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With twenty-two chapters written by leading international experts,
this volume represents the most detailed and comprehensive Handbook
on electricity markets ever published. It covers all dimensions of
electricity markets: wholesale and retail; renewable electricity
sources; the electrification of mobility, heating and cooling; and
recent innovations such as distributed generation, electrical
energy storage, demand response and digital platforms that are
disrupting the industry. The benefits, as well as the limits, of
open markets and competition are assessed at the level of
underlying principles and with reference to specific cases,
including the UK, PJM Interconnection, Texas, Australia,
Scandinavia, continental Europe and China. The details of
electricity market designs are analysed and discussed. The book
also considers new emerging business models, as well as the impact
of electricity sector policy priorities such as universal access
and deep decarbonization. This Handbook is intended to be used and
useful. Students and young professionals will find the information
they need to enter the field. Researchers, experienced
professionals and public decision-makers will get a comprehensive
update on the topical issues in electricity markets that will guide
them through the important developments the sector is witnessing.
The UK model of incentive regulation of power grids was at one time
the most advanced, and elements of it were adopted throughout the
EU. This model worked well, particularly in the context of limited
investment and innovation, a single and strong regulatory
authority, and limited coordination between foreign grid operators.
This enlightening book demonstrates how the landscape has changed
markedly since 2010 and that regulation has had to work hard to
catch up and evolve. As the EU enters a wave of investment and an
era of new services and innovation, this has created growing
tensions between national regulatory authorities in terms of
coordinating technical standards and distribution systems. This is
being played out against an increasingly disruptive backdrop of
digitization, new market platforms and novel business models.
Electricity Network Regulation in the EU adopts a truly European
approach to the complex issues surrounding the topic, focusing on
the grey areas and critical questions that have traditionally been
difficult to answer. Incentive regulation and grids are addressed
simultaneously at the theoretical and practical level, providing
the reader with fundamental concepts and concrete examples. This
timely book is an invaluable read for energy practitioners working
in utility companies, regulators and other public bodies. It will
also appeal to academics involved in the world of electricity
regulation. The book utilizes language that would make it suitable
for interdisciplinary students, including engineering and law
scholars. Contributors include: P. Bhagwat, J.-M. Glachant, S.Y.
Hadush, L. Meeus, V. Rious, N. Rossetto, T. Schittekatte
With twenty-two chapters written by leading international experts,
this volume represents the most detailed and comprehensive Handbook
on electricity markets ever published. It covers all dimensions of
electricity markets: wholesale and retail; renewable electricity
sources; the electrification of mobility, heating and cooling; and
recent innovations such as distributed generation, electrical
energy storage, demand response and digital platforms that are
disrupting the industry. The benefits, as well as the limits, of
open markets and competition are assessed at the level of
underlying principles and with reference to specific cases,
including the UK, PJM Interconnection, Texas, Australia,
Scandinavia, continental Europe and China. The details of
electricity market designs are analysed and discussed. The book
also considers new emerging business models, as well as the impact
of electricity sector policy priorities such as universal access
and deep decarbonization. This Handbook is intended to be used and
useful. Students and young professionals will find the information
they need to enter the field. Researchers, experienced
professionals and public decision-makers will get a comprehensive
update on the topical issues in electricity markets that will guide
them through the important developments the sector is witnessing.
The issue of electricity reform has been on the agenda in Europe
for a decade and remains a high priority for policymakers looking
to the future. However, the performances of new electricity markets
are still not clear and arouse significant controversy. This book
focuses on the diversity of electricity reforms in Western Europe,
drawing evidence from ten European Union memberstates plus Norway
and Switzerland as associate members. The contributors analyse the
various ways of introducing competition in the European electricity
industries, and consider both the strategies of electricity
companies and their behaviour in electricity marketplaces. They
also offer an explanation of the differences of reforms by the
institutions and the industrial structures of each country which
shape the types of marketrules, industrial restructuring and public
service regulations which have been adopted. As a whole, this
volume will attract scholars, PhD and post-graduate students,
notably those interested in energy economics, comparative
institutional economics and applied industrial economics. European
and non-European energy companies or regulatory authorities looking
for an independent and analytical overview of European electricity
markets will also find this book of great interest.
Foreword by Walter BoltzThis highly unique book focuses on market
design issues common to most EU gas markets, particularly in the
context of closer integration. It explores in detail the
characteristics and requirements of national gas markets in Europe,
which are constructed as virtual hubs based on entry/exit schemes
as a requirement of European law. The expert contributors analyze
gas supply and demand patterns in the EU, showing that both have
changed following the introduction of liquefied natural gas on the
supply side and the growth of gas-fired power plants on the demand
side. The repeated interactions between the transmission operators'
activity and the gas commodity markets are addressed, as is the
design of commercial networks in EU markets. The contributors also
question whether the relationship between commercial and physical
networks, in terms of the 'new' flexibility requirements of users,
actually works. By way of conclusion, two proposals for the EU gas
target model are presented, both of which tackle the fundamental
issues raised in this book, as well as the organization of
short-term transactions and the mechanisms for investment in vital
new long-life infrastructure needed to integrate EU markets. This
volume will be of great interest to practitioners, as well as
academics, researchers and students in the fields of energy
economics and industrial economics. Both European and non-European
energy companies and regulatory authorities looking for an
independent and analytical overview of European gas markets will
also find this book to be a highly valuable resource. Contents:
Foreword by Walter Boltz Introduction Part I: The New European Gas
Market: Increased Flexibility in Both Demand and Supply 1.
