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

Energy Technology Data Exchange (ETDEWEB)

Schulke, Ch.

2010-07-01

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

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)

Increased competition on the supply side of the Western European natural gas market

International Nuclear Information System (INIS)

Golombek, R.; Gjelsvik, E.; Rosendahl, K.E.

1998-01-01

This paper analyzes how the supply side of the Western European natural gas market may react if the demand side becomes competitive. The authors show--using a numerical model of the Western European natural gas market--that once the demand side of the market is liberalized, each gas-producing country has an incentive to break up its gas sellers. The model therefore suggests that there may be numerous producers in a liberalized natural gas market. Hence, in a liberalized market consumers will not be exploited by suppliers

Baltic Pathways from Liberal Trade Model to Neo-Mercantilism in the European Union

Directory of Open Access Journals (Sweden)

Viljar Veebel

2015-09-01

Full Text Available The economic progress of the Baltic States after the restoration of independence has been closely related to the liberal ideology and values of their economies: openness to investments, simple tax system and low tax burden, liberal trade policy, and flexible labour market. Unlike the Baltic States, some of their main partners in the European Union (EU have focused on promoting their economic growth by the neo-mercantilist way of expanding exports, supported by the economic structure of these countries exporting high technology and capital goods. As a result, when the Baltic States are expecting that in a broader context the other eu member states share the same vision of the liberal market economy, their motives have not been fully understood among their regional trade and cooperation partners. Current study will debate whether the practical implementation and needs of the European neo-mercantilism meet the economic and social needs of the Baltic States. Additionally, the study focuses on the question whether in practice the Baltic countries should be ready for the European neo-mercantilist project in upcoming years.

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

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

International Nuclear Information System (INIS)

Boisseleau, F.; Hakvoort, R.

2005-01-01

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

Are households better off in liberalized electricity markets

DEFF Research Database (Denmark)

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

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

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

Competition ambiguities. Electricite de France and the electricity market liberalization

International Nuclear Information System (INIS)

Boiteux, M.

2007-04-01

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

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

Prices and tariffs in a liberalized electricity market

International Nuclear Information System (INIS)

Rijkers, F.; Wals, A.; Battjes, C.; Scheepers, M.

2000-01-01

First, it is described how prices and tariffs were determined before the introduction of the liberalization. Next, a brief overview is given of the transfer to the liberalized market and how the situation is on this market at present. Special attention is paid to the pricing of electricity in a free market, which is determined by competition between electricity producers in the Netherlands and abroad. Finally, a comparison is made between the expected prices and tariffs in a liberalized market and the prices before the liberalization

Effects of liberalizing the natural gas markets in Western Europe

Energy Technology Data Exchange (ETDEWEB)

Golombek, R [Stiftelsen for Samfunns- og Naeringslivsforskning, Oslo (Norway); Gjelsvik, E; Rosendahl, K E [Statistisk sentralbyraa, Oslo (Norway)

1994-08-01

The aim of this paper is to examine the impact of liberalization of the West-European natural gas markets within a numerical model. The authors study profit maximizing Cournot producers facing an ideal third party access for gas transport in Western Europe. In each country there are two types of end-users, small consumers in the residential, commercial and public sector and large users in the manufacturing industry and in the electric power supply. The analysis proceeds in stages. First the case where no traders exploit arbitrage possibilities and some producers have limited access to the markets is examined. In this equilibrium net prices differ across markets. These differences disappear in the second case where traders are introduced. The third case focuses on a complete European market for natural gas in which traders exploit all arbitrage possibilities and all producers are in a position to sell gas in all markets. The impact on the complete European market of changes in costs of production, costs of transport and costs of distribution is studied. Finally, the impact of banning gas sales consortia in Western Europe is studied. It is shown that this measure increases welfare in Western Europe, whereas profits to non-European producers decrease. 31 refs., 12 tabs.

Effects of liberalizing the natural gas markets in Western Europe

International Nuclear Information System (INIS)

Golombek, R.; Gjelsvik, E.; Rosendahl, K.E.

1994-01-01

The aim of this paper is to examine the impact of liberalization of the West-European natural gas markets within a numerical model. The authors study profit maximizing Cournot producers facing an ideal third party access for gas transport in Western Europe. In each country there are two types of end-users, small consumers in the residential, commercial and public sector and large users in the manufacturing industry and in the electric power supply. The analysis proceeds in stages. First the case where no traders exploit arbitrage possibilities and some producers have limited access to the markets is examined. In this equilibrium net prices differ across markets. These differences disappear in the second case where traders are introduced. The third case focuses on a complete European market for natural gas in which traders exploit all arbitrage possibilities and all producers are in a position to sell gas in all markets. The impact on the complete European market of changes in costs of production, costs of transport and costs of distribution is studied. Finally, the impact of banning gas sales consortia in Western Europe is studied. It is shown that this measure increases welfare in Western Europe, whereas profits to non-European producers decrease. 31 refs., 12 tabs

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

A critical look back over 15 years of the liberalization of the electricity markets

International Nuclear Information System (INIS)

Audigier, P.

2004-01-01

Various analyses are now available concerning the successes and woes of the policies for the liberalization of the electricity market implemented around the world for some 15 years. The author offers us an overview of these documents, focusing on the results obtained when considered in light of the arguments put forward by those favouring liberalization. The problems observed more recently in the liberalized markets have certainly had local causes. They nevertheless all have several things in common. Their attributes (non-storability, inelasticity of demand, etc.), have made the electron a raw material (commodity) such as the markets are not very efficient. Solutions can always be found, but these solutions, each more ingenious than the last, all have a price. This is particularly the case for the household market segment, with the paradox here being that it is precisely at the very moment when experts are beginning to doubt the value (cost/profit) of extending competition to this market segment that the European Union decides to authorize such an extension. (authors)

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.)

Liberalization and enlargement: effects of the industrial organisation of natural gas markets in Eastern Europe

International Nuclear Information System (INIS)

Pirovska, M.

2005-01-01

After half a century of political division within the European continent, and of State control over national energy industries, a new industrial and political organisation model aiming at creating a single natural gas market tends to emerge currently within the enlarged European Union. Yet new member countries are former centrally planned, socialist economies, with very different industrial structures for natural gas. However, those countries should adjust to the institutional framework applicable in the European Union, including bringing their gas industries into compliance with the liberalization process that old member countries initiated years ago. In that unprecedented context, one basic issue is whether the gas industry liberalization, in the framework of the enlargement, will have expected results in terms of competition, efficiency and profits for Eastern countries, whether new members or candidates for membership. The objective of the research work behind this article was to analyse the effects of that complex trend on the industrial organisation of gas markets in eastern Europe. (author)

Convergence of European spot market prices for natural gas. A Real-Time Analysis of market integration using the Kalman filter

International Nuclear Information System (INIS)

Siliverstovs, Boriss; Neumann, Anne

2005-01-01

This paper provides a textbook example of an econometric analysis of the integration between two commodity markets and the subsequent price convergence or absence thereof. We analyze price relations between spot markets for natural gas in Europe. The European market for natural gas is currently undergoing a liberalization process with the aim of creating a single, unified market. We use time-varying coefficient estimation models, applying the Kalman filter to test whether price convergence between different locations is really taking place. Our results reveal that the construction of a pipeline between the UK and Zeebrugge (Belgium) has lead to almost perfect price convergence between theses locations; on the other hand, liberalization on the European continent does not seem to be working so far. (Author)

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)

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

Technology mix configuration in liberalized electricity market

International Nuclear Information System (INIS)

Castro-Rodriguez, F.

2007-01-01

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

In view of unified market how liberalize the natural gas market

International Nuclear Information System (INIS)

Cavicchia, V.

2000-01-01

A liberalization to make in parallel with a electric market. That separate clearly the operations of retail and transport, that liberalize the access to stock, clear directions of prices structure avoid cartel agreement among transport managers [it

Economic efficiency versus social equality? The U.S. liberal model versus the European social model.

Science.gov (United States)

Navarro, Vicente; Schmitt, John

2005-01-01

This article begins by challenging the widely held view in neoliberal discourse that there is a necessary trade-off between higher efficiency and lower reduction of inequalities: the article empirically shows that the liberal, U.S. model has been less efficient economically (slower economic growth, higher unemployment) than the social model in existence in the European Union and in the majority of its member states. Based on the data presented, the authors criticize the adoption of features of the liberal model (such as deregulation of their labor markets, reduction of public social expenditures) by some European governments. The second section analyzes the causes for the slowdown of economic growth and the increase of unemployment in the European Union--that is, the application of monetarist and neoliberal policies in the institutional frame of the European Union, including the Stability Pact, the objectives and modus operandi of the European Central Bank, and the very limited resources available to the European Commission for stimulating and distributive functions. The third section details the reasons for these developments, including (besides historical considerations) the enormous influence of financial capital in the E.U. institutions and the very limited democracy. Proposals for change are included.

Increased competition on the supply side of the Western European natural gas market

International Nuclear Information System (INIS)

Golombek, R.; Gjelsvik, E.; Rosendahl, K.N.

1996-01-01

This publication discusses the impact of breaking up national gas sales consortia in Western Europe. A numerical model of the Western European natural gas market is used to show that once the demand side of the market is liberalized, each producing country has an incentive to break up its national gas sales consortium. The situation is not stable, however, since each country has an incentive to increase the number of domestic producers in response to more competitors. Consequently the model suggests that there may be a large number of producers in a completely liberalized natural gas market. 19 refs., 1 fig., 3 tabs

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.

Thesis: the ''evolutions of the long term European gas market - organisation and costs''

International Nuclear Information System (INIS)

Ouvry, V.

1998-01-01

This paper presents the main conclusions of the thesis defended by the author on January 30, 1998: recalls of some characteristics of the European gas market, the stakes of the gas market liberation, the regulatory aspects, the tariffs problem, the competition in the gas marketing segment, and different possible modeling of the gas market evolution (contracts, costs, competition). (J.S.)

Risk and investment management in liberalized electricity markets

International Nuclear Information System (INIS)

Lemming, J.

2003-09-01

Electricity markets around the world are currently undergoing a liberalization process that changes the way electricity is traded and priced as a commodity. The electricity system has unique technical characteristics and the importance of electricity in today's information society is significant. The liberalization will not change the fact that politicians and regulators will be held responsible for keeping electricity on reasonable costs. What changes is the tool used by regulators to accomplish this task. The introduction of competitive markets implies that market participants will be held financial responsible for their decisions. System operators remain responsible for the physical balancing, thus electricity markets will remain strongly regulated even after liberalization. The hypothesis of this thesis is that the relevance of financial tools for electricity market risk management depends critically on the technical characteristics of electricity assets and on the demands placed by the stakeholders in the electricity sector. In many cases such technical characteristics and stakeholder demands will imply a need for revised and renewed tools compared to those used for portfolios of financial assets. (BA)

Managing congestion and intermittent renewable generation in liberalized electricity markets

Energy Technology Data Exchange (ETDEWEB)

Kunz, Friedrich

2013-02-27

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

Liberalization of electricity markets in Quebec and France: crossed prospects

International Nuclear Information System (INIS)

Caron, Jocelyn

2011-01-01

This essay focuses on the liberalization of electricity markets in Quebec and France. As in most Western states, Quebec and France have undertaken reforms to liberalize their domestic electricity markets. Starting from a similar arrangement, namely occupied by a state monopoly, the French and Quebecois markets have evolved into a more or less liberalized model. What were the changes brought about by these reforms? What reasons have motivated them? What is the functioning of the model in place in both states? What are the prospects for these markets? To identify the issues of these reforms, this essay will be divided into four chapters. The first chapter will discuss the organization of markets in Quebec and French before the liberalizing reforms: in addition to the organization as such, this chapter will address the reasons why the two states have chosen a market controlled by the state. It emerges from this chapter that both states nationalized and regulated the electricity market to promote economic development and quality standards for a service considered public. The second chapter will examine the genesis of liberalization reforms, the different models of market organization and a summary of selected experiences of liberalization that took place both before those of Quebec and France ones. The diversity of market models and the pitfalls have lived through some states raised the fact that successful liberalization reforms is a complex process. The third chapter will analyse the reforms that changed markets in Quebec and France and more specifically, the organization of the market that has resulted. It is established that if the two markets have been forced to reform themselves by forces outside the two states, the paths that were taken differ greatly. Finally, the fourth chapter will conduct an initial assessment of the reforms and provide some forecast for the future. The reforms that have taken place in both states have produced satisfactory results taking

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

Decentralized energy supply on the liberalized market

International Nuclear Information System (INIS)

Pauli, H.

1999-01-01

Starting in 2001, the electricity market is to be progressively liberalized. The process will be completed by the year 2006. What role will decentralized power generation using combined cycle power plants play on a liberalized market ? The background conditions are essentially favourable: both the new energy act, which has been in force since 1 January 1999, and the planned energy levy suggest that this technology will become increasingly widespread. In addition, the price trend for combined cycle plants components together with low energy costs are having a favourable impact. On the other hand, great uncertainty is being created by the process of liberalization and the current flood of investments in power generation. However, electricity supply is unlikely to be in surplus for long in a context of sustained economic growth. (author)

LIBER MARC Harmonization Task Force - Format activities in European countries

Directory of Open Access Journals (Sweden)

Renate Gömpel

2004-03-01

Full Text Available The LIBER MARC Harmonization Task Force has its origins in an initiative of the past President of LIBER, Professor Elmar Mittler from the Göttingen State and University Library. Professor Mittler asked Dr Elisabeth Niggemann from Die Deutsche Bibliothek to take part in the meeting of the MARC Harmonization Coordinating Committee in Ottawa in May 2001. Following that meeting the LIBER MARC Harmonization Task Force was founded at the LIBER Annual Conference in July 2001 in London. The LIBER MARC Harmonization Task Force held its first meeting on 14 January 2002 at Die Deutsche Bibliothek Frankfurt am Main, with the aim of gaining an overview of format activities in Europe. The group's aim was to concentrate on European developments and to build up stronger cooperation in the library world in order to strengthen Europe's international influence. The LIBER MARC Harmonization Task Force held a second meeting at the IFLA 2002 Conference in Glasgow and discussed the first draft of its report and recommendations to LIBER. After final discussion within the group, this report has been further revised and was submitted to LIBER. The aim of the report is to give an overview of format activities in European countries and to make recommendations to LIBER regarding the use and development of data formats in Europe. The annex includes reports on migration activities from different countries. The report is based on information on data formats collected and compiled on the basis of a questionnaire distributed to the Conference of European National Librarians (CENL. Cataloguing issues were further discussed at the 1st IFLA Meeting of Experts on an International Cataloguing Code held in Frankfurt in July 2003. Further meetings will be held at the IFLA conferences in Buenos Aires (2004 and Seoul (2006.

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

THE UK ELECTRICITY MARKET EVOLUTION DURING THE LIBERALIZATION PROCESS

Directory of Open Access Journals (Sweden)

Delia Vasilica Rotaru

2013-07-01

Full Text Available This paper offers an insight on the liberalization process that took place in the United Kingdom starting with 1990 until now. The electricity market in the United Kingdom made incredible progress in the road to reaching a full level of liberalization where customers are free to choose between suppliers and services. An analysis of the most important indicators for the electricity market evolution such as electricity price, the market share of the largest generator, the energy efficiency indicator shows that the liberalization process brought many advantages starting with 2001. Also, UK has to face new challenges in order to keep the development of the industry on the right path, challenges that are presented in the final part of the paper.

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

International Nuclear Information System (INIS)

Mueller, Ralf; Steinert, Martin; Teufel, Stephanie

2008-01-01

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

Risk and investment management in liberalized electricity markets

DEFF Research Database (Denmark)

Lemming, Jacob Kjærgaard

2005-01-01

markets affects the nancial risk related to different decision problems within the areas of risk management and investments in liberalized electricity markets. Focus is on applied microeconomics and analyzes of the interplay between market design parameters and the technical characteristics...... of the electricity system. Theory, literature and introduction to speci c problem areas related to risk management and investments is provided in two separate introductory chapters. Contributions to research within specific problems areas is then subsequently provided by five research papers. The two topics...... are relatively broad, however the two chapters and ve papers all share analyzes of nancial risk in liberalized electricity markets as a common underlying theme. The risk management part of the thesis focusses on modelling and measurement of financial risk in electricity markets. Key topics are electricity price...

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

International Nuclear Information System (INIS)

Haas, Reinhard

2005-01-01

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

Can new units start up in liberalized markets?

International Nuclear Information System (INIS)

Kidd, S.

2005-01-01

Power market liberalization had stimulating effect on the nuclear power engineering. It is shown that the operating nuclear power plants blended well into the market medium. Nevertheless the success of the new nuclear power unit is not clear in this market medium [ru

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.

Security of supply in the liberalized energy market

International Nuclear Information System (INIS)

Boffa, Federico

2007-01-01

The incentive schemes in the liberalized energy markets do not ensure short-term security of supply. The paper analyzes the regulatory measures suitable to tackle the issue, and evaluates their effects on market power [it

The development of market power in the Spanish power generation sector: Perspectives after market liberalization

International Nuclear Information System (INIS)

Ciarreta, Aitor; Nasirov, Shahriyar; Silva, Carlos

2016-01-01

This paper provides a comprehensive analysis of the market power problem in the Spanish power generation sector and examines how and to which extent the market has developed in terms of market power concerns after the market liberalization reforms. The methodology applied in this study includes typical ex-post structural and behavioral measures employed to estimate potential for market power, namely: concentration ratios (CR) (for the largest and the three largest suppliers), the Herfindahl–Hirschman Index (HHI), Entropy, Pivotal Supply Index, the Residual Supply Index and Residual Demand Elasticity (RDE). The results are presented for the two largest Spanish generating companies (Endesa and Iberdrola) acting in the Iberian Electricity Market (MIBEL), and in the Spanish Day-ahead electricity market. The results show evidence that these companies have behaved much more competitively in recent periods than in the beginning of the market liberalization. In addition, the paper discusses important structural and regulatory changes through market liberalization processes in the Spanish Day-ahead electricity market. - Highlights: •Competition and regulation in the Spanish electricity market. •The methodology applied in this study: ex-post structural and behavioral measures. •Key dominant companies behaved more competitively in recent periods. •Important structural and regulatory changes in the Spanish electricity market.

Natural gas supply in Denmark - A model of natural gas transmission and the liberalized gas market

International Nuclear Information System (INIS)

Bregnbaek, L.

2005-01-01

In the wake of the liberalization of European energy markets a large area of research has spawned. This area includes the development of mathematical models to analyze the impact of liberalization with respect to efficiency, supply security and environment, to name but a few subjects. This project describes the development of such a model. In Denmark the parallel liberalization of the markets of natural gas and electricity and the existence of an abundance of de-centralized combined heat and power generators of which most are natural gas fired, leads to the natural assumption that the future holds a greater deal of interdependency for these markets. A model is developed describing network flows in the natural gas transmission system, the main arteries of natural gas supply, from a technical viewpoint. This yields a technical bounding on the supply available in different parts of the country. Additionally the economic structure of the Danish natural gas market is formulated mathematically giving a description of the transmission, distribution and storage options available to the market. The supply and demand of natural gas is put into a partial equilibrium context by integrating the developed model with the Balmorel model, which describes the markets for electricity and district heat. Specifically on the demand side the consumption of natural gas for heat and power generation is emphasized. General results and three demonstration cases are presented to illustrate how the developed model can be used to analyze various energy policy issues, and to disclose the strengths and weaknesses in the formulation. (au)

Liberalization of electricity markets and energy security

International Nuclear Information System (INIS)

Yajima, Masayuki

2004-01-01

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

Liberalization of the electricity market. A success story in Austria

International Nuclear Information System (INIS)

Boltz, W.

2002-01-01

With effect from October 1,2001, every electricity consumer in Austria - from industrial consumer to private household - is now free to choose his own electricity supplier. Prior to this date only industrial consumers were able to benefit from the liberalization of the market initiated in the year 1999. Freedom of choice means increased competition between the various suppliers. Electricity consumers are the winners in the liberalization process, benefiting not only from lower prices, but in particular from greater customer care, various add-on offers and special additional facilities. All the signs are that the liberalization of the Austrian electricity market will continue to be a positive development in the future. (author)

Liberalization and enlargement: impacts on the industrial organisation of natural gas markets in Eastern Europe

International Nuclear Information System (INIS)

Pirovska, M.

2004-01-01

In 2004, the EU has opened its commercial natural gas industry to competition, while eight former socialist countries have become member states. This ongoing institutional evolution is expected to have a great impact on the industrial organisation of the East European natural gas markets. Specificities and rigidities of the transport networks, as well as strong import dependency may in fact weaken the security of supply and confirm that natural gas is strongly affected by geopolitical constraints. By levering on an analysis of structure and strategies across natural gas markets in Eastern Europe, this dissertation explores the stakes of integration and liberalization on the industrial organisation of European natural gas and reveals the risk of an emerging oligopoly, and the cooperation between dominant players. Our main contention is that this evolution could possibly hinder network interconnection thereby thwarting the achievement of an integrated and single competitive natural gas market in the Union. (author)

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)

Exporting EU Liberalism Eastwards

Directory of Open Access Journals (Sweden)

Lynn M. Tesser

2009-07-01

Full Text Available There is much more to liberalism in the post communist context than has been acknowledged. A sizeable effort has indeed emerged to transplant a relatively coherent liberal ideology to the region, one exported not merely through the conditionality of international financial institutions, but also through the conditionality and socialization of organizations like the NATO, OSCE, EU, and the Council of Europe. ‘EU liberalism’ includes the ‘standard’ liberal emphasis on individual rights, the rule of law, constitutional democracy, freedom, and market economics as well as support for minority rights, and a seemingly schizophrenic emphasis on economic integration that involves, first bringing down borders for the free movement of people, goods, capital, and services between member states, and second, market regulation to diminish the social downsides of capitalism. This paper outlines EU liberalism’s emergence and its application to Central and East European countries.

Synergies of the Liberalization of the Railway Transport Market

Directory of Open Access Journals (Sweden)

Panák Michal

2017-01-01

Full Text Available The liberalization of transport market brings various effects, which in the context of the assessment of synergies can affect in different ways the company, a customer as such, and transport undertakings operating on the railway transport market as well. This paper provides an innovative perspective on the relationship between liberalization and synergy, defining new types of synergies that have not yet been monitored in the conditions of railway transport. This approach is interesting because of the possibility of assessing the operation of railway undertakings in the open transport market. The eminent is characteristic of integration type synergies and emergence type synergies in relation to railway transport, as well as the breakdown of synergies in relation to the customer and carrier.

Fuel mix diversification incentives in liberalized electricity markets: A Mean-Variance Portfolio theory approach

International Nuclear Information System (INIS)

Roques, Fabien A.; Newbery, David M.; Nuttall, William J.

2008-01-01

Monte Carlo simulations of gas, coal and nuclear plant investment returns are used as inputs of a Mean-Variance Portfolio optimization to identify optimal base load generation portfolios for large electricity generators in liberalized electricity markets. We study the impact of fuel, electricity, and CO 2 price risks and their degree of correlation on optimal plant portfolios. High degrees of correlation between gas and electricity prices - as observed in most European markets - reduce gas plant risks and make portfolios dominated by gas plant more attractive. Long-term power purchase contracts and/or a lower cost of capital can rebalance optimal portfolios towards more diversified portfolios with larger shares of nuclear and coal plants

Fuel mix diversification incentives in liberalized electricity markets: A Mean-Variance Portfolio theory approach

Energy Technology Data Exchange (ETDEWEB)

Roques, F.A.; Newbery, D.M.; Nuffall, W.J. [University of Cambridge, Cambridge (United Kingdom). Faculty of Economics

2008-07-15

Monte Carlo simulations of gas, coal and nuclear plant investment returns are used as inputs of a Mean-Variance Portfolio optimization to identify optimal base load generation portfolios for large electricity generators in liberalized electricity markets. We study the impact of fuel, electricity, and CO{sub 2} price risks and their degree of correlation on optimal plant portfolios. High degrees of correlation between gas and electricity prices - as observed in most European markets - reduce gas plant risks and make portfolios dominated by gas plant more attractive. Long-term power purchase contracts and/or a lower cost of capital can rebalance optimal portfolios towards more diversified portfolios with larger shares of nuclear and coal plants.

