Heterogeneous interconnections, which link regulated electricity markets to liberalised ones, are becoming increasingly important. Several such interconnections are set to be established in the near future especially between European and North African countries (e.g., Tunisia-Italy,...

This study probes the relationship between price and traded volume in electricity exchanges worldwide. Deploying the generalised method of moments estimation on panel data from the day-ahead market of exchanges in 20 countries for the period 2015-2020, this study finds that an increase in the...

The use of distributed energy resources (DER) programs, which include separate renewable energy (RE) programs, has expanded in residential as well as commercial structures as an outcome of recent technological developments. The virtual power plant (VPP) may improve the security and reliability...

The reduction of the EU's pipeline gas imports from Russia because of the Russian war against Ukraine has had severe economy-wide implications for the bloc. Using a multisector integrated assessment model (GCAM), we find that a potential complete cut-off of Russian pipeline gas exports to the EU...

The energy market integration in the Middle East is assessed by comparing the acting institutions in the Levant and Persian Gulf sub-regions. Pami Aalto's regional institution's theoretical framework and the case-oriented comparative research method are adopted for this purpose. Changes in the...

In order to realise the energy transition towards a more sustainable, inclusive and just energy market, the traditional model of the electricity market, with big corporations producing electricity and passive consumers at the receiving end, is changing. These changes also require the adaptation...

The report starts with a brief overview of the evolution of competitive power markets and the current global landscape of electricity markets. It further reviews the arguments for markets, including existing evidence as well as basic preconditions for market reform. The main body of the report...

The region of the Eastern Mediterranean and Middle East (EMME) is one with highly diverse socioeconomic conditions. It is split between countries with rich fossil fuel reserves, which are net energy exporters, and countries that rely to a large extent on energy imports to satisfy their domestic...

Based on the Renewable Portfolio Standard (RPS), we establish a multitimescale electricity, multi-entity, two-tier optimization decision model that includes medium- and long-term markets for renewable and traditional energy, day-ahead markets for renewable and traditional energy, and real-time...

This paper proposes a game-theoretic model to analyze the strategic behavior of inc-dec gaming in market-based congestion management (redispatch). We extend existing models by considering incomplete information about competitors’ costs and a finite set of providers. We find that these...

Since 2015 available cross-border transmission capacity is determined using flow-based market coupling (FBMC) in the day-ahead electricity markets of Central Western Europe. This paper empirically estimates the effect of introducing FBMC on electricity price convergence and cross-border exchange...

This work presents a novel method for generating electricity price scenarios from statistical properties of past electricity prices using a hybrid statistical and reduced-form stochastic model. Previous work in applying stochastic differential equations (SDE) to model electricity prices has...

Die Situation ist sehr ernst. Etliche Gaskunden werden im Winter ihre Heizung herunterdrehen oder ihre Produktion herunterfahren müssen. Je kälter der Winter, desto größer das Problem. Ökonomen sind sich weitgehend einig, dass die Politik die Entscheidung, wer wie viel Gas einspart, dem...

We investigate the role of U.S.-Canada electricity interconnections in supporting decarbonization efforts toward addressing both countries' emission reduction goals. Using the OSeMOSYS energy system model, we calculate the generation mix and required transmission expansion between Canada and the...

Household electricity use has an increasing impact on the overall energy system. Numerous proposals have been made to support households to consume electricity in a system-friendlier manner. By breaking these proposals down into functions and how they are performed, this paper identifies four...

This paper provides the concept of import dependence between countries, which is a relative quantity. In order to reveal the evolutionary characteristics of the import dependence between countries in energy trade and its influencing factors, firstly, based on the network analysis method, this...

In electricity markets, generators are rewarded both for providing energy and for enabling grid reliability. The two functions are compensated with two separate payments: energy market payments and ancillary services market payments. We provide evidence of changes in the generation mix in the...

This book offers important insights into the intricacies of energy trading and risk management to students and professionals in the liberalized electricity and natural gas markets. In its opening chapter, the book delves into fundamental concepts, including price formation on wholesale markets....