Introduction to Part I 2. Gas Demand: The Role of Gas-fired Power
Plants 3. Gas Supply: The Role of Liquefied Natural Gas by Sophia
Ruester Part II: The Role Played by Networks Regulation 4.
Introduction to Part II 5. Opening a Market for Gas Flexibility?
Part III: EU Regulation in the Context of the EU Target Model 6.
Introduction to Part III 7. A Vision for the EU Gas Target Model:
MECO-S 8. An American Model for the EU Gas Market? by Sergio Ascari
Conclusions Bibliography Index
The European higher education sector is moving online, but to what
extent? Are the digital disruptions seen in other sectors of
relevance for both academics and management in higher education?
How far are we from fully seizing the opportunities that an online
transition could offer? This insightful book offers a broad
perspective on existing academic practices, and discusses how and
where the move online has been successful, and the lessons that can
be learned. Higher Education in the Digital Age offers readers a
comprehensive overview of the ways in which a move into online
academia can be made. Analysing successful case studies, the
original contributions to this timely book address the core
activities of an academic institution - education, research, and
research communication - instead of focusing only on online
learning or digital strategies relevant for individual academics.
Chapters cover online and networked learning, as well as the myriad
ways in which the digital age can improve research and knowledge
exchange with experts and society more widely. Academics, managers
and policy makers in higher education institutions will greatly
benefit from the up-to-date case studies and advice outlined in
this book. Academic administrators and academic project leaders
will also find this a useful tool for improving the accessibility
of their work. Contributors include: D. Bernardo, A. Birdi, P.
Bryant, C. Canestrini, C. Gilson, J.- M. Glachant, J. Haywood, L.
Marr, I. Pena-Lopez, G. Porcaro, S. Sissonen, B. Stewart, S.
Williams, A. Zorn
The realisation of a European internal market for energy is still a
work in progress. Written by leading European scholars and
discussed with major energy stakeholders, this book presents a
thorough analysis of the motives and methods needed to achieve a
single European energy market. The authors discuss the critical
issues surrounding an internal European energy market including:
market design, competition and market power, sustainable energy
versus the market, regulation and harmonisation, benchmarking and
indicators, modelling of competition, market prices and energy
forecasts. They provide a multi-disciplinary assessment of the
'best way' to build the market base of a future European energy
policy. Electricity Reform in Europe will be of great interest to
decision makers and managers in the energy industry or business
sector as they will be able to see the whole European energy policy
'picture' beyond their own corporate interests. The book will also
appeal to national and European energy administrations, regulatory
bodies and policy makers providing a synthesis of all relevant
policy issues.
This book fills a gap in the existing literature by dealing with
several issues linked to long-term contracts and the efficiency of
electricity markets. These include the impact of long-term
contracts and vertical integration on effective competition,
generation investment in risky markets, and the challenges for
competition policy principles. On the one hand, long-term contracts
may contribute to lasting generation capability by allowing for a
more efficient allocation of risk. On the other hand, they can
create conditions for imperfect competition and thus impair
short-term efficiency. The contributors - prominent academics and
policy experts with inter-disciplinary perspectives - develop fresh
theoretical and practical insights on this important concern for
current electricity markets. This highly accessible book will
strongly appeal to both academic and professional audiences
including scholars of industrial, organizational and public sector
economics, and competition and antitrust law. It will also be of
value to regulatory and antitrust authorities, governmental
policymakers, and consultants in electricity law and economics.
Contributors: J. Boucher, G. Brunekreeft, D. Finon, J.-M. Glachant,
L. Hancher, A. de Hauteclocque, P. Longva, F. Marty, R. Meade, G.
Meunier, M. Mulder, S. O'Connor, J. Pillot, F.A. Roques, Y. Smeers
In economic, technical and political terms, the security of energy
supply is of the utmost importance for Europe. Alongside
competition and sustainability, supply security represents a
cornerstone of the EU's energy policy, and in times of rising
geopolitical conflict plays an increasingly important role in its
external relation. Within this context, the contributors analyse
and explore the natural gas, nuclear, and hydrogen energy sectors,
which will be of critical significance for the future of energy
supplies in EuropeThe book opens with an extensive exploration of
the very definition of `supply security' and moves beyond
sector-specific debates to highlight the political sensitivity
surrounding energy security. The expert contributors apply a policy
perspective, underpinned by theoretical discussion, to economic
analysis in order to yield policy-relevant conclusions. They
illustrate that the EU lacks a coherent transnational energy
policy, that national energy policies fail to match EU goals and
that, ultimately, sustainable energy policies, more competition,
and better regulation will improve global welfare Academics and EU
policymakers- both at national and international levels-will find
that the topical policy recommendations, extensive overview of
supply security, and detailed perspectives on the natural gas,
nuclear and hydrogen sectors presented herewith constitute an
invaluable reference and recearch tool
What is the European energy strategy for 2050? How different is it
from the 2020 energy strategy? What are the technology options?