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)

Uranium trade and global liberalization of markets

International Nuclear Information System (INIS)

Elagin, Yu.P.

2003-01-01

Present state of nuclear fuel market is reviewed. Political and economical aspects of nuclear fuel trade, traditional schemes of gain of nuclear fuel, tendencies and last innovations are treated. Price mechanisms, increase in part of traders, price indicators are discussed. Under the liberalization conditions the uranium market and common tendencies on the stages of nuclear fuel cycle as well as prospects of gain and sale of nuclear fuel, electronic trade are considered [ru

The Austrian and Upper Austrian electricity market and its restructuring affected by the liberalization based on the 'Elektrizitaetswirtschafts- und organisationsgesetz' (1999) as well as the 'Energieliberalisierungsgesetz' (2000)

International Nuclear Information System (INIS)

Grubich, C.; Krottenthaler, R.

2001-07-01

After an overview about the basics of electricity the thesis covers the history of the electricity market in Upper Austria from the very beginning including parallels to national activities and trends in this field. The historical part is therefore divided into three chapters: the development of the electricity supply in Austria, Upper Austria and Linz. In the following chapter the thesis discusses the legal basis for the structure of Austria' electricity market as well as the latest laws dealing with the liberalization of Austria' electricity market as well as the European legislative conditions regulating the liberalization of the European electricity market. The thesis furthermore deals with the effects on customers as well as on the suppliers that are yet affected by the ongoing liberalization in the various customer segments. It also covers the expected affects on Austria' private customers that will occur by the complete deregulation that starts in October 2001. The thesis covers also the actual strategic plans of Austria' public owned suppliers in the effort to strengthen their market positions. In contrary to the deregulated telecom market the electricity markets won' grow. Therefore, competition on the electricity market will get much harder. Suppliers will strain for cooperation and mergers in order to face this competition, which is underlined in this part of the thesis. The fourth chapter covers the ecological items of electricity production and consumption. It therefore deals with renewable and nuclear energy sources and their contributions to a sustainable economy. (author)

The Gendered Labor Market Impacts of Trade Liberalization Evidence from Brazil

NARCIS (Netherlands)

Gaddis, Isis; Pieters, Janneke

2017-01-01

This paper investigates the impact of Brazil's trade liberalization on gender differences in labor market outcomes, using difference-in-difference estimation that exploits variation in preliberalization industry composition across microregions. We find that trade liberalization reduced male and

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

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

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

Agricultural protectionism of the European union in the conditions of international trade liberalization

Directory of Open Access Journals (Sweden)

Marković Ivan

2014-01-01

Full Text Available The key objective of agricultural protectionism is reflected in the protection and developing of agriculture sector. Integrated parts of this policy in the European Union are the initial model of agricultural protectionism and a new strategy of agricultural policy, which emerged as a response to the shortcomings of previously existing model. The paper presents the key reforms of agricultural policy, conditioned to internal problems and pressures in the negotiations of trade liberalization of agricultural and food products. Reform solutions for the period of 2014 to the 2020 will have similar goals. The priority will be to develop sustainable food production and sustainable management of natural resources. There is a widespread awareness of sustainable development that includes not only the economic component (which is reflected in the increase in productivity and production efficiency, but also an environmental component (the need to preserve the environment, as well as the social component of sustainable development (integrated rural development. Conducting negotiations in the framework of liberalization of agricultural and food products, there was a gradual reduction of restrictive measures in the field of domestic agriculture protection. However, the European food market is still highly protected from foreign competition because of the many features of the agricultural production sector and the importance of agriculture for the entire society. It is certain that the CAP will lose its narrow agricultural character.

France liberalizes its power supply market

International Nuclear Information System (INIS)

Anon.

2004-01-01

The French market of power supply to companies is now free. This means that Electricite de France (EdF), the first world electric utility now has competitors in its domestic market. This is an important challenge for EdF because 3 millions of clients (70% of the French power consumption) are now concerned by the opening of the power market. According to A. Merlin, head of the energy transportation network (RTE), the opening of the market does not increase the risk of black-out, it just makes the operation of power networks more complex. The implementation of a single power transportation company (RTE) simplifies the mastery of networks safety but the development of investments is necessary to ensure the maintenance of 400 kV power lines. A comparison of the situation of power market liberalization is made for 6 countries (Germany, UK, Spain, US, Netherlands and Italy). Short paper. (J.S.)

Liberalization of the Flemish market for electricity and natural gas

International Nuclear Information System (INIS)

2002-01-01

In this first report of the Flemish Regulating Institute for the Electricity and Natural Gas Market (VREG) only attention is paid to the market for electricity. Every 3 months a state of the art will be given of the liberalization process of the energy market in Flanders [nl

Using the decentralized and liberalized electricity market microworld (LEMM) as an educational tool

International Nuclear Information System (INIS)

Pasaoglu, Guezay

2011-01-01

Decentralized and liberalized electricity market involves a great deal of interdisciplinary concepts, including economic, commercial, environmental and technological issues. Consequently, the system is complicated. Accordingly, nowadays introductory courses focusing on the electricity market dynamics have been added to the curriculum at many universities. However, as the electricity market dynamics are complicated, it is not straightforward for students to understand. A teaching tool to assist students to better understand strategic behaviors in the market is thus in high demand. Due to these reasons, Liberalized Electricity Market Microworld (LEMM), incorporating a system dynamics based simulation model, is developed. The LEMM's contribution to the students learning and understanding of the decentralized and liberalized electricity market dynamics have been explored by organizing game sessions with the LEMM for totally 49 students who participated in 'Energy Policy and Planning' course in Bogazici University. The findings obtained from the exploratory study reveal that the students improved their understanding of the liberalized and decentralized electricity market through the game session with the LEMM. In this paper, the general characteristics of the LEMM and the underlying model are presented, the microworlds', particularly the LEMM's potential contribution to learning and teaching is discussed. - Research highlights: → LEMM describes realistically the dynamics of liberalized and decentralized electricity markets. → LEMM is a system dynamics based microworld used as a teaching tool in universities. → The study reveals that student's learning and understanding improves significantly using LEMM. → Future target groups of the LEMM are energy policy makers and decision makers. → To improve the performance of the training, microworld based game sessions should be used.

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

Liberalization turns energy market upside down

International Nuclear Information System (INIS)

Lousberg, H.H.J.

2002-01-01

The consequences of free energy trade are discussed, i.e. the changes caused by liberalization of the energy market. The ability to purchase energy freely, thus creating competition between sources of energy, is changing the relationships between gas and electricity prices. The implications are very significant for building services contractors and energy companies and also for the selection of technical concepts. It also, of course, has implications for the environment. liberalization also gives certain customers the opportunity to consider their energy supply on an integrated basis. Who is going to supply me with energy, rather than who supplies electricity and who supplies gas? For example, the customer wants heating, cooling and electricity, and the conversion methods are not immediately relevant. This creates the possibility of offering, or outsourcing, a total 'energy' package [nl

The liberalization of electricity markets

International Nuclear Information System (INIS)

Lepage, H.; Boucher, M.

2001-01-01

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

Research on Simulation Requirements and Business Architecture of Automated Demand Response in Power Sales Side Market Liberalization

Science.gov (United States)

Liu, Yiqun; Zhou, Pengcheng; Zeng, Ming; Chen, Songsong

2018-01-01

With the gradual reform of the electricity market, the power sale side liberalization has become the focus of attention as the key task of reform. The open power market provides a good environment for DR (Demand Response). It is of great significance to research the simulation requirements and business architecture of ADR (Automatic Demand Response) in power sale side market liberalization. Firstly, this paper analyzes the simulation requirements of ADR. Secondly, it analyzes the influence factors that the business development of ADR from five aspects after power sale side market liberalization. Finally, Based on ADR technology support system, the business architecture of ADR after power sale side market liberalization is constructed.

COMPETITION FOR THE MARKET AND LIBERALIZATION: THE FRENCH EXPERIENCE

Directory of Open Access Journals (Sweden)

Bruno Lassere

2014-12-01

Full Text Available Progressing from a state controlled economy to a fully liberalized market economy takes considerable efforts. Depending on the specificities of the markets and the sectors regulated, the opening of markets to competition can take different forms. Competition on the market is considered to be the traditional form of competition. Certain economic sectors, however, are not prone to this traditional form of competition, specifically in situations where natural monopolies seem to be the only viable solutions. This is where competition for the market can be a good substitute.Competition for the market implies that a bidding process is organized to select the operator, which will be allowed to serve demand on a given market for a given time. Going through this bidding process is meant to introduce market mechanisms or, in other words, ex ante competition. As such, competition for the market contributes to put competitive pressure on monopolists, which is beneficial to consumers and users not only in terms of price and service quality, but also in terms of adjustment between supply and demand and access to information.Experience has shown, however, that several factors can hinder the expected benefits derived from competition for the market. In light of these difficulties, the French Competition Authority de la concurrence has developed solutions to unleash the full potential of competition for the market.Naturally, once markets are liberalized, comes the time for regulation through enforcement actions as well as continued advocacy efforts toward government, incumbent operators and new market players.

Enhancing the Relevance and Value of Marketing Curriculum Outcomes to a Liberal Arts Education

Science.gov (United States)

Petkus, Ed, Jr.

2007-01-01

Could marketing coursework be part of the general education requirements for all college students? This article describes the ways in which the professional school marketing curriculum model (Schibrowsky, Peltier, & Boyt, 2002) can complement and enhance liberal arts education outcomes. First, the general relationship between liberal arts…

The liberalization of the European electric and gas industries through the firms' M and A and investment strategies: propositions for a better energy security

International Nuclear Information System (INIS)

Benhassine, W.

2009-04-01

The electric and gas industries have been traditionally managed by public monopolies. The post World War II context was supportive to such an industrial organization. In fact, Europe was getting engaged in a long period of economic growth and was benefiting a favorable energetic context. At the end of the 90's, Europe decides to liberalize the national energy industries in order to create a unique European energy market. This liberalization has occurred in a context that as dramatically changed from the economic and energetic perspective. Indeed, the globalization phenomenon has strengthened the competitiveness of the emerging economies. The strong growth of the energy demand and the stagnation of the supply on the offer side have created tensions which have been increasingly frequent and important on the energy markets. Besides, facing greater budget restrictions and financial difficulties, the states have wished to get financially disengaged from these industries. Many factors show that the economic and energetic context will not get better in the next decades. Hence, in this new context, the liberalization of the energy industries should respond to two major stakes for the energy security of the European countries: the sustainability of the investments and the control of the energy demand. After having studied the merger and investment strategies of the energy firms, operating within a freshly liberalized sector, we make some propositions to draw up a new industrial organization which would allow a more efficient response to these two stakes. (author)

Liberalization of Russian gas exports: benefits and challenges

Directory of Open Access Journals (Sweden)

Yakunina Alla

2017-01-01

Full Text Available Russian gas export liberalization has been discussed throughout the post-Soviet period. Recently, the number of Gazprom’s export monopoly advocates has been diminishing as a result of dramatic changes in both European and Russian gas markets, which are: increasing international trade in liquefied natural gas; the EU movement from long-term contracts to the commodity markets and hub pricing; substantially increased share of the non-Gazprom gas suppliers at the Russian domestic market. Although there is a potential risk of price decrease in the EU gas market in the case of the Gazprom export monopoly abolition, the benefits of the Russian gas export liberalization would be greater than losses. The gas resource base and the cost of pipeline gas production would allow Russia to improve its positions in the world market.

Understanding customer switching behavior in a liberalizing Service market : An exploratory study

NARCIS (Netherlands)

Wieringa, Jaap E.; Verhoef, Peter C.

In recent decades, many service markets have been liberalized, which means incumbent service firms face new competitors and must address customer switching-which from a public policy perspective, is necessary to ensure that liberalization succeeds. In this article, the authors conduct an exploratory

Understanding customer switching behavior in a liberalizing Service market : An exploratory study

NARCIS (Netherlands)

Wieringa, Jaap E.; Verhoef, Peter C.

2007-01-01

In recent decades, many service markets have been liberalized, which means incumbent service firms face new competitors and must address customer switching-which from a public policy perspective, is necessary to ensure that liberalization succeeds. In this article, the authors conduct an exploratory

Competitiveness of nuclear power in Japanese liberalized electricity market

International Nuclear Information System (INIS)

Abe, Y.

2006-01-01

The liberalization of Japanese electricity market expanded to customers of over 50 kV on April 1, 2005 and more than 60% of the market has been already open. The discussion about the assistance measures of nuclear power generation in Japanese liberalization of electricity market has come to grow warmer gradually. The opinions on the competitiveness of nuclear power are inconsistency among the supporters of nuclear power. Some says that nuclear power is the most competitive, others says nuclear power require some sort of financial or political assistance in the deregulation of electricity market. In this study, based on financial statements of each Japanese electric power company, the constitution of generation cost of nuclear power is illustrated and various financial and economic characteristics, including ''merit of scale'' and the impact of new nuclear power plant construction on the finance of electric power company, are discussed. In addition, the economic features of nuclear power generation are compared with those of thermal power generation through the analysis of financial statements. Finally, support policies for nuclear power required in deregulation of electric utilities are examined in terms of fairness of competition and security of electricity supply

Trade Liberalization and Optimal Environmental Policies in Vertical Related Markets

Directory of Open Access Journals (Sweden)

Yan-Shu Lin

2012-12-01

Full Text Available This paper establishes a symmetric two-country model with vertically related markets. In the downstream market, there is one firm in each country selling a homogeneous good, whose production generates pollution, to its home and the foreign markets a la Brander (1981. In the intermediate good market, there is also one upstream firm in each country, supplying the intermediate good only to its own country’s downstream market. The upstream firms can choose either price or quantity to maximize their profits. With this setting, the paper examines the optimal environmental policy and how it is affected by the tariff on the final good. It is found that, under free trade, the optimal final-good output with imperfect intermediate-good market will have the same output level as that with perfect intermediate-good market after imposing the optimal emission tax. The optimal environmental tax is smaller and the optimal environmental policy is less likely to be a green strategy under trade liberalization if the market structure in the intermediate good market is imperfect than perfect competition. On the other hand, the optimal environmental tax is necessarily higher if the upstream firm chooses price than quantity. Moreover, the optimal environmental policy is less likely to be a green strategy under trade liberalization if the upstream firms choose quantity than price to maximize their profits.

A way of Dukovany NPP to privatization and liberalized market

International Nuclear Information System (INIS)

Kouklik, I.

2001-01-01

This presentation describes the current situation in the Dukovany NPP with two main upcoming future phenomena - privatization of CEZ company and preparation for liberalized electricity market. Considerations about level of safety, investment costs and competitiveness of Dukovany Nuclear Power Plant in liberalization process is described together with a comparison of some safety features of the world's NPPs. Results of this comparison are used for consideration and evaluation of some require modifications effectiveness. (author)

Comparative study of liberalization process of passengers railway market in Spain and England

Energy Technology Data Exchange (ETDEWEB)

Fernandez Morote, G.; Ortuño Padilla, A.; Fernandez Aracil, P.

2016-07-01

This article provides an overview of the privatization of railway passengers market in Spain through a background to the most relevant cases studies in Europe, particularly the liberalization process in England. The English case study is a paradigmatic example to assess how the liberalization process was developed and its effect in the present. This assessment has been undertaken to analyse the railway franchise structure, ticketing measures, role of national and regional authorities, etc. and possible analogies to be adapted to the case of Spain. Firstly, this article reviews the origin of the privatization of the railway market in both Spain and England, describing every phase of the liberalization and the success of every stage. Secondly, a critical approach assessment exposes those market failures of the liberalization process in England that caused negative impacts on society. In addition, the role of the Government is analysed to measure their implication in order to solve that situation. Furthermore, the paper expounds a wide analysis of the rail ticketing in England, its effects on increased passenger number. Finally, this article proposes some measures to be followed on the privatization of passenger rail market in Spain, as well as some key concepts to guarantee its success as taken from the case studies that have been reviewed. (Author)

The New Spirit of Capitalism in European Liberal Arts Programs

Science.gov (United States)

Claus, Jakob; Meckel, Thomas; Pätz, Farina

2018-01-01

The following paper suggests a connection between recent developments in the justification of the capitalist system and contemporary European Liberal Arts programs. By looking at Luc Boltanski's and Eve Chiapello's study on "The New Spirit Of Capitalism" and Gilles Deleuze's term of "societies of control" we highlight a pivot…

Competition ambiguities. Electricite de France and the electricity market liberalization; Les ambiguites de la concurrence. Electricite de France et la liberalisation du marche de l'electricite

Energy Technology Data Exchange (ETDEWEB)

Boiteux, M. [Electricite de France (EDF), 75 - Paris (France)

2007-04-15

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

More efficiency due to the liberalization of the market for electricity

International Nuclear Information System (INIS)

Huisman, R.; Huurman, C.I.

2004-01-01

The market for electricity in the Netherlands has become more efficient due to the liberalization. This can be deducted from the fact that prices at the so-called imbalance market have risen. Producers of electricity are stimulated to better estimate the demand for electricity [nl

Welfare Effects of Trade Liberalization with Intra-industry Reallocations: The Importance of Preferences and Market Failures

DEFF Research Database (Denmark)

Sørensen, Allan

pref- erences, which ensures equivalence of the market equilibrium and the social planner solution. For other preferences this equivalence is broken and trade liberalization may reduce welfare by magnifying market failures. An exact condition for trade liberalization to reduce overall welfare...

Comparative analysis of Fiber-to-the-Home market liberalization in the EU

DEFF Research Database (Denmark)

Williams, Idongesit

2017-01-01

The penetration of Fiber-to-the-Home (FTTH) in the EU is low. This is because deploying FTTH is capital intensive. The liberalization of the FTTH market in three EU countries is studied in this paper. The aim is to identify the challenges that affect the growth of FTTH in the EU. This is a qualit......The penetration of Fiber-to-the-Home (FTTH) in the EU is low. This is because deploying FTTH is capital intensive. The liberalization of the FTTH market in three EU countries is studied in this paper. The aim is to identify the challenges that affect the growth of FTTH in the EU......, this paper concludes that competition at the wholesale market aspect of the FTTH market should be given more priority than competition at the retail section of the Fiber-to-the-Home market. This prioritization in regulating competition will enable greater market penetration of Fiber...

The liberalization of gas markets in Europe

International Nuclear Information System (INIS)

Lecarpentier, A.

2006-01-01

On June 22, 1998 all EU Member States unanimously approved Directive 98/30/EC, the so-called Gas Directive, which paved the way for far-reaching changes in the European gas sector and for the establishment of an internal gas market. Five years have elapsed since it was transposed into national law and although markets have started to open up, their rate of progress varies. The next milestone in achieving a fully competitive European market is July 1, 2007, but there are still many obstacles to overcome. (author)

The liberalization of gas market in Europe

International Nuclear Information System (INIS)

Lecarpentier, Armelle

2006-01-01

On June 22, 1998, all EU Member States unanimously approved Directive 98/30/EC, the so-called Gas Directive, which paved the way for far-reaching changes in the European gas Sector and for the establishment of an internal gas market. Five years have elapsed since it was transposed into national law and although markets have started to open up, their rate of progress varies. The next milestone in achieving a fully competitive European market is July 1, 2007, but there are still many obstacles to overcome [it

THEORETICAL ASPECTS OF FINANCIAL LIBERALIZATION PROCESS

Directory of Open Access Journals (Sweden)

Ciupac-Ulici Maria-Lenuta

2013-07-01

Full Text Available Financial liberalization process and its implications on financial emerging markets have been multidisciplinary research since 1970. Reform of financial liberalization is a complex and long phenomena. This implies that the impact of this reform on financial markets should not be immediate, but rather gradually during a long time period. It is also important to note that liberalization does not occur in the same way on all financial markets. Each country, according to his specification regarding the economic climate and the specificity of financial markets, has differently set its progress of liberalization process. It is generally accepted that the process of financial liberalization is not composed of a single event, but a series of events. The idea is that market reform is a gradual process where the data identified above only refers to the most significant events. Regarding the effect of liberalization reform on emerging markets has been shown; on the one hand, that liberalization helps to reduce the cost of capital, helps to integrate the emerging markets in the global market, enhances economic growth and allows emerging markets to become more mature. On the other hand, financial liberalization process has a very ambiguous and inconclusive impact on informational efficiency and volatility in emerging markets. Launching liberalization reforms provided an analytical framework for studies that attempt to investigate the effectiveness of emerging markets and empirical links between liberalization and efficiency. The first reason is that with liberalization, the authors believe that emerging markets have become more speculative and more competitive. So there is a chance to see if the weak form market efficiency is verified. The second reason is that the authors explore the relationship between liberalization and efficiency. Researchers and regulators seek an answer to the fundamental question: financial liberalization helps the stock market

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

International Nuclear Information System (INIS)

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

2012-01-01

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

Some models for electric power price clearing in liberalized market area

International Nuclear Information System (INIS)

Chogelja, Goran; Pavlov, Risto

2001-01-01

This paper presents some of the basic models for electrical energy price clearing in liberalized market area and competition on level of consumption and level of production. As an example the Amsterdam power exchange APX (spot market) is given and some of another types of markets and methodology for pricing are presented. In detal 'clearing pricing mechanism in day athead market' from the Amsterdam power exchange is presented as well as the methodology for market balancing and financial clearing. (Original)

Poles apart. The liberalization of the Dutch energy market

International Nuclear Information System (INIS)

Koper, N.

2003-01-01

An overview is given of the political and decision making process of the energy market liberalization in the Netherlands, based on interviews with and opinions of former ministers, representatives of the Dutch parliament, administrators, and other highplaced representatives of local governments, associations and energy companies [nl

The Impact of Total Liberalization of Domestic Air Transport on the Social Welfare and on the Dynamic of Competition: Comparison Between the United States and the European Union

Science.gov (United States)

Zbidi, Karim

2003-01-01

Since the lst of April 1997 date of the implementation of the third package of the liberalization, air transport, within the european Union has become totally liberalized. In the United States the deregulation of domestic air traffic was earlier and faster since it took place in October 1978 after the adoption of the only act of deregulation. This paper, in its first part, deals with the liberalization of the industry of air traffic in the european union. After a comparison with US system based on market demand, fare policy and network restrictions, we present our descriptive results coming from treatments on the OAG data. These results present several aspects such as the evolution of the competitive structure of the intra-european routes, the level of airport dominance and the growth of hub structure. The second part of the paper presents models of entry in the airline industry. As profitability" of route flown explains correctly decisions taken by airlines to serve or not a route, the paper focuses on the specification and the estimation of the determinants of city, pair profitability in the european union. Treatments done on the OAG data show a rapid development of leasing space agreement (partial and total) and code sharing practices between 1995 and 2000 in Europe that's why we differentiate first between the two type of competitive strategy of entry(direct entry and leasing space agreement) and second between the competitive strategy of entry and the alliance strategy of code sharing. So the estimation of model will be able to answer the question if the european air transport market is contestable and in case not to see if the decision of entry is more directed by the level of airport dominance (as in the domestic United States market)or essentially by the competitive structure of the routes. We try to explain the nature of entry(directleasing or code sharing) by the different levels of these two determinants.

Liberalization of power generation sector in the Croatian electricity market

International Nuclear Information System (INIS)

Viskovic, Alfredo

2005-01-01

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

Which future for natural gas in the European-Mediterranean area

International Nuclear Information System (INIS)

Giesbert, J.Ch.

