The global supply of natural gas is fixed in the short run. Europe can replace the missing Russian gas only by bidding more than consumers elsewhere, especially in Asia, are willing to pay. The supply of gas available for Europe is thus highly inelastic; therefore, the marginal cost is an order...

Variable renewable electricity generation presents challenges for traditional power markets. The island of Ireland has high levels of renewable generation by international standards with even higher levels envisaged and so must address these challenges. Market design is informed and constrained...

The European Green Deal, the flagship initiative of the incumbent European Commission, aims to cut greenhouse gas (GHG) emissions to 55% by 2030 (from the current target of cutting 40% of 1990 levels) by overhauling fiscal, trading and regulatory regimes. Brussels is well-placed to deliver the...