Journal articles on the topic 'European electricity market liberalization'
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Bojnec, Štefan, and Alan Križaj. "Electricity Markets during the Liberalization: The Case of a European Union Country." Energies 14, no. 14 (July 17, 2021): 4317. http://dx.doi.org/10.3390/en14144317.
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This paper analyzes electricity markets in Slovenia during the specific period of market deregulation and price liberalization. The drivers of electricity prices and electricity consumption are investigated. The Slovenian electricity markets are analyzed in relation with the European Energy Exchange (EEX) market. Associations between electricity prices on the one hand, and primary energy prices, variation in air temperature, daily maximum electricity power, and cross-border grid prices on the other hand, are analyzed separately for industrial and household consumers. Monthly data are used in a regression analysis during the period of Slovenia’s electricity market deregulation and price liberalization. Empirical results show that electricity prices achieved in the EEX market were significantly associated with primary energy prices. In Slovenia, the prices for daily maximum electricity power were significantly associated with electricity prices achieved on the EEX market. The increases in electricity prices for households, however, cannot be explained with developments in electricity prices on the EEX market. As the period analyzed is the stage of market deregulation and price liberalization, this can have important policy implications for the countries that still have regulated and monopolized electricity markets. Opening the electricity markets is expected to increase competition and reduce pressures for electricity price increases. However, the experiences and lessons learned among the countries following market deregulation and price liberalization are mixed. For industry, electricity prices affect cost competitiveness, while for households, electricity prices, through expenses, affect their welfare. A competitive and efficient electricity market should balance between suppliers’ and consumers’ market interests. With greening the energy markets and the development of the CO2 emission trading market, it is also important to encourage use of renewable energy sources.
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Elbrus Muradsoy, Shukufa. "THE THIRD ENERGY PACKAGE AND LIBERALIZATION OF EUROPEAN ENERGY MARKET." SCIENTIFIC WORK 55, no. 06 (July 5, 2020): 91–99. http://dx.doi.org/10.36719/aem/2007-2020/55/91-99.
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Staňková, Kateřina, Geert Jan Olsder, and Bart De Schutter. "On European Electricity Market Liberalization: A Game-Theoretic Approach." INFOR: Information Systems and Operational Research 48, no. 4 (November 2010): 267–80. http://dx.doi.org/10.3138/infor.48.4.267.
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Manoussakis, Savas. "Liberalization of the EU Electricity Market: Enough to Power Real Progress? Analysis of Ownership Unbundling and the Project for Liberalization of the European Union Electricity Market." World Competition 32, Issue 2 (June 1, 2009): 227–47. http://dx.doi.org/10.54648/woco2009022.
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The recent initiative of the European Commission regarding the unbundling of the vertically integrated electricity sector throughout Europe, together with the controversy and resistance surrounding it, make the issue of ownership unbundling of particular interest. This article discusses the prior attempts to liberalize electricity markets in California and the United Kingdom and the effects of ownership unbundling on consumer welfare, environmental protection, and energy security. Drawing from both the failure of liberalization in California and the relative success in the United Kingdom, this article concludes that, although necessary, ownership unbundling of vertically integrated electricity markets is not sufficient to foster competitive markets. Regulatory oversight, such as present in the United Kingdom and proposed in the third energy package, is also necessary. Ownership unbundling may also facilitate positive outcomes in the areas of consumer welfare, development of renewable energy, and energy security. The article further examines the current proposal put forth by the European Commission in its third energy package. We conclude that the Independent Systems Operator (ISO) compromise, providing for two functionally different regimes, undermines the objectives of a unifi ed European electricity market and the benefits it would provide.
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Chevalier, Jean-Marie. "The French experience in the European process of liberalization of energy markets." ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, no. 1 (July 2010): 5–12. http://dx.doi.org/10.3280/efe2010-001001.
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The liberalization of electricity and gas markets clashes against the French economic culture that relies on the state and public monopolies to supply many public services. This explains the resistance against the market opening imposed by EU directives. Nevertheless, the liberalization has had the beneficial effect of shaking the rents, the institutional organization and has called into question the traditional concept of "service public". Looking ahead, however, the liberalization is likely to increase the complexity of technical, institutional, financial and organizational solutions of the energy sector.
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Şanta, Ana-Maria Iulia. "The common energy market of the European Union – utopia or reality?" Proceedings of the International Conference on Business Excellence 11, no. 1 (July 1, 2017): 93–102. http://dx.doi.org/10.1515/picbe-2017-0010.
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Abstract The European Commission has the initiative to foster the sector of renewable energy and to build an Energy Union, with a common energy market at the level of the European Union, but is this only an utopic vision or is this possible to achieve? The topic of clean energy is very new and of great interest for the European Union, which is shown by the fact that the European Commission recently adopted on the 30th November 2016 the package “Clean Energy for All Europeans”, which contains proposals for the modernization of the energy market at the level of the European Union. But which are the challenges such a project is confronted with? According to the literature, such challenges are related to the process of liberalization of electricity markets. Conflicts between national interest and international actors of the energy market might occur. Due to the oligopolistic structure of the energy market, there are several barriers to the market entry. In order to answer to the research questions, case studies regarding the liberalization of the energy market will be analyzed in a comparative manner, offering an international overview. Furthermore, the legal provisions on which the common energy policy of the European Union relies, will be analyzed, as well as their economic and social impact. The package “Clean Energy for All Europeans” comprises a proposal of the revised Renewable energy Directive, energy efficiency measures and issues related to the Energy Union Governance. It contains as well proposals for the electricity market design, which will be analyzed and the present paper outlines the contribution of this proposal in building a common energy market of the European Union. What role does competition play in implementing the common energy market of the European Union? Which role do competition authorities have in this context? These are interesting aspects to be analyzed in the present paper.
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Şanta, Ana-Maria Iulia. "The Common Energy Market of the European Union–Challenges and Perspectives." Management & Marketing 12, no. 2 (June 1, 2017): 334–45. http://dx.doi.org/10.1515/mmcks-2017-0020.
