport and interconnections; the regulatory and contractual framework of the access to interconnections; how a foreign producer can warrant the supply of electricity in France; 3 - which global offer and which new services to be supplied to clients today: what is the global offer of a new actor? Power supply and associated services: what is the global offer of new actors to answer the client's needs? 4 - What are the expectations and choices of consumers in a de-regulated environment; definitions and implementations of new European strategies of purchase: how the purchaser work has changed? 5 - What is the place of the energy trade: the implementation of the electricity stock exchange in France: Powernext. How to manage risks associated to a gas/electricity assets portfolio? (J.S.)

  7. Market research for electric utilities

    Energy Technology Data Exchange (ETDEWEB)

    Shippee, G.

    1999-12-01

    Marketing research is increasing in importance as utilities become more marketing oriented. Marketing research managers need to maintain autonomy from the marketing director or ad agency and make sure their work is relevant to the utility's operation. This article will outline a model marketing research program for an electric utility. While a utility may not conduct each and every type of research described, the programs presented offer a smorgasbord of activities which successful electric utility marketers often use or have access to.

  8. The electricity market in transition: a decoding

    International Nuclear Information System (INIS)

    Mathieu, Mathilde; Schwarz, Virginie; Chapon, Antoine; Fouquet, Doerte; Joos, Marine; Jedliczka, Marc; Siess, Damien

    2015-01-01

    A set of article proposes a discussion of the main challenges for energy transition for the architecture of the European electricity market, an interview of the responsible of the energy department within the French ministry of ecology (she addresses the issues of market, electricity system, renewable energies), a discussion of the first lessons learned from the integration of renewable energies in the electricity market, a comment on hazardous evolutions for independent producers, a discussion of the pilot stage for bidding in Germany, a discussion of false ideas and true challenges in the relationship between demand management and integration, a comment on the evolution towards a complete reform of the support system for renewable energies, and a discussion of the perspectives beyond 40 per cent of renewable energies in the French electricity mix

  9. Volatility Spillover Effects in European Equity Markets

    NARCIS (Netherlands)

    Baele, L.

    2003-01-01

    This paper quantifies the magnitude and time-varying nature of volatility spillovers from the aggregate European (EU) and US market to 13 local European equity markets.I develop a shock spillover model that decomposes local unexpected returns into a country speciffic shock, a regional European

  10. The European gas market at the 2008 prospects

    International Nuclear Information System (INIS)

    2004-11-01

    Because of the opening of European energy markets to competition and to the dynamism of gas consumption, the natural gas market has become very attractive. In parallel, the development of infrastructures (in particular for the LNG industry) offer setting up possibilities to newcomers. Moreover, the synergies linked to the gas/electricity convergence diminish the boundary between electricity and gas markets. In this context, the historical operators of European gas markets have to face the offensive of oil and electric power companies. This study tackles the following questions: what are the gas demand evolution prospects? What are the most attractive consumption areas? How gas prices will change in mid-term? What is the competitive intensity of national markets? Which commercial positioning is to be adopted? What future for dual offers? What is the advantage of regulated activities for operators? Who are the best positioned actors? What will be the mid-term role of Gazprom? What are the mid-term prospects of European market reconfiguration? This study analyses the strategy and positioning of the main European gas operators and shows their forces and weaknesses. It includes a financial comparison of the 20 main groups present in the European natural gas market. This analysis allows to propose 4 scenarios of mid-term evolution for this market. (J.S.)

  11. European energy markets deregulation observatory. Winter 2002/2003 period

    International Nuclear Information System (INIS)

    Anon.

    2004-01-01

    Launched in 2002, the European energy markets deregulation observatory (EEMDO/OELME) aims at actualizing the main energy market indicators and at observing the advance of deregulation within the European countries. While for most of these markets, the deregulation of electricity has preceded the deregulation of gas, the natural gas market is at the evidence a key-market in Europe. For this reason, the 4. edition of the observatory (October 2003) takes into consideration for the first time the specific elements of gas markets, in addition to those of electricity markets. This article presents some excerpts of this last edition, published by Cap Gemini Ernst and Young, and synthesizes the present day situation of gas supplies and the conditions of network access by third parties. The informations reported in the EEMDO come from organizations like UCTE, Nordel, Eurelectric or from energy stock exchanges. (J.S.)

  12. Secondary markets for transmission rights in the North West European Market. Position Paper of the North West European Market Parties Platform

    International Nuclear Information System (INIS)

    Van Haaster, G.

    2006-06-01

    The most important way to acquire cross border transmission rights in the North West European electricity market is through explicit auctions. Although market driven flexibility and therefore efficiency can be further enhanced. One way to this is to introduce a secondary market for transmission rights. In this paper the North West European Market Parties Platform (NWE MPP) proposes a model that is developed and preferred by the market parties. The paper will provide a converging contribution to the congestion management discussions in the North Western European region

  13. Reintroducing regulation? Consequences of the European directives for electricity trade (1228/2003) and gas trade (1775/2005) for the European internal power market; Verordnete Regulierung? Die Bedeutung der Stromhandelsverordnung / Verordnung (EG) Nr. 1228/2003 - und der Gashandelsverordnung - Verordnung (EG) Nr. 1775/2005 - fuer den europaeischen Energiebinnenmarkt

    Energy Technology Data Exchange (ETDEWEB)

    Kaiser, J.

    2007-07-01

    On 23 June 2003, the European Parliament and Council issued the directive on grid access for transfrontier electricity trading (EltHVO). It is part of a bundle of directives comprising also directives on electricity and natural gas trading (EltRL and GasRL). This marks the third and final state of unbundling of the European internal power market. In December 2003, the European Commission also announced the issuing of a directive on access to natural gas pipelines (GasHVO) which was issued on 28 September 2005 and came into force on 1 July 2006. While the European Parliament views the legislation as a key project for standardizing the European internal market, others see a danger of centralisation and standardisation of concrete regulation decisions. The publication investigates the consequences of the EltHVO and GAsHVO for the internal power market, especially with a view to the possible danger of centralisation. (orig.)

  14. Electricity market liberalisation - the German model

    International Nuclear Information System (INIS)

    Mueller, W.

    2002-01-01

    This article discusses the experience gained as a result of the opening of the German electricity market - not only from the national but also from European and international points of view. The history of electricity market liberalisation in Germany is described and the market's structure is compared with that of Switzerland. Both the advantages and disadvantages that have been brought about by liberalisation are discussed as well as the role of state regulation. Certain problem areas still to be tackled are discussed, such those in the areas of cartels, possibilities of supplier-change and tariffs. Also, liberalisation in the context of the European Union's efforts in this area are discussed, especially with respect to the consideration of differing structures in the various member countries of the Union

  15. The Impact of Wind Power on European Natural Gas Markets

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-09-06

    Due to its clean burning properties, low investment costs and flexibility in production, natural gas is often put forward as the ideal partner fuel for wind power and other renewable sources of electricity generation with strongly variable output. This working paper examines three vital questions associated with this premise: 1) Is natural gas indeed the best partner fuel for wind power? 2) If so, to what extent will an increasing market share of wind power in European electricity generation affect demand for natural gas in the power sector? and 3) Considering the existing European natural gas markets, is natural gas capable of fulfilling this role of partner for renewable sources of electricity?.

  16. Nordic Market report 2010. Development in the Nordic Electricity Market

    Energy Technology Data Exchange (ETDEWEB)

    2010-07-15

    The Nordic region is characterized by a unique mix of generation sources, with a very high share of hydropower. Hydropower accounts for virtually all of the Norwegian and nearly half of the Swedish generation capacity, making the level of precipitation vital when calculating and analysing potential generation levels. Climatic conditions such as, significantly colder winters than any other European country also influence consumption in the Nordic region, as many households are electrically heated. Overall electricity consumption in the Nordic region in 2009 was marked by decreasing consumption in every market - from a decrease of 1,5% in Denmark to a decrease of 5,5% in Finland. The Nordic transmission grid connects almost the entire region into one synchronous power system enabling increased security of supply as well as a more efficient use of the generation capacity, but congestion occurs. Congestions between the Nord Pool bidding areas are handled through market splitting, while internal congestions in general are handled through counter trade or by reducing interconnector capacity at the bidding area borders. The key future challenge for transmission network operations both in the Nordic area, and as well on the European level will be to facilitate the functioning of the pan-European wholesale electricity markets. The Nordic wholesale power market is well functioning. The volume traded at Nord Pool in 2009 was about the same share of total consumption as that of 2008. Although trading at Nord Pool is voluntary, significantly more power is traded on the power exchange than bilaterally. During 2009 average spot prices at Nord Pool were lower than prices in 2008 due to both lower demand and generation costs for thermal power plants for most of 2009. The Nordic retail markets are essentially four separate markets, influenced by national differences, but work on integration has started. Throughout 2009 retail prices in the Nordic region were lower than in 2008

  17. Portfolio optimization in electricity markets

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

    In a competitive electricity market, Generation companies (Gencos) face price risk and delivery risk that affect their profitability. Risk management is an important and essential part in the Genco's decision making. In this paper, risk management through diversification is considered. The problem of energy allocation between spot markets and bilateral contracts is formulated as a general portfolio optimization problem with a risk-free asset and n risky assets. Historical data of the PJM electricity market are used to demonstrate the approach. (author)

  18. The Renewables Influence on Market Splitting: the Iberian Spot Electricity Market

    OpenAIRE

    Nuno Carvalho Figueiredo; Patrícia Pereira da Silva; Pedro Cerqueira

    2014-01-01

    This paper aims to assess the influence of wind power generation on the market splitting behaviour of the Iberian electricity spot markets. We use logit models to express the probability response for market splitting of day-ahead spot electricity prices together with explanatory variables like, wind speed, available transmission capacity and electricity demand. The results show that the probability of market splitting increases with the increase of wind power generation. The European intercon...

  19. Electricity and gas market observatory. 2. quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Non-residential customer segments and their respective weights, Status at July 1, 2007, Dynamic analysis: 2. Quarter 2007; The wholesale electricity market: Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the second quarter 2007; The gas market; The retail gas market: The non-residential customer segments and their respective weights, Status at July 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary

  20. Electricity and gas market observatory. 2. quarter 2007

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Non-residential customer segments and their respective weights, Status at July 1, 2007, Dynamic analysis: 2. Quarter 2007; The wholesale electricity market: Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the second quarter 2007; The gas market; The retail gas market: The non-residential customer segments and their respective weights, Status at July 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary.

  1. Electricity and gas market observatory. 3. Quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. The present observatory is including residential customer's statistics. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at September 30, 2007, Dynamic analysis: 3. Quarter 2007); The wholesale electricity market (Introduction, Wholesale market activity in France, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on September 30, 2007, Dynamic analysis: 3. Quarter 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  2. Research document no. 24. The integration of european electric markets: from the national markets juxtaposition to the establishment of a regional market; Cahier de recherche no. 24. L'integration des marches electriques europeens: de la juxtaposition de marches nationaux a l'etablissement d'un marche regional

    Energy Technology Data Exchange (ETDEWEB)

    Finon, D

    2000-11-01

    After the transcription of the electricity directive in national legislations, the European electricity market appears to be a vast set of juxtaposed markets which are weakly connected at the level of their wholesale contracts compartment. Referring to the technological peculiarities of electricity as a commodity, the paper identifies the direct conditions of regional integration of the electricity markets, those which would favour cross-border trade and allow to be near the normal functioning of a regional commodity market. The infrastructure network dependence and the need of a stringent technical coordination necessitate to unify the operation of the different systems and the rules of access, or at the least to come near this unification by strong coordination. A second major condition, which is not fully debated, is the increasing connexion of short-term markets, via daily physical trade and emergence of a European financial market, which could trade various standardised contracts referring to a single hourly spot price, or to prices in various delivery points. To reach such an integration, two paths are possible: either concentration into one single organised power exchange as the Nordic pool, or rules harmonization of the various power exchanges which would be a minimal requirement to allow arbitrations between them. (author)

  3. European energy market in 1980. Volume I

    Energy Technology Data Exchange (ETDEWEB)

    Ray, G; Robinson, C

    1975-01-01

    Three important general influences now affecting energy markets are: (1) exploitation of bargaining power by exporters of raw materials (especially oil); (2) changing attitudes in the developed world towards economic growth; and (3) the unprecedented combination of rapid inflation and serious recession. Fears of energy shortages helped precipitate the world crisis, but there is no energy famine imminent. The rise in energy prices resulted from use of OPEC's quasi-monopoly power rather than from real energy shortages. It is projected that European fuel markets in the next few years will be influenced by: poorer economic growth prospects, the increase in energy prices, oil-saving measures caused by consumers' adjustments over some years to the past huge oil price increases, and attempts by European governments to reduce dependence on OPEC oil. Possible substitutes for OPEC oil are their own various sources of crude oil, European natural gas, and electricity from nuclear fission. EEC's latest energy strategy calls for adequate supplies of cheap energy with minimum damage to the environment. Energy forecasts up to 1980 are given for the nine EEC countries and for Norway and Sweden. Data on energy demand, fuel consumption, and production are summarized. It is felt that, by 1980, Netherlands, United Kingdom, and Norway should be producing more energy than they consume. (MCW)

  4. Electricity market dynamics: Oligopolistic competition

    International Nuclear Information System (INIS)

    Gutierrez-Alcaraz, G.; Sheble, Gerald B.

    2006-01-01

    Presently, electricity markets are characterized by a small number of suppliers with distributed resources. These market suppliers can easily be identified because their geographic location is known. Essentially, two or three of them compete for leading the market whereas the rest of them follow. Hence, it is necessary to study the market structure as ologopolistic competition rather than perfect competition. This paper studies market producer decisions in a dynamic sequential framework by using discrete event system simulation (DESS) also known as discrete control theory. Two-player ologopolistic market structure is presented in this paper. (author)

  5. Electricity trade under financial market supervision; Der Stromhandel unter Finanzmarktaufsicht

    Energy Technology Data Exchange (ETDEWEB)

    Hagena, Martin

    2011-07-01

    With the competitive opening of the electricity market at European and national level, the goods electricity became a freely traded commodity. The author of the contribution under consideration describes the legal consequences related to financial market for trading electricity in the context of the current Directive 2004/39/EC now under consideration of the commodity futures trading in its representational scope. The statements clearly indicate that the power market is a goods market with its own laws and not a classical financial market. It considers what characteristics exist in electricity trading and whether and how they are considered for regulatory purposes.

  6. Electricity market opening and electricity generation system's expansion in Slovenia

    International Nuclear Information System (INIS)

    Kosnjek, Z.; Vidmar, M.; Bregar, Z.

    2000-01-01

    Slovenia is rapidly adopting the European Union (EU) legislation to make itself ready to be admitted the fifteen EU member countries. In the area of energy or electricity supply industry, Slovenia has consequently enforced the Energy law, which in its essence follows the idea of the Directive 96/92/EC. Globally, the Directive defines common rules of the internal electricity market within EU. Any EU member country is responsible for assuring a competitive electricity market and implementing corresponding instruments as foreseen by the Directive. The share of the national market opening is calculated on the basis of eligible customers' consumption versus the overall consumption in a particular member country. Also, the Directive defines the rate of the electricity market opening. It is interesting to note that the EU member countries have been opening their national electricity markets at a greater speed than specified by the Directive. The overall Slovenian Electricity Supply Industry shall have to adapt itself to new imperatives, whereby the greatest changes will by all means take place in the area of electricity generation. As the reaction of eligible domestic market customers is quite unpredictable, the direct electricity import from foreign countries can only be estimated on a variant basis. EU countries that have deregulated their electricity market have been, step by step, gaining valuable experiences. The majority of them show a considerable pressure on having prices of the EPS generation sector reduced. A similar development can by all means be expected in Slovenia, too. it is expected that the major burden of the electricity market liberalisation and electric power interconnecting within EU will be carried by the EPS generation sector. The analyses of developed variants show that the burden, imposed by the transition onto the market economy, will be predominantly carried by the coal fired electricity supply industry. Further development of electricity

  7. Competition ambiguities. Electricite de France and the electricity market liberalization

    International Nuclear Information System (INIS)

    Boiteux, M.

    2007-04-01

    The European Union decided to open the electricity market to the competition and the last step will be in July 2007. Meanwhile the first part, the opening to big consumers, is a deception. The market saw an increase of the electricity prices. The author explains the effects of the liberalization, presenting the inevitable limits of the competition, the disappointing evaluation, the historical aspects of the electric market facing the today situation. (A.L.B.)

  8. Price volatility in wind dominant electricity markets

    DEFF Research Database (Denmark)

    Farashbashi-Astaneh, Seyed-Mostafa; Chen, Zhe

    2013-01-01

    High penetration of intermittent renewable energy sources causes price volatility in future electricity markets. This is specially the case in European countries that plan high penetration levels. This highlights the necessity for revising market regulations and mechanisms in accordance...... to generation combination portfolio. Proposed solutions should be able to tackle with emerging challenges which are mainly due to high variability and unpredictability of intermittent renewable resources. In this paper high price volatility will be introduced as an emerging challenge in wind dominant...... electricity markets. High price volatility is unappreciated because it imposes high financial risk levels to both electricity consumers and producers. Additionally high price variations impede tracking price signals by consumers in future smart grid and jeopardize implementation of demand response concepts...

  9. Electricity and gas market observatory. 2. Quarter 2008

    International Nuclear Information System (INIS)

    2008-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at June 30, 2008, Dynamic analysis: 2. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on June 30, 2008, Dynamic analysis: 2. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  10. Electricity and gas market observatory. 1. Quarter 2008

    International Nuclear Information System (INIS)

    2008-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1. of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at March 31, 2007, Dynamic analysis: 1. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on March 31, 2008, Dynamic analysis: 1. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France, Striking fact of the first quarter 2008); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  11. Electricity and gas market observatory. 4. Quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1. of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at December 31, 2007, Dynamic analysis: 4. Quarter 2007); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking fact of the fourth quarter 2007); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on December 31. 2007, Dynamic analysis: 4. Quarter 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France, Striking fact of the fourth quarter 2007); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  12. Priority for import capacity. The fear of the European Union for a free European energy market

    International Nuclear Information System (INIS)

    Roggen, M.

    2002-01-01

    Brussels (the seat of the European Union in Belgium) is worried about the performance of the liberalized European energy market. The natural gas and electricity networks are suffering from chronic congestion. Some areas are largely or even entirely cut off from the European energy infrastructure. Those problems must be addressed to realize the internal market. A package of reforms has been put forward by the European Commission the end of 2001 and 12 priority projects are identified and briefly discussed in this article [nl

  13. Electricity and gas market observatory. 2. Quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). The present observatory is dedicated only to eligible customers before 1 July 2007, i.e. non-residential customers. Statistics related to residential customers will be published in the next observatory (1 December 2007). Content: A - The electricity market: The retail electricity market (Introduction, Non-residential customer segments and their respective weights, Status at July 1, 2007, Dynamic analysis: 2. Quarter 2007); The wholesale electricity market (Introduction, Wholesale market activity in France, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking fact of the second quarter 2007); B - The gas market: The retail gas market (Introduction, The non-residential customer segments and their respective weights, Status at July 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  14. Electricity marketing and retailing

    International Nuclear Information System (INIS)

    Phillips, E.

    2001-01-01

    This power point presentation outlined the values of wholesale and retail marketing of natural gas to offer choice to all Canadians. The initial wholesale market dealt with physical bilaterals, financial bilaterals and transmission rights, while the mature wholesale market deals with futures contracts, reserve markets, dispatchable loads, swaps, trades and emissions trading. Wholesale prices include debt reduction charges, transmission charges transformation charges, ancillary charges, and independent market operator (IMO) fees. Retail rates offered by local distribution companies (LDC) include distribution charges, adjustments to SSS, and distribution losses. The role of marketers is to provide consumers with what they want, which is annual fixed rates with aggregation and load profiling as well as billing and procurement services

  15. The European Gas and Oil Market: The Role of Norway

    International Nuclear Information System (INIS)

    Harbo, F.

    2008-01-01

    The research question of this paper is related to the role of Norway in the European gas and oil market. This study aims to give a presentation of the energy policy in Norway and Norwegian participation at the European level. The first chapter will introduce Norwegian relations with Europe. For the purpose of my research, I will focus mainly on Norwegian energy policy in the second chapter, presenting Norway's oil industry in chapter 2.1.; Norwegian gas production in chapter 2.2.; and the Norwegian electrical power system in chapter 2.3. The sub-chapter 2.4. will analyse in detail the activity of the largest Norwegian oil and gas company, StatoilHydro. The third chapter will be dedicated to Norway's green energy policy (wind, sun and water), etc. The fourth chapter looks at the European perspective and will examine the European strategic gas and oil market in a globalized world. The fifth chapter will present Norway's participation in the European gas and oil market. Such strategic research must also include a look at the European Union's (EU) energy market development between Russia and Norway, which will be presented in chapter six. And finally, Norway's contribution to the development of an EU energy policy in fighting climate change will be emphasised in chapter seven. This research will analyse the following central issues: - Norwegian oil industry, - Norwegian gas production, - Norwegian electrical power system, - Norwegian challenges in the European gas and oil market. (author)

  16. Russian gas in the west European market

    International Nuclear Information System (INIS)

    Nikitin, B.A.

    1996-01-01

    The paper relates to the Russian supply of natural gas to the west European market. Following themes are discussed: The resource basis of the gas industry; analysis of the European gas market; projects for Russian gas supply to Europe; international co-operation

  17. The economics of electricity markets

    CERN Document Server

    Biggar, Darryl R

    2014-01-01

    With the transition to liberalized electricity markets in many countries, the shift to more environmentally sustainable forms of power generation and increasing penetration of electric vehicles and smart appliances, a fundamental understanding of the economic principles underpinning the electricity industry is vital. Using clarity and precision, the authors successfully explain economic theory of all liberalized electricity market types from a cross-disciplinary engineering and policy perspective. No prior engineering knowledge or economics expertise is assumed in introducing key ideas such as nodal pricing, optimal dispatch and efficient pricing or in extending those models to areas including investment, risk management and the handling of contingencies. Key features: Comprehensively covers the principles of all liberalized electricity market types, including the US, Europe, New Zealand and Australia. Provides up to date coverage of research and policy iss es, including design of financial transmission rig...

  18. Competition in electricity markets

    International Nuclear Information System (INIS)

    Taylor, W.

    1996-01-01

    This article examines expanded wholesale and retail competition and the effect that they are likely to have on the electric power industry. The author believes that expanded wholesale competition is good and will bring immediate benefit to all electric consumers; however, based on the experience of the natural gas industry and the electric power industry in California and other parts of the world, the author counsels caution in moving toward expanded retail competition

  19. Study on electricity markets in Romania

    Directory of Open Access Journals (Sweden)

    Alexandra FLOREA

    2017-03-01

    Full Text Available In this paper, we detail about the components of the wholesale electricity market in Romania: Market for Bilateral Contracts (Central Market with continuous double negotiation of bilateral electric energy contracts (CM - OTC, Centralized Market for bilateral electric energy contracts, Day-Ahead Market (DAM, Inter-Daily Market (IM, Balancing Market (BM, Centralized Market for universal service (CMUS. In addition, for each type of market we generated diagrams with the main business processes.

  20. Reforming the Russian electricity market

    International Nuclear Information System (INIS)

    Valladares, Mayra Rodriguez

    1999-08-01

    Contains Executive Summary and Chapters on: Overview; Russian energy markets; Evolution of the power sector; The electricity market; Regulation and proposed reforms; Politics in the power sector; Economics of the power sector; Regional differences; Foreign involvement; Valuation and company management; Conclusions. (Author)

  1. Book Review: Diversity in European Marketing

    OpenAIRE

    Hana Machková

    2012-01-01

    The case book “Diversity in European Marketing” is the result of the scientific cooperation of the CEMS Marketing Faculty Group. Prestigious Central European Universities - Corvinius University of Budapest and University of Economic, Prague - are members of CEMS - the Global Alliance in Management Education of 26 leading business schools and 70 multinational companies. Four authors from these two Universities share in this book their experience of Central European Marketing specifics.

  2. Integrating Renewables in Electricity Markets

    DEFF Research Database (Denmark)

    Morales González, Juan Miguel; Conejo, Antonio J.; Madsen, Henrik

    in the electricity market. • The development of procedures to enable demand response and to facilitate the integration of stochastic renewable units. This book is written in a modular and tutorial manner and includes many illustrative examples to facilitate its comprehension. It is intended for advanced...... such as: • The modeling and forecasting of stochastic renewable power production. • The characterization of the impact of renewable production on market outcomes. • The clearing of electricity markets with high penetration of stochastic renewable units. • The development of mechanisms to counteract...

  3. Energy markets and European Integration: The World Energy Council role

    International Nuclear Information System (INIS)

    Murray, J.

    2002-01-01

    Energy market reform brings many benefits. Central and East Europe's challenge is to establish such markets when, at list in the case of electricity, the established market economies are still wrestling with how to apply competitive principles to this market. Design challenges include the natural monopoly elements within the electricity supply chain and the fact that it is, in practical terms, as essential social service. There is no one single model suitable to all markets at all stages of development. At the same time, there is a need for sustainable energy pricing, which means prices should cover all costs, with transparent and time-limited subsidies bringing the afford ability gap. Cross-border integration extends the benefits available from market reform by overcoming constraints at the national level and by broadening the geographical limits of a market. The World Energy Council works with its Central and East European members to analyse, understand and meet these challenges. (author)

  4. Essays on restructured electricity markets

    Science.gov (United States)

    Nicholson, Emma Leah

    This dissertation focuses on the performance of restructured electricity markets in the United States. In chapter 1, I study bidder-specific offer caps ("BSOCs") which are used to mitigate market power in three wholesale electricity markets. The price of electricity is determined through multi-unit uniform price auctions and BSOCs impose an upper limit, which is increasing in marginal cost, on each generator's bid. I apply BSOCs in both the uniform and discriminatory price auctions and characterize the equilibria in a two firm model with stochastic demand. BSOCs unambiguously increase expected production efficiency in the uniform price auction and they can increase the expected profit of the generator with the lower cap. Chapter 2, coauthored with Ramteen Sioshansi, Ph.D., compares two types of uniform price auction formats used in wholesale electricity markets, centrally committed markets and self committed markets. In centrally committed markets, generators submit two-part bids consisting of a fixed startup cost and a variable (per MWh) energy cost, and the auctioneer ensures that no generator operates at a loss. Generators in self committed markets must incorporate their startup costs into their one part energy bids. We derive Nash equilibria for both the centrally and self committed electricity markets in a model with two symmetric generators with nonconvex costs and deterministic demand. Using a numerical example, we demonstrate that if the caps on the bid elements are chosen appropriately, the two market designs are equivalent in terms of generator revenues and settlement costs. Regulators and prominent academic experts believe that electric restructuring polices have stifled investment in new generation capacity. In chapter 3 I seek to determine whether these fears are supported by empirical evidence. I examine both total investment in megawatts and the number of new investments across regions that adopted different electric restructuring policies to

  5. Liberalising the European natural gas market

    International Nuclear Information System (INIS)

    Mulder, M.

    2002-01-01

    Europe's natural gas market is changing radically. The several national markets dominated by monopolistic suppliers are integrating into one European market in which production and trade are subject to competition, while transport through the networks will be unbundled and placed under regulatory influence. What will be the consequences of these changes on natural gas prices, supply security and the environment?

  6. Electricity marketing and retailing

    International Nuclear Information System (INIS)

    Sandre, L.

    2001-01-01

    PremStar Metering Inc. is a division of PremStar Energy Canada. In addition to providing full-service meter and data services PremStar Metering provides collection, validation, analysis and billing services, working closely with the Ontario Energy Board, independent market operator (IMO) and Measurements Canada. This presentation addressed the market power mitigation agreement (MPMA) as well as issues dealing with wholesale competition seen mostly in the power generation sector. It was noted that the goal of the MPMA is to promote competition in the marketplace. Issues regarding the short term revenue limitation and the long term generation limitation of the MPMA were also discussed. figs

  7. Marketing of electric vehicles

    DEFF Research Database (Denmark)

    Gärling, Anita; Thøgersen, John

    In this paper, an outline of a two-phased strategy for the targeted marketing of EVs is developed based, first, on a discussion of the current and expected future characteristics of EVs and, second, on a review of research on the characteristics of early adopters of new products....

  8. New electric power market

    International Nuclear Information System (INIS)

    Zorzoli, G.B.

    1992-01-01

    In a trend analysis of methods of energy production and use, this paper cites forecasted significant gains in efficiency through the use of combined cycles for heat and power production, and rapidly falling costs of solar and wind power plants. A technical/economic feasibility analysis is then performed on the future use of electric vehicles in Italy. Here, the paper cites the possible benefits in terms of energy conservation and air pollution abatement. A review is made of current progress in research efforts aimed at reducing electric battery sizing, weight and recharging constraints

  9. Electricity market players subgroup report

    International Nuclear Information System (INIS)

    Borison, A.

    1990-03-01

    The purpose of this study is to examine competition in the electric power industry from an ''industrial organization'' point of view. The remainder of this report is organized as follows. Chapter 2 describes the ''industrial organization'' approach used to analyze the electric power market. Industrial organization emphasizes specific market performance criteria, and the impact of market structure and behavior on performance. Chapter 3 identifies the participants in the electric power market, grouped primarily into regulated producers, unregulated producers, and consumers. Chapter 4 describes the varieties of electric power competition, organized along two dimensions: producer competition and consumer competition. Chapters 5 and 6 identify the issues raised by competition along the two dimensions. These issues include efficiency, equity, quality, and stability. Chapters 7 through 9 describe market structure, behavior and performance in three competitive scenarios: minimum competition, maximum competition, and moderate competition. Market structure, behavior and performance are discussed, and the issues raised in Chapters 5 and 6 are discussed in detail. Chapter 10 provides conclusions about ''winners and losers'' and identifies issues that require further study

  10. Essays on environmental regulations in electricity markets

    Science.gov (United States)

    Sun, Yanming

    Reducing the Greenhouse Gas pollution and promoting energy efficiency among consumers' energy use have been major public policy issues recently. Currently, both the United States and the European Union have set up explicit percentage requirements that require energy generators or consumers to undertake a certain percentage of their energy production or consumption from renewable sources. To achieve their renewable targets, the Tradable Green Certificates (TGC) system has been introduced in their electricity markets. Moreover, in order to promote energy conservation and achieve energy efficiency targets, price policies and price changes derived from environmental regulations have played a more important role in reducing electricity consumption. My research studies problems associated with these policy implementations. In Chapter 1, I analyze a competitive electricity market with two countries operated under a common TGC system. By using geometric illustrations, I compare the two countries' welfare when the renewable quota is chosen optimally under the common certificate market with three different situations. The policy recommendation is that when the value of damage parameter is sufficiently small, full integration with a TGC market is welfare superior to full integration of an all fossil-fuel based market with an optimal emissions standard. In Chapter 2, by analyzing a stylized theoretical model and numerical examples, I investigate the performance of the optimal renewables policy under full separation and full integration scenarios for two countries' electricity markets operated under TGC systems. In my third chapter, I look at residential electricity consumption responsiveness to increases of electricity price in the U.S. and the different effect of a price increase on electricity use for states of different income levels. My analysis reveals that raising the energy price in the short run will not give consumers much incentive to adjust their appliances and make

  11. Electricity market under change

    International Nuclear Information System (INIS)

    1992-11-01

    The electric power sector of the countries and their many problems are described. Statistical data on supply and demand pieces, primary energy use et cetera are given. A brief overview of the economical situation, and a discussion of nuclear power safety in the area are presented. (34 refs., 7 figs., 37 tabs.)

  12. THE EMERGENCE OF THE EUROPEAN COUNTERFEIT MARKETS

    Directory of Open Access Journals (Sweden)

    Loredana Maftei

    2013-07-01

    Full Text Available The European market of counterfeit goods has become a subject of increasing concern for businesses, private firms and policymakers. With a growing demand in consumption for this kind of goods, each sector is damaged from the toy industries to the pharmaceuticals industry. This article is aimed to expose the dynamic of the European counterfeiting markets, to highlight the main factors of production, the main providers, the smuggling routes, the overall profit, the main counterfeit products and also to offer a general perspective on the affected European markets.

  13. European Market Making and Policy Duplication

    DEFF Research Database (Denmark)

    Frankel, Christian

    2013-01-01

    This paper argues that private regulation has been essential to the making of the common European market. The distinction between negative and positive integration, usually used to understand the making of the common European market, only gives us part of the picture, as it focuses on public...... authorities and the regulation issued by them, and tends to ignore private authorities. A focus on private regulation is suggested to enlarge the focus on positive and negative integration, and this is used in an analysis of EU's removal of barriers to trade from 1958 to 2000. The paper shows that private...... regulation in the form of technical standardisation has become essential to European market making....

