Dissertations / Theses on the topic 'European electricity market liberalization'
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FLORO, DANIELA. "Emerging issues in the european electricity market." Doctoral thesis, Università degli Studi di Milano-Bicocca, 2010. http://hdl.handle.net/10281/14123.
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We assess the impact of the European reform in the electricity market focusing on the effects of the First (96/92/EC) and the Second Directive (2003/54/EC). The contribution of the thesis is threefold. Firstly, we study the progress towards a single integrated EU market examining wholesale electricity price convergence in the main EU power exchanges. The key idea is if the underlying national markets are integrated, then there is evidence of a real integrated market. Thus, over the long run wholesale electricity prices should follow the same pattern. To establish wholesale price convergence we apply a fractional cointegration analysis developed by Granger. We find evidence of perfect cointegration between the German and the Austrian wholesale electricity markets.
Secondly, we analyse the impact of the reform at retail level focusing on the effect on industrial consumer welfare. Specifically, we study the price-cost margins in the EU15 countries over the period 1980-2006. Our analysis examines the long-run equilibrium of achieving a single internal electricity market allowing Member States to converge freely to the steady state as established by the harmonization principle of the EU reform. Differently from previous studies, we apply the pooled mean group estimator developed by Pesaran et al. (1999), which constraints the long run parameters to be same, representing therefore the EU mandated goal of market integration, and allows different rates of adjustment to the equilibrium, representing harmonization.
Empirical evidence shows that wholesale market opening, privatization and regulation result in an increase of industrial consumer welfare. However, as the degree of vertical integration decreases, price-cost margins increase shrinking industrial-consumer welfare. In addition, the analysis of national rates of adjustment to long-run equilibrium shows that Italy and Germany are the countries with the highest and lowest profit persistence respectively.
Finally, we focus on the Italian wholesale market, specifically the Italian day-ahead market, to establish the progress towards competition after wholesale market opening, linking theoretical predictions and empirical findings to identify its underlying oligopolistic structure and to examine potential improvements in consumer welfare after market liberalization. Accounting for the zone organization of the Italian wholesale market, we study the two main macrozones North and South in the summer and winter months of 2005 and 2006. In each market, we define the set of the strategic players and price-taker firms according to both generation capacity and production. We then define two oligopolistic models to describe the underlying oligopolistic structure. In particular, in the North market, we compare the Stackelberg and the Cournot model, whereas, in the South, the Stackelberg and the Dominant firm model. To determine the coefficients of the strategic player’s residual demand, we first estimate the competitive fringe supply. We evaluate the oligopolistic market outcome according to optimization techniques. Applying a variation of the traditional coefficient of determination we find that the North market has recorded a change in the oligopolistic structure from the Stackelberg model (2005) to the Cournot model (2006). However, as stated by microeconomic theory this change implies a loss of efficiency. Concerning the South market results show that during weekdays, in both years, the market follows a Stackelberg model. Instead, during weekends the market has recorded a change from the Dominant firm model to the Stackelberg model.
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Sysel, Ctibor. "Vnitřní trh EU - postavení trhu elektrickou energií." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-81349.
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The thesis deals with the process of creating the internal electricity market in the European Union. The first part focuses on the development of EU energy policy and on the influence of legislative and institutional framework on the creation of the internal electricity market. The second part describes the specifics of electricity and the process of liberalization. It also deals with the interconnection of energy networks. The third part of the thesis is devoted to electricity markets and their regulation. The fourth section examines the development of electricity prices in European countries. Analysis of price convergence shows the current state of creating the single internal market in electricity.
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Lebedová, Daniela. "Vybrané problémy regulace síťových odvětví." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-77009.
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The thesis deals with the results of liberalization and deregulation of the electricity sector in the European Union with a special focus on creating the internal electricity market. The first part focuses on EU energy policy. The aim is to present the wide range of policies and measures that influence the development of the internal electricity market. High attention is given to legislative measures and their proper implementation by the Member States. The following section deals with the process of liberalization and deregulation with regard to specific economic structure of the sector. The adopted measures are framed in the context of the specific economic characteristics of the electricity market, which relate to the existence of the so-called natural monopoly. The third part is devoted to regulation, regulators and their responsibilities in the internal electricity market. It focuses on their powers, methodology and cooperation within the EU. In the fourth part the regression model was developed that assesses the impact of specific variables characterizing the changes occurring in this sector on the price of electricity in Germany, the Czech Republic, the Slovak Republic, Poland and Hungary.
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Šátralová, Aneta. "Liberalization Process of the EU Electricity Market." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-96352.
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This Master Thesis conducts a survey of the process of the liberalization of the electricity market, exclusively in the context of the European Union. The method of the review of the contemporary literatury is used to analyze reforms in the electricity supply industry. The thesis provides readers with the basic characteristics of the liberalization of this strategic net industry. The main focus is on one particular reform-unbundling- as it influences all principles of the eletricity energy markets. Scholars argue there are direct advantages and at the same time direct disadvanatges resulting from these reforms and it is almost impossible to find a clear agreement on if positive or negative effects prevails. In the thesis there is an attempt to evaluate whether contemporary research literature is able to decide if the liberalization reforms will bring about pure benefits for participants of the electricity markets.
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Lundgren, Jens. "Market liberalization and market integration : Essays on the Nordic electricity market." Doctoral thesis, Umeå universitet, Nationalekonomi, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-61605.
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This thesis consists of four self-contained papers related to the Nordic electricity market. Paper [I] examine how the reform of the Nordic electricity markets has affected competition in the electric power supply market, Nord Pool. The question is if the common power market has been competitive or if electric power generators have had market power during the period 1996 -2004. Moreover, since there was a stepwise evolution from national markets to a multinational power market, we also ask how the degree of market power has evolved during this integration process. The results show that electric power generators have had a small, but statistically significant, degree of market power during the whole period. However, studying the integration effect, i.e. how the market power has been affected by additional countries joining Nord Pool, it show that the degree of market power has been reduced and finally vanished as the market has expanded and more countries joined the collaboration. Paper [II] analyse how the deregulation of the Swedish electricity market has affected the price of electric power and how the change in electric power price, in turn, has affected consumers’ welfare. The result shows that the change in pricing principle of electric power following the deregulation has increased consumer welfare over the period studied (1996-2006), with welfare gains about 100 SEK per customer per year, indicating a three per cent welfare gain for the average customer. Paper [III] study whether (and to what extent) the multinational electricity market integration has affected the price dynamics at the Nordic power exchange. The results shows that a larger electricity market seems to reduce the probability of sudden price jumps, but also that the effect on volatility seem to depend on the characteristics, i.e. production structure, of the integrated markets. In Paper [IV] a two-stage study is conducted to investigate the extent to which shocks in the demand and supply for electricity translate into price jumps, and the extent to which this process is affected by the prevailing market structure. The main findings from the study is that whether demand and supply shocks translate into price jumps largely depends on the prevailing market structure, i.e. on how far the market works from capacity constraints. A notable feature of the empirical analysis is also that the marginal effects from positive demand and negative supply shocks on the jump probabilities are mostly insignificant and of small magnitude.
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Danias, Nikolaos. "The liberalization of the Greek electricity supply market." Thesis, University of Strathclyde, 2013. http://oleg.lib.strath.ac.uk:80/R/?func=dbin-jump-full&object_id=18978.
