WorldWideScience

Sample records for european energy market

  1. 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?

  2. 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.)

  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. 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)

  5. 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.)

  6. 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.

  7. 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)

  8. 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)

  9. 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.

  10. Recent developments in European energy markets

    International Nuclear Information System (INIS)

    Schubert, E.

    1981-01-01

    The industrial development in Europe which has created a remarkable prosperity was originally based on the availability of indigenous energy. At a later stage Europe accepted the offer of low cost crude from the world market. Since a few years we have lost our influence to moderately adjust prises to the changing circumstances in the world market for primary energies since - the multinationally operating companies have lost their balancing power and - the direct dialogue between producing and consuming countries has so far not resulted in any success. The use of the flowery expression energy crisis pretends that we are suffering from a lack of available primary energy. But the actual situation is more to the contrary. At the privailing energy price level there is a manifold offer. Considerable efforts, however, are necessary to create the prerequisits for an utilization of the options among different primary energies. Infrastructures have to be changed requiring impulse on the part of the state. There is no reason to assume a limited availability of crude oil and petroleum products for the use in such sectors in which an early substitution would cause an excessive economic burden. Besides lignite only nuclear energy does offer for the time beeing a remarkable contribution for a reduction of the energy bill in Europe. Starting with the power plants of the first generation which are sufficiently tested and via the breeder technology nuclear power production will most probably approach the aime of the utilization of renewable energies at reasonable costs over the long term. (orig.) [de

  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. 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

  13. 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)

  14. Financing Renewable Energy in the European Energy Market

    Energy Technology Data Exchange (ETDEWEB)

    De Jager, D.; Klessmann, C.; Stricker, E.; Winkel, T.; De Visser, E.; Koper, M. [Ecofys, Utrecht (Netherlands); Ragwitz, M.; Held, A. [Fraunhofer ISI, Karlsruhe (Germany); Resch, G.; Busch, S.; Panzer, C. [Energy Economics Group EEG, Vienna University of Technology, Vienna (Austria); Gazzo, A.; Roulleau, T.; Gousseland, P.; Henriet, M.; Bouille, A. [Ernst and Young, London (United Kingdom)

    2011-01-15

    The Directive 2009/28/EC on the promotion of the use of energy from renewable sources (RES) sets the overall target to reach 20% renewable energy in gross final energy consumption in 2020. This target is broken down into binding individual Member State targets. Reaching these targets will require a huge mobilization of investments in renewable energies in the coming decade. In order to improve financing and coordination with a view to the achievement of the 20 % target, Article 23 (7) of the Directive requires the Commission to present an analysis and action plan with a view to: (a) The better use of structural funds and framework programmes; (b) The better and increased use of funds from the European Investment Bank and other public finance institutions; (c) Better access to risk capital; (d) The better coordination of Community and national funding and other forms of support; (e) The better coordination in support of renewable energy initiatives whose success depends on action by actors in several Member States. This report presents the results of the title project. The study provides an up to date and thorough assessment of the costs of renewable energy and the support and financing instruments available for renewable energy R and D, demonstration projects and large-scale deployment. This includes details of each Member State's expenditure (via grants, support schemes, loans etc.) and use of Community funds, including loans of the EIB (European Investment Bank) and the EBRD (European Bank for Reconstruction and Development). It also explores the possible instruments for use in the future and constraints in the capital market, which hinder the development of renewable energy. Finally, it develops recommendations for improving financing and support instruments, improving the sector's access to capital, and closing the financing gap for reaching the 2020 targets. The chapters of the report represent separate tasks: (1) Costs of renewable energy

  15. 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)

  16. 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

  17. European energy market liberalisation and integration. An assesment of the new EU energy package

    International Nuclear Information System (INIS)

    De Joode, J.; Van Oostvoorn, F.

    2008-06-01

    The new energy package presented by the European Commission (EC) in September 2007 contains a number of diverse, and sometimes controversial, measures aimed at bringing current European energy markets closer to the ideal of one competitive and fully integrated market. We discuss the flaws and merits of the package and signal a number of concerns regarding the ultimate effectiveness of the new energy market Directive into which the proposed package will culminate

  18. Shale gas. Opportunities and challenges for European energy markets

    Energy Technology Data Exchange (ETDEWEB)

    De Joode, J.; Plomp, A.J.; Ozdemir, O. [ECN Policy Studies, Petten (Netherlands)

    2013-02-15

    The outline of the presentation shows the following elements: Introduction (Shale gas revolution in US and the situation in the EU); What could be the impact of potential shale gas developments on the European gas market?; How may shale gas developments affect the role of gas in the transition of the power sector?; and Key messages. The key messages are (1) Prospects for European shale gas widely differ from US case (different reserve potential, different competition, different market dynamics); (2) Shale gas is unlikely to be a game changer in Europe; and (3) Impact of shale gas on energy transition in the medium and long term crucially depends on gas vs. coal prices and the 'penalty' on CO2 emissions.

  19. Institutions in European and Asian energy markets: A methodological overview

    International Nuclear Information System (INIS)

    Aalto, Pami

    2014-01-01

    This article introduces a methodological framework to study institutions in European and Asian energy markets with a comparative case study on the EU and east Asia. A distinction is made between informal and three types of formal institutions; and their transaction cost reducing, order creating and ecological/climatic functions. The operation of energy markets is explained through the structure of institutions, their types and functions. It is found that order-creating institutions guarantee enough stability, (mutual) trust and solidarity among EU Member States to support the competitive markets institution and supranational formal institutions as the underpinnings of trade in the internal energy market, which nevertheless retains some corporatist features. In the east Asian markets the nature of order-creating institutions sovereignty, energy diplomacy and great power management prevents the emergence of supranational formal institutions and a shared idea of trade. The prevailing structure has a large number of sub-regional organisations with overlapping tasks and few powers. In both markets the functions of institutions signify more than their number; transaction cost reducing institutions are dependent on order-creating institutions, while both of these functions are better realised on the regional level than ecological/climatic functions; ultimately informal institutions are most influential. - Highlights: • Institutions include informal types and three formal types. • The functions of institutions relate to transaction costs, order and ecology. • Transaction cost reduction depends on order creating institutions. • Ecological functions are the most difficult to realise regionally. • Informal institutions are most influential in the EU and east Asian markets

  20. The European market of renewable energies; Le marche europeen des energies renouvelables

    Energy Technology Data Exchange (ETDEWEB)

    Anon.

    2011-09-15

    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{sub 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.)

  1. The European market of the wind energy and its perspectives

    International Nuclear Information System (INIS)

    Heddebaud, D.

    2005-01-01

    This study presents a whole panorama of the wind energy market and its perspectives. It proposes an analysis of the strategical place of the main manufacturers and operators and presents the activities, the key data and the development strategies of 14 wind power market operators. It aims to answer the following questions: What are the new possibilities for the mature markets? What will be the impact of the offshore wind power? What is the future of the independent manufacturers and of the industrialists? (A.L.B.)

  2. 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

  3. The European Energy Regulators Group and the realization of the internal energy market

    International Nuclear Information System (INIS)

    Lavrijssen, S.A.C.M.

    2006-01-01

    The role of the European Energy Regulators Group (ERGEG) in the realization of the internal energy market is discussed. It is concluded that the ERGEG has already achieved significant results in dealing with several complex technical and legal problems that hamper market integration in the energy sector. However, it is a fundamental problem that the ERGEG is neither an EU institution nor a national institution, resulting in a lack of its democratic accountability and in the legal protection against the actions taken by the ERGEG. Therefore, the future success of the ERGEG will depend on the ability of the European legislator to find answers to the question how to ensure that the ERGEG fulfils its tasks in a legitimate way [nl

  4. Renewable Energies and European Union Law: between (internal) market and general interest

    International Nuclear Information System (INIS)

    Alvesdu, Carlos Manuel

    2014-01-01

    The various legislative instruments of the European Union related to renewable energy illustrate the complex relationship between the market and the public interest in the EU. How does the European public power articulate the public interest and the market? Such European laws are united by the way of a dialectical common approach. Firstly, it is about using the market to achieve the public interest, namely the protection of the environment. Therefore, the promotion of renewable energies, as a public interest goal, largely depends on the market. However, the market can do wrong. When the market is insufficient, fallible, the European Union will not hesitate to intervene to inflect it, in the name of the public interest

  5. The European internal market and Nordic energy policy

    International Nuclear Information System (INIS)

    Grohnheit, P.E.; Hoier Nielsen, H.; Soerensen, H.

    1992-01-01

    The aim was to attempt to clarify the immediate consequences, and potentials for energy policy, for the authorities and supply companies in the Nordic countries in relation to the establishment of the Single Market. Potentials for the development of coordinated electricity supply and natural gas markets, and for cooperative Nordic research and initiatives are examined. Descriptions of conditions in other lands are given. It is stated that decisions on investments must now be taken within an open capital market with other traditions. There is a need for faster technology transfer. It is concluded that it will be difficult to develope trade related to natural gas between all the Nordic countries, but it should increase (also with regard to electricity) between the Nordic countries and their neighbour countries. Regarding electricity supply, lifting of existing rights of monopoly will result in weaker connections between producer and consumer and supply reliability will decrease. Natural gas supply reliability will be strengthened but producers will shoulder more market risks. Fusions will increase but a greater variation of company types and organization forms will develope. Competition will be sharper and prices for electric power could rise. Nordic energy policy will have a more international character, especially with regard to environmental protection. Long-term investment will be encouraged. The Nordic Council of Ministers will need to concentrate on information dissemination related to energy system analyses as a basis for decision-making. Export of Scandinavian hydroelectric power will contribute to international goals for environmental protection. (AB) (45 refs.)

  6. 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.

  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. 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

  9. Competition in energy markets - law and regulation in the European Union

    International Nuclear Information System (INIS)

    Cameron, Peter Duncanson; Brothwood, Michael

    2002-03-01

    Analysis of the origins, aims and implementation of the EU energy directives is essential to an understanding of the emerging internal market in energy in the European Union. This book provides a detailed and practical account of the legislation and the various developments in the Member States that are leading to a competitive energy market for the first time. It explains the legislation, EU case law and the relevant national laws, regulations and competence of the enforcing authorities. (Author)

  10. European Energy Integration in East European Countries: Real Necessity to Assure Fair Market prices for Energy Resources

    Directory of Open Access Journals (Sweden)

    Augustin IGNATOV

    2016-06-01

    Full Text Available In order to assure energy, and therefore, economic stability of East European States (hereafter EES there should be undertaken visible steps towards deeper energetic integration of the region under the coordination of EU. In such a way there will be considerably strengthened the regional economic security through creating functional mechanisms of solving current and potential energy issues including diversification of supplies and fairer market prices. Moreover, it will be possible to develop and implement more effectively energy infrastructure projects. Deeper and more functional energy integration in EES will create favorable preconditions of fostering the states’ economic development. Also, there will be considerably reduced the macroeconomic risks which could possible occur as a result of the struggle of interests of importing and supplying countries. The current paper is intended to underline the most important weaknesses in terms of energy security of EES and exemplify how efficient these problems could be tackled by cumulating common countries’ efforts in the sector. Also, it highlights the shortcomings of EU energy policy in EES and how these affect the economic prospective of the countries. Finally, it is remarked that EES need a common energy market in order to strengthen their negotiation positions in relation with supplying countries.

  11. A snapshot of the European energy service market in 2010 and policy recommendations to foster a further market development

    International Nuclear Information System (INIS)

    Marino, Angelica; Bertoldi, Paolo; Rezessy, Silvia; Boza-Kiss, Benigna

    2011-01-01

    As of 2010, the energy service market in Europe is still far from utilising its full potential. Wide-scale peer-reviewed studies investigating the development and up-to-date status of the European ESCo market are scarce. This article presents a comprehensive insight of the European ESCo industry based on the results from a large-scale survey carried out 2009-2010 in 39 European countries. The observed market development during the period 2007-2010, trends in business practices, and factors influencing the ESCo industry evolution are described. Finally, having considered the remaining barriers and the supporting factors as well as the successful experiences in Europe, policy measures that could further promote ESCo activities are proposed. - Highlights: → ESCo markets in Europe continue to show diverse stages of development. → Between 2007 and 2010 the European ESCo market underwent a slow growth. → European states have introduced favourable legislative framework for energy conservation. → Loan guarantees recognising the ESCo contractual model increase the access to finance. → Establishment of quality standards and certification schemes for ESCos are essential.

  12. Price determinants of the European carbon market and interactions with energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Schumacher, Katja; Cludius, Johanna; Matthes, Felix [Oeko Institut e.V., Berlin (Germany); Diekmann, Jochen; Zaklan, Aleksandar [Deutsches Institut fuer Wirtschaftsforschung, Berlin (Germany); Schleich, Joachim [Fraunhofer-Institut fuer Systemtechnik und Innovationsforschung (ISI), Karlsruhe (Germany)

    2012-06-15

    This report explores the determinants of short run price movements in the carbon market and their interaction with energy markets, in particular with the electricity market. Focusing on Phase 2 of the EU ETS we conduct econometric time series analysis based on continental EU and UK market data. Our findings suggest that market fundamentals have a dominant effect on the EUA price, but that non-fundamental factors may also play a role. We further found that the electricity price has a significant positive impact on the carbon price in the short run.

  13. Economics of total energy schemes in the liberalised European energy market

    Science.gov (United States)

    Lampret, Peter

    This thesis is concerned with the liberalisation of the European Energy markets and the affects this has had on total energy systems. The work concentrates on a number of case studies all of which are located in the area surrounding Gelsenkirchen - Bottrop - Gladbeck, the centre of the Ruhr region of Germany.The thesis describes briefly how the legislation of the parliament of the extended European Union has been interpreted and enacted into German legislation and its affects on production, transport, sales and customers. Primarily the legislation has been enacted to reduce energy costs by having a competitive market while enabling security of supply. The legislation whose development has accelerated since 1999 can lead to negative effects and these have been highlighted for the case studies chosen.The legislation and technological advances, each of them successful by themselves, do not provide the expected reduction of carbon dioxide emissions when applied to total energy system. The introduction of human behaviour as a missing link makes the problems evident and gives a theoretical basis to overcome these problems. The hypothesis is proven by eight detailed research projects and four concisely described ones.The base of the research is the experience gained on approximately 1,000 operation years of the simplest total energy system, that of centralised heating. This experience is transferred to different solutions for total energy systems and their economics in combination with the changing legislation and observation of human behaviour.The variety of topics of the case studies includes the production of heat by boiler, solar or combined heat and power and the use of fuel cells. Additionally the transfer of heat, at the place of demand is considered, either as an individual boiler in a building or as de-centralised district heating.The various results of these projects come together in a final project which covers four different heating systems in identical

  14. The impact of the new wave of financial regulation for European energy markets

    International Nuclear Information System (INIS)

    Nijman, Luuk

    2012-01-01

    As the financial and physical markets for energy have increasingly become intertwined, energy trade is also covered by financial legislation. The European Commission wishes to strengthen this financial regulation of energy trade. It has put forward a set of regulatory proposals aimed at stabilizing financial markets and limiting volatility of energy prices. The most noteworthy are EMIR, MAD, REMIT and the revised MiFID. Key elements are transparency, new trading venues, central clearing obligations and mandatory transaction reporting. This article evaluates the likely outcomes for energy markets, given the new incentives for market parties. It argues that although there is no ground to exempt particular energy market participants such as energy companies from financial legislation, increased regulation will not necessarily bring about the effects the Commission desires. The causal link between derivatives trading and volatility of energy prices is not known precisely and many of the economic effects of the proposed legislation are theoretically and empirically ambiguous. Moreover, potentially conflicting instruments and objectives risk policy inconsistency. - Highlights: ► The European Commission has put forward a set of financial legislation to stabilize both financial markets and energy prices. ► This article assesses the impact of this financial regulation on energy markets. ► It shows that the theoretical and empirical effects of key elements in this legislation are ambiguous. ► It argues that, if enacted, particular market parties such as energy companies should not be exempted. ► It concludes that this set of legislation will not necessarily bring about the effects the Commission desires.

  15. 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

  16. International Rivalry In The Energy Sector: The Eastern European Market Of Atomic Energy In Focus

    Directory of Open Access Journals (Sweden)

    Y. V. Borovsky

    2017-01-01

    Full Text Available In the post-bipolar world nuclear power has become one of the areas of competition and rivalry betweenRussiaand the West. The comprehensive analysis of theoretical publications allows us to consider international competition as an abstract, depoliticized contest of states and other international actors (including companies for some limited (mainly economic benefits. International rivalry is more a political process, necessarily involving some rival pairs of states (or groups of states that compete with each other not only to get some benefits, but to expand their territory or power. The competition and rivalry betweenRussiaand the West in the sphere of nuclear power are especially apparent in the Eastern European region where the American, European and Japanese corporations, with the support of the Western foreign ministries and EU institutions, try to achieve two main goals. The first goal is to win the contracts to build new power units, especially in tenders where Rosatom participates. The second goal is to become suppliers of nuclear fuel for multiple Russian- or Soviet-made VVER-type reactors, which are functioning or will be run in a number of countries in the region (Slovakia,CzechRepublic,Hungary,Bulgaria, andUkraine. Such activities can involve high risks. The West’s efforts to curb the dominant position of "Rosatom" inEastern Europeare formally associated with the need to create a "competitive market" of nuclear services in the region and to ensure the European energy security. It is also noteworthy that the expansion of Rosatom (and its predecessors to foreign markets, including Eastern Europe, is actively supported by the Russian state which in the second half of the 1990s – after a failed attempt of following in the footsteps of the West – joined in the rivalry, mostly imposed by the U.S. and their allies. As shown by the analysis,Russiaand the West, primarily theUnited States, are involved in the nuclear power sector to

  17. The pivotal role of TSOs in European energy market integration

    International Nuclear Information System (INIS)

    2015-05-01

    Concerns about environmental sustainability and dwindling supplies of conventional fossil fuels are prompting ever stronger interest in greener sources of energy. But the development and exploitation of renewable and dynamic sources takes time and necessitates the seamless integration of new infrastructure into existing power grids. At the same time, transmission system operators (TSOs) are duty-bound to maintain and expand these grids and have the financial resources to meet these obligations. Meanwhile, consumers' top priorities are security of supply, competitive pricing and safety. In France, some transmission lines are impacted by cross-border exchanges on the Franco-Belgian and Franco-German borders. Therefore, in the available transfer capacity (ATC) model, the allocable capacity at one of these borders has to be chosen before the allocable capacity at the second one can be deduced. The algorithm in Flow-Based makes this choice automatically, depending on where the capacity is most urgently needed

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

    OpenAIRE

    Eid, Cherrelle; Bollinger, L. Andrew; Koirala, Binod; Scholten, Daniel; Facchinetti, Emanuele; Lilliestam, Johan; Hakvoort, Rudi

    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 concentrates competition at the wholesale level, local energy management at the distribution level is likely to impose new roles and responsibilities on existing and/or new actors. This paper prov...

  19. 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)

  20. The liberalization of the European energy market from the perspective of the Austrian regional power company

    International Nuclear Information System (INIS)

    Sander, H.

    1999-01-01

    This dissertation addresses the liberalization of the European energy sector from an Austrian perspective, emphasizing its effect on a regional power company (KELAG). The energy market's changing conditions are creating new opportunities for consumers that allow them to optimize their ability to fulfill their power requirements. Decentralized solutions are now just as viable for large industrial customers as the ability to have all energy supplied through the utility network. In addition, partnerships with independent power producers (IPP's) or cooperation between the large customers in energy production can be considered. From a regional perspective, the central management concept of KELAG is the answer to an altered market situation, since this concept created tremendous potential for streamlining the management of energy production and operation of the network. The liberalization of the energy market for large industrial customers in Carinthia's electricity sector was preceded by a series of important decisions. The Verbundgesellschaft combine their generating facilities. In the future the power plants of Draukraft in Carinthia will be supervised and controlled remotely from KELAG's central control unit in Klagenfurt, as a result of which the central control unit becomes the primary energy control for Carinthia. (author)

  1. The European Coal Market: Will Coal Survive the EC's Energy and Climate Policies?

    International Nuclear Information System (INIS)

    Cornot-Gandolphe, Sylvie

    2012-01-01

    conventional reserves of fossil fuels. Coal contributes to the economic activity and employment in the region. The EU mining industry employs 260,000 workers (direct jobs) and the turnover of the whole coal industry is estimated at Euros 25 billion a year. Coal prices, despite their rising trend in the past few years, are much lower than competing fuels: half the price of natural gas imported in Europe. As coal ensures safe, reliable, affordable and sustainable energy for all, it will be very much needed in the years to come. However, coal is proscribed in a CO 2 -free environment. Its combustion in thermal power plants - its main outlet in Europe - emits twice as much CO 2 as gas plants. Although a lot of R and D work is done to capture CO 2 emissions from coal plants and store it, no zero emission commercial plants have yet started operation. Several CCS projects have been delayed, or even cancelled, in the past few years due to regulatory uncertainties, a lack of funding and public opposition to CO 2 storage. The current European economic crisis and the large sovereign debts have also reduced public funding in CCS projects. The future of coal in Europe is therefore very uncertain. Will CCS development allows it to remain a fuel of choice, given large available reserves at low prices, compared with competing energy sources? Or will coal disappear from the European energy mix? How fast will the decline in European coal production be? This report looks at these issues and highlights some facts, trends and regulation that may affect the supply and demand of coal in the future. The analysis concentrates on steam coal used to generate electricity, since the power generation sector is by far the largest user of coal in Europe. The first part of this report looks at the European coal market region-wide. Chapter 1 describes the EU coal market in the global context. Chapter 2 analyses the significance of the European coal mining industry and its future after the end of state aid

  2. The european union emission trading scheme and energy markets: economic and financial analysis

    International Nuclear Information System (INIS)

    Bertrand, Vincent

    2012-01-01

    This thesis investigates relationships between the European Union Emission Trading Scheme (EU ETS) and energy markets. A special focus is given to fuel switching, the main short term abatement measure within the EU ETS. This consists in substituting Combined Cycle Gas Turbines (CCGTs) for hard-coal plants in off-peak power generation. Thereby coal plants run for shorter periods, which allows power producers to reduce their CO 2 emissions. In Chapter 1, we outline different approaches explaining relationships between carbon and energy markets. We also review the literature relating to these issues. Next, we further describe the fuel switching process and, in particular, we analyze the influence of energy and environmental efficiency of thermal power plants (coal and gas) on fuel switching. In Chapter 2, we provide a theoretical analysis that shows how differences in the efficiency of CCGTs can rule interactions between gas and carbon prices. The main result shows that the allowance price becomes more sensitive to the gas price when the level of CO 2 emissions increases. In Chapter 3, we examine interactions between carbon, coal, gas and electricity prices in an empirical study. Among the main results, we find that there is a significant link between carbon and gas prices in the long-run equilibrium. In Chapter 4, we analyze the cross-market price discovery process between gas and CO 2 markets. We identified in previous chapters that there is a robust significant link between gas and CO 2 markets. They are linked commodities, and their prices are affected by the same information. In an empirical analysis, we find that the carbon market is the leader in cross-market price discovery process. (author)

  3. 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

  4. European Energy Markets Observatory. 2007 and Winter 2007/2008 Data Set

    International Nuclear Information System (INIS)

    2008-11-01

    Launched in 2002, with the primary objective to assess the progress of deregulation in the European Member States, the report now tackles all the major issues faced by the Utilities industry and analyses its main indicators. This allows to monitor the supply and demand balance, measure the progress in establishing a European integrated market and follow the advancement of competition. The report scans all the segments of the value chain and analyses the hot topics of the moment (impact of the crisis on the sector, increase of the energy prices, nuclear, security of supply, renewables, climate change issues, CO2 emissions, end-users' tariffs, etc.), to identify the key trends of the electricity and gas industries. This is the 10th edition.

  5. European Energy Markets Observatory. 2008 and Winter 2008/2009 Data Set

    International Nuclear Information System (INIS)

    2009-11-01

    Launched in 2002, with the primary objective to assess the progress of deregulation in the European Member States, the report now tackles all the major issues faced by the Utilities industry and analyses its main indicators. This allows to monitor the supply and demand balance, measure the progress in establishing a European integrated market and follow the advancement of competition. The report scans all the segments of the value chain and analyses the hot topics of the moment (impact of the crisis on the sector, increase of the energy prices, nuclear, security of supply, renewables, climate change issues, CO2 emissions, end-users' tariffs, etc.), to identify the key trends of the electricity and gas industries. This is the 11th edition.

  6. European Energy Markets Observatory. 2009 and Winter 2009/2010 Data Set

    International Nuclear Information System (INIS)

    2010-11-01

    Launched in 2002, with the primary objective to assess the progress of deregulation in the European Member States, the report now tackles all the major issues faced by the Utilities industry and analyses its main indicators. This allows to monitor the supply and demand balance, measure the progress in establishing a European integrated market and follow the advancement of competition. The report scans all the segments of the value chain and analyses the hot topics of the moment (impact of the crisis on the sector, increase of the energy prices, nuclear, security of supply, renewables, climate change issues, CO2 emissions, end-users' tariffs, etc.), to identify the key trends of the electricity and gas industries. This is the 12th edition.

  7. Stepping stones to significant market shares for renewables. The European forum for market players and decision makers in the renewable energy industry

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    This invitation to a two-day European Forum for market players and decision makers in the renewable energy business lists the presentations made at the conference in 2007. The programme included contributions in the following areas: Policies and market deployment initiatives, market trends and experience - from support schemes to market experience, opportunities in a changing framework in Switzerland, instruments and infrastructure requirements - how to make the market work and supply and demand aspects of a growing market. The conference examined how renewable forms of energy can gain significant market shares and reach a quota of 50% renewables in 50 years. The first session examined policies and market deployment initiatives, the second market trends and experiences, the third opportunities for Switzerland in a changing framework. The second day featured sessions on instruments and infrastructure requirements as well as on supply and demand aspects in a growing market. The conference was complemented with four workshops.

  8. Stepping stones to significant market shares for renewables. The European forum for market players and decision makers in the renewable energy industry

    International Nuclear Information System (INIS)

    2007-01-01

    This invitation to a two-day European Forum for market players and decision makers in the renewable energy business lists the presentations made at the conference in 2007. The programme included contributions in the following areas: Policies and market deployment initiatives, market trends and experience - from support schemes to market experience, opportunities in a changing framework in Switzerland, instruments and infrastructure requirements - how to make the market work and supply and demand aspects of a growing market. The conference examined how renewable forms of energy can gain significant market shares and reach a quota of 50% renewables in 50 years. The first session examined policies and market deployment initiatives, the second market trends and experiences, the third opportunities for Switzerland in a changing framework. The second day featured sessions on instruments and infrastructure requirements as well as on supply and demand aspects in a growing market. The conference was complemented with four workshops.

  9. RE-Shaping. Shaping an effective and efficient European renewable energy market. D23 Final Report

    Energy Technology Data Exchange (ETDEWEB)

    Rathmann, M.; Klessmann, C.; Nabe, C.; De Jager, D.; De Lovinfosse, I. [Ecofys, Utrecht (Netherlands); Ragwitz, M.; Steinhilber, S.; Breitschopf, B. [Fraunhofer Institute for Systems and Innovation Research ISI, Karlsruhe (Germany); Burgers, J.; Boots, M. [KEMA, Arnhem (Netherlands); Weoeres, B. [EnergoBanking, Budapest (Hungary); Resch, G.; Panzer, C.; Ortner, A.; Busch, S. [Vienna University of Technology, Institute of Energy Systems and Electric Drives, Energy Economics Group EEG, Vienna (Austria); Neuhoff, K.; Boyd, R. [Climate Policy Initiative, German Institute for Economic Research (DIW Berlin), Berlin (Germany); Junginger, M.; Hoefnagels, R. [Utrecht University, Utrecht (Netherlands); Cusumano, N.; Lorenzoni, A. [Bocconi University, Milan (Italy); Konstantinaviciute, I. [Lithuanian Energy Institute LEI, Kaunas (Lithuania)

    2012-02-15

    The core objective of the RE-Shaping project is to assist Member State governments in preparing for the implementation of Directive 2009/28/EC (on the promotion of the use of energy from renewable sources) and to guide a European policy for RES (renewable energy sources) in the mid- to long term. The past and present success of policies for renewable energies will be evaluated and recommendations derived to improve future RES support schemes. The core content of this collaborative research activity comprises: Developing a comprehensive policy background for RES support instruments; Providing the European Commission and Member States with scientifically based and statistically robust indicators to measure the success of currently implemented RES policies; Proposing innovative financing schemes for lower costs and better capital availability in RES financing; Initiation of National Policy Processes which attempt to stimulate debate and offer key stakeholders a meeting place to set and implement RES targets as well as options to improve the national policies fostering RES market penetration; Assessing options to coordinate or even gradually harmonize national RES policy approaches. This report marks the end of the research project RE-Shaping and summarizes its research activities, results, and recommendations.

  10. Competitiveness and potentials of UCG-CCS on the European energy market

    Science.gov (United States)

    Kempka, T.; Nakaten, N.; Schlüter, R.; Fernandez-Steeger, T.; Azzam, R.

    2009-04-01

    The world-wide coal reserves can satisfy the world's primary energy demand for several hundred years. However, deep coal deposits with seams of low thickness and structural complexity do currently not allow an economic exploitation of many deposits. Here, underground coal gasification (UCG) can offer an economical approach for coal extraction. The intended overall process relies on coal deposit exploitation using directed drillings located at the coal seam base and the subsequent in situ coal conversion into a synthesis gas. The resulting synthesis gas is used for electricity generation in a combined cycle plant at the surface. A reduction of the CO2 emissions resulting from the combined process is realized by subsequent CO2 capture and its injection into the previously gasified coal seams. The scope of the present study was the investigation of UCG-CCS competitiveness on the European energy market and the determination of the impacting factors. For that purpose, a modular model for calculation of UCG-CCS electricity generation costs was implemented and adapted to the most relevant process parameters. Furthermore, the range of energy supply coverage was estimated based on different German energy generation scenarios.

  11. The integration of Chinese and European renewable energy markets: The role of Chinese foreign direct investments

    International Nuclear Information System (INIS)

    Lv, Ping; Spigarelli, Francesca

    2015-01-01

    In the renewable energy (RE) sectors, foreign direct investments are becoming an important mean of regional integration between China and Europe, as a result of the combined effect of Europe–China dialog on energy issues; Chinese energy policy; and Chinese Go Global policy. Using a firm level data set from the Chinese Ministry of Commerce, we perform an analysis on location choice by Chinese RE firms from 2004 to 2013, within Europe. We depict a map of “where to where” (home province vs. host country) and “who to where” (firm level characteristics vs. host country), to find out how characteristics of home and host regions affecting the integration of Chinese and European RE markets. Main results are the following. Investment pairs in RE sectors reflect a duality: firms tend to seek countries with similar institutional environment, compared with their origin regions. Countries with weak and immature institutions are attractive for immature and inexperienced Chinese firms. Main features of Chinese investors are the following: private, non-listed firms, entering through greenfield, focusing on sales. Market-seeking investors tend to enter countries with both well-developed institutional environment and industry development base. R&D-oriented investments are more likely to flow to countries with well-developed institutional environment. -- Highlights: •A map of Where to Where of Chinese investments in Europe is depicted. •Characteristics of home and host regions affect Chinese integration in Europe. •Investment pairs in renewable energy sectors reflect a duality. •Chinese firms localize in EU countries with similar institutional environment. •Through a Who to Where analysis, key features of Chinese investors are outlined

  12. Economic analysis of the expected environmental impact of the Single European Market through the transport, waste and energy sectors

    International Nuclear Information System (INIS)

    Brutscher, S.

    1993-01-01

    Similarly to other studies the present dissertation presupposes that the Single European Market will lead to an increase in transport waste quantities, and energy consumption and consequently to greater environmental pollution. Of central importance here is the concept of ''expletive costs'' introduced in this paper which describes that damage to the natural and human environment which is not compensated. It forms out that the sectors of transport, waste, and energy alone will most probably send the expletive costs of the Single European Market into astronomic dimensions. In view of the interdependencies of these three sectors it seems doubtful whether the economic benefit to be expected from the establishment of the Single European Market can justify the additional environmental damage thus caused. (HP) [de

  13. Integrated energy markets and varying degrees of liberalisation: price links, bundled sales and CHP production exemplified by Northern European experiences

    International Nuclear Information System (INIS)

    Jacobsen, H.K.; Fristrup, P.; Munksgaard, J.

    2006-01-01

    Liberalisation of energy markets has during the last 20 years been gradually introduced in many countries. The liberalisation has led to concerns regarding the markets' state of competition and fears that market power existence can result in less efficiency gains than what is expected from liberalisation. Concerns have also been raised as to whether specific consumer groups will be affected by limited competition in markets. Much of the concern has been concentrated on the electricity markets, but the development of energy sectors with integration of activities within natural gas, electricity and the oil sector creates the need to examine market power aspects across these markets. This paper examines the concentration trends in the Northern European markets for electricity and natural gas, combined with regional district heating aspects, especially with respect to the situation in Denmark. The situation with natural gas companies supplying to both small-scale CHP and to retail heat customers is discussed, for instance, which changes of regulatory regime for domestic heating customers should be considered when the natural gas market is being liberalised? The interlinked nature of the energy markets is described and examples of impacts from one market with limited competition to other markets with seemingly well-functioning competition are given. The specific case of large CHP production facilities with output on the regulated district heating market and the competitive Nordic electricity market is examined. How much of the fluctuations in price experienced in electricity markets should be reflected in the price of heating supplies? To which degree do the heating customers have to bear the burden of low-electricity market prices? Regulation of liberalised markets is discussed focusing on the interaction between one regulated market and the related energy markets that are liberalised. Existing regulation on the markets are compared to a situation where liberalisation

  14. Integrated energy markets and varying degrees of liberalisation: Price links, bundled sales and CHP production exemplified by Northern European experiences

    International Nuclear Information System (INIS)

    Klinge Jacobsen, Henrik; Fristrup, Peter; Munksgaard, Jesper

    2006-01-01

    Liberalisation of energy markets has during the last 20 years been gradually introduced in many countries. The liberalisation has led to concerns regarding the markets' state of competition and fears that market power existence can result in less efficiency gains than what is expected from liberalisation. Concerns have also been raised as to whether specific consumer groups will be affected by limited competition in markets. Much of the concern has been concentrated on the electricity markets, but the development of energy sectors with integration of activities within natural gas, electricity and the oil sector creates the need to examine market power aspects across these markets. This paper examines the concentration trends in the Northern European markets for electricity and natural gas, combined with regional district heating aspects, especially with respect to the situation in Denmark. The situation with natural gas companies supplying to both small-scale CHP and to retail heat customers is discussed, for instance, which changes of regulatory regime for domestic heating customers should be considered when the natural gas market is being liberalised? The interlinked nature of the energy markets is described and examples of impacts from one market with limited competition to other markets with seemingly well-functioning competition are given. The specific case of large CHP production facilities with output on the regulated district heating market and the competitive Nordic electricity market is examined. How much of the fluctuations in price experienced in electricity markets should be reflected in the price of heating supplies? To which degree do the heating customers have to bear the burden of low-electricity market prices? Regulation of liberalised markets is discussed focusing on the interaction between one regulated market and the related energy markets that are liberalised. Existing regulation on the markets are compared to a situation where liberalisation

  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. 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...

  17. Energy market reform in Europe. European energy and climate policies: achievements and challenges to 2020 and beyond

    International Nuclear Information System (INIS)

    2015-01-01

    Since the 1992 Earth Summit in Rio and the negotiation of the United Nations Framework Convention on Climate Change (UNFCCC), the European Union has consistently been at the forefront of global action to combat climate change, leading the world to a low-carbon economy. The EU has set itself greenhouse gas emission targets designed to produce an almost carbon-free economy by 2050 in order to make a major contribution to limiting the global temperature increase by the end of the century to 2 deg. C, compared to the pre-industrial average. As an interim step on the way to 2050, EU leaders in March 2007 set a number of ambitious climate and energy targets known as the '20-20-20 targets by 2020' or the 3 x 20 policy. In this, the EU committed to: - A 20% reduction in EU greenhouse gas emissions from 1990 levels; - Raising the share of EU energy consumption produced from renewable resources to 20%; and - A 20% improvement in the EU's energy efficiency. This 3 x 20 package is a part of a wider European energy strategy that aims at enhancing: - Sustainability; - Competitiveness and affordability; and - Security of supply. The EU energy and climate package has attracted criticism in the last few years, as each day brought more evidence that the policy measures had numerous unexpected, or unintended impacts on the energy markets and industry: an excess of intermittent sources of electricity causing disruption for grid operators, surplus electricity resulting in a price collapse of the wholesale electricity market, electricity price increase at retail level, exit of gas from the fuels for power generation and the advent of coal as an electricity price-setter... At the same time, it has also become evident that EU policy has failed to solve the existing EU energy imbalances in general. Ironically, after years of huge investments aimed at achieving the ambitious policy targets, a number of the objectives still seem to be a long way away. Indeed some may not even

  18. The political importance of energy cooperation between Germany and Denmark on the European Union energy market

    OpenAIRE

    Ruszel Mariusz

    2016-01-01

    Denmark and Germany have similar goals of energy transition. Both states are going to implement a policy that is aimed at the transition from a fossil fuel-based system towards a renewable energy system with variable renewables generation. The main objective of the German energy transition is to cover more than 80% of the energy consumption with renewables by 2050. For comparison, Denmark is going to build a fossil fuel-free system, which would be able to cover 100% of energy consumption with...

  19. The future of the Europe of energy: towards the domestic energy market; network codes: where are we; the gas infrastructure European grid, which ambitions for 2030?; Action to boost the carbon market; LPG in Europe

    International Nuclear Information System (INIS)

    Anon.

    2014-01-01

    A set of articles first discusses the perspective of creation of a European domestic energy market which appears in the elaboration of the French energy policy, whereas industrial actors are still reluctant. The second article briefly comments the progress in the elaboration of common rules by the European Union for the creation of this European energy domestic market, i.e. the network codes. The third article addresses the common projects of energy infrastructures presented by the European Commission in 2013: about half of these projects are concerning gas infrastructures, and could be quickly achieved. The next article discusses the proposals and reactions about the strategic framework presented in January 2014 by the European Commission for 2030. An article briefly presents measures taken to boost the carbon emission trading scheme. The last article addresses the evolution of the LPG market in Europe, and outlines that its development potential is still under-exploited

  20. Tendances Carbone no. 81 'The EU ETS as bellwether of a flawed European Internal Energy Market'

    International Nuclear Information System (INIS)

    Bressand, Albert

    2013-01-01

    Among the publications of CDC Climat Research, 'Tendances Carbone' bulletin specifically studies the developments of the European market for CO 2 allowances. This issue addresses the following points: - The EU ETS verified emissions: 1,950 MtCO 2 in 2012, i.e. a 2% fall compared with 2011 and a 13.5% fall compared with 2008. Phase 2 compliance: an excess amount of 1,425 Mt including the use of 1,059 million international credits. - Back-loading: the European Parliament's ENVI Commission will vote again on 19 June. - Competitiveness: the European Commission is launching a consultation process regarding a review of the list of sectors exposed to carbon leakage for the period between 2015 and 2019

  1. The assets of nuclear energy on the European market of energy

    International Nuclear Information System (INIS)

    Carlier, P.