  14. Electric power markets in Europe 1993; Elmarknaderna i Europa 1993

    Energy Technology Data Exchange (ETDEWEB)

    Hermanson, K; Lublin, Z; Olofsdotter, A; Petsala, B; Wuolikainen, T

    1993-12-01

    The development of power markets in Europe is described. Special attention is devoted to the development in France, Germany, Denmark, Finland and Norway. The planned deregulation of the Swedish electric power market will promote an increased trade with electricity across the border. The possibilities and consequences of this trade is elucidated. Also given is a compilation of electric power prices for different groups of consumers, and the differences among European countries. 7 figs, 26 tabs

  15. Electricity costs in liberalized market

    International Nuclear Information System (INIS)

    Barkans, J.; Junghans, G.

    2006-01-01

    In the liberalized electricity market the flexible demand determines the operation of power plants. Under market conditions the producers are forced to compete, and their power plants are normally loaded in order of increasing prices. The electricity costs consist of fixed and variable components, and the competition among producers simulates minimization of both the components. Considering the fixed costs (including maintenance, depreciation, capital costs and other permanent costs not depending on production) to be known, the total electricity costs in different operating conditions are based on the economic characteristics and the equipment load of a power plant. The paper describes the method for determination of electricity costs for condensing thermal power plants with permanent steam take-off for regeneration purposes and adjustable steam take-off for the needs of local heat energy consumers. The marginal costs for CHP plants are determined considering a number of different steam take-off from a turbine. At the electricity cost determination, auxiliary services also are taken into account. These can be reduced by adjusting the rotational speed of electric motors. The paper also shows how to determine the electricity costs for gas turbines, combined cycle gas turbines, and nuclear power plants. The position of hydro power plants among other PPs in the free market is also analysed. (authors)

  16. Developments in the European methanol market

    International Nuclear Information System (INIS)

    Speed, J.

    1995-01-01

    In the late eighties/early nineties the World Methanol Market was basically divided into three regional markets--America, Asia Pacific and Europe. These markets were interrelated but each had its own specific characteristics and traditional suppliers. Now the situation has changed; in the mid nineties there is a Global Methanol Market with global players and effective global pricing and the European market is governed by events world-wide. Europe is however a specific market with specific characteristics which are different from those of other markets although it is also part of the Global Market. Hence before the author focuses on Europe he looks at the World Market. The paper discusses world methanol production and consumption by region, world methanol consumption by end use, world methanol supply demand balance, the west European market, western European methanol production, methanol imports to W. Europe, the Former Soviet Union supplies, W. European methanol consumption by end use, MTBE in Europe, duties on methanol imports into W. Europe, investment in Europe, the effect of the 1994/95 price spike, and key issues for the future of the industry

  17. The strategy of players on the European gas market

    International Nuclear Information System (INIS)

    Lecarpentier, A.

    2006-01-01

    One result of opening up the European gas market to competition has been to increase the number and diversity of the players involved, whether producers, suppliers or electric utilities. However, while the gas on offer is still controlled by a handful of market players given the increasing importance of state-owned companies from exporting countries outside Europe, the downstream gas sector continues to show a strong concentration of incumbent operators seeking a dominant position in the supply of gas. (author)

  18. The strategy of players on the European gas market

    Energy Technology Data Exchange (ETDEWEB)

    Lecarpentier, A

    2006-07-01

    One result of opening up the European gas market to competition has been to increase the number and diversity of the players involved, whether producers, suppliers or electric utilities. However, while the gas on offer is still controlled by a handful of market players given the increasing importance of state-owned companies from exporting countries outside Europe, the downstream gas sector continues to show a strong concentration of incumbent operators seeking a dominant position in the supply of gas. (author)

  19. The EU's major electricity and gas utilities since market liberalization

    International Nuclear Information System (INIS)

    Schuelke, Christian

    2011-06-01

    A major change has taken place in the company structure of the European electricity and gas markets. Twenty years ago, national or regional monopolies dominated the markets and there was strictly no competition between utilities. But since the liberalization of EU energy markets began in the 1990's, companies like E.ON, GDF Suez, EDF, Enel, and RWE have become European giants with activities in a large number of Member States. The advocates of market liberalization did not expect, or even intend, the emergence of a small number of large utilities that control an increasing part of the EU market. Some observers already claim that liberalization has led to an oligopoly with detrimental consequences for competition. Based on extensive background research, this book presents a fact-based analysis of the changes in the European utility sector since the 1990's. Case studies of the seven largest utilities illustrate how companies adapted their strategies to the changing market environment. The author underlines diverging choices and common trends like geographic expansion into new markets via mergers and acquisitions or diversification of business activities with the aim of using synergies between electricity and gas. Contents: Executive Summary. Introduction. Seven Case Studies of Changing Strategies of Major European Energy Utilities since Market Liberalization (E.ON, GDF Suez, EDF, Enel, RWE, Iberdrola, Vattenfall, Other European Utilities). Overview of Major National and Regional Electricity and Gas Market in the EU (Germany, France, United Kingdom, Italy, Spain, Nordic, Belgium and the Netherlands, Central and Eastern Europe). Conclusions. Annex. Bibliography

  20. Natural gas supply strategies for European energy market actors

    International Nuclear Information System (INIS)

    Girault, Vincent

    2007-06-01

    The liberalization of the European energy markets leads to the diversification of supplies. Hence, we analyse the natural gas importation problem in a power producer point of view. Upstream and downstream natural gas markets are concentrated. In this oligopoly context, our topic is to focus on strategies which modify natural gas sourcing price. This by studying the surplus sharing on the natural gas chain. A European firm can bundle gas and electricity outputs to increase its market share. Therefore, a bundling strategy of a power producer in competition with a natural gas reseller on the final European energy market increases upstream natural gas price. Bundling also acts as a raising rival cost strategy and reduces the rivals' profit. Profits opportunities incite natural gas producers to enter the final market. Vertical integration between a natural gas producer and a European gas reseller is a way, for producers, to catch end consumer surplus. Vertical integration results in the foreclosure of the power producer on the upstream natural gas market. To be active on the natural gas market, the power producer could supply bundles. But, this strategy reallocates the rent. The integrated firm on natural gas gets the rent of electricity market in expenses of the power producer. Then, a solution for the power producer is to supply gas and electricity as complements. Then, we consider a case where vertical integration is not allowed. Input price discrimination by a monopolist leads to a lower natural gas price for the actor which diversifies its supplying sources. Furthermore, a bundling strategy increases the gap between the price proposed to the firm which also diversify its output and the firm which is fully dependent from the producer to supply natural gas on final market. (author)

  1. New structures in the European gas market

    International Nuclear Information System (INIS)

    Tangen, Kristian

    1997-01-01

    The aim of this study is to provide a background for assessing elements of change in the European gas market that in the long run may produce new framework conditions for Norwegian gas exports. It will also serve as an empirical basis for further studies. The main question is: What can the extension of the pipeline network and the growing number of actors tell us about future competition in spite of the fact that both Russia, Algeria and Norway have non-contracted capacity in the pipelines they are building. A number of uncertainties make it hard to draw any clear conclusions about a totally different competitive situation than only a few years ago. In the Netherlands groups of former distribution companies are threatening Gasunies' monopoly while Ruhrgas' attempt to expand into Austria may lead to gas to gas competition there. Signs of a similar development are seen in Italy and Spain as well. Increasing competition can be explained partly by the growing number of actors downstream in the gas market - in trade, transmission and among the large consumers, the electricity producers, the consequence of direct volumes and of shorter duration which in itself promotes competition. Several large pipeline projects have been carried through in co-operation between several actors which indicates that new types of projects are being developed in order to reduce risks for each actor. These will be easier to realise in the absence of long-term ''take-or-pay'' contracts at company level, what we may call companies rhetoric and argumentation as a result of comprehensive market positioning. Furthermore it seems likely that a kind of spot market will develop. Even if we can expect that only small volumes will be traded through this channel at first. Such a development may have considerable influence on prices in the long run. 5 tabs, 29 refs

  2. Bottleneck management in the German and European electricity supply

    International Nuclear Information System (INIS)

    Koenig, Carsten

    2013-01-01

    This publication describes how bottlenecks in the German and European electricity supply pose a danger to the realization of the European internal market in electricity, the transition to electricity production from renewable resources and to the safeguarding of grid availability and security of supply. Bottlenecks at cross-border interconnectors between member states of the European Union are hampering cross-border trade in electricity, posing an impediment to EU-wide competition among electricity production and electricity trading companies. Grid bottlenecks at cross-border interconnectors isolate national markets from one another, with the result that it is not always possible in the European Union to have the most competitive power plant produce electricity. This amounts to a loss of welfare compared with what it would be in the case of an electricity supply without bottlenecks. Furthermore, bottlenecks make it impossible for green electricity that would be eligible for promotion for reasons of climate and environmental protection to be transmitted unimpeded from the most suitable site to the consumer regions. Thus the transmission of electricity produced from wind power in Northern Germany to the industrial centres in Southern Germany is impeded by bottlenecks along the north-south lines of the national transmission network. Today some of the German electricity supply networks already have to be operated near the limits of their capacity, especially during high wind episodes. This poses a growing danger to network availability and security of supply. Since the installation, expansion and conversion of electricity supply networks in Germany and other member states of the European Union is no longer progressing at the required speed, growing importance attaches to the management of bottlenecks. The goal of bottleneck management is to resolve conflicts over network use such as can occur in overload situations with as little discrimination and as little

  3. Wind power and a liberalised North European electricity exchange

    Energy Technology Data Exchange (ETDEWEB)

    Nielsen, L H; Morthorst, P E; Skytte, K [and others

    1999-03-01

    Conditions for wind power on a liberalised North European electrical power market are addressed in the paper. Results are presented from a recently completed study carried out by Risoe National Laboratory in collaboration with the Danish electric utilities Eltra, Elsam and Elkraft. A main result from the study is, that the market will be able to provide the necessary power regulation, that will be required year 2005 as consequence of the expected wind power capacity extension, according to the Danish energy plan, Energy21. The averege sales price on the market for the wind-generated electricity is less than the average spot market price, due to provision of power regulation to balance the unpredictability of the wind power. This reduction in the market value of wind power has been calculated to 10-20 DKK/MWh of 1.3-2.7 EUR/MWh. (au)

  4. Norwegian gas supplies for the European market

    International Nuclear Information System (INIS)

    Hansen, B.L.

    1994-01-01

    The conference paper deals with the Norwegian key role in the European gas market with increasing market shares. The supply capacity in a long-term perspective can be 65-70 bcm/year or more if export prices support the development of new and more costly gas resources. The main challenges for the Norwegian shelf are discussed. 5 figs

  5. Absence of a market in the Dutch balancing mechanism: European rules versus specific investments

    NARCIS (Netherlands)

    Niesten, E.M.M.I.; Jolink, A.

    2013-01-01

    The European directives for the electricity industry prescribe the creation of a market for balancing electricity supply and demand. In this paper, we demonstrate that a market for balancing has not emerged in the Dutch electricity industry, and that, instead, the balancing transactions are

  6. Evaluation of Economic Merger Control Techniques Applied to the European Electricity Sector

    International Nuclear Information System (INIS)

    Vandezande, Leen; Meeus, Leonardo; Delvaux, Bram; Van Calster, Geert; Belmans, Ronnie

    2006-01-01

    With European electricity markets not yet functioning on a competitive basis and consolidation increasing, the European Commission has said it intends to more intensively apply competition law in the electricity sector. Yet economic techniques and theories used in EC merger control fail to take sufficiently into account some specific features of electricity markets. The authors offer suggestions to enhance their reliability and applicability in the electricity sector. (author)

  7. Perspectives of new fossil-fuelled power plants with CO{sub 2} capture in the liberalised European electricity market; Energiewirtschaftliche Anforderungen an neue fossil befeuerte Kraftwerke mit CO{sub 2}-Abscheidung im liberalisierten europaeischen Elektrizitaetsmarkt

    Energy Technology Data Exchange (ETDEWEB)

    Kober, Tom

    2014-03-15

    Against the background of an increasing importance of climate change mitigation and the liberalization of the European energy supply this study assesses the perspectives of power plants with Carbon dioxide Capture and Storage (CCS). CCS power plants represent one option to reduce CO{sub 2} emissions of fossil energy based electricity production significantly. In this study the deployment of CCS power plants is investigated for the European electricity market until 2050 taking different energy and climate policy framework conditions into consideration. By applying an integrated model-based approach, structural changes of the whole energy system are incorporated, including their implications on costs and emissions. The study addresses uncertainties concerning future CCS power plant invest costs and efficiencies explicitly, and analyses the effects of changes of these parameters with respect to the perspectives of CCS power plants in Europe. Thereby, interdependencies on horizontal level related to competition of different technologies within the electricity sector are examined, but also vertical interdependencies resulting from effects between the upstream and energy demand sectors. In order to reflect the heterogeneity among the national energy systems in Europe, country specific particularities on technical aspects and energy policy are taken into account, such as potentials and costs of CO{sub 2} storage, and national regulations on the use of nuclear power and renewable energy. The results of the analysis reveal a strong influence of the stringency of the EU greenhouse gas reduction target and the policy on the use of nuclear energy on the perspectives of CCS power plants in the European electricity market. Comparing the influence of different policy frameworks analysed in this study with the influences of the variation of the technical and economic CCS power plant parameters shows, that uncertainties concerning energy policy measures can have a stronger

  8. The development strategies of the european electric power companies

    International Nuclear Information System (INIS)

    Heddebaud, D.

    2005-01-01

    This study takes stock on the european market of the electric power and of its development perspectives. It details the strategy and the place of the main operators and shows their forces and weaknesses. It provides a comparison of the financial performances of 28 companies (growth, margins, profitability, debt and war chest). (A.L.B.)

  9. Nordic market report 2009 : Development in the Nordic electricity market

    Energy Technology Data Exchange (ETDEWEB)

    2009-07-01

    The Nordic region is characterized by a unique mix of generation sources where the high share of hydropower, representing virtually all of the Norwegian and nearly half of the Swedish generation capacity, has a great influence on the market. The level of precipitation is thus vital when calculating and analysing potential generation levels. In addition, the Nordic region has significantly colder winters than any other European country, influencing the consumption as many households are electrically heated. In 2008 the overall electricity consumption in the Nordic region was slightly higher - 1.6 per cent - than in 2007. During periods of peak consumption the Nordic power system proved sufficient to ensure security of supply without restrictions on consumption. The Nordic region operates almost entirely as one synchronous power system through transmission grid. The continuous reinforcement of the Nordic transmission grid has enabled an increased security of supply as well as a more efficient use of the generation capacity. Increasing cross border power flows strain the transmission lines and increases the demand for transmission capacity. Possible congestions occurring between the Nord Pool bidding areas are handled through market splitting, while internal congestions in general are handled through counter trade or by reducing interconnector capacity at the bidding area borders. The Nordic wholesale power market is a well functioning electricity market. Trade at Nord Pool has increased steadily since it was established in 1993. Although trading at Nord Pool Spot is voluntary, significantly more physical power is now traded on the power exchange than bilaterally - from 42 per cent of total Nordic consumption in 2004 to 76 per cent in 2008. During 2008 average spot prices at Nord Pool were considerably higher (approximately 60 per cent) than prices in 2007. The Nordic retail markets are essentially four separate markets, influenced by national differences, but work on

  10. Nordic market report 2009. Development in the Nordic electricity market

    Energy Technology Data Exchange (ETDEWEB)

    2009-07-15

    The Nordic region is characterized by a unique mix of generation sources where the high share of hydropower, representing virtually all of the Norwegian and nearly half of the Swedish generation capacity, has a great influence on the market. The level of precipitation is thus vital when calculating and analysing potential generation levels. In addition, the Nordic region has significantly colder winters than any other European country, influencing the consumption as many households are electrically heated. In 2008 the overall electricity consumption in the Nordic region was slightly higher - 1.6 per cent - than in 2007. During periods of peak consumption the Nordic power system proved sufficient to ensure security of supply without restrictions on consumption. The Nordic region operates almost entirely as one synchronous power system through transmission grid. The continuous reinforcement of the Nordic transmission grid has enabled an increased security of supply as well as a more efficient use of the generation capacity. Increasing cross border power flows strain the transmission lines and increases the demand for transmission capacity. Possible congestions occurring between the Nord Pool bidding areas are handled through market splitting, while internal congestions in general are handled through counter trade or by reducing interconnector capacity at the bidding area borders. The Nordic wholesale power market is a well functioning electricity market. Trade at Nord Pool has increased steadily since it was established in 1993. Although trading at Nord Pool Spot is voluntary, significantly more physical power is now traded on the power exchange than bilaterally - from 42 per cent of total Nordic consumption in 2004 to 76 per cent in 2008. During 2008 average spot prices at Nord Pool were considerably higher (approximately 60 per cent) than prices in 2007. The Nordic retail markets are essentially four separate markets, influenced by national differences, but work on

  11. Measuring competitiveness of the EPEX spot market for electricity

    International Nuclear Information System (INIS)

    Graf, Christoph; Wozabal, David

    2013-01-01

    The issue of market concentration in electricity markets and resulting possible anti-competitive behavior of producers is a much discussed topic in many countries. We investigate the day-ahead market for electricity at the EPEX, the largest central European market for electricity. To analyze whether generating companies use their market power to influence prices, we use a conjectural variations approach as well as a direct approach to construct marginal costs of electricity production. Given the available data, we cannot reject the hypothesis that there was no systematic abuse of market power by the suppliers of electricity on the EPEX day-ahead spot market for the years 2007–2010. These results are essentially robust when restricting the sample to high load hours, which are generally considered to be the most prone to market manipulation. -- Highlights: •We investigate the efficiency of the German spot market for electricity. •We employ a conjectural variations approach and a fundamental market model. •Peak load hours and base load hours are analyzed separately. •We find that the market was competitive from 2007 to 2010 for both base and peak hours. •Policies to promote market transparency in Germany can be regarded as successful

  12. The liberalization of electricity markets

    International Nuclear Information System (INIS)

    Lepage, H.; Boucher, M.

    2001-01-01

    Since the end of the 1980s, the electric industry is changing. Privatization, vertical disintegrations, deregulation, restructuring, market openness are models which cause the world to question the regulated model inspired from natural monopolistic theories that are emerging in many parts of the industrialized world. Why are we witnessing these changes? What makes competitiveness possible in an industry where it was always assumed that market forces could not be relied upon? How do these markets function? On what basis and with what rules? What lessons can be learned from the experiments now taking place? This document updates this complex economic process, which proved irreversible, despite badly thought out deregulation in California and other locales. The authors explain the changes that have taken place in the electricity industry in the United States since the First World War and compares experiences with deregulation in Canada, Europe and Australia. The public monopoly being exercised by Hydro-Quebec in Quebec is examined in detail and avenues for changes in the context of liberalization of electricity markets in North America are discussed. refs., figs

  13. Roadmap towards a competitive European energy market

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-10-15

    With the financial crisis evolving into a severe, global economic recession, there have been growing doubts over whether energy markets can continue to operate efficiently under present conditions or whether the shift to non-market mechanisms would be a better choice. This question remains an ongoing source of debate in the recently liberalised electricity sector. Textbook wisdom says that the market is the most efficient place to allocate financial means for investments. Therefore, during a period of a crisis, it should follow that we actually need more market mechanisms, not fewer, if we want to stimulate investments in an economically efficient way. Regulated electricity prices and nationalistic thinking will not help to solve Europe's electricity challenges with regards to either the generation or the transportation of electricity.

  14. The single European market - a Schumpeterian event?

    OpenAIRE

    Siebert, Horst

    1989-01-01

    It is now four years after the White Paper launched the project on the completion of the internal market [Commission, 1985]. 300 steps were packaged and sold in a manner by Delors and Lord Cockfield that "caught on". The basic strategy is simple: abolish or reduce market segmentations that still exist, facilitate free market access, as well as establish the free movement of people, goods, services, and capital (the so-called four freedoms). Will the single European market prove to be an insti...

  15. Natural gas market - Market opening in Switzerland and a selection of European Union countries

    International Nuclear Information System (INIS)

    Wild, J.; Vaterlaus, S.; Worm, H.; Spielmann, Ch.; Finger, M.

    2007-02-01

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) takes a look at the situation in Switzerland and Europe as far as the liberalisation of the natural gas market is concerned. Comparisons are made between the situation for natural gas and electricity markets. The report discusses the economical and technical characteristics of the gas business such as gas sources, transport, storage and trading as well as the associated investment risks. The gas and electricity supply systems are compared from the supply and demand viewpoints and as far as trading and the increasing of efficiency are concerned. The Swiss gas market is compared with those of selected European countries. Market structures and regulatory aspects are examined and the resulting effects on the market and gas prices are reviewed. The effects of market opening are discussed from both the supplier and consumer points of view

  16. Prospects of the European gas market

    International Nuclear Information System (INIS)

    Kjarstad, J.; Johnsson, F.

    2007-01-01

    This paper discusses prospects for increased consumption of natural gas within the European Union (EU) up to 2030. Particular emphasis is on the power generation sector, where the main growth in demand is expected to occur, on supply and infrastructural constraints and on future price of natural gas. It can be concluded that EU gas-import needs will increase substantially up to 2010, driven by a combination of rapid increase in demand in southern Europe and declining production in northern Europe. As a result there will be an increased import dependency which will affect security of supply, not only in the gas sector but also in the electricity sector. Gas demand after 2010 will partially depend on the level of continued CO 2 emission restrictions, a possible nuclear phase-out in the UK, Germany and Belgium and to what extent the option to store CO 2 in subsurface reservoirs will be applied. However, supplies of gas are plentiful, at least in the medium-term up to 2010/2015, and a number of new countries will emerge as substantial suppliers to the European gas market, increasing competition and possibly leading to a situation of oversupply between 2008 and 2012 which in turn may create a downward pressure on gas prices. In addition, the US market may, pending on demand and indigenous production, experience considerable oversupply between around 2008 and 2015, reducing the possibilities of conducting arbitrage between the two main markets in the Atlantic basin and further contributing to a downward pressure on the gas price. On the other hand, the oil price will continue to be a major determinant of the gas price and a tight oil supply/demand balance will create an upward pressure on the gas price. Global liquefaction and regasification capacity is expected to more than double between now and 2010 leading to a more flexible and global gas trading and increasing spot sales and although the cost of LNG has decreased substantially over the past three decades it is

  17. Natural gas industry in European Community and european single market

    International Nuclear Information System (INIS)

    Cadoret, I.

    1992-01-01

    Common Market of natural gas is dominated by some companies. In several Member Countries, one company only manages the whole industry. European Economic Community thinks this type of structure induce hindrances to free circulation of natural gas in Europe. 10 refs

  18. THE STEEL EUROPEAN STOCK MARKET EFFICIENCY

    Directory of Open Access Journals (Sweden)

    Viorica CHIRILA

    2015-12-01

    Full Text Available Testing the hypothesis of informational efficiency is a permanent preoccupation of researchers because the theories and the models of modern finance are based on it. This paper presents the results obtained after testing the efficiency hypothesis, in the weak form, for the European stock market of the companies that belong to the economic steel sub-sector. Following the use of both linear and non-linear tests of autocorrelation of returns we can conclude that the European stock market in the economic steel sub-sector is inefficient from an informational point of view and the investors in these stocks may obtain better results than those of the European market in general.

  19. Organisation development possibilities of Croatian electricity markets

    International Nuclear Information System (INIS)

    Toljan, I.

    1999-01-01

    Organisational development of the European Union members' power sector is defined by the obligatory legislative document D irectives 92/96 EC, 19.12.1996 . The development goal is a natural monopoly decrease and introduction of competition, having in mind environmental protection which will enable sustainable development of each member. This would provide the European economy to become globally more competitive and to protect macro economic stability more efficiently. The EU members are allowed to make their own decisions regarding the mode of implementation they will use to establish the organisation of electricity market. Non-members of EU are also involved in defining future changes. Developed non-members are more efficient in that process and promptly follow all changes. Transition countries, among them also Croatia, are trying to adjust to such demands, with different success. The aim of this paper is analyse the current Croatian power system and the possibilities if its modernisation. (author)

  20. Examining market power in the European natural gas market

    International Nuclear Information System (INIS)

    Egging, R.G.; Gabriel, S.A.

    2006-01-01

    In this paper, we develop a mixed complementarity equilibrium model for the European natural gas market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfectly competitive and are combined with extensive pipeline, seasonal, and other data reflecting the current state of the market. Four market scenarios are run to analyze the extent of market power by these producers as well as the importance of pipeline and storage capacity. (author)

  1. Examining market power in the European natural gas market

    International Nuclear Information System (INIS)

    Egging, Rudolf G.; Gabriel, Steven A.

    2006-01-01

    In this paper, we develop a mixed complementarity equilibrium model for the European natural gas market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfectly competitive and are combined with extensive pipeline, seasonal, and other data reflecting the current state of the market. Four market scenarios are run to analyze the extent of market power by these producers as well as the importance of pipeline and storage capacity

  2. The European Financial Market Stress Index

    OpenAIRE

    Shaen Corbet

    2014-01-01

    This research constructs and develops a financial stress index based on European financial markets. The integration of numerous sovereign states has created difficulty identifying stress in any one single financial component, but incorporating twenty-three headline European stress indicators across equities, bonds and currencies, in terms of both spreads and levels offer substantial explanatory benefits. The incorporation of a logistical framework specifically analysing the levels, volatility...

  3. Capacity competition in electricity markets

    International Nuclear Information System (INIS)

    Crampes, Claude; Creti, Anna

    2005-01-01

    The article analyzed a two-stage game where capacity constrained electricity generators first choose how much capacity they make available and then compete in a uniform-rice auction. It is studied how capacity withholding can be used strategically to enforce market power and how uniform auctions in the price game change the results of capacity constrained competition models. The uniform auction procedure gives strong incentives to capacity restriction. At equilibrium, however, power shortage never occurs. Though auctions in electricity markets have already been studied by several economists, yet an important feature of spot trading is the capacity availability decision. In fact, for technical reasons, such as equipment maintenance or failures, the installed capacity may not work at maximum operating level and the spot market rules oblige generators to announce which plants they are willing to use and simultaneously their offer prices. Beside technical reasons, the so-called 'capacity declarations' also offer a strategic instrument for firms: by restricting capacity, operators can benefit from scarcity rents. Assessing whether generators withhold capacity is an intriguing issue for real electricity markets, though proving it is a difficult task. Several theoretical papers show that generators are able to keep wholesale prices high as compared to their generation costs. In our model, a generator is not obliged to declare all installed capacity as available, but decides on the amount of MW of electricity that is available. Hence the available capacity is an endogenous variable while the installed one is exogenous. The distinction between installed capacities and 'available' capacities allows to explain clearly whether generators exert market power by declaring unavailable some production units. Although we find multiple sub game perfect equilibria that cannot be eliminated by Pareto-dominance, all the outcomes are characterized by market price at the highest

  4. European gas market developments. Opportunities and threats

    International Nuclear Information System (INIS)

    Van Oostvoorn, F.

    1998-09-01

    The paper is based on two studies conducted by ECN, namely a study entitled 'An analysis of the West-European gas market: a company approach' and another entitled 'Developments of gas markets across Europe' to be published in November 1998. The paper addresses the past driving factors responsible for the increasing share of gas in the EU energy demand. Furthermore it very briefly discusses the rising dependency of the European Union (EU) on gas imports from non-EU sources such as Russia and the expected gas-to-gas competition in a large number of EU countries in the next decades. 25 refs

  5. Wholesale electricity markets in Europe; Mercados Mayoristas de Electricidad en Europa

    Energy Technology Data Exchange (ETDEWEB)

    Rios, J. L.

    2010-07-01

    Electricity Wholesale Markets provide efficient operation of power stations, facilitate hedging instruments for generators and retailers and deliver price signals for new investments. Despite having a common regulatory framework at European level whose last aim is a single electricity market, Wholesale markets have been unevenly developed in each Member State. The evolution form a spot-based market towards a forward-based market needs a certain level of liquidity, transparency and regulatory stability. Interconnections are the key element to promote the integration of electricity markets. To facilitate this, European Regional Initiatives have pushed regulatory harmonization between countries and market coupling projects. (Author)

  6. The Western European Mobile Service Market

    DEFF Research Database (Denmark)

    Henten, Anders; Tadayoni, Reza; Hjarup, Søren

    The aim of the paper is to analyse the development of the structure in the Western European mobile services market, based primarily on technological and economic parameters. The focus of the analysis is on the market consolidation process, taking place horizontally, i.e. among the mobile network...... operators, and on the new companies entering the mobile field vertically, delivering, e.g., content and portal services, as convergence with Internet develops....

  7. Wholesale electricity market indicators - December 2013

    International Nuclear Information System (INIS)

    2013-12-01

    The wholesale electricity markets indicators publication aims to provide general monitoring indicators about: wholesale electricity prices, electricity trade between France and neighboring countries, fuel prices, availability and capacity of power generation means, and grid interconnections

  8. Wholesale electricity markets indicators - September 2013

    International Nuclear Information System (INIS)

    2013-09-01

    The wholesale electricity markets indicators publication aims to provide general monitoring indicators about: wholesale electricity prices, electricity trade between France and neighboring countries, fuel prices, availability and capacity of power generation means, and grid interconnections

  9. The restructuring of the Ontario electricity market

    International Nuclear Information System (INIS)

    Doucet, J.A.

    1999-01-01

    A summary of the current status of the deregulation of the electricity market in Ontario was presented. To follow global deregulation trends, the Ontario Government has embarked on a considerable restructuring of the Ontario electricity market. The monopoly position of Ontario Hydro has been removed by restructuring the provincial utility into two separate companies, GENCO and SERVCO, which will be responsible for the generation and transmission and distribution of electricity, respectively. Other mechanisms put in place to favour a free and competitive market for electricity in the province, such as the arrival on the market of other electricity producers, and the establishment of the independent market operator, are also discussed. 2 tabs

  10. Integrating gas and electric markets and regulation

    International Nuclear Information System (INIS)

    Whitmore, C.S.

    1998-01-01

    The issues determining what energy companies must do to compete in an increasingly competitive energy market and what regulators must do to ensure fairness in competition were discussed. The similarities of gas and electric markets, and the factors driving their integration were highlighted. The importance of communications and customer service in the energy market and the nature of market power in the gas and electric industries was described. Three reasons were given why gas/electric mergers will be beneficial: (1) operating efficiency, (2) applying gas experience to electric markets, and (3) opportunity to exercise market power. Potential regulatory problems were also reviewed

  11. Assessment of emission trading impacts on competitive electricity market price

    DEFF Research Database (Denmark)

    Singh, S.N.; Saxena, D.; Østergaard, Jacob

    2011-01-01

    analyzes the impact of electricity prices in the competitive electricity markets having a uniform market clearing price mechanism. Findings - It is found that the electricity prices depend on the system loading, generation mix, etc. at a particular hour. Various emission trading instruments are discussed...... side emission trading impact on electricity prices in the competitive power market. Design/methodology/approach - Various schemes are suggested and are being implemented to achieve this objective. It is expected that electricity price will increase due to imposition of emission taxes. This paper...... with a special emphasis on the European market. Research limitations/implications - Block bidding of the suppliers is considered whereas the demand is assumed to be inelastic. Originality/value - The emission trading impacts are analyzed on a simple example....

  12. An interpretative review of the electricity markets. A proposal

    International Nuclear Information System (INIS)

    Martini, A.; Pellegrini, L.; Gallanti, M.

    2001-01-01

    The electricity reform entails the passing from a monopolistic model based on costs to a competitive one grounded on market prices. The structural choices of the model must comply with technical constraints imposed by the electric system and have to be efficiency-driven. So far, more than a dozen of countries has completed the electricity industry restructuring process, with almost different solutions both in the architectural and the operational characteristics; this variety is even more emphasized whether developing and ready-to-start markets are considered. Starting from these premises and considering the forthcoming choices to be accomplished in order to put in competition in the Italian electric industry, as stated by the Decree n. 79 of March, 16, 1999 in reception of the European Directive n. 92/96, the paper presents a framework of the market architectures, as well as an electric auction-based market taxonomy [it

  13. Efficient Market Hypothesis: Some Evidences from Emerging European Forex Markets

    OpenAIRE

    Anoop S Kumar; Bandi Kamaiah

    2014-01-01

    This study attempts to analyze the presence of weak form efficiency in the forex markets of a set of select European emerging markets namely Bulgaria, Croatia, Czech Republic, Hungary Poland, Romania, Russia, Slovakia and Slovenia using the monthly NEER data ranging from jan-1994 to Dec-2013. We employ a two step comprehensive methodology where in the first place we test for weak form efficiency using a family of individual and joint variance ratio tests. The results show that while the marke...

