This book provides an introduction to energy economics. It shows how to apply general economic theory as well as empirical and advanced econometric methods to explain the drivers of energy markets and their development. Readers learn about the specific properties of energy markets as well as the physical, technological, environmental, and geopolitical particularities of energy sources and products. The book covers all types of energy markets, ranging from liquid fuels, gaseous fuels, and solid fuels to electricity. It also addresses emission allowances, energy efficiency, and nuclear risks. The authors discuss the engineering properties of energy technologies including renewables, the economics of natural resources and environmental protection, market liberalization, and energy trade as well as the experience of the German energy transformation. This book will serve students as a textbook and practitioners as a reference for their understanding of energy markets and their development.

Deutschland hat im internationalen Vergleich eines der zuverlassigsten Elektrizitatssysteme. Jedoch befindet sich die Elektrizitatsversorgung in einer Transformation von fossiler zu regenerativer Erzeugung. Die Kosten der Versorgungssicherheit werden aufgrund zusatzlichen Bedarfs an Investitionen in Technologien wie Backup-Kraftwerke oder Speicher zukunftig ansteigen. Welches Sicherheitsniveau ist fur die verschiedenen Kunden tatsachlich gesellschaftlich optimal? Die Antwort auf diese Frage hangt davon ab, welche Kosten Verbrauchern bei Stromunterbrechungen entstehen. Unter Umstanden ist es sinnvoller, Verbraucher kurzfristig abzuschalten, anstatt diese fur wenige Stunden mit teuren Kraftwerken und Speichern zu versorgen. Hierfur ist aber letztlich ein breiter gesellschaftlicher Konsens hinsichtlich der Praferenzen zwischen Versorgungssicherheit, Klimaschutz und Kernenergieausstieg notwendig. Aaron Praktiknjo befasst sich in dieser Monographie mit diesen Fragestellungen und liefert wertvolle methodische und empirische Hinweise."

This book provides an introduction to energy economics. It shows how to apply general economic theory as well as empirical and advanced econometric methods to explain the drivers of energy markets and their development. Readers learn about the specific properties of energy markets as well as the physical, technological, environmental, and geopolitical particularities of energy sources and products. The book covers all types of energy markets, ranging from liquid fuels, gaseous fuels, and solid fuels to electricity. It also addresses emission allowances, energy efficiency, and nuclear risks. The authors discuss the engineering properties of energy technologies including renewables, the economics of natural resources and environmental protection, market liberalization, and energy trade as well as the experience of the German energy transformation. This book will serve students as a textbook and practitioners as a reference for their understanding of energy markets and their development.