1997-01-01

In the Mediterranean sea surrounding countries, energy consumption and in particular natural gas, is growing up. However, this development requires the mobilization of important capitals and the creation of multilateral partnerships. These investments must be realized when southern and eastern Mediterranean countries will change for a market economy and when the energy market in the European Union is liberalizing. This paper describes the situation of the development of natural gas uses in the Maghreb countries (power production, development of cogeneration systems, supply of LPG fuels for domestic uses, development of distribution and transportation systems) and the position of European gas companies with respect to this developing market: investments, risks assessment, European Union warranty, liberalization of gas markets in the Maghreb countries and in the European union. (J.S.)

Book Review: A Liberal Actor in a Realist World the European Union ...

African Journals Online (AJOL)

Abstract. Book Title: A Liberal Actor in a Realist World the European Union Regulatory State and the Global Political Economy of Energy. Book Author: Andreas Goldthau & Nick Sitter. Oxford University Press Oxford 2015. ISBN 9780198719595 ...

Suppliers response to liberalization in Europe

International Nuclear Information System (INIS)

Boon Von Ochssee, T.

2007-03-01

Current EU target of achieving a fully liberalized internal market today does not guarantee the availability of volumes tomorrow. Europe will have to compete with other markets, such as the US in the Atlantic Basin and perhaps the Pacific Basin in the future as far as LNG is concerned. Thus, it is against the backdrop of scarcity in a seller's market that Europe's security of supply must be perceived in the period leading up to 2010, 2020 and beyond. Nevertheless, the focus of Europe's energy concerns will lay with internal developments, primarily competition, unbundling and the ostensible development of an increased share of sustainable energy mix by 2020. Whether the European Commission's ultimate goal, a transparent and completely liberalized gas network system, will be supplied with the necessary volumes to sustain demand growth is another matter. This article seeks to shine the limelight on the external aspects of the EU energy dimension.

Difficulties on the road to a liberalized energy market

International Nuclear Information System (INIS)

Koevoet, H.

2001-01-01

Starting January 1, 2002 about 55,000 consumers of electricity and 2,100 consumers of natural gas (small and medium-sized businesses) in the Netherlands can choose their own supplier. Some of the constraints and difficulties with respect to the liberalized energy market in the Netherlands are discussed

Electricity costs in liberalized market

International Nuclear Information System (INIS)

Barkans, J.; Junghans, G.

2006-01-01

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

Liberal intolerance in European education debates

DEFF Research Database (Denmark)

Olsen, Tore Vincents

2017-01-01

The reaction against non-western immigrants and especially Muslims has been analysed both in terms of an exclusionary civic nationalism and in terms of an assertive liberalism. Similar to exclusionary civic nationalism, assertive liberalism purports to defend liberal democratic principles...... by subdividing it into four categories of liberal intolerance and demonstrates this by analysing six national debates on the accommodation of cultural and religious diversity in education. The analysis indicates that the nature of liberal intolerance understood as the combination of the four categories...

Impacts of market liberalization on the electricity supply sector: a comparison of the experience in Austria and Germany

International Nuclear Information System (INIS)

Madlener, R.; Jochem, E.

2001-01-01

The impacts of market liberalization on the electricity supply sector depend on many different factors and boundary conditions. Comparing these impacts in Austria and Germany, two countries which both participate in the European internal market and have a central geographical location in Western Europe, and which both have borders and important trade relationships with Central and Eastern European countries, provides some important insights with regard to the following aspects: (a) the differences in the primary energy supply mix for electricity generation; (b) the substantial excess capacity, not only in the two countries analyzed but also in the EU as a whole, and its uneven reduction due to different market opening speeds within the Community and differences in the plant stock composition; (c) the utility company structure, including ownership and traditional energy supply and customer relations; (d) the changing situation faced by co-generation and small power producers; and (e) the relevant regulation of third-party access to the grid, electricity transmission, and prices for small/captive consumers. Last but not least, the paper also covers the influence of the expected increase in the volumes of electricity traded in the two countries, also with their Central and Eastern European neighbors (where the level of the playing field may not yet be equalized in the near future), and the concerns that this may lead to conflicts in the achievement of the energy policies, environmental policies, and climate change policies aimed for at the national and European level. (author)

Monopolies, liberalization, energy turnaround. (Dis)continuities in the electricity market design

International Nuclear Information System (INIS)

Grashof, Katherina; Zipp, Alexander; Jachmann, Henning; Wille-Haussmann, Bernhard; Lechtenboehmer, Stefan

2015-01-01

After a long period of stability, the electricity industry is in the past 15 years, in a major state of flux. First, the switching of state-monitored and regulated regional monopolies to liberalized producer and consumer markets. At the moment we are in a similar change from conventional to renewable energy production. Below the main question will be addressed whether the paradigms of the individual phases are compatible, which still have their place and which should be modified. Moreover, it is shown that the current market design of the future cannot be designed on a blank sheet, but existing structures have to be considered. Given the stage of monopolies, the liberalization and the started energy turnaround respectively in terms of their sector structure, dominant generation technologies, the interaction between production and load and characteristic elements of market design and regulation are presented. Subsequently, a preliminary answer is given to the question raised. [de

Do 'liberal market economies' really innovate more radically than 'coordinated market economies'? Hall & Soskice reconsidered

NARCIS (Netherlands)

Akkermans, D.H.M.; Castaldi, C.; Los, B.

2009-01-01

In Varieties of Capitalism; The Institutional Foundations of Comparative Advantage, Peter A. Hall and David Soskice (H&S) argue that technological specialization patterns are largely determined by the prevailing "variety of capitalism". They hypothesize that "liberal market economies" (LMEs)

Liberalism - neoliberalism - market fundamentalism: from the concept of freedom to the totalitarian dogma

Directory of Open Access Journals (Sweden)

V. I. Chelischev

2016-01-01

Full Text Available The article further describes the ideological, historical, socio-political and economic circumstances, responsible for the specific direction of a new form of the ideology of liberalism - contemporary liberalism (neo-liberalism. The special attention, along with the analysis of the ideas of the founder of original theory of the state intervention in the economic life of the society of John Maynard Keynes (1883-1946, is given to “neoliberal” economic constructions of an ideological orientation of Friedrich August von Hayek (1899-1992 and Milton Friedman (1912-2006, defenders of a liberal principle of self-regulation of economy, free from any regalements. The author, on the basis of the analysis of primary sources and examples from a political and social life of some States, shows that in theory the resurgence of liberalism in the form of neo-liberalism personified the idea of the priority of the individual to society and the State, the market - before planning and regulation, the human rights - before the power authority and the team. However in practice this revival was accompanied by displacement of accents and growth of ideological tendencies. Thus, theorists and practitioners of neo-liberalism lined up quite utopian model not only of economic, but also of social relations. Article details the mechanisms by which the theoretical constructions of economists-neoliberals were emasculated by politicians who gradually reduced them to the primitive and convenient theses, justifying any actions of the authorities. Over time, these points have become “undeniable truths”, through which neo-liberalism became dogmatic, and its economic credo has got obvious fundamentalist character, having turned to market dogma of totalitarian type.

Soheib Bencheikh: Liberal Model of the European Islam

Directory of Open Access Journals (Sweden)

Альбина Викторовна Михалева

2011-12-01

Full Text Available The article deals with socio-political views of one of the representatives of European Islam, popular in France religious leader and philosopher Soheib Bencheikh. Continuing to fulfill a function of «intellectual mediator», he has slightly lost his talent of the «excellent communicator» between different layers of French society. Meanwhile, liberal reformism has not exhausted its ideological and resource potential and interest in it will be retained. That is conditioned by both assimilation processes in the Europe and social instability in the Islamic world.

Liberalization of the natural gas market, public interests and regulations urge

International Nuclear Information System (INIS)

Pisuisse, C.S.

2004-01-01

Developments in the last two years showed that liberalization of the gas market comes with all kind of new and complex regulation. Examples are rules regarding supply permits, the introduction of a supplier of last resort and planning and building obligations for network operators. In the article an oversight of these rules has been given. The regulations are mainly based on public services interests, especially security of supply. It becomes clear that politicians on the one hand are in favour of liberalization, but on the other hand won't accept the accompanying risks for especially the smaller consumers. Security of supply has to be guaranteed under all circumstances. It is obvious that this layer of new rules results in an administrative burden for the parties on the market. Moreover, as a result of these rules the possibilities for real competition, which are already limited due to the special characteristics of the Gas market, have become less and less. In the mean time, the question arises whether it is still realistic to speak of liberalization. It is also doubtful whether the households will still benefit from the possibilities of freedom of choice. Within the coming months the so called second Gas directive has to be implemented. Members of Parliament should realize that, during this implementation process there is no room left to build in additional certainties for consumers [nl

The Norwegian state as a natural gas entrepreneur : the impact of the EEA agreement and EU gas market liberalization

Energy Technology Data Exchange (ETDEWEB)

Austvik, Ole Gunnar

2009-07-01

This study focuses on how the European Economic Area (EEA) agreement and European Union (EU) natural gas market liberalization processes have challenged and changed the Norwegian state's natural gas entrepreneurship since the 1990s. The point of departure is that the Norwegian petroleum industry was developed as a political entreprise by the Norwegian state from the early 1970s. As a political entrepreneur, the state was engaged in the industry as production entrepreneur, as well as being a political and economic risk-taker. As a political entrepreneur the state could define social goals for activities and use regulative, legal and political measures to reach goals that private entrepreneurs do not have at their disposal. As a political entrepreneur the Norwegian state did not limit itself to the regulation of activities on the Norwegian Continental Shelf (NCS), but instead took on the role of innovator and leader of economic change and development. Natural gas activities and their relations to the infantile, imperfect and international European gas market demanded additional political efforts compared to oil activities. The Norwegian state used several instruments in a combination to reach goals set up: regulations, direct participation and political interventions, and preferential treatment of Norwegian companies. Policies were developed with high ambitions with regard to national sovereignty and control of the industry, an optimal resource management, and to capture as much rent as possible. In addition to being the regulator, law and policymaker the state became itself an industrial actor, and in periods a substantial financial contributor to developments. Government policy and industrial structures changed as the industry matured, and markets, international affairs and technology changed. The state not only ensured the establishment of the industry, but maintained its role as a driving force looking after and contributing to change and evolution, to the

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

Practical consequences of the liberalization of the natural gas market in the Netherlands

International Nuclear Information System (INIS)

Koenis, F.T.C.; Rouwhorst, H.; Kop, L.

2000-01-01

In four articles a first overview is given of the consequences for the Dutch natural gas industry of the liberalization of the natural gas market in Europe. In the first article attention is paid to the consequences for the organization and operation of the natural gas sector. In article 2 some (new and mainly financial) services that can be offered by natural gas trading companies in a liberalized market are discussed. In the third article technical consequences for the organization and management of the natural gas distribution system are outlined, while in article 4 the subject is the development of an open standard for gas meters

Do 'liberal market economies' really innovate more radically than 'coordinated market economies'? Hall and Soskice reconsidered

NARCIS (Netherlands)

Akkermans, Dirk; Castaldi, Carolina; Los, Bart

In Varieties of Capitalism: The Institutional Foundations of Comparative Advantage, Peter A. Hall and David Soskice (H&S) argue that technological specialization patterns are largely determined by the prevailing "variety of capitalism". They hypothesize that "liberal market economies" (LMEs)

Kyoto and liberalization ongoing transformation of the energy market

International Nuclear Information System (INIS)

Minett, S.

1998-01-01

COGEN Europe believes that the single most important influence on the electricity sector in the future will be the policy response to climate change and that cogeneration offers one of the very best, prospects for cutting emissions in the power sector. In the EU, cogeneration was put at the head of the list of Policies and Measures laid down before Kyoto as the means of achieving its then progressive target of a 15% reduction in emissions by 2010 over 1990. COGEN Europe has estimated that EU-15 as a whole could reach a 30% cogeneration share of total electricity production by 2010. Indeed, three of the 15 countries have already reached 30% (Denmark, The Netherlands and Finland). On a conservative basis this would save 221 Mt of CO 2 /yr by 2010, or 46% of the EU 15% negotiating target agreed in 1997. This also represents 30% of the 'gap' between the achievement of the 15% target and the 8% increase in emissions anticipated for 2010 in the absence of abatement measures. Most, if not all, of these savings would be based on zero or negative cost investments. COGEN Europe supports the trend towards liberalization and the European Commission's efforts to introduce competition into electricity and gas markets for the simple reason that they provide the best means to remove market and monopoly barriers to the development of high efficiency cogeneration. This paper presents a COGEN Europe vision for meeting and overcoming the challenges of global climate change - and some suggestions for governments which can help them achieve that elusive double dividend: environmental improvement and economic competitiveness. Governments should: where possible use the market to achieve your environmental objectives; avoid detailed regulation; avoid subsidizing pollution; set clear and ambitious CO 2 objectives; redouble political pressure to achieve international consensus on internalization of environmental costs

Experiences of small-scale consumers in the market for natural gas. Visible results of liberalization

International Nuclear Information System (INIS)

Neeleman, J.

2005-01-01

The gas market, as the electricity market, has been fully liberalized for all consumers in the Netherlands since 1 July 2004. Was the market ready for this? What main changes have taken place? Health care institutions in the province of Zeeland have now had their first experiences with the liberalized gas market and the outcome has been a saving of 17%. A study of the tendering process for 86 care institutions reveals that not all the gas supply companies were ready to sign contracts with a combination of smaller and larger consuming organizations. Another conclusion is that these consumers expended some effort learning about the gas market, which appears to be nontransparent to outsiders. The latter is a striking observation because costs are the most important criterion for institutional consumers [nl

A clash of civilizations? Examining liberal-democratic values in Turkey and the European Union.

Science.gov (United States)

Dixon, Jeffrey C

2008-12-01

Turkey's proposed entry into the European Union (EU) has been undermined by Europeans' perceptions of Turkish-European cultural differences, particularly regarding the liberal-democratic values that the EU promotes (democracy, rule of law, and respect for and appreciation of minority/human rights). Yet, cross-national research on values has not focused on Turkey, the EU, and these liberal-democratic values, leaving assumptions of cultural differences and their explanations untested. Through analyses of World and European Values Survey data (1999-2002), this article asks whether people in Turkey have the same values regarding democracy, rule of law (versus religious and authoritarian rule), and minority/human rights as people in EU member and candidate states (as of 2000)? What factors explain these values? I find that people in Turkey support democracy to the same extent as people in EU member and candidate states, but people in Turkey are more supportive of religious and authoritarian rule and are less tolerant of minorities. Although the 'clash of civilizations' thesis expects liberal values to be ordered according to countries' religious traditions, with western Christian the most supportive and Islamic the least, only for tolerance of minorities values is this pattern found. Instead, economic development most consistently explains differences between Turkey and EU member and candidate states in support for these values. I conclude with calls for theoretical refinement, particularly of the clash of civilizations thesis, along with suggestions for future research to examine more Muslim and Orthodox countries; I discuss the debate over Turkey's EU entry.

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

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

General Equilibrium Analysis of Electricity Market Liberalization in Singapore: A Comparative Study

Directory of Open Access Journals (Sweden)

Fenglong XIAO

2011-12-01

Full Text Available The liberalization in electricity market in Singapore has being undertaken for more than 15 years. This paper evaluates the influence of competition policies by computable general equilibrium (CGE model. Instead of the direct measurement of the impact of competition policy, the benefit of liberalization is reflected by the simulation of a hypothetical regulatory condition. Comparing to the regulatory scenario, simulation result implies the current liberalization raises GDP and exchange rate significantly, but also leaves the tradeoff between higher national income and lower consumer welfare to government. If such choice of economic policy is necessary for political demand, a formal legal framework is required to enforce the restoration of the economy from regulatory restrictions.

Liberal power Europe

NARCIS (Netherlands)

Wagner, W.M.

2017-01-01

The European Union is best understood as a liberal power – as an actor that is composed of liberal democracies whose interests, identities and institutions motivate and constrain its policy. The conceptualization of the EU as a liberal power helps to overcome three shortcomings of alternative

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

The integration of the periodic production in the liberalized electric power markets: from the technic expenditures to the economic taxes imposed by the operating rules of the markets

International Nuclear Information System (INIS)

Menanteau, Ph.; Finon, D.; Lamy, M.L.

2003-03-01

In the framework of the climatic change and the energy supply safety, the european directive aims to promote the renewable energy production in Europe. Some of the renewable energy sources, as the wind power or the micro-hydroelectric power, are naturally periodic. Their introduction in the electric networks will create problems because of this periodic nature, problems which are new for the electric network producers and managers. These problems generate technical expenditures, which may be compensate by the economic penalties of the electric power market operating. In this context the document details the expenditures associated to the periodicity, the economic penalties by an analysis of the british market and analyses the possibilities to limit these economic penalties in order to reduce the conflicts between the electric market liberalization and the promotion of the renewable energies development. (A.L.B.)

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...

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...

The impacts of market liberalization on innovation processes in the electricity sector

International Nuclear Information System (INIS)

Markard, J.; Truffer, B.; Imboden, D.M.

2004-01-01

Market liberalization has triggered fundamental changes in the electricity sector with far-reaching economic, technical, organizational and ecological consequences. The paper examines how electricity market liberalization has influenced innovation processes at the level of electric utilities and in the electricity sector as a whole. The results are based on an empirical survey including two case studies, green power and fuel cells, in which utility innovation strategies were analysed. From the similarities in both cases and the aggregated effects of innovation strategies, we identify several indications for a general change of innovation processes in the sector: the innovation activity has increased, there is a greater variety of innovation projects, product innovations and organizational innovations have gained importance, innovation networks have become smaller and more specific, and the professionalism of innovation management is improving. (author)

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

Liberalization and regulation. European lessons and Colombian trends

Directory of Open Access Journals (Sweden)

Pedro Ignacio Bernal Forero

2010-06-01

Full Text Available This article reviews the consequences of liberalization and regulation processes on services of general interest in Europe, in the context of economic integration. It highlights the differences observed between network utilities like telecommunications, electricity and gas, on the one hand, and drinking water or services of a social nature, on the other hand. The article analyzes why the latter have enjoyed a rather special status when it comes to applying the rules of competition, and it discusses the legal treatment given by the European Commission to the public subsidies which these services receive. Finally, certain parallels have been drawn with public utilities in Colombia since the 1990s.

Update on Spain's oil market

International Nuclear Information System (INIS)

Whitaker, D.; Gutierrez, I.

1994-01-01

Since Spain's entry into the European Community a liberalisation of the oil industry has occurred culminating in two oil sector reform laws passed in 1992. While competition has increased, a return to the free-market policies which held sway before 1927 has not happened. Rather, three large companies dominate the Spanish oil market, with continuing input from government towards liberalization, if somewhat slowly. This paper describes recent changes and examines factors which limit liberalization policies. (UK)

Demand response in liberalized electricity markets - the Nordic case

International Nuclear Information System (INIS)

Bjoerndal, Mette; Lund, Arne-Christian; Rud, Linda

2005-01-01

The liberalization of the Nordic electricity markets started with the deregulation of the Norwegian market, and the later inclusion of Sweden, Denmark and Finland in The Nord Pool area has provided a truly international marketplace, where prices are quoted for all the Nordic countries except Iceland. The structure of the Norwegian supply side was a favorable starting point for the liberalization process with many independent (hydropower) producers and, following the Energy Act of 1991, the vertical separation of competitive production on the one hand and regulated transmission / distribution one the other hand (implemented as a requirement of separation of financial accounts). Moreover, since the mid 1990s (unregulated) retail competition has provided market based price-signals to customers, even to individual households. In this paper we will focus on the potential benefits of demand flexibility in order to enhance the performance of the electricity market in attaining optimal operation and development of the electricity system. These benefits will depend on the price elasticity of the demand. However, whether it is possible to act on price changes also depends on the information provided to and from the customers. Especially for short run flexibility, this may require two way communication devises for larger customer groups, which raises questions like who is to pay for the investments needed, and who will benefit from them. Demand response also depends on the marginal signals resulting from the different contracts offered to the customers. Today this includes ''variable'' price, spot price (based on Nord Pool Elspot) and fixed price contracts. Customer flexibility depends on the possibility of substitution for instance to other fuels / alternative energy provisions. Finally, flexibility will differ between customer classes, for instance households, industry, power intensive industry etc. In this paper we investigate demand response and customer flexibility in

Trade Liberalization and Women's Integration into National Labor Markets: A Cross-Country Analysis

Science.gov (United States)

Meyer, Lisa B.

2006-01-01

This paper examines the effects of trade liberalization and the risks associated with participation in the global trading system on women's integration into national labor markets. Using data from 1970 to 1995, I identify two global determinants of the female share of national labor markets: trade openness and transnational corporate penetration.…

Transmission network price setting model for the promotion of liberalized market for the power industry in Taiwan

International Nuclear Information System (INIS)

Chen, Po-Han; Tsay, Ing-Sheng

2017-01-01

Currently, privatized state-owned Taiwan Power Company (Taipower) has a monopoly over energy production and vertically integrates the electricity market in Taiwan. Because of the geographical environments, economies of scales, social structures, and diverse political ideologies in Taiwan, the electricity market exhibits unique characteristics. To maximize the benefits of electricity liberalization, future market operations must not only involve conventional considerations for economic dispatch; overall social welfare should be included by incorporating the perspectives of fairness, responsibility, and the environment, and key electrical grid operations should be executed appropriately. We responded to the future market liberalization planning by including factors, such as, environmental effects and government policies, in addition to electrical line construction, and operation cost factors involved in the entire operational model planning. On the basis of responsibility sharing, this study used the simulated-responsibility three-phase pricing method. The proposed pricing method is expected to help attain the following policy goals: 1.Achieving reasonable power price allocations; 2.Simultaneously ensuring fair and efficient electric grid operation; 3.Changing the operation orientations of the power plants and electrical grid facilities; and 4.Increasing the rate of renewable energy use. - Highlights: • Maximization of the electricity liberalization benefits in Taiwan is studied. • A simulated-responsibility three-phase pricing method is proposed and its advantages are discussed. • Future liberalization of the electricity market in Taiwan is emphasized.

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

Aspect of the electrical power market in the condition on liberalization

International Nuclear Information System (INIS)

Nikolov, Marjan

2003-01-01

This paper comprise several topics of the electricity market area as investments and costs, production and efficiency, general issues on the market liberalization, with a discussion on the Macedonian specifics, as well as the market forces that drives the electricity trade. In this paper the main topic will be on the production and applied economics in this heavily engineering area. In the last years the traditional engineering approach requires synergy and wider approach including pure economic methods and techniques in order to derive efficient strategic decisions. The purpose here will be to illustrate simple examples of the economic thought in this area. (Original)

Aspect of the electrical power market in the condition on liberalization

International Nuclear Information System (INIS)

Nikolov, Marjan

2004-01-01

This paper comprise several topics of the electricity market area as investments and costs, production and efficiency, general issues on the market liberalization, with a discussion on the Macedonian specifics, as well as the market forces that drives the electricity trade. In this paper the main topic will be on the production and applied economics in this heavily engineering area. In the last years the traditional engineering approach requires synergy and wider approach including pure economic methods and techniques in order to derive efficient strategic decisions. The purpose here will be to illustrate simple examples of the economic thought in this area. (Original)

Which way for Europe's gas storage market?

International Nuclear Information System (INIS)

Hureau, Geoffroy; Cornot-Gandolphe, Sylvie

2013-06-01

This slide show presents in a first part the 2013 Situation of the European gas storage market (Capacity, Gas Demand vs. Gas Storage, Spreads and Volatility, LNG effect, Storage Price, Utilization of Storage Facilities, Security of supply). The future of European Gas Demand and Supply are presented in a second part (Demand and Supply Factors, Market Liberalization, Estimates of European UGS Needs by 2030, Planned Working Gas Capacities in Europe)

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

International Nuclear Information System (INIS)

Diongue, A.K.