  14. Deodorants on the European market

    DEFF Research Database (Denmark)

    Rastogi, Suresh Chandra; Johansen, J D; Frosch, Peter J

    1998-01-01

    allergens from the fragrance mix and 14 other commonly used fragrance materials. The deodorants were purchased at retail outlets in 5 European countries. It was found that in general, fragrance mix ingredients were more frequently present in vapo- and aerosol sprays than in roll-on products. The levels...... of the fragrance mix substances ranged from 0.0001-0.2355%. The products investigated contained cinnamic aldehyde and isoeugenol less frequently (17% and 29% respectively), and eugenol and geraniol most frequently (57% and 76% respectively). The 14 other fragrance materials were found in 40-97% of the deodorants...... could be drawn about the other fragrance mix constituents, as threshold levels in sensitized individuals have not been investigated. Furthermore, all of the fragrance materials investigated were frequently found in deodorants and, apart from the fragrance mix ingredients, the extent of problems...

  15. Report on progress in creating the internal gas and electricity market. Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions

    International Nuclear Information System (INIS)

    2010-01-01

    In late 2008 and 2009, the world was hit by the financial and economic crisis. This had a direct impact on the demand for energy, causing unpredicted falls in the price of oil on the international markets. This, in turn, impacted on gas and electricity prices. A dispute between two companies outside the EU (Gazprom of Russia and Naftogaz of Ukraine) led to an unprecedented crisis in the EU's gas supply. Between 6 and 20 January 2009, gas flows from Russia to the EU via Ukraine were interrupted, affecting several Member States. 2009 was also an important year because the third internal energy market package was adopted on 13 July 2009. The third package strengthens the regulatory framework that is needed in order to make market opening fully effective, in the interest of achieving the lowest possible energy prices, better energy security and sustainability. This report discusses how the developments described above have impacted on the EU electricity and gas markets over the past year and how they are likely to affect market developments in the future.

  16. The North American electricity markets

    International Nuclear Information System (INIS)

    Harvie, I.

    1999-01-01

    The wide ranging changes that will drive the evolution of the North American electricity industry in the future are discussed. Deregulation and the advent of competition in both the United States and Canada are the principal forces that will change the shape of the electricity market, bringing new players and new forms of doing business into the marketplace. A review of the current state of the business shows that especially in the United States where deregulation began earlier than in Canada, independent generators already constitute a multi-billion dollar industry. Non-utility generation capacity is about seven per cent of total U.S. capacity and accounts for about 10 per cent of total U. S. electricity supply, including imports. Examples from other industries clearly show that restructuring and the breakup of vertically integrated industries could be accomplished much faster than anticipated, that a decrease in prices followed rapidly as products became more like commodities, and that decreasing prices fostered product differentiation and competition. Major legislation affecting the electric power industry in the U.S. and Canada (U.S. National Energy Policy Act 1992, Alberta Electric Utilities Act 1995, Ontario Energy Competition Act 1998) decreeing open access transmission, unbundling of generation, transmission and ancillary services, and promoting competition, and the impacts of these legislative actions are also reviewed. The most visible impact is the explosion that can be seen in power marketing and energy trading on a scale unimaginable only a few short years ago, where the total volume of trade may be worth multiples of the value of the underlying commodity. At the same time, there is concern about the reliability of the system, and thus making it imperative to find new ways to manage reliability. Various suggestions are made as to how increased reliability of supply could be achieved by better management, new standards and better enforcement of

  17. Global integration of European tuna markets

    Science.gov (United States)

    Jiménez-Toribio, Ramòn; Guillotreau, Patrice; Mongruel, Rémi

    2010-07-01

    This paper evaluates the degree of integration between the world market and the major European marketplaces of frozen and canned tuna through both vertical and horizontal price relationships. Spatial linkages are investigated horizontally in order to estimate the connection between the European market and the world-wide market on the primary stage of the value chain. One of the key results is the high level of market integration at the ex-vessel stage, and the price leadership of yellowfin tuna over skipjack tuna. The same approach is applied at the ex-factory level. Basically, the European market for final goods appears to be segmented between the Northern countries consuming low-priced canned skipjack tuna imported from Asia (mainly Thailand) and the Southern countries (Italy, Spain) processing and importing yellowfin-based products sold at higher prices. France appears to be an intermediate market where both products are consumed. The former market is found to be well integrated to the world market and can be considered to be competitive, but there is a suspicion of market power being exercised on the latter. Price relationships are therefore tested vertically between the price of frozen tuna paid by the canneries and the price of canned fish in both Italy and France. The two species show an opposite pattern in prices transmission along the value chain: price changes along the chain are far better transmitted for the “global” skipjack tuna than for the more “European” yellowfin tuna. The results are discussed, along with their implications for the fishing industry.

  18. Effects of a Liberalized European Gas Market

    International Nuclear Information System (INIS)

    Austvik, Ole Gunnar

    2003-01-01

    After World War II a position that for some time was called ''left-liberal'' tried to reconcile the values of individual freedom with social justice and a more egalitarian distribution of income. According to this perception, the government should let markets work if they satisfy social goals. However, if markets are non-competitive, either by nature or cartelization, often a public authority or a regulator must intervene in order to secure social goals, such as the provision of important goods and services, to avoid excessive pricing practices etc. If the results from competitive markets achieved either by actual competition or by public regulations bring about unacceptable injustice or inequality between persons, groups or regions, governments should intervene to correct this by redistributing income through taxes and subsidies, partnership schemes with the industry, and so on. For the functioning of natural gas markets, the most crucial element is the cost of, and access to, transportation. Cost of gas transportation is often characterized by strong elements of scale and scope economies, making transporting firms natural monopolies in the markets in which they operate. In Europe, many public utilities operating as natural monopolies were nationalized in the aftermath of World War II. Being monopolists by nature (but sometimes only by law) they were considered bottlenecks in the development of each nation's competitiveness. Probably the most frequently used argument explaining these firms' inefficient use of resources, has been the lack of competition. Liberalization of a market represents a departure from the ''one management'' approach. However, the particular aspect of by-nature non-competitive markets, such as major parts of the European gas market, is that the goals of competition cannot be achieved only by removal of trade barriers. If the most efficient operation of a market is done by one, or only a few, firms, these must be made to behave in a way that

  19. The European market of renewable energies

    International Nuclear Information System (INIS)

    Anon.

    2011-09-01

    This market study on renewable energies presents: 1 - the different renewable energy industries for power generation: the field of renewable energies (hydropower, wind power, solar energy, geothermal energy and biomass power plants) and their common points, their characteristics, advantages and constraints; 2 - the political and regulatory context with its ambitious goals: main steps of worldwide negotiations, Europe and the management of CO 2 emissions, stiffening of the environmental regulation, the energy/climate package and the efforts to be borne by the different member states; 3 - Economy of the sector and the necessary public support: investment and production costs by industry, wholesale prices and competitiveness of the different power generation means, government's incentives for projects profitability; 4 - dynamics of the European market of renewable energies: energy-mix and evolution of the renewable energies contribution in the world and in the European Union, key-figures by country and by industry (installed capacity, production, turnover, employment); 5 - medium-term development perspectives: 2020 prospect scenarios, evolution of the energy mix, perspectives of development for each industry; 6 - the strengths in presence in the domain of facilities: main manufacturers, market shares, innovations, vertical integration, external growth; 7 - the strengths in presence in the domain of power facilities operation: main European operators, position and ranking, installed capacities, projects portfolio; 8 - medium-term perspectives of reconfiguration: best-positioned operators in a developing market, future of European manufacturers with respect to Asian ones, inevitable concentration in the operation sector. (J.S.)

  20. Directive 96/ EC of the European Parliament and the Council of the European Union, as of 25 July 1996, announcing their common regulations for the EU internal electricity market

    International Nuclear Information System (INIS)

    1996-01-01

    The supplement to this issue of the journal, RdE 5/96, presents the German version of the full authentic text of the EU Directive 96/EC. This Directive lays down the regulations applicable within the EU, relating to electric power generation, transmission, and distribution in the EU internal electricity sector, as well as access to the internal market, criteria and procedures for bids and tenders, granting of license, and network operation. The text is also accessible under the following www address: http://www.heymanns.com. (orig./CB) [de

  1. Dynamics of electricity market correlations

    Science.gov (United States)

    Alvarez-Ramirez, J.; Escarela-Perez, R.; Espinosa-Perez, G.; Urrea, R.

    2009-06-01

    Electricity market participants rely on demand and price forecasts to decide their bidding strategies, allocate assets, negotiate bilateral contracts, hedge risks, and plan facility investments. However, forecasting is hampered by the non-linear and stochastic nature of price time series. Diverse modeling strategies, from neural networks to traditional transfer functions, have been explored. These approaches are based on the assumption that price series contain correlations that can be exploited for model-based prediction purposes. While many works have been devoted to the demand and price modeling, a limited number of reports on the nature and dynamics of electricity market correlations are available. This paper uses detrended fluctuation analysis to study correlations in the demand and price time series and takes the Australian market as a case study. The results show the existence of correlations in both demand and prices over three orders of magnitude in time ranging from hours to months. However, the Hurst exponent is not constant over time, and its time evolution was computed over a subsample moving window of 250 observations. The computations, also made for two Canadian markets, show that the correlations present important fluctuations over a seasonal one-year cycle. Interestingly, non-linearities (measured in terms of a multifractality index) and reduced price predictability are found for the June-July periods, while the converse behavior is displayed during the December-January period. In terms of forecasting models, our results suggest that non-linear recursive models should be considered for accurate day-ahead price estimation. On the other hand, linear models seem to suffice for demand forecasting purposes.

  2. A bargaining model of regulated markets' integration with an application to electricity supply market

    International Nuclear Information System (INIS)

    Wei Jingyuan; Smeers, Y.; Canon, E.

    1995-01-01

    An integrated market organized by regulated electric utilities is modelled. It is assumed that, given a price vector for the exchange of electricity between each pair of neighboring utilities, utilities independently maximize their own domestic social welfare subject to the zero profit constraint. An equilibrium price vector for exchanges among utilities is defined as the one which clears the exchanges for all pair of business partners. A single piecewise linear model is formulated for computing market equilibria. The model is used to simulate the electricity supply market organized by 11 western European countries

  3. The international electricity market infrastructure-insight from the nordic electricity market

    DEFF Research Database (Denmark)

    Ma, Zheng; Prljaca, Zerina; Jørgensen, Bo Nørregaard

    2016-01-01

    This paper aims to provide an overview of an international electricity market for the emerging market players to understand and manipulate their roles and relationships in the market by analyzing the former, present, and future Nordic electricity market. The emerging market players...... and their relationships are also discussed in the paper. This paper outlines several suggestions for the future Nordic electricity market development. Furthermore, this paper provides a recommendation for countries interested in participating and developing the cross-national electricity markets with the discussion...... of the historical development of the Nordic electricity market....

  4. What will become of the european nuclear power plant market

    International Nuclear Information System (INIS)

    Goulden, O.A.

    1976-01-01

    In a forecast of the development of the future market for power plants and components in Europe a British consultant comes to the conclusion that the nuclear power programs established in various countries in 1974 are oversized in the light of the reduction in the increment of electricity consumption, which is expected to continue, if they are implemented in addition to existing and planned conventional thermal power stations, and that these programs are too costly if they are intended more or less only to substitute for other sources of energy. A streamlining process, which is deemed to be inescapable, is bound to result in a major cutback of the nuclear power station market in Europe and in a hard fight for survival among the power plant manufacturers now in the market. In the author's opinion, the only way out would be a uniform European electricity generation, transmission and distribution system with all the rationalization effects this would entail. (orig.) [de

  5. Modeling spot markets for electricity and pricing electricity derivatives

    Science.gov (United States)

    Ning, Yumei

    Spot prices for electricity have been very volatile with dramatic price spikes occurring in restructured market. The task of forecasting electricity prices and managing price risk presents a new challenge for market players. The objectives of this dissertation are: (1) to develop a stochastic model of price behavior and predict price spikes; (2) to examine the effect of weather forecasts on forecasted prices; (3) to price electricity options and value generation capacity. The volatile behavior of prices can be represented by a stochastic regime-switching model. In the model, the means of the high-price and low-price regimes and the probabilities of switching from one regime to the other are specified as functions of daily peak load. The probability of switching to the high-price regime is positively related to load, but is still not high enough at the highest loads to predict price spikes accurately. An application of this model shows how the structure of the Pennsylvania-New Jersey-Maryland market changed when market-based offers were allowed, resulting in higher price spikes. An ARIMA model including temperature, seasonal, and weekly effects is estimated to forecast daily peak load. Forecasts of load under different assumptions about weather patterns are used to predict changes of price behavior given the regime-switching model of prices. Results show that the range of temperature forecasts from a normal summer to an extremely warm summer cause relatively small increases in temperature (+1.5%) and load (+3.0%). In contrast, the increases in prices are large (+20%). The conclusion is that the seasonal outlook forecasts provided by NOAA are potentially valuable for predicting prices in electricity markets. The traditional option models, based on Geometric Brownian Motion are not appropriate for electricity prices. An option model using the regime-switching framework is developed to value a European call option. The model includes volatility risk and allows changes

  6. Switzerland - its position within a liberalised European power market

    International Nuclear Information System (INIS)

    Kiener, E.

    2005-01-01

    This article takes a look at the situation in Switzerland shortly before parliamentary discussions on the liberalisation of Switzerland's electricity market. In particular the interconnection of Switzerland's electricity supply system with that of the rest of Europe is discussed. The power black-out that occurred in Italy in September 2003 is looked at. In particular, its relevance to power supply infrastructures is discussed and the fast-changing international configurations that are resulting from the liberalisation of electricity markets are looked at. Questions of international power transfer capacities and their allocation are looked at in detail in the light of the occurrences in 2003. The lessons that must be learned from the blackout are discussed and Switzerland's geographical position as an important hub of the European power transfer system are considered

  7. Carbon pricing, nuclear power and electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Cameron, R.; Keppler, J. H. [OECD Nuclear Energy Agency, 12, boulevard des Iles, 92130 Issy-les-Moulineaux (France)

    2012-07-01

    In 2010, the NEA in conjunction with the International Energy Agency produced an analysis of the Projected Costs of Electricity for almost 200 power plants, covering nuclear, fossil fuel and renewable electricity generation. That analysis used lifetime costs to consider the merits of each technology. However, the lifetime cost analysis is less applicable in liberalised markets and does not look specifically at the viewpoint of the private investor. A follow-up NEA assessment of the competitiveness of nuclear energy against coal- and gas-fired generation under carbon pricing has considered just this question. The economic competition in electricity markets is today between nuclear energy and gas-fired power generation, with coal-fired power generation not being competitive as soon as even modest carbon pricing is introduced. Whether nuclear energy or natural gas comes out ahead in their competition depends on a number of assumptions, which, while all entirely reasonable, yield very different outcomes. The analysis in this study has been developed on the basis of daily data from European power markets over the last five-year period. Three different methodologies, a Profit Analysis looking at historic returns over the past five years, an Investment Analysis projecting the conditions of the past five years over the lifetime of plants and a Carbon Tax Analysis (differentiating the Investment Analysis for different carbon prices) look at the issue of competitiveness from different angles. They show that the competitiveness of nuclear energy depends on a number of variables which in different configurations determine whether electricity produced from nuclear power or from CCGTs generates higher profits for its investors. These are overnight costs, financing costs, gas prices, carbon prices, profit margins (or mark-ups), the amount of coal with carbon capture and electricity prices. This paper will present the outcomes of the analysis in the context of a liberalised

  8. Carbon pricing, nuclear power and electricity markets

    International Nuclear Information System (INIS)

    Cameron, R.; Keppler, J. H.

    2012-01-01

    In 2010, the NEA in conjunction with the International Energy Agency produced an analysis of the Projected Costs of Electricity for almost 200 power plants, covering nuclear, fossil fuel and renewable electricity generation. That analysis used lifetime costs to consider the merits of each technology. However, the lifetime cost analysis is less applicable in liberalised markets and does not look specifically at the viewpoint of the private investor. A follow-up NEA assessment of the competitiveness of nuclear energy against coal- and gas-fired generation under carbon pricing has considered just this question. The economic competition in electricity markets is today between nuclear energy and gas-fired power generation, with coal-fired power generation not being competitive as soon as even modest carbon pricing is introduced. Whether nuclear energy or natural gas comes out ahead in their competition depends on a number of assumptions, which, while all entirely reasonable, yield very different outcomes. The analysis in this study has been developed on the basis of daily data from European power markets over the last five-year period. Three different methodologies, a Profit Analysis looking at historic returns over the past five years, an Investment Analysis projecting the conditions of the past five years over the lifetime of plants and a Carbon Tax Analysis (differentiating the Investment Analysis for different carbon prices) look at the issue of competitiveness from different angles. They show that the competitiveness of nuclear energy depends on a number of variables which in different configurations determine whether electricity produced from nuclear power or from CCGTs generates higher profits for its investors. These are overnight costs, financing costs, gas prices, carbon prices, profit margins (or mark-ups), the amount of coal with carbon capture and electricity prices. This paper will present the outcomes of the analysis in the context of a liberalised

  9. Liberalization of the Swiss electricity and gas market

    International Nuclear Information System (INIS)

    Cattin, J.

    1999-01-01

    The Swiss government intends to liberalize the electricity and gas market. Competition is to be introduced in the electricity sector first because the European Union is also giving priority to this industry. Moreover, electricity prices in Switzerland are too high. The principle of market liberalization is not contested, but the route to be taken to achieve this goal is a matter of heated controversy. Opinions on the power line network, non-amortizable investments, hydropower plants or the pace of market liberalization still differ too widely. Liberalization of the gas market is also in preparation, but the problems here are less complex. This is because competition already exists on the heating market. In addition, domestic gas prices are not much higher than those charged in other countries. (author)

  10. Projected developments in the US and European LWR fabrication market

    International Nuclear Information System (INIS)

    Anderson, C.K.; Varley, G.

    1996-01-01

    There are several important factors influencing change in the fuel fabrication supply industry in Western Europe today. The most important is the changing supply relationships resulting from lower costs in the USA. With US fabrication prices substantially lower than in Western Europe, a situation which is sustainable based on production costs, a major force for change prevails which will have significant implications for the commercial development of both markets over the next decade. The extent to which supply from the USA will drive the Western Europe market will depend, to some extent, on three other factors: the new US-Euratom agreement on nuclear trade; electricity market deregulation in the European Union (EU); near term MOX fuel fabrication capacity. The main purpose of this paper is to discuss the current situation in the USA and Europe, and the manner in which this will lead to changing fuel fabrication supply dynamics in both markets. (author)

  11. Electricity market liberalisation in Europe. Who's got the power?

    International Nuclear Information System (INIS)

    Lise, W.; Linderhof, V.

    2004-10-01

    The European electricity market is in the middle of a transformation from monopolistic state-owned production and distribution to privatised markets, with various competing firms. The speed of privatisation differs widely across Europe from full trade of electricity at the wholesale market in Scandinavian countries, to partial trade on the wholesale market in The Netherlands and Germany, and no trade on the wholesale market in France and Belgium. Hence, the market and its rules are no longer fixed, and the electricity market is in the middle of a dynamic and complex process of change. This report discusses whether the liberalisation process can result in more efficient electricity production in Europe. In addition, the environmental impacts of the liberalisation process are studied. Efficiency of electricity production is analysed with a static computational game theoretic model, which compares strategic options of and interactions among energy suppliers. This model is calibrated to the European electricity market in eight countries, namely Belgium, Denmark, Finland, France, Germany, The Netherlands, Norway, and Sweden. In a liberalised market, large firms are most likely to behave strategically and exercise market power in order to maximise profits. As a result, wholesale prices might increase, partially or fully off-setting the purpose of liberalisation, namely to decrease wholesale prices. Also, a potential market leader may emerge, who by anticipating on the reaction of followers, could acquire higher profits by increasing production and market share. Finally, firms can also acquire passive ownership in other firms. Passive cross-border ownership can increase a firm's market power and profits, resulting in even higher wholesale prices. The environmental impacts of different scenarios of producer behaviour are ambiguous. Under full competition, greenhouse gas emissions decline compared to the initial situation, while acidification and smog formation increase. In

  12. Flight to Safety from European Stock Markets

    DEFF Research Database (Denmark)

    Aslanidis, Nektarios; Christiansen, Charlotte

    -return trade-off is positive and during flight-to-safety episodes it is negative. The effects of flight-to-safety episodes on the risk-return trade-off are qualitatively similar for own country flight-to-safety episodes, for flight from own country stock market to the US bond market, and for US flight......This paper investigates flight-to-safety from stocks to bonds in seven European markets. We use quantile regressions to identify flight-to-safety episodes. The simple risk-return trade-off on the stock markets is negative which is caused by flight-to-safety episodes: During normal periods, the risk...

  13. Liquidity in the Dutch wholesale electricity market

    International Nuclear Information System (INIS)

    Newbery, D.; Von der Fehr, N.H.; Van Damme, E.

    2003-05-01

    Industry concerns over perceived reductions in the liquidity of the Dutch wholesale electricity market led the DTe to ask the Market Surveillance Committee (MSC) to examine recent developments. This report starts with a generic examination of wholesale power markets and liquidity and its measurement. An overview of the Dutch wholesale electricity market and its constituent segments follows together with a summary of events and opinions connected to liquidity that have been reported in the trade press. Sources of information on market liquidity are then reviewed. Participation in the market is analysed before examining each market segment and this analysis and the earlier sections are then drawn together in conclusions and recommendations

  14. The beef market in the European Union

    DEFF Research Database (Denmark)

    Nielsen, Niels Asger; Jeppesen, Lisbeth Fruensgaard

    characteristics determining the consumers' value perception of a piece of meat appear to be fat, tenderness, taste and freshness. 7. The primary production of beef is fragmented in most European countries and the average number of cattle at a European cattle farm is only slowly rising. Two thirds of the cows...... of cattle going through markets is declining. 10. Product quality has been very difficult to control in the beef sector. The cattle supplied for slaughtering is of a very varying quality with regard to important consumer-oriented quality characteristics like tenderness and taste, and the lack...

  15. Electric vehicles in imperfect electricity markets: The case of Germany

    International Nuclear Information System (INIS)

    Schill, Wolf-Peter

    2011-01-01

    We use a game-theoretic model to analyze the impacts of a hypothetical fleet of plug-in electric vehicles on the imperfectly competitive German electricity market. Electric vehicles bring both additional demand and additional storage capacity to the market. We determine the effects on prices, welfare, and electricity generation for various cases with different players in charge of vehicle operations. Vehicle loading increases generator profits, but decreases consumer surplus in the power market. If excess vehicle batteries can be used for storage, welfare results are reversed: generating firms suffer from the price-smoothing effect of additional storage, whereas power consumers benefit despite increasing overall demand. Strategic players tend to under-utilize the storage capacity of the vehicle fleet, which may have negative welfare implications. In contrast, we find a market power-mitigating effect of electric vehicle recharging on oligopolistic generators. Overall, electric vehicles are unlikely to be a relevant source of market power in Germany in the foreseeable future. - Highlights: → We study the effect of electric vehicles on an imperfectly competitive electricity market. → We apply a game-theoretic model to the German market. → There is a market power-mitigating effect of vehicle loading on oligopolistic generating firms. → Consumers benefit from electric vehicles if excess battery capacity can be used for grid storage. → Electric vehicles are unlikely to be a source of market power in Germany in the near future.

  16. Electric power market regulations in UK

    International Nuclear Information System (INIS)

    Federico, G.; Napolano, L.

    2000-01-01

    The wholesale electricity market in UK is being radically reformed, with the abolition of a centralised market (the Pool) and the introduction of a system based around bilateral trading and real-time balancing (NETA), with the aim of increasing competition in the sector. This article analyses the English experience to draw some implications on the relationship between market design, market structure and market power, and to provide some insights for the design of the future Italian market [it

  17. Using forward markets to improve electricity market design

    International Nuclear Information System (INIS)

    Ausubel, Lawrence M.; Cramton, Peter

    2010-01-01

    Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and quantities for one to three years. In the long term, a forward reliability market assures adequate resources are available when they are needed most. The forward markets reduce risk for both sides of the market, since they reduce the quantity of energy that trades at the more volatile spot price. Spot market power is mitigated by putting suppliers and demanders in a more balanced position at the time of the spot market. The markets also reduce transaction costs and improve liquidity and transparency. Recent innovations to the Colombia market illustrate the basic elements of the forward markets and their beneficial role. (author)

  18. Using forward markets to improve electricity market design

    Energy Technology Data Exchange (ETDEWEB)

    Ausubel, Lawrence M.; Cramton, Peter [University of Maryland, College Park, MD 20742 (United States)

    2010-12-15

    Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and quantities for one to three years. In the long term, a forward reliability market assures adequate resources are available when they are needed most. The forward markets reduce risk for both sides of the market, since they reduce the quantity of energy that trades at the more volatile spot price. Spot market power is mitigated by putting suppliers and demanders in a more balanced position at the time of the spot market. The markets also reduce transaction costs and improve liquidity and transparency. Recent innovations to the Colombia market illustrate the basic elements of the forward markets and their beneficial role. (author)

  19. Efficient Market Hypothesis: Some Evidences from Emerging European Forex Markets

    Directory of Open Access Journals (Sweden)

    Anoop S Kumar

    2014-06-01

    Full Text Available This study attempts to analyze the presence of weak form efficiency in the forex markets of a set of select European emerging markets namely Bulgaria, Croatia, Czech Republic, Hungary Poland, Romania, Russia, Slovakia and Slovenia using the monthly NEER data ranging from jan-1994 to Dec-2013. We employ a two step comprehensive methodology where in the first place we test for weak form efficiency using a family of individual and joint variance ratio tests. The results show that while the markets of Croatia, Czech Republic and Bulgaria may be weak form efficient at a shorter lag, the other six markets are not informationally efficient. In the next stage, we estimate a measure of relative efficiency to show the extent to which a market is weak-form inefficient. From the results, it is found that the forex markets of Croatia, Czech Republic and Bulgaria are least weak form inefficient compared to others. The findings of the study are of relevance as it shows that even after roughly two decades of free market economic policies, majority of the forex markets in the area remains informationally inefficient.

  20. Optimal Charging of Electric Vehicles with Trading on the Intraday Electricity Market

    Directory of Open Access Journals (Sweden)

    Ilham Naharudinsyah

    2018-06-01

    Full Text Available Trading on the energy market is a possible way to reduce the electricity costs of charging electric vehicles at public charging stations. In many European countries, it is possible to trade electricity until shortly before the period of delivery on so called intraday electricity markets. In the present work, the potential for reducing the electricity costs by trading on the intraday market is investigated using the example of the German market. Based on simulations, the authors reveal that by optimizing the charging schedule together with the trading on the intraday electricity market, the costs can be reduced by around 8% compared to purchasing all the required energy from the energy supplier. By allowing the charging station operator to resell the energy to the intraday electricity market, an additional cost reduction of around 1% can be achieved. Besides the potential cost savings, the impacts of the trading unit and of the lead time of the intraday electricity market on the costs are investigated. The authors reveal that the achievable electricity costs can be strongly affected by the lead time, while the trading unit has only a minor effect on the costs.

  1. Market power analysis for the Iranian electricity market

    International Nuclear Information System (INIS)

    Asgari, Mohammad Hossein; Monsef, Hassan

    2010-01-01

    The market power problem in Iranian electricity market is addressed in this study. This paper by using various structural indices of market power and reviewing market results analyzes the intensity of competition in Iran's electricity market and examines whether this market is functioning at an appropriate level of efficiency. In this article the most well-known indices of market power are calculated in two approaches for two different scenarios (current situation and future outlook of generation sector's ownership in Iran's power industry). Comparing the results of these scenarios promises more competitive market for the second scenario. Calculating Residual Supply Index for Iran's power market shows despite admissible values of concentration ratios, due to supply scarcity during periods when the demand is close to the total available capacity, some suppliers can exercise market power even with a relatively small market share. The most important price and load indices like weighted average prices and load/price duration curves of Iranian electricity market during March 2007-March 2008 are also analyzed in this paper. These results imply the existence of economic withholding. The main limiting factors of competition and significant implemented countermeasures for market power mitigation in Iran's electricity market are also mentioned.

  2. Electricity market design and risk management

    International Nuclear Information System (INIS)

    Boschi, Federico; Cervigni, Guido

    2005-01-01

    We show that each wholesale electricity market design trades-off between efficiency and liquidity. Efficiency requires that the product traded in the wholesale market closely reflect the physical features of electricity. Liquidity requires standardization of the products that ore traded on the wholesale market. We stress that Iiquidity comes at a cost since an excessive degree of standardization may lead to significant inefficiencies and forge wealth transfers among market participants [it

  3. Electricity market design for the future

    OpenAIRE

    robinson, david; Keay, Malcolm

    2017-01-01

    This paper explains why current electricity markets are not fit for purpose and propose a new market design. Electricity markets operating today were designed for the technical and economic conditions of the 1990's. These conditions have changed substantially, especially with increased penetration of intermittent renewables and the growing potential for distributed energy resources and consumer involvement. Today's markets are incompatible with these trends. They do not provide h...

  4. Market power in electricity markets: Beyond concentration measures

    International Nuclear Information System (INIS)

    Borenstein, S.; Bushnell, J.; Knittel, C.R.

    1999-01-01

    The wave of electricity market restructuring both within the US and abroad has brought the issue of horizontal market power to the forefront of energy policy. Traditionally, estimation and prediction of market power has relied heavily on concentration measures. In this paper, the authors discuss the weaknesses of concentration measures as a viable measure of market power in the electricity industry, and they propose an alternative method based on market simulations that take advantage of existing plant level data. The authors discuss results from previous studies they have performed, and present new results that allow for the detection of threshold demand levels where market power is likely to be a problem. In addition, the authors analyze the impact of that recent divestitures in the California electricity market will have on estimated market power. They close with a discussion of the policy implications of the results

  5. Power exchange game in the electricity market

    International Nuclear Information System (INIS)

    Pyykko, S.; Partanen, J.; Viljainen, S.; Lassila, J.; Honkapuro, S.; Tahvanainen, K.

    2006-01-01

    Since it is not economically reasonable to build parallel electricity networks, in Finland, Sweden, Norway and Denmark, electricity distribution is protected by monopoly. However, electricity production and selling have been opened up to competition by connecting the transmission networks of these countries together, and it is possible to produce electricity where it is cheapest. A common electricity power market, called Nord Pool, has been created where electricity can be bought, sold or used as an exchange product. In order to help students understand the operation of electricity markets and the use of different electricity exchange products, the Department of Electrical Engineering at Lappeenranta University developed a scheme in which the theory can be used in practice. In the scheme, students are given the responsibility to manage the electricity markets of power companies in order analyze, plan and make decisions, which are skills required on the open power markets. The paper provided an introduction to the electricity markets in Nordic countries and discussed Nord Pool and its products. Information about education at the Department of Electrical Engineering at Lappeenranta University of Technology was also presented. The paper also provided details of the power exchange scheme on the electricity markets. 6 refs., 17 figs

  6. New Brunswick electricity market rules : summary

    International Nuclear Information System (INIS)

    2004-02-01

    The electricity market rules for New Brunswick were reviewed with particular reference to two broad classifications. The first classification is based on the roles and responsibilities of the system operator (SO) in facilitating the Bilateral Contract market, as well as the role of market participants in participating in the Bilateral Contract market. The second classification is based on the roles and responsibilities of each of the SO, market participants and transmitters in maintaining the reliability of the integrated electricity system and ensuring a secure supply of electricity for consumers in New Brunswick. The market rules consist of 10 chapters entitled: (1) introduction to the market rules and administrative rules of general application, (2) market participation and the use of the SO-controlled grid, (3) market administration, (4) technical and connection requirements, testing and commissioning, (5) system reliability, (6) operational requirements, (7) settlement, (8) connection of new or modified facilities, (9) transmission system planning, investment and operation, and (10) definitions and interpretation

  7. BUCHAREST HOTEL MARKET IN THE EUROPEAN CONTEXT

    OpenAIRE

    Ioana Cristiana PATRICHI

    2014-01-01

    The European hospitality industry currently sees an increase in all specific indicators, a fact that shows, on one hand, the ability of this sector to overcome the economic turbulences of recent years, but also the real perspectives for future growth. Today’s hotel industry can no longer rely on the traditional growth methods, and needs to prepare for the major confrontation with the next-generation technological developments that generate modern marketing channels but, by default, incur sign...

  8. Corporate strategies for European gas markets

    International Nuclear Information System (INIS)

    Chevalier, J.M.

