The institutional setting of open gas networks and markets is revealing considerably diverse and diverging roads taken by the US, the EU, Brazil and Australia. We show that this divergence is explained by key choices made in the primary liberalization process, which is based on a redefinition of...

Both gas and electricity market designs depend on how the network use is regulated. Those regulations tend to promote contracts that simplify some of the network specificities in order to increase market thickness. However, those simplifications often come at the cost of distorting network use...

The current definition of “commercial” gas networks in the European Union (EU) is based on entry/exit schemes and balancing mechanisms. This regulation of grid services aims to enhance the liquidity of wholesale markets. In order to facilitate the gas commodity trade among players with...

Taking a quarter-century to build Europe's internal market for electricity may seem an incredibly long journey. The aim of achieving a Europe-wide market might be reached, but it has involved – and continues to involve – a process subject to many adverse dynamics. The EU internal market may...

Nowadays, the European electricity systems are evolving towards a generation mix that is more decentralised, less predictable and less flexible to operate. In this context, additional flexibility is expected to be provided by the demand side. Thus, how to engage consumers to participate in...

This paper discusses a series of issues regarding the integration of intermittent renewables into European electricity markets. As intermittent renewables constitute a significant share of the generation mix, they cannot be kept isolated from the market. We argue that RES integration is an issue...

Taking a quarter-century to build Europe's internal market for electricity may seem an incredibly long journey. The aim of achieving a European-wide market might be reached, but we went through – and should continue to go through – a process subject to many adverse dynamics. The EU internal...