The French law "Nouvelle Organisation du Marché de l'Electricité" makes available, at a regulated price, withdrawal rights to source low-cost electricity production from nuclear plants owned by the incumbent. Downstream market retailers benefit from such a measure, up to a given amount fixed...

This paper deals with the practical problems related to long-term security of supply in electricity markets in the presence of large-scale wind power development. The success of renewable promotion schemes adds a new dimension to ensuring long-term security of supply. It necessitates designing...

This paper analyzes the interactions between vertical integration and (wholesale) spot, forward and retail markets in risk management. We develop an equilibrium model that fits electricity markets well. We point out that vertical integration and forward hedging are two separate levers for demand...

The paper investigates how proposed reforms on policies to maintain generation adequacy and encourage clean technology investments in a number of European countries modify the role of the market. In these reforms the government, regulator and system operat or take on explicit planning and...

Since the late 90s,, European industries of electricity and gas have been subject to a process of concentration at both horizontal and vertical levels. At first glance, this consolidation is quite natural since, on the one hand, the application of European directives to open to competition has...

With the introduction of CO2 allowances, the European Union Carbon Trading Scheme (EU ETS) has imposed a price on the CO2 emissions of power generating companies. In line with economic theory, these companies pass on the costs of allowances and integrate it into the price of electricity. Due to...

Since the end of the eighties, the European electric sector has been progressively liberalised. This phenomenon has given a growing part to the financial markets in the valuation and the control of the firm's activities. With the privatisation, the management's efficiency has become the main...

The international energy environment is full of uncertainties. However, the aggravation of global warming and the stagnation of climate geopolitics reinforce the urgency for action and the development of adaptation policies. Europe has set up a long term energy vision which is very responsible...