Liberalisation Of Energy Markets Effects On Gas And Electricity Generation Distribution And Supply

Essay from the year 2012 in the subject Business economics - General, grade: 2:1, De Montfort University Leicester, course: International Business and Globalisation, language: English, abstract: Consumers mainly benefited from the liberalisation of UK energy markets in the 1980s through privatisation under Thatcher, because of lower prices due to increased competition between rival energy firms. This is because instead of a single monopoly, competitive markets try and compete through price wars. The energy markets were monopolies in many EU countries and held dominant power in the energy market which is considered inefficient. The EU claim that Liberalisation of the energy markets will benefit consumers through; raising employment levels, increasing business efficiency and increasing a country's potential economic development and GDP growth. We therefore need to focus on the impact of Liberalisation on these key areas to assess how advantageous this increase in competition has on the energy market.

In this important book, notable European experts in the energy field provide valuable perspectives on the principal issues raised by the liberalisation of the electricity and natural gas markets in the EU. Lawyers, business people, regulators, and policymakers who deal with matters and issues in the energy, natural resources, and environmental fields will find the details and insights presented here of great value.

Making Energy Markets charts the emergence and early evolution of electricity markets in western Europe, covering the decade from the late 1980s to the late 1990s. Liberalising electricity marked a radical deviation from the established paradigm of state-controlled electricity systems which had become established across Europe after the Second World War. By studying early liberalisation processes in Britain and the Nordic region, and analysing the role of the EEC, the book shows that the creation of electricity markets involved political decisions about the feasibility and desirability of introducing competition into electricity supply industries. Competition introduced risks, so in designing the process politicians needed to evaluate who the likely winners and losers might be and the degree to which competition would impact key national industries reliant on cross-subsidies from the electricity sector, in particular coal mining, nuclear power and energy intensive production. The book discusses how an understanding of the origins of electricity markets and their political character can inform contemporary debates about renewables and low carbon energy transitions.

This book presents the first in-depth analysis of the export of the EU electricity acquis, through the imposition of an EU-type regional electricity market (REM) in SEE within the enlargement process. Among other germane issues, the author discusses the following: the suitability of the European model of electricity markets’ liberalization for economies in transition; the use of the Public Services Obligations (PSO) to address the impact of electricity markets liberalization; the use of regulated prices and measures for granting priority rights for cross-border capacity allocation as PSOs; the Court of Justice judgement in Federutility on the sustainability of states’ protection of their different types of customers, including the large businesses; the Energy Community as a step towards a Pan-European Energy Community; the effect of simultaneous national electricity markets liberalization and cross-border regional integration of national electricity markets; and, the interplay between liberalization policy and reforms and the regulatory tools available to address their impact on provision of public services. The author’s proposed rethinking of the public services obligation offers new views on using this tool more effectively and proposes possibilities for its practical implementation through measures such as energy efficiency, allocation of interconnectors’ capacity, transparency, addressing the affordability issue and the protection of vulnerable customers. The book is remarkable for its clear analysis of the policy lessons arising from the export of the idea of liberalized energy markets, and will be welcomed by practitioners, officials, academics and others in energy law and policy for its informative and forward-looking overview of the national and cross-border reforms in the Energy Community framework.

Surveys the current situation and market status of distributed generation in selected OECD countries, including the impact of current energy policies.

This book takes Italy as a case study, focusing on the financial performance of retail energy firms between 2008 and 2017, to provide an up-to-date and critical analysis of this sizeable shift that has taken place within the European energy sector.

How far can energy markets be free as well as competitive? What do low oil prices mean for the oil industry and other energy markets? How can economic efficiency in the energy industries be reconciled with environmental protection? How far is the UK model of liberalising electricity and gas industries being applied elsewhere in the world and how is it faring, at home and abroad? These are typical questions addressed in this collection of articles written by an international group of economists. Edited by the leaders of the two leading UK academic centres of energy economics, the book demonstrates how important the analysis of policy and regulatory frameworks has become for those interested in efficient energy and environmental outcomes./a