Regulation and Investments in Energy Markets Book

Regulation and Investments in Energy Markets


  • Author : Alessandro Rubino
  • Publisher : Academic Press
  • Release Date : 2015-12-02
  • Genre: Technology & Engineering
  • Pages : 384
  • ISBN 10 : 9780128044766

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Regulation and Investments in Energy Markets Excerpt :

Regulation & Investments in Energy Markets: Solutions for the Mediterranean presents the status of advancement and maturity of the Mediterranean energy policy, identifying patterns of development as well as lessons learned. Mediterranean countries are facing unprecedented challenges in the energy sector which affect the entire region. Energy policy and regulation is the key to tackling energy efficiency challenges, and providing favorable conditions for engineering infrastructures, investments, and improving security of energy supply. The assumption that the normative model, on which the EC energy policy is based, could be adopted outside EU boundaries has proven to be difficult to implement. This book looks at the Mediterranean regions search for a revised model for regulatory convergence and provides answers to those research questions, allowing the reader to understand the different technical, institutional, and financial frameworks for energy policy. Contains a detailed overview of the specificities and institutional frameworks, giving greater clarity on existing energy practice Provides recommendations and contributions from leading scholars and key players in energy policy research Presents information from a region wide interdisciplinary approach based on specific industry information

Regulation of Energy Markets Book

Regulation of Energy Markets


  • Author : Machiel Mulder
  • Publisher : Springer Nature
  • Release Date : 2020-10-16
  • Genre: Business & Economics
  • Pages : 361
  • ISBN 10 : 9783030583194

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Regulation of Energy Markets Excerpt :

This textbook explains the main economic mechanisms behind energy markets and assesses how governments can implement policies to improve how these markets function. Adopting a micro-economic perspective, the book systematically analyses the various types of market failures on the electricity and gas markets as well as coal, oil, hydrogen and heat markets to identify government policies that can improve welfare. These shortcomings include the natural monopoly and the public-good character of energy infrastructures; market power resulting from inflexibility of supply and demand; international trade restrictions; negative externalities concerning the use of fossil energy; positive externalities concerning innovative new energy technologies; information asymmetries with regard to the product characteristics of energy commodities; and other public concerns, such as energy poverty. In turn, readers will learn about various measures that governments can use to address these market failures, including incentive regulation for electricity grids; international integration of wholesale energy markets; environmental regulatory measures like emissions trading schemes; subsidy schemes for new technologies; green-energy certificate schemes; and energy taxes. Given its scope, the book will appeal to upper-undergraduate and graduate students from various disciplines who want to learn more about the economics and regulation of energy systems and markets.

Energy Markets   Investment  Competition  and Regulation Book

Energy Markets Investment Competition and Regulation


  • Author : Arbeitsgemeinschaft Deutscher Wirtschaftswissenschaftlicher Forschungsinstitute. Mitgliederversammlung
  • Publisher : Unknown
  • Release Date : 2007
  • Genre: Economic history
  • Pages : 108
  • ISBN 10 : 3428126335

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Energy Markets Investment Competition and Regulation Excerpt :

Main description: This supplement to Applied Economics Quarterly reports on the 70th Annual Meeting of the Association of German Economic Research Institutes (ARGE-Institute), which took place in Berlin on April 19, 2007. The topic was "Energy Markets - Investment, Competition, and Regulation."Energy markets pose a major challenge for the economy, politics, and society: the entire structure of power generation is on the verge of a fundamental renewal. By dealing with the important current question of how regulation will affect investments in generation and transmission capacities within liberalized electricity and gas markets, the conference offered useful contributions for policy advice to the federal government. Keynote speaker Carl Christian von Weizsäcker discussed investments in energy markets, while Jean Michel Glachant, the second keynote speaker, considered the choice between a "Vibrant European Market and Industry or a Bunch of National Energy Champions." The other lectures focused on alternative strategies for renewable energies, biofuels as a climate policy strategy, as well as innovation, competition, and asymmetric strategic investment. From the editorial by Wolfgang Franz / Rainer Winkelmann / Klaus F. Zimmermann

Investing in EU Energy Security Book

Investing in EU Energy Security


  • Author : Henrik Bjørnebye
  • Publisher : Kluwer Law International B.V.
  • Release Date : 2010-08-27
  • Genre: Law
  • Pages : 480
  • ISBN 10 : 9789041137692