    1992-01-01

    In January 1992, the Commission of the European Economic Community issued a proposal for accelerating the process of building up a single market for natural gas. After the first step, already taken, to introduce price transparency, the Commission is willing to introduce progressively Third Party Access (T.P.A.) and the freedom of establishment in all segments of the natural gas industry: L.N.G. terminals, storage facilities, transmission lines and public distribution. 1 tab

  9. Retail competition in electricity markets

    International Nuclear Information System (INIS)

    Defeuilley, Christophe

    2009-01-01

    The introduction of competition into retail electricity supply gave rise to great expectations. However, to date, its performance has proven less than stellar, owing primarily to the theoretical concepts underpinning this reform, which draw heavily on the Austrian school. Neither consumers' decision processes nor this sector's technical paradigm were adequately accounted for, leading to an uncorrect estimation of the expected impact of opening to competition. Short- and medium-term prospects for the evolution of retail markets must be reconsidered from the perspective of greater stability: not a generalization of competition, but rather a persistent segmentation between active and inactive clients; not a large and rapid diffusion of radical innovations in commercialisation, with the potential for undermining the incumbents' positions

  10. Retail competition in electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Defeuilley, Christophe [LARSEN and EDF R and D, Fontenay aux Roses (France)

    2009-02-15

    The introduction of competition into retail electricity supply gave rise to great expectations. However, to date, its performance has proven less than stellar, owing primarily to the theoretical concepts underpinning this reform, which draw heavily on the Austrian school. Neither consumers' decision processes nor this sector's technical paradigm were adequately accounted for, leading to an uncorrect estimation of the expected impact of opening to competition. Short- and medium-term prospects for the evolution of retail markets must be reconsidered from the perspective of greater stability: not a generalization of competition, but rather a persistent segmentation between active and inactive clients; not a large and rapid diffusion of radical innovations in commercialisation, with the potential for undermining the incumbents' positions. (author)

  11. Electricity in european economies in transition

    International Nuclear Information System (INIS)

    1994-01-01

    This study examines the electricity supply industries in the European members of the former Unified Power System/interconnected Power Systems (UPS/IPS): Belarus, Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Moldova, Poland, Romania, Russia, Slovakia and Ukraine. It explores the transformation process in the electricity sector over the past five years, its relationship to other changes in the region and possible future trends. Subjects covered include structure and regulation, demand, primary fuel availability, generating capacity, financing, tariffs, interconnections and trade

  12. The electric power market in Spain characteristics, evolution and results from January 1998 to February 2009

    International Nuclear Information System (INIS)

    Gonzalez Fernandez-Castaneda, J. J.

    2009-01-01

    The article presents the organized spanish Electricity production market. The main characteristics of the Day-ahead and Intra day spo to markets, and the evolution and results achieved along the more than 11 years of operations are presented. The relations between the Spanish market and the rest of the European electricity markets, with especial emphasis on those markets interconnected with the Spanish system, are also described. (Author)

  13. Electricity prices and generator behaviour in gross pool electricity markets

    International Nuclear Information System (INIS)

    O'Mahoney, Amy; Denny, Eleanor

    2013-01-01

    Electricity market liberalisation has become common practice internationally. The justification for this process has been to enhance competition in a market traditionally characterised by statutory monopolies in an attempt to reduce costs to end-users. This paper endeavours to see whether a pool market achieves this goal of increasing competition and reducing electricity prices. Here the electricity market is set up as a sealed bid second price auction. Theory predicts that such markets should result with firms bidding their marginal cost, thereby resulting in an efficient outcome and lower costs to consumers. The Irish electricity system with a gross pool market experiences among the highest electricity prices in Europe. Thus, we analyse the Irish pool system econometrically in order to test if the high electricity prices seen there are due to participants bidding outside of market rules or out of line with theory. Overall we do not find any evidence that the interaction between generator and the pool in the Irish electricity market is not efficient. Thus, the pool element of the market structure does not explain the high electricity prices experienced in Ireland. - Highlights: • We consider whether a gross pool achieves competitive behaviour. • We analyse the Irish pool system econometrically. • Results indicate the Irish pool system appears to work efficiently. • Generators appear to be bidding appropriately

  14. BUCHAREST HOTEL MARKET IN THE EUROPEAN CONTEXT

    Directory of Open Access Journals (Sweden)

    Silvia Patricia DODU

    2014-12-01

    Full Text Available The European hospitality industry currently sees an increase in all specific indicators, a fact that shows, on one hand, the ability of this sector to overcome the economic turbulences of recent years, but also the real perspectives for future growth. Today’s hotel industry can no longer rely on the traditional growth methods, and needs to prepare for the major confrontation with the next-generation technological developments that generate modern marketing channels but, by default, incur significantly higher costs for simply „being” on the market. The Bucharest hotel market is no exception; in the recent past, it has witnessed a slight upwards trend generated by the increase of demand in the business tourism area, while also facing the challenge of integration of modern technologies in the hotel business.

  15. Price discovery in European natural gas markets

    International Nuclear Information System (INIS)

    Schultz, Emma; Swieringa, John

    2013-01-01

    We provide the first high-frequency investigation of price discovery within the physical and financial layers of Europe's natural gas markets. Testing not only looks at short-term return dynamics, but also considers each security's contribution to price equilibrium in the longer-term. Results show that UK natural gas futures traded on the Intercontinental Exchange display greater price discovery than physical trading at various hubs throughout Europe. - Highlights: • We use intraday data to gauge price discovery in European natural gas markets. • We explore short and long-term dynamics in physical and financial market layers. • Results show ICE's UK natural gas futures are the main venue for price discovery

  16. Norwegian gas on the European market

    International Nuclear Information System (INIS)

    Noreng, Oeystein

    1999-01-01

    Article. Norsk Hydro's acquisition of Saga has made the organization of Norwegian gas sales a very topical issue. Traditionally, Norwegian gas has been sold on long-term take-or-pay contracts where the sales volume is secured and the price is linked to the prices of other energy carriers, primarily oil. Norway has sold large volumes of gas to the continent and has an increasing share of the market. However, the long-term contracts place most of the price risk on the seller. Although the sale is guaranteed, earnings are low. Statoil, the largest seller of Norwegian gas, has so far earned much more by transporting the gas to the continent than by producing and selling it. The long-term take-or-pay contracts are no longer safe. In Germany, the power market is quickly opening for competition, implying falling prices and lapsing long-term contracts. A similar development is likely to occur in the gas market. From Norwegian quarters there has been little interest in establishing oneself in the gas markets on the continent, which worries the author. However, the traditional contracts will have to be renegotiated so that the prices will reflect the real competition in the market. It is argued that a sensible Norwegian strategy will be to prepare for a new world for gas, not to hold tight to historical positions. It is suggested that old plans to establish a gas transport company, Gassledd, should be revived. Such a company would be subject to the European Gas Directive and would have to admit a third party. It is likely that the Norwegian opposition to liberalization of the European gas market will one day appear poorly thought out, and that defensive considerations have overshadowed new opportunities

  17. The EU's Major Electricity and Gas Utilities since Market Liberalization

    International Nuclear Information System (INIS)

    Schulke, Ch.

    2010-01-01

    A major change has taken place in the company structure of the European electricity and gas markets. Twenty years ago, national or regional monopolies dominated the markets and there was strictly no competition between utilities. But since the liberalization of EU energy markets began in the 1990's, companies like E.ON, GDF Suez, EDF, Enel, and RWE have become European giants with activities in a large number of Member States. The advocates of market liberalization did not expect, or even intend, the emergence of a small number of large utilities that control an increasing part of the EU market. Some observers already claim that liberalization has led to an oligopoly with detrimental consequences for competition. Based on extensive background research, this book presents a fact-based analysis of the changes in the European utility sector since the 1990's. Case studies of the seven largest utilities illustrate how companies adapted their strategies to the changing market environment. The author underlines diverging choices and common trends like geographic expansion into new markets via mergers and acquisitions or diversification of business activities with the aim of using synergies between electricity and gas. (author)

  18. Importance of Electricity Transport Pricing in Liberalised Energy Markets

    International Nuclear Information System (INIS)

    Wohlgemuth, N.

    2001-01-01

    Electricity has traditionally been supplied by vertically integrated companies providing generation, transmission and distribution services. Consumers have purchased a bundled commodity - delivered electricity - and there has been no need to price the components individually. This is no longer the case in competitive and unbundled electricity markets. One of the outstanding issues in the restructuring of the electricity markets is the way in which transmission costs are translated into tariffs. The efforts to create a single European electricity market are difficult to reconcile due to different national network pricing approaches. The European Commission's draft regulation on conditions for access to the network for cross-border exchanges of electricity sets general principles for the pricing of international electricity exchanges. Nodal pricing provides incentives for an efficient use of generation and transmission assets. Experience shows that nodal pricing is workable, and its use may be expected to increase progressively. Postage stamp pricing does not generally provide adequate incentives for efficiency. However, inefficiencies may be small under certain conditions, and postage stamp pricing has the advantage of being relatively transparent and easy to implement. This paper presents an overview of objectives related to an effective design of transmission pricing approaches, of transmission pricing models and presents recent developments in Europe in this respect. Due to the great number of institutional designs of electricity market organisations, it will be difficult to design and implement a model of cross-border transmission pricing that results in a high degree of non-discriminatory international competition in electricity markets, a key objective of the Electricity Directive.(author)

  19. Norway in a liberalized European energy market

    International Nuclear Information System (INIS)

    Aune, Finn Roar; Golombek, Rolf; Rosendahl, Knut Einar; Kittelsen, Sverre A.C.

    2000-01-01

    The authors study the short-term effects of a comprehensive liberalization of the gas and power markets in Europe. The analysis is based on a statically applied general equilibrium model which gives an overall and consistent treatment of the energy markets in Europe. The model preserves the structural features in the production, transport and consumption of gas and electricity in Europe, as well as the new competitive situation arising from the liberalization. It is found that the liberalization leads to a strong fall in the price of electricity. The fall in price reflects increased competition and that idle capacity in the power sector is used to increase the production of electricity. In comparison with the real observations in 1996 (the basis year of the model) the price to the end-user is cut in half. The liberalization also leads to a fall in the price of gas. The price fall reflects in part increased competition, in part the fact that falling prise of electricity reduces the demand for gas. However, the price reduction (in per cent) is not as great as for electricity. The model is also used to study the effects in Norway of increased gas production when the gas is either used in increased gas power production in Norway, or is exported. The main conclusion is that (1) the total emission of carbon dioxide goes down in Western Europe, (2) the reduction is greatest if the gas is burned as gas power in Norway

  20. Research document no.31. Integration of European gas markets: nascent competition in a diversity of models

    International Nuclear Information System (INIS)

    Finon, D.

    2002-01-01

    The idea of building an integrated European gas market based on competitive trade, like a gas lake supplied indifferently by remote, intra-European and national sources with the help of active market places allowing arbitration and price convergence, is far from being reached. In fact it depends upon two conditions: the deregulation of each gas market at national level, and at the upper level of the market the change in contractual relations between remote gas producers and buyers, who currently make the relations rigid with long-term transactions and limit opportunities for exchange on a competitive basis. This document analyses at two levels, namely national and European, the changing shape of the European gas markets under the effects of the market reforms and their chance of integration. Firstly the former two-level European gas market, the legacy of which determines the constraints on competition development more strongly than in electricity, are characterized. Secondly, in order to characterize the potential for development of competition, the main traits of each national gas market are identified in terms of market attractiveness and market accessibility for the incumbents competitors. Thirdly, dynamics of market development towards market integration are inferred at European level from these characteristics and from the possibility for development of new forms of gas trade between foreign producers, suppliers and users at national level. (A.L.B.)

  1. Research document no.31. Integration of European gas markets: nascent competition in a diversity of models

    Energy Technology Data Exchange (ETDEWEB)

    Finon, D

    2002-07-01

    The idea of building an integrated European gas market based on competitive trade, like a gas lake supplied indifferently by remote, intra-European and national sources with the help of active market places allowing arbitration and price convergence, is far from being reached. In fact it depends upon two conditions: the deregulation of each gas market at national level, and at the upper level of the market the change in contractual relations between remote gas producers and buyers, who currently make the relations rigid with long-term transactions and limit opportunities for exchange on a competitive basis. This document analyses at two levels, namely national and European, the changing shape of the European gas markets under the effects of the market reforms and their chance of integration. Firstly the former two-level European gas market, the legacy of which determines the constraints on competition development more strongly than in electricity, are characterized. Secondly, in order to characterize the potential for development of competition, the main traits of each national gas market are identified in terms of market attractiveness and market accessibility for the incumbents competitors. Thirdly, dynamics of market development towards market integration are inferred at European level from these characteristics and from the possibility for development of new forms of gas trade between foreign producers, suppliers and users at national level. (A.L.B.)

  2. 2nd European Conference on Green Power Marketing 2002

    International Nuclear Information System (INIS)

    2002-01-01

    This report summarises the information presented at the European Conference on Green Power Marketing held in 2002 in St. Moritz, Switzerland. It takes a look at the market chances of ecologically produced electricity for use in Switzerland and for export. The opinions of experts from the areas of research, business, politics, marketing and non-governmental organisations that were presented at the meeting are summarised. International perspectives and trends are discussed and strategies and management issues are examined. Product and price policies are discussed, as are instruments for the communication of 'Green Power' issues. Also, issues concerning customer needs, renewable energy sources, climate change and sustainability are dealt with and the situation in Australia is looked at

  3. Restructuring in the Electricity Markets and Structural Transformation in Turkish Electricity Market

    Directory of Open Access Journals (Sweden)

    Hakan ÇETİNTAŞ

    2015-07-01

    Full Text Available Electricity markets are changed over from monopolistic to competitive structure. In many countries liberalization process in electricity markets began after 1980. In this study models for restructuring the electricity markets are explained with the natural monopoly and its regulation which is discussed in economic theory over many years. Then structural transformation in Turkish Electricity Market is explained within the legal arrangament framework and in liberalization process of electricity markets current state of Turkey is evaluated. In Turkey, the reform process in electricity market began with the liberalization of production and ıt is contiuned to change the design of the wholesale market. There has been significant progress for energy exchange by the establishment of EPİAŞ with the Electricity Market Law Numbered 6446 in 2013.

  4. The French wholesale electricity and natural gas markets. 2008 report

    International Nuclear Information System (INIS)

    2009-12-01

    This second report on the operation of French wholesale electricity and natural gas markets deals with CRE wholesale market surveillance activities. It follows on from the different work undertaken or announced in the first surveillance report and in the proceedings of the CRE deliberation held on the 8 January 2009. It capitalizes on the experience gained in this area since the Law of the 7 December 2006 gave the CRE market surveillance powers. It is also based on feedback from discussions and interaction with the different stakeholders, through the public consultations held by CRE in 2008 and 2009. market surveillance applies to: - electricity and gas, - bilateral transactions, trading on exchanges and cross-border transactions, - all maturities, from short-term markets to long-term contracts, - all French wholesale market counter-parties, whatever nationality they may have, - contracts for physical delivery, as well as to financial products. The Law also allows extensive surveillance of market participants' behaviour, in that the CRE can oversee not only transactions between operators but also their bids and the correspondence between the prices charged and the position of each operator. In order to address these different subjects, the electricity and gas sections of this report are divided into four main chapters dealing with the development of trading, wholesale market price trends, the fundamentals (generation, infrastructures) and, finally, the analysis of electricity transactions and the supply of alternative gas operators. Contents: A - Methodology notice, Introduction, Summary of the report; B - Section 1 - Wholesale electricity markets: The development of the main wholesale market segments, Monitoring of price formation in France in terms of fundamentals and in comparison with the main interconnected European markets, Analysis and transparency of generation, The analysis of transactions; C - Section 2 - Wholesale natural gas markets: The

  5. European Energy Markets Deregulation Observatory (EEMDO). Fourth Edition. Winter 2002/2003 data set

    International Nuclear Information System (INIS)

    2003-10-01

    In this research publication (European Energy Markets Deregulation Observatory or EEMDO) the levels of deregulation across 17 European countries are assessed. Based upon publicly available quantitative data, analysed and commented, EEMDO provides an accurate overview of European energy markets. Short-term indicators such as liquidity, market volatility, fragmentation, availability of the offer or nature of the demand as well as long-term indicators such as present and future market impacts relative to generation and physical transportation capacities have been examined to provide a clearer picture of the electricity industry across Europe. The 4th edition of EEMDO covers the winter 2002/2003 period (October 2002 - March 2003), when we saw markets entering maturity as factors other than competition start to drive prices. In this edition attention is paid to the evolution of the main indicators designed for EEMDO and for the first time, gas data are included in addition to the traditional data on the electricity market

  6. Risk management in a competitive electricity market

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

    In a competitive electricity market, it is necessary and important to develop an appropriate risk management scheme for trade with full utilization of the multi-market environment in order to maximize participants' benefits and minimize the corresponding risks. Based on the analyses to trading environments and risks in the electricity market, a layered framework of risk management for electric energy trading is proposed in this paper. Simulation results confirmed that trading among multiple markets is helpful to reduce the complete risk, and VaR provides a useful approach to judge whether the formed risk-control scheme is acceptable. (author)

  7. Optimal electricity market for wind power

    International Nuclear Information System (INIS)

    Holttinen, H.

    2005-01-01

    This paper is about electricity market operation when looking from the wind power producers' point of view. The focus in on market time horizons: how many hours there is between the closing and delivering the bids. The case is for the Nordic countries, the Nordpool electricity market and the Danish wind power production. Real data from year 2001 was used to study the benefits of a more flexible market to wind power producer. As a result of reduced regulating market costs from better hourly predictions to the market, wind power producer would gain up to 8% more if the time between market bids and delivery was shortened from the day ahead Elspot market (hourly bids by noon for 12-36 h ahead). An after sales market where surplus or deficit production could be traded 2 h before delivery could benefit the producer almost as much, gaining 7%

  8. Hong Kong's electricity market beyond 2008

    International Nuclear Information System (INIS)

    Lam, Pun Lee

    2004-01-01

    In Hong Kong, electricity is supplied by two private utilities: Hongkong Electric and CLP Power (CLP). Both are regulated under the Scheme of Control (SOC). The SOC is a formal, long-term regulatory contract of 15 years, signed between a private firm and the Hong Kong Government. Under the SOC, the two electric utilities are subject to both rate-of-return control and price control. The current scheme will expire by 2008. In this paper, we propose a gradual and cautious approach to the introduction of market reform into the electricity industry in Hong Kong. For regulated markets, the government should consider replacing the SOC with performance-based regulation for wire businesses and the non-contestable market. For competitive markets, the government should consider introducing competitive tendering for new sources in the generation market and liberalising the supply market in phases. (author)

  9. Hong Kong's electricity market beyond 2008

    International Nuclear Information System (INIS)

    Lam, P.-L.

    2004-01-01

    In Hong Kong, electricity is supplied by two private utilities: Hongkong Electric and CLP Power (CLP). Both are regulated under the Scheme of Control (SOC). The SOC is a formal, long-term regulatory contract of 15 years, signed between a private firm and the Hong Kong Government. Under the SOC, the two electric utilities are subject to both rate-of-return control and price control. The current scheme will expire by 2008. In this paper, we propose a gradual and cautious approach to the introduction of market reform into the electricity industry in Hong Kong. For regulated markets, the government should consider replacing the SOC with performance-based regulation for wire businesses and the non-contestable market. For competitive markets, the government should consider introducing competitive tendering for new sources in the generation market and liberalising the supply market in phases

  10. Technology mix configuration in liberalized electricity market

    International Nuclear Information System (INIS)

    Castro-Rodriguez, F.

    2007-01-01

    This paper analyzes the evolution of technology mix in the electricity industry when investment choices are left to private investors. In particular, possible failures and investment biases in recent liberalized electricity markets are presented. In addition, the main regulatory mechanisms used in practice and their effects are analyzed. Finally, this paper explores the government intervention in technology choices in the Spanish electricity market from the beginning of the liberalization process. While some regulatory rules have adequacy complemented the market functioning, others have distorted the electricity price, which is the reference to signal right investments. (Author) 13 refs

  11. Opening the electricity market - the Swiss Confederation's perspectives

    International Nuclear Information System (INIS)

    Steinmann, W.

    2002-01-01

    This article discusses the possibilities offered by the opening of the Swiss electricity market in the European context. The importance of appropriate legislation that would enable Switzerland to actively take part in the shaping of a Europe-wide electricity market is stressed. Measures to be considered such as those in the areas of third-party access, tariffs, security of supply and the promotion of renewable sources of energy are discussed. Questions of public service are addressed and comparisons are made to solutions that have been implemented in other areas such as post, telecommunications and the railway system. The regulations and structures suggested in Swiss proposals for legislation are discussed in detail

  12. Decoding restricted participation in sequential electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Knaut, Andreas; Paschmann, Martin

    2017-06-15

    Restricted participation in sequential markets may cause high price volatility and welfare losses. In this paper we therefore analyze the drivers of restricted participation in the German intraday auction which is a short-term electricity market with quarter-hourly products. Applying a fundamental electricity market model with 15-minute temporal resolution, we identify the lack of sub-hourly market coupling being the most relevant driver of restricted participation. We derive a proxy for price volatility and find that full market coupling may trigger quarter-hourly price volatility to decrease by a factor close to four.

  13. Does wind energy mitigate market power in deregulated electricity markets?

    International Nuclear Information System (INIS)

    Ben-Moshe, Ori; Rubin, Ofir D.

    2015-01-01

    A rich body of literature suggests that there is an inverse relationship between wind power penetration rate into the electricity market and electricity prices, but it is unclear whether these observations can be generalized. Therefore, in this paper we seek to analytically characterize market conditions that give rise to this inverse relationship. For this purpose, we expand a recently developed theoretical framework to facilitate flexibility in modeling the structure of the electric industry with respect to the degree of market concentration and diversification in the ownership of wind power capacity. The analytical results and their attendant numerical illustrations indicate that the introduction of wind energy into the market does not always depress electricity prices. Such a drop in electricity prices is likely to occur when the number of firms is large enough or the ownership of wind energy is sufficiently diversified, or most often a combination of the two. Importantly, our study defines the circumstances in which the question of which type of firm invests in wind power capacity is crucial for market prices. - Highlights: • Studies show that electricity prices decrease with increased wind power capacity. • We investigate market conditions that give rise to this inverse relationship. • Average prices for wind energy are systematically lower than average market prices. • Conventional generation firms may increase market power by investing in wind farms. • Energy policy should seek to diversify the ownership of wind power capacity

  14. Market tools: the immaterial part of the electricity transmission network

    International Nuclear Information System (INIS)

    Maillard, Dominique

    2014-01-01

    The author first evokes the activities of RTE (Reseau de transport d'electricite - the French power transmission network) to improve the performance of its technical and industrial equipment (notably equipment evolution, maintenance policies) with, for example, the installation of a fibre optic network for network control automation, the development of software for a better exploitation and steering of electricity fluxes, notably the electricity produced by wind and photovoltaic power. He more particularly addresses the role of RTE in the construction of the electricity market. He outlines the role of the European electricity market in the economic optimization, the new approaches and tools for a higher flexibility of the electric system, the expertise of RTE, and the perspective of always more smart grids

  15. Time-zero efficiency of European power derivatives markets

    International Nuclear Information System (INIS)

    Peña, Juan Ignacio; Rodriguez, Rosa

    2016-01-01

    We study time-zero efficiency of electricity derivatives markets. By time-zero efficiency is meant a sequence of prices of derivatives contracts having the same underlying asset but different times to maturity which implies that prices comply with a set of efficiency conditions that prevent profitable time-zero arbitrage opportunities. We investigate whether statistical tests, based on the law of one price, and trading rules, based on price differentials and no-arbitrage violations, are useful for assessing time-zero efficiency. We apply tests and trading rules to daily data of three European power markets: Germany, France and Spain. In the case of the German market, after considering liquidity availability and transaction costs, results are not inconsistent with time-zero efficiency. However, in the case of the French and Spanish markets, limitations in liquidity and representativeness are challenges that prevent definite conclusions. Liquidity in French and Spanish markets should improve by using pricing and marketing incentives. These incentives should attract more participants into the electricity derivatives exchanges and should encourage them to settle OTC trades in clearinghouses. Publication of statistics on prices, volumes and open interest per type of participant should be promoted. - Highlights: •We test time-zero efficiency of derivatives power markets in Germany, France and Spain. •Prices in Germany, considering liquidity and transaction costs, are time-zero efficient. •In France and Spain, limitations in liquidity and representativeness prevent conclusions. •Liquidity in France and Spain should improve by using pricing and marketing incentives. •Incentives attract participants to exchanges and encourage them to settle OTC trades in clearinghouses.

  16. Electricity and emission allowance markets from Finnish viewpoint. Study

    International Nuclear Information System (INIS)

    Kara, M.

    2006-05-01

    During 1995.2005 the Nordic energy system has experienced two major changes, the opening of the electricity market for competition and emissions trading within the EU. The European Union's emissions trading scheme (EU ETS) that began operating at the beginning of 2005 has weakened the competitiveness of Finnish electricity production and raised electricity prices. Most electricity producers have accumulated large profits thanks to higher prices. The payers have been nearly all electricity users. This report studies the effects of emissions trading on the electricity market and the functionality of the power market. Very little investment has been made in power production capacity in the Nordic countries over the past ten years. Considerable increases have mainly been made in Danish wind power capacity. Simultaneously, the total consumption of electricity and maximum system load have increased more than installed capacity has grown. In the next few years the power and energy balances may be threatened. In previous years, Finland has often been separated as its own market price area on the Nordic power exchange. The formation of price areas has been affected by the limited capacity in transmission interconnectors, network reparation work and the operating method of the Swedish national system operator, Svenska Kraftnaet (transferring domestic bottlenecks to the borders). This study reviews the scale of price differences and the effect on market activities. On the common Nordic electricity market, Finnish coal and peat condensing power capacity is mainly used during poor precipitation years. These plants were once built for base load production. Carbon dioxide emissions trading has further weakened the competitiveness of these plants. The biggest problem for the Nordic power exchange, Nord Pool, is regarded to be that market concentration in electricity production is high. Market concentration decreases the investment willingness of existing players as new power

  17. Impact of carbon constraint on the European electricity sector

    International Nuclear Information System (INIS)

    Stankeviciute, Loreta

    2010-01-01

    Two sets of factors will be decisive for the future evolution of European electricity sector: on the one hand, the necessity of new wave of investments for the renewal and the expansion of production capacities and, on the other hand, the emergency and the reinforcement of greenhouse gas emissions (GHG) constraints imposed by European policies and directives. The general idea of thesis is that European Emissions Trading system (ETS) is the instrument that can facilitate the decarbonization of European electricity system. However, the necessary conditions ought to be brought together in the context of liberalisation in terms of risk management, market architecture and setting up of the complementary public policy instruments, in order for the carbon price signal to be effective. The purpose of the thesis is to provide details on these conditions and to examine the potentials scenarios for the evolution of European electricity production mix under the carbon constraint. The introduction of liberalisation in the electricity industry conditions significantly the investment choice. The analysis of theoretical market model allows demonstrating organisational inadequacy for developing an optimal technological mix and for adapting to long-term issues due to the extreme difficulty of interpreting the price signals. Indeed, the logic of a market and a concurrence disadvantages the investments in capital-intensive technologies, even though some of them less polluting like renewable energies, nuclear, hydraulic and thermal technologies integrating carbon capture and sequestration (CCS). In face of numerous uncertainties, the role of long-term risk management becomes therefore crucial. The employment of transaction cost theory allows studying the combinations of vertical arrangements that remain necessary in order to manage the risk and to facilitate the investments (e.g. vertical integration). The introduction of ETS overlaps with the market risks inherent to liberalisation

  18. Price dynamics in European petroleum markets

    International Nuclear Information System (INIS)

    Wlazlowski, Szymon; Giulietti, Monica; Binner, Jane; Milas, Costas

    2009-01-01

    This paper analyses horizontal and vertical price dynamics in the EU petroleum markets. The results indicate that the cross-country price differentials have significant impact on the local price adjustments. We investigate the cross-national price spill-overs and find that the extent of the welfare transfer due to asymmetric price transmission, when analysed in a cross-country setting, is less pronounced than claimed in previous contributions in this area. We also find empirical evidence, although indirect, for the politically charged concept of 'fuel tourism', using a pan-European cross-product time series dataset. (author)

  19. Proposal of a new architecture for the electricity market. Report for France Energie Eolienne

    International Nuclear Information System (INIS)

    2014-09-01

    In a context of evolution of electricity markets in all European countries, with notably an increasing share of renewable energies (particularly wind and solar energy), and as there are two main objectives for the future electricity market rules (integration of renewable energies within the market, market adaptation to a strong development of these energies), this document reports the development of recommendations for the implementation of a market architecture which would promote these objectives in France. These recommendations concern the access to the grid, the wholesale market, adjustment rules, an additional remuneration for renewable energies, the retail market, and the carbon market

  20. Analysis of electricity price in Danish competitive electricity market

    DEFF Research Database (Denmark)

    Hu, Weihao; Chen, Zhe; Bak-Jensen, Birgitte

    2012-01-01

    electricity markets in some ways, is chosen as the studied power system. 10 year actual data from the Danish competitive electricity market are collected and analyzed. The relationship among the electricity price (both the spot price and the regulation price), the consumption and the wind power generation...... in an electricity market is investigated in this paper. The spot price and the regulation price generally decrease when the wind power penetration in the power system increases or the consumption of the power system decreases. The statistical characteristics of the spot price and the regulation price for different...... consumption periods and wind power penetration are analyzed. Simulation results show that the findings of this paper are useful for wind power generation companies to make the optimal bidding strategy so that the imbalance cost of trading wind power on the electricity market could be reduced....

  1. The greening of European electricity industry: A battle of modernities

    International Nuclear Information System (INIS)

    Midttun, Atle

    2012-01-01

    Europe has played the role of a green hegemon on the global arena for several decades. By exploring its green transition in the electricity industry, the article discusses whether Europe is on track with regard to delivering sustainable development in a core sector at home. The article finds that the greening of European electricity industry has been highly dynamic and can best be represented in terms of competing modernities; where carbon, nuclear, renewables and demand side management challenge each other in the race for sustainable energy solutions. The article describes Greening European electricity industry as a complex institutional game which resembles a relay race where various factors have driven innovation at different stages. Change may be initially have been politically driven, while the baton is later taken by markets, technology or civic mobilization. The article shows how strong greening policies may lead to blockage, whereas softer and less confrontational policies with triggering effects may have a better chance of success. The article also argues that a central factor in the apparent European success in greening electricity has been an advantageous blend of technology push and market pull approaches, which has merged out of national rivalry rather than coordinated planning. - Highlights: ► European el-industry has met the climate challenge with four rivaling modernities. ► They are carbon modernity, nuclear modernity, supply and demand side ecomodernity. ► Europe has successfully facilitated green transition through three channels. ► They are green radicalism, institutional pluralism and multiple policy instruments. ► Europe has been a front-runner, but faces challenges mainstreaming sustainability.

  2. Assessing the efficiency of US electricity markets

    International Nuclear Information System (INIS)

    Arciniegas, I.; Barrett, C.; Marathe, A.

    2003-01-01

    The recent California's energy crisis has raised doubts about the benefits of energy deregulation. While it is true that the California electricity market is in turmoil, other electricity markets like the Pennsylvania-NewJersey-Maryland (PJM) are doing fine. This paper assesses the mark of efficiency reached by the electricity markets in California, New York, and PJM. It also compares the degree of efficiency across markets (forward vs. real time) and across time. No significant differences between the California and PJM electricity markets were discovered in the year of California's energy crisis (2000) using the co-integration tests. This research suggests that differences in price behavior between these two markets during 2000 did not arise from differences in efficiency. According to our analysis and measures of efficiency, PJM and California electricity markets are more efficient than the New York market. Also, as these markets become more mature over time, their efficiency level goes up. We also found evidence that a multi-settlement scheduling system leads to higher efficiency. (author)

  3. European wood pellet market integration - A study of the residential sector

    International Nuclear Information System (INIS)

    Olsson, Olle; Hillring, Bengt; Vinterbaeck, Johan

    2011-01-01

    The integration of European energy markets is a key goal of EU energy policy, and has also been the focal point of many scientific studies in recent years. International markets for coal, oil, natural gas and electricity have previously been investigated in order to determine the extent of the respective markets. This study enhances this field of research to bioenergy markets. Price series data and time series econometrics are used to determine whether residential sector wood pellet markets of Austria, Germany and Sweden are integrated. The results of the econometric tests show that the German and Austrian markets can be considered to be integrated, whereas the Swedish market is separate from the other two countries. Although increased internationalization of wood pellet markets is likely to contribute to European price convergence and market integration, this process is far from completed. (author)

  4. A novel approach to electricity market education

    International Nuclear Information System (INIS)

    Karjalainen, R.; Viljainen, S.; Partanen, J.