What are the policy options? This volume discusses the European
"2050 Energy Roadmap to a Low Carbon Economy: Energy Policy &
Innovation." The book represents the outcome of the Third Academic
Roundtable of the Loyola de Palacio Chair at the European
University Institute, held in Florence in May 2011. It introduces
the most recent thinking regarding the European transition towards
a low carbon future. The views presented include those of experts
of the European Commission, major industry players, and prominent
academics. Along with academic articles, speeches, and opinions,
the book contains reports of the Think Tank of DG Energy hosted in
Florence. "This book is extremely well written and....should help
readers to formulate realistic scenarios for an energy future." Dr.
James G. Speight, Energy Sources Part A, Volume 34, 2012 and Energy
Sources Part B, Volume 34, 2012
This book was originally published by Claeys and Casteels, now
formally part of Edward Elgar Publishing. Is the EU on the right
track to meet its stated objective - a true European energy
security policy? Is the current architecture on which the EU gas
security of supply policy is built able to deliver those responses
needed in order to meet the growing risks and changing realities EU
gas security faces? How should European institutions and regulation
adapt and respond? What tools are available to secure gas supply?
This book feeds these questions by taking stock of today's EU gas
security of supply governance
This is a comprehensive and up-to-date synthesis of the economic analysis of contracts written by a specially commissioned team of leading international scholars. The book offers a well structured analysis of theoretical developments, the diverse fields of applications, the methodologies in use, and the policy implications at both firm and state level. It offers a unique combination of theoretical and applied economics along with insights from law and management sciences. The volume is designed to appeal to scholars, graduate students and practitioners in economics, management and law.
Different types of markets exist throughout the world but how are
they created? In this book, an interdisciplinary team of authors
provide an evolutionary vision of how markets are designed and
shaped. Drawing on a series of case studies, they show that markets
are far from perfect and natural mechanisms, and propose a new view
of markets as social construct, explaining how combinations of
economic, political and legal constraints influence the formation
and performance of markets. Historical trajectories and
interdependencies among institutional dimensions make it difficult
to build costless, non-biased co-ordination mechanisms, and there
are limitations to public and private attempts to improve the
design of markets. The authors show that incomplete and imperfect
modes of governance must be improved upon and combined in order for
markets to work more efficiently. This timely book will interest
practitioners and academics with backgrounds in economics, law,
political science and public policy.
Different types of markets exist throughout the world but how are
they created? In this book, an interdisciplinary team of authors
provide an evolutionary vision of how markets are designed and
shaped. Drawing on a series of case studies, they show that markets
are far from perfect and natural mechanisms, and propose a new view
of markets as social construct, explaining how combinations of
economic, political and legal constraints influence the formation
and performance of markets. Historical trajectories and
interdependencies among institutional dimensions make it difficult
to build costless, non-biased co-ordination mechanisms, and there
are limitations to public and private attempts to improve the
design of markets. The authors show that incomplete and imperfect
modes of governance must be improved upon and combined in order for
markets to work more efficiently. This timely book will interest
practitioners and academics with backgrounds in economics, law,
political science and public policy.
Institutions frame behaviors and exchanges in markets, business
networks, communities, and organizations throughout the world.
Thanks to the pioneering work of Ronald Coase, Douglas North and
Olivier Williamson, institutions are now recognized as being a key
factor in explaining differences in performance between industries,
nations, and regions. The fast-growing field of new institutional
economics analyzes the economics of institutions and organizations
using methodologies, concepts, and analytical tools from a wide
range of disciplines (including political science, anthropology,
sociology, management, law, and economics). With contributions from
an international team of researchers, New Institutional Economics
provides theoreticians, practitioners, and advanced students in
economics and social sciences with a guide to the many recent
developments in the field. It explains the underlying
methodologies, identifies issues and questions for future research,
and shows how results apply to decision making in law, economic
policy, management, regulation and institutional design.
This is a comprehensive and up-to-date synthesis of the economic analysis of contracts written by a specially commissioned team of leading international scholars. The book offers a well structured analysis of theoretical developments, the diverse fields of applications, the methodologies in use, and the policy implications at both firm and state level. It offers a unique combination of theoretical and applied economics along with insights from law and management sciences. The volume is designed to appeal to scholars, graduate students and practitioners in economics, management and law.
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