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Investing in EU Energy Security Excerpt :

The author of this timely and sharply focused book shows that, in the light of our current knowledge, ensuring new investments – and the right investments – in electricity generation constitutes an urgent energy policy challenge facing the EU over the coming decades. He accordingly makes the case for a serious reconsideration of the market facilitation and market intervention rules under electricity market legislation in the EU. In the first detailed legal analysis of the EU’s internal electricity market framework for investments in electricity generation facilities from the perspective of security of supply, this book cover such legal issues as the following in precise detail: applicability of the Treaty on the Functioning of the European Union (TFEU); security of supply as a ground for exemption on the basis of public security; justifications of public intervention; the applicability of EU State aid provisions to investments in energy security; requirements imposed by EU law on Member States for ensuring cost-efficient investments in European supply security; facilitation of renewable energy sources and cogeneration in the environmental interest; the Court of Justice’s approach to Member State interventions; the Court’s decisions on restrictions on free movement in the environmental interest; Member States’ right to launch tendering procedures for new generation capacity; Member States’ right to impose public service obligations in the general economic interest on certain undertakings; and relationship between the provisions of the TFEU and those of the Euratom Treaty in relation to investments in nuclear power generation. Throughout the study, in addition to his analysis of the decisions of the Court of Justice and the Court of First Instance, the author takes into account legal literature and Union reports, preparatory works, and working papers. The book demonstrates convincingly that today’s energy supply challenges must be based on a broader ba

Regulations in the Energy Industry Book

Regulations in the Energy Industry


  • Author : André Dorsman
  • Publisher : Springer Nature
  • Release Date : 2020-02-12
  • Genre: Business & Economics
  • Pages : 261
  • ISBN 10 : 9783030322960

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Regulations in the Energy Industry Excerpt :

This book provides a broad overview of the financial, economic and legal implications of energy industry regulations in various countries. In light of significant changes around the globe, it analyses various institutions that are involved in regulative measures, and based on various country studies, it offers insights into how energy sector regulations differ across countries with different market structures and institutions. Covering major topics such as laws and regulations geared to market competition and sustainability and the impact of noncompliance to regulations, from the perspectives of financial markets, and financial risks, the book is divided into four parts: Part I Regulations: price and trade controls; Part II. Non-price & trade control regulations; Part III: Compliance with regulations; and Part IV: Market issues and regulation. It will appeal to scholar in economics, finance and related fields as well as to policymakers and practitioners in the energy industry. This is the seventh volume in a series on energy organized by the Centre for Energy and Value Issues (CEVI). The previous volumes in the series were: Financial Aspects in Energy (2011), Energy Economics and Financial Markets (2012), Perspectives on Energy Risk (2014), Energy Technology and Valuation Issues (2015), Energy and Finance (2016) and Energy Economy, Finance and Geostrategy (2018).

Handbook on Electricity Markets Book

Handbook on Electricity Markets


  • Author : Glachant, Jean-Michel
  • Publisher : Edward Elgar Publishing
  • Release Date : 2021-11-12
  • Genre: Business & Economics
  • Pages : 672
  • ISBN 10 : 9781788979955

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Handbook on Electricity Markets Excerpt :

With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.

Main Reasons of the Energetical Reforms in European Union in the Context Legal Regulation of Economic Globalization Book

Main Reasons of the Energetical Reforms in European Union in the Context Legal Regulation of Economic Globalization


  • Author : Mariia Rubtcova
  • Publisher : Unknown
  • Release Date : 2018
  • Genre: Uncategoriezed
  • Pages : null
  • ISBN 10 : OCLC:1304389400

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Main Reasons of the Energetical Reforms in European Union in the Context Legal Regulation of Economic Globalization Excerpt :

The paper is devoted to the problem of regulation of European Union energy market in the context of energetical reforms in European Union. One of the main prerequisites of the internationalization of legal regulation of European Union energy market is economic globalization (Dmitrieva, Lukashuk, 2006, p.235). In the modern period the creation of common (international) gas, oil and electricity markets is actively developed. It became possible due to large-scale reforms in the energy sector, which have been actively conducted all over the world since the end of the XXth century. The main reasons of the energetical reforms are the following: the problem of lack of full competition in these industries, which led to the lack of investments; the shortage of energy resources; decreasing of reliability of energy. We made the conclusion that the main objectives of the current energy reforms are the opening of energy resources' markets for competition and attracting investment.