2005-10-01

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

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)

Liberalization of local public services and modalities of local action in the liberalized sectors

Directory of Open Access Journals (Sweden)

Joaquin Tornos Mas

2017-09-01

Full Text Available In recent years we have witnessed a process of increasing liberalization of public services, which means returning economic activities that had been excluded from the market. This process has been less at the local level, but there have also been cases of liberalization of local public services, such as funeral services. This paper examines these liberalization processes and their consequences, analyzing what powers municipalities can exercise in relation to liberalized services, which, despite their return to the market, remain services of general interest.

How to Organize Electricity Savings in a Liberalized Electricity Market

DEFF Research Database (Denmark)

Nørgaard, Jørgen

1998-01-01

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

Expensive, Frustrating and Perilous: Lessons Learned from Charting New Waters in Liberalized Markets

Energy Technology Data Exchange (ETDEWEB)

Hastings, Matthew T.

2007-07-01

By 2030 utilities will have spent billions in investment to maintain, upgrade and expand their infrastructure. To attract investment utilities operating in liberalized markets will increasingly be required to report, perform and operate in ways that are very different from the current. Market liberalization, or deregulation, of the electricity sector has been an ongoing process in the United States for almost two decades. Every single element of utility management, operations and finance has changed dramatically and irrevocably. Building and maintaining investor confidence in the utility sector will be an ongoing challenge for every individual player. The US experience has demonstrated that open markets are much less tolerant of management missteps and failures to reach stated goals and objectives. The US experience has resulted in a range of ''lessons learned'' that will be of interest to market players as they develop and implement strategies to build and maintain competitive position. This paper discusses elements of the US experience, and the pursuant opportunities for international players to benefit from, the expensive and often times painful ''lessons learned''. (auth)

The economics of new nuclear power plants in liberalized electricity markets

International Nuclear Information System (INIS)

Linares, Pedro; Conchado, Adela

2013-01-01

Even after Fukushima, the nuclear debate is strong in many countries, with the discussion of its economics being a significant part of it. However, most of the estimates are based on a levelized-cost methodology, which presents several shortcomings, particularly when applied to liberalized electricity markets. Our paper provides results based on a different methodology, by which we determine the break-even investment cost for nuclear power plants to be competitive with other electricity generation technologies. Our results show that the cost competitiveness of nuclear power plants is questionable, and that public support of some sort would be needed if new nuclear power plants are to be built in liberalized markets. - Highlights: • We propose an alternative more realistic than LEC for the evaluation of the economics of nuclear electricity. • Our results show that the cost competitiveness of nuclear power plants is questionable. • Building nuclear power plants will require public support, particularly regarding risk management. • These results are less optimistic than previous, LEC-based, estimates

Policy instruments for regulating the development of wind power in a liberated electricity market

Energy Technology Data Exchange (ETDEWEB)

Morthorst, P E [Risoe National Lab., Roskilde (Denmark)

1999-03-01

Wind power is facing the dual challenge of entering a liberated electricity market and at the same time being one of the main contributors to the reduction of greenhouse gas emissions. The paper analyses the importance of the existing standard payment schemes in the development of wind power, and how this might be affected by the introduction of a liberated electricity market. The existing Danish standard payment scheme has strongly encouraged investments in wind turbines. It has been and still is very effective in promoting a high wind power capacity development, but at a high economic cost to the Danish Government. Different models of conditions for wind power at an electricity exchange do exist, but all seem to introduce a higher risk to the individual wind turbine owner than seen with the present payment scheme. In short it might be stated that going from the existing standard payment system to a market based system, the political uncertainty is converted to a market risk for the individual wind turbine owner. (au)

Policy instruments for regulating the development of wind power in a liberated electricity market

International Nuclear Information System (INIS)

Morthorst, P.E.

1999-01-01

Wind power is facing the dual challenge of entering a liberated electricity market and at the same time being one of the main contributors to the reduction of greenhouse gas emissions. The paper analyses the importance of the existing standard payment schemes in the development of wind power, and how this might be affected by the introduction of a liberated electricity market. The existing Danish standard payment scheme has strongly encouraged investments in wind turbines. It has been and still is very effective in promoting a high wind power capacity development, but at a high economic cost to the Danish Government. Different models of conditions for wind power at an electricity exchange do exist, but all seem to introduce a higher risk to the individual wind turbine owner than seen with the present payment scheme. In short it might be stated that going from the existing standard payment system to a market based system, the political uncertainty is converted to a market risk for the individual wind turbine owner. (au)

Policy instruments for regulating the development of wind power in a liberated electricity market

International Nuclear Information System (INIS)

Morthorst, P.E.

1999-01-01

Wind power is facing the dual challenge of entering a liberated electricity market and at the same time being one of the main contributors to the reduction of greenhouse gas emissions. The paper analyses the importance of the existing standard payment schemes in the development of wind power, and how this might be affected by the introduction of a liberated electricity market. The existing Danish standard payment scheme has strongly encouraged investments in wind turbines. It has been and still is very effective in promoting a high wind power capacity development, but at a high economic cost to the Danish Government. Different models of conditions for wind power at an electricity exchange do exist, but all seem to introduce a higher risk to the individual wind turbine owner than seen with the present payment scheme. In short it might be stated that going from the existing standard payment system to a market based system, the political uncertainty is converted to a market risk for the individual wind turbine owner. (author)

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

Financial liberalization and stock market cross-correlation: MF-DCCA analysis based on Shanghai-Hong Kong Stock Connect

Science.gov (United States)

Ruan, Qingsong; Zhang, Shuhua; Lv, Dayong; Lu, Xinsheng

2018-02-01

Based on the implementation of Shanghai-Hong Kong Stock Connect in China, this paper examines the effects of financial liberalization on stock market comovement using both multifractal detrended fluctuation analysis (MF-DFA) and multifractal detrended cross-correlation analysis (MF-DCCA) methods. Results based on MF-DFA confirm the multifractality of Shanghai and Hong Kong stock markets, and the market efficiency of Shanghai stock market increased after the implementation of this connect program. Besides, analysis based on MF-DCCA has verified the existence of persistent cross-correlation between Shanghai and Hong Kong stock markets, and the cross-correlation gets stronger after the launch of this liberalization program. Finally, we find that fat-tail distribution is the main source of multifractality in the cross-correlations before the stock connect program, while long-range correlation contributes to the multifractality after this program.

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.

Postmodern liberalism

Directory of Open Access Journals (Sweden)

Kuljanin Branimir

2013-01-01

Full Text Available Modern liberalism is fundamentally different from the classical to the extent to which the post(countermodern is different from the modern. A shift occurred in the late sixties, at the time of the student movement and the 'Prague Spring'. In the late eighties and early nineties, they promised a life in freedom and entry into the 'European Home', into the 'family of European peoples'. Socialist countries of the Eastern Europe entered the era of 'transition', peaceful movement towards capitalism. Yesterday's Marxists and communists became liberals over night. Nowadays, when the whole world is in a deep crisis, including the lauded West, it is high time to consider where we are going and where we are. What is modern liberalism, an ideology governing the minds in our region for more than twenty years, is an issue we will discuss in this paper.

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

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

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.

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

The Greek Electricity Market Reforms: Political and Regulatory Considerations

International Nuclear Information System (INIS)

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

2013-01-01

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

The Effect of Pricing and Advertising on Customer Retention in a Liberalizing Market

NARCIS (Netherlands)

Polo, Yolanda; Javier Sese, F.; Verhoef, Peter C.

2011-01-01

This study investigates the drivers of customer retention in a liberalizing market. The authors address key, retention issues that allow them to contribute to existing retention research in several critical ways. They (1) examine the effects of pricing and mass advertising, (2) account for (new

The Effect of Pricing and Advertising on Customer Retention in a Liberalizing Market

NARCIS (Netherlands)

Polo, Yolanda; Javier Sese, F.; Verhoef, Peter C.

This study investigates the drivers of customer retention in a liberalizing market. The authors address key, retention issues that allow them to contribute to existing retention research in several critical ways. They (1) examine the effects of pricing and mass advertising, (2) account for (new

Electric power market liberalization and demand-side management (DSM); Denryoku shijo jiyuka to DSM

Energy Technology Data Exchange (ETDEWEB)

Yajima, M. [Central Research Institute of Electric Power Industry, Tokyo (Japan)

1997-01-30

This paper explains effects of market liberalization which will lead to introducing competition in electric power business on demand-side management (DSM), by quoting examples mainly in the United States. The paper also describes the future outlook thereon. The DSM program in the United States has expanded for the period between 1989 through 1994. However, during the last few years, the movements of electric power market liberalization have come to force electric power business entities to change their management strategies and reduction in expense. This situation has resulted in reduction in the DSM budget. Future DSM programs are thought to diversify into the following types: a program such as load management which has effect of reducing expenses and investments in investment time periods of 5 to 10 years, a program effective for users such as high-efficiency motors which have effects of reducing expenses and improving efficiency in investment time periods of 3 to 5 years, a program which will be effective enough if market barriers are removed after the market conversions, but requires subsidies and purchase guarantees, and a social program intended for environmental effects and low-income users. 4 refs., 1 tab.

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.

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....

A strategic model of European gas supply (GASMOD)

International Nuclear Information System (INIS)

Holz, Franziska; Hirschhausen, Christian von; Kemfert, Claudia

2008-01-01

This paper presents a model of the European natural gas supply, GASMOD, which is structured as a two-stage-game of successive natural gas exports to Europe (upstream market) and wholesale trade within Europe (downstream market) and which explicitly includes infrastructure capacities. We compare three possible market scenarios: Cournot competition in both markets, perfect competition in both markets, and perfect competition in the downstream with Cournot competition in the upstream market (EU liberalization). We find that Cournot competition in both markets is the most accurate representation of today's European natural gas market, where suppliers at both stages generate a mark-up at the expense of the final customer (double marginalization). Our results yield a diversified supply portfolio with newly emerging (LNG) exporters gaining market shares. Enforcing competition in the European downstream market would lead to lower prices and higher quantities by avoiding the welfare-reducing effects of double marginalization. Binding infrastructure capacity restrictions strongly influence the results, and we identify bottlenecks mainly for intra-European trade relations whereas transport capacity in the upstream market is globally sufficient in the Cournot scenario. (author)

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.

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.)

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

The impact of electricity market liberalization in Turkey. 'Free consumer' and distributional monopoly cases

International Nuclear Information System (INIS)

Bahce, Serdal; Taymaz, Erol

2008-01-01

Electricity sector has grown substantially in Turkey since the early 1960s as a result of rapid industrialization and urbanization. The vertically integrated state-owned company had a legally established monopoly on the generation, transmission and distribution of electricity in Turkey. With the support and encouragement of international organizations like the World Bank, Turkey has initiated a comprehensive program to liberalize and privatize the electricity market in 2001. The liberalization of the electricity market in Turkey started in the distribution side of the market. The distribution network was divided into 21 distribution regions and in each of these, separate - initially state-owned - distribution companies have been authorized to distribute and sell electricity. The plan envisaged to complete privatization of all distribution companies until the end of 2006. This study compares the welfare implication of privatization of the distribution networks by comparing two extreme cases, a pure regional distributional monopoly case and a representative pure 'free' consumer case, with a benchmark case of administered price regulation. For this purpose, we develop a simulation model of the Turkish electricity system, and use the data on generation and distribution costs. Our simulation analysis shows that substantial welfare losses occur if the distributional companies behave as regional monopolists. Our findings reiterate the importance of regulation and market design. (author)

Growth strategies of electric utilities in context of deregulation and liberalization of electricity market

Directory of Open Access Journals (Sweden)

Maria Đogić

2017-01-01

Full Text Available This paper identifies the growth strategies adopted by the electric utilities sector in the context of changes resulting from the deregulation and liberalization of the electricity market. Strategies pursued by the electric utilities sector were rarely the subject of research in the field of strategic management despite the fact that electricity is an indispensable element of everyday life and the economy as a whole. Therefore, a case study of the largest incumbent electric utilities in the Republic of Croatia, Slovenia, Bosnia and Herzegovina, Serbia, Montenegro, and Macedonia has been conducted, and differences in the degree of market liberalization and core features of these companies have been noted. Research findings have shown that the degree of deregulation can affect the growth strategies of electric utilities. In those countries where the degree of deregulation is lower, electric utilities focus on the domestic market. On the other hand, a higher level of deregulation enables electric utilities to achieve their growth through diversification or innovation. Given the fact that the analyzed electric utilities are operating within relatively small economies, they cannot compete with electric utilities in developed countries, and, apart from international electricity trading, are mostly focused on their domestic markets.

The power to choose. Demand response in liberalized electricity markets

International Nuclear Information System (INIS)

2003-01-01

Highly volatile electricity prices are becoming a more frequent and unwanted characteristic of modern electricity wholesale markets. But low demand elasticity, mainly the result of a lack of incentives and consumers' inability to control demand, means that consumer behaviour is not reflected in the cost of energy. This study analyses the impact of price-responsive demand and shows how pricing, policy and technology can be used to inform consumer behaviour and choice. Informed choice and market-based valuation of electricity supply will ensure liberalized markets are competitive, efficient, less volatile and able to provide long term security of supply. Significant benefits will occur even if only 5% of customers become responsive to price-incentives and information. And customers will respond to well designed programs, thereby developing a role in ensuring efficient price formulation for electricity. This study analyses the economic, efficiency and security benefits and identifies the changes in electricity tariffs and the network infrastructure needed to achieve greater demand response

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

International Nuclear Information System (INIS)

Gampert, Markus; Madlener, Reinhard

2011-01-01

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

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.)

Consequences of Market Liberalization for the Operators of the Dairy Subsector in Morocco

Directory of Open Access Journals (Sweden)

M. T. Sraïri

2007-01-01

Full Text Available The Moroccan dairy subsector has gone through an eventful recent history. The initial situation, in the early 1970s, was characterized by a high level of State regulation. At that time, there was an increasing domestic demand associated to a low availability of milk products; therefore State authorities encouraged local production and processing. But at the beginning of the 1980s, a series of structural adjustment measures were implemented and all subsidies were progressively suppressed. These sudden successive changes seriously impacted on the organization of the dairy subsector, particularly at the level of dairy cattle farms, by markedly modifying production practices. Currently, another significant stage for the Moroccan dairy subsector is the ongoing negotiation of free trade agreement with the European Union. This will lead to the end of protection for domestic dairy products and to increased competition between local and imported dairy products. In a context of market liberalization associated with the price of agricultural inputs rising on international markets, it will be essential to upgrade productive tools and policies of the subsector, which will have consequences on all operators along the commodity chain. This will be vital for the upholding of milk production, collection and transformation activities in Morocco, under conditions favorable to their sustainable development: pursuit of optimal milk yield and quality, efficient irrigation water productivity, and fair distribution of incomes generated by the subsector to all operators, with an aim to adjust the price to the purchase power of consumers.

The Spanish retail petroleum market: New patterns of competition since the liberalization of the industry

International Nuclear Information System (INIS)

Bello, Alejandro; Cavero, Sandra

2008-01-01

In this paper, we study the recent development of the Spanish automotive fuels market, in the context of a long process of liberalization and competition. Our aims are twofold. First, to overview the market's current patterns of competition, while taking into account the political, structural and strategic aspects that have marked the industry's recent evolution. Second, to study in depth one competitive strategy that nowadays significantly influences competition and final prices, the vertical relationships between operators and service stations. Our analysis draws attention to several indicators that may demonstrate the success of the opening and liberalization process. Increased levels of competition have stimulated the sector's growth, development and modernization, and given national firms an excellent platform for competing with newcomers. Furthermore, studying the vertical agreements has produced interesting results. We have found that relative price differences among brands increase in line with perceived quality differences, and that the vertical separation of refineries and retailers eases price competition in the final market. The empirical evidence was backed up with a database of 4164 Spanish service stations. (author)

Energy and competition: research on the legal changes induced by the liberalization of the electricity and gas sectors

International Nuclear Information System (INIS)

Lemaire, Ch.

2003-01-01

The liberalization of the electricity and gas sectors, as triggered by the European Community right, has generated deep juridical mutations. These mutations are, first, linked with market organization. In front of the diversity of the national organizations in both sectors, the European Community right could not impose a unique model of liberalization. It has established a set of common rules and principles to the different member states with the aim of ensuring the development of a competitive market. The introduction of competition gives access to the different activities of these sectors to the newcomers. However, because of their characteristics, competition cannot apply uniformly to the overall activities in concern. Two logics, one of natural monopoly, and the other of competition, will thus cohabit together. Moreover, the introduction of competition is managed. This management is characterized by the search for a new equilibrium between competition and general interest imperatives and by the creation of a new regulation authority at the institutional level. These mutations are also linked with market operation. Liberalization leads to a multiplication and an increase of the complexity of the contractual relations between the operators, the control of which is fundamental to ensure a good market operation. This mutation of operations is followed by a mutation of operators. Those are submitted to a dissociation trend of their activities in order to prevent discriminations and to fight against cross subventions. On the other hand, the operators' mutation shows a huge recombination movement which is characterized by a multiplication of concentration operations, leading to a remodeling of the market structure. (J.S.)

Generic Virtual Power Plants: Management of Distributed Energy Resources under Liberalized Electricity Market

DEFF Research Database (Denmark)

You, Shi; Træholt, Chresten; Poulsen, Bjarne

2009-01-01

The emergence of Virtual Power Plant (VPP) can be attributed to the major boost of distributed energy resources (DER), which satisfies the changing needs of modern society on energy industry. Based on this concept, DER units disregarding the differences in each individualtechnology are loosely...... aggregated with a unique interface to the external grid and energy market. This paper gives a broad overview of state-of-the-art VPP concepts and proposes a detailed generic VPP (GVPP) model running in liberalized electricity market environment. An attempt is made to provide an outline of the main functions...

A Process Perspective on Regulation: A Grounded Theory Study into Regulatory Practice in Newly Liberalized Network-Based Markets

NARCIS (Netherlands)

Ubacht, J.

The transition from a former monopolistic towards a more competitive market in
newly liberalized network-based markets raises regulatory issues. National Regulatory Authorities (NRA) face the challenge to deal with these issues in order to guide the transition process. Although this transition

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.

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

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

International Nuclear Information System (INIS)

Anon.

1993-10-01

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

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

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

Outsiderness and Participation in Liberal and Coordinated Market Economies

Directory of Open Access Journals (Sweden)

Emanuele Ferragina

2017-01-01

Full Text Available The number of labour market outsiders in Europe has dramatically increased, especially among the youth, potentially influencing social and political participation. Using logistic regressions and comparable survey data – the British Household Panel (BHPS and the German Socio-Economic Panel (GSOEP – we connect insights drawn from Varieties of Capitalism and dualization literature with an investigation of individual level outcomes in Britain and Germany. First, we disentangle the impact of skills on outsiderness among the overall population and the youth. Second, we analyse the influence of skills and outsiderness on peo-ple’s social and political participation. We suggest that skills matter in protecting individuals from labour market outsiderness, but they do so in different ways across liberal and coordinated market economies and age groups. While the possession of specific skills reduces the likelihood of being a labour market outsider among young people, it has the opposite effect on political participation. In contrast, education fosters participation but does not reduce the risk of becoming an outsider in the same age cohort. Moreover, although there is no difference between insiders and outsiders when it comes to political par-ticipation, being an outsider may reduce social participation. Finally, young people are more likely to be excluded from social and political participation in Britain than in Germany as a consequence of different welfare and socio-economic systems

Impacts of a liberalization in the USA market for Frozen Concentrated Orange Juice: why Florida's producers are so afraid?

Directory of Open Access Journals (Sweden)

Paulo Sérgio Fracalanza

2007-12-01

Full Text Available This study aims at examining the resource allocation and welfare implications of the reduction of barriers in the United States market for Frozen Concentrated Orange Juice (FCOJ imported from Brazil. The present paper is organized as follows: section 2 presents an overview of the main features of the market and current trade regime for orange juice, as well as the possible impacts of liberalization within FTAA and with the European Union; section 3 describes the partial equilibrium model of imperfect substitute goods used to estimate the impact of trade liberalization in the United States, on prices and quantities and on welfare; in section 4 two possible scenarios for liberalization are designed using the large country model. The last section summarizes the main conclusions.Este artigo tem por objetivo contribuir para o exame das implicações em termos da alocação de recursos e de bem-estar de uma eventual redução das barreiras tarifárias no mercado dos EUA de suco de laranja concentrado e congelado (FCOJ importado do Brasil. Depois da introdução, uma segunda seção apresenta uma visão geral das principais características do mercado e do regime de comércio para o suco de laranja, bem como uma avaliação preliminar dos possíveis impactos da liberalização comercial dentro do quadro de acordos comerciais com o NAFTA e com a União Européia. A terceira seção descreve os modelos de equilíbrio parcial com bens substitutos utilizados para o exame dos impactos em termos de quantidades, preços e bem-estar da redução tarifária nos mercados de FCOJ dos EUA. A quarta seção apresenta dois possíveis cenários da liberalização comercial usando o modelo de «país grande». A última seção sumariza os principais resultados.

Denmark between liberalism and nationalism

DEFF Research Database (Denmark)

Olsen, Tore Vincents; Mouritsen, Per

2013-01-01

What explains the restrictive turn towards immigrants in European countries like Denmark? Are countries returning to nationalism, or are they following a general European trend towards a perfectionist, even ‘repressive’ liberalism that seeks to create ‘liberal people’ out of immigrants? Recent...... developments in Danish policies of integration and citizenship, education and anti-discrimination suggest a combination of these two diagnoses. The current Danish ‘integration philosophy’ leaves behind a previous concern with private choice and equal rights and opportunities to emphasize other historical...

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

EU Gas Liberalization as a Driver of Gazprom's Strategies?

International Nuclear Information System (INIS)

Locatelli, C.

2008-01-01

Russia and Gazprom's natural gas strategies on the European market are the result of the uncertainties (volumes, prices) created by the liberalization of the EU natural gas market. The company's policy of asset acquisition, begun at the end of the 1990's, the multiplication of export networks, as well as the desire to preserve long-term contracts while benefiting from new contractual opportunities are all clear illustrations of this strategy. Yet the industrial and commercial strategies that Gazprom may develop cannot discount geopolitical issues. Therefore, Vladimir Putin's desire to place hydrocarbons at the service of his economic and foreign policies, notably by making use of large, internationalized companies owned primarily by the state, remains in the background. (author)

The Hopeful Liberal. Reflections on Free Markets, Science and Ethics

Directory of Open Access Journals (Sweden)

Giorgio Baruchello

2013-06-01

Full Text Available International crises and their dramatic outcomes notwithstanding, certain long-lived, deeply rooted beliefs are hard to die. Thus we keep hearing leading politicians and revered economic advisors who call for a return to growth and assert that structural reforms are imperative so that market confidence may be re-established and increased competitiveness achieved, without ever pondering upon the fact that these aims are precisely those that guided the global economy before the crisis. Could it ever be that endless growth, market confidence or competitiveness are misguided aims for the world’s economies? In these reflections of mine, I wish to address one of these resilient beliefs. Specifically, in the traditional philosophical way initiated by Socrates, I shall assess some logical knots arising from a hypothesis, that is, the commonplace liberal notion that the so-called “free market” possesses a unique capacity to generate prosperity.

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.)

On the Shift in Dominant Group Logics in Liberalizing Industries

DEFF Research Database (Denmark)

Sund, Kristian J.

2015-01-01

This paper explores the transition from logics of cooperation to logics of competition in strategic groups in liberalizing industries. I suggest that the notions of logics of action and dominant logic, usually associated with studies of institutional fields and organizational top management teams....... The Nordic postal industry presents many of the hallmarks of a strategic group, including pursuing similar strategies, regularly benchmarking against each other, and pursuing both competitive and cooperative strategies against and with each other. Until the end of the 1990s cooperation was maintained...... and competition avoided. However, the transformation from government agency to government-owned corporations, as well as the liberalization of the European postal market, initiated a transition from logics of cooperation to logics of competition within the strategic group. Then, in 2007, the logic of cooperation...