    2000-01-01

    This article presents the industrial strategy of EDF. The French production of electricity is essentially based on nuclear energy. The costs of the installations are partially amortized and the investment represent no more than 28% of the production cost, this percentage is due to decrease by half by 2005. The cost of nuclear KWh covers the future charges such as dismantlement, reprocessing or waste storage, so EDF can propose to its customers a long term stability of prices. Today, on a world scale the trend is to favour combined cycle gas mode for electricity production. The cost of gas is low but the price of gas-produced KWh does not take into account the impact on environment, new regulations following from Kyoto agreement might change that. (A.C.)

  2. Assets and place of nuclear power on the European energy market

    International Nuclear Information System (INIS)

    Damianov, S.; Giger, F.

    2001-01-01

    In the current context of falling prices, nuclear power proves competitive and this will only progress in the coming years. For the future, nuclear power must draw on two assets, namely environment and economy. It offers a reliable and stable procurement policy, with both security and energy independence. As a matter of fact, only nuclear power may guarantee stable prices over the long term. Other energy sources are branded by a high volatility in prices. And this volatility has a price in itself: customers are obliged to hedge their risk exposure with financial tools. It remains to be assessed what will be the share of these risk-coverage tools in the various energy offers, and what amounts the customers will be ready to pay for their risk-exposure. All the above being economical scenarios in a newly emerging and fluctuating market, where forecasts and market trending are still relatively doubtful. (author)

  3. 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...

  4. The relevance of US experience to the completion of the European internal energy market for natural gas

    Energy Technology Data Exchange (ETDEWEB)

    Wood-Collins, John [Little (Arthur D.), Inc., London (GB); Lee, William [Shearman and Sterling, Paris (FR)

    1990-01-01

    The European Commission's 1988 document on the completion of the internal energy market made a number of recommendations which, if adopted, would significantly affect the European natural gas industry. These were principally that: user's access to transmission systems should be facilitated, in order to permit them direct access to suppliers; greater price transparency should be encouraged, to remove competitive distortions; and fiscal harmonisation should be accelerated, in order to ''level the playing field'' between industrial users in different countries. Advocates of ''open access'' or ''common carriage'', i.e. of a system under which owners of gas pipeline and storage facilities would have a legal obligation to provide transportation and related services to third parties for a specific fee, have argued that adoption of a US-style regulatory system could improve the efficiency of European markets by removing anti-competitive practices. The purpose of this article is to review the arguments on both sides and, in particular, to consider whether US experience may be a relevant model for European authorities to adopt. (author).

  5. The European single market of energy faced with conventional supply safety concepts

    International Nuclear Information System (INIS)

    Belyi, A.

    2004-01-01

    By analysing the context of the creation of the Single Energy Market, this article tries to understand the logic behind the coexistence of two energy safety concepts: (1) the financial gains of international trading; (2) the protection against supply shortage risks using domestic self-sufficiency policies. Both concepts are based on an informative context conditioned by the two crises, which mainly impact the security perceptions of today: the oil crisis in the seventies and the Californian crisis in 2001. They are based on opposite factors: anti-market behaviour in the first case and excessive competition in the second case. The nature of liberalization, of the relation-ship with non-EU producing countries and the perception of the dangers are inherent to such an informative context. (author)

  6. 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)

  7. 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

  8. The political economy of energy use and pollution: the environmental effects of East-European transition to market economy

    Energy Technology Data Exchange (ETDEWEB)

    Midttun, A.; Chander, I. [Norwegian School of Management, Sandvicka (Norway)

    1998-11-01

    The transition of Eastern Europe to Western-type liberal capitalism has been interpreted as an important step towards a more ecologically sustainable Europe. The main argument has been that the energy efficiency of the West-European economy will be imported to Eastern Europe and lead to lower energy consumption and lower pollution. This line of argumentation seems sound as far as the industrial sector is concerned. However, it does not take into consideration the energy and pollution bill of the lavish lifestyle of modern consumer-oriented societies. A shift away from the moderate private consumption of East-European Communism, towards the Western consumerist lifestyle may diminish or even abolish the positive ecological effects of the East-European transition to a competitive market economy. The article explores energy consumption and pollution patterns of Eastern and Western Europe both as far as industrial and domestic end-user consumption is concerned. The article argues that these patterns are related to basic characteristics of the communist and capitalist systems and that pollution and energy use are fundamentally conditioned by the overall political economy. 18 refs., 14 figs., 1 tab., 1 app.

  9. Gazprom on the European Market: In Search of the Balance between the Principles of Competition and Energy Security

    Directory of Open Access Journals (Sweden)

    Valery I. Salygin

    2014-01-01

    Full Text Available The article analyses the position of Gazprom on the key export market - the market of the European Union. Situation on the EU gas market changed considerably because of an imbalance between supply and demand. Gazprom had to make price concessions for almost all of the main consumers of Russian gas in Europe, and also had to allow European consumers to break one of the key provisions of long-term contracts - "take or pay" clause. Besides disputes at the corporate level significant differences still remain about the well-known Third energy package, which effectively prohibits Gazprom to own and operate gas pipelines on the territory of the EU, as well as binding it to provide a third party access to gas pipelines. The implementation of Third package provisions on function unbundling by some EU Member States in the most rigid version may contradict bilateral international agreements of Russia with the EU Member States, primarily agreements on investment protection. Possible reasons underlying the investigation initiated by the European Commission against Gazprom in connection with a possible violation ofEU competition rules are examined. The paper investigates legal, political and economic aspects of contemporary regime of gas cooperation, particularly restriction of reexport, linkage between gas and oil prices, pricing based on long-term contracts and spot markets. The paper concludes that Russia and the EU need to elaborate a comprehensive document that would ensure the stability of the regulatory environment of energy cooperation and would reflect the balance of interests of producers and consumers. This document should equally ensure highly competitive environment and guarantees of security of supply in the short and long term.

  10. 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

  11. 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)

  12. Nuclear energy in Italy between utopia and reality: Perspectives for the future within the framework of the European Internal Market

    International Nuclear Information System (INIS)

    Mezzetti, L.

    1991-01-01

    The decision to do without nuclear energy has been made without there being an equivalent, realistic, and convincing alternative. The whole experience with the plebiscites of 1987 seems to be characterized by problematic elements from a political as well as a judicial point of view. With the Internal Market of 1992 coming nearer, the following becomes acute: Italian 'energy mechanisms' have to be adopted quickly to those of other member states. This means that the differences which characterize the internal situation have to be continuously decreased by coordinating the Italian energy policy along the lines of the latest targets of European energy policy. This can only be achieved if there are changes in the field of governmental intervention. (orig./HSCH) [de

  13. Energy market as a non-food application for European agriculture

    International Nuclear Information System (INIS)

    Sipilae, K.

    1993-01-01

    Sustainable non-food cropping systems for arable land are being studied intensively both in Scandinavia and elsewhere in Europe to find alternatives, in which the need for economic subvention would be lower than the export subsidies for grain or other food products. The area of arable land available for non-food cultivation is about 1 million hectares in Finland and 20 - 30 million hectares in the European Communities. In addition to conventional crops and afforestatation, it is possible to grow energy plants (willow, poplar, miscanthus, etc.) and agrofibre plants in these areas. Cultivation of energy willows or other corresponding plants of less than 5 m in height is usually not considered afforestation, as a willow field can easily be retaken into agricultural use with certain reservations (e.g., covered drains can be clogged) This article gives a survey of the alternatives for the utilization of non-food cropping systems

  14. The common market for energy - constraints imposed by the laws of the European Communities

    International Nuclear Information System (INIS)

    Ipsen, K.

    1992-01-01

    Energy politics and environmental politics within the European Communities stand in an interdependent relationship that will increasingly manifest itself in the communal legal system, thus displacing the national legal systems of the EC member states. However, both these political fields bear numerous problems in the EC. The purpose of the paper is to delineate those concerning the sector of energy politics. It deals with the premises and the historical development of energy politics within the EC, the current energy-political position of the EC, the instruments provided by the communal laws for enforcing agreements and the ''Century Contract'' as an example showing the limits of these instruments. It appears that the ''Fourth Action Campaign for Environmental Protection'' of the EC merely addresses problematic issues instead of pointing out possible solutions. It thus becomes clear that in the near future the incorporation of ecopolitics into an EC energy policy will only make it more difficult to find a consensus. It is of existential importance that this task should be solved. (orig./HSCH) [de

  15. 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

  16. European municipalities and the liberalized energy market; Les municipalites europeennes et le marche liberalise de l'energie

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    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. 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

  18. National capacity mechanisms in the European internal energy market: Opening the doors to neighbours

    International Nuclear Information System (INIS)

    Mastropietro, Paolo; Rodilla, Pablo; Batlle, Carlos

    2015-01-01

    After decades of strong opposition, several European countries are now in the process of implementing some kind of Capacity Remuneration Mechanism (CRM). Unfortunately, these national initiatives seem to aim at energy autarky rather than seeking a wider regional coordination. This situation can significantly affect the potential benefits of an integrated long-term expansion of the European power system. In this paper the regulatory basis for the effective participation of foreign agents in national CRMs is discussed. The authors support that two pillars are required: (1) stronger coordination among TSOs and respect for the Security of Supply Directive and (2) introduce a particular type of firm cross-border nominations associated to the CRMs commitments. These proposed nominations are to be considered only in situations of system stress. As discussed here, this allows not requiring any type of ex-ante cross-border capacity reservation, thus avoiding many of the inefficiencies associated to traditional physical bilateral contracts. -- Highlights: •We discuss the regulatory basis for the effective participation of foreign agents in national CRMs. •Stronger coordination among TSOs and respect for the Security of Supply Directive is required. •A new type of firm cross-border nominations linked to the CRMs commitments should be introduced. •These proposed nominations are to be considered only in situations of system stress. •No ex-ante cross-border capacity reservation would be needed

  19. Stochastic volatility and multi-dimensional modeling in the European energy market

    Energy Technology Data Exchange (ETDEWEB)

    Vos, Linda

    2012-07-01

    In energy prices there is evidence for stochastic volatility. Stochastic volatility has effect on the price of path-dependent options and therefore has to be modeled properly. We introduced a multi-dimensional non-Gaussian stochastic volatility model with leverage which can be used in energy pricing. It captures special features of energy prices like price spikes, mean-reversion, stochastic volatility and inverse leverage. Moreover it allows modeling dependencies between different commodities.The derived forward price dynamics based on this multi-variate spot price model, provides a very flexible structure. It includes cotango, backwardation and hump shape forward curves.Alternatively energy prices could be modeled by a 2-factor model consisting of a non-Gaussian stable CARMA process and a non-stationary trend models by a Levy process. Also this model is able to capture special features like price spikes, mean reversion and the low frequency dynamics in the market. An robust L1-filter is introduced to filter out the states of the CARMA process. When applying to German electricity EEX exchange data an overall negative risk-premium is found. However close to delivery a positive risk-premium is observed.(Author)

  20. 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)

  1. 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

  2. The European wind energy programmes

    International Nuclear Information System (INIS)

    Beurskens, H.J.M.; Lalas, D.

    1993-01-01

    A general review is given of national wind energy programmes in European countries. First, tendencies of the past wind energy programmes are described and linked to the present developments. Not only the separate aspects are reviewed (R+D, wind turbine development, market stimulation, utility involvement, regulatory issues and operational experiences), but also the synergetic aspects of their integration is addressed. The main conclusion is that the integration of R+D, industrial development and market stimulation works. 4 ills., 3 tabs

  3. 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

  4. Energy Choices. Energy markets; Vaegval Energi. Energimarknader

    Energy Technology Data Exchange (ETDEWEB)

    Damsgaard, Niclas (Econ Poeyry AB, Stockholm (Sweden))

    2008-12-15

    Each of the major energy markets for oil, coal, natural gas, biofuels and electricity has its own character. But markets are dependent on each other in an often complicated way. This interconnection has become even more complex since the market for emissions trading began in Europe in 2005. This report describes the current situation of the different energy markets but also the relationships between them, and some possible future scenarios. The oil market is global, but is dominated by a few producing countries. Coal is traded on the international market with good competition and over time probably a stable price. Other markets are more regional or even local. One example is the natural gas market. In the current situation of natural gas is not particularly important for Sweden's energy supply, but very much so in a European perspective. There may be repercussions also in Sweden. The gas price ups and downs are important for the price of emission rights and electricity. Biofuel markets ranging from global markets, such as ethanol, to regional or local markets, depending on processing. Only with the creation of a single trading venue, Nordpool was a common pricing of electricity possible in the Nordic region. In the near future we will have a common electricity market covering at least the Nordic region and northwestern Europe. This does not mean that prices will become equalized, for that further expansion of the transmission capacity is needed. It is possible to imagine several scenarios for future energy markets, but the interaction between the different markets will persist. To develop appropriate instruments is of great importance to achieve the political objectives in the energy field the next decade

  5. Nuclear energy: the European way

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    The dossier published in this issue deals with the present and future situation of nuclear energy in Europe. What could be the trends of the nuclear development in the Europe of tomorrows. That global question is answered by pointing out the different data related to the present state of european nuclear programmes. Such an overview is followed by a serie of articles dealing with definite items: the actions implemented by the European Communities Commission: the electricity market and EDF policy in the field of european electric grids; the trends of nuclear cycle industry and the perfecting of the future european nuclear reactor

  6. European Home Energy

    DEFF Research Database (Denmark)

    Tommerup, Henrik M.

    2009-01-01

    An important aim of the european energy performance of buildings directive is to improve the overall energy efficiency of new homes......An important aim of the european energy performance of buildings directive is to improve the overall energy efficiency of new homes...

  7. European Utility Requirements: European nuclear energy

    International Nuclear Information System (INIS)

    Komsi, M.; Patrakka, E.

    1997-01-01

    The work procedure and the content of the European Utility Requirements (EUR) concerning the future LWRs is described in the article. European Utility Requirements, produced by utilities in a number of European countries, is a document specifying the details relating to engineered safety, operating performance, reliability and economics of the reactors to be built by manufacturers for the European market

  8. 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

  9. 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

  10. 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

  11. Towards a Pan-European energy balancing market : exercise on coupling the United Kingdom and continental Europe

    NARCIS (Netherlands)

    Escudero Concha, C.; Haan, de J.E.S.; Virag, A.; Gibescu, M.; Kling, W.L.

    2014-01-01

    Increasing levels of wind power generation in the coming years will displace conventional generation, impacting the need for balancing reserves. The upcoming integration of pan-European balancing markets seeks to increase collaboration between areas for optimal provision of services. The challenge

  12. Developments on the European energy market. Part 1. Natural gas supply. Extra import covers growing natural gas demand in Europe

    International Nuclear Information System (INIS)

    Van Gelder, J.W.

    2000-01-01

    This first part of a series on developments in the European gas market features the growth in gas supply. 35% of the gas demand must be covered from sources outside Europe. For the future additional imports are required from countries such as the Russian Federation, Algeria and Nigeria. Over the next few years the artificial link between ga and oil prices will disappear, bringing the gas price to a structurally lower level. It will be of crucial importance that gas suppliers will not be able to form cartels to keep prices high. All competing projects will curb price increases on the European market, but will definitely result in more freedom of choice for European natural gas consumers

  13. Energy markets in the European Community - short-term outlook 1985-86

    Energy Technology Data Exchange (ETDEWEB)

    Peirce, T

    1985-08-01

    The Community's consumption of primary energy is expected to increase by 2.6% in 1985 and 2.9% in 1986. The four main reasons for this are the expected increases in the Community's GDP (2.3% for both years), 3-4% growth rates of industrial production, weaker energy prices (led by lower oil prices) and cold weather in the early part of 1985. The base case forecast also assumes some ECU reevaluation against the dollar which, if correct will accelerate the fall in real energy prices. Following the ending of the United Kingdom mining strike in early 1985, coal consumption could be 3% higher this year than in 1984, but oil consumption is forecast to fall by 2-3% in 1985 but perhaps increase very slightly in 1986. Gas and electricity consumption should increase in both years and at similar rates, but the most telling factor in the period will be the increase in nuclear power. In 1986 nuclear should provide nearly 15% of the Community's energy needs, as against only 4% in 1980. The Community's net energy import dependence is expected to fall to 42% in 1986, as compared to 44% last year.

  14. European observatory of the energy markets. Period 2004 and winter 2004/05

    International Nuclear Information System (INIS)

    2005-01-01

    The report underlines for the studied period many tendencies which could compromise the supplying safety: the prices increase of the primary energies, the production margins decrease during the peak period, the poor progression of the frontier exchange, and a weak of a long dated vision leading to the investments deficit in the infrastructures

  15. RE-Shaping. Shaping an effective and efficient European renewable energy market. D20 Report. Consistency with other EU policies, System and Market integration. A Smart Power Market at the Centre of a Smart Grid

    Energy Technology Data Exchange (ETDEWEB)

    Neuhoff, K.; Boyd, R.; Grau, T. [Climate Policy Initiative, German Institute for Economic Research (DIW Berlin), Berlin (Germany); Hobbs, B.; Newbery, D. [Electricity Policy Research Group, University of Cambridge, Cambridge (United Kingdom); Borggrefe, F. [University of Cologne, Cologne (Germany); Barquin, J.; Echavarren, F. [Universidad Pontificia Comillas, Madrid (Spain); Bialek, J.; Dent, C. [Durham University, Durham (United Kingdom); Con Hirschhausen, C. [Technical University of Berlin, Berlin (Germany); Kunz, F.; Weigt, H. [Technical University of Dresden, Dresden (Germany); Nabe, C.; Papaefthymiou, G. [Ecofys Germany, Berlin (Germany); Weber, C. [Duisberg-Essen University, Duisburg-Essen (Germany)

    2011-10-15

    The core objective of the RE-Shaping project is to assist Member State governments in preparing for the implementation of Directive 2009/28/EC (on the promotion of the use of energy from renewable sources) and to guide a European policy for RES (renewable energy sources) in the mid- to long term. The past and present success of policies for renewable energies will be evaluated and recommendations derived to improve future RES support schemes. The core content of this collaborative research activity comprises: Developing a comprehensive policy background for RES support instruments; Providing the European Commission and Member States with scientifically based and statistically robust indicators to measure the success of currently implemented RES policies; Proposing innovative financing schemes for lower costs and better capital availability in RES financing; Initiation of National Policy Processes which attempt to stimulate debate and offer key stakeholders a meeting place to set and implement RES targets as well as options to improve the national policies fostering RES market penetration; Assessing options to coordinate or even gradually harmonize national RES policy approaches. In the EU, at least 200 gigawatts (GWs) of new and additional renewable electricity sources may be needed by 2020. The aim of this report is to analyse whether the current electricity market and system design is consistent with such an ambitious target. Using an international comparison, we identify opportunities to improve the power market design currently in place across EU countries so as to support the large scale integration of renewable energy sources.

  16. 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.

  17. 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

  18. European Union Energy Research

    International Nuclear Information System (INIS)

    Valdalbero, D.R.; Schmitz, B.; Raldow, W.; Poireau, M.

    2007-01-01

    This article presents an extensive state of the art of the energy research conducted at European Union level between 1984 and 2006, i.e. from the first to the sixth European Community Framework Programmes (FP1-FP6) for Research, Technological Development and Demonstration (RTD and D). The FP is the main legal tool and financial instrument of EU RTD and D policy. It sets the objectives, priorities and budgets for a period of several years. It has been complemented over time with a number of policy oriented initiatives and notably with the launch of the European Research Area. FP7 will cover the period 2007-2013 and will have a total budget of more than euros 50 billion. Energy has been a main research area in Europe since the founding Treaties (European Coal and Steel Community, European Atomic Energy Community-Euratom and European Economic Community), and energy RTD and D has always been a substantial part of common EU research. Nevertheless, when inflation and successive European enlargements are taken into account, over time the RTD and D effort in the field of energy has decreased significantly in relative terms. In nominal terms it has remained relatively stable at about euros 500 million per year. For the next years (FP7), it is expected that energy will still represent about 10 % of total EU research effort but with an annual budget of more than euros 800 million per year. This article presents a detailed review of the thematic areas and budget in both European nuclear energy research (fusion and fission) and non-nuclear energy research (energy efficiency/rational use of energy, fossil fuels, CO 2 capture and storage, fuel cells and hydrogen, renewable energy sources, strategic energy research/socio-economy). (authors)

  19. 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

  20. 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?

  1. 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

  2. European energy policy and Italian national rights

    International Nuclear Information System (INIS)

    Gentile, G.G.

    1991-01-01

    In light of energy market upheavals expected as a result of the up-coming European free trade market, impacts on existing Italian energy legislation, currently hinging on the monopolistic activities of ENEL, (Italian National Electricity Board) are examined. The various aspects dealt with include: legal implications of the integration, under monopolistic and deregulated national energy market scenarios, of new legislation, on the production and distribution of renewable energy sources, with existing energy legislation; the combined effects of strong competition in a new international energy market and energy supply vulnerability due strong dependence on OPEC supplied petroleum; Italian regional economic unbalance due to the possible introduction, in a deregulated European electric power market, of a common carrier system of electric power distribution, that due to Italy's particular geography is expected to be controlled by a firm locatednear the northern border; power pooling legislation and rate structure transparency in a deregulated energy market

  3. Effects of a Liberalized European Gas Market

    International Nuclear Information System (INIS)

    Austvik, Ole Gunnar

    2003-01-01

    improves efficiency. In fact, an increase in the number of actors in such markets, per se, may increase cost, and, thus, represent a waste of resources. Usually, but not necessarily, state owned firms are privatised (even though the government may hold a significant share, or control over, the ownership), the operation of vertically integrated services are separated (''unbundled''), competition is established when possible and regulation introduced when necessary (when competition does not work). In the case of natural gas, the U.S. and Canada liberalized their markets in the mid 1980s. Later, gas markets in the U.K., and then Australia and New Zealand, followed. Now, in the European natural gas industry, both market growth and infrastructural developments, as well as political decision making, forcing competition on to firms, is now creating a more competitive environment. In order to analyze these issues in relation to Norway as a major natural gas exporter we have studied the development of EU energy policies, price effects of liberalism, energy taxation, the economics of non-renewable (exhaustible) resources and regulatory economics as well as foreign policy issues concerning security-of-supply issues. The complexity and interdisciplinary insights needed to analyze the European gas market makes it even more complex than analyses of the global oil market. In the European gas market, the problem of choosing the right in-depth level and correct parameters and discipline to apply, becomes particularly apparent and challenging. For most analysts and policy makers, it seems to be an overwhelming task to describe exactly how a liberalized European gas market works, how it should be organized and will develop. In this analysis of the political economy of European gas, we will nevertheless try to shed some light on the causes and effects of what may happen

  4. Institutional change in European natural gas markets and implications for energy security: Lessons from the German case

    International Nuclear Information System (INIS)

    Westphal, Kirsten

    2014-01-01

    This article focuses on institutional change in the German gas market driven by EU internal market and climate policies. It argues that institutional change has functional externalities for energy security. The German gas market provides a useful case study, as Germany is the biggest continental gas market, a major hub and transport country which has largely privatised, unbundled and separated its natural gas undertakings. Transition is ongoing, tending towards an internal market. Inter/national natural gas economics is in flux. Institutional evolution has repercussions for corporate and market structures, the operating of the system and the realization of transactions. Changes in the institutional framework crucially affect energy security, which is often associated with institutional stability. On the basis of this case study, it is argued herein that the security of natural gas supplies should be reexamined in the context of the developments described above, since overall the institutional changes in natural gas security lag behind the EU’s internal natural gas market development. - Highlights: • EU natural gas market regulation primarily aims to establish competitive markets. • German/EU regulatory approach has externalities for supply security. • Institutional changes and breaks with path dependencies take place in Germany/the EU. • Institutional change results in increasing uncertainty and complexity. • Subsequent change in perceptions and expectations may destabilise trade relations

  5. Impact of European and Dutch policy on the market introduction of bio-energy in the Netherlands. Report of the workshop at Novem, Utrecht, Netherlands, 21 September 2000

    International Nuclear Information System (INIS)

    2001-04-01

    The report comprises copies of overhead sheets of some of the lectures that were held at the workshop. The subjects of those presentations are: Targets for bio-energy in a financial perspective; Developments in the Dutch renewable energy policy (text and sheets not in this report); Similarities and differences in the Dutch waste policy; Differences in policy for bio-energy in the Netherlands and the European Union; Emission regulations for the combustion of wastes and biomass; Impact of policy on the market introduction of bio-energy in the Netherlands

  6. The design of European energy markets by means of decisions of commitment acceptance of the European Commission. Pt. 1; Die Gestaltung der europaeischen Energiemaerkte durch Verpflichtungszusagenentscheidungen der Kommission. T. 1

    Energy Technology Data Exchange (ETDEWEB)

    Gussone, Peter [Bundeskartellamt, Bonn (Germany). ECN-Koordinationsstelle

    2011-03-10

    The compartmentalization of national energy markets is the leitmotif of anti-trust against the greatest European energy utilities. With far-reaching commitments of the utilities the European Commission attempted a rapid end of abusive practices and a market opening. A discouragement of claim for damages under private law from customers has been accepted. There is a lack of a final reasoned statement of the behavior being in violation with competition law with a binding effect also for the courts. The impressive balance of the European Commission shows a partial failure of the regulation in the grid operation. E.ON (Munich, Federal Republic of Germany) has sold its high voltage network. RWE AG (Essen, Federal Republic of Germany) sold its transmission system. Eni Gas and Power GmbH (Duesseldorf, Federal Republic of Germany) will sell large portions of its international transmission system. The large vertically integrated utilities may not agree on long-term supply and resale restrictions.

  7. 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

  8. Energy-only and capacity markets and the economics of the power sector in a simulation of the Northwest European power market

    International Nuclear Information System (INIS)

    Hers, Sebastiaan; Redl, Christian; Wijk, Pieter van der; Slot, Thijs

    2013-01-01

    Rising concern with regard to generation adequacy and the ability of energy-only electricity markets to deliver required investments induced debates, regulatory interventions, and consideration of new market mechanisms in several EU member states. Results based on model simulations concerning guaranteed supply safety are presented. (orig.)

  9. Energy-only and capacity markets and the economics of the power sector in a simulation of the Northwest European power market

    Energy Technology Data Exchange (ETDEWEB)

    Hers, Sebastiaan; Redl, Christian; Wijk, Pieter van der; Slot, Thijs [DNV KEMA Energy and Sustainability, Arnhem (Netherlands)

    2013-11-01

    Rising concern with regard to generation adequacy and the ability of energy-only electricity markets to deliver required investments induced debates, regulatory interventions, and consideration of new market mechanisms in several EU member states. Results based on model simulations concerning guaranteed supply safety are presented. (orig.)

  10. International Energy Market

    International Nuclear Information System (INIS)

    Doringoni, S.; Pontoni, F.

    2008-01-01

    The paper analyzes recent market trends in the oil and natural gas sector. For the latter, a focus on the European gas market is then presented, whose consumption has grown considerably in these last ten years. As for the oil sector this paper investigates the key elements that have shaped its market in these years. As for oil consumption, we show that in these last 15 years China, India and the Middle East are the main responsible for the increase in World consumption. On the other hand, European OECD Countries have consistently reduced (almost 9%) their oil demand. This is due both to the dematerialization of their economy and their significant improvements in energy efficiency. As for energy intensity, in fact, Europe by far is the most efficient region in the World. On the other hand, OPEC has drastically raised its share of total production: at present the cartel accounts for more than 40% of overall production. OPEC members were the only producers to meet World's needs as oil demand expanded. The difficulties of other producers to keep up with the demand originated in the nineties, when no investment in new production capacity was brought about due to low oil prices. In the end of 2008, anyway, recession has eased the situation: for the first time in fifteen years, demand has not grown, compared to 2007 consumption. Recession has also shrunk prices, which, as soon as the demand started decreasing, have collapsed by almost 70%. As for the gas sector, the paper focuses on the European market where, after ten years from the beginning of the liberalization process, competition is still missing. In particular, the paper discusses whether LNG can bring about the competition so desperately needed. Unlike investments in pipelines, those in the LNG chain present a much lower degree of specificity, since the importer is not physically tied with the producer; moreover, it is getting increasingly common that part of the plant capacity is made available for spot

  11. 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

  12. Energy policy in the European Community: conflicts between the objectives of the unified single market, supply security and a clean environment

    International Nuclear Information System (INIS)

    Surrey, J.

    1992-01-01

    Policies for energy and the environment in Europe were previously the preserve of national governments, but the Commission of the European Community has gained a role in both policy areas in the past few years. This was due to the 1987 Single European Act which, in effect, extends the writ of competition law throughout the energy and other previously excluded sectors, expresses the desire to reduce acid rain and greenhouse gas emissions, and reaffirms Europe's renewed concern for long-term oil and gas supply security after the Gulf War and the disintegration of the USSR. The Commission's proposals for the unified internal energy market were driven by concern for competition and free market forces, and seemed to exclude any scope for long-term policy considerations. This paper argues that the implementation of those proposals will be uneven and protracted, and that the Commission's more recent proposals for reducing CO 2 emissions and the European Energy Charter appear to mark positive steps towards a long-term strategy for a clean environment, energy efficiency, and oil and gas supply security. 27 refs., 4 tabs

  13. Open access to natural gas pipeline transportation in North America: Lessons for the European internal energy market

    International Nuclear Information System (INIS)

    Dreyfus, D.A.; Koklauner, A.B.

    1991-01-01

    The North American natural gas industry's experience with deregulation is described, with emphasis on the transition to competition and the conditions for viability under open access. Lessons learned from the North American experience are then examined for relevance to the European situation, which is emphasizing greater access to transmission systems. It is found likely that the European proposal will frequently operate only to facilitate negotiations among players already active in the gas market, and is less likely to introduce a large number of independent transactions or new merchants. Challenges for the system will include: government assurance of reliability to domestic gas users who have made arrangements with foreign suppliers; administration of pipeline grids; resolution of competing claims on available transmission services; planning for future suppliers; and impact on investment. 8 refs., 1 fig

  14. The Swedish Energy Market 2005

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2005-10-01

    The Swedish Energy Market, 2005 is an annual publication that presents information and statistics on the network based energy markets in Sweden, i.e. the markets for electricity, natural gas and district heating. It also provides an overview of the issues that have arisen on these markets during the second half of 2004 and the first half of 2005. Considerable work is being carried out in the EU on creating a single market for electricity and natural gas. This publication therefore describes expansion of the Swedish market towards a Nordic and a European market. The publication normally includes a theme chapter, describing some event of particular interest for the Swedish energy market during the year. This year, the theme chapter is devoted to the Storm Gudrun, which struck the south of the country at the beginning of January, and its effects on electricity supply throughout the country. The chapter is based on the report submitted to the Government by the Energy Markets Inspectorate in the spring of 2005, and also includes a summary of the Inspectorate's proposals for measures to improve the security of electricity transmission. Energy in Sweden, which is another of the Swedish Energy Agency's annual publications, provides information and statistics on the development of the entire Swedish energy system.

  15. The Swedish Energy Market 2005

    International Nuclear Information System (INIS)

    2005-10-01

    The Swedish Energy Market, 2005 is an annual publication that presents information and statistics on the network based energy markets in Sweden, i.e. the markets for electricity, natural gas and district heating. It also provides an overview of the issues that have arisen on these markets during the second half of 2004 and the first half of 2005. Considerable work is being carried out in the EU on creating a single market for electricity and natural gas. This publication therefore describes expansion of the Swedish market towards a Nordic and a European market. The publication normally includes a theme chapter, describing some event of particular interest for the Swedish energy market during the year. This year, the theme chapter is devoted to the Storm Gudrun, which struck the south of the country at the beginning of January, and its effects on electricity supply throughout the country. The chapter is based on the report submitted to the Government by the Energy Markets Inspectorate in the spring of 2005, and also includes a summary of the Inspectorate's proposals for measures to improve the security of electricity transmission. Energy in Sweden, which is another of the Swedish Energy Agency's annual publications, provides information and statistics on the development of the entire Swedish energy system

  16. European Energy Law. Report VII

    Energy Technology Data Exchange (ETDEWEB)

    Hammer, U.; Roggenkamp, M.M. (eds.)

    2010-04-15

    The European Energy Law Report VII presents in four parts an overview of the most important legal developments in the field of EU and national energy and climate change law as discussed at the 2009 European Energy Law Seminar. The first part examines recent developments in EU climate change regulation. It includes an overview of the revision of the EU Directive governing CO2 emissions trading and a more detailed analysis of the new allocation regime, including the auctioning of emission rights. This is followed by an analysis of the competitiveness of the new EU emissions trading Directive and recent developments in the US regarding emissions trading. The second part focuses on the energy liberalisation process and the Third Energy Package. Following an overview of recent developments in EU competition law and the impact of the Sector Inquiry on the energy sector, this part concentrates particularly on the new Internal Energy Market Directives and most particularly on the legality of the unbundling provisions. Subsequently, the focus is on the role of the TSOs. After an analysis of the need for an increased cooperation of the German TSOs, another chapter discusses the need for more consolidation in the European gas transmission market and the role of regulation therein. Is there a new role for nuclear energy? In order to secure long term energy supply, the focus turns again to nuclear energy. The third part of this report discusses two elements of nuclear liability. First, it analyses the issue of the possible privatisation of the nuclear sector and its impact on long term liability. Although the focus is on the UK nuclear sector, a comparison is made with some other regulatory regimes. Next, the role of nuclear energy is discussed as an instrument to reduce CO2 emissions and, more particularly as a means to reach the 20-20-20 targets. The question is raised whether the international rules on civil liability provide sufficient protection to victims of nuclear

  17. Bridging the European Wind Energy Market and a Future Renewable Hydrogen-Inclusive Economy. A Dynamic Techno-economic Assessment

    International Nuclear Information System (INIS)

    Shaw, S.; Peteves, S.D.

    2006-01-01

    The study establishes the link between the growing wind market and the emerging hydrogen market of the European Union, in a so-called 'wind-hydrogen strategy'. It considers specifically the diversion of wind electricity, as a wind power control mechanism in high wind penetration situations, for the production of renewable electrolytic hydrogen - a potentially important component of a renewable hydrogen-inclusive economy. The analysis examines the long-term competitiveness of a wind-hydrogen strategy via cost-benefit assessment. It indicates the duration and extent to which (financial) support, if any, would need to be provided in support of such a strategy, and the influence over time of certain key factors on the outcome

  18. Recycling of carbon/energy taxes and the labor market. A general equilibrium analysis for the European Community

    International Nuclear Information System (INIS)

    Welsch, H.

    1996-01-01

    A quantitative assessment of a cost shift from labor to energy by means of a carbon/energy tax is provided. In the analysis a general equilibrium model for the European Community is utilized, focusing on the modelling of labor supply. The importance of the feedback from an induced increase in labor demand to wage formation is highlighted. (It is shown that the goals of C) 2 reduction and improved employment are complementary, provided that the reduction in labor costs, financed by the carbon/energy tax, is not offset by increased wage claims. Under this condition reduced CO 2 is consistent with an increase in GDP. 1 fig., 3 tabs., 17 refs

  19. 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

  20. ACER: demystifying the European energy supervisor from a consumer perspective

    NARCIS (Netherlands)

    Lavrijssen, S.A.C.M.; Bordei, I.

    2012-01-01

    The European energy regulatory triangle, consisting of National Regulatory Authorities (NRAs), the European Commission and the newly established Agency for the Cooperation of Energy Regulators (ACER), has an important role in enhancing cross border trade and wholesale market competition and

  1. The Energy Market 2004

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2004-08-01

    This publication describes the markets for network based energy in a Nordic perspective, with an extension to the EU. The ongoing harmonization of the energy market policy is described in more detail in the sections dealing with energy policy and regulations. The network based energy markets differ in size, ownership structure and competition. The electricity and district heating markets in Sweden were deregulated in 1996. However, the natural gas market is being deregulated in stages, and will be completely open to competition by 2007 at the latest. The rules for promoting competition in trading and production on the network based energy markets have therefore been continually changed. The chapters dealing with the markets describe the effects of deregulation and how the market structures have changed. If a market is to perform well, the consumers must be active. A study performed by 'Elkonkurrensutredningen' (Electricity competition committee) shows that switching to a different supplier involves costs that restrict consumer mobility, and that the consumers are not sufficiently well informed. This publication also describes the development of prices and how the trading prices have developed on the competitive market. The markets for network based energy are in the course of continual development. This report gives a coherents view of the way the markets work and their development from a national monopoly to an open, competitive market. On such a deregulated market, consumers enjoy increased diversity and freedom of choice. This, in turn, has created the conditions for better utilization of resources at the production stage.

  2. The Energy Market 2004

    International Nuclear Information System (INIS)

    2004-01-01

    This publication describes the markets for network based energy in a Nordic perspective, with an extension to the EU. The ongoing harmonization of the energy market policy is described in more detail in the sections dealing with energy policy and regulations. The network based energy markets differ in size, ownership structure and competition. The electricity and district heating markets in Sweden were deregulated in 1996. However, the natural gas market is being deregulated in stages, and will be completely open to competition by 2007 at the latest. The rules for promoting competition in trading and production on the network based energy markets have therefore been continually changed. The chapters dealing with the markets describe the effects of deregulation and how the market structures have changed. If a market is to perform well, the consumers must be active. A study performed by 'Elkonkurrensutredningen' (Electricity competition committee) shows that switching to a different supplier involves costs that restrict consumer mobility, and that the consumers are not sufficiently well informed. This publication also describes the development of prices and how the trading prices have developed on the competitive market. The markets for network based energy are in the course of continual development. This report gives a coherents view of the way the markets work and their development from a national monopoly to an open, competitive market. On such a deregulated market, consumers enjoy increased diversity and freedom of choice. This, in turn, has created the conditions for better utilization of resources at the production stage.

  3. 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)

  4. 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

  5. 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

  6. 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

  7. 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.

  8. 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.

  9. 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

  10. 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.)

  11. 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?

  12. Risk premia in energy markets

    DEFF Research Database (Denmark)

    Veraart, Almut E.D.; Veraart, Luitgard A.M.

    Risk premia between spot and forward prices play a key role in energy markets. This paper derives analytic expressions for such risk premia when spot prices are modelled by Lévy semistationary processes. While the relation between spot and forward prices can be derived using classical no......-arbitrage arguments as long as the underlying commodities are storable, the situation changes in the case of electricity. Hence, in an empirical study based on electricity spot prices and futures from the European Energy Exchange market, we investigate the empirical behaviour of electricity risk premia from...

  13. German energy market 2016

    International Nuclear Information System (INIS)

    Schiffer, Hans-Wilhelm; Weltenergierat, Berlin

    2017-01-01

    The basic orientation of the German energy supply to the increased use of renewable energies, while increasing energy efficiency, is prediscribed by the German government's energy concept and determines the market development. A current overview of the German energy market is given, which provides also this year a concentrated Compilation of the key data of the energy industry. As in the years before, the article not only summarizes general facts about the energy mix, but also goes into detail on the development of the individual energy sources, petroleum, natural gas, brown coal and hard coal, electricity as well as renewable energies. Furthermore, the price trends of international markets and in the domestic market are explained. A current overview of the development of greenhouse gas emissions concludes the contribution. [de

  14. Market liberalization in the European Natural Gas Market. The importance of capacity constraints and efficiency differences

    Energy Technology Data Exchange (ETDEWEB)

    Brakman, S. [University of Groningen, Faculty of Economics, Department of International Economics and Business, P.O. Box 800, 9700 AV Groningen (Netherlands); Van Marrewijk, C.; Van Witteloostuijn, A. [Utrecht University, Utrecht School of Economics, Janskerkhof 12, 3512 BL Utrecht (Netherlands)

    2009-06-15

    In the European Union, energy markets are increasingly being liberalized. A case in point is the European natural gas industry. The general expectation is that more competition will lead to lower prices and higher volumes, and hence higher welfare. This paper indicates that this might not happen for at least two reasons. First, energy markets, including the market for natural gas, are characterized by imperfect competition and increasing costs to develop new energy sources. As a result, new entrants in the market are less efficient than incumbent firms. Second, energy markets, again including the market for natural gas, are associated with capacity constraints. Prices are determined in residual markets where the least efficient firms are active. This is likely to lead to price increases, rather than decreases.

  15. Energy and commodities market

    International Nuclear Information System (INIS)

    Bokermann, Marcus; Prass, Markus

    2015-01-01

    The electricity markets in Central and Western Europe and in the nordic countries have further shown weak in 2014 with falling prices. The key factors were the declining quotations for coal and natural gas and the warm weather. Another driver was the growth of renewable energy. In the power markets conditions remained mostly an oversupply. The upward trending prices on the CO 2 emissions market were not formative enough to turn the market sentiment. They only caused for volatility during the year. [de

  16. 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.

  17. 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....

  18. The diversity of European energy policies

    International Nuclear Information System (INIS)

    2013-01-01

    If many European Union countries have engaged in a mutation of their energy system, the direction chosen may be different from one country to the other with different specific goals, starting from different initial energy mixes and involving different financial and industrial means. The German 'Energiewende' (the 'energy turn'), the Spanish 'Sostenibilidad Energetica' or the British 'Climate Change Bill' are unique initiatives which, without coordination, can lead to detrimental consequences on the European power system. These policies represent as many experiences to meditate on in order to identify the advantages and drawbacks of these different approaches as well as their respective impact on the European power system and on markets operation

  19. Energy challenges: European viewpoints and French answers

    Directory of Open Access Journals (Sweden)

    Marc Gjidara

    2013-01-01

    Full Text Available The European Union attempts to improve the European energy market so that it is better coordinated because in a unified Europe it is no longer possible to act in isolation. The production of energy form renewable sources of great proportions demands a mutually linked European energy market if the aims established in the “Energy and Climate” programme and adopted in 2009 are to be achieved. The aim of this paper is to establish how the principles of European Law influence legal norming in energy issues and in the battle against global warming. The development of energy which does not emit carbon dioxide is in accordance with the aims set by the European Union. In that area, this development relies on regions, and not just countries which are not always able to implement defined ambitious aims. Energy continues in the majority of cases to depend on the power of countries and European control is limited. The European Union participates mainly in the co-ordination and support of national policy, within provisions relating to trans-European networks and within environment protection policy. In principle, the measures relating to the choice of each country from the various sources of energy and on the general structure of providing energy have been unanimously accepted. Particular attention has been given to comparing the French legal rules which are applied in the development of renewable sources of energy and the adaptation of the law on renewable sources of energy and laws on environmental protection to urban planning and the importance of supervision with European legal standards of regulation.

  20. 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

  1. European energy policy: the green book

    International Nuclear Information System (INIS)

    Anon.

    2006-01-01

    Energy dependence, insecurity of supplies, rise of demand and prices, global warming: these are the characteristics of the energy situation of the 21. century. The new green book of the European Commission about 'a European strategy for a safe, competitive and durable energy' starts from this alarming status and proposes some suggestions for the building up of a new global European energy policy: realization of the European domestic energy markets (a European energy network, a priority interconnection plan for gas networks, a separation of transport and distribution activities for equitable rules, a reinforcement of the competitiveness of the European industry), a joint security of supplies between member states (redefining the EU position about strategic oil and gas reserves), a sustainable, efficient and diversified energy offer, an integrated approach to fight against global warming (improving energy efficiency, development of renewable energy sources, carbon sequestration), encouraging innovation, developing a consistent foreign policy of energy (a clear policy for the security and diversification of energy supplies, energy partnerships between producers, transit countries and other international actors). (J.S.)

  2. 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.)

  3. 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

  4. RENEWABLE ENERGY STRATEGIES: WHERE EUROPEAN UNION HEADED?

    Directory of Open Access Journals (Sweden)

    RADULESCU IRINA GABRIELA

    2015-06-01

    Full Text Available The states from European Union must take advantage from renewable energy sources in order to revive the economy. Climate change creates new jobs and could reduce energy imports which would stimulate the economy of those states. The European Union should support research in the field, apply more efficient policies in energy, and create economies of scale to get an integrated European energy market in which the main actors can reduce the cost of production of renewable energy. In addition, it is possible to use the comparative advantages of the Member States and not only, like Greece, through solar energy, Southern Mediterranean, through distribution networks interconnections with EU, Russia and Ukraine, through biomass and the North Sea, through wind energy. This paper refers to the evolution and trends of the renewable energy sources and presents some scenarios of it.

  5. End user prices in liberalised energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Lijesen, M.G. [Afdeling Energie en Grondstoffen, Centraal Planbureau CPB, Den Haag (Netherlands)

    2002-12-01

    As European energy markets move towards deregulation, energy prices shift from classic 'cost plus' prices towards market prices. We develop a model for the retail and wholesale energy markets in Europe, based on Bertrand competition in a two part pricing structure with switching costs. We use the model to forecast end user electricity and natural gas prices and find that the introduction of competition in energy retail and wholesale markets will decrease standing charges, lowering total costs for energy users. A larger number of entrants, a cost advantage for one of the suppliers, or lower switching costs reduces standing charges further.

  6. Renewable energy technologies and the European industry

    International Nuclear Information System (INIS)

    Whiteley, M.; Bess, M.

    2000-01-01

    The European renewable energy industry has the potential to be a world leader. This has been achieved within the European region for specific technologies, through a set of policy activities at a national and regional level, driven primarily by employment, energy self-sufficiency and industrial competitiveness. Using the experience gained in recent years, European industry has the opportunity to continue to expand its horizons on a worldwide level. Through the use of the SAFIRE rational energy model, an assessment has been made of the future penetration of renewable energy within Europe and the effects on these socio-economic factors. In conjunction with these outputs, assessments of the worldwide markets for wind, photovoltaics, solar thermal plant and biomass have been assessed. A case study of the Danish wind industry is used as a prime example of a success story from which the learning opportunities are replicated to other industries, so that the European renewable energy industry can achieve its potential. (orig.)

  7. The internal energy market

    International Nuclear Information System (INIS)

    1988-01-01

    The briefs compile the results of the studies the Commission worked out on the subject on the basis of experiences gained on its own part, on the part of the government and on the part of the market. The briefs are based on the schematic inventory annexed which for each energy sector points out the different existing or potential obstacles to a common energy market the most comprehensive and transparent way possible. Step by step part one and part two discuss the general problems connected with the integration of energy into the internal market, priorities which according to the Commission should be investigated into, and guidelines for such investigations. (orig./UA) [de

  8. New green paper on European energy policy

    International Nuclear Information System (INIS)

    Heller, W.

    2006-01-01

    On March 8, 2006, EU Commission president Jose Manuel Barroso and Energy Commissioner Andris Piebalgs presented to the public the Green Paper on 'A European Strategy for a Sustainable, Competitive, and Secure Energy', which had been expected for some time. The authors thus underscore the great importance for European development of energy policy. However, the European treaties restrict the competence of the EU in matters of energy policy. The Green Paper is to spark off a broad consultation and discussion process about the potential design of a comprehensive European energy policy. 6 main areas are mentioned in which action needs to be taken: - Energy for growth and employment. - Single energy market and continuity of supply. - Mix of energy resources: sustainable, efficient, divers. - Climate protection. - Innovation in energy technologies. - Coherent foreign policy in matters of energy. 3 key objectives are identified: - Development of renewable and other energy sources also with low CO 2 emissions. - Opening of markets, promotion of investments, energy efficiency. - Continuity of supply. (orig.)

  9. 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

  10. International Voluntary Renewable Energy Markets (Presentation)

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, J.

    2012-06-01

    This presentation provides an overview of international voluntary renewable energy markets, with a focus on the United States and Europe. The voluntary renewable energy market is the market in which consumers and institutions purchase renewable energy to match their electricity needs on a voluntary basis. In 2010, the U.S. voluntary market was estimated at 35 terawatt-hours (TWh) compared to 300 TWh in the European market, though key differences exist. On a customer basis, Australia has historically had the largest number of customers, pricing for voluntary certificates remains low, at less than $1 megawatt-hour, though prices depend on technology.

  11. Energy Sector Market Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Arent, D.; Benioff, R.; Mosey, G.; Bird, L.; Brown, J.; Brown, E.; Vimmerstedt, L.; Aabakken, J.; Parks, K.; Lapsa, M.; Davis, S.; Olszewski, M.; Cox, D.; McElhaney, K.; Hadley, S.; Hostick, D.; Nicholls, A.; McDonald, S.; Holloman, B.

    2006-10-01

    This paper presents the results of energy market analysis sponsored by the Department of Energy's (DOE) Weatherization and International Program (WIP) within the Office of Energy Efficiency and Renewable Energy (EERE). The analysis was conducted by a team of DOE laboratory experts from the National Renewable Energy Laboratory (NREL), Oak Ridge National Laboratory (ORNL), and Pacific Northwest National Laboratory (PNNL), with additional input from Lawrence Berkeley National Laboratory (LBNL). The analysis was structured to identify those markets and niches where government can create the biggest impact by informing management decisions in the private and public sectors. The analysis identifies those markets and niches where opportunities exist for increasing energy efficiency and renewable energy use.

  12. 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

  13. 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

  14. Energy management in the patrimonial buildings of European territorial organizations in the framework of markets liberalization. Economic study of financial incentive mechanisms in favor of energy efficiency investment

    International Nuclear Information System (INIS)

    Gayral, L.

    2005-12-01

    The territorial and patrimonial components of energy savings are not well developed because many barriers - political, organisational and financial - prevent investments in energy efficiency. Although investing in the improvement of the energy efficiency of their public buildings is a rational process, the local authorities are far from systematically carrying out this type of investment. Their limited investment capacity, associated to the lack of spare capital to finance their projects leads them to a 'vicious circle of energy wasting'. Our thesis analyzes the economic and financial tools a local authority can use to invest and enter a 'virtuous circle of energy efficiency'. Our topic deals with the financing of energy efficiency investments at a local level. We describe with details the functioning of each financial mechanism indexed. We illustrate their implementation within European municipalities through many case studies. Finally, we suggest recommendations for their broad reproducibility within French local authorities. (author)

  15. Energy challenges of the Single Market

    International Nuclear Information System (INIS)

    Blakey, S.

    1991-01-01

    The Single Market Initiatives promise to reshape many areas of western Europe's energy markets. They will entail a number of changes for the Continent's oil, gas, electricity, and coal businesses. Some of those changes promise to improve market efficiency, others threaten to restrict it. Current negotiations could have a particularly far-reaching impact on western Europe's gas markets, which according to some reports, do not require any alternations. While western Europe's energy industry makes ready for the single market, eastern Europe's energy sector awaits the European Energy Charger, a multilateral agreement that could completely renovate the rules of this region's energy game. The rule changes could prove to be especially important for businesses from the United States. This paper examines this reshaping of Europe. It considers the ways in which old arrangements might be transformed into a new, but not necessarily improved, European order

  16. 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...

  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. 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)

  20. 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

  1. 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...

  2. 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....

  3. The development of European gas markets. Environmental, economic and political perspectives

    International Nuclear Information System (INIS)

    Estrada, J.; Moe, A.; Martinsen, K.D.

    1996-01-01

    By reviewing past history and developments in the European gas markets and European energy policy, this book identifies the driving forces for future market development. Topics covered include future gas demand and potential supplies, inter-fuel competition and the likely structure of gas markets in Europe in the future. (UK)

  4. Stakes and consequences of the opening of energy markets

    International Nuclear Information System (INIS)

    Anon.

    2002-01-01

    This colloquium on the European energy market was organized by the group of energy studies of the commission of economic affairs of the French Senate. The aim of the colloquium was to debate the industrial organization of France in the context of opened energy markets. This article summarizes the point of view of the different participants concerning: the security of energy supplies, the situation of the opening of energy markets in the different European countries, the role of market regulation authorities, the necessary evolutions, the legal risks linked with open markets, and the examples of the German and US markets. (J.S.)

  5. Equal access to the energy infrastructure as a precondition to promote competition in the energy market. The case of European Union

    International Nuclear Information System (INIS)

    Nowak, Bartlomiej

    2010-01-01

    In many EU countries, the infrastructures for supplying electricity and gas (electricity networks, gas pipelines, and storage facilities) are still properties of the so-called vertically integrated undertakings (VIU) responsible for the extraction or generation, supply, and transmission and distribution of the energy. While competition can be promoted in the generation/production and supply side of the vertical integration, transmission and distribution segments remain natural monopolies that hinder market mechanisms. Vertical integration simply raises the possibility for incumbents to favor their own divisions and to block new entrants. As a result, non-discriminatory and equal access to the electricity and gas transmission and distribution networks, also LNG and storage facilities, is crucial to foster competition in politically delicate structures of the electricity and gas markets. (author)

  6. Equal access to the energy infrastructure as a precondition to promote competition in the energy market. The case of European Union

    Energy Technology Data Exchange (ETDEWEB)

    Nowak, Bartlomiej [Kozminski University, Warsaw (Poland)

    2010-07-15

    In many EU countries, the infrastructures for supplying electricity and gas (electricity networks, gas pipelines, and storage facilities) are still properties of the so-called vertically integrated undertakings (VIU) responsible for the extraction or generation, supply, and transmission and distribution of the energy. While competition can be promoted in the generation/production and supply side of the vertical integration, transmission and distribution segments remain natural monopolies that hinder market mechanisms. Vertical integration simply raises the possibility for incumbents to favor their own divisions and to block new entrants. As a result, non-discriminatory and equal access to the electricity and gas transmission and distribution networks, also LNG and storage facilities, is crucial to foster competition in politically delicate structures of the electricity and gas markets. (author)

  7. 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...

  8. 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...

  9. 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.

  10. The energy services market in France

    International Nuclear Information System (INIS)

    2004-06-01

    This study aims to answer the following questions: what is the french market value? What are its development perspectives? What services range is necessary? How increase the added value of proposed services? Which choice between the competence internalization and the subcontracting? What threat represent the providers on a market usually dominated by the energy suppliers and services providers? How will the french and european market combine? The following operators are studied (key data, energy services policy) by Eurostaf: Amec Spie, Cegelec, Dalkia, EDF, Elyo, Endesa Energia, Energie Rhone, GDF, RWE Solutions, Vinci Energies. (A.L.B.)

  11. 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...

  12. Nuclear Energy and European Union

    International Nuclear Information System (INIS)

    Picamal, B.

    2010-01-01

    The interest shown by the European Institutions in the energy debates, in which the nuclear energy is included as a key component within the energy mix, is obvious. Climate change and energy supply have pushed some countries to publicly express their interest for developing the nuclear energy. These positions are however in contradiction with some others within the European Union which are a lot more critical towards this type of energy and where face-out policies still prevail. Despite the fact that the use of the nuclear energy will remain within the competence of each Member State, the European Union will continue to play a prominent role in the development of an energy strategy based on a low carbon economy. (Author)

  13. Review of European wind energy programmes

    International Nuclear Information System (INIS)

    Beurskens, H.J.M.; Lalas, D.

    1993-03-01

    Based on papers from Norway, Sweden, Spain and Denmark, submitted to the ECWEC'93 conference in Travemuende, Germany, and the draft 1992 annual report of the IEA R+D Wind Programme, a general review is given of national wind energy programmes in European countries. First, tendencies of the past wind energy programmes are described and linked to the present developments. Not only the separate aspects are reviewed (R+D, wind turbine development, market stimulation, utility involvement, regulatory issues and operational experiences), but also the synergetic aspects of their integration is addressed. The main conclusion is that the integration of R+D, industrial development and market stimulation works. 3 tabs

  14. IEA energy policies review: the European Union

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-09-04

    For the first time, the IEA has reviewed the energy policies of the European Union which shape the energy use of almost 500 million citizens in 27 EU member countries. A unique entity governed under complex and almost constantly evolving structures, the EU constitutes a challenge for energy policy makers. Its energy policy has a global impact, not only because of its 16% share of world energy demand, but also because of the EU leadership in addressing climate change. Strong policy drives are underway in the EU to achieve the completion of the internal energy market, increase renewable energy supply, reduce CO2 emissions and make the EU more energy-efficient. Concerns about security of supply have also led to a greater focus on improved energy relations with supplier countries, and new institutional structures are being put in place. How much progress has been made in the field of security, internal market and external energy policies? And in which of these areas has the EU already implemented a fully integrated policy? This publication addresses these questions and also analyses the impact of the most recent major EU policy measures, in particular the Energy and Climate Package of January 2008 and the 3rd Liberalisation Package of September 2007. This book finds that both of these proposals are highly ambitious. But implementing them and reviewing both volume and allocation of energy R and D will be necessary to achieve a sustainable energy future in a fully competitive integrated EU energy market.

  15. The marketing of solar energy

    International Nuclear Information System (INIS)

    Coehoorn, M.; Sinke, W.C.

    1994-01-01

    After two decades of research and development the market introduction of solar water heaters finally is developing rapidly. In a number of progressive countries, amongst which the Netherlands, preparations are made for the large-scale introduction of photovoltaic (PV) power systems. A brief overview is given of market introduction activities with regard to solar energy applications in several countries. Also attention is paid to new technological developments for the improvement of solar boilers: the Integrated Collector Storage system, the integration of the storage tank in the solar water heater (combi-boiler), and the new principle for a combined system for the production of hot tap water and space heating, the so-called solar-gas-combi. The Dutch-developed boilers, however, must compete with the the foreign thermosyphon boilers, although these boilers probably require more maintenance than the Dutch boilers. The market for PV-systems is still in its infancy. The marketing efforts and research activities in Japan, USA and European countries for PV-systems are briefly discussed. Although financial incentives from the national governments are still necessary contributions from other market parties for the development of PV-systems are expected. 4 ills

  16. International energy market

    International Nuclear Information System (INIS)

    De Boer, A.; Westrus, I.

    2001-01-01

    The industry, and later on households as well, are free to choose which company will be their energy supplier. The chances that it is going to be a foreign company are high. Many Dutch production companies were taken over by a foreign company. American companies, e.g. Reliant, Enron and TXU, Electrabel from Belgium and E.On from Germany all want a part of the Dutch industrial market. It is going to be a crowded market place and each company has it's own strategy to survive

  17. More planned economy than market economy in the energy policy strategy for 2020 of the European Commission; Mehr Plan- als Marktwirtschaft in der energiepolitischen Strategie 2020 der Europaeischen Kommission

    Energy Technology Data Exchange (ETDEWEB)

    Haucap, Justus; Coenen, Michael

    2011-04-15

    The Europeanization of energy policies is desirable because the three main objectives of energy policy (climate protection, security of supply and competitiveness) have cross-border impacts. Hence, it is good that the European Union has been granted a competence for energy policy in the article 194 of the Lisbon treaty. In addition, it is good that the European Commission has published its long-term strategy to stabilize expectations which is important for infrastructure investment. It is regrettable though that price signals, competition and market principles only play a minor role for the Commission while rather doubtful objectives such as fostering energy efficiency and promoting renewable dominate the agenda. The Commission's strategy is mainly characterized by bureaucratic dirigisme, intense regulation, state planning and public subsidies. The road to a centrally planned energy industry is being walked down fast.

  18. 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)

  19. Energy policies of the European Union

    International Nuclear Information System (INIS)

    Lyons, P.K.

    1994-09-01

    This report takes stock of what has been achieved and where the European Community is going in terms of energy policy and also looks at the full extent of the Union's energy sector competances. The chapters deal with the European Commission's programme to create an internal energy market through implementing new Directives and by means of an approach through competition. A further two chapters concentrate on environmental policy with respect to emissions control and the greenhouse effect. Two broad policy areas - Community Initiative and trans-European networks - are examined in a consideration of the connections between energy and economic and social cohesion. Security of supply is the fourth and traditional pillar of energy policy to be considered. Three policy areas which do not fit into these first four categories are dealt with in individual chapters. These are: nuclear issues, research and development, and a wider Europe. A concluding chapter suggests that there is an urgent need for a new way of dealing with energy in the European Union which has a myriad of policies affecting energy but no energy policy. The appendices include a document summary for each of the main chapters and a glossary. (UK)

  20. 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...

  1. Energy corridors European Union and Neighbouring countries

    International Nuclear Information System (INIS)

    Van Oostvoorn, F.; Hafner, Manfred; Vailati, Ricardo; Wietschel, Martin

    2007-08-01

    The ENCOURAGED (Energy corridor optimisation for European markets of gas, electricity and hydrogen) project has been launched in beginning 2005 to identify and assess the economically optimal energy corridors between European Union (EU) and neighbouring countries. The objectives of the project are to: Assess the economic optimal energy (electricity, gas and hydrogen) corridors and related network infrastructure for connecting the EU with its neighbouring countries and regions; Identify, quantify and evaluate the barriers to and potential benefits of building optimal energy corridors connecting the EU with its neighbours; Propose necessary policy measures to implement the recommended energy corridors with a focus on investment and the geopolitical framework; Organise stakeholder workshops and seminars to discuss the results and findings and reach consensus among scientists, stakeholders and non-governmental organizations and validate project results

  2. 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...

  3. European energy survey

    International Nuclear Information System (INIS)

    1999-12-01

    This economic analysis deals with the energy situation in Europe. The following aspects are presented: the socio-economical convergencies, the improvement of the energy situation, the difference for each countries of the energy balance sheets and the new concept of competition. Tables and statistics support the analysis. (A.L.B.)

  4. 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.

  5. European Schemes for Promoting Renewables in Liberalised Markets

    DEFF Research Database (Denmark)

    Meyer, Niels I.

    2003-01-01

    The paper describes possibilities and problems for penetration of supply systems based on renewable energy sources in liberalised markets. The analysis is based on recent development in EU with different models for support of installations based on renewable energy. These include feed-in models...... with guaranteed minimum tariffs, tender models for different bands of technologies, and green certificates trading models with obligatory consumer quota. The paper describes the market situation in selected European countries, including Germany, the UK, Holland and Denmark.An EU directive from September 2001 has...

  6. Energy markets and climate change

    NARCIS (Netherlands)

    Krozer, Yoram

    2017-01-01

    Innovations mechanisms on energy markets are discussed, in particular valorization of energy products which invokes decarbonization of energy recourses. The valorization, meaning higher value of energy products, is expressed as electrification and entry of modern renewable energy based on

  7. European approaches to changing patterns of energy consumption and supply

    Energy Technology Data Exchange (ETDEWEB)

    Lepetit, P. [Centre Francais sur les Etats-Unis, 75 - Paris (France)

    2001-07-01

    In the case of the broad debate on the security of energy supply, launched by the european commission on november 2000, this document presents the historical european facts and figures, stress the dramatic changes since 1990 and discussed the policy opinions (nuclear energy, tax policy, further progress in opening market and promoting international trade and investment). (A.L.B.)

  8. European approaches to changing patterns of energy consumption and supply

    International Nuclear Information System (INIS)

    Lepetit, P.

    2001-01-01

    In the case of the broad debate on the security of energy supply, launched by the european commission on november 2000, this document presents the historical european facts and figures, stress the dramatic changes since 1990 and discussed the policy opinions (nuclear energy, tax policy, further progress in opening market and promoting international trade and investment). (A.L.B.)

  9. 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...

  10. 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

  11. Report of the European Energy Law seminar 2011

    International Nuclear Information System (INIS)

    Holwerda, J.M.; Mueller, H.K.; Mutsaers, A.

    2011-01-01

    The 24th European Energy Law Seminar was held in Noordwijk aan Zee, Netherlands, 11-12 April 2011. The first day attention was paid to the liberalization of the energy markets, the climate and energy. The second day was dedicated to energy security, the upstream sector and development of energy infrastructure. [nl

  12. Regulating deregulated energy markets

    International Nuclear Information System (INIS)

    Jackson, M.

    2002-01-01

    The North American gas and electricity markets are fast evolving, and regulators are currently faced with a host of issues such as market-based rates, unbundling, stranded costs, open access, and incentive regulation are surfacing as a result of deregulation. The regulatory environment in Ontario was reviewed by the author. Deregulated markets rule, from commodities to gas and electricity. Additionally, there is an evolution of traditional utility regulation. A look at deregulated markets revealed that there are regulations on boundary conditions on the deregulated market. Under the Ontario Energy Board (OEB), all generators, transmitters, distributors, and retailers of electricity must be licensed. The standard supply service (SSS) offered by electricity distributors and system gas which is still being sold by natural gas distributors continues to be regulated by OEB. One issue that was addressed was separation for revenues and costs of the utility's purchase and sale of gas business, at least for accounting purposes. The next issue discussed was cost of system gas and SSS, followed by timely signals and prudent incurred costs. Historical benefits were reviewed, such as historical commitments to low-cost electricity. Pooling transportation costs, transmission pricing continued, market-based rates, unbundling, stranded costs, open access, incentive regulation/ performance based regulation (PBR) were all discussed. Price cap on PBR, both partial and comprehensive were looked at. A requirement to review guidelines on cost of capital and an application to extend blanket approval provisions for gas storage were discussed, as they are amongst some of the challenges of the future. Other challenges include revised rules and practice and procedure; practice directions for cost awards, appeals, and other functions; confidentiality guidelines; and refinements to the role of and approaches to alternative dispute resolution. The future role of regulators was examined in light

  13. European Union concerns with its energy dependence

    International Nuclear Information System (INIS)

    Commeau, N.

    2001-01-01

    European Union (E.U.) produces only half its needs concerning energy. It is expected that by 2030, the energy balance will be 86% for fossil energies, 8% for renewable energies and 6% for nuclear energy. Different scenario show that the dependence of E.U will worsen and reach 70% unless a common strategy is launched to curb the tendency. E.U is elaborating a common policy concerning energy, this policy rests on 4 axis: 1) monitoring the increase of the energy consumption by promoting energy savings in housing and transport, 2) directing the energy demand towards less polluting energy by using taxes, public funding and European regulations as incentive tools, 3) sustaining a constant dialogues with energy exporting countries in order to get a more stable energy market and have a benefiting influence on prices, and 4) developing new routes of importation of energy by for instance contributing to the construction of new oil or gas pipeline networks. (A.C.)

  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. The European Gas Market Looking for its Golden Age?

    International Nuclear Information System (INIS)

    Aoun, Marie-Claire; Cornot-Gandolphe, Sylvie

    2015-10-01

    The EU gas policy has to deal with a new landscape on the supply and demand sides. This study examines five major recent evolutions of the EU gas market: the relations with Russia, LNG coming back to Europe, the decrease of Groningen production, the contrasted evolutions of shale gas and the perspectives of EU natural gas demand. The European energy market has to face numerous challenges to achieve a successful energy transition, preserve its competitiveness and ensure its security of supply. While the EU Communication on Energy Union published in February 2015 has today given new impetus to Europe's gas policy, this policy has to deal with a new environment both in terms of supply and demand. On the supply side, the new strategy must henceforth deal with complex relations with Russia. Tensions between Russia and Ukraine along with economic sanctions against Russia have led Gazprom - the EU's leading supplier - to review its strategy towards Europe. While the 'Power of Siberia' project is already underway, Russia's own pivot towards Asia as announced by Vladimir Putin is turning out to be more difficult than expected: China and Russia have still not been able to find an agreement on the Western route. For some time, Gazprom seemed to want to cut its involvement in European gas assets significantly, due to problems with market liberalization rules. Today, Moscow is sending mixed messages to Europe, first by announcing the Turkish Stream project to deliver gas to Europe's gates, and then by extending the Nord Stream pipeline. The renewed interest in the EU market by Gazprom is indicative of the importance of this market, which provides the Russian company with the bulk of its gas revenues. Europe also has to deal with faster than expected declines in its own output. The Groningen field in the Netherlands, the EU's main gas producer, has suffered major restrictions since January 2014, due to significant earthquake risks. The Dutch government has to ensure the safety

  17. 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.

  18. European energy supplies; some considerations

    International Nuclear Information System (INIS)

    Bahgat, G.

    2009-01-01

    European leaders are increasing conscious of their heavy dependence on energy supplies from Russia. In an attempt to articulate a strategy to improve energy security and Solidarity Action Plan in november 2008. This essay examines the E U-Russia energy partnership and argues that despite a number of supply-interruptions, of threats of interruptions, the interdependence between Brussels and Moscow is likely to endure, at least the foreseeable future. [it

  19. A look at the European domestic and foreign energy policy

    International Nuclear Information System (INIS)

    Lesourne, J.

    2008-01-01

    After having defined the main characteristics of energy considered as a good (a private good, a product of first necessity, a redistributed product, a strategic good), the author presents the actors of the European energy policy: European authorities, member state governments, firms (operators and big consumers), and households. He presents the European domestic energy policy which comprises three main themes: the creation of a domestic market, the taking of government commitments for 2020 into account, and the emission trading scheme. He identifies and comments the three main objectives of the European foreign energy policy: supply security, struggle against climate change, and support to the less developed countries

  20. Energy at what price? Energy markets

    International Nuclear Information System (INIS)

    Favennec, J.P.; Amic, E.; Darmois, G.

    2006-01-01

    In 2005, the whole world had to stand a real energy shock due to the rise of oil, gas and electricity prices. The perspective of a possible shortage, even at the prospect of several decades, has led to a deep change of the world energy market. In this context, this book supplies a clear and didactical presentation of the mechanisms of petroleum, gas and electricity markets, with their advantages and limitations. At the time of a globalization of economy, the book analyzes the consequences of markets deregulation on the energy prices and tries to answer several main questions: why such a price volatility? Who will take the risk of investing now? Will the energy actors of the present day concentration be in a dominating position? Content: 1 - energy, markets and energy markets; 2 - crude oil and petroleum product markets; 3 - gas markets; 4 - electric power markets; 5 - perspectives. Glossary. Index. (J.S.)

  1. 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

  2. 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

  3. European Energy Law Seminar 2005. Report of NeVER

    International Nuclear Information System (INIS)

    Oosterom, A.R.; Boumans, L.

    2005-01-01

    An overview is given of the lectures and presentations at the title seminar, which was held in Noordwijk aan Zee, Netherlands, 30-31 May 2005. The seminar was organized by the Dutch Association for Energy Law (NeVER), the Scandinavian Institute for Maritime Law of the University of Oslo, and the Groningen University. The subjects presented concerned recent developments with regard to the internal (European) energy market, LNG, developments in the North Sea area, supply security and quality in a competitive market, reorganization of the European market for natural gas in the light of the liberalization process and privatization of the energy sector [nl

  4. 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)

  5. European Union gas market liberalization: a windfall effect for Russia?

    International Nuclear Information System (INIS)

    Riviere, Nicolas

    2013-01-01

    Natural gas has a growing importance in the European Union energy. However, because of the lack of resources in its territory, the EU is highly dependent on imports to meet its gas needs. In parallel, since 1998 the EU seeks the creation of a single and liberalized natural gas market. The aim of this thesis is to investigate whether the gas market liberalization can create a risk for importers' bargaining power and more widely to the gas security of supply of the EU. The first chapter provides an overview of the European gas market. It deals with the implementation of the process of gas market liberalization, the external dependency of the EU and the weakness of gas supply diversity. Using findings from the previous chapter, the second one proposes a model from the cooperative game theory to analyze the effects of the EU natural gas market liberalization on importers' bargaining power. It shows that the liberalization weakens importers' bargaining power vis-a-vis external suppliers, where Russia is the leader. It also shows that the implementation of a European gas purchasing agency offers a counter-power to the EU that balances bargaining power. The third chapter focuses on the development of LNG in the world and more specifically in the EU market. The development of LNG in Europe allows the entry of new operators on the upstream and, thus, increases competition among the EU's suppliers for the benefit of importers' bargaining power. The last chapter analyzes the impact of US shale gas development on the EU gas market. Thus, it shows that development is accompanied by an uncertainty about the future gas demand in the EU and by a reconsideration of the EU's long-term contracts. (author)

  6. Present market for nuclear energy

    International Nuclear Information System (INIS)

    Marzo, M.A.S.

    1987-01-01

    The present market for nuclear energy is present since nuclear production and electric power generation to the utilization of radioisotopes in medicine and biology. Some data about the main world suppliers to this market are shown. (E.G.) [pt

  7. Renewable Energy Policy Fact sheet - European Union

    International Nuclear Information System (INIS)

    2017-09-01

    The EurObserv'ER policy profiles give a snapshot of the renewable energy policy in the EU Member States. The European Union aims to achieve a 20% share (with legally binding national targets) of its final energy consumption from RES by 2020, and at least a 27% share (not broken down into nationally binding targets) by 2030. Key instruments at EU level to promote RES include directives, such as the 2009 Renewable Energy Directive. The EU Emission Trading Scheme (ETS) is also intended to support RES. The European Commission has also adopted state aid guidelines to ensure that support schemes to promote RES at national level are compatible with EU competition law and internal market rules. Further instruments are research, development and innovation funding programmes, such as Horizon2020, the Innovation Fund, and the NER300 programme. RES are also supported through regional development funds as well as through grants and loans for RES projects and related infrastructure from the European Investment Bank (EIB) and the European Fund for Strategic Investments (EFSI). A recast directive on the promotion of RES in the period 2020- 2030 is to be adopted along with governance rules to ensure that the EU-wide RES target for 2030 is met

  8. The European energy community, it is for now

    International Nuclear Information System (INIS)

    Andoura, S.; Buzek, J.; Delors, J.; Vitorino, A.

    2013-01-01

    Given that the European Council (on 22. May) mentioned the stakes involved for a common European energy policy, and that France's president has juts made another call to set up a European energy community, it is time to properly identify the main challenges that have to be met for such a project. The energy transition, that requires a deep change in our ways of producing, transporting and using energy, could be the basis of this new common policy. This new policy may follow 3 axis: first achieving the integration of a common energy market that will simulate the competitiveness of the European energy operators, secondly the security of supply implies a diversification of energy sources that could be reached through a stronger European solidarity, and thirdly a better cooperation between states for coordinating the construction of new infrastructures

  9. Norwegian Natural Gas. Liberalization of the European Gas Market

    International Nuclear Information System (INIS)

    Austvik, Ole Gunnar

    2003-01-01

    Leading abstract. This book focuses on issues that are important for Norway as a major gas exporter and to the development of a liberalized European market. Chapter 2 explains main features of the European gas market. Natural gas is sold in regional markets with independent pricing structure and particularities. In Europe, this has led to large investments for the producers and long-term contracts. The strong market growth and EU's actions to liberalize the market may change this. The organization of the Norwegian gas production and sale is discussed, as well as the reorganization taking place in 2001. Pricing mechanisms are discussed in Chapter 3, both in the ''old'' / existing structure and how a liberalization of the market may change price formation. The increased importance of energy taxation in EU countries is covered in Chapter 4. Even though natural gas is the most environmentally friendly of the fossil fuels, the use of natural gas may be taxed far harder in the future. The report discusses price effects of such a development. Chapter 5 discusses whether or not a gas producer, like Norway, necessarily must earn a resource rent. With the use of economic theory for exhaustible resources it is shown how prices to consumers may increase at the same time as prices to producers drop, where the difference is made up by higher gas taxes to the consuming countries. Transportation of natural gas involves considerable scale advantages and there are often scope advantages from production, storage and sale, as well. Chapter 6 discusses how competition and regulation may influence the functioning and social efficiency of the market, and the concentration of market power. When companies become large, they may exploit market power, supported by the authorities of their respective countries. Chapter 7 focuses on regulatory challenges for the EU, and how the transporters may change between conflicting and cooperation with the EU. Chapter 8 focuses on schedules for

  10. Liberalization of energy markets

    International Nuclear Information System (INIS)

    2004-01-01

    During the last decade, the supply of electricity has been liberalized in the Nordic countries - first in Norway in 1991 and most recently in Iceland in 2003. After the liberalization process the consumers can freely choose the end-use supplier that offers the most attractive prices and conditions of supply. This development has opened up new opportunities for the consumer, but has also created new problems. The amount of kWh consumed and the composition of the electricity price determines the extent to which a consumer can influence annual expenses by being active on the market. After liberalization the consumer price is composed of: The market price for electricity; Transmission tariffs; Consumer and energy taxes. Only the market price can be influenced by an active consumer. Most consumer problems are a result of the system with indirect metering that was introduced to make it costless for small consumers to change supplier. An individual consumer's consumption is calculated according to the average consumption profile for all small consumers in the local distribution area and not according to her actual consumption. As metering is only taking place with intervals of one to several years many consumers have received invoices with large additional payments. Complaints are also common against distribution companies that have taken too long time to transfer the necessary information to the suppliers or have done it wrongly. The right solution would be to introduce intelligent meters that, in addition, could provide the consumers with new opportunities to monitor their electricity consumption. Such initiatives are now taking place in all four countries but it will take some years to provide intelligent meters to all consumers. Liberalization has caused an increasing number of consumer complaints. However, it has become less transparent to whom the complaint should be directed. When is it the distribution company and when the end-use supplier? This problem continues

  11. 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.

  12. 'Normal' markets, market imperfections and energy efficiency

    International Nuclear Information System (INIS)

    Sanstad, A.H.; Howarth, R.B.

    1994-01-01

    The conventional distinction between 'economic' and 'engineering' approaches to energy analysis obscures key methodological issues concerning the measurement of the costs and benefits of policies to promote the adoption of energy-efficient technologies. The engineering approach is in fact based upon firm economic foundations: the principle of lifecycle cost minimization that arises directly from the theory of rational investment. Thus, evidence that so-called 'market barriers' impede the adoption of cost-effective energy-efficient technologies implies the existence of market failures as defined in the context of microeconomic theory. A widely held view that the engineering view lacks economic justification, is based on the fallacy that markets are 'normally' efficient. (author)

  13. 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

  14. 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.

  15. European energy exchanges: Too many casino's and too little time

    International Nuclear Information System (INIS)

    Zewald, H.

    2001-01-01

    The European energy market has the potential of developing into a booming business, and not just for Europeans. Now that liberalization is seriously taking shape and internet trade has overcome its teething troubles, the Europeans are setting up one exchange after another and the Americans are crossing the Atlantic with a lot of dollar signs in front of their eyes to play poker or roulette. 1 ref

  16. 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...

  17. 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)

  18. EU Energy Law. Volume 1. The Internal Energy Market. 2. ed.

    International Nuclear Information System (INIS)

    Jones, C.; Webster, W.

    2006-06-01

    European energy markets are undergoing rapid and fundamental change. In 2005 the European Council and European Parliament adopted the second energy liberalisation package, including the new electricity and Natural Gas Directives and the Electricity Regulation. In addition, the European Commission tabled new Directives on Security of Supply and a draft Natural Gas Regulation. This is affecting markets not only in the European Union, but throughout Europe, the Mediterranean, the Balkans and Russia. These changes have affected not only energy law. Community competition law in the energy sector has been evolving quickly, reacting to the restructuring of the markets, and the new commercial partnerships that result. EU Energy Law is a complete and essential reference work for all those advising on and implementing in practice the enormous changes in today's electricity and gas markets. It is written for both legal specialists and for those working in industry responsible for overseeing the move towards open and competitive markets

  19. Energy market barometer report 1 - Fall 2013

    International Nuclear Information System (INIS)

    Schleich, Joachim; Cateura, Olivier; Faure, Corinne; Molecke, Greg; Olsthoorn, Mark; Pinkse, Jonatan; Vernay, Anne-Lorene

    2014-01-01

    The Grenoble Ecole de Management (GEM) Energy Market Barometer Report aims to track the key trends and challenges of the energy market, on a regular basis, in collaboration with the 'ZEW', the Center for European Economic Research. This edition analyses the expectations of the energy market experts on the role of shale gas, the future electricity mix in France, and the development of energy prices. Key findings: - Two out of three experts believe that exploring shale gas will be authorized in France in the future; - It will take France approximately 30 years to meet the government's goal of reducing the share of nuclear power in the electricity mix from 76% (current) to 50%; - Most experts believe the prices for electricity, gas, oil, coal and CO_2 certificates will remain relatively stable over the next 6 months, but they will increase over the next 5 years

  20. Canadian wind energy technical and market potential

    International Nuclear Information System (INIS)

    Templin, R.J.; Rangli, R.S.

    1992-01-01

    The current status of wind energy technology in Canada is reviewed, the technical potential of wind energy in Canada is estimated, and the economic market potential is assessed under several scenarios over about the next 25 years. The technical potential is seen to be large, with applications to water pumping on farms, the coupling of wind turbines to diesel-electric systems in remote communities where fuel costs are high, and the supply of electricity to main power grids. The main-grid application has greatest technical potential, but it cannot be economically exploited under the present utility buyback rate structure for intermittent power sources. A change in government policy toward market development of renewable energy sources, such as is already taking place in several European countries, would greatly increase market potential, decrease emissions of CO 2 and SO 2 , and benefit the Canadian wind energy industry. 2 figs., 1 tab

  1. 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

  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. 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

  4. The nuclear industry and its European markets

    International Nuclear Information System (INIS)

    1998-01-01

    This study gives an overview of the worldwide nuclear energy demand and reviews the different markets which are classified as 'mature' (uranium extraction, enrichment, conversion and reactors building), 'developing' (reprocessing, MOX fuel fabrication, maintenance and services) and 'emerging' (waste treatment and dismantling). Then, the study analyzes the evolution of demand and the answers of companies and presents the strategies and performances of nuclear industry leaders. (J.S.)

  5. Wind offering in energy and reserve markets

    DEFF Research Database (Denmark)

    Soares, Tiago; Pinson, Pierre; Morais, Hugo

    2016-01-01

    The increasing penetration of wind generation in power systems to fulfil the ambitious European targets will make wind power producers to play an even more important role in the future power system. Wind power producers are being incentivized to participate in reserve markets to increase...... their revenue, since currently wind turbine/farm technologies allow them to provide ancillary services. Thus, wind power producers are to develop offering strategies for participation in both energy and reserve markets, accounting for market rules, while ensuring optimal revenue. We consider a proportional...... offering strategy to optimally decide upon participation in both markets by maximizing expected revenue from day-ahead decisions while accounting for estimated regulation costs for failing to provide the services. An evaluation of considering the same proportional splitting of energy and reserve in both...

  6. What energy policy for the European Union?

    International Nuclear Information System (INIS)

    2007-01-01

    The energy question is becoming ever more important. Proper management of energy resources is a strategic challenge that will determine our economic development and even the preservation of our way of life. Looking further into the future, failure to grasp energy-related problems could be seriously prejudicial to the future of our planet (global warming). Because of the rise in prices of fossil fuels resulting from the gradual exhaustion of resources and the political instability reigning in the principal production zones, the disputes over gas between Russia and certain former Soviet republics, massive electricity blackouts, etc, public opinion is now particularly sensitive to these new threats and is looking to decision-makers, at both national and European level, to draw up policies capable of responding to these concerns. Over the past two years, European institutions have in fact taken an increasing number of initiatives in the energy field. This work has, in particular, identified the following three major objectives: - combating global warming, which implies the definition of an energy mix compatible with environmental constraints (reduction in emissions of greenhouse gases), - ensuring security of supply, an ever-growing concern, given the growing dependency of EU Member States on imports of energy, and - safeguarding the competitiveness of the European economy. Despite this work, the only tangible achievement in the energy field in Europe, and one that is still incomplete, concerns the liberalisation of the gas and electricity markets. Apart from the fact that this policy is sometimes badly perceived by European populations, being regarded as responsible for the current rise in prices, Europe cannot be satisfied with tackling just this aspect of affairs. In this respect, energy provides an opportunity to re-launch the construction of Europe both internally (drawing up of a joint agreement regarding energy options, R and D programmes, energy saving, etc

  7. Learnings from liberalised energy markets

    DEFF Research Database (Denmark)

    The paper presents a number of overlooked problems in liberalised electricity markets, including supply security, environmental concerns and establishment of a sustainable energy development.......The paper presents a number of overlooked problems in liberalised electricity markets, including supply security, environmental concerns and establishment of a sustainable energy development....

  8. The European energy community is now

    International Nuclear Information System (INIS)

    Andoura, Sami; Buzek, Jerzy; Delors, Jacques; Vitorino, Antonio

    2013-01-01

    On the eve of the European Council on 22 May dealing with energy issues, the Jacques Delors Institute publishes a Tribune calling for the implementation of a positive agenda for the European energy policy and the definition of the concrete bases of a genuine European Energy

  9. European integration, energy and environment

    International Nuclear Information System (INIS)

    Nurmento, L.

    1993-01-01

    Today the creation of the internal market in EC is even reaching the field of energy although there are many difficulties caused by differences between the Member States. The Scandinavian Countries are advancing considerably further in liberating the energy market than the EC-outlines in evidence today. Environmental protection has gained more significance in EC recently. The most important regulations and directives are included in the EEA agreement. The directives are included in the EEA agreement. The implementation of the norms would not demand an increase in the level of environmental protection we have in Finland but it seems to be the target of enforcement to issue more strict limits than those in EC-directives. This kind of development can severely weaken Finland's ability to compete: especially as compliance with the directives is still a significant problem in EC

  10. Trends in the development of energy markets

    International Nuclear Information System (INIS)

    Penkov, P.; Donchev, A.; Stefanova, E.

    2000-01-01

    The 20th annual energy symposium (7-8 Dec., 1999, Houston) has been organized by 'Arthur Andersen' company. The main subjects presented are: research, monitoring and assessment of the market risk by BUMP system; electro-energy systems development; energy markets transformation including their liberalization and convergence; necessity of investment capital and possibilities for its effective increasing; structural reform in electric energy sector, in accordance with the European requirements. A review on the achievements and problems in the energy field in the Central and Eastern European countries during the years after the democratic changes is presented at the round table discussion. It is outlined the significance of the operating energy laws in this countries and increasing productivity, and efficiency of the former government electricity companies for the development of corporations. The process of transformation and privatization in some countries in Central and Eastern Europe: Hungary, Poland, Romania, Czech Republic, Latvia, Lithuania is analyzed. As a result of the reports delivered at the 20th yearly symposium, conclusions are made that even in the developed countries the production competition gets into trouble. The right field of market competition in electric-energy field isn't a struggle for production but it is a struggle for investments

  11. 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

  12. Demand response in energy markets

    International Nuclear Information System (INIS)

    Skytte, K.; Birk Mortensen, J.

    2004-11-01

    Improving the ability of energy demand to respond to wholesale prices during critical periods of the spot market can reduce the total costs of reliably meeting demand, and the level and volatility of the prices. This fact has lead to a growing interest in the short-run demand response. There has especially been a growing interest in the electricity market where peak-load periods with high spot prices and occasional local blackouts have recently been seen. Market concentration at the supply side can result in even higher peak-load prices. Demand response by shifting demand from peak to base-load periods can counteract the market power in the peak-load. However, demand response has so far been modest since the current short-term price elasticity seems to be small. This is also the case for related markets, for example, green certificates where the demand is determined as a percentage of the power demand, or for heat and natural gas markets. This raises a number of interesting research issues: 1) Demand response in different energy markets, 2) Estimation of price elasticity and flexibility, 3) Stimulation of demand response, 4) Regulation, policy and modelling aspects, 5) Demand response and market power at the supply side, 6) Energy security of supply, 7) Demand response in forward, spot, ancillary service, balance and capacity markets, 8) Demand response in deviated markets, e.g., emission, futures, and green certificate markets, 9) Value of increased demand response, 10) Flexible households. (BA)

  13. Transactive Energy Trajectories of the European and Croatian Energy Policy

    International Nuclear Information System (INIS)

    Toljan, I.

    2014-01-01

    The concept of transactive energy requires harmonized operation of all entities involved in the electrical power system on market-oriented bases. Each country creates independently its direction of the development (trajectory) of its power sector, but within the framework of basic trajectories laid down by the acquits communautaire, some of which are mandatory and some of which are only recommended. Transactive energy uses economic signals or incentives for using all available new technologies in the energy sector, from production to consumption, in a way that is definitely more efficient than the previous one. The trajectories are determined by the implementation policy whose principal characteristic is non-acceptance of delay in making decisions. The benchmarking system has been introduced. After setting the goals for 2020, the acquits communautaire additionally set very ambitious goals for 2030, which will also be reflected on the costs of energy generation, and consequently on the input costs of the European economy. The intention is to reduce CO2 emission from the energy sector by 80 percent until 2050. The development of exploitation of gas deposits and the introduction of new technologies places the USA on the global level in a completely different position than before. Coal is being gradually substituted by gas, which has so far been the dominating energy source for generation of electrical energy. The results of analyses indicate that gas supply in the USA will be three times cheaper than in Europe in the next 100 years. Taking into consideration the intended application of the current drilling technology also in Europe, it is to be expected that a significant change in the European energy policy will occur. There are also forecasts in the Republic of Croatia that might significantly change the picture of the Croatian energy industry. It should be kept in mind that finding new energy sources does not imply abandoning the concept of liberalized market

  14. The Ontario Energy Marketers Association

    International Nuclear Information System (INIS)

    Baker, W.F.C.

    1998-01-01

    An overview of the role of the Ontario Energy Marketers Association (OEMA) and its future orientation was presented. Participants in the OEMA include agents, brokers, marketers, local distribution companies, public interest representatives, associations and government representatives. The role of the OEMA is to encourage open competition for the benefit and protection of all energy consumer and market participants. As well, the OEMA serves as a forum for key industry stakeholders to resolve market issues outside the regulatory arena, set standards and codes of practice, establish customer education programs, and develop industry input into public policy making

  15. Energy independence versus world market

    International Nuclear Information System (INIS)

    Noel, P.

    2003-01-01

    The geo-policy is the unity of the rules and political actions coming from taking into account the problem of the national energy demands facing the world energy market. The aim of this paper is to show that these actions are confronted to two paradigms of public policy. One is the research of the energy policy, the other is the effort of building and safety of the world market. (A.L.B.)

  16. Energy economics and financial markets

    Energy Technology Data Exchange (ETDEWEB)

    Dorsman, Andre [Vrije Univ. Amsterdam (Netherlands). Dept. of Finance; Simpson, John L. [Curtin Univ., Perth, WA (Australia). School of Economics and Finance; Westerman, Wim (eds.) [Groningen Univ. (Netherlands). Faculty of Economics and Business Economics, Econometrics and Finance

    2013-10-01

    Deals with the upcoming theme of energy issues. Links energy issues with economics and financial markets. Combines global focus with specific regional and local examples. Unites theoretical insights with timely data and practical insights. Specialized author team from all over the world. Energy issues feature frequently in the economic and financial press. Specific examples of topical energy issues come from around the globe and often concern economics and finance. The importance of energy production, consumption and trade raises fundamental economic issues that impact the global economy and financial markets. This volume presents research on energy economics and financial markets related to the themes of supply and demand, environmental impact and renewables, energy derivatives trading, and finance and energy. The contributions by experts in their fields take a global perspective, as well as presenting cases from various countries and continents.

  17. 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.)

  18. The European Energy Charter Treaty

    International Nuclear Information System (INIS)

    Jones, K.

    1996-01-01

    The history, purpose, scope and the main topics of the treaty are highlighted. Special attention is paid on problems of trading, competition, transit, technology transfer and access to capital markets; support and protection of investments; resolution of disputes; provisional clauses governing trade with GATT non-member states; structural and institutional provisions concerning the execution and function of the protocol, tasks of the Charter conference and secretariat including their equipment, rules of conduct and financing. The Charter is setting up a framework for co-operation, trade and investment in energy products and services with countries of Eastern Europe and the former Soviet Union, based on principles of free-markets and non-discrimination

  19. Wind offering in energy and reserve markets

    Science.gov (United States)

    Soares, T.; Pinson, P.; Morais, H.

    2016-09-01

    The increasing penetration of wind generation in power systems to fulfil the ambitious European targets will make wind power producers to play an even more important role in the future power system. Wind power producers are being incentivized to participate in reserve markets to increase their revenue, since currently wind turbine/farm technologies allow them to provide ancillary services. Thus, wind power producers are to develop offering strategies for participation in both energy and reserve markets, accounting for market rules, while ensuring optimal revenue. We consider a proportional offering strategy to optimally decide upon participation in both markets by maximizing expected revenue from day-ahead decisions while accounting for estimated regulation costs for failing to provide the services. An evaluation of considering the same proportional splitting of energy and reserve in both day- ahead and balancing market is performed. A set of numerical examples illustrate the behavior of such strategy. An important conclusion is that the optimal split of the available wind power between energy and reserve strongly depends upon prices and penalties on both market trading floors.

  20. 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

  1. European Union energy policy integration: A case of European Commission policy entrepreneurship and increasing supranationalism

    International Nuclear Information System (INIS)

    Maltby, Tomas

    2013-01-01

    Focusing on gas, this article explores the role of the European Commission in the process of European Union energy security policy development, and the extent to which the policy area is becoming increasingly supranational. Situating the article within the literature on agenda-setting and framing, it is argued that a policy window was opened as a result of: enlargement to include more energy import dependent states, a trend of increasing energy imports and prices, and gas supply disruptions. From the mid-2000s, the Commission contributed to a shift in political norms, successfully framing import dependency as a problem requiring an EU-level solution, based on the institution’s pre-existing preferences for a diversified energy supply and internal energy market. Whilst Member States retain significant sovereignty, the Commission has achieved since 2006 creeping competencies in the internal, and to a lesser extent external, dimensions of EU energy policy. - Highlights: ► We examine the development of EU energy security policy, focusing on gas. ► We examine changes in European Commission competence in energy policy. ► The European Commission has gained increased competence in the internal market. ► In the external dimension of EU energy policy Member States retain competence. ► The European Commission has had qualified success as a policy entrepreneur

  2. East European energy. Romania's energy needs persist

    International Nuclear Information System (INIS)

    Smith, Elliott C.; Denman, Sara B.; Kutnick, Bruce; Schultz, John R.; Foley Hinnen, Patricia; Bylsma, Peter J.

    1992-08-01

    Romania's economic growth and development have been hampered by declining domestic energy production and disrupted fuel imports, creating an energy shortage. Consequently, homes and businesses lack sufficient light and heat, and industrial output has fallen. In order to ensure sufficient energy supplies in the future, Romania is taking steps to decentralize its state-owned energy industries, modernize its outdated facilities and equipment, diversify its fuel sources, and eliminate its inefficient production practices. To accomplish these objectives, Romania needs substantial foreign trade and investment, according to Romanian officials. However, despite government efforts to reform the energy sector and improve the business climate, impediments to U.S. trade with and investment in Romania persist. These barriers include lack of a comprehensive energy strategy, underdeveloped legal and business infrastructures, uncertain economic and political conditions, and the absence of U.S. most-favored-nation trade status. Recent efforts by the Romanian and U.S. governments to overcome the barriers to most-favored-nation status have led to progress in this area. U.S. government and international agencies have initiated a variety of efforts to assist Romania's energy sector. For example, the Agency for International Development (AID) funded an Emergency Energy Program; the U.S. Trade and Development Program is evaluating requests to fund several feasibility studies in the power generation sector; and the Department of Commerce offers energy-related information exchanges and trade missions to Romania. International organizations such as the World Bank and the European Investment Bank have also granted loans for energy sector development projects in Romania

  3. 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

  4. 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

  5. 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.)

  6. Wind energy: A review of technical and market issues

    Energy Technology Data Exchange (ETDEWEB)

    Garrad, A.D. [Garrad Hassan & Partners Ltd., Bristol (United Kingdom)

    1996-12-31

    Opinions on the world market for wind power are presented in this paper. The paper is divided into three sections: the market, the technology, and general conclusions. The market section compares European and US wind energy growth and contributing factors and barriers to growth. A technology overview discusses wind turbine concepts, mass reduction, blade structural flexibility, and growth in machine size. Political decisions, economic aspects, public acceptance, and technology limitations are assessed for their influence on the growth of wind energy. 11 figs.

  7. Energy, the UK and the European Community

    International Nuclear Information System (INIS)

    Lucas, N.

    1982-01-01

    The emphasis of effort in European energy policy should be placed on external relations rather than internal regulation. The divergence of the interests of the United States and Europe in energy policy will no longer allow Europe to depend on US initiative. The temporary relaxation of world oil markets has engendered unrealistic complacency. The European Community must develop its important role as a means whereby the member states can formulate common initiatives to press within international institutions. Strong presentation of interests externally has to be complemented by internal adaptation. The Community has at the moment few means of influencing the form and nature of energy investment. This paper proposes a fund of the order of Pound1 bn per annum to be used for the promotion of projects whose intrinsic benefits are not fully translated into commercial advantage and which need political stimulus. Such a Fund might be, but need not necessarily be, financed by a small levy on imported oil. The UK should present more aggressively the considerable benefits which accrue to the Community from UK resources. There is perhaps an opportunity to take a more extrovert view of the relationship between the UK and the continental gas transport systems. (author)

  8. European Union definitely introduces common taxes on energy

    International Nuclear Information System (INIS)

    Schoenweisner, R.

    2003-01-01

    In this paper taxes of the European Union on energy are reviewed. European Union Ministers of environment Council definitely ratified new common system of minimal energy taxes in last week. Council introduces par excellence minimal all-European size of an electricity, coal and natural gas consumption tax. New directive according to European Commission will improve operation of internal market and eliminate deformation of competitive environment among individual members as well as among mineral oils and the other energy sources. Slovak Republic taxes all motor fuel types by higher charge as is minimal level demanded by EU according to new directive after rising of consumable tax from mineral oils in August 2003. According to Minister of Finances Slovak Republic demanded European Union for a temporary 10-year period for utilizing electricity, coal, coke, and natural gas consumption tax. According to Ministry, Utilizing new taxes and rising of tax load is not in interest of started tax reform in Slovak Republic

  9. 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.

  10. BDI position on energy policy and energy market deregulation

    International Nuclear Information System (INIS)

    Kreklau, C.

    2003-01-01

    Secure energy supplies are indispensable for our modern way of life and our economy. Energy policy is a part of economic policy and must be shaped within the magic triangle of objectives, i.e. security, competitiveness, environmental compatibility. As a result of their outstanding role, electricity and natural gas, with respective shares of 70% in industrial energy use and 85% in energy costs, are in the focus of energy policy interest of the Federation of German Industries (BDI). One important development over the past few years has been the deregulation of the markets for electricity and gas. However, the markedly lower electricity rates to be paid by industry, commercial tariff consumers, and private customers are being offset by new burdens arising from government intervention and taxes. Other dirigistic interventions into the energy market by the red-green federal government since 1998, referred to as 'turning point of energy policy', are invalidating what market opening had been achieved. With a view to a sustainable energy policy for the future, BDI pleads in favor of a broad energy mix. In a mix neutral with respect to competition, this includes the classical energy sources, the renewables, and low-cost, environmentally friendly nuclear power. In principle, it is the forces of the market, coupled with responsible action, which are to steer further developments. On a European level, speedy implementation of the opening of the electricity and gas markets, as decided, should be urged. It is important that the leeway won as a result of deregulation not be constrained again by new regulations. More market, less regulation, and more direct responsibility must provide room for a powerful energy supply system under the premises of the triangle of objectives referred to above. (orig.) [de

  11. The European Nuclear Energy Tribunal

    International Nuclear Information System (INIS)

    Marchetti, D.

    1977-01-01

    The European Nuclear Energy Tribunal was set up within the Organisation for European Economic Co-operation (now the Organisation for Economic Co-operation and Development) on 20th December 1957 under the Convention on Security Control. Seven independent judges are appointed for five years by decision of the Council of the Organisation; if the Tribunal includes no judge of the nationality of a party in a dispute submitted to it, the Government concerned may select an additional judge in that case. The Tribunal is competent in matters of security control, third party liability and activities of one of the Organisation's joint undertakings. At the request of any Government party to the Security Control Convention, to the Eurochemic Convention or to the Paris Convention and Brussels Supplementary Convention it may be convened to resolve any dispute concerning the interpretation or application thereof. While the Tribunal has not yet been called upon to exercise its judgment it is nonetheless an important and necessary instrument for Member States engaged in nuclear activities at international level. (NEA) [fr

  12. The role of regulation in Europe's energy markets

    International Nuclear Information System (INIS)

    Jones, Ch.

    2005-01-01

    In this paper, the author emphasizes the two main issues of the role of a regulation authority in the de-regulated European internal energy markets: regulation and competition and regulation and security of supply. He explains the manner in which the European Commission will organize the preparation of new or revised guidelines under the regulation. (J.S.)

  13. Preparing Europe for a single market in energy

    International Nuclear Information System (INIS)

    Anon.

    1990-01-01

    By the end of 1992 a ''single market'' in the European Community should be in place. While the energy sector was not included in the ''White Paper'' which planned the single market, it soon became obvious that it could not be excluded. The single market in energy is intended to integrate energy supply in the member states and remove barriers to trade. It has been calculated that these barriers cost the Community 20-30 billion ecus ($15-20 billion) every year. Removing the barriers will result in much greater competition within the energy market. The Commission published a working document, the internal energy market, in May 1988. This report described the real and potential obstacles to the single energy market for each of the principal energy sources and suggested priorities which should be addressed. The strategy suggested in the report is outlined here, and recent developments briefly reviewed. (author)

  14. 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.

  15. 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...

  16. EU Energy Market and Regulation enter a new Framework: Energy Union

    International Nuclear Information System (INIS)

    Sencar, M.

    2015-01-01

    Energy Union provides a new framework for market and regulation. This contribution discusses its main elements (dimensions), in particular energy market functioning. Energy Union adds some new focal points to its development, e.g. research and innovation, in addition to sustainability. Energy Union also aims at improving customers position on the market, and paves the way for efficiency enhancements in regulation and market monitoring at European level. Three aspects of potential future improvements are discussed how the existing Agency for the Cooperation of Energy Regulators may further contribute to the efficient market functioning and implementation of planned infrastructure investment. (author).

  17. 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)...

  18. 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.

  19. Integration of liberalised energy market

    International Nuclear Information System (INIS)

    Klinge Jacobsen, H.; Fristrup, P.; Munksgaard, J.; Pade, L.L.; Henriksen, T.C.

    2004-03-01

    The markets for electricity, natural gas and district heating are inter-linked both with respect to the energy flows and with respect to ownership of supply sources and infrastructure. The extent and the possible consequences of these linkages are examined in this report. The options for public interventions in these markets are analysed to compare instruments with respect to their ability to provide the necessary incentives for an efficient functioning of the liberalised markets. Aspects of retail markets with households facing multi-product distribution companies and aspects of the production of combined heat and power based on natural gas has been covered. This project identifies some important aspects related to final consumers and the interaction of markets with different types of regulation and scope for liberalisation. From a Danish perspective the district heat market and the dependence on market conditions for natural gas is a specific concern. Consumer concerns also relate to the creation of multi-product energy distribution companies that are privately owned and possibly controlled by foreign interests. Such companies might use bundled sales of energy products to extent their dominant position in one market e.g. a regulated heat market to a market with considerable competition (electricity). Bundled sales would not necessarily result in a loss for the consumer due to economies of scope in supplying energy products. However, the regulatory authorities responsible for district heat prices will have a more complicated job in surveying the bundled price setting. Integration of activities within natural gas distribution and CHP production has been analysed with respect to incentives and welfare implications. Results of the project point to critical market conditions and identify areas of concern for regulatory policies. The analysis shows that there is a large welfare loss associated with having monopolies in both natural gas supplies and the CHP production

  20. Energy Policies of IEA Countries: European Union 2008 Review

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-07-01

    For the first time, the IEA has reviewed the energy policies of the European Union which shape the energy use of almost 500 million citizens in 27 EU member countries. A unique entity governed under complex and almost constantly evolving structures, the EU constitutes a challenge for energy policy makers. Its energy policy has a global impact, not only because of its 16% share of world energy demand, but also because of the EU leadership in addressing climate change. Strong policy drives are underway in the EU to achieve the completion of the internal energy market, increase renewable energy supply, reduce CO2 emissions and make the EU more energy-efficient. Concerns about security of supply have also led to a greater focus on improved energy relations with supplier countries, and new institutional structures are being put in place. How much progress has been made in the field of security, internal market and external energy policies? And in which of these areas has the EU already implemented a fully integrated policy? IEA Energy Policies Review: The European Union - 2008 addresses these questions and also analyses the impact of the most recent major EU policy measures, in particular the Energy & Climate Package of January 2008 and the 3rd Liberalisation Package of September 2007. This book finds that both of these proposals are highly ambitious. But implementing them and reviewing both volume and allocation of energy R&D will be necessary to achieve a sustainable energy future in a fully competitive integrated EU energy market.

  1. Portfolio diversification in energy markets

    International Nuclear Information System (INIS)

    Galvani, Valentina; Plourde, Andre

    2010-01-01

    This paper's results indicate that futures for crude oil, natural gas and unleaded gasoline fail to enhance the performance of representative energy stocks in terms of return to risk, but do decrease the overall level of risk exposure borne by passive equity investors. Our findings suggest that futures contracts on energy commodities are valuable to market participants with an interest in hedging against price fluctuations in energy markets by buy-and-hold strategies. However, this conclusion is reversed when one takes the perspective of traders whose core interests can be better approximated through the return to risk-bearing. In fact, this paper documents that return-to-risk maximizing agents are unlikely to profit from trading energy futures in addition to energy stocks. Moreover, futures for energy commodities fail to offer significant diversification gains with respect to energy stocks once investors adopt simple dynamic trading strategies that rely on readily available pricing information. (author)

  2. Portfolio diversification in energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Galvani, Valentina; Plourde, Andre [Department of Economics at the University of Alberta, Edmonton, AB (Canada)

    2010-03-15

    This paper's results indicate that futures for crude oil, natural gas and unleaded gasoline fail to enhance the performance of representative energy stocks in terms of return to risk, but do decrease the overall level of risk exposure borne by passive equity investors. Our findings suggest that futures contracts on energy commodities are valuable to market participants with an interest in hedging against price fluctuations in energy markets by buy-and-hold strategies. However, this conclusion is reversed when one takes the perspective of traders whose core interests can be better approximated through the return to risk-bearing. In fact, this paper documents that return-to-risk maximizing agents are unlikely to profit from trading energy futures in addition to energy stocks. Moreover, futures for energy commodities fail to offer significant diversification gains with respect to energy stocks once investors adopt simple dynamic trading strategies that rely on readily available pricing information. (author)

  3. Report 2 Energy Market Barometer - Summer 2014

    International Nuclear Information System (INIS)

    Schleich, Joachim; Cateura, Olivier; Faure, Corinne; Jacob, Jojo; Javaudin, Laurent; Molecke, Greg; Olsthoorn, Mark; Pinkse, Jonatan; Vernay, Anne-Lorene

    2014-09-01

    This Summer's edition of the Grenoble Ecole de Management (GEM) Energy Market Barometer documents the French energy experts' expectations of the impact of the Ukraine crisis on energy supply, the focus of energy policy in France, the economic implications of the energy transition, and the development of energy prices. The findings on the Ukraine crisis are also compared to a parallel survey in Germany, which was carried out by the Center for European Economic Research (ZEW). Key findings: - Half the French experts believe that the Ukraine crisis has worsened the security of natural gas supply in France; - Appropriate responses to the Ukraine crisis include strengthening the EU energy market integration, and investing in pipelines and in liquefied natural gas infrastructure; - The high perceived emphasis on energy efficiency in the current French energy policy is justified, but the focus on affordability for households and security of supply appears somewhat overrated; - The French energy transition is expected to hurt utilities, but to benefit technology providers and the economy as a whole; - Most experts believe the prices for electricity, gas, oil, and coal will remain relatively stable over the next 6 months, but they will increase over the next 5 years (except coal); - Expected prices of CO_2 certificates have slightly increased since the previous barometer report, in particular for the medium term

  4. 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, ...

  5. 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

  6. Competing in changing energy markets

    International Nuclear Information System (INIS)

    Hannell, M.D.

    1995-01-01

    This paper presents two perspectives: first, that of a successful exporter of energy products into world markets and second, that of a producer and seller of energy to consumers in South Australia and New South Wales - a large proportion of whom are privately and publicly owned trading organisations. It looks at Santos' experience in winning export markets for its liquid products; provides an overview of the changes - occurring and prospective to the Australian energy sector; and finally, discusses the outlook for Santos' South Australian gas business. The Australian energy-supply sectors have entered a period of unprecedented change. With energy being a contributor, and in many cases accounting for a large share of a traded good's cost, the impact of the emerging developments in the energy sector are of considerable significance

  7. Solar energy enters the market

    International Nuclear Information System (INIS)

    Coehoorn, M.; Sinke, W.C.

    1995-11-01

    Everybody agrees that there is a bright future for solar energy. After two decades of research and development, the market introduction of solar hot water systems is now taking off. In several countries, including the Netherlands, preparations are also underway for the large-scale introduction of photovoltaic systems. Although the share of thermal and photovoltaic solar energy in the energy supply sector in the Netherlands is very small (0.1 PJ) there are signs of imminent change. According to the Follow-up Policy Document on Energy Conservation, the share of solar energy should increase to 7 PJ by the year 2010. After years of concentrating on research and development, it is now generally recognised that it is time to introduce these technologies onto the market in order to realize the long-term objectives. In this respect, thermal solar energy is ahead of photovoltaics. 4 ills

  8. 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)

  9. 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.

  10. European schemes for promoting renewables in liberalised markets

    International Nuclear Information System (INIS)

    Meyer, Niels I.

    2003-01-01

    The paper describes possibilities and problems for penetration of supply systems based on renewable energy sources in liberalised markets. The analysis is based on recent development in EU with different models for support of installations based on renewable energy. These include feed-in models with guaranteed minimum tariffs, tender models for different bands of technologies, and green certificates trading models with obligatory consumer quota. The paper describes the market situation in selected European countries, including Germany, the UK, Holland and Denmark. An EU directive from September 2001 has postponed the decision on a possible harmonisation of promotional models until at least 2005 in order to obtain more practical experience with the different support schemes. A critical evaluation is given in this paper of the different models with proposals for a balanced development between environmental and trading concerns. It is argued that too much emphasis is presently given to the side of free trade at the expense of long range planning for a sustainable energy development

  11. 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...

  12. Evaluation of European energy behavioural change programmes

    Energy Technology Data Exchange (ETDEWEB)

    Gynther, L.; Mikkonen, I. [Motiva Oy, Urho Kekkosenkatu 4-6 A, 00100 Helsinki (Finland); Smits, A. [NL Agency, Swentiboldstraat 21, 6137 AE Sittard (Netherlands)

    2012-01-15

    This article is based on the findings of the BEHAVE Project (Evaluation of Energy Behavioural Change Programmes) which was supported by the European Commission under the EU Intelligent Energy-Europe (IEE) Programme. The project started with a review of behavioural theories and their applicability in the development and evaluation of energy-related behavioural change programmes, progressed to a case study analysis and finished with a publication of guidelines for programme developers and policy makers. This paper concentrates on the results of the case study analysis and the recommendations arising from it. In the case study analysis, information was collected on almost 100 cases aiming at behavioural change in energy use from 11 European countries. More detailed information was collected on 41 cases which were subject to meta-analysis to identify success factors and weak points and to gather information on the current evaluation practices in such programmes. The meta-analysis was carried out in five phases: context (pre-planning), planning, implementation, monitoring and evaluation. Planning and evaluation were recognised as two of the most critical phases. Many of the programmes operated with quite formal plans but were typically not based on scientific theories or evidence. In many cases, there was lack of market segmentation; the goals were not targeted and the programmes tried to offer 'everything to everybody'. A multitude of ex-post evaluation methods for programme impacts were reported ranging from participant surveys, testing and comparison with control groups to top-down method evaluating the impact of several programmes focusing on the same target group. Process evaluation (25 cases) was slightly less common than impact evaluation (29 cases). Evaluation of the cost-effectiveness of the programmes was a rarity, most likely due to difficulties in quantitative impact evaluation.

  13. European Gas Market Liberalisation. Competition versus security of supply?

    International Nuclear Information System (INIS)

    Haase, N.

    2009-01-01

    The problem statement encompasses two basic questions: (1) Which variables determine regulatory regimes and economic performance in European gas markets?; and (2) Can we empirically determine the effect of regulation-for-competition, as applied in the European Union, on the economic performance in the European gas markets? In the first part (chapters 1-5), the theoretical groundwork is laid out and conceptual clarifications are provided. In chapter 2, the main concepts such as governance and regulation, and their interrelations, are determined and the public regulation approach to be followed is outlined. The third chapter discusses our theoretical framework and the support required from other New Institutional approaches to deduce expectations regarding the convergence of regulatory regimes and its effect on economic performance. The fourth chapter contributes to answering our first research question by displaying the relevant variables and outlining how these can be operationalised. Based on the concepts of regulatory comprehensiveness and policy convergence, in chapter 5, a methodology is developed to measure best-practice in terms of regulation-for-competition. The second part (chapters 6-9) covers the first empirical analysis which is quantitative in design and emphasises effects originating at the Community level. Chapter 6 summarises the evolution of European gas policy at the Community level and searches for major changes in general or energy policy objectives and examines their prioritisation. Chapter 7 addresses the formal institutions on the second layer of the fourlayer model. Chapter 8 analyses converging and diverging trends within regulatory regimes in European gas markets. Chapter 9 sets out to assess the extent to which regulation-for-competition, as prescribed by the European provisions, can be empirically studied for its effect on economic performance in the European gas sector. To answer our second main research question, we discuss the effects

  14. 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

  15. 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 ...

  16. European observatory of the energy markets. Period 2004 and winter 2004/05; Observatoire European des marches de l'energie. Periode 2004 et hiver 2004/05

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2005-07-01

    The report underlines for the studied period many tendencies which could compromise the supplying safety: the prices increase of the primary energies, the production margins decrease during the peak period, the poor progression of the frontier exchange, and a weak of a long dated vision leading to the investments deficit in the infrastructures.

  17. 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

  18. 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

  19. An improved market penetration model for wind energy technology forecasting

    Energy Technology Data Exchange (ETDEWEB)

    Lund, P D [Helsinki Univ. of Technology, Espoo (Finland). Advanced Energy Systems

    1996-12-31

    An improved market penetration model with application to wind energy forecasting is presented. In the model, a technology diffusion model and manufacturing learning curve are combined. Based on a 85% progress ratio that was found for European wind manufactures and on wind market statistics, an additional wind power capacity of ca 4 GW is needed in Europe to reach a 30 % price reduction. A full breakthrough to low-cost utility bulk power markets could be achieved at a 24 GW level. (author)

  20. An improved market penetration model for wind energy technology forecasting

    International Nuclear Information System (INIS)

    Lund, P.D.

    1995-01-01

    An improved market penetration model with application to wind energy forecasting is presented. In the model, a technology diffusion model and manufacturing learning curve are combined. Based on a 85% progress ratio that was found for European wind manufactures and on wind market statistics, an additional wind power capacity of ca 4 GW is needed in Europe to reach a 30 % price reduction. A full breakthrough to low-cost utility bulk power markets could be achieved at a 24 GW level. (author)

  1. An improved market penetration model for wind energy technology forecasting

    Energy Technology Data Exchange (ETDEWEB)

    Lund, P.D. [Helsinki Univ. of Technology, Espoo (Finland). Advanced Energy Systems

    1995-12-31

    An improved market penetration model with application to wind energy forecasting is presented. In the model, a technology diffusion model and manufacturing learning curve are combined. Based on a 85% progress ratio that was found for European wind manufactures and on wind market statistics, an additional wind power capacity of ca 4 GW is needed in Europe to reach a 30 % price reduction. A full breakthrough to low-cost utility bulk power markets could be achieved at a 24 GW level. (author)

  2. French and european opinions about energy questions

    International Nuclear Information System (INIS)

    1992-03-01

    This paper presents a statistical study of french and european opinions in 1989 about energy questions. The main subjects studied are: qualities of different energy sources (coal, petroleum, natural gas, nuclear energy, renewable energies); perception in public opinion of nuclear industry; energy and environmental effects. 6 figs., 1 tab., 4 appendices

  3. 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

  4. 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.)

  5. The role of nuclear energy in the European Community

    International Nuclear Information System (INIS)

    Maniatopoulos, C.S.; Gmelin, W.; Schenkel, R.

    1991-01-01

    The overall objective of the energy policy of the European Community is to achieve a secure supply of energy at reasonable cost and low environmental impact. This overall objective is embedded in the steps taken by the European Community towards the Single European Market. This subject will be addressed briefly, as well as the developments in Eastern Europe including the European Energy Charter. With regard to nuclear energy in the community, facts and issues related to electricity production, the front end and back end of the nuclear fuel cycle and current environmental and safety issues will be presented. A common industrial strategy is required in the community including safety regulations, technical specifications and products for international markets. Concerning safeguards, the Commission is fully committed to the obligations from Chapter VII of the Treaty and to any relevant international agreements concluded by the Community. This is reflected in the close cooperation of the Commission with the IAEA and in the increase of resources, both in staff and budget, which the Commission has allocated to the Safeguards Directorate to cope with the increasing requirements, for example for bulk handling facilities. Based on a request from the European Parliament, the Commission has issued in 1989 a first report on the operation of Euratom Safeguards. The Commission services are currently preparing the second report of this type. Finally, some remarks with regard to the future of nuclear energy and challenges of safeguards in the Community will be made

  6. 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)

  7. 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)

  8. Sustainable markets for sustainable energy

    Energy Technology Data Exchange (ETDEWEB)

    Millan, J.; Smyser, C.

    1997-12-01

    The author discusses how the Inter-American Development Bank (IDB) is involved in sustainable energy development. It presently has 50 loans and grants for non conventional renewable energy projects and ten grants for efficiency programs for $600 and $17 million respectively, representing 100 MW of power. The IDB is concerned with how to create a sustainable market for sustainable energy projects. The IDB is trying to work with government, private sector, NGOs, trading allies, credit sources, and regulators to find proper roles for such projects. He discusses how the IDB is working to expand its vision and objectives in renewable energy projects in Central and South America.

  9. Russia's and the European union's gas interdependence. What balance between the market and geopolitics

    International Nuclear Information System (INIS)

    Finon, D.

    2006-01-01

    The purpose of this paper is to review the interdependence relation-ship between Russia and the European Union in the area of gas, by distinguishing the Russian seller's power risk from the issue of short term security, which are often mistaken one for the other The goal is to measure the economic risk associated with the seller's dominant position in the European market to appreciate the relevance of responses that can be made by European countries or the European Union. Firstly, the basically different nature of Russia and of the European Union is described, as well as the role played by its energy resources in the assertion of Russia's political power Secondly there is an analysis of the Russian seller's elements of dependence on the European market, before reviewing, thirdly, the risk of exercising Gazprom's market power in Europe. In closing is a review of the relevance of possible actions by the European Union and member countries to reduce that risk by facilitating the densification of the Pan-european Network, the establishment of entry points and market integration. (author)

  10. The players on the European gas market - 2008 edition

    International Nuclear Information System (INIS)

    Lecarpentier, Armelle

    2008-02-01

    In a context of growing dependence on extra-European sources, a growth potential in gas use for power generation and the acceleration of the liberalization process, the 2008 Edition of 'The Players on the European Gas Market' offers a unique detailed review of the positioning of players in both the upstream (production, reserves) and downstream (wholesale and retail supply) sectors of the gas chain. This 140-pages report, includes 55 tables and 29 figures, and presents an in-depth description of the European gas industry by country. The Survey 'The Players on the European Gas Market' provides: - The analysis of new upstream areas and production growth prospects, - Company rankings in terms of reserve and production volumes, - The complete overview of the whole European gas market (market characteristics, supply sources, consuming outlets, effective competition), - Strategies and key facts of the wholesale suppliers to Europe, - An in-depth review of national market structures, - The detailed positioning and analysis of national market power of the numerous companies involved in gas supply

  11. 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

  12. The renewable energy market in Australia

    International Nuclear Information System (INIS)

    2002-01-01

    Australia is committed to an 8 per cent reduction in its emissions of greenhouse gases above 1990 levels as a result of the Kyoto Protocol for the period 2008-2012. At present, the emissions stand at 17.4 per cent above 1990 levels. Total electrical power in Australia resulting from renewable energy is in the order of 10.5 per cent. A mandatory renewable energy target of 9500 gigawatt hour (GWh) of extra renewable energy is to be produced annually by 2010, under the Renewable Energy (Electricity) Act. An emissions trading system has been implemented, involving one renewable energy certificate (REC) created for each megawatt hour of renewable energy generated. A significant expansion of the demand for renewable energy is expected in Australia over the next ten years, according to the Australian Greenhouse Office. Increased opportunities for local and international firms operating in the field of renewable energy are being created by the Australian government through initiatives such as the Renewable Energy Commercialization Program, and the Renewable Remote Power Generation Program. Solar, biomass, and wind power are comprised in the wealth of renewable energy resources in Australia. The market remains largely undeveloped. Firms from the United States and the European Union are the leading exporters of renewable energy technology to Australia. Public utilities and independent power producers having entered the deregulated electricity market are the consumers of renewable energy technology and services. A country with minimal duties in most cases, Australia has much in common with Canada, including similar regulatory and legal systems. Australia applies a 10 per cent goods and services tax, which would apply to Canadian exports. It was advised to consult the Australian Customs Service for additional information concerning duties that might be applicable to the renewable energy industry. 28 refs., 3 tabs

  13. Essays on liberalized energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Nese, Gjermund

    2003-07-01

    This thesis consists of four essays that aim at contributing to the understanding of some of the new challenges associated by the liberalized energy markets. More specifically the essays consider investments in energy generation projects; international trade of Green Certificates, market power in a Green Certificate system, and finally the behaviour of public firms in liberalized markets. Essay 1 considers energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price uncertainty on the choice of technology and the timing of the investment. It is shown that when the choice of technology is irreversible, it may be optimal to postpone the investment even if it would otherwise be optimal to invest in one or both of the plant types. We provide a numerical example based on cost estimates of two different power plant types. Essay 2 presents an analytical equilibrium model for simultaneously functioning international markets for electricity and Green Certificates is formulated. The percentage requirement is perceived as the policy instrument affecting the level of green electricity in end-use consumption. In none of the cases considered does an increase in the country's percentage requirement necessarily result in an increase in the generation of green electricity in that country, but it may have a positive effect on the trading partner's generation of green electricity. Further, under quite realistic assumptions, a country maximizes its generation of green electricity by setting the percentage requirement to zero. In essay 3 an analytic equilibrium model for a simultaneously functioning electricity market and a market for Green Certificates is formulated. The major focus of the paper is the effect of market power in a Green Certificate system. One of the main results is that the certificate system faced with market power

  14. Essays on liberalized energy markets

    International Nuclear Information System (INIS)

    Nese, Gjermund

    2003-01-01

    This thesis consists of four essays that aim at contributing to the understanding of some of the new challenges associated by the liberalized energy markets. More specifically the essays consider investments in energy generation projects; international trade of Green Certificates, market power in a Green Certificate system, and finally the behaviour of public firms in liberalized markets. Essay 1 considers energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price uncertainty on the choice of technology and the timing of the investment. It is shown that when the choice of technology is irreversible, it may be optimal to postpone the investment even if it would otherwise be optimal to invest in one or both of the plant types. We provide a numerical example based on cost estimates of two different power plant types. Essay 2 presents an analytical equilibrium model for simultaneously functioning international markets for electricity and Green Certificates is formulated. The percentage requirement is perceived as the policy instrument affecting the level of green electricity in end-use consumption. In none of the cases considered does an increase in the country's percentage requirement necessarily result in an increase in the generation of green electricity in that country, but it may have a positive effect on the trading partner's generation of green electricity. Further, under quite realistic assumptions, a country maximizes its generation of green electricity by setting the percentage requirement to zero. In essay 3 an analytic equilibrium model for a simultaneously functioning electricity market and a market for Green Certificates is formulated. The major focus of the paper is the effect of market power in a Green Certificate system. One of the main results is that the certificate system faced with market power may

  15. European Climate - Energy Security Nexus. A model based scenario analysis

    International Nuclear Information System (INIS)

    Criqui, Patrick; Mima, Silvana

    2011-01-01

    In this research, we have provided an overview of the climate-security nexus in the European sector through a model based scenario analysis with POLES model. The analysis underline that under stringent climate policies, Europe take advantage of a double dividend in its capacity to develop a new cleaner energy model and in lower vulnerability to potential shocks on the international energy markets. (authors)

  16. 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

  17. The beef market in the European Union

    DEFF Research Database (Denmark)

    Nielsen, Niels Asger

    small with the largest slaughtering company slaughtering only 3% of the total. 9. Relations between industry (slaughterhouses) and farmers tend to be much looser in the beef market than it is in other agricultural markets, eg the milk market. Cattle markets are still quite important although the share......'s share of total meat consumption 3. As a consequence of the consumers' demand for convenient shopping, butcher's share of total beef sales is rapidly decreasing in Europe. 4. Changes in meat consumption have traditionally been explained by relative price and per capita income, but these economic demand...... analyses can explain a rapidly decreasing share of the variation in beef consumption. 5. Studies show that beef consumption tends to increase with age; the heavy users are found among middle-aged men. Beef consumption also increases with income and social class. 6. The most important user-oriented quality...

  18. Carbon auctions, energy markets and market power: An experimental analysis

    International Nuclear Information System (INIS)

    Dormady, Noah C.

    2014-01-01

    This paper provides an experimental analysis of a simultaneous energy-emissions market under conditions of market power. The experimental design employs real-world institutional features; including stochastic demand, permit banking, inter-temporal (multi-round) dynamics, a tightening cap, and resale. The results suggest that dominant firms can utilize energy-emissions market linkages to simultaneously inflate the price of energy and suppress the price of emissions allowances. Whereas under prior market designs, regulators were concerned with dominant firms exercising their market power over the emissions market to exclude rivals and manipulate the permit market by hoarding permits; the results of this paper suggest that this strategy is less profitable to dominant firms in contemporary auction-based markets than strategic capacity withholding in the energy market and associated demand reduction in the emissions market. - Highlights: • Laboratory simulation of joint energy-emissions market. • Evaluates market power under collusion and real-world institutional features. • Dominant firms can exercise market power to inflate energy prices. • Dominant firms can exercise market power to suppress emissions prices. • Supply withholding is an implicit demand reduction in the emissions market

  19. Report of the European Energy Law Seminar 2010

    International Nuclear Information System (INIS)

    Beukenkamp, J.F.M.; Webbink, F.J.; Fenijn, A.W.C.; Klapwijk, C.L.

    2010-01-01

    The Annual European Energy Law Seminar was held on 12 and 13 April 2010 at the Grand Hotel Huis ter Duin in Noordwijk, the Netherlands. This article reports on the meeting. The presentations held on the first day addressed various aspects of the Third Energy Package such as the issues of unbundling and third party access, the establishment of a European network of regulators, the collaboration of regulators and the ongoing market integration. Day 2 addressed security of supply and climate protection and the required investments. An overview is also provided of recent developments in the EU competition legislation. [nl

  20. Market of dwelling improvement. The policies of energy mastery in existing dwellings in the European Union countries; Marche de l'amelioration de l'habitat. Les politiques de maitrise de l'energie dans l'habitat existant dans les pays de l'Union Europeenne

    Energy Technology Data Exchange (ETDEWEB)

    Le Fur, B.

    2003-09-01

    This document is an extended abstract of the study carried out by B. Le Fur about the energy mastery policies implemented by European Union countries for existing buildings: 1 - identification of the key factors of success; 2 - the two-steps methodology followed: identification of innovating policies and deeper investigation of these policies; 3 - common European policy of energy mastery in accommodations (improvement of the energy efficiency of buildings); 4 - measures already implemented in member countries (regulatory tools and financial incentives, public information, eco-taxes); 5 - precursor measures: programs of aid to renewable energies in Germany, energy certification in Denmark, regulations for existing buildings (UK and Germany), mobilization of professionals in Germany, marketing strategies of local authorities in the UK; 6 - locating of key factors of success. (J.S.)

  1. Renewable energy market overview 2000

    International Nuclear Information System (INIS)

    Mahoney, Nicholas

    2001-01-01

    The article discusses the findings of a recent survey on the renewable energy market carried out in 164 countries and across a wide range of sectors of industry. The survey found almost unanimous optimism regarding the growth of the renewable energy market over the coming year. Tables show (i) the survey sample (in terms of continents, database population and responses); (ii) subsidiaries and locations of parent companies; (iii) expectations of sales next year (by continent) and (iv) expectations of sales in the coming year by sector. Figures show (a) regional distribution of companies (by continent); (b) companies' activities and (c) index of expectations of sales, by continent. The survey is intended for inclusion in the World Directory of Renewable Energy Suppliers and Services

  2. Renewable energy market overview 2000

    Energy Technology Data Exchange (ETDEWEB)

    Mahoney, Nicholas

    2001-02-01

    The article discusses the findings of a recent survey on the renewable energy market carried out in 164 countries and across a wide range of sectors of industry. The survey found almost unanimous optimism regarding the growth of the renewable energy market over the coming year. Tables show (i) the survey sample (in terms of continents, database population and responses); (ii) subsidiaries and locations of parent companies; (iii) expectations of sales next year (by continent) and (iv) expectations of sales in the coming year by sector. Figures show (a) regional distribution of companies (by continent); (b) companies' activities and (c) index of expectations of sales, by continent. The survey is intended for inclusion in the World Directory of Renewable Energy Suppliers and Services.

  3. A new paradigm for the European energy policy?

    International Nuclear Information System (INIS)

    Veyrenc, Thomas

    2010-01-01

    As the European Union adopted in 2009 an organisational framework for the energy sector (the third energy package), the author analyses and discusses the progressive evolutions of the European energy policy during the last decades. He first addresses the process of liberalization of electricity and natural gas markets (or network industries) which has been launched by the European Commission from the middle of the 1990's and has been almost achieved. He comments the break created by the emergence of the climate challenge during the 2000's which had an impact on the objectives of the European energy policy, on the environmental policy and on competitiveness. The author then addresses the emergence of concerns related to the security of energy supplies (a coherence challenge for the European policy): definition of the concept of supply security, dilemma of security of supply, discussion of the content of the Lisbon Treaty as a remedy to coherence challenge). The author then discusses these evolutions in terms of new content and continuity, questions the emergence of a European federalism and the lack of great projects

  4. Pollution Under Environmental Regulation in Energy Markets

    CERN Document Server

    Gullì, Francesco

    2013-01-01

    Pollution Under Environmental Regulation in Energy Markets provides a study of environmental regulation when energy markets are imperfectly competitive. This theoretical treatment focuses on three relevant cases of energy markets. First, the residential space heating sector where hybrid regulation such as taxation and emissions trading together are possible. Second, the electricity market where transactions are organized in the form of multi-period auctions. Third, namely natural gas (input) and electricity (output) markets where there is combined imperfect competition in vertical related energy markets.   The development of free or low carbon technologies supported by energy policies, aiming at increasing security of supply, is also explored whilst considering competition policies that reduce market power in energy markets thus improving market efficiency. Pollution Under Environmental Regulation in Energy Markets discusses the key issues of whether imperfect competition can lessen the ability of environmen...

  5. Financing Trans-European Energy Infrastructures - Past, Present and Perspectives

    International Nuclear Information System (INIS)

    Hirschhausen, Christian von

    2011-01-01

    The transformation of the European energy system towards a low carbon industry requires substantial investment and financing. According to the Energy Infrastructure Package (EIP), around one trillion euros must be invested in the European energy system until 2020. Out of the euro 200 billion required investment for transmission networks, only half of the capital will be provided by markets. This leaves a financial gap of ca. euro 100 bn. and poses a question on the EU role in financing European energy infrastructures. This policy paper by Christian Von Hirschhausen focuses on the future financing of trans-European energy infrastructures. After providing an overview of the long-term infrastructure needs and of the various instruments that currently exist to finance these infrastructures, the author discusses various aspects related with the planning and financing of cross border energy infrastructures with the help of a case study: the North Sea Grid Project. On the basis of the North Sea example, he highlights the importance of adopting a regulatory approach balancing European and Member States' interests as well as of streamlining and expanding the EU financial support to sustainable energy infrastructures

  6. estec2007 - 3rd European solar thermal energy conference. Proceedings

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-12-14

    The sessions of the 'estec2007 - 3{sup rd} European Solar Thermal Energy Conference held in Freiburg, Germany have the following titles: The solar thermal sector at a turning point; Cooling and Process Heat, Country reports Europe; Standards and Certification; Country reports outside Europe; Awareness raising and marketing; Domestic hot water and space heating; Domestic hot water and space heating; Quality Assurance and Solar Thermal Energy Service Companies; Collectors and other key technical issues; Policy - Financial incentives; Country Reports; Marketing and Awareness Raising; Quality Assurance Measures/Monistoring; Standards and Certification; Collectors; Domestic Hot Water and Space Heating; Industrial Process Heat; Storage; Solar Cooling. (AKF)

  7. estec2007 - 3rd European solar thermal energy conference. Proceedings

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-12-14

    The sessions of the 'estec2007 - 3{sup rd} European Solar Thermal Energy Conference held in Freiburg, Germany have the following titles: The solar thermal sector at a turning point; Cooling and Process Heat, Country reports Europe; Standards and Certification; Country reports outside Europe; Awareness raising and marketing; Domestic hot water and space heating; Domestic hot water and space heating; Quality Assurance and Solar Thermal Energy Service Companies; Collectors and other key technical issues; Policy - Financial incentives; Country Reports; Marketing and Awareness Raising; Quality Assurance Measures/Monistoring; Standards and Certification; Collectors; Domestic Hot Water and Space Heating; Industrial Process Heat; Storage; Solar Cooling. (AKF)

  8. Opportunities for Pellet Trade - Towards a Single European Pellet Market

    International Nuclear Information System (INIS)

    Pigaht, Maurice; Janssen, Rainer; Rutz, Dominik; Boehm, Thorsten; Vasen, Norbert; Vegas, Laura; Karapanagiotis, Nicolas

    2006-01-01

    The potential for Pellets trade in Europe was researched and assessed. Such trade is of key importance for the development of a European pellet market of sufficient supply, demand, price and quality standards. Three target markets were taken as case studies for the trade assessment: Greece, Spain and Italy. All three markets stand to profit greatly from international trade. For these markets, pellet imports could supply the basis for the development of a domestic boiler market. At the same time, pellet exports would allow the planning of larger pellet production plants. Whilst these additional costs amount to some 10-20% of the Pellets price, they are financially acceptable, especially for new markets and 'peaks' in the demand/supply of established markets

  9. The market microstructure of the European Climate Exchange

    OpenAIRE

    Mizrach, Bruce; Otsubo, Yoichi

    2011-01-01

    This paper analyzes the market microstructure of the European Climate Exchange, the largest EU ETS trading venue. The ECX captures 2/3 of the screen traded market in EUA and more than 90% in CER. 2009 Trading volumes total ?22 billion and are growing, with EUA transactions doubling, and CER volume up 61%. Spreads range from ?0:02 to ?0:06 for EUA and from ?0:07 to ?0:18 for CER. Market impact estimates imply that an average trade will move the EUA market by 1.08 euro centimes and the CER mark...

  10. The biomass energy market in Finland

    International Nuclear Information System (INIS)

    2002-01-01

    In 2001, it was estimated that the Finnish biomass market was in excess of 235 million dollars. The development of renewable energy, with special emphasis on biomass, was supported by the development of an energy strategy by the government of Finland. The installed capacity of biomass in Finland in 2002 was 1400 megawatt electrical (MWe). Extensive use of combined heat and power (CHP) is made in Finland, and district heating (DH) systems using biomass are gaining in popularity. Wood-based biomass technologies, retrofits to fluidized bed combustion, and wood procurement technologies were identified as the best opportunities for Canadian companies interested in operating in Finland. A country with high standards, Finland seems to look favorably on new innovative solutions. Joint ventures with Finnish companies might be an excellent way for Canadian companies to gain a foothold in Finland and expand into the European Union, the Nordic countries, the Baltic, Russia and the Central and Eastern European markets. It was further noted that Finland is one of the leading exporters of biomass technology in the world. The document provided quick facts, examined opportunities, and looked at key players. 19 refs., 4 tabs

  11. Market in Germany. Renewable energy and energy conservation in the German construction industry

    International Nuclear Information System (INIS)

    2008-02-01

    This market survey for Germany is on the subject of renewable energy and energy efficient constructing and housing improvement. In order to meet sectoral or thematic information needs of Dutch exporting industries and investing companies, the EVD facilitates the realisation of up-to-date market surveys on promising markets in selected countries. The requested study is very relevant for the Dutch exporting industry, as the German building and construction market is of increasing importance to the Dutch building, installation and equipment building sector. Moreover the German market is a European innovator on renewable energy (RE) and energy efficient (EE) homes or even so-called 'passive' houses. The developments in the German market can guide the Dutch industry in the development of their export strategies. The main target groups for the market surveys are small- and medium-sized enterprises (SMEs) in the Netherlands. Interesting groups among these SMEs are those enterprises that start their business on a foreign market [nl

  12. Labour Market Institutions and Labour Market Performance in the European Union

    OpenAIRE

    Michal, Tvrdon

    2008-01-01

    The presented article deals with labour market institutions and labour market performance in the European Union. The first chapter is devoted to theoretical and methodological background of labour market performance. Theoretical literature has created a set of institutional aspects such as employment protection legislation, structure of wage bargaining, taxation of labour, active labour market policy, the system of unemployment and social benefits. All these aspects determine the institutiona...

  13. Market introduction of renewable energy technologies

    International Nuclear Information System (INIS)

    1997-01-01

    On 11 and 12 November 1997 the VDI Society for Energy Technology (VDI-GET) held a congress in Neuss on the ''Market introduction of renewable energy technologies'' The focal topics of the congress were as follows: market analyses for renewable energy technologies, the development of markets at home and abroad, and the framework conditions governing market introduction. Specifically it dealt with the market effects of national and international introduction measures, promotion programmes and their efficiency, the legal framework conditions governing market introduction, advanced and supplementary training, market-oriented research (e.g., for cost reduction), and improved marketing [de

  14. 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

  15. Renewable energies development: what contribution of the carbon market?

    International Nuclear Information System (INIS)

    Bordier, Cecile

    2008-12-01

    In the climate-energy package, the European Union has committed to achieve objectives differentiated by countries to reduce greenhouse gas emissions and developing renewable energies. Part of the emissions reduction must be achieved through a common mechanism to all Member States: the European CO 2 trading market (EU ETS) covers about 40% of emissions of gas European greenhouse from five major industrial sectors, including power generation. The development of renewable energy is the responsibility of each member state. To meet its commitments in terms of renewable energy, each Member State may adopt economic incentives: tendering, purchase prices or green certificates. This Climate Report describes two national policies with different instruments: aid mechanism by prices in France and definition of quantitative targets in the UK. The author attempts to evaluate these policies for the production of renewable electricity in terms of cost per ton of carbon avoided to compare with the price of carbon quotas in the EU ETS. The results show that the cost of national incentive policies for renewable energy per ton of CO 2 avoided varies significantly from one country to another, but in both cases higher than the quota price on the European market. It is difficult to draw definitive conclusions on economic effectiveness of different policy instruments. The first phase of the European exchange of CO 2 quotas market has induced a stress relatively low, weighing mainly on the electricity generation sector. The allocations to the electricity sector have been reduced from 2008 and quotas will be auctioned from 2013 within the limits of an overall ceiling will decrease year by year. This increase in stress on emissions should play a key role in the deployment of CO 2 emission reduction solutions in this sector, including the development of renewable energies. The incentive mechanisms at the national level could complement the impact of the European carbon market by accelerating

  16. THE EUROPEAN UNION’S QUEST FOR ENERGY POLICY: A GEO-ECONOMIC APPROACH

    Directory of Open Access Journals (Sweden)

    Alin Codoban

    2011-09-01

    Full Text Available The European Union’s external energy policy architecture is very important for further energy security and economic development. European normative power on its neighbours represents the most efficient way of integrating neighbouring energy markets, with the EU’s emerging internal market and, in perspective, through economic interdependence and complementarities, there are chances of creating an European geo-energy space. EU’s tools for shaping the geo-energy space are becoming more effective in an extended European economic area that would allow it to act as the main actor in a multilateral interconnected system of energy producer and transit countries. The result of the paper is materialized in a new paradigm for EU’s external energy policy, which can provide future security of supply through market institutions and an active economic diplomacy in the resource energy countries.

  17. Phase Two European Energy Policy Project. European energy and climate policy - Time for something new

    International Nuclear Information System (INIS)

    Helm, Dieter

    2014-01-01

    During 2014, European energy and climate change policy has moved centre stage. The annexation of Crimea and the destabilization of Eastern Ukraine have raised tensions with Russia to levels not seen since the Cold War. The EU has responded with an energy security plan, and sanctions. Developments elsewhere have further complicated matters. In the Middle East, the rapid advances of ISIS (now called the Islamic State), the internal conflicts in Libya, the war in Gaza, and the continuing negotiations with Iran on nuclear matters suggest that early optimism about the 'Arab Spring' was at best misplaced, and chronic instability has returned. In the US, the energy revolution continues to change the geopolitics of oil and gas, with the early skepticism about the scale of the changes and the shift towards North American energy independence giving way to recognition that the changes are permanent and profound - for both global energy markets and Europe. The full implications of the end of the commodity super-cycle are both profound for European energy policy and very poorly understood. Commodity prices have tumbled, with oil prices falling below $80 a barrel. On climate change, there is almost certainly not going to be a continuation of the Kyoto style international framework after the Paris conference in December 2015. Chinese emissions per head have now exceeded those of the Europeans, and it is at last being recognized that the climate change problem is one in which China, not the EU, is centre stage. China has announced that it does not intend to cap its carbon emissions until after 2030, by which time they may peak anyway - from a very much higher base after another decade and a half of increases. The Paris conference will see a series of 'pledges' and 'commitments' very much on the pattern of the Copenhagen Accord, not the credible, enforceable legally binding measures that had been proposed at the Durban Conference of the Parties in 2011

  18. Report on the green paper on energy. Four years of European initiatives

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2005-07-01

    In December 2000, the European Commission adopted a Green Paper on European Union energy policy. This brochure takes stock of the action undertaken in the following areas over the last four years:managing demand, diversifying internal energy sources,developing the internal energy market and the security of external supply. It presents: the Green Paper stakes, the progress made, the four political challenges, managing demand, diversifying European sources, the streamlined internal energy market, controlling external supply, future prospects for the Union, legislative developments and ten possibilities for economical energy use. (A.L.B.)

  19. Report on the green paper on energy. Four years of European initiatives

    International Nuclear Information System (INIS)

    2005-01-01

    In December 2000, the European Commission adopted a Green Paper on European Union energy policy. This brochure takes stock of the action undertaken in the following areas over the last four years:managing demand, diversifying internal energy sources,developing the internal energy market and the security of external supply. It presents: the Green Paper stakes, the progress made, the four political challenges, managing demand, diversifying European sources, the streamlined internal energy market, controlling external supply, future prospects for the Union, legislative developments and ten possibilities for economical energy use. (A.L.B.)

  20. Prospects for wind energy in the European Union by 2010

    International Nuclear Information System (INIS)

    Wagner, A.

    1999-01-01

    There is a broad consensus among member states and European institutions to increase the share of renewable energies considerably within the next decade. The Commission's White Paper ''Energy for the Future. Renewable Energy Sources'', presented in late 1997, set the target to double the total share of renewable energy from 6 to 12 per cent by 2010, with 40,000 MW wind energy. Experience with various national wind energy support schemes has shown that only strong political commitment and a reliable and favourable legal framework will allow wind energy to reach this target. Market development of wind energy in Germany, Denmark and Spain - comprising 85 per cent of total installed capacity in Europe at the end of 1997 - is a good indication of what is needed for the future of wind energy in Europe: Fair access to the electricity network with fair prices for wind power. This is the key to continue the success story of wind energy in the 21 st century. Reference is made to the Directive on the Internal Electricity Market which explicitly allows the introduction of national and European support schemes for renewable energies. (author)

  1. Report 3 energy market barometer - Winter 2014

    International Nuclear Information System (INIS)

    Schleich, Joachim; Cateura, Olivier; Faure, Corinne; Jacob, Jojo; Javaudin, Laurent; Molecke, Greg; Olsthoorn, Mark; Pinkse, Jonatan; Shomali, Azadeh; Vernay, Anne-Lorene

    2015-01-01

    This Winter 2014 edition of the Grenoble Ecole de Management (GEM) Energy Market Barometer documents the French energy experts' estimates of the future electricity mix in France and in the European Union, their assessment of the regulatory conditions in France for investments in energy technologies, and their expectations about the development of energy and CO_2-certificate prices. Key findings: - Fewer than one in four experts believes that the target to decrease nuclear power's share of the French power mix to 50% by 2025 will be met; - The share of renewable energy sources (other than hydropower) in the French power mix is expected to almost quadruple by 2030; - Renewable energy sources (other than hydropower) are believed to become the dominating source of electricity in the EU in 2030; - About two thirds of the experts think that current regulatory conditions in France are particularly accommodating for investments in energy efficiency and renewable energies; - Experts are divided over how supportive current and future regulatory conditions are for encouraging investments in nuclear power in France; - Electricity prices are expected to remain stable over the next six months but to increase over the next 5 years; - Oil prices are expected to continue to decrease over the next six month, but increase over the next 5 years; - CO_2 certificate prices are expected to rise only in the medium to longer term but levels remain rather low

  2. Energy costs form European wind farms

    Energy Technology Data Exchange (ETDEWEB)

    Milborrow, D [Windpower Monthly, Knebel (Denmark)

    1996-12-31

    Energy generation costs from European wind farms span a very wide range. Reasons for these variations, include differences in capital and operating costs, wind speeds and differing legislative and regulatory frameworks. This article compares costs, wind speeds and discount rates for British and German windfarms and sets these alongside data from elsewhere in the European Union. In this way it is possible to determine the reasons for differences in energy generation costs. (author)

  3. Energy costs form European wind farms

    Energy Technology Data Exchange (ETDEWEB)

    Milborrow, D. [Windpower Monthly, Knebel (Denmark)

    1995-12-31

    Energy generation costs from European wind farms span a very wide range. Reasons for these variations, include differences in capital and operating costs, wind speeds and differing legislative and regulatory frameworks. This article compares costs, wind speeds and discount rates for British and German windfarms and sets these alongside data from elsewhere in the European Union. In this way it is possible to determine the reasons for differences in energy generation costs. (author)

  4. Energy costs form European wind farms

    International Nuclear Information System (INIS)

    Milborrow, D.

    1995-01-01

    Energy generation costs from European wind farms span a very wide range. Reasons for these variations, include differences in capital and operating costs, wind speeds and differing legislative and regulatory frameworks. This article compares costs, wind speeds and discount rates for British and German windfarms and sets these alongside data from elsewhere in the European Union. In this way it is possible to determine the reasons for differences in energy generation costs. (author)

  5. 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?.

  6. European health systems and the internal market: reshaping ideology?

    Science.gov (United States)

    da Costa Leite Borges, Danielle

    2011-12-01

    Departing from theories of distributive justice and their relation with the distribution of health care within society, especially egalitarianism and libertarianism, this paper aims at demonstrating that the approach taken by the European Court of Justice regarding the application of the Internal Market principles (or the market freedoms) to the field of health care services has introduced new values which are more concerned with a libertarian view of health care. Moreover, the paper also addresses the question of how these new values introduced by the Court may affect common principles of European health systems, such as equity and accessibility.

  7. The Scale and Geography of Collusion in the European Market

    DEFF Research Database (Denmark)

    Buch-Hansen, Hubert; Levallois, Clement

    2015-01-01

    Europe has a long history of cartels, but the changes in the scale and geography of collusion in the European market from the post-war decades until the present have not been systematically investigated. Using network analysis methods and an original dataset based on decisions in EU cartel cases......, this paper maps the developments in detected collusion in the European market from 1958 to 2008 and tentatively explains these developments. It appears that collusive activities increased during the 1960s and after the mid-1980s and that a long decline in the scale of collusion began in the mid-1990s...

  8. Price jumps on European stock markets

    Czech Academy of Sciences Publication Activity Database

    Hanousek, Jan; Kočenda, Evžen; Novotný, Jan

    2014-01-01

    Roč. 14, č. 1 (2014), s. 10-22 ISSN 2214-8450 R&D Projects: GA ČR(CZ) GAP403/11/0020; GA ČR(CZ) GBP402/12/G097 Grant - others:UK(CZ) UNCE 204005/2012 Institutional support: PRVOUK-P23 Keywords : stock markets * price jump indicators * non-parametric testing Subject RIV: AH - Economics

  9. Residential/commercial market for energy technologies

    Energy Technology Data Exchange (ETDEWEB)

    Glesk, M M

    1979-08-01

    The residential/commercial market sector, particularly as it relates to energy technologies, is described. Buildings account for about 25% of the total energy consumed in the US. Market response to energy technologies is influenced by several considerations. Some considerations discussed are: industry characteristics; market sectors; energy-consumption characeristics; industry forecasts; and market influences. Market acceptance may be slow or nonexistent, the technology may have little impact on energy consumption, and redesign or modification may be necessary to overcome belatedly perceived market barriers. 7 figures, 20 tables.

  10. Model of Nordic energy market

    International Nuclear Information System (INIS)

    Gjelsvik, E.; Johnsen, T.; Mysen, H.T.

    1992-01-01

    Simulation results are given of the consumption of electricity and oil in Denmark, Norway and Sweden based on the demand section of a Nordic energy market model which is in the process of being developed in Oslo under the auspices of the Nordic Council of Ministers. The model incorporates supply, and trade between countries so that it can be analyzed how trading can contribute to goals within energy and environmental policies and to cost effective activities aimed at reducing pollution. The article deals in some detail with the subject of how taxation on carbon dioxide emission can influence pollution abatement and with energy consumption development within individual sectors in individual Northern countries. The model of energy demand is described with emphasis on the individual sectors of industry, transport, service and private households. Simulation results giving the effects of energy consumption and increased taxation on fossil fuels are given. On this background the consequences of the adaption of power plants is discussed and a sketch is given of a Nordic electric power market incorporating trading. (AB) (15 refs.)

  11. United States natural gas markets, contracts and risks: What lessons for the European Union and Asia-Pacific natural gas markets?

    International Nuclear Information System (INIS)

    Talus, Kim

    2014-01-01

    The article examines the natural gas markets of the United States, the European Union and the Asia-Pacific region and their regulation and contractual structures. The article's main focus is on the United States natural gas markets. The European Union and Asia-Pacific markets are compared to this more developed market. By comparing the physical and ideological characteristics of, and differences between, the three main international gas markets, the article exposes the limits of regulatory and contractual transplants in this area of law and policy. Each of these markets is unique, which limits the opportunities for modelling certain market institutions on the basis of the more developed markets in the United States. This applies for both the EU and the Asia-Pacific region. - Highlights: • Differences in the physical markets impact regulation. • Regulatory transplants have risks. • The approach in energy policy should be based on “Law-in-Context” approach

  12. Efficiency of European emissions markets: Lessons and implications

    International Nuclear Information System (INIS)

    Krishnamurti, Chandrasekhar; Hoque, Ariful

    2011-01-01

    While prior studies have shown that emission rights and futures contracts on emission rights are efficiently priced, there are no studies on the efficiency of the options market. Therefore, this study fills the gap. We examine empirical evidence regarding the efficiency of the options market for emissions rights in Europe. We employ the put-call parity approach to test the efficiency of options on emission rights traded in the European market. This implies that firms can trade options on emission rights in addition to other existing strategies in order to manage their greenhouse gas emissions. - Highlights: → Efficiency of the European options market for emissions. → Design implications for the development of emissions trading schemes in other countries. → Governance issues pertaining to emissions trading.

  13. ASPECTS REGARDING THE ORGANIC FOOD MARKET IN SEVERAL EUROPEAN COUNTRIES

    Directory of Open Access Journals (Sweden)

    MANUELA-DORA ORBOI

    2008-05-01

    Full Text Available The global organic market is increasing constantly, organic sales reaching over USD 5 billion per year. Organic Monitor estimates that international sales amounted to about USD 38.6 billion in 2006, more than the double of USD 18 billion in 2000. The organic demand is concentrated in North America and Europe, these two regions comprising 97% of the global revenues. The European organic food and beverage market is the largest and most complex in the world, evaluated at USD 20 billion in 2006. Many European countries offer grants to organic farms to support organic production. This production-oriented strategy will have guaranteed success if the market structures and the marketing channels will be able to face the rapidly increasing demand and if the sellers adapt their products, sales channels and prices to the consumers’ demand.

  14. Hybrid Pricing in a Coupled European Power Market with More Wind Power

    OpenAIRE

    Bjørndal, Endre; Bjørndal, Mette; Cai, Hong; Panos, Evangelos

    2015-01-01

    In the European market, the promotion of wind power leads to more network congestion. Zonal pricing (market coupling), which does not take the physical characteristics of transmission into account, is the most commonly used method to relieve congestion in Europe. Zonal pricing fails to provide adequate locational price signals regarding the energy resource scarcity and thus creates a large amount of unscheduled cross-border flows originating from wind-generated power, making the interconne...

  15. A complementarity model for the European natural gas market

    International Nuclear Information System (INIS)

    Egging, Ruud; Gabriel, Steven A.; Holz, Franziska; Zhuang, Jifang

    2008-01-01

    In this paper, we present a detailed and comprehensive complementarity model for computing market equilibrium values in the European natural gas system. Market players include producers and their marketing arms which we call 'traders', pipeline and storage operators, marketers, LNG liquefiers, regasifiers, tankers, and three end-use consumption sectors. The economic behavior of producers, traders, pipeline and storage operators, liquefiers and regasifiers is modeled via optimization problems whose Karush-Kuhn-Tucker (KKT) optimality conditions in combination with market-clearing conditions form the complementarity system. The LNG tankers, marketers and consumption sectors are modeled implicitly via appropriate cost functions, aggregate demand curves, and ex post calculations, respectively. The model is run on several case studies that highlight its capabilities, including a simulation of a disruption of Russian supplies via Ukraine

  16. Information report made on behalf of the commission of economic affairs and national development and of the energy study group about the proceedings of the colloquium ''the European energy market: stakes and consequences of the opening'' organized by the French Senate on December 12, 2001; Rapport d'information fait au nom de la commission des Affaires Economiques et du Plan et du groupe d'etude de l'Energie sur les actes du colloque ''le marche europeen de l'energie: enjeux et consequences de l'ouverture'' organise par le Senat le 12 decembre 2001

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2002-07-01

    This report summarizes the debates that took place during this colloquium about the future unique and opened European energy market: 1 - a unique energy market in 2005: a voluntaristic perspective between a challenge and an imperative; 2 - the risks and opportunities of an opened market; 3 - the strategic and political choices for a sustainable regulated European market; 4 - which decisions for France? (J.S.)

  17. Capturing Talent: Generation Y and European Labor Markets

    OpenAIRE

    GAYLE ALLARD; Cristina Simón; RAQUEL MARTIN

    2007-01-01

    This study explores the challenge of capturing talent from both the political and the management level in Western Europe. It begins by identifying the special characteristics of Generation Y: those born since 1980 and recently joining national labor forces. It then evaluates the rigidity of labor markets in the European countries, dividing them into most and least regulated and exploring some of the labor-market characteristics that accompany those extremes. Finally, it identifies the employm...

  18. 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)

  19. Patterns and Regularities in the European Marketing Academic Community

    DEFF Research Database (Denmark)

    Krystallis Krontalis, Athanasios; Ormrod, Robert P.; Christensen, Katrine

    2011-01-01

    Recent years have seen a growing interest in the nature of scientific collaboration, as researchers have become interested in how knowledge is generated in research communities. The aim of the current paper is to provide insights into the structure of the European Marketing Academy (EMAC...... partners is socio-cultural and geographical) proximity rather than marketing sub-discipline, pointing towards a very systematic tendency for EMAC members to be organised around institutions in the same or culturally related countries....

  20. 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)

  1. Bundling and mergers in energy markets

    International Nuclear Information System (INIS)

    Granier, Laurent; Podesta, Marion

    2010-01-01

    Does bundling trigger mergers in energy industries? We observe mergers between firms belonging to various energy markets, for instance between gas and electricity providers. These mergers enable firms to bundle. We consider two horizontally differentiated markets. In this framework, we show that bundling strategies in energy markets create incentives to form multi-market firms in order to supply bi-energy packages. Moreover, we find that this type of merger is detrimental to social welfare. (author)

  2. Energy and commodities market; Energie- und Rohstoffmaerkte

    Energy Technology Data Exchange (ETDEWEB)

    Bokermann, Marcus; Prass, Markus [Vattenfall Markets, Berlin (Germany)

    2015-07-01

    The electricity markets in Central and Western Europe and in the nordic countries have further shown weak in 2014 with falling prices. The key factors were the declining quotations for coal and natural gas and the warm weather. Another driver was the growth of renewable energy. In the power markets conditions remained mostly an oversupply. The upward trending prices on the CO{sub 2} emissions market were not formative enough to turn the market sentiment. They only caused for volatility during the year. [German] Die Strommaerkte in Mittel- und Westeuropa sowie in den nordischen Laendern haben sich auch im Jahr 2014 weiterhin schwach bei fallenden Preisen gezeigt. Die wesentlichen Einflussfaktoren waren die sinkenden Notierungen fuer Steinkohle und Erdgas sowie das warme Wetter. Ein weiterer Treiber war das Wachstum der erneuerbaren Energien. Auf den Strommaerkten herrschte weiterhin ueberwiegend ein Ueberangebot. Die aufwaerts tendierenden Preise auf dem CO{sub 2}-Emissionsmarkt waren nicht praegend genug, um die Marktstimmung zu drehen. Sie sorgten lediglich fuer Volatilitaet im Jahresverlauf.

  3. European airlines enter the biofuels market. Business Project Report

    Energy Technology Data Exchange (ETDEWEB)

    Van den Heuvel, E.

    2011-06-15

    Biofuels might offer opportunities for achieving improved balance of power to the European airlines in their market environment. The aviation sector in Europe is a high competitive market. It faces high rivalry and increasing fuel costs due to rising oil prices. Moreover, from 2012 the sector will be subject to stringent rules with respect to maximum allowed carbon emissions. Investigating the competitive forces in the aviation sector and executing a strategic group analysis maps the competitors and the major players in the supply chain and the options they have for using alternative fuels for low carbon performance. Both the market and non-market strategies of several European airlines have been studied. It appears that airlines are aiming at first mover advantage by moving upstream in the biofuel value chain. They search for collaboration with other stakeholders to change government regulation to their benefit and influence public opinion and research agendas. Airlines are late entrants in the biofuels market. This research has shown that biofuels can improve the market power balance for European airlines. Biofuels are key to improve the carbon performance of airlines. However, this implies that airlines take position at the resource side of the value chain for biojetfuels. This has the advantage of controlling the security of supply and managing biofuels production complying to ruling sustainability criteria.

  4. Renewable Energy in European Regions

    NARCIS (Netherlands)

    Krozer, Yoram

    2012-01-01

    The regional dynamics of energy innovation, in particular the shift from fossil fuels to renewable energy in the EU, is discussed within the framework of neo-Schumpeterian theory. The EU’s 4.2% average annual growth in renewable energy production in the last decade has been accompanied by diverging

  5. Northeast Solar Energy Market Coalition (NESEMC)

    Energy Technology Data Exchange (ETDEWEB)

    Rabago, Karl R. [Pace Energy and Climate Center Pace University School of Law

    2018-03-31

    The Northeast Solar Energy Market Coalition (NESEMC) brought together solar energy business associations and other stakeholders in the Northeast to harmonize regional solar energy policy and advance the solar energy market. The Coalition was managed by the Pace Energy and Climate Center, a project of the Pace University Elisabeth Haub School of Law. The NESEMC was funded by the U.S. Department of Energy SunShot Initiative as a cooperative agreement through 2017 as part of Solar Market Pathways.

  6. EUROPEAN ENERGY INTERCONNECTION EFFECTS ON THE ROMANIAN ECONOMY

    Directory of Open Access Journals (Sweden)

    Ionescu Mihaela

    2014-07-01

    Full Text Available In this paper the author wants to exemplify the extent to which economic growth in Romania is influenced by the current power system infrastructure investments in Europe. Electricity transmission infrastructure in Romania is at a turning point. The high level of security of supply, delivery efficiency in a competitive internal market are dependent on significant investment, both within the country and across borders. Since the economic crisis makes investment financing is increasingly difficult, it is necessary that they be targeted as well. The European Union has initiated the “Connecting Europe” through which investments are allocated to European energy network interconnection of energy. The action plan for this strategy will put a greater emphasis on investments that require hundreds of billions of euro in new technologies, infrastructure, improve energy intensity, low carbon energy technologies. Romania's energy challenge will depend on the new interconnection modern and smart, both within the country and other European countries, energy saving practices and technologies. This challenge is particularly important as Romania has recovered severe gaps in the level of economic performance compared to developed countries. Such investment will have a significant impact on transmission costs, especially electricity, while network tariffs will rise slightly. Some costs will be higher due to support programs in renewable energy nationwide.Measures are more economically sustainable to maintain or even reinforce the electricity market, which system can be flexible in order to address any issues of adequacy. These measures include investments in border infrastructure (the higher the network, so it is easier to evenly distribute energy from renewable sources, to measure demand response and energy storage solutions.An integrated European infrastructure will ensure economic growth in countries interconnected and thus Romania. Huge energy potential of

  7. The European Community programmes in the sector of wind energy

    International Nuclear Information System (INIS)

    Diamantaras, K.; Ferrero, G.L.

    1992-01-01

    The wind technology market has known a considerable evolution over the last decade. From the early eighties - when there were only a few kilowatts of the research prototype wind turbines installed - the total installed capacity within the European Community has reached nowadays more than 765 MW in commercial machines. This expansion has been brought about with the aid of important R and D energy technology programmes run by national governments, and by the Commission of European Communities with its research, development, demonstration and market development programmes, such as the JOULE, demonstration and THERMIE programmes. This paper presents the activities of the Community demonstration and THERMIE programmes in the wind energy sector from 1983 to 1992. Reference is also made to the Community programmes JOULE II and ALTENER. (au)

  8. Market integration and market structure in the European soft drinks industry: always Coca-Cola?

    OpenAIRE

    Matraves, Catherine

    1999-01-01

    This paper focuses on the question of European integration, considering whether the geographic level at which competition takes place differs across the two major segments of the soft drinks industry: carbonated soft drinks and mineral water. Our evidence shows firms are competing at the European level in both segments. Interestingly, the European market is being integrated through corporate strategy, defined as increased multinationality, rather than increased trade flows. To interpret these...

  9. Swedish industrial and energy supply measures in a European system perspective

    OpenAIRE

    Trygg, Louise

    2006-01-01

    A common electricity market in Europe will in all probability lead to a levelling out of the electricity price, which implies that Swedish consumers will face higher electricity prices with a European structure. This new market situation will force industry and energy suppliers to take new essential measures as actors in a deregulated European electricity market. In this thesis it is shown how over 30 Swedish small and medium-sized industries can reduce their use of electricity by about 50%. ...

  10. Vision document Energy Market Concentrations

    International Nuclear Information System (INIS)

    De Maa, J.; Van Gemert, M.; Giesbertz, P.; Vermeulen, M.; Beusmans, P.; Te Velthuis, M.; Drahos, M.

    2006-11-01

    June 2006 the second consultation document of the Netherlands Competition Authority (NMa) on the title subject (the first was in 2002) was published. The purpose of the consultation is to involve all the relevant and interested parties in the development of the energy market in the Netherlands and to consult those parties on studies that have been carried out by the NMa so far: (1) defining (possible) relevant markets in the electricity sector, and (2) the vision and opinion of the NMa with respect to mergers and take-overs. Also, the consultation document is a contribution to the response of the letter from the Dutch Minister of Economic Affairs of May 2005 in which the NMa was requested to give an overview of the preconditions with regard to competition and it's legal aspects. In this vision document all the relevant parties and stakeholders are informed about the development of energy markets in the Netherlands and abroad. Also an overview is given of the reactions from many stakeholders, involved and interested parties. [nl

  11. Consultation document Energy Market Concentrations

    International Nuclear Information System (INIS)

    De Maa, J.; Van Gemert, M.; Karel, A.; La Bastide, G.; Giesbertz, P.; Buijs, F.; Vermeulen, M.; Beusmans, P.

    2006-06-01

    This the second consultation document of the Netherlands Competition Authority (NMa) on the title subject (the first was in 2002). The purpose of the consultation is to involve all the relevant and interested parties in the development of the energy market in the Netherlands and to consult those parties on studies that have been carried out by the NMa so far: (1) defining (possible) relevant markets in the electricity sector, and (2) the vision and opinion of the NMa with respect to mergers and take-overs. Also, the consultation document is a contribution to the response of the letter from the Dutch Minister of Economic Affairs of May 2005 in which the NMa was requested to give an overview of the preconditions with regard to competition and it's legal aspects [nl

  12. Risk-Return Trade-Off for European Stock Markets

    DEFF Research Database (Denmark)

    Aslanidis, Nektarios; Christiansen, Charlotte; Savva, Christos S.

    This paper adopts dynamic factor models with macro-finance predictors to revisit the intertemporal risk-return relation in five large European stock markets. We identify country specific, Euro area, and global factors to determine the conditional moments of returns considering the role of higher...

  13. Foreign news and spillovers in emerging European stock markets

    Czech Academy of Sciences Publication Activity Database

    Hanousek, Jan; Kočenda, E.

    2011-01-01

    Roč. 19, č. 1 (2011), s. 170-188 ISSN 0965-7576 R&D Projects: GA ČR(CZ) GAP403/11/0020; GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : emerging European stock market s * foreign news * intraday data Subject RIV: AH - Economics Impact factor: 0.631, year: 2011

  14. Foreign news and spillovers in emerging European stock markets

    Czech Academy of Sciences Publication Activity Database

    Hanousek, J.; Kočenda, Evžen

    2011-01-01

    Roč. 19, č. 1 (2011), s. 170-188 ISSN 0965-7576 Institutional research plan: CEZ:AV0Z70850503 Keywords : emerging European stock market s * foreign news * intraday data Subject RIV: AH - Economics Impact factor: 0.631, year: 2011

  15. Labour Market Effects of Parental Leave: A European Perspective

    NARCIS (Netherlands)

    Akgündüz, Y.E.; Plantenga, J.

    2011-01-01

    We investigate the aggregate-level effects of parental leave legislation on various labour market outcomes of women in 16 European countries for the period since 1970. The paper updates and extends previous findings in the literature. Results show increases in participation rates that diminish with

  16. Gas transportation tariffs in the european union market

    International Nuclear Information System (INIS)

    Bianchi, A.

    2001-01-01

    In a liberalised market, it is an indubitable competitive advantage for a firm to accede at the gas grid with a low cost. The comparison among gas transportation tariffs of 18 European gas transportation companies for a big industrial consumer, shows that Italy is in the medium-high position of the ranking [it

  17. Marketing approaches at European level – The case of Southern-European countries

    Directory of Open Access Journals (Sweden)

    Bianca TESCAŞIU

    2016-07-01

    Full Text Available The specialization of Marketing refers not only on specific focus on some domains, but, also, to its adaptation on regional issues. During the globalization process, marketers adapted their activity to new trends, such as: standardization, integrated distribution, production transfer, comparative advantage, etc. The common aspects of some regional markets determined the marketers to approach differently some homogeneous regions in the World economy. In this sense, the article intends to establish the main differences and the common aspects of a very important area in the European economy – The South East of Europe.

  18. Investing in European market real property through reits

    Science.gov (United States)

    Adamuscin, A.

    2010-03-01

    For institutional and private investors, investing in real estate represents an attractive form of the consignment of their money. Real estate provides a regular source of income in the form of the rent from or interest on the credit provided. At the same time, real estate is a good investment instrument, because it provides diversified contributions and security against inflation for investors. In their efforts to diversify risk, investors are expressing growing interest in investing in the whole European Union. The success of Real Estate Investment Trusts (REITs) in the U.S. also opened the door for investing in this market for small investors, which is the reason for the development of this type of investment company in the European arena. One problem concerning the development of European real estate investment funds is the unsolved issue of the harmonization of the legislation and regulatory safety measures, which would enable the creation of a common market for new investment products in Europe.

  19. Essays on market design and strategic behaviour in energy markets

    International Nuclear Information System (INIS)

    Lorenczik, Stefan

    2017-01-01

    The thesis at hand consists of four essays which are divided into two parts. In the first part, consisting of the first two essays, market design issues in electricity markets are discussed. More precisely, it deals with concerns regarding security of supply: First, the concerns regarding the availability of sufficient flexibility to cope with intermittent renewable energy electricity generation. And second, the consequences of insufficient investments signals in energy only markets in interconnected electricity markets. Part two deals with strategic behaviour in spatial natural resource markets. Strategic behaviour and the exertion of market power have always been a matter of concern in energy markets, especially in natural resource markets. The exertion of market power can result in deadweight losses - regulatory bodies try to address this by market regulations aiming for a welfare maximising market outcome. The first problem is to detect collusive behaviour as available data is frequently limited. The second question is how regulatory decisions may influence the market outcome. Both topics are investigated by using the example of the international metallurgical coal market.

  20. Essays on market design and strategic behaviour in energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Lorenczik, Stefan

    2017-11-13

    The thesis at hand consists of four essays which are divided into two parts. In the first part, consisting of the first two essays, market design issues in electricity markets are discussed. More precisely, it deals with concerns regarding security of supply: First, the concerns regarding the availability of sufficient flexibility to cope with intermittent renewable energy electricity generation. And second, the consequences of insufficient investments signals in energy only markets in interconnected electricity markets. Part two deals with strategic behaviour in spatial natural resource markets. Strategic behaviour and the exertion of market power have always been a matter of concern in energy markets, especially in natural resource markets. The exertion of market power can result in deadweight losses - regulatory bodies try to address this by market regulations aiming for a welfare maximising market outcome. The first problem is to detect collusive behaviour as available data is frequently limited. The second question is how regulatory decisions may influence the market outcome. Both topics are investigated by using the example of the international metallurgical coal market.

  1. 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.

  2. Some THINKing on European energy policy

    OpenAIRE

    GLACHANT, Jean-Michel; MEEUS, Leonardo; RUESTER, Sophia

    2013-01-01

    QM-02-13-166-EN-C QM-02-13-166-EN-N Energy regulation and policy currently belong to the most important and developing areas in the European Union. THINK, the Florence School of Regulation’s think tank was running from June 2010 to May 2013. THINK advised the European Commission (DG Energy) on Energy Policy and presented policy options each semester. This booklet gives an overview of the THINK output published in the second half of the project and focuses on 6 topics: How to Refurbish A...

  3. Biomass energy: progress in the European Union

    Energy Technology Data Exchange (ETDEWEB)

    Coombs, J. [CPL Scientific Limited, Newbury (United Kingdom)

    1996-05-01

    A brief overview of the progress in the use of biomass energy in the European Union is presented. Wood fuel, support for renewable energy research, liquid biofuel, wastes and residues, and non-food use of crops such as the production of fuels from lignocellulosic materials are examined. (UK)

  4. European energy policy and Italian industry

    International Nuclear Information System (INIS)

    Cardinale, A.; Verdelli, A.

    2008-01-01

    The competitiveness of the Italian industry is very sensitive to the rising costs of energy. The European energy policy, if intended as an additional constraint, could deteriorate the situation. It could be, however, a good opportunity for the Italian industry to become more independent from fossil fuels, through an innovatory project at country level [it

  5. European leadership in the energy transition

    International Nuclear Information System (INIS)

    Trannoy, Alain; Aussilloux, Vincent

    2017-01-01

    President Trump's decision to withdraw from the Paris Agreement has led to a fragmentation in the US effort to see through the energy transition, with some states supporting it and others remaining committed to intensive fossil fuel use. This predicament presents the European Union with a unique opportunity to become the global leader in green energy technologies

  6. Smart market. From smart grid to the intelligent energy market

    International Nuclear Information System (INIS)

    Aichele, Christian; Doleski, Oliver D.

    2014-01-01

    Dare more market. - The design of this postulate provides an important contribution to the success of the German energy transition. The Bundesnetzagentur has shown with its highly regarded benchmark paper on smart grids and markets leads the way towards more market in the energy sector. The therein required differentiation in a network and market sphere contributes to greater transparency on the consumer side and enables a gid releaving shift in energy consumption. The book focuses on actors and roles in the modified market circumstances as well as components and products of a future Smart Markets. Finally, to the reader concrete business models are offered. Authors from science and practice give in this book answers on how the interaction of Smart Grid and Smart Market works. [de

  7. TAXATION OF ENERGY PRODUCTS AND ELECTRICITY TO THE EUROPEAN UNION LEVEL

    Directory of Open Access Journals (Sweden)

    PĂUNESCU ALBERTO NICOLAE

    2012-06-01

    Full Text Available U.E established to increase socio-economic stability and security of supply, the Energy Community has set a good example of regional cooperation in which the EU and the South-Eastern European countries can diversify their energy sources. It has created a functioning institutional framework and more legal certainty for investors. Next steps are to enhance market reforms and to boost investments in the energy sector. The final objective is that the regional market should be fully integrated in the European's internal energy market

  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. Market conditions affecting energy efficiency investments

    International Nuclear Information System (INIS)

    Seabright, J.

    1996-01-01

    The global energy efficiency market is growing, due in part to energy sector and macroeconomic reforms and increased awareness of the environmental benefits of energy efficiency. Many countries have promoted open, competitive markets, thereby stimulating economic growth. They have reduced or removed subsidies on energy prices, and governments have initiated energy conservation programs that have spurred the wider adoption of energy efficiency technologies. The market outlook for energy efficiency is quite positive. The global market for end-use energy efficiency in the industrial, residential and commercial sectors is now estimated to total more than $34 billion per year. There is still enormous technical potential to implement energy conservation measures and to upgrade to the best available technologies for new investments. For many technologies, energy-efficient designs now represent less than 10--20% of new product sales. Thus, creating favorable market conditions should be a priority. There are a number of actions that can be taken to create favorable market conditions for investing in energy efficiency. Fostering a market-oriented energy sector will lead to energy prices that reflect the true cost of supply. Policy initiatives should address known market failures and should support energy efficiency initiatives. And market transformation for energy efficiency products and services can be facilitated by creating an institutional and legal structure that favors commercially-oriented entities

  10. Nuclear energy and european public opinions

    International Nuclear Information System (INIS)

    Libourne, J.

    2008-01-01

    This document presents four texts related to the crucial question of the attitude towards nuclear energy in the countries of the European Union: the first text comments the results of a European Commission inquiry (2006), and is more especially concerned with a comparison between Germany and France where rather similar public opinions lead to very different political approaches; the second text presents a synthesis of inquiries concerning Germany; the third is a review of the main national studies realized in various european countries; the last text is drawn from a study realized by the Cnrs on the position of the French towards nuclear wastes

  11. An european policy of the energy

    International Nuclear Information System (INIS)

    2001-12-01

    This report aims to precise the main dynamics which give structure to the public action in the domain of the energy in Europe. It shows: how the european initiatives which tend to integrate the different national policies, are poorly developed; a new european model of regulation to articulate the liberalization dynamic with the other objectives of national interest; scenari of global integration. (A.L.B.)

  12. Niche energy markets in rural areas

    International Nuclear Information System (INIS)

    Walsh, M.; McCarthy, S.

    1996-01-01

    The objective of this project is the development of a standard methodology for integrating non-food crops in rural areas with niche energy markets. This has involved a number of steps including (i) identification of 3 niche markets for energy crops which are of common interest to the partners, (ii) application of the standard costing methodology to investigate these three niche markets and (iii) comparison of the results from this work in three workshops (one for each market). Three tightly defined niche markets were identified; these were chosen following an examination of the national energy marekts in each of the partners countries (Ireland, Germany, Netherlands, UK, Greece and Portugal). This paper gives an overview of the national energy markets which were examined. The three niche markets are introduced and the reasons for their selection given. The application of the methodology to each of the niche markets is presented along with the conclusions of the partners regarding the niche markets. (Author)

  13. Tradable CO2 permits in Danish and European energy policy

    DEFF Research Database (Denmark)

    Varming, S.; Eriksen, P.B.; Grohnheit, Poul Erik

    2000-01-01

    This report presents the results of the project "Tradable CO2 permits in Danish and European energy policy". The project was financed by a grant from the Danish Energy Research Programme 1998 (Grant 1753/98-0002). The project was conducted in co-operationbetween Elsamprojekt A/S (project manager...... for a tradable CO_2 permit market for the energy sector in the EU. Experience from the tradable SO_2 permit market in the US is taken into consideration as well. Topresent an overview of price estimates of CO_2 and greenhouse gas permits in different models as well as discussing the assumptions leading...... to the different outcomes. Furthermore, the special role of backstop technologies in relation to permit prices isanalysed. To analyse the connection between CO_2 permit prices and technology choice in the energy sector in the medium and longer term (i.e., 2010 and 2020) with a special emphasis on combined heat...

  14. Legal problems of energy supply within the European Communities

    International Nuclear Information System (INIS)

    Tettinger, P.J.

    1993-01-01

    The report contains two articles; the first one is titled: The Directives on Transit of Gas and Electricity - Considerations regarding the juridical limits of the realisation of the Internal Market in the Energy Sector. It has basic considerations regarding the competences of the EC-legal nature of primary and secondary Community law; it analyzes the network of competences, the legality of the Commission's Proposals concerning the Internal Energy Market and further on the possibilities of legal recourse for enterprises in the Federal Republic of Germany in case the proposal directives are adopted. The second article deals with legal problems of energy supply within the EC-especially under the aspect of British coal mining. It incluses considerations regarding a proposed European Energy Charter, recent developments in EC-law regarding electricity and natural gas, third country imports: dumping, and privatisation. (HSCH)

  15. The European Energy Regulators Group. A panacea for good governance?

    International Nuclear Information System (INIS)

    Lavrijssen, S.A.C.M.

    2004-01-01

    This article analyses how the European Energy Regulators Group (ERGEG) may promote good governance in the EU. It is concluded that the ERGEG to some extent can stimulate national regulatory authorities into implementing European law more consistently, effectively and proportionally. Since the European Commission has a special responsibility as regards the functioning of the ERGEG, the future role of the ERGEG will depend on whether or not the Commission will leave it some autonomy to develop its advisory-, benchmarking- and coordinating role. Since the European legal framework does not include clear procedural good governance norms, there is a danger that the interests of the market parties are inadequately represented and protected at the European level. Although the ERGEG cannot take legally binding decisions, it is argued that its decisions or common standards may have legal effects. Therefore, it is of the utmost importance that the European legal framework regulates the right of access to ERGEG documents, the exchange and use of information within the ERGEG, the protection of confidential information, the right of participation and the involvement of the European Parliament [nl

  16. The European Energy Performance of Buildings Directive

    DEFF Research Database (Denmark)

    Petersen, Steffen; Hviid, Christian Anker

    This paper investigates the actual energy use for building operation with the calculated energy use according to the Danish implementation of the European Energy Performance of Buildings Directive (EPBD). This is important to various stakeholders in the building industry as the calculated energy...... performance is used for estimating investment security, operating budgets and for policy making. A case study shows that the actual and calculated energy use is practically the same in an average scenario. In the worst-case uncertainty scenario, the actual energy use is 20 % higher than the corrected...

  17. Energy prices, volatility, and the stock market. Evidence from the Eurozone

    International Nuclear Information System (INIS)

    Oberndorfer, Ulrich

    2009-01-01

    This paper constitutes a first analysis on stock returns of energy corporations from the Eurozone. It focuses on the relationship between energy market developments and the pricing of European energy stocks. According to our results, oil price hikes negatively impact on stock returns of European utilities. However, they lead to an appreciation of oil and gas stocks. Interestingly, forecastable oil market volatility negatively affects European oil and gas stocks, implying profit opportunities for strategic investors. In contrast, the gas market does not play a role for the pricing of Eurozone energy stocks. Coal price developments affect the stock returns of European utilities. However, this effect is small compared to oil price impacts, although oil is barely used for electricity generation in Europe. This suggests that for the European stock market, the oil price is the main indicator for energy price developments as a whole. (author)

  18. The European Energy Charter Treaty

    International Nuclear Information System (INIS)

    Boege, U.

    1995-01-01

    The scope of the treaty is highlighted. The treaty consists of a preamble and 50 articles and is divided into 8 parts and supplemented with 14 annexes. The parts of the treaty deal with the following: (i) definitions and purpose of the treaty; (ii) general topics such as trading, competition, transit, technology transfer and access to capital markets; (iii) support and protection of investments; (iv) list of regulations; (v) resolution of disputes; (vi) provisional clauses governing trade with GATT non-member states; (vii) structural and institutional provisions concerning the execution and function of the protocol, tasks of the Charter conference and secretariat including their equipment, rules of conduct and financing; and (viii) final provisions. (J.B.)

  19. COMPETITION AND REGULATION IN THE EU ENERGY MARKET

    Directory of Open Access Journals (Sweden)

    Cristina Havriş

    2009-12-01

    Full Text Available When prices are high and public service obligations are not properly fulfilled, consumers wonder if they obtain what they need from the market. In electricity and gas markets of the EU Member States, apart from the persistence of high, non-transparent regulated prices, a number of shortcomings have been identified by the European Commission, such as a less than optimal network use for energy transmission, a lack of coordination and cooperation across borders by transmission system operators and national authorities, and a lack of transparent and simple procedures for dealing with consumers’ complaints. These are the main elements of the infringement proceedings that the European Commission decided to launch on 25 June 2009 against 25 Member States for non–compliance with certain Community provisions in the Second Internal Energy Market Package, which entered into force on 1 July 2007. Quite emblematic is the fact that it occurred the same day as the adoption of the Third Internal Energy Market Package aiming to ensure a proper functioning of the EU energy market. We intend to analyse what has happened in the recent years at the EU level in order to liberalise and remove the significant remaining obstacles to competition in the energy market.

  20. Relevant Market in Commercial Aviation of the European Union

    Directory of Open Access Journals (Sweden)

    Jakub Kociubiński

    2011-06-01

    Full Text Available The purpose of this paper is to provide a brief overview of the issue of definition of relevant market in civil aviation within the European Union. The liberalization of the market since the early 1990s has led to a rapid increase in the number of airlines operating in the EU. The increase in the competitiveness of the market has brought many positive changes for passengers, such as lower fares and a better network of connections. At the same time it has created a risk that the airlines, in order to gain a competitive edge, would infringe the rules of competition. This is especially important in the context of the phenomenon that is the development of the airline alliances, which could lead to an abuse of a dominant position. A clear definition of the relevant market is a first step in an assessment of whether such an abuse occurred. This paper focus on the elements that Internal Market regulator, the European Commission, takes into consideration when defining relevant market in the airline industry.

  1. 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...

  2. 1992 status report: U.S. sets new wind energy record as domestic market stagnates

    International Nuclear Information System (INIS)

    Gipe, Paul

    1993-01-01

    The current status of the USA wind turbine industry is reviewed both in terms of its domestic market and the global market. Although performance in the domestic market continues to improve and costs continue to drop, the growing European market resulting from their national policies to encourage renewable energies threaten the previous US dominance in this field. It is argued that US national energy policy should aid wind energy development. (UK)

  3. 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.

  4. Multiple Hub Network Choice in the Liberalized European Market

    Science.gov (United States)

    Berechman, Joseph; deWit, Jaap

    1997-01-01

    A key question that so far has received relatively little attention in the germane literature is that of the changes at various airports as a result of the EU liberalization policies. That is, presently, most major European airports still benefit from the so-called home-carrier phenomenon where the country's publicly or semi-publicly owned carrier uses the country's main airport as its gateway hub and, consequently, the home-carrier is also the principal user of this airport (in terms of proportion of total aircraft movements, number of passengers transported, connections, slots ownership, etc.). The country's main airport has substantially benefited from these monopoly conditions of airline captivity, strongly determined by the bilateral system of international air transport regulation. Therefore, European major airports were used to operate in essentially different markets, compared to the increasingly competitive markets of their home based carriers. This partly explains relative stability of transport volumes and financial results of European major airports compared to the relatively volatile financial results of most European national airlines. However, the liberalization of European aviation is likely to change this situation. Market access is open now to all community carriers, i.e. carriers with majority ownership and effective control in the hands of EU citizens. Ticket prices are free, governments can only intervene in case of dumping or excessive pricing. A community airline can choose its seat in any of the 15 member states. Licensing procedures are harmonized between member states. In the last few months community carriers have had unrestricted route access within the EU. Most probably this development will be extended to countries inside and outside Europe. Last year the European Commission got the mandate to start negotiations with 10 other European countries. In the meantime the EC has also started negotiations with the USA on so-called soft rights

  5. 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

  6. The Microstructure of the European Sovereign Bond Market

    DEFF Research Database (Denmark)

    Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide

    We explore the interaction between credit risk and liquidity, during the Euro-zone crisis, in the Italian sovereign bond market, using a unique tick-by-tick dataset, from the period June 2011-December 2012. We document a strong, dynamic relationship between changes in sovereign credit risk...... and market liquidity, conditional on the credit default swap (CDS) spread: When the CDS is above 500 basis points (bp), market liquidity adjusts more rapidly and signicantly to changes in the credit risk. Other global systemic factors also aect market liquidity, while, surprisingly, the specic credit risk...... of primary dealers plays only a modest role, especially under conditions of stress. Further, the Long-Term Renancing Operations (LTRO) by the European Central Bank (ECB) on December 8, 2012, clearly attenuated the relationship between credit risk and liquidity....

  7. Meat export competitiveness of European Union countries on global markets

    Directory of Open Access Journals (Sweden)

    Štefan Bojnec

    2014-10-01

    Full Text Available The purpose of this research is to provide insight into the export competitiveness of meat products of the European Union (EU-27 member states on global markets. The revealed comparative advantage index is used to analyze the levels, compositions, and evolutions in patterns of development in the export competitiveness of meat products and their levels of stability at the product level. Except for some niche meat products, a larger number of the EU-27 member states have experienced comparative disadvantages on global markets over the analysed years of 2000 to 2011. The revealed comparative advantages on the global markets are the most robust for Ireland, Spain, the Netherlands, France, Belgium, Denmark, Poland, Cyprus and Hungary. The revealed comparative advantage indices and their survival rates differ across the meat product groups. The heterogeneity in export competitiveness of the EU-27 member states suggests the importance of the differentiation of meat products in competitive export specialization on global markets.

  8. 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)

  9. Renewable energy sources. European Commission papers

    International Nuclear Information System (INIS)

    1997-05-01

    The ''Directive on the Promotion of Electricity from Renewable Sources of Energy in the Internal Electricity Market'' was adopted in September 2001. Its purpose is to promote an increase in the contribution of renewable energy sources to electricity production in the internal market for electricity and to create a basis for a future Community framework. Energie-Cites provides in this document a summary of its opinion on the Green Paper and on Alterner II and gives a proposal for an Action Plan concerning the White Paper. (A.L.B.)

  10. 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

  11. 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

  12. Market opening: how will European gas supply evolve?

    International Nuclear Information System (INIS)

    Delon, Ch.

    1999-01-01

    With the implementation of the gas directive, European gas companies are facing many new challenges. Some concern the upstream gas sector in particular, notably with the new rules of competition in Europe, the changes in the structure of gas industries and their adaptation to the new Europe-wide market. For this first round table to the 116. gas conference, chaired by Sophie Mayeux, journalist and editor of the Est Eco journal, four representatives of major European companies and one representative of the banking sector examined the possible future scenarios for gas supply in Europe. (authors)

  13. Impact of Energy Transition in Germany on the Nordic Power Market – A Blessing or Curse?

    DEFF Research Database (Denmark)

    Zakeri, Behnam; Syri, Sanna; Connolly, David

    2015-01-01

    integrate and harmonize regional markets towards a pan-European power market with a single pricing algorithm. The impacts of such power market couplings on the interconnected countries are complex, which concerns market participants in different levels, from consumers and producers to grid operators...... in such interconnected countries calls for a market-based multiregion energy system model. In this respect, this contribution analyses the impact of further VRE in Germany on the Nordic countries by proposing a new integrated energy system, power market model of the region. The results reveal the market-economic impact......The European energy policy emphasizes the establishment of EU-wide internal energy markets as a reliable solution in increasing the security of supply, optimal use of internal energy resources, and improved economic competitiveness. With respect to the power sector, the EU’s strategy is to further...

  14. A comparison of European energy taxes

    International Nuclear Information System (INIS)

    Boiteux, S.

    2004-01-01

    Energy and pollution are two closely related topics, and justifiably so, even if the environmental repercussions of energy consumption affect society to varying degrees. Today, there is a revival of interest for 'clean' energy solutions with respect to the traditional, more polluting, energy sources. The boundary between these two energy categories remains difficult to established. Natural gas is a perfect example because it is considered as a clean alternative to hydrocarbons, while its use generates greenhouse gases. Taking into consideration these criteria, together with some others, in particular economical and strategic, each country must establish environmental policies in which energy taxes play a key role. This study examines the taxation of traditional types of energy (automotive fuels, fuel oil, natural gas and electricity) within the European Union. The goal is to provide an overview of environmental taxes applied to energy in Europe, prior to the application of the new directive that sets minimum rates for these energies starting in 2004

  15. Third single energy market package of the EU Commission

    International Nuclear Information System (INIS)

    Heller, W.

    2008-01-01

    In adopting the so-called Third Single Energy Market Package on September 9, 2007, the European Commission has initiated a comprehensive reform of the single energy market. The main item of the package is the separation of generation and supply from the transmission grids and transport networks in the electricity and gas sectors (ownership unbundling), an approach favored by the Commission. On the other hand, the Commission wants to advance protection of the European market in case firms from third countries, to the extent in which they do not comply with the EU unbundling requirements, would want to assume control over an EU grid or network. The key points of the package are presented. The legal and entrepreneurial ramifications are discussed, for instance, under the aspect of protection of ownership, and concrete as well as potential concerns about ownership unbundling are voiced. (orig.)

  16. Portfolio Diversification in the South-East European Equity Markets

    Directory of Open Access Journals (Sweden)

    Zaimovic Azra

    2017-04-01

    Full Text Available Diversification potential enables investors to manage their risk and decrease risk exposure. Good diversification policy is a safety net that prevents a portfolio from losing its value. A well-diversified portfolio consists of different categories of property with low correlations, while highly correlated markets have the feature of low possibilities for diversification. The biggest riddle in the world of investments is to find the optimal portfolio within a set of available assets with limited capital. There are numerous studies and mathematical models that deal with portfolio investment strategies. These strategies take advantage of diversification by spreading risk over several financial assets. Modern portfolio theory seeks to find the optimal model with the best results. This paper tries to identify relationships between returns of companies traded in South-East European equity markets. A Markowitz mean-variance (MV portfolio optimization method is used to identify possibilities for diversification among these markets and world leading capital markets. This research also offers insight into to the level of integration of South-East European equity markets. Principal component analysis (PCA is used to determine components that describe the strong patterns and co-movements of the dataset. Finally, we combined MV efficient frontier and equity, which represent PCA components, to draw conclusions. Our findings show that PC analysis substantially simplifies asset selection process in portfolio management. The results of the paper have practical applications for portfolio investors.

  17. European Economic Community/the European energy conference

    Energy Technology Data Exchange (ETDEWEB)

    1979-03-30

    European Economic Community/the European energy conference (a meeting of the energy ministers of the nine member countries), held at Brussels on 3/27/79, was a continuation of the EEC Council meeting held at Paris on 3/12-13/79. Proposals for measures to be taken by the member countries included support for exploration, especially geophysical prospecting for oil off the east coast of Greenland, at a cost of 3.5 million units of account (UC); modification of the regulations for crude oil distribution among the EEC member countries in case of a supply crisis; a second series of 36 energy-conservation demonstration projects, to cost 15,626,320 UC and be undertaken in 1979-83; and the UK proposal to call for bids on the first series of 17 projects, costing 5,779,000 UC and adopted in Dec. 1978, before discussing the second series. Six of the 36 projects are French; they involve heat pumps and hybrid nuclear-electric vehicles and space-heating systems. A report on the current status of coal projects was given, and problems with fast-breeder reactors were discussed.

  18. Integrated energy systems and local energy markets

    International Nuclear Information System (INIS)

    Lund, Henrik; Muenster, Ebbe

    2006-01-01

    Significant benefits are connected with an increase in the flexibility of the Danish energy system. On the one hand, it is possible to benefit from trading electricity with neighbouring countries, and on the other, Denmark will be able to make better use of wind power and other types of renewable energy in the future. This paper presents the analysis of different ways of increasing flexibility in the Danish energy system by the use of local regulation mechanisms. This strategy is compared with the opposite extreme, i.e. trying to solve all balancing problems via electricity trade on the international market. The conclusion is that it is feasible for the Danish society to include the CHP plants in the balancing of fluctuating wind power. There are major advantages in equipping small CHP plants as well as the large CHP plants with heat pumps. By doing so, it will be possible to increase the share of wind power from the present 20 to 40% without causing significant problems of imbalance between electricity consumption and production. Investment in increased flexibility is in itself profitable. Furthermore, the feasibility of wind power is improved

  19. Independent regulatory authorities - a comparative study of European energy regulators

    International Nuclear Information System (INIS)

    Sander Johansen, K.; Holm Pedersen, L.; Moll Soerensen, E.

    2004-04-01

    Independent regulatory authorities are widely recommended as part of the institutional design of liberalised energy markets - not least by the European Commission. This report describes and compares the regulatory authorities for energy in the EU. Arguments for regulatory independence are presented and discussed, and an index is developed to measure the degree of conformance to theories of regulatory independence. It is established that the main pattern of variation is that countries, which formerly had strong state-owned companies, have chosen to create regulatory authorities at state level with many institutional safeguards for independence. (au)

  20. Energy and environmental market in industrial enterprises in Thailand

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1999-04-01

    This paper discusses markets related with energy conservation and environment preservation in industrial enterprises in Thailand. The present Thailand is not in a situation that investments are made into environmental businesses or energy saving businesses. However, the attitude of the government toward environment is that emphasis is placed on solving the environmental pollution problems. Laws and regulations are defined for assistance in environment preservation to corporations making efforts to increase export, resource protection and energy conservation. These measures lead to expectation on bright future in developing technologies and markets related to environment preservation and energy conservation. Control of wastes by using clean technologies and enhancement in productivity are very important issues for the export of Thailand partly because European countries and America set these requirements as a condition for transaction. The markets related to energy conservation and environment preservation are anticipated of participation from such businesses as consultants, device manufacturers, and inspection and analysis of environmental effects. (NEDO)

  1. 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)

  2. European gas markets and Russian LNG. Prospects for the development of European gas markets and model simulations of possible new LNG supplies from year 2000

    Energy Technology Data Exchange (ETDEWEB)

    Eldegard, Tom [Foundation for Research in Economics and Business Administration, Bergen (Norway)

    1996-07-01

    The study aims at clarifying the framework for possible LNG exports from Northern Russia and focuses on the European natural gas markets. The first stage provides general background information on the market structure and related topics. In the second stage this information is used to develop a formal market model and subject it to simulations with various assumptions of the future gas supply. The model is described and results from simulations are given. In the first stage facts from the history of the European natural gas market are outlined. Underlying conditions for the development of natural gas markets in Europe are addressed. The EU has been promoting trade liberalisation in the energy sector but most counties resist freer gas trade across the boarders. New infrastructure development for natural gas are either underway or planned. Some important projects are mentioned. Gas in a global perspective is discussed. The cost structure of the LNG chain is mentioned and an overview of existing LNG export capacities world-wide and major reception terminals in Europe and the USA is given. The second stage employs a scenario analysis to evaluate the economic effects of hypothetical LNG deliveries from Northern Russia. The model is developed for the analysis of West European natural gas markets and designed to allow users to create a structural system of interconnected producers and market regions. Basic assumptions for the evolution of natural gas markets till 2005 is developed and base case scenarios calculated for the years 2000 and 2005 and used as a point of reference for the alternative scenarios considered. According to the analysis the introduction of a new LNG supplier in the European gas market will inflict a substantial loss upon all the existing producers. The primary keys to this result are the assumptions made for gas demand and supply capacity. The LNG alternative will hardly be approved for purely economic reasons as long as the Russians maintain

  3. European gas markets and Russian LNG. Prospects for the development of European gas markets and model simulations of possible new LNG supplies from year 2000

    International Nuclear Information System (INIS)

    Eldegard, Tom

    1996-01-01

    The study aims at clarifying the framework for possible LNG exports from Northern Russia and focuses on the European natural gas markets. The first stage provides general background information on the market structure and related topics. In the second stage this information is used to develop a formal market model and subject it to simulations with various assumptions of the future gas supply. The model is described and results from simulations are given. In the first stage facts from the history of the European natural gas market are outlined. Underlying conditions for the development of natural gas markets in Europe are addressed. The EU has been promoting trade liberalisation in the energy sector but most counties resist freer gas trade across the boarders. New infrastructure development for natural gas are either underway or planned. Some important projects are mentioned. Gas in a global perspective is discussed. The cost structure of the LNG chain is mentioned and an overview of existing LNG export capacities world-wide and major reception terminals in Europe and the USA is given. The second stage employs a scenario analysis to evaluate the economic effects of hypothetical LNG deliveries from Northern Russia. The model is developed for the analysis of West European natural gas markets and designed to allow users to create a structural system of interconnected producers and market regions. Basic assumptions for the evolution of natural gas markets till 2005 is developed and base case scenarios calculated for the years 2000 and 2005 and used as a point of reference for the alternative scenarios considered. According to the analysis the introduction of a new LNG supplier in the European gas market will inflict a substantial loss upon all the existing producers. The primary keys to this result are the assumptions made for gas demand and supply capacity. The LNG alternative will hardly be approved for purely economic reasons as long as the Russians maintain

  4. Bank Insolvency Procedures and Market Discipline in European Banking

    OpenAIRE

    Angkinand, Apanard; Wihlborg, Clas

    2005-01-01

    Market discipline in banking requires that explicit and implicit insurance schemes for financial sector firms are limited, and that the lack of insurance of important stakeholders is credible. This credibility cannot be achieved without transparent, predictable procedures for distress resolution for banks, including explicit rules for the liquidation of insolvent banks. We find that very few European countries have explicit procedures for dealing with problem banks. The propositions tested in...

  5. Meat export competitiveness of European Union countries on global markets

    OpenAIRE

    Štefan Bojnec; Imre Fertő

    2014-01-01

    The purpose of this research is to provide insight into the export competitiveness of meat products of the European Union (EU-27) member states on global markets. The revealed comparative advantage index is used to analyze the levels, compositions, and evolutions in patterns of development in the export competitiveness of meat products and their levels of stability at the product level. Except for some niche meat products, a larger number of the EU-27 member states have experienced comparativ...

  6. Intraday price discovery in emerging European stock markets

    Czech Academy of Sciences Publication Activity Database

    Hanousek, Jan; Kočenda, Evžen

    -, č. 382 (2009), s. 1-35 ISSN 1211-3298 R&D Projects: GA ČR(CZ) GA402/08/1376; GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : price discovery * stock markets * intra-day data * European Union * macroeconomic news Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp382.pdf

  7. Risk-Return Trade-Off for European Stock Markets

    OpenAIRE

    Aslanidis, Nektarios; Christiansen, Charlotte; Savva, Christos S.

    2015-01-01

    This paper adopts dynamic factor models with macro-finance predictors to revisit the intertemporal risk-return relation in five large European stock markets. We identify country specific, Euro area, and global factors to determine the conditional moments of returns considering the role of higher-order moments as additional measures of risk. The preferred combination of factors varies across countries. In the linear model, there is a strong but negative relation between conditional returns and...

  8. Market performance and distributional effects on renewable energy markets

    International Nuclear Information System (INIS)

    Koutstaal, P.; Bijlsma, M.; Zwart, G.; Van Tilburg, X.; Ozdemir, O.

    2009-08-01

    A renewable obligation (RO) combined with tradable renewable energy certificates is a market-based instrument used to promote the production of electricity from renewable energy sources. A renewable obligation is an alternative for subsidies. A renewable obligation will only be an efficient instrument if certificate markets are efficient. This requires that there is no market power and no anti-competitive behaviour on the certificate market. If the current developments in Dutch renewable energy production continue, market power on a future renewable certificate market in the Netherlands will probably not be an issue, even if the RO should only rest on the retail market instead of on the whole electricity market. A renewable obligation will raise the retail price for consumers, thereby reducing consumer surplus. Simulations show that the retail electricity price increases with 30 euro per MWh to a level of 104 euro per MWh in case of a 30% renewable target. Consumer surplus is reduced with 19% compared to the baseline scenario. In contrast, a subsidy such as the Dutch SDE (Promoting Renewable Energy scheme or 'Stimulering Duurzame Energie') which is financed from the state budget has the effect to (slightly) lower the retail electricity price, thereby increasing consumer surplus. It should however be realised that the costs of the subsidy will indirectly affect electricity consumers through their tax payments.

  9. Local investment in renewable energies - European experiences

    International Nuclear Information System (INIS)

    Quantin, J.; Grepmeier, K.; Larsen, J.; Manolakaki, E.; Smith, M.

    2004-01-01

    This booklet is realized within the framework of the european commission called PREDAC. This document have been conceived by a working group specialized on the local investment into renewable energies thematic. The objectives of this project are: to promote citizen participation in the financing of renewable energies projects in Europe; to make organizations, investor clubs and local government to be aware of this way of implication into renewable energies development; to examine more especially three renewable energy sources: biomass, photovoltaic and wind in Denmark, France, Germany, Greece and United Kingdom. (author)

  10. Energy policy in the European Community

    International Nuclear Information System (INIS)

    Spaak, F.

    1975-01-01

    The implications of energy problem for consumer countries are first expounded, and then EC's energy policy in wide context is explained. The policy has been understood as three inter-related and indivisible elements: the planning of the community's own market; relations with other energy consumers; and, relations with energy producers. Each element must complement and support the other. Descriptions are made over how each of these elements has developed over the last year and a half, how it is developing now, and how it responds to the energy problem. (Mori, K.)

  11. Brussels' new energy package. Focus on the internal market proposals

    International Nuclear Information System (INIS)

    Graeper, F.W.J.H.N.

    2007-01-01

    January 10, 2007, the European Commission presented its proposals for an integrated climate change and energy package. The proposals set out in the 'Energy Policy for Europe' document follow the Green Paper on a European Strategy for Sustainable, Competitive and Secure Energy, a consultation document launched in March 2006 by the Commission. The ideas put forward in the Green Paper have been developed and translated into a proposal for an action plan with respect to the three main objectives of a European Energy Policy: security of supply, combating climate change and the completion of the internal market for electricity and gas. This ardcle will briefly discuss the main elements of the Energy Policy for Europe proposals. The article will then focus on some aspects of the proposals for the internal energy market. In doing so it will concentrate on matters related to the natural gas market. Special attention will be given to the proposals with respect to unbundling and improved regulation of network access and the possible trade-off between the degree of unbundling and the level of regulatory involvement

  12. Integration of energy markets with neighbouring countries

    International Nuclear Information System (INIS)

    Mulder, M.; Vermeulen, M.

    2008-01-01

    The Dutch wholesale markets for energy are still hindered by the various bottlenecks, which lead to higher costs for energy consumers than in well operating markets. A more efficient utilization of the import infrastructure could result in savings for energy consumers up to several tens of millions of euros. The managers of the transport infrastructure must take on a more active approach to eliminate these market obstacles. [mk] [nl

  13. Energy efficiency, market failures, and government policy

    International Nuclear Information System (INIS)

    Levine, M.D.; Koomey, J.G.; McMahon, J.E.; Sanstad, A.H.; Hirst, E.

    1994-03-01

    This paper presents a framework for evaluating engineering-economic evidence on the diffusion of energy efficiency improvements. Four examples are evaluated within this framework. The analysis provides evidence of market failures related to energy efficiency. Specific market failures that may impede the adoption of cost-effective energy efficiency are discussed. Two programs that have had a major impact in overcoming these market failures, utility DSM programs and appliance standards, are described

  14. International biomass. International markets of biomass-energy - Public synthesis

    International Nuclear Information System (INIS)

    Gardette, Yves-Marie; Dieckhoff, Lea; Lorne, Daphne; Postec, Gwenael; Cherisey, Hugues de; RANTIEN, Caroline

    2014-11-01

    This publication proposes a synthesis of a study which aimed at analysing the present and future place of wood-energy in the European Union as the main renewable resource used to produce heat and electricity. This study comprised an analysis of European markets of solid biomass and of regulation, case studies on wood-energy producer markets (North America, Eastern Europe, Brazil and Africa), a study of preparation modes (shredding, granulation, roasting) and biomass transport. This study is based on bibliographical searches in national and European sources, and on field data collected by the various bodies involved in this study. This synthesis notably discusses the following issues: solid biomass is the main renewable resource for the EU and has many applications; European objectives for solid biomass by 2020 are very ambitious; markets are becoming international to face the EU's increasing demand; pellet production in North America is strongly increasing; in Europe, eastern European countries are the main exporters; Brazil has an export potential which is still to be confirmed; the African trade with Europe is still in its infancy. Finally, the development perspectives of roasted wood trade are discussed

  15. The issue of energy security in relations between the European Union and Azerbaijan

    Directory of Open Access Journals (Sweden)

    O V Shabelnikova

    2014-12-01

    Full Text Available The article focuses on cooperation between the European Union and the Republic of Azerbaijan on energy issues. The author analyzes the EU initiatives and projects for the Black Sea and Caspian Sea region as well as the questions of delivery diversification of the Azerbaijani gas to the European markets.

  16. Debates of the Vista 2009 Colloquium 'A European emergency: energy policy'

    International Nuclear Information System (INIS)

    Fabius, Laurent; Ladoucette, Philippe de; Lederer, Pierre; Percebois, Jacques; Ristori, Dominique; ); ROSIER, Philippe; Tran Thiet, Jean-Paul; Chalmin, Philippe

    2009-05-01

    After an introduction speech by the chairman of Vista-Think tank energies, a first debate examined whether energy needs Europe. The interveners discussed the existence of other instruments than competition, the openness to all the market actors, the relationship between the regulatory policy and the possibility of development at a European level. The second debate examined whether Europe needs energy. The interveners describe the development of a European energy sector in a context without any actual European energy policy, how such a policy can emerge, how the various challenges and objectives are addressed

  17. Opportunities and challenges for a sustainable energy policy in SE Europe: SE European Energy Community Treaty

    International Nuclear Information System (INIS)

    Mihajlov, Andjelka

    2010-01-01

    Energy demand continues to increase in turn raising concerns about energy supply. In this paper, the author has tried to systematize the role of the energy sector in South Eastern (SE) Europe in the context of the European energy policy process. This should make the energy sector in SE Europe more visible and open to substantial activities and appropriate funding. This is important to assure its full alignment with the European energy policy process, and in so doing, make it less fragile. According to the SE European Energy Community Treaty, parties to the Treaty are obliged to implement reforms in the energy and environmental sector in accordance with the European Union's respective policy. This paper raises awareness of the environmental requirements that have been set, of renewable energy and its implementation, at the same time pointing out that the response in SE Europe has been at a low level. It is believed that this paper could draw attention to the existing problems and could contribute to the establishment of a common integrated energy market in SE Europe and the EU. (author)

  18. 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

  19. A FRAMEWORK ANALYSIS OF EUROPEAN LABOUR MARKET POLICIES

    Directory of Open Access Journals (Sweden)

    Graţiela Georgiana Carica

    2011-03-01

    Full Text Available The purpose of the paper is to analyse European labour market policies and their integrated guidelines, by highlighting various measures that need to be adopted in order to increase labour productivity, with positive effects on long-term economic development. The paper methodizes the main conditions complied by structural reforms in order to encourage labour employment and the policies that frame a more efficient unemployment insurance system crucial to increase security while encouraging the unemployed to look for a job and to accept a job offer, respectively on flexicurity policies. We found that employment rates are generally associated with large expenses on labour market policies and with an increased number of participants to programs developed within these types of policies. The degree of influence and strong dependence between outcome and labour market policies are illustrated in various ways and discussed within the paper.

  20. Big Data and Insurance: Advantageous Selection in European Markets

    Directory of Open Access Journals (Sweden)

    Francesco Corea

    2017-06-01

    Full Text Available Rothschild and Stiglitz (1976 argued that people signal their risk profile through their insurance demand, i.e. individuals with a high risk profile would buy insurance as much as they can, while people who are not going to buy any insurance are the ones with a lower risk profile. This issue is commonly known as adverse selection. Even if their prediction seems to work quite well in a lot of different markets, Cutler et al. (2008 proved that there exist some insurance markets in United States in which the expected result is completely different. In the wake of this study, we provide empirical evidences that there are some European insurance markets in which the low risk profile agents are the ones who buy more insurance.

  1. Energy price forecast by market analysis

    International Nuclear Information System (INIS)

    Jongepier, A.G.

    2000-01-01

    A power trader benefits from accurate price predictions. Based on market analyses, KEMA Connect has developed - in cooperation with Essent Energy Trading - a market model, enhancing the insight into market operation and one's own actions and thus resulting in accurate price predictions

  2. 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

  3. [European integration and health policies: repercussions of the internal European Market on access to health services].

    Science.gov (United States)

    Guimarães, Luisa; Giovanella, Lígia

    2006-09-01

    This article explores the health policy repercussions of countries' regional integration into the European Union. The aim is to review the regulation of access in other countries, with the conclusion of the single European market and the free circulation of persons, services, goods, and capital. The article begins by reviewing the various forms of integration and describes the expansion and institutionalization of Community agencies. The repercussions of European integration on health policies and regulation of access are analyzed. Market impacts on health result from Treaty directives and internal policy adjustments to free circulation. Health services access is gradually regulated and granted by rulings. Projects along borders illustrate the dynamics where differences are used to achieve comprehensive care. In the oldest integration experience, the market regulation has generated intentional and non-intentional impacts on the health policies of member states, regardless of the organizational model. Knowledge and analysis of this experience signals challenges for the Southern Cone Common Market (Mercosur) and adds to future debates and decisions.

  4. Energy security and European Union. Proposals for the French presidency

    International Nuclear Information System (INIS)

    Mandil, C.

    2008-04-01

    This report treats of energy security and of the two related topics which are the fight against climatic change and the economic growth. The first chapter analyses the energy risks that we will have to face. It makes a difference between the long-term risks (depletion of energy resources) and the short-term risks (supply disruption). Concerning the short-term risks, it is recalled that most of the supply incidents have an internal cause and that imports can have advantages and not only drawbacks. The second chapter approaches the delicate problem of European harmonization between the speech and the action when the energy security is in concern. A conclusion of this chapter is that the 'speaking with a single voice' goal can be reached only if improvements are made in the domain of solidarity between member states. The completion of the internal energy market is therefore a priority and the mission of regulators must include the security aspect. The third chapter treats of the particular case of the relation with the Russian supplier. It suggests to work for a lower energy dependence with respect to Russia, by developing the energy efficiency, the LNG industry, the renewable energies and the nuclear energy. The fourth chapter deals with the relations with the Caspian sea surrounding countries in the perspective of gas exports towards Europe. Here again, the cooperation with Russia is of prime importance. It approaches also the problem of the gas negotiation with Turkey which requires a significant improvement of the consistency of European diplomacy in this area. The last chapter treats of the role of international organisations and of the dialogue in the domain of energy. It suggests some paths to develop the confidence between the different intervening parties. It stresses on the lack of transparency which disturbs the markets and weakens the security. (J.S.)

  5. Soviet and East European energy databook

    International Nuclear Information System (INIS)

    Wilson, D.C.

    1991-01-01

    For the USSR, energy data is assembled under the following main headings: energy and the economy; production; engineering; exploration; transport of fuel; refining; consumption by sector; employment; finance; trade; electricity. There are 162 tables. Five tables of data on Eastern Europe as a region cover production of energy, consumption, and exports of crude and oil products. Using similar broad headings as these for the USSR, a further 184 tables give data for the following individual countries: Bulgaria; Czechoslovakia; East Germany; Hungary; Poland; Romania; Yugoslavia. The data has been accumulated from Soviet and East European sources, mainly newspapers, journals, annual yearbooks and private contacts and the chief of these are listed. (UK)

  6. Integrated marketing communications at solar energy equipment market

    OpenAIRE

    I.L. Litovchenko; I.A. Shkurupskaya

    2013-01-01

    The aim of the article. The article is devoted to the development of the concept of «integrated marketing communications», as well as its adaptation to a specific market of solar energy equipment. The theoretical development of foreign and domestic scholars in the field of IMC is considered. The aim of the article is to define the concept of «integrated marketing communications» and use them in the market of solar еnergy equipment in an information economy. The author's definition of the c...

  7. The relationship between the political authorities and the commercial actors in the European natural gas market

    International Nuclear Information System (INIS)

    Mjelde, Jarle Christian

    1998-01-01

    In summarizing the reasons for the fall of the Roman empire one has found about 210 significant ones. Without too much comparison the Roman empire and the EU natural gas market have similarities in connections between political authorities and the commercial actors in the European natural gas market. The area has consisted of several independent markets with different solutions that from 1988 has been tried integrated in an inner energy market. Several governmental and private actors have interest in this sector and both inhabitants and businesses are affected by alterations in a national natural gas market. This process is not yet finished. The thesis gives a broad description of the topic by including as many as possible of the EU member states. The topic is large and complex and the author has had to make a choice which parts to emphasize. There are chapters on the theoretical basis, the natural gas industry, what factors may explain the relationship between the political authorities and the commercial actors in the national natural gas market in each EU member and how does the EU Commission goals regarding free competition in the energy market affect the relationship between the political authorities and commercial actors in the national natural gas market

  8. 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.

  9. European Sugar Market – Impact of Quota System

    Directory of Open Access Journals (Sweden)

    Irena Benešová

    2015-01-01

    Full Text Available The European agricultural market has been criticized for its heavy regulations and subsidization. The sugar market is one of the most regulated ones; however, this will change radically in 2017 when the current system of production quotas will end. The aim of this paper is to present the basic characteristics of the EU quota sugar market. The analysis identifies the main drivers of EU sugar market and their position within the EU sugar market. The paper identifies especially those drivers/companies/alliances which take control over the EU sugar production realized under the quota production system. The paper also highlights the level of EU sugar market concentration and also identifies those countries and companies which are the main leaders in the sugar production area realized under the quota system. Based on the results deriving from the paper, it is possible to characterize the EU sugar market as a heavily concentrated one – nearly 75% (10 mil. tonnes of the quota is controlled by five multinational companies only; these companies are operating more than 50% of all the available sugar plants located in the EU. These multinational alliances are also in control of the production capacities of their subsidiaries. In most countries, this causes serious problems as the given quota is controlled by one or two producers only. The EU sugar market is extremely concentrated especially if we take into consideration the location of each alliance’s headquarters. The majority of production capacities are under (the control of especially German and French companies. These two countries are also the main beneficiaries in relation to the EU sugar production quota system.

  10. Considerations for Emerging Markets for Energy Savings Certificates

    Energy Technology Data Exchange (ETDEWEB)

    Friedman, B.; Bird, L.; Barbose, G.

    2008-10-01

    Early experiences with energy savings certificates (ESCs) have revealed both their merit and the challenges associated with them. In the United States, there has been little activity to date, so any lessons must be drawn from experiences in Italy, the United Kingdom (UK), France, and elsewhere. The staying power of European examples, particularly in Italy, demonstrates that ESCs can help initiate more efficiency projects. Although a robust market for renewable energy certificates (RECs) has emerged in both the voluntary and policy compliance contexts in the United States, ESCs have yet to gain significant traction. This report looks at the opportunity presented by ESCs, the unique challenges they bring, a comparison with RECs that can inform expectations about ESC market development, and the solutions and best practices early ESC market experience have demonstrated. It also examines whether there are real market barriers that have kept ESCs from being adopted and what structural features are necessary to develop effective trading programs.

  11. Shell's Role in the Future European Gas Scene - Is a Major Market Restructuring Under Way?

    International Nuclear Information System (INIS)

    Segundo, Karen de

    1999-01-01

    The European gas market is being restructured by a combination of major global forces. Environmental considerations like the Kyoto Agreement favour the use of gas. But in the medium-term, supplies may be limited by low energy prices. The political drive for increased competition has manifested itself as the EU Gas Directive, which came into force in 1998. Shell believes that the European industry must progressively adapt to this restructuring. Flexible mechanisms like tradable emission permits should be used to generate investment capital for new gas supply projects. Moreover, both industry and regulators should take a positive and constructive approach towards increasing competition in the marketplace

  12. WEC Europe - Road Map Towards a Competitive Energy Market

    International Nuclear Information System (INIS)

    Lundberg, G.

    2009-01-01

    G. Lundberg, the chair of regional task force presented the final draft report. The main conclusions and recommendations that the study has provided may be resumed as follows: 1) The creation of single European electricity market should be initiated with the formation of a core-European market by merging at first, two of the existing more advanced markets, in term of liberalization and effective operation, namely the Nordic and the Central Western European one. Thus, it will include 10 countries (Austria, Belgium, Denmark, Finland, France, Germany, Luxembourg, the Netherlands, Norway and Sweden) representing more than 50% of the EU-29 (plus Norway + Switzerland) electricity generation. Then, it would likely become attractive for joining by other currently fragmented European markets. The formation of the new core-European market should start immediately despite the current recession and it should be designed in a flexible frame, in order to ease the accommodation of the remaining markets; 2) The so-created core-European initial market will undoubtedly requires a set of common regional rules, to be elaborated in compliance with the third package provisions and the guidelines/market codes following the third package approval. Thus, it will provide a model for the remaining isolated markets, to be subsequently integrated. In this regulatory process, all the stake holders (power industry, TSO, regulators, consumers, related national and EU-bodies) must be involved, with a purpose to providing a practical input and thus, to minimize potential frictions, during the implementation phase; 3) The grid development in Europe is the key challenge to promote more competition and in particular, to accommodate the targeted 20% of electricity increases from renewable energy sources, by 2020. For this purpose, what ENTSO is preparing for the grid development and extension by 2020 is of primary importance. Crucial for the success of this plan will be how efficient would be the

  13. German energy market 2014; Deutscher Energiemarkt 2014

    Energy Technology Data Exchange (ETDEWEB)

    Schiffer, Hans-Wilhelm [World Energy Council, London (United Kingdom). World Energy Resources; Weltenergierat - Deutschland, Berlin (Germany). Arbeitsgruppe ' Energie fuer Deutschland'

    2015-03-15

    In 2014 the German government's primary goal of engaging German power suppliers to step up their production of renewable energy while speeding up energy efficiency improvement measures continued to dominate the debate. The present article provides an updated overview of the German energy market. Following on from last year's edition it gives a condensed synopsis of key indicators of the energy economy. Besides summarising general facts about the energy mix it goes into detail about the following individual energy resources: crude oil, natural gas, brown coal, hard coal, nuclear energy and renewable energies. It also explains current price trends in both the international and domestic markets.

  14. 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

  15. Marketing and selling solar energy equipment

    International Nuclear Information System (INIS)

    Book, Tony

    1999-01-01

    The literature on creating consumer awareness and acceptance of solar water heating systems for marketing purposes is sparse. This paper discusses some of the sophisticated marketing techniques available and some results. Selling solar water heating systems in Northern European latitudes requires a degree of persistence and commitment that is probably not required in what are regarded as the 'sunny climes' around the Mediterranean., the Middle East, Africa, South East Asia and Australia. (Author)

  16. The market of natural gas for the power plant sector under the obligation of CO{sub 2} reduction. A model supported analysis of the European energy market; Der Erdgasmarkt fuer den Kraftwerkssektor unter CO{sub 2}-Minderungsverpflichtungen. Eine modellgestuetzte Analyse des europaeischen Energiemarktes

    Energy Technology Data Exchange (ETDEWEB)

    Perlwitz, Holger

    2007-02-12

    The contribution under consideration describes the development of a certificate market model for natural gas, electricity and carbon dioxide for the analysis of the significance of the natural gas market for power stations under the obligation of the reduction of carbon dioxide. The author of this contribution develops the integrated PERSEUS EEM model. Thus, strategic questions in the European energy sector can be analyzed quantitatively by means of the multi periodical linear optimization. Russia, Algeria and Norway dominate in the offer of natural gas in Europe. The use of gas-fired power stations is the most important strategy for the reduction of the emissions of carbon dioxide. The comparison of the generation of current from natural gas for the scenario EuETS with the scenario NoETS shows a higher generation of electricity from natural gas in the scenario EuETS. Within the time period of consideration, France, Great Britain, Poland and Czech Republic are the largest supplier of CO{sub 2} emission trading in the scenario EuETS. With this model, substantial fundamental connections of the markets for natural gas, electricity and CO{sub 2} certificate could be analyzed simultaneously for the first time.

  17. Energy Choices. The energy markets and the energy policy choices

    International Nuclear Information System (INIS)

    Bergman, Lars; Lindh, Hampus

    2009-03-01

    Well-functioning energy markets are in society's interests whatever the circumstances. Furthermore, supply, demand and the competitive situation in the various energy markets influence the effect of energy and climate change policy measures. There are therefore good reasons to examine and evaluate how the energy markets operate. In this report we specifically focus on the energy markets. The analysis has been carried out against the background of the overall objectives for energy and climate change policy in Sweden and the EU. However, for these goals to be attainable a number of concrete energy and climate change policy decisions will have to be taken in the coming years. Some of these are key issues that will prove decisive for the formulation of energy and climate change policy, and we therefore also discuss these. The first of these concerns which policy instruments should be chosen to influence the energy markets. The second key issue concerns the power companies' prospects for using nuclear power even in the future. We will also focus on the extent to which energy and climate change policy chooses to prioritise measures which mean that climate change policy objectives can be achieved at the lowest possible cost. We can briefly summarize our results in the following conclusions: The cost of achieving the climate change policy objectives set by Sweden and the EU will probably be very high. It is therefore important that the choices made ensure that climate change policy objectives are achieved at the lowest possible cost. Focusing on keeping costs to a minimum may in actual fact be the very thing that makes it at all possible to achieve these goals. The best solution then is as far as possible to base energy and climate change policy on so-called market-based instruments, such as emission charges and tradable emission permits. Emissions of carbon dioxide are easy to measure and the siting of emission sources is irrelevant in terms of the effect of the emissions

  18. Power marketing and renewable energy

    International Nuclear Information System (INIS)

    Fang, J.M.

    1997-01-01

    Power marketing refers to wholesale and retail transactions of electric power made by companies other than public power entities and the regulated utilities that own the generation and distribution lines. The growth in power marketing has been a major development in the electric power industry during the last few years, and power marketers are expected to realize even more market opportunities as electric industry deregulation proceeds from wholesale competition to retail competition. This Topical Issues Brief examines the nature of the power marketing business and its relationship with renewable power. The information presented is based on interviews conducted with nine power marketing companies, which accounted for almost 54% of total power sales by power marketers in 1995. These interviews provided information on various viewpoints of power marketers, their experience with renewables, and their respective outlooks for including renewables in their resource portfolios. Some basic differences exist between wholesale and retail competition that should be recognized when discussing power marketing and renewable power. At the wholesale level, the majority of power marketers stress the commodity nature of electricity. The primary criteria for developing resource portfolios are the same as those of their wholesale customers: the cost and reliability of power supplies. At the retail level, electricity may be viewed as a product that includes value-added characteristics or services determined by customer preferences

  19. The bumpy road of liberalisation of the Dutch Energy Market. Expectations versus the hardships of reality

    International Nuclear Information System (INIS)

    Mik, M.R.

    2006-07-01

    In June 2006 a study was finalized on the Liberalisation of the Dutch Energy Market. The European Commission decided to liberalise the European energy industry, the Netherlands taking the lead. The Dutch electricity and natural gas industries fell prey to a bumpy road of liberalization; initial expectations have proven to be overly optimistic

  20. 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)

  1. 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)

  2. 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)

  3. 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)

  4. Political and economic heritage of postcommunist Europe and energy market

    International Nuclear Information System (INIS)

    Sander, M.

    1999-01-01

    Transition countries include a group of countries with similar political, economic and social problems that signify the period after the end of the cold war and the fall of Communism. The paper presents the characteristics of the European Communist countries before and after the fall of the iron curtain, which influenced the transition process toward market economy. The centralist (Russian) economy model had enormous advantages at the beginning, particularly in the energy sector, owing to unlimited consumption of blood, sweat and tears during the construction of major power plants. The bureaucratic system executed ruthless expropriation of land and the existing power system, neglecting the environment and human health and even disregarding the feasibility of new power plants. The market creation and particularly the creation of an energy market, under which we understand selling and buying of all forms of energy, fuels, power plants' equipment and capital for energy sector, asks for a series of tasks from the Eastern European countries. They must accept market rules, standards of highly industrialised western countries and achievements in parliamentary democracy as the canon of behaviour in democracy. Setting up a legal infrastructure for the private sector, devising a taxation system, determining ownership rights, stabilising the macro economy in the sense of managing the government budget so as to avoid an excessive fiscal deficit, and stabilising monetary policy are primary tasks of the transition countries. The paper particularly reviews the tasks specifically related to the energy sector and analyses the problems taking into account national strategic interests. (author)

  5. MARKETING MIX IN OLTENIA ENERGY COMPLEX

    Directory of Open Access Journals (Sweden)

    Păunescu Alberto Nicolae

    2012-12-01

    Full Text Available Electricity generation in Romania it’s realized in percentage 30 % in OLTENIA ENERGY COMPLEX. This is the biggest producer of energy, end coal in the country. Therefore Marketing mix is very important to ensure that the company grows. The final objective is that the volume of sales, market share and growth.

  6. NATGAS. A Model of the European Natural Gas Market

    International Nuclear Information System (INIS)

    Mulder, M; Zwart, G.

    2006-02-01

    The NATural GAS model is an integrated model of the European wholesale gas market providing long-run projections of supply, transport, storage and consumption patterns in the model region, aggregated in 5-year periods, distinguishing two seasons (winter and summer). Model results include levels of investment in the various branches, output and consumption, depletion of reserves and price levels. The NATGAS model computes long-term effects of policy measures on future gas production and gas prices in Europe. NATGAS is an equilibrium model describing behaviour of gas producers, investors in infrastructure (pipeline, LNG capacity, as well as storage), traders and consumers. NATGAS covers the main European demand regions, including the United Kingdom, Germany, the Netherlands and Italy. Moreover, it covers the main origins of supply on the European market, such as Russia, Norway, Algeria, the Netherlands, the United Kingdom and LNG. In this memorandum, we first discuss the theoretical background as well as the model specifications. Afterwards, we describe the data we used, present some results and assess validity by computing sensitivities and comparing with current developments

  7. European Integration, Labour Market Dynamics and Migration Flows

    Directory of Open Access Journals (Sweden)

    Martinoia, Michela

    2011-06-01

    Full Text Available The paper has two objectives. Firstly, we wish to evaluate whether a greater economic integration has effects, and of what type, on migration flows from Central and Eastern Europe (New Member States of the EU, NMS towards the fifteen countries of the European Union (EU-15. Secondly, we wish to understand what effect the migration flows from the NMS have on the labour market of the receiving countries in the EU-15. The most suitable theoretical context that seems to summarise European labour market characteristics is that of the insider/outsider model by Layard, Nickell and Jackman (Layard et al., 1991. We have modified the above mentioned model by introducing two innovations. Firstly, we constructed three measures that act as a proxy for economic integration: the Intra Regional Trade Index (IRTI, Global Trade Index (GTI and Financial Market Integration (FMI. Then we placed the three indicators into the insider/outsider model to arrive at a modified version of Layard, Nickell and Jackman (Layard et al., 1991. The second innovative contribution was the introduction of an equation modelling migration flows. The creation of this equation is inspired by the neo-classical approach to migration theory (Harris-Todaro, 1970. The theoretical model, based on rational expectations, has been solved to find the equilibrium solution and the impact multipliers. We then carried out an empirical analysis, which involved estimating a Structural Vector Autoregression Model (SVAR. The aim of this estimation was to evaluate, on the one hand, the effect that greater European integration (a positive shock to the integration indicators has on migration flows, and, on the other, to measure the type of effect that migration flows could have on the labour market of the EU-15 countries, considered as a single entity. The results of our empirical evidence show that economic integration does generate significant effects on migration flows from the enlargement countries

  8. HOUSING MARKETS IN SELECTED EUROPEAN COUNTRIES AND THE USA

    Directory of Open Access Journals (Sweden)

    Magdalena Gostkowska-Drzewicka

    2012-04-01

    Full Text Available The aim of this article is to present the changes taking place in housing markets in selected European countries and in the USA. The basic research period covers the years 1998-2009. However, wherever availability of data allowed so, we covered with our research also the years 1963-2010. The development of domestic housing markets is determined both by specific features of local markets and by macroeconomic factors influencing the economic situation. The availability of capital to finance investment is of primary importance for the changes taking place in housing markets. This factor can be expressed by the volume of mortgage debt related to GDP and inflation and the level of interest rates on mortgage loans. The evaluation of the changes occurring in domestic housing markets was based on the identification of such structural characteristics as: the volume of the housing stock, the number of ready-to-use flats, the number of issued building permits, the indices of housing prices, and the number of transactions concerning purchase of flats or houses.

  9. On Chaotic Nature of the 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 deterministic chaos in the forex markets of select European countries namely Bulgaria, Croatia, Czech Republic, Hungary Poland, Romania, Russia, Slovakia and Slovenia. Monthly NEER data ranging from jan-1994 to Dec-2013 is used for the purpose of analysis. A two step methodology is employed where in the first step, non-linear dependence structure in the underlying time series is verified using BDS test. The results show that all the markets under study exhibit non-linear dependence. In the next stage, it is enquired whether this non-linear behavior is due to the presence of chaotic dynamics in the markets. This is achieved by estimating Lyapunov exponents for the time series under analysis. An EGARCH (1, 1 filter is applied to see if the non-linearity could be explained by a GARCH process. From the Lyapunov exponent values, it is found that the GARCH process is unable to explain the forex markets behavior in a satisfying manner. It is concluded that the forex markets under study exhibit deterministic chaotic behavior.

  10. 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

  11. The competitiveness of Slovak foreign trade in the European market

    Directory of Open Access Journals (Sweden)

    Pavličková Viera

    2013-01-01

    Full Text Available The paper deals with the competitiveness of the Slovak Republic in its ability to succeed in foreign markets. It provides a complex view of Slovak foreign trade within the European Union using a sectoral classification of products. Several appropriate methods (Constant Market Share Analysis, Revealed Comparative Advantage, Michaely Index, and unit export and import values are applied to quantify the competitiveness of Slovak foreign trade and to identify the level and trend of its specialisation. The analysis uses the data provided by the Eurostat Comext database for the period 1999-2011. The results confirmed Slovakia as a former transition country to be a fast developing open economy. Its production is competitive in the European market, although mainly with prices. Labour- and capital-intensive commodities, along with the automotive industry, dominate Slovak foreign trade. Technology- and R&D-driven goods have a comparative disadvantage as a consequence of several factors, such as lack of innovation and creativity in the business sphere. A shift towards export of more sophisticated products would be beneficial in supporting long-term sustainable development; however, no significant change in Slovak commodity structure has occurred over the past years.

  12. Nuclear energy and the Green Paper of the European Commission 'An European strategy for sustainable, competitive and secure energy'

    International Nuclear Information System (INIS)

    Metes, Mircea

    2006-01-01

    At present the energy is for European Union officials an issue of top priority. In the beginning of 2006 the natural gas crisis between Russia and Ukraine remembered menacingly to the Europeans that energy supply of the continent depends decisively on importation from other geographic areas and that these importation raise risks of a great variety. In addition to the power problems, disastrous effects on the economy, human life and eco-systems appeared to have the climate changes produced by fossil fuel burning. Consequently, a common energetic policy of Europe should be targeted at three main objectives: sustainability, competitiveness and security of supply. Six directions of action were identified: 1. EU must finalize the construction of internal European gas and electricity market; 2. EU should ensure that its energy market guaranties the security of supply under a solidary policy of the member states; 3. It is necessary that a large debate to have place about different sources of energy including the problems of costs and impact on climatic change, security and supply competitiveness and sustainability; 4. EU should approach the climatic change issues in agreement with the objectives established at Lisbon conference aiming at placing EU in the forefront of technological and scientific progress; 5. A strategic plan concerning the energy technology; 6. A common foreign policy in the field of energy. It is worthy to stress that the present Green Paper of EU has a manifestly different position concerning the nuclear energy with respect to the prior Green Paper of November 2000. While, in 2000 the EU Commission viewed the nuclear energy as being 'in limbo', in the 2006 version the Commission declared the nuclear energy as the most important source of power in Europe without CO 2 emissions. It is stated that all the energy options should be kept open while the Europe states have the right to establish their own energy mix, which they consider optimal, and in which

  13. Liberalisation of the Dutch energy market

    International Nuclear Information System (INIS)

    Cace, J.; Zijlstra, G. J.

    2003-01-01

    The process of liberalisation of the Dutch energy market started in 1998 and will be completed in 2004 by opening the energy market to households and small enterprises. The fundaments of the open market are determined by the Electricity Law from 1998 and the Gas Law from 2000. The green electricity market was opened in July 2001 as a part of the environment protection package. A number of additional legal regulations, codes, procedures and agreements were developed in order to guarantee equal opportunities for all participants, create the market transparency, guarantee the continuity of supply and protect the consumer. These documents were developed by the 'Platform Versnelling Energieliberalisering', PVE (Platform for the acceleration of the liberalisation process). All relevant players from the energy market, including the major consumers, are represented in this advisory body. In the new market situation, the grid operators carry the essential responsibilities within the energy supply system. They are providing the technical security, registering the energy exchange through their grid and are generating the billing and the balance control information for suppliers and transport system operators respectively. The suppliers are the primary contact for the consumers. The complexity of the energy market liberalisation is aggravated by the difference in fundamental choices for the electricity and gas market. Electricity market is based on regulated third party access (TPA) and gas market is based on negotiated TPA. A lack of awareness of the necessity of an adequate information system appeared to be the most the most significant hurdle in establishing the open energy market. (author)

  14. Wind energy. Energy technologies in national, European and global perspective

    International Nuclear Information System (INIS)

    Hauge Madsen, P.; Bjerregaard, E.T.D.

    2002-01-01

    According to a recent study, global wind generating capacity increased by some 6800 MW in 2001, an annual growth of just over half the corresponding figure for 2000. 2001 was the third consecutive year in which new wind power capacity exceeded new nuclear power capacity, showing the maturity of wind power technology. Total installed wind power worldwide by the end of 2001 was close to 25.000 MW. Germany, Spain and Denmark are the main players, accounting for 56% of the world's capacity increase in 2001 and a total cumulative installed capacity of 14.750 MW, or 59% of the global total. The USA and India are also significant users of wind power; in 2001 the USA added 1700 MW of new installed capacity to become the world's second-largest market for wind power. The report Wind Force 10 outlines a scenario in which wind power provides 10% of the world's electricity by 2020, corresponding to a total installed capacity of 1200 GW. Risoe's System Analysis Department has looked at the possible future costs of electricity produced by wind turbines compared to conventional power. A learning curve analysis of historical data results in a progress ratio of 0,85. This means that for every doubling of the installed capacity, the cost of wind-generated electricity is reduced by 15%. Until recently the main driver for wind power has been a concern for greenhouse gases. Security of energy supply has now become an important issue, however, especially in Europe and the USA. Wind power plants can be erected at short notice and in a modular fashion that allows capacity to be added as required. The European Commission has supported wind power by sponsoring international research co-operation between institutes, universities and equipment manufacturers. The IEA supports worldwide co-operation, and has recently issued a report on the longterm R and D needs of wind energy. Denmark has, mainly financed by the Danish Energy Agency, taken part in the IEA's R and D Wind international co

  15. Wind energy. Energy technologies in national, European and global perspective

    Energy Technology Data Exchange (ETDEWEB)

    Hauge Madsen, P.; Bjerregaard, E.T.D. [Risoe National Lab., Wind Energy Dept., Roskilde (Denmark)

    2002-10-01

    According to a recent study, global wind generating capacity increased by some 6800 MW in 2001, an annual growth of just over half the corresponding figure for 2000. 2001 was the third consecutive year in which new wind power capacity exceeded new nuclear power capacity, showing the maturity of wind power technology. Total installed wind power worldwide by the end of 2001 was close to 25.000 MW. Germany, Spain and Denmark are the main players, accounting for 56% of the world's capacity increase in 2001 and a total cumulative installed capacity of 14.750 MW, or 59% of the global total. The USA and India are also significant users of wind power; in 2001 the USA added 1700 MW of new installed capacity to become the world's second-largest market for wind power. The report Wind Force 10 outlines a scenario in which wind power provides 10% of the world's electricity by 2020, corresponding to a total installed capacity of 1200 GW. Risoe's System Analysis Department has looked at the possible future costs of electricity produced by wind turbines compared to conventional power. A learning curve analysis of historical data results in a progress ratio of 0,85. This means that for every doubling of the installed capacity, the cost of wind-generated electricity is reduced by 15%. Until recently the main driver for wind power has been a concern for greenhouse gases. Security of energy supply has now become an important issue, however, especially in Europe and the USA. Wind power plants can be erected at short notice and in a modular fashion that allows capacity to be added as required. The European Commission has supported wind power by sponsoring international research co-operation between institutes, universities and equipment manufacturers. The IEA supports worldwide co-operation, and has recently issued a report on the longterm R and D needs of wind energy. Denmark has, mainly financed by the Danish Energy Agency, taken part in the IEA's R and D Wind

  16. Market survey China. Wind Energy

    International Nuclear Information System (INIS)

    2008-07-01

    The title survey presents an overview of the wind developments in China, an analysis of the key market players in this sector, and an assessment of the potential future market for wind-related activities in China. The survey is concluded with a number of conclusions and recommendations

  17. Dossier for marketing authorization in the European union

    Directory of Open Access Journals (Sweden)

    Maida Todić

    2003-02-01

    Full Text Available Extensive and complete documentation must be presented for marketing authorization of a medicinal product in the EU. Presented documentation should prove quality, safety and efficacy of the medicinal product. It is ensured that the applicant supplies the authorities with complete information. The legislation in Federation of Bosnia and Herzegovina has also taken more steps towards those European directions.The presentation and content of the dossier in the European Union has been redefined. The “old” EU format will be replaced with the Common Technical Document (EU CTD format agreed in 2000, within the International Conference on Harmonization framework. These two formats are intended to coexist during the transition period until July 2003. The CTD is an internationally agreed upon format for the preparation of a well structured presentation for applications to be submitted to regulatory authorities in the three ICH regions of Europe, US and Japan.

  18. Ownership Concentration and Market Value of European Banks

    DEFF Research Database (Denmark)

    Busta, Ildura; Sinani, Evis; Thomsen, Steen

    2014-01-01

    This paper investigates the relationship between ownership concentration and market value of European banks, and the role of the institutional environment in shaping this relationship. Using GMM dynamic estimator on a sample of European banks over a 13-year period (1993–2005) we find on average...... concentration is positive in Scandinavia. We propose that, besides the legal protection of small investors, the differences in the impact of ownership concentration across the countries could be due to the identity of the predominant owners, i.e. financial institutions in Germany and trusts and foundations...... a negative effect of ownership concentration on bank value, measured by Tobin's Q. However, this effect varies across different institutional settings; while higher ownership concentration results in a lower bank value particularly in the countries belonging to German legal family, the impact of ownership...

  19. Energy policy and European utilities' strategy: Lessons from the liberalisation and privatisation of the energy sector in Romania

    Energy Technology Data Exchange (ETDEWEB)

    Haar, Laura N., E-mail: laura.n.haar@mbs.ac.u [University of Manchester, Manchester Business School, Booth Street West, Manchester M15 6PB (United Kingdom); Marinescu, Nicolae, E-mail: marinescu@unitbv.r [Transylvania University of Brasov, Faculty of Economic Sciences, 29 Eroilor Bd, Brasov 500 036 (Romania)

    2011-05-15

    In the context of energy sector reforms pursued by Romanian government since 1990s, we compare and contrast the market outcomes of European utilities' investment with the host government policy objectives. We begin with energy market reform in Romania and review governments' efforts to attract foreign direct investment (FDI) and to gradually withdraw from the distribution and supply segments of electricity market. Subsequently, we illustrate the scope European utilities have had, market policy and design notwithstanding, for consolidating market power through regional dominance. We examine the extent to which these utilities have sought to enhance their positions through horizontal and vertical integration, counter to the EU plans for a competitive market structure. We find that the investments of European incumbents have not been resoundingly successful: although market entrance may have been justified on long-term strategic grounds, in the immediate term, segments acquired through competitive auctions have yielded modest regulated returns. Finally, we discuss the extent to which policy makers have achieved their goals. Although the short-term benefits of a competitive market structure have reached some consumers, a renewed interest in promoting 'national champions' reflect frustration with market mechanisms as a means of ensuring long-term strategic investments in the sector. - Research highlights: {yields} We analyze the European Utilities activities in Romania after market liberalization. {yields} We find government efforts to reform energy sector attracted foreign direct investment. {yields} We find utilities consolidated market power horizontally in Central European region. {yields} The short-term benefits of competitive forces contrast the weak returns by utilities. {yields} To encourage further investment, government should not promote national champions.

  20. Energy policy and European utilities' strategy: Lessons from the liberalisation and privatisation of the energy sector in Romania

    International Nuclear Information System (INIS)

    Haar, Laura N.; Marinescu, Nicolae

    2011-01-01

    In the context of energy sector reforms pursued by Romanian government since 1990s, we compare and contrast the market outcomes of European utilities' investment with the host government policy objectives. We begin with energy market reform in Romania and review governments' efforts to attract foreign direct investment (FDI) and to gradually withdraw from the distribution and supply segments of electricity market. Subsequently, we illustrate the scope European utilities have had, market policy and design notwithstanding, for consolidating market power through regional dominance. We examine the extent to which these utilities have sought to enhance their positions through horizontal and vertical integration, counter to the EU plans for a competitive market structure. We find that the investments of European incumbents have not been resoundingly successful: although market entrance may have been justified on long-term strategic grounds, in the immediate term, segments acquired through competitive auctions have yielded modest regulated returns. Finally, we discuss the extent to which policy makers have achieved their goals. Although the short-term benefits of a competitive market structure have reached some consumers, a renewed interest in promoting 'national champions' reflect frustration with market mechanisms as a means of ensuring long-term strategic investments in the sector. - Research highlights: → We analyze the European Utilities activities in Romania after market liberalization. → We find government efforts to reform energy sector attracted foreign direct investment. → We find utilities consolidated market power horizontally in Central European region. → The short-term benefits of competitive forces contrast the weak returns by utilities. → To encourage further investment, government should not promote national champions.

  1. Polskie Gornictwo Naftowe i Gazownictwo in a liberalized european market

    International Nuclear Information System (INIS)

    Kaminski, P.

    2004-01-01

    Polskie Gornictwo Naftowe i Gaxownictwo (PGNiG) is the leading operator in the Polish natural gas market. Following Poland's membership of the European Union, the company must now face up to the new challenges of a liberalized gas market. The firm is currently changing its organisational methods in order to adapt its company structure to the requirements of gas directive No. 2003/55/CE. In conformity with the European recommendations, the transportation activities have been separated off from the company structure. Work is being carried out in order to separate the company PGNiG Przesyl which is the operator of the transport system. Preparatory measures are underway in order to facilitate PGNiG's flotation on the stock market. A successful privatisation will enable the company to continue its expansion and to obtain the capital it needs to face up to its investment related expenditure. PGNiG aims to be a highly competitive company, not only in Poland but also in Europe. To achieve this, investments are being made aimed at boosting national gas extraction, which will make it possible to improve the company's competitiveness. The firm seeks to be a key player to discussions focusing on infrastructure for the transportation of natural gas towards Europe and is carrying out negotiations with partners concerning the construction of connections known as 'interconnections' between the gas pipeline systems of the respective European countries. The company's participation in the planned construction of the Bernau-Szczecin pipeline is similar in nature to the project for the delivery of compressed natural gas. (author)

  2. The need for regulation in energy markets

    International Nuclear Information System (INIS)

    De Sampaio Nunes, P.

    2002-01-01

    The following topics are discussed: The need for effective regulation; Energy issues requiring regulatory policy; Models adopted in different Member States of the European Union; Results achieved by Member States; Infrastructure. (R.P.)

  3. Education in Sustainable Energy by European Projects

    Science.gov (United States)

    Stanescu, Corina; Stefureac, Crina

    2010-05-01

    Our schools have been involved in several European projects having with the primary objective of educating the young generation to find ways for saving energy and for using the renewable energy. Small changes in our behaviour can lead to significant energy savings and a major reduction in emissions. In our presentation we will refer to three of them: - The Comenius 1 project "Energy in the Consumers' Hands" tried to improve the quality of education for democratic citizenship in all participant schools by creating a model of curricula concerning the integrative teaching of democratic citizenship using the topic approaches based on key concept - energy as important element of the community welfare. The students studied on the following topics: • Sources of energy • The clean use of fossil based resources; • The rational use of energyEnergy and the environment - The project "Solar Schools Forum" (SSF) focuses on environmental education in schools, in particular addressing the topics of Renewable Energy (RE) and Energy Efficiency (EE). The youth need to become more aware of energy-related problems, and how they can change their own lifestyles to limit environmental damage caused by the daily use of energy. As the decision-makers of tomorrow we need to empower them to make the right choices. The SSF is aimed at improving knowledge about RE and EE among children and young people, using a fun approach and aimed at generating greater enthusiasm for clean energy. The youth will also be encouraged to help raise awareness and so act as multipliers in their own communities, starting with their families and friends. As a result of this project we involved in developing and implementing an optional course for high school students within the Solar Schools Forum project. The optional course entitled "Sustainable energy and the environment" had a great deal of success, proof of this success being the fact that it is still taught even today, three years after its

  4. 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

  5. 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

  6. 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)

  7. 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

  8. Technology and labour market in the European Union

    Directory of Open Access Journals (Sweden)

    Andreea Burciu

    2017-05-01

    Full Text Available Nowadays, the digital economy represents the main engine of innovation, competitiveness and growth potential at European level, being a real opportunity for entrepreneurs and Small and Medium Enterprises (SMEs. The faster a company embraces technology, the more successful it can become. Technology dominates the present times more and more, preparing new and challenging horizons, leading the world to a new dimension, improving our lives in all the possible ways. Technology holds a real challenge for the labour market which, on the one hand, should adapt to the new pace imposed by computers and smart devices. On the other hand, there is an increasing and stringent demand of highly qualified personnel to get further the current “tech revolution”. In this context, it is interesting to study how the EU Member States have developed their infrastructure, education and which is the status of labour market in IT&C, using a cluster analysis applied on 2014 data obtained from Eurostat.

  9. Energy Technology and Market Risk Reduction | Integrated Energy Solutions |

    Science.gov (United States)

    renewable energy projects, including: Debt financing and structures that use cash flows generated by your ; project costs; and evolving regulatory, permitting, and retail markets through activities such as

  10. The Integration Role of European Defense Procurement in Achieving a More Competitive and Stronger European Defense Equipment Market

    Science.gov (United States)

    2015-06-01

    and systems, even monopolistic ) essence of the supply side of the defense market . There are only a few suppliers that can meet today’s complex...DEFENSE PROCUREMENT IN ACHIEVING A MORE COMPETITIVE AND STRONGER EUROPEAN DEFENSE EQUIPMENT MARKET by Kiril O. Angelov June 2015 Thesis Advisor...COMPETITIVE AND STRONGER EUROPEAN DEFENSE EQUIPMENT MARKET 5. FUNDING NUMBERS 6. AUTHOR(S) Kiril O. Angelov 7. PERFORMING ORGANIZATION NAME(S) AND

  11. The strategy of European energy utilities

    International Nuclear Information System (INIS)

    Blakey, S.; Kramer, M.; Sauquet, P.; Sire, D.; Venet, D.; Lenoir, J.

    2007-01-01

    After a relatively quiet period, the concentration movement in the energy sector is growing up again. What will be the limit of this dynamics? What will be tomorrow's European energy actors? Will it be a mix of big groups, medium-size and small companies with a specialized activity like today, or only big groups with multi-energy supply and production activities which will directly supply the end-users? What is the provisions foreseen by such groups to ensure the security of supplies? What are the synergies in terms of size and/or multi-energy offers? Five participants and a journalist have debated these questions at this round table. (J.S.)

  12. The internationalisation of the Spanish food industry: the home market effect and European market integration

    Energy Technology Data Exchange (ETDEWEB)

    Serrano, R.; García-Casarejos, N.; Gil-Pareja, S.; Llorca-Vivero, R.; Pinilla, V.

    2015-07-01

    The objective of this study was to analyse, from a long-term perspective, the factors determining the process of the internationalisation of the Spanish agrifood industry. The paper concentrates on the empirical verification of the existence of a home market effect in the food and drink industries in Spain and on the effects on trade flows of integration into the European Union. With this aim in mind, we took into account the latest contributions to the estimation of the gravity equation for a sample of export flows from 13 agrifood subsectors between 1970 and 2012, with a destination of 175 markets. From the results of the study the existence of the “home market effect” stands out as the determining factor of the increasing process of internationalisation in the majority of the subsectors of the food industry. On this point, the presence of this effect is remarkable in the most dynamic industries, where the process of restructuring caused by the development of the internal market was more intense. Furthermore, the influence of the process of European integration has been shown by the literature to be a very important factor. Our results qualify in part the results of previous studies, since the positive effect appeared later than expected. The positive effects did not appear until the completion of the process of transition by the dismantling of the barriers established in the treaty of accession to the European Union. (Author)

  13. The European framework for energy and climate policies

    International Nuclear Information System (INIS)

    Helm, Dieter

    2014-01-01

    European energy and climate change policy rests on two main pillars: the internal energy market (IEM), and the climate change package (CCP). The IEM aimed at third party access and unbundling, neglecting the physical infrastructure and the basis for asset valuations and hence the harmonisation of network charges. The Commission plans to complete the IEM by 2014—almost a quarter of a century after embarking on the policy. Yet even if all the IEM directives are implemented, the EU will remain far from a single competitive market. The CCP was grounded on short term targets (the 2020-20-20 programme) on the assumption that fossil fuel prices would rise, making renewables competitive, and hence yielding a competitive advantage to the EU. The EUETS was intended to lead the way to a global trading system and an international agreement at Copenhagen. The EU has reduced the production of carbon emissions, but only as a result of de-industrialisation and slow growth, and at the expense of rising carbon consumption. Renewables have not led to green growth, but rather to a further eroding of competitiveness. The EUETS price has collapsed. In order for the EU to put the IEM and the CCP back on track, both need to be radically reconsidered. The IEM requires a refocusing on physical infrastructure, common accounting rules and an EU-wide approach to capacity markets and renewables trading. The CCP requires a refocusing on carbon consumption, on limiting the dash-for-coal, and on future rather than current renewables. - Highlights: • The design of the internal energy market. • The design of the climate change package. • The interaction between the internal energy market and the climate change package. • Required reforms

  14. 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

  15. Renewable Energy Policies and Market Developments

    International Nuclear Information System (INIS)

    Van Dijk, A.L.; Beurskens, L.W.M.; Boots, M.G.; Kaal, M.B.T.; De Lange, T.J.; Van Sambeek, E.J.W.; Uyterlinde, M.A.

    2003-03-01

    Reviews and an analysis of the policy support for the stimulation of renewable electricity in the current energy market are presented, and an overview is given of the main new developments influencing the renewable energy market. The report is part of the analysis phase of the project REMAC 2000, which has led to the publication of a roadmap for the acceleration of the RE market. REMAC 2000 aims to promote a sustainable growth of the renewable energy market. For such a sustainable growth, important success factors are not only effectiveness of policy, but also security for investors, which is essential for building up a sector and developing the renewable energy market. Consistency of regulations and policies at different levels and between policy fields form a condition for security, as does the active involvement of market stakeholders. Further, the increasing role of trade within the energy and renewable energy sector leads to a priority for international coherence of policies and markets. To guarantee a sustainable growth of the renewable energy sector, a broad perspective of policy makers and planners is required- to include a long time frame, a comprehensive view of related policy fields and authorities involved, and an orientation that looks beyond national borders

  16. Heat Energy Markets: Trends of Spatial Organization

    Directory of Open Access Journals (Sweden)

    Olga Valeryevna Dyomina

    2016-12-01

    Full Text Available The author reviews competing forms of heat supply. It is shown that in Finland, Denmark, China and Russia the dominant form of heat supply is district heating system; in the United States and Canada the dominant form of heat supply is individual one. Using the countries’ data the author allocates 4 models of heat energy markets. The analysis is based on combinations of the following characteristics: the type of market, the orientation of market, the stage of market development, forms of state support of district heating systems and the approach to pricing. The results identified the failure of the current model of heat energy market in Russia (noncompetitive, manufacturer-oriented and evolved market with massive state support of its district heating system. The ‘target’ model of heat energy market in Russia is a model of noncompetitive, customer-oriented and evolved market with no state support of its district heating system. However, the ‘target’ model takes into account spatial heterogeneity of local heat energy markets in Russia only technically

  17. Energy market for energy. Natural gas and electricity

    International Nuclear Information System (INIS)

    Van Scherpenzeel, H.; De Boer, I.

    2000-10-01

    The aim of the title market study is to provide insight into the energy market in Argentina for the Dutch industry and business sector, focusing on the structure of the natural gas and electricity sector and the market for equipment for the production and processing of natural gas and equipment for electricity generation

  18. Liberalization of the energy market in the Republic of Bulgaria - the main priority of the SAEER

    International Nuclear Information System (INIS)

    Kovachev, M.

    2001-01-01

    The priorities in the policy of the Bulgarian State Agency of Energetics and Energy Regulation, taking into account the current situation in the country, are presented. The main topics, discussed are: 1) Development of a competitive energy market; 2) Harmonization of the legislation with the European Union; 3) Bringing investments into the energetics and privatization; 4) Energy supply at minimal expenses; 5) Energy efficiency; 6) Encouraging of the use of renewable energy sources; 7) Integration of the Bulgarian and European energy market; Assurance of nuclear safety and the safe management of radioactive waste and spent fuel

  19. Energy security: between markets and sovereign politics

    Directory of Open Access Journals (Sweden)

    Dudau Radu

    2016-09-01

    Full Text Available Energy security is a constant presence in the energy-related political discourse all over the world. States strive to secure steady inflows of needed energy supplies, as well as the price affordability of those supplies. However, what are deemed to be the best means to meet such goals depends on one’s theoretical vantage point. On the one hand, economically-minded theorists maintain that energy security is only a matter of market rules and interactions. Thus, they call upon energy markets to deliver both steady supplies and competitive prices. On the other hand, politically-minded scholars emphasize the political and hard-power nature of international energy trades, especially in a global context market by the emergence of state-centered, authoritarian regimes that use large national energy companies as foreign policy instruments. These two positions delineate competing approaches to how energy security risks ought to be managed. The former approaches energy security risks by means similar to portfolio management, requiring diversification of investments in order to insulate them from market shocks. The latter approaches energy security as a matter of foreign policy, by which states envisage interest coordination and favorable alignments within countervailing alliances against the agent of energy security risk. The present paper goes beyond the uncontentious point that these two dimensions are complementary. It argues that, depending on the international context, a more market-driven or a more-politically driven behavior may be adequate.

  20. European moves to a communal energy policy

    International Nuclear Information System (INIS)

    Klijs, K.

    1978-01-01

    The author has endeavoured to discover whether there is talk of a communal energy policy in the EEC and if so how far are the developments, on what foundation is the policy based and what factors are hindering its realisation. It is concluded that as yet there is scarely any talk of a communual energy policy within the activities of the EEC, although the growing dependence on oil imports is seen as a reason to discuss this policy. The main aim of such a policy is to reduce oil imports from 61% of energy sources in 1973 to 30% in 1985, since the oil from Arab lands is seen as a totally unreliable energy source. A very strong development in nuclear energy is seen as a means of reducing oil imports. The failure of a European energy policy cannot be blamed on the different conceptions of the member states. The choice against oil imports and for nuclear energy is general, and each member is initially trying to make the national energy provision safe. (C.F.)

  1. Implementation of the Third Energy Package and Renewable Energy Sources on Croatian Liberalised Market

    International Nuclear Information System (INIS)

    Toljan, I.

    2016-01-01

    The Croatian Third Energy Package was adopted in 2012 and its implementation in the previous period until today has accelerated changes in all areas of Croatian energy sector. The content of The EU's Third Energy Package was made in two directives and three regulations. Directives are implemented into national legislation of EU Member States (they choose the methods). Regulations are implemented directly in the entire EU. The main goal is to establish a unique electricity and gas market with market prices (or lower) and high safety and public service standards. Croatia began with incentives for generation from renewable energy sources in 2004 and by the end of this year, the first contract in that system (wind power plant Ravne on Pag island) will end. The question that presents itself is where and how will the owner sell electricity from now on. Current market suppliers as well as the new organisation in Croatian energy sector, Croatian Power Exchange, are both realistic options. Balancing market led by Croatian TSO is becoming bigger and participates in the business because of the higher amount of installed power connected to the power grid (mostly wind power plants). Can Croatian Transmission Operator still guarantee safe operational planning as before (the last blackout happened 10 years ago)? The existing electricity and gas market design doesn't satisfy its participants any more so an adjustment to new facts of a free market is necessary (power exchange, no more stimulations for renewable sources). What changes should be made in legislation so that the free market can develop and be harmonised with the European market? Decarbonization and digitalisation are a base of European energy policy but they are still waiting for a wider and stronger application in Croatia, is the current legislation enough? With these analysis the paper contributes to the learnings about the implementation of The Third Energy Package in Croatia and a unique energy policy in the EU.(author).

  2. The price of energy efficiency in the Spanish housing market

    International Nuclear Information System (INIS)

    Ayala, Amaia de; Galarraga, Ibon; Spadaro, Joseph V.

    2016-01-01

    The housing sector is a substantial consumer of energy, and therefore a focus for energy savings efforts. The Energy Performance of Buildings Directive (EPBD), introduced in 2002 and revised in 2010, is a key instrument to increase the energy performance of buildings across the European Union. Following the implementation of the EPBD into Spanish law, all properties offered for sale or rented out in Spain are required to have an Energy Performance Certificate (EPC). Given that the implementation of the EPC scheme for new, existing and advertised properties is still very low in Spain, unlike other European housing markets, the Spanish one lacks market data on energy efficiency (EE) labels and their impact on housing price. To overcome this gap, we determine the EE ratings of a sample of 1507 homes across Spain on the basis of information collected previously through household surveys. This allowed us to answer the question of whether or not, and to what extent, Spanish housing markets capitalise the value of EE. We apply the hedonic-price technique and observe that more energy efficient dwellings have a price-premium between 5.4% and 9.8% compared to those with the same characteristics but lower EE level. - Highlights: •The Spanish housing market lacks data on energy efficiency (EE) labels. •We determine the EE ratings of a sample of 1507 homes across Spain. •Homes labelled A, B and C account for less than 10% of the housing stock. •Energy efficient dwellings have a price-premium between 5.4% and 9.8%, ceteris paribus.

  3. Speculative and hedging activities in the European carbon market

    International Nuclear Information System (INIS)

    Lucia, Julio J.; Mansanet-Bataller, Maria; Pardo, Ángel

    2015-01-01

    We explore the dynamics of the speculative and hedging activities in European futures carbon markets by using volume and open interest data. A comparison of the three phases in the European Union Emission Trading Scheme (EU ETS) reveals that (i) Phase II of the EU ETS seems to be the most speculative phase to date and (ii) the highest degree of speculative activity for every single phase occurs at the moment of listing the contracts for the first time. A seasonality analysis identifies a higher level of speculation in the first quarter of each year, related to the schedule of deadlines of the EU ETS. In addition, a time series analysis confirms that most of the speculative activity each year occurs in the front contract, whereas the hedging demand concentrates in the second-to-deliver futures contract. -- Highlights: •This study explores the evolution of speculative and hedging activities in futures carbon markets by using volume and open interest data. •Phase II of the EU ETS seems to be the most speculative phase to date. •A seasonality analysis identifies a higher level of speculation in the first quarter of each year. •Most of the speculative activity occurs in the front contract. •The hedging demand concentrates in the second-to-deliver futures contract

  4. The market potential for solar heating plants in some European countries

    Energy Technology Data Exchange (ETDEWEB)

    Zinko, H; Bjaerklev, J.; Margen, P. [ZW Energiteknik AB, Nykoeping (Sweden)

    1996-03-01

    This study evaluates the market potential for solar collectors for residential heating in six European countries: Sweden, Denmark, Germany, Netherlands, Italy and Greece. The study is based on statistical information about the population, buildings, energy consumption and climatic conditions in the respective regions. The market potential was determined for systems supplying hot water and space heating in small houses and multi family houses, as well as for central block heating and district heating systems. Only systems with diurnal storage were taken into account. The technical potential was derived by analyzing the available roof areas, making allowance construction obstacles, unfavourable orientation, shadowing etc. Furthermore, commercial considerations, such as cost of competing energy sources, e.g. cogeneration and other low cost sources were considered. In accordance with our expectations, we assumed that the solar costs will decrease by 30 to 50% and that the market will increase by 30%/year during the next ten years, due to growing energy prices and by public financial support in an initial phase. It was found that there exists a commercial solar energy market in Greece for small systems and that the market could be nearly commercial in Italy. In the other countries the market must be stimulated by subsidies in order to take off. The total net potential for solar collectors in the six countries was found to about 100 Mm{sup 2} for small systems, and 60 Mm{sup 2} for large systems, corresponding to about 70 TWh/year. In a rough estimate we can say that the net solar collector market potential is about 1 m{sup 2}/inhabitant in north and central Europe, and 0.5m{sup 2} in south Europe. Although systems for seasonal storage were not included in our analysis, it is probable that these systems will increase the net market potential by a factor of 2-3. 9 refs

  5. The market potential for solar heating plants in some European countries

    International Nuclear Information System (INIS)

    Zinko, H.; Bjaerklev, J.; Margen, P.

    1996-03-01

    This study evaluates the market potential for solar collectors for residential heating in six European countries: Sweden, Denmark, Germany, Netherlands, Italy and Greece. The study is based on statistical information about the population, buildings, energy consumption and climatic conditions in the respective regions. The market potential was determined for systems supplying hot water and space heating in small houses and multi family houses, as well as for central block heating and district heating systems. Only systems with diurnal storage were taken into account. The technical potential was derived by analyzing the available roof areas, making allowance construction obstacles, unfavourable orientation, shadowing etc. Furthermore, commercial considerations, such as cost of competing energy sources, e.g. cogeneration and other low cost sources were considered. In accordance with our expectations, we assumed that the solar costs will decrease by 30 to 50% and that the market will increase by 30%/year during the next ten years, due to growing energy prices and by public financial support in an initial phase. It was found that there exists a commercial solar energy market in Greece for small systems and that the market could be nearly commercial in Italy. In the other countries the market must be stimulated by subsidies in order to take off. The total net potential for solar collectors in the six countries was found to about 100 Mm 2 for small systems, and 60 Mm 2 for large systems, corresponding to about 70 TWh/year. In a rough estimate we can say that the net solar collector market potential is about 1 m 2 /inhabitant in north and central Europe, and 0.5m 2 in south Europe. Although systems for seasonal storage were not included in our analysis, it is probable that these systems will increase the net market potential by a factor of 2-3. 9 refs

  6. The role of Liquefied Natural Gas (LNG) in the European gas market

    International Nuclear Information System (INIS)

    Mahan, A.

    2003-06-01

    LNG market is vibrant, offers considerable prospects for growth, and could contribute to meeting the EU's growing demand for gas. However, possibly even more so than for pipeline supplies, prospective LNG supply sources have alternative markets. Competition for supplies will drive part of the market. The US gas market, in particular, with its growing need for gas imports, could become a major magnet for LNG, in direct competition with the European market. Failure to recognise this in European energy and regulatory policies could limit Europe's ability to secure this gas for its own markets

  7. Forward projections of energy market competitiveness rankings

    International Nuclear Information System (INIS)

    2008-01-01

    By July 2007, the provisions of the second Internal Market Directives for Electricity and Gas had been implemented in the majority of EU Member States. These fundamental changes in market opening, ownership structures and network access conditions, together with the increasing maturity of liberalised trading and retail markets, can be expected to affect the behaviour of existing and potential market participants, consequently affecting the energy market competitiveness of alternative countries. While the UK was the most competitive of the EU and G7 energy markets in 2006, the dynamic effect of the liberalisation programme across Continental Europe may challenge that position in the future. This report assesses how competitiveness rankings may evolve in the future, identifying changes that could take place in the UK and the rest of the EU from 2007 to 201 1. It goes on to explore the potential risk that the competitiveness of the UK's energy markets will decline relative to those of other countries in the EU and G7, to the extent that the PSA target will not be met. A detailed analysis of the potential changes in the UK markets is undertaken, including the development of upside and downside scenarios showing the positive and negative effects of changes in market structure and behaviour on the UK's competitiveness score. Changes in market structures required for energy markets in both the 2006 comparator group and the rest of the EU to become as competitive as the UK are then assessed, along with the plausibility of these changes given the current and future market, legislative and regulatory environments

  8. Promoting healthy competition across the energy market

    International Nuclear Information System (INIS)

    Anon.

    2001-01-01

    As of August 1 last year, Finland's Electricity Market Authority became the Energy Market Authority. The timing of the change coincided with the introduction of Finland's new Natural Gas Market Act and reflected the extension of the Authority's responsibility to cover promoting healthy and efficient competition on both the electricity and natural gas market and to secure reasonable and equitable service principles in the operations of both networks. The Electricity Market Authority began operations in mid-1995 as an expert body subordinate to the Ministry of Trade and industry when Finland's Electricity Market Act came into force, bringing with it a phased opening-up of the Finnish electricity market. The principle task of the Authority was, and remains, to supervise the pricing of transmission, distribution, and other network services, and to ensure a healthy level of competition

  9. Evolution of gas markets and energy security

    Energy Technology Data Exchange (ETDEWEB)

    Mitrova, Tatiana

    2007-07-01

    Questions of energy security and international gas trade became indissolubly connected during the last years. Paradoxically during the evolution of natural gas markets concerns about security issues in gas trade are only growing at the same time as transaction costs. Market participants have developed several mechanisms of adaptation (vertical integration, mutual penetration of capital and long-term contracts) which should be regarded not as a market failure but as an essential part of energy security guarantees at the moment. Further gas market evolution will demand more unified institutional framework to decrease threats to energy security and transaction costs. But this framework should be a result of mutual compromise of all market participants. (auth)

  10. On The Economics of Energy Labels in the Housing Market

    Energy Technology Data Exchange (ETDEWEB)

    Brounen, D. [Erasmus University, Rotterdam (Netherlands); Kok, N. [Maastricht University, Maastricht (Netherlands)

    2010-08-15

    The residential housing market can play an important role in the reduction of global carbon emissions. This paper reports the first evidence on the market adoption and economic implications of energy performance certificates implemented by the European Union. The results show that adoption rates are low and declining over time, coinciding with negative sentiment regarding the label in the popular media. Labels are clustered among smaller, post-war homes in neighborhoods with more difficult selling conditions. We also document that the adoption rates of energy labels have a positive relation to the number of 'green' voters during the 2006 national elections. Within the sample of labeled homes, the energy label creates transparency in the energy performance of dwellings. Our analysis shows that consumers capitalize this information into the price of their prospective homes.

  11. MULTIFRACTAL STRUCTURE OF CENTRAL AND EASTERN EUROPEAN FOREIGN EXCHANGE MARKETS

    Directory of Open Access Journals (Sweden)

    Cn#259;pun#351;an Rn#259;zvan

    2012-07-01

    Full Text Available It is well known that empirical data coming from financial markets, like stock market indices, commodities, interest rates, traded volumes and foreign exchange rates have a multifractal structure. Multifractals were introduced in the field of economics to surpass the shortcomings of classical models like the fractional Brownian motion or GARCH processes. In this paper we investigate the multifractal behavior of Central and Eastern European foreign exchange rates, namely the Czech koruna, Croatian kuna, Hungarian forint, Polish zlot, Romanian leu and Russian rouble with respect to euro from January 13, 2000 to February 29, 2012. The dynamics of exchange rates is of interest for investors and traders, monetary and fiscal authorities, economic agents or policy makers. The exchange rate movements affect the international balance of payments, trade flows, and allocation of the resources in national and international economy. The empirical results from the multifractal detrending fluctuation analysis algorithm show that the six exchange rate series analysed display significant multifractality. Moreover, generating shuffled and surrogate time series, we analyze the sources of multifractality, long-range correlations and heavy-tailed distributions, and we find that this multifractal behavior can be mainly attributed to the latter. Finally, we propose a foreign exchange market inefficiency ranking by considering the multifractality degree as a measure of inefficiency. The regulators, through policy instruments, aim to improve the informational inefficiency of the markets, to reduce the associated risks and to ensure economic stabilization. Evaluation of the degree of information efficiency of foreign exchange markets, for Central and Eastern Europe countries, is important to assess to what extent these countries are prepared for the transition towards fully monetary integration. The weak form efficiency implies that the past exchange rates cannot help to

  12. THE IMPACT OF ACCESSION TO THE EUROPEAN UNION ON THE ROMANIAN CAPITAL MARKET

    OpenAIRE

    Dragoş Mînjină; Andrei Stănculescu

    2007-01-01

    The accession to the European Union has had a significant impact on the Romanian capital market. In this paper are presented some aspects of the capital market which are influenced by the mentioned event, such as a harmonized legislation with EU legislation and restructured capital market architecture. In order to synthesize the accession effect on the Romanian capital market, we have analyzed the specific market indicators (such as market value, turnover, market indexes etc.), computed for t...

  13. Legal Framework of Renewable Energy Sources in the European Union

    OpenAIRE

    Milto, Yuliya

    2017-01-01

    The thesis analyses the following issues: historical development of energy and renewable energy sources legislation in the European Economic Community (EEC): the role of energy crisis of 1973 – 1974 in development of renewable energy legislation; international cooperation in the field of energy and renewable energy between EEC and third countries and membership of the EEC in international energy organizations dealing with energy; the European Union renewable energy policy and legal fra...

  14. Strategies of enterprises facing european natural gas market

    International Nuclear Information System (INIS)

    Chevalier, J.M.

    1992-01-01

    The growing demand for natural gas in Europe is taking place within a gradual process of deregulation aiming to achieve a single energy market. Gas industry's traditional structure and behaviour are facing new forms of competition. Gas producers might be willing to capture a greater share of downstream profits while large users are interested in securing their supply at the cheapest cost. In addition, new comers could appear at all stages of the industry, that are becoming contestable markets. Challengers and defenders will probably induce important changes in industry's present structure. 11 refs., 1 fig., 3 tabs

  15. Trends and changes in the European energy situation

    International Nuclear Information System (INIS)

    Adam, G.

    1994-01-01

    The conference paper gives a summary of the energy policy in Europe with the focus on trends and changes in the energy situation. Aspects discussed in this paper are energy and society, energy demand, policy issues, the European response, and the European Energy Charter

  16. UK market for waste-to-energy

    International Nuclear Information System (INIS)

    Arthur, D.

    1993-01-01

    In this paper four key questions relating to the UK market for waste-to-energy have been addressed. (1) What has happened in the market place over the last 20 years? (2) What are the driving forces behind the recent upsurge of interest? (3) What are the problems currently facing us? (4) What is the outlook likely to be for the future? (author)

  17. Renewable energy markets in developing countries

    DEFF Research Database (Denmark)

    Martinot, E.; Chaurey, A.; Lew, D.

    2002-01-01

    Renewable energy is shifting from the fringe to the mainstream of sustainable development. Past donor efforts achieved modest results but often were not sustained or replicated, which leads now to greater market orientation. Markets for rural household lighting with solar home systems, biogas...

  18. Renewable energy investment: Policy and market impacts

    International Nuclear Information System (INIS)

    Reuter, Wolf Heinrich; Szolgayová, Jana; Fuss, Sabine; Obersteiner, Michael

    2012-01-01

    Highlights: ► Feedback of decisions to the market: large companies can have an impact on prices in the market. ► Multiple uncertainties: analysis of uncertainties emanating from both markets and environment. ► Policy analysis: impact of uncertainty about the durability of feed-in tariffs. -- Abstract: The liberalization of electricity markets in recent years has enhanced competition among power-generating firms facing uncertain decisions of competitors and thus uncertain prices. At the same time, promoting renewable energy has been a key ingredient in energy policy seeking to de-carbonize the energy mix. Public incentives for companies to invest in renewable technologies range from feed-in tariffs, to investment subsidies, tax credits, portfolio requirements and certificate systems. We use a real options model in discrete time with lumpy multiple investments to analyze the decisions of an electricity producer to invest into new power generating capacity, to select the type of technology and to optimize its operation under price uncertainty and with market effects. We account for both the specific characteristics of renewables and the market effects of investment decisions. The prices are determined endogenously by the supply of electricity in the market and by exogenous electricity price uncertainty. The framework is used to analyze energy policy, as well as the reaction of producers to uncertainty in the political and regulatory framework. In this way, we are able to compare different policies to foster investment into renewables and analyze their impacts on the market.

  19. Characteristics of the Romanian energy market

    Science.gov (United States)

    Stet, M.

    2017-05-01

    This paper highlights the main characteristics of the energy market in Romania. Starting from the mode of organization and operation of the electricity market, there are revealed prices and tariffs for electricity for different categories of customers and their evolution in time. There are pointed also ways of setting electricity prices and tariffs, taking into account the expenditures actually recorded by economic operators.

  20. Innovation in the European energy sector and regulatory responses to it : Guest editorial note

    NARCIS (Netherlands)

    Hoppe, T.; Butenko, Anna; Heldeweg, Michiel

    2018-01-01

    The European energy sector is an important economic sector that is also traditionally highly regulated. With the increasing tempo in which innovations in technology and markets occur, catalysed inter alia by the energy transition and accompanied by new formats of innovation (disruptive and