Multi dimensional Risk and Investment Return in the Energy Sector Book

Multi dimensional Risk and Investment Return in the Energy Sector


  • Author : Peter Rabensteiner
  • Publisher : Haupt Verlag AG
  • Release Date : 2013
  • Genre: Electric utilities
  • Pages : 173
  • ISBN 10 : 9783258078052

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Multi dimensional Risk and Investment Return in the Energy Sector Excerpt :

Die vorliegende Dissertation untersucht die kapitalbezogenen Aspekte von Investitionen im regulierten Energiesektor, wobei der Fokus auf dem elektrischen Übertragungsnetz liegt. Eine grundlegende Prämisse ist hierbei die "Endogenität des Risikos," wonach das Risikoprofil einer regulierten Investition von den Spezifikationen des regulatorischen Marktdesigns abhängt, durch welches stochastische Kosten und Einnahmen unter den beteiligten Stakeholdern - den Investoren, Konsumenten und Steuerzahlern - aufgeteilt werden. Das übergreifende Konzept ist ein multidimensionales regulatorisches Risiko-Framework, welches eine systematische Beurteilung des Einflusses von stochastischen Risiken auf den Marktwert und Cashflow von regulierten Unternehmen ermöglicht. Gemäss den Dimensionen des Risiko-Frameworks werden die einzelnen Risiken nach ihren systematischen und symmetrischen Eigenschaften sowie nach deren finanziellen Auswirkungen auf das regulierte Unternehmen charakterisiert. Auf Grundlage der konzeptionellen Aufarbeitung und einer umfassenden bibliografischen Übersicht über die vorhandene wissenschaftliche Literatur werden neue Forschungsansätze entwickelt, welche sich mit den identifizierten analytischen und empirischen Forschungslücken befassen: Erstens erlaubt eine kapitalmarktbasierte Kennzahl für das implizierte systematische Risiko, welches auf Basis fundamentaler Bewertungsmodelle und Marktpreise errechnet werden kann, eine robuste Schätzung der Kapitalkosten von börsennotierten Übertragungsfirmen. Eine auf diesem Ansatz beruhende Anpassung der erlaubten Rendite könnte ein wertvolles selbstkorrigierendes Instrumentarium für Regulatoren darstellen. Zweitens ergibt die Analyse einer hypothetischen grenzüberschreitenden Übertragungsleitung zwischen Polen und Österreich, welche aufgrund stündlicher Spotpreise an den jeweiligen Strombörsen durchgeführt wurde, eine Schätzung des systematischen Risikos nahe Nul.

Fisher Investments on Utilities Book

Fisher Investments on Utilities


  • Author : Fisher Investments
  • Publisher : John Wiley & Sons
  • Release Date : 2011-03-08
  • Genre: Business & Economics
  • Pages : 240
  • ISBN 10 : 9780470642122

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Fisher Investments on Utilities Excerpt :

An in-depth look at the global Utilities universe, including electric, natural gas, and water utilities, power generation, and renewable energy Tips and tools for security analysis and portfolio management A useful guide for investing in any market condition FISHER INVESTMENTS ™ on UTILITIES The Fisher Investments On series is designed to provide individual investors, students, and aspiring investment professionals the tools necessary to understand and analyze investment opportunities—primarily for investing in global stocks. Each guide is an easily accessible primer to economic sectors, regions, or other components of the global stock market. While this guide is specifically on Utilities, the basic investment methodology is applicable for analyzing any global sector, regardless of the current macroeconomic environment. Following a top-down approach to investing, Fisher Investments on Utilities can help you make more informed decisions within the Utilities sector. It skillfully addresses how to determine optimal times to invest in Utilities stocks and which Utilities industries have the potential to perform well in various environments. Divided into three comprehensive parts—Getting Started, Utilities Details, and Thinking Like a Portfolio Manager—Fisher Investments on Utilities: Explains some of the sector's key macro drivers—like regulation, economic cycles, and investor sentiment Shows how to capitalize on a wide array of macro conditions and industry-specific features to help you form an opinion on each of the industries within the sector Takes you through the major components of the industries within the global Utilities sector and reveals how they operate Offers investment strategies to help you determine when and how to overweight specific industries within the sector Outlines a five-step process to help differentiate firms in this field—designed to help you identify ones with the greatest probability of outperforming Filled with in-depth insights

The Global Energy Transition Book

The Global Energy Transition


  • Author : Peter D Cameron
  • Publisher : Bloomsbury Publishing
  • Release Date : 2021-01-14
  • Genre: Law
  • Pages : 272
  • ISBN 10 : 9781509932504

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The Global Energy Transition Excerpt :

Global energy is on the cusp of change, and it has become almost a truism that energy is in transition. But what does this notion mean exactly? This book explores the working hypothesis that, characteristically, the energy system requires a strategy of the international community of states to deliver sustainable energy to which all have access. This strategy is for establishing rules-based governance of the global energy value-cycle. The book has four substantive parts that bring together contributions of leading experts from academia and practice on the law, policy, and economics of energy. Part I, 'The prospects of energy transition', critically discusses the leading forecasts for energy and the strategies that resource-rich countries may adopt. Part II, 'Rules-based multilateral governance of the energy sector', details the development and sources of rules on energy. Part III, 'Competition and regulation in transboundary energy markets', discusses principal instruments of rules-based governance of energy. Part IV, 'Attracting investments and the challenges of multi-level governance', focuses on the critical governance of the right investments. This book is a flagship publication of the Centre for Energy, Petroleum and Mineral Law and Policy at the University of Dundee. It launches the Hart series 'Global Energy Law and Policy' and is edited by the series general editors Professors Peter D Cameron and Volker Roeben, and also Dr Xiaoyi Mu.

Batteries in Electricity Markets Book

Batteries in Electricity Markets


  • Author : Bolun Xu
  • Publisher : Unknown
  • Release Date : 2018
  • Genre: Uncategoriezed
  • Pages : 124
  • ISBN 10 : OCLC:1081334867

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Batteries in Electricity Markets Excerpt :

Batteries have been storing electricity for mankind since 1800, while it is till recently that grid-scale battery energy storage become commercially viable and are seeking merchant opportunities in electricity markets. Battery energy storage have faster ramp speed compared to other types of generation units, and are extremely valuable for facilitating the integration of renewable energy resources. Battery energy storage can provide arbitrage and ancillary services in the electricity market. However, even though nowadays battery energy storage systems are constructed and operated with mature technologies, it remains an open question on how to operates them economically in electricity market to maximize the investment profit. This dissertation covers the optimal planning, scheduling, and operation for battery energy storage in electricity markets. It shows that the degradation mechanism of electrochemical battery cells must be considered in market bidding and operation strategies to maximize the participant's operating profit, and proposes optimal methods to incorporate the cost of battery degradation into different participation stages and markets. For frequency regulation markets, this dissertation proposes a real-time control policy that optimally trades-off the performance penalty and the degradation cost in frequency regulation operations. A optimal bidding policy is designed based on the proposed control policy to maximize participant's market profit while maintaining satisfactory operation performance. For energy markets, this dissertation designs a piece-wise linear model that accurately incorporates battery degradation cost into dispatch optimization and bidding strategies. Finally, this dissertation proposes a bi-level planning model to optimize the location and rating of battery energy storage systems considering both energy and reserve markets. This model ensures the profitability of investments in energy storage by enforcing a rate of return constraint. T

Evolution of Global Electricity Markets Book
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Evolution of Global Electricity Markets


  • Author : Fereidoon P. Sioshansi
  • Publisher : Academic Press
  • Release Date : 2013-06-10
  • Genre: Science
  • Pages : 880
  • ISBN 10 : 9780123979063

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Evolution of Global Electricity Markets Excerpt :

Get the latest on rapidly evolving global electricity markets direct from the scholars and thought leaders who are shaping reform. In this volume, dozens of world-class experts from diverse regions provide a comprehensive assessment of the relevant issues in today’s electricity markets. Amid a seething backdrop of rising energy prices, concerns about environmental degradation, and the introduction of distributed sources and smart grids, increasingly stringent demands are being placed on the electric power sector to provide a more reliable, efficient delivery infrastructure, and more rational, cost-reflective prices. This book maps out the electric industry’s new paradigms, challenges and approaches, providing invaluable global perspective on this host of new and pressing issues being investigated by research institutions worldwide. Companies engaged in the power sector’s extensive value chain including utilities, generation, transmission & distribution companies, retailers, suppliers, regulators, market designers, and the investment & financial rating community will benefit from gaining a more nuanced understanding of the impacts of key market design and restructuring choices. How can problems be avoided? Why do some restructured markets appear to function better than others? Which technological implementations represent the best investments? Which regulatory mechanisms will best support these new technologies? What lessons can be learned from experiences in Norway, Australia, Texas, or the U.K.? These questions and many more are undertaken by the brightest minds in the industry in this one comprehensive, cutting-edge resource. Features a unique global perspective from more than 40 recognized experts and scholars around the world, offering opportunities to compare and contrast a wide range of market structures Analyzes how the implementation of existing and developing market designs impacts real-world issues such as pricing and reliability Explains the latest

Investment in Energy Assets Under Uncertainty Book

Investment in Energy Assets Under Uncertainty


  • Author : L.M. Abadie
  • Publisher : Springer Science & Business Media
  • Release Date : 2013-11-11
  • Genre: Business & Economics
  • Pages : 187
  • ISBN 10 : 9781447155928

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Investment in Energy Assets Under Uncertainty Excerpt :

This book aims to provide a rigorous yet pragmatic approach to the valuation and management of investments in the energy sector. Time and uncertainty pervade most if not all issues relevant to energy assets. They run from the early stage of prototype and demonstration to the ultimate abandonment and decommissioning. Risk in particular appears in several areas; thus, one can distinguish technical risk from financial risk. Furthermore, the extent to which one can react to them is different (just think of price risk and regulation risk). Markets in general, and financial markets in particular, regularly put a price on a number of assets which differ in their return/risk characteristics. And academia has developed sound financial principles for valuation purposes in a number of contexts. Nonetheless, the physical characteristics of the assets involved also play a key role in their valuation if only because of the restrictions that they entail. There are some instances in which the practitioner/researcher is able to come up with an analytical solution to the valuation problem. Typically, however, these instances are limited because of their relying on stylized facts or idealized frameworks. Unfortunately, many relevant instances lack analytical solutions, so one must resort to numerical methods. The book clearly explains how to implement them in a meaningful way. Their usefulness is further enhanced when numerical estimates of relevant parameters are derived from actual market prices (as long as these are available and reliable). The book starts from the basics of valuation in a dynamic, certain context. The second part then considers uncertainty and introduces a number of useful results and tools to grapple effectively with it. The last part applies these tools to the valuation of energy assets in a sequential manner, i.e. by considering one, two and three sources of risk. The last chapter provides examples of joint optimal management and value maximization in conventio

Refuelling Europe Book

Refuelling Europe


  • Author : David Buchan
  • Publisher : Wilfried Martens Centre for European Studies
  • Release Date : 2014-12-25
  • Genre: Political Science
  • Pages : 55
  • ISBN 10 : 9782930632353

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Refuelling Europe Excerpt :

PDF available for free on: http://martenscentre.eu/publications/refuelling-europe-roadmap-completing-single-energy-market The Ukraine crisis has reignited debate in Europe surrounding the EU's lack of a fully functioning single energy market. It has brought home to all member states the general need for a more coordinated energy policy, even though they may differ on aspects of what needs to be done. This research highlights that integration of the internal energy market should still be the EU's main instrument to reach its three goals of cost competitiveness, security and emission reduction. A roadmap for completing the single energy market is proposed based on a harmonised EU-wide system of renewable energy subsidies and significant infrastructure investment in many Central and East European member states. These smart investments would form part of a coherent, long-term investment plan for the European energy sector and would enable these member states to improve their energy security through greater investment in gas storage and interconnectors. The goals of energy security, affordability and sustainability have never been higher on the EU's agenda. All three goals would be served if Europe truly unified its energy market. National leaders have it in their hands to complete this slow and difficult integration process, if they can just summon up the necessary political will to do so.