    2007-01-01

    The special characteristics of the competitive Nordic electricity markets were discussed with particular references to the challenges of operating an open power market. Electricity prices in Norway are highly volatile and difficult to estimate because the demand for electricity depends highly on temperature, while the supply of electricity is influenced by water reservoir levels and the price of carbon dioxide allowances. An innovative approach to power engineering education was proposed in an effort to provide power engineering students at Lappeenranta University of Technology (LUT) with skills that are needed for open electricity markets. In addition to the basic power engineering skills, these include an understand of risk management, financing, sales and marketing. The approach was based on developing theoretical and practical teaching methods that are applied in power engineering education at LUT. The practical learning methods played a key role in the development of a Power Exchange Game which was based on the operation of the Nordic power exchange Nord Pool. During the game, student teams used their knowledge and acted as portfolio managers of electric utilities where they analyzed and made decisions regarding the operation in the Nordic electricity market. Upon completion of the game, students were expected analyze their own performance in a final report. Most of the students considered the course an effective and interesting way to study the operation of electricity markets. 9 refs., 1 tab., 9 figs

  5. Cross-border effects of capacity mechanisms in electricity markets

    International Nuclear Information System (INIS)

    Elberg, Christina

    2014-01-01

    To ensure security of supply in liberalized electricity markets, different types of capacity mechanisms are currently being debated or have recently been implemented in many European countries. The purpose of this study is to analyze the cross-border effects resulting from different choices on capacity mechanisms in neighboring countries. We consider a model with two connected countries that differ in the regulator's choice on capacity mechanism, namely strategic reserves or capacity payments. In both countries, competitive fi rms invest in generation capacity before selling electricity on the spot market. We characterize market equilibria and find the following main result: While consumers' costs may be the same under both capacity mechanisms in non-connected countries, we show that the different capacity mechanisms in interconnected countries induce redistribution effects. More precisely, we nd that consumers' costs are higher in countries in which reserve capacities are procured than in countries in which capacity payments are used to ensure the targeted reliable level of electricity.

  6. Restructured electric power systems analysis of electricity markets with equilibrium models

    CERN Document Server

    2010-01-01

    Electricity market deregulation is driving the power energy production from a monopolistic structure into a competitive market environment. The development of electricity markets has necessitated the need to analyze market behavior and power. Restructured Electric Power Systems reviews the latest developments in electricity market equilibrium models and discusses the application of such models in the practical analysis and assessment of electricity markets.

  7. The operation of wholesale electricity, CO2 and natural gas markets in 2010-2011

    International Nuclear Information System (INIS)

    2011-01-01

    The first part analyses the electricity wholesale markets: development of the main wholesale market segments, electricity price, electricity production analysis and transparency of production data, transaction analysis. The second part analyses CO 2 markets: evolution of the institutional framework and perspectives, exchanges volumes on the CO 2 market, the CO 2 price in Europe, fundamentals of the European CO 2 market. The third part addresses the gas market: development of gas trade, gas price, gas infrastructures, supply and outlets for stake holders and new comers

  8. Observatory of electricity and gas markets, data from the 3. quarter 2004 to the 1. quarter 2013

    International Nuclear Information System (INIS)

    2013-04-01

    This document gathers those published for each quarter since the 3. quarter 2004 and until the 1. quarter 2013. Each of them proposes and comments figures and tables of data regarding the electricity retail market (customer segments, evolution, price on the retail market), the electricity gross market (French market activity and European comparison, prices on the French market and European comparison, import and export volumes, market evolution), the gas retail market (customer segments, evolution, switch rate of providers, price, bill evolution...) and the gas gross market (price formation in France and in Europe, gross market activity in France, highlights)

  9. CROATIAN HONEY MARKET IN EUROPEAN ENVIRONMENT

    Directory of Open Access Journals (Sweden)

    Dragana Dukić

    2004-06-01

    Full Text Available This examination is based on comparison of honey production, in countries of European Union, transition countries and The Republic of Croatia. The situation in Croatia is shown with all information about honey production. All data are compared with already managed European countries. In comparison with registrated number of beekeepers and hives, Croatia belongs to transition countries with the smallest number of beekepers and hives. On the other hand, values, such as, number of hives per beekeper and average honey production by hive, classify Croatia ahead of transition countries. There are very few professional beekepers in Croatia, as well as in other transition countries, but not countries of The European Union. Honey production in Croatia has been increasing last seven years and in the last few it increased more than 50%. Export of honey in the last 2 years is half of the complete honey production, which accomplish conditions for export enlargement. At the same time, import of honey is considerable reduced. Conditions for export can be better with production of biological clean honey (eco-honey, since Croatia has great resources for it. Also, cost of Croatian honey on the foreign market, will be considerable higher.

  10. An options model for electric power markets

    International Nuclear Information System (INIS)

    Ghosh, Kanchan; Ramesh, V.C.

    1997-01-01

    The international electric utility industry is undergoing a radical transformation from an essentially regulated and monopolistic industry to an industry made uncertain with impending deregulation and the advent of competitive forces. This paper investigates the development of an options market for bulk power trading in a market setup while considering power system planning and operational constraints and/or requirements. In so doing it considers the different market based financial derivative instruments while can be used to trade electrical power in bulk and examines how established tools such as Optimal Power Flow (OPF) may be applied in helping to develop a price for bulk power transactions under a market based setup. (Author)

  11. Asynchronous decentralized method for interconnected electricity markets

    International Nuclear Information System (INIS)

    Huang, Anni; Joo, Sung-Kwan; Song, Kyung-Bin; Kim, Jin-Ho; Lee, Kisung

    2008-01-01

    This paper presents an asynchronous decentralized method to solve the optimization problem of interconnected electricity markets. The proposed method decomposes the optimization problem of combined electricity markets into individual optimization problems. The impact of neighboring markets' information is included in the objective function of the individual market optimization problem by the standard Lagrangian relaxation method. Most decentralized optimization methods use synchronous models of communication to exchange updated market information among markets during the iterative process. In this paper, however, the solutions of the individual optimization problems are coordinated through an asynchronous communication model until they converge to the global optimal solution of combined markets. Numerical examples are presented to demonstrate the advantages of the proposed asynchronous method over the existing synchronous methods. (author)

  12. Use of demand response in electricity markets

    DEFF Research Database (Denmark)

    Singh, Sri Niwas; Østergaard, Jacob

    2010-01-01

    Demand response (DR) can provide sufficient measure, if implemented successfully, to provide economic, secure and stable supply to the customers even under the variability of the generated output from renewable energy source such as wind and solar. However, there are several issues to be analyzed...... before DR implementation. This paper critically examines the present practices of the DR in the various electricity markets existing in the world including Europe. The prospect of DR in various market levels such as day-ahead (spot) market, hour-ahead market, real time/regulating market and ancillary...... market is analyzed. This paper also addresses the key issues and challenges in the implementation of DR in the electricity markets....

  13. Electricity market readiness plan : Ontario Energy Board

    International Nuclear Information System (INIS)

    2001-03-01

    This document informs electric power market participants of the Ontario Energy Board's newly developed market readiness plan and target timelines that local distribution companies (LDCs) must meet for retail marketing. The Ontario Energy Board's plan incorporates relevant independent market operator (IMO)-administered market milestones with retail market readiness targeted for September 2001. The market readiness framework involves a self-certification process for LDCs by August 10, 2001, through which the Board will be able to monitor progress and assess the feasibility of meeting the target timelines. For retail market readiness, all LDCs will have to calculate settlement costs, produce unbundled bills, provide standard supply service, change suppliers and accommodate retail transactions. LDCs must be either authorized participants in the IMO-administered market or become retail customers of their host LDC. Unbundled bills will include itemized charges for energy price, transmission, distribution and debt retirement charge. 1 tab., 1 fig

  14. Determining market boundaries in the electricity sector

    International Nuclear Information System (INIS)

    Godde, Anne

    2013-01-01

    The purpose of the present study was to develop a method of determining market boundaries in preparation of identifying all the competitive forces which a company in the electricity sector must address and deciding on this basis whether it has a dominant position in the market. The study focused in particular on current developments in the German electricity sector, this being the only way to permit a demarcation that accurately reflects the true economic situation. First the question was addressed whether a determination of market boundaries is at all necessary for performing a competitive analysis and in what specific constellations they could play a role. Giving due consideration to the special features of the electricity sector the most preferable market demarcation methods were applied to individual areas of the electricity sector that are of competitive relevance. Efforts were directed at arriving at market boundaries most conducive to the goal of identifying those competitive forces which a company in the electricity sector must address. For this purpose a critical assessment was undertaken of established market demarcation practices in Europe and Germany in order to determine whether ''classical'' market demarcation methods could be applied or whether modifications were needed on account of special features of market structure. The author also describes and discusses alternatives to the established market demarcation methods. She also elucidates methods of determining the boundaries of markets that have emerged as a result of recent developments in the electricity sector, for example through the growth of electricity production from renewable resources, or which are still in the process of formation.

  15. The European Market for Seasonal Gas Storage

    International Nuclear Information System (INIS)

    Mahan, A.

    2006-02-01

    European demand for gas will grow in the years to come. Simultaneously, gas production in Europe will decrease and imported gas will be needed to replace indigenous production. Gas demand is not constant during the year. There are variations in demand on different timescales ranging from seasonal to hourly. Variations in demand are characterised by two main parameters: working volume and deliverability. Working volume - the amount of gas that can be supplied above the baseload production volume during a long (cold) period- is primarily needed to cope with the summer-winter pattern of gas consumption. Most of the summer-winter pattern comes from the temperature sensitive gas consumption by households and service industries. Gas usage by industry and the power sector are more evenly spread throughout the year and need less working volume. Deliverability - the amount of gas per hour that can be generated on a (very) cold day above the baseload capacity - is the ability to produce large volumes during short periods, e.g. for extremely cold days, or during peak periods during a day. In this paper we argue that a large amount of additional working volume will be required over the coming years. First, flexible European production will be replaced by long-distance import gas, and second, the gas market is expected to grow further. Todays market appears focus mainly on cavems for storage volume. Cavems have little working volume but are ideal for trading purposes. Consequently, Europe may be facing a deficit in working volume, i.e. the ability to cope with seasonal changes in demand. This paper aims to widen the discussion of this matter and give rise to this concern by setting out a broad analysis, exploring the market drivers for seasonal storage and identifying the public interest issues for this market. Chapter 2 gives an overview of demand for and supply characteristics of gas flexibility. Chapter 3 describes the role of gas storage facilities in the gas market

  16. European municipalities and the liberalized energy market

    International Nuclear Information System (INIS)

    2002-04-01

    Municipalities are directly affected by the liberalization of the energy markets. Because they all consume or even produce energy, whether it be for their own consumption or to resell it, they often distribute gas, electricity or heat, they plan urban areas and organize the energy networks on their territory, while in addition citizens expect municipalities to inform them and even protect them against the possible excesses of energy salesmen. Elected representatives administrations, local agencies, municipal companies, citizens' associations etc., all have to innovate. This supplement to Energie-Cites INFO is intended to provide you with practical information and further analyses of the liberalization process. (authors)

  17. Electricity market design of the future

    International Nuclear Information System (INIS)

    Peek, Markus; Diels, Robert

    2016-01-01

    The transformation of the power generation system, to one in which renewable energies will form a cornerstone, will change the requirements for all market actors. To achieve the goals of the German Energiewende ('energy transition'), greater flexibility in production and consumption is of particular importance. Flexibility enables the cost-effective integration of the fluctuating actual feed-in of renewable energies. On the one hand, the technical options for reducing existing technical inflexibilities are given to a considerable extent. On the other hand, analyses of the transnational compensation effects of load and renewable energy supply (RES) feed-in show that flexibility requirements can be reduced significantly in a common electricity market. Electricity markets in which there is open technological competition are an appropriate instrument for the flexibilization of the power supply system. In the short term, the mechanisms of competitive electricity markets ensure an efficient synchronization of supply and demand. Over the medium and long term, the market creates efficient incentives to adapt the generation system and the behavior of consumers to future needs, resulting from the changes in the residual load structure. But at the same time, in recent years the occurrence of negative electricity prices in situations with significantly positive residual loads show that flexibility restraints exist. The causes of these restraints are at least partly due to the market design or the regulatory framework. On the one hand, there are barriers to market entry and, on the other hand, price signals from the electricity markets do not reach all market actors or reach them distortedly. To enable the cost effective development of the different flexibility options in an open technology competition, restraints resulting from market design and the regulatory framework (e. g. in the framework of grid charges, the market and product design of control power markets

  18. The interdependence of major european stock markets: evidence for Greece

    OpenAIRE

    Καινούργιος, Δημήτριος Φ.; Σαμίτας, Αριστείδης Γ.

    2003-01-01

    This paper provides new evidence on the relationship between the Greek "blue chip" stock market and the six relative European markets by applying cointegration tests. The time period examined is 1998 to 2000, which marks the entry of Greece to the European Exchange Rates Mechanism II. The empirical results indicate that the Athens Stock Exchange has no considerable links, except for one case, with any other European developed markets examined. These findings have some significa...

  19. Grid Integration of Electric Vehicles in Open Electricity Markets

    DEFF Research Database (Denmark)

    congestion management scenario within electric distribution networks •optimal EV charging management with the fleet operator concept and smart charging management •EV battery technology, modelling and tests •the use of EVs for balancing power fluctuations from renewable energy sources, looking at power......Presenting the policy drivers, benefits and challenges for grid integration of electric vehicles (EVs) in the open electricity market environment, this book provides a comprehensive overview of existing electricity markets and demonstrates how EVs are integrated into these different markets...... of the technologies for EV integration, this volume is informative for research professors and graduate students in power systems; it will also appeal to EV manufacturers, regulators, EV market professionals, energy providers and traders, mobility providers, EV charging station companies, and policy makers....

  20. Electricity regulation and electricity market reforms in China

    International Nuclear Information System (INIS)

    Ngan, H.W.

    2010-01-01

    The electricity industry of China has been in a process of reforms since the 1980s. This paper gives a review on the three main stages of reforms in China so as to trace out key features of various reform measures including those for power investment financing, the separation between government and power enterprises, and the division between power generation firms and power grids. The findings suggest that further regulatory change in China's electricity market reform is necessary when integration of the electricity markets and increased competition are paving the way ahead for a market-oriented structure. Prospective electricity regulation in the form of a strong legal system and effective institutions that protect market competition and promote appropriate incentives for efficiency are suggested in the paper. (author)

  1. Pricing of electricity tariffs in competitive markets

    International Nuclear Information System (INIS)

    Keppo, J.; Raesaenen, M.

    1999-01-01

    In many countries electricity supply business has been opened for competition. In this paper we analyze the problem of pricing of electricity tariffs in these open markets, when both the customers' electricity consumption and the market price are stochastic processes. Specifically, we focus on regular tariff contracts which do not have explicit amounts of consumption units defined in the contracts. Therefore the valuation process of these contracts differs from the valuation of electricity futures and options. The results show that the more there is uncertainty about the customer's consumption, the higher the fixed charge of the tariff contract should be. Finally, we analyze the indication of our results to the different methods for estimating the customer's consumption in the competitive markets. Since the consumption uncertainties enter into the tariff prices, the analysis indicates that the deterministic standard load curves do not provide efficient methods for evaluating the customers' consumption in competitive markets

  2. Environmental policies in competitive electricity markets

    NARCIS (Netherlands)

    Langestraat, R.

    2013-01-01

    In this thesis we model and analyze several environmental policies in an existing mathematical representation of a perfectly competitive electricity market. We contribute to the literature by theoretically and numerically establishing a number of effects of environmental policies on investment

  3. Price formation in electricity forward markets and the relevance of systematic forecast errors

    International Nuclear Information System (INIS)

    Redl, Christian; Haas, Reinhard; Huber, Claus; Boehm, Bernhard

    2009-01-01

    Since the liberalisation of the European electricity sector, forward and futures contracts have gained significant interest of market participants due to risk management reasons. For pricing of these contracts an important fact concerns the non-storability of electricity. In this case, according to economic theory, forward prices are related to the expected spot prices which are built on fundamental market expectations. In the following article the crucial impact parameters of forward electricity prices and the relationship between forward and future spot prices will be assessed by an empirical analysis of electricity prices at the European Energy Exchange and the Nord Pool Power Exchange. In fact, price formation in the considered markets is influenced by historic spot market prices yielding a biased forecasting power of long-term contracts. Although market and risk assessment measures of market participants and supply and demand shocks can partly explain the futures-spot bias inefficiencies in the analysed forward markets cannot be ruled out. (author)

  4. Liberalization of power generation sector in the Croatian electricity market

    International Nuclear Information System (INIS)

    Viskovic, Alfredo

    2005-01-01

    The electricity market liberalization and the restructuring of power utilities eventually leads to the establishment of a single electricity market in Europe, which is especially important for efficiency gains in electricity generation coupled with increased security of supply, economic competitiveness and fulfillment of environmental requirements. The European electricity market Directives as well as the Energy Community Treaty for South East Europe (legislative Menu) have remarkable impact on the restructuring of the Croatian power sector and the development of electricity generation. The Croatian model of restructuring includes legal un bundling (in the ownership of one holding company - Hrvatska Elektroprivreda (HEP)). The operation of HEP Group and its subsidiaries in the conditions of partially opened electricity market in an important element that shapes the interactions of competitive activities and regulated activities in the environment influenced by exogenous factors a thirteen percent electricity are controlled by the Energy Market Operator (MO), the Transmission System Operator (TSO) and the Energy Regulatory Agency (CERA). The introduction of eligible procedures and newly created operative procedures for power system operation, are creating completely new conditions for competition in the power generation sector, where almost all power plants are owned by HEP. New generating capacities in Croatia can be built through tendering and licensing procedures carried out by the Regulator. Electricity prices are still regulated by the Government (below the cost reflective level), there is a small share of industrial consumers and the annual electricity production is 12 TWh, with relatively large share of hydro plants. All these have implications on the development of the power generation sector in Croatia as well as on electricity market operation. The subject matter of this paper is an impact of power system restructuring and electricity market opening on the

  5. Climate change: impacts on electricity markets in Western Europe.

    Science.gov (United States)

    Golombek, Rolf; Kittelsen, Sverre A C; Haddeland, Ingjerd

    This paper studies some impacts of climate change on electricity markets, focusing on three climate effects. First, demand for electricity is affected because of changes in the temperature. Second, changes in precipitation and temperature have impact on supply of hydro electric production through a shift in the inflow of water. Third, plant efficiency for thermal generation will decrease because the temperature of water used to cool equipment increases. To find the magnitude of these partial effects, as well as the overall effects, on Western European energy markets, we use the multi-market equilibrium model LIBEMOD. We find that each of the three partial effects changes the average electricity producer price by less than 2%, while the net effect is an increase of only 1%. The partial effects on total electricity supply are small, and the net effect is a decrease of 4%. The greatest effects are found for Nordic countries with a large market share for reservoir hydro. In these countries, annual production of electricity increases by 8%, reflecting more inflow of water, while net exports doubles. In addition, because of lower inflow in summer and higher in winter, the reservoir filling needed to transfer water from summer to winter is drastically reduced in the Nordic countries.

  6. Generation capacity adequacy in interdependent electricity markets

    International Nuclear Information System (INIS)

    Cepeda, Mauricio; Finon, Dominique

    2011-01-01

    This paper deals with the practical problems related to long-term security of supply in regional electricity markets with transmission constraints. Differences between regulatory policies and market designs in terms of generation adequacy policies may distort the normal functioning of the neighboring markets, as well as the reliability of supply. We test the effect of heterogeneous regulatory design between two interdependent markets: energy-only market, price-capped market without capacity mechanisms and price-capped markets with forward capacity contracts obligation. We rely on a long-term market simulation model in system dynamics that characterizes expansion decision in a competitive regime. The results show that differences in market designs affect both price and reliability of supply in the two markets. We examine both the short and long terms effect, and how free-riding may occur where capacity adequacy policies are adopted in one market but not the other. The main finding is that the lack of harmonization between local markets in policies to ensure capacity adequacy may lead to undesirable side effects. - Research highlights: → We model the long-term dynamic of two interdependent markets. → We examine both the short and long terms effect of heterogeneous regulatory design: energy-only market, price-capped market without capacity mechanisms and price-capped markets with forward capacity contracts obligation. → Differences in market designs affect both price and reliability of supply in the two markets. → Lack of harmonization between local markets in policies to ensure capacity adequacy may lead to undesirable side effects. → Free-riding may occur where capacity adequacy policies are adopted in one market but not the other.

  7. Adequate intraday market design to enable the integration of wind energy into the European power systems

    Energy Technology Data Exchange (ETDEWEB)

    Weber, Christoph [University Duisburg-Essen, Chair for Energy Economics and Management Sciences, Universitaetsstrasse 12, 45 117 Essen (Germany)

    2010-07-15

    This contribution analyses the European electricity markets with respect to their aptitude to absorb large amounts of wind energy. Thereby in a first step the market designs of the major European power markets in France, Germany, Scandinavia, Spain and UK are reviewed, with a particular focus on liquidity in the spot and intraday markets. Then some key features of the short-term adjustments required by wind energy are discussed and the necessity of sufficient liquidity in intraday markets is highlighted. For the example of the German market subsequently the discrepancy between the physical short-term adjustment needs and the traded volumes on the intraday market is analyzed. This leads to an evaluation of proposals for improving the liquidity on the short-term market, including the use of continuous spot trading like in UK or the use of intraday auctions like in Spain. (author)

  8. Modelling prices in competitive electricity markets

    International Nuclear Information System (INIS)

    Bunn, D.W.

    2004-04-01

    Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices. The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling. Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets. (author)

  9. Fostering renewable electricity markets in North America

    International Nuclear Information System (INIS)

    Wingate, M.; Hamrin, J.; Kvale, L.; Alatorre, C.

    2007-04-01

    This paper provided an overview of key market demand and supply drivers for the renewable electricity in Canada, the United States and Mexico. The aim of the paper was to assist North American governments in supporting the development of renewable electricity by addressing barriers that currently contribute to higher costs as well as challenges related to policy implementation. The paper outlined regulatory mandates and discussed issues related to voluntary purchases, and financial incentives. Current policy frameworks for renewable electricity were also examined. Opportunities for developing the renewable electricity market North America were explored. Wind power environmental standards were reviewed. Various green pricing schemes were discussed. The paper also included recommendations for the current electricity market as well as for members of the North American Agreement on Environmental Cooperation. 84 refs., 4 tabs., 7 figs

  10. Cooperation or Localization in European Capacity Markets? A Coalitional Game over Graph Approach

    Directory of Open Access Journals (Sweden)

    Giorgos Stamtsis

    2018-06-01

    Full Text Available Capacity markets, as a means to address the capacity adequacy issue, are constantly becoming an important part of the European internal electricity market. The debate focuses on how the capacity markets will be smoothly integrated in one Pan-European power market, without resulting in multiple national fragmentations and consequently in economic efficiency losses. Cross-border participation and regional cooperation are considered as two sine qua non conditions in this respect. The present paper provides a coalitional game theoretical approach aiming to facilitate the cooperation of neighboring countries, when it comes to the security of electricity supply and the necessity of establishing a capacity market. Such an approach can support respective decisions about capacity markets cooperation as well as stress-test the benefits considering all cooperation possibilities.

  11. A Nodal Pricing Analysis of the Future German Electricity Market

    International Nuclear Information System (INIS)

    Ozdemir, O.; Hers, J.S.; Bartholomew Fisher, E.; Brunekreeft, G.; Hobbs, B.F.

    2009-05-01

    The electricity market in Germany is likely to undergo several significant structural changes over the years to come. Here one may think of Germany's ambitious renewable agenda, the disputed decommissioning of nuclear facilities, but also unbundling of TSO's as enforced by European regulation. This study is a scenario-based analysis of the impact of different realizations of known investment plans for transmission and generation capacity on the future German power market while accounting for internal congestion. For this analysis the static equilibrium model of the European electricity market COMPETES is deployed, including a 10-node representation of the German highvoltage grid. Results for the multi-node analysis indicate that price divergence and congestion are likely to arise in the German market as renewable additions affecting mainly the North of Germany, the debated decommissioning of nuclear facilities in the South, and the expected decommissioning of coal-fired facilities in Western Germany appear to render current investment plans for transmission capacity insufficient. The current system of singlezone pricing for the German market may therewith be compromised. However, transmission additions would not benefit all market parties, with producers in exporting regions and consumers in importing regions being the main beneficiaries. Vertical unbundling of German power companies could increase the incentive for constructing transmission lines if generation capacity would cause Germany to be a net-importing country. In case Germany remains a net-exporting country, the effects of vertical unbundling on cross-border capacity are less clear cut.

  12. Ramsey prices in the Italian electricity market

    International Nuclear Information System (INIS)

    Bigerna, Simona; Bollino, Carlo Andrea

    2016-01-01

    In this paper, we derive optimal zonal prices in the Italian day-ahead electricity market using estimation of a complete system of hourly demand in 2010–2011. In Italy, the hourly equilibrium price for all buyers is computed as a uniform average of supply zonal prices, resulting from market splitting due to line congestion. We model ex-ante individual bids expressed by heterogeneous consumers, which are distinguished by geographical zones. Using empirical estimations, we compute demand elasticity values and new zonal prices, according to a Ramsey optimal scheme. This is a new approach in the wholesale electricity market literature, as previous studies have discussed the relative merit of zonal prices, considering only the issue of line congestion. Our results show that the optimal pricing scheme can improve welfare in the day-ahead Italian electricity market, with respect to both the existing uniform price scheme and the proposal to charge the existing supply zonal prices to the demand side. - Highlights: • We model and estimate the demand of heterogeneous buyers in the electricity market. • Transmission line congestion creates welfare distortions in the market. • We derive optimal Ramsey prices in the Italian day-ahead electricity market. • We compare optimal prices with historical ones showing how to improve welfare.

  13. What went wrong in California's electricity market?

    International Nuclear Information System (INIS)

    Chikeung Woo

    2001-01-01

    The California electricity market reform promised to deliver reliable service at low and stable prices. Frequent capacity shortages and the ensuing rolling black-outs, price spikes, and large price volatility since Summer 2000 raise a simple but substantive question: what went wrong? The answer to this question will help countries contemplating electricity market reform not to commit similar mistakes. We find the answer by identifying the major factors that have turned the California dream into a nightmare. Such factors include poor market design, market power, sustained demand growth not matched by new capacity, rising marginal cost, and financial insolvency. Proposed remedies include an alternative market settlement process, long-term contract, fast licensing and siting process for new generation and transmission, conservation and energy-efficiency, distributed resources, rate options, and debt restructuring. The California experience suggests that a reversible regulatory reform is a safe alternative to an irreversible market reform. (Author)

  14. Transmission : roadway to a competitive electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Thon, S. [AltaLink L.P., AB (Canada)

    2002-07-01

    Having a variety of suppliers, marketers and retailers is the key to developing a successful electricity market which is more competitive on pricing, with less price volatility, more innovative customer products and higher levels of customer services. Some areas of Alberta are developing their own power markets with limited capacity to interact. These include Pincher Creek, Empress, Calgary, Edmonton, and Fort McMurray. It was noted that increasing transmission capacity is the key to ensuring a bigger and more competitive electricity market. Transmission constraints only encourage a small number of suppliers to control the market. The current cost of transmission capacity accounts for less than 5 per cent of an average residential customer's bill, but it plays a major role in providing more choice to competitive electricity suppliers. Developing more transmission capacity will create an even more competitive market that benefits both consumers and suppliers. Prices in Alberta have been very volatile in the past couple of years because of supply and demand issues, and there is a need to increase market liquidity. Alberta's Transmission Administrator is looking to expand the transmission network to alleviate constraints and to lower the cost of power generation, regardless of location. These expansions are not expected to affect customers' bills by more than 2 to 3 per cent. Such transmission concerns are being felt all over North America. The Federal Energy Regulatory Commission (FERC) in the United States also recognizes the link between transmission and creating a competitive electricity market.

  15. Electric utilities strategies in final energy markets

    International Nuclear Information System (INIS)

    Bianchi, A.

    2000-01-01

    In rapidly changing markets, electric utilities pay growing attention to customers and service. They are aware that competition needs strategies capable of transforming and strengthening the privileged position resulting from the knowledge of the market. Moreover, this aspect is the link between different value chains to describe new multi utility approaches [it

  16. Electricity Market Manipulation: How Behavioral Modeling Can Help Market Design

    Energy Technology Data Exchange (ETDEWEB)

    Gallo, Giulia [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2015-12-18

    The question of how to best design electricity markets to integrate variable and uncertain renewable energy resources is becoming increasingly important as more renewable energy is added to electric power systems. Current markets were designed based on a set of assumptions that are not always valid in scenarios of high penetrations of renewables. In a future where renewables might have a larger impact on market mechanisms as well as financial outcomes, there is a need for modeling tools and power system modeling software that can provide policy makers and industry actors with more realistic representations of wholesale markets. One option includes using agent-based modeling frameworks. This paper discusses how key elements of current and future wholesale power markets can be modeled using an agent-based approach and how this approach may become a useful paradigm that researchers can employ when studying and planning for power systems of the future.

  17. Defining electricity markets. An arbitrage cost approach

    International Nuclear Information System (INIS)

    Kleit, A.N.

    2001-01-01

    Market definition is a crucial component of antitrust policy. There is, however, no universally accepted method of carrying out market definition. While several approaches have been presented in the literature, each has its share of drawbacks. This paper suggests that a modeling technique based upon the theory of arbitrage is well suited to answering this question. After the empirical approach is presented, it is used to calculate antitrust market definitions between electricity hubs in the American West

  18. Restructuring Electricity Markets when Demand is Uncertain

    DEFF Research Database (Denmark)

    Boom, Anette; Buehler, Stefan

    2006-01-01

    We examine the effects of reorganizing electricity markets on capacity investments, retail prices and welfare when demand is uncertain. We study the following market configurations: (i) integrated monopoly, (ii) integrated duopoly with wholesale trade, and (iii) separated duopoly with wholesale...... trade. Assuming that wholesale prices can react to changes in retail prices (but not vice versa), we find that generators install sufficient capacity to serve retail demand in each market configuration, thus avoiding blackouts. Furthermore, aggregate capacity levels and retail prices...

  19. Opportunities for electricity storage in deregulating markets

    International Nuclear Information System (INIS)

    Graves, F.; Jenkin, T.; Murphy, D.

    1999-01-01

    This article addresses the value of electricity storage and its ability to take advantage of emerging energy arbitrage opportunities: buying power when it is inexpensive, and reselling it at a higher price. The focus of this article is on electricity markets and the opportunities they present for a merchant storage device, rather than on storage technologies themselves. There are a number of existing and emerging storage technologies: pumped hydro, various batteries, compressed air energy storage (CAES), superconducting magnetic energy storage (SMES), flywheels--even conventional hydro has storage-like properties. However, all these technologies operated on the same basic principle of exploiting short-term differentials in electricity prices: buy low, sell high (a strategy that is actually meaningful in electricity markets, unlike in financial markets). The object of this article is to develop and demonstrate a means for assessing the potential value of storage in different electricity markets, rather than to attempt to assess the prospects of a particular technology. The approach taken here is to look at price data from a number of actual electricity markets to determine what opportunities they might offer to a generic storage device. A storage technology is described here by its basic performance parameters--charge and generate capacity, energy inventory limits, and efficiency--which are sufficient to assess the basic economic potential of storage in a given market. The authors look primarily at US markets, but also compare and contrast findings with the situation in foreign markets in the U.K., Norway, Canada, and Australia, and discuss how market structure can influence the value of storage. Moreover, the authors use empirically observed relationships between hourly and 5 x 16 blocked prices to infer a rule for adjusting the value of storage assets in regions where only blocked price information is available

  20. The electricity markets around the Baltic Sea

    International Nuclear Information System (INIS)

    1995-12-01

    A thorough description of the electric power markets in the countries surrounding the Baltic sea is given in this book. Environmental problems and regulations and nuclear power are surveyed. Factors that may affect an expanded trade of electricity between the countries are analyzed

  1. Liberalisation and Corporate Strategic Behaviours: A Taxonomy of the European Electric Firms

    OpenAIRE

    Schiavone Francesco; Quintano Michele

    2012-01-01

    Liberalisation in the European electricity market greatly increased the number of corporate mergers and acquisitions. This article proposes a taxonomy of the strategic behaviours of European electricity firms after the recent continental industry liberalisation. We analysed the operations of mergers and acquisitions of these companies. The «five competitive forces» model by Michael Porter was used in order to develop the taxonomy. Our analysis outlines three main strategic types: "omnivorou"s...

  2. Market study on the Mexican market for electrical distribution equipment

    International Nuclear Information System (INIS)

    1991-01-01

    A brief historical survey of the development of the Mexican electric power sector is presented, along with an overview of the state of the Mexican economy since the late 1980s and the present characteristics of the Mexican electricity sector. The Mexican market for electric power generation and distribution equipment is then assessed, from the perspective of Canadian suppliers and manufacturers intending to enter this market. Projected consumption of electrical generation and distribution equipment in Mexico for 1994 is estimated at US$1,035,600,000 ($719.4 million in production, $356.9 million in imports, and $40.7 million in exports). This market increased 12.3% in 1990, and since power demand in Mexico has been growing faster than growth in capacity, it is possible that investments in the electricity sector will grow at faster rates. Items which are traditionally imported include nuclear reactors and related equipment, boilers, turbines, power breakers, valves, coal and ash handling equipment, relays, automatic controls, and chemical treatment equipment. The USA has the greatest share of the import market with 35%, followed by Japan (22%), Switzerland (18%), and Germany (13%). Canadian exports have concentrated on distribution equipment and only totalled $1.7 million in 1990. Electricity is distributed to some 16.6 million users over a national interconnected system having total installed capacity of 30,513 MW in 1991. There are plans to increase capacity by 9.7 GW by 1994 and another 37.4-47.8 GW between 1995 and 2010. Projections of electricity needs by region are listed along with the new power plants targeted for investment. Market liberalization and lowering of tariffs have made the Mexican market more accessible to exporters. 8 tabs

  3. From the ecological niche to the mass market with 'Green Power Marketing' - 1st European Conference on Green Power Marketing 2001

    International Nuclear Information System (INIS)

    2001-01-01

    This report summarises the information presented at the European Conference on Green Power Marketing held in 2001 in St. Moritz, Switzerland. It takes a look at the market chances of ecologically produced electricity for use in Switzerland and for export. The opinions of experts from the areas of research, business, politics, marketing and non-governmental organisations that were presented at the meeting are summarised. European perspectives and trends in the USA are discussed and examples of green power marketing in the USA and Holland are given. Marketing issues and price policies are discussed, as are labelling strategies and customer perception of 'Green Power' issues. Also, sales issues including e-marketing, power-market rules and certificate trading are dealt with

  4. Consumer benefits and solutions in open electricity markets

    International Nuclear Information System (INIS)

    Kapetanovic, T.

