In this paper we explore the impact of decarbonization on international trade and development employing a recursive dynamic Computable General Equilibrium (CGE). We develop three long run stylized climate change scenarios: (i) Global Inaction (GI); (ii) Divided World (DW); and (iii) Cooperation...

Since the deregulation of electricity markets in the 1990s, U.S. power grids have witnessed the creation of an increasingly diverse suite of financial instruments designed to mitigate risks caused by underlying generation and consumption patterns. However, the nature of risks is shifting rapidly...

In this paper we explore the impact of decarbonization on international trade and development employing a recursive dynamic Computable General Equilibrium (CGE). We develop three long run stylized climate change scenarios: (i) Global Inaction (GI); (ii) Divided World (DW); and (iii) Cooperation...

Aspiring to become the "Battery of Southeast Asia," the Lao People's Democratic Republic (Lao PDR) has rapidly expanded its electricity generation capacity to export power to neighbouring countries. However, this expansion introduces several long-term risks, including over-capacity, rising...

This document provides recommendations for the statistical recording of capacity allocation and balancing markets, which are crucial for addressing deviations between supply and demand in electricity markets. It also includes guidance on transactions related to the electricity congestion income...

This document provides recommendations for the statistical recording of capacity allocation and balancing markets, which are crucial for addressing deviations between supply and demand in electricity markets. It also includes guidance on transactions related to the electricity congestion income...

This paper develops a simple nonparametric test for perfect competition in markets for homogenous goods. The method only requires data on prices and some aggregate of output. We then generalize the method to account for variable capacity and intertemporal production decisions. We apply the...

How does electricity market integration affect cross-border electricity flows, wholesale prices and renewable electricity generation? We employ a synthetic control method to contribute to literature on electricity market integration using the 2018 integration of Ireland's Single Electricity...

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,...

Integration of renewable energy (RE) into the energy mix is essential to achieve net zero emissions (NZE). However, the intermittent nature of solar and wind power can lead to grid instability. Battery energy storage systems (BESS) can help stabilize electricity generation but have a cost. This...

The international integration of electricity markets offers numerous benefits but can lead to substantial redistribution between consumers and producers, which can be politically challenging to overcome. Several European interconnector projects have recently been canceled, despite being expected...

Natural energy sources, such as solar, wind and water, are abundant, but they are not evenly distributed worldwide. The transmission of power across borders can help address imbalances between electricity supply and demand from renewable sources, contributing to security of supply. Security of...

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...

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 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...

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...

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...

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...