Prices and costs of irregularity in renewable resources in the liberalized electricity markets

International Nuclear Information System (INIS)

Menanteau, Ph.; Finon, D.

2004-01-01

The problems raised by incorporating irregular production are of a technical nature (risk of non-availability during peak demand, the requirements for additional reserves) but the electricity markets methods of operation impose economic penalties, which greatly exceed these additional technical costs. In this document, the authors examine the nature of the technical problems posed by irregularity of production and the additional costs resulting from this, and then analyse the origins of the economic penalties that the operation of liberalized electricity markets impose, taking in particular the example of the British market, the New Energy Trading Arrangement (NETA). It would appear that the markets' operating rules may conflict, in certain cases, with the targets for promoting electricity generation from renewable resources. Two types of solutions can therefore be envisaged: a set of rules to limit the impact on irregular production or collective handling of the adjustment to production from renewable resources as already exists in the Nordic electricity markets. (authors)

The EU internal market - a stake or a tool in European-Russian gas relations. The case of new member states gas

International Nuclear Information System (INIS)

Loskot-Stachota, Agata; Ramsay, William C.

2011-06-01

Since 2010 we have observed a new quality in EU energy policy. It is related to the European Commission's more or less direct engagement in the bilateral gas relations of a part of the new member states - Poland, Bulgaria and Lithuania - with Russia. Although the long term outcome of this activity of the EC is as yet unclear it seems to be important for several reasons. Firstly it might increase the possibilities of the enforcement of the EU's directives liberalising the internal gas market and specifically their implementation in individual gas agreements with suppliers from third countries (Gazprom). The consistency and determination of the EC in this field may be decisive for the future direction and depth of the liberalization of the EU gas market. Furthermore, present developments may lead to an increase in EU and specifically EC competence in the field of energy policy, especially its external dimension. So what lessons can we draw from recent Commission activities on the following issues: - Implementing EU gas market 2. and 3. liberalization packages and their main provisions - EU energy policy and its external dimension - recent developments and the EU's role - EU-Russia gas relations - where Russian and EU interests diverge. (authors)

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

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)

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

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?

Consequences and Policy Implications for University Students Who Have Chosen Liberal or Vocational Education in Canada: Labour Market Outcomes and Employability Skills.

Science.gov (United States)

Lin, Zeng; Sweet, Robert; Anisef, Paul

2003-01-01

Analyses suggest that the Canadian labor market favors vocational over liberal graduates with regard to employment status, income, job security, and job satisfaction. However, findings also indicate a surprising lack of difference between liberal and vocational graduates in their employability skills. Employers were nevertheless more likely to…

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...

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)

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

Impact of liberalization on private financed energy research. From scan to image. Final report

International Nuclear Information System (INIS)

De Graaff, R.J.; Dullens, M.; Benner, J.H.B.; Klaassen, M.A.W.; Schneider, H.C.

2000-01-01

The consequences of the liberalization process in the market for research and development in the Dutch electricity and natural gas sector are discussed. The main questions of the study are (1) what are the developments in those sectors, and (2) what can be learned from the experiences of liberalized energy markets in other countries and existing commercial petroleum and natural gas companies. The results are based on a literature study and interviews by telephone with experts in the field in seven countries (the 'scan-phase'). The results of the seven countries (Denmark, United Kingdom, Sweden, Germany, Norway, USA, Netherlands, and the European Union as a whole) are presented in the form of fact sheets. The most important leads and subjects were explored in detail by means of personal interviews with representatives from the energy sector in Sweden and England (the 'image-phase'). 52 refs

The Role of European Union Funds in Economic Development

Directory of Open Access Journals (Sweden)

Cristian PĂUN

2015-09-01

Full Text Available The European Union project initially started as a peaceful solution for war reconstruction in Europe. European countries decided to cooperate rather than compete in an aggressive way. At the beginning, this project supposed (involved market liberalization, trade barriers removals, market access improvement (initially for coal, steel, energy and, later, for all goods, services, workforce and capital. Unfortunately, in the last decades, all these Single Market facilities have been backed by redistributive schemes, protectionist mechanisms, social engineering, subsidies and facilities packed in so-called ”EU policies”. New ”European” institutions have been created, more and more funds have been involved to financially support this very complex redistributive intervention. The political dimension of the European Union project enhanced the economic dimension and constantly suffocated private markets and the economy. The “incomes” of the European Union that fuel its financial support are coming from taxes and/or inflation (better administered after the introduction of a Single Currency – the Euro. This paper will discuss the relevance of European Funds for economic development, especially for new members in this project.

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...

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.

Analysis of stock market returns of American and European stock market from the view of an American and a European investor

Directory of Open Access Journals (Sweden)

Oldřich Šoba

2005-01-01

Full Text Available The paper is focused on the analysis of stock market returns of American and European stock market for different investment horizon from the view of an American and European investor. The paper also partly resumes, in the part of analysis of USD/EUR exchange rate influence on market returns of mentioned stock market, research paper REJNUŠ, O., ŠOBA, O.: Changes in the USD/EUR exchange rate and their impact on the return of stock indexes from the viewpoint of a European and of an American investor. ACTA UNIVERSITATIS AGRICULTURAE ET SILVICULTURAE MENDELIANAE BRU- NENSIS, Vol. LII, No. 6, 2004, pg. 145–159, ISSN 1211-8516.The development of both American and European stock market is put on the development of two, structure-similar Standard & Poor’s exchange indexes, particularly S&P 500 and S&P Europe 350. According to the USD/EUR exchange rate, there were used the values published by FED, with the oldest data there were accepted the count ECU to EUR. The data were taken both from the weekly closing values of mentioned stock indexes and weekly closing values of USD/EUR exchange rate.The analysis was done with using the methods of quantification of „running market returns“ (recount to the average annual values of indexes from the view of both investors within the set investment horizon. The elemental statistical level characteristic – simple average, median and statistical characteristic of variability – standard deviation and variation coefficient were quantified from this time series of annual running market returns. The analysis, which was purposely oriented to six basic different long investment horizon (1 year, 2 years, 3 years, 5 years, 7 years, 10 years, has approved that in focused term of 1980–2004 the market returns of picked stock market from the view of both investors (American and European was generally higher in longer investment horizon than in the shorter investment horizon. The values of variation coefficient in

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...

Liberation of electric power and nuclear power generation

International Nuclear Information System (INIS)

Yajima, Masayuki

2000-01-01

In Japan, as the Rule on Electric Business was revised after an interval of 35 years in 1995, and a competitive bid on new electric source was adopted after 1996 fiscal year, investigation on further competition introduction to electric power market was begun by establishment of the Basic Group of the Electric Business Council in 1997. By a report proposed on January, 1999 by the Group, the Rule was revised again on March, 1999 to start a partial liberation or retail of the electric power from March, 2000. From a viewpoint of energy security and for solution of global environmental problem in Japan it has been decided to positively promote nuclear power in future. Therefore, it is necessary to investigate how the competition introduction affects to development of nuclear power generation and what is a market liberation model capable of harmonizing with the development on liberation of electric power market. Here was elucidated on effect of the introduction on previous and future nuclear power generation, after introducing new aspects of nuclear power problems and investigating characteristic points and investment risks specific to the nuclear power generation. And, by investigating some possibilities to development of nuclear power generation under liberation models of each market, an implication was shown on how to be future liberation on electric power market in Japan. (G.K.)

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

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.

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)

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

International Nuclear Information System (INIS)

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

2012-01-01

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

A three-stage short-term electric power planning procedure for a generation company in a liberalized market

International Nuclear Information System (INIS)

Nabona, Narcis; Pages, Adela

2007-01-01

In liberalized electricity markets, generation companies bid their hourly generation in order to maximize their profit. The optimization of the generation bids over a short-term weekly period must take into account the action of the competing generation companies and the market-price formation rules and must be coordinated with long-term planning results. This paper presents a three stage optimization process with a data analysis and parameter calculation, a linearized unit commitment, and a nonlinear generation scheduling refinement. Although the procedure has been developed from the experience with the Spanish power market, with minor adaptations it is also applicable to any generation company participating in a competitive market system. (author)

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.

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)...

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

Carbon Pricing, Power Markets and the Competitiveness of Nuclear Power

International Nuclear Information System (INIS)

2011-01-01

This study assesses the competitiveness of nuclear power against coal- and gas-fired power generation in liberalized electricity markets with either CO 2 trading or carbon taxes. It uses daily price data for electricity, gas, coal and carbon from 2005 to 2010, which encompasses the first years of the European Emissions Trading System (EU ETS), the world's foremost carbon trading framework. The study shows that even with modest carbon pricing, competition for new investment in electricity markets will take place between nuclear energy and gas-fired power generation, with coal-fired power struggling to be profitable. The data and analyses contained in this study provide a robust framework for assessing cost and investment issues in liberalized electricity markets with carbon pricing. (authors)

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

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.)

The Impact of the Agricultural Trade Liberalization on the Elements of the Marketing Mix of Fruit and Vegetables in BIH

OpenAIRE

Dončić, Dalibor; Nastić, Rade

2013-01-01

In this paper, we analyzed in detail elements of the marketing mix of fruit and vegetables, therefore this product, price, distribution, promotion and people in Bosnia and Herzegovina, after seven years of liberal market within CEFTA. Each element of the marketing mix is analyzed for the most important vegetable species (cabbage, onions, peppers, tomatoes) and fruit species (apple, pear, plum). The analyzed elements of the marketing mix are compared with the characteristics of the elements of...

Liberalism and African Culture.

Science.gov (United States)

Sindima, Harvey

1990-01-01

Discusses the effect of liberalism on the African understanding of education, community, and religion. Describes ways in which the European intrusion, that is, colonial governments, schools, and churches, undermined traditional African life and thought. (DM)

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)

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

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...

Investments and price formation in a liberalized electric power market. Appendices

International Nuclear Information System (INIS)

Morthorst, P.E.

2005-06-01

How will the electric power prices in the Nordic electric power market develop if the generation capacity in the coming 10 to 15 years is increased considerably? And what are the conditions for investors to initiate new investments in power plants? Briefly speaking - these are the issues for the project that is reported in this report. The basis for the project has been the Nordic electric power market model and its capability to handle the future extension of the necessary generating capacity. The main issue in the project has been a quantitative analysis of what the prices in the Nordic electric power market will be in the future, depending on the size of new investments in the power generating capacity. The appendix volume of the project report contains detailed descriptions of the three models that are used: the Balmorel model, the investment model, and the MARS model. The Balmorel model is a partial equilibrium model that describes a coherent, international electric power system and combined heat and power system. The model was developed in 2000 through international co-operation with the aim to have a model for analysing international aspects in the Baltic area. The investment model analyses and models the investment decisions in a liberalized Nordic electric power market. It is an exogenous model constructed outside the Balmorel model but uses the price pictures from the Balmorel model as input. MARS (MARket Simulation) is Eltra's (a Danish electric power transmission company) market model for simulating prices, production, demand and exchanges in the power market. The model covers the Nordic countries (Nord Pool) and Northern Germany. (LN)

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.

Energy liberalization should not scare anyone

International Nuclear Information System (INIS)

Slova, K.; Marcan, P.

2006-01-01

In this interview, the Energy commissioner of the European Union, Andris Piebalgs, is aware of the fact that natural monopolies try to hinder market liberalization of the internal market. But he does not see an alternative to opening the market. The European directive clearly stipulates the tasks of the regulator as well as the fact that it has to be independent. The Commission also plans to increase the independence and competencies of the regulator. His some answers are following: the concerns interventions the Slovak cabinet has regarding the situation on the energy market. This issue is about the interests of the citizens as regards prices and the opportunity to create new jobs in the sector. From what I have heard prices in this sector increased dramatically and not all the increases were transparent. If suppliers want to increase their prices they have to be able to justify the increase. In Germany, some cases are already the subject of court cases. It is important that Slovakia keeps full control over the company. We, of course, support the government's aim to obtain full control over the company (Transpetrol). It is important that the state has 100-percent control over the company, not a 100-percent ownership. And whether the Slovak cabinet will achieve this alone or with partners depends on its decisions. But it certainly will need a partner that can get the oil into the pipelines. Europe will lack lack energy sources. Nuclear power stations in Germany are closing down and within two years Slovakia will close down Jaslovske Bohunice. The decommissioning of Jaslovske Bohunice will not result in Slovakia remaining in darkness. Although it will certainly change the supply and demand situation. But I believe that there will be investments in power plants. There are sufficient funds on the market. (authors)

Short-term optimal wind power generation capacity in liberalized electricity markets

International Nuclear Information System (INIS)

Olsina, Fernando; Roescher, Mark; Larisson, Carlos; Garces, Francisco

2007-01-01

Mainly because of environmental concerns and fuel price uncertainties, considerable amounts of wind-based generation capacity are being added to some deregulated power systems. The rapid wind development registered in some countries has essentially been driven by strong subsidizing programs. Since wind investments are commonly isolated from market signals, installed wind capacity can be higher than optimal, leading to distortions of the power prices with a consequent loss of social welfare. In this work, the influence of wind generation on power prices in the framework of a liberalized electricity market has been assessed by means of stochastic simulation techniques. The developed methodology allows investigating the maximal wind capacity that would be profitably deployed if wind investments were subject to market conditions only. For this purpose, stochastic variables determining power prices are accurately modeled. A test system resembling the size and characteristics of the German power system has been selected for this study. The expected value of the optimal, short-term wind capacity is evaluated for a considerable number of random realizations of power prices. The impact of dispersing the wind capacity over statistical independent wind sites has also been evaluated. The simulation results reveal that fuel prices, installation and financing costs of wind investments are very influential parameters on the maximal wind capacity that might be accommodated in a market-based manner

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

International coal trade: the evolution of a global market

International Nuclear Information System (INIS)

1998-01-01

The international coal market has developed over the last 25 years to a mature stable market, largely free of government involvement. It is evident, however, that while the coal market is considered widely to be reliable and mature, there is only limited understanding of the way in which the market operates. Understanding energy market mechanisms is fundamental to encourage confidence in the continuing performance of liberalized markets. This publication seeks to address this need by providing a brief descriptive analysis of the operation of the coal market. The report draws attention to the considerable changes that have been experienced to date in the market, where freely operating market mechanisms have coped well. Further change is on the horizon. Coal demand in Europe is stagnating while growing rapidly in Asia. The once-dominant European market remains the region where price is formed but the Asian market is growing rapidly and becoming more flexible. Increasing competition for market share, low margins, and pressure on utilities to reduce costs as electricity markets are liberalized, will continue to stimulate productivity improvement and may lead to innovations in marketing to cope with stable real prices, high transport, and transaction costs

Wind power and the conditions at a liberalized power market

International Nuclear Information System (INIS)

Morthorst, P.E.

2003-01-01

Wind power is undergoing a rapid development nationally as well as globally and in a number of countries covers an increasing part of the power supply. At the same time an ongoing liberalization of power markets is taking place and to an increasing extent the owners of wind power plants will themselves have to be responsible for trading the power at the spot market and financially handling the balancing. In the western part of Denmark (Jutland/Funen area), wind-generated power from time to time covers almost 100% of total power consumption. Therefore some examples are chosen from this area to analyse in more detail how well large amounts of wind power in the short-term are handled at the power spot market. It turns out that there is a tendency that more wind power in the system in the short run leads to relatively lower spot prices, while less wind power implies relatively higher spot prices, although, with the exception of December 2002, in general no strong relationship is found. A stronger relationship is found at the regulating market, where there is a fairly clear tendency that the more wind power produced, the higher is the need for down-regulation, and, correspondingly, the less wind power produced, the higher is the need for up-regulation. In general for the Jutland/Funen area the average cost of down-regulation is calculated as 1 2 c euros/kWh regulated for 2002, while the cost of up-regulation amounts to 0 7 c euros/kWh regulated. (author)

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...

Gas Market deverticalization and liberalization: simulate the effect of different attack and defence

International Nuclear Information System (INIS)

Drusiani, Renato; Fazioli, Roberto; Matino, Paola

2005-01-01

The Autorita' per l'Energia Elettrica e il Gas (Aeeg-Italian Electricity Regulator) and The Autorita' Garante per la Concorrenza e il Mercato (Agcm - Italian Competition and Market Regulator) have pointed out that, despite the process of deverticalization and liberalization started with the 'Decreto Letta', oligopolistic blocks still exist in the up stream segment of the natural gas supply chain. Such a liberalization process apparently did not bring about those expected, outstanding benefits for the final users, to such extent that it took action from the Aeeg itself to regulate the final prices, thus dramatically hampering the complete opening of the market and ultimately undermining its expected results. Furthermore, the natural gas industry operators are all aware that competition in the down stream segment (distribution) will be, as it is righi now, limited only to the more attractive industrial use. This parer analyzes and simulates, based on empirical data, the effect of different attack and defence strategies between incumbents and competitors, whose identification is based more on the financial solidity they show in developing competition strategies than their management efficiency level. Il is our intent to add a contribution to the national debate in terms of simulation of a price competition between incumbent and competitor, in order to evaluate how likely it is far oligopolistic blocks to occur. As a second step, a simplified competition analysis, applied to a real-life situation, has been carried out. The questions tackled in this simulation, which is based on the game theory, concern, first and foremost, the demonstration that an oligopolistic block in the up stream affects the down stream, and how such effects bear on the various categories of users. As a final corollary, a question of industrial policy: are the effects of an asymmetric liberalization such as to induce a supply side concentration which is rather based on the exploitation of the up

Integration models: multicultural and liberal approaches confronted

Science.gov (United States)

Janicki, Wojciech

2012-01-01

European societies have been shaped by their Christian past, upsurge of international migration, democratic rule and liberal tradition rooted in religious tolerance. Boosting globalization processes impose new challenges on European societies, striving to protect their diversity. This struggle is especially clearly visible in case of minorities trying to resist melting into mainstream culture. European countries' legal systems and cultural policies respond to these efforts in many ways. Respecting identity politics-driven group rights seems to be the most common approach, resulting in creation of a multicultural society. However, the outcome of respecting group rights may be remarkably contradictory to both individual rights growing out from liberal tradition, and to reinforced concept of integration of immigrants into host societies. The hereby paper discusses identity politics upturn in the context of both individual rights and integration of European societies.

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)

Evolution of the European gas market on the long term. Organisation and price

International Nuclear Information System (INIS)

Ouvry, V.

1998-01-01

The objective of this work is to shed light upon the future organization of the European gas market with an emphasis on price matters. There are nowadays few producers of gas on the market, most of whom hold long-term contracts with gas companies. Gas pricing is based on the net-back principle. The actual debate on liberalization of the gas market and the growing pressure from industrial customers to obtain lower prices addresses the problem of the future organisation of the market and the potential impact of the introduction of third party access. We first analyse the main actors of the gas market, their strategy and the actual market organization market. Two different logics are considered hereunder: a market approach: the competition theory provides efficient tools to analyse the evolution of competition depending on numerous factors. It appears that the strategy of all actors and particularly of producers will be the main determinant of the future competition. The oligopoly theory includes oligopolistic behaviours modelizations. The application of the Cournot's model leads to prices ranging from 1,6 to 3,7 $/MBtu; a contractual approach: today, gas is essentially exchanged through long term contracts, which allow for long-term management of investments and supply security. Two operators negotiate the price, which ultimately mirrors their respective leverage. The transaction cost theory clearly shows the necessity of including transaction costs, especially when optimizing the duration of the contract. The gas prices escalation is nowadays partially obsolete and unadapted to customer needs. Escalation on coal, electricity price or inflation should soon be considered. The theories of negotiation highlight the importance of the operators' marketing power during gas price fixation Applying Nash and Harsanyi-Selten's negotiation models results in a scale of 2,4 to 3,5 $/MBtu of the gas price at the actual supply and demand conditions. Both approaches lead to similar

European Integration and Globalization

Directory of Open Access Journals (Sweden)

Diana Bobica

2010-06-01

Full Text Available According to many, the term globalization is able to explain any phenomenon whatsoever, be it positive or negative, that takes place within the global social system. It seems like a sort of magical formula, which is to be found in the speeches of all sorts of people, be they economists, politicians, businessmen or sociologists. However this magical formula of globalization has its limitations, since it encompasses a certain amount of quibbling, beyond which not many can pass. In the context of globalization there appears the question on its role in the process of European integration. Is European integration a part of this global process or, quite on the contrary, does it present certain distinctive features, as it moulds itself differently from the globalization phenomenon? A clear-cut answer seems difficult because of the various aspects involved. Not only the general phenomenon of globalization, but also the economic integration on European level is based on the liberalization of markets and on the opening of national economies towards the exterior,having as direct consequence the intensification of trade exchanges. If from a global point of view one may talk of a market fundamentalism in that the market principles know no boundary, European integration on the other hand implies not only market economy, but also a guided and monitored action of Member Statesaccording to the needs of the whole entity, also taking into consideration - as far as possible – all aspects and consequences on social level.

The liberalization of the European electric and gas industries through the firms' M and A and investment strategies: propositions for a better energy security; Le processus de liberalisation des industries electriques et gazieres europeennes a travers les strategies de fusion - acquisition et d'investissement des firmes - propositions pour une securite energetique renforcee

Energy Technology Data Exchange (ETDEWEB)

Benhassine, W.

2009-04-15

The electric and gas industries have been traditionally managed by public monopolies. The post World War II context was supportive to such an industrial organization. In fact, Europe was getting engaged in a long period of economic growth and was benefiting a favorable energetic context. At the end of the 90's, Europe decides to liberalize the national energy industries in order to create a unique European energy market. This liberalization has occurred in a context that as dramatically changed from the economic and energetic perspective. Indeed, the globalization phenomenon has strengthened the competitiveness of the emerging economies. The strong growth of the energy demand and the stagnation of the supply on the offer side have created tensions which have been increasingly frequent and important on the energy markets. Besides, facing greater budget restrictions and financial difficulties, the states have wished to get financially disengaged from these industries. Many factors show that the economic and energetic context will not get better in the next decades. Hence, in this new context, the liberalization of the energy industries should respond to two major stakes for the energy security of the European countries: the sustainability of the investments and the control of the energy demand. After having studied the merger and investment strategies of the energy firms, operating within a freshly liberalized sector, we make some propositions to draw up a new industrial organization which would allow a more efficient response to these two stakes. (author)

Labour Market Trends and Problems in the EU’s Central and Eastern European Member States: Is Flexicurity the Answer?

Directory of Open Access Journals (Sweden)

Lothar Funk

2009-12-01

Full Text Available Throughout the 1990s, international organisations, such as the International Monetary Fund mainly based their policy proposals for transition economies and the high unemployment, low growth countries in Western Europe, on economic “orthodoxy”. This approach predominantly followed neoclassical economics in which market liberal solutions predominate. These suggestions were controversial; the early results of these policies appeared to be disappointing. Policymakers sought alternative reform proposals and the idea of “flexicurity” has gradually emerged to the political buzzword. Flexicurity combines flexibility with security and suggests that rather generous unemployment benefits and spending on active labour market policies can be aligned with a flexible, employment-friendly labour market. Originating in Denmark, the European Commission and the International Labour Organisation have promoted flexicurity more or less independent of specific single country cases, and based their approach on more abstract, generalised relationships between flexibility and security. These bodies argue for an alternative policy to pure orthodox deregulation and liberalisation for the member states of the European Union (EU and the former transition economies that joined the EU since 2004. After a review of common labour market-related characteristics and problems of the EU’s central and eastern European members, the article summarises and critically evaluates the main elements of flexicurity suggestions. It further compares them to the relevant policy proposals based primarily on more orthodox economic analysis. The analysis shows that several preconditions for a successful flexicurity strategy are still lacking across the new member states. Moreover, the article demonstrates that current proposals by the critics of a single-minded flexicurity approach by no means always disregard potentially positive effects of improving the supposed trade-offs between

How much room is left for European gas incumbents?