    2003-01-01

    Liberalization of electricity markets aims at fostering competitiveness of economy, reducing costs and improving quality. These goals introduce new opportunities and require adequate solutions for the position of consumers. Transparent pricing and tariffs, freedom to choose a supplier, a possibility to decide on preferred primary source, e.g. renewables, are some of the benefits. Security, reliability and quality of supply are a challenge in the unbundled environment, to be solved accordingly as well as the non-discrimination, access and connection to the grid. The paper presents consumer-related experiences in liberalized electricity markets, based on the developments in Austria since the full market opening on October 1, 2001. The issues covered include grid access, consumer switching, price and tariff developments. The concept of incentive and quality-regulation is mentioned briefly, concluding with security of supply issues and impacts of the European Union legislation.(author)

  5. Power generation investment in electricity markets

    International Nuclear Information System (INIS)

    2003-01-01

    Most IEA countries are liberalizing their electricity markets, shifting the responsibility for financing new investment in power generation to private investors. No longer able to automatically pass on costs to consumers, and with future prices of electricity uncertain, investors face a much riskier environment for investment in electricity infrastructure. This report looks at how investors have responded to the need to internalize investment risk in power generation. While capital and total costs remain the parameters shaping investment choices, the value of technologies which can be installed quickly and operated flexibly is increasingly appreciated. Investors are also managing risk by greater use of contracting, by acquiring retail businesses, and through mergers with natural gas suppliers. While liberalization was supposed to limit government intervention in the electricity market, volatile electricity prices have put pressure on governments to intervene and limit such prices. This study looks at several cases of volatile prices in IEA countries' electricity markets, and finds that while market prices can be a sufficient incentive for new investment in peak capacity, government intervention into the market to limit prices may undermine such investment

  6. Managing congestion and intermittent renewable generation in liberalized electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Kunz, Friedrich

    2013-02-27

    This dissertation focuses on selected aspects of network congestion arising in liberalized electricity markets and their management methods with a special weight placed on the integration of increased renewable generation in Europe and Germany. In a first step, the theoretical concepts of congestion management are introduced complemented by a review of current management regimes in selected countries. In the second step, the European approach of managing congestion on international as well as national transmission links is analyzed and the benefits of an integrated congestion management regime are quantified. It is concluded that benefits can be achieved by a closer cooperation of national transmission system operators (TSOs). Thirdly, the German congestion management regime is investigated and the impact of higher renewable generation up to 2020 on congestion management cost is determined. It is shown that a homogeneous and jointly development of generation and transmission infrastructure is a prerequisite for the application of congestion alleviation methods and once they diverge congestion management cost tend to increase substantially. Lastly, the impact of intermittent and uncertain wind generation on electricity markets is analyzed. A stochastic electricity market model is described, which replicates the daily subsequent clearing of reserve, day ahead, and intraday market typical for European countries, and numerical results are presented.

  7. Electricity pricing and load dispatching in deregulated electricity market

    International Nuclear Information System (INIS)

    Geerli; Niioka, S.; Yokoyama, R.

    2003-01-01

    A rapid move to a market-based electric power industry will significantly alter the structure of electricity pricing and system operation. In this paper, we consider a game of negotiation in the electricity market, involving electric utilities, independent power producers (IPPs) and large-scale customers. We analyze the two-level game strategies for the negotiation process between utilities, IPPs and customers. These have been previously recognized as a way to come up with a rational decision for competitive markets, in which players intend to maximize their own profits. The derived operation rules based on competition can be viewed as an extension of the conventional equal incremental cost method for the deregulated power system. The proposed approach was applied to several systems to verify its effectiveness. (Author)

  8. Predicting the Potential Market for Electric Vehicles

    DEFF Research Database (Denmark)

    Jensen, Anders Fjendbo; Cherchi, Elisabetta; Mabit, Stefan Lindhard

    2017-01-01

    diffusion models in marketing research use fairly simple demand models. In this paper we discuss the problem of predicting market shares for new products and suggest a method that combines advanced choice models with a diffusion model to take into account that new products often need time to gain......Forecasting the potential demand for electric vehicles is a challenging task. Because most studies for new technologies rely on stated preference (SP) data, market share predictions will reflect shares in the SP data and not in the real market. Moreover, typical disaggregate demand models...... are suitable to forecast demand in relatively stable markets, but show limitations in the case of innovations. When predicting the market for new products it is crucial to account for the role played by innovation and how it penetrates the new market over time through a diffusion process. However, typical...

  9. Electric energy restructuring in the European Union: Integration, subsidiarity and the challenge of harmonization

    International Nuclear Information System (INIS)

    Serralles, Roberto J.

    2006-01-01

    In 1996, the European Union (EU) instituted Directive 96/92/EC that aims to establish a competitive, secure and transparent EU-wide internal electric energy market. The process of electricity market restructuring in the EU is being guided primarily by the principle of subsidiarity. As an organizational concept, the principle of subsidiarity allows Member States to establish their own implementation strategies and methods as a means of achieving the EU-mandated goal of electric energy restructuring. Historically, the structure of the electric energy industry in place among the Member States exhibited widely disparate organizational and functional characteristics with regard to ownership, control and regulation. Under these varied and contrasting political and economic conditions, the goal of a EU-wide harmonized electric energy market becomes very challenging. In this paper, I describe the policy mechanisms and the market conditions mandated by the EU directive aimed at liberalizing the electric energy market. I then assess the role of political culture, historical resource endowment and geographical conditions in the utility restructuring strategies of some key Member States and its effects on the overall goals of a harmonized internal electric energy market. Finally, I argue that European electric energy restructuring must be understood within the context of the political and economic milieu that spawned the individual Member States' electric energy industry

  10. Electric energy restructuring in the European Union: integration, subsidiarity and the challenge of harmonization

    International Nuclear Information System (INIS)

    Serralles, R.J.

    2006-01-01

    In 1996, the European Union (EU) instituted Directive 96/92/EC that aims to establish a competitive, secure and transparent EU-wide internal electric energy market. The process of electricity market restructuring in the EU is being guided primarily by the principle of subsidiarity. As an organizational concept, the principle of subsidiarity allows Member States to establish their own implementation strategies and methods as a means of achieving the EU-mandated goal of electric energy restructuring. Historically, the structure of the electric energy industry in place among the Member States exhibited widely disparate organizational and functional characteristics with regard to ownership, control and regulation. Under these varied and contrasting political and economic conditions, the goal of a EU-wide harmonized electric energy market becomes very challenging. In this paper, I describe the policy mechanisms and the market conditions mandated by the EU directive aimed at liberalizing the electric energy market. I then assess the role of political culture, historical resource endowment and geographical conditions in the utility restructuring strategies of some key Member States and its effects on the overall goals of a harmonized internal electric energy market. Finally, I argue that European electric energy restructuring must be understood within the context of the political and economic milieu that spawned the individual Member States' electric energy industry. (author)

  11. Centre of the European gas market. The European Autumn Gas Conference

    International Nuclear Information System (INIS)

    Van Hasselt, F.; Van der Wal, W.; Ruinen, H.

    1998-01-01

    From the results of the 1997 European Autumn Gas Conference in Barcelona, Spain, it appears that the European gas industry is mainly focused on the liberalization of the European energy market. The main topic of the Conference was 'dealing with surplus'. A brief overview is given of the natural gas trade developments in the European countries. 1 ill., 1 tab. 2 ills

  12. Lithuanian way of reforms to electricity market

    International Nuclear Information System (INIS)

    Bacauskas, A.

    2002-01-01

    Lithuania has inherited a structure of the energy industry, which originally has been developed not for the country, as an independent state, but according to the provisions of the former USSR energy policy, covering energy demand of whole region, including the Baltic countries, Belarus and the Kaliningrad region of Russia. The Lithuanian power system is interconnected by high voltage power lines and operates in parallel with Latvian, Estonian, Russian and Belarus power systems. During twelve years of independence the power sector passed significant changes from a vertically integrated monopoly to some separate power companies and meets EU requirements to an internal electricity market. The main issues of reforms: transparency of costs, commercial relations in power sector, fulfilment of the Electricity Directive 96/92/EU. The Lithuanian electricity market is small and inefficient. Current reforms of a power sector are directed to create the common Baltic electricity market. (author)

  13. Electricity prices in the Finnish retail market

    International Nuclear Information System (INIS)

    Lehto, Eero

    2011-01-01

    This study focuses, firstly, on the pricing of electricity in the Finnish retail market. In particular, the impact of the ownership structure on prices is tested empirically. Secondly, the influence of low-cost electricity sources on retail prices is considered. The question about whether the average fuel costs rather than the wholesale price determine the retail prices is thus addressed. The supply side behaviour characterised may explain the passivity of client activity in the seemingly competitive Finnish market. - Research highlights: → Ownership has a strong impact on retail prices in the Finnish electricity market. → Locally owned companies' rates are 5-15 per cent lower than investor owned companies' rates. → Own low cost acquisition of electricity helps local firms to keep prices at low levels.

  14. A GLANCE AT THE EUROPEAN ENERGY MARKET LIBERALIZATION

    Directory of Open Access Journals (Sweden)

    Delia Vasilica Rotaru

    2013-03-01

    Full Text Available This paper offers a presentation on the liberalization process on the energy markets that started two decades ago and takes place across Europe in the attempt to create a single European energy market. Several benefits are expected following the deregulation process such as higher competition, market transparency, lower prices, increased efficiency and product development in the clients favour. Three very different energy markets are analyzed before and after the liberalization process – UK, Germany and France – a short insight on the current Romanian energy market is also offered. The aim of this paper is to provide a better understanding on liberalizing European energy markets.

  15. Quantifying multiscale inefficiency in electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Uritskaya, Olga Y. [Department of Economics, University of Calgary, Calgary, Alberta T2N 1N4, and Department of Economics and Management, St. Petersburg Polytechnic University, St. Petersburg (Russian Federation); Serletis, Apostolos [Department of Economics, University of Calgary, Calgary, Alberta (Canada)

    2008-11-15

    One of the basic features of efficient markets is the absence of correlations between price increments over any time scale leading to random walk-type behavior of prices. In this paper, we propose a new approach for measuring deviations from the efficient market state based on an analysis of scale-dependent fractal exponent characterizing correlations at different time scales. The approach is applied to two electricity markets, Alberta and Mid Columbia (Mid-C), as well as to the AECO Alberta natural gas market (for purposes of providing a comparison between storable and non-storable commodities). We show that price fluctuations in all studied markets are not efficient, with electricity prices exhibiting complex multiscale correlated behavior not captured by monofractal methods used in previous studies. (author)

  16. Quantifying multiscale inefficiency in electricity markets

    International Nuclear Information System (INIS)

    Uritskaya, Olga Y.; Serletis, Apostolos

    2008-01-01

    One of the basic features of efficient markets is the absence of correlations between price increments over any time scale leading to random walk-type behavior of prices. In this paper, we propose a new approach for measuring deviations from the efficient market state based on an analysis of scale-dependent fractal exponent characterizing correlations at different time scales. The approach is applied to two electricity markets, Alberta and Mid Columbia (Mid-C), as well as to the AECO Alberta natural gas market (for purposes of providing a comparison between storable and non-storable commodities). We show that price fluctuations in all studied markets are not efficient, with electricity prices exhibiting complex multiscale correlated behavior not captured by monofractal methods used in previous studies. (author)

  17. The French electricity policy facing European integration and environmental law

    International Nuclear Information System (INIS)

    Begue, M.C.

    2004-02-01

    The french electricity policy is traditionally defined by public authorities. The preference for nuclear power implies great risk and severe damage to the environment. These features of french electricity policy are however questioned by the increasing influence of european law and the (relatively) recent recognition of the environmental issues of such policy. This thesis intends to study the consequences of two 'new' tendencies that seem to be inevitable in the field of electricity policy: the decreasing role of national public authorities and the diffusion of the concept of sustainable development. The theoretical model which underlies the organization of commercial exchanges is replacing the traditional intervention of the State. regarding of this basic good. The adoption of legal rules to organize the electricity market has involved the development of many economic instruments. Those instruments aim at modifying the electricity policy in accordance with the principle of integration of environmental dimension in sectoral policies. The main object of our work is to analyse the consequences of these changes in the concept of public utility as well as in the importance given to environmental protection in the new forms of electricity policies. (author)

  18. Electric markets and services of the system

    International Nuclear Information System (INIS)

    Carbajo, A.

    2007-01-01

    Electricity cannot be stored in significant quantities and requires generation and demand be balanced instantly in order to control the frequency. This means that the electric system must be equipped with specific devices in order to ensure this dynamic balance. Of the services required by the electric system, some are mandatory for the generators, while others are voluntary, these last ones being those supplied under market schemes. On the other hand, the commitment of the Spanish electric system to incorporate a significant volume of renewable energy, due to its intermittent properties, demands that these adjustment services use a greater volume of this energy in order to ensure the reliability of the system at all times. Finally, securing the Iberian electric market implies that there might be variations in these services - not only in the volume but also in their characteristics. (Author)

  19. The surveillance of the electricity wholesale market and emission trading market

    International Nuclear Information System (INIS)

    Luedemann, Volker

    2015-01-01

    The Regulation on Wholesale Market Integrity and Transparency (REMIT) and the German Law on the Establishment of a Market Transparency Office for Wholesale Trade in Electricity and Gas (MTS-G) have fundamentally changed the surveillance of electricity wholesale trade in Germany. From now on the Federal Network Agency and the Federal Cartel Office will be jointly responsible for monitoring the electricity wholesale trade for suspicious market phenomena and abusive behaviour. The REMIT specifies that the electricity trade must be surveilled ''with due consideration to interactions'' with the emission trade system. However, occurrences observed in recent years have shown that the emission trading system is in need of reform. This has also been recognised and has prompted extensive corrective action by the regulatory authorities of the European Union. These changes have yet to be transposed into the national surveillance regimes. The present article explains why the new role accorded to the Federal Network Agency under the REMIT fails to eliminate the structural shortcomings of the old surveillance system. At least the decision to put the collection and evaluation of data exclusively in the hands of the market transparency office and the cooperation this will prompt between the supervisory authorities responsible will make the task of surveilling the energy wholesale trading market a lot easier for the authorities. The energy transition and its exigencies will yet lead to further changes in the market and its surveillance regime.

  20. Interactions between the German Electricity Spot Market and the Reserve Energy Market

    International Nuclear Information System (INIS)

    Graeber, Bernhardt

    2005-01-01

    Eight years after market opening, Germany has well established spot and future markets for electricity. Besides OTC and Internet broker platforms the main market place is the European Energy Exchange in Leipzig (EEX) with its spot and future market. Less known is the reserve energy market in Germany. The four German transmission system operators (TSOs) EnBW, EON, RWE and Vattenfall purchase network services on the reserve energy market. Products with specific technical requirements are primary, secondary and tertiary reserve. (Details about the technical requirements and typical means for providing the required services will be presented.) Each TSO organises a separate auction for these products - for primary and secondary reserve half-yearly, for tertiary reserve daily. Due to the technical requirements the liquidity on these markets is limited, but especially on the tertiary reserve market it is recently growing significantly due to new participants marketing several smaller municipal and industrial reserve power plants as combined bids which meet the 30 MW min. capacity requirement. Every power plant or interruptible load could not only be offered as capacity on the reserve market but could also be dispatched for the spot market. Therefore the developments of prices on these markets are not independent and opportunity costs against the spot market can be estimated for different type of plants bidding in the reserve market. Another interaction between reserve and spot market is caused by the balancing price system in Germany. Prices for balancing energy meeting deviations between load, trading balance and production of a market participant are based on quarter-hourly reserve energy costs encountered by the TSO. As unbiased load and production forecasts are not strictly enforced by the TSOs so far, part of the planned demand could be met with balancing energy if EEX spot market prices rise above expected balancing energy prices. This interrelationship has a

  1. Risk premiums in the German day-ahead Electricity Market

    International Nuclear Information System (INIS)

    Viehmann, Johannes

    2011-01-01

    This paper conducts an empirical analysis of risk premiums in the German day-ahead Electricity Wholesale Market. We compare hourly price data of the European Energy Exchange (EEX) auction and of the continuous over-the-counter (OTC) market which takes place prior to the EEX auction. Data provided by the Energy Exchange Austria (EXAA) has been used as a snapshot of the OTC market two hours prior to the EEX auction. Ex post analysis found market participants are willing to pay both significant positive and negative premiums for hourly contracts. The largest positive premiums were paid for high demand evening peak hours on weekdays during winter months. By contrast, night hours on weekends featuring lowest demand levels display negative premiums. Additionally, ex ante analysis found a strong positive correlation between the expected tightness of the system and positive premiums. For this purpose, a tightness factor has been introduced that includes expectations of fundamental factors such as power plant availability, wind power production and demand. Hence, findings by can be supported that power traders in liberalised markets behave like risk-averse rational economic agents. - Research highlights: →Analysis of hourly risk premiums in the German day-ahead Electricity Wholesale Market. →Market participants are willing to pay both significant positive and negative premiums for hourly contracts. →A strong correlation exists between the expected tightness of the power system and premiums.

  2. Design and analysis of electricity markets

    Science.gov (United States)

    Sioshansi, Ramteen Mehr

    Restructured competitive electricity markets rely on designing market-based mechanisms which can efficiently coordinate the power system and minimize the exercise of market power. This dissertation is a series of essays which develop and analyze models of restructured electricity markets. Chapter 2 studies the incentive properties of a co-optimized market for energy and reserves that pays reserved generators their implied opportunity cost---which is the difference between their stated energy cost and the market-clearing price for energy. By analyzing the market as a competitive direct revelation mechanism we examine the properties of efficient equilibria and demonstrate that generators have incentives to shade their stated costs below actual costs. We further demonstrate that the expected energy payments of our mechanism is less than that in a disjoint market for energy only. Chapter 3 is an empirical validation of a supply function equilibrium (SFE) model. By comparing theoretically optimal supply functions and actual generation offers into the Texas spot balancing market, we show the SFE to fit the actual behavior of the largest generators in market. This not only serves to validate the model, but also demonstrates the extent to which firms exercise market power. Chapters 4 and 5 examine equity, incentive, and efficiency issues in the design of non-convex commitment auctions. We demonstrate that different near-optimal solutions to a central unit commitment problem which have similar-sized optimality gaps will generally yield vastly different energy prices and payoffs to individual generators. Although solving the mixed integer program to optimality will overcome such issues, we show that this relies on achieving optimality of the commitment---which may not be tractable for large-scale problems within the allotted timeframe. We then simulate and compare a competitive benchmark for a market with centralized and self commitment in order to bound the efficiency

  3. Market integration of local energy systems: Is local energy management compatible with European regulation for retail competition?

    NARCIS (Netherlands)

    Eid, C.; Bollinger, L.A.; Koirala, B.P.; Scholten, D.J.; Facchinetti, E.; Lilliestam, J.; Hakvoort, R.A.

    2016-01-01

    The growing penetration of distributed energy resources is opening up opportunities for local energy management (LEM) – the coordination of decentralized energy supply, storage, transport, conversion and consumption within a given geographical area. Because European electricity market liberalization

  4. Energy subsidies in California's electricity market deregulation

    International Nuclear Information System (INIS)

    Ritschel, Alexander; Smestad, G.P.

    2003-01-01

    Deregulation and re-regulation of California's electricity market not only failed in terms of anticipated cost reductions, improved customer service and higher competition, it also led to the introduction of various additional energy subsidies. This paper analyzes California's electricity market deregulation process from a subsidy viewpoint. Under deregulation in California, investor-owned utilities were not allowed to pass their energy procurement costs fully on to their customers, and therefore subsequently, and inevitably, ran into severe financial problems. Such retail price regulation is an energy subsidy that is both economically and environmentally unfavorable, because it veils true price signals to electricity consumers and, in this way, discourages energy conservation. Other policies implemented in California that represent perverse energy subsidies are the purchase of power by the state of California, the suspension of retail competition, and the potential misuse of money from the recovery of stranded costs. Many interventions implemented by the state to smooth out the impacts of the energy crisis insulated electricity consumers from market realities, supported the existing structure of California's electricity market, which is predominantly based on fossil fuels, and suppressed market incentives to improve energy conservation

  5. Time-dependent correlations in electricity markets

    International Nuclear Information System (INIS)

    Alvarez-Ramirez, Jose; Escarela-Perez, Rafael

    2010-01-01

    In the last years, many electricity markets were subjected to deregulated operation where prices are set by the action of market participants. In this form, producers and consumers rely on demand and price forecasts to decide their bidding strategies, allocate assets, negotiate bilateral contracts, hedge risks, and plan facility investments. A basic feature of efficient market hypothesis is the absence of correlations between price increments over any time scale leading to random walk-type behavior of prices, so arbitrage is not possible. However, recent studies have suggested that this is not the case and correlations are present in the behavior of diverse electricity markets. In this paper, a temporal quantification of electricity market correlations is made by means of detrended fluctuation and Allan analyses. The approach is applied to two Canadian electricity markets, Ontario and Alberta. The results show the existence of correlations in both demand and prices, exhibiting complex time-dependent behavior with lower correlations in winter while higher in summer. Relatively steady annual cycles in demand but unstable cycles in prices are detected. On the other hand, the more significant nonlinear effects (measured in terms of a multifractality index) are found for winter months, while the converse behavior is displayed during the summer period. In terms of forecasting models, our results suggest that nonlinear recursive models (e.g., feedback NNs) should be used for accurate day-ahead price estimation. In contrast, linear models can suffice for demand forecasting purposes. (author)

  6. Organization and regulation of energy markets in the European Union

    International Nuclear Information System (INIS)

    Vasconcelos, J.

    2002-01-01

    The energy regulation policy and the organization of power matters in the European Union as well as the energy markets are discussed in this Keynote Paper. The Council of European Energy Regulators is introduced. The goal of the European Union regarding energy generation and consumption in the future are analyzed. (R.P.)

  7. The European gas market from a Belgian point of view

    International Nuclear Information System (INIS)

    Bouma, J.W.J.

    1993-01-01

    The European gas distribution industry will be faced with real challenges during the coming ten years. Additional import of natural gas from non-European Community countries will be required in view of the growing demand and the concomitant decrease in gas production in the European Community. This implies that facilities for the long-distance transport of gas will have to be built and that considerable investments are required. It is argued that the recommendation for the liberalization of the gas market by the Commission of the European Communities is unsuited to face future developments of the European gas market. (A.S.)

  8. Green electricity externalities: Forest biomass in an Atlantic European Region

    International Nuclear Information System (INIS)

    Solino, M.; Prada, A.; Vazquez, M.X.

    2009-01-01

    Renewable energy sources are expected to represent a growing proportion of the primary energy sources for the production of electricity. Environmental and social reasons support this tendency. European and Spanish energy plans assign a role of primary importance to biomass in general and, especially, to forest biomass for the period up to 2010. This paper reviews, organises and quantifies the potentials and values of this renewable resource in the foremost Spanish Region in terms of silviculture. The non-market externalities (environmental, economic and social) are classified, and some of them are quantified to present a synthesis of the benefits of a partial substitution of fossil fuels by forest biomass for electricity generation. (author)

  9. Measuring market performance in restructured electricity markets: An empirical analysis of the PJM energy market

    Science.gov (United States)

    Tucker, Russell Jay

    2002-09-01

    Today the electric industry in the U.S. is transitioning to competitive markets for wholesale electricity. Independent system operators (ISOs) now manage broad regional markets for electrical energy in several areas of the U.S. A recent rulemaking by the Federal Energy Regulatory Commission (FERC) encourages the development of regional transmission organizations (RTOs) and restructured competitive wholesale electricity markets nationwide. To date, the transition to competitive wholesale markets has not been easy. The increased reliance on market forces coupled with unusually high electricity demand for some periods have created conditions amenable to market power abuse in many regions throughout the U.S. In the summer of 1999, hot and humid summer conditions in Pennsylvania, New Jersey, Maryland, Delaware, and the District of Columbia pushed peak demand in the PJM Interconnection to record levels. These demand conditions coincided with the introduction of market-based pricing in the wholesale electricity market. Prices for electricity increased on average by 55 percent, and reached the $1,000/MWh range. This study examines the extent to which generator market power raised prices above competitive levels in the PJM Interconnection during the summer of 1999. It simulates hourly market-clearing prices assuming competitive market behavior and compares these prices with observed market prices in computing price markups over the April 1-August 31, 1999 period. The results of the simulation analysis are supported with an examination of actual generator bid data of incumbent generators. Price markups averaged 14.7 percent above expected marginal cost over the 5-month period for all non-transmission-constrained hours. The evidence presented suggests that the June and July monthly markups were strongly influenced by generator market power as price inelastic peak demand approached the electricity generation capacity constraint of the market. While this analysis of the

  10. Convergence of the gas and electricity market - Implications for the traditional players

    International Nuclear Information System (INIS)

    Waffel, H. Dieter

    1999-01-01

    This presentation begins with an overview of PreussenElektra, a company that generates electricity from a variety of energy sources, including gas. It then describes developments in the European electricity market and finds striking similarities between that market and the electricity market of the USA as of 1992. Then issues concerning convergence of gas and electricity are considered. Experience from the USA shows that experience gained during gas deregulation could be used in electricity deregulation. Many natural synergies exist between the electric and gas markets, which could speed convergence. One of the first signals of convergence will be the formation of strategic alliances between gas and electricity companies. There are many open questions to consider as deregulation is implemented and convergence occurs. Convergence in Europe promises to be a near-term growth opportunity for advocates and consultants. Market dynamics promise that there will be winners and losers. Incumbency is an advantage, not an assurance of success

  11. Convergence of the gas and electricity market - Implications for the traditional players

    Energy Technology Data Exchange (ETDEWEB)

    Waffel, H. Dieter

    1999-07-01

    This presentation begins with an overview of PreussenElektra, a company that generates electricity from a variety of energy sources, including gas. It then describes developments in the European electricity market and finds striking similarities between that market and the electricity market of the USA as of 1992. Then issues concerning convergence of gas and electricity are considered. Experience from the USA shows that experience gained during gas deregulation could be used in electricity deregulation. Many natural synergies exist between the electric and gas markets, which could speed convergence. One of the first signals of convergence will be the formation of strategic alliances between gas and electricity companies. There are many open questions to consider as deregulation is implemented and convergence occurs. Convergence in Europe promises to be a near-term growth opportunity for advocates and consultants. Market dynamics promise that there will be winners and losers. Incumbency is an advantage, not an assurance of success.

  12. Convergence of the gas and electricity markets - Implications for the traditional players

    Energy Technology Data Exchange (ETDEWEB)

    Waffel, H. Dieter

    1999-07-01

    This presentation begins with an overview of PreussenElektra, a company that generates electricity from a variety of energy sources, including gas. It then describes developments in the European electricity market and finds striking similarities between that market and the electricity market of the USA as of 1992. Then issues concerning convergence of gas and electricity are considered. Experience from the USA shows that experience gained during gas deregulation could be used in electricity deregulation. Many natural synergies exist between the electric and gas markets, which could speed convergence. One of the first signals of convergence will be the formation of strategic alliances between gas and electricity companies. There are many open questions to consider as deregulation is implemented and convergence occurs. Convergence in Europe promises to be a near-term growth opportunity for advocates and consultants. Market dynamics promise that there will be winners and losers. Incumbency is an advantage, not an assurance of success.

  13. Electrical connections: Iran's power market

    International Nuclear Information System (INIS)

    Anon

    2000-01-01

    Attention is drawn to business opportunities in Iran, a middle-eastern country that is still in the process of rebuilding its power generating capacity in the wake of its eight-year-long war with Iraq. In reviewing opportunities to tap into this market , the article lists a number of factors that must be considered before rushing to follow the current. One of these factors is the U.S. trade embargo against Iran. Under this embargo Canada does not allow the re-export of goods of U.S. origin from Canada to Iran. The complex character of doing business in Iran by foreign companies must also be considered. Nevertheless,, those who are well prepared to face the restrictions and are willing to take the time to learn about the 'Iranian way' may receive considerable help from the Export Development Corporation, including financing and insurance on a case-by-case basis. The Canadian government's program for export market development also offers direct financial assistance to Canadian exporters in an effort to reduce the risk of entering a foreign market. The Canadian Embassy in Tehran can also provide useful advice and assistance. There is also http://exportsource.gc.ca., Team Canada Inc.'s on-line resource that may be consulted for export information

  14. Essays on pricing electricity and electricity derivatives in deregulated markets

    Science.gov (United States)

    Popova, Julia

    2008-10-01

    This dissertation is composed of four essays on the behavior of wholesale electricity prices and their derivatives. The first essay provides an empirical model that takes into account the spatial features of a transmission network on the electricity market. The spatial structure of the transmission grid plays a key role in determining electricity prices, but it has not been incorporated into previous empirical models. The econometric model in this essay incorporates a simple representation of the transmission system into a spatial panel data model of electricity prices, and also accounts for the effect of dynamic transmission system constraints on electricity market integration. Empirical results using PJM data confirm the existence of spatial patterns in electricity prices and show that spatial correlation diminishes as transmission lines become more congested. The second essay develops and empirically tests a model of the influence of natural gas storage inventories on the electricity forward premium. I link a model of the effect of gas storage constraints on the higher moments of the distribution of electricity prices to a model of the effect of those moments on the forward premium. Empirical results using PJM data support the model's predictions that gas storage inventories sharply reduce the electricity forward premium when demand for electricity is high and space-heating demand for gas is low. The third essay examines the efficiency of PJM electricity markets. A market is efficient if prices reflect all relevant information, so that prices follow a random walk. The hypothesis of random walk is examined using empirical tests, including the Portmanteau, Augmented Dickey-Fuller, KPSS, and multiple variance ratio tests. The results are mixed though evidence of some level of market efficiency is found. The last essay investigates the possibility that previous researchers have drawn spurious conclusions based on classical unit root tests incorrectly applied to

  15. Towards electricity markets accommodating uncertain offers

    DEFF Research Database (Denmark)

    Papakonstantinou, Athanasios; Pinson, Pierre

    2014-01-01

    formulation of an electricity market, based on the Continuous Ranked Probability Score (CRPS) reduces the impact of poor estimates for both the stochastic producers and the system operator. We introduce a simulation setting which first demonstrates that impact and then proceed to illustrate the main features......The use of renewable energy sources of energy and in particular wind and solar has been on the rise over the last decades with plans to increase it even more. Such developments introduce significant challenges in existing power systems and can result in high electricity prices and costly...... infrastructure investments. In this paper we propose a new electricity market mechanism whereby the uncertain and dynamic nature of wind power and other stochastic sources is embedded in the market mechanism itself, by modelling producers’ bids as probabilistic estimates. An extension on the bilevel programming...

  16. The reform of the Swedish electricity market

    International Nuclear Information System (INIS)

    Petsala, B.

    1995-01-01

    The objective of the ongoing reform of deregulation of the electricity market in Sweden is to create and improve the prerequisites for more efficient use of the generation and distribution, thus bringing about a more efficient price building. Similar reforms take place in the other Nordic countries. As a result of these changes the possibilities for international trade in electricity increases considerably. Tendencies towards concentration of production and distribution as well as increased vertical integration make it important for the State to monitor the development and if necessary suggest measures to counteract possible undesired effects. The national character of the former electricity market does no longer constitute a restriction to trade and the power companies already operate in each other's market. (author). 2 figs., 4 tabs., 6 refs

  17. Liberalization of electricity markets and energy security

    International Nuclear Information System (INIS)

    Yajima, Masayuki

    2004-01-01

    Liberalization of electricity markets begun in England in 1990 and became the trends of the times. Its effects on the energy security and atomic power generation are discussed. On the effects on energy security, change of construction of fuel of power generation, decrease of fuel feed by high efficiency of power generation, decrease of fuel stock by pressure of cost-cutting, increase of import rate of electricity, increase of power consumption with decrease of power cost, flexibility of supply contract, diversification of service, international cooperation on energy security and mutual dependence relation by international investment are discussed. On the effects of liberalization on the electricity markets, characteristics of nuclear power generation, risk of investment, effects of introduction of competition on development of the existing and new nuclear power generation, relation between development of nuclear power generation and market failure and what the government should do for development of nuclear power generation are discussed. (S.Y.)