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The motivation for this work is an interest in investigating the particular situations and circumstances that have emerged as the Greek electricity industry moves from its previous form of market organization as a vertically integrated state-owned monopoly to a new liberalized form of market incorporating competition. It should be noted that this market reform is introduced to Greece by the European Union and therefore this reform is externally motivated. Whilst progress has been made to the direction of the market reform, full liberalization has not been achieved. The analysis involves an initial discussion of the Greek electricity market, a literature review in order to identify gaps in the existing literature and then modelling the Greek electricity market. This modelling uses the kinked demand curve with price caps to show how the absence of time-varying tariffs can create opportunities for profitability for new entrants in a market when these new entrants are not obliged to se rve the whole demand and at all times. We examine these markets using varying price caps and show how the level of the price cap, together with the size of the market, determines profitability. We examine specific cases where entry can occur in electricity markets that are facing transitionary periods or where asymmetric conditions might apply for various market participants. We use game theory to illustrate the specific cases that reflect conditions in the Greek case and we examine the foundations of the operation of the Greek political system to identify the effects on the Greek economy. We examine various patterns of system load using empirical data. We also examine data of wholesale electricity prices to identify the effect that the introduction of competition in the wholesale market has for the wholesale electricity prices as well as the dependency of wholesale electricity prices on international fuel prices. Through the examination of these data we observe the impact that political decisions might have on the electricity industry. The contribution to knowledge lies in illustrating how the specific conditions that exist within a political and economical setting like the Greek one can present obstacles to the introduction of changes and reforms. Considering liberalization of vi the electricity industry as a technical issue can be misleading. Pre-existing market distortions and cross-subsidizations that remain within the economic system as a result of industrial and social policies driven by cultural and political considerations are shown to have a significant impact to the market reform. Efforts targeted at making changes to increase economic efficiency and welfare are likely to meet significant obstacles. The important implication for policymakers has to do with the commitment to market reform, once this is decided. This commitment needs to go beyond the letter of the necessary reform conditions. It should extend into a true willingness by the political for ces to give up control of the market so that competition can emerge. In terms of how liberalization should be delivered, we find that the use of asymmetric regulation can result in problematic and unsustainable market conditions and should therefore be used with caution. Also, transparency and information availability across the market are key issues and policy-makers should be made aware that this is to be taken care of.
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Pellini, Elisabetta Giovanna. "Essays on European electricity market integration." Thesis, University of Surrey, 2014. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.610929.
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This thesis examines three aspects relating 10 the construction of the single European electricity market. The research begins with a welfare analysis of market integration by estimating the impact of introducing an efficient congestion management method (i.e. market coupling) to reduce barriers to cross-border trade of electricity. The Italian electricity market, Europe's highest-priced area, is used as a case-study. Deterministic simulations of the Italian electricity market with and without market coupling show the benefit that a high-priced country' could reap from stronger market integration with its neighbours. The thesis then investigates the degree of integration of European wholesale electricity markets, by analysing the behaviour of electricity spot prices of Austria, Belgium, Czech Republic, France, Germany, Greece, Ireland, Italy, Poland, Portugal, Scandinavia, Spain, Switzerland, the Netherlands and the UK up to January 2012. Market integration is evaluated via three alternative econometric approaches, including fractional cointegration analysis, time-varying regressions and multivariate GARCH models. The results indicate that, as of January 20 12, perfect EU-wide market integration is still a way off, though positive signs of convergence have emerged between many electricity markets. The final part of the thesis deals with the estimation of the determinants of residential electricity demand for nine major countries (Austria, Belgium, France, Germany, Italy, Spain, Switzerland, the Netherlands and the UK) using annual aggregate data for 1978-2009, with the aim of understanding how to incentivise electricity conservation and hence CO2 emissions reduction. A general unrestricted error correction mechanism saturated with impulse, step and step-trend dummies is used to get consistent estimates of the impact of all the variables that may influence residential electricity demand. The results, revealing important similarities in the consumption behaviour of European households, can usefully inform policy makers as to how achieving households' electricity saving and hence CO2 emissions reduction
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Zobu, Burcu. "La comparaison des processus juridiques de la libéralisation des secteurs électrique et gazier : en France et en Turquie." Thesis, Paris 1, 2016. http://www.theses.fr/2016PA01D007/document.
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La libéralisation des marchés énergétiques est un objectif primordial pour tous les Etats membres et candidats à l'Union européenne. Dans le but d'arriver à un marché de l'énergie, la Commission européenne a mis en place trois paquets énergie pour l'ouverture complète des marchés électriques et gaziers à la concurrence étape par étape. Pour mieux comprendre les législations et les politiques énergétiques en France et en Turquie, il est indispensable d'avoir une connaissance principale sur l'organisation et le fonctionnement de leurs marchés électriques et gaziers dès l'origine en élaborant les institutions et entreprises monopolistiques en tant que EDF, TEK, GDF BOTAS, et leur évolution historique jusqu'à la mise en place des directives énergétiques européennes. Par la suite, il est important d'examiner chronologiquement chaque étape de libéralisation imposé par les paquets énergie (mise en place du marché intérieur 1996-2000, le deuxième paquet énergie 2000-2007, le troisième paquet énergie 2007-2011,prochaine étape Energy 2020), et comparer la procédure juridique du procès de la libéralisation des marchés énergétiques en examinant leurs législations en vigueur et leurs modifications pendant l'implémentation des directives énergétiques européennesThe liberalization of energy markets is primary objective for each member and candidate State of the European Union. In order to achieve an internal energy market, European Commission set up three energy packages for electricity and gas market complete opening up to the competition step by ste^p. For a better understanding of the energy legislations and policies in France and in Turkey, it is essential to have a main knowledge related to the organisation and operation of their electricity and gas markets from the beginning by examining the institutions and monopolistic companies such as EDF, TEK, GDF, BOTAS, and their historical evolution period until the european energy directives implementation. Thereafter, it is prominent to examine chronologically every step of the liberalisation enforced by the energy packages (internal energy market 1996-2000, second energy package 2000-2007, third energy package 2007-2011, next step Energy 2020), and compare the legal procedure of the energy market liberalization process by analyzing their legislations in place and modifications during the european energy directives implementation process
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Dag, Süleyman. "Volvo faces a deregulated European electricity market /." Linköping : Univ, 2000. http://www.bibl.liu.se/liupubl/disp/disp2001/tek663s.htm.
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Veselý, Aleš. "European Electricity Market and EU Members'Energy Policies." Master's thesis, Vysoká škola ekonomická v Praze, 2012. http://www.nusl.cz/ntk/nusl-135902.
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The main focus of this thesis is to find out what factors have the biggest influence on the price of electricity for household consumers in the European Union in the context of creating the internal electricity market in the EU. By means of the cluster analysis six EU Member States have been selected according to the following criteria: electricity consumption, electricity production, and the price of electricity. As a result of that Belgium, the Czech Republic, Estonia, Hungary, Malta and Sweden have been selected. Consequently, the regression analysis has been carried out to find out what factors influence the electricity prices in every country individually. The independent variables are mainly various sources of electricity production. It was found out those renewable resources most influent the electricity price for households in Belgium, Estonia, Hungary, and Sweden. Nevertheless, in the context of Europe 2020 strategy and the formation of the European energy market, one of the European Commission's objectives is to increase the share of renewable sources in the production of electricity in the EU Member States. Therefore, it will bring about higher prices of electricity, which goes against the Commission's effort to decrease the price of electricity for households through the liberalisation of electricity and the creation of the internal electricity market.
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Spiridonova, Olga. "Three essays on European electricity markets." Doctoral thesis, Humboldt-Universität zu Berlin, 2019. http://dx.doi.org/10.18452/20613.
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Diese Dissertation untersucht Fragen, die sich mit dem Einfluss der Übertragungskapazitäten und der Erzeugung erneuerbarer Energien auf dem Strommarkt befassen. Die Arbeit besteht aus drei eigenständigen Aufsätze, die für die politische Debatte einen Beitrag leisten. Das erste Kapitel konzentriert sich auf ein Netzwerk mit strategischen Unternehmen, die die Stromflüsse zu ihrem Vorteil manipulieren können. Dieses Kapitel gehört zur Forschungsliteratur, die Strommärkte als Gleichgewichtsprobleme mit Gleichgewichtseinschränkungen darstellt. In diesem Rahmen vergleiche ich mehrere Strategien zur Stärkung des Wettbewerbs und zeige, dass der Netzausbau zwar den Wettbewerb ankurbeln kann, mit Umstrukturierungen aber größere Verbesserungen des Verbraucherüberschusses und des Wohlstands erzielt werden können. Das zweite Kapitel basiert auf einem ähnlichen Modell mit einem einfachen Zwei-Knoten-Netzwerk. Dieser Ansatz zeigt mögliche nachteilige Auswirkungen (höhere Preise, geringerer Gesamtverbrauch, geringerer Konsumentenrente) einer höheren Einspeisung erneuerbarer Energie in einem Netz, in dem eine Region mit hohem erneuerbaren Potenzial von einer Region mit hoher Last durch eine begrenzte Übertragungskapazität getrennt ist. Die Annahme ist, dass es in jeder Region einen strategischen Akteur gibt, der seine Marktmacht ausübt. Das dritte Kapitel befasst sich mit der Substitution zwischen Übertragungs- und Speicherkapazitäten - beides Instrumente zur Integration von erneuerbarer Energien. Eine Analyse mit einfachen Speicherheuristik zeigt den relativ bescheidenen Effekt des zeitlichen Ausgleichs. Im Gegensatz dazu birgt die Erweiterung des Übertragungsnetzes ein erhebliches Steigerungspotenzial für die Nutzung erneuerbarer Energiequellen, die Verringerung der Kürzungsraten und die Reduzierung der minimalen konventionellen Stromerzeugung.This thesis investigates several questions related to the influence of transmission capacities and generation of renewable energy on the outcomes in the wholesale electricity markets. The thesis consists of three self-contained essays that contribute to the policy debate. The analysis of the first essay focuses on a network with strategic firms that can manipulate power flows to their advantage. Methodologically, this chapter belongs to the research literature that represents electricity markets as equilibrium problems with equilibrium constraints. In this framework I compare several policies of enhancing competition and demonstrate that although network expansion can stimulate competition, larger improvements in consumer surplus and welfare can be achieved with restructuring. The second essay is based on a similar model, but in a stylized two node network. This approach demonstrates potential adverse effects (higher prices, lower total consumption, lower consumer surplus) from higher renewable infeed in a network where a region with high renewable potential is separated from a region with high load by a limited transmission capacity. I adopt a worst-case assumption that in each region there is a strategic player exercising its market power. The third essay studies the substitution between transmission and storage expansion - two instruments for the integration of expanding renewable energy. Using a myopic storage heuristic I demonstrate the relatively modest effect of temporal balancing of renewable power. In contrast, transmission expansion has a significant potential in increasing renewable penetration, mitigating curtailment rates, and reducing the minimum conventional generation power at any hour. If Europe is to pursue the high targets of renewable power in electricity consumption, the only way to avoid the expansion of cross border lines is extremely high installed renewable capacities and energy capacities of storage.
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Boe, Presteng Maria. "Strategy development following liberalization : a study of companies in the Swedish electricity market." Licentiate thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-97846.
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Marin-Uribe, Pedro Luis. "The impact of liberalization on market structure in the European airline industry." Thesis, London School of Economics and Political Science (University of London), 1995. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.307656.
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The purpose of this thesis is to analyze the impact of liberalization on market structure in the European airline industry. The following chapters focus on three interrelated aspects: airlines' pricing behaviour and determinants of demand, differences between European flag carriers and independent airlines in profits and probability of entry in a route and their main determinants, and the effect of different regulatory policies on the productivity of European carriers. Chapter I proposes a model that explains firms' behaviour and shows that, after the liberalization, firms exploit their cost advantages and differentiate their products more, but market structure still depends on access to airport facilities and other ancillary services controlled by the flag carriers. These results differ from American evidence in that I find that the effect of airport presence on prices through lower costs more than offsets the effect through higher perceived quality. Chapter II develops an empirical model of entry, distinguishing between European flag carriers which are highly regulated at the beginning of the eighties, and independent airlines. I find that the latter enjoy sunk cost advantages but get lower variable profits than the former. This means that possible efficiency disadvantages suffered by the flag carriers are more than offset by their higher perceived quality, leading to a situation in which they are less likely to enter a route, but also less likely to exit. Finally, chapter III specifies and estimates a production function for the airline industry, identifying firms' network characteristics and efficiency as the main determinants of their productivity. The results show that the introduction of liberal bilateral agreements by some European governments has given their flag carriers incentives to start adjusting their structure in anticipation of future liberalization in the European market while other European flag carriers have delayed this adjustment.
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Hong, Lam Le [Verfasser]. "The Integration of the European Electricity Market / Le Hong Lam." München : GRIN Verlag, 2019. http://d-nb.info/1193574528/34.
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TRABUCCHI, Marta. "European electricity day ahead market : a multiple time series approach." Doctoral thesis, Università degli studi di Bergamo, 2015. http://hdl.handle.net/10446/31961.
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The energy market reform is a complex restructuring process that first has liberalized Member State electricity markets and gradually fosters them toward integration into the Single European Market. Even if national markets are still characterized by several differences in the production structures, regulation shapes a common market design at European level and voluntary measures have been adopted to promote market integration. In this framework, Power Exchanges have taken a key role as shown by the growing volumes traded on their different segments and electricity price forecasting has become an interesting research field. Up to now, most of the contributions on short-term forecasting of day-ahead electricity prices do not include the possibility of dynamic interactions between several interconnected markets, despite the recent empirical literature highlights cointegration in the CWE area. After a primer on the economics of electricity markets and the analysis of the regulatory and market framework, the present work proposes a multiple time series approach for electricity price forecasting, joining the two strands of empirical literature on market integration and day-ahead price forecasting. Accounting for the presence of market integration enlarges the model information set, so it may potentially improve the forecasting performance.
This thesis considers hourly day-ahead electricity prices for eight European countries (Austria, Belgium, France, Germany, Italy, Netherlands, Slovenia and Switzerland) for the period May 2010–July 2013. At present, an in-depth comparison between multiple and simple time series forecasting accuracy does not allow stating that estimating multiple time series models, and especially including potential cointegration relationships between day-ahead electricity markets, greatly improve their forecasting performances compared to simple time series models. The adoption of multiple time series may lead to better results only in some hours and in other hours simple time series models outperform multiple time series ones (especially ramp- up hours in the morning).
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Gugler, Klaus, Adhurim Haxhimusa, and Mario Liebensteiner. "Integration and Efficiency of European Electricity Markets: Evidence from Spot Prices." WU Vienna University of Economics and Business, 2016. http://epub.wu.ac.at/5070/1/wp226.pdf.
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This paper seeks to investigate the current state of market integration among European electricity day-ahead spot prices. We provide reasoning that market integration brings about benefits, such as lower average prices and increased welfare from allocative efficiency. Yet, price convergence leads to higher prices in the low-price market and to lower prices in the high-price market, which creates winners and losers and thus makes the political implementation of market integration cumbersome. In our empirical analysis, we utilize a large sample of hourly spot prices of 25 European markets for the period 01.01.2010-30.06.2015 and combine it with other relevant data such as interconnector capacities and the existence of market coupling. Firstly, empirical results from cointegration analysis indicate that market integration increased from 2010 to 2012 but then declined until 2015, most likely due to increased feed-in from intermittent renewables. Secondly, we empirically assess the speed of adjustment from price shocks and reach the conclusion that the resulting efficiency of integration is rather modest. In general, our findings suggest that integration among European electricity markets has a large potential for improvements from additional capacity investments and further promotion of market coupling. (authors' abstract)Series: Department of Economics Working Paper Series
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Brutschin, Elina [Verfasser]. "Dynamics in EU policy-making : The liberalization of the European gas market / Elina Brutschin." Konstanz : Bibliothek der Universität Konstanz, 2013. http://d-nb.info/1047063085/34.
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Correia, Ana Luísa Robalo. "Fossil fuel dependence and interfuel substitution in the electricity sector of Western European countries between 1990-2011." Master's thesis, NSBE - UNL, 2014. http://hdl.handle.net/10362/11525.
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A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and EconomicsThis paper investigates (i) the diversity of fuel mix for power generation in the European Union measured by the Shannon-Weiner Index (SWI) computed for the 28 member-states between 1990 and 2010, and (ii) the degree of interfuel substitution in the electricity system of eight Western European countries where liberalization and other public policies have been implemented since the 1990s. We find evidence of high concentration of fuels for power generation, with fossil fuel sources still dominating the fuel-mix in spite of concerns over energy security supply and compliance with the EU target to reduce CO2 emissions to 20% below 1990 levels by 2020. A Linear Logit Model was built to compute the elasticities of substitution between coal, natural gas and oil, accounting for electricity market liberalization and the creation of the Emissions Trading Scheme (ETS) in the Western power sector for 1990-2011. The findings suggest that natural gas has been regarded as a transition fuel to a low-carbon area, mostly at the expense of oil. Liberalization has also generated more flexibility for fuel-switching.
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Zachmann, Georg. "Empirical Evidence for Inefficiencies in European Electricity Markets." Doctoral thesis, Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden, 2009. http://nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-24857.
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This dissertation applies a variety of quantitative methods to European electricity market data to enable us to detect, understand, and eventually mitigate market imperfections. The empirical data indicate that market power and barriers to cross-border trade partially explain today’s market failures. Briefly, the five key findings of this dissertation are: First, we observe a decoupling between German electricity prices and fuel cost, even though British electricity prices are largely explained by short-run cost factors. Second, we demonstrate that rising prices of European Union emission allowances (EUA) have a greater impact on German wholesale electricity prices than falling EUA prices. Third, we reject the assumption of full integration of European wholesale electricity markets in 2002-2006; for several pairs of countries, the weaker hypothesis of (bilateral) convergence is accepted (i.e. efforts to develop a single European market for electricity have been only partially successful). Fourth, we observe that daily auction prices of scarce cross-border transmission capacities are insufficient to explain the persistence of international price differentials. Empirically, our findings confirm the insufficiency of explicit capacity auctions as stated in the theoretical literature. Fifth, we identify inefficiencies in the market behavior for the interconnector linking France and the United Kingdom (UK), for which several explanations, including market power, may be plausible.
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Boisseleau, François. "The role of power exchanges for the creation of a single European electricity market : market design and market regulation." Paris 9, 2004. https://portail.bu.dauphine.fr/fileviewer/index.php?doc=2004PA090012.
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Boutachali, Asmaa. "European Electricity Market : Interdependencies between European prices, Impact of derivatives trading on the volatility of the physical market and Effect of recent reforms." Thesis, Montpellier 1, 2014. http://www.theses.fr/2014MON10057/document.
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Cette thèse étudie le marché d'électricité européen. Le premier sujet porte sur les interdépendances des prix de l'électricité dans les principaux marchés européens pour évaluer l'efficacité des réformes introduites par la commission européenne pour créer un marché unique de l'électricité. Nous utilisons des méthodes statistiques multidimensionnelles (modèle vectoriel autorégressif et le test de causalité de Granger). Le second sujet concerne l'impact de l'introduction du marché des dérivés sur la volatilité des prix du marché au comptant à travers une étude économétrique avec le modèle GARCH, l'objectif est d'examiner l'effet stabilisant ou déstabilisant des dérivés sur la volatilité des prix de l'électricité. Enfin, le troisième sujet analyse les effets potentiels de l'évolution des réformes réglementaires sur les prix et la sécurité d'approvisionnement ainsi que les interactions entre les réformes du Royaume-Uni et celles de l'Union EuropéenneThis thesis examines the European electricity markets. It first evaluates the effectiveness of European commission reforms to create a single and unified electricity market in Europe against national policies measures, investigating the interdependencies of electricity prices in the main European markets including United Kingdom of Great Britain. To conduct the econometric analysis, Vector Autoregressive model and Granger causality test (Granger 1988) are used. It then studies the impact of the introduction of derivatives trading market on the price volatility of physical market through an econometric study with GARCH model. Finally, it examines the potential effect of changing reforms on electricity prices and security of supply and analyses the interaction between UK reforms and EU regulation
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ZANI, Alessandro. "An annual electricity market simulator: model description and application in a pan-European framework." Doctoral thesis, Università degli studi di Bergamo, 2011. http://hdl.handle.net/10446/870.
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Concettini, S. "COMPETITION IN ELECTRICITY MARKETS: RETAILERS, GENERATORS AND TECHNOLOGIES." Doctoral thesis, Università degli Studi di Milano, 2015. http://hdl.handle.net/2434/267395.
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The objective of this thesis is to answer to three questions raised by the wave of reform in electricity industries: has retail liberalization achieved its objectives in European Union? How traditional and renewable generators compete in a liberalized market? What is the impact on congestion and zonal price differences of increased production from renewable intermittent sources in Italy? The first chapter provides a mid-term evaluation of liberalization of electricity retailing in Europe. We propose a comprehensive theory on retail liberalization and test its consistency with the practice in European Union. The analysis highlights the presence of an oligopolistic supply structure, a limited level of customer engagement in the market and asymmetries in the rate and speed of cost-pass through. The attribution of the Default/Last Resort service through an auction mechanism seems the best solution to favor the development of competition. In the second chapter we study the strategic interactions between a traditional generation technology and a renewable one characterized by an intermittent availability of capacity. We employ a modified version of the Dixit model for entry deterrence with two post entry competition settings: the Cournot framework in a two stage game and the dominant firm-competitive fringe setting in a three stage game. In both cases, the analysis suggests that the renewable generator exploits the merit order rule to crowd out the production of its rival. In the third chapter we analyze the impact of renewable generation on congestion and zonal price differences in Italy. Using a unique database we estimate two econometric models on five zonal pairings: a multinomial logit model for the occurrence and direction of congestion and an OLS model for the size of paired-price differences. The analysis shows that in an importing region the effect of a larger local renewable supply is to decrease (increase) the probability of congestion in entry (exit). Increasing renewable generation seems to have a significant impact on the islander zones, decreasing (increasing) the level of positive (negative) price differences.
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Trygg, Louise. "Swedish industrial and energy supply measures in a European system perspective." Doctoral thesis, Linköping : Linköping University, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-7832.
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Bahce, Serdal. "The Libaralization Of The Turkish Electricity Sector: A Simulation Analysis." Phd thesis, METU, 2003. http://etd.lib.metu.edu.tr/upload/2/632182/index.pdf.
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The Turkish Electricity System has gone through a liberalization process. This study aims to analyze the possible outcomes of this process by using a simulation framework. First, we look at the basics of new market design and focus on international evidence. Second, the theoretical and empirical literature about the liberalization of the electricity sector is reviewed. Then, the structure of our model, Turkish Electricity System Simulation Model (TESS), is summarized. In this model, it is assumed that a spot market is formed and all the agents in the sector operate in this market. Using this model, the effects of various factors, like industry structure, consumer participation and regulation, upon the performance of the spot market are analyzed. Moreover, in simulation case studies, uniform and a non-uniform pricing mechanisms are compared.
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Anakok, Zeynep. "Towards An International Or Supranational Electricity Market? British And Turkish Cases." Master's thesis, METU, 2004. http://etd.lib.metu.edu.tr/upload/12605644/index.pdf.
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This thesis tries to answer the question of whether there is a single electricity market in the European Union. Although some further steps were taken in terms of market integration, this study shows that it is still not possible to talk about a single electricity market. The attempts to create a single electricity market demonstrate the tensions between supranational and national decision making in a vital issue area of energy. States have been reluctant to transfer their sovereignty in energy policy making as they deemed this area vital to their economic and security interests. This study argues that intergovernmental premises, still explain the reluctance of the member states in this context better. The thesis incorporates two case studiesUnited Kingdom and Turkey. The first case illustrates that though UK is at the forefront of the other member states in adopting the EU electricity directives, it has still resisted transferring its right of control over its sector to the supranational authorities. Also, the British Case shows that the liberalisation process has some negative consequences. Turkish case will be an evidence for that the model of UK is not appropriate for Turkey in the restructuring process due to the differences between the two states in terms of laws and regulations, institutional capabilities and domestic market conditions. This thesis proposes that Turkey shouldn&rsquo
t disregard its conditions for the sake of EU membership while developing policies in a strategically important area where member states abstain from devolving their rights to the supranational authorities.
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Gugler, Klaus, Mario Liebensteiner, and Stephan Schmitt. "Vertical disintegration in the European electricity sector: Empirical evidence on lost synergies." Elsevier, 2017. http://dx.doi.org/10.1016/j.ijindorg.2017.04.002.
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The EU has been promoting unbundling of the transmission grid from other stages of the electricity supply chain with the aim of fostering competition in the upstream stage of electricity generation. At present, ownership unbundling is the predominant form of unbundling in Europe. From a policy perspective, a successful unbundling regime would require that the benefits of increased competition in power generation would at least offset the associated efficiency losses from vertical divestiture. Since evidence on this topic is scarce, this study helps fill this void by empirically estimating the magnitude of economies of vertical integration (EVI) between electricity generation and transmission based on a quadratic cost function. For this purpose we employ unique firm-level panel data of European electricity utilities. Our results confirm the presence of substantial EVI of 14% for the median sized integrated utility. Moreover, EVI tend to increase with firm size.
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Zachmann, Georg. "Empirical Evidence for Inefficiencies in European Electricity Markets: Market Power and Barriers to Cross-Border Trade?" Doctoral thesis, Technische Universität Dresden, 2008. https://tud.qucosa.de/id/qucosa%3A25124.
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This dissertation applies a variety of quantitative methods to European electricity market data to enable us to detect, understand, and eventually mitigate market imperfections. The empirical data indicate that market power and barriers to cross-border trade partially explain today’s market failures. Briefly, the five key findings of this dissertation are: First, we observe a decoupling between German electricity prices and fuel cost, even though British electricity prices are largely explained by short-run cost factors. Second, we demonstrate that rising prices of European Union emission allowances (EUA) have a greater impact on German wholesale electricity prices than falling EUA prices. Third, we reject the assumption of full integration of European wholesale electricity markets in 2002-2006; for several pairs of countries, the weaker hypothesis of (bilateral) convergence is accepted (i.e. efforts to develop a single European market for electricity have been only partially successful). Fourth, we observe that daily auction prices of scarce cross-border transmission capacities are insufficient to explain the persistence of international price differentials. Empirically, our findings confirm the insufficiency of explicit capacity auctions as stated in the theoretical literature. Fifth, we identify inefficiencies in the market behavior for the interconnector linking France and the United Kingdom (UK), for which several explanations, including market power, may be plausible.
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Pavlátka, Pavel. "Trh s elektřinou v České republice (teorie a praxe)." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-4277.
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Liberalization and privatization of the electricity industry is one of the most important processes in the few last years. Even when the electricity market is fully open, substantial barriers to competition often remain. These barriers are refusal of access to the market, the lack of capacity in interconnectors and long-term contracts. The process of liberalization has shown that a third-party access to the network is a critical and important factor in ensuring a real and effective liberalization of the market. The process of liberalization has also supported new ways and forms of energy trading including financial contracts instead of purely physical contracts for the delivery of electricity. It is a question if the benefits of liberalization of the electricity industry compared with a regulated private monopoly or public monopoly were profitable. Someone could argue that the liberalization of electricity tends to bring benefit to monopoly structures and increase prices of electricity in industry. This work tries to present the pros and cons of liberalization in the electricity industry while taking in consideration the best means of making the liberatization as much profitable and useful as possible.
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Hoffmann, Leif 1975. "Land of the Free, Home of the (Un)Regulated: A Look at Market-Building and Liberalization in the EU and the US." Thesis, University of Oregon, 2011. http://hdl.handle.net/1794/12026.
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xv, 372 p.In my dissertation I argue that because the European Union and the United States of America have been largely treated as unique or at least special cases, both the literature on American-state building and that on European market integration have missed how close comparison alters both our descriptive views and social-scientific explanations of the shape of each polity. In particular, scholars have not sufficiently recognized that the European Union has gone further than the United States in many elements of the creation of a centralized, liberalized single market, nor have they produced explanations that account well for this development. This study challenges the dominant assumption that the United States is generally more hierarchical and centralized than the European Union and more of a single free market in the sense of fewer allowable trade barriers. By analyzing the rules of market integration in services (over 70% of GDP), public procurement (15 - 20% GDP) and the regulated goods markets (goods like elevators with their own regulatory regimes), I demonstrate that in all these major cases the European Union has adopted rules that open exchange to competition more than the United States. While the actual integration of flows on the ground is still generally less across European states than American ones, the political rules are more - and more liberally - integrated in Europe. I offer an institutional and ideational argument to explain these differences, with two main parts. First, there is no American parallel to the institution of the European Commission, which is mandated to continually push liberalization forward. My research shows that Commission leadership has been critical to each of the examined cases. Second, broader norms of legitimate governance favor centralized authority - including liberalizing central authority - more in the European Union than in the United States. Despite all the criticism we hear of the European Union, the basic notion of federal governance of market integration is far more strongly accepted across Europe at both elite and mass levels than in the United States. As interview evidence in this study displays, many Americans consistently object to any role for the federal government.
Committee in charge: Dr. Craig Parsons, Chairperson; Dr. Gerald Berk, Member; Dr. Lars Skålnes, Member; Dr. Alexander B. Murphy, Outside Member
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Rangoni, Bernardo. "Uncertainty and experimentalist policymaking in internal market regulation by the European Commission : cases on electricity and gas policy." Thesis, London School of Economics and Political Science (University of London), 2016. http://etheses.lse.ac.uk/3586/.
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Although the new architecture of experimentalist governance has been influential in academic scholarship as well as in policy debates over the last two decades, its actual impact on policymaking is still largely unclear. Specifically, questions about whether, under what conditions and how it influences policymaking processes remain largely unsolved. Without an adequate analysis of experimentalist policymaking, the current scholarship confines our understanding to the diffusion of experimentalist architectures, ultimately resulting in a poor understanding of their effects on policymaking processes. Thus, this thesis seeks to contribute to closing the knowledge gap by identifying conditions in which the Commission engages in experimentalist policymaking. To this end, it makes a number of inductive claims by further developing arguments found in experimentalist and shadow of hierarchy theories and using empirical analysis to follow them through. It studies the case of European Union energy regulation from the beginning of its liberalization and re-regulation in the late 1990s to the present day. The central argument of the thesis is that, when the Commission finds itself in conditions of greater uncertainty, even though the shadow of hierarchy is weaker or the distribution of power is less polyarchic, it engages in experimentalist policymaking by granting discretion to Member States and/or regulated companies to pursue common goals through distinct means, stimulating the comparison of their approaches and providing a basis for agreements on reforms to be developed with high stakeholder participation. Besides extending empirical research on EU energy regulation and contributing to the literature on modes of regulation, this thesis contributes to advancing the study of experimentalist governance in a number of respects. First, it clearly distinguishes experimentalist and hierarchical institutional architectures from policymaking processes by developing a set of indicators which are widely applicable. Second, by identifying patterns of policymaking that are not based on polyarchy, shadow of hierarchy, time or sector, but rather, are consistent with uncertainty, it suggests that uncertainty is an individually sufficient condition for experimentalist policymaking. More broadly, by identifying patterns of policymaking that are not based on specific institutional architectures, it shows that the type of policymaking can vary even if institutional architectures do not change, and hence warns scholars of the need to look beyond institutional design to the ways in which decision-making actually occurs.
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Weigt, Hannes. "Modeling Competition and Investment in Liberalized Electricity Markets." Doctoral thesis, Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden, 2009. http://nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-24711.
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In this thesis current questions regarding the functionality of liberalized electricity markets are studied addressing different topics of interest in two main directions: market power and competition policy on electricity wholesale markets, and network investments and incentive regulation. The former is studied based on the case of the German electricity market with respect to ex-post market power analysis and ex-ante remedy development. First an optimization model is designed to obtain the competitive benchmark which can be compared to the observed market outcomes between 2004 and 2006. In a second step the horizontal breaking up of dominant firms (divestiture) is simulated applying equilibrium techniques (the classical Cournot approach and the Supply Function Equilibrium approach). The later issue of transmission capacity investment is addressed by highlighting the complexity of network investments in electricity markets and by analyzing a regulatory mechanism with a two part tariff approach. The technical characteristics of power flows are combined with economic criteria and tested for different network settings.
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Böckers, Veit Verfasser], and Justus [Akademischer Betreuer] [Haucap. "Market Integration and Regulation in European Wholesale Electricity Markets: Five Essays on Energy Economics / Veit Böckers. Betreuer: Justus Haucap." Düsseldorf : Universitäts- und Landesbibliothek der Heinrich-Heine-Universität Düsseldorf, 2015. http://d-nb.info/1067229078/34.
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Seidel, Julia. "What is the color of Chinese water? : Challenges and opportunities for European hydropower companies in the Chinese market." Thesis, Linköpings universitet, Företagsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-71053.
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Background: China is the country with the worldwide hugest hydropower reserves. Interms of meeting its electricity demand, further development of its reserves is necessary.European companies are leading on the hydropower market and strive for projects inChina, resulting in challenges and opportunities while facing emerging market features.Aim: This study presents an analysis of the Chinese electricity market with the aim toidentify challenges and opportunities European hydropower companies face whenoperating or entering this market. The analysis uses Blue Ocean as strategic tool to finda new perspective of examining the market situation and potential.Definition: The OECD (2007) defined hydropower as “electricity generation using thepower of falling water”.Method: This study is based on qualitative research. It constitutes five expertinterviews with company employees as Voith and a professor for fluid mechanics andhydraulic machinery at Stuttgart University.Results: The analysis resulted in 12 challenges and opportunities for Europeanhydropower companies. The challenges arise mainly from political influence on theChinese market. Opportunities, on the other hand, have strategic implications on alltime horizons but focus on different technologies and directions. The long term strategicopportunity was identifies by applying the Blue Ocean strategy. Further this proves theex ante applicability of the Blue Ocean strategy.
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Pham, Thao. "Market power in power markets in Europe : the Cases in French and German woholesale electricity markets." Thesis, Paris 9, 2015. http://www.theses.fr/2015PA090019/document.
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Les deux derniers siècles ont connu une révolution exceptionnelle dans l'organisation des marchés électriques dans le monde entier. Ainsi, traditionnellement organisé autour de monopoles verticalement intégrés et soumis à la régulation, le secteur électrique connait un processus de réforme et évolue vers une organisation décentralisée qui favorise les mécanismes du marché. Le passage des tarifs régulés à des prix du marché, compte tenu des structures concentrées et les caractéristiques particulières de l'industrie électrique, accroît la possibilité que certaines entreprises puissent manipuler les prix du marché en exerçant leur pouvoir de marché. Les questions de "pouvoir de marché" dans un secteur donné ont été abondamment étudiées dans la littérature de l'économie Industrielle depuis la fin des années 1970, mais des études théoriques et empiriques de "pouvoir de marché dans les marchés électriques" n'ont été développées que récemment. Dans cette thèse, nous essayons de mener une recherche approfondie autour des questions de pouvoir de marché sur les marchés de gros de l'électricité en Europe. Nous conduisons des études empiriques dans deux des plus grands marchés européens: la France (sur des données 2009-2012) et l'Allemagne (sur des données de 2011), en utilisant des méthodes économétriques et des modèles de simulation des marchés électriques. Le sujet semble pertinent dans la période de transition énergétique en EuropeThe two last centuries have witnessed an exceptional revolution in the organization of electric power markets worldwide. The industry's organization has changed from vertically integrated monopolies under regulation to unbundled structures that favor market mechanisms; known as reform process in Europe. The shift to reliance on market prices, given concentrated structures and particular characteristics of electricity industry, raises a possibility that some firms could influence the market prices by exercising their market power. The issues of "market power" in a given industry have been abundantly employed in the literatureof Industrial Organization since the late 1970s but theoretical and empirical studies of "market power in electricity markets" have only been developed recently. In this thesis, we attempt to carry out an insight research around market power questions in deregulated wholesale electricity markets in Europe, as regarding the way of defining and measuring it. We carry out empirical studies in two of the biggest liberalized electricity markets in Europe: France (2009-2012's data) and Germany (2011's data), using econometric regressions and electricity simulation models as main methodologies. The subject is particularly relevant inthe context of energy transition in Europe (transition energetique in France and Energiewende in Germany)
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Amiri, Shahnaz, and Bahram Moshfegh. "Possibilities and consequences of deregulation of the European electricity market for connection of heat sparse areas to district heating systems." Linköpings universitet, Energisystem, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-58385.
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The objective of the study is to analyse the conditions for connection of residential buildings in heat sparse areas to district heating systems in order to increase electricity production in municipal combined heat and power plants. The European electricity market has been assumed to be fully deregulated. The relation between connection of heat sparse areas, increased electricity and heat production as well as electricity prices, fuel prices and emissions rights is investigated. The results of the study show that there is potential to expand the district heating market to areas with lower heat concentrations in the cities of Gavle, Sandviken and Borlange in Sweden, with both economic and environmental benefits. The expansion provides a substantial heat demand of approximately 181 GWh/year, which results in an electricity power production of approximately 43 GWh/year. Since the detached and stand-alone houses in the studied heat sparse areas have been heated either by oil boiler or by direct electricity, connection to district heating also provides a substantial reduction in emissions of CO2. The largest reductions in CO2 emissions are found to be 211 ktonnes/year assuming coal-fired condensing power as marginal electricity production. Connection of heat sparse areas to district heating decrease the system costs and provide a profitability by approximately 22 million EURO/year for the studied municipalities if the price of electricity is at a European level, i.e. 110 EURO/MWh. Sensitivity analysis shows, among other things, that a strong relation exists between the price of electricity and the profitability of connecting heat sparse areas to district heating systems.Original Publication:Shahnaz Amiri and Bahram Moshfegh, Possibilities and consequences of deregulation of the European electricity market for connection of heat sparse areas to district heating systems, 2010, Applied Energy, (87), 7, 2401-2410.http://dx.doi.org/10.1016/j.apenergy.2010.02.002Copyright: Elsevier Science B.V., Amsterdam.http://www.elsevier.com/
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Ahonen, Staci. "Understanding European Union Normative Power: Assessing the Construction of the Norms of Human Rights and Market Liberalization in the EU's relationship with Russia." Thesis, University of Ottawa (Canada), 2011. http://hdl.handle.net/10393/28778.
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The European Union's (EU) identity as a nonnative power rests in its ability to construct norms within itself and in third countries. Russia has proven challenging for the EU's norm construction. Through constructivist analysis this thesis attempts to understand the EU's process of norm construction with Russia and domestically and consequently its construction of a nonnative identity.
Looking at the period between 2000 and 2008, this thesis presents two main arguments. First, in the EU's attempt to construct its norms of human rights and market liberalization it faced difficulties because as the context shifted, other norms, deemed more important, triumphed over the norms of human rights and market liberalization. This resulted in three identifiable nonnative shifts. Secondly, it focuses on the domestic formation of norms and argues that member states playa significant role in the EU's difficulty to construct norms, in that they have been unable to speak with one voice on human rights and market liberalization.
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Walvis, Alida. "Avaliação das reformas recentes no setor elétrico brasileiro e sua relação com o desenvolvimento do mercado livre de energia." reponame:Repositório Institucional do FGV, 2014. http://hdl.handle.net/10438/12046.
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There are many challenges inherent to the functioning of a sector as complex as the electricity sector, in which the results of a given measure may take years until it reaches maturity and only then its impact on the institutional framework gets to be fully known by the policy makers. Taking the electricity sector as a backdrop, this dissertation presents the basis for what would be an ideal reform, usually referred to in the literature as 'textbook reform', followed by a presentation of the regulatory evolution of the Brazilian electricity sector, from 1930 until early 2014, with special emphasis on the reforms that took place during the period of 1995 to 2004. The bibliographic research presented in this dissertation is divided into four chapters and analyzes the present situation of the liberalization of the Brazilian electricity market and suggests feasible improvements in order to develop this market in Brazil.
São muitos os desafios intrínsecos ao bom funcionamento de um setor tão complexo quanto o elétrico, em que os efeitos de determinada medida podem levar anos até a maturidade, e só então ser totalmente conhecidos os seus impactos sobre a estrutura setorial como um todo, dificilmente antecipados pelos formuladores das reformas implementadas. Tomando o setor elétrico como pano de fundo, o escopo desta dissertação é apresentar as bases para o que seria uma reforma ideal, denominada na literatura 'reforma de livro texto' e, em seguida, discorrer sobre a evolução regulatória do setor elétrico brasileiro de 1930 até o início de 2014, detalhando, especialmente, as características das reformas ocorridas em 1995 e 2004. Com esse esforço de pesquisa, que adota a técnica bibliográfica e se estrutura em quatro capítulos, pretende-se analisar a situação atual do mercado livre de energia elétrica brasileiro e propor melhorias passíveis de implementação com o objetivo de desenvolver este mercado no Brasil.
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Mendes, João Pedro Paixão. "Liberalização dos mercados eléctricos do Reino Unido e da Península Ibérica: um olhar sobre os processos." Master's thesis, Instituto Superior de Economia e Gestão, 2009. http://hdl.handle.net/10400.5/927.
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Mestrado em Economia e Política da Energia e AmbienteO sector eléctrico tem sofrido desde à 20 anos grandes alterações na sua lógica de negócio, quer em termos políticos, quer em termos de organização ou técnicos. Até aos anos 70 a palavra de ordem era a de dotar todas as populações com energia eléctrica, investindo o necessário para que esses objectivos fossem alcançados. Para garantir a viabilidade das empresas após investimentos tão avultados, seguiu-se um longo período em que imperaram os gigantes monopolistas, estatais e com estruturas de custos com grandes ineficiências, as quais foram-se agravando, com repercussões negativas no serviço prestado aos consumidores, mantendo-se até aos anos 80 e 90. É então que se dá uma mudança de política em relação a este sector, dando-se início à implementação da liberalização do sector com a consequente criação de mercados concorrenciais. Esta estratégia baseia-se na convicção de que num mercado concorrencial conseguem-se ganhos de eficiência, permitindo baixar os custos e, com isso, beneficiar os consumidores. É tendo este movimento presente que neste trabalho apresenta-se um estudo comparativo entre dois processos de liberalização (Reino Unido e Península Ibérica) deste sector, de grande importância dados os seus sucessos e ideias subjacentes aos aspectos legislativos, regulatórios e técnicos que os conduziram.
The electric sector has suffered in the last 20 years great alterations in its logic from business, in terms of politicians, of organization or technician. Until 70 years the word of order was to endow all the populations with electric energy, investing the necessary one so that these objectives were reached. To guarantee the viability of the companies, after these great investments, followed a long period where the monopolists giants had reigned, owned by State and with a cost structure without efficiency, which had been aggravating, with negative repercussions in the service given to the consumers, even until years 80's and 90's. At this time, a change of politics happens in relation to this sector, giving itself beginning to the implementation of the liberalization of the sector with the consequent creation of competition markets. This strategy is based on the certainty of that in a competition market, efficiency profits are obtained, having allowed to lower the costs and, with this, to benefit the consumers. It is having this present movement that, in this work, it presents a comparative study enters two processes of liberalization (United Kingdom and Iberian Peninsula) of this sector, of great importance given to its successes and underlying ideas to the legislative, regulatory aspects and technician that had lead them.
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Leuthold, Florian U. "Economic Engineering Modeling of Liberalized Electricity Markets: Approaches, Algorithms, and Applications in a European Context." Doctoral thesis, Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden, 2010. http://nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-26135.
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This dissertation focuses on selected issues in regard to the mathematical modeling of electricity markets. In a first step the interrelations of electric power market modeling are highlighted a crossroad between operations research, applied economics, and engineering. In a second step the development of a large-scale continental European economic engineering model named ELMOD is described and the model is applied to the issue of wind integration. It is concluded that enabling the integration of low-carbon technologies appears feasible for wind energy. In a third step algorithmic work is carried out regarding a game theoretic model. Two approaches in order to solve a discretely-constrained mathematical program with equilibrium constraints using disjunctive constraints are presented. The first one reformulates the problem as a mixed-integer linear program and the second one applies the Benders decomposition technique. Selected numerical results are reported.
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Martinho, Rui Miguel. "Mercado único de eletricidade Mibel e Nord Pool : um estudo comparativo." Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/12686.
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Mestrado em Economia Internacional e Estudos EuropeusEste trabalho pretende, através do estudo comparativo de dois blocos de mercados regionais, MIBEL e Nord Pool, para o período temporal 2008-2015, analisar a evolução de preços no mercado grossita, a convergência entre os dois blocos comerciais e qual destes apresenta maior integração entre os seus membros. O preço da energia é um fator preponderante, que afeta a competitividade das empresas e o bem-estar social, assim, um setor elétrico com baixa competitividade vai transferir as suas ineficiências a todos os setores da economia, tornando-se por isso importante avaliar a evolução do mercado interno no espaço Europeu, desde que a União Europeia, através da Directiva 96/92/CE, deu impulso à liberalização do setor elétrico. Um dos grandes desenvolvimentos rumo ao mercado interno de eletricidade está relacionado com a formação de mercados regionais, como passo intermédio, para a posterior integração, que é ainda um processo em curso. Este trabalho evidenciou que os dois blocos, MIBEL e Nord Pool, não estão relacionados, divergem quanto à evolução de preços no mercado grossita, apresentando-se mais convergente e integrado o MIBEL e mais competitivo o Nord Pool, com preços grossitas mais baixos.
This work aims, through the comparative study of two blocks of regional markets, MIBEL and Nord Pool, for the time period 2008-2015, to analyze the evolution of prices in day-ahead market convergence between the two trading blocks and which of these is more integration among its members. The price of energy is a major factor affecting the competitiveness of enterprises and social welfare, so a weak competitive electricity sector will transfer its inefficiencies to all sectors of the economy, becoming so important to assess market developments internal in the European space, since the European Union by Directive 96/92 / EC, gave impetus to the electricity sector liberalization. One of the major developments towards the domestic electricity is related to the formation of regional markets as an intermediate step for further integration, which is still an ongoing process. This work showed that the two blocks, MIBEL and Nord Pool, are not related, they differ on the evolution of prices in day-ahead market, presenting more convergent and integrated MIBEL and competitive Nord Pool, with lower prices.
info:eu-repo/semantics/publishedVersion
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Janssen, Tanguy. "Economic analysis of the cross-border coordination of operation in the European power system." Phd thesis, Université Paris Sud - Paris XI, 2014. http://tel.archives-ouvertes.fr/tel-00979385.
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The electricity high voltage transmission networks are interconnected over most of the continents but this is not the case of the power system organizations. Indeed, as described with the concept of integrated power system, the organization over these large networks is divided by several kinds of internal borders. In this context, the research object, the cross-border coordination of operation, is a set of coordination arrangements over internal borders between differing regulatory, technical and market designs. These arrangements can include for instance the famous market couplings, some cost-sharing agreements or common security assessments among several other solutions. The existence and improvement of the cross-border coordination of operation can be beneficial to the whole integrated power system. This statement is verified in the European case as in 2012 where several regional and continental coordination arrangements are successfully implemented.In order to benefit from the European experience and contribute to support the European improvement process, this thesis investigates the cross-border coordination of operation in the European case with four angles of study. First, a modular framework is built to describe the existing solutions and the implementation choices from a regulatory point of view. Second, the thesis analyses the tools available to assess the impact of an evolution of the cross-border coordination. Third, the role of the European Union (EU) is described as critical both for the existing arrangements and to support the improvement process. The last angle of study focuses on two dimensions of the economic modes of coordination between transmission system operators.
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Fučík, Václav. "Vývoj obchodu elektřinou v rámci EU." Master's thesis, Vysoká škola ekonomická v Praze, 2013. http://www.nusl.cz/ntk/nusl-192526.
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The main aim of this thesis is analysis of history, present and future development of cross-border trade in electricity in the EU. A number of instruments is used -- analysis of generation mix, the role of renewables, degree of international interconnection and usage of these routes, institutional organization of the sector and price convergence of national markets. The research's output is the description of past and recent development and a forecast of possible future progress at the national level. The outcome of this thesis enables the reader to fully understand the complexity of EU electricity market and its probable future direction.
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Matthiesen, Henning [Verfasser], Jörg Philipp [Akademischer Betreuer] Terhechte, Thomas [Gutachter] Schomerus, and Thomas [Gutachter] Wein. "The Interplay Between European Merger Control Law and the Liberalisation of European Electricity, Natural Gas and Petroleum Markets : A Critical Assessment of Market Opening Incidental Provisions within the Relevant Decisions of the European Commission / Henning Matthiesen ; Gutachter: Thomas Schomerus, Thomas Wein ; Betreuer: Jörg Philipp Terhechte." Lüneburg : Leuphana Universität Lüneburg, 2021. http://d-nb.info/1226425615/34.
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Autran, Ludovic. "Convergence of day-ahead and future prices in the context of European power market coupling: Historical analysis of spot and future electricity prices in Germany, France, Netherlands and Belgium." Thesis, KTH, Elektriska energisystem, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-98670.
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Since November 2010, the French, Belgian, German and Dutch electricity markets are sharing a common mechanism for Day Ahead price formation called “Market Coupling”. This implicit auctioning system for cross border flows management is part of a regional market integration policy which constitutes an intermediary step toward fully integrated European markets. Within a few years, power markets had evolved a lot, and faced many changes (completion of the deregulation process, renewable integration, …). They were also indirectly affected by the consequences of the Japanese nuclear catastrophe in 2011. In this context, it is interesting to take a stock on the convergence process between these four countries, less than a year after the coupling was launched. Studying the convergence and its evolution for both spot and futures prices can give precious information in order to implement hedging strategies. In this thesis, we explore the dynamics of the convergence process through two main analyses: a Kalman filter and a more original approach based on Mean Reversion Jump Diffusion parameters estimation. We also describe and explore the convergence process under the light of market organisation, production portfolios and consumption profiles to highlight similarities but also divergences. Despite a European framework suitable for convergence, we observe major differences in energy mixes, consumption profiles and renewable integration rates. However, prices are showing significant convergence patterns through the years. Indeed, we observed that the relation between prices was getting steadier and that the price spread was narrowing. Besides, we also noticed that such a convergence process was not constant but rather stepwise and could be affected by peculiar events. France, Belgium, Netherlands and Germany’s electricity markets are already well integrated and seem to converge further but sudden changes can appear. This is why a hedging strategy between these countries is feasible but implies some risks.
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Egerer, Jonas [Verfasser], Christian von [Akademischer Betreuer] Hirschhausen, Claudia [Gutachter] Kemfert, and Ignacio J. [Gutachter] Pérez-Arriaga. "Low-carbon transformation of the German and European electricity systems : modeling market implications and infrastructure investments / Jonas Egerer ; Gutachter: Claudia Kemfert, Ignacio J. Pérez-Arriaga ; Betreuer: Christian von Hirschhausen." Berlin : Technische Universität Berlin, 2016. http://d-nb.info/1156269687/34.
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Bachmann, U. Erlich I. Schnurr N. "Possibilities of Multifunctional FACTS Application in the European Electric Power System under Changing Conditions of the Liberalized Electricity Market, CIGRE, 39th CIGRE Session, Paris, 25-30 August, Paper 14-112." Gerhard-Mercator-Universitaet Duisburg, 2003. http://www.ub.uni-duisburg.de/ETD-db/theses/available/duett-04142003-132349/.
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Competitive markets play a key role in modern industrial In many European countries, politicians set the stage for an open electricity market to facilitate competition with full access to grids. This has led to changes in load-flow patterns in transmission networks. The grid access is accompanied by large power transits even over long distances and unpredictable short-term changes of system conditions.
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Ogden, Lillie. "Exploring Opportunities for Novel Electricity Trading Strategies within a Virtual Power Plant in the European Power Market : New Possibilities in Power Trading Due to the Increased Share of Variable Renewable Energy." Thesis, KTH, Energiteknik, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-277841.
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This report explores the impacts of variable renewable energy (VRE) on power trading in the European wholesale electricity market. The intricate operation of a typical power exchange in Europe is accompanied by an equally complex balancing system. The increasing amount of VRE in the power system, such as wind and solar power, has far-reaching impacts for power traders in both this electricity market and the corresponding balancing system. As a result, the electricity market is evolving in unprecedented ways and new participants are entering the playing field to capitalize on the changing dynamics caused by VRE generators. One novel participant, the virtual power plant (VPP), possesses an advantage over other market participants by aggregating VRE generators with controllable renewable energy generators, like biogas and hydro plants, into one entity. This allows the VPP to both gain access to live VRE production data that larger plants don’t have, which it then utilizes to remotely dispatch various subpools of assets, and to provide balancing services to the grid. Subsequently, VPPs are able to trade VRE and other renewable electricity superiorly on the same spot markets and balancing systems as large central power plants and industrial consumers. The report asserts that VPP traders can earn profits through means of innovative trading strategies that exploit predictable market impacts caused by VRE power through a robust understanding of the electricity market and their unique access to data.Denna rapport undersöker effekterna av variabel förnybar energi (VRE) på krafthandeln på den europeiska elhandelsmarknaden för stora aktörer. Den komplicerade driften av ett typiskt kraftutbyte i Europa åtföljs av ett lika komplicerat balanseringssystem. Den ökande mängden VRE i kraftsystemet, såsom vind- och solkraft, har långtgående effekter för krafthandlare på både denna elmarknad och motsvarande balanseringssystem. Som ett resultat utvecklas elmarknaden på enastående sätt och nya deltagare kommer in på spelplanen för att dra nytta av den förändrade dynamiken som orsakas av VRE-generatorer. En ny spelare, det virtuella kraftverket (VPP), har en fördel jämfört med andra marknadsaktörer genom att samla VRE-generatorer med styrbara förnybara energiproducenter, som biogas och vattenkraftverk, till en enhet. Detta gör att VPP både kan få tillgång till live VRE-produktionsdata som större anläggningar inte har, som den sedan använder för att distribuera olika underpooler av tillgångar och för att tillhandahålla balanstjänster till nätet. Därefter kan VPP: er handla med VRE och annan förnybar el på ett överlägset sätt på samma spotmarknader och balanseringssystem som stora centrala kraftverk och industrikonsumenter. Rapporten visar att VPP-handlare kan göra vinster genom innovativa handelsstrategier som utnyttjar förutsägbara marknadseffekter orsakade av VRE-kraft genom en detaljerad förståelse för elmarknaden och unik tillgång till data för produktionen av förnybar energi
QC 20201118
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Corlu, Huseyin Cagri. "The application of anti-manipulation law to EU wholesale energy markets and its interplay with EU competition law." Thesis, University of Exeter, 2017. http://hdl.handle.net/10871/30135.
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Of the findings, the European Commission established in its report on Energy Sector Inquiry, market manipulation constituted a major concern for the functioning and integrity of EU energy sectors. The Commission argued that the responsibility for high prices in wholesale energy markets could be attributed to manipulative practices of energy incumbents and the trust in the operation of operation of sector was largely compromised, due to these practices. Remedies, EU competition law provided, were considered as insufficient to resolve these shortcomings and thus should be supplemented with regulatory-based tools. The findings of the Energy Sector Inquiry and subsequent consultation documents by multiple EU institutions paved the way for the adoption of the Regulation on wholesale energy market integrity and transparency, REMIT, which incorporated into an anti-manipulation rule, specifically designed to prohibit and prosecute manipulative practices in EU wholesale energy markets. Nevertheless, as EU case law on market manipulation has yet to develop and there are uncertainties with respect to the concept of market manipulation. Furthermore REMIT does not preclude the jurisdiction of EU competition law, questions arise as to the scope and the extent of the application of this prohibition. Throughout its chapters, this book explores the scope of and the case law on market manipulation to determine what types of market practices are regarded as manipulative and thus prohibited under anti-manipulation rules. It also focuses on the interplay between REMIT and EU competition law and evaluates factors and circumstances that determine when and what market misconduct can be subject to enforcement proceedings under both anti-manipulation and antitrust rules. As the development of a single, coherent, rulebook that can be relied upon by market participant is fundamental for the functioning of EU wholesale energy markets, the book, finally, provides proposals and measures that can mitigate and resolve the legal uncertainties regarding the regulatory framework REMIT established.
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Eid, Cherrelle. "Towards the design of flexibility management in smart grids : A techno-institutional perspective." Doctoral thesis, KTH, Skolan för elektro- och systemteknik (EES), 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-214857.
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The European policy focus on smart grids implies their development as an indispensable part of the future power system. However, the definition of a smart grid is broad and vague, and the actual implementation of a smart grid can differ significantly, depending on the stakeholders involved.This work aims to inform policy makers, the electricity industry and researchers about stakeholder interests and the technical complexities involved by presenting smart grids via a techno-institutional framework. This framework takes account of the technical nature of the electricity transport and supply service as well as the institutional nature of electricity markets, stakeholder perspectives and sector regulation. In addition, this work presents potential revenues resulting from flexibility management in smart grids and proposes a way forward for smart grids and flexibility management in Europe.QC 20170925