With the liberalization of the electricity markets in 1998, Germany opted for a single, nationwide wholesale price. Regional differences in supply and demand are not taken into account. In the event of grid congestion, electricity generators are paid to adjust their output. This leads to rising...

The UK has committed to ambitious targets for clean power. A key constraint in achieving these targets is how quickly renewable energy generators can connect to the transmission network. To address this, new policies (including CNDM, SSEP, and the CP30 Action Plan) are being introduced to reform...

• In March 2026, the Strait of Hormuz is closed. The shutdown blocks roughly one-fifth of the world's oil and one-quarter of its liquefied natural gas, triggering severe welfare losses in energy-dependent developing countries worldwide. • Standard trade models underestimate the impact...

This report analyzes five critical public investment bottlenecks cutting across the project cycle. The selection of these bottlenecks was informed by these previous assessments and discussions with government counterparts. At the upstream level, this report reviews recent developments in...

Although there is ample empirical evidence that congestion charges can effectively reduce traffic congestion and its detrimental effects, this instrument has only been implemented in a handful European cities. On the basis of a randomized information experiment that was embedded in a survey...