  18. Entomopathogenic nematodes in the European biocontrol market.

    Science.gov (United States)

    Ehlers, R U

    2003-01-01

    In Europe total revenues in the biocontrol market have reached approximately 200 million Euros. The sector with the highest turn-over is the market for beneficial invertebrates with a 55% share, followed by microbial agents with approximately 25%. Annual growth rates of up to 20% have been estimated. Besides microbial plant protection products that are currently in the process of re-registration, several microbial products have been registered or are in the process of registration, following the EU directive 91/414. Entomopathogenic nematodes (EPN) are exceptionally safe biocontrol agents. Until today, they are exempted from registration in most European countries, the reason why SMEs were able to offer economically reasonable nematode-based products. The development of technology for mass production in liquid media significantly reduced the product costs and accelerated the introduction of nematode products in tree nurseries, ornamentals, strawberries, mushrooms, citrus and turf. Progress in storage and formulation technology has resulted in high quality products which are more resistant to environmental extremes occurring during transportation to the user. The cooperation between science, industry and extension within the EU COST Action 819 has supported the development of quality control methods. Today four companies produce EPN in liquid culture, offering 8 different nematode species. Problems with soil insects are increasing. Grubs, like Melolontha melolontha and other scarabaeidae cause damage in orchards and turf. Since the introduction of the Western Corn Rootworm Diabrotica virgifera into Serbia in 1992, this pests as spread all over the Balkan Region and has reached Italy, France and Austria. These soil insect pests are potential targets for EPN. The development of insecticide resistance has opened another sector for EPN. Novel adjuvants used to improve formulation of EPN have enabled the foliar application against Western Flower Thrips and Plutella

  19. The Greek Electricity Market Reforms: Political and Regulatory Considerations

    International Nuclear Information System (INIS)

    Danias, Nikolaos; Kim Swales, John; McGregor, Peter

    2013-01-01

    The paper tracks the evolution of the Greek electricity market since the beginning of the liberalization process. Its progress is benchmarked against the criteria suggested by Littlechild (2006b). The Littlechild framework highlights key remaining deficiencies in the stances and policies adopted which need to be resolved in order for liberalization to proceed successfully. The focus is on the agendas of the Greek government, other domestic political forces and the European Union. A central requirement is the clear commitment to liberalization by the Greek government. In particular the government needs to give up political control over the previous vertically integrated, state-controlled electricity firm, Public Power Company (PPC), and allow more decision making powers and genuine independence to the market regulator. Liberalization is rendered more difficult by the present financial and economic crisis in Greece. - Highlights: • Greek electricity market liberalization is benchmarked against the Littlechild standard electricity market reform model. • Although the majority of the model requirements are met, liberalization in Greece is only partially successful. • Some elements of liberalization are qualitatively more significant than others. • More fundamental political economy issues need to be addressed in order for the liberalization to progress. • Financial crisis in Greece adds extra challenges

  20. An analysis of the South East Europe electricity market

    International Nuclear Information System (INIS)

    Majstrovic, G.; Tot, M.; Medic, I.

    2006-01-01

    Until October 2004, the South East European (SEE) power system had never been connected in unified parallel operation. For the first time in history, all of continental Europe became a single synchronous electricity area with 450 million people in 22 countries. At the Union for the Co-ordination of Transmission of Electricity (UCTE), regional countries in the SEE agreed to create a stable common regulatory and market framework capable of attracting investment in gas networks, power generation and transmission networks, so that all countries would have access to the stable and continuous gas and electricity supply that is essential for economic development and social stability. This paper provided an overview of the electricity market in the SEE and discussed the advantages and disadvantages of the regional market. A brief description of each relevant country in the context of power issues was presented. It also provided some results of a long term generation and transmission development planning Geographic Information system study for the SEE region and analysed the influence on regional security of supply. In this regard, investment opportunities were identified. It was concluded that the main disadvantages in regional energy market establishing include differences in levels of economy; production and consumption structure; energy prices; purchasing power parity; energy sector organization; transmission bottlenecks; power plant aging, low efficiency and problems in environmental protection. The main advantages should cover lower total development expense and system operation as well as higher supply security. 4 tabs., 3 figs., 8 refs

  1. Pan-European management of electricity portfolios: Risks and opportunities of contract bundling

    International Nuclear Information System (INIS)

    Gampert, Markus; Madlener, Reinhard

    2011-01-01

    Due to the liberalization of energy markets in the European Union, today's European utilities not only focus on electricity supply, but also offer exchange-traded 'structured products' or portfolio management for unbundling financial and physical risk positions. Many utilities are only able to provide these services in their domestic markets. In a globalized economy, the need for a centrally organized pan-European portfolio management has arisen, as it allows a simplified commodity sourcing in combination with an optimized risk management. In this paper, we examine the challenges to be overcome for establishing a European-wide bundling of electricity contracts. For this purpose, a case study based on the business perspective of RWE Supply and Trading in Central and Eastern Europe is carried out. In a first step, we analyze general requirements for a pan-European bundling of electricity contracts. Then, RWE's situation in Europe is examined, based on which we finally propose a concept to meet customer demands in Central and Eastern Europe. - Research highlights: → Analysis of electricity market liberalization in Central and Eastern Europe. → Identification of requirements and problems for pan-European bundling of contracts. → Case study based on RWE Supply and Trading perspective in Central and Eastern Europe. → Model development for pan-European unbundling of financial/physical risk positions.

  2. Spanish and Portuguese electric market in the context of UE

    International Nuclear Information System (INIS)

    Quinto, J. de; Villafruela, L.

    2007-01-01

    In accordance to the Unique Act and other EU legislation related to the achievement of a single market for goods and services, the EU Commission has promoted a whole internal electricity and gas market. Due to the specific difficulties to reach this objective in the electricity and gas case, the EU strategy changed into a progressive step process, in which the final objective should be reached by the progressive integration of different neighbour national markets. Anyway, this is not easy because there are differences related to national interests and because the harmonization of different regulations is so complex. The creation of a supranational electricity market in the Iberian mainland (MIBEL) can be considered as a piece of this European strategy and a way to improve competition both in Spain and Portugal at least by an increase of the market geographical scale.MIBEL process started in November 2001, but finally is working since July 2006. But the process is not finish yet: it is still necessary to develop some relevant regulatory aspects. (Author) 15 refs

  3. Dynamics of the Croatian electricity market opening

    International Nuclear Information System (INIS)

    Pesut, D.; Zeljko, M.; Zutobradic, S.

    2003-01-01

    Customer eligibility is regulated by the Law on Electricity Market and its Article 23 (Official Gazette 79/01). Eligibility is understood as a possible supplier choice. To ensure the eligible status, annual demand should exceed 40 GWh. The category of customers that has gained the eligibility status based on the Law on Electricity Market makes out a total of around 7 percent of the annual electric energy consumption in Croatia. Thus, it can be said that electricity market openness in Croatia lies somewhat below 10 percent. According to the already mentioned Article 23, paragraph 4, the Government may determine annual demand threshold lowering as a condition to grant the eligibility status. According to the Law on Gas Market from 2001, the category of eligible gas customers in Croatia includes all electricity generators who use gas, regardless of the annual gas consumption, and other customers whose annual consumption exceeds 100 million m3. In 2002 there were seven such customers and they participated with 1,374,160,000 m3, i.e. 51 percent in the total gas consumption. As INA is the sole natural gas producer in Croatia with a long-term contract on the supply line lease for the transportation of Russian gas, it is also the only supplier of natural gas. Therefore, in 2002 each eligible customer bought gas from INA. Issues related to this field are: what kind of dynamics should one proceed with toward further energy market opening in Croatia? How large is this share of electricity, i.e. gas consumption in Croatia? What are the prerequisites, both organisational and technical, for this kind of market opening? (author)

  4. New institutional analysis of European electric power reforms

    International Nuclear Information System (INIS)

    Perez, Yannick

    2002-01-01

    This research thesis reports a comparative analysis of reforms of the electric power sector implemented in European countries. In the first part, the authors proposes a presentation of the theoretical framework adopted for this analysis which is notably based on the New Institutional Economy approach. He also proposes an approach to the electric power industry based on the Transaction Cost Theory, and presents an overview of the various European reforms in the field of electricity, and of still unresolved problems which emerged after the creation of different power markets. The next part addresses an assessment of the attractive and desirable characters of reforms which have been implemented in the United Kingdom, in Germany and in Spain, with an attempt to identify winners and losers, and to classify these reforms. In the third part, the author defines a framework for the analysis of the feasibility of reforms which combine institutional and industrial dimensions, notably by reference to Noll and Williamson works. In the last part, the author sheds a new light on the concept of credibility. He introduces the conventional arbitrage of the Transaction Cost Theory between commitment stability and flexibility to generate uncertainty. He notably shows that the main problem in centralised institutional environments, is to guarantee the stability of commitments in front of opportunism, whereas in decentralised institutional environments, the main problem is to produce flexibility to manage uncertainty [fr

  5. European electricity grid. Status and perspective

    International Nuclear Information System (INIS)

    Maillard, Dominique

    2010-01-01

    There is no doubt about the need to expand and modernize the European electricity grid, especially in order to allow renewable energies to be fed stochastically into existing systems. As it is hardly possible at the present time and also in the near future to store electricity on a major scale and at adequate prices, electricity must be transmitted from the point of generation to the point of consumption directly and in real time. The development of grid systems, including cross-border transmission systems, is still behind expectations. This is not due to a shortage of projects or a lack of interest on the part of grid operators; the necessary political support is available as well, and investments at present are covered by the feed tariffs. The problem is the lack of acceptance. It is difficult to obtain new permits or commission new grids. This problem of the licensing authorities often results in considerable delays. Consequently, it is up to the grid operators to handle this situation and promote new, intelligent grid systems in an effort to achieve acceptance of a technical-scale infrastructure. This includes transparency in grid expansion, exchange with the public in order to reach mutual understanding and trust and also find compromises as well as the willingness to discuss various approaches to solutions (underground routing, upgrading of existing grid systems, smart systems, and intelligent designs) so as to optimize the use of the existing infrastructure. (orig.)

  6. European bond markets: do illiquidity and concentration aggravate price shocks?

    NARCIS (Netherlands)

    Boermans, M.A.; Frost, Jon; Steins Bisschop, Sophie

    2016-01-01

    We study the effects of market liquidity and ownership concentration of European bonds on price volatility during periods of market stress. Specifically, using security-by-security data from euro area investors we examine if market illiquidity and concentrated holdings explain the large price shocks

  7. The European gaseous market deregulation and its consequences for Russia

    International Nuclear Information System (INIS)

    Finon, D.; Locatelli, C.

    2002-07-01

    Russia, the first world producer of gas in 2001 is also the main producer in the european gas market. In this framework the evolution of its gas exportations market is a major stake for the russian gas industry and for the country economy. The consequences of this gas market deregulation are analyzed in this document. (A.L.B.)

  8. Demand response in Indian electricity market

    International Nuclear Information System (INIS)

    Siddiqui, Md Zakaria; Maere d'Aertrycke, Gauthier de; Smeers, Yves

    2012-01-01

    This paper outlines a methodology for implementing cost of service regulation in retail market for electricity in India when wholesale market is liberalised and operates through an hourly spot market. As in a developing country context political considerations make tariff levels more important than supply security, satisfying the earmarked level of demand takes a back seat. Retail market regulators are often forced by politicians to keep the retail tariff at suboptimal level. This imposes budget constraint on distribution companies to procure electricity that it requires to meet the earmarked level of demand. This is the way demand response is introduced in the system and has its impact on spot market prices. We model such a situation of not being able to serve the earmarked demand as disutility to the regulator which has to be minimised and we compute associated equilibrium. This results in systematic mechanism for cutting loads. We find that even a small cut in ability of the distribution companies to procure electricity from the spot market has profound impact on the prices in the spot market. - Highlights: ► Modelling the impact of retail tariff in different states on spot prices of electricity in India. ► Retail tariffs are usually fixed below appropriate levels by states due to political reasons. ► Due to revenue constraint distribution utility withdraws demand from spot market in peak hours. ► This adversely affects the scarcity rent of generators and subsequently future investment. ► We show possibility of strategic behaviour among state level regulators in setting retail tariff.

  9. Surveillance report 2015-2016. Functioning of the wholesale electricity, CO_2 and natural gas markets

    International Nuclear Information System (INIS)

    2016-01-01

    After a presentation of some key figures regarding the electric power and natural gas markets, this reports, illustrated by many data tables, discusses the integration of wholesale market surveillance in the European system: a complete and operational framework, constitution of a European register of participants, data reporting at the European level, link with financial regulation, and surveillance of wholesale agents. In the second part, it gives an overview of the context of the energy markets: drop in raw material prices, temperatures above normal with a particularly mild winter, sharp drop in the price of emission allowances. The third section proposes an analysis of wholesale electricity markets: fundamentals (evolutions of production and consumption, of production sources, D-7 nuclear availability), wholesale prices, major growth in exchanged volumes. The last section addresses wholesale natural gas markets: review of the gas system (evolution of demand and supply), evolution of gas prices, evolution of trading (global deliveries, spot and forward market)

  10. Marketing wholesale electricity in British Columbia

    Energy Technology Data Exchange (ETDEWEB)

    Moghadam, B. [Powerex, Vancouver, BC (Canada)

    2002-03-14

    An open access wholesale transmission tariff (WTS) has been in place in British Columbia since 1997, and wholesale electricity can be sold to wholesale purchasers by independent producers located within the province. Customers range from municipalities to British Columbia Hydro (BC Hydro), to Powerex, to UtiliCorp Networks Corporation (UNC). Provided that the necessary approvals and transmission services have been acquired, the energy may be transmitted anywhere in Canada or the United States. The generation and sale of electricity within British Columbia and the United States is subject to government and regulatory approvals. Several buyers and sellers that come together to trade a product are part of a hub. The largest such hub in the Pacific Northwest is called the Mid-Columbia (Mid-C) hub in Washington. The commodity is traded in 25 MW standard blocks. The credit requirements of the purchaser must be satisfied by the generating party. BC Hydro wholesale transmission service can be purchased by any wholesale power marketer or generator to transmit the power to market. It is imperative that scheduling personnel be available at all times. The Western System Coordinating Council (WSCC) insists that an operating reserve of 5 per cent hydro generation and 7 per cent thermal generation to support the electrical system in the face of an emergency be available for the electricity marketed through the hub. Powerex has been successful since 1988 in the marketing of electricity throughout the WSCC. An example was provided to help make the rules a bit easier to comprehend. refs.

  11. Marketing wholesale electricity in British Columbia

    International Nuclear Information System (INIS)

    Moghadam, B.

    2002-01-01

    An open access wholesale transmission tariff (WTS) has been in place in British Columbia since 1997, and wholesale electricity can be sold to wholesale purchasers by independent producers located within the province. Customers range from municipalities to British Columbia Hydro (BC Hydro), to Powerex, to UtiliCorp Networks Corporation (UNC). Provided that the necessary approvals and transmission services have been acquired, the energy may be transmitted anywhere in Canada or the United States. The generation and sale of electricity within British Columbia and the United States is subject to government and regulatory approvals. Several buyers and sellers that come together to trade a product are part of a hub. The largest such hub in the Pacific Northwest is called the Mid-Columbia (Mid-C) hub in Washington. The commodity is traded in 25 MW standard blocks. The credit requirements of the purchaser must be satisfied by the generating party. BC Hydro wholesale transmission service can be purchased by any wholesale power marketer or generator to transmit the power to market. It is imperative that scheduling personnel be available at all times. The Western System Coordinating Council (WSCC) insists that an operating reserve of 5 per cent hydro generation and 7 per cent thermal generation to support the electrical system in the face of an emergency be available for the electricity marketed through the hub. Powerex has been successful since 1988 in the marketing of electricity throughout the WSCC. An example was provided to help make the rules a bit easier to comprehend. refs

  12. How to Organize Electricity Savings in a Liberalized Electricity Market

    DEFF Research Database (Denmark)

    Nørgaard, Jørgen

    1998-01-01

    The basic idea of Integrated Ressource Planning is described and it is demonstrated how this is in conflict with the sub-optimizing necessary in a liberalized market. Afterwards are outlined how the measuring of savings energy consumption constitutes a fundamental problem. Finally are dicussed...... the future actors in the electricity sector and their roles in implementing electricity savings, followed by some proposals for an energy policy....

  13. The electricity market reinvention by regional renewal

    OpenAIRE

    Fontaine, Sebastian

    2016-01-01

    Just one hundred years ago, electricity was classified as a luxury good. Since renewable energies entered the German market 25 years ago, they slowly started to change some fundamental conditions. The ubiquity of electrical devices in our daily life is not something we think about anymore in the industrialised world. It has become as normal as breathing. Yet unlike air, power has to be obtained and distributed. The constant availability of current is therefore not a given thing, but something...

  14. Management and Marketing Elements in Maritime Cruises Industry. European Cruise Market

    Directory of Open Access Journals (Sweden)

    Romeo Boşneagu

    2015-05-01

    Full Text Available European cruises market has a major impact on all aspects of maritime industry: boarding ports, ports of call, shipbuilding, ship maintenance, supplies, sales and marketing, ship crews and administrative facilities. While in 2013, fiscal and economic conditions in Europe have continued to have a constraint to increasing demand for cruises, the number of passengers, Europeans or visitors of European ports, has grown moderately. For the next years, a higher growth of Europena market cruises is expected.

  15. Market power and technological bias in electricity generation markets

    International Nuclear Information System (INIS)

    Twomey, Paul; Neuhoff, Karsten

    2005-01-01

    It is difficult or very costly to avoid all market power in electricity markets. A recurring response is that a limited amount of market power is accepted with the justification that it is necessary to produce revenues to cover some of the fixed costs. It is assumed that all market participants benefit equally from the increased prices. However, this assumption is not satisfied if different production technologies are used. We assess the case of a generation mix of conventional generation and intermittent generation with exogenously varying production levels. If all output is sold in the spot market, then intermittent generation benefits less from market power than conventional generation. If forward contracts or option contracts are signed, then market power might be reduced but the bias against returns to intermittent generators persists. Thus allowing some level of market power as a means of encouraging investment in new generation may result in a bias against intermittent technologies or increase the costs of strategic deployment to achieve renewable quotas. (Author)

  16. Correlations and clustering in wholesale electricity markets

    Science.gov (United States)

    Cui, Tianyu; Caravelli, Francesco; Ududec, Cozmin

    2018-02-01

    We study the structure of locational marginal prices in day-ahead and real-time wholesale electricity markets. In particular, we consider the case of two North American markets and show that the price correlations contain information on the locational structure of the grid. We study various clustering methods and introduce a type of correlation function based on event synchronization for spiky time series, and another based on string correlations of location names provided by the markets. This allows us to reconstruct aspects of the locational structure of the grid.

  17. Empowering Customer Choice in Electricity Markets

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    Timely and effective deployment of demand response could greatly increase power system flexibility, electricity security and market efficiency. Considerable progress has been made in recent years to harness demand response. However, most of this potential remains to be developed. The paper draws from IEA experience to identify barriers to demand response, and possible enablers that can encourage more timely and effective demand response including cost reflective pricing, retail market reform, and improved load control and metering equipment. Governments have a key role to play in developing and implementing the policy, legal, regulatory and market frameworks needed to empower customer choice and accelerate the development and deployment of cost-effective demand response.

  18. Correlations and clustering in wholesale electricity markets

    International Nuclear Information System (INIS)

    Cui, Tianyu; Caravelli, Francesco; Ududec, Cozmin

    2017-01-01

    We study the structure of locational marginal prices in day-ahead and real-time wholesale electricity markets. In particular, we consider the case of two North American markets and show that the price correlations contain information on the locational structure of the grid. We study various clustering methods and introduce a type of correlation function based on event synchronization for spiky time series, and another based on string correlations of location names provided by the markets. As a result, this allows us to reconstruct aspects of the locational structure of the grid.

  19. Competition in decentralized electricity markets: Three papers on electricity auctions

    Science.gov (United States)

    Harbord, David William Cameron

    This thesis consists of three self-contained papers on the analysis of electricity auctions written over a period of twelve years. The first paper models price competition in a decentralized wholesale market for electricity as a first-price, sealed-bid, multi-unit auction. In both the pure and mixed-strategy equilibria of the model, above marginal cost pricing and inefficient despatch of generating units occur. An alternative regulatory pricing rule is considered and it is shown that offering to supply at marginal cost can be induced as a dominant strategy for all firms. The second paper analyses strategic interaction between long-term contracts and price competition in the British electricity wholesale market, and confirms that forward contracts will tend to put downward pressure on spot market prices. A 'strategic commitment' motive for selling forward contracts is also identified: a generator may commit itself to bidding lower prices into the spot market in order to ensure that it will be despatched with its full capacity. The third paper characterizes bidding behavior and market outcomes in uniform and discriminatory electricity auctions. Uniform auctions result in higher average prices than discriminatory auctions, but the ranking in terms of productive efficiency is ambiguous. The comparative effects of other market design features, such as the number of steps in suppliers' bid functions, the duration of bids and the elasticity of demand are analyzed. The paper also clarifies some methodological issues in the analysis of electricity auctions. In particular we show that analogies with continuous share auctions are misplaced so long as firms are restricted to a finite number of bids.

  20. Auction game in electric power market place

    International Nuclear Information System (INIS)

    Kumar, J.; Sheble, G.

    1996-01-01

    The power industry in the US is presently an evolving changing business environment. While planning to meet future peak demand is still a concern, the efficient utilization of existing generation and transmission resources is fast becoming a primary interest. This interest suggests a move from cost-based market operations to price based market operations. Auction market structure is one of the various ways to perform price based operation. Such a market place would be very new and challenging to all players of the electric power industry. This paper describes an overview of the new business environment. The paper presents a detailed description of the auction game. The trading objectives in the bidding game are defined. The framework of auction process is described by defining the rules to play the game. Finally, strategies for market players are discussed

  1. The Nordic electricity market towards 2010

    International Nuclear Information System (INIS)

    Aune, Finn Roar; Johnsen, Tor Arnt

    2001-01-01

    This article opens by examining the development of the Nordic power market in the 1990s. It tries to establish that the power market is a complex one. The market conditions vary greatly from one region to another and over time, and there is varying degree of integration among the regional markets. Thus, analyses of policy and political measures must be based on a detailed computational tool. In the SAMRAM project ''Power trade and Transmission'', such a computational model has been established, Normod-T. The article describes the principle features of the model and uses it to study the development of the Nordic power market toward the year 2010. It further analyses the impact of building gas power plants in Norway and of establishing a new cable for transmission of electric power between Norway and Germany

  2. Integration project of regional markets in Europe (European directive)

    International Nuclear Information System (INIS)

    Gonzalez Fernandez-Castaneda, J. J.

    2010-01-01

    The article presents the current situation of the Day-Ahead electricity markets in the different countries and Regions along West Europe. It describes the different possibilities applied to congestion management in the borders between countries and price areas, and the options employed to couple Day-ahead markets to form regional markets in Europe. Finally, it presents the initiative to Price couple Regional markets (PCR) that is being developed by Nord pool spot, EPEX Spot and OMEL with the objective to advance towards the integration of the markets that they operate in the internal Electricity Market. (Author)

  3. The characteristic of marketing macro environment of European developing countries and Ukraine for company's marketing activity

    OpenAIRE

    Peresadko, Galina; Bakastov, Ihor

    2013-01-01

    Іn the report the comparative analysis of different European macro-marketing in developing countries and Ukraine. The analysis of the demographic, economic, natural, technological, political and cultural factors. Also the perspectives for Ukraine's marketing macro environment.

  4. The OMEGA Project: Open Market Energy Generation Allocation in deregulated electricity markets

    International Nuclear Information System (INIS)

    Contreras, J.; Conejo, A.J.

    2002-01-01

    The OMEGA project is part of the 5th Framework Programme for R and D that the European Union has started in the year 2000. It is a highly complex and interdisciplinary project, with five countries and several companies involved. The project aims at developing a decision support system for electricity producers to support energy management and energy trading groups within these companies in the commercial activities on open and competitive electricity markets using an e-commerce framework. This paper presents the OMEGA project, describes the objectives pursued, evaluates the project workplan, shows the complex project management structure, highlights the management problems, and presents relevant conclusions. (author)

  5. The OMEGA Project: Open Market Energy Generation Allocation in deregulated electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Contreras, J. [Universidad de Castilla-La Mancha, (Spain). Project Management Group, Escuela Tecnica Superior de Ingenieros Industriales; Conejo, A.J. [Universidad de Castilla-La Mancha, (Spain). Power Engineering Group, Escuela Tecnica Superior de Ingenieros Industriales

    2002-08-01

    The OMEGA project is part of the 5th Framework Programme for R and D that the European Union has started in the year 2000. It is a highly complex and interdisciplinary project, with five countries and several companies involved. The project aims at developing a decision support system for electricity producers to support energy management and energy trading groups within these companies in the commercial activities on open and competitive electricity markets using an e-commerce framework. This paper presents the OMEGA project, describes the objectives pursued, evaluates the project workplan, shows the complex project management structure, highlights the management problems, and presents relevant conclusions. (author)

  6. Identifying Lead Markets in the European Automotive Industry

    DEFF Research Database (Denmark)

    Cleff, Thomas; Grimpe, Christoph; Rammer, Christian

    2015-01-01

    for automobiles and national markets differ considerably in their lead market potential. The German market is found to be most promising to serve as a lead market, while other European countries with a strong automotive tradition like France, Italy, the UK, and Sweden score lower. Our findings suggest that firms......This paper presents an indicator-based methodology to identify lead markets in the European automotive industry. The lead market approach tries to explain why certain countries are better positioned than others for developing and launching new products. While much research stresses the role...... of excellence in technology and interaction among users and producers, the lead market approach focuses on the role of demand characteristics. Based on the concept of innovation design, a lead market is defined as a country where customers prefer that design which subsequently becomes the globally dominant...

  7. Optimal Charge control of Electric Vehicles in Electricity Markets

    DEFF Research Database (Denmark)

    Lan, Tian; Hu, Junjie; Wu, Guang

    2011-01-01

    Environment constraints, petroleum scarcity, high price on fuel resources and recent advancements in battery technology have led to emergence of Electric Vehicles (EVs). As increasing numbers of EVs enter the electricity market, these extra loads may cause peak load and need to be properly...... controlled. In this paper, an algorithm is presented for every individual vehicles to minimize the charging cost while satisfying the vehicle owner’s requirements. The algorithm is based on a given future electricity prices and uses dynamic programming. Optimization aims to find the economically optimal...... solution for each vehicle....

  8. Report of the Commission on electricity market organization

    International Nuclear Information System (INIS)

    2009-01-01

    After having stated the three objectives of a public policy for a sustainable development of the electricity market, this report shows that the current situation is neither economically satisfying on a short term basis, nor sustainable on a long term basis, notably because market prices in France do not reflect the competitive advantages of the production stock, because the multiplication of regulated prices does not ensure a global economic coherence, and because new incomers do not have any development margin. The authors then state that the regulation must evolve from a general and permanent one to a more targeted and dynamic one while taking the necessity of providing electricity to small consumers, the European law, and competitiveness into account. Two solutions are proposed for such an evolution

  9. Are households better off in liberalized electricity markets

    DEFF Research Database (Denmark)

    Olsen, Ole Jess; Johnsen, Tor Arnt; Pakkanen, Merja

    wholesale market. Norway was first (1991), then came Finland and Sweden (1996) and Denmark was last (2000). Together with the UK the Nordic countries are now considered the avantgarde with respect to implementation of the European electricity market directives. The purpose of liberalization is to increase...... utilities mostly acted under very little surveillance and the authorities only intervened in specific cases of abuse. The separation of operational and regulatory functions was far from clear-cut - state and municipal agencies often had both functions. Today much more detailed principles of regulations...... administrated by independent regulatory agencies have been developed. The purpose of this paper is to analyze the situation for Nordic household consumers after liberalization of the electricity supply industry. A number of new regulatory principles have been introduced and some of them with particular regard...

  10. A Market for Company Incorporations in the European Union?

    DEFF Research Database (Denmark)

    Birkmose, Hanne Søndergaard

    2005-01-01

    The article discuss the European market for company incorporation in light of the recent decisions of the European Court of Justice; Centros (1999 E.C.R. at I-1487), Überseering (2002 E.C.R. at I-9919) and Inspire Art (2003 E.C.R. at I-10155)......The article discuss the European market for company incorporation in light of the recent decisions of the European Court of Justice; Centros (1999 E.C.R. at I-1487), Überseering (2002 E.C.R. at I-9919) and Inspire Art (2003 E.C.R. at I-10155)...

  11. Load profiles analysis for electricity market

    Directory of Open Access Journals (Sweden)

    Radu Porumb

    2014-04-01

    Full Text Available In the wake of electric power system transition towards smart grids, and the adoption of the electric market schemes, electric utilities are facing the need of a better load profiles understanding for their customers. In this work, some key objectives were addresses, such as definition of the mathematical model for calculating the hourly energy specific, identification of the three target groups for users who have developed consumer profiles, definition of the two types of significant load and assessment of the impact of using consumer profiles on users.

  12. Predictability of Wave Energy and Electricity Markets

    DEFF Research Database (Denmark)

    Chozas, Julia Fernandez

    2012-01-01

    The articlw addresses an important challenge ahead the integration of the electricity generated by wave energy conversion technologies into the electric grid. Particularly, it looks into the role of wave energy within the day-ahead electricity market. For that the predictability of the theoretical...... power outputs of three wave energy technologies in the Danish North Sea are examined. The simultaneous and co-located forecast and buoy-measured wave parameters at Hanstholm, Denmark, during a non-consecutive autumn and winter 3-month period form the basis of the investigation. The objective...

  13. ANALYSIS OF LABOUR MARKET IN ROMANIA AND THE EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    Tanase Diana

    2013-07-01

    Full Text Available The paper aims at analysing the labour market, one of the most complex forms of market in economy. The present work forwards a comparative survey regarding the labour market in Romania and in the other European Union member states. The paper starts by highlighting general aspects related to labour market and continues by the presentation of the European Union countries’ ranking according to the labour market efficiency, top elaborated on the basis of the World Economic Forum data. Furthermore, the paper analyses labour productiveness, employment rate and unemployment rate both in Romania and in the other countries of the European Union. In the end the authors forward conclusions regarding the possibilities of increasing competitiveness on Romania’s labour market.

  14. Electric vehicles: Market survey. Marktuebersicht Elektrofahrzeuge

    Energy Technology Data Exchange (ETDEWEB)

    Baur, A.

    1993-01-01

    In the context of this article a tabular list of electric vehicles is shown, which are licensed and available on the German market. This contains one- to two-seated light-weight vehicles with ordinary serial bodyworks as well as transporters and busses. (BWI)

  15. Market analysis green electricity. Final report

    International Nuclear Information System (INIS)

    Reichmuth, Matthias

    2014-01-01

    In the present study the volume of the German market for green energy will be analyzed for its functionality, barriers and also its development perspectives. Besides an evaluation of actual literature sources, elaborate interviews of electricity suppliers (green energy suppliers) were realized.

  16. Optimal DG placement in deregulated electricity market

    International Nuclear Information System (INIS)

    Gautam, Durga; Mithulananthan, Nadarajah

    2007-01-01

    This paper presents two new methodologies for optimal placement of distributed generation (DG) in an optimal power flow (OPF) based wholesale electricity market. DG is assumed to participate in real time wholesale electricity market. The problem of optimal placement, including size, is formulated for two different objectives, namely, social welfare maximization and profit maximization. The candidate locations for DG placement are identified on the basis of locational marginal price (LMP). Obtained as lagrangian multiplier associated with active power flow equation for each node, LMP gives the short run marginal cost (SRMC) of electricity. Consumer payment, evaluated as a product of LMP and load at each load bus, is proposed as another ranking to identify candidate nodes for DG placement. The proposed rankings bridges engineering aspects of system operation and economic aspects of market operation and act as good indicators for the placement of DG, especially in a market environment. In order to provide a scenario of variety of DGs available in the market, several cost characteristics are assumed. For each DG cost characteristic, an optimal placement and size is identified for each of the objectives. The proposed methodology is tested in a modified IEEE 14 bus test system. (author)

  17. Towards a regional electricity market in Southeast Europe

    International Nuclear Information System (INIS)

    Ichord, R.F. Jr.

    2002-01-01

    Historical evolution of the region's electric power policy is overviewed. The regional characteristics of Southern Europe's electric power market are summarized. The reform indicators of the region's electricity markets are discussed. The status of privatization is presented. Factors in developing regional electricity market are considered. (R.P.)