Energy Technology Data Exchange (ETDEWEB)

Schwark, Bastian

2007-07-01

In the context of the liberalization of the European natural gas market former monopolists face a challenge to react to market opening by realigning their strategies. Three major groups of companies can be identified that are capable to influence the European gas market significantly each with a distinctive competitive advantage. They consist of the historical gas incumbents, the power incumbents moving into gas as well as the integrated oil and gas producers moving downwards the supply chain by enlarging their supply division. The aim of the paper is to identify the strategic opportunities of the aforementioned three groups and to asses their success. The analysis is done by means of 22 selected companies that are highly active in the EU gas market. An assessment of their market data and comparisons between the three groups will be done. The firms will be matched according to the potential strategic groups and an outlook given in terms of the development of competition in the European gas market. The results sustain the assumption that the playing field for European gas incumbents is going to decrease as both electricity incumbents and integrated oil and gas producers have significant competitive advantages in their potential moves. (auth)

Uneasy Bedfellows: Social Justice and Neo-Liberal Practice in the Housing Market

Directory of Open Access Journals (Sweden)

Andrew Martel

2016-06-01

Full Text Available The Australian state has ratified the Convention on the Rights of Persons with Disabilities (CRPD, which emphasizes a social justice-based, personalized service delivery model. The upcoming National Disability Insurance Scheme (NDIS reflects this model and aims to facilitate people living with a disability being able to access services while housed within the private residential market, a move away from a state-based combined residential/service care model. However, in Australia’s neo-liberal housing market government intervention tends to shy away from policies that overtly impose restrictions on private firms. Therefore, in the absence of a subsidy from the state, the CRPD is of limited use in encouraging private developers to improve the appropriateness of its new built stock for people with a disability. A more persuasive approach is to highlight the size, diversity, and economic power of the disability-friendly housing consumer market when housing provision is separated from disability care delivery. This paper examines the feasibility of sustaining innovation in the volume builder housing market by aligning accessibility promoting changes to the existing innovation channels within Australian firms, suggesting that the NDIS concentrate on assisting the housing industry transition to a make-to-order model from the current make-to-forecast one.

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....

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?

The Liberalization of Notary Fees in Romania. Objectives and Restrictions

Directory of Open Access Journals (Sweden)

Florentina MOISESCU

2013-03-01

Full Text Available Minimum notary fees are the questionable regulatory feature of Romanian notary system. Classic latin notary system to which it belongs Romanian notary system is the most regulated and most restrictive of the four existing notary systems in the European Union. Notary fees are set by law. Notary is an unusual market activity when assessing service provision is not during but after the quality transpires. Minimum notary fees militate to ensure an adequate quality of notary services at an acceptable cost. In contrast, the liberalization of notary fees aims to increase competition among service providers to encourage professionals to act according to the principle of cost-effectiveness, increase quality or to offer innovative services practice the lowest prices. The purpose of writing is to assess the impact of price liberalization in Romania with reference to me deregulated Dutch notary system and similar systems similar to Romanian, the Belgian system and German system.

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.)

Effects of an accelerated liberalization. Consequences of accelerated liberalization for the competitiveness of Dutch energy companies

International Nuclear Information System (INIS)

Kaal, M.B.T.

2001-08-01

One of the conclusions of the Dutch Energy Report, published at the end of 1999, was that it would be feasible to speed up the pace of liberalization in the Netherlands. This conclusion will lead to the liberalization of the retail customers in 2004 and the market for renewable energy in 2001. This will be an incentive to more competition and put a greater pressure on energy companies to concentrate in order to benefit from economies of scale. Less preparation time implies also that there will be less layers of isolation against cost leaders and hence a more intense (price-based) competition. The central question in this report is whether and to what extent the effects of policy, in particular the accelerated liberalization, affect the strategic behavior and competitiveness of the Dutch Regional Electricity Companies (RECs). To address this question four face-to-face interviews have been held with experts from the four major RECs. In these interviews the experts gave their opinion about the Dutch policy regarding the accelerated liberalization and the rate and extent of the privatization. Subsequently, their perspective on the impact of the policy on their competitiveness and their analysis of the Dutch energy market was recorded. After that, the experts exposed their outlook on the future energy market and the ambition and most likely direction of their companies. The data collection was complemented with numerous relevant public interviews of experts derived from various newspapers and energy magazines. The data thus collected were analyzed by means of a theoretical framework consisting of the insights of Porter, Prahalad and Hamel and at a more detailed level marketing theories regarding positioning and branding. This resulted in an overview of the current market position of the Dutch RECs and an outlook for the years to come. 27 refs

Platform for the acceleration of energy liberalization (PVE)

International Nuclear Information System (INIS)

2000-01-01

The title platform was founded to support a smooth transition to a liberalized energy market. Representatives of the Dutch government, the energy sector, business and industry and other relevant parties are members of the platform. The platform was officially initiated June 22, 2000. The site contains many documents from the PVE working groups on the liberalization process of the energy market in the Netherlands and Europe in pdf-format [nl

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

A review of national gas emergency plans in the European Union

International Nuclear Information System (INIS)

Zeniewski, Peter; Bolado-Lavin, Ricardo

2012-01-01

The purpose of this paper is to document and review existing national gas emergency plans in the European Union, following the guidelines and requirements set out by the EU's Regulation 994/2010 concerning measures to safeguard security of gas supply. Despite the great deal of attention paid to questions of natural gas security in an increasingly import-dependent European Union, the contingency plans of most of its member states have not been widely published or scrutinized. By reviewing TSO network codes and national legal and regulatory acts, this paper teases out the key similarities and differences between member states' emergency planning frameworks, tools and methods. A gas emergency operational template is subsequently proposed that conforms to EU legislation. This is followed by a discussion of emergency planning in the context of regional cooperation and the liberalizing European gas market. The paper concludes by advocating gas emergency measures which are proportionate to the crisis level, sensitive to the gas demand profile, aware of the regional context, inconsequential to normal market operation, transparent and non-discriminatory during implementation and verifiable during emergencies as well as under normal conditions. - Highlights: ► National gas emergency plans in the EU comprehensively assessed. ► Template for gas emergencies is created to measure conformity to Regulation 994/2010. ► Gas emergency measures are related to regional cooperation and liberal markets.

The liberalization of the electric market from the view of a public utility

International Nuclear Information System (INIS)

Schwab, J.

1999-01-01

The competition associated with the liberalization of the electric power-supply markets and the altered customers behavior will require a fundamental reorientation in all commercial areas of the energy supply companies (ESC).The companies will only master these new challenges if they react promptly and in an appropriate flexible manner as well as with the demanded orientation attached to the market and to the customers. The strategy of reorientation of the ESC will be determined more and more by the customers and by demand less by supply and technology. The competition on the power-supply market will take predominately place in production and in commercialization. Thereby the commercialization of demand oriented products will be of increasing importance. On the partial markets of 'Industrial' and 'Contract'-customers and electric power trade the energy-suppliers must operate with different strategies. For the power-supplier the following results as consequences of the environment's change: trend to competition is irreversible, areas of creation of economic values are more important than supply stages, the net remains monopoly, new market participants will appear, the competition in the production will increase. The management-orientated way of the Grazer StadtwerkeAG as a public utility is to read as follows: increase the competence for competition, focus on the customer. (author)

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.

A Christian identity for the liberal state?

Science.gov (United States)

Joppke, Christian

2013-12-01

It seems to be impossible for the liberal state to embrace a Christian identity, because 'liberalism' is exactly a device for separating state and religion. Discussing the implications of a recent decision of the European Court of Human Rights, Lautsi v. Italy (2011), I argue that this is not necessarily so. If paired with a liberal commitment to pluralism, a Christian identity might even be more inclusive of minority religions than a narrowly 'liberal' state identity, which has been the dominant response in Western Europe to the challenge of immigrant diversity, especially that of Muslim origins. © London School of Economics and Political Science 2013.

Innovation in energy networks. A study on the changing relation between regulation, technology and market in liberalized energy markets

International Nuclear Information System (INIS)

Kuenneke, R.W.; Bouwmans, I.; Kling, W.L.; Slootweg, J.G.; Stout, H.D.; De Vries, L.J.; Van Poelje, H.; Wolters, M.

2001-10-01

The purpose of this study is to contribute to the development a view on the future of the energy infrastructure for the next 10-15 years, including the related regulation, focusing on the strategic options for development of networks. Attention is paid to (1) planning concepts (to what extent should existing planning concepts be revised as a result of liberalization and technical innovation); and (2) positioning of networks (what are the consequences of the separation of energy markets in commercial and regulated sectors for the development of the energy sector) [nl

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

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.

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

International Nuclear Information System (INIS)

2001-01-01

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

THE IMPACT OF FINANCIAL LIBERALIZATION ON ROMANIAN BANKING SYSTEM EFFICIENCY

Directory of Open Access Journals (Sweden)

Ciupac-Ulici Maria-Lenuta

2013-07-01

Full Text Available In the last three decades, many emerging countries have moved away from a system of restrictive monetary and financial controls to a more liberalized financial sector. The restrictive imposed policies were expected to contribute to industrialization of the economy and to the stability of the banking sector. However, financial liberalization had big costs on the banking system's competitiveness and efficiency. Financial liberalization has a different impact on banking markets. Thus, there is no size that fits all policies concerning banking liberalization process. For highly efficient banks, competition is improving their efficiency standard, while less efficient banks can`t compete with foreign banks and further are decreasing in efficiency or are driven out of the market. Overall, the average efficiency of domestic banking markets should be an important variable in deciding to open up their banking market. Banks that are operating close to the frontier, in general are improving their efficiency following financial liberalization process. Banks that are operating in a further distance can`t manage to compete with foreign market entrants, so, they are losing from liberalization process. In this article we propose to measure the impact of financial liberalization process on Romanian banking system. We used the panel regression to study the informational efficiency of three Romanian banks during 2004 - 2012. The dependent variable of the model was the price of stock bank, and the independent variables were the financial indicators (return on equity, return on assets, net profit margin. In the second regression we introduce a dummy variable for crisis period. Our results show that the financial indicators choose do not affect the efficiency of Romanian bank, but the crisis had a negative impact on them. International context, credit risk, the implementation of Basel III and reducing exposures in the absence of investment alternatives remains key

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?

Consumer benefits and solutions in open electricity markets

International Nuclear Information System (INIS)

Kapetanovic, T.

2003-01-01

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

Modeling methods for GenCo bidding strategy optimization in the liberalized electricity spot market-A state-of-the-art review

International Nuclear Information System (INIS)

Li, Gong; Shi, Jing; Qu, Xiuli

2011-01-01

The electricity market has since 1980s been gradually evolving from a monopoly market into a liberalized one for encouraging competition and improving efficiency. This brings the opportunity for generation companies (GenCos) to make more profits while embracing more risks of not being dispatched. Therefore, it has become a core interest for the GenCos to develop optimal bidding strategies to maximize the profits and minimize the risks while participating in such a competitive market. The literature pertaining to this issue has grown rapidly in recent years, and many different modeling approaches, such as mathematical programming, game theory, and agent-based models, have been investigated under the liberalized market environment. Meanwhile, along with the increasing penetration of renewable energy, the electricity market is facing more complexity and stochasticity from both uncertain generation and dynamic demands. The intermittent and unsteady nature of these renewable power sources motivates the GenCos to further optimize their bidding strategy by considering the new constraints. This paper presents a comprehensive literature analysis on the state-of-the-art research of bidding strategy modeling methods. -- Highlights: → Publications on bidding in electricity spot markets are comprehensively reviewed. → Insights on the evolution of solution methodologies of recent 10 years are provided. → The pros and cons of these solution approaches are also discussed. → Future research directions, with renewable energy participations, are pointed out.

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

The liberalization of the European gas sector and the strategic positioning of firms: A dynamic approach for corporate competence building

International Nuclear Information System (INIS)

Avadikyan, A.; Amesse, F.; Cohendet, P.; Heraud, J-A.

2002-01-01

A framework to explain how competitive changes occurring in one sector can affect both the dynamics of required competencies and the frontiers with adjacent sectors is proposed. When applied to the natural gas sector, the results provide a better understanding of how competencies in the sector evolve according to the new market structure and the strategic movements engaged in by the different players. The proposed framework combines the two approaches -- evolution and strategy -- to show that a firm's competencies define both membership in a specific sector and its distinctiveness from its competitors. To define the strategic positioning process the concept of core competencies is introduced, i.e. competencies developed by firms through their specific history which, when combined in a specific manner with new competencies could give them sustainable competitive advantage. Finally, the authors explain the concept of dynamic capabilities, which rely on a set of organizational and strategic processes needed to integrate, develop and create new competencies in order to initiate, or to adapt to market changes. The final conclusion is that the recent liberalization of the European gas and power sectors weakened institutional entry barriers, a phenomenon which compelled operators traditionally protected by regional or national monopolies to compete with other potential actors. With specific reference to the gas, power and oil industries it is stated that if they had relatively clear frontiers in the past, these frontiers have now become increasingly permeable. However, this weakening of institutional barriers has a beneficial consequence: it allows companies to deploy strategies to take advantage of new growth and rent appropriation opportunities. Examples of adaptation by European oil companies, power companies and natural gas firms are used to illustrate the principles embodied in the proposed framework. 18 refs., 1 fig

Search for efficiency on the European gas market

International Nuclear Information System (INIS)

Chevalier Muluala, V.L.

1997-03-01

The first part of this work is devoted to the structural analysis of the natural gas industry. After a characterization of the gas activities in the European context, the theoretical tools allowing the determination of the natural structure of gas industries are presented in a critical manner. The second part examines the re-structuration dynamics of gas activities. The deregulation logic, which favours the liberalization of the gas sector, and the post-deregulation strategies that could be implemented by the actors are analyzed. According to the analysis of these strategies, it seems that a vertical reintegration of gas activities is possible. (J.S.)

Energy efficiency and the liberalized market - new approaches in national climate protection policy

International Nuclear Information System (INIS)

Hennicke, P.

2000-01-01

The paper initially explains the rationale of energy policy-based governmental intervention in the liberalized electricity market ('the need for political governance'). It is shown why there is a 'demand for intelligent regulatory policy' in Germany's energy sector, despite, or rather as a consequence of the deregulation of the energy markets, and refers e.g. to a parliamentary paper of the Bundestag, (BTDrs. 14/2656, p. 9). The author continues with selecting and defining, from the stock of conceivable appropriate action and regulatory instruments, the corner stones of action plans and the range of instruments, specifically designed for the sector and the target groups, that will accelerate market penetration of the energy efficiency policies ('governance functions'). The author also shows that, due to the significance of regulatory and structurizing impacts, as well as resulting consequences to the leading paradigms of policy of this Government (opting out of nuclear power, global climate change), the electricity industry is just the right branch of industry to serve as a ''national demonstration project'' on the way towards sustainable development. (orig./CB) [de

Study on market policy

International Nuclear Information System (INIS)

2008-02-01

In April 2007 the Dutch Minister of Economic Affairs promised the Lower House a study of the development of the public interests of quality, accessibility and efficiency after the introduction of market liberalization. In the debate on market liberalization in May 2007 the Minister complied with the Lower House?s request to include the consequences of the market liberalization operations on sectoral employment and labor conditions. This study addresses two questions: (1) Which developments occurred in the field of public interests quality, accessibility and efficiency and labor conditions since the introduction of market liberalization? and (2) What general findings and conclusions can be drawn from the implemented market liberalization policy in various sectors? What lessons can be learned for the future? Several sectors have been examined, including large energy users; renewable energy; energy market for medium users; energy (gas and electricity) [nl

Liberalization of the energy market. Outline of the mushroom cultivation; Liberalisering energiemarkt. Verkenning champignonteelt

Energy Technology Data Exchange (ETDEWEB)

Van der Wel, A.J.; Bakker, R.

2000-07-01

As a result of a new Dutch Electricity Law and the liberalization of the natural gas market the mushroom cultivation business requires insight in the consequences of those developments for the energy costs. Also attention is paid to the consequences of the abolition of the limited exemption of the Regular Energy Levy (REB, abbreviated in Dutch). Finally, insight is given into the consequences of changes in the government policy on the so-called long-range agreements on energy efficiency (sector edible mushrooms)18 refs.

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...

STIMULATING THE ATTRACTION OF INVESTMENTS IN THE PROCESSING SECTOR – A NECESSITY IN THE CONTEXT OF EUROPEAN MILK MARKET LIBERALIZATION

Directory of Open Access Journals (Sweden)

Mariana GRODEA

2014-12-01

Full Text Available A main challenge for the players on the world dairy market is to efficiently respond to the changes of the local markets characteristics, in the context of an increasingly fierce competition for the raw milk obtained on the farms. From the analysis, it results that the performance of the Romanian milk sector is seriously affected by the excessive fragmentation of supply, which reveals the subsistence and semi-subsistence phenomenon that persists in the milk sector, as the main factor that constrains competitiveness growth. In reference to the volume of investments in the dairy processing sector, it results that this had a slow growth rate in the investigated period, the share in total investments in the food sector ranging from 7.8% (2000 to 16.9% (2011. The investments in agriculture in total investments accounted for 4.9% in the year 2012. In order to adapt to the competition on the European Single Market, the Romanian sector has to receive support through investments, in the conditions in which there is a favourable global conjuncture for the consumption of dairy products, in which their prices are expected to raise on the basis of the increasing demand of the development regions.

Liberalism and Public Health Ethics.

Science.gov (United States)

Rajczi, Alex

2016-02-01

Many public health dilemmas involve a tension between the promotion of health and the rights of individuals. This article suggests that we should resolve the tension using our familiar liberal principles of government. The article considers the common objections that (i) liberalism is incompatible with standard public health interventions such as anti-smoking measures or intervention in food markets; (2) there are special reasons for hard paternalism in public health; and (3) liberalism is incompatible with proper protection of the community good. The article argues that we should examine these critiques in a larger methodological framework by first acknowledging that the right theory of public health ethics is the one we arrive at in reflective equilibrium. Once we examine the arguments for and against liberalism in that light, we can see the weaknesses in the objections and the strength of the case for liberalism in public health. © 2015 John Wiley & Sons Ltd.

The poverty of liberal economics

OpenAIRE

Brady, David

2003-01-01

Liberal economic precepts have long been a foundation for the social science of poverty and continue to profoundly influence public policy. Liberal economics contends that poverty is dependent on the harmonious progress of economic growth, free market capitalism, worker productivity, and the supply and demand of labor. This paper traces its origins from classical economics and its influence throughout contemporary social science, public policy and conventional wisdom. Next, I evaluate the lib...

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...

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)

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.

Market cloudiness, a German national polemics

International Nuclear Information System (INIS)

Luginsland, M.

2004-01-01

While theoretically liberalized, the German electricity market remains the most opaque of all European electricity markets. Strong price increases (up to 25%) are announced for 2005, while Brussels and Berlin want to put an end to the lack of regulation authority and transparency. Since the implementation of market deregulation, Germany has come back to its former situation: the 4 main producers are equivalent to an oligopoly which controls more than 80% of the market and respects the boundaries of their respective ex-monopolies. Other factors influence the electricity price: the eco-taxes, the subsidies for renewable energies development, the abandonment of nuclear energy and the excessive tariffs of the power transportation network. (J.S.)

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

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)

[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.

The development of the Kozloduy NPP in the conditions of liberalized energy market

International Nuclear Information System (INIS)

Ivanov, A.

2003-01-01

The paper discusses specificities of the energy sector as a business system in the condition of liberalized energy market. The government influence the business system through the rate of economical stability and and possibility for prognosis, as well as through the direct influence of the field government institutions on the process of the development of the economical structures. The finance system influences the government ability to support and lead the industrial development. Two main system types are known: decentralized management (in countries with developed stock markets and a system for entrusting of activities on contract basis) and centralized (the success of the policy is connected with the success of the economical growth). Another aspect of the management in a business environment is the procedure of decision making for the firm policy formation and applying of a model for firm development. The transition to liberalized market means a significant limitation of the role of the government, which in the Bulgarian case should replace the state control system in real time and the state credit. Since the low amortization the electricity production has low cost price and possibility for generation of rehabilitation funds, i.e for extension of the service life on minimal cost. The funds can be used for improvement of the stability of the sector. For the purposes of the analysis made, system parameters are reviewed with regard of the market realities. The Balkan region is semi-closed energy system 40% of the electricity is imported from several countries: Bulgaria, Romania, Serbia and Albania. The prices are greatly influenced by the moment conditions of the electricity production and industry in the region. The policy should be oriented in two directions: expectations for interests in the privatization of electric energy companies and appropriate strategy for preservation of the market positions. The analysis of the factors influencing nuclear energy

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.

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.

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

Demand Side Management in a competitive European market: Who should be responsible for its implementation?

International Nuclear Information System (INIS)

Didden, Marcel H.; D'Haeseleer, William D.

2003-01-01

Demand side management (DSM), more specifically energy efficiency, is standing in the spotlight due to the Kyoto commitments. An additional factor, the liberalization of the electricity markets, causes every country to review its own DSM activities. Especially in Europe, where the directive for opening the electricity market has a direct impact on the current DSM frameworks, governments will have to consider a change in this framework. In order to achieve this, much research has been done in the past years on how to change the DSM framework in a way that the requirements of both liberalization and the Kyoto Protocol will be met. In this paper, we review the current DSM activities and ongoing research from the starting point 'who should be responsible for implementing DSM'. We conclude that countries have to make explicit choices on how to arrange their DSM activities for the different customers groups. They have to be aware of the fact that some combinations of DSM activities will lead to counter-productive results and therefore inefficiency. This paper also investigates which of these DSM activities fits best in the open market; a critical review of Integrated Resource Planning (IRP) is used as a starting point. We agree with various proponents of IRP that planning towards minimal societal costs is theoretically appropriate, looking from a societal point of view. We also indicate in this paper that the planning process IRP is partly applicable in the open market. But looking at the practical application of IRP in the past, we must conclude that there are better alternatives for achieving energy efficient goals in a liberalized market

Transnational pharmaceutical corporations and neo-liberal business ethics in India.

Science.gov (United States)

D'Mello, Bernard

2002-03-01

The author critiques the expedient application of market valuation principles by the transnational corporations and other large firms in the Indian pharmaceutical industry on a number of issues like patents, pricing, irrational drugs, clinical trials, etc. He contends that ethics in business is chiseled and etched within the confines of particular social structures of accumulation. An ascendant neo-liberal social structure of accumulation has basically shaped these firms' sharp opposition to the Indian Patents Act, 1970, government administered pricing, etc. The author contents that the practice of neo-liberal economics is strongly associated with a "one-dimensional" ethics that privileges market valuation principles over all others. This seems to inevitably generate a social counter-movement that struggles for social protections. He critiques neo-liberal business practices from a perspective that derives from the work of the economic anthropologist Karl Polanyi. Before the present phase of liberalization in India, markets were "managed", but without a "welfare state" in place. Moving toward deregulation of the markets without a welfare state in place is unethical. Keeping the debilities of the institutional framework of public policy in mind, the author adopts a Polanyian perspective that places its trust and hope in the growing social legitimacy of the counter-movement in opposition to both neo-liberal business practices and the degenerate behavior of state agencies.

The European gen-set market: growth and consolidation mean joy and pain

International Nuclear Information System (INIS)

French, Ian

2000-01-01

The changes in the European gen-set market are discussed. In recent years the market has undergone a period of increasing consolidation: prices fell and some companies folded. However, the market is not dead and continued growth is expected over the next five years although the compound rate is forecast to be only 1.5%. The article is presented under the sub-headings of (i) current market situation; (ii) product lifecycle; (iii) shipments by technology; (iv) market deregulation; (v) technology overview (spark ignition, compression ignition and gas turbines) (vi) European market: national overview and (vii) key market challenges (competition, emissions and over capacity)

Teoretická reflexe integrace Islandu do EU: neofunkcionalismus a liberální intergovernmentalismus

OpenAIRE

Nežiková, Terézia

2013-01-01

Thesis Theoretical reflection Iceland integration into the European Union: neofunctionalism and liberal intergovernmentalism discusses integration of Iceland into the European Union, and tryi to analyze this case in the context of two theoretical approaches, neofunctionalism and liberal intergovernmentalism. Since the creation of an independent state in 1944, Iceland held traditionally isolationist and Euro-skeptic stance. In 1970 he became member of the European Free Trade Association. Gradu...

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.

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)

Sustainability of Trade Liberalization and Antidumping: Evidence from Mexico’s Trade Liberalization toward China

Directory of Open Access Journals (Sweden)

Yi Liu

2015-08-01

Full Text Available A Negative Binomial Regression Model is used to investigate the sustainability of China–Mexico trade liberalization by testing the tariff lines underpinning Mexico’s successful antidumping (AD measures against Chinese imports from 1991 to 2011. Evidence shows import tariff cutting and consumption growth have a positive impact on consumer goods but a negative impact on intermediaries. This result implies that while the Mexican government has expended considerable energy on the trade liberalization of intermediate and capital goods, the domestic consumer goods market has been protected from Chinese imports. The empirical results indicate that Mexico’s AD use for consumer goods helps to sustain trade liberalization of intermediate and capital goods under the domestic political pressures for trade opening.

Supporting energy efficiency and renewable energy in liberalized markets: the new incentive frameworks

International Nuclear Information System (INIS)

Finon, D.; Menanteau, Ph.

2003-01-01

This article compares the old and new action principles in the area of energy efficiency and renewable energies, and reviews the new types of instruments implemented in the competitive environment of some pioneer countries. It is usually viewed that energy industry liberalization limits the direct capacity of action by states that used to rely on public monopolies. Actually, all it takes is some clarification of the historical operator's and agent's obligations, and some adjustment of action method to the competition environment. To do so, the same duties need to be imposed on agents, whether directly or indirectly, and the financing methods for the cost of actions need to be adjusted so as not to distort competition. Systems may also be considered that combine quantity duties (duty to achieve or duty to perform) and market mechanisms; as is the case with quotas accompanied by 'green' and very recently 'white' certificate markets for gas and power savings. (authors)

Supporting energy efficiency and renewable energy in liberalized markets: the new incentive frameworks

International Nuclear Information System (INIS)

Finon, Dominique; Menanteau, Philippe

2003-02-01

This article compares the old and new action principles in the area of energy efficiency and renewable energies, and reviews the new types of instruments implemented in the competitive environment of some pioneer countries. It is usually viewed that energy industry liberalization limits the direct capacity of action by states that used to rely on public monopolies. Actually, all it takes is some clarification of the historical operator's and agent's obligations, and some adjustment of action method to the competition environment. To do so, the same duties need to be imposed on agents, whether directly or indirectly, and the financing methods for the cost of actions need to be adjusted so as not to distort competition. Systems may also be considered that combine quantity duties (duty to achieve or duty to perform) and market mechanisms; as is the case with quotas accompanied by 'green' and very recently 'white' certificate markets for gas and power savings

Toward the integration of European natural gas markets:A time-varying approach

International Nuclear Information System (INIS)

Renou-Maissant, Patricia

2012-01-01

Over the past fifteen years, European gas markets have radically changed. In order to build a single European gas market, a new regulatory framework has been established through three European Gas Directives. The purpose of this article is to investigate the impact of the reforms in the natural gas industry on consumer prices, with a specific focus on gas prices for industrial use. The strength of the relationship between the industrial gas prices of six western European countries is studied by testing the Law of One Price for the period 1991–2009. Estimations were carried out using both cointegration analysis and time-varying parameter models. Results highlight an emerging and on-going process of convergence between the industrial gas prices in western Europe since 2001 for the six EU member states. The strength and the level of convergence differ widely between countries. Strong integration of gas markets in continental Europe, except for the Belgian market, has been established. It appears that the convergence process between continental countries and the UK is not completed. Thus, the integration of European gas markets remains an open issue and the question of how far integration will proceed will still be widely discussed in the coming years. - Highlights: ► We investigate the integration of European natural gas markets. ► We use both cointegration analysis and time-varying parameter models. ► We show the failure of cointegration techniques to take account of evolving processes. ► An emerging and on-going process of convergence between the industrial gas prices is at work. ► Strong integration of gas markets in continental Europe has been established.

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...

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

Russian natural gas policy and its possible effects on European gas markets

International Nuclear Information System (INIS)

Quast, O.; Locatelli, C.

1997-01-01

There is a growing perception among Western European gas experts that Russia has developed a considerable gas surplus - the Russian gas bubble. Thus, the question clearly arises how much gas is available for export and how much gas, over the next 15 to 20 years, can the Russian quasi-monopolist Gazprom market in Western Europe. We consider that Gazprom's export strategy mirrors the approach of Russia's natural gas policy towards the Western European market. In this paper, we will focus on the characteristics of Gazprom's export strategy, its underlying logic, and its impact on Western European gas markets. As a consequence of Gazprom's export strategy, the Russian gas company faces today a price quantity dilemma. Gazprom's problem is to place as much gas as possible in the growing Western European gas market, without destroying downstream gas prices. We argue that Gazprom has adopted a market share expansion and downstream vertical integration strategy, aimed at capturing a part of the downstream gas rent. Although this strategy appears to have initiated a form of gas to gas competition in a number of European consumer markets, this strategy is not based on an aggressive price policy. However, in order to live up to its ambitions, there is a chance that Gazprom will have to somewhat relax traditional contract clauses, such as contract length, indexation terms and take or pay conditions. (author)

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

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...

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

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.

Short-term versus long-term market opportunities and financial constraints

International Nuclear Information System (INIS)

Ferrari, Angelo

1999-01-01

This presentation discusses gas developments in Europe, the European Gas Directive, short term vs. long term, and Snam's new challenges. The European gas market is characterized by (1) The role of gas in meeting the demand for energy, which varies greatly from one country to another, (2) A growing market, (3) Decreasing role of domestic production, and (4) Increasing imports. Within the European Union, the Gas Directive aims to transform single national markets into one integrated European market by introducing third party access to the network for eligible clients as a means of increasing the competition between operators. The Gas Directive would appear to modify the form of the market rather than its size, and in particular the sharing of responsibility and risk among operators. The market in the future will offer operators the possibility to exploit opportunities deriving mainly from demands for increased flexibility. Opportunities linked to entrepreneurial initiatives require long-term investments characteristic of the gas business. Risks and opportunities must be balanced evenly between different operators. If everyone takes on their own risks and responsibilities, this means a wider distribution of the risks of long-term vs. short-term, currently borne by the gas companies that are integrated, into a market that tends to favour the short-term. A gradual liberalization process should allow incumbent operators to gradually diversify their activities in new gas market areas or enter new business activities. They could move beyond their local and European boundaries in pursuit of an international dimension. The market will have to make the transition from the national to the European dimension: as an example, Snam covers 90% of the Italian market, but its share of an integrated European market will be about 15%

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.

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.)

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)

Does trade liberalization increase global pollution?

International Nuclear Information System (INIS)

Beladi, Hamid; Oladi, Reza

2011-01-01

In this paper we consider a simple duopoly market in which a home firm and a foreign firm use labor to produce an identical product and supply it to the home market. Firms emit pollution as a by-product of production. We show conditions under which international trade liberalization decreases (increases) the global pollution. (author)

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)

Low-cost airlines in Europe: Network structures after the enlargement of the European Union

Directory of Open Access Journals (Sweden)

Dudas Gabor

2010-01-01

Full Text Available The liberalization of the European air opened the strictly regulated European market, and contributed to the appearance and quick spread of the Low-Cost Carriers (LCCs. At the beginning of the 21st century the low cost traffic absolutely concentrated on the Western European market but after the enlargement of the European Union (EU LCCs started their operations in Eastern Europe enlarging and enriching the former evolved network structures. The aim of this paper is to trace the evolution of the route network as a result of EU expansion. During the study we came to the conclusion that in the time period after the EU enlargement the European LCC traffic showed dynamic development, route networks widened and the number of accessible destinations doubled. Comparing the LCCs network structures we defined three main characteristics, which represents the North-South flows, the West-East routes and the mixed network structure.

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.

The integration of the periodic production in the liberalized electric power markets: from the technic expenditures to the economic taxes imposed by the operating rules of the markets; L'integration de la production intermittente dans les marches electriques liberalises: des surcouts techniques aux penalites economiques imposees par les regles de fonctionnement des marches

Energy Technology Data Exchange (ETDEWEB)

Menanteau, Ph.; Finon, D.; Lamy, M.L

2003-03-01

In the framework of the climatic change and the energy supply safety, the european directive aims to promote the renewable energy production in Europe. Some of the renewable energy sources, as the wind power or the micro-hydroelectric power, are naturally periodic. Their introduction in the electric networks will create problems because of this periodic nature, problems which are new for the electric network producers and managers. These problems generate technical expenditures, which may be compensate by the economic penalties of the electric power market operating. In this context the document details the expenditures associated to the periodicity, the economic penalties by an analysis of the british market and analyses the possibilities to limit these economic penalties in order to reduce the conflicts between the electric market liberalization and the promotion of the renewable energies development. (A.L.B.)

Barriers to the EU Single Services Market

Directory of Open Access Journals (Sweden)

Ol'ga V. Biryukova

2015-01-01

Full Text Available The EU has the most developed liberalization mechanism in services trade within the framework of an economic bloc. The system of supranational institutions, which decisions are binding upon member states, contributes to a high level of liberalization of trade in services in the EU. However, the creation of a single market for services hasn't completed at all. The reasons are following: not all basic principles for single market are fully applied, and a service is a very specific object for international trade. Financial-economic crisis caused a new wave of protectionism in different countries, which has reflected in the preservation of old and the emergence of new barriers to trade in services within the EU. Integration of services in the Union is accompanied by important trade initiatives at the multilateral level. In the World Trade Organization EU countries negotiate a new agreement on trade in services, and offer provisions which providing transparency, deepening liberalization and investor protection for foreign investors in the market, will also complement and foster the Transatlantic Trade and Investment Partnership (TTIP EU - USA. Russia is only the fourth among most important partners of the EU in trade in services. At the same time the European Union remains a key Russian partner in trade in services and in goods. There is a considerable potential for growth in this sphere for both partners.

The Double Dividend Hypothesis and Trade Liberalization

NARCIS (Netherlands)

Sen, P.; Smulders, J.A.

2000-01-01

This paper studies how simultaneously liberalizing trade and tightening environmental policy affect welfare in a second-best world. We consider a three-good two-factor small open economy. We allow for non-tradables and for market power in the export market. The government is constrained to balance

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

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

Directory of Open Access Journals (Sweden)

Hakan ÇETİNTAŞ

2015-07-01

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

The impact of intermittent sources of energy on the market price of electricity

International Nuclear Information System (INIS)

Adigbli, Patrick; Mahuet, Audrey

2013-01-01

Parallel to liberalization of the electricity market, these past twenty years have been marked by a strong expansion of renewable energy in Europe. The increasing share of renewables in the energy mix - with a goal set by the European Commission at 20% by 2020 - has an impact on market prices. In the short run, subsidized intermittent energy may lead to lower prices or even to negative prices during certain periods of the year

Unbundling of the European power domestic market. According to thecompatibility of the European plans for Ownership Unbundling with the competency regulation of the EEC contract, especially art. 295 EGV, with the general equality; Entflechtung im europaeischen Energiebinnenmarkt. Zur Vereinbarkeit der europaeischen Plaene fuer ein Ownership Unbundling mit der Kompetenzordnung des EG-Vertrages, insbesondere Art. 295 EGV, und dem allgemeinen Gleichheitssatz

Energy Technology Data Exchange (ETDEWEB)

Calliess, Christian [Freie Univ. Berlin (Germany). Lehrstuhl fuer Oeffentliches Recht und Europarecht

2008-07-01

In the year 1998, the electricity markets in Germany were liberalized with the goal of a promotion of competition. In particular, the area monopolies of regional power suppliers completely were abolished. Regarding to the completion of the power domestic market, two options are suggested for the decartelization of the electricity market: the Ownership Unbundling and the Independent System Operator model (ISO model). The author of the contribution under consideration examines whether the measures planned by the European Commission have different effects on national and local enterprises as well as on private enterprises. The compatibility of the introduction of an Ownership Unbundling/ISO model with the general equality set is examined.

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)

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

International Nuclear Information System (INIS)

Finon, D.

2002-01-01

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

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

Energy Technology Data Exchange (ETDEWEB)

Finon, D

2002-07-01

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

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...

SUSTAINABLE DEVELOPMENT AS A SOLUTION TO AGRICULTURAL COMPETITIVENESS: THE CASE OF GREECE IN THE ERA OF EUROPEAN INTEGRATION

OpenAIRE

PAPAGEORGIOU, Athanassios

2012-01-01

The liberalization of international trade, due to the elimination of market barriers between countries within the context of economic unions, like the European Union (EU) and the expansion of globalization have caused increased competitiveness, at both geographical and sector level. European Commission documents state competitiveness as a continuous rise in the standards of living of a nation or region, a definition which combines competitiveness with sustainability and social goals. Although...

Liberalism, Liberal Egalitarianism or Communitarianism?

Directory of Open Access Journals (Sweden)

Wagner Facundo Fantoni

2015-12-01

Full Text Available Three philosophies have different proposals and pathways in the ethical field of the study and the solution of problems relating to justice: liberalism, liberal egalitarianism and communitarianism. His representatives are called respectively liberal, liberal-egalitarian and communitarian. In this paper, we intend to evaluate each of these philosophical lines, presenting their strengths and weaknesses, and to demonstrate that liberalism must be rejected  at  the  expense  of  liberal  egalitarianism  and  of  communitarianism.  These philosophies have more plausible ways of problem solving than the liberal way. Accordingly, the liberal egalitarianism and communitarianism not necessarily repel. On the contrary, they can be applied jointly, which will be demonstrated in this paper. This hypothesis is developed and confirmed in this paper through the survey and study of the relevant doctrine.

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.

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

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

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

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.

Review Article: Kneeling at the Altar of (Il-)liberalism

DEFF Research Database (Denmark)

Vanhuysse, Pieter

2008-01-01

of their second decade after communism, they have entered a second stage in the political dynamics of economic reforms. Unemployment and labor anger more generally have clearly not disappeared from the political scene in this stage. But, paradoxically, at a time when liberal forces were on the rise among...... erstwhile post-communist 'transition laggards' such as Georgia, Ukraine, and Croatia, many first-stage 'transition leaders' have experienced a turn in distinctly illiberal directions. Post-communism's economically liberal elites have achieved remarkable successes - peaceful democratic consolidation, fast...... market reforms, and EU membership. But they have paid a high price, in the form of lost voters (as politicians) and lost members (as union leaders). The silencing of organized labor and angry workers has accelerated the instauration of neo-liberal varieties of market capitalism and has contributed...

Technology choices for new entrants in liberalized markets. The value of operating flexibility and contractual arrangements

International Nuclear Information System (INIS)

Roques, Fabien A.

2008-01-01

New entrants in liberalized electricity markets which are not vertically integrated and do not operate a large and diversified portfolio of generation technologies are likely to favour technologies which offer the best prospects to manage fuel and electricity price risks through contractual arrangements and operating flexibility. Monte Carlo simulations of a discounted cash flow model of investment in combined cycle gas turbine (CCGT), coal and nuclear power plant are run to compare the impact of fuel and electricity price risks on these different technologies, as well as the value of operating flexibility and contractual hedges. In the absence of long-term fixed-price power purchase contracts, CCGT is the least risky option as its cash flow is 'self-hedged' given the high correlation between electricity and gas prices observed in many markets. Moreover, the value associated with operating flexibility and arbitrage between gas and power market is greater for CCGT plant. This makes CCGT particularly attractive to new entrants. (author)

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.)

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)

A new context for cooperation between Russia an the European Union

International Nuclear Information System (INIS)

Belyi, A.V.

2003-01-01

The energy issue is assuming a strategic importance in relations between Russia and the European Union. Among other things, this is characterised by the debates concerning the energy Charter Treaty, by negotiations concerning Russia's application to join the WTO as well as by establishment of a dialogue between Europe and Russia concerning energy. This article analyses the new factors of this energy partnership which explain the potential for cooperation and at the same time its limits. These factors are: (1) the peripherization of Russia in the international labour market, (2) the enlargement of the European Union to take in countries dependent on Russia for imports of gas and oil, (3) the liberalization of the gas and electricity markets within the European Union which constitutes a challenge for short and long-term energy security and (4) the inclusion of sustainable development within the definition of energy security. (authors)

The Degree of Financial Liberalization and Aggregated Stock-return Volatility in Emerging Markets

NARCIS (Netherlands)

Umutlu, M.; Akdeniz, L.; Salih, A.A.

2009-01-01

In this study, we address whether the degree of financial liberalization affects the aggregated total volatility of stock returns by considering the time-varying nature of financial liberalization. We also explore channels through which the degree of financial liberalization impacts aggregated total

GLOBALIZATION AND TRADE LIBERALIZATION: “A THREAT OR AN OPPORTUNITY”?

Directory of Open Access Journals (Sweden)

Andrei-Stefan Enghiş

2006-07-01

Full Text Available The present paper attempts to evaluate the global economic system through the perspective of neoliberalism, which advocates for the continuous liberalization of trade and the progressive opening of the markets in different economic sectors. Seeking to observe the neoliberal vision on the world economy, the study relies on two speeches delivered by the former European Union’s Trade Commissioner, Pascal Lamy in a time span of four years, between 2000 and 2004, a period marked by two important WTO Ministerial Conferences: the Doha 2001 WTO Ministerial Conference and the Cancun 2003 WTO Ministerial Conference. Nonetheless, in order to provide a balanced analysis of the world economic system, the study provides a brief introspection into the other theoretical vision, alterglobalism, which advocates for a different understanding of the relations between trade liberalization, state intervention in the economy and the reduction of the existent economic disparities. The analysis is divided into three sections: the first section portrays the two antithetical visions, neoliberalism and alterglobalism, while the second one focuses exclusively on the person of Pascal Lamy and on the speeches that represent the core of this study. The third section consists in a comparative analysis of the two divergent economic perspectives, trying to identify the main opposing points, as well as those points on which the two economic perspectives may converge. The conclusion looks closely at the relations between globalization and trade liberalization and the criticism brought about by alterglobalism, the archrival of neoliberalism and trade liberalization. It also considers the relation between the two neoliberal speeches of the former EU Trade Commissioner, attempting to identify potential links or divergent attitudes between the two.

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

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

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

International Nuclear Information System (INIS)

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

2017-01-01

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

A strategic model of European gas supply

International Nuclear Information System (INIS)

Holz, Franziska; Hirschhausen, Christian von; Kemfert, Claudia

2005-01-01

Structural changes in the European natural gas market such as liberalization, increasing demand, and growing import dependency have triggered new attempts to model these markets accurately. This paper proposes a model of the European natural gas supply including the possibility of strategic behavior of the agents along the value-added chain. We structure it as a two-stage-game of successive natural gas exports to Europe (first stage) and wholesale trade within Europe (second stage). In the case of non-cooperative Cournot competition at both stages, which is the most realistic scenario, this yields a market outcome with double marginalization, that is suppliers at both stages generate a mark-up, at the expense of the final customers. Our results suggest that the main suppliers of natural gas to Europe remain dominant (Norway, the Netherlands), although some lose market shares (Algeria, UK, and especially Russia). Traditional exports will be complemented in the future by overseas supplies of LNG from the Middle East, Nigeria, Trinidad and Tobago which are becoming competitive. The model also enables us to identify transport infrastructure bottlenecks; we find that transport capacity on the upstream market is sufficient but the capacity constraint is binding for many intra-EU trade relations. (Author)

Science Curriculum in the Market Liberal Society of the Twenty-First Century: "Re-Visioning" the Idea of Science for All

Science.gov (United States)

Smith, Dorothy V.; Gunstone, Richard F.

2009-01-01

The period since the 1960s has seen dramatic change in the nature and practice of science, science education and secondary school education itself. This paper examines changes in the Science for All movement, setting these changes in the context of the societal shift towards market liberalism and the advancement of a new style of individualism. We…

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

International Nuclear Information System (INIS)

De Jong, H.M.

2009-01-01

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

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...

New policies for energy R and D and innovation in liberalized markets

International Nuclear Information System (INIS)

Chesshire, J.

1999-01-01

This article examines the implications of recent changes in energy markets on the direction and volume of energy RD and D. Lower energy prices and changes in government philosophy have led to reduced publicity-funded RD and D across the OECD. Liberalization is changing incentives for RD and D by energy suppliers. Cross-frontier mergers (e.g. in oil, boilers and turbine generators) have reduced the number of national 'product champions' - once relied upon to sustain national RD and D programmes. But environmental pressures have stimulated RD and D is being compensated by higher expenditures by manufactures of energy using capital goods and appliances. However, there is little accurate data on such demand-side RD and D spending. The article also examines motivations for private and public sector funding of RD and D and innovation in key supply and demand sectors. (authors)

Market liberalism in health care: a dysfunctional view of respecting "consumer" autonomy.

Science.gov (United States)

Kekewich, Michael A

2014-03-01

The unfortunately vast history of paternalism in both medicine and clinical research has resulted in perpetually increasing respect for patient autonomy and free choice in Western health care systems. Beginning with the negative right to informed consent, the principle of respect for autonomy has for many patients evolved into a positive right to request treatments and expect accommodation. This evolution of patient autonomy has mirrored a more general social attitude of market liberalism where increasing numbers of patients have come to embody the role of the "consumer." This paper explores this transformation and critiques the current way in which respect for patient autonomy is put into practice. Ultimately, this paper concludes that the consumer view of patient autonomy is dysfunctional. Moreover, this paper argues that, based on the inherent goals of medicine, some form of paternalism is required in any meaningfully therapeutic relationship.

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

THE ROLE OF THE COMPETITION POLICY IN FORGING THE EUROPEAN COMMON MARKET

Directory of Open Access Journals (Sweden)

Radu-Cristian Muşetescu

2008-12-01

Full Text Available The forging of the Single Market represents the most important dimension of the first pillar of the European Union, which is the European Community. It can be argued that, as compared to the other two pillars (the Common Foreign and Security Policy and the Police and Judicial Cooperation in the Criminal Matters, it has the most powerful impact on the welfare of European citizens. The European policy makers define however the Internal Market as not only an economic area where there are no more state-imposed barriers in the path of the freedom of movement of goods and services at the borders of the member-states but also a single business environment where there are a single currency, coordinated economic policies as well as homogeneous business practices of private undertakings. In this process, despite a large set of common policies, the competition policy has reached the status of the building block of the Common Market.

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...

Economic reform in Europe: integrating and liberalizing the market for services

International Nuclear Information System (INIS)

Newbery, David M.

2001-01-01

The European Union faces challenges in reforming the Gas and Electricity Directives to implement the single market in electricity and gas. The paper argues that there is unfinished business in the areas of regulation, restructuring, encouraging proper risk management through contracting, and designing markets and regulation to ensure effective and sustainable competition in the services supplied over the networks. Regulators often lack critical information and appropriate power to act. Restructuring is problematic, requiring forceful competition authorities with a clear agenda to achieve desirable structural reforms. A key issue is striking the right balance between complete liberalisation and ensuring adequate capacity and investment. Finally, proactive competition policies will be necessary to resist the powerful forces for vertical and horizontal integration visible in the Union. (Author)

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...

Trade liberalization and gender inequality

OpenAIRE

Pieters, Janneke

2015-01-01

Women consistently work less in the labor market and earn lower wages than men. While economic empowerment of women is an important objective in itself, women's economic activity also matters as a condition for sustained economic growth. The political debate on the labor market impacts of international trade typically differentiates workers by their educational attainment or skills. Gender is a further dimension in which the impacts of trade liberalization can differ. In a globalizing world i...

The liberalization of the electricity market in Austria aspects of competition and deregulation

International Nuclear Information System (INIS)

Lausegger, S.

2001-05-01

The subject of the thesis is the deregulation of the Austrian electricity market. It starts with an introduction in the historical background of the legal basis, which until 1998 had been determined exclusively by national law. The main fields of interest in this chapter lay within the federal nature of Austrian electricity law. The next chapter deals with electricity in European Community law, it focuses on the fundamental freedoms of the Treaty on one hand and the Directive 96/92 on Common Provisions for the Electricity Markets on the other. On the basis of this introduction, the Austrian National Electricity Law (e.g. the 'Elektrizitaewirtschafts- und -organisationsgesetz 1998' and the 'Energieliberalisierungsgesetz 2000') has to be assessed. It can be shown that the transformation of Community Law has only partly been successful. Only on the basis of this national and European regulatory framework, an evaluation of the current situation is made according to the principles of competition law (e.g. horizontal agreements, abuse of market power, merger control, state aid). Either national and Community competition law is being discussed, as Community competition law also applies to competition restrictions that are caused by state action. The Austrian way of furthering renewable energies can be named as an example for an insufficient transformation. The last chapter focuses on various aspects of contract law in the deregulated market. Finally, a short summary presents the academic results of the thesis. (author)

The directive on ''internal market of electric power'': a satisfactory balance

International Nuclear Information System (INIS)

1996-01-01

The european directive on the ''internal market for electric power'' has allowed for the first time the implementation of harmonized regulations among european partners concerning the operation of electric utilities and systems in Europe, while taking into consideration the subsidiarity principles to which France is very much attached and finding an equilibrium between the status-quo based on national or regional monopolies and a global deregulation inspired by ultra-liberal views coming from Britain or the US. The main consequences on France's energy policy and organization are discussed

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

Consumers` Attitude towards Consumer Protection in the Digital Single Market, as Reflected by European Barometers

Directory of Open Access Journals (Sweden)

Doru Alexandru Pleşea

2014-05-01

Full Text Available The European Single Market is an ongoing project that will continue to further develop and adapt to changing realities. Traditional economic activities, and the administrative rules governing them, face the challenge of adapting to developments that blur the dividing lines, for example, between shop and online sales or between traditional media and Internet communication. Convergence of this type will lead to a European Digital Single Market. A genuine Digital Single Market would generate new types of growth and also sustainable economic and social benefits for all European citizens. There are still a number of barriers which impose obstacles for the development of the digital market in Europe. Obstacles which can be identified include national differences regarding data protection rules, e-commerce rules, consumer protection rules and other legislation pertaining to information flows. The paper brings in discussion the advantages of a Digital Single Market, the obstacles in developing it in connection with e-commerce regulations, consumer protection and information flows legislation and also the premises for implementing a Digital Single Market. Consumers’ trust in on-line commerce results as one of the driving factors in implementing a Digital Single Market. These are some of the main obstacles for the boosting consumers’ confidence in the European Single Market. Improving consumer confidence in cross-border shopping online by taking appropriate policy action could provide a major boost to economic growth in Europe. Empowered and confident consumers can drive forward the European economy. Starting from the results of the Flash Euro-barometer survey „Consumer attitudes towards cross-border trade and consumer protection this study analyzes consumer`s readiness for the European Digital Single Market

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)

Russian electricity market reform: Deregulation or re-regulation?

International Nuclear Information System (INIS)

Gore, Olga; Viljainen, Satu; Makkonen, Mari; Kuleshov, Dmitry

2012-01-01

Russia commenced liberalization of electricity prices in 2007 increasing the liberalization rate by 10–25% every six months. It was planned to reach full liberalization by 2011. Currently, the degree of liberalization is uncertain because of intense price regulation and a highly concentrated market in the hands of four large generating companies. Increased regulation and further consolidation may drive the market towards its pre-reform state. This paper analyses the competitive landscape of the Russian electricity market by assessing the ownership structure of electricity generation, price drivers, and government involvement in the electricity wholesale market in Russia. The main research question is why the targeted level of market liberalization has not been fully achieved in the Russian electricity market. - Highlights: ► Congested grid; deficit of capacity and market concentration hinder competition. ► Investment needs of the power sector led to price shocks. ► Price increase and poor competition force the government to regulate prices. ► Low liberalization rate and non-cost-reflective pricing is a result of price regulation. ► Increased regulation and consolidation drive the market toward its pre-reform state.

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.

Structural change in Europe's gas markets: three scenarios for the development of the European gas market to 2020

International Nuclear Information System (INIS)

Ellis, A.; Bowitz, E.; Roland, K.

2000-01-01

Against the background of the European Union's Gas Directive, and the emergence of new players and markets in Europe's gas sector, this paper explores how company actions could shape the future for the gas industry. Starting with an examination of company strategies this paper develops three scenarios for the future: a 'Gradual Transformation' scenario where a single European gas market develops that is essentially oligopolistic in nature; a 'Vertical Integration' scenario, where upstream and downstream gas companies merge to form a vertically integrated gas supplier; and a 'Pull the Plug' scenario, where the current market structure decomposes into a competitive market. These scenarios are examined in terms of their impact on gas prices, demand and the distribution of gas rent along the supply chain. The paper highlights the fact that the EU's gas Directive is not sufficient for the introduction of competition into Europe's gas markets, but that company actions will be the key determinant, and they may favour alternative market structures. (Author)

The informal economy employment impacts of trade liberalization & increased competition in export markets

DEFF Research Database (Denmark)

Morocco and United States. The overall logic of such measures was that liberalization and privatization would stimulate trade, support the requested modernization of the production systems and infrastructures, and enhance public administrations and services as well. Positive impacts on income, employments...... and privatization processes were implemented at the international level by the WTO's, at regional level by the establishment of free trade agreements between individual states on the southern and eastern Mediterranean rim and the EU [under the Barcelona Process] and by bilateral agreements as the one signed between...... to focus on the impacts of restructuring in the formal textile and clothing sectors (TC) which is the major employer in three Maghrib countries: Algeria, Morocco and Tunisia. The textile and clothing sectors have been particularly exposed to increased competition in foreign and/or domestic markets...

Market of fuels

International Nuclear Information System (INIS)

Carta Petrolera

2001-01-01

An analysis of the market of fuels is made in Colombia, with base in comparisons with other countries of Latin America, leaving of the base of the liberation of the market, from the refinement until the smallest sale in fuels, the effects of this liberation are analyzed in other regions of the continent

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.

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

Investments in electricity generation in Croatian liberalized market: energy option

International Nuclear Information System (INIS)

Androcec, I.; Viskovic, A.; Slipac, G.

2004-01-01

The Republic of Croatia should have enough capacities built on its own territory to cover system's peak load at any time for ensuring a long-term reliability of its operation. According to annual increasing of electricity consumption and progressive shutdown of the oldest generating plants, the security of future electricity supply depends on new investments. The market, i.e. a competitive generation, is the driving force in the construction of new power plants. The main stimulus for the construction is the possibility of definite return of invested capital and enabling potential investors to realize the expected revenues (profit). The construction of generating capacities is subject of authorisation procedure or tendering procedure, by approval of the Energy Regulatory Council. The electricity market opening in Croatia is parallel process with establishment of regional energy market in South East Europe where the decision of investment in new power plant will be defined by regional investment priorities, all in the aspect of European Union enlargement. In those liberalisation conditions it is necessary to realize all possible energy options according to the Strategy of Energy Development of Republic of Croatia and to the regional energy market requirements or European Union Directives. New power plant will be realized, because of objective circumstances, through construction of gas power plant or coal power plant and possible nuclear power plant, and in much smaller size through construction of hydro power plants or power plants on renewable energy sources. The possibility of any energy option will be considered in view of: investment cost, operation and maintenance cost, fuel price, external costs, public influence, and through investor's risk. This paper is aiming to analyse the possibility of nuclear power plant construction in Croatia as well as in other small and medium electricity grids. Nuclear option will be comprehensively considered in technical

The liberalization of the Norwegian energy market - consequences for the international exchange of electric power. Die Liberalisierung des norwegischen Energiemarktes. Konsequenzen fuer den internationalen Stromaustausch

Energy Technology Data Exchange (ETDEWEB)

Wiedswang, R G [Statnett SF, Oslo (Norway)

1993-10-01

The Norwegian electric power market was deregulated according to the resolutions passed by the Norwegian Parliament. A new energy law was passed after the Norwegian power systems had been made accessible to third parties. The Norwegian government was given a share in power plant and main system operation through foundation of the Norwegian Energy Corporation and the Norwegian Power Grid Company. The transmission tariffs were adapted to the competing sales of electric power. The Samkjoringen utilities fused with the Norwegian Power Grid Company. The deregulation coincided with an energy surplus period. The energy export should have been liberalized before or simultaneously with the internal liberalization, and certain interim regulations could have been established to facilitate the process of liberalization. (orig.)

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...

Liberalizing rural-to-urban construction land transfers in China

NARCIS (Netherlands)

Tan, Rong; Wang, Rongyu; Heerink, Nico

2018-01-01

China's land market is characterized by a dual urban-rural system, with the government in control of rural-urban land transfers. In recent years, different types of pilot projects have been implemented to experiment with liberalizing markets for rural-urban construction land transfers. The objective

Internet finance: Digital currencies and alternative finance liberating the capital markets

Directory of Open Access Journals (Sweden)

Kim Wales

2015-09-01

Full Text Available This article discusses how the sudden shift in policy reform and innovation has the potential to liberate the financial markets. The economic potential of internet finance is beginning to take hold across the capital markets as industries like Peer – to – Peer Lending, Equity and Debt based Crowdfunding and virtual currencies and cryptocurrencies which are types of digital currency are quickly transforming the way businesses are being financed. From borrowing and lending, buying and selling securities, to conducting wire transfers internationally, these innovations are creating a new class and generation of investors will source investments opportunities. Helping institutions and governments assess risks and manage performance in order to determine where to deploy capital; and showing signs of lessening the inequality gap. Following the neolithic agricultural revolution and the industrial revolution, this new revolution will enable more people to access financial services in less traditional ways, especially the unbanked world with its huge potential. These new financial opportunities, such as peer – to - peer (P2P lending, will be discussed and examined, and we will stress how they can allow people to bypass current barriers in the global economy. We conclude by arguing that all these developments, energized by the efforts of innovators and entrepreneurs, have the potential to radically transform the world in which we live, while promoting the core values of industrialized societies including democracy, capital formation, sustainability, and equality without solely relying on tax increases

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

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

Energy Technology Data Exchange (ETDEWEB)

Dieckmann, Birgit

2008-11-24

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

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

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

International Nuclear Information System (INIS)

Lise, W.

2005-07-01

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

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....

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

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)

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

Directory of Open Access Journals (Sweden)

Giorgos Stamtsis

2018-06-01

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

MARKETIZATION IN PUBLIC EMPLOYMENT SERVICES: LESSONS FROM UK EXPERIENCE FOR TURKEY

Directory of Open Access Journals (Sweden)

Varol DUR

2017-07-01

Full Text Available With its liberal welfare regime and different understanding on social issues, United Kingdom separates from continental European countries. These differences create opportunities for UK’s governments to materialize “most advanced” neo-liberal reforms in the fi eld of public employment services. Not only the current situation of marketized employment services in UK, but also its historical developments provide numbers of positive and negative examples for the countries planning to implement similar reforms.. This study does not reach a conclusion indicating that UK has best or worst practices in this fi eld. However, it suggests that the UK’s example contains very valuable inputs about pros and cons of marketization in public employment services and how this process should manage. In this scope, the study aims to derive lessons from UK case for Turkish public employment services from objective point of view.

Energy Politics between Sustainability and Liberalization

International Nuclear Information System (INIS)

Schneider, Gerhard

2000-08-01

Duties and taxes related to energy consumption are discussed intensively in Switzerland in connection with impending National votes on various initiatives and Government proposals. These proposals refer either to new public revenues or to the first steps towards modern and ecologically oriented energy politics. In this Forum representatives with diverse political, economical and scientific background explain their points of view. After an overview on national energy politics and on the pending proposals, the focus shifts to the interplay between the requirements of a sustainable development and a forward-looking scheme of liberalization of the electricity market. As a particular example a recommendation for Switzerland is derived from the consideration of practical experience with legal and promotional measures on the utilization of wind energy in other European countries. Looking into the future, the two last speakers discuss the economic and energetic potentials of efficiency-oriented technologies, and the possible role of new materials like advanced hydrogen-carbon-metals. A final round-table discussion with all speakers is also summarized in this volume

'Children and obesity: a pan-European project examining the role of food marketing'.

Science.gov (United States)

Matthews, Anne E

2008-02-01

Rising levels of obesity in school-age children across Europe are causing increasing concern. The 'Children, Obesity and associated avoidable Chronic Diseases' project sought to examine the effects of promotion within food marketing, given the influential role it plays in children's diets. A questionnaire and data-collection protocol was designed for the national co-ordinators, facilitating standardized responses. Co-ordinators collected data from within 20 European Union countries relating to food promotion to children. Results showed that unhealthy foods such as savoury snacks and confectionary were the most commonly marketed and consumed by children across all countries. Television was found to be the prime promotional medium, with in-school and internet marketing seen as growth areas. Media literacy programmes designed specifically to counterbalance the effects of food marketing to children were reported by only a few of the 20 countries. An ineffective and incoherent pattern of regulation was observed across the countries as few governments imposed tough restrictions with most preferring to persuade industry to voluntarily act with responsibly. Most health, consumer and public interest groups supported food marketing restrictions whilst industry and media groups advocated self-regulation. Recommendations include the amendment of the European Union's Television Without Frontiers Directive to ban all TV advertising of unhealthy food to children, the adoption of a commonly agreed European Union definition of an 'unhealthy' food, and the establishment of a mechanism for pan-European monitoring of the nature and extent of food marketing to children and its regulation.

YOUNGSTERS INSERTION ON THE LABOUR MARKET. A COMPARATIVE ANALYSIS ROMANIA - EUROPEAN UNION

Directory of Open Access Journals (Sweden)

Dobre Mihaela Hrisanta

2008-05-01

Full Text Available The insertion of young people into the labor market represents an important issue amongst all the countries within the European Union and this process is studied differently from one country to another. At present the European Union counts about 75 million young people with the age between 15 and 24 years old. This article main objective is to study insertion rate of young people the labour market as well as it deals with their problems.

Regulation, Governance and Adaptation. Governance transformations in the Dutch and French liberalizing electricity industries

Energy Technology Data Exchange (ETDEWEB)

Niesten, E.M.M.I.

2009-06-11

For more than a decade, the European governments have focused their energy policies on creating one European competitive electricity market. Several regulations are introduced into the European electricity industries for this purpose: the energy firms have to unbundle the electricity networks from electricity generation and retail, and the consumers should be able to choose their electricity retailer. This thesis analyses which new governance structures emerged in the Dutch and French electricity industries as a result of these regulations for four types of electricity transactions: the network connection, network access, balancing and switching transactions. The parties in these electricity industries did not adopt a market, but hybrid forms of governance that remained extensively regulated. The efficiency of these new governance structures cannot be explained with the attributes of the transactions, as is proposed by transaction cost economics. This thesis therefore introduces the concept of adaptation into transaction cost economics. Adaptation is the adjustment by economic actors from one governance structure to another, and is characterized by three attributes: the identity of the future contracting party, the laterality of the adaption, and the type of response in the adaptation process. These attributes explain the governance transformations and the new governance structures in the two industries. Regulation continues to play a pervasive role in the liberalized electricity industries. It influences the attributes of the transactions, the new governance structures and the adaptation process.

Regulation, Governance and Adaptation. Governance transformations in the Dutch and French liberalizing electricity industries

International Nuclear Information System (INIS)

Niesten, E.M.M.I.

2009-01-01

For more than a decade, the European governments have focused their energy policies on creating one European competitive electricity market. Several regulations are introduced into the European electricity industries for this purpose: the energy firms have to unbundle the electricity networks from electricity generation and retail, and the consumers should be able to choose their electricity retailer. This thesis analyses which new governance structures emerged in the Dutch and French electricity industries as a result of these regulations for four types of electricity transactions: the network connection, network access, balancing and switching transactions. The parties in these electricity industries did not adopt a market, but hybrid forms of governance that remained extensively regulated. The efficiency of these new governance structures cannot be explained with the attributes of the transactions, as is proposed by transaction cost economics. This thesis therefore introduces the concept of adaptation into transaction cost economics. Adaptation is the adjustment by economic actors from one governance structure to another, and is characterized by three attributes: the identity of the future contracting party, the laterality of the adaption, and the type of response in the adaptation process. These attributes explain the governance transformations and the new governance structures in the two industries. Regulation continues to play a pervasive role in the liberalized electricity industries. It influences the attributes of the transactions, the new governance structures and the adaptation process.

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

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

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

International Nuclear Information System (INIS)

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

2016-01-01

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

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)

Pedagogy of the Consumer: The Politics of Neo-Liberal Welfare Reform

Science.gov (United States)

Wilkins, Andrew

2012-01-01

Situated against the backdrop of a widespread and growing interest in the linkages between neo-liberalism and welfare, this paper introduces the lens of neo-liberalism as a conceptual strategy for thinking about contemporary issues in education policy. Through charting the historic rise of unfettered market institutions and practices in the…

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...

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

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?.

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

A cluster analysis study based on profitability and financial indicators in the Italian gas retail market

Energy Technology Data Exchange (ETDEWEB)

Capece, Guendalina; Di Pillo, Francesca; Levialdi, Nathan [Dipartimento di Ingegneria dell' Impresa, Universita di Roma ' Tor Vergata' , Via del Politecnico 1, 00133 Roma (Italy); Cricelli, Livio [Dipartimento di Meccanica, Strutture, Ambiente e Territorio, Universita di Cassino, Via G. Di Biasio 43, 03043 Cassino (Italy)

2010-07-15

In the European Union, the natural gas market is increasingly being liberalized. The liberalization process is aimed at leading to lower prices and higher volumes, and hence higher consumer welfare. This paper focuses on the changes in performance in the natural gas retail market by analyzing the profit and financial position of the companies concerned over the first three years following the market liberalization. The balance sheets of 105 Italian companies in this sector are analyzed, after which a cluster analysis is performed employing the most significant performance indexes. The companies are then analyzed within each cluster with respect to age, size, geographical location and business diversification. The results of our analysis show that the majority of companies attained a high level of performance, although this positive outcome was mitigated by the gradual decrease of the average values of performance indicators during the period concerned. The companies that achieve the best performances belong to longstanding business groups, are medium-large sized and are located in the north of the country. Regarding business diversification, in the first two years, the specialised companies outperformed the diversified companies. (author)

A cluster analysis study based on profitability and financial indicators in the Italian gas retail market

International Nuclear Information System (INIS)

Capece, Guendalina; Di Pillo, Francesca; Levialdi, Nathan; Cricelli, Livio

2010-01-01

In the European Union, the natural gas market is increasingly being liberalized. The liberalization process is aimed at leading to lower prices and higher volumes, and hence higher consumer welfare. This paper focuses on the changes in performance in the natural gas retail market by analyzing the profit and financial position of the companies concerned over the first three years following the market liberalization. The balance sheets of 105 Italian companies in this sector are analyzed, after which a cluster analysis is performed employing the most significant performance indexes. The companies are then analyzed within each cluster with respect to age, size, geographical location and business diversification. The results of our analysis show that the majority of companies attained a high level of performance, although this positive outcome was mitigated by the gradual decrease of the average values of performance indicators during the period concerned. The companies that achieve the best performances belong to longstanding business groups, are medium-large sized and are located in the north of the country. Regarding business diversification, in the first two years, the specialised companies outperformed the diversified companies. (author)

Gendering European welfare states and citizenship

DEFF Research Database (Denmark)

Siim, Birte; Borchorst, Anette

2017-01-01

on gender, class, ethnicity or race, and nationality. One issue is what has been the effect of the European emphasis on women’s wage work and gender equality policies for women in different European countries? Another issue concerns how multiple discrimination is tackled and institutionalized in European......The chapter revisits the feminist scholarship on gendering of European welfare states and European citizenship, and reflects on the effects of globalization, Europeanization and migration. It first presents feminist perspectives on the liberal, the conservative and the social democratic welfare...... welfare states. A third issue is to what extent the Nordic welfare states still represent an attractive alternative model of social and gender equality to neo-liberalism. The final part discusses feminist approaches to reframe gender equality and gender justice from the transnational European contexts....

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.

European future natural gas demand and supply diversification: key issues for Central and Eastern Europe

International Nuclear Information System (INIS)

Mueller-Elschner, E.

1996-01-01

After the breakdown of the former Soviet Union and the COMECON the demarcation line between western Europe and central/eastern Europe has disappeared. The central and eastern European economies as a whole and their gas industries as well as the western European gas companies are preparing for the future enlarged market in creating the prerequisites to participate successfully in such a market and to seize the opportunities this market is offering. The framework for this future European Gas Market has to be created now. The European gas industries and gas markets are in transition and are in a process of reshaping, with the following challenges: (1) In Central and Eastern European countries: To complete the privatization and restructuring process from centrally-planned economies to market-oriented structures with deregulated prices, market-oriented tariff systems and new legal and regulatory frameworks. These are the essential prerequisites for an integration of the central and eastern European countries into a single European gas market and the basis for an effective and successful trans border gas co-operation between east and west. (2) In western European countries: To pursue nearly similar processes of restructuring which are underway: privatization by reducing state participation and influence in gas and energy companies, with the accent on liberalization and deregulation of market structures with fewer market entry barriers, and more competition by reducing the influence of state or private monopolies. Gas companies are undertaking cost-efficiency measures to be prepared to meet the requirements of more competitive market structures and also of a more advanced internationalized gas business. The fundamental rules on which western European gas industries based their operations up to now have to be reconsidered. The old western European structures which have developed under the shelter of governmental protection are under pressure from several sources. EU energy

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

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)

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.

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....

Gas market. Fuelling the future

International Nuclear Information System (INIS)

Thomas, M.

1996-01-01

The article relates to the natural gas market in Europe. The continued surge in European gas demand into the next century raises serious questions over the future security of supplies into the region. Around 72% of the total gas volumes consumed are imported from countries outside the region, the most important of which are Russia and Algeria. Natural gas has played a key role in reducing dependence on oil and will increasingly become the fuel of choice for environmental reasons, especially for power generation. Themes like liberalization plans, total production increase, and innovative delivery alternatives are discussed. 1 fig

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

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

What can business model innovation bring to transport service operations in a context of increasing liberalization

Energy Technology Data Exchange (ETDEWEB)

Perez Casan, J.A.

2016-07-01

Transport services continue to be liberalized across the entire European Union, although at differing speeds in each Member State. This momentum is expected to continue in the coming years. Against this background, attention to new dimensions of transport services becomes imperative. The focus, which has so far centred on managing infrastructure, must now shift to lesser explored areas, like product innovation and customer relationship management. The efficiency and competitiveness of new private operators will depend to a large extent on achieving a balanced development of the three aforementioned areas, as well as paying particular attention to their inherent logic, in order to build a strong value proposition. Business model innovation emerged in the field of strategic management yet goes beyond the traditional framework of competition 'for the market' and 'in the market', opening a wider and more promising space, i.e. the market creation framework. The goal is no longer to discover and exploit opportunities, but to create new opportunities and generate new market spaces. (Author)

Labour market in Poland and European Union in 2009-2011