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Abstract The European Commission has the initiative to foster the sector of renewable energy and to build an Energy Union, with a common energy market at the level of the European Union, but is this only a utopic vision or is this possible to achieve? The topic of clean energy is very new and of great interest for the European Union, which is shown by the fact that the European Commission recently adopted on the 30th November 2016 the package “Clean Energy for All Europeans”, which contains proposals for the modernization of the energy market at the level of the European Union. But which are the challenges such a project is confronted with? According to the literature, such challenges are related to the process of liberalization of electricity markets. Conflicts between national interest and international actors of the energy market might occur. Due to the oligopolistic structure of the energy market, there are several barriers to the market entry. In order to answer to the research questions, case studies regarding the liberalization of the energy market will be analyzed in a comparative manner, offering an international overview. Furthermore, the legal provisions on which the common energy policy of the European Union relies, will be analyzed, as well as their economic and social impact. The package “Clean Energy for All Europeans” comprises a proposal of the revised Renewable energy Directive, energy efficiency measures and issues related to the Energy Union Governance. It contains as well proposals for the electricity market design, which will be analyzed and the present paper outlines the contribution of this proposal in building a common energy market of the European Union. What role does competition play in implementing the common energy market of the European Union? Which role do competition authorities have in this context? These are interesting aspects to be analyzed in the present paper.
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Nowak, Bartlomiej. "Shortcomings of the Energy Market Liberalization in the European Union." European Public Law 18, Issue 4 (December 1, 2012): 701–14. http://dx.doi.org/10.54648/euro2012041.
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The nature and number of infringement procedures started by the European Commission across the European Union clearly reveals the insufficiencies of the EU energy legal framework laid down so far by the EU secondary law. So, too, does the disappointing pace at which the European electricity and gas markets have been opened to competition and harmonized across national borders. What are the main obstacles to healthy competition in both gas and electricity markets? They include highly concentrated markets, the protectionist policies of domestic government's, different import dependences, the vertical integration of supply, generation, transmission and distribution, infrastructural obstacles to equal third party access, insufficient investment in domestic infrastructure and cross border interconnections and lack of independent energy regulators.
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Mozgovaya, Oksana, Svetlana Turbina, and Vasily Kuznetsov. "Development of Competition Assessment Methodology for Retail Electricity Market in Russia." Moscow University Economics Bulletin 2019, no. 2 (April 30, 2019): 83–98. http://dx.doi.org/10.38050/01300105201925.
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The article examines the competition assessment methodology for retail electricity markets, practiced by antimonopoly regulation agency in Russia. On the side it reviews the system of ranking competition assessment used by regulatory authorities in the European countries with electricity markets successful liberalization and competitive environment. The appropriate recommendations are developed to enhance the competition assessment methodology for retail electricity markets in Russia.
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Siksnelyte, Indre, and Edmundas Kazimieras Zavadskas. "Achievements of the European Union Countries in Seeking a Sustainable Electricity Sector." Energies 12, no. 12 (June 12, 2019): 2254. http://dx.doi.org/10.3390/en12122254.
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The electricity production sector has a significant share of final energy consumption and has a huge potential to use more renewable energy sources. Over the last two decades, the European Union (EU) reform of electricity markets has had positive results, and market liberalization acts as a stimulus for energy efficiency, lower prices, and technological progress. Today’s EU policy for the development of electricity and the entire energy sector seeks to provide system modernization, stability, reinforcement of the single market, and implementation of climate change policy with an emphasis on the decarbonization of energy sources and the increase of energy efficiency. After all of the EU efforts to form an electricity sector in member states, it is necessary to assess the efficiency of the policy implemented and to identify the results achieved in shaping a sustainable electricity sector. The purpose of this article is to carry out a sustainability assessment of the electricity sector in the EU countries. A set of eight indicators designed to assess the sustainability of the electricity sector of different EU countries in 2017 has been drawn up. The assessment is made using the multi-criteria decision-making method (MCDM) Technique for Order Preference (TOPSIS). The assessment shows that the electricity market of Slovenia is the most sustainable, with Luxembourg in the second position in the EU.
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Vlahinić Lenz, Nela, and Vedran Prša. "Electricity Sector Reforms in Bosnia and Herzegovina: Results and Policy Implications." INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE AND BUSINESS ADMINISTRATION 3, no. 4 (2017): 46–57. http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.34.1006.
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Analysis shows that electricity sector reforms in Bosnia and Herzegovina have not been implemented as they should according to the Third Energy Package and obligations deriving from the Energy Community membership. Despite the sanctions and infringement procedures for non-transposition of the Third Energy Package that has been adopted against Bosnia and Herzegovina, its legal and regulatory framework for the electricity market is still non-compliant with the Energy Community acquis. Legal framework harmonization with the Acquis communaitaire is completely missing on the state level in Bosnia and Herzegovina while the legal compliance with the Acquis is somewhat better on entity levels. Still, they do not comply with the Third Energy Package as well and this situation strongly hinders the required structural reforms and liberalization of the electricity market. Development of electricity market in Bosnia and Herzegovina has been also influenced by regional electricity market that started by European Union’s incentive. Extending the European Union internal energy market to its neighboring countries, the Energy Community aims to create a regulatory and market framework capable of securing reliable energy supply and attracting investments in the energy sector. All Contracting Parties from Southeast Europe started to implement reforms in the energy sector at a different pace, but Bosnia and Herzegovina has been marked as the worst performer. It is not wondering because Bosnia and Herzegovina is a victim of its own constitutional framework and political complexity. However, during 2016 some new developments have occurred that give some hope for this country to solve some of the obstacles for functioning national and regional electricity market.
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Pereira, Amaro Olimpio, Rafael Cancella Morais, Bruno S. L. Cunha, Maria Bernadete Gomes Pereira Sarmiento Gutierrez, and Mario Jorge Cardoso de Mendonça. "Allocative Efficiency towards Energy Transition: The Cases of Natural Gas and Electricity Markets." Energies 16, no. 2 (January 10, 2023): 796. http://dx.doi.org/10.3390/en16020796.
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Conventional economic theory indicates that the free market contributes to allocative efficiency. However, specific energy markets present network industry characteristics which distance them from perfect competition. These markets, therefore, need effective regulation. The liberalizing reforms which took place in the Organization for Economic Cooperation and Development (OECD) and emerging countries from the 1990s onwards have reduced the share of state ownership in the energy sector, but not its functions of regulation, coordination and planning. It is also worth noting the expansion of the government’s agenda due to the energy transition that has unequivocally imposed itself in the 21st century. This article uses the Slacks-Based Measure of the Data Envelopment Analysis (SBM-DEA) methodology to investigate the relationship between market liberalization and sustainability in a low-carbon energy transition context. Taking the cases of the natural gas and electricity markets, we verify whether liberalization contributes to the progress of the energy transition, driven by the emergency need to tackle climate change. The results show that the most advanced markets, in their processes of opening up, tend to be positively associated with a more vigorous energy transition. European nations, such as the United Kingdom and Norway, have experienced a relatively more advanced market liberalization leading to an efficient path toward energy transition. Chile, Canada and Colombia also have efficient scores regarding their energy transitions. For low performing countries, such as Brazil, the study suggests some calls for action that should be pursued to improve their energy market indicators, resulting in a stronger energy transition towards renewables, more competitive energy prices and a larger participation of natural gas in the energy mix, which will contribute to decreasing its external dependency.
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Wolff, Georg, and Stefan Feuerriegel. "Short-term dynamics of day-ahead and intraday electricity prices." International Journal of Energy Sector Management 11, no. 4 (November 6, 2017): 557–73. http://dx.doi.org/10.1108/ijesm-05-2016-0009.
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Purpose Since the liberalization of electricity markets in the European Union, prices are subject to market dynamics. Hence, understanding the short-term drivers of electricity prices is of major interest to electricity companies and policymakers. Accordingly, this paper aims to study movements of prices in the combined German and Austrian electricity market. Design/methodology/approach This paper estimates an autoregressive model with exogenous variables (ARX) in a two-step procedure. In the first step, both time series, which inherently feature seasonality, are de-seasonalized, and in the second step, the influence of all model variables on the two dependent variables, i.e. the day-ahead and intraday European Power Energy Exchange prices, is measured. Findings The results reveal that the short-term market is largely driven by seasonality, consumer demand and short-term feed-ins from renewable energy sources. As a contribution to the existing body of literature, this paper specifically compares the price movements in day-ahead and intraday markets. In intraday markets, the influences of renewable energies are much stronger than in day-ahead markets, i.e. by 24.12 per cent for wind and 116.82 per cent for solar infeeds. Originality/value Knowledge on the price setting mechanism in the intraday market is particularly scarce. This paper contributes to existing research on this topic by deriving drivers in the intraday market and then contrasting them to the day-ahead market. A more thorough understanding is especially crucial for all stakeholders, who can use this knowledge to optimize their bidding strategies. Furthermore, the findings suggest policy implications for a more stable and efficient electricity market.
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Sadowska, Malgorzata. "Energy Liberalization in Antitrust Straitjacket: A Plant Too Far?" World Competition 34, Issue 3 (September 1, 2011): 449–76. http://dx.doi.org/10.54648/woco2011037.
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The European Commission (EC) has launched a number of antitrust investigations against the major energy incumbents in the aftermath of the energy sector inquiry. Most of them have already been settled under Article 9 of the EC Regulation 1/2003 and the undertakings offered far-reaching, sometimes structural, commitments. This article studies the 2008 investigation into price manipulation in the German electricity wholesale market. In spite of no convincing evidence and flaws in the assessment, the Commission was able to negotiate from E.ON substantial capacity divestments. The Commission is straightforward about using antitrust rules to open up energy markets. Sector inquiries, commitment procedure, and structural remedies allow for a quick intervention and flexible problem-solving and bring about decisive changes in the energy market setting. However, harnessing antitrust for the purpose of energy liberalization policy has an adverse impact on competition enforcement itself. First, it leads to a number of 'weak' cases, based on far-fetched arguments. Second, it results in remedies that are not tailored to the abuse at issue but are in line with a wider objective of energy market liberalization and, as an outcome of negotiations, further swayed by the firm's own interest in the ultimate shape of the commitment package.
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Kaushal, Abhimanyu, and Dirk Van Hertem. "An overview of Ancillary Services and HVDC systems in European Context." Energies 12, no. 18 (September 9, 2019): 3481. http://dx.doi.org/10.3390/en12183481.
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Liberalization of electricity markets has brought focus on the optimal use of generation and transmission infrastructure. In such a scenario, where the power transmission systems are being operated closer to their critical limits, Ancillary Services (AS) play an important role in ensuring secure and cost-effective operation of power systems. Emerging converter-based HVDC technologies and integration of renewable energy sources (RES) have changed the power system dynamics which are based on classical power plant operation and synchronous generator dynamics. Transmission system interconnections between different countries and integrated energy markets in Europe have led to a reduction in the use of energy from non-renewable fossil-based sources. This review paper gives an insight into ancillary services definitions and market practices for procurement and activation of these ancillary services in different control areas within the European Network of Transmission System Operators for Electricity (ENTSO-E). The focus lies particularly on ancillary services from HVDC systems. It is foreseen that DC elements will play an important role in the control and management of the future power system and in particular through ancillary services provision. Keeping this in view, the capability of HVDC systems to provide ancillary services is presented.
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de Hauteclocque, Adrien. "Legal Uncertainty and Competition Policy in European Deregulated Electricity Markets: the Case of Long–term Exclusive Supply Contracts." World Competition 32, Issue 1 (March 1, 2009): 91–112. http://dx.doi.org/10.54648/woco2009006.
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The case of long–term exclusive supply contracts in the EU electricity markets is a highly topical example of the difficulties faced by competition authorities with the deregulation of energy markets. The ambiguous effects of these contracts on foreclosure, investment and consumer welfare in the long term made them logically become a priority for antitrust enforcement. However, due to the lack of precedents and the on–going modernization of EC competition law, the legal uncertainty currently perceived in the market place is strong. By analyzing the recent decisions of community and national competition authorities across energy industries, this article comes up with four conclusions. First, a new methodology to assess foreclosure effects in a market building context is emerging. Second, legal uncertainty in electricity is largely overstated as antitrust enforcement aligns across energy industries and quickly converges with enforcement in sectors where competition is more mature. Third, the European Commission is increasingly taking a unifi ed approach under Articles 81 and 82 EC for long term exclusive dealing in energy. Fourth, the antitrust strategy of the European Commission demonstrates both the limits of the application of a rule of reason in energy and the importance of the politics of liberalization.
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Lont, Paweł. "Differences in End-Customer Power Prices Across the EU – Reasons and Challenges for the Future." Studia Humana 10, no. 3 (June 1, 2021): 1–9. http://dx.doi.org/10.2478/sh-2021-0013.
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Abstract Many years have passed since the first liberalization processes in the electricity sectors the in European Union that were performed in order to establish a single market for electricity. In practice, convergence between neighbouring market areas was established mainly between the Member States in Central-Western Europe, while other countries have allowed for only limited levels of competition. As a consequence, many market areas remain illiquid and consumers pay relatively higher prices for the energy they consume. The final bill is further increased through financing the increasingly ambitious climate agenda, gradually leading to social opposition against ever-growing prices. The aim of this article is to provide examples of differences in market functioning in Member States, leading to discrepancies in average energy costs for end consumers. The consequences of different levels of market concentration, infrastructure investments and renewable generation subsidization are analysed using publicly available statistics. Careful literature review is also performed before the conclusions are presented.
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Nylander, Johan. "THE CONSTRUCTION OF A MARKET - A frame analysis of the liberalization of the electricity market in the European Union." European Societies 3, no. 3 (January 2001): 289–314. http://dx.doi.org/10.1080/14616690120079341.
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Drabik, Ewa. "An Experimental Analysis of Price Formation on the Polish Power Exchange." Folia Oeconomica Stetinensia 15, no. 2 (December 1, 2015): 115–27. http://dx.doi.org/10.1515/foli-2015-0039.
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Abstract The Polish energy market gained its competitive character in late 1990s. At that time in majority of European countries a new law was enacted (in Poland – in 1987), which enabled the creation of internal energy markets. The Polish Power Exchange has been functioning since the end of 1999. However, from the very onset it has constituted a vital component of under grounding liberalization of electricity market. Since it was created the Polish Power Exchange has served as a market mechanism for setting objective energy market price. Support and control of the Polish Financial Supervision Authority guarantee the security of concluded transactions. The spot energy market was created as the first one and has functioned according to the rule of the double auction. The model of Sadrieh will be used for the description of the auction rules applied to the spot energy trade on the Polish Power Exchange. Furthermore, an algorithm on the basis of which it is possible to forecast transaction prices is presented. The effectiveness of this algorithm will be compared with other traditional methods of forecasting transaction prices.
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Bluszcz, Anna, and Anna Manowska. "The Use of Hierarchical Agglomeration Methods in Assessing the Polish Energy Market." Energies 14, no. 13 (July 1, 2021): 3958. http://dx.doi.org/10.3390/en14133958.
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Energy markets play an important role in achieving sustainable development goals. The sector of energy has a huge impact on the environment, hence changes in it are the highest priority in the European Union. The process of shaping and developing the internal energy market plays an important role in improving the security of supply of energy resources for the entire union. It requires a number of political negotiations, strategic decisions regarding energy liberalization, in particular, the electricity and gas sectors, as well as the adoption of sectoral legislation. The aim of the conducted research is to estimate the level of development of energy markets in the EU countries and to indicate the position of Poland in comparison to other countries. The research was performed in several stages. The first phase consisted of selecting appropriate diagnostic variables that comprehensively describe energy markets in countries belonging to the European Union. The next stage was collecting data, subjecting them to standardization, and then, based on the agglomeration algorithm, the process of dividing into groups of similar countries was carried out. The research results can be used as guidelines for legal regulations being prepared in the energy sectors of all member states, which can be used for selected clusters comprising similar countries in terms of the development of energy markets.
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Goto, Mika, and Toshiyuki Sueyoshi. "Electric power market reform in Japan after Fukushima Daiichi nuclear plant disaster." International Journal of Energy Sector Management 9, no. 3 (September 7, 2015): 336–60. http://dx.doi.org/10.1108/ijesm-05-2014-0009.
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Purpose The purpose of this study is to review the current status and related issues on the market reform of Japanese electric power industry after Fukushima Daiichi nuclear plant disaster. We also discuss the future policy direction for the market reform. Design/methodology/approach This research compares the reform process of Japanese electric power industry with that of European Union (EU) nations. Then, this study discusses policy issues on the Japanese market reform based upon our comparative analysis. Findings Japan may learn many things from the market liberalization process and institution of EU nations. In the learning process, it is necessary to pay attention to industrial differences between Japan and the EU nations. Each country has its own unique features on fuel mix, business environment as well as supply and demand relationship. Such differences may influence a desirable policy direction for each nation’s market reform. The international comparison discussed in this study indicates the importance of a step-by-step approach in which Japan can gradually incorporate European experiences into the Japanese market reform. Research limitations/implications Since this study focuses upon the Japanese market reform, the empirical findings may have limited policy implications. The implications obtained from Japanese experience need additional thought in shifting them to other nations. Such an extension will be an important future task of this study. Originality/value This study discusses the current policy issues and future direction on the Japanese electricity market reform. This study also suggests its future direction. Previous research has never discussed the Japanese experience. Policy makers, corporate leaders, and individuals in the world, who are involved in the energy industry, have been paying attention to the Japanese future energy direction after Fukushima Daiichi nuclear plant disaster. This study provides such a future energy direction on Japanese market reform from European experience.
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Djoric, Marija, and Strahinja Obrenovic. "EVOLUTION OF EU ENERGY LAW AND POLICY: А BIG COMEBACK OF ENERGY SECURITY IN 2022?" Politika nacionalne bezbednosti 23, no. 2/2022 (December 12, 2022): 67–86. http://dx.doi.org/10.22182/pnb.2322022.4.
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The armed conflict in Ukraine in 2022 and subsequent worsening of relations between Western countries, including the EU and its Member States, and the Russian Federation, have deeply shaken the existing EU energy law and policy foundations. During the past decades, the EU attempted to develop a comprehensive energy policy based on three pillars – competitiveness and internal market principles, security of supply, sustainability and environmental protection. Starting in the 1990s, liberalization efforts dominated the electricity and natural gas markets. It did not take long for energy security and environmental protection to gain attention. Enlargement of the European Union and occasional problems with external suppliers prompted new measures regarding the security of supply, while a growing body of legislation is also present in the field of environmental protection. The three objectives of the EU energy policy are not always complementary, and some tension and even confliction between them can’t be excluded. Although the European Union and its institutions attempt to embrace all three pillars under the sustainability umbrella, this hasn’t brought a desirable outcome yet. We are witnessing the big comeback of energy security in 2022, including the adoption of some measures by the Member States that are not in line with decarbonization efforts, at least in short term.
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Dimitrova, Anna. "ON THE LIMITS TO THE INDEPENDENCE OF THE NATIONAL ENERGY REGULATOR." Economic Thought journal 67, no. 2 (June 23, 2022): 205–20. http://dx.doi.org/10.56497/etj2267204.
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The article analyses the risks to the independence of regulators as a fundamental element in the liberalization of energy markets in the European Union in the light of the capture theory. Issues related to the normative aspects and current case law determining the parameters and guarantees for the independence of the regulatory authorities are studied. These are examined in the context of the current electricity price crisis and the national measures taken to address these challenges in relation to the regulated segment. Recommendations are formulated to align with good practice and with the current requirements related to the independence of the national energy regulator.
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Müller, Ralf, Martin Steinert, and Stephanie Teufel. "Successful diversification strategies of electricity companies: An explorative empirical study on the success of different diversification strategies of German electricity companies in the wake of the European market liberalization." Energy Policy 36, no. 1 (January 2008): 398–412. http://dx.doi.org/10.1016/j.enpol.2007.09.025.
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Ferrari, Giuseppe Franco. "La complessitŕ dei mercati energetici e la necessitŕ di una regolazione multilivello." ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, no. 3 (July 2009): 121–52. http://dx.doi.org/10.3280/efe2008-003006.
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- The energy markets are very complex, because, on the one hand, they imply several different activities and, on the other hand, they involve various levels of govern- 183 ment. The energy market is divided indeed in different segments: supply (generation or purchasing), transmission, distribution and sale, which are allocated at different levels of government, from the international and European level (with reference to the security of energy supply), to the local level (with specific regard to the distribution and sale). This complexity makes the energy sector particularly critical, under the pressure of political interests and economical needs. Another sensitive point is linked with the environmental protection, since the consumption of energy is one of the most polluting human activities, and the demand of energy is growing up together with the economical growth of the developing Countries. This problem is increasingly discussed at the international level, with reference to the climate change issue, in order to plan a sustainable development for the whole globe: because of it, the Kyoto Protocol was issued within the United Nation Framework Convention on Climate Change. It establishes legally binding commitments for the reduction of four greenhouse gases for all the 183 ratifying Countries, according the principle of common but differentiated responsibilities, and provides for the promotion of renewable energy. The European Union ratified the Protocol implementing the relative obligations through, for instance, the creation of the EU Emissions Trading Scheme (ETS). The European Union most of all addressed the competitive issue, since the 70s, in order to achieve the result to create a free energy market in Europe. The last results of the European energy policy were the directives on electricity and natural gas in 2004, that imposed the complete opening of the energy markets in almost all the European Countries (with few exceptions). The implementation of the European directives requires the intervention of the national level, since each Country has to modify its own regulatory framework, in order to comply with the directives. Everywhere in Europe, this process faces with several difficulties, but it is particularly hard in Italy, since the energy sector is traditionally public owned. Indeed, in our Country, the privatization and liberalization processes are strictly linked to another trend: the decentralization of legislative and administrative powers from the State to the Regions and Local Communities. Thus it is evident that the global governance of the energy sector, for its complexity and its sensibility, can only derive from a network of interventions by several levels of government, and different international, national and local actors, which realize a typical case of multilevel governance.Key words: Energy markets, competition, sustainable development, multilevel governance.JEL classifications: K21, K23.Parole chiave: Mercato energetico, concorrenza, sviluppo sostenibile, multilevel Governance.
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Pasicko, Robert, Slavica Robic, and Zeljko Tomsic. "Modelling CO2 emissions impacts on Croatian power system." Thermal Science 14, no. 3 (2010): 655–69. http://dx.doi.org/10.2298/tsci1003655p.
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Today?s electrical energy landscape is characterized by new challenges such as deregulation, liberalization of energy markets, increased competition, growing demands on security of supply, price insecurities, and demand to cut CO2 emissions. All mentioned challenges are calling for consideration of various options (like nuclear, coal, gas or renewable scenarios) and for better understanding of energy systems modelling in order to optimize proper energy mix. Existing models are not sufficient any more and planners will need to think differently in order to face these challenges. European emission trading scheme (EU ETS) started in 2005 and it has great influence on power system short term and long term planning. Croatia is obliged to establish a national scheme for trading of greenhouse gas emission allowances from the year 2010, which will be focused on monitoring and reporting only until accession to EU when it will be linked with EU ETS. Thus, for Croatian power system it is very important to analyze possible impacts of CO2 emissions. Analysis presented in this paper was done by two different models: mathematical model, based on short run marginal costs (SRMC, relevant for fuel switch in existing power plant and merit order change) and long run marginal costs (LRMC, relevant for new investment decisions); and electricity market simulation model PLEXOS, which was used for modelling Croatian power system during development of the Croatian energy strategy in 2008. Results of the analysis show important impacts that emission trading has on Croatian power system, such as influence of emission price rise on price of electricity and on emission quantity, and changes in power plants output that appear with emission price rise. Breakeven point after which gas power plant becomes more competitive than coal is 62 ?/tCO2 for SRMC and 40 ?/tCO2 for LRMC. With CO2 prices above 31 ?/tCO2 wind is more competitive than gas or coal, which emphasizes importance that emission price has on competitiveness of renewables.
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Fuchs, Gerhard. "The Governance of Innovations in the Energy Sector." Science & Technology Studies 27, no. 1 (January 1, 2014): 34–53. http://dx.doi.org/10.23987/sts.55333.
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The field of electricity supply has slowly evolved over a long period of time. Electricity supply constitutes an example of a large technical system resistant to sudden changes or reorientations. The essential incentives for changes have come from the so called oil-price shocks in the mid ninety-seventies of the last century, the Chernobyl accident and the resulting critical attitude towards nuclear energy in many countries, the liberalization of markets driven forward by the European Commission, discussions about climate change and finally the Fukushima catastrophe. Such external events can lead to changes in governance structures. The standard operating procedure is to have the incumbent actors deal with external challenges in the established way of doing things (structures and actors). We assume that changes in the governance structure are not an immediate reaction to external shocks, but rather these external shocks have to be interpreted, mediated by new, skilled actors and perceived as a chance to see things differently and organize and build coalitions around these new frames. For a successful transformation, a change in the relevant power constellations which supports the incumbent governance structure is required. Processes of change in the end deal with the following question: which actors can achieve what aims under what conditions? The article will analyze four prominent cases in the energy sector to illustrate this point: the governance of the carbon dioxide capture & storage technology in Germany and Norway and the governance of photovoltaics development in Japan and Germany.
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Ali, Hassan, Han Phoumin, Beni Suryadi, Aitazaz A. Farooque, and Raziq Yaqub. "Assessing ASEAN’s Liberalized Electricity Markets: The Case of Singapore and the Philippines." Sustainability 14, no. 18 (September 9, 2022): 11307. http://dx.doi.org/10.3390/su141811307.
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The efforts towards the liberalization of electricity markets have sped up recently in some countries within the Association of Southeast Asian Nations (ASEAN) region. This step of opening up the electricity markets is aimed at establishing competitive and efficient electricity markets that not only reduce electricity prices, but also support a sustainable future by reducing carbon dioxide (CO2) emissions from electricity generation and promoting the wider adoption of renewable energy (RE)-based electricity generation. This paper assesses the effects of the electricity market liberalization process in Singapore and the Philippines on these expected outcomes during the period 2015–2020. The regression analysis results suggest that in the specified period, the liberalization of the electricity market in Singapore has delivered both household and industry electricity price reductions and improvement in the RE share. However, there is no significant effect of the electricity market liberalization process on the electricity generated CO2 emissions. For the same period, the results imply that with the electricity market liberalization process in the Philippines, the electricity prices for household consumers and electricity-generated CO2 emissions have increased. Additionally, the liberalization process has no significant impact on both the RE share and industry electricity prices in the Philippines. To overcome the obstacles and strike a balance between the expected outcomes, policy recommendations are given for ASEAN economies following the pathway of liberalized electricity markets.
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Ivan Tominov. "LIBERALIZATION OF THE ELECTRICITY MARKET ‒ IS IT MEETING EXPECTATIONS?" Journal of Energy - Energija 57, no. 3 (October 11, 2022): 256–99. http://dx.doi.org/10.37798/2008573324.
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The fundamental declarative goal of the reform of the electrical power industry, i.e. the liberalization of the electricity market, has been and remains to raise the efficiency of the electrical power sector, primarily for the purpose of increasing the competitiveness of the economy. The following had been expected from the liberalization of the electricity market: reduction in the price of electricity, improvement in the level of service, reduction in the differences in prices among countries, the option for each customer to choose a supplier, and an increase in the efficiency of the sector by reducing the need for the construction and maintenance of reserve capacities. This work presents an investigation and analysis of the extent to which these goals for the liberalization of the electricity market have been achieved and are achievable, how successful the shift has been from a monopolistic organizational structure of the electrical power industry to a competitive structure, i.e. whether the liberalization of the electricity market has met expectations. Based upon assessment of the cost-benefit ratio from the liberalization of the electricity market, it can be said that liberalization will not achieve the primary goal for which it was initiated, which is reduction of the price of electricity. The goal of making prices uniform was also not achieved because there are still great differences in the prices of electricity among countries. There has been no significant shift in the organizational structure of the electrical power industry from monopolistic to competitive. Positive shifts have been achieved in raising the level of the quality of services, increasing the efficiency of the sector by reducing the need for the construction and maintenance of reserve capacities, and in the formal opening of the markets. These research findings confirm the hypothesis presented in the introduction to this work that the primary goals of the liberalization of the electricity markets have not been achieved. It can be concluded that the liberalization of the electricity market has not fulfilled expectations. Moreover, according to the current status of the reforms and the tendencies in these processes, these goals have not been achieved in the manner in which the initial reforms were imagined and defined.
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Zogolli, Helga. "The Process of Liberalization of Electricity Market in Albania." European Journal of Economics and Business Studies 2, no. 1 (August 30, 2015): 50. http://dx.doi.org/10.26417/ejes.v2i1.p50-58.
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The motivation for electricity liberalization differs slightly between countries; however most of the countries share common ideological and political reasons regarding disaffection with the vertically integrated monopoly model of the past and a strong belief that the success of liberalization in other industries can be repeated for the electricity industry. The introduction of competition in the electricity industry has been justified by the perceived benefits of introducing market forces in an industry previously viewed as a natural monopoly with substantial vertical economies. Therefore the motivation behind electricity liberalization is to promote in the long run efficiency gains, to stimulate technical innovation and to lead to efficient investment.First the project is reviewing from the literature, the available information on market power monitoring in electricity markets. There are briefly explained definitions, strategies, indices and methods of mitigating market power as well as the several methods of detecting market power used from market monitors/regulators. After, the general features of the electricity industry are presented briefly as background for the analysis. The main aspects of the liberalization process of this industry and the role it has played in the creation of PX-s is described.
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Bahçe, Serdal, and Erol Taymaz. "The impact of electricity market liberalization in Turkey." Energy Economics 30, no. 4 (July 2008): 1603–24. http://dx.doi.org/10.1016/j.eneco.2007.03.003.
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Pepermans, Guido. "European energy market liberalization: experiences and challenges." International Journal of Economic Policy Studies 13, no. 1 (December 3, 2018): 3–26. http://dx.doi.org/10.1007/s42495-018-0009-0.
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Park, Chan¡ Kook, and Gweon-Cheol Lee. "Energy Market Liberalization Scenarios and Electricity Industry Policy Implications." East Asian Economic Review 11, no. 1 (June 30, 2007): 157–86. http://dx.doi.org/10.11644/kiep.jeai.2007.11.1.167.
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Verdejo-Fredes, Humberto, Fernando García-Muñoz, Francisco Tobar, Cristhian Becker, Mauricio Olivares, Juan Zolezzi, and Guillermo Guzmán. "Retail Electricity Market Liberalization: An Overview of International Experience and Effects on the Chilean Regulated Tariff." Sustainability 14, no. 21 (October 27, 2022): 13996. http://dx.doi.org/10.3390/su142113996.
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The Chilean government is looking to liberalize the retail electricity market to increase competitiveness and reduce the price of electricity for residential and small/medium commercial customers. Under this context, the article aims to enrich the legislative debate by providing an overview of the international experience of the electricity market liberalization that started in the early 1990s and presents forecasting for the regulated Chilean price until 2034, considering the current tenders and the price stabilization mechanism. In addition, multiple simulations are developed to measure the market effect of retail liberalization on regulated customers. In this regard, the results suggest a significant regulated price increase from 2022 to 2032, produced mainly by the stabilization mechanism, which overshadows the low prices obtained in recent renewable generation supply tenders. However, if the retail market is liberalized, the simulation indicates that regulated customers could save between 15% and 20% on their electricity bills.
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Leban, Raymond. "Building a European electricity market." Utilities Policy 1, no. 3 (April 1991): 234–44. http://dx.doi.org/10.1016/0957-1787(91)90056-b.
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Bai, Hong Kun, Jiang Bo Wang, and Da Wei Song. "Electricity market liberalization under the power of customer value evaluation and service model." E3S Web of Conferences 38 (2018): 04001. http://dx.doi.org/10.1051/e3sconf/20183804001.
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After the power reform No. 9 was released in March 2015, the state officially released the Opinions on the Implementation of the Reform on the Power Sales Side. From this document, we can see that the openness of sales of social capital to the electricity business, the sales side of the market competition through multiple ways to train the main competitors, the result is more users have the right to choose, sales service quality and user energy levels will significantly improve. With the gradual promotion of the electricity sales market, the national electricity sales companies have been established one after another. In addition to power grid outside the power generation companies, energy-saving service companies and distributed power companies may become the main selling power, while industrial parks, commercial complex, large residential area, industrial and commercial users, large industrial users in the new electricity demand appearing The new changes, some power customers have also self-built distributed power supply, installation of energy storage devices or equipment to participate in the transformation of the electricity market. The main body of the electricity sales market has gradually evolved from the traditional electricity generation main body to the multi-unit main body and emerged new value points. Therefore, the electricity sales companies need to establish a power customer value evaluation method and service mode to adapt to the new electricity reform, Provide supportive decision support.
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Michail, Costas. "The Advent of Electricity Liberalization in Cyprus. Critical Analysis of the Current State and Charting a Path to Liberalization." European Energy and Environmental Law Review 31, Issue 2 (April 1, 2022): 116–22. http://dx.doi.org/10.54648/eelr2022007.
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Cyprus is an island situated in the Easter Mediterranean and member of the European Union. Cyprus maintains an effective monopoly in electrifying the island chiefly by entrusting the electrification to the Cyprus Electricity Authority, a semi-governmental organization. The Electricity Authority aggregates all key functions for generating and ultimately matching the load. The electricity is mainly produced by burning petrol, mazut, at the power plants. Cyprus has recently passed Laws to enable liberalization of its electric industry. In the body of this research paper, we will unveil the current state of the electricity industry in Cyprus by expanding on the electricity state owned company, the regulatory Authority and the new Laws enabling the liberalization pathway. Then we focus on key ingredients in liberalizing electricity industry. The key focus of this article will be to appraise the Cyprus new Laws, outlining the positive conditions and stress the persisting barriers and provide recommendations.
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NOMURA, Munenori. "Facts and Problems of The UK Electricity Market after Liberalization." Journal of the Institute of Electrical Engineers of Japan 135, no. 12 (2015): 816–20. http://dx.doi.org/10.1541/ieejjournal.135.816.
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Morin, Jean-Frédéric, and Caterina Carta. "Overlapping and Evolving European Discourses on Market Liberalization." British Journal of Politics and International Relations 16, no. 1 (May 7, 2013): 117–32. http://dx.doi.org/10.1111/1467-856x.12021.
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Golombek, Rolf, Kjell Arne Brekke, and Sverre A. C. Kittelsen. "Is electricity more important than natural gas? Partial liberalizations of the Western European energy markets." Economic Modelling 35 (September 2013): 99–111. http://dx.doi.org/10.1016/j.econmod.2013.06.023.
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Guo, Xingwu, Shiqian Wang, Xing Chen, Yao Lu, Zhe Chai, Man Jin, and Shuo Yin. "Research on the Information Disclosure Mechanism of the Retail Market Based on the Liberalization of the Electricity Sale Market." BCP Business & Management 19 (May 31, 2022): 208–13. http://dx.doi.org/10.54691/bcpbm.v19i.744.
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Liberalizing the electricity sales market is an important direction for electricity reform and a major strategic move to implement the reform of the supply and demand structure. In the process of liberalizing the electricity retail market, various mechanisms are not yet sound, and many problems have arisen due to opaque information. Establishing an open and effective information disclosure mechanism has become a necessary condition for ensuring the orderly development of the retail market. The article proposes a framework for information disclosure in the retail electricity market. The research results can be used as the basis for the credit rating of electricity retail companies, and will help the stable and healthy operation of the electricity retail market.
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Boucher, Jacqueline, and Yves Smeers. "Towards a Common European Electricity Market." Competition and Regulation in Network Industries 3, no. 4 (December 2002): 375–424. http://dx.doi.org/10.1177/178359170200300402.
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R., Tudway. "The European internal market in electricity." Fuel and Energy Abstracts 37, no. 3 (May 1996): 196. http://dx.doi.org/10.1016/0140-6701(96)88730-3.
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Gutiérrez-Hita, Carlos, and Aurora Ruiz-Rua. "Competition in the railway passenger market: The challenge of liberalization." Competition and Regulation in Network Industries 20, no. 2 (June 2019): 164–83. http://dx.doi.org/10.1177/1783591719858737.
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European country members have been opening up to competition railway passenger services in recent years, whereas others still remain on the way to liberalization. The recent Commission’s fourth European Union (EU) Railway Package has updated the European legislation to ensure an effective liberalization within the EU country members by 2020. It is intended to enhance firms’ efficiency and also consumers’ benefits. In this article, we study different paths towards liberalization from the traditional state-owned monopoly configuration. First, the monopoly outcome is presented, as it is the current situation in a number of EU country members. Second, the oligopoly models are introduced to study different paths towards an effective competition as a result of different market configurations. It is found that liberalization may enhance consumer surplus keeping operators’ profitability only when variable costs and access charge to the network are low. Finally, some regulatory measures are discussed.
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Eising, Rainer. "Policy Learning in Embedded Negotiations: Explaining EU Electricity Liberalization." International Organization 56, no. 1 (2002): 85–120. http://dx.doi.org/10.1162/002081802753485142.
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Taking the example of the liberalization of the electricity supply industy, I analyze member-state negotiations in the European Union (EU). Confronting central tenets of the intergovernmental approach, I suggest that member-state executives act within the limits of bounded rationality and do not always hold clear and fixed preferences. I focus on the large member states Germany, France, and the United Kingdom and identify four institutional mechanisms that support outcomes above the least common denominator: (1) the role of norms that constrain strategic action and frame the negotiations, (2) the empowerment of supranational actors, (3) the decision routines of the Council of the European Union that provide standardized mechanisms for resolving conflicts and induce policy learning and preference changes, and (4) the vertical differentiation within the Council system that can unblock issue-specific controversies. Even if as a result of these techniques EU legal acts contain several flexibilization elements, they can trigger behavioral changes that clearly surpass their regulatory content.
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Wisuttisak, Pornchai. "Regulatory Developments for Energy Liberalization in Thailand." Vietnamese Journal of Legal Sciences 1, no. 1 (June 1, 2020): 48–63. http://dx.doi.org/10.2478/vjls-2020-0003.
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AbstractThe paper explores the regulatory developments for energy liberalization in electricity and gas sectors. It displays that government made vital institutional and regulatory reforms to create and implement energy liberalization in Thailand. Nevertheless, the author also points out that there are regulatory issues for implementation of the energy liberalization. The paper proposes some possible plans for regulatory developments with the focus on energy liberalization and competition. It provides an overview of regulatory developments which contribute to liberalization of the Thai energy sectors anol describes the regulatory challenges which hinder the process of the energy liberalization. The paper offers suggestions for the regulatory developments in order to ensure the implementation of energy liberalization toward market efficiency and competition.
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Yamane, Keita. "Electricity Trading in a Successive Oligopoly Market: A Social Welfare Comparison between the Generation and Retail Sectors’ Liberalization." Research in Economics and Management 3, no. 4 (September 7, 2018): 307. http://dx.doi.org/10.22158/rem.v3n4p307.
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<p><em>This study models the electricity industry as a successive</em><em> Cournot</em><em> oligopoly market to compare the market performance between the generation and retail sectors’ liberalization. We show that, assuming identical fixed costs on free entry into both generation and retail sectors, liberalization of the retail sector can dominate that of the generation sector with regard to social welfare.</em></p>
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Cassiani, Carlos Ulises, John Edwin Candelo Becerra, and Fredy Edimer Hoyos. "Electricity market strategies applied to microgrid development." International Journal of Power Electronics and Drive Systems (IJPEDS) 11, no. 1 (March 1, 2020): 530. http://dx.doi.org/10.11591/ijpeds.v11.i1.pp530-546.
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<span>Over the last decade, the liberalization of the electricity market has been sought. In order to fight the environmental impact caused by the use of fossil fuels, it is aimed to change the current system of centralized generation and achieve a more distributed one; distributed resources can use renewable or non-renewable resources as main source of energy, one way to implement these distributed systems is through micro electrical grids, since these allow improving energy efficiency. The way to efficiently implement this type of network is an important point to be solved in future research and even more if the way of conducting an electricity market for different communities is unknown. That is why this text presents the characteristics of microgrids, the management of microgrids, and the wide and promising panorama of future opportunities for a great development of this type of grid.</span>
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Hai, CHEN, CUI Yan - yan, MA li, LIU Wei, WANG Jun, YUAN Shuai, Guo Ju, HUANG Yi, and Dong Xiao–jing. "Early warning analysis of electricity sales based on multi-factor correlation analysis." E3S Web of Conferences 53 (2018): 02007. http://dx.doi.org/10.1051/e3sconf/20185302007.
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Under the background of the slowdown in macroeconomic growth and the gradual liberalization of the power system reforming market, the competition pressure of power grid companies in the electricity sales market has intensified, and the growth of power sales is not optimistic. It is necessary to conduct research and analysis of electricity sales. This paper conducts the analysis with the following steps: first, determines the leading, coincident, lagging economic indicators based on multi-factor correlation analysis, then synthesizes early warning index, forecasts electricity sales, finally, achieves early warning of external risks to improve the company's management quality of the electricity sales.
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Pashkuda, Maksym, Hanna Blakyta, Nataliia Barabash, Tetiana Pashkuda, and Iryna Vavdiichyk. "PRICE FORMATION CRITERIA FOR ELECTRICITY SUPPLY COMPANIES IN THE CONDITIONS OF MARKET LIBERALIZATION." Financial and credit activity problems of theory and practice 5, no. 46 (November 5, 2022): 161–70. http://dx.doi.org/10.55643/fcaptp.5.46.2022.3821.
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The main goal of the research is to determine and analyze the criteria for the formation of electricity prices for generating enterprises using a systemic approach to evaluate the impact of the set specified criteria as a holistic system. An analysis of the influence of exchange, regulatory, technical and technological and other criteria and factors on price formation for energy industry enterprises was carried out. It is indicated that the offer of prices for electric energy on the stock exchange is formed by three components: marginal costs, "no-load" costs and "loading" costs. It is established that the opportunity given to the consumer to influence the price of electricity independently is an important criterion for the formation of the price of electricity in the conditions of market liberalisation, and the mechanism of implementation of this criterion is detailed. The existence of both a positive and a negative impact of excessive market regulation by the introduction of the procedure "imposing special obligation" on energy industry enterprises is indicated. The main factors influencing the "cost of the supplier's services" criterion are established and analyzed. The conclusion that the criteria for the formation of the electricity price should represent a coordinated system that realizes the principle of compatibility of incentives for all parties that form a balance of interests - both producers and consumers is a scientific novelty. In addition to the principle of the compatibility of incentives, other principles which must be met by the criteria for the formation of the electricity price were also named for the first time. In order to introduce a systematic approach to analysis, a model of electricity price formation in conditions of market liberalization has been proposed for the first time. The advantage of this model lies in the fact that it allows not only for assessing the impact of the identified criteria on the electricity price but also to forecast this price for future periods.