  18. Competitive nuclear production on the nordic deregulated electricity market

    International Nuclear Information System (INIS)

    Bohl, T.

    2000-01-01

    The Nordic electricity market has been partly deregulated since 1994. Today only Denmark follows the timetable recommended by the European Union, while Sweden, Norway and Finland are completely deregulated. As in most countries, the production of electricity is deregulated while the distribution is still a monopoly. This deregulation of the electricity market has created a new situation for plant life management. In order to be competitive on the market it is important to cut cost down a level when the nuclear power companies earn money again. All means to cut cost have to be used while still maintaining safety and the possibilities for operation over at least 40+ years. The possibilities to invest in modernization are limited to the absolutely necessary modifications. All investments must be very thoroughly questioned and the money can only be spent where most benefit is gained. This means new prerequisites for the absolute necessary long-strategic planning. New safety requirements from the authorities have to be discussed between the industry and the authority. The requirement cost must be compared to the benefit to safety. The authority is today requested to carry out such analyses and do so in most cases. Since the electricity market is international the requirements of the authorities must be harmonized on the whole market. The political threat against nuclear power is serious in many countries and it is important to continue working with public acceptance and lobbying. Especially in Sweden a lot of effort is spent on trying to change the taxation of nuclear power. In the near future increasing electricity demand will make the prices go up to a level when nuclear power companies earn money again. The very serious worries about climate change will also strengthen the competitiveness of nuclear power. (author)

  19. The ties between the strategy of players on the European gas market

    International Nuclear Information System (INIS)

    Lecarpentier, A.

    2006-01-01

    One result of opening up the European gas market to competition has been to increase the number and diversity of the players involved, whether producers, suppliers or electric utilities. However, while the gas on offer is still controlled by a handful of market players given the increasing importance of state-owned companies from exporting countries outside Europe, the downstream gas sector continues to show a strong concentration of incumbent operators seeking a dominant position in the supply of gas. (author)

  20. Distributed Generation in European Electricity Markets

    DEFF Research Database (Denmark)

    Ropenus, Stephanie

    ) shows that the problem mainly comes from the assumptions of the eddy-viscosity concept, which are deeply invalidated in the wind turbine wake region. Different models that intent to correct the k-ε model’s issues are investigated, of which none of them is found to be adequate. The mixing of the wake...

  1. Demand-controlling marketing of electric utilities

    Energy Technology Data Exchange (ETDEWEB)

    Raffee, H; Fritz, W

    1980-01-01

    In situations like the shortage of energy resources the particular autonomy of the users concerning energy demand raises more and more aggravating problems for the electric utilities (EU) and, last not least, for society (i.e. the peak-load problem, threatening bottlenecks in the supply situation). Thus the requirement for a demand-controlling marketing strategy of the EU with the help of which the individual demand should be influenced in the following manner is legitimate. The article discusses the targets, strategies, and instruments of marketing performed by the EU under the aspect of their efficiency concerning demand control. The discussion leads to e.g. the following results: that a marketing strategy for the sensible, responsible, and efficent use of energy, in the long-term, serves both the interests of the users and the interests of the EU; that such a marketing programme can have the required controlling effects especially with the help of strategies like market segmentation and cooperation. The discussion makes also clear that a demand-controlling marketing strategy of the EU can hardly be realized without a considerable change within the organization of the EU on one hand and, on the other, without expanding the marketing programme toward a marketing strategy of balance.

  2. A new index for electricity spot markets

    International Nuclear Information System (INIS)

    Falbo, Paolo; Fattore, Marco; Stefani, Silvana

    2010-01-01

    Different indexes are used in electricity markets worldwide to represent the daily behavior of spot prices. However, the peculiarities of these markets require a careful choice of the index, based on mathematical formulation and its statistical properties. Choosing a bad index may influence the financial policies of market players, since derivative pricing and hedging performance can be deeply affected. In this paper with an initial theoretical analysis, we intend to show that the most widely used indexes (simple arithmetic average and weighted average with current volumes) are poor representatives of the spot market. We will then perform an analysis of the hedging strategy on a derivative instrument (an Asian option) written on a reference index. The resulting simulations, applied to OMEL (Spain) and EEX (Germany), are sufficiently clear cut to suggest that the decision to adopt an index to represent properly a market must be taken very carefully. Finally we will propose a new index (FAST index) and, after comparing it with the previous indexes, will show that both theoretically and practically this index can be taken as a good electricity market synthetic indicator.

  3. Electricity market design for the prosumer era

    Science.gov (United States)

    Parag, Yael; Sovacool, Benjamin K.

    2016-04-01

    Prosumers are agents that both consume and produce energy. With the growth in small and medium-sized agents using solar photovoltaic panels, smart meters, vehicle-to-grid electric automobiles, home batteries and other ‘smart’ devices, prosuming offers the potential for consumers and vehicle owners to re-evaluate their energy practices. As the number of prosumers increases, the electric utility sector of today is likely to undergo significant changes over the coming decades, offering possibilities for greening of the system, but also bringing many unknowns and risks that need to be identified and managed. To develop strategies for the future, policymakers and planners need knowledge of how prosumers could be integrated effectively and efficiently into competitive electricity markets. Here we identify and discuss three promising potential prosumer markets related to prosumer grid integration, peer-to-peer models and prosumer community groups. We also caution against optimism by laying out a series of caveats and complexities.

  4. Renewable energy promotion in competitive electricity markets

    International Nuclear Information System (INIS)

    Wohlgemuth, Norbert

    1999-01-01

    The opening of electricity markets to competition involves fundamental structural changes in the electricity supply industry. There is, however, doubt that the new industrial organisation will provide the right price signals that will ensure that renewable energy options will be adopted. Therefore, one of the numerous challenges in the energy industry restructuring process is to ensure that renewable energy has a fair opportunity to compete with other supply resources. This paper presents mechanisms to promote the use of renewable energy in competitive electricity markets. These mechanisms include the Non Fossil Fuel Obligation (NFFO), the Renewables Portfolio Standard (RPS) and the Systems Benefit Charge (SBC). The paper discusses merits and disadvantages of these mechanisms, given the experience made in the United States and the United Kingdom. (author)

  5. European Regulatory Framework for Money Market Funds

    OpenAIRE

    Portuese, Aurelien; MacNeil, Iain

    2014-01-01

    Money market funds are widely used by all types of investors, including households, corporate treasurers, pension funds, or insurance companies, who regard money market funds as a ‘safe’ short-term liquid asset class for investing cash. In this case they are proxies to cash deposits. Money market funds are themselves key lenders to issuers of short dated high quality money market instruments. They provide an important source of funding for a variety of institutions such as sovereigns, banks, ...

  6. European electricity: meeting the challenge of the 1990s

    International Nuclear Information System (INIS)

    1989-01-01

    At a two day Conference on 'European Electricity', thirteen papers were presented concerning the likely growth in electricity demand, the structure and regulation of the industry, the effect of the growing environmental lobby and the changing fuel mix in electricity generation. One paper on nuclear power in electricity production in the 1990s is selected and indexed separately. (UK)

  7. Natural gas and deregulation in the European Market

    International Nuclear Information System (INIS)

    Anon.

    2000-01-01

    The gas market is progressively moving towards new organizations under the effect of deregulation initiated in the United States, the United Kingdom and transposed to other countries, particularly in Europe, at least for the member countries of the European Union. Within the framework provided by this overall trend, Cedigaz proposes a study titled 'Natural Gas and Deregulation' in order to describe the main developments affecting these markets on account of deregulation. This report is structured on the basis of three main topics (market organization, marketing modes, pricing) which appears to be the most cogent in terms of deregulation. This grouping by major topics accordingly offers a relatively synthetic view of the main trends which could be observed in the European market, for example. The analysis is largely based on the example of the American market and, to a lesser extent, on the British situation. Incidentally, it has adapted the terms 'regulated market' to define conventional markets and 'deregulated market' to define markets which have incorporated the principle of Third Party Access (TPA). This is obviously a mere convention, since in both cases, the gas market, a network market, is regulated either by the State or by an independent agency. Also noteworthy is the diversity of the regulation methods for the network markets. While an underlying principle prevails throughout, particularly the introduction of TPA, political and energy considerations alike are liable to condition strongly the final structure of a given market. The apparently comparable British and American experience thus display substantial differences. In other words, one should not imagine a sudden transposition of either case to the European market. The different States preserve considerable leeway to guide market developments in one direction or another. On the whole, deregulation is not a frozen process, but has to adapt permanently to developments in a market stage-managed by

  8. European Utility Requirements: leveling the European electricity producers' playing ground for new NPPs

    International Nuclear Information System (INIS)

    Bernard Roche

    2006-01-01

    Full text of publication follows: Since 1992, the European Utility Requirement (EUR) document has been developed by the major European electricity producers. The main driver to this work has been the construction of a unified European market. The electricity producers have set out design requirements adapted to this new European environment, while keeping in mind experience feedback from operating NPPs worldwide. The EUR document is now fully operational and its set of generic requirements have been recently used as bid specification in Finland and in China. The EUR document keeps developing in two directions: 1- completing the assessment of the projects that could be proposed by the vendors for the European market. Five projects have been assessed between 1999 and 2002: BWR90, EPR, EP1000, ABWR and SWR1000. Two new projects are being assessed, the Westinghouse AP1000 and the Russian VVER AES92. It is currently planned to publish these two new assessments in the first half of 2006. Others may be undertaken meanwhile. 2- revision of the generic requirements. A revision C of the volume 4 dedicated to power generation plant is being completed. It includes responses to vendors comments and feedback from the TVO call for bid for Finland 5. A revision D of the volumes 1 and 2 dedicated to nuclear islands is foreseen. The main contributions to this revision are the harmonization actions going on in Europe about nuclear safety (WENRA study on reactor safety harmonization, EC works, evolution of the IAEA guides and requirements), the harmonization works on the conditions of connection to the European HV grid as well as harmonization works on other matters, like codes and standards. This has given a unified frame in which the future nuclear plants can be designed and built. In this frame development of standards designs usable throughout Europe without major design change is possible, thus helping to increase competition, and ultimately to save investment and operating costs

  9. Analysis and modelling of the fuels european market

    International Nuclear Information System (INIS)

    Simon, V.

    1999-04-01

    The research focus on the European fuel market prices referring to the Rotterdam and Genoa spot markets as well the German, Italian and French domestic markets. The thesis try to explain the impact of the London IPE future market on spot prices too. The mainstream research has demonstrated that co-integration seems to be the best theoretical approach to investigate the long run equilibrium relations. A particular attention will be devoted to the structural change in the econometric modelling on these equilibriums. A deep analysis of the main European petroleum products markets permit a better model specification concerning each of these markets. Further, we will test if any evidence of relations between spot and domestic prices could be confirmed. Finally, alternative scenarios will be depicted to forecast prices in the petroleum products markets. The objective is to observe the model reaction to changes crude oil prices. (author)

  10. Nuclear power within liberalised electricity markets

    International Nuclear Information System (INIS)

    Kidd, Stephen W.

    2002-01-01

    Competition between various methods of generating electricity in liberalised markets means that all power plants must be cost-effective. The price of electricity from nuclear power includes all waste disposal and decommissioning costs, unlike other electricity generating technologies. Most existing nuclear power plants are likely to prosper under electricity liberalization. Many will receive operating life extensions and be able to compete in the electricity market for many years to come. Investment costs are particularly heavy for nuclear plants. Capital expenditure appraisal methodologies mean that such plants suffer financial disadvantages in times of high interest rates. Low and stable fuel costs are the prime advantage of nuclear plants against other sources of generating electricity. There will be significant demand for new generating capacity, both incremental and replacement, in the next 20 years. Under present conditions, where there is access to a stable and cheap supply of piped gas, nuclear and coal plants find it difficult to compete against gas-fired plants. The nuclear industry is addressing the need for new reactor designs, offering significant capital and operating cost reductions from the previous generation of reactors. This development and the need for carbon abatement on a worldwide basis offers nuclear plants a further economic advantage against alternative technologies. (author)

  11. European Globalisation Adjustment Fund-Assistance in the Labour Market

    Directory of Open Access Journals (Sweden)

    Ramona Mariana CALINICA

    2016-12-01

    Full Text Available The intensification of globalization and through intense manifestation of the effects on recent economic and financial crisis, employment market has been affected, and at European Union level was considered increasingly necessary granting support for counter of the negative effects of the two phenomena on this market. European Globalisation Adjustment Fund is designed for a rapid reintegration of fired workers and increase of the employment potential of the workforce, after mass dismissals linked to the two phenomena mentioned above.

  12. The future market in electricity in the Czech Republic

    International Nuclear Information System (INIS)

    Vacik, J.

    1998-01-01

    The Czech Republic has signed the Association Agreement with the European Union in early nineties and it has been the Republic's goal to accede to full membership in the European Union. In the power sector, the Directive 96/92/EC is, in this respect, the most important document. The Czech Energy Law was become effective from 1995 in a compromise form which proved to stay well short of perfection. Unfortunately, a number of articles and provisions fail to be consistent with the relevant EU documents, and even far less so with Directive 96/92/EC. The draft Energy Policy of the Czech Republic as presented officially in May 1997, has already definitely stressed some basic features of the future market in electricity. Regrettably, also in the draft Energy Policy some pressing long-term problems fail to be recognized or addressed and also areas failing to conform with the European power industry laws can be found in it. For the Czech Republic, it will be useful to utilize the experience of mainly the smaller EU countries and to proceed in pursuance of the findings of a thorough analysis and in a stepwise manner. In the first phase, it will be enough to make those moves which are common for all the conceivable solutions. Directive 96/92/EC does not prescribe a change in the structure of the existing electric power sector and far less any change in the ownership relation. In the same token, Directive 96/92/EC does not charge the member states with any duty to launch a wholesale market in electricity (pool of exchange). That is reserved under the discretion of the member states. Nowhere throughout the Directive is encountered any requirement to reduce the market strength of the dominant entities, if such exist

  13. Registries in European post-marketing surveillance

    DEFF Research Database (Denmark)

    Bouvy, Jacoline C; Blake, Kevin; Slattery, Jim

    2017-01-01

    at gaining further insight into the European Medicines Agency's (EMA) requests for new registries and registry studies using existing registries and to review the experience gained in their conduct. METHODS: European Public Assessment Reports were consulted to identify products for which a request...

  14. Essays on competition in electricity markets

    Science.gov (United States)

    Bustos Salvagno, Ricardo Javier

    The first chapter shows how technology decisions affect entry in commodity markets with oligopolistic competition, like the electricity market. I demonstrate an entry deterrence effect that works through cost uncertainty. Technology's cost uncertainty affects spot market expected profits through forward market trades. Therefore, incentives to engage in forward trading shape firms' decisions on production technologies. I show that high-cost but low-risk technologies are adopted by risk-averse incumbents to deter entry. Strategic technology adoption can end in a equilibrium where high-cost technologies prevail over low-cost but riskier ones. In the case of incumbents who are less risk-averse than entrants, entry deterrence is achieved by choosing riskier technologies. The main results do not depend on who chooses their technology first. Chapter two examines the Chilean experience on auctions for long-term supply contracts in electricity markets from 2006 to 2011. Using a divisible-good auction model, I provide a theoretical framework that explains bidding behavior in terms of expected spot prices and contracting positions. The model is extended to include potential strategic behavior on contracting decisions. Empirical estimations confirm the main determinants of bidding behavior and show heterogeneity in the marginal cost of over-contracting depending on size and incumbency. Chapter three analyzes the lag in capacity expansion in the Chilean electricity market from 2000 to 2004. Regarded as a result of regulatory uncertainty, the role of delays in the construction of a large hydro-power plant has been overlooked by the literature. We argue that those delays postponed projected investment and gave small windows of opportunity that only incumbents could take advantage of. We are able to retrace the history of investments through real-time information from the regulator's reports and a simple model enables us to explain the effect of those delays on suggested and under

  15. On the evaluation of market power and market dominance-The Nordic electricity market

    International Nuclear Information System (INIS)

    Hellmer, Stefan; Warell, Linda

    2009-01-01

    This paper studies different concentration and dominance measures using structural indexes used to initially screen the competitive situation in a market. The Nordic and Swedish electricity markets are used as the empirical cases. Market concentration issues in the Nordic electricity market in general and in Sweden in particular have been, at least in initial screenings, approached by the Herfindahl-Hirschman Index (HHI). This article uses an alternative measure to HHI, which is based on market shares of the two largest firms in the market. The results shows that only the Swedish wholesale market has a firm that can be regarded as dominant, but only during very short periods. The results from a hypothetical merger between the second and third largest company in the Swedish wholesale market shows that when the dominant position of the largest firm is reduced, by increasing the size of the second largest firm, the threshold value indicates that competition actually will increase (contradicting to the HHI).

  16. Integration of European Banking and Financial Markets

    OpenAIRE

    Marques Ibanez, David; Molyneux, Philip

    2002-01-01

    This paper investigates banking and capital market developments in Europe and the moves towards the creation of a single financial services market. A critical element in the integration process is the success of the EU's Financial Services Action Plan (FSAP). This seeks to introduce a wide range of legislation aimed at reducing barriers and promoting cross-border trade in financial services - especially for capital markets and retail / SME financial service areas. As was the case in 1992, it ...

  17. The UK electricity market and the wind industry - a perspective of 1998 proposals

    International Nuclear Information System (INIS)

    Batley, S.L.; Twidell, J.W.; Gibbons, C.

    1997-01-01

    After April 1st 1998, the Public Electricity Supplier monopoly ( in England, Wales and Scotland) over their local franchise market will cease and all customers, regardless of size, will be able to choose their supplier. These changes will have a major impact on the UK wind energy industry. An increased number of Second Tier Suppliers will compete with existing market players for electricity purchase from generators and sale of electricity to consumers. Market changes should improve possibilities for wind generators to obtain a Second Tier Supplier licence and serve the domestic, small demand, market. There may also be market opportunities to sell to specialist 'green' suppliers. The post 1998 changes are of importance to the European Union 'Guarantee of Result' project, which aims to promote small scale wind systems through guaranteed quality and performance of systems. For the Guarantee of Results to be utilised in the UK, all markets for the generated electricity from a wind system must be considered and evaluated. (Author)

  18. The draft of the new electricity market law at a glance

    International Nuclear Information System (INIS)

    Voss, Jan Ole; Kirschnick, Stephan

    2016-01-01

    The conclusion of the new electricity market law is: ''The market will judge it''. A refined market where the renewable energies are increasingly integrated, shall guarantee reasonable prices, security of supply and environmental protection. Whether this can be achieved in reality, is highly questionable. This would require that the overcapacity of the German electricity market confirmed in several reports and the wholesale price for electricity recovers the long term. Only then can it be assumed that investment incentives arise in the construction of modern and efficient power generation plants. Such a ''market-faithful'' system is also absolutely dependent on the behavior of neighboring European countries. Only when these go along the path and affect the price and capacity development not regulatory, the completion of a functioning, liberalized EU internal market for electricity can succeed. [de

  19. Modelling electricity forward markets by ambit fields

    DEFF Research Database (Denmark)

    Barndorff-Nielsen, Ole; Fred Espen Benth, Fred Espen; Veraart, Almut

    This paper proposes a new modelling framework for electricity forward markets, which is based on ambit fields. The new model can capture many of the stylised facts observed in energy markets. One of the main differences to the traditional models lies in the fact that we do not model the dynamics......, but the forward price directly, where we focus on models which are stationary in time. We give a detailed account on the probabilistic properties of the new model and we discuss martingale conditions and change of measure within the new model class. Also, we derive a model for the spot price which is obtained...

  20. Risk-minimisation in electricity markets

    DEFF Research Database (Denmark)

    Tegner, Martin; Ernstsen, Rune Ramsdal; Skajaa, Anders

    2017-01-01

    This paper analyses risk management of fixed price, unspecified consumption contracts in energy markets. We model the joint dynamics of the spot-price and the consumption of electricity, study expected loss minimisation for different loss measures, and derive optimal static hedge strategies based...... on forward contracts. The strategies are implemented empirically and compared to a benchmark strategy widely used by the industry. On 2012–2014 Nordic market data, the suggested hedges significantly outperform the benchmark: The realised cumulative profit-and-losses are greater for almost every single one...

  1. Constructing forward price curves in electricity markets

    DEFF Research Database (Denmark)

    Fleten, S.-E.; Lemming, Jørgen Kjærgaard

    2003-01-01

    We present and analyze a method for constructing approximated high-resolution forward price curves in electricity markets. Because a limited number of forward or futures contracts are traded in the market, only a limited picture of the theoretical continuous forward price curve is available...... to the analyst. Our method combines the information contained in observed bid and ask prices with information from the forecasts generated by bottom-up models. As an example, we use information concerning the shape of the seasonal variation from a bottom-up model to improve the forward price curve quoted...

  2. Constructing forward price curves in electricity markets

    International Nuclear Information System (INIS)

    Fleten, Stein-Erik; Lemming, Jacob

    2003-01-01

    We present and analyze a method for constructing approximated high-resolution forward price curves in electricity markets. Because a limited number of forward or futures contracts are traded in the market, only a limited picture of the theoretical continuous forward price curve is available to the analyst. Our method combines the information contained in observed bid and ask prices with information from the forecasts generated by bottom-up models. As an example, we use information concerning the shape of the seasonal variation from a bottom-up model to improve the forward price curve quoted on the Nordic power exchange

  3. Electricity market pricing, risk hedging and modeling

    Science.gov (United States)

    Cheng, Xu

    In this dissertation, we investigate the pricing, price risk hedging/arbitrage, and simplified system modeling for a centralized LMP-based electricity market. In an LMP-based market model, the full AC power flow model and the DC power flow model are most widely used to represent the transmission system. We investigate the differences of dispatching results, congestion pattern, and LMPs for the two power flow models. An appropriate LMP decomposition scheme to quantify the marginal costs of the congestion and real power losses is critical for the implementation of financial risk hedging markets. However, the traditional LMP decomposition heavily depends on the slack bus selection. In this dissertation we propose a slack-independent scheme to break LMP down into energy, congestion, and marginal loss components by analyzing the actual marginal cost of each bus at the optimal solution point. The physical and economic meanings of the marginal effect at each bus provide accurate price information for both congestion and losses, and thus the slack-dependency of the traditional scheme is eliminated. With electricity priced at the margin instead of the average value, the market operator typically collects more revenue from power sellers than that paid to power buyers. According to the LMP decomposition results, the revenue surplus is then divided into two parts: congestion charge surplus and marginal loss revenue surplus. We apply the LMP decomposition results to the financial tools, such as financial transmission right (FTR) and loss hedging right (LHR), which have been introduced to hedge against price risks associated to congestion and losses, to construct a full price risk hedging portfolio. The two-settlement market structure and the introduction of financial tools inevitably create market manipulation opportunities. We investigate several possible market manipulation behaviors by virtual bidding and propose a market monitor approach to identify and quantify such

  4. Financial market development in the Central and Eastern European countries

    Czech Academy of Sciences Publication Activity Database

    Berglund, T.; Hanousek, Jan; Mramor, D.

    2006-01-01

    Roč. 7, č. 4 (2006), s. 280-282 ISSN 1566-0141. [ Financial market development in the Central and Eastern European countries. Prague, 26.05.2006-27.05.2006] Institutional research plan: CEZ:AV0Z70850503 Keywords : financial markets * Central and Eastern Europe Subject RIV: AH - Economics

  5. European oil demand and 1993 Common Market potential effects

    International Nuclear Information System (INIS)

    Chevalier, J.M.

    1991-01-01

    Unification of the energy european market will heavily enhance external energy dependence and inter-energy competition. In order to respond to these new challenges, petroleum industry will have to change, probably in the direction of an increased integration concentration. Petroleum market share, moreover, will depend largely from environmental trends in EEC politics and regulations

  6. European Market Portfolio Diversification Strategies across the GFC

    NARCIS (Netherlands)

    D.E. Allen (David); M.J. McAleer (Michael); R.J. Powell (Robert); A.K. Singh (Abhay)

    2014-01-01

    markdownabstract__Abstract__ is paper features an analysis of the effectiveness of a range of portfolio diversification strategies as applied to a set of daily arithmetically compounded returns on a set of ten market indices representing the major European markets for a nine year period from the

  7. 2008 Annual Report of SGCC on Electricity Market Transactions

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    On April 14,2009,the State Grid Corporation of China (SGCC) held the press conference in Beijing on electricity market transactions and then released the "2008 Annual Report of SGCC on Electricity Market Transactions".

  8. Capacity choices in liberalised electricity markets

    International Nuclear Information System (INIS)

    Castro-Rodriguez, Fidel; Marin, Pedro L.; Siotis, Georges

    2009-01-01

    This paper addresses the issue of investment in electricity generation in the context of a liberalised market. We use the main results derived from a theoretical model where firms invest strategically to simulate the Spanish electricity system with real-world data. Our results indicate that, under reasonable parameter constellations regarding the number of agents, the level of capacity resulting from private decisions falls well short of the social optimum. Last, we show that two regulatory mechanisms that have been used to generate additional incentives for private agents to install capacity (capacity payment and price-adder) are ineffective and/or prohibitively costly.

  9. Electricity market liberalisation: a difficult undertaking

    International Nuclear Information System (INIS)

    Graber, W.

    2001-01-01

    This article describes the options available for the implementation of discrimination-free cost allocation for the transport of energy in a liberalised Swiss electricity market. The advantages and disadvantages of two models - the distance-dependent 'path' model and the connection-point model - are discussed. Experience already gained in Germany, England, Finland, Sweden, Norway and Austria is discussed. The structure of the Swiss electricity grid with its seven tiers is looked at. The methods of splitting the transport costs between producers and consumers and also between the various layers of the grid are examined and functions for the matching of load and production are discussed

  10. Dis-harmony in European natural gas market(s). Discussion of standards and definitions

    Energy Technology Data Exchange (ETDEWEB)

    Karasz, Michael [The Energy House GmbH, Muenchen (Germany); Pustisek, Andrej [Hochschule fuer Technik, Stuttgart (Germany); Drasdo, Peter

    2013-06-15

    The European Union attempts to harmonise the European natural gas market(s). In general, this is supported on national levels. Nevertheless, such harmonisation is not yet fully accomplished: neither for the rules nor for the quality specifications nor for the physical quantities and their units. Even if the current economic impact of such dis-harmony is negligible, i.e. that market participants for the time being do not have to bear additional costs caused by the lack of harmonisation, participants in the commodity market are exposed to contractual risks. Potentially, this might lead to reduced competition and reduced liquidity of each single and the European internal market for natural gas. However, as the costs for a potential harmonisation of European gas markets are estimated to be significant, the dilemma is evident and the 'political' solution of the 'harmonisation problem' will necessarily deviate from the traders' one. (orig.)

  11. Electricity Markets Ontology to Support MASCEM's Simulations

    DEFF Research Database (Denmark)

    Santos, Gabriel; Pinto, Tiago; Vale, Zita

    2016-01-01

    the several issues related to these systems, including the involved players that act in this domain. To take better advantage of these systems, their integration is mandatory. The main contribution of this paper is the development of the Electricity Markets Ontology, which integrates the essential concepts...... necessary to interpret all the available information related to electricity markets, while enabling an easier cooperation and adequate communication between related systems. Additionally, the concepts and rules defined by this ontology can be extended and complemented according to the needs of other......Power systems worldwide are complex and challenging environments. The increasing necessity for an adequate integration of renewable energy sources is resulting in a rising complexity in power systems operation. Multi-agent based simulation platforms have proven to be a good option to study...

  12. Flexibility-enabling Contracts in Electricity Markets

    DEFF Research Database (Denmark)

    Boscan, Luis; Poudineh, Rahmatallah

    As the share of intermittent renewable energy increases in the generation mix, power systems are exposed to greater levels of uncertainty and risk, which requires planners, policy and business decision makers to incentivise flexibility, that is: their adaptability to unforeseen variations....... Additionally, along with traditional sources, which already enable flexibility, a number of business models, such as thermostat-based demand response, aggregators and small storage providers, are emerging in electricity markets and expected to constitute important sources of flexibility in future decentralised...... power systems. However, due to presence of high transaction costs, relative to the size of resource, the emerging small resources cannot directly participate in an organised electricity market and/or compete. This paper asks the fundamental question of how should the provision of flexibility, as a multi...

  13. Short run pricing in competitive electricity markets

    International Nuclear Information System (INIS)

    Ring, B. J.; Read, E. G.

    1996-01-01

    In response to the need for more responsive, competitive and decentralized pricing strategies forced upon the industry by deregulation, this study reviewed the type of electricity pricing required to coordinate a competitive wholesale electricity market over time periods typically of the order of one hour. It was found that nodal spot pricing can provide a straight-forward mechanism for providing the correct signals to market participants, while reflecting the costs and complexities of transmission network operation. Provided that all binding constraints are represented in the pricing model, and assuming that they are used in conjunction with long term contracts and capacity rights, such pricing can potentially deliver most of the benefits promised by perfect coordination, while allowing competition to flourish. 4 refs

  14. Insuring unit failures in electricity markets

    International Nuclear Information System (INIS)

    Pineda, S.; Conejo, A.J.; Carrion, M.

    2010-01-01

    An electric energy producer participates in futures markets in the hope of hedging the risk of trading in the pool. However, this producer is required to supply the energy associated with all its signed forward contracts even if some of its units are forced out due to unexpected failures. In this case, the producer must purchase some of the energy needed to meet its futures market commitments in the pool, which may result in high losses if the pool prices happen to be higher than the forward contract prices. To mitigate these losses, the producer can take out insurance against the forced outages of its units. Using a stochastic programming model, this paper analyzes the convenience of signing an insurance against unit failure by an electric energy producer and its impact on forward contracting decisions. Results from a realistic case study are provided and analyzed.

  15. Applying mathematical finance tools to the competitive Nordic electricity market

    OpenAIRE

    Vehviläinen, Iivo

    2004-01-01

    This thesis models competitive electricity markets using the methods of mathematical finance. Fundamental problems of finance are market price modelling, derivative pricing, and optimal portfolio selection. The same questions arise in competitive electricity markets. The thesis presents an electricity spot price model based on the fundamental stochastic factors that affect electricity prices. The resulting price model has sound economic foundations, is able to explain spot market price mo...

  16. Demand Response Within Current Electricity Wholesale Market Design

    OpenAIRE

    Ramos Gutierrez, Ariana Isabel; De Jonghe, Cedric; Six, Daan; Belmans, Ronnie

    2013-01-01

    The introduction of intermittent energy resources calls for the ability to modulate consumption patterns according to electricity availability. This paper provides a brief overview of the main electricity market design characteristics and places demand response within the framework of the existing timeline of market operation. The main differences between electricity markets lie in the price formation mechanisms where some markets pay-as- cleared and some pay- as- bid for the electricity tran...

  17. Changing patterns of competition in European gas markets

    International Nuclear Information System (INIS)

    Heren, P.

    1996-01-01

    Despite a period of statism in the European natural gas market, the author argues that economic, political and regulatory pressures are approaching which will force dramatic change in the market, and identifies factors relating to pipeline capacity, competition, prices and market changes and fuel use which will drive the changes. A historical perspective is used as a framework to explain the inevitability of these changes. (UK)

  18. Cross-border effects of capacity mechanisms in electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Elberg, Christina

    2014-07-15

    To ensure security of supply in liberalized electricity markets, different types of capacity mechanisms are currently being debated or have recently been implemented in many European countries. The purpose of this study is to analyze the cross-border effects resulting from different choices on capacity mechanisms in neighboring countries. We consider a model with two connected countries that differ in the regulator's choice on capacity mechanism, namely strategic reserves or capacity payments. In both countries, competitive fi rms invest in generation capacity before selling electricity on the spot market. We characterize market equilibria and find the following main result: While consumers' costs may be the same under both capacity mechanisms in non-connected countries, we show that the different capacity mechanisms in interconnected countries induce redistribution effects. More precisely, we nd that consumers' costs are higher in countries in which reserve capacities are procured than in countries in which capacity payments are used to ensure the targeted reliable level of electricity.

  19. Electricity markets. Investment, performance and analysis

    International Nuclear Information System (INIS)

    Murray, B.

    1998-01-01

    The impact of deregulation on the theory and practice of investment appraisal is addressed in this comprehensive treatment of the restructuring of the electricity supply industry. Demonstrating that the classical approach to generation investment appraisal is no longer valid, a new approach is developed using three economic models to represent differing market conditions. Highlighting the impact on the organisation of the utilities and their suppliers, this book offers essential advice for survival in the deregulated environment worldwide. (author)

  20. Electricity and gas market observatory. 4. Quarter 2006; Observatoire des marches de l'electricite et du gaz. 4. trimestre 2006

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-07-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: - practical information for eligible customers: consumer guide, list of suppliers, - communications regarding markets running; CRE's annual activity report. Content: A - The electricity market: The retail electricity market (Introduction, Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2006); The wholesale electricity market (Introduction, Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter); B - The gas market: The retail gas market (Introduction, The eligible customer segments and their respective weights